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Resources round-up: Lenigas, Altona, Egdon Resources

Mon, 05th Nov 2012 16:02

Oil explorer Lenigas continued its recent good run after its revealed it has sold its remaining minority in the US Gulf of Mexico.The company is receiving $1.25m for its interests in seven leases which, during 2011, earned £383,000 in revenue for the company and £204,000 in profits. The funds obtained will reduce the needs to source additional capital through the equity or debt markets and will permit Lenigas to actively accelerate the development of its Trinidad portfolio.Altona Energy has signed up Parsons Brinckerhoff's Global Mining Business group, a division of Balfour Beatty, to oversee the Arckaringa Mine development and the design-build activities for Altona's 30,000 barrels per day clean energy coal- to-liquids project in South Australia. First on the agenda for Parsons Brinckerhoff is to assist Altona in the selection and project management of the drilling contractor to carry out a test drilling program at Arckaringa. Egdon Resources, the exploration and production company primarily focused on the hydrocarbon-producing basins of onshore UK and France, fell into the red in the year to the end of July. Loss before tax was £2.89m versus a profit the previous year of £4.08m as the group took impairment charges of £3.15m in aggregate in respect of the Kirkleatham (£1.60m), Ceres (£0.75m) and Markwells Wood assets (£0.80m). Revenue from oil and gas production during the year was up 9.9% to £2.61m from £2.38m the year before on slightly lower production of 45,656 barrels of oil equivalent (2011: 46,919 barrels). As at 31 July 2012, the group had £3.33m of cash and cash equivalents, down from £3.69m a year earlier.

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13 Feb 2017 09:48

LGO clearing trees ahead of Goudron drilling

(ShareCast News) - LGO Energy confirmed on Monday that final approval was granted by the Trinidadian Forestry Department on 10 February to cut trees in order to clear the well sites for the impending two shallow infill wells at the Goudron Field in the east of the country. The AIM-traded firm said s

9 Feb 2017 13:13

LGO Energy reapplies to Spanish government for oil concession

(ShareCast News) - Oil and gas firm LGO Energy has reapplied to the Spanish government to extend its concession in the country, after it was denied an extension in January. The La Lora concession, which has a carried value of £7m and is owned by the the company's subsidiary, Compañía Petrolífera de

30 Jan 2017 13:25

LGO Energy to re-apply for extension of Spain oil concession

(ShareCast News) - LGO Energy is "disappointed" on learning the Spanish government has not approved the extension of its concession in the country and the oil and gas firm is looking to reapply. The AIM-listed company maintained that the pending the extension decision, and along with present oil pr

24 Jan 2017 16:06

LGO Energy busy in Trinidad

(ShareCast News) - LGO Energy provided an operational update on Tuesday, including plans for production drilling and enhanced oil recovery at the Goudron Field in Trinidad, its Trinidad South West Peninsula interests and group production for the fourth quarter 2016. The AIM-traded company said that

21 Dec 2016 13:50

LGO Energy looking at busy year of operations

(ShareCast News) - LGO Energy updated the market on its corporate plans for the first quarter of 2017 on Wednesday, saying its recent loan refinancing and equity placement positioned the company for an early return to drilling in the Goudron Field. The AIM-traded firm said that would happen with the

21 Dec 2016 10:19

Revitalised LGO Energy Eyes Drilling At Goudron Field In Early 2017

13 Dec 2016 09:23

LGO Raises Funds For Goudron Field By Issuing Shares At Discount (ALLISS)

13 Dec 2016 07:57

LGO energy raises £1.18m to accelerate drilling program at Trinidad wells

(ShareCast News) - AIM-listed oil and gas explorer LGO Energy has raised £1.18m in equity to accelerate the drilling of its sandstone wells in Trinidad. The company will use the £1.funds raised to hasten the drilling of the Mayaro sandstone infill wells at its Goudron Field in Trinidad, and for use

12 Dec 2016 14:26

LGO Energy looking ot restart drilling at Goudron

(ShareCast News) - LGO Energy updated the market on its plans to recommence production drilling at the Goudron Field in Trinidad on Monday, following its announcements on 7 and 9 December confirming the refinancing of the company's loan facility. The AIM-traded firm's local operating subsidiary, Gou

9 Dec 2016 14:28

LGO Energy completes refinancing

(ShareCast News) - LGO Energy confirmed on Friday that, as announced on 7 December, its refinancing had now completed. The AIM-traded company said first close on the transaction agreed with the Lind Partners occurred on Friday. "LGO received the proceeds from the first drawdown of $1.825m on the Li

7 Dec 2016 18:09

LGO Energy Shareholder Sells Up As Funding Deal Sends Shares Soaring

7 Dec 2016 10:31

WINNERS & LOSERS SUMMARY: WPP Hit By Report Of US Justice Probe Of Ads

7 Dec 2016 09:27

LGO Energy Agrees New Funding To Repay Defaulted Bank Facility

7 Dec 2016 09:24

LGO Energy secures funding for drilling project

(ShareCast News) - LGO Energy, AIM listed oil and gas exploration company, has announced that it has secured a new $8.6m convertible security funding agreement to pay back its debt and restart its development drilling program at its Goudron Field. The first drawdown of the $1.8m on the funding agree

29 Nov 2016 11:13

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Resources round-up: Lenigas, Altona, Egdon Resources

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