Top 5 Most Read RNS's on Vox Markets for Tuesday 21st March 2023
Episode 1282, Mar 21, 2023, 08:06 AM
Top 5 Most Read RNS's on Vox Markets for Tuesday 21st March 2023
5. Beacon Energy - Update re Proposed Reverse Takeover Transaction
Beacon Energy announce that the Company has today published an admission document incorporating a formal Notice of Extraordinary General Meeting, in relation to the conditional acquisition of Rhein Petroleum for a consideration of 3.4m new Ordinary Shares and an associated conditional issue of 5.4m new Ordinary Shares at a price of 0.11 pence to raise, in aggregate, gross proceeds of £6.04 million.
The Rhein Petroleum Assets contain a 2P net reserve base of 3.85 mmbbl and a 2C net contingent resource base of 22.96 mmbbl, located across four core assets.
4. Eco (Atlantic) O&G - Proposed Offshore Exploration in Block 3B/4B
Eco (Atlantic) Oil & Gas and its partners are applying for Environmental Authorisation to undertake exploration activities in Block 3B/4B in the Orange Basin off the Northern Cape/South-West Coast of South Africa (the "Block").
3. United Oil & Gas #UOG - Commencement of Production from the ASH-8 well
United Oil & Gas announce an update on the ASH-8 development well in the Abu Sennan licence, onshore Egypt. United holds a 22% working interest in the licence, which is operated by Kuwait Energy Egypt.
ASH-8 well commenced production on 16 March at an initial stabilised rate of c. 2,980 bopd and 2.64 Million standard cubic feet per day gross (c. 656 bopd and 0.58 mmscf/d net)
Production has come onstream six weeks ahead of the anticipated schedule, at a higher rate than originally forecast resulting in group H1 production now expected to be at the upper end of the guided range of 700 - 900 bopd net
2. Caracal Gold #GCAT - High Grade Zone on Kilimapesa Hill
Caracal Gold announce the discovery of a new high-grade zone above the current underground workings and above the areas drilled as part of the Mineral Resource Estimate (MRE) on the Kilimapesa Hill deposit.
Highlights
· 360tpd of high-grade material with average grades from 3.31g/t to 4.74g/t being processed,
· A mining plan confirming 90 days of high-grade material has been prepared and is being actioned,
· Exploration to define the full potential of the high-grade zone underway.
1. Powerhouse Energy #PHE - Joint Venture with HUI
Powerhouse Energy announce that it has agreed Heads of Terms with Hydrogen Utopia International Plc for the proposed joint development of a non-recyclable plastic waste-to-hydrogen facility site at Longford, County Longford in the Republic of Ireland (the "Longford Project").
Under the HoTs, PHE and HUI have agreed to use a joint venture vehicle, incorporated in Ireland, with equal shareholding by each party and development costs being contributed to on a 50:50 basis.
PHE has agreed to pay HUI a non-returnable payment of up to £400,000 in cash in recognition of HUI's contribution to identifying the Longford Project, securing the option to lease and progressing the project.
5. Beacon Energy - Update re Proposed Reverse Takeover Transaction
Beacon Energy announce that the Company has today published an admission document incorporating a formal Notice of Extraordinary General Meeting, in relation to the conditional acquisition of Rhein Petroleum for a consideration of 3.4m new Ordinary Shares and an associated conditional issue of 5.4m new Ordinary Shares at a price of 0.11 pence to raise, in aggregate, gross proceeds of £6.04 million.
The Rhein Petroleum Assets contain a 2P net reserve base of 3.85 mmbbl and a 2C net contingent resource base of 22.96 mmbbl, located across four core assets.
4. Eco (Atlantic) O&G - Proposed Offshore Exploration in Block 3B/4B
Eco (Atlantic) Oil & Gas and its partners are applying for Environmental Authorisation to undertake exploration activities in Block 3B/4B in the Orange Basin off the Northern Cape/South-West Coast of South Africa (the "Block").
3. United Oil & Gas #UOG - Commencement of Production from the ASH-8 well
United Oil & Gas announce an update on the ASH-8 development well in the Abu Sennan licence, onshore Egypt. United holds a 22% working interest in the licence, which is operated by Kuwait Energy Egypt.
ASH-8 well commenced production on 16 March at an initial stabilised rate of c. 2,980 bopd and 2.64 Million standard cubic feet per day gross (c. 656 bopd and 0.58 mmscf/d net)
Production has come onstream six weeks ahead of the anticipated schedule, at a higher rate than originally forecast resulting in group H1 production now expected to be at the upper end of the guided range of 700 - 900 bopd net
2. Caracal Gold #GCAT - High Grade Zone on Kilimapesa Hill
Caracal Gold announce the discovery of a new high-grade zone above the current underground workings and above the areas drilled as part of the Mineral Resource Estimate (MRE) on the Kilimapesa Hill deposit.
Highlights
· 360tpd of high-grade material with average grades from 3.31g/t to 4.74g/t being processed,
· A mining plan confirming 90 days of high-grade material has been prepared and is being actioned,
· Exploration to define the full potential of the high-grade zone underway.
1. Powerhouse Energy #PHE - Joint Venture with HUI
Powerhouse Energy announce that it has agreed Heads of Terms with Hydrogen Utopia International Plc for the proposed joint development of a non-recyclable plastic waste-to-hydrogen facility site at Longford, County Longford in the Republic of Ireland (the "Longford Project").
Under the HoTs, PHE and HUI have agreed to use a joint venture vehicle, incorporated in Ireland, with equal shareholding by each party and development costs being contributed to on a 50:50 basis.
PHE has agreed to pay HUI a non-returnable payment of up to £400,000 in cash in recognition of HUI's contribution to identifying the Longford Project, securing the option to lease and progressing the project.