Angus Energy is looking to borrow up to £12m to redevelop the Saltfleetby gas field in Lincolnshire.
UK Oil & Gas said today it would reperforate the Portland section of its first well at the Horse Hill oil site in Surrey.
The number of shares in the onshore operator, UK Oil & Gas plc, has risen to 7.8 billion, up by more than a quarter since August 2019.
Shares in Angus Energy rose this morning as the company announced it had taken out a £1.4m loan with a property company.
The gas production company, Third Energy, formerly owned by Barclays, has been released from a loan of more than £80m, according to its accounts.
UK Oil & Gas, the company behind the Horse Hill oil site in Surrey, has issued a total of 348 million shares in the past week.
Angus Energy has outlined plans for the Saltfleetby gas site in Lincolnshire after approval of its acquisition of a 51% stake.
Angus Energy has raised a £1.5m loan facility to pay for the costs of decommissioning oil and gas wells.
Two shareholders in Angus Energy have called a general meeting in a bid to remove the managing director, Paul Vonk, from the board.
The exploration company, Rathlin Energy, owed nearly £34m, according to annual accounts published yesterday (7 November 2018).