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Cadence Minerals PLC Amapá Operational Update
16/06/2020 7:00am
UK Regulatory (RNS & others)

Cadence Minerals (LSE:KDNC)
Intraday Stock Chart

Tuesday 16 June 2020
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TIDMKDNC

RNS Number : 0336Q

Cadence Minerals PLC

16 June 2020

Cadence Minerals Plc

("Cadence Minerals", "Cadence" or "the Company")

Amapá Operational Update

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to announce that DEV Mineração S.A ("DEV"), owner of the Amapá iron ore project (Amapá Project) continues to hit its operation targets, with the movement of the stockpile to the public port scheduled commence this month and shipping to occur in early Q3 2020.

The shipment of the stockpile was approved by the commercial court of São Paulo and announced on 14 April 2020 and was supported by the judicial administrators and other creditors of DEV. The secured creditors have objected to the commercial court of São Paulo in relation to its decision and on 12 June 2020 after market hours filed a petition, none the less the original ruling still remains in force.

We have also been informed that due to court closures during the current COVID-19 outbreak in Brazil, a ruling in relation to DEV's petition to annul the secured creditors liens and charges over the Amapá Project is now scheduled for the end of June 2020.

Cadence Amapá Project stake

As mentioned in previous announcements there remains only one major precondition for Cadence to make its initial investment in the Amapá Project and release the sum currently held in escrow in a judicial trust account ("Escrow Monies").

This precondition requires DEV to reach a settlement agreement with the secured bank creditors. On satisfaction of the prerequisites and the release of the Escrow monies, Cadence will become a 20% shareholder in the Amapá Project via our joint venture company which will own 99.9% of Dev.

Cadence's rights over the Amapá Project have been formalised in the Judicial Restructuring Plan of DEV and ratified by the São Paulo Bankruptcy court. DEV officers have been appointed in the Judicial Restructuring Plan, with acceptance of creditors.

Further detail in relation to Cadence's rights, potential investment and the Judicial Restructuring Plan in relation to the Amapá Project are detailed in the announcements of the 30 August 2019 and 7 August 2019.

About the Project

The Amapá Project was owned by Anglo American plc and Cliffs Natural Resources and consists of a large-scale iron ore mine, beneficiation plant, railway and private port. In 2012 the operation produced 6.1 Mt of iron ore concentrate and reported operating profits from their 70% ownership in the Amapá Project of US$120 million (100% - US$171 million). Before its sale in 2012, Anglo American valued its 70% stake at US$462m in its 2012 Annual Report (100% - US$600m).

As previously announced, the total historical mineral resource contains an estimated 348

2nd bit
Funding Details

The Company entered into a placing agreement ("Placing Agreement") with WH Ireland pursuant to which terms WH Ireland agreed to arrange the Placing. The Company has given certain customary warranties and indemnities under the Placing Agreement in favour of WH Ireland. Completion of the Placing is subject to the satisfaction of the conditions contained in the Placing Agreement including, but not limited to, Admission.

Your attention is drawn to the detailed terms and conditions of the Placing set out in the Appendix to this Announcement (which forms part of this Announcement).

The Appendix to this Announcement contains the detailed terms and conditions of the Placing and the basis on which investors agreed to participate in the Placing. The Placing has not been underwritten by WH Ireland. Placees are deemed to have read and understood this Announcement in its entirety, including the Appendix, and to have made their offer on the terms and subject to the conditions contained herein and to have given the representations, warranties, undertakings and acknowledgements contained in the Appendix to this Announcement.

The Placing Shares will be issued, credited as fully paid, and will rank pari passu with the existing Ordinary Shares in issue in the capital of the Company, including the right to receive all dividends and other distributions (if any) declared, made or paid on or in respect of such shares after the date of their issue.

Admission and Settlement

Application will be made for the admission to trading on the AIM market ("AIM") of London Stock Exchange plc ("LSE") and to and the AQSE Growth Market ("AQSE") operated by Aquis Exchange Plc for the Placing Shares ("Admission"). Admission is expected to occur on or around 11 June 2020. Following Admission, the Company will have 129,264,891 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 129,264,891 and Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

About the Project

The Amapá Project was owned by Anglo American plc and Cliffs Natural Resources and consists of a large-scale iron ore mine, beneficiation plant, railway and private port. In 2012 the operation produced 6.1 Mt of iron ore concentrate and reported operating profits from their 70% ownership in the Amapá Project of US$120 million (100% - US$171 million). Before its sale in 2012, Anglo American valued its 70% stake at US$462m in its 2012 Annual Report (100% - US$600m).

As previously announced, the total historical mineral resource contains an estimated 348 Mt of ore @ 38.9% iron content ("Fe"). The ore is beneficiated at the mine to 65% Fe Pellet Feed and 62% Fe Spiral Concentrate. Based on available historic mine plans and an independent consultant review, it is expect

Cadence Minerals PLC Amapá Operational Update,Placing to Raise GBP650,000
08/06/2020 7:00am
UK Regulatory (RNS & others)

Cadence Minerals (LSE:KDNC)
Intraday Stock Chart

Monday 8 June 2020
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TIDMKDNC

RNS Number : 1832P

Cadence Minerals PLC

08 June 2020

THIS ANNOUNCEMENT, INCLUDING THE APPIX TO THIS ANNOUNCEMENT, AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT, INCLUDING THE APPIX TO THIS ANNOUNCEMENT, IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT AND THE APPIX DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF CADENCE MINERALS PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

Cadence Minerals Plc

("Cadence Minerals", "Cadence" or "the Company")

Amapá Operational Update, Placing to Raise GBP650,000

Highlights

-- Trucking contractor has commenced mobilisation of equipment
-- Other key contractors appointed including local shipping manager and shipping broker
-- Shipping is still on target for late Q2 2020 / early Q3 2020
-- Movement of the stockpile to public port is expected in July 2020
-- Cadence has raised GBP650,000 via a placing to;

o commission and publish an independent scoping study on the Amapá Project;

o fund Cadence's Amapá Project expenses;

o and facilitate the Company's flexibility in paying down its loan note facilities in accordance with its payment schedule.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to announce that DEV Mineração S.A., owner of the Amapá iron ore project ("Amapá Project") remains on target to commence the shipment of its stockpile of iron ore by the end of Q2 2020 or early Q3 2020 (subject to any potential logistical restrictions of COVID-19). Cadence, along with its joint venture partners continues to engage with the secured creditors to reach a settlement.

The Company is also pleased to announce that it has raised GBP650,000 through the placing ("Placing") of 7,222,219 new ordinary shares ("Placing Shares") in the capital of the Company to new and existing investors at an issue price of 9 pence per share ("Placing Price"), representing approximately 8% discount to closing price on 4th June 2020.

Cadence intends to use the net proceeds of the Placing to commission and publish an independent scoping study on the Amapá Project and to fund Cadence's Amapá Project expenses. We also expect to use the net proceeds of th

Premier Oil Share News (PMO)

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Share Name Share Symbol Market Type Share ISIN Share Description
Premier Oil Plc LSE:PMO London Ordinary Share GB00B43G0577 ORD 12.5P
Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
0.00 0.0% 31.80 31.52 31.80 0.00 0.00 0.00 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 1,194.9 77.3 15.0 2.0 267
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Premier Oil PLC Update on BP Acquisitions and creditor agreements
05/06/2020 7:00am
UK Regulatory (RNS & others)

Premier Oil (LSE:PMO)
Intraday Stock Chart

Friday 5 June 2020
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TIDMPMO

RNS Number : 0888P

Premier Oil PLC

05 June 2020

Premier Oil plc

("Premier" or "the Group" or "the Company")

Proposed revised terms for the BP acquisitions and agreements with creditors

5 June 2020

Highlights

-- Amended terms for the acquisition of the Andrew Area and Shearwater assets (together, the "BP Acquisitions") agreed in principle

o Cash payable at completion reduced to $210 million

o Estimated revised abandonment obligations reduced to c.$240 million (pre-tax) from c.$600 million (pre-tax)

-- Principal terms being discussed with a subset of Premier's creditors to waive the Group's financial covenants through to 30 September and to provide continued access to its revolving credit facilities ("Stable Platform Agreement"); once agreed and finalised, the terms will be put to the wider creditor group for approval

-- Settlement agreed with ARCM, the Group's largest creditor, under which:

o ARCM will withdraw its appeal of the Court's judgment approving the Schemes

o ARCM have undertaken to support the BP Acquisitions and the Stable Platform Agreement through the lender consent process

o Premier will issue 82.2 million new shares, representing 8.91 per cent of the enlarged Group, to ARCM at a price of 26.69p/sh, a 9.64 per cent discount to the volume weighted average price over the last five days; the proceeds from which will be used to fund part of the proposed BP acquisitions

Tony Durrant, CEO, commented:

"We are pleased to have agreed revised terms with BP for the proposed acquisition of the Andrew Area and Shearwater assets, which are materially value accretive for the Company. The Stable Platform Agreement, once agreed with and approved by lenders, will provide a basis for the Company to continue discussions regarding proposed amendments to the Group's existing credit facilities."

Enquiries

Columbus Energy Resources PLC Operational Update - Phase 2 CO2 Trinity Inniss
01/06/2020 7:00am
UK Regulatory (RNS & others)

Columbus Energy Resources (LSE:CERP)
Intraday Stock Chart

Monday 1 June 2020
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TIDMCERP

RNS Number : 4563O

Columbus Energy Resources PLC

01 June 2020

1 June 2020

COLUMBUS ENERGY RESOURCES PLC

("Columbus" or the "Company")

Operational update - Phase 2 of CO injection in Trinity Inniss field

Columbus, the oil and gas producer and explorer focused on onshore Trinidad and Suriname, is pleased to announce the start of Phase 2 of the CO Pilot Project in the Trinity Inniss field.

Leo Koot, Executive Chairman of Columbus, commented:

"The Company is very pleased to have started Phase 2 of the CO Pilot Project in the Trinity Inniss field, which has the potential to materially increase oil production in the field. Acting in conjunction with our partner, Predator Oil and Gas plc, we have already commenced injection of CO into the reservoir and will be building up to continuous injection in the coming weeks. The CO project is an important enhanced oil recovery project for both the Company and Trinidad and I look forward to updating the market as to the results of the CO injection in due course."

Background - Trinity Inniss CO Project

As previously announced, the term of the Trinity Inniss Incremental Production Service Contract ("IPSC") was extended to allow for the implementation of the CO Pilot Project.

Earlier in the year, the Company injected the first tank of CO into well AT5X in the Trinity Inniss field and is now proceeding with Phase 2, with the immediate objective of maintaining CO injection at the optimum peak rate of 9 metric tonnes per day. The Company will measure the impact of continuous CO injection on oil production in offset wells to AT5X and hopes to see material increases in production levels.

The Company's interest in the Trinity Inniss field benefits from an agreement with Predator Oil and Gas plc ("Predator"), whereby Predator plans and funds the CO EOR Pilot Project (the "CO pilot project"). As part of the agreement with Predator, the Company and Predator share 50:50 in any incremental oil production (after Predator recovers its costs associated with the project).

Qualified Person's statement:

Columbus Energy Resources PLC Saffron 2 - drilling application to Ministry
28/05/2020 7:00am
UK Regulatory (RNS & others)

Columbus Energy Resources (LSE:CERP)
Intraday Stock Chart

Thursday 28 May 2020
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TIDMCERP

RNS Number : 1306O

Columbus Energy Resources PLC

28 May 2020

28 May 2020

COLUMBUS ENERGY RESOURCES PLC

("Columbus", "CERP" or the "Company")

Saffron 2 - submission of drilling application to Ministry

Columbus, the oil and gas producer and explorer with operations in Trinidad and Suriname, is pleased to announce that it has submitted to the Ministry of Energy and Energy Industries (Trinidad & Tobago) a drilling application ("Drilling Application") for the Saffron 2 well in the South West Peninsula.

Summary

-- Saffron 2 to be drilled as a twin to Saffron 1, from the same drill pad

-- Saffron 2 to target the Lower Cruse intervals encountered in drilling Saffron 1, with a targeted Total Depth of 4557 feet

-- The key objective of Saffron 2 is an extended production test and subsequent conversion to a production well aimed to produce the circa 40deg API oil encountered in Saffron 1

-- Drilling Application consistent with commercial arrangement for a full carry of Saffron 2, as announced 27 April 2020

-- Approval of the Drilling Application by the Ministry would allow drilling in Q3 2020

Leo Koot, Executive Chairman, commented:

"We are delighted to have submitted a DRL2 application to the Ministry of Energy and Energy Industries to drill the Saffron 2 well, a follow up to the Saffron 1 well drilled earlier this year. Saffron 2 will be a twin to Saffron 1 and target the same Lower Cruse intervals where we discovered light, high quality oil (circa 40deg API) from two test intervals. The logging of Saffron 1 showed over 300 feet of high-quality sands so we are very excited to test and appraise these sands with Saffron 2.

As previously announced, we are pleased to have signed a Term Sheet with a third party drilling contractor to drill Saffron 2 subject to a stabilised oil price (above US$35 for a sustained period) and operating environment. I am pleased to note that the oil price has, in general, recovered from its recent lows in April 2020 and we are hopeful of a stabilised oil price in Q3 2020."

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