Quadrise PLC (AIM:QED) is now ‘fully funded’ for around the next eighteen months, at least, as the small-cap cleaner fuels company advances multiple opportunities from trial to commercialisation.
It confirmed on Friday morning that the firm’s equity raise was well-backed by investors, with the share sale both upsized and oversubscribed, securing some £4.5 million in a placing that had targeted £3 million.
Quadrise PLC (AIM:QED) saw strong investor backing in its equity raise, as this morning it confirmed an upsized and oversubscribed placing has raised £4.5 million.
The small-cap cleaner fuel company will issue some 150 million new shares priced at 3p each, in the placing that is also supported at the same time by a direct share subscription by directors to bring in another £300,000.
Tamboran Resources Corporation has kickoff stimulation activities of the Shenandoah South 2H sidetrack (SS-2H ST1) and the Shenandoah South 3H (SS-3H) wells at its Beetaloo Basin exploration permit EP 98 within the Greater McArthur Basin in the Northern Territory, Australia.
The company is planning to pump up to 119 stimulation stages across the two wells with reduced spacing between stages.
Buru Energy Ltd has accepted an offer from Sipa Resources Ltd to sell its 50% share in the Barbwire Terrace Base Metal Project, in return for a 0.6% net smelter royalty.
Buru’s wholly owned subsidiary Battmin Pty Ltd entered into a sale and purchase agreement with Sipa, to sell its interest in the two granted tenements E04/2674 and E04/2684.
HeLIX Exploration PLC (AIM:HEX) on Thursday treated investors to a quick-turnaround, premium-priced equity raise that banks some £5 million.
It comes synchronised with an estimate of reserves and an upgrade to its estimated resources at the Rudyard project in Montana.
BP PLC (LSE:BP.) has some big strategic questions to answer, says Canadian bank RBC and it is hoping that a planned capital markets day on 26 February will clear up a lot of them.
“The event should stand as a significant line in the sand following the initial energy transition strategy presented in 2020, one that included macro assumptions that look out of tune with reality,” said the bank.
HeLIX Exploration PLC (AIM:HEX), the helium explorer, has confirmed it has successfully raised £5 million in its equity fundraising, which was expanded from its initial £4 million target.
It has therefore agreed to issue 29.57 million shares in a placing, plus 3.76 million shares via a subscription agreement, with all new shares priced at 15p.
Empyrean Energy PLC (AIM:EME) has now acquired a stake in the Wilson River oil exploration project, in Queensland, Australia.
The Wilson River prospect, situated close to existing infrastructure and producing oil fields, holds prospective oil resources estimated between 8.7 million and 37.4 million barrels of oil equivalent (MMBOE), with a mean estimate of 21.3 million.
HeLIX Exploration PLC (AIM:HEX) has upgraded its helium reserves and economic estimates for the Rudyard Project, in Montanta, alongside plans to raise £4 million through an equity issuance.
It aims to raise £3.5 million in a placing, plus £464,500 in a share subscription, with new shares to be priced at 15p each.
Tamboran Resources Corporation and Santos Ltd could add up to 6 million tonnes per annum (MTPA) of capacity to the current Darwin LNG (DLNG) facility in Australia's Northern Territory through a second LNG production train.
The companies have signed a non-binding Memorandum of Understanding (MoU) for technical studies regarding the potential expansion, with the DLNG approved for a nominal 10 MTPA.
Mosman Oil and Gas Ltd (AIM:MSMN) underlined its focus on helium exploration in the United States, as it agreed to sell its interest in its EP(A) 155 rights in Australia.
Georgina Energy subsidiary Westmarket Capital is to pay AU$350,000 in cash plus a 2.5% royalty interest that could yield further financial returns in the future.
A new transaction between Enquest PLC (AIM:ENQ) and Harbour Energy PLC (LSE:HBR), two of London’s largest independent oil and gas firms, will see the former acquire a portfolio of assets in Vietnam.
EnQuest is acquiring all of Harbour's Vietnam business including a 53.125% interest in the Chim Sáo and Dua production fields.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) told investors that the initial results from the Megrez-1 well, in Alaska, had exceeded pre-drill expectations.
The well, part of the Ahpun project, encountered a total of seven intersections across four ‘horizons’ – the Lower Sagavanirktok (three sections), Upper Prince Creek, Lower Prince Creek, and Upper Schrader Bluff (two sections).
Serica Energy PLC (AIM:SQZ) told investors that its outlook for 2025 is “promising”, highlighting ongoing work to “increase asset reliability”.
The North Sea oil and gas producer reported its performance for 2024, in which amounted to 34,600 barrels of oil equivalent per day (boepd), down from 40,100 boepd, due to unplanned downtime for the Triton floating production facilities.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) ended 2024 with a A$7.2 million cash balance, and, multiple active projects.
The dual-listed oil and gas junior, in its mandatory periodic ‘quarterly activities’ report, highlighted the recent developments across Project Phoenix (in Alaska), Project Leonis (Alaska), Project Longhorn (Texas) and Namibian assets.
US President Donald Trump, inaugurated on Monday, revoked offshore drilling bans imposed by his predecessor, Joe Biden.
The move reopens 625 million acres of coastal waters for potential oil and gas development, reversing restrictions aimed at protecting marine ecosystems.
Nostra Terra Oil and Gas Company PLC (AIM:NTOG, OTC:NTOGF) has confirmed an expected rise in production levels at its Pine Mills asset in Texas.
It comes as a programme of workovers and well reactivations are bringing up volumes.
Buru Energy Ltd has a clear focus “to do all that is needed to deliver its 100%-owned Rafael Project, which is the most value accretive pathway for the company and the stakeholders,” according to chief executive officer Thomas Nador.
In Buru’s December quarterly report, the CEO said: “As the only proven conventional gas and liquids resource in the greater Kimberley region, developing Rafael is a unique opportunity for the company to build a foundation energy business to supply an established and growing regional energy market.
D3 Energy Ltd has had further success at the ER315 Project in South Africa upon completing production testing at Nooitgedacht Major with gas flowing at an average flow rate of 95 Mscfd for a 14-day period.
Providing the company with further confidence from the legacy borehole in the northern area of ER315 were the world-class helium concentrations of 5.6% and methane at 83.2%.
D3 Energy Ltd directors have strongly endorsed the company’s growth trajectory and energy strategy focused on providing new energy sources in South Africa by making recent on-market share purchases.
Chair Greg Columbus purchased 264,618 shares at A$0.075 per share for a total value of A$19,897, managing director David Casey bought 266,666 shares at A$0.075 each for a total of A$20,000 and non-executive director Matt Worner paid A$9,902 for 125,555 shares at A$0.079 per share.
Chevron Corporation (NYSE:CVX, ETR:CHV) has unveiled an interest in exploring for hydrocarbons in Greece, the company said on Monday.
A non-binding expression of interest for one open block had been made to Greece's Hellenic Hydrocarbons and Energy Resources Management Company, according to Reuters.
Tower Resources PLC (AIM:TRP) is now set apart from many of its small-cap peers, thanks to a deal announced in early January.
The farm-out deal was long in the waiting, as the company had been trying for a deal for several years, against a market backdrop that was far more challenging than when the process began.
Oil prices moderated on Monday ahead of Donald Trump’s White House return and speculation that sanctions against Russia could be abruptly loosened.
Benchmark Brent crude was trading at US$80.90 a barrel on Monday and off its five-month high of US$82.56 seen last week.
Shares in Enteq Technologies PLC (AIM:NTQ) rose by over half after the company hung up the 'for sale' sign.
The move comes amid challenging market conditions and tight cash balances, which stand at approximately $950,000 - giving it a runway out to June.
John Wood Group PLC (LSE:WG.) has landed a new long-term maintenance contract with Esso Australia.
It includes the provision of maintenance services and shutdown support for onshore and offshore assets in the Gippsland Basin, Victoria.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) told investors it has started operations for an extended lateral on its State 36-2 LNW-CC-R well.
The well is located in the Cane Creek reservoir within the Paradox Basin, Utah.