Angus Energy announced today it had raised just over £3m in a placing of more than 70 million new shares.
The former chair of Angus Energy breached the share dealing code and will not retake his place on the board, the company has announced.
Egdon Resources’ new well at Biscathorpe, near Louth in Lincolnshire, has failed to encounter the oil formation it was targeting, the company said this afternoon.
Two shareholders in Angus Energy have called a general meeting in a bid to remove the managing director, Paul Vonk, from the board.
Europa Oil and Gas, the company behind oil drilling near the Leith Hill beauty spot in Surrey, announced this morning it was pulling out of the site.
Solo Oil has announced it is selling its direct interest in the Horse Hill oil exploration site in Surrey.
The largest investor in the Horse Hill oil well near Gatwick is seeking to change its company status.