Oil / Gas Exploration / Production

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FX Energy Inc announces pricing of public offering of series B preferred stock

Thursday, 10 Jul 2014 05:46pm EDT

FX Energy Inc:Prices underwritten public offering of 800,000 shares of 9.25 pct Series B Cumulative Convertible Preferred Stock at a public offering price of $25.00 per share.Holders of Series B Preferred Stock may convert their shares, in whole or in part, into shares of company's common stock at conversion price of $5.00 per share.Company may cause conversion of th Series B Preferred Stock if trading price of common stock exceeds $6.00 for 20 trading days in any consecutive 30-trading-day period.Gross proceeds to company are expected to be about $20 mln before deducting underwriting discount and other estimated offering expenses payable by company.Offering is expected to close on or about July 17, 2014.In connection with offering, company intends to grant underwriters 30-day option to purchase additional shares of Series B Preferred Stock to cover over-allotments, if any.Company intends to use net proceeds from the offering primarily to fund seismic and new drilling costs near its Tuchola prospect, Poland, where the Company holds 100% working interest in 730,000 acres.

Memorial Production Partners LP announces pricing of public offering of common units

Thursday, 10 Jul 2014 09:07am EDT

Memorial Production Partners LP:Prices public offering of 8,600,000 common units representing limited partner interests in MEMP for total gross proceeds (before underwriting discounts and estimated offering expenses) of about $193.5 mln.Says it has granted the underwriters a 30-day option to purchase up to an additional 1,290,000 common units.Offering is expected to close on July 15, 2014, subject to customary closing conditions.Intends to use the net proceeds from the offering to repay a portion of the outstanding borrowings under its revolving credit facility.Citigroup and Barclays are acting as joint book-running managers for the offering.

Bonavista Energy Corp announces closing of bought deal financing and Ansell area asset acquisition

Thursday, 10 Jul 2014 08:40am EDT

Bonavista Energy Corp:Completed its previously announced bought deal financing for gross proceeds of about $201 mln.Pursuant to offering issued 12,100,000 common shares at price of $16.60 per common share through syndicate of underwriters.Underwriters led by CIBC and including RBC Capital Markets, Scotiabank, TD Securities Inc., BMO Capital Markets, National Bank Financial Inc., Peters & Co. Ltd, AltaCorp Capital Inc. and FirstEnergy Capital Corp.Portion of proceeds were used to fund Bonavista's acquisition of certain natural gas weighted assets in Ansell area of Deep Basin Core Area, which was completed on July 7.

Elkwater Resources Ltd closes private placement

Thursday, 10 Jul 2014 08:15am EDT

Elkwater Resources Ltd:Closed the private placement, issuing an aggregate of: 60,000,000 units at a price of C$0.10 per unit.190,000,000 common shares at a price of C$0.10 per common share, for aggregate gross proceeds of C$25 million to the new management team and other individuals identified by the new management team.Each Unit is comprised of one common share and one common share purchase warrant.Each warrant entitles the holder thereof to purchase one common share at a price of C$0.12 until July 9, 2019.

Regal Petroleum announces change of auditor

Thursday, 10 Jul 2014 02:00am EDT

Regal Petroleum PLC:Appoints PricewaterhouseCoopers LLP as new auditor to succeed Deloitte LLP.

Volga Gas plc announces adoption of dividend policy

Thursday, 10 Jul 2014 02:00am EDT

Volga Gas plc:Board has decided to adopt policy to distribute about 50 pct of consolidated net profit after tax as cash dividend.It is intention that this should be progressive dividend which can be sustained and increased in line with future growth in profits of Group.Board anticipates announcing an interim dividend together with publication of Group's financial results for six months to June 30, currently expected to be on or around Sep. 18.

Oando Energy Resources Inc reduces debt through conversion of Oando Plc loan to equity

Wednesday, 9 Jul 2014 09:45pm EDT

Oando Energy Resources Inc:Says conversion to equity of principal in amount of $168 mln, interest in about amount of $ 2.9 mln and fees in amount of $48 mln outstanding under $1.2 bln facility agreement dated Feb. 10 with Oando Plc.Aggregate principal amount of about $431mln remains available to be drawn under Oando Loan.Issues 150,075,856 units to Oando Resources Limited wholly-owned subsidiary of Oando Plc, as repayment of amounts outstanding under Oando Loan for conversion price of C$1.57 per Unit.Each unit consists of one common share of company and one-half of one warrant to purchase an additional Common Share at price of C$ 2.00 per Common Share.For period of 24 months from date on which company closes acquisition of Nigerian upstream oil and gas business of ConocoPhillips.Prior to completion of conversion, Oando Plc owned, and exercised control or direction over, 527,887,867 common shares, representing about 92.0 pct.As result of conversion, Oando Plc currently beneficially owns, or exercises control or direction over, 677,963,723 common shares, representing about 93.7 pct.Amounts owing under Oando Loan in future may be converted into units at conversion price of C$1.57 per unit, as result of such conversion, aggregate beneficial ownership and control by Oando Plc and related parties over voting securities of Oando Energy Resources does not exceed 94.6 pct.These conversions may be completed until July 20 or such later date as may be permitted by Toronto Stock Exchange.

Eaglewood Energy Inc announces completion of acquisition by Transform Exploration Pty Ltd

Wednesday, 9 Jul 2014 08:33pm EDT

Eaglewood Energy Inc:Says completion of Transform Exploration Pty Ltd.'s previously announced acquisition of all of the outstanding Eaglewood common shares pursuant to arrangement under Business Corporations Act (Alberta) (arrangement).Under arrangement, which was approved by Eaglewood shareholders on July 8, Eaglewood shareholders received $0.38 cash for each Eaglewood common share.It is anticipated that Eaglewood common shares will be delisted from trading on TSX Venture Exchange within two business days from date hereof.FirstEnergy Capital Corp. acted as exclusive financial advisor to Eaglewood with respect to arrangement.

Pakistan Petroleum Ltd announces appointment of chief executive / managing director

Wednesday, 9 Jul 2014 08:00pm EDT

Pakistan Petroleum Ltd:Says Arshad Mirza has been appointed as chief executive / managing director with effect from July 8 in place of Asim Murtaza Khan.

Sun Resources NL announces resignation of managing director

Wednesday, 9 Jul 2014 07:12pm EDT

Sun Resources NL:Says that Govert van Ek has advised Sun of his resignation for personal reasons effective July 10.van Ek, an engineer by profession, has served as managing director and ceo of Sun since March 20, 2013.Matthew Battrick, general manager (technical) has agreed to assist the company as interim CEO while search for permanent replacement is conducted.


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Provider: Edison Investment Research
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Provider: Edison Investment Research
Provider: Edison Investment Research
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