Last Thursday’s market update announce the terms of the Farm-Out Agreement between Alba and Angus Energy Weald Basin No 3 Limited (“Angus”), and receipt of the consent of the Oil and Gas Authority (“OGA”).
The Brockham partners have now completed the assignment from Angus to Alba of a 5% participating interest in Production Licence (PL) 235 comprising the Brockham Oil Field. Alba is now therefore a licensee under PL 235.’
But this is just one part of the Alba story, we take a look across the portfolio with a Share Price currently sitting at 0.26
Leni Gas Cuba (LGC) was founded in March 2015 as the first specialist investment company in the world to focus on the country of Cuba. It listed on the ISDX Growth Market in November having raised a total of £4.725 million in order to implement its investment strategy. So far, investments have been made in five Cuba based companies, giving LGC a head start in one of the world’s most prospective national economies.
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A while back we looked at the story unfolding beneath Horse Hill. At the time we were curious to understand why Angus Energy had decided to depart from the Horse Hill Sisters and sell their stake to Regency. A simple answer would be that owning the rights to Brockham field meant they could benefit from the same oil that HH-1 discovered from only 2 miles away. And more so but we’ll get back to that. Before we do, let’s take a brief history trip!