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Hal's oily roundup

Hallucigenia
Lemon Quarter
Posts: 2570
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Re: Hal's oily roundup

#510019

Postby Hallucigenia » June 27th, 2022, 2:27 pm

Eco place above current shareprice to increase their holding in their South African block, Petro Matad still a bit thwarted by Covid restrictions in Mongolia, Caspian Sunrise desperately hoping Russia doesn't block Kaz exports, Touchstone approach gas production in August, Savannah start gas sales, solid well result from Arrow, 88 buy some seismic, Echo sneak in a somewhat sub-par production report in a news release about audit delays (grrr), Challenger welcome their new neighbours Shell and Apache in Uruguay, Argos need a director loan to maintain going concern whilst waiting for what obligations will be put on them from Falklands government in return for a licence extenstion, Pennpetro forgive Upland for some...miscommunication in an Upland RNS.
Also the Brent market looks really tight (or is being really, really squeezed), dated-to-front is over $6 at the moment :
https://www.cmegroup.com/markets/energy ... tures.html

And the situation in Libya is getting worse :
https://www.spglobal.com/commodityinsig ... e-oil-fuel

Brent=$113.6(June)               WTI=$107.91(July,Brent-5.69)   Nymex gas=$6.17(June)   
NBP =173.89p(June,Nymex+15.15) TTF=€131.500(July,Nymex+34.58) JKM=$37.095(August,Nymex+30.92)

Today 13:34 Lamprell plc (LAM)
Holding(s) in Company
https://www.investegate.co.uk/lamprell- ... 34553275Q/
On 24-Jun-2022, Premier Miton Group plc reduced from 5.553% to 0%.

Today 13:13 Echo Energy PLC (ECHO)
Result of Annual General Meeting
https://www.investegate.co.uk/echo-ener ... 13013239Q/
All resolutions put to the AGM passed.

Today 13:02 Thalassa Holdings Ltd (THAL)
Appointment of Broker
https://www.investegate.co.uk/thalassa- ... 0247EEPVJ/
it has appointed Peterhouse Capital Limited as its Broker with immediate effect.

Today 11:16 IOG PLC (IOG)
TR-1
https://www.investegate.co.uk/iog-plc-- ... 16393043Q/
On 24/06/2022, accounts managed on a discretionary basis by Lombard Odier Investment Managers group holding via Lombard Odier Asset Management (Europe) Limited reduced from 14.46% to 13.50%.

Today 09:46 China Pet &Chem Corp (SNP)
Report on Payments to Govts
https://www.investegate.co.uk/china-pet ... 46502867Q/
Surprised to see 30% of their taxes are paid in Angola, the rest China.

Today 09:45 Providence Resources (PVR)
Holding(s) in Company
https://www.investegate.co.uk/providenc ... 45012865Q/
Vevan Unlimited Company, now holds 94,655,735 ordinary shares of €0.001 each in the capital of the Company representing 8.83% of the issued ordinary share capital.

Today 09:13 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 13152755Q/
On 23-Jun-2022, Bank of America Corporation increased from 19.144% to 20.762% and adjusted their shares vs other formats.

Today 09:09 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 09352752Q/
On 22-Jun-2022, Bank of America Corporation increased from 19.144% to 19.837% and adjusted their shares vs other formats.

Today 07:22 Capricorn Energy PLC (CNE)
Transaction in Own Shares
https://www.investegate.co.uk/capricorn ... 22462599Q/
They bought back 9,463 shares at 215.73p = £20,414.53

Today 07:05 Eco (Atlantic) O&G (ECO)
Successful US$12.3 million Equity Fundraise
https://www.investegate.co.uk/eco--atla ... 05042574Q/
is pleased to announce the successful completion of an equity fundraise of US$12.3 million...33,406,531 new common shares in the capital of the Company ("Common Shares") and 33,406,531 warrants to subscribe for Common Shares have been conditionally placed with, or subscribed for by new and existing institutional investors (including from South African focused investors), at a price of 30p (CAD0.48) per Placing Unit or Subscription Unit (as applicable and defined below) (the "Issue Price"). Each 30p unit comprises one new Common Share and one warrant to purchase one new Common Share at a price of US$0.40625 (33p; CAD0.5215) for a period of three years.
Current price is 26p, although got to 40p recently.

Today 07:00 Eco (Atlantic) O&G (ECO)
Eco Acquires Additional Interest in Block 3B/4B
https://www.investegate.co.uk/eco--atla ... 00072077Q/
has signed a farmout agreement (the "Agreement ") pursuant to which its wholly owned subsidiary , Azinam Limited ("Azinam "), will acquire an additional 6.25% Participating Interest in Block 3B/4B, offshore South Africa from the Lunn Family Trust (the "Vendor"), one of the shareholders of Ricocure (Proprietary) Limited...On Completion of the Acquisition, Eco Atlantic will, through Azinam, hold a 26.25% Participating Interest in Block 3B/4B, with strategic alliance partners, Africa Oil Corp., the Operator of the block, holding a 20% Participating Interest, and Ricocure, which holds the remaining 53.75% Participating Interest .....The aggregate dollar equivalent consideration payable by the Company to the Vendor under the Agreement is US$10m [mix of cash and shares]

Today 07:00 Petro Matad Ltd (MATD)
Final Results for Year Ended 31 December 2021
https://www.investegate.co.uk/petro-mat ... 00072060Q/
The Covid-19 control restrictions imposed by China at its land border crossings with Mongolia have started to ease. On 20 June, the northerly of the two oil export border crossings at Bayankhoshuu was opened and oil export from the PetroChina operated fields has resumed. The southerly oil export crossing at Bichigt remains closed. China has not yet opened the border crossing to the passage of consumables and equipment, although the oil field contractors are hopeful that this will happen soon. Transfer of personnel across the land borders is not expected to be allowed by the Chinese authorities in the near future; therefore, service providers are looking at flying in their crews when internal travel restrictions within China allow.
· Following the Cabinet resolution in April on expediting a solution to the land access issues for oil exploration and production companies, draft amendments to the Land Law have been prepared by the relevant ministries for presentation to Parliament to resolve the existing conflicts within the legislation. At the same time, Petro Matad is in dialogue with MRPAM to obtain the special purpose land certification for its areas of operation which will secure long-term land access. Until this certification is issued, land use permits are required to be granted by the local authorities and to date, in the province in which Petro Matad's Block XX Exploitation Area is located, they have not done so. Petro Matad is not the only operator impacted in this way.
· As of 31 December 2021, the Group's cash position was $8.2 million, including Term Deposits (Financial Assets) (31 December 2020: $1.0 million)
· The Group's net loss after tax for the twelve months ended 31 December 2021 was $2.1 million (31 December 2020: loss $3.2 million)
As we have said before, we are prioritising bringing Heron 1 into production and we are still targeting first oil this year.

Today 07:00 Caspian Sunrise plc (CASP)
Annual Report and Financial Statements
https://www.investegate.co.uk/caspian-s ... 00062055Q/
· Aggregate production for 2021 was 533,857 barrels (2020: 545,667) a decrease of approximately 2.2%
· Reserves at 31 December 2021 P1 15.1 mmbls & P2 26.3 mmbls (2020: P1 15.6 mmbls & P2 26.8 mmbls)
· Revenue: up 75% at $25 million (2020: $14.3 million)
· Loss after tax for the year $5.5 million (2020: $3.5 million)
· Cash at bank: $0.4 million (2020: $0.3 million)
· Total assets: $114.2 million (2020: $125.7 million)
As with much of Kazakh oil production our oil is transported to international markets via the Russian pipeline network, emerging as "Urals Oil" as our oil was until very recently termed once mixed with Russian oil. While we have not experienced any significant issues in delivering our oil, recent prices for Urals Oil have been some $25 - $35 per barrel below Brent prices.
While we will continue to look at early-stage projects, such as in 2008 when we acquired our interest in BNG, our concentration will be on cashflow positive producing assets and for the right projects we would look beyond Kazakhstan. A decade ago we looked at alternative energy projects but concluded the returns then available did not match those at BNG. The economics of alternative energy are now markedly better. We are therefore looking over time to become a diversified energy group rather than one focused solely on oil. In particular we are looking at wind energy projects....
the Board anticipates declaring the first dividend later this year.
[but at the same time, there is some concern about their viability as a going concern, a significant blockade of Kazakh oil has the potential to be terminal despite the alternatives they list. Down 15% today]

Today 07:00 Mosman Oil & Gas (MSMN)
Operations Update
https://www.investegate.co.uk/mosman-oi ... 00062071Q/
Production for the three months ending 31 March 2022 was 22,409 boe (Gross), 11,756 boe (Net attributable to Mosman). Final June quarter numbers will be announced in late July and in the interim Mosman advises the preliminary numbers for the two months ending 31 May 2022 are: 15,682 boe (Gross), 6,276 boe (net attributable to Mosman).
- In May production stopped at the Falcon well. An initial workover was attempted but was not successful. Planning is now underway to attempt to restore production.

Today 07:00 Touchstone Explrtn. (TXP)
OPERATIONAL UPDATE
https://www.investegate.co.uk/touchston ... 00072086Q/
provides an update on the operational progress across the Ortoire block, onshore Trinidad. Touchstone has an 80 percent operating working interest in Ortoire block....
· The pipeline from our Coho facility to the Central block has been completed, and hydrotesting is scheduled to commence this week upon which the pipeline will be ready for first gas.
· Upon completion of the tie-in, commissioning and handover of the pipeline, Coho natural gas production will commence with the expectation that production will increase over time to 10 MMcf/d (1,667 boe/d) gross, 8 MMcf/d (1,333 boe/d) net.
· Based on the current contractor schedule and expected pipeline commissioning and handover process, we are targeting full production in August 2022.
· Initial gross aggregate natural gas and associated liquids production from our Cascadura-1ST1 and Cascadura Deep-1 wells has been budgeted at 11,500 boe/d (9,200 boe/d net), and the Cascadura natural gas processing facility has been designed for a maximum gross capacity of approximately 200 MMcf/d of natural gas and 5,000 bbls/d of associated liquids (38,333 boe/d).
· We continue to wait for the approval of the Environmental Impact Assessment ("EIA"), with all the relevant reports and information submitted for regulatory review. Following the anticipated approval and submission of the required notice periods, we intend to proceed with construction of the surface facility, access roads, liquids pipeline and future development drilling locations. The onstream date of the Cascadura facility will be determined by the timing of receipt of the EIA approval.

Today 07:00 Arrow Exploration (AXL)
Arrow Announces Test Results of RCS-1 Well
https://www.investegate.co.uk/arrow-exp ... 00072081Q/
The RCS-1 well was spud on May 23, 2022. RCS-1 targeted a three-way fault bounded structure with multiple high-quality reservoir objectives on the Tapir Block in the Llanos Basin of Colombia. The well was drilled to a total measured depth of 8,656 feet (8,105 feet true vertical depth) and encountered six hydrocarbon bearing intervals totaling 55 net feet of oil pay....
We're encouraged by the material results of RCS-1, the third well on the Tapir block. RCS-1 identified new zones for further exploitation with flowing results returning better than expected.

Today 07:00 Savannah Energy Plc (SAVE)
First Gas Sales to Central Horizon Gas Company Ltd
https://www.investegate.co.uk/savannah- ... 00072090Q/
is pleased to announce that Accugas Limited ("Accugas"), the Company's 80% indirectly owned subsidiary, has commenced gas sales to Central Horizon Gas Company Limited...

Today 07:00 88 Energy Limited (88E)
Projects Update: Icewine East & Longhorn
https://www.investegate.co.uk/88-energy ... 00072079Q/
Licensing agreement signed with SAExploration, Inc. (SAE) for use of SAE's Franklin Bluffs 3D seismic survey data (FB3D), covering a significant area over the Project Icewine East leases. Critically, the FB3D covers an area over the SMD, SFS and BFF reservoir units, which are interpreted to extend from Pantheon Resources' (Pantheon) acreage onto Icewine East....Upfront license fee includes, as part of the initial payment, US$1.0M in new 88E shares...new exploration well currently being planned to spud in 2023... Project Longhorn production has increased over 70% since acquisition...the joint venture participants have agreed to accelerate the capital development program and the completion of the remaining four planned work-overs. As part of this agreement, 88 Energy has agreed to part fund its share of the anticipated US$3.5 million (net) in development capital through the issuance of US$3.0 million in 88 Energy shares (approximately 544 million shares at an issue price of A$0.008 per share, being the closing price of 88 Energy shares on the ASX on 24 June 2022) to Lonestar I, LLC ( Lonestar ), to fund Longhorn's working capital contributions towards the remaining CY2022 capital development program
[~4.3% dilution, but why can't they consolidate the shares....]

Today 07:00 Echo Energy PLC (ECHO)
Extension to publication of 2021 Accounts
https://www.investegate.co.uk/echo-ener ... 00082588Q/
AIM Regulation has granted the Company an additional period of up to two months to publish its annual audited accounts for the year ended 31 December 2021. The Company must therefore publish its annual audited accounts for the year ended 31 December 2021 (the "2021 Annual Report") by 31 August 2022 but will endeavour to do so as soon as possible. This additional period is in view of the adverse impact of COVID-19 having resulted in delays in the ability of the local Argentinian Santa Cruz Sur joint venture entity in which Echo holds a 70% interest (the "SCS JV") to provide information to its Argentinian auditor. As a result, the Argentinian auditor has been delayed in the finalisation of the SCS JV audit, which the Company now expects to be concluded during July 2022. ...
Whilst remaining subject to audit, the Company confirms that it expects to report revenues for the year ended 31 December 2021 of US$11.1m (2020: US$11.1m) and net long-term debt of US$29.0m as at 31 December 2021 (2020: $30.0m). As announced by the Company on 14 January 2022, total 2021 cumulative production from Santa Cruz Sur net to Echo's 70% interest in the Santa Cruz Sur assets was 567,370 boe (including 2,920 MMscf of gas).
They sneak in a production update (which is why I try to read even what look like routine announcements) - down a bit due to maintenance, but the new sales contracts more than make up for that

Today 07:00 Challenger Energy (CEG)
Uruguay Update
https://www.investegate.co.uk/challenge ... 00082098Q/
notes recent commentary on the recent Uruguay licensing round and in relation to its AREA OFF-1 petroleum licence offshore Uruguay, and provides the following context:
...three offshore blocks in Uruguay have been licenced ...Two blocks have been awarded to Shell - the shallow offshore block immediately adjacent to Challenger's OFF-1 block (AREA OFF-2), and one deep-water block (AREA OFF-7). ANCAP has reported that the work Shell committed to undertake in relation to these blocks in the initial 4-year exploration period includes the acquisition of new 3D seismic....
Challenger Energy considers the entry into Uruguay of two well regarded international companies, and the commitment by both to undertake sizeable and meaningful work programs during an initial exploration period (including 3D seismic acquisition and new well drilling), to be a highly positive development, validating both the Company's decision to enter Uruguay in 2020 and underscoring the solid technical foundation and excellent value proposition represented by the OFF-1 block.

Today 07:00 Genel Energy PLC (GENL)
Receipt of payments for KRI oil sales
https://www.investegate.co.uk/genel-ene ... 0005ERGYE/
Genel Energy plc ('Genel' or ‘the Company’) announces that all payments have now been received from the Kurdistan Regional Government (‘KRG’) relating to oil sales during March 2022....Following the receipt of the receivable recovery payment, Genel is now owed $68 million from the KRG for oil sales from November 2019 to February 2020 and the suspended override from March to December 2020.

Today 07:00 Lekoil Limited (LEK)
Litigation update
https://www.investegate.co.uk/lekoil-li ... 00082031Q/
provides the following update in respect of the claim by Mr Akinyanmi, in the Cayman Islands, seeking a declaration (amongst others) that the Share Allotment Resolutions passed at the Company's AGM on 21 December 2021 were ultra vires and void. Mr Akinyanmi has applied to the Court to: (i) add Lekoil Nigeria as a Plaintiff; (ii) add the parties to the Convertible Facilities Agreements as Defendants; and (iii) for certain ancillary orders and directions necessary to give effect to (i) and (ii). The Court has consented to Mr Akinyanmi's application.

Today 07:00 Great Eastern Energy (GEEC)
Notification of full year results
https://www.investegate.co.uk/great-eas ... 00081672Q/
will announce results for the year ended 31 March 2022 on Friday, 8 July 2022.

Today 07:00 Kosmos Energy Ltd (KOS)
Report on Payments to Govts
https://www.investegate.co.uk/kosmos-en ... 00048780P/
Kosmos Energy Ltd. has prepared the following consolidated report in respect of payments made to governments for the year ended 31 December 2021 in accordance with the Reports on Payments to Governments Regulations 2014

Today 07:00 Victoria Oil & Gas (VOG)
Change of Registered Office
https://www.investegate.co.uk/victoria- ... 00052035Q/
Victoria Oil & Gas Plc announces that its registered office address has changed to Scott House, Suite 1, The Concourse, Waterloo Station, London SE1 7LY, with immediate effect.
[Being based at Waterloo makes it easier to do a runner?!?]

Today 07:00 Cadogan Petroleum Plc (CAD)
Result of AGM
https://www.investegate.co.uk/cadogan-p ... 0000P247D/
The Annual General Meeting of Cadogan Petroleum plc was held on Friday 24th June 2022 at 2.00pm at the offices of Shakespeare Martineau LLP, 6th Floor, 60 Gracechurch Street, London EC3V 0HR. The Directors of the Company wish to announce that all resolutions proposed at the AGM were passed.

Today 07:00 UK Oil & Gas PLC (UKOG)
Director/PDMR Shareholding
https://www.investegate.co.uk/uk-oil--- ... 00081989Q/
CEO buys £1k

Friday 18:27 Shell plc (SHEL)
Director/PDMR Shareholding
https://www.investegate.co.uk/shell-plc ... 2738H1019/
the vesting of a conditional award granted on June 18, 2021 under the Powering Progress Share Award (“PPSA”).

Friday 18:00 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 00011916Q/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Friday 16:57 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 57131879Q/
They bought back 9,500,000 shares at 380.956p = £36,190,786.50

Friday 16:49 Shell plc (SHEL)
Transaction in Own Shares
https://www.investegate.co.uk/shell-plc ... 4930H1001/
They bought back 4,732,000 shares at £20.521 = £97,105,580

Friday 16:35 PJSC Tatneft (ATAD)
Result of AGM
https://www.investegate.co.uk/pjsc-tatn ... 35401828Q/
All approved

Friday 16:35 Arrow Exploration (AXL)
Price Monitoring Extension
https://www.investegate.co.uk/arrow-exp ... 35181839Q/
https://uk.finance.yahoo.com/quote/AXL.L/chart
On the day it's jumped +10.6% with a spike to +11%. Over the last 2 weeks it's down -24.2% having touched -35%.

Friday 16:35 Challenger Energy (CEG)
Price Monitoring Extension
https://www.investegate.co.uk/challenge ... 35441845Q/
https://uk.finance.yahoo.com/quote/CEG.L/chart
On the day it's jumped +13.6%. Over the last 2 weeks it's been in the usual range. [neighbouring blocks in Uruguay licensed to majors, see Monday]

Friday 14:42 Pennpetro Energy PLC (PPP)
Clarification re Farm-In, Tunisian Saouaf Licence
https://www.investegate.co.uk/pennpetro ... 42241744Q/
would like to clarify the recent RNS statement issued by Upland Resources Limited ("Upland") on 20 June 2022, which caused deep market uncertainty as to the status of its Saouaf permit in Tunisia and specifically as to the intending role of the Company. Upland sent official apologies to Pennpetro for the unintended consequences caused by the narrative in its announcement, and in his address to Pennpetro's management, Mr. Amin Azal Nasharuddin, a Board director of Upland Resources Limited, confirmed that Pennpetro retains the exclusivity to the Farm-In to the Saouaf Permit until 15 July 2022, while both parties use their best efforts to finalise and execute the Farm-Out Agreement currently in draft form.
Oops.

Friday 13:28 Argos Resources Ltd (ARG)
Licence PL001, Funding and Publication of Results
https://www.investegate.co.uk/argos-res ... 28031629Q/
The Company is currently in discussions with FIG regarding the terms on which a further extension of the PL001 Licence may be granted, to enable Argos to undertake the necessary technical work to progress the project. The Board expects that any extension beyond 31 December 2022 would be subject to certain technical commitments from the Company, which would require Argos to raise additional capital....
Mr Ian Thomson, OBE, Chairman of Argos, has agreed to provide a loan facility of up to £110,000 to the Company...The Loan Facility, along with the Company's existing resources of £100,000 as of 24 June 2022, will provide the Company with sufficient working capital until July 2023 [but would have failed going concern otherwise]

Hallucigenia
Lemon Quarter
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Re: Hal's oily roundup

#510313

Postby Hallucigenia » June 28th, 2022, 4:29 pm

Tomco didn't quite manage to finalise their financing before their interims, but sound hopeful that they will get the >£100m finance within weeks to enable them to take a full 100% of their asset. Petrofac on track, Lamprell default on their finance but the market loves it, presumably anticipating a Blofeld takeover, reading between the lines relations are...strained...there.
Saltfleetby will have first gas next week whilst Savannah start sales to another customer, contracts for Nostrum and GETECH, Baron promise movement on Timor-Leste and Dunrobin in Q4, Coro results promise jam not-very-far-away, Petrel are still promising enough marmalade to set up Paddington for life, Pressure Tech had disappointing results but promising that hydrogen and defence spending will save them next time.
Chariot win the "careful with shareholders cash" prize for an AGM at a 5* Mayfair hotel, but I bet the nibbles will be nice.

Brent=$117.18(June)           WTI=$110.87(July,Brent-6.31)    Nymex gas=$6.56(June)   
NBP =174p(June,Nymex+14.66) TTF=€129.405(July,Nymex+33.37) JKM=$37.090(August,Nymex+30.53)

Today 16:00 Rockhopper Exp plc (RKH)
Result of AGM
https://www.investegate.co.uk/rockhoppe ... 00255212Q/
All resolutions put to the meeting were duly passed at the AGM and the results of the poll are set out below. A presentation providing shareholders with an update is now available on the Company's website

Today 15:47 Thalassa Holdings Ltd (THAL)
Result of AGM
https://www.investegate.co.uk/thalassa- ... 4728EEROB/
The Company held its Annual General Meeting (“AGM”) on 28 June 2022. All resolutions set out in the AGM notice sent to shareholders dated 9 June 2022 were duly passed with 100% of votes cast.

Today 14:51 Sound Energy PLC (SOU)
Result of AGM
https://www.investegate.co.uk/sound-ene ... 51575137Q/
resolutions put to Shareholders at the Annual General Meeting (AGM) of the Company held earlier today were duly passed.

Today 14:00 Advance Energy PLC (ADV)
Price Monitoring Extension
https://www.investegate.co.uk/advance-e ... 00585061Q/
https://uk.finance.yahoo.com/quote/ADV.L/chart
On the day it's been in the usual range.

Today 14:00 Providence Resources (PVR)
Price Monitoring Extension
https://www.investegate.co.uk/providenc ... 00505059Q/
https://uk.finance.yahoo.com/quote/PVR.L/chart
On the day it's soared +32.7% with a spike to +40%. Over the last 2 weeks it's jumped +27% with a spike to +34%.

Today 13:40 UK Oil & Gas PLC (UKOG)
Result of Annual General Meeting
https://www.investegate.co.uk/uk-oil--- ... 40055037Q/
all 5 resolutions put to shareholders were duly passed.

Today 13:36 Baron Oil PLC (BOIL)
Result of AGM
https://www.investegate.co.uk/baron-oil ... 36205034Q/
each of its five resolutions were duly passed by more than 99% of votes in favour at its Annual General Meeting held earlier today.

Today 13:08 S.N.G.N. Romgaz S.A. (SNGR)
Availability of 2021 Sustainability Report
https://www.investegate.co.uk/s.n.g.n.- ... 08134937Q/
The fifth Sustainability Report of ROMGAZ Group...is available on the company's website, http://www.romgaz.ro , under Investors - Annual Reports - 2021.

Today 12:08 Angus Energy PLC (ANGS)
Saltfleetby Commissioning Update
https://www.investegate.co.uk/angus-ene ... 08134814Q/
Angus Energy (AIM: ANGS) is pleased to announce the conclusion of leak testing and the commencement of commissioning of the Saltfleetby Gas Field. is pleased to announce the conclusion of leak testing and the commencement of commissioning of the Saltfleetby Gas Field. The duration of commissioning is expected to take between one and two weeks with a target date for first gas export (ie sales) between the 7th and 12th July. The hedged volume for July to September inclusive is for 3.375 million therms. The expected output during that period from existing wells B2 and A4, assuming a start date of 1 July is approximately 5 million therms and comfortably exceeds the hedged amount.

Today 11:39 Nostrum Oil & Gas (NOG)
Update on Agreements with Ural Oil & Gas LLP
https://www.investegate.co.uk/nostrum-o ... 39274743Q/
it has been informed by Ural Oil & Gas LLP ("Ural") that Ural has signed a turnkey contract for complex construction works with a contractor in relation to Ural's Rozhkovsky Field Development Project. As previously announced, Nostrum's wholly-owned subsidiary Zhaikmunai LLP ("Zhaikmunai") and Ural signed agreements in 2018 pursuant to which Zhaikmunai will process gas from Ural's Rozhkovsky Field...The Rozhkovsky Field is expected to start up production in the fourth quarter of 2023.

Today 11:00 Advance Energy PLC (ADV)
Price Monitoring Extension
https://www.investegate.co.uk/advance-e ... 00514653Q/
https://uk.finance.yahoo.com/quote/ADV.L/chart
On the day it's ended in the usual range but at one point spiked down to -18.2%. Over the last 2 weeks it's been in the usual range.

Today 11:00 Providence Resources (PVR)
Price Monitoring Extension
https://www.investegate.co.uk/providenc ... 00224649Q/
https://uk.finance.yahoo.com/quote/PVR.L/chart
On the day it's soared +36.4% with a spike to +36%. Over the last 2 weeks it's jumped +30.4% with a spike to +30%.

Today 10:40 Vivo Energy (VVO)
Holding(s) in Company
https://www.investegate.co.uk/vivo-ener ... 40084548Q/
On 21-Jun-2022, JPMorgan Chase & Co. increased from 5.616% to 5.707%.

Today 08:36 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 36064363Q/
On 24-Jun-2022, Kite Lake Capital Management (UK) LLP increased from 4.23% to 5.015%.

Today 07:30 Pharos Energy PLC (PHAR)
DIRECTORS/PDMR SHAREHOLDINGS
https://www.investegate.co.uk/pharos-en ... 30003497Q/
Jann Brown, the Chief Executive Officer and Sue Rivett, the Chief Financial Officer, purchased Pharos Energy plc ordinary shares of £0.05 each ("Shares") at a purchase price of £0.208 per Share.

Today 07:10 Capricorn Energy PLC (CNE)
Transaction in Own Shares
https://www.investegate.co.uk/capricorn ... 10033766Q/
They bought back 14,271 shares at 217.47p = £31,035.14

Today 07:00 Coro Energy PLC (CORO)
Final Results
https://www.investegate.co.uk/coro-ener ... 00063712Q/
We are all extremely confident in what we can achieve in 2022, including our first rooftop Solar Project in Vietnam becoming revenue generative....
The 2021 loss before tax from continuing operations was $6.5m (2020: loss $8.0m). The overall loss before tax saw only a slight increase of $0.4m in general and administrative ("G&A") expenses offset by a gain on foreign exchange of $1.6m (2020: loss $1.1m) due to the strength of the US dollar against the Euro... at 31 December 2021 the Group had cash reserves of $3.3m

Today 07:00 TomCo Energy PLC (TOM)
Interim Results
https://www.investegate.co.uk/tomco-ene ... 00043690Q/
Greenfield is engaged in ongoing discussions regarding possible funding options, including a due diligence exercise with a potential funder, to potentially achieve the ultimate acquisition of 100% of the Membership Interests, as well as the drilling of several production oil wells and the planned first 5,000 barrels of oil per day production plant, whilst progressing other preparatory work....
The Company currently anticipates that the necessary permits will be secured in time for drilling to commence in Q3 2022, assuming the requisite funding has been obtained beforehand, with initial production expected to occur in Q4 2022. The number of wells to be permitted has been increased from an initially planned five to seven....
The [placing] proceeds are also being utilised to cover the Company's expenses in relation to an ongoing due diligence exercise in order to secure potential funding of up to US$145 million for Greenfield. Whilst there is no certainty that such funding arrangements will be satisfactorily concluded, or as to the terms of any such funding, such non-equity financing, if secured, would enable Greenfield to acquire the remaining 90% of the Membership Interests in TSHII and cover the currently estimated construction costs of an initial 5,000 barrels per day oil production plant and the requisite associated supporting infrastructure to enable the future mining of oil baring sands at the TSHII site.... I am optimistic, based on discussions with potential funders to date, that the required funding to implement our plans can be secured in due course.

Today 07:00 TomCo Energy PLC (TOM)
Further Extension of Valkor Loan Repayment Terms
https://www.investegate.co.uk/tomco-ene ... 00043686Q/
announces a further extension to the repayment date for the unsecured US$1.5 million loan from Valkor Oil & Gas LLC ("Valkor") to the Company's wholly owned subsidiary, Greenfield Energy LLC ("Greenfield") (the "Loan"), which was utilised for the acquisition of the initial 10% of the Membership Interests in Tar Sands Holdings II LLC (" TSHII"), as announced on 16 November 2021.
On 31 May 2022, the Company announced that the terms of the Loan had been varied in order to extend the scheduled repayment date to on or before 30 June 2022. The terms of the Loan have now been further varied in order to extend the repayment date to on or before 31 July 2022.

Today 07:00 PressureTechnologies (PRES)
2022 Interim Results
https://www.investegate.co.uk/pressuret ... 00043710Q/
●Group revenue of £9.5 million (2021: £14.5 million)
●Gross profit of £2.1 million (2021: £4.7 million)
●Adjusted operating loss1 of £2.1 million (2021: profit £1.1 million)
●Reported loss before tax of £2.3 million (2021: profit £0.2 million)
●Reported basic loss per share of 6.0p (2021: earnings per share 0.8p)
●Adjusted basic loss per share2 of 5.7p (2021: earnings per share 2.9p)
●Adjusted operating cash outflow3 of £0.6 million (2021: outflow £1.4 million)
●Net borrowings4 of £5.4 million (2 October 2021: £4.9 million)
● [CSC]Order book reached over £14.5 million at the end of March 2022, the highest level for more than five years, driven by strong growth in UK and overseas defence markets
●Hydrogen project revenue over the twelve-month period to 2 April 2022 was significantly higher at £2.4 million (twelve-month period to 3 April 2021: £0.5 million)
●Enquiries increasing for large-scale green hydrogen ground storage facilities and for hydrogen road trailers in the UK and Europe , with orders expected to grow significantly into 2023 and beyond
●Strong second-half performance expected for CSC, with revenue of more than £11.0 million already in the orderbook for delivery by the end of September 2022, driven by high-value defence contract milestones, Integrity Management deployments and hydrogen energy projects
●Recovery of order intake levels in PMC expected to continue throughout the second half of the year as OEM customers report a stronger oil and gas market outlook and the division is expected to return to profitability by the end of the first quarter of FY23
●Notwithstanding the current economic climate and cost-inflationary pressures across the Group's operations and supply chains, the Board remains confident in meeting full-year market expectations

Today 07:00 Petrel Resources PLC (PET)
Audited Results for the Year Ended 31st Dec 2021
https://www.investegate.co.uk/petrel-re ... 00033540Q/
The Company's Annual General Meeting will be held on 5 August 2022 in the Hotel Riu Plaza The Gresham, 23 O'Connell Street Upper, Dublin 1, D01 C3W7 at 12.00 pm.
● Petrel's Iraqi business is being re-galvanised, with data bases being updated, and updated proposals submitted to the incoming administration.
● Ratification plan agreed-in-principle with Ghanaian authorities - though ideally needs recovery of the farm-out market, to fund an early well.
● Additional projects being considered to serve surging commodity demand.
Our main focus in the period under review was on re-energising our Iraqi business. This required resolving an outstanding issue of circa 20% disputed shareholdings. This has been complicated to untangle due to an apparent breach of a 2019 lock-in agreement, by wrongful pledging of these shares, and resulting legal actions.
Though Petrel acted properly throughout, as was confirmed by the High Court with the award of an open-ended injunction, life must go on. Counter-parties want certainty of whom they are dealing with, while expansion plans require higher activity and funding. By end-May 2022, the complicated issue seems finally resolved, so Petrel can resume growth.
Now licensing terms are being reviewed, and we expect more economically attractive terms necessary to return Iraqi output to the pre-C-19 4.7mmbod, and eventually to rival Saudi Arabia and Russia.

Today 07:00 Petrofac Limited (PFC)
Trading Update
https://www.investegate.co.uk/petrofac- ... 0005EUNFJ/
Trading and expectations in line with guidance provided in the AGM statement
Given the improved macro environment, E&C is expected to secure strong order intake in the second half and deliver backlog growth year on year
Continued robust performance and order intake in Asset Solutions; on track to deliver full year EBIT margin of 5-6%, in line with guidance
Strong IES performance driven by higher production and stronger oil price
Well positioned with a healthy Group pipeline scheduled for award in the next 18 months
Net debt of US$345 million(4) and liquidity of US$507 million(5) at 23 June 2022, with net debt expected to reduce in the second half

Today 07:00 Baron Oil PLC (BOIL)
AGM Statement
https://www.investegate.co.uk/baron-oil ... 00073746Q/
Based on the success of our first live investor presentation in late January 2022, which was attended by more than 100 participants, we anticipate holding a second similar Chuditch focused event at an appropriate juncture later in 2022. [so no Timor-Leste farmin imminent then]...Currently, we are targeting a decision in Q4 2022 on whether to enter an appraisal and step-out drilling phase in 2023.
An updated evaluation of Dunrobin is anticipated to be available during Q4 2022, which will provide sufficient time for us to consider our strategy with our partners, potentially including engaging with prospective drilling and funding partners, ahead of the July 2023 'drill or drop' decision.

Today 07:00 GETECH Group plc (GTC)
New geospatial services contract
https://www.investegate.co.uk/getech-gr ... 00073751Q/
it has signed a 5-year extension to a multi-faceted geospatial services contract with a customer of its transitional petroleum division. The new contract has a total value of £1.65 million.
Services provided by Getech will include the design, implementation and management of geospatial operating systems that are essential for aboveground safety, environmental protection, and security on a large and complex asset.

Today 07:00 Savannah Energy Plc (SAVE)
First Gas Sales to TransAfam Power Limited
https://www.investegate.co.uk/savannah- ... 00083792Q/
is pleased to announce that Accugas Limited ("Accugas"), the Company's 80% indirectly owned subsidiary, has commenced gas sales to TransAfam Power Limited ("TAPL") in relation to the provision of gas for use at its power plants in Rivers State, Nigeria.

Today 07:00 Jadestone Energy PLC (JSE)
Chief Financial Officer appointment
https://www.investegate.co.uk/jadestone ... 00043711Q/
is pleased to announce the appointment of Bert-Jaap Dijkstra as Chief Financial Officer ("CFO") and director of the Company, effective 1 September 2022.
Mr Dijkstra joins Jadestone from SBM Offshore, where he held a number of finance and management roles since 2013. Most recently he served as Group Treasurer and Director of Investor Relations. In this role he has built significant experience of equity and debt capital markets. He has been directly responsible for managing all financing activities for SBM Offshore, including structuring c.US$5 billion in recent project financings, managing the group's financial risk (including hedging programmes), optimisation of funding sources and corporate finance. He was voted best investor relations professional for the energy services sector in the 2019 Extel and in the 2020 and 2021 Institutional Investor surveys.

Today 07:00 Pantheon Resources (PANR)
TR-1: Notification of major holdings
https://www.investegate.co.uk/pantheon- ... 00093726Q/
On 23/6/2022, CHONS LLC holding via Farallon Capital Management, L.L.C. ("Farallon") reduced from 8.96% to 4.959%.

Today 07:00 Chariot Limited (CHAR)
Posting of Annual Report and Notice of AGM
https://www.investegate.co.uk/chariot-l ... 00093651Q/
The Annual General Meeting ("AGM") will be held on 8 September 2022 at 11.00 am at the May Fair Hotel, Stratton Street, London, W1J 8LT. Please can shareholders attending in person arrive at 10.30 am for a 11.00 am start. Once the formal business of the AGM has concluded, management will go through the latest version of the corporate presentation which will be followed by a Q&A session and refreshments.
[hmmm - 5* hotel between Berkeley Square and the Ritz, does not suggest "careful with shareholder funds". I stayed there once on a lastminute deal when Radisson were refurbing it - let's just say it needed it. But I bet the refreshments will be good.]

Today 07:00 Gulf Keystone Petrol (GKP)
TR-1
https://www.investegate.co.uk/gulf-keys ... 00093762Q/
On 24-Jun-2022, BlackRock, Inc. reduced from 5.08% to below 5%.

Yesterday 18:00 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 00003580Q/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Yesterday 18:00 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 00533663Q/
They bought back 9,500,000 shares at 390.477p = £37,095,278.50

Yesterday 17:33 Diversified Energy (DEC)
Director/PDMR Shareholdings
https://www.investegate.co.uk/diversifi ... 33093630Q/
on 23 June 2022 and 27 June 2022, Sandra Stash, Independent Non-Executive Director of the Company's Board of Directors, acquired an aggregate 17,856 ordinary shares of 1p each in the Company ("Ordinary Shares") through the market at an average price of 111.65 pence per Ordinary Share. Following this purchase, Mrs. Stash is now interested in 17,856 Ordinary Shares representing approximately 0.002% of the Company's issued share capital.

Yesterday 17:23 Savannah Energy Plc (SAVE)
Holding(s) in Company
https://www.investegate.co.uk/savannah- ... 23393620Q/
On 24-Jun-2022, abrdn plc reduced from 11.772% to 10.948%.

Yesterday 17:10 Lamprell plc (LAM)
Debt facility update
https://www.investegate.co.uk/lamprell- ... 10063593Q/
Lamprell provides an update on the status of the $45 million UAE Export Credit Agency backed revolving trade loan facility (the "Facility"), which was agreed in October 2021 to assist with the working capital requirements of the two IMI newbuild jackup rigs which are currently under construction at the Group's Hamriyah yard.
As announced on 24 June 2022, under the terms of the Facility, the Company was required to make an initial milestone repayment of $26.4 million on 27 June 2022. The Company confirms that it has not made the initial milestone repayment and continues to work with the lending banks and also Blofeld Investment Management...
This announcement has been made without the consent of Blofeld. [after an initial dip, it's up 23% today - is that Blofeld just going for it?]

Yesterday 16:49 Shell plc (SHEL)
Transaction in Own Shares
https://www.investegate.co.uk/shell-plc ... 4918H1394/
They bought back 4,118,408 shares at £21.144 = £87,081,399

Yesterday 16:35 Arrow Exploration (AXL)
Price Monitoring Extension
https://www.investegate.co.uk/arrow-exp ... 35383530Q/
https://uk.finance.yahoo.com/quote/AXL.L/chart
On the day it's jumped +9.6% with a spike to +20%. Over the last 2 weeks it's been in the usual range.

Yesterday 16:35 Igas Energy PLC (IGAS)
Price Monitoring Extension
https://www.investegate.co.uk/igas-ener ... 35253529Q/
https://uk.finance.yahoo.com/quote/IGAS.L/chart
On the day it's been in the usual range.

Yesterday 16:32 Wentworth Resources (WEN)
Long Term Incentive Plan Awards
https://www.investegate.co.uk/wentworth ... 32573518Q/
On 24 June 2022 an award was made under the Long-Term Incentive Plan ("LTIP") to Richard Tainton as set out below: [1,016,430 vesting 23 June 2025]

Yesterday 16:00 ADM Energy PLC (ADME)
Notice of AGM and Publication of Annual Report
https://www.investegate.co.uk/adm-energ ... 00013469Q/
announces that its Annual General Meeting ("AGM") will be held at 10.00 a.m. on 20 July 2022 at the offices of Luther Pendragon, 48 Gracechurch Street, EC3V 0EJ.

Yesterday 14:00 Arrow Exploration (AXL)
Price Monitoring Extension
https://www.investegate.co.uk/arrow-exp ... 00473320Q/
https://uk.finance.yahoo.com/quote/AXL.L/chart
On the day it's jumped +9.6% with a spike to +20%. Over the last 2 weeks it's been in the usual range.

Hallucigenia
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Re: Hal's oily roundup

#510364

Postby Hallucigenia » June 28th, 2022, 6:17 pm

Hallucigenia wrote:Today 13:40 UK Oil & Gas PLC (UKOG)
Result of Annual General Meeting
https://www.investegate.co.uk/uk-oil--- ... 40055037Q/
all 5 resolutions put to shareholders were duly passed.


The RNS doesn't mention the protests at the AGM, which was held at the office of their lawyers Hill Dickinson, in the Broadgate Tower :
https://twitter.com/MiaHWatanabe/status ... 6094744581

Hallucigenia
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Re: Hal's oily roundup

#510584

Postby Hallucigenia » June 29th, 2022, 10:58 am

Hats off to Enwell for increasing production despite having to suspend wells for a while due to an actual war - and bumper results all round for them, as one might expect from a gas company in eastern Europe this year. Predator's results were far more mundane in comparison - stable and looking to farmout. SDX continue to drill development wells, Trinity start theirs, Serinus will start next month, Deltic have a rig for Pensacola.

Brent=$118.37(June)           WTI=$112.29(July,Brent-6.08)    Nymex gas=$6.74(July)   
NBP =180p(June,Nymex+15.18) TTF=€136.250(July,Nymex+35.27) JKM=$37.000(August,Nymex+30.26)

Today 10:30 Clontarf Energy PLC (CLON)
Posting of Annual Report
https://www.investegate.co.uk/clontarf- ... 30036245Q/
The directors of Clontarf Energy plc (AIM:CLON) announce that its Annual Report & Accounts for the financial year ended 31 December 2021 have been posted to shareholders. This document is available on the Company's website.

Today 09:54 Petrofac Limited (PFC)
Report on payments to governments
https://www.investegate.co.uk/petrofac- ... 5446EBTLV/
Malaysia and Thailand

Today 09:45 Challenger Energy (CEG)
Holding(s) in Company
https://www.investegate.co.uk/challenge ... 45266201Q/
On 27 June 2022, Choice Investments (Dubbo) Pty Ltd (Australia) increased from below threshold to 5.19%.

Today 09:44 Lamprell plc (LAM)
Holding(s) in Company
https://www.investegate.co.uk/lamprell- ... 44116199Q/
On 27-Jun-2022, Schroders Plc reduced from 15.654% to 14.794%.

Today 08:32 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 32026156Q/
On 24-Jun-2022, Bank of America Corporation increased from 20.762% to 20.861%.

Today 07:10 Capricorn Energy PLC (CNE)
Transaction in Own Shares
https://www.investegate.co.uk/capricorn ... 10045499Q/
They bought back 5,820 shares at 218.60p = £12,722.52

Today 07:00 Enwell Energy PLC (ENW)
2021 Audited Results
https://www.investegate.co.uk/enwell-en ... 00085533Q/
●Aggregate average daily production of 4,730 boepd (2020: 4,541 boepd), an increase of approximately 4.2%
●Revenue of $121.4 million (2020: $47.3 million), up 157% as a result of significantly higher gas prices and increased production rates
●Gross profit of $73.9 million (2020: $15.7 million), up 371%
●Operating profit of $66.2 million (2020: $9.8 million), up 576%
●Cash generated from operations of $77.6 million (2020: $23.8 million), up 226% as a result of significantly higher gas prices and increased production rates
●Net profit of $51.1 million (2020: $3.2 million), up 1,497%
●Cash, cash equivalents and short-term investments of $92.5 million as at 31 December 2021 (2020: $61.0 million), and of $76.5 million as at 24 June 2022
●Average realised gas, condensate and LPG prices in Ukraine were much higher, particularly gas prices, at $432/Mm3 (UAH11,677/Mm3), $69/bbl and $80/bbl respectively (2020: $136/Mm3 (UAH3,618/Mm3) gas, $46/bbl condensate and $46/bbl LPG)
●Reduction of capital completed through the cancellation of the Company's entire share premium account which has created distributable reserves, thereby enabling the possibility of the Company making distributions to shareholders in the future
The Russian invasion of Ukraine in February 2022 has had a significant impact on all aspects of life in Ukraine, including the Group's business and operations, with all field operations being suspended from 24 February to 15 March 2022, after which production operations and some field activities resumed at the MEX-GOL and SV fields, while all operations remain suspended at the VAS field and SC licence area. The scale and duration of disruption to the Group's business is currently unknown, and there remains significant uncertainty about the outcome of the conflict in Ukraine.
●The Russian invasion of Ukraine in February 2022 has had a significant impact on all aspects of life in Ukraine, including the Group's business and operations, with all field operations being suspended from 24 February to 15 March 2022, after which production operations and some field activities resumed at the MEX-GOL and SV fields, while all operations remain suspended at the VAS field and SC licence area. The scale and duration of disruption to the Group's business is currently unknown, and there remains significant uncertainty about the outcome of the conflict in Ukraine.
●The Group retains the majority (77% as at 24 June 2022) of its cash outside Ukraine,

Today 07:00 Predator O&G Hldgs (PRD)
Financial Statements Year ended 31 December 2021
https://www.investegate.co.uk/predator- ... 00055411Q/
· Increased cash balance at period end of 2021 £1,523,035 (2020: £1,325,751).
· Debt-free and fully-funded for current commitments
The next stage of the Company's development will be challenging as we seek to take our various projects to the next level of financing which is why we have taken the opportunity to refresh the Board with Non-executive Directors with the necessary experience to encourage and oversee this critical next step. Maintaining undiluted project equity has been a priority of the Company during the last 3 years ...we are now well placed to potentially trade our project equity for access to financial backing to take projects to development and cash flow

Today 07:00 SDX Energy PLC (SDX)
SPUD OF MSD-23 WELL & PRODUCTION FROM MSD-24 WELL
https://www.investegate.co.uk/sdx-energ ... 00095541Q/
pleased to announce the spudding of the MSD-23 infill development well on 24 June 2022 at the Meseda Field, West Gharib concession, Egypt (SDX WI: 50%). MSD-23 is targeting the primary Asl Formation reservoir at around 4,000 feet MD (3,200ft TVDSS). MSD-23 is the fifth well in a fully funded, 13-well development campaign on the Meseda and Rabul oil fields in the West Gharib concession.
The fourth well of the campaign, MSD-24 (TD, 5 June 2022), has been connected to facilities and is currently producing at a gross rate of around 300 bbl/d which is in line with pre-drill estimates

Today 07:00 Trinity Exploration (TRIN)
Drilling commenced on six well onshore campaign
https://www.investegate.co.uk/trinity-e ... 00065463Q/
drilling operations have commenced for the first well of its 2022 six well programme.
As previously outlined, the fully-funded drilling programme, which includes conventional infill wells, a horizontal well and a deeper appraisal well, is targeting an aggregate 450 - 1,100mbbls of reserves at a cost of US$14m - US$17m
...Noting the current orange-level tropical storm warning in Trinidad, management will move to ensure the health and safety of its workforce and contractors - and if necessary may opt to briefly pause drilling operations.

Today 07:00 Deltic Energy PLC (DELT)
Licence P2252 - Confirmation of Rig Contract
https://www.investegate.co.uk/deltic-en ... 00055408Q/
Shell UK Ltd ("Shell"), the Operator of Licence P2252, has confirmed that a rig contract has been signed for the drilling of the Pensacola exploration well...Drilling of Pensacola remains scheduled to commence in the second half of September with seabed operations for placing of the rig due to commence towards the end of July....Pensacola is a Zechstein Reef prospect located to the north west of the Breagh gas field in the Southern North Sea. Deltic estimates the prospect to contain gross P50 Prospective Resources of 309 BCF, with a 55% geological chance of success

Today 07:00 Serinus Energy PLC (SENX)
Romania Drilling Programme Update
https://www.investegate.co.uk/serinus-e ... 00085508Q/
is pleased to announce that the two-well exploration programme in Romania continues to progress towards commencement of drilling...the drilling of the Canar-1 well is expected to commence on schedule in mid-July, and once drilling is completed, the rig will move to the Moftinu Nord-1 location and commence drilling.

Today 07:00 Phoenix Global Res (PGR)
Additional Funding
https://www.investegate.co.uk/phoenix-g ... 00065425Q/
As disclosed in the Company's announcement of its 2021 final results on 27 May 2022 ("Announcement"), Mercuria stated its intention to provide financial support to the Company in order that the Company could continue to operate and service the Company's liabilities as they fall due in the period to 30 June 2023 and fund the planned work programs. Mercuria also specifically agreed to not demand repayment of the Mercuria loans (principal and interest) during this period. The Company and Mercuria are still seeking to restructure the existing facilities, but do not expect this to be completed until later in the year.
Mercuria has, therefore, agreed to further increase the bridging facility, which carries interest at US$ LIBOR plus 4% and is not convertible, by US$36.0 million to US$133.5 million.
[Mercuria being the 84% shareholder that has indicated it will be buying out the minority shareholders]

Today 07:00 Union Jack Oil PLC (UJO)
Capital Reduction Update
https://www.investegate.co.uk/union-jac ... 00055321Q/
following the passing of a special resolution of the Company at its Annual General Meeting on 23 June 2022, the Company is now pursuing a reduction of capital exercise through the court procedure...the Company will issue a further announcement outlining details of a share buy back scheme or the payment of a maiden dividend.

Today 07:00 Serica Energy PLC (SQZ)
TR-1: Notification of major holdings
https://www.investegate.co.uk/serica-en ... 00095488Q/
On 27/06/202 2, BlackRock, Inc. reduced from 5.04% to below 5%.

Today 07:00 TotalEnergies SE (TTE)
TotalEnergies SE: Disclosure of Transactions in Own Shares
https://www.investegate.co.uk/totalener ... 0000Z6201/
€266m

Yesterday 18:30 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 30035424Q/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Yesterday 18:01 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 01495412Q/
They bought back 10,000,000 shares at 396.613p = £39,661,270.00

Yesterday 17:31 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 31205363Q/
They bought back 8,500,000 shares at 401.529p = £34,129,987.00

Yesterday 16:57 Capricorn Energy PLC (CNE)
Total Voting Rights
https://www.investegate.co.uk/capricorn ... 57085286Q/
For the purposes of the provisions of the Disclosure and Transparency Rules, the total number of shares in the capital of the Company as at 28 June 2022 was as follows:

Yesterday 16:50 Gran Tierra Energy (GTE)
Report on Payments to Govts
https://www.investegate.co.uk/gran-tier ... 50565282Q/
All of the payments disclosed in accordance with the Directive have been made to National Governments of Colombia and Ecuador, either directly or through a Ministry or Department of the National Government and to Local Community Councils or municipalities in Colombia.

Yesterday 16:49 Shell plc (SHEL)
Transaction in Own Shares
https://www.investegate.co.uk/shell-plc ... 4943H1629/
They bought back 4,124,442 shares at £21.802 = £89,920,069

Yesterday 16:38 S.N.G.N. Romgaz S.A. (SNGR)
Addendum Loan Agreement art.234(i) Reg.5 from 2018
https://www.investegate.co.uk/s.n.g.n.- ... 38265249Q/
Raiffeisen Bank brings Banca Comercială Română into the loan to pay for Exxon Romania.

Yesterday 16:35 TotalEnergies SE (TTE)
Price Monitoring Extension
https://www.investegate.co.uk/totalener ... 35405243Q/
https://uk.finance.yahoo.com/quote/TTE.L/chart
On the day it's soared +20% with a spike to +20%. Over the last 2 weeks it's been in the usual range.

Hallucigenia
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Re: Hal's oily roundup

#510867

Postby Hallucigenia » June 30th, 2022, 12:35 pm

Enjoyable geology geeking from UKOG in Turkey, no mention of their protests in the UK though. Lansdowne and Providence both have a good bitch about the Irish government's reluctance to permit Barryroe, Providence are even renaming themselves Barryroe Offshore Energy. Ascent make their pitch as a lawsuit company, and are now turning to mine waste in Peru. Angus don't have much to say in their interims ahead of Saltfleetby coming onstream next week.
Ashtead and Hunting are both making pots of cash as service companies. Orcadian get a £1m placing away at 10% discount, and note that the investment allowance under the new windfall tax "has transformed the attractiveness of domestic oil and gas projects". VOG still can't get sign-off on their accounts, SDX introduce a cash option for their takeover, Tower get a loan to pay for a big chunk of their Cameroon well, Sirocco shareholders reluctantly (63:37) approve the Ruvuma sale to Wentworth - must have been a fun meeting.
As ever AGM locations provide an insight into the people running a company - President are having theirs at their club in Pall Mall.
The new month's gas prices are nuts - TTF is up a couple of euros whilst I've been writing this.

Brent=$115.63(June)              WTI=$109.07(July,Brent-6.56)   Nymex gas=$6.42(July)   
NBP =260.54p(July,Nymex+25.09) TTF=€149.000(August,Nymex+38.95) JKM=$37.160(August,Nymex+30.74)

Today 11:22 Nostra Terra O&G Co (NTOG)
Result of AGM
https://www.investegate.co.uk/nostra-te ... 22538406Q/
at the Annual General Meeting held earlier today all resolutions were passed.

Today 10:14 Jadestone Energy PLC (JSE)
Results of AGM
https://www.investegate.co.uk/jadestone ... 14068186Q/
at the Annual General Meeting ("AGM") of the Company held on 30 June 2022 all of the resolutions set out in the Company's Notice of AGM dated 6 June 2022 were duly passed on a poll with the results as stated below.

Today 09:51 Orcadian Energy PLC (ORCA)
Result of Placing
https://www.investegate.co.uk/orcadian- ... 51088098Q/
it has successfully completed and closed the Placing. The Placing has raised, in aggregate, gross proceeds of £ 1m through the placing of 2,857,143 Ordinary Shares (the "Placing Shares") to certain institutional and other investors at a price of 35 pence per share....
Pilot is one of the top five development projects on the UKCS, with 79MMbbls of 2P reserves. We believe the immediate investment allowance, included in the Energy Profits Levy, has transformed the attractiveness of domestic oil and gas projects for companies extracting oil and gas in the UK and it should spark further investment in the North Sea.

Today 09:45 Ascent Resources PLC (AST)
Final Results
https://www.investegate.co.uk/ascent-re ... 45098088Q/
Following the completion of the "no win-no fee" style funding agreement for our international arbitration proceedings against the Republic of Slovenia, the Company is now positioned with upside exposure from a monetary damages claim significantly in excess of €100 million. These arbitration proceedings alone, we believe, already make Ascent Resources plc a unique and compelling proposition for shareholders.
The Company is also pursuing an industrial growth strategy across both onshore gas and ESG Metals where it has, for some time now, been preparing for its maiden transaction with a near term focus on Peru. Underpinning its growth strategy is its gas production at the Petisovci project in Slovenia, which continues and is of course buoyed by the strong European gas market backdrop...
ESG Metals includes secondary mining and recovery opportunities typically involving the reclassification, through highly efficient recovery techniques, of stockpiled surface mining waste...
the Company believes that there are good opportunities in gold, silver, platinum, base metals and ferrochrome

Today 09:35 Capricorn Energy PLC (CNE)
Total Voting Rights
https://www.investegate.co.uk/capricorn ... 35047490Q/
the total number of shares in the capital of the Company as at 30 June 2022 was as follows:

Today 09:27 Trinity Exploration (TRIN)
Director/PDMR Shareholding
https://www.investegate.co.uk/trinity-e ... 27318076Q/
Nicholas Clayton , Non-Executive Chairman, purchased 20,000 shares in the Company at a price of GBP1.0240 per share. Following this transaction, Mr Clayton is interested in 30,000 Ordinary shares in the Company representing 0.077 per cent

Today 09:02 Serica Energy PLC (SQZ)
Total Voting Rights
https://www.investegate.co.uk/serica-en ... 02457954Q/
As required under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, the Company provides the following information relating to voting rights as at 30 June 2022:

Today 08:53 Caspian Sunrise plc (CASP)
Oraziman family holdings
https://www.investegate.co.uk/caspian-s ... 53547945Q/
The Company has been notified of the following changes to the holdings in the Company of the Oraziman family, which continues to hold 1,089,544,792 shares representing 48.41% of the Company's shares. [but have shuffled them around - been a death?]

Today 08:26 Diversified Energy (DEC)
Total Voting Rights
https://www.investegate.co.uk/diversifi ... 26097922Q/
the total number of ordinary shares of 1p each in the capital of the Company in issue as at the date of this announcement is 850,737,603 with each ordinary share carrying the right to one vote. There are no ordinary shares held in treasury and therefore the total number of voting rights in the Company is 850,737,603.

Today 08:17 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 17277911Q/
On 27-Jun-2022, Bank of America Corporation reduced from 20.861% to 20.768%.

Today 07:45 Providence Resources (PVR)
Holding(s) in Company
https://www.investegate.co.uk/providenc ... 45017851Q/
Vevan Unlimited Company, now holds 172,905,735 ordinary shares of €0.001 each in the capital of the Company representing 16.13% of the issued ordinary share capital.

Today 07:33 OMV Petrom S.A. (PETB)
OMV Petrom launches Sustainability Report for 2021
https://www.investegate.co.uk/omv-petro ... 33597852Q/
in a ranking made by Sustainalytics, an independent ESG research, rating and analysis agency, OMV Petrom was placed among the top 3% producers of the oil and gas sector in the ESG Risk Ratings...Sustainability is an integral part of OMV Petrom's Strategy 2030. It aims to transform the company to contribute to the decarbonization goals, while ensuring uninterrupted energy supply. For the implementation of the strategy, the company will invest approximately 11 billion euro by 2030, out of which 3.7 billion euro will be invested in low and zero carbon energy.
The 2030 strategy also paves the way for carbon neutrality from operations by 2050. The company aims to reduce the carbon emissions from its own operations by 30% by 2030, compared to 2019. Through sustained investments in recent years , the carbon intensity of the company operations decreased by 11% in 2021 compared to 2019.

Today 07:05 Capricorn Energy PLC (CNE)
Transaction in Own Shares
https://www.investegate.co.uk/capricorn ... 05047482Q/
They bought back 9,005 shares at 218.67p = £19,691.23

Today 07:05 UK Oil & Gas PLC (UKOG)
Interim Results
https://www.investegate.co.uk/uk-oil--- ... 05037248Q/
This interim period was dominated by behind-the-scenes activity aimed toward securing the Company's recently announced project at Portland Port in Dorset, which represents a significant source of possible future value for the Company. As announced post period in late May 2022, the Company's wholly owned subsidiary, UK Energy Storage Ltd ("UKEn"), has signed an Agreement to Lease with Portland Port Limited covering two sites at the former Royal Navy port, with the intent to develop a planned integrated energy hub, centred around hydrogen-ready gas storage and a future green hydrogen generation capability. This project is subject to new planning consent and securing necessary development finance
The operating loss for the six months to 31 March 2022 was £1.29 million compared to £1.01 million for the same period last year. Revenue for the six months saw an increase from £0.72 million to £0.91 million, which was a result of production of Horse Hill field and increased Brent crude prices.
Net cash outflow from operations increased from £0.96 million to £1.39 million; this increase was driven by working capital movements and lower administrative costs in the comparative period, which reflected the impact of interim salary cuts effective during that time.
[£2m in the bank so will need a lot more soon, some interesting geological geeking about their Turkish project, they've decided to do a bit more seismic just to clarify the relationship of their drilling site to a fault.]

Today 07:00 UK Oil & Gas PLC (UKOG)
Turkey operational update
https://www.investegate.co.uk/uk-oil--- ... 00117334Q/
it has been advised by Aladdin Middle East ("AME"), the operator of the Company's 50% interest in the Resan Licence, that their field crew has discovered a live, light, 41.7˚API oil seep in an unused seismic drill-hole (drilled during this year's seismic programme), approximately 4 km north of the recent Basur-3 ("B-3") location....
The oil was discovered when inspecting unused drilled seismic dynamite shot holes for potential future use. Oil was initially recovered on successive days from a sandstone layer at approximately 4m from surface using a bailer on a cable. Two new drill holes located 8m to the east and west were completed several days later and also recovered light oil to surface from the same depth. Videos of the oil recovery will be placed on the Company's website.

Today 07:00 Angus Energy PLC (ANGS)
Interim Accounts
https://www.investegate.co.uk/angus-ene ... 00067167Q/
With the leak testing complete, [Saltfleetby] commissioning is expected to take between one and two weeks with a target date for first gas export (ie sales) between the 7th and 12th July....
The Group recorded a loss of £31.750m for the period, which included an unrealized loss of £30.459m in relation to the derivative instrument, resulting in an adjusted loss of £1.291m (2020: £1.479m)....
As at 31 March 2022 the Group had cash of £1,441,340.
With the Saltfleetby project shortly to be flowing gas, we look forward to steady production before the drilling on the SF7 Sidetrack. As we continue to work hard to achieve this, we remain focused on delivering value from all the assets in our portfolio, which includes our Geothermal project. Together with our funding partners we are well placed to take the Company forward and achieve our objectives.

Today 07:00 Providence Resources (PVR)
Annual Results for the year ended 31 December 2021
https://www.investegate.co.uk/providenc ... 00046924Q/
· Operating loss for the period of €2.369 million versus €2.440 million in 2020,
· Profit for the year €3.442 million versus loss of €10.358 million in 2020. The profit figure for the year was impacted by the fair value gain in warrants of €5.643m (2020: €7.581m loss),
· Basic profit per share of 0.36 cents versus loss of 1.31 cents in 2020,
· Diluted profit per share of 0.30 cents versus loss of 0.91 in 2020,
The granting of the Barryroe Lease Undertaking by Minister Eamon Ryan is fundamental to the execution of the Board's strategy. Securing the Lease Undertaking has been, and continues to be, the Board's main focus....In September 2019, the Irish Government affirmed that all existing licences, which included Barryroe, would be allowed to run their full term. It should be firmly understood that Barryroe is a discovered oil and gas field, not a wildcat prospect, in relatively shallow waters not far off the coast of Cork. It requires an appraisal well to be drilled to confirm the reservoir and hydrocarbon characteristics before a phased development can be initiated. That well can be progressed only once the Lease Undertaking is issued....Current Government policy does not restrict Ireland's use of hydrocarbon fuels; it merely precludes new searches for more of them in our own waters....
The Company is proposing to change its name to Barryroe Offshore Energy,
· At 31 December 2021, total cash and cash equivalents were €1.923 million versus €2.110 million in 2020,

Today 07:00 Lansdowne Oil & Gas (LOGP)
Annual Results and Notice of AGM
https://www.investegate.co.uk/lansdowne ... 00067168Q/
the Annual General Meeting ("AGM") to be held at 12.00 noon on 14 September 2021 at the offices of Pinsent Masons LLP, 30 Crown Place, Earl Street, London EC2A 4ES....
The RPS CPR concluded that the Phase 1 development, in the P50 Case, has the potential to recover 81.2 million barrels of oil (16.24 million barrels net to Lansdowne) from a Best Estimate of 278 million barrels of oil in place (STOIIP).
An economic evaluation, documented in the RPS CPR, for the Phase 1 development in the 2C oil resources case, delivers an NPV10% for Lansdowne's 20% share of US$104 million under a Brent Oil Price assumption of US$68 per barrel in 2027, rising to $70/bbl in 2028 and 2029 and inflated at 2% per annum thereafter. This equates to a NPV10% of $6.40/bbl...Further work will be conducted on the gas volumes present in the overlying C Sands as this gas, combined with the already identified oil volumes offers a significant addition to Ireland's energy security. It is Lansdowne's belief that the development of Barryroe has taken on a critical energy security role for Ireland and we look forward to expediting the development of this asset...nothing can move forward without the granting of Lease Undertaking over Barryroe, the application for which was submitted in April 2021. This continues to remain under consideration by DECC....
· Cash balances at 31 December 2021 of £0.20 million (2020: £0.6 million).
· Operating expenses for the year were £0.1 million (2020: £0.3 million).
· Loss for the year after tax of £0.1 million (2020: loss £0.4 million).
· The LC Capital Master Fund loan, due for repayment on 31 December 2021, was extended to 31 December 2022.
[Looks like a massive placing once they get their government approval, in the meantime a lot of blarney]

Today 07:00 Ashtead Tech Hldgs (AT.)
Trading Update
https://www.investegate.co.uk/ashtead-t ... 00057085Q/
The Group has made an excellent start to the year as the industry benefits from an increased focus on energy transition and energy security which continues to drive utilisation and pricing. Revenues for the seasonally weaker H1 2022 are expected to be no less than £31m, representing growth of at least 25% on H1 2021, which was still impacted by the Covid pandemic. The EBITA margin for the period is expected to be higher than prior year and in line with the Board's expectations.

Today 07:00 Hunting PLC (HTG)
H1 2022 Trading Update
https://www.investegate.co.uk/hunting-p ... 00057109Q/
· H1 2022 trading has been in line with management expectations, with H2 performance continuing to indicate a further strengthening in revenue run-rate and a return to bottom-line profitability for the full-year. Q3/Q4 2022 EBITDA run-rate likely to increase c.20% from the Q2 result.
· Gross margins across most operating segments increasing as activity levels improve.
· Sales order books reporting strong increases throughout the period. Group position as at 31 May 2022 c.$313m compared to c.$215m as at 31 December 2021.
· Balance sheet remains strong with total cash and bank of c.$76m as at 17 June 2022, with working capital increasing to align with forward revenue profile. Total liquidity, including cash and availability under the Asset Based Lending facility, now totalling $196m.
Clients continue to steadily increase drill spend, supported by the strong commodity price environment, indicating a further improvement in trading momentum in H2 2022, despite the macro-economic and supply chain constraints seen for certain components....
Group EBITDA in H1 2022 is expected to be in the range of $16m-$18m,

Today 07:00 Orcadian Energy PLC (ORCA)
Proposed Placing to raise approximately £1m
https://www.investegate.co.uk/orcadian- ... 00097291Q/
is pleased to announce its intention to raise gross proceeds of approximately £1 million by means of a placing (the "Placing") of new Ordinary Shares (the "Placing Shares") to certain institutional and other investors at a price of 35 pence per share (the "Placing Price").
The Placing Price represents a discount of approximately 10.3 per cent. to the Closing Price of 39 pence per Ordinary Share on 29 June 2022

Today 07:00 Victoria Oil & Gas (VOG)
Annual Report and Accounts & Trading Update
https://www.investegate.co.uk/victoria- ... 00087263Q/
its Annual Report and Accounts to 31 December 2021 will not be published in advance of the Annual General Meeting ("AGM") being held today at 11.00 a.m. given the financial uncertainty that the Company is in as a result of the Partial Final Award to RSM Production Corporation ("RSM") by the ICC, as announced on 4 April 2022. This resulted in the temporary suspension of the Company's shares. The Company continues its discussions with RSM with a view to agreeing a post award settlement that would enable resolution of the financial uncertainty facing the Company, the audit to be finalised, the Annual Report posted to shareholders and the suspension of shares to be lifted....
Unaudited attributable revenue for calendar year 2021 was US$14.5 million (2020: U$13.2 million) representing an increase of 10% year on year. Unaudited revenue to 31 May 2022 was US$6.3million (2021 for the same period: US$6.2 million).

Today 07:00 SDX Energy PLC (SDX)
RECOMMENDED ALL-SHARE COMBINATION WITH CASH ALTER.
https://www.investegate.co.uk/sdx-energ ... 00117324Q/
On 25 May 2022, the boards of directors of Tenaz and SDX announced (the "Announcement") that they had reached agreement on the terms of a recommended share-for-share combination between Tenaz and SDX (the "Combination" to form the "Combined Group") whereby each Scheme Shareholder will be entitled to receive 0.075 New Tenaz Shares for each 1 SDX Share ....
Tenaz is today pleased to announce the introduction of a Cash Alternative that is to be made available under the terms of the Combination... 11 pence in cash for each SDX Share

Today 07:00 Diversified Energy (DEC)
Notification of Major Holdings
https://www.investegate.co.uk/diversifi ... 00126902Q/
On 28-Jun-2022, BlackRock, Inc. kept their total holding at 5.17% whilst fiddling with their shares vs other formats. [Securities Lending]

Today 07:00 Vaalco Energy Inc (EGY)
PDMR Share Dealing
https://www.investegate.co.uk/vaalco-en ... 00127228Q/
on 27 June 2022, restricted shares in the Company ("Common Shares") vested for certain persons discharging managerial responsibility in the Company

Today 07:00 Gulf Keystone Petrol (GKP)
Appointment of Non-Executive Director
https://www.investegate.co.uk/gulf-keys ... 00127113Q/
is pleased to announce the appointment of Wanda Mwaura as an independent NonExecutive Director with effect from 1 July 2022. Mrs Mwaura has over 25 years experience in the financial services sector with extensive experience in both executive and non-executive roles, including Audit Committee membership. Wanda is a qualified accountant and was previously a partner in Ernst & Young (Bermuda) and the Chief Accounting Officer at PartnerRe. She is now a non-executive director of International General Insurance Company Limited and a number of private companies including Clarien Bank Limited as well as Executive Director for the Bermuda Public Accountability Board.

Today 07:00 President Energy PLC (PPC)
Posting of Annual Report and Notice of AGM
https://www.investegate.co.uk/president ... 00127429Q/
Annual General Meeting ("AGM") to be held on Friday 22 July 2022 at 11 a.m. BST at The Army and Navy Club, 36-39 Pall Mall, London, SW1Y 5JN.
[Clearly The Right Sort Of Chaps if they're holding the AGM at their club]

Today 07:00 Hurricane Energy PLC (HUR)
Result of Voting at AGM
https://www.investegate.co.uk/hurricane ... 00077209Q/
The presentation made at the meeting is available at the website on http://www.hurricaneenergy.com . Each of the resolutions contained in the Notice of Meeting were put to the AGM, voted on by way of a poll, and duly approved.

Today 07:00 Indus Gas Limited (INDI)
Completion of Nominated Adviser due diligence
https://www.investegate.co.uk/indus-gas ... 00126219Q/
further to the appointment of Strand Hanson Limited ("Strand Hanson") as its Nominated Adviser on 27 April 2022, Strand Hanson has confirmed that it has completed its due diligence.

Today 07:00 Echo Energy PLC (ECHO)
Change of Adviser
https://www.investegate.co.uk/echo-ener ... 00127262Q/
the appointment of Arden Partners plc as the Company's sole broker with immediate effect.

Yesterday 18:08 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 08517152Q/
They bought back 7,500,000 shares at 402.481p = £30,186,065.50

Yesterday 18:02 Tower Resources PLC (TRP)
Cameroon Financing and Resource Update
https://www.investegate.co.uk/tower-res ... 02527147Q/
its subsidiary, Tower Resources Cameroon SA ("TRCSA"), has executed a term sheet with BGFI Bank Group ("BGFI"), the largest bank group in Central Africa, for a medium term loan of CAF 4.42 billion (equivalent to approximately US $7.1 million at the current exchange rate of 620 Central African Francs ("CAF") to the US dollar) as partial financing of the NJOM-3 well on the Thali block in Cameroon...The Loan should cover around 40% of the roughly US$18 million cost of the well, with a further amount in excess of 25% already having been paid for by TRCSA, and the balance of 35% of the cost of the well also to be funded by TRCSA...Interest on the Loan is to be 8% per annum, with a moratorium on interest payments during the first year...
The Company has prepared updated resource estimates for the reservoirs connected to the NJOM-1 discovery well, which are set out in detail in the linked presentation at page 8. These estimates are a little higher than the estimates contained in the OIL Reserve Report (24.9 million barrels pMean recoverable compared with 17.9 million barrels per OIL)...
The Company has also updated its estimate of the NPV10 of the base volumes in the 24.9 million barrel pMean recoverable case, to $305 million...
"We are as excited as ever about the Thali PSC, as I plan to explain at the upcoming Proactive Investors conference in London this evening, 29 June 2022."

Yesterday 18:00 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 00047090Q/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Yesterday 17:00 Harbour Energy PLC (HBR)
Report on Payments to Govts
https://www.investegate.co.uk/harbour-e ... 00066956Q/
Harbour today provides information in accordance with DTR 4.3A in respect of payments made by the Company to governments for the year ended 31 December 2021

Yesterday 16:50 Shell plc (SHEL)
Voting Rights and Capital
https://www.investegate.co.uk/shell-plc ... 5034H1861/
Shell plc's capital as at June 28, 2022, consists of 7,363,284,479 ordinary shares of €0.07 each. Shell plc holds no shares in Treasury.

Yesterday 16:48 Shell plc (SHEL)
Transaction in Own Shares
https://www.investegate.co.uk/shell-plc ... 4836H1860/
They bought back 1,817,450 shares at £21.905 = £39,810,718

Yesterday 16:36 TotalEnergies SE (TTE)
Price Monitoring Extension
https://www.investegate.co.uk/totalener ... 36186992Q/
https://uk.finance.yahoo.com/quote/TTE.L/chart
On the day it's ended in the usual range but at one point spiked down to -14.1%. Over the last 2 weeks it's been in the usual range.

Yesterday 16:31 Reabold Resources (RBD)
Results of Annual General Meeting
https://www.investegate.co.uk/reabold-r ... 31106970Q/
at the Annual General Meeting of the Company held earlier today, all resolutions proposed were duly passed.

Yesterday 14:58 WOOD GROUP (JOHN) PLC (WG.)
Director/PDMR Shareholding
https://www.investegate.co.uk/wood-grou ... 5800PA94C/
SHARE PURCHASE IN LIEU OF NON-EXECUTIVE DIRECTOR FEES IN ACCORDANCE WITH A TRADING PLAN

Yesterday 14:48 Diversified Energy (DEC)
Standard form for notification of major holdings
https://www.investegate.co.uk/diversifi ... 48256848Q/
On 27-Jun-2022, BlackRock, Inc. reduced from 5.18% to 5.17%.

Yesterday 14:38 Wentworth Resources (WEN)
Update on Proposed Acquisition
https://www.investegate.co.uk/wentworth ... 38016831Q/
Wentworth notes the announcement from Scirocco that the proposed Transaction received the requisite majority approval from shareholders at Scirocco's General Meeting, held today. The Transaction remains subject to certain regulatory approvals plus the non-exercise or waiving of pre-emption rights by the other Ruvuma Asset JOA partners.

Yesterday 14:24 Scirocco Energy PLC (SCIR)
Result of General Meeting
https://www.investegate.co.uk/scirocco- ... 24496811Q/
the Company received the requisite majority approval from shareholders at the General Meeting held today in respect of the proposed divestment of its interest in the Ruvuma Asset to Wentworth Resources. As a result, the two parties will seek to obtain the requisite final government and partner approvals to complete the transaction
63.44%:36.56% - quite a rebellion.

Yesterday 13:30 Tullow Oil PLC (TLW)
Rule 2.9 Announcement
https://www.investegate.co.uk/tullow-oi ... 30036620Q/
the total number of shares with voting rights in the Company at the above date was 1,438,299,661.

Yesterday 13:15 S.N.G.N. Romgaz S.A. (SNGR)
Affiliated Party Transactions art.108 Law 24/2017
https://www.investegate.co.uk/s.n.g.n.- ... 15396658Q/
Petrom sales

Yesterday 12:35 Trinity Exploration (TRIN)
Result of AGM
https://www.investegate.co.uk/trinity-e ... 35506601Q/
resolutions put to Shareholders at the Annual General Meeting (AGM) of the Company held earlier today were duly passed.

Yesterday 12:17 Lamprell plc (LAM)
Rule 8.3 - Lamprell plc
https://www.investegate.co.uk/lamprell- ... 17316543Q/
Sami Said Al Angari 6.59%

Yesterday 11:24 Capricorn Energy PLC (CNE)
Report on Payments to Govts
https://www.investegate.co.uk/capricorn ... 24356376Q/
Capricorn has prepared the following report in respect of payments made to governments during the year ended 31 December 2021.

Yesterday 11:00 Deltic Energy PLC (DELT)
Price Monitoring Extension
https://www.investegate.co.uk/deltic-en ... 00416315Q/
https://uk.finance.yahoo.com/quote/DELT.L/chart
On the day it's soared +22.3% with a spike to +24%. Over the last 2 weeks it's up +14%. [got their rig]

Hallucigenia
Lemon Quarter
Posts: 2570
Joined: November 5th, 2016, 3:03 am
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Re: Hal's oily roundup

#511145

Postby Hallucigenia » July 1st, 2022, 12:35 pm

Wow - 4 suspensions today as we pass the deadline for publishing 31 Dec year-end accounts - Lamprell is obviously the most serious (and comes with a preliminary bid approach from Sami Said Al Angari), Argos we knew about last week and should be ASAP following a director loan, Pennpetro say they need another 7 days, DG Innovate are talking about the end of the month due to "a delay in the audit process" which doesn't sound good for a newly-listed company, particularly on the day a new CEO takes over and previously-announced director changes are reversed.
I enjoyed Block's accounts - they're still in the early stages of sorting out their assets in Georgia but did a good job of explaining what's going on. Sirocco don't have much to say about themselves as they're in transition from hydrocarbons to renewables, but have a lot of detail about their old assets that may be of interest to Aminex/Wentworth/Helium One holders.
Lifeboat use an excuse to highlight the fact that Oswig will spud this month and Copernicus by September. Lots of AGMs yesterday and some fun ones - Gulf Marine had big rebellions and managed to lose the resolution on alloting new shares, Serica appear to have had a quarter of shareholders vote against receiving the accounts which obviously indicates trouble at t'mill although I don't know the back story.
But if you read one of these RNS's, read the Lekoil results which is the most fantastically bonkers thing I've seen in a long time, detailing the full story of how their subsidiary in Nigeria went rogue and are refusing to pay $133m of intercompany loans from the holding company.
Teeling leaving Clontarf can be seen as a good or bad thing, depending on your POV...

Brent=$111.62(July)              WTI=$108.14(July,Brent-3.48)      Nymex gas=$5.72(July)   
NBP =249.99p(July,Nymex+24.42) TTF=€146.720(August,Nymex+39.24) JKM=$38.660(August,Nymex+32.94)

Today 12:12 Egdon Resources PLC (EDR)
Significant Shareholders,Takeover Panel Waiver,TR1
https://www.investegate.co.uk/egdon-res ... 12110447R/
Egdon Resources plc (AIM:EDR) was notified on30 June 2022 that as a result of transactions which took place on 24 June 2022, the shareholdings held by Petrichor Holdings Cooperatief U.A.("Petrichor") and other members of the Concert Party have now been transferred to Petrichor Partners LP ("PPL") as the registered holder of the 237,924,452 Ordinary Shares in Egdon representing 46.04 per cent of the issued ordinary share capital in Egdon.

Today 12:06 Nostrum Oil & Gas (NOG)
Update on Proposed Restructuring
https://www.investegate.co.uk/nostrum-o ... 06440438R/
today provides further update regarding the proposed restructuring (the "Restructuring") of the Group's US$725 million 8.0% Senior Notes due July 2022 and US$400 million 7.0% Senior Notes due February 2025...the Company received the required MOE Consent, which is the key regulatory consent required in the Republic of Kazakhstan for completion of the Restructuring

Today 11:30 DG Innovate PLC (DGI)
Board Changes
https://www.investegate.co.uk/dg-innova ... 30040292R/
As announced on 16 May 2022, Peter Tierney has joined the Company today as its new Chief Executive Officer....
Upon Peter Tierney's appointment, it was previously proposed that Christopher Theis, the Company's former Chief Executive Officer, would assume the role of Chairman. However, Mr Theis has decided not to take up this position but remains a director of the Company....Nicholas Tulloch, Non-Executive Chairman, will no longer be leaving the Company, as proposed in the announcement on 16 May 2022, and will remain as the Company's Non-Executive Chairman.

Today 11:04 Clontarf Energy PLC (CLON)
Director Change
https://www.investegate.co.uk/clontarf- ... 04480231R/
The board of Clontarf (AIM:CLON) have been informed by John Teeling of his intention to stand down as a director as of July 1st and this has been accepted.

Today 10:52 'Surgutneftegas' PJSC (SGGD)
Information statement on income accrued on the issuer’s equity securities
https://www.investegate.co.uk/--39-surg ... 5250ETVMG/
Dividend record dates etc

Today 10:46 'Surgutneftegas' PJSC (SGGD)
Information statement on the date as of which the persons entitled to exercise the rights vested in the issuer’s equity securities are determined
https://www.investegate.co.uk/--39-surg ... 4653EHMDA/
Identifying attributes of the issuer’s securities as per the resolution on the issue of such securities, in relation to which the date is set as of which the persons entitled to exercise the rights vested in such securities are determined

Today 10:40 'Surgutneftegas' PJSC (SGGD)
Information statement on holding the general shareholders’ meeting of the issuer and on resolutions adopted by the general shareholders’ meeting of the issuer
https://www.investegate.co.uk/--39-surg ... 4055EUAPO/
Date of the general shareholders’ meeting of the issuer: 30 June 2022.
Venue of the general shareholders’ meeting of the issuer: Russian Federation, Tyumenskaya Oblast, Khanty-Mansiysky Autonomous Okrug – Yugra, Surgut, ul.Grigoriya Kukuyevitskogo, 1, building 1.

Today 10:35 Harbour Energy PLC (HBR)
Block listing Interim Review
https://www.investegate.co.uk/harbour-e ... 35059974Q/
Harbour Energy plc Savings Related Share Option Scheme 2009 and some warrants

Today 10:30 Harbour Energy PLC (HBR)
Total Voting Rights
https://www.investegate.co.uk/harbour-e ... 30049964Q/
As at 30 June 2022, the Company's issued share capital consisted of 916,278,812 Ordinary Shares of 0.002 pence with voting rights. Harbour does not hold any shares in Treasury.

Today 09:04 Phoenix Global Res (PGR)
Result of AGM
https://www.investegate.co.uk/phoenix-g ... 04259938Q/
all resolutions put to shareholders at yesterday's Annual General Meeting ("AGM") of the Company were duly passed.

Today 07:40 Lamprell plc (LAM)
Temporary Suspension
https://www.investegate.co.uk/lamprell- ... 40129851Q/
Further to the announcement on 24 June 2022, the Company has concluded that the additional time that it needed to finalise its audited financial statements for the year ended 31 December 2021 ("FY21 Results") means that it was not be possible for the Company to publish the FY21 Results by 30 June 2022. ... following consultation with the FCA, the Company requested that the listing of the Company's ordinary shares of 5 pence each ("Ordinary Shares") be temporarily suspended. Temporary suspension took effect from 7.30 a.m. on 1 July 2022. The Company intends to request a restoration of the listing of its Ordinary Shares on publication of the FY21 Results. The Group continues to work closely with its auditors to ensure that the FY21 Results are published as soon as possible. This is expected to be before the end of Q3 2022.

Today 07:30 Official List ()
Temporary Suspension-Lamprell plc
https://www.investegate.co.uk/official- ... 30028960Q/
The Financial Conduct Authority ("the FCA") temporarily suspends the securities set out below from the Official List effective from 01/07/2022 07:30 at the request of the company:

Today 07:30 AIM ()
Suspension - Argos Resources Limited
https://www.investegate.co.uk/aim/rns/s ... 30038629Q/
Trading on AIM for the under-mentioned securities has been temporarily suspended from 01/07/2022 7:30am, pending publication of the company's annual audited accounts.

Today 07:30 Official List ()
Temporary Suspension-DG Innovate PLC
https://www.investegate.co.uk/official- ... 30039048Q/
The Financial Conduct Authority ("the FCA") temporarily suspends the securities set out below from the Official List effective from 01/07/2022 07:30 at the request of the company

Today 07:30 Official List ()
Temporary Suspension-Pennpetro Energy Plc
https://www.investegate.co.uk/official- ... 30029024Q/
The Financial Conduct Authority ("the FCA") temporarily suspends the securities set out below from the Official List effective from 01/07/2022 07:30 at the request of the company

Today 07:26 Capricorn Energy PLC (CNE)
Transaction in Own Shares
https://www.investegate.co.uk/capricorn ... 26079844Q/
They bought back 17,690 shares at 217.34p = £38,447.45

Today 07:20 ROSNEFT OIL COMPANY (ROSN)
Rosneft Holds Annual General Meeting of Shareholders
https://www.investegate.co.uk/rosneft-o ... 2057EMGYI/
The Meeting approved the Annual Report and Financial Statements of Rosneft for 2021. The Company's shareholders also made a decision to approve the recommendations of Rosneft's Board of Directors for the record high dividends.
The total 2021 dividend per share including dividends for 1H 2021 is 41 rubles 66 kopecs and the total dividends distribution amounts to RUB 441.5 bln, which is 50% of the Rosneft`s IFRS net income (attributable to shareholders).
During the meeting the shareholders also elected the new Rosneft`s Board of Directors

Today 07:00 Pennpetro Energy PLC (PPP)
Delay in publication of Annual Report and Accounts
https://www.investegate.co.uk/pennpetro ... 00079144Q/
notifies about a delay in publication of its Annual Report for the year ended 31 December 2021 ("FY21 Results"). The delay reflects the need for the Company and its Auditors to finalise reporting requirements. It is expected that this will be concluded by no later than 8 July 2022.

Today 07:00 Sami Said Al Angari ()
Response to speculation on Lamprell PLC
https://www.investegate.co.uk/sami-said ... 00079195Q/
In response to recent rumour and speculation, Sami Al Angari, who is the beneficial owner of c.19.19% of the issued share capital of Lamprell, confirms that he and Al Gihaz Holding Company, of which he is the CEO, are in the very early stages of evaluating a possible transaction that may involve an offer to acquire the issued and to be issued share capital of Lamprell, alongside a financing package to support the repayment of Lamprell's existing debt facilities and other working capital requirements.
As of today, no approach or discussions have taken place with the Board of Lamprell regarding a potential offer for the Company. A further announcement will be made as and when appropriate.

Today 07:00 Block Energy PLC (BLOE)
Audited Results
https://www.investegate.co.uk/block-ene ... 00089232Q/
· Successfully integrated the SRCL assets acquired from Schlumberger and defined an asset wide field development and production enhancement plan
· Commenced gas sales in February 2021, following completion of the Early Production Facility and associated gas gathering line
The planned three project strategy is designed to efficiently deploy existing cash reserves into further development drilling, throughout the XIF and XIB licenses....
The Company is now benefitting from the various initiatives undertaken during 2021 to support production growth and a broader oil development and gas appraisal programme. The Company has built an excellent portfolio of assets and the exercise of strict capital discipline, combined with the benefits from higher oil and gas prices, places us in a great position to develop them further in the year ahead. Supported by our cash flow positive business and non-dilutive development financing options being explored, we plan to step up the rate of drilling in 2022 and 2023, to increase oil production and appraise the deeper gas play within our licences, which we believe contains substantial gas resources. The robust domestic and regional demand for gas, and the unrestricted direct access to European markets support the development of as much gas as possible....
In November 2020, Block Energy Plc acquired 100% of the shares of Block Rustaveli Limited (formerly Schlumberger Rustaveli Company Limited), which holds the PSCs to Blocks IX and XIB in Georgia, for $6.8 million...The current year revenue from sales of crude oil of $5,518,000 (2020: $1,255,000) comprised the sale of 86,700 barrels (2020: 34,421barrels) of oil, which equated to average revenue of $63.65 (2020: $36.45) per barrel....
The Group commenced gas sales on 15 February 2021 and, during the period from 15 February 2021 to 31 December 2021, it sold 191.5 Mcf of gas for net revenue of $596,000, which equates to an average gas price of $3.11 per Mcf (2020: sold nil Mcf).
The loss for the year was $4,783,000 as compared with a $5,512,000 loss in the prior year. During the year, the Group had not yet achieved sufficient scale for the revenue to cover the Group's costs....
During Q1 2022, the Company produced 32.1 Mbbls of oil and 14.0 Mboe of gas, resulting in a combined total of 46.1 Mboe of oil and gas (Q1 2021: produced 29.8 Mbbls of oil and 14.6 Mboe of gas, resulting in a combined total of 44.4 Mboe of oil and gas). The average production rate for Q1 2022 was 512 boepd (Q1 2021: 493 boepd).

Today 07:00 Longboat Energy PLC (LBE)
Completion of Farm-in Agreement
https://www.investegate.co.uk/longboat- ... 00089227Q/
is pleased to announce that the farm-in agreement with OMV (Norge) AS ("OMV"), announced on 9 May 2022, has now completed. Through the agreement, Longboat farmed-in to two near-term, gas weighted exploration prospects on the Norwegian Continental Shelf ("NCS") targeting combined gross unrisked mean prospective resources of 223 mmboe1 (45 mmboe1 net to Longboat).
The first of these wells, Oswig (Company 20%), is expected to spud in July with Velocette (Company 20%) expected to be drilled in Q2 2023. In addition, and separate to the OMV farm-in, a further exploration well, Copernicus (Company 10%), is expected to commence drilling before the end of this quarter.

Today 07:00 San Leon Energy PLC (SLE)
Update on investment in the Oza field, Nigeria
https://www.investegate.co.uk/san-leon- ... 00109299Q/
San Leon's announcement of 3 May 2022 noted that the Company had an option until 30 June 2022 (the "OptionPeriod") to provide a further loan of US$2.5 million to Decklar Resources Limited ("Decklar"), in order to increase its shareholding in Decklar from 11% to 15% (or otherwise accept the pro rata reduction in its shareholding in Decklar to 11%).
San Leon is in discussions with Decklar in respect of potentially extending the Option Period.

Today 07:00 ADM Energy PLC (ADME)
Further re: Barracuda and Interim Injunction
https://www.investegate.co.uk/adm-energ ... 00109288Q/
provides an update on the legal proceedings in respect of its interest in the Barracuda oil field. As previously announced on 13 December 2021, the Company and K.O.N.H. (UK) Ltd ("KONH") obtained an interim injunction at the Federal High Court of Nigeria, Lagos ("Court") restraining Noble Hill-Network Limited ("NHNL"), its officers, agents, privies, or person howsoever connected from selling, disposing, divesting, or tampering with the 70% shareholding interest of KONH in NHNL to third-party investors or in any other manner whatsoever. Further to the announcement on 6 May 2022, the Company has been advised that the Court has adjourned this matter until 16 November 2022. The Company and NHNL informed the Court they are in settlement discussions with a view to resolving the dispute.

Today 07:00 Igas Energy PLC (IGAS)
Board Change
https://www.investegate.co.uk/igas-ener ... 00119283Q/
Tushar Kumar has informed the Board that he is resigning as a Director with immediate effect, having taken up a new role at another investment company. Tushar has been one of two Non-executive Directors appointed by Kerogen Capital to the Board of IGas.

Today 07:00 Ashtead Tech Hldgs (AT.)
Result of Annual General Meeting
https://www.investegate.co.uk/ashtead-t ... 00089275Q/
All resolutions put to shareholders at the meeting were successfully passed on a poll vote.

Today 07:00 Reabold Resources (RBD)
Board Change
https://www.investegate.co.uk/reabold-r ... 00119278Q/
is pleased to announce that, further to the appointment of Chris Connolly as Chief Financial Officer of the Company, as announced on 13 May 2022, Anthony Samaha will assume the role of Non-Executive Director, having previously acted as the Company's Finance Director.

Today 07:00 Tower Resources PLC (TRP)
Issue of Warrants to Directors
https://www.investegate.co.uk/tower-res ... 00079186Q/
announces the following issue of warrants to Directors and a consultant to the Company in lieu of fees.

Today 07:00 Energean PLC (ENOG)
TR-1: Notification of major holdings
https://www.investegate.co.uk/energean- ... 00119193Q/
On 28-Jun-2022, Growthy Holdings Co. Limited increased from 0% to 8.46%.

Today 07:00 Jadestone Energy PLC (JSE)
Total Voting Rights
https://www.investegate.co.uk/jadestone ... 00089268Q/
as at 30 June 2022, its capital consisted of 466,053,616 ordinary shares of £0.001 each, and each with voting rights. The Company does not hold any ordinary shares in treasury.

Today 07:00 Velocys PLC (VLS)
Total Voting Rights
https://www.investegate.co.uk/velocys-p ... 00079141Q/
the total issued share capital of the Company is 1,396,171,031 Ordinary Shares, each with voting rights.

Yesterday 18:31 Scirocco Energy PLC (SCIR)
Full-Year Results 2021
https://www.investegate.co.uk/scirocco- ... 31569166Q/
"The Group has made significant steps through the course of 2021 and into the first half of 2022 to re-position itself as a renewables business focused on delivering green energy solutions alongside generating revenue and returns for our shareholders. ... With the sale of Ruvuma moving ahead following the vote in favour at the General Meeting on 29th June 2022, the Group's resources are now released to fund follow-on and new investments in the target space and elements of the consideration will provide additional investing firepower as they arrive."...
EAG has now signed up a further three investment sites and has the potential to grow rapidly in 2022 and 2023.
The Group has screened a number of additional investment opportunities through 2021 and 1H 2022 and expects to pursue them.
Recognising that growth will require funding, the Board has been investigating sources of parallel investment which would reduce the call on Scirocco's balance sheet in the short term by bringing in third party capital alongside Scirocco balance sheet cash....
In Q1 2022 the revenue received for the quarter by Greenan totalled £323k (unaudited) supported by high power prices through the period. This compares to the same period in 2021 where revenue was £240k (unaudited) - a 34.5% year on year increase. EBITDA for Q1 2022 was £158k and at current power prices, EBITDA for the first 12 months of EAG's ownership of GGL is on target to exceed £600k.
[lots of detail on Ruvuma/Kiliwani North of interest to Aminex/Wentworth? Also Helium One]
Loss on ordinary activities after taxation amounted to £3.691 million (2020: £4.118 million). The Directors do not recommend payment of a dividend (2020: nil)....£2m cash at year-end

Yesterday 18:00 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 00069095Q/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Yesterday 17:59 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 59489145Q/
They bought back 7,000,000 shares at 391.430p = £27,400,087.00

Yesterday 17:08 DG Innovate PLC (DGI)
Delay to issuing Accounts & Suspension of trading
https://www.investegate.co.uk/dg-innova ... 08469055Q/
the Company has requested a suspension of listing from 7:30 a.m. on 1 July 2022 from the Official List and from trading on the London Stock Exchange. Due to a delay in the audit process, the Company is not in a position to publish its audited report and accounts for the year ended 31 December 2021 by 30 June 2022. The Company will request a restoration of its listing once the Company's audited report and accounts for the year ended 31 December 2021 has been published....This is expected to be before the end of July 2022.

Yesterday 17:04 Shell plc (SHEL)
Voting Rights and Capital
https://www.investegate.co.uk/shell-plc ... 0435H2126/
Shell plc's capital as at June 30, 2022, consists of 7,355,041,629 ordinary shares of €0.07 each. Shell plc holds no shares in Treasury.

Yesterday 16:48 Shell plc (SHEL)
Transaction in Own Shares
https://www.investegate.co.uk/shell-plc ... 4857H2115/
They bought back 3,000,000 shares at £21.479 = £64,436,203

Yesterday 16:36 Shell plc (SHEL)
Company Secretary Change
https://www.investegate.co.uk/shell-plc ... 3655H2108/
Shell plc announces the appointment of Caroline Omloo as Company Secretary with effect from August 1, 2022. Ms Omloo succeeds Linda Coulter who stands down from her role at the end of July 2022 and retires from Shell in February 2023 after 28 years of service with the Shell Group. NOTE Caroline Omloo is a Dutch national. Before joining Shell in 1999, she worked in private practice with law firm Nauta Dutilh. She has held various positions in Shell, including Secretary to the Audit Committee

Yesterday 16:18 Serica Energy PLC (SQZ)
Result of AGM
https://www.investegate.co.uk/serica-en ... 18278953Q/
the resolutions put to Shareholders at the Annual General Meeting (AGM) of the Company held earlier today were duly passed. The Board notes that there was a significant minority [24%] who voted against Resolution 1
[Res 1 was "1. to receive the consolidated financial statements and the reports of the Board of Directors and of the auditors for the year ended 31 December 2021." which is normally completely routine, so it's obviously some kind of protest against something]

Yesterday 16:00 Vivo Energy (VVO)
Holding(s) in Company
https://www.investegate.co.uk/vivo-ener ... 00068895Q/
On 23-Jun-2022, JPMorgan Chase & Co. reduced from 5.707% to 5.185%.

Yesterday 15:53 PAO Novatek (NVTK)
NOVATEK BoD Approves 2021 Sustainability Report
https://www.investegate.co.uk/pao-novat ... 53338863Q/
The Board of Directors of PAO NOVATEK ("NOVATEK" and/or the "Company") approved the Sustainability Report 2021

Yesterday 15:41 i3 Energy PLC (I3E)
Result of AGM
https://www.investegate.co.uk/i3-energy ... 41118883Q/
all resolutions duly passed.

Yesterday 15:00 ROSNEFT OIL COMPANY (ROSN)
Rosneft Publishes Report on Payments to Governments for 2021
https://www.investegate.co.uk/rosneft-o ... 0003EUEGF/
Rosneft Oil Company (“Rosneft”, or “the Company”) today publishes the Report on Payments to Governments for the year 2021.
https://www.rosneft.com/Investors/Repor ... vernments/

Yesterday 14:59 DCC PLC (DCC)
Appointment of Chief Executive Officer, DCC Energy
https://www.investegate.co.uk/dcc-plc-- ... 59468800Q/
announces the appointment of Dr. Fabian Ziegler as Chief Executive Officer of DCC Energy. Fabian will commence the role on 1 November 2022. He is currently Country Chair of Shell Germany and Chair of the Management Board with responsibility for Shell's businesses (upstream, downstream, power and renewables) in the DACH region. In his current role Fabian is at the forefront of energy transition having developed and driven Shell's net zero emissions plans for the region. Prior to his current role, Fabian was the Chief Procurement Officer for the Shell Group.

Yesterday 14:58 WOOD GROUP (JOHN) PLC (WG.)
Blocklisting - Interim Review
https://www.investegate.co.uk/wood-grou ... 5800P039C/

Yesterday 14:54 Lekoil Limited (LEK)
Annual Results and Directorate Change
https://www.investegate.co.uk/lekoil-li ... 54598789Q/
Following publication of the Accounts, the Company will liaise with its Corporate Advisor and Aquis in respect of the suspension of the Company's shares from trading and will update the market as soon as practical....
2021 was a year of change for the Company, one in which the integrity of the corporate structure established at the Company's foundation and the integrity of those entrusted to implement it, were tested and (in some cases) found wanting. This Chairman's statement seeks to summarise the events that led to the schism between the Company and Lekoil Nigeria...
In face of the hostile litigation by Lekoil Nigeria and Mr. Akinyanmi's refusal to repay the CEO loan, the financial position of the Company remains fragile and depends on the receipt of the monies under the Option Agreement, the recovery of the CEO Loan and/or equity funding from shareholders....
The Company reported a loss of $237,164,000 for the year ended 31 December 2021. The loss was primarily as a consequence of the impairment of the Company's investment in subsidiaries (Note 11) and intercompany receivables...
The Company's nominated adviser (and joint broker) during 2021 was SP Angel Corporate Finance LLP ("SP Angel"). From 13 January 2021, the Company also engaged Tennyson Securities as its joint broker....
We do not express an opinion on the accompanying financial statements of the company Lekoil Limited. Because of the significance of the matters described in the basis for disclaimer of opinion section of our report, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements....In the absence of any alternative evidence available to us, we were unable to form a view as to whether it is appropriate to prepare the financial statements using the going concern basis...
As explained in note 12 to the financial statements, the company conducted a formal review of various related intercompany loans and a total of US$133.5 million is estimated to be due to the company. We were unable to confirm or verify by alternative means the intercompany receivable included in the statement of financial position at a total amount of US$133.5 million as at 31 December 2021.

Yesterday 14:44 Tower Resources PLC (TRP)
Results of AGM
https://www.investegate.co.uk/tower-res ... 44218768Q/
all the resolutions proposed in the notice of meeting were duly passed.

Yesterday 14:38 Coro Energy PLC (CORO)
Notice of GM
https://www.investegate.co.uk/coro-ener ... 38058760Q/
The GM, to lay the Annual Report, is to be held at the offices of Pinsent Masons LLP, 30 Crown Place, Earl Street, London EC2A 4ES on 15 August 2022 at 2:00 p.m. and follows the Company's annual general meeting held on 14 June 2022.

Yesterday 14:33 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 33568755Q/
On 06-Jun-2022, Newtyn Management, LLC (New York United States) reduced from 4.272% to 3.866%.

Yesterday 14:21 Caspian Sunrise plc (CASP)
Result of AGM
https://www.investegate.co.uk/caspian-s ... 21518740Q/
At the Company's Annual General Meeting held earlier today all resolutions were passed with the following votes:

Yesterday 14:00 Savannah Energy Plc (SAVE)
Result of AGM
https://www.investegate.co.uk/savannah- ... 00058682Q/
The Company announces that at its Annual General Meeting held earlier today all the resolutions set out in the Notice of Annual General Meeting were passed by way of a poll by the requisite majority.

Yesterday 14:00 Serica Energy PLC (SQZ)
Corporate Presentations for AGM
https://www.investegate.co.uk/serica-en ... 00058702Q/
at the Annual General Meeting today, presentations will be made by both the Chairman, Tony Craven Walker, and the Chief Executive, Mitch Flegg. Copies of the presentations are available on the Company website http://www.serica-energy.com under Investors/Presentations.

Yesterday 13:57 Oilex Ltd (OEX)
Director Dealing
https://www.investegate.co.uk/oilex-ltd ... 57418700Q/
Non-Executive Director, Mr Peter Schwarz, has today transferred 10,611,250 of his fully paid ordinary shares in the Company ("Ordinary Shares") from a nominee account held in his own name to a nominee account of his spouse, Mrs Lesley Schwarz.

Yesterday 13:51 Borders & Southern (BOR)
Result of AGM
https://www.investegate.co.uk/borders-- ... 51018687Q/
Annual General Meeting held today all resolutions were passed. A presentation will shortly be on the website.

Yesterday 13:45 Victoria Oil & Gas (VOG)
Result of Annual General Meeting
https://www.investegate.co.uk/victoria- ... 45058677Q/
at the AGM of the Company held this morning, all resolutions that were proposed in the Notice of Annual General Meeting were passed on a poll.

Yesterday 13:39 S.N.G.N. Romgaz S.A. (SNGR)
Exxon Transaction status
https://www.investegate.co.uk/s.n.g.n.- ... 39458667Q/
Originally said the Exxon deal would complete in H1 but still waiting for two government signoffs which they think will happen in July.

Yesterday 13:10 Gulf Marine Services (GMS)
Result of AGM
https://www.investegate.co.uk/gulf-mari ... 10188633Q/
Oooh - some fun voting, they failed to get authority to allot shares and only just got authority for buybacks etc

Yesterday 12:34 Tullow Oil PLC (TLW)
Total Voting Rights
https://www.investegate.co.uk/tullow-oi ... 34578593Q/
As at 30 June 2022, Tullow Oil plc's issued share capital consisted of 1,438,299,661 ordinary shares (with a nominal value of 10p each) with voting rights. No ordinary shares were held in treasury.

Yesterday 12:33 Sound Energy PLC (SOU)
Total Voting Rights
https://www.investegate.co.uk/sound-ene ... 33478591Q/
in accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, the following information as at 30 June 2022.

Yesterday 12:30 Seplat Energy PLC (SEPL)
Corporate Announcement on Board Changes
https://www.investegate.co.uk/seplat-en ... 30058423Q/
The Board of Seplat Energy Plc is pleased to announce the appointment of Mr. Samson (Sam) Chibogwu Ezugworie as the new Chief Operating Officer and Executive Director on the Board of the Company effective 1st July 2022. Mr. Ezugworie comes with over 30 years extensive industry experience. The last 25 years was with Royal Dutch Shell in Nigeria and Overseas....prior to joining Seplat Energy, Mr. Ezugworie delivered exceptional business performance as Manager Geosolutions, Manager, Land Asset and General Manager Development & Subsurface for Shell Companies in Nigeria. He also served as a Director in Shell Exploration & Production Africa Limited (SEPA), Shell Petroleum Development Company of Nigeria Limited (SPDC) and Shell Nigeria Business Operations Limited

Hallucigenia
Lemon Quarter
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Re: Hal's oily roundup

#511624

Postby Hallucigenia » July 4th, 2022, 11:30 am

We're really in the dog days of summer, the biggest news today is Jadestone fixing their leaky tank. However DG Innovate looks one to watch, kicking out the CEO at 17:45 on a Friday is never a good thing.
And NBP over 270p, TTF at €160 - I know I've said it before but the gas market is crazy at the moment.

Brent=$111.22(July)              WTI=$107.89(July,Brent-3.33)      Nymex gas=$5.69(July)   
NBP =274.09p(July,Nymex+27.56) TTF=€158.740(August,Nymex+42.94) JKM=$38.675(August,Nymex+32.98)

Today 11:00 Rockhopper Exp plc (RKH)
Open Offer Closing and Updated Timetable
https://www.investegate.co.uk/rockhoppe ... 00572057R/
confirms that the Open Offer is scheduled to close today at 11am and provides an update on the expected date of Second Admission and commencement of dealing in Open Offer Shares which is now expected on 7th July. The revised timetable is set out below.

Today 10:59 Woodside Energy Grp. (WDS)
Director/PDMR Shareholding
https://www.investegate.co.uk/woodside- ... 59272049R/
Woodside Energy Group Ltd announces the allocation to Shiva McMahon of 27,473 equity rights pursuant to the Supplementary Woodside Equity Plan on 30 June 2022.

Today 09:01 Ascent Resources PLC (AST)
Update to Slovenian Partner Dispute
https://www.investegate.co.uk/ascent-re ... 01471812R/
announces that the Company and its Slovenian Joint Venture ("JV") partner, Geoenergo, have agreed to initiate the dispute resolution mechanism in the JV contract and accordingly have initiated the mediation process. A Court of Appeal, High Court Ljubljana Judge has now been appointed as the mediator between the joint venture partners. Mediation is expected to be initiated shortly.

Today 08:11 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 11391767R/
On 29-Jun-2022, Bank of America Corporation increased from 20.768% to 20.86%.

Today 07:24 Capricorn Energy PLC (CNE)
Transaction in Own Shares
https://www.investegate.co.uk/capricorn ... 24011710R/
They bought back 24,812 shares at 213.47p = £52,966.18

Today 07:00 Jadestone Energy PLC (JSE)
Resumption of Production Operations at Montara
https://www.investegate.co.uk/jadestone ... 00061702R/
Jadestone is pleased to report that, following a temporary repair of the leak point in the 2C tank and its complete isolation from the production system, together with a review by NOPSEMA of the Company's inspection and repair records relating to the Montara Venture FPSO crude oil tanks, production was safely reinstated on 3 July 2022.
The oil that was contained within the 2C crude oil storage tank has now been pumped to other tanks on the vessel so that there is no threat to the environment. A permanent repair of the 2C tank is being advanced, with work expected to start within the next several days.

Today 07:00 Providence Resources (PVR)
Appointment of Interim Chief Executive
https://www.investegate.co.uk/providenc ... 00070433R/
Alan Curran has been appointed Interim Chief Executive effective 4th July. Following Alan's appointment, James Menton reverts to his role as non-executive Chairman of the Board.
Alan's career spans 40 years in the oil and gas industry where he has held a wide range of senior roles. Most recently Alan led a transformational restructuring strategy at Verus Petroleum. As CEO from 2014 to 2019, he was responsible for overseeing $500 million of acquisitions

Today 07:00 Diversified Energy (DEC)
Cancellation and Exercise of Warrants
https://www.investegate.co.uk/diversifi ... 00071692R/
Diversified entered into an agreement to cancel 131,628 warrants held by a former Mirabaud Securities Limited ("Mirabaud") employee for an aggregate principal amount of approximately £46,465 (equivalent USD of approximately $56,435(a)). The former Mirabaud employee will surrender the warrants to Diversified for cancellation. Diversified will also issue 223,526 ordinary shares as other former Mirabaud employees exercise warrants at £0.75 per share. The Company will apply to admit these new ordinary to trading on the London Stock Exchange, which the Company expects to occur on 8 July 2022. Following this exercise and settlement, no warrants remain outstanding.
Diversified announces the vesting of 125,000 Restricted Stock Units ("RSUs") it previously issued under its equity incentive plan to Benjamin Sullivan, Executive Vice President, General Counsel and Corporate Secretary. To settle the award, the Company will transfer of 67,687 ordinary shares of £0.01 each (net of withholding tax) currently from its recently established Employee Benefit Trust

Today 07:00 Diversified Energy (DEC)
Notification of Major Holdings
https://www.investegate.co.uk/diversifi ... 00070934R/
On 30-Jun-2022, BlackRock, Inc. increased from 5.17% to 5.21%.

Today 07:00 IOG PLC (IOG)
Investor Presentation
https://www.investegate.co.uk/iog-plc-- ... 00061194R/
has released an updated Investor Presentation incorporating production data up to 30 June 2022. The presentation can be accessed here: https://bit.ly/3NzKiY2 Andrew Hockey will present on IOG at the Proactive One2One Investor Forum this Wednesday 6 July in London.
We are very pleased to exit the half year with Saturn Banks producing 60 mmscf/d gross, double the level of one month ago and at the top end of our projected 2H22 range. Our resilience measures on Blythe and Elgood are starting to bear fruit, with 93% uptime in June. After completing Southwark East in the coming days, we will resume drilling the Southwark West well, with both wells targeted for first gas in Q4. This will be followed directly by two exciting appraisal wells at Goddard and Kelham targeting further growth opportunities.
With average realised gas prices to date of 147p/therm and the forward curve for this winter currently exceeding 350p/therm (c.$250/boe)

Today 07:00 PetroTal Corp. (PTAL)
Investor Warrants & Total Voting Rights
https://www.investegate.co.uk/petrotal- ... 00061163R/
it received a notice to exercise 1,750,000 Investor Warrants at a price of 16 pence per Common Share from an investor in relation to the Investor Warrants issued on June 12, 2020. The Company received 280,000 GBP for the Warrants exercised.
Following the Warrants exercise, the Company will have 60,753,906 Investor Warrants outstanding.

Today 07:00 Rockhopper Exp plc (RKH)
Holding(s) in Company
https://www.investegate.co.uk/rockhoppe ... 00071177R/
On 20/06/2022, AEDOS ADVISERS (LONDON) LLP increased from 0% to 7.046%.

Today 07:00 Egdon Resources PLC (EDR)
BLOCK LISTING APPLICATION
https://www.investegate.co.uk/egdon-res ... 00070726R/
an application has been made to the London Stock Exchange plc for a block listing of securities in respect of 49,299,000 ordinary shares of £0.01 each (the 'New Ordinary Shares') to be admitted to trading on AIM.
The New Ordinary Shares will be issued from time to time in order to satisfy the remaining outstanding warrants which may be exercised. It is expected that admission will become effective on 8 July.
The block listing consists of 49,299,000 ordinary shares in respect of the remaining outstanding warrants granted in July 2021 as part of the Company's £1.44 million fundraise

Friday 17:58 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 58131105R/
They bought back 7,000,000 shares at 384.766p = £26,933,586.00

Friday 17:45 DG Innovate PLC (DGI)
Resignation of Director
https://www.investegate.co.uk/dg-innova ... 45511098R/
further to the 'Board Changes' announcement made earlier today Christopher Theis, a director of the Company and its former Chief Executive Officer, has resigned from the Company with immediate effect
[at 11.30 he was no longer going to move to chairman but remain a director - this does not feel good, although shares only down 10%]

Friday 17:30 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 30061029R/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Friday 16:50 Shell plc (SHEL)
Transaction in Own Shares
https://www.investegate.co.uk/shell-plc ... 5000H2385/
They bought back 3,000,000 shares at £21.414 = £64,240,540

Friday 15:51 Serica Energy PLC (SQZ)
TR-1: Notification of major holdings
https://www.investegate.co.uk/serica-en ... 51370911R/
On 30/06/2022, BlackRock, Inc. increased from below 5% to 5.01%.

Friday 15:36 BP PLC (BP.)
Director/PDMR Shareholding
https://www.investegate.co.uk/bp-plc--b ... 36070886R/
Shares acquired through participation in a dividend reinvestment plan (DRIP), in relation to her ordinary shareholding in her Share Plan Account

Friday 15:32 BP PLC (BP.)
Total Voting Rights
https://www.investegate.co.uk/bp-plc--b ... 32320878R/
The number of ordinary shares held in treasury by BP p.l.c. is 1,032,977,146.

Friday 15:09 Lansdowne Oil & Gas (LOGP)
Holding(s) in Company
https://www.investegate.co.uk/lansdowne ... 09430832R/
On 30-Jun-2022, Cantor Fitzgerald Europe reduced from 5.729% to <5%.

Friday 14:17 ADM Energy PLC (ADME)
OML 113 Update
https://www.investegate.co.uk/adm-energ ... 17350715R/
Panoro Energy ASA ("Panoro") (OSE Ticker: PEN), and PetroNor E&P Limited ("PetroNor") (OSE Ticker: PNOR), have agreed to further extend the long-stop date for Panoro to sell 100% of its ownership in OML 113 to PetroNor (the "Transaction"). It is expected that the transaction will now formally close within 14 days...ADM Energy holds a 9.2% profit interest in the Aje field in OML 113, which covers an area of 835km 2 offshore Nigeria.

Friday 14:03 Gulf Keystone Petrol (GKP)
Dividend Payment
https://www.investegate.co.uk/gulf-keys ... 03510681R/
At Gulf Keystone's 2022 Annual General Meeting on 24 June 2022, the Company's shareholders approved an annual ordinary dividend of $25 million...and hence a dividend of 9.574p per Common Share will be paid on 15 July 2022

Hallucigenia
Lemon Quarter
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Re: Hal's oily roundup

#511812

Postby Hallucigenia » July 5th, 2022, 11:51 am

PetroTal are throwing off cash in Peru and are hinting at dividends by the end of the year, Rockhopper complete their placing, PressureTech help their finances with a sale and leaseback and APICORP (Arab hybrid between the EBRD and a wealth fund) are placing half their stake in Ashtead via Numis if anyone wants to buy a lump.

Brent=$112.09(July)           WTI=$108.36(July,Brent-3.73)      Nymex gas=$5.7(July)   
NBP =301p(July,Nymex+30.54) TTF=€169.285(August,Nymex+45.43) JKM=$38.675(August,Nymex+32.97)

Today 10:34 Rockhopper Exp plc (RKH)
Results of Open Offer & Total Voting Rights
https://www.investegate.co.uk/rockhoppe ... 34063700R/
is pleased to announce the results of its Open Offer pursuant to the Capital Raising announced on 15 June 2022. The Company has received valid acceptances from Qualifying Shareholders in respect of 39,652,160 Open Offer Units, representing a take-up of over 69 per cent. of the 57,310,264 available Open Offer Units. Accordingly, the Open Offer has raised total gross proceeds of approximately US$3.4 million (£2.8 million)....
As a result, the Company has raised in aggregate gross proceeds of approximately US$10.4 million (£8.5 million) pursuant to the Capital Raising (including pursuant to the Placing, the Subscription and the Open Offer) through the issue of a total of 121,834,936 New Ordinary Shares and 60,917,237 Warrants.

Today 07:39 S.N.G.N. Romgaz S.A. (SNGR)
Related Party Transactions art.108 L.24 from 2017
https://www.investegate.co.uk/s.n.g.n.- ... 39143363R/
S.N.G.N. ROMGAZ S.A reports transactions concluded with affiliates based on the request for opening a term deposit without auto-renewal option, with the interest rate negotiated on July 4, 2022, in the amount of RON 200,000,000.00, due on July 27, 2022. The interest percentage rate applied to the above mentioned deposit is 6.95% per year.

Today 07:26 Capricorn Energy PLC (CNE)
Transaction in Own Shares
https://www.investegate.co.uk/capricorn ... 26023359R/
They bought back 8,643 shares at 212.48p = £18,364.65

Today 07:00 PetroTal Corp. (PTAL)
Q2 2022 Operations and Liquidity Update
https://www.investegate.co.uk/petrotal- ... 00063339R/
· Q2 2022 production averaged approximately 14,500 barrels of oil per day ("bopd"), a new quarterly record, representing 7% above revised guidance provided on May 26, 2022, the seventh straight quarter of production growth;
· Well 11H was put on production June 30, 2022, and has averaged approximately 9,550 bopd over its first four producing days with an estimated payout in early August 2022;
· The latest four-day average production ending on July 3, 2022, was a record 22,376 bopd, with a peak production of 26,000 bopd. To accommodate sales availability, the Company expects to maintain production between 18,000 and 19,000 bopd with Brazilian exports increasing until the ongoing Northern Peruvian Pipeline ("ONP") repairs are completed, which is expected by September 2022;
· Total cash at June 30, 2022 was $77.0 million, including $16.2 million of restricted cash. Estimated accounts receivable and accounts payable at the quarter end were approximately $88 and $50 million, respectively; and,
The Company remains on target to execute its debt repayment strategy in Q4 2022 or Q1 2023, which will allow an accretive shareholder return policy to be examined and approved in Q4 2022

Today 07:00 PressureTechnologies (PRES)
Sale and Leaseback of Roota Engineering Property
https://www.investegate.co.uk/pressuret ... 00052811R/
is pleased to announce that it has completed a sale and leaseback of its freehold property occupied by Roota Engineering in Rotherham with Victoria Court Mews Limited. The gross sale proceeds are £1.65 million in cash and the Company has a 15 year lease for the Property at an initial rent of £90k per annum, subject to three-yearly rent reviews linked to RPI, with a tenant only break option at the end of years five and ten. The Property had a net book value of £750k as at 31 March 2022

Today 07:00 SDX Energy PLC (SDX)
PUBLICATION OF SCHEME DOCUMENT
https://www.investegate.co.uk/sdx-energ ... 00062881R/
On 25 May 2022, the boards of SDX Energy PLC (the "Company") and Tenaz Energy Corp. (the "Offeror") announced (the "Announcement") that they had reached agreement on the terms of a recommended share-for-share offer pursuant to which the Offeror will acquire the entire issued ordinary share capital of the Company (the "Combination")....SDX is pleased to announce that a circular in relation to the Scheme (the "Scheme Document") setting out, among other things, a letter from the Chairman of SDX, an explanatory statement pursuant to section 897 of the Companies Act 2006, the full terms and conditions of the Scheme, an expected timetable of principal events, notices of the Court Meeting and the General Meeting and details of the actions to be taken by SDX Shareholders in connection with the Scheme has been published and made available today, subject to certain restrictions relating to persons in Restricted Jurisdictions, on SDX's website at https://www.sdxenergygroup.com/ and Tenaz's website at https://www.tenazenergy.com/.

Today 07:00 Rockhopper Exp plc (RKH)
Blocklisting Applications
https://www.investegate.co.uk/rockhoppe ... 00072851R/
an application has been made to the London Stock Exchange for a block listing of securities in respect of 10,000,000 Ordinary Shares of £0.01 each (the "New Ordinary Shares") to be admitted to trading on AIM. It is expected that admission will become effective on or around 8 July 2022. The New Ordinary Shares will be issued when necessary,

Today 07:00 Velocys PLC (VLS)
Block listing Interim Review
https://www.investegate.co.uk/velocys-p ... 00062561R/
Velocys Share Option Scheme

Today 07:00 Union Jack Oil PLC (UJO)
Director Exercise of Options and TVR
https://www.investegate.co.uk/union-jac ... 00062625R/
Mr Raymond Godson, Non-Executive Director of the Company, has exercised options over 150,000 ordinary shares of 5 pence each ("New Ordinary Shares") at a strike price of 22 pence each. Mr Godson will pay £33,000 in respect of his exercise of these options.
Following this exercise, Mr Godson is the beneficial owner of 392,058 Ordinary Shares, representing 0.35% of the enlarged total issued share capital.

Yesterday 18:22 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 22162798R/
They bought back 6,500,000 shares at 399.462p = £25,965,047.50

Yesterday 18:00 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 00052724R/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Yesterday 17:34 Shell plc (SHEL)
Transaction in Own Shares
https://www.investegate.co.uk/shell-plc ... 3440H2773/
They bought back 3,000,000 shares at £21.920 = £65,761,400

Yesterday 16:45 Ashtead Technology (AHT)
PROPOSED PLACING OF ORDINARY SHARES
https://www.investegate.co.uk/numis-sec ... 45042594R/
BP Inv2 Newco Ltd (the "Seller"), an entity controlled and majority-owned by Buckthorn Partners LLP ("Buckthorn Partners") and the Arab Petroleum Investments Corporation ("APICORP"), announces their intention to sell ordinary shares of 5 pence each in the Company (the " Shares") through a placing, by way of an accelerated bookbuild, to institutional investors (the "Placing")....approximately 12.6% of the Company's issued share capital....
The Placing will be launched immediately following this announcement. Numis Securities Limited ("Numis") is acting as Sole Bookrunner in connection with the Placing.The Seller currently holds 22,274,859 ordinary shares in Ashtead Technology, representing approximately 28.0% of the issued share capital of the Company

Yesterday 16:23 Pharos Energy PLC (PHAR)
EBT Share Purchase
https://www.investegate.co.uk/pharos-en ... 23012584R/
on 1 July 2022 and 4 July 2022, the SOCO Employee Benefit Trust ("EBT") purchased a total of 1,796,143 ordinary shares of £0.05 each in the capital of the Company ("Ordinary Shares"). On 1 July 2022, the EBT acquired 912,680 Ordinary Shares at an average price of £0.2200 and on 4 July 2022, the EBT acquired a further 883,463 Ordinary Shares at an average price of £0.2235. The combined average price per Ordinary Share for both purchases was £0.2218.

Yesterday 15:34 Petrofac Limited (PFC)
Petrofac continues growth in Africa with Tullow’s Jubilee award
https://www.investegate.co.uk/petrofac- ... 3402EAFOQ/
sees further growth in Africa having been selected by Tullow Oil to provide operations services for their world-class Jubilee Development in Ghana, West Africa. Petrofac’s role on the Jubilee Development in Ghana – one of the largest oil fields discovered offshore West Africa in 20 years – includes the provision of operations, maintenance and technical support services for Tullow Oil’s Kwame Nkrumah (KNK) Floating Production Storage and Offloading (FPSO) vessel.

Yesterday 14:20 Lamprell plc (LAM)
Holding(s) in Company
https://www.investegate.co.uk/lamprell- ... 20012416R/
On 28-Jun-2022, Sami Said AlAngari increased from 6.585% to 18.561%.

Yesterday 14:13 Lamprell plc (LAM)
Holding(s) in Company
https://www.investegate.co.uk/lamprell- ... 13042408R/
On 24-Jun-2022, Sami Said AlAngari increased from 0% to 6.585%.

Yesterday 12:26 Angus Energy PLC (ANGS)
Direct Subscription for £3,000,000 & TVR
https://www.investegate.co.uk/angus-ene ... 26252276R/
Further to the Company's announcement of 24 May 2022, Angus Energy Plc (AIM:ANGS) is pleased to announce that following receipt of the subscription funds it has now completed the subscription to raise, in aggregate, gross proceeds of £2,000,000 through the direct subscription of 182,000,000 Ordinary Shares (the "Initial Subscription Shares") to a group of family offices and private investors led by Aleph International Holdings (UK) Limited ("Aleph") at a price of 1.0989 pence per share, conditional only on Admission. In addition, subscription agreements have also been signed for the remaining £1,000,000 through the direct subscription of 91,000,000 at a price of 1.0989 pence per share

Yesterday 11:58 Egdon Resources PLC (EDR)
Notification of Major Holdings
https://www.investegate.co.uk/egdon-res ... 58042195R/
On 20-Jun-2022, Patrick Evershed CBE (and family accounts) holding via Killik & Co LLP (Mayfair) increased from 5.08% to 6.03%.

Hallucigenia
Lemon Quarter
Posts: 2570
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Re: Hal's oily roundup

#512119

Postby Hallucigenia » July 6th, 2022, 11:40 am

Enteq's results are meh on the face of it, but are so badly written they could have found the secret to perpetual motion and you wouldn't know it. Grrr.
Parkmead are going gangbusters producing gas in NL, more contracts for GETECH, UOG dust in Egypt, Saltfleetby gets ever closer for Angus.
And so we now have a Chancellor who knows the sector, as an adviser to Afren (administration, SFO investigation, two in jail for corruption) and as Chief Strategy Officer to Gulf Keystone (debt restructuring saw shareholders lose 99% of their equity, Todd Kozel now in jail notionally for not filing his taxes but in reality for being bent as a 9-bob note).
I'm sure a glorious future awaits!

Brent=$104.39(July)           WTI=$100.39(July,Brent-4.00)      Nymex gas=$5.64(July)   
NBP =258p(July,Nymex+25.16) TTF=€161.985(August,Nymex+42.93) JKM=$40.095(August,Nymex+34.45)

Today 10:04 Nostrum Oil & Gas (NOG)
TR-1: Notification of major holdings
https://www.investegate.co.uk/nostrum-o ... 04315125R/
On 05/07/2022, AT INVESTMENTS LIMITED (TORTOLA, BRITISH VIRGIN ISLANDS) reduced from 11.7769% to 0%.

Today 08:20 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 20174951R/
On 04-Jul-2022, Bank of America Corporation reduced from 20.86% to 18.175%.

Today 07:29 Capricorn Energy PLC (CNE)
Transaction in Own Shares
https://www.investegate.co.uk/capricorn ... 29434897R/
They bought back 29,744 shares at 211.49p = £62,905.59

Today 07:02 i3 Energy PLC (I3E)
Aug 2022 Dividend Declaration
https://www.investegate.co.uk/i3-energy ... 02204879R/
i3 announces its monthly dividend totalling £1.6996 million and confirms the following:
Dividend: 0.1425 pence/share

Today 07:00 Enteq Technologies (NTQ)
Final Results and Investor Presentation
https://www.investegate.co.uk/enteq-tec ... 00104358R/
Total revenue up from $5.1m to $7.3m due to strengthening North American market, offsetting reduced activity in China:
o North America revenue up from $1.9m to $6.2m
o International revenue down from $3.2m to $1.1m
· Adjusted EBITDA2 up from $0.1m to $0.3m
· Loss attributable to shareholders reduced from $1.1m to $0.8m
Andrew Law and David Steel, Chief Financial Officer, will be providing a live presentation relating to these results via the Investor Meet Company platform on 8th July 2022 at 10:30am BST.
a closing cash position of $4.8m as at 31 March 2022.
The Company's Annual General Meeting will be held on 21 September 2022 at 12:00 noon at the offices of finnCap, 1 Bartholomew Close, London, EC1A 7BL.
[grrr - what a frustrating set of results to read for the uninitiated, you kinda need to do upfront the 2-line summary of what the company actually does but instead it's all abbreviations and jargon]

Today 07:00 Parkmead Group (The) (PMG)
Record Gas Revenues and Accelerated New Drilling
https://www.investegate.co.uk/parkmead- ... 00084244R/
is pleased to provide the following trading update on the performance of its Dutch gas assets for the year-ended 30 June 2022.... revenue for the year to 30 June 2022 from the Company's Dutch gas assets is now expected to exceed €14.5 million, ahead of the Board's expectations....Parkmead has chosen to remain 100% unhedged....
The average netback for the year to 30 June 2022 from the Netherlands was approximately $120 per barrel of oil equivalent ("boe"), with a field operating cost of just US$8.6 per boe. Average gross production for the year across these assets was 21.8 million cubic feet per day ("MMscfd"), approximately 3,750 barrels of oil equivalent per day....
A drilling rig has been secured for the upcoming 'LDS' two-well campaign in the Netherlands. We now expect to receive the rig by early Q4 2022, ahead of the schedule outlined in the interim results. The LDS wells will be drilled from the existing Diever well site and will target a combined mid-case gas-in-place of 37.2 billion cubic feet
[up 12%]

Today 07:00 GETECH Group plc (GTC)
$2.15m of new contracts
https://www.investegate.co.uk/getech-gr ... 00104376R/
secured $2.15 million of new contracts. These include geoscience data sales and product renewals and extensions for the Group's ground-breaking Globe knowledge base, which models the earth's evolution over the last 400 million years. The transactions include a $0.9 million multi-product sale to a global critical minerals company. This is Getech's largest contract to date in the critical minerals sector....Approximately 56% of these new sales are expected to translate to revenue in 2022. This places Getech on track with market expectations for double digit annual revenue growth.

Today 07:00 United Oil & Gas PLC (UOG)
ASV-1X exploration well test update
https://www.investegate.co.uk/united-oi ... 00104365R/
announces an update on the ASV-1X exploration well in the Abu Sennan licence, onshore Egypt.
The ASV-1X well was drilled safely and under-budget to a total depth of 3,496 metres. It encountered both primary and secondary reservoirs, and as announced on 30 May 2 022 a comprehensive testing programme was initiated. The testing programme is still underway, but after over a week of testing with a sucker rod pump installed, no hydrocarbons have yet been recovered....
The 2022 Abu Sennan drilling campaign is continuing with the AJ-14 development well, with the announcement of the spud on 21 June 2022. Two further wells are planned for this year, including an ASH development well, and the ASF-1X exploration well. The ASF-1X well is located in the south-west of the Abu Sennan licence, approximately 30km away from the ASV-1X well, and the prospectivity of ASF-1X well is not impacted by the results of the ASV-1X well.

Today 07:00 Touchstone Explrtn. (TXP)
CASCADURA EIA REVIEW PROCESS UPDATE
https://www.investegate.co.uk/touchston ... 00104382R/
provides a further update on the status of the Cascadura Environmental Impact Assessment ("EIA") in support of an application for a Certificate of Environmental Clearance, which must be approved by the Trinidad and Tobago Environmental Management Authority ("EMA") to conduct development operations within the Cascadura area in the Company's Ortoire block....
The Company received an initial EIA Review and Assessment Report ("RAR") from the EMA on May 5, 2022 and responded to the requests raised on May 15, 2022. Following receipt of a second RAR on June 24, 2022, Touchstone has submitted a partial response and will be meeting with the EMA to clarify the remaining aspects to ensure that the queries are addressed by the Company. Touchstone will provide further feedback to the EMA as appropriate following this meeting. The EMA has noted that a determination will be made within thirty working days of receiving a complete response to the second RAR.

Today 07:00 PressureTechnologies (PRES)
Investor Presentation
https://www.investegate.co.uk/pressuret ... 00074188R/
is pleased to announce that Chris Walters, Chief Executive and James Locking, Chief Financial Officer will provide a live presentation relating to the Group's 2022 Interim Results via the Investor Meet Company platform on 20th July 2022 at 10:00am BST.

Today 07:00 Touchstone Explrtn. (TXP)
EMPLOYEE PURCHASE PLAN & DIRECTOR / PDMR PURCHASES
https://www.investegate.co.uk/touchston ... 00114404R/
announces the following purchases of Company common shares under its Employee and Non-Executive Director Share Purchase Plans.

Today 07:00 Block Energy PLC (BLOE)
Issue of Options and Shares and PDMR Dealing
https://www.investegate.co.uk/block-ene ... 00104367R/
it issued nil-cost options over a total of 1,768,958 ordinary shares of 0.25p each ("Options") to directors, employees, and consultants. The Options were issued in lieu of cash payment for 40% of salaries and consultants' fees and up to 50% of directors' fees, in accordance with the cash conservation measures announced on 7 April 2020

Today 07:00 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 00064318R/
They bought back 7,500,000 shares at 385.700p = £28,927,504.00

Today 07:00 Diversified Energy (DEC)
Notification of Major Holdings
https://www.investegate.co.uk/diversifi ... 00114855R/
On 04-Jul-2022, BlackRock, Inc. kept their total holding at 5.21% whilst fiddling with their shares vs other formats.

Yesterday 18:17 Shell plc (SHEL)
Director/PDMR Shareholding
https://www.investegate.co.uk/shell-plc ... 1707H3008/
the payment of the interim dividend on June 27, 2022 in respect of the first quarter of 2022, the following Persons Discharging Managerial Responsibilities ("PDMRs") acquired dividend shares in respect of shares previously delivered to them under the annual bonus and/or shares previously vested under employee share plans and held in a Share Plan Account.

Yesterday 18:00 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 00034259R/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Yesterday 16:55 Capricorn Energy PLC (CNE)
Total Voting Rights
https://www.investegate.co.uk/capricorn ... 55064191R/
For the purposes of the provisions of the Disclosure and Transparency Rules, the total number of shares in the capital of the Company as at 5 July 2022 was as follows:

Yesterday 16:48 Shell plc (SHEL)
Transaction in Own Shares
https://www.investegate.co.uk/shell-plc ... 4806H2988/
They bought back 3,109,217 shares at £21.226 = £65,994,704

Yesterday 16:36 PetroTal Corp. (PTAL)
Price Monitoring Extension
https://www.investegate.co.uk/petrotal- ... 36294167R/
https://uk.finance.yahoo.com/quote/PTAL.L/chart
On the day it's ended in the usual range but at one point spiked up to +12%. Over the last 2 weeks it's been in the usual range.

Yesterday 16:36 Touchstone Explrtn. (TXP)
Price Monitoring Extension
https://www.investegate.co.uk/touchston ... 36404169R/
https://uk.finance.yahoo.com/quote/TXP.L/chart
On the day it's dropped -11.3% having touched -12%. Over the last 2 weeks it's down -21.3%.

Yesterday 16:22 TotalEnergies SE (TTE)
Director/PDMR Shareholding
https://www.investegate.co.uk/totalener ... 2200Z4100/
TotalEnergies SE has received various notifications of dealing from Persons Discharging Managerial Responsibilities (“PDMR”). The notification of dealing form for each PDMR can be found below.

Yesterday 15:46 Eco (Atlantic) O&G (ECO)
TR-1
https://www.investegate.co.uk/eco--atla ... 46364117R/
On 1 July 2022, Coronation Fund Managers (Cape Town, South Africa) increased from 0% to 3.24%.

Yesterday 15:06 Petrofac Limited (PFC)
Director/PDMR shareholding
https://www.investegate.co.uk/petrofac- ... 0636ESBXJ/
the Company hereby confirms that ordinary shares (Shares) of US$0.02 each in the Company were purchased on 5 July 2022 for the following Directors at 110.47 pence per Share. These purchases are in line with the Company’s remuneration arrangements, as published in the 2021 Annual Report and Accounts:

Yesterday 14:01 88 Energy Limited (88E)
Price Monitoring Extension
https://www.investegate.co.uk/88-energy ... 01084013R/
https://uk.finance.yahoo.com/quote/88E.L/chart
On the day it's up +11.1% with a spike to +22%. Over the last 2 weeks it's been in the usual range.

Yesterday 14:00 Providence Resources (PVR)
Price Monitoring Extension
https://www.investegate.co.uk/providenc ... 00364009R/
https://uk.finance.yahoo.com/quote/PVR.L/chart
On the day it's jumped +13.4% with a spike to +25%. Over the last 2 weeks it's soared +68.9% with a spike to +86%.

Yesterday 13:46 Angus Energy PLC (ANGS)
Progress Update at Saltfleetby
https://www.investegate.co.uk/angus-ene ... 46213988R/
the Company's main 8 kilometre export line to Theddlethorpe's National Grid Entry point has now been purged of nitrogen and pressured up to 60 barg with grid specification gas. Nitrogen is used for its inert properties to prevent corrosion within a pipeline during periods of shut in. Removal of nitrogen is one necessary preliminary step to being able to flow our own natural gas forward into the national transmission system.

Yesterday 13:10 Hunting PLC (HTG)
PDMR Shareholding
https://www.investegate.co.uk/hunting-p ... 10433960R/
The Company was informed today that Stewart Barrie has purchased 10,000 Hunting PLC Ordinary shares of 25p each at a price of 228.32 pence per share. The purchase took place on 30 June 2022.

Hallucigenia
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Re: Hal's oily roundup

#512454

Postby Hallucigenia » July 7th, 2022, 11:18 am

Not that anybody is paying attention, but the companies with good internal controls are now reporting preliminary numbers for H1, Shell have gangbuster numbers despite having to "derecognise" [!] Sakhlalin, pretty solid from Wood although everything is a bit on hold until they fix their balance sheet with the sale, they've not breached covenants though. Echo had solid results in Argentina with plans to spend a bit of money to increase production 40%, Vaalco going well in Gabon with an expansion of the drilling programme. Pantheon spud their first horizontal well to appraise Alkaid #2.
The other big news is the 4th round of renewable contracts, which has seen 11GW of solar/wind (42TWh/year at official load factors) contracted at an average 2021 price of £48/MWh, including 7GW of offshore wind at £37/MWh (2012 prices) or £44/MWh in current money. Atlantis (Meygen) picked up 28MW of tidal stream at £178.54/MWh with the other tidal players picking up another 14MW or so.

Brent=$101.48(July)              WTI=$99.29(July,Brent-2.19)       Nymex gas=$5.6(July)   
NBP =320.12p(July,Nymex+32.87) TTF=€180.025(August,Nymex+48.31) JKM=$38.610(August,Nymex+33.01)

Today 10:25 Eco (Atlantic) O&G (ECO)
TR-1
https://www.investegate.co.uk/eco--atla ... 25526724R/
On 01-Jul-2022, Meridian Capital International Fund increased from 0% to 3.47%.

Today 07:59 Nostrum Oil & Gas (NOG)
TR-1: Notification of major holdings
https://www.investegate.co.uk/nostrum-o ... 59046567R/
On 05-Jul-2022, Tengri Partners (Kazakhstan) LLP increased from 8.56% to 20.34%.

Today 07:28 Capricorn Energy PLC (CNE)
Transaction in Own Shares
https://www.investegate.co.uk/capricorn ... 28416557R/
They bought back 34,796 shares at 211.38p = £73,551.78

Today 07:00 Shell plc (SHEL)
Shell second quarter 2022 update note
https://www.investegate.co.uk/shell-plc ... 0000H3283/
Gas Production is expected to be between 930 and 980 thousand barrels of oil equivalent per day.
LNG liquefaction volumes are expected to be between 7.4 and 8.0 million tonnes, reflecting the derecognition of Sakhalin related volumes.
Trading and optimisation results for Integrated Gas are expected to be lower compared to the first quarter 2022, which had exceptional trading optimisation opportunities.
Sakhalin results derecognition is expected to have a negative impact of $300 to $350 million.
Underlying Opex is expected to be between $1.1 and $1.3 billion.
Additionally one-off charges of around $200 million are expected including well write offs, provisions and commercial settlements.
Oil Production is expected to be between 1,850 and 1,950 thousand barrels of oil equivalent per day, reflecting higher scheduled maintenance.
Underlying Opex is expected to be between $2.4 and $2.8 billion.
The indicative refining margin is $28.04/bbl, compared to $10.23/bbl in the first quarter 2022; the increased margin is expected to have a positive impact of between $800 and $1,200 million on the second quarter results of Products compared to the first quarter 2022.
Indicative chemicals margin is $86/tonne, compared to $98/tonne in the first quarter 2022, leading to an expected loss for chemicals in the second quarter 2022.
The share buyback programme of $8.5 billion announced for the first half of 2022 was completed on July 05, 2022.
The following Brent outlook has been assumed for impairment reversal testing: $80/bbl (2023), $70/bbl (2024), $70/bbl (2025) and long-term $65 (real terms 2022).

Today 07:00 Wood Group (John)PLC (WG.)
Half year trading update
https://www.investegate.co.uk/wood-grou ... 00096022R/
○ Strong order book growth, up 18% YoY and 5% YTD to c.$8.1 billion at 31 May 2022
○ Strong growth in Projects order book, up 30% YoY and 10% YTD. Growth led by engineering design and EPCm scopes in line with move away from large-scale lump sum work
· Adjusted EBITDA at around $250 million , with a relatively robust performance in Consulting and Projects offset by a decline in Operations
·Adjusted EBITDA margin around 7.9% compared to 8.3% last year.
· Expect a stronger performance in H2 across all business units, supported by the higher order book

Today 07:00 Echo Energy PLC (ECHO)
H1 2022 Production and Operational Update
https://www.investegate.co.uk/echo-ener ... 00096055R/
is pleased to provide an operational update regarding its Santa Cruz Sur assets, onshore Argentina for H1 2022 to 30 June 2022. In addition, the Company confirms the agreement by the Santa Cruz Sur partners to a plan to materially increase Santa Cruz Sur production by c.40% above average H1 2022 production levels.
Net liquids production in Q2 2022 averaged 272 bopd, an increase over Q1 levels (Q1 2022: 265bopd) despite, as previously announced, a 35-day maintenance and upgrade programme on the Oceano field during the quarter, when oil and gas production from the field was temporarily brought offline.
Net gas production averaged 6.8 MMscf/d during Q2 2022 (Q1 2022: 7.4 MMscf/d), with Q2 2022 production again impacted as a result of the Oceano field production being brought temporarily offline for maintenance and upgrades to the compressor and associated infrastructure.
Over a six month period, anticipated to commence in Q3 2022, the Santa Cruz Sur partners intend to seek to increase production by approximately 40% from the levels previously achieved over H1 2022. If achieved, the Enhancement Plan would increase total daily production from Santa Cruz Sur to around 2,000 boepd, net to Echo's 70% interest in Santa Cruz Sur.

Today 07:00 Vaalco Energy Inc (EGY)
Operational Update
https://www.investegate.co.uk/vaalco-en ... 00096540R/
the South Tchibala 1HB-ST well that was successfully drilled and completed from the Avouma platform in the Etame field, offshore Gabon, as well as additional operational information regarding its activities in Gabon.
· Plans to exercise extension option on currently contracted rig and add two additional wells to current 2021/22 drilling program for a total of six wells:
o Currently mobilizing rig to the Southeast Etame North Tchibala ("SEENT") platform to commence drilling the ETBNM 2H-ST, the fourth development well in the 2021/2022 program;
· Reported that liftings during the second quarter of 2022 totaled 1,871,446 gross barrels of oil, a record quarterly high, and reaffirmed that VAALCO's full year 2022 net production guidance remains within the range of 9,500 - 10,500 BOPD.

Today 07:00 Pantheon Resources (PANR)
Spudding of Alkaid #2 Well
https://www.investegate.co.uk/pantheon- ... 00096035R/
Operations have commenced on the Alkaid oil accumulation with the spudding of Alkaid #2, the Company's first horizontal well on the ANS, using the Nabors 105AC drill rig. The rig is larger than those previously used, with increased capacity, and can undertake multiple functions.
Recoverable Resource (10-15%) 90-135 mmbo
Recoverable Resource (2020 IER) 76.5 mmbo

Today 07:00 Mosman Oil & Gas (MSMN)
Corporate Presentation
https://www.investegate.co.uk/mosman-oi ... 00106051R/
an updated Corporate Presentation is now available on the Company's website at http://www.mosmanoilandgas.com.

Today 07:00 Great Eastern Energy (GEEC)
Environmental, Social and Governance Report
https://www.investegate.co.uk/great-eas ... 00105636R/
is delighted to announce the successful completion of its inaugural Environmental, Social, and Governance ("ESG") Report. The ESG assurance letter from Ernst & Young is available at http://www.geecl.com/esg.php

Today 07:00 Gran Tierra Energy (GTE)
Director/PDMR Shareholding
https://www.investegate.co.uk/gran-tier ... 00066127R/
Deferred Stock Units ("DSUs") and Stock Options have been granted to certain PDMRs effective July 1, 2022 in accordance with the payment of directors' fees for the third quarter of 2022.

Today 07:00 PetroTal Corp. (PTAL)
Grant of Performance Share Units
https://www.investegate.co.uk/petrotal- ... 00106534R/
PetroTal granted an aggregate of 172,058 PSUs, to new employees of the Company in accordance with the provisions of the Company's PSU plan.

Today 07:00 Europa Oil & Gas (EOG)
Change of Registered Office
https://www.investegate.co.uk/europa-oi ... 00096056R/
it has changed its registered office address to 30 Newman Street, London, W1T 1PT, effective 6 July 2022.

Yesterday 18:00 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 00035795R/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Yesterday 17:45 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 45265923R/
They bought back 7,100,000 shares at 377.358p = £26,792,449.80

Yesterday 17:21 SDX Energy PLC (SDX)
Holding(s) in Company
https://www.investegate.co.uk/sdx-energ ... 21115887R/
On 05-Jul-2022, Discretionary clients of River and Mercantile Asset Management LLP reduced from 10.021% to 5.622%.

Yesterday 16:12 Tullow Oil PLC (TLW)
Rule 2.9 Announcement
https://www.investegate.co.uk/tullow-oi ... 12345771R/
Therefore, the total number of shares with voting rights in the Company at the above date was 1,438,386,943.

Yesterday 15:00 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 00425713R/
On 05-Jul-2022, Newtyn Management, LLC (New York) increased from 3.866% to 4.008%.

Yesterday 11:07 Eco (Atlantic) O&G (ECO)
TSX approval - Block 3B/4B additional interest
https://www.investegate.co.uk/eco--atla ... 07045273R/
it had received TSX Venture Exchange (the "Exchange") approval for its acquisition of an additional 6.25% Participating Interest in Block 3B/4B, offshore South Africa from the Vendor, one of the shareholders of Ricocure (Proprietary) Limited (the "Acquisition"). As disclosed in the Company's announcement of 27 June 2022

Hallucigenia
Lemon Quarter
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Re: Hal's oily roundup

#512702

Postby Hallucigenia » July 8th, 2022, 12:23 pm

So San Leon are finally sorting themselves out after a year, unravelling a complicated network of cross-holdings and loans that will see their partner end up with 55% of the public company (from 13%) which will hold 44.1% of a 323mmboe field in Nigeria and just over half of the company building a new pipeline from it - the results RNS doesn't make much sense unless you read the earlier transaction RNS first.
Great Eastern are very happy about a big upgrade to their 3C reserves, but 1/2P are down reflecting mediocre production numbers.
Enwell's Q2 production was halved due to the war but prices are good, similar story from Petrom (without the halving due to war) with striking refining margins. Vivo deal is getting closer to completion, Southern complete their fundraising, UOG have a research note talking up the value of Maria and director buying.
Big spike in Nymex gas, it would seem that the LNG outages aren't having the expected effect on US gas supplies. We're screwed.

Brent=$104.55(July)             WTI=$102.46(July,Brent-2.09)      Nymex gas=$6.22(July)   
NBP =280.5p(July,Nymex+27.42) TTF=€173.110(August,Nymex+45.25) JKM=$39.570(August,Nymex+33.35)

Today 11:30 Harbour Energy PLC (HBR)
Director/PDMR Shareholding
https://www.investegate.co.uk/harbour-e ... 30028462R/
On 7 July 2022, [6.3m, £20m] shares in certain EIG-managed entities were transferred by Linda Z. Cook, Chief Executive Officer, to her spouse Steven R. Cook.

Today 09:15 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 15498301R/
On 06-Jul-2022, Bank of America Corporation reduced from 18.476% to 14.623%.

Today 08:40 Serica Energy PLC (SQZ)
TR-1: Notification of major holdings
https://www.investegate.co.uk/serica-en ... 40078261R/
On 06/07/202 2, BlackRock, Inc. increased from 5.01% to 5.02%.

Today 08:38 Rockhopper Exp plc (RKH)
Holding(s) in Company
https://www.investegate.co.uk/rockhoppe ... 38568259R/
On 5 July 2022, AEDOS ADVISERS (LONDON) LLP reduced from 7.046% to 6.565%.

Today 08:01 San Leon Energy PLC (SLE)
Final results
https://www.investegate.co.uk/san-leon- ... 01427694R/
Negotiated and announced on 24 June 2021 the proposed Midwestern Reorganisation, which is described in full in the Company's Admission Document, which is being published later today.
• Included within the basis of preparation note of the financial statements and Independent Auditor's report are details regarding material uncertainty related to going concern. This is uncertainty is mitigated by the transactions announced today. Cash and cash equivalents as at 31 December 2021 were US$7.6 million (includes US$6.8 million restricted and held in escrow for the Oza transaction) (31 December 2020: US$18.5 million including US$6.8 million restricted and held in escrow for the Oza transaction).
• In 2021, US$2.2 million (31 December 2020: US$46.5 million) in principal and interest payments has been received under the MLPL Loan Notes.
• Outstanding amounts due under the MLPL Loan Notes are now approximately US$105.6 million (par value), which are subject to current repayment waivers pending the completion of the proposed Midwestern Reorganisation, and would be extinguished as part of the consideration if the transaction were to complete.
• Oil delivered to the Bonny terminal for sales was approximately 4,400 barrels of oil per day ("bopd") in 2021 (21,100 bopd in 2020) and has been affected by combined losses and downtime of approximately 79%. The 2021 figure has also been affected by OPEC oil production quota restrictions, and some Covid-related delays.
• Gas sales averaged 29.6 million standard cubic feet per day ("mmscf/d") in 2021 after downtime (32.7 mmscf/d in 2020).
• Pipeline losses by the Bonny Terminal operator have increased markedly over the past year (31 December 2021: 70%; 31 December 2020: 28%), largely due to lower pipeline throughput as a result of OPEC quota restrictions and Covid-related issues.
On 8 July 2022, the Company entered into the new facility for the purposes of funding its working capital requirements and for financing the Further ELI Investments, details of which can be found in the Admission Document. The new facility is for US$50 million.
The Company was proud to announce in June 2021 the proposed transaction to increase its position in OML 18 and ELI significantly, and today we will publish an Admission Document in this respect. I view the proposal as a milestone in San Leon's growth aspirations, and an integral part of our strategy.
The MLPL Reorganisation and the ELI Reorganisation together with the Further ELI Investments would result in San Leon's initial indirect interest in OML 18 increasing from 10.58% to 44.1%, while the MLPL Loan Notes would fall away. In additional transactions, the Company's interest in ELI would increase to approximately 50%, as well as having approximately US$50 million of loan notes receivable from ELI.
Last year I anticipated that the new oil export system, ACOES, was expected to be operational during H2 2021. While the timing on this has slipped, I am pleased to report that barging operations to the FSO are expected by ELI to commence during the second half of 2022, and that ELI expects to have the pipeline completed to the FSO at the end of 2022.

Today 08:00 San Leon Energy PLC (SLE)
Proposed Transactions
https://www.investegate.co.uk/san-leon- ... 00278191R/
it has entered into a series of agreements with Midwestern Oil & Gas Company Limited ("Midwestern") to consolidate Midwestern's holdings in San Leon, Midwestern Leon Petroleum Limited ("MLPL") and Energy Link Infrastructure (Malta) Limited ("ELI") into a single holding in San Leon (together the "Proposed Midwestern Reorganisation"). In addition, San Leon announces further conditional investments in ELI
San Leon's exposure to the world class OML 18 asset increases fourfold to a 44.1% initial indirect economic interest; and
o the Proposed Transactions will increase San Leon's ownership of ELI to c.50%. ELI is progressing the ACOES pipeline project to provide a dedicated oil export route for OML 18, with the potential for third party fees.
· CPR on OML 18 issued today with 2P reserves of 323 mmboe net attributable to San Leon with an economic NPV10 value of US$1.1 billion (recent consensus long-term oil price and assuming completion of the Proposed Transactions);
Eroton, the operator of OML 18, is seeking to undertake a series of transactions to increase its interests in OML 18 and increase its funding facilities. Completion of these transactions (which are yet to be entered into) will be a condition of the Proposed Transactions.
On completion of the Proposed Midwestern Reorganisation (which is expected to occur in Q4 2022 following the Eroton OML 18 Transactions) San Leon will own a 44.1% initial indirect economic interest in OML 18 with the remaining 55% interest being held by NNPC (the Nigerian State-owned oil company) and 0.9% by Bilton. The Further ELI Investments will result in San Leon owning on completion a c.50% interest in ELI (which is the owner of the ACOES which will be utilised by OML18) and San Leon becoming a significant holder of loan receivables from ELI.
Eroton, the operator of the OML 18 licence, currently holds a 27% effective economic interest in the OML 18 licence. Eroton has negotiated an agreement with Sahara pursuant to which, when executed, it will conditionally agree to acquire additional interests in OML 18 through the Sahara OML 18 Transaction and the Bilton OML 18 Transaction which has been entered into today. These Eroton OML 18 Transactions will result in the acquisition of Sahara's and Bilton's effective economic interests in OML 18 of 16.2% and 1.8% respectively.
In order to fund the Sahara OML 18 Transaction and Bilton OML 18 Transaction, Eroton proposes to enter into the New Eroton Debt Facilities which represent senior secured reserve-based lending facilities totaling US$750 million to be provided to Eroton by a lending consortium led by Afreximbank
San Leon would become the largest shareholder in ELI, with its stake rising to 228,458 ELI Shares representing 50.64% and will be a significant lender to ELI, holding a total of US$48.3 million of loans (plus accrued interest) to ELI.
San Leon commissioned PetroVision Energy Services Ltd to act as San Leon's Competent Person as defined by the rules of the London Stock Exchange and to prepare an independent competent person's report to assist in the assessment of the Proposed Transactions. The OML 18 development plan comprises CAPEX costs around new wells, existing active wells, workovers (re-entries, recompletion and/or side-tracks) and facilities estimated at $151 million for NFA, $3,414 million for 1P and 2P reserves and $3,714 million for 3P reserves, further details of which are available in the Schedule.
Taking into account its current 13.18% shareholding in the Company and assuming that no additional shares are issued, Midwestern is expected, upon completion of the MLPL Reorganisation, to hold 50.82% of the Initially Enlarged Ordinary Share Capital and, upon completion of the ELI Reorganisation, this is expected to increase to 55.0% of the Fully Enlarged Ordinary Share Capital.

Today 07:05 Great Eastern Energy (GEEC)
Full Year Results Year ended 31 March 2022
https://www.investegate.co.uk/great-eas ... 05057508R/
· As announced on 8 July 2022, while both 3P and 3C numbers have increased, there has been a reduction in 1P numbers which has resulted in a higher depreciation charge as per the accounting standards.
The cash profit has gone up by 23.77% on a constant currency basis.
operations continue to grow with gas production increasing from an average of 15.18 mmscfd in FY 2021 to an average of 15.86 mmscfd in FY 2022, including choked production.
· As announced on 11 November 2021, the Company continues to focus on optimising its debt coupon rate and had been able to reduce the same from 10.32% in FY 2021 to 9.48% in the FY 2022. This has now further been reduced to 9.37% in the ongoing FY 2023.
[overall pretty flat whilst talking up effect of LNG imports on pricing]

Today 07:00 Great Eastern Energy (GEEC)
Competent Persons Report
https://www.investegate.co.uk/great-eas ... 00037477R/
is pleased to announce an upgrade in its reserves and resources at its Raniganj (South) block. The CPR has been provided by the leading independent experts, DeGolyer and McNaughton ("D&M").
§ 3P+3C+3U volume of 3,628.19 BCF, i.e. 3.63 TCF is 21.41% higher than the previously reported 2.99 TCF
§ Undiscounted value of 3P+3C+3U: $29.36 billion is 113.16% higher than the previously reported $13.78 billion
1P and 2P reserves have reduced due to delays in field development activities caused by the Covid-19 outbreak lockdowns, and the company was forced to significantly reduce the gas production by choking the production wells due to a decrease in gas offtake during that period.

Today 07:00 Enwell Energy PLC (ENW)
Quarterly Operations Update
https://www.investegate.co.uk/enwell-en ... 00057702R/
The Russian military action in Ukraine, which began on 24 February 2022, is ongoing, and has made the situation in Ukraine extremely challenging. Nevertheless, Enwell had been able to continue production and some field operations at the MEX-GOL and SV fields, and completion of the drilling of the SC-4 well at the SC licence is planned shortly. However, all operations at the VAS field (located near to Kharkiv) remain suspended due to the risks associated with the military activity near this location....
continued high hydrocarbons sales prices have helped to offset the impact on revenues during the quarter due to the lower production volumes.
Q2 production down 53% yoy
At 30 June 2022, the Company's cash resources were approximately $77.6 million, comprised of $18.6 million equivalent in Ukrainian Hryvnia and the balance of $59.0 million equivalent in a combination of US Dollars, Pounds Sterling and Euros, and at 6 July 2022, were approximately $83.8 million, comprised of $24.9 million equivalent in Ukrainian Hryvnia and the balance of $58.9 million equivalent in a combination of US Dollars, Pounds Sterling and Euros .

Today 07:00 OMV Petrom S.A. (PETB)
OMV Petrom Q2/22 Trading Update
https://www.investegate.co.uk/omv-petro ... 00058160R/
The OMV Petrom Group's results for Q2/22 will be published on July 28, 2022. In the context of an extraordinarily high Urals-Brent differential, triggered by the geopolitical context, starting Q2/22 the transfer price between Exploration & Production and Refining & Marketing is now based on Brent instead of Urals, as Urals is no longer a relevant reference.
Production down 10% yoy, prices up 74%. Refining margin $24.44 (was $4.27!!)

Today 07:00 Bowleven plc (BLVN)
Change of Partner and Operator at Etinde Licence
https://www.investegate.co.uk/bowleven- ... 00037475R/
today announces the expiry of the 30 day right of pre-emption period pertaining to New Age (African Global Energy) Limited's ('New Age's') definitive conditional agreement with a subsidiary of Perenco S.A. ('Perenco'), to transfer all of New Age's participating interests in the Etinde permit and operatorship of the Etinde JV to Perenco.
Neither LUKOIL nor Bowleven exercised their right of pre-emption over New Age's interest.

Today 07:00 Vivo Energy (VVO)
Approvals, Special Dividend & Completion Timetable
https://www.investegate.co.uk/vivo-ener ... 00037450R/
On 25 November 2021, the boards of Vivo Energy plc (the "Company" or "Vivo") and BidCo announced that they had reached agreement on the terms of a recommended cash offer for all of the issued and to be issued ordinary share capital of the Company not already owned by the Existing Vitol Shareholders....As the Effective Date is expected to occur prior to the 2022 Interim Dividend Record Date, in line with the terms of the Offer set out in the Scheme Document, the Company is pleased to declare (subject to the sanctioning of the Scheme by the Court) the 2022 Special Dividend of USD $0.02 per Vivo Share....The GBP equivalent dividend payment will be announced on or around 27 July 2022....
The Scheme remains subject to certain other Conditions, including sanction by the Court at the Court Hearing (scheduled to take place on 22 July 2022) and the delivery of a copy of the Court Order to the Registrar of Companies. Subject to the Scheme receiving the sanction of the Court and the delivery of a copy of the Court Order to the Registrar of Companies, the Scheme is expected to become effective on 25 July 2022.

Today 07:00 United Oil & Gas PLC (UOG)
Research Note on Maria
https://www.investegate.co.uk/united-oi ... 00067501R/
is pleased to note the publication of a new research note by Optiva Securities Limited on the Company's Maria discovery, located in the Outer Moray Firth Basin in the Central North Sea. In the note, Optiva Securities Limited value the Maria discovery at £33.5 million or 5.2p per share on a risked basis, or £109.1 million or 14.0p per share on an unrisked basis. The full note and valuation can be accessed using the following link: https://www.uogplc.com/wp-content/uploa ... e_2022.pdf .
[currently 1.85p, spiked yesterday]

Today 07:00 Harbour Energy PLC (HBR)
Distribution of shareholder's interest
https://www.investegate.co.uk/harbour-e ... 00067755R/
it has been notified by EIG that their notifiable interest in the Company has changed from approximately 37 per cent to approximately 16 per cent. This change reflects a distribution of EIG's shareholding in Harbour to certain of its underlying investors, rather than a sale of shares.

Today 07:00 Block Energy PLC (BLOE)
Notice of AGM
https://www.investegate.co.uk/block-ene ... 00067695R/
The AGM will be held at 11:00 a.m. on 3 August 2022 at Lansdowne House, 57 Berkeley Square, London W1J 6ER.

Yesterday 18:00 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 00067590R/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Yesterday 17:58 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 58537603R/
They bought back 7,100,000 shares at 386.152p = £27,416,780.30

Yesterday 16:36 Nostrum Oil & Gas (NOG)
Price Monitoring Extension
https://www.investegate.co.uk/nostrum-o ... 36037496R/
https://uk.finance.yahoo.com/quote/NOG.L/chart
On the day it's been in the usual range.

Yesterday 16:36 United Oil & Gas PLC (UOG)
Price Monitoring Extension
https://www.investegate.co.uk/united-oi ... 36177498R/
https://uk.finance.yahoo.com/quote/UOG.L/chart
On the day it's soared +24.1% with a spike to +24%. Over the last 2 weeks it's ended in the usual range but at one point spiked down to -27%. [research note effect?]

Yesterday 16:30 Seplat Energy PLC (SEPL)
Holding(s) in Company
https://www.investegate.co.uk/seplat-en ... 30047469R/
On 05-Jul-2022, Sustainable Capital Ltd (Moka Mauritius) increased from 6.7% to 7.79%.

Yesterday 16:30 Blofeld Inv Mgnt Ltd ()
Form 8 (OPD) - Lamprell plc
https://www.investegate.co.uk/blofeld-i ... 30047468R/
Blofeld Investment Management Limited, wholly-owned by Osama Al Sayed, has 25.04%.

Yesterday 16:05 Lamprell plc (LAM)
Form 8 (OPD) - Lamprell plc
https://www.investegate.co.uk/lamprell- ... 05447463R/
Director shareholdings

Yesterday 16:04 United Oil & Gas PLC (UOG)
Directors' Dealings
https://www.investegate.co.uk/united-oi ... 04367461R/
United Oil & Gas PLC (AIM: "UOG"), the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets announces that it has been notified today of the purchases of ordinary shares of 1p each in the Company ("Ordinary Shares"), by certain Directors of the Company, as follows:

Yesterday 15:30 TomCo Energy PLC (TOM)
Result of AGM
https://www.investegate.co.uk/tomco-ene ... 30107363R/
all resolutions were passed at the Annual General Meeting ("AGM") of the Company held earlier today.

Yesterday 14:39 Southern Energy Corp (SOUC)
COMPLETION OF FUNDRAISING AND PREMIUM TO NYMEX
https://www.investegate.co.uk/southern- ... 39277279R/
is pleased to announce the closing of its previously announced Offering to raise, in aggregate, gross proceeds of US$31.0 million through the issue of 46,371,927 new Common Shares. The Underwriters will not be exercising the over-allotment option granted to them in connection with the Offering.
The net proceeds from the Offering will be used to accelerate the initiation of a continuous organic drilling programme at the Company's Gwinville field, as well as increase the Company's financial flexibility for potential acquisition opportunities. With a multi-year drilling inventory in Gwinville alone, we look forward to realising our forward growth potential of our goal to reach 25,000 boe/d; with more drilling anticipated to begin later this year."
On June 27, 2022, the Company entered into basis swaps covering just under 40% of our physical price exposure with a natural gas basis swap transaction to secure an average premium to NYMEX of $0.39 per MMBtu from July 1, 2022 to December 31, 2022. This opportunity exists due to increased natural gas demand in the southeast Gulf States where traditionally the pricing would range between NYMEX plus or minus $0.05 per MMBtu. Strong demand in our core area is further highlighted by spot basis where our natural gas is currently selling for a $3.40 per MMBtu premium to NYMEX.
On 05 JULY 2022, DISCRETIONARY CLIENTS holding via CANACCORD GENUITY GROUP INC (VANCOUVER) increased from 0% to 5.036%.

Yesterday 14:23 SDX Energy PLC (SDX)
NOTIFICATION OF MAJOR HOLDINGS
https://www.investegate.co.uk/sdx-energ ... 23077256R/
On 07/07/2022, Al Waha Capital PJSC (Abu Dhabi) holding via Diagonal Nominees Limited reduced from 18.72% to 0.00%.

Yesterday 11:27 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 27586949R/
On 05-Jul-2022, Bank of America Corporation increased from 18.175% to 18.476%.

Hallucigenia
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Re: Hal's oily roundup

#513314

Postby Hallucigenia » July 10th, 2022, 10:49 pm

Might as well get Friday's stuff out of the way, the only vaguely interesting one is Luca Padulli showing up with 23% of SDX - not sure if that's a technical one to do with the merger/takeover or whether it's new, he's one of the UK's richest men - ex-hedgie, now one of the biggest landowners.

Friday 18:11 DCC PLC (DCC)
Holding in Company - TR1
https://www.investegate.co.uk/dcc-plc-- ... 11359200R/
On 01/07/2022, Allianz Global Investors GmbH (Frankfurt) increased from n/a% to 4.96%.

Friday 18:00 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 00019117R/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Friday 17:44 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 44189176R/
They bought back 7,100,000 shares at 389.064p = £27,623,520.30

Friday 16:43 San Leon Energy PLC (SLE)
Publication of Admission Document & Restoration
https://www.investegate.co.uk/san-leon- ... 43549070R/
the Company's Admission Document (which contains the notice of EGM) is now available to download from the Company's website at: https://www.sanleonenergy.com/. The Company's annual report and accounts for the year ended 31 December 2021 and notice of Annual General Meeting ("AGM"), which is to be held on 5 August 2022 at 11.00 a.m. at the Herbert Park Hotel, Ballsbridge, Dublin 4, Ireland, are also available to download from the Company's website...
restoration of trading in the Company's Existing Ordinary Shares on AIM is expected to become effective at 7.30 a.m. on Monday, 11 July 2022.

Friday 16:35 Pharos Energy PLC (PHAR)
Price Monitoring Extension
https://www.investegate.co.uk/pharos-en ... 35579063R/
https://uk.finance.yahoo.com/quote/PHAR.L/chart
On the day it's been in the usual range.

Friday 16:27 Afentra PLC (AET)
Notification of Major Holdings
https://www.investegate.co.uk/afentra-p ... 27409047R/
On 07/07/2022, Hadron Capital LLP (London) reduced from 3.38% to 2.93%.

Friday 16:10 SDX Energy PLC (SDX)
Holding(s) in Company
https://www.investegate.co.uk/sdx-energ ... 10459035R/
On 07/07/2022, Luca Padulli (Director) holding via Parsimony Limited (Guernsey) increased from 4.49% to 23.21%

Friday 16:08 SDX Energy PLC (SDX)
Holding(s) in Company
https://www.investegate.co.uk/sdx-energ ... 08339032R/
On 04/07/2022, Luca Padulli (Director) holding via Parsimony Limited (Guernsey) increased from 0% to 4.49%.

Friday 15:30 Harbour Energy PLC (HBR)
Replacement: Director/PDMR Shareholding
https://www.investegate.co.uk/harbour-e ... 30008944R/
Following the release earlier today of RNS 8462R t he Company was notified of a correction. The volume of indirect interests transferred has been amended from 6,328,579 to 6,328,574.[who can't tell the difference between a 4 and a 9?]

Friday 15:10 Enteq Technologies (NTQ)
Director/PDMR Shareholding
https://www.investegate.co.uk/enteq-tec ... 10348963R/
its Remuneration Committee approved a further grant of awards under the Performance Share Plan ("PSP"). ..This further grant has a vesting date of 8 July 2025. The performance conditions relate equally to the achievement of both a cumulative adjusted EBITDA target and a total shareholder return growth target.

Friday 14:17 S.N.G.N. Romgaz S.A. (SNGR)
OGMS Resolution on July 8, 2022
https://www.investegate.co.uk/s.n.g.n.- ... 17078885R/
· Resolution of the Ordinary General Meeting of Shareholders of S.N.G.N. ROMGAZ S.A. of July 8, 2022 (OGMS);
· Election of one interim board member of S.N.G.N. ROMGAZ S.A. and setting the term of his mandate;
· Approval of the extension of the term of office for the interim board members appointed by the OGMS Resolution no. 2 of February 28, 2022, by two months after the expiration date ,

Friday 13:59 S.N.G.N. Romgaz S.A. (SNGR)
Related Party Transactions art. 108 L 24 from 2017
https://www.investegate.co.uk/s.n.g.n.- ... 59108869R/
· S.N.G.N. ROMGAZ S.A. concluded 2 new transactions with the affiliated party S.C. OMV PETROM S.A.

Friday 13:11 Wood Group (John)PLC (WG.)
Publication of Circular and Notice of Meeting
https://www.investegate.co.uk/wood-grou ... 11578835R/
On 1 June 2022, John Wood Group PLC ('Wood' or the 'Company') announced that it had entered into an agreement to sell its Built Environment consulting business to WSP Global Inc. (the 'Transaction'). The Company is pleased to announce that a circular regarding the Transaction (the 'Circular') has been published today, having received approval from the UK Financial Conduct Authority. The Circular will be sent to the Company's shareholders (other than those who have elected for notification by electronic communication) shortly. The Transaction constitutes a Class 1 transaction for Wood under the Listing Rules and completion of the Transaction ('Completion') is conditional upon, among other things, the approval of Wood's shareholders at a general meeting of the Company. Accordingly, the Circular contains a notice convening a general meeting of the Company which is to be held at Sir Ian Wood House, Hareness Road, Altens, Aberdeen, AB12 3LE, Scotland at 11.00 a.m. on 3 August 2022...
The Board expects that, subject to the satisfaction and/or waiver (where applicable) of the conditions precedent to the Transaction, Completion will occur in the second half of 2022.

Friday 13:07 S.N.G.N. Romgaz S.A. (SNGR)
Related Party Transactions art.108 Law 24/2017
https://www.investegate.co.uk/s.n.g.n.- ... 07288833R/
· S.N.G.N. ROMGAZ S.A. concluded 2 new transactions with the affiliated parties S.C. OMV PETROM S.A. and S.C. E.ON ENERGIE ROMANIA S.A.

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Re: Hal's oily roundup

#513405

Postby Hallucigenia » July 11th, 2022, 11:18 am

Seplat's Exxon deal is on hold due to a legal challenge over pre-emption rights, but the shares are up today - the market is weird. Maybe making an RNS unreadable is the way to go for such announcements. Kistos complete their acquisition of 6kbpd in the UKCS from Total, dated with effect from 1 January - nice. Block continue to tick along in Georgia, Serica spud North Eigg, San Leon return from suspension.
European gas continues to go barmy, now everyone's worried that NordStream1 won't return from its summer maintenance next week.

Brent=$104.94(July)           WTI=$102.9(July,Brent-2.04)       Nymex gas=$6.31(July)   
NBP =243p(July,Nymex+22.72) TTF=€172.750(August,Nymex+44.87) JKM=$39.385(August,Nymex+33.07)

Today 10:20 Seplat Energy PLC (SEPL)
NNPC Court Action
https://www.investegate.co.uk/seplat-en ... 20200000S/
the Nigerian National Petroleum Company Limited("NNPC")commenced an action at the State High Court of the Federal Capital Territory in Abuja,Nigeria ("State HighCourt") in relation to the acquisition of the entire shares of Mobil Producing Nigeria Unlimited("MPNU")....NNPC has requested the State High Court to declare that a dispute has occurred between itself and MPNU in relation to the interpretation of pre-emption rights under their Joint Operating Agreement("JOA") and order NNPC and MPNU to arbitration as required by the JOA.
On 6 July 2022,the State High Court made an ex-parte order of interim injunction restraining the Defendants from completing any divestment in MPNU, including the Share Sale and Purchase Agreement signed with Seplat Energy
[Welcome to Nigeria. Shares seem to be taking it in their stride though. Also - someone needs a new space bar, the RNS is almost unreadable]

Today 07:30 AIM ()
Restoration - San Leon Energy plc
https://www.investegate.co.uk/aim/rns/r ... 30049160R/
Trading on AIM for the under mentioned securities was temporarily suspended. The suspension is lifted from 11/07/2022 7:30am, an admission document having been published

Today 07:00 Block Energy PLC (BLOE)
Q2 Operations Update
https://www.investegate.co.uk/block-ene ... 00059298R/
· Strong and consistent performance, with Q2:
o average production of 519 boepd (Q1: 512 boepd)
o revenue of $2,228,000 (Q1: $2,361,000)
· Cash at 30 June 2022: $1.4m (31 March 2022: $1.2m)
· Preparations for a five-well development plan, including WR-B01 sidetrack, complete and ready for execution
· Advanced discussions on non-dilutive funding for the five-well development plan to accelerate a wider drilling programme are ongoing with industry specialists

Today 07:00 Serica Energy PLC (SQZ)
Spud of North Eigg Exploration Well
https://www.investegate.co.uk/serica-en ... 00059804R/
Well 3/24c-NE1 was spudded at 04:30 this morning by the Transocean Paul B. Loyd Jr. harsh environment semi-submersible drilling rig. Serica is operator and 100% interest owner in this High Pressure, High Temperature (HPHT) exploration well targeting Upper Jurassic turbidite sands, similar to those encountered in the nearby Serica operated Rhum field.....Results of the North Eigg well are expected in mid-October and will be announced by RNS.
Our internal estimates indicate that the field could contain unrisked prospective resources (P50 recoverable) of 60 million barrels of oil equivalent. This is a 100% Serica project

Today 07:00 Kistos PLC (KIST)
Completion of Greater Laggan Area Acquisition
https://www.investegate.co.uk/kistos-pl ... 00059288R/
Kistos plc (AIM: KIST), the low carbon intensity gas producer pursuing energy opportunities in line with the energy transition, is pleased to announce the completion of the acquisition of a 20% interest in the Greater Laggan Area ("GLA") producing gas fields and associated infrastructure alongside various interests in certain other exploration licences, including a 25% interest in the Benriach prospect, from TotalEnergies S.E. ("TotalEnergies") (the "Acquisition"). The effective date of the Acquisition is 1 January 2022.
Completion of the Acquisition marks Kistos' entry into the United Kingdom Continental Shelf ("UKCS"), adding about 6,000 boe/d (net) to Kistos' production in 2022, with 2P reserves increasing by 6.2 MMboe. This substantially increases Kistos' total production base to approximately 12,000 boe/d.

Today 07:00 Touchstone Explrtn. (TXP)
TOUCHSTONE ANNOUNCES BOARD OF DIRECTOR CHANGES
https://www.investegate.co.uk/touchston ... 00069304R/
is pleased to announce the appointments of Dr. Priya Marajh and Jenny Alfandary to our Board of Directors (the "Board") with immediate effect ....Mr. Thomas Valentine has stepped down from the Board with immediate effect and will remain the Company's Corporate Secretary....
Dr. Priya Marajh is currently the Vice President - Advocacy and Member Engagement at the Energy Chamber of Trinidad and Tobago and a lecturer of various international relations courses at the University of the West Indies....
Ms. Alfandary is the President and Chief Executive Officer of Westario Power Inc.,

Today 07:00 PetroTal Corp. (PTAL)
Director Dealing
https://www.investegate.co.uk/petrotal- ... 00069291R/
Manuel Pablo Zuniga-Pflucker, Director, President and Chief Executive Officer, exercised all of his performance warrants in respect of 9,961,700 Common Shares at US$0.1869/share on July 5, 2022. The exercise represented a value of approximately US$1.9 million, and was funded on a net share basis, based on a 20-day volume weighted average trading value, thereby resulting in the acquisition by Mr. Zuniga-Pflucker of 6,997,020 new Common Shares. Additionally, Mr. Zuniga-Pflucker disposed of 6,800,000 Common Shares on July 8, 2022, at an average price of 41.3049 pence/share. The sale was primarily to fund normal course personal tax liabilities...
The Company also notes the announcement by Pareto Securities AS on July 8, 2022 in which it announced it placed 38,781,157 Common Shares by an unnamed Shareholder in the Company. The Company will provide further updates as and when information becomes available.

Today 07:00 Gran Tierra Energy (GTE)
Director/PDMR Shareholding
https://www.investegate.co.uk/gran-tier ... 00049813R/
Acquisition of Common Shares through the Company's Employee Share Savings Plan

Today 07:00 Scirocco Energy PLC (SCIR)
Notice of AGM
https://www.investegate.co.uk/scirocco- ... 00069282R/
The Company's AGM will be held at 10:30 BST on 3 August 2022 at the offices of Pinsent Masons LLP, 30 Crown Place, Earl Street, London, EC2A 4ES.

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Re: Hal's oily roundup

#513694

Postby Hallucigenia » July 12th, 2022, 11:53 am

You wait and then two bids come along on the same day. Lamprell's looks like a done deal, but Serica and Kistos are fighting over which management end up in control - annoying, I had my eye on both of them as my next purchase. Gran Tierra are very happy to have cleared their debts, the APICORP holding in Ashtead has ended up with "BP INV2 NEWCO" which if that's BP...is interesting.
Harbour's Timpan-1 exploration well at the north end of the Malacca Strait finds a load of gas, this YouTube video gives an idea of what was expected pre-drill - it potentially opens up a play of 12tcf and 400mmbbls condensate, with some LNG capability nearby.

Brent=$104.55(July)           WTI=$101.29(July,Brent-3.26)      Nymex gas=$6.5(July)   
NBP =276p(July,Nymex+26.12) TTF=€172.500(August,Nymex+44.07) JKM=$38.840(August,Nymex+32.34)

Today 09:51 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 51071641S/
On 07-Jul-2022, The Goldman Sachs Group, Inc. increased from 0.423% to 10.86%.

Today 09:30 Lamprell plc (LAM)
Update Regarding Potential Offer
https://www.investegate.co.uk/lamprell- ... 30031614S/
the Board of Lamprell PLC announces that it has received a combined non-binding indicative all cash offer to acquire the entire issued and to be issued share capital of Lamprell (the "Possible Offer") from Blofeld Investment Management ("Blofeld") and Al Gihaz Holding Company ("Al Gihaz") (together, the "Joint Bidders"). The Joint Bidders have a combined shareholding of 44.24 per cent in Lamprell.
The Joint Bidders are working as fast as possible to put forward the Possible Offer for the entire issued and to-be-issued share capital of Lamprell at a price of 9 pence per ordinary share which also includes a proposed secured bridging loan with a peak aggregate amount of USD 145 million.
The Board has concluded that should a firm offer be made on the same financial terms as the Possible Offer it would be minded to recommend it to Lamprell shareholders

Today 09:24 Serica Energy PLC (SQZ)
Statement re Possible Offer
https://www.investegate.co.uk/serica-en ... 24471605S/
The Board of Serica Energy plc ("Serica" or the "Company") notes the announcement this morning by Kistos plc ("Kistos") of a possible cash and share offer by Kistos for Serica. The proposed terms are the same as the terms outlined in a possible non-binding offer made by Kistos on 24 May 2022 that was rejected by the Serica Board on 1 June 2022 .
Serica proactively considers its strategic options and confirms that on 1 July 2022 it made a non-binding cash and share offer for the entire issued and to be issued share capital of Kistos (the "Indicative Offer"). On 8 July 2022 the Indicative Offer was rejected by the Board of Kistos.
Serica is considering its position. [SQZ up 13% to 244p, KIST up 25% to 488p]

Today 08:32 S.N.G.N. Romgaz S.A. (SNGR)
Addendum to NIP Financing Contract - CTE Iernut
https://www.investegate.co.uk/s.n.g.n.- ... 32511506S/
· Addendum concluded to the Financing Contract no. 4/ December 7, 2017 for the investment "Combined cycle CCTG power plant" - Iernut

Today 07:00 Kistos PLC (KIST)
Proposed Combination of Kistos with Serica Energy
https://www.investegate.co.uk/kistos-pl ... 00061059S/
at current market valuations, the Combined Company would rank among companies currently within the FTSE 250 index
· Accordingly, this announcement is being made by Kistos to urge Serica shareholders to encourage the Board of Serica to engage in constructive discussions with the Board of Kistos regarding the Proposed Combination
Kistos plc ("Kistos") is today announcing a proposed combination with Serica Energy plc ("Serica") (the "Proposed Combination").
The Proposed Combination comprises a possible cash and share-for-share exchange offer by Kistos for Serica, whereby Kistos would offer for each Serica share (the "Proposed Combination Terms"):
· 0.2932 new Kistos shares; plus
· cash of 246 pence,
the Proposed Combination Terms give an offer value of 382 pence per Serica share, representing a premium of:
· 25% to the closing price of 305 pence per Serica share on the Latest Practicable Date; and
Serica shareholders would own approximately 50% of the issued share capital of the combined business
While Serica has stated that its Board "can see industrial logic in combining the portfolios of the two companies", the Proposed Combination has been rejected by the Board of Serica.
After Serica had conducted due diligence, Kistos received a proposal from Serica on 1 July 2022 (the "Serica Proposal").
Under the terms of the Serica Proposal, Kistos shareholders would receive for each Kistos share:
· cash of 90 pence; plus
· 1.29 new Serica shares.
The Serica Proposal represented a premium to the closing price on 30 June 2022 (the day before the Serica Proposal) of 12% - a low premium given the effective change of control implied by the Serica Proposal, which would see Serica shareholders hold approximately 72% of the Combined Company post-transaction. As of the Latest Practicable Date, the Serica Proposal implies a value of 483 pence per Kistos share, a premium of 4% to the closing Kistos share price of 463 pence per share.

Today 07:00 GETECH Group plc (GTC)
Carbon Capture and Storage software and analytics
https://www.investegate.co.uk/getech-gr ... 00070917S/
is contracted to deploy its proprietary geospatial software and subsurface expertise to support the UK's first carbon storage licensing round.
Working with the North Sea Transition Authority (NSTA), the UK's oil, gas and carbon storage regulator, Getech has used its Exploration Analyst software product to leverage NSTA's in-house data to create strategic maps that the NSTA is using to define optimal areas for CO2 storage.

Today 07:00 Block Energy PLC (BLOE)
Completion of Minimum Work Programme
https://www.investegate.co.uk/block-ene ... 00060904S/
is pleased to announce it has received confirmation from Georgia's State Agency of Oil and Gas ("SAOG") that it has completed the minimum work programme ("MWP") in the production sharing contract ("PSC") for Block XIF, thus securing the licence to 2043. This represents a major milestone and the Company has now completed all MWP requirements across its entire licence portfolio.

Today 07:00 DCC PLC (DCC)
2022 Sustainability Report
https://www.investegate.co.uk/dcc-plc-- ... 00060861S/
DCC plc announces that its Sustainability Report for the year ended 31 March 2022 has been published. A copy of the report is available on the Company's website at: https://www.dcc.ie/investors/annual-reports/2022

Today 07:00 Diversified Energy (DEC)
Director/PDMR Shareholdings & Options Cancellation
https://www.investegate.co.uk/diversifi ... 00060923S/
announces the market purchase of ordinary shares of 1p each in the Company ("Ordinary Shares") purchased by members of Diversified's senior management team and an Executive Director on 8 July 2022. The Company also announces its agreement on 8 July 2022 to cancel certain outstanding share options previously awarded under the Company's 2017 Equity Incentive Plan.

Today 07:00 PetroTal Corp. (PTAL)
TR-1
https://www.investegate.co.uk/petrotal- ... 00060922S/
On 07/07/2022, 1 KL Special Opportunities Master Fund Ltd holding via Kite Lake Capital Management (UK) LLP increased from 12.066% to 12.181%.

Today 07:00 PetroTal Corp. (PTAL)
TR-1
https://www.investegate.co.uk/petrotal- ... 00060924S/
On 08-Jul-2022, Encompass Capital Advisors LLC increased from 6.55% to 7.71%.

Today 07:00 Predator O&G Hldgs (PRD)
Exercise of Warrants
https://www.investegate.co.uk/predator- ... 00050875S/
it has received an exercise notice from Novum Securities Limited ("Novum") in respect of warrants issued to it pursuant to warrant agreements with the Company:...The Company has therefore allotted and issued the total of 4,149,210 New Ordinary Shares following receipt of the aggregate £143,252.88 subscription price from Novum.

Yesterday 23:49 Gran Tierra Energy, Inc. (GTE)
Gran Tierra Energy Inc. Provides Operations and Financial Update
https://www.investegate.co.uk/gran-tier ... 4912H7504/
we have achieved a major milestone for the Company by completely paying off our credit. We have significantly strengthened our balance sheet by steadily reducing our credit facility balance from $207 million as of June 30, 2020, to $0 as of June 2, 2022. Gran Tierra has a strong balance sheet with cash of $109 million as of June 30, 2022...
Gran Tierra's total average production during second quarter 2022 was 30,607 BOPD, which was in-line with management expectations, and up 4% from first quarter 2022 and up 33% from second quarter 2021. This was the Company’s highest quarterly total average production since fourth quarter 2019.
Gran Tierra was able to consistently increase production during second quarter 2022 despite the temporary impact of brief intermittent farmers’ blockades in the southern Putumayo Basin. The Company believes that these blockades, since resolved, reduced the Company’s second quarter 2022 total average production by approximately 1,100 BOPD or 3.5%....
At present, the Company has no oil price hedges in place for second half 2022. Therefore, all of Gran Tierra’s oil production is receiving the full benefit of the Brent oil price which is currently above $100 per bbl.

Yesterday 18:00 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 00040837S/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Yesterday 17:14 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 14140789S/
They bought back 7,100,000 shares at 382.840p = £27,181,650.70

Yesterday 15:57 Ashtead Tech Hldgs (AT.)
Holding(s) in Company
https://www.investegate.co.uk/ashtead-t ... 57400684S/
On 05/07/2022, BP INV2 NEWCO LTD increased from 0% to 15.4%. [presumably the APICORP shares? Only director is based at Ashtead?]

Yesterday 15:42 Jersey Oil & Gas PLC (JOG)
Standard form for notification of major holdings
https://www.investegate.co.uk/jersey-oi ... 42150636S/
On 05/05/2022, Nicholas Robinson reduced from 4.71% to 4.61%

Yesterday 15:21 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 21550653S/
On 08-Jul-2022, BlackRock, Inc. reduced from 5.48% to 5.46% and adjusted their shares vs other formats.

Yesterday 14:01 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 01570494S/
On 08-Jul-2022, Madison Avenue Partners LP increased from 4.23% to 5.256%.

Yesterday 12:38 Ashtead Tech Hldgs (AT.)
Holding(s) in Company
https://www.investegate.co.uk/ashtead-t ... 38150378S/
On 07-Jul-2022, Amati Global Investors Limited increased from 0% to 5.52%.

Yesterday 11:42 Harbour Energy PLC (HBR)
Timpan exploration well result
https://www.investegate.co.uk/harbour-e ... 42320290S/
it has completed the drilling of the Timpan-1 exploration well located 150 kilometres offshore Indonesia, in a water depth of 4,245 feet...The well encountered a 390 foot gas column in a high net-to-gross, fine-grained sandstone reservoir with associated permeability of 1-10 mD. A full data acquisition programme has been completed including wireline logging, 240 feet of core recovered and a drill stem test. The well flowed on test at 27 mmscfd of gas and 1,884 bopd of associated 58 degrees API condensate through a 56/64 inch choke. While the well has encountered a material gas accumulation, further work will be required to establish commerciality and the full potential of this play across the licence.

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Re: Hal's oily roundup

#514026

Postby Hallucigenia » July 13th, 2022, 2:17 pm

I guess the big news is the Ruvuma partners looking to preempt the Wentworth/Scirocco deal, meanwhile Tullow are on track, Angus should get Saltfleetby onstream next week, Sound lost a tax case in Morocco, and 88 Energy is going bananas.

Brent=$98.84(July)               WTI=$95.65(July,Brent-3.19)      Nymex gas=$6.52(July)   
NBP =282.85p(July,Nymex+27.10) TTF=€182.450(August,Nymex+47.18) JKM=$38.630(August,Nymex+32.11)

Today 14:00 Angus Energy PLC (ANGS)
Exercise of Warrants and TVR
https://www.investegate.co.uk/angus-ene ... 00223812S/
following the receipt of Exercise Notices, it has issued 5,803,226 ordinary shares of £0.002 each in the capital of the Company at varying exercise prices of 150,000 shares at 0.9 pence per share, 5,250,000 shares at 1 pence per share and 403,226 shares at 1.2 pence per share ("New Ordinary Shares").

Today 13:07 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 07213692S/
On 08-Jul-2022, The Goldman Sachs Group, Inc. increased from 10.86% to 11.277%.

Today 13:00 Zenith Energy Ltd (ZEN)
Reactivation of Sant'Andrea concession in Italy
https://www.investegate.co.uk/zenith-en ... 00063660S/
is pleased to announce that it is finalising plans to reactivate the Sant'Andrea natural gas production concession ("Sant'Andrea" or the "Concession") located in onshore Italy, with production expected to commence in Q4 2022.
The Company plans to reactivate the S. Antonio-1 well, with an expected initial production rate of 1,300 cubic metres of natural gas per day.
Monthly fixed production costs are expected to be approximately EUR 3,000 with estimated net revenues of approximately EUR 40,000 to EUR 50,000 per month.
Zenith, via its Italian subsidiary, holds a 40% interest in the Concession. The Company's partners in Sant'Andrea have communicated that they do not intend to fund the reactivation of the Concession. Zenith will therefore receive full entitlement to the production revenue to be received from Sant'Andrea, as well as bearing the full costs associated with reactivation of the Concession (approximately EUR 20,000).

Today 12:00 ADM Energy PLC (ADME)
PetroNor acquires Aje interests from Panoro
https://www.investegate.co.uk/adm-energ ... 00033606S/
notes the announcement today that Panoro Energy ASA ("Panoro") (OSE Ticker: PEN) has completed the sale of 100% of its [6.502% participating interest, with 16.255% cost bearing interest, representing an economic interest of 12.1913%] ownership in OML 113 to PetroNor E&P Limited ("PetroNor") (OSE Ticker: PNOR)....
ADM Energy holds a 9.2% profit interest in the Aje field in OML 113, which covers an area of 835km 2 offshore Nigeria.

Today 11:32 TotalEnergies SE (TTE)
Total Voting Rights
https://www.investegate.co.uk/totalener ... 3200Z6610/
A total number of 2,800,696,579 voting rights are attached to the 2,619,131,285 underlying TotalEnergies shares (referred to as 'theoretical voting rights')

Today 11:24 S.N.G.N. Romgaz S.A. (SNGR)
Related Party Transactions art.108 L 24 from 2017
https://www.investegate.co.uk/s.n.g.n.- ... 24203532S/
· S.N.G.N. ROMGAZ S.A. concluded one new transaction with the affiliated party S.C. OMV PETROM S.A.

Today 11:18 Oilex Ltd (OEX)
Results of General Meeting
https://www.investegate.co.uk/oilex-ltd ... 18313483S/
All resolutions put to the General Meeting were decided by a poll with all resolutions passed....Further to the approval of Resolution 1, a separate announcement will be made in due course regarding the timetable for effecting the change of the Company's name to Synergia Energy Ltd under a new ticker code of 'SYN' across the two exchanges (ASX and AIM) on which the Company's shares are traded.

Today 11:00 88 Energy Limited (88E)
Price Monitoring Extension
https://www.investegate.co.uk/88-energy ... 00443424S/
https://uk.finance.yahoo.com/quote/88E.L/chart
On the day it's soared +46.1% with a spike to +78%. Over the last 2 weeks it's soared +119.1% with a spike to +167%.

Today 09:37 Tlou Energy Ltd (TLOU)
Issue of Equity
https://www.investegate.co.uk/tlou-ener ... 37583205S/
The Company announces it has issued 6,250 ordinary shares of no par value ("Ordinary Shares") following conversion of options at a price of AUD $0.08 per Ordinary Share.

Today 09:00 88 Energy Limited (88E)
Price Monitoring Extension
https://www.investegate.co.uk/88-energy ... 00313162S/
https://uk.finance.yahoo.com/quote/88E.L/chart
On the day it's soared +46.1% with a spike to +78%. Over the last 2 weeks it's soared +119.1% with a spike to +167%.

Today 08:00 OMV Petrom S.A. (PETB)
200 MyAuchan stores in Petrom filling stations
https://www.investegate.co.uk/omv-petro ... 00063002S/
OMV Petrom and Auchan Retail Romania opened 200 MyAuchan stores in Petrom filling stations, half of the total number agreed by the two partners. As of 2021, the project has been accelerated, so that it can be completed one year earlier, in 2023. This year, about 80 more proximity stores will be inaugurated in Petrom stations.

Today 08:00 Nostrum Oil & Gas (NOG)
Change to Audit Committee Chair
https://www.investegate.co.uk/nostrum-o ... 00062262S/
with effect from 13 July 2022 Mr Martin Cocker, an independent non- executive director, replaces Sir Christopher Codrington, Bt. as chairman of the Audit Committee of the Board. Sir Christopher Codrington, Bt. continues as a member of the Audit Committee and as chairman of the Nomination & Governance Committee of the Board.

Today 07:00 Tullow Oil PLC (TLW)
Trading Statement & Operational Update
https://www.investegate.co.uk/tullow-oi ... 00052431S/
· Work on the TEN Enhancement Plan, which has identified significant upside to the current 2025 production target of c.50 kbopd (gross). A development concept is currently being finalised for the project, with detailed engineering expected to start later this year.
· Ghana's gas demand is expected to continue growing strongly, supporting economic development and growth of industry. We have identified approximately 2 TCF of gas resources in Jubilee and TEN. This indigenous resource has the potential to provide energy security for Ghana, while reducing dependence on the highly competitive global LNG market. We are preparing an integrated plan for the rapid development of this material resource.
...Full year Group production guidance has been maintained at 59-65 kboepd, inclusive of incremental production from the successful pre-emption in Ghana...
The Group generated revenue, including the cost of hedging, of c.$0.8 billion in the first half of the year, with a realised oil price of c.$106/bbl before hedging and c.$87/bbl after hedging. Capital expenditure in the first half of the year was c.$155 million...
Full year capital expenditure is expected to be c.$380 million, including c.$30 million related to the additional equity interests in Ghana. Full year free cash flow1 guidance remains c.$200 million assuming an average oil price of $95/bbl.

Today 07:00 Sound Energy PLC (SOU)
Update re Sound Energy Morocco East Moroccan Tax
https://www.investegate.co.uk/sound-ene ... 00062487S/
announced on 30 September 2021 that its wholly owned subsidiary Sound Energy Morocco East Ltd ("SEME") had filed to the Moroccan Court its challenge to the remaining charges against SEME relating to the Moroccan Tax Administration's assessment of the signing in October 2018 of a brand-new petroleum agreement for exploration at Greater Tendrara...
the Moroccan Tax Administration alleged that SEME had disposed of assets to Schlumberger in entering into the New Petroleum Agreement, triggering a claimed total taxation liability for SEME of approximately US$2.55 million (the "Remaining SEME Charges"). The Company remains of the strong opinion that the Remaining SEME Charges result from an incorrect interpretation by the Moroccan Tax Administration of the entry of the New Petroleum Agreement.
SEME has now been informed that the tribunal pronounced its decision in a public hearing in respect of the Remaining SEME Charges, with the judge rejecting SEME's demand for the annulment of the prior decision
The tribunal's reasons for the decision will be available in due course. SEME will then consider the tribunal's reasons and decide what further steps it will take including but not limited to lodging an appeal.

Today 07:00 Serica Energy PLC (SQZ)
Statement re Possible Offer
https://www.investegate.co.uk/serica-en ... 00032990S/
Following the announcement by Kistos plc ("Kistos") on 12 July 2022, the Board of Serica Energy plc ("Serica" or "the Company") confirms that on 24 May 2022, it received a non-binding proposal from Kistos regarding a possible cash and share offer for the entire issued and to be issued share capital of Serica (the "Kistos Possible Offer")....
Serica sees merits in the combination of the two companies on the terms of the Serica Possible Offer:

Today 07:00 Gulf Keystone Petroleum Ltd (GKP)
Dividend Payment
https://www.investegate.co.uk/gulf-keys ... 0008ECDLN/
The payment is equivalent to 23.122 US cents per Common Share of the Company. It has been converted into pounds sterling at a rate of $1:£0.8451 prevailing on 12 July 2022, and hence a dividend of 19.540p per Common Share will be paid on 29 July 2022 to those shareholders on the register of members of the Company as at 15 July 2022.

Today 07:00 Deltic Energy PLC (DELT)
Grant of share options
https://www.investegate.co.uk/deltic-en ... 00062488S/
the Company has granted options over a total of 34,000,000 ordinary shares in the Company ("Ordinary Shares") to its Directors, senior management and employees(the "Options"). The Options have been granted at an exercise price of 2.55 pence each, being the closing mid-market price of an Ordinary Share on 12 July 2022, the latest practicable date prior to this announcement.

Yesterday 18:12 Wentworth Resources (WEN)
Potential Exercise of Ruvuma Pre-Emption Rights
https://www.investegate.co.uk/wentworth ... 12312425S/
notes today's announcement from Scirocco Energy plc ("Scirocco") in relation to the Company's proposed acquisition of the 25% non-operated working interest in the Ruvuma Production Sharing Agreement ("Ruvuma Asset") announced on 13 June 2022 (the "Proposed Acquisition")...
In the event that Pre-emption does not proceed, Wentworth remains committed to the Proposed Acquisition. No payment under the loan facility arrangement has been made to Scirocco and no consideration will be due unless the Proposed Acquisition completes....
"The discussions regarding a potential exercise of pre-emption rights by Scirocco's partners underline the compelling economics of the transaction we constructed"

Yesterday 18:10 Scirocco Energy PLC (SCIR)
Notice to Exercise Pre-emption Rights
https://www.investegate.co.uk/scirocco- ... 10042422S/
it has received formal notice from ARA Petroleum Tanzania Limited ("APT") that it is exercising its pre-emption rights with regards to Scirocco's proposed divestment of the Ruvuma asset ("Ruvuma") to Wentworth Resources plc ("Wentworth") in addition to a separate letter received from the Tanzania Petroleum Development Corporation ("TPDC") stating that it is considering exercising its statutory rights of first refusal in relation to the Ruvuma...
The Company's current expectations based on the advice received to date is that the commercial terms of the sale of Ruvuma will be the same as those agreed with Wentworth regardless of the exercise of pre-emption by partners or the sale being conducted to TPDC pursuant to any exercise of their right of first refusal. A further update will be provided in due course following completion of further discussions
Aminex, the other partner on the Ruvuma asset, continues to be entitled to exercise its own pre-emption right up until 16 July 2022.

Yesterday 18:00 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 00062378S/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Yesterday 18:00 PetroTal Corp. (PTAL)
Holding(s) in Company
https://www.investegate.co.uk/petrotal- ... 00072417S/
On 12 July 2022, Burggraben Holding AG (Zug, Switzerland) reduced from 6.97% to 0.37%.

Yesterday 17:30 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 30552385S/
They bought back 7,100,000 shares at 379.851p = £26,969,416.70

Yesterday 16:52 Capricorn Energy PLC (CNE)
Total Voting Rights
https://www.investegate.co.uk/capricorn ... 52412315S/
For the purposes of the provisions of the Disclosure and Transparency Rules, the total number of shares in the capital of the Company as at 12 July 2022 was as follows:

Yesterday 16:36 88 Energy Limited (88E)
Price Monitoring Extension
https://www.investegate.co.uk/88-energy ... 36002299S/
https://uk.finance.yahoo.com/quote/88E.L/chart
On the day it's jumped +12.5% with a spike to +33%. Over the last 2 weeks it's jumped +50% with a spike to +78%.

Yesterday 16:36 Scirocco Energy PLC (SCIR)
Price Monitoring Extension
https://www.investegate.co.uk/scirocco- ... 36042301S/
https://uk.finance.yahoo.com/quote/SCIR.L/chart
On the day it's dropped -9.7% having touched -17%. Over the last 2 weeks it's dropped -23.5% having touched -29%. [pre-emption on Ruvuma, see above]

Yesterday 16:09 Serica Energy PLC (SQZ)
Rule 2.9 Announcement
https://www.investegate.co.uk/serica-en ... 09102284S/
In accordance with Rule 2.9 of the City Code on Takeovers and Mergers, as at the close of business on 11 July 2022 (being the business day prior to the date of this announcement), Serica's issued share capital consisted of 271,938,935 ordinary shares of US$0.10 each.

Yesterday 15:36 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 36192267S/
On 08-Jul-2022, Bank of America Corporation reduced from 14.623% to 13.112%.

Yesterday 14:26 Coro Energy PLC (CORO)
Holding(s) in Company
https://www.investegate.co.uk/coro-ener ... 26072220S/
On 11/07/2022, accounts managed on a discretionary basis by Lombard Odier Investment Managers group holding via Lombard Odier Asset Management (Europe) Limited reduced from 9.29% to 2.90%.

Yesterday 14:24 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 24012219S/
On 07/07/2022, Palliser Capital (UK) Ltd increased from below 5% to 5.11%.

Yesterday 14:06 Harbour Energy PLC (HBR)
Director/PDMR Shareholding
https://www.investegate.co.uk/harbour-e ... 06071997S/
Person closely associated with R. Blair Thomas, Chairman of Harbour Energy Plc [all part of the EIG transactions, see next RNS]

Yesterday 14:04 Harbour Energy PLC (HBR)
Director/PDMR Shareholding
https://www.investegate.co.uk/harbour-e ... 04031943S/
On 8 July 2022, the Company was notified that EIG had commenced distributing some of its interest in the Company to its underlying investors (the Distribution). The Company has been notified that, as a result of the Distribution, the direct share interests of each of R. Blair Thomas, Linda Z. Cook and Steven G. Farris has changed as below.
There has been no change to the overall interest held in the Company by each of the Directors listed.

Yesterday 14:02 Harbour Energy PLC (HBR)
Holding(s) in Company
https://www.investegate.co.uk/harbour-e ... 02041937S/
On 08-Jul-2022, EIG Asset Management, LLC increased from 0% to 15.34%. [see RNS above]

Yesterday 14:00 Challenger Energy (CEG)
Price Monitoring Extension
https://www.investegate.co.uk/challenge ... 00302199S/
https://uk.finance.yahoo.com/quote/CEG.L/chart
On the day it's been in the usual range.

Yesterday 13:35 Angus Energy PLC (ANGS)
Update re Direct Subscription and Fee Share issue
https://www.investegate.co.uk/angus-ene ... 35162153S/
Further to the Company's announcement of 4 July 2022, Angus Energy Plc is pleased to announce that following receipt of the subscription funds it has now completed the subscription to raise gross proceeds of £1,000,000 through the direct subscription of 91,000,000 Ordinary Shares (the "Subscription Shares") to a group of family offices and private investors led by Aleph International Holdings (UK) Limited ("Aleph") at a price of 1.0989 pence per share, conditional only on Admission. This completes the Subscription originally announced on 24 May 2022 for a total of £6million.
In addition, the Company is also issuing 27,300,000 shares (the "Fee Shares") at a price of 1.0989 pence per share and, as previously advised, 173,1000,000 Warrants exercisable at a price of 1.0989 pence per share. The Warrants have a 3 year term from the date of issue.

Yesterday 12:12 BP PLC (BP.)
Director/PDMR Shareholding
https://www.investegate.co.uk/bp-plc--b ... 12451998S/
Looney BP ShareMatch UK Plan

Yesterday 11:48 Angus Energy PLC (ANGS)
Progress Update at Saltfleetby
https://www.investegate.co.uk/angus-ene ... 48481901S/
Progress is good and we expect to complete these tests and verifications before Monday 18 July 2022 at which time live gas can be introduced to the plant, if not before. First Gas Export into the grid (commercial sales) will be made under the offtake with Shell shortly thereafter. Anticipated production during Q3 comfortably exceeds the hedge amount as advised on 28 June 2022.

Yesterday 11:37 Trinity Exploration (TRIN)
Director/PDMR Shareholding
https://www.investegate.co.uk/trinity-e ... 37241872S/
on 11 July 2022, Jeremy Bridglalsingh [CEO], purchased 16,299 shares in the Company at a price of £0.9348 per share.

Yesterday 11:25 PAO Novatek (NVTK)
NOVATEK Reports Operating Data for 2Q22 and 1H22
https://www.investegate.co.uk/pao-novat ... 25041840S/
In the second quarter 2022, NOVATEK's hydrocarbon production totaled 156.6 million barrels of oil equivalent (boe), including 20.25 billion cubic meters (bcm) of natural gas and 2.8 million tons of liquids (gas condensate and crude oil) with total hydrocarbons production staying relatively flat as compared with the second quarter 2021. NOVATEK's hydrocarbon production totaled 316.6 million boe in the first half

Yesterday 11:00 88 Energy Limited (88E)
Price Monitoring Extension
https://www.investegate.co.uk/88-energy ... 00441808S/
https://uk.finance.yahoo.com/quote/88E.L/chart
On the day it's jumped +12.5% with a spike to +33%. Over the last 2 weeks it's jumped +50% with a spike to +78%.

Hallucigenia
Lemon Quarter
Posts: 2570
Joined: November 5th, 2016, 3:03 am
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Re: Hal's oily roundup

#514246

Postby Hallucigenia » July 14th, 2022, 11:24 am

Another day, another takeover - this time of TransGlobe by VAALCO. All share, 25% premium. 88's quarterly report is full of optimism, not sure it quite justifies the recent craziness in the shareprice but good luck to them. Pennpetro get their results out and so are restored from suspension, lot of waffle to hide the fact that they're still not producing anything. Aminex won't preempt Ruvuma.

Brent=$97.17(July)               WTI=$93.79(July,Brent-3.38)       Nymex gas=$6.63(July)   
NBP =257.49p(July,Nymex+23.90) TTF=€179.415(August,Nymex+46.11) JKM=$39.205(August,Nymex+32.57)

Today 09:30 Harbour Energy PLC (HBR)
Holding(s) in Company
https://www.investegate.co.uk/harbour-e ... 30044642S/
On 11/07/2022, Noble Group Holdings Limited (Hamilton, Bermuda) holding via Noble New Asset Co Limited increased from 0% to 8.66%.

Today 08:00 Stock Exch Notice ()
Cancellation - VALEURA ENERGY INC
https://www.investegate.co.uk/stock-exc ... 00053903S/
At the request of the Company the following securities have been cancelled from admission to trading on London Stock Exchange with effect from the time and date of this notice.

Today 07:30 Official List ()
Restoration - Pennpetro Energy Plc
https://www.investegate.co.uk/official- ... 30054635S/
The Financial Conduct Authority ("the FCA") restores the securities set out below to the Official List effective from 14/07/2022 07:30 [following publication of results yesterday]

Today 07:17 Kistos PLC (KIST)
Form 8 (OPD) - Serica Energy plc
https://www.investegate.co.uk/kistos-pl ... 17224646S/
No position to declare

Today 07:11 Kistos PLC (KIST)
Form 8 (OPD) - Kistos plc
https://www.investegate.co.uk/kistos-pl ... 11134644S/
Kistos directors own 20.41% of the company

Today 07:00 TransGlobe Energy (TGL)
Proposed Merger With VAALCO Energy, Inc.
https://www.investegate.co.uk/transglob ... 00074276S/
Today 07:00 Vaalco Energy Inc (EGY)
BUSINESS COMBINATION OF VAALCO AND TRANSGLOBE
https://www.investegate.co.uk/vaalco-en ... 00084632S/
VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) ("VAALCO") and TransGlobe Energy Corporation (TSX: TGL; NASDAQ: TGA; AIM: TGL) ("TransGlobe") (VAALCO and TransGlobe together, the "Combined Company") announced today that they have entered into a definitive arrangement agreement (the "Arrangement Agreement") pursuant to which VAALCO will acquire all of the outstanding common shares of TransGlobe in a stock-for-stock strategic business combination transaction valued at US$307 million (the "Transaction"). Under the terms of the Arrangement Agreement, VAALCO will acquire each TransGlobe share for 0.6727 of a VAALCO share of common stock, which represents a 24.9 per cent(1) premium per TransGlobe common share based on the companies' respective 30-day volume weighted average share prices as of market close on July 13, 2022. The Transaction will result in VAALCO stockholders owning approximately 54.5 percent and TransGlobe shareholders owning approximately 45.5 percent of the Combined Company.
o Combined 2022 mid-point production guidance of 19,100 barrels of oil equivalent per day (" boepd ") on a net revenue interest ("NRI") (96 per cent oil & liquids) basis across Egypt, Gabon and Canada and 24,400 boepd on a working interest ("WI") basis(2);
o Combined proved (1P) reserves on an NRI basis of 32 million barrels of oil equivalent ("MMboe") (92 per cent oil) and 41 MMboe on a WI basis (92 per cent oil) (as at January 1, 2022 in the case of VAALCO and as at December 31, 2021 in the case of TransGlobe)(2); and
o Combined proved plus probable (2P) reserves on an NRI basis of 51 MMboe (90 per cent oil) and 66 MMboe (91 per cent oil) on a WI basis (as at January 1, 2022 in the case of VAALCO and as at December 31, 2021 in the case of TransGlobe)(2);
· The Combined Company will be in a net cash(3) position, with US$53 million in combined net cash as of March 31, 2022 (prior to the receipt of US$44.6 million in April 2022 from VAALCO's March 2022 lifting), and have operational free cash flows to underpin sustainable stockholder returns and growth while maintaining sufficient liquidity and a continued robust balance sheet;
The Combined Company will continue to be led by George Maxwell as Chief Executive Officer and Ron Bain as Chief Financial Officer,
· VAALCO's shares will continue be listed on the NYSE and are intended to be readmitted to trading on the Standard Segment of the LSE, both under the ticker symbol "EGY"; and
· VAALCO intends to apply for the cancellation of trading of TransGlobe's shares on AIM, and the delisting of TransGlobe's shares from the TSX and TransGlobe's shares will be delisted from the Nasdaq.

Today 07:00 88 Energy Limited (88E)
Quarterly Report and Appendix 5B
https://www.investegate.co.uk/88-energy ... 00084625S/
· Completed in-depth petrophysical re-evaluation of Icewine-1 and the broader Icewine East acreage, with results indicating comparable, or better, reservoir quality in some reservoir units relative to those of Pantheon's tested intervals which flowed oil.
Project Longhorn (~73% WI)
· Production (~70% oil) has increased over 70% since acquisition in mid-February 2022
· Successful completion of two work-overs, with three of seven planned for 2022 now completed.
· Quarterly cash flow distribution of A$1.3M received in June 2022.
Given the favourable petrophysical comparison between Icewine-1 and Alkaid-1, the Company is optimistic that a production test in the Icewine East acreage could potentially yield a similar or better result than seen during the testing of Alkaid-1.
At quarter end, the Company had cash reserves of A$10.5M and no debt.

Today 07:00 Serinus Energy PLC (SENX)
Director/PDMR Shareholding
https://www.investegate.co.uk/serinus-e ... 00084140S/
Jeffrey Auld, Chief Executive Officer of the Company, purchased on 13 July 2022 an aggregate of 98,000 Ordinary Shares in the Company at an average price of 9.2 pence per Ordinary Share. Following the purchase, Mr. Auld 's total shareholding in the Company comprises 488,875 Ordinary Shares, representing 0.4286% per cent of the Issued Share Capital of the Company.

Today 07:00 Baron Oil PLC (BOIL)
Grant of Share Options
https://www.investegate.co.uk/baron-oil ... 00084128S/
Baron has granted Dr Butler Share Options over 175,000,000 ordinary shares...at an exercise price of 0.07p...The exercise of these non-transferable Share Options is subject to Baron's Share Dealing Code, have a three-year life from the date of grant and will only vest up on Baron making an announcement that the first appraisal well on the Chuditch PSC has spudded save for certain limited circumstances such as a takeover event.

Yesterday 18:37 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 37264064S/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Yesterday 18:00 Harbour Energy PLC (HBR)
Holding(s) in Company
https://www.investegate.co.uk/harbour-e ... 00054023S/
On 07-Jul-2022, The Leona M. and Harry B. Helmsley Charitable Trust (New York) increased from 0% to 4.18%.

Yesterday 17:56 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 56554054S/
They bought back 7,100,000 shares at 377.847p = £26,827,117.40

Yesterday 16:35 88 Energy Limited (88E)
Price Monitoring Extension
https://www.investegate.co.uk/88-energy ... 35523937S/
https://uk.finance.yahoo.com/quote/88E.L/chart
On the day it's soared +40.7% with a spike to +78%. Over the last 2 weeks it's soared +111.1% with a spike to +167%.

Yesterday 16:35 United Oil & Gas PLC (UOG)
Price Monitoring Extension
https://www.investegate.co.uk/united-oi ... 35323933S/
https://uk.finance.yahoo.com/quote/UOG.L/chart
On the day it's jumped +11.6% with a spike to +15%. Over the last 2 weeks it's up +17.8%.

Yesterday 16:23 Aminex PLC (AEX)
Ruvuma PSA
https://www.investegate.co.uk/aminex-pl ... 23513928S/
The Company is very pleased that the operator of Ruvuma, APT, wishes to increase its participating interest in Ruvuma and that the TPDC is interested in having a participating interest in the asset, both confirming our long-held conviction in the quality of the Ruvuma asset. The Company's wholly owned subsidiary, Ndovu Resources Limited, does not intend to exercise its pre-emption rights under the Ruvuma joint operating agreement.

Yesterday 15:44 San Leon Energy PLC (SLE)
Posting of documents
https://www.investegate.co.uk/san-leon- ... 44333904S/
further to the Company's announcement concerning the " Publication of Admission Document & Restoration " on 8 July 2022, the Company's Admission Document (which contains the notice of EGM) along with the Company's annual report and accounts for the year ended 31 December 2021 and notice of AGM has now been posted to San Leon's shareholders.

Yesterday 14:53 Pennpetro Energy PLC (PPP)
Results for the year ended 31 December 2021
https://www.investegate.co.uk/pennpetro ... 53343857S/
[Finally got them out. Ooh, we've got a waffler though.]
all our operations are in highly active plays where the economics of drilling and producing remain attractive at sub-US$30 oil prices.
The financial results for the year ended 31 December 2021 show a loss after tax of US$1,311,707 (2020: loss US$1,046,512).
The Group's borrowings at 31 December 2021 were US$4,256,262 (2020: US$3,727,995). In addition, as reported in the prior year, the repayment date for the loan facility with Petroquest Energy Limited was extended a further year to 31 December 2023.
The Group had cash balances at 31 December 2021 of US$1,828 (2020: US$1,329) and short-term investments of US$34,914 (2020: US$49,152).
As at 31 December 2021, the Group had US$878,000 (2020 US$1.1m) still available to draw under its loan facility of US$5m with Petroquest Energy Limited.

Yesterday 14:52 Southern Energy Corp (SOUC)
NOTIFICATION OF MAJOR HOLDINGS
https://www.investegate.co.uk/southern- ... 52063855S/
On 08 JULY 2022, discretionary clients of CANACCORD GENUITY GROUP INC (VANCOUVER) reduced from 5.036% to 4.07%.

Yesterday 14:39 Coro Energy PLC (CORO)
Director/PDMR Shareholding
https://www.investegate.co.uk/coro-ener ... 39533845S/
today Mark Hood, Chief Executive Officer, purchased 3,694,889 shares in the Company at a price of 0.274 pence per share.

Hallucigenia
Lemon Quarter
Posts: 2570
Joined: November 5th, 2016, 3:03 am
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Re: Hal's oily roundup

#514554

Postby Hallucigenia » July 15th, 2022, 11:34 am

No takeovers today, just a Total update - refining margins up 15x yoy but production off a bit due to security issues in Nigeria and Libya. SDX have one good well, one less good well. Curzon/PET deal continues to drag on. DCC trading update positive, TomCo get a tax break.

Brent=$99.72(July)               WTI=$95.97(July,Brent-3.75)       Nymex gas=$6.58(July)   
NBP =222.75p(July,Nymex+19.78) TTF=€169.500(August,Nymex+43.31) JKM=$39.215(August,Nymex+32.64)

Today 10:30 Harbour Energy PLC (HBR)
Correction: Holding(s) in Company
https://www.investegate.co.uk/harbour-e ... 30046533S/
On 07-Jul-2022, The Leona M. and Harry B. Helmsley Charitable Trust increased from 0% to 4.175%. [was 4.18%]

Today 10:19 Gulf Keystone Petroleum Ltd (GKP)
Shaikan Payments Update
https://www.investegate.co.uk/gulf-keys ... 1930EEDAE/
a gross payment of $48.7 million ($38.1 million net to GKP) has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil sales during April 2022

Today 08:04 TotalEnergies SE (TTE)
TotalEnergies: Second Quarter 2022: Main Indicators
https://www.investegate.co.uk/totalener ... 0400Z0313/
[European refining margins up from $10.2/t to $145.7/t]
Upstream production is expected to be 0.1 Mboe/d lower than in the first quarter, mainly due to disruptions in Nigeria and Libya for security reasons, as well as a higher volume of planned maintenance

Today 07:01 SDX Energy PLC (SDX)
UPDATE ON TESTING OF GAS DISCOVERY AT MA-1X WELL
https://www.investegate.co.uk/sdx-energ ... 01045728S/
The MA-1X (SDX WI: 67%) discovery, announced on 8 June, is currently in the process of being tested. As expected, the well test showed good flow rates of c. 8.0 MMscf/d commensurate with the high quality Kafr El Sheikh Formation reservoir around the well bore, which has an average porosity of 31.9%. However, the well-head pressure decline observed over a three-day production test was higher than expected, which could indicate that a lower volume of gas is connected to the MA-1X well bore compared to pre-drill estimates. Whilst this does not change the Company's estimate of overall gas in place in the discovery, it may indicate that there is a change in facies closer than expected to the MA-1X well bore that could be compartmentalising the gas to some extent.

Today 07:00 SDX Energy PLC (SDX)
COMPLETION OF DRILLING AT MSD-23 WELL, WEST GHARIB
https://www.investegate.co.uk/sdx-energ ... 00055726S/
is pleased to announce the completion of drilling at the MSD-23 infill development well on the Meseda field in its West Gharib concession, Egypt (SDX: 50% working interest). MSD-23 encountered the primary top Asl Formation reservoir at 3,909 feet MD (3,112 feet TVDSS) and reached a TD of 4,449 feet MD on 10 July. The well encountered 131.5 feet of good-quality, net oil pay sandstone, with an average porosity of 24.1% in the Asl Formation reservoir. The net pay was split across 3 separate sand units, with the upper-most sand covering 7 feet of net pay with 27.4% porosity. This upper oil-bearing sand is at virgin pressure meaning that it has not been depleted by any surrounding wells and it also represents an unanticipated upside as it was not included in pre-drill estimates. MSD-23 will now be tied-in to the existing facilities and flow tested.

Today 07:00 Curzon Energy plc (CZN)
Transaction Update
https://www.investegate.co.uk/curzon-en ... 00045578S/
Curzon and PET continue active discussions regarding the potential extension of PET's exclusivity rights which, through an existing agreement announced on 23 February 2022 and series of payments to the Company, PET can formally extend through 30 September 2022. The goal of this exclusivity period remains the agreement of a potential transaction, which contemplates a reverse takeover of Curzon by PET.

Today 07:00 DCC PLC (DCC)
AGM Update
https://www.investegate.co.uk/dcc-plc-- ... 00055695S/
DCC again delivered strong growth in the seasonally less significant first quarter of the year ending 31 March 2023. Group operating profit was in line with expectations and well ahead of the prior year, driven by strong growth in DCC Energy. DCC Healthcare traded robustly and in line with expectations. DCC Technology recorded strong growth, benefitting from the first-time contribution of the acquisition of Almo.

Today 07:00 TomCo Energy PLC (TOM)
Granting of Utah Tax Credit to Greenfield
https://www.investegate.co.uk/tomco-ene ... 00055727S/
is pleased to announce that the Company's wholly owned subsidiary, Greenfield Energy LLC ("Greenfield") has been awarded a 10 year marginal tax reduction, with a potential aggregate value of up to approximately US$76.3 million, in relation to its planned project activities on the Tar Sands Holdings II LLC ("TSHII") site located in the Uinta Basin, Utah, United States. This post-performance corporate incentive is part of the Utah Legislature's Economic Development Tax Increment Financing ("EDTIF") programme.

Today 07:00 Predator O&G Hldgs (PRD)
Admission of Shares
https://www.investegate.co.uk/predator- ... 00055711S/
Following Admission, the Company has shares of no par value in issue, each with one vote per share (and none of which are held in treasury). The total number of voting rights in the Company is therefore 308,595,477.

Today 07:00 Falcon Oil & Gas Ltd. (FOG)
Falcon Oil & Gas Ltd. - Results of Annual General & Special Shareholders Meeting
https://www.investegate.co.uk/falcon-oi ... 0000H4646/
All resolutions considered and voted upon by the shareholders at the meeting, being the election of directors, appointment of auditors and approval of the Stock Option Plan, were approved.

Yesterday 18:30 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 30485650S/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Yesterday 18:00 Zenith Energy Ltd (ZEN)
Investor Call - August 23, 2022
https://www.investegate.co.uk/zenith-en ... 00055659S/
is pleased to announce that it will hold an investor and analyst conference call on August 23, 2022, at 10:00 AM BST/11:00 AM CEST via teleconference (the "Investor Call").
The Investor Call will commence with the management team providing an update on the Company's recent activities and running through an updated corporate presentation (to be made available for download on the morning of August 23, 2022, at http://www.zenithenergy.ca ) and will conclude with the answering of questions submitted prior to the Investor Call.

Yesterday 17:33 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 33155624S/
They bought back 8,500,000 shares at 367.490p = £31,236,622.50

Yesterday 17:09 Scirocco Energy PLC (SCIR)
Ruvuma Disposal Update
https://www.investegate.co.uk/scirocco- ... 09525590S/
Scirocco Energy (AIM: SCIR) notes the announcement issued by Aminex PLC on 13 July 2022 which stated that its wholly owned subsidiary, Ndovu Resources Limited, does not intend to exercise its pre-emption rights under the Ruvuma joint operating agreement...
in response to certain Shareholder queries, Scirocco also confirms that should the Facility not be repaid by the Repayment Date, then the price at which Wentworth (or another party assuming the position of Wentworth) may convert all or part of the Facility into fully paid Ordinary Shares (subject to applicable laws and regulations) is equal to the closing VWAP of the Ordinary Shares on the trading date prior to date of conversion, following the issue of a conversion notice by Wentworth

Yesterday 16:46 EnQuest PLC (ENQ)
Director/PDMR Shareholding
https://www.investegate.co.uk/enquest-p ... 46325552S/
extended family of Amjad Bseisu buys £500k

Yesterday 16:36 Nostrum Oil & Gas (NOG)
Price Monitoring Extension
https://www.investegate.co.uk/nostrum-o ... 36075540S/
https://uk.finance.yahoo.com/quote/NOG.L/chart
On the day it's been in the usual range.

Yesterday 16:35 Hurricane Energy PLC (HUR)
Price Monitoring Extension
https://www.investegate.co.uk/hurricane ... 35495539S/
https://uk.finance.yahoo.com/quote/HUR.L/chart
On the day it's been in the usual range.

Yesterday 14:23 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 23365304S/
On 12-Jul-2022, Bank of America Corporation increased from 13.112% to 13.692% and adjusted their shares vs other formats.

Yesterday 13:56 Reabold Resources (RBD)
Holding(s) in Company
https://www.investegate.co.uk/reabold-r ... 56045257S/
On 12-Jul-2022, Premier Miton Group plc reduced from 10.56% to 9.943%.

Yesterday 12:38 S.N.G.N. Romgaz S.A. (SNGR)
Related Party Transactions art108 Law 24 from 2017
https://www.investegate.co.uk/s.n.g.n.- ... 38355161S/
· S.N.G.N. ROMGAZ S.A. concluded one new transaction with the affiliated party S.C. ENGIE ROMANIA S.A.

Yesterday 12:00 Kistos PLC (KIST)
Form 8 (OPD) - Kistos plc
https://www.investegate.co.uk/kistos-pl ... 00065092S/
The Directors of Kistos plc have the following interests in Kistos plc ordinary shares, which in aggregate represent approximately 20.41% of the issued ordinary share capital of Kistos plc.

Yesterday 12:00 Kistos PLC (KIST)
Form 8 (OPD) - Serica Energy plc
https://www.investegate.co.uk/kistos-pl ... 00515095S/
· The Directors of Kistos plc have the following interests in Serica Energy plc ordinary shares, which in aggregate represent approximately 0% of the issued ordinary share capital of Serica Energy plc.

Yesterday 10:38 IOG PLC (IOG)
Issue of Equity
https://www.investegate.co.uk/iog-plc-- ... 38024866S/
has issued 87,968 ordinary shares of 1 penny each in the capital of the Company ("Ordinary Shares"), following the exercise by a former IOG director of the same number of options pursuant to a Salary Sacrifice Share Option agreement

Hallucigenia
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Re: Hal's oily roundup

#515164

Postby Hallucigenia » July 18th, 2022, 1:37 am

Might as well get Friday's out of the way, just so we can give full attention to the reasons why the Challenger CFO might have resigned abruptly after hours on a sunny Friday afternoon, without a successor arranged when the accounts are already late. No good can possibly come of this.

Wildcat have been dropping of late, they're a shell looking for assets in Angola/Namibia that they can use to back blockchain assets. I'm guessing the blockchain bit is now less fashionable than when they floated 18 months ago...

Also notable that Premier Miton seem to be reducing their exposure across the sector - Reabold and Lamprell in recent days, now halving their stake in Quadrise. Might be one to look for on the shareholder register of other companies.

Friday 18:30 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 30017134S/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Friday 17:40 Quadrise Fuels Intnl (QFI)
Holding(s) in Company
https://www.investegate.co.uk/quadrise- ... 40317139S/
On 14-Jul-2022, Premier Miton Group plc reduced from 8.77% to 4.969%.

Friday 16:53 Challenger Energy (CEG)
Resignation of CFO
https://www.investegate.co.uk/challenge ... 53307073S/
Mr Timothy Eastmond has resigned as a Director and the Chief Financial Officer of the Company. Mr Eastmond has resigned for personal reasons, and his resignation will take effect immediately. The Company's Chief Commercial Officer, Mr Gagan Khurana, will assume the role of Acting Chief Financial Officer, pending an executive search for a suitable permanent replacement....
Mr Eastmond currently holds 160 million options...the options have thus not been exercised, and will therefore lapse on cessation of Mr Eastmond's employment....
We wish Tim well in his future endeavours, and we thank him for his service in his time at Challenger. We are pleased to have someone of Gagan's caliber on staff who can capably step into the CFO role on an acting basis. His primary task in this role, while we work on recruiting a permanent replacement, will be to ensure a smooth process in relation to the finalisation of the Company's ongoing group audit and annual reporting process

Friday 16:35 Wildcat Petroleum (WCAT)
Price Monitoring Extension
https://www.investegate.co.uk/wildcat-p ... 35377054S/
https://uk.finance.yahoo.com/quote/WCAT.L/chart
On the day it's dropped -18.2% having touched -27%. Over the last 2 weeks it's down -25%.

Friday 16:08 Serica Energy PLC (SQZ)
TR-1: Notification of major holdings
https://www.investegate.co.uk/serica-en ... 08507034S/
On 14/07/202 2, BlackRock, Inc. reduced from 5.02% to below 5%.

Friday 15:52 DCC PLC (DCC)
Result of AGM
https://www.investegate.co.uk/dcc-plc-- ... 52247021S/
DCC plc announces that, at the Annual General Meeting held earlier today, all ordinary and special resolutions were duly passed.
Voting on all resolutions was conducted by way of a poll and the results are available at http://www.dcc.ie/investors/shareholder ... al-meeting .

Friday 14:00 Wildcat Petroleum (WCAT)
Price Monitoring Extension
https://www.investegate.co.uk/wildcat-p ... 00236931S/
https://uk.finance.yahoo.com/quote/WCAT.L/chart
On the day it's dropped -18.2% having touched -27%. Over the last 2 weeks it's down -25%.

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Re: Hal's oily roundup

#515497

Postby Hallucigenia » July 19th, 2022, 12:28 am

Hallucigenia wrote:Also notable that Premier Miton seem to be reducing their exposure across the sector - Reabold and Lamprell in recent days, now halving their stake in Quadrise. Might be one to look for on the shareholder register of other companies.

And there we have it, NTOG get round to announcing a sale by PM from last week, looks like selling 1.152% of the company knocked the price down 10% or so, real lobster-pot stuff.
Blofeld really embracing the Bond theme with their vehicle for the Lamprell deal being Thunderball Investments, they have 44% now. Whereas Aleph and a group representing 26% of SDX are going to vote against their merger with Tenaz and are hinting at taking more direct involvement. Classic RNS where a dull title ("UPDATE ON EQUITY OWNERSHIP OF THE COMPANY") hides a big excitement for shareholders. Aleph are also involved in financing Saltfleetby, which will see live gas on Friday, so perhaps that's releasing some funds for them? Trinity had a solid enough trading update, Oilex' refrac has been delayed by the monsoon, 88 continue to rise, Harbour are the unlucky ones to get kicked out of the FTSE by GSK demerging their Sensodyne-to-Nicorette consumer company. Sorry for the delay today, was away from the computer.

Brent=$106.47(July)             WTI=$102.79(July,Brent-3.68)     Nymex gas=$7.5(July)   
NBP =203.5p(July,Nymex+16.82) TTF=€157.258(August,Nymex+39.30) JKM=$36.595(September,Nymex+29.09)

Today 18:05 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 05368792S/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.

Today 18:00 FTSE Russell ()
GSK
https://www.investegate.co.uk/ftse-russ ... 00058801S/
Further to the FTSE notice released on 11 July 2022 in relation to GSK (UK): Demerger of Haleon (UK), please note the index changes as a result :
Harbour Energy (UK, BMBVGQ3) will be deleted from the FTSE 100 index and added to the FTSE 250 Index. All changes are effective from 21 July 2022.

Today 17:33 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 33168775S/
They bought back 7,500,000 shares at 385.094p = £28,882,037.00

Today 17:30 FTSE Russell ()
Vivo Energy
https://www.investegate.co.uk/ftse-russ ... 30038510S/
Vitol takeover of Vivo should complete on Monday so it drops out of indices.

Today 17:11 Trinity Exploration (TRIN)
Block Listing Return
https://www.investegate.co.uk/trinity-e ... 11008740S/

Today 16:11 EnQuest PLC (ENQ)
Director/PDMR Shareholding
https://www.investegate.co.uk/enquest-p ... 11298660S/
Double A Limited is a company beneficially owned by the extended family of Amjad Bseisu :
i) Purchase of 1,475,806 ordinary shares
ii) Purchase of 1,040,063 ordinary shares

Today 15:32 Angus Energy PLC (ANGS)
Progress Update at Saltfleetby
https://www.investegate.co.uk/angus-ene ... 32018635S/
Input/ output testing on the remaining electrically powered systems including re-boilers, switchgear, air compressors and lighting is expected to conclude on Wednesday (20th July) when system-wide testing of the SCADA begins.
We expect to introduce live gas as far as the test separator on Friday (22nd July) as part of the commissioning schedule and will advise further on a precise date for export and nominations thereafter.

Today 14:37 Angus Energy PLC (ANGS)
Directorate Change
https://www.investegate.co.uk/angus-ene ... 37288544S/
Paul Forrest has now joined the Board of the Company as a non-executive director. Mr. Forrest brings broad hydrocarbon and financial experience as well as intimate knowledge of the Company's Saltfleetby gas field. Paul Forrest, is the owner and sole director of Forum Energy Services Limited, which sold 100% of Saltfleetby Energy Limited to Angus in May 2022 and which presently has a substantial strategic stake in Angus of approximately 21%....He is the former financial controller of AIM traded Forum Energy Plc and Celtic Resources Plc.

Today 14:00 88 Energy Limited (88E)
Price Monitoring Extension
https://www.investegate.co.uk/88-energy ... 00398514S/
https://uk.finance.yahoo.com/quote/88E.L/chart
On the day it's up +8.1% with a spike to +31%. Over the last 2 weeks it's jumped +74.2% with a spike to +111%.

Today 10:47 Gulf Keystone Petroleum Ltd (GKP)
Bond Redemption Notice
https://www.investegate.co.uk/gulf-keys ... 4729EJIQO/
Further to Gulf Keystone’s recent announcement of its intention to call the outstanding $100 million bond, the Company confirms that today it has sent a written notice to Nordic Trustee AS, the trustee for the Company's bond with ISIN NO 001 0828106, that it will be exercising its call option and redeeming the bond.

Today 09:56 Investec Wealth & Investment L ()
Rule 8.3 - Kistos Plc
https://www.investegate.co.uk/investec- ... 5640H5060/
Investec Wealth & Investment Limited have 5.72% of Kistos

Today 09:34 Oilex Ltd (OEX)
Cambay C-77H Re-frac Operations Update No2
https://www.investegate.co.uk/oilex-ltd ... 34487906S/
All of the equipment necessary for the re-frac operation has arrived onsite with the exception of the coiled tubing unit (CTU) which has been delayed by monsoon season related rain. The CTU is expected to arrive onsite tomorrow after which the initial stage of the re-fraccing operation, perforating the zones to be hydraulically fractured, will commence. The actual fraccing operation is anticipated to last 7 days and will be followed by flow-back and testing. We currently expect to be able to announce the results of the re-frac operation in August 2022.

Today 08:30 Blofeld Inv Mgnt Ltd ()
Form 8 (OPD) - Lamprell plc
https://www.investegate.co.uk/blofeld-i ... 30057857S/
Thunderball Investments Limited, a newly incorporated company to be directly owned by joint offerors: (i) Blofeld Investment Management; and (ii) AlGihaz Holding Company Limited.
Blofeld has 25.05%, Sami AlAngari of AlGihaz has 19.19%

Today 07:04 Woodside Energy Grp. (WDS)
Director/PDMR Shareholding
https://www.investegate.co.uk/woodside- ... 04307789S/
Executive Vice President Australian Operations sells A$214k

Today 07:00 Trinity Exploration (TRIN)
Q2 2022 Operational Update
https://www.investegate.co.uk/trinity-e ... 00077266S/
The Company maintained robust production and benefitted from a stronger realised oil price in Q2, when compared to Q1, leading to a 25% increase in operating cash flow pre-tax and pre-hedging. In addition to continuing the programme of recompletions and workovers which kept production stable, during June drilling operations commenced on the first well of the planned six well campaign.
o Q2 2022 production volumes averaged 3,093 bopd (Q1 2022: 3,013 bopd; Q2 2021: 3,047 bopd).
· Net average production guidance for 2022 remains 2,900-3,100 bopd (before the impact of the drilling programme and/or acquisitions) (2021: 3,006 bopd).
· Q2 2022 average realisation of US$96.8/bbl (Q2 2021: US$59.4/bbl).
· Operating cash flow pre-tax and pre-hedging of US$6.9m (unaudited), an increase of 25% compared to the previous quarter (Q1 2022: US$5.5m).
· Cash balance of US$15.0m (unaudited) as at 30 June 2022
· Average operating break-even for Q2 2022 was US$31.3/bbl (unaudited) (Q2 2021: US$27.8/bbl (unaudited).
Having commenced drilling on the first of the six planned onshore wells, the near-term focus is on completing the 2022 drilling programme safely, on time and on budget, and bringing these wells onto production in short order. It is expected that the 4 low angle wells will be producing before this year ends, with each contributing to a meaningful increase in the daily production rate by the end of 2022. Production is anticipated to continue to increase into Q1 2023 subject to successful outcomes for the horizontal well and deeper well, the combination of which is projected to underpin a material increase in operating cash flow for 2023, for which no hedging instruments are in place....
Having commenced drilling on the first of the six planned onshore wells, the near-term focus is on completing the 2022 drilling programme safely, on time and on budget, and bringing these wells onto production in short order. It is expected that the 4 low angle wells will be producing before this year ends, with each contributing to a meaningful increase in the daily production rate by the end of 2022. Production is anticipated to continue to increase into Q1 2023 subject to successful outcomes for the horizontal well and deeper well, the combination of which is projected to underpin a material increase in operating cash flow for 2023, for which no hedging instruments are in place....
he Ministry of Energy and Energy Industries has recently launched the 2022 Onshore and Nearshore Competitive Bid Round, which Trinity plans to evaluate and may participate if we identify attractive opportunities."

Today 07:00 SDX Energy PLC (SDX)
UPDATE ON EQUITY OWNERSHIP OF THE COMPANY
https://www.investegate.co.uk/sdx-energ ... 00077291S/
has been advised in a letter from Aleph Commodities Limited ("Aleph") dated 16 July 2022, that Aleph on behalf of itself and other parties, hold 25.65% of the issued share capital of the Company....
· "The group of shareholders led by Aleph intends to vote against the recommended all-share combination with cash alternative between Tenaz and SDX ...
· "Aleph welcomes the opportunity to engage with management and the Board of Directors to explore opportunities to provide financial, commercial and technical support to SDX to ensure the growth of the Company and its production base, with minimal dilution." [down 4%]

Today 07:00 Falcon Oil & Gas Ltd. (FOG)
Falcon Oil & Gas Ltd. - Investor Presentation
https://www.investegate.co.uk/falcon-oi ... 0000H4995/
Philip O’Quigley, Falcon’s CEO, will provide a live presentation following its Annual General and Special meeting last week with a Q&A via the Investor Meet Company platform on 21 July 2022 at 4:00pm BST.

Today 07:00 Nostra Terra O&G Co (NTOG)
Holding(s) in Company
https://www.investegate.co.uk/nostra-te ... 00047242S/
On 14-Jul-2022, Premier Miton Group plc reduced from 10.92% to 9.768%.

Today 07:00 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 00077245S/
They bought back 8,000,000 shares at 373.254p = £29,860,304.00

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Re: Hal's oily roundup

#515590

Postby Hallucigenia » July 19th, 2022, 11:20 am

Afentra acquire another chunk of their Angola block at $4/bbl 2P, Predator are excited about their new well in Morocco which does look interesting even if CNG is not the first choice of commercialisation, Hurricane and Challenger are ticking along.

Brent=$105.74(July)             WTI=$102.28(July,Brent-3.46)      Nymex gas=$7.53(July)   
NBP =219.5p(July,Nymex+18.87) TTF=€162.875(August,Nymex+41.44) JKM=$36.595(September,Nymex+29.06)

Today 11:02 TotalEnergies SE (TTE)
Algeria: TotalEnergies Signed a New Production Sharing Contract with Sonatrach in the Berkine Basin
https://www.investegate.co.uk/totalener ... 0200Z2901/
signed today with Sonatrach, Occidental and Eni an extension of its Production Sharing Contract for a period of 25 years for onshore Blocks 404a and 208 in the Berkine basin, in Eastern Algeria.[historically their oil blocks in Algeria]

Today 11:00 Nostra Terra O&G Co (NTOG)
Price Monitoring Extension
https://www.investegate.co.uk/nostra-te ... 00309747S/
https://uk.finance.yahoo.com/quote/NTOG.L/chart
On the day it's dropped -9.5% having touched -12%. Over the last 2 weeks it's down -17.6%.

Today 10:00 TotalEnergies SE (TTE)
United Arab Emirates: TotalEnergies and ADNOC Expand Strategic Alliance
https://www.investegate.co.uk/totalener ... 0000Z2841/
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and Abu Dhabi National Oil Company (ADNOC) have signed a strategic partnership agreement that aims to jointly evaluate new growth opportunities in the following areas:
development of oil and gas projects in the UAE to ensure sustainable energy supply to the markets and contribute to global energy security;
supply of diesel from the UAE to France;
prospects for a commercial carbon capture, utilization, and storage (CCUS) project in the UAE.

Today 08:51 Afentra PLC (AET)
Afentra acquires additional interests in Angola
https://www.investegate.co.uk/afentra-p ... 51409531S/
is pleased to announce that its wholly-owned subsidiary, Afentra (Angola) Ltd, has signed a Sale and Purchase Agreement ('SPA') with INA - Industrija Nafte, d.d. to acquire a 4% interest in Block 3/05 and a 5.33% interest1 in Block 3/05A, offshore Angola (the "INA Transaction"). This transaction builds upon the acquisition of a 20% interest in Block 3/05 from Sonangol announced in April 2022 (the "Sonangol Acquisition"). The INA Acquisition has an effective date of 30th September 2021.
· Block 3/05
o Initial consideration of $9 million
o Additional consideration of $10 million, payable upon licence extension [expected to be granted in Q3/Q4 2022.]
o Contingent consideration of up to $6 million over 3 years, subject to certain oil price hurdles and an annual cap of $2 million
· Block 3/05A - Acquisition of 5.33% interest in a license adjacent to Block 3/05, providing the opportunity to tie back existing discoveries to the Block 3/05 infrastructure
o Initial consideration of $3 million
o Contingent consideration of up to $5 million linked to the successful future development of certain discoveries and oil price hurdles
[Two deals together :]
o Combined 2P reserves of ~24 million barrels and production of ~4,680 bbl/day
o Overall low-cost entry with implied acquisition cost of ~$4/ 2P bbl4
o Attractive asset breakeven economics of $35/bbl
o Average net FCF after capex of ~$35 million p.a. @ $75/bbl over next 5 years
o Payback in less than 3 years at ~$75/bbl based on 2P production alone
A presentation providing further details of the INA transaction has been uploaded to Afentra's website and can be viewed via the following link:
https://afentraplc.com/wp-content/uploa ... -final.pdf

Today 07:55 Oilex Ltd (OEX)
Change of Company Name & AIM Suspension
https://www.investegate.co.uk/oilex-ltd ... 55179521S/
Shareholders are advised that due to an administrative issue with the need to register a new International Securities Identification Number ("ISIN") with CREST as a result of the name change, a temporary suspension of trading in the Company's ordinary shares on AIM from 25 July 2022 will be sought until 29 July 2022 as a consequence of dealings, settlements and transfers in CREST being disabled during this registration period.
Accordingly, dealings in the Company's ordinary shares under the new name and new ticker 'SYN' are expected to commence on AIM at 7.30am (London Time) on 29 July 2022. [but on ASX on 26 July 2022]
The Company's new website will be http://www.synergiaenergy.com

Today 07:00 Predator O&G Hldgs (PRD)
Drilling and Operations Update
https://www.investegate.co.uk/predator- ... 00068846S/
The Company is in the process of completing local permitting for the second of two alternative locations for the step-out well to the MOU-1 well which was completed for rigless testing in 2021. The final location will be agreed following the integration of reprocessed 2D seismic data that have recently been received. Civil engineering works will commence this month to construct the well pad for the step-out well now designated MOU-2....
The well is anticipated to be drilled and completed for rigless testing between September and October this year. The drilling window will be updated as well inventory arrives in Morocco from overseas...
The well will test the Moulouya Fan, previously designated the "MOU-4 Fan". The extreme western feather edge of the Moulouya Fan was penetrated in MOU-1 located approximately 8 kms. to the southeast of the new step-out well. MOU-1 established the presence of gas in the target section and confirmed an over-pressured mudstone seal. Post-well seismic ties validated a seismic amplitude signature for the MOU-4 Fan covering an area of greater than 30 km²....
MOU-2 is targeting net Best Estimate resources to the Company of 295 BCF...Gas deeper than the mapped structural closure tested by MOU-2 would support the SLR High Estimate of gas resources net to the Company of 708 BCF....
Initial gas sales are likely to be constrained to a plateau of 10 mm cfgpd (using MOU-2 and MOU-1). Reservoir characteristics are encouraging and well deliverability may potentially be significantly higher than this plateau....
To assist the financing of the CNG development the Company is seeking to have in place before MOU-2 is drilled a Memorandum of Understanding with an international CNG utility company to finance through a leasing agreement the initial CNG development. The lack of fixed pipeline development costs; accelerated timescale to first gas; and higher gas prices achieved in the Moroccan industrial market versus the power sector generates the scale of revenues necessary to make commercially attractive such leasing agreements....
The SLR CPR (January 2022) gives an unrisked NPV per BCF of discovered gas of US$1.99 million. This is based on a large-scale gas-to-power development using a gas price of US$9/mcf and results in a low net-back of just US$1.99/mcf. Conservatively therefore a 10 mm cfgpd CNG project would generate a NPV of US$7.26 million annually rising to US$36.3 million through scaling up to 50 mm cfgpd.
At an exchange rate of US$1.19/GBP1.00 this represents an unrisked 146.5 pence per share [currently 10p] based on the Company's fully diluted share capital of 339,582,281 shares to support the risk-reward drilling proposition....
The Company is seeking to acquire an attractive green hydrogen opportunity to develop once the Moroccan drilling and testing programme for 2022 has been completed.

Today 07:00 Hurricane Energy PLC (HUR)
Operational and Financial Update
https://www.investegate.co.uk/hurricane ... 00078869S/
As of 16 July 2022, Lancaster was producing c.8,650 bopd from the P6 well alone with an associated water cut of c.46%.
As of 30 June 2022, the Company had net free cash(4) of $127 million compared to the last reported balance of $139 million as of 31 May 2022. $78.5 million of Convertible Bonds remain outstanding and are due to be repaid by 24 July 2022. Following the repayment, assuming oil prices remain at over $90/bbl, at the end of July the Company is forecasting to be holding net free cash in excess of $75 million. If oil prices for the July cargo are above $110/bbl, the net free cash forecast increases to be above $85 million...
"we now look beyond repayment of the bonds with a strong cash position and balance sheet. We believe that there are good investment opportunities ahead and the Company is well placed to deliver significant shareholder value."

Today 07:00 Challenger Energy (CEG)
Trinidad Q2 2022 Update
https://www.investegate.co.uk/challenge ... 00058655S/
· Total gross oil production for Q2 2022 was 34,159 barrels equating to approximately 375 barrels of oil per day (bopd), representing an approximately 6% increase over Q1 2022 (358 bopd)....with a gross realised average price per barrel sold of US$97.45, representing approximately a 17% increase over Q1 2022 ....average net revenue to the Company of US$45.15 per barrel sold, an approximately 15% increase over Q1 2022.
[still no word on accounts]

Today 07:00 Canadian O'Seas Petr (COPL)
COPL Extends Closing of Cuda Acquisition
https://www.investegate.co.uk/canadian- ... 00089442S/
is pleased to announce an extension to the previously announced Purchase Agreement ("Agreement") to acquire the United States assets of Cuda Energy LLC...The Parties to the Agreement agreed to extend the outside date for closing the Cuda Acquisition to the 25th of July 2022.

Today 07:00 Velocys PLC (VLS)
Director/PDMR Shareholding
https://www.investegate.co.uk/velocys-p ... 00088847S/
Philip Sanderson (Chief Financial Officer) buys £9k


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