Andalas Energy And Power (ADL) Services Agreement to Indonesian KSO: Betun-Selo KSO
Andalas Energy and Power Plc (AIM: ADL) is pleased to announce that it has entered into an operating services and option agreement (“Services Agreement”) in respect of the producing Betun-Selo KSO in Sumatra, Indonesia and has also issued a £2 million unsecured, interest-free convertible loan note facility (“Convertible Note”) arranged by Optiva Securities. The Betun-Selo KSO […]
Andalas Energy & Power #ADL – Resignation of Director
Andalas Energy and Power Plc (AIM: ADL) announces the resignation of Dan Jorgensen as Finance Director of the Company with immediate effect. Dan is leaving to pursue other private commercial opportunities. He will assist the Company by providing on-going support as it transitions to a new arrangement, as detailed below. FIM Capital Limited, the Company’s […]
Andalas Energy & Power #ADL – Holdings in Company
Andalas Energy and Power Plc Holding(s) in Company TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: Andalas Energy & […]
Andalas Energy & Power #ADL – Result of EGM and Total Voting Rights
The Extraordinary General Meeting (“EGM”) for Andalas Energy and Power plc (AIM:ADL) was held today at 10.00am. All resolutions were passed. Following the passing of the resolutions at the EGM, the Conditional Placing, as announced on 27 February 2019, was approved. Accordingly, the Company has issued the conditional placing shares totalling 48,888,889 Ordinary Shares, which […]
Andalas Energy & Power #ADL – Update on Eagle Gas Limited
Andalas Energy and Power Plc, the AIM listed oil and gas company (AIM: ADL), has been advised by Eagle Gas Limited (“Eagle”) that Holywell Resources Limited (“Holywell”), the operator of Southern North Sea Licence P2112 (“Licence”), and Atlantic Petroleum UK Ltd (“Atlantic”) have elected to relinquish the Licence. Simon Gorringe, CEO of Andalas Energy and […]
Andalas Energy & Power #ADL – Update on Colter
Andalas Energy and Power Plc (AIM: ADL) has been informed by the Operator (Corallian Energy Limited) that the sidetrack well 98/11a-6Z has encountered the top of the Sherwood Sandstone reservoir below the level of the 98/11-3 oil water contact and did not penetrate the predicted fault bounding the target Colter Prospect. The well will now […]
Andalas Energy & Power #ADL – Placing, notice of EGM and issue of consideration shares
Andalas Energy and Power plc (AIM:ADL) announces that it has conditionally raised gross proceeds of £1,000,000 via a placing (‘Placing’) of 222,222,222 ordinary shares of nil par value (“Ordinary Shares”) at a price of 0.45pence (the “Placing Price”) per Ordinary Share (“Placing Shares”), compared to the mid-market price of 0.575 pence at the close of […]
Andalas Energy and Power Plc (ADL) Colter Well Update
Andalas Energy and Power Plc, the AIM listed oil and gas exploration and development company, is pleased to provide the following update on the Colter appraisal well (‘the Well’ or ‘Colter’), currently being drilled by Corallian Energy Limited (‘Corallian’) in the P1918 licence in the Wessex Basin. Andalas holds an 8% interest in the licence. The […]
Andalas Energy and Power Plc – Bunga Mas Update
Andalas Energy and Power Plc provides the following update in relation to its proposed acquisition of an interest in the Bunga Mas production sharing contract (“PSC”) (announced 29 August 2018). The long stop date for fulfilment of the conditions precedent to the sale and purchase agreement expired on Friday, 15 February, and the parties have […]
Andalas Energy and Power Plc (ADL) Bunga Mas update
Andalas Energy and Power Plc recognises recent press speculation regarding the Bunga Mas PSC (“PSC”) acquisition (announced 29 August 2018) and would like to clarfy the current position. Andalas has been advised that the government of Indonesia (“GOI”) has provided the PSC contractors, with an agreement to convert the PSC into a gross split production […]