TAG Oil Ltd. (TAO.TO) and (TAOIF), reports that it has acquired 25,975,000 common shares in the capital of Coronado Resources Ltd. (CRD.V) pursuant to a private placement by Coronado, at a price of $0.12 per common share. The common shares acquired by TAG pursuant to the Private Placement represent approximately 40.2% of Coronado's issued and outstanding common shares.
TAG did not own any securities of Coronado prior to the Private Placement.
The common shares acquired by TAG pursuant to the Private Placement were acquired for investment purposes and TAG may, depending on market and other conditions, increase or decrease its beneficial ownership of common shares or other securities of Coronado whether in the open market, by privately negotiated agreement or otherwise.
No person is acting jointly or in concert with TAG in connection with the purchase of the common shares.
Recommended Reading
Seadrill Awarded $97.5 Million in Drillship Contracts
2024-01-30 - Seadrill will also resume management services for its West Auriga drillship earlier than anticipated.
TotalEnergies Starts Production at Akpo West Offshore Nigeria
2024-02-07 - Subsea tieback expected to add 14,000 bbl/d of condensate by mid-year, and up to 4 MMcm/d of gas by 2028.
Well Logging Could Get a Makeover
2024-02-27 - Aramco’s KASHF robot, expected to deploy in 2025, will be able to operate in both vertical and horizontal segments of wellbores.
Shell Brings Deepwater Rydberg Subsea Tieback Onstream
2024-02-23 - The two-well Gulf of Mexico development will send 16,000 boe/d at peak rates to the Appomattox production semisubmersible.
E&P Highlights: Feb. 26, 2024
2024-02-26 - Here’s a roundup of the latest E&P headlines, including interest in some projects changing hands and new contract awards.