Tue, 22nd Dec 2020 18:06
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
Lekoil Ltd - Lagos-headquartered oil exploration and production company with interests in Nigeria and offshore Namibia - Says arguments made by Metallon Corp Ltd, which requisitioned general meeting of Lekoil shareholders, are specious and designed to distract from their true intentions . Lekoil says it has never been against making board changes. The board considers the requisitioned resolutions to be no more than an ill-disguised attempt by Metallon to gain control of your company without paying a price to all shareholders, Lekoil adds. Company explains that should Metallon s proposals be passed, the shareholder s appointees will represent 50% of Lekoil s board and will also have a casting vote. The board does not believe that it would be appropriate for a 15% shareholder, to enjoy that level of board rep
UK TRADING UPDATE SUMMARY: Lekoil Fires Back At Shareholder Metallon
Tue, 22nd Dec 2020 18:06
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
Lekoil Ltd - Lagos-headquartered oil exploration and production company with interests in Nigeria and offshore Namibia - Says arguments made by Metallon Corp Ltd, which requisitioned general meeting of Lekoil shareholders, are specious and designed to distract from their true intentions . Lekoil says it has never been against making board changes. The board considers the requisitioned resolutions to be no more than an ill-disguised attempt by Metallon to gain control of your company without paying a price to all shareholders, Lekoil adds. Company explains that should Metallon s proposals be passed, the shareholder s appointees will represent 50% of Lekoil s board and will also have a casting vote. The board does not believe that it would
Argentina: Echo Energy secures new gas sales agreement for its Santa Cruz Sur assets, onshore Argentina
17 Dec 2020
Echo Energy, the Latin American focused upstream oil and gas company, has provided a commercial update regarding the Company s gas sales from the producing
Santa Cruz Sur assets, onshore Argentina.
The Company is pleased to confirm that it has secured a new contract at a premium to prevailing spot market rates with a key gas customer for four months until end April 2021 pursuant to which the Company will supply the customer with approx. 1.8 MMscf/d gross (1.3 MMscf/d net to Echo) of natural gas. In the absence of the new contract these volumes would have been sold to the spot market. The gas price under the contract is a flat $2.00 per mmbtu representing a significant 26% premium to the prevailing local spot price in November 2020.
Echo Energy New gas contract at premium to prevailing spot pricing 7:24 am
Echo Energy plc (LON:ECHO), the Latin American focused upstream oil and gas company, is pleased to provide a commercial update regarding the Company’s gas sales from the producing Santa Cruz Sur assets, onshore Argentina.
The Company has confirmed that it has secured a new contract at a premium to prevailing spot market rates with a key gas customer for four months until end April 2021 pursuant to which the Company will supply the customer with approximately 1.8 MMscf/d gross (1.3 MMscf/d net to Echo) of natural gas. In the absence of the new contract these volumes would have been sold to the spot market. The gas price under the contract is a flat $2.00 per mmbtu representing a significant 26% premium to the prevailing local spot price in November 2020.