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Prospex Energy PLC (AIM:PXEN) | RNS | Prospex Energy PLC - Placing to Raise £750,000
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Europa Oil & Gas Holdings PLC (AIM:EOG) | RNS | Europa Oil & Gas - Result of General Meeting
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Notes Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage hydrocarbon assets which includes production, development and exploration interests, in countries that are politically stable, have transparent licensing processes, and offer attractive terms. In terms of production, in the year to 31st July 2020 Europa produced 92 boepd. Production has the potential to increase to over 200 boepd once the Wressle field in the UK, which is currently under development, comes on stream at a forecast gross rate of 500 bopd. The Company holds four exploration licences offshore Ireland which have the potential to host gross mean un-risked prospective resources of 2.7 trillion cubic feet ( tcf ) gas ( subject to regulatory approval for the transfer of FEL 3/19). The Company s flagship projects offshore Ireland are Inishkea and Edge, two near field gas prospects in the Slyne Basin which the Company classifies as lower risk infrastructure
Highlights · Raising up to £2million via £1.5million Placing and £500,000 Broker Option primarily to fund multiple work programmes focused on: o Evaluating late-stage appraisal/development projects that would rebalance existing portfolio of production and exploration assets o Improving recovery from existing onshore UK fields including potential workovers on WF2 and WF9 wells at the West Firsby field o Continuing technical analysis and seismic reprocessing on the Inezgane Licence in Morocco in preparation for farm-out · Turner Pope Investments to be appointed joint broker and granted Broker Option to provide the opportunity for shareholders to participate in the Placing at the Placing Price
Acquisition of a further 16.7% interest in cashew project Dekel Agri-Vision Plc, the West African focused agriculture company, is pleased to announce it has entered into an agreement to acquire an additional 16.7% interest in the large scale raw cashew nut ( RCN ) processing project at Tiebissou, Côte d Ivoire (the Cashew Project ), which will increase its interest in the Project to 70.7% (the Acquisition ). The Cashew Project is on course to become Dekel s second producing asset in Q2 2021, alongside the 100%-owned palm oil asset at Ayenouan. Cash and shares settlement at request of vendor to retain exposure to upside potential Dekel is increasing its interest in the Cashew Project via the acquisition of a 16.7% beneficial interest in Pearlside Holdings Ltd ( Pearlside ), the wholly owned parent of Capro CI SA, the entity developing the Project, for a total consideration of £1.062m. £708,000 of the consideration is t
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