25 May 2012

Maple clinches rig deal

17/03/2009 Robert Tyerman

Peru-focused Maple Energy has completed an $18.87 million (£13.5 million) drilling rig sale and leaseback financing.

Based in Lima and quoted there and on AIM, the company has obtained the facility from leading Peruvian bank Banco Internacional del Peru to finance the acquisition of the Maple Rig, a 2,000 horsepower heli-transportable diesel-electric drilling rig, which it bought for $16 million plus value added tax. Under the deal, Maple, which intends to use the rig to drill two prospects, Santa Rosa and Cashiboya Deep, in its Block 31-E property, will pay the bank an interest rate of 13 per cent and make a down payment of 30 per cent of the value of the facility when it draws it down.

Maple, which is involved in power distribution and ethanol projects as well as oil and gas exploration gas production, raised £12.83 million last May at 160p. The shares then surged to 321p, but fell back to 82.5p, 1.5p below their 2007 AIM float price, before rallying to 108.5p, where they value the company at nearly £98 million.

Growth Company Investor is the UK’s leading authority on small-cap and AIM companies. You can gain immediate access to all the recent share recommendations with no obligation, with a free 30-day trial. Click here to join today.

Sector: Oil & Gas Producers

Companies: Maple Energy

Achieve impressive returns

Gain instant access to some of the best-performing and fastest growing companies in the small cap arena

Click here

Achieve impressive returns on the go

Gain instant access to some of the best-performing and fastest growing companies in the small cap arena. Sign up NOW!

Institutional Investors in AIM 2011 - New Report

This unique study analyses the shareholdings of companies listed on AIM, extracting trends including rankings of the value and number of their investments.
Please click here to order your copy of the report or call 0207 250 7056.

Coverage of AIM, techMARK and PLUS Markets

Informative features and research on fast-growing companies, small-cap and growth stocks, penny shares, stock market tips and share recommendations, directors' dealings, company news and analysis, new issues and upcoming IPOs.

If you're interested in business tax updates visit our specialist tax guide website.

Latest small-cap and growth company news

Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.

Popular News

Acquisition   Acquisitions   Aim   Aim Market   Boardroom Moves   Breaking-even   British Technology   Cash   China   Commodities   Credit Crunch   Deals & Contracts   Debt   Dividend   Emerging Markets   Full List   Fundraisings   Gold   Growth Company   Growth Stocks   Loss Making   Main Market   Mergers & Acquisitions   New Issues   Penny Shares   Placing   Plus Markets   Profit Warning   Restructuring   South Africa   Speculative Punts   Technology   Trading Update   Turnaround   Undervalued  

Latest News

Gulf starts at Sheikh Adi-2 25/05/2012

Iraq-focused oil explorer Gulf Keystone Petroleum (GKP) has begun drilling at the Sheikh Adi-2 well in the Sheikh Adi block.

Tags: Doing business in Iraq, Drilling on AIM, Oil on AIM

Sector: Oil & Gas Producers

Companies: Gulf Keystone Petroleum

Shell considers Cove 24/05/2012

Oil giant Shell is extending its offer period for Mozambique-focused Cove Energy (COV) after having its bid trumped by Thai government-owned PTT Exploration & Production.

Tags: Bid trumped, Doing business in Mozambique, Oil giants on AIM, Takeovers and bids

Sector: Oil & Gas Producers

Companies: Royal Dutch Shell 'A' , Cove Energy

Roxi reaches 1,360 metres 23/05/2012

Kazakhstan-focused Roxi Petroleum (RXP) has declared that its NK7 well in the Galaz aea has drilled to a depth of 1,360 metres.

Tags: AIM ventures, Doing business in Kazakhstan, Oil on AIM

Cluff Natural Resources joins AIM 22/05/2012

Steered by sector veteran Algy Cluff, North-Sea focused cash shell Cluff Natural Resources (CNR) has joined AIM.

Tags: Entrepreneurs on AIM, Gold mining, Oil and gas on AIM

Red Emperor exercises Shabeel 21/05/2012

Somalia-focused oil explorer Red Emperor Resources (RMP) has exercised its option to take part in the drilling of the Shabeel North well.

Tags: Business in the Puntland, Doing business in Somalia, Drilling for oil & gas, Oil on AIM

Sector: Oil & Gas Producers

Companies: Red Emperor Resources

Heritage happy in Iraq 18/05/2012

Oil concern Heritage Oil (HOIL) has reported its Miran West-3 well in Iraq could deliver 1,000 barrels per day of condensate.

Tags: Doing business in Iraq, Oil on the full list, Oil production, Target depth

Sector: Oil & Gas Producers

Companies: Heritage Oil

More News

Sectors

Aerospace & Defence   Alternative Energy   Automobiles & Parts   Banks   Beverages   Chemicals   Construction & Materials   Electricity   Electronic & Electrical Equipment   Equity Investment Instruments   Financial Services   Fixed Line Telecommunications   Food & Drug Retailers   Food Producers   Forestry & Paper   Gas, Water & Multiutilities   General Financial   General Industrials   General Retailers   Health Care Equipment & Services   Household Goods   Industrial Engineering   Industrial Metals   Industrial Transportation   Leisure Goods   Life Insurance   Media   Mining   Mobile Telecommunications   Nonequity Investment Instruments   Nonlife Insurance   Oil & Gas Producers   Oil Equipment, Services & Distribution   Personal Goods   Pharmaceuticals & Biotechnology