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Roxi Petroleum PLC (RXP.L)

RXP.L on London Stock Exchange

9.75GBp
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9.75
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565,246
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13.50
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8.50

Latest Key Developments (Source: Significant Developments)

Roxi Petroleum PLC announces cancellation of royalty
Friday, 24 Jul 2015 02:01am EDT 

Roxi Petroleum PLC:Announces that it has entered into an agreement with Canamens Limited and Sector Spesit IV, to cancel future royalty payments.Says this is due to them from production from Roxi's BNG asset in return for the issue of 46,661,654 fully paid ordinary shares representing 5 pct of the enlarged issued ordinary share capital.  Full Article

Roxi Petroleum updates on sale of Galaz
Friday, 12 Jun 2015 05:05am EDT 

Roxi Petroleum:Extending the completion date of sale of the Company's equity and debt interests in Galaz Contract Area to a consortium led by Xinjiang Zhundong Petroleum Technology Co.Roxi, announces that it has received the repayment of the $6.9 million loan.Says a payment of $27 million to Roxi's subsidiary Galaz Energy BV remains outstanding, of which $16 million will be attributable to Roxi.Says these amounts are expected to be received within the next week.Once received formal completion of the sale will take place.  Full Article

Roxi Petroleum PLC updates on sale of Galaz
Wednesday, 20 May 2015 08:30am EDT 

Roxi Petroleum PLC:Says sale of the Company's equity and debt interests in the Galaz Contract Area to a consortium led by Xinjiang Zhundong Petroleum Technology Co, a Chinese publicly traded conglomerate, is proceeding as planned and is now expected to complete by May 31.Following the recent rise in the price of Brent crude the total proceeds of Galaz Disposal will now be $100 million and the net proceeds attributable to Roxi will now be approximately $23 mln.Says $2 million of the aggregate purchase consideration will be retained by the purchaser for a period of 12 months to cover warranty claims individually greater than $50,000.Roxi's share of this retention will be $0.68 million.Says once received, Roxi plans to use the proceeds of the Galaz Disposal to fund all of the planned development in 2015 at the Company's flagship asset.  Full Article

Roxi Petroleum Plc updates on extension to the date for completion of the sale of Galaz
Thursday, 30 Apr 2015 02:00am EDT 

Roxi Petroleum Plc:Updates the investors in connection with the previously announced disposal of its interests in the Galaz Contract Area, the second of the Company's principal assets.The parties to the transaction have agreed to extend the deadline for completion of the sale of the company's equity and debt interests in the Galaz Contract Area from April 30 until May 20.  Full Article

Roxi Petroleum Plc announces subscription agreement
Friday, 17 Apr 2015 02:00am EDT 

Roxi Petroleum Plc:Entered into a subscription agreement to raise $20 mln at above the current market price.Entered into a Subscription Agreement with BOCO (H.K.) Limited, (BOCO) , whereby BOCO will subscribe for 75,585,790 new ordinary shares at a price of 18 pence per share.This represents a premium of about 16 pct to the closing mid- market price on April 16.On completion BOCO will hold about 7.87 pct of the enlarged share capital.Roxi intends to use the proceeds of the BOCO subscription to accelerate the development of its BNG asset.  Full Article

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