Top 5 Most Read RNS's on Vox Markets for Wednesday 1st March 2023
Episode 1222, Mar 01, 2023, 07:54 AM
Top 5 Most Read RNS's on Vox Markets for Wednesday 1st March 2023
5. Contango Holdings #CGO - Completion of Pilot Coke Plant at Lubu Project
Contango Holdings is pleased to advise that construction of a small-scale coke battery has been completed at the Lubu Coal Project in Zimbabwe.
Following completion of the pilot plant in February 2023, the Company has subsequently produced approximately 4 tonnes of coke, from a sample of washed coking coal from Lubu.
4. EQTEC #EQT - Update on Deeside project share purchase agreement
Further to the Company's announcements, Deeside WTV Limited, a wholly-owned subsidiary of EQTEC, and Logik WTE Limited , a wholly-owned subsidiary of Logik Developments Limited have been unable to meet by the agreed deadline all completion requirements specified under the share purchase agreement signed by the Parties on 07 December 2020.
The SPA remains in force and the Parties continue to discuss constructive options for moving forward with development of the Project.
3. UK Oil & Gas #UKOG - Turkey: Pinarova-1 well update
Drilling rig secured for new Pinarova-1 shallow oil exploration well.
Site construction now expected to start in 7-10 days with an estimated duration of around 14-21 days, given good weather.
Drilling to a total depth of around 500-550m to directly follow site completion, currently expected around end March to early April 2023. Dependent on outcomes, expected drilling campaign duration up to 28 days.
2. Canadian O'Seas Petr #COPL - Covenant Waiver and Operations Update
Covenant Waiver
COPL America has executed a Waiver, with the support of its Lender, pursuant to which the measurement date of its 28 February 2023 liquidity covenant has been extended to 14 March 2023.
Operations Update
The Company has experienced several severe winter storms at its Wyoming operations from late December to late February. That have impacted the production operations at the Company's Barron Flats Shannon Unit and it's Cole Creek field.
1. Harland & Wolff #HARL - Business Update and Outlook
Backlog of confirmed contracted revenues totalling circa £900m, extending over a seven-year period, of which circa £750m is represented by the previously announced FSS contract
o Target revenues of £100m - £115m in FY23
o Target revenues of £200m - £230m in FY24
· Cashflow breakeven expected in FY24
· Target Group blended gross margin of between 24% and 27% over the medium term.
5. Contango Holdings #CGO - Completion of Pilot Coke Plant at Lubu Project
Contango Holdings is pleased to advise that construction of a small-scale coke battery has been completed at the Lubu Coal Project in Zimbabwe.
Following completion of the pilot plant in February 2023, the Company has subsequently produced approximately 4 tonnes of coke, from a sample of washed coking coal from Lubu.
4. EQTEC #EQT - Update on Deeside project share purchase agreement
Further to the Company's announcements, Deeside WTV Limited, a wholly-owned subsidiary of EQTEC, and Logik WTE Limited , a wholly-owned subsidiary of Logik Developments Limited have been unable to meet by the agreed deadline all completion requirements specified under the share purchase agreement signed by the Parties on 07 December 2020.
The SPA remains in force and the Parties continue to discuss constructive options for moving forward with development of the Project.
3. UK Oil & Gas #UKOG - Turkey: Pinarova-1 well update
Drilling rig secured for new Pinarova-1 shallow oil exploration well.
Site construction now expected to start in 7-10 days with an estimated duration of around 14-21 days, given good weather.
Drilling to a total depth of around 500-550m to directly follow site completion, currently expected around end March to early April 2023. Dependent on outcomes, expected drilling campaign duration up to 28 days.
2. Canadian O'Seas Petr #COPL - Covenant Waiver and Operations Update
Covenant Waiver
COPL America has executed a Waiver, with the support of its Lender, pursuant to which the measurement date of its 28 February 2023 liquidity covenant has been extended to 14 March 2023.
Operations Update
The Company has experienced several severe winter storms at its Wyoming operations from late December to late February. That have impacted the production operations at the Company's Barron Flats Shannon Unit and it's Cole Creek field.
1. Harland & Wolff #HARL - Business Update and Outlook
Backlog of confirmed contracted revenues totalling circa £900m, extending over a seven-year period, of which circa £750m is represented by the previously announced FSS contract
o Target revenues of £100m - £115m in FY23
o Target revenues of £200m - £230m in FY24
· Cashflow breakeven expected in FY24
· Target Group blended gross margin of between 24% and 27% over the medium term.