The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Afentra PLC - Africa-focused energy company - Notes approval from regulator and contractor group members for its proposed acquisitions of oil assets offshore Angola from Sonangol Pesquisa e Produco SA. The purchase of blocks 3/05 and 23 from Sonangol was first announced back in April last year. ‘We look forward to updating on final completion settlement payments which we expect to occur in early May,’ Afentra says.
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Ascent Resources PLC - Latin America and Europe-focused energy and natural resources company - Notes that subsidiary Ascent Slovenia Ltd received net cash payment due of €288,689, following a settlement agreement on April 4. Back then, Ascent said it had agreed to settle a portion of its revenue recognition claim against Geoenergo, and to settle its dispute with the joint venture service provider Petrol Geo.
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Eqtec PLC - Cork, Ireland-based gasification company focused on turning waste into sustainable energy - Enters into collaboration framework agreement with Poseidon LNG Hub Srl, a sister company of energy technology project developer Belleli Group. Says Poseidon identified and selected four potential initial locations in a portfolio of projects in northern Italy. Expects each plant in the portfolio to be able to transform about 100,000 tonnes of mixed waste and biomass into renewable natural gas and other green biofuels. Eqtec anticipates for the first project to reach full permitting for construction this year and to financially close in the first half of 2024. Eqtec Chief Executive Officer David Palumbo says: ‘The RNG market in Europe shows substantial growth potential, as the continent moves to set feed-in tariffs later this year, supported even further by the anticipated announcement from European Sovereign funds toward acceleration of project financing.’
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Fulcrum Metals PLC - provider of essential utility services, including multi-utility connections and renewable energy infrastructure - Buys 42 mining claims covering 8.9 square kilometres in Ontario, Canada. Corporate Development Director Aidan O’Hara says: ‘The acquisition of Carib Creek East incorporating 42 claim cells not only extends the company’s footprint in the Winston Lake area, but also provides additional presence over a highly prospective regional mineralised area. The area, which is underexplored, has had minimal historical work undertaken with promising results including copper in soils of up to 1,100 parts per million and in rock up to 1.35%.’
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IGas Energy PLC - London-based onshore energy company - Receives planning consent for Glentworth development from Lincolnshire County Council, for an initial appraisal well and up to six horizontal development wells in phase 2. Phase 1 has the potential to add about 200 barrels per day, with the project having a net present value of £17.5 million.
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Mosman Oil & Gas Ltd - Sydney-based oil and gas company with projects in Australia and the US - Says Arco-Fee G-1 well at Cinnabar, in which Mosman has a 75% working interest, flowed oil after a workover to enable gas lift. Initial rates are about 5 barrels of oil per day, down from 100 bopd in 1988.
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Seed Innovations Ltd - AIM-listed investor in the medical cannabis, health, and wellness space - Notes that investee Little Green Pharma Ltd ships first new high THC strain to Ilios Sante in Germany, which Little Green says opens the pathway to a second major German medicinal cannabis distributor in addition to Demecan. The agreement has a value of around €1.4 million with 80% of quantities falling in the second year.
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