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RRTL sale update

12 Mar 2020 08:40

RNS Number : 9031F
Star Phoenix Group Ltd
12 March 2020
 

Star Phoenix Group Ltd

("Star Phoenix" or "the Company")

 

12 March 2020

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

RRTL SALE UPDATE

Star Phoenix (AIM: STA), an international company with oil and gas projects and oilfield service businesses in Trinidad and Indonesia, is pleased to advise that it has received US$0.5 million cash consideration from LandOcean Energy Services Co., Ltd ("LandOcean"), pursuant to the sale of Range Resources Trinidad Limited ("RRTL"). The remaining US$0.5 million plus late fees of 8% interest per annum, calculated daily from 12 February 2020 are expected to be paid by the end of March 2020. To date, the Company received the total of US$1 million from LandOcean pursuant to the RRTL sale.

The Company and LandOcean are continuing to progress with completion of the RRTL sale and debt restructure and are committed to closing the transaction as soon as practicable. The final US$1 million will be paid within five business days of the completion date.

 

 

Contact Details

 

 

Star Phoenix Group Ltd

Evgenia Bezruchko (Group Corporate Development Manager & Joint Company Secretary)

e. admin@starphoenixgroup.com

t. +44 (0)20 3865 8430

Cantor Fitzgerald Europe (Nominated Adviser and Broker)

David Porter / Rick Thompson (Corporate Finance)

t. +44 (0)20 7894 7000

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
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Date   Source Headline
8th Aug 20177:00 amRNSAcquisition of oil and gas interests in Indonesia
3rd Aug 20178:03 amRNSUpdate on LandOcean payment arrangements
26th Jul 20177:00 amRNSQuarterly Activities Report, Appendix 5B
13th Jul 20177:00 amRNSTermination of ADR Programme
2nd May 20177:00 amRNSRange signs SPA to acquire RRDSL
25th Apr 20177:00 amRNSChange of Registered Office
13th Apr 20177:00 amRNSQuarterly Activities Report, Appendix 5B
5th Apr 20177:00 amRNSGeorgia Update
17th Mar 20177:00 amRNSHalf-year Report
13th Mar 20177:30 amRNSSuspension - Range Resources Limited
13th Mar 20177:00 amRNSAgreement to acquire RRDSL and proposed RTO
17th Feb 20175:41 pmRNSInvestor Q&A
8th Feb 20177:00 amRNSUS$20 Million Convertible Note Financing
7th Feb 20177:00 amRNSResult of Meeting
1st Feb 20177:00 amRNSExpiry of Options
26th Jan 20177:00 amRNSQuarterly Activities Report, Appendix 5B
9th Jan 20179:40 amRNSNotice of GM
4th Jan 20177:00 amRNSTrinidad Operational Update
3rd Jan 20179:22 amRNSExpiry of Options
15th Dec 20169:19 amRNSUnlisted Options, Director/PDMR Shareholding
12th Dec 20167:00 amRNSExpiry of options
5th Dec 20167:00 amRNSTrinidad drilling programme update
2nd Dec 20162:05 pmRNSInvestor Q&A
1st Dec 20167:00 amRNSExpiry of Options
25th Nov 201611:56 amRNSResult of AGM
25th Nov 20169:13 amRNSCompany Presentation
24th Nov 20169:22 amRNSDirector resignation, withdrawal of AGM resolution
11th Nov 20167:00 amRNSTrinidad drilling programme update
1st Nov 20167:00 amRNSExpiry of Options
31st Oct 20167:00 amRNSUS$20 Million Convertible Note Financing
21st Oct 20167:00 amRNSNotice of AGM
19th Oct 20167:00 amRNSQuarterly Activities Report, Appendix 5B
3rd Oct 20167:00 amRNSExpiry of Options
3rd Oct 20167:00 amRNSAnnual Report 2016
3rd Oct 20167:00 amRNSCorporate Governance Statement
29th Sep 20167:00 amRNSReserves and Resources Update
27th Sep 20167:00 amRNSTrinidad Waterflood Projects Update
15th Sep 20167:01 amEQSColombia Update
12th Sep 20167:55 amEQSIssue of shares
1st Sep 201611:48 amEQSColombia Update
1st Sep 20167:00 amEQSExpiry of Options
31st Aug 20165:03 pmEQSInvestor Q&A
30th Aug 20167:00 amEQSTrinidad Drilling Update
9th Aug 20167:00 amRNSNew well spuds in Trinidad
4th Aug 20169:36 amRNSTrinidad Development Drilling Update
1st Aug 20167:00 amRNSExpiry of options
27th Jul 20167:00 amRNSQuarterly Activities Report, Appendix 5B
26th Jul 20167:00 amRNSExpiry of options
26th Jul 20167:00 amRNSUpdated Securities Trading Policy
18th Jul 20167:00 amRNSNew well spuds in Trinidad

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