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 – 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 – 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 & Power #ADL – Colter Well Spud

Andalas Energy and Power Plc is pleased to announce that it has been notified by Corallian Energy Limited (‘Corallian’), the operator of the P1918 licence in the Wessex Basin, that the Colter 98/11a-5 appraisal well (‘the Well’ or ‘Colter’) spudded at 10:10hrs on February 6th 2019.  The drilling is expected to take three weeks. Andalas holds […]

Andalas Energy & Power #ADL CEO Simon Gorringe purchases 3m shares

Andalas Energy and Power PLC announces the following dealing in the ordinary shares of the Company made by, Simon Gorringe, Chief Executive Officer of the Company. On 27 December 2018, Mr Gorringe acquired 3,000,000 Andalas ordinary shares at a price of 0.66 pence per share, representing 0.82% of the Company’s issued ordinary share capital. Following […]