Lansdowne Oil & Gas (AIM: LOGP) shares dipped 29% during Thursday morning trading as the small Irish oil company announced equity funding of up to £200,000.
The plan is to sell two batches of new shares, with an initial raise of £60,000 (60 million shares at 0.1p), plus a conditional raise of £140,000 at the same price, pending shareholder approval at a meeting set for 9th August.
@Heliumone1 Drilling of Tai Prospect in Rukwa Basin, #Tanzania on track for 3Q 2023 following the acquisition of Epiroc Predator 220 drilling rig #HE1 is financially ready for the well, with enough funding possibly even for a second well. https://t.co/XoZwvtUWFw
— Share_Talk ™ (@Share_Talk) July 22, 2023
Kistos PLC (AIM: KIST), an energy company, experienced a rise in share value after announcing their successful appeal in the Netherlands, overturning the Dutch government’s previous decision not to extend the M10/M11 licence. The company, quoted on AIM, owns a 60% interest in this licence situated on the Netherlands North Sea Shelf, which is now extended for an additional five years.
According to Berenberg analysts, Shell PLC (LSE: SHEL, NYSE: SHEL) has the most robust balance sheet among all European integrated oil majors, thus earning a ‘buy’ recommendation. They have set a price target of £28.50, offering a potential 100p increase from the current market price of around £27.50. Berenberg analyst, Henry Tarr, shared these insights after Shell’s Q2 update.
BP PLC (LSE: BP.) is projected to continue generating enough free cash flow to benefit shareholders, states Berenberg. However, the bank sees more potential elsewhere in tightening markets. This expectation is on the horizon of Q2 results, which predict a substantial sequential slowdown due to lower commodity prices, increased maintenance and turnarounds, and decreased trading results, according to analyst Henry Tarr.
@angusenergyplc Financing, Corporate Update, Issue of Equity & TVR #ANGS
· Average Production of 80,000 therms per day in June and 92,000 therms per day in July to date.
· Gas revenue of £1.735 million in June 2023.https://t.co/jdxDXoZAZk— Share_Talk ™ (@Share_Talk) July 21, 2023
United Oil & Gas PLC (AIM: UOG) shares plummeted over 25% following the company’s trading update that pointed out several challenges, including a strain on working capital. Despite sustaining a profitable operation in Egypt, it noted increasing difficulty and expense in repatriating funds from these operations.
Diversified Energy Company PLC (LSE: DEC, OTCQX: DECPF) (DEC) announced another asset divestiture, selling a 22,000 net acre parcel of undeveloped land in Oklahoma for US$16 million. This transaction, with an unnamed party, displays DEC’s ability to extract value from its portfolio by monetizing non-core and undeveloped acreage and aligns with its strategic focus on more advanced projects.
Twitter Update @Synergiaenergy Completion retrieval on C-77H well with production tubing and packer removed from the wellbore #SYN (20/07/23)pic.twitter.com/V8uoT9jfbd https://t.co/EcO1Flzrqf
— Share_Talk ™ (@Share_Talk) July 20, 2023
Mosman Oil and Gas Ltd (AIM: MSMN) revealed a non-binding head of agreement for a potential helium offtake from its exploration block in the Amadeus Basin in central Australia. The preliminary agreement is with Beijing Sinoscience Fullcyro Technology and Beltway Group.
