Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Completion of acquisition of 22% Interest in Horse Hill Oil Discovery and Licences PEDL137 and PEDL246 Licences, Weald Basin, UK UK Oil & Gas PLC (London AIM: UKOG) announces that it has completed the acquisition of the 22% shareholding in Horse Hill Developments Ltd ("HHDL") from Gunsynd PLC, Primorus Investments PLC and Solo Oil PLC ("the Vendors"). These acquisitions were announced on 20 and 30 August 2018. The Company now owns 71.9% of HHDL and holds a 46.735% beneficial interest in the onshore Weald Basin licences PEDL137 and PEDL246 ("the Licences"). UKOG is now the single largest shareholder in HHDL and the largest single largest beneficiary in the Licences. Transaction Summary For a total consideration of £6.6 million, the Company has acquired the Vendors' 22% interest in HHDL, equating to a 14.3% beneficial interest in the Licences. The total Consideration is comprised of £425,000 payable in cash and £6,175,000 in the form of the issue of new ordinary shares in UKOG ("Consideration Shares") as outlined in the announcements of the 20 and 30 August 2018. As such an application has been made for 328,858,149 new ordinary shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on or around 28 September 2018. Following Admission, the Company's enlarged issued share capital will comprise 5,566,524,206 ordinary shares. The Company does not hold any shares in treasury. This figure of 5,566,524,206 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules. HHDL and the Company's Interest in the Licences HHDL owns a 65% working interest and operatorship of the Licences. UKOG owns a 71.9% beneficial shareholding in HHDL, which equates to a 46.735% net working interest in the Licences. The remaining 35% interest in the Licences is held by Magellan Petroleum (UK) Limited.
Update on Cryptocurrency Mining Datacentre and Mediapolis Appeal Cryptocurrencies Mining Datacentre The Board of Clear Leisure (AIM: CLP) announces that, as at 19 September 2018, the mining datacentre, Miner One Ltd, has extracted approximately 0.454 Bitcoins and 17.045 Litecoins in pool mining mode, of which 0.193 Bitcoins and 7.244 Litecoins are distributable to Clear Leisure. The delay in the extraction schedule is due to a restriction in power supply which has prevented the data centre from operating at its full capacity. The Company has been advised by the energy supplier that this issue should be resolved by the end of September, when the power available at the site should be increased. Mediapolis appeal With regard to the appeal against the result of the Mediapolis Land auction and the decision of the auctioneer to reject the Company’s request to have the land assigned, the Court of Ivrea has scheduled a first hearing for 28 September 2018. The Company will provide a further update to the market in due course.
Passed. Clear Leisure is pleased to announce that, at the meeting of its bondholders held today at the Company's registered office at 22 Great James Street, London WC1N 3ES, the resolution announced on 6 August 2018 in respect of its €9.9 million Bond (the "Bonds") was passed. Eufingest SA, which holds 43.48% of the issued Bonds, is a substantial shareholder of the Company’s issued share capital as defined by the AIM Rules for Companies, voted in favour of the resolution. The amendments to the terms of the Bonds is therefore a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. The directors of the Company (each of whom is independent of Eufingest), having consulted with the Company's Nominated Advisor, consider the alteration of the terms of the Bonds to be fair and reasonable insofar as shareholders are concerned.
Dshox, I'm abit thick & post holiday mode. Whats all the cafufal about the docs? I cant download as gives me me 404 error. Thanks
To see us on the risers board... Whats happening?
But yes.... Where is tiptop?
Oh come on wp, who on gods green earth could have predicted whats happened here. There are risks in drilling & we just hit one of them. Im hoping the repositon & redrill will work & hitting just the top 2 horizons will be enough for me. Anything extra is just a bonus. We have government backing.... Oil producing neighbors.... Excellent bod.... Funds for this drill. Whats not to like.
Ayoung, can you imagine the out-roar if they did not provide the first update & word got out.
25 day delay. Guess we'll just have to wait abit longer.
True say Harry... Its trying to unsettle the nervy & cast doubt. If you've DYOR on this one, u will know what the potential is. The massive spread gives the game away. Also the big chunky buys give me confidence. Our time is just around the corner. Sell out - miss out
Very interesting q&a. This guy has a history of turning million dollar companies into billion dollars. He's like our very own Dragons den entrepreneur. Feel very positive about this. Gl all.
Topped up with a huge wedge (£53k). Excellent news just around the corner. GL all.
& down we go.
Out. Adjourned meeting.
Lol Top, rainbowchasers. Its finally building up nicely, hope for some news today/tomorrow & then the q&a. GL
Problem is alot of people dont like leaving money on the table on the table over the weekend.
It always starts down in the morning & turns positive by end of the day.... Think thats been happening all this week. So my guess, more big orders getting filled. Hold tight & if your nervous, look away.