Oil price, Hurricane, Coro, Echo, Trinity, Advance Energy. And finally…
Oil is unchanged this morning but was up last week, WTI by $3.81 and Brent $3.82, some 6.4% and 6.1% respectively. This was because, as noted at the time all the economic data from the US and pretty much from China was overwhelmingly positive.
WTI $63.13 -33c, Brent $66.77 -17c, Diff -$3.64 +16c, NG $2.68 +2c, UKNG 52p +1p
Oil price
Oil is unchanged this morning but was up last week, WTI by $3.81 and Brent $3.82, some 6.4% and 6.1% respectively. This was because, as noted at the time all the economic data from the US and pretty much from China was overwhelmingly positive. In the US the vaccine programme is kicking in very strongly as it has in the UK and as and when other Governments around the world pull their fingers out and cut the dogma and get the jabs in the better it will be.
19 April 2021 | 09:52am
StockMarketWire.com - Energy company Advance Energy said it had completed the acquisition of a 50% stake in Carnarvon Petroleum Timor Unipessoal Lda.
Carnarvon Petroleum Timor, hold a 100% working interest in, and is the contractor of, the Buffalo PSC, offshore Timor-Leste. Under market rules, the acquisition constituted a reverse takeover of the company.
On admission - of the 840,100,000 placing shares used to fund the subscription by Advance Energy for equity in Carnarvon Petroleum Timor - completion of the Buffalo subscription agreement would become effective in escrow following completing of the acquisition, expected in 21 April.
At 9:52am: [LON:ADV] share price was 0p at 0.24p
IN BRIEF: Advance Energy completes purchase of 50% stake in Carnarvon lse.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lse.co.uk Daily Mail and Mail on Sunday newspapers.
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Further to the Company s announcement on 14 April, noting the announcement by CPI Property Group S.A. and Aroundtown SA of a firm intention to make a cash offer for the Company, the Company has formed an independent committee of the Board in order to evaluate the Offer.
19 April 2021
Dish of the day
Advance Energy (LON:ADV) completed an RTO on AIM indirectly acquiring of 50% of Carnarvon Petroleum Timor which holds a 100 per cent. working interest and is the contractor under the Buffalo PSC, offshore Timor-Leste. Carnarvon Petroleum Timor is a subsidiary of ASX listed company, Carnarvon Petroleum Limited. The net proceeds of the Placing of approximately £20.01m (approximately US$27.51m) will be used to fund the Acquisition. Due 19 April.
Advance Energy really pleased to complete Buffalo acquisition after such an unprecedented year
Advance Energy PLC s (LON:ADV) Leslie Peterkin talks to Proactive London about the completion of the acquisition of an interest in the Buffalo PSC, offshore Timor-Leste.
The transaction, which constitutes a reverse takeover, sees the company acquire a 50% stake in the Carnarvon Petroleum Timor vehicle which owns 100% of the Buffalo PSC.
Peterkin says having completed this deal after such an unprecedented year is testament to Advance s track record .
Quick facts: Advance Energy PLC
Price: 2.2 GBX