News blog

Wessex Exploration

  • BY: Andrew Hore |
  • POSTED: 17/04/2014 |

Wessex Exploration says it is in talks to acquire Far East oil and gas interests.

The prospective offshore asset could commence production in the near-term and it will come with cash to finance contractual drilling costs. The acquisition will be paid for with shares and an experienced and well-known management team will come on board as well. Discussions are described as advanced.

The general meeting requisitioned by former managing director and founder Frederik Dekker and Milroy Capital, which is designed to remove the current directors from the Wessex board, has been convened for 15 May. The acquisition will not go ahead if the resolutions are successful. 

At the end of March 2014, there was £2.15m in the bank.

At 0.59p a share, Wessex is valued at £4.27m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFApril2014_55.pdf

© 2018 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

News Blog
All micro news

Quoted Micro 22 January 2018

AIM Journal has reached its century, and this edition includes PCF, Sumo and the blockchain boom, here.

Continue reading... | 22/01/2018

IXICO

Neuroscience-focused digital data analysis technology developer IXICO is increasing its revenues and this is cutting the reported loss.

Continue reading... | 22/01/2018

RTC Group

Staffing provider RTC Group says that trading is in line with expectations despite some exposure to Carillion.

Continue reading... | 22/01/2018

Distil

Spirits brands owner Distil says third quarter sales increased by 19%.

Continue reading... | 22/01/2018

All micro news

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds