Baron Oil PLC (AIM:BOIL) shares were down 29% in Friday morning’s dealing, accounting for a discounted equity raise that’s bringing £3.26 million into the company.
The junior oil firm is selling £3 million of new shares in a placing arranged by brokers Allenby and Cavendish, and a further £260,000 in a retail offer run via the Winterflood Retail Access Platform - new shares are being sold at 0.05p.
Plexus Holdings PLC (AIM:POS) shares soared in Friday morning’s deals boosted by news of new business in what’s expected to be a growth sector for the offshore oil and gas services firm.
The company today announced a new contract win, valued at over £1 million, with the company supporting ‘plug & abandonment’ activities in the Dutch North Sea.
Mosman Oil and Gas Ltd (AIM:MSMN) has reported increased production at its Stanley project in the United States with gross output of 93 barrels of oil per day, up from 43 bopd last quarter.
It follows a series of reconfigurations and optimisations of production equipment and the installation of new gear.
Diversified Energy Company PLC (LSE:DEC, NYSE:DEC) is to give shareholders a choice as it rolls out a US$43 million capital return programme – they can either receive a dividend or sell their shares back to DEC via a tender offer.
The overall US$43 million pot is equivalent to the total dividends paid for the third quarter.
Tower Resources PLC (AIM:TRP) told investors it has agreed to repay its outstanding balance to Energy Exploration Capital Partners LLC (EECP), and is raising additional capital through a £600,000 share subscription.
It will issue around 3.33 billion new shares, priced at 0.018p each. The equity issue is being arranged by the company's broker, Axis Capital Markets.
Quadrise PLC (AIM:QED) has hailed a new 'tripartite' agreement that brings a company called Energy Group into a project developing new green marine fuels.
Euthenia, an industrial conglomerate focused on the development, financing, and operation of renewable brings its expertise in low carbon economy transition.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) told investors it has received state and federal approvals, effectively greenlighting its planned "twinned" redrill of the State 36-2 well, in Utah.
The company said it will now move to execute a rig contract and will update the market on the expected timeline for the spud of the State 36-2R well upon award of the contract.