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PA Resources files petition to extend corporate reorganisation

Thursday, 17 Sep 2015 10:04am EDT

PA Resources AB:PA Resources AB has filed a petition with the Stockholm District Court to extend the corporate reorganisation with a further three months.

North Energy announces further extensive cost cuts

Wednesday, 16 Sep 2015 06:00am EDT

North Energy ASA:Announces further extensive cost cuts.Persistent difficult market conditions underlie decision to make further savings.Annual operating costs for company will thereby be reduced to about 10 million Norwegian crowns after tax, with programme taking virtually full effect from 2016.With a significant reduction in costs, limited future commitments and a reported cash position of 260 million crowns at June 30, North Energy is fully funded until further with current activity levels.New cost measures involve further downsizing and concentration of all activities in Oslo.This means that Tromsø and Stavanger offices will be closed.Approved cost cuts will have consequences for a number of employees.Continuing its process of assessing different strategic directions for company.Exploring a number of alternative strategic directions, these include possible mergers and amalgamation.

PA Resources AB says requests composition proceedings

Wednesday, 9 Sep 2015 09:53am EDT

PA Resources AB:Says publishes reorganisation plan and request for composition proceedings.Says composition plan includes that creditors with claims of up to and including 100,000 Swedish crowns are entitled to receive full payment no later than March 26, 2016.Creditors with claims in excess of 100,000 crowns and without a bilateral agreement with the company are entitled to receive the amount of 100,000 crowns as well as an amount corresponding to 25 pct of their claim that exceeds 100,000 crowns by March 26, 2016.

K&O Energy Group to merge with subsidiary

Monday, 10 Aug 2015 03:30am EDT

K&O Energy Group Inc:To merge with its Chiba-based wholly owned subsidiary on Oct. 1.Says the subsidiary will be dissolved after the transaction.

Atlantic Petroleum announces review of strategic alternatives

Monday, 3 Aug 2015 01:00am EDT

Atlantic Petroleum P/F:As part of the strategic review Atlantic Petroleum will consider a full range of options in order to unlock the value underlying the Company's assets.Options include a sale or merger of the Company.Options include a sale, joint venture or partnership in respect of the Company's activities in the United Kingdom and/or Norway.Options include continuing to execute on the Company's strategy as an independent company.Based on its current portfolio and activities, including completion of Orlando field development in UK, Atlantic Petroleum is not financed for its planned activities in 2016.In order to close such funding gap company will consider different ways of strengthening its financial position.This includes raising new equity financing, new debt financing or asset sales or a combination of these measures.

PA Resources AB: District court approves extension of reorganisation

Thursday, 9 Jul 2015 07:30am EDT

PA Resources AB:Stockholm District Court approves extension of corporate reorganisation.On June 25, 2015 PA Resources AB filed a petition with the Stockholm District Court for an extension of its corporate reorganisation.The court approved the petition and extend the corporate reorganisation a further three months until Sept. 28, 2015.

Husky Energy continues to ramp up production at Sunrise energy project

Monday, 6 Jul 2015 07:00am EDT

Husky Energy:Says Husky Energy is continuing to ramp up production at the Sunrise energy project in northeast Alberta.Sunrise production is expected to increase to full capacity of about 60,000 bbls/day around the end of 2016.

PA Resources AB seeks extension of corporate reorganisation process

Thursday, 25 Jun 2015 11:35am EDT

PA Resources AB:Says has filed a petition to extend the corporate reorganisation.Says company believes it needs further time to complete reorganisation.Says has therefore submitted a petition to the Stockholm District Court to extend it with a further three months.

Antrim Energy Inc. announces Well Abandonment Campaign

Monday, 22 Jun 2015 02:00am EDT

Antrim Energy Inc:Says its United Kingdom subsidiary, Antrim Energy (Ventures) Limited, has entered into a contract with Offshore Installation Services Ltd. to permanently plug and abandon Antrim's four suspended subsea wells in the United Kingdom Central North Sea.Says estimated total gross cost for abandonment of Antrim's four wells is GBP 4.75 million, with the estimated net cost to Antrim totaling GBP 1.80 million.

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