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- Ansila Energy (ANA) has entered a share sale agreement to fully acquire its remaining interest in Hartshead Resources or HRL in the U.K.
- Pending shareholder approval, HRL is set to receive five shared blocks in the Southern North Sea region with four existing discoveries totalling 354 billion cubic feet (bcf)
- The formerly named Pura Vida has a multi-phased development planned for the existing gas discoveries, which it hopes to commence by April 2022
- ANA hopes to fund exploration and acquisition via a placement and a $7 million capital raise
- There’s no shortage of security up for grabs, with one billion fully paid shares offered as consideration for the buy and a further 280 million available via the cap raise
- Ansila shares are in the grey, trading at 3.6 cents each
Ansila Energy (ANA) has entered a share sale agreement to fully acquire its remaining interest in Hartshead Resources or HRL in the UK.
Pending shareholder approval, HRL is set to receive five shared blocks in the Southern North Sea region under the U.K. 32nd Offshore Licencing Round. Four of the existing discoveries containing a resource estimate of 354 billion cubic feet (bcf).
ANA will have sole ownership of Hartshead Resources after acquiring the remaining 78.4 per cent interest in the business. According to Ansila, the move could create a new U.K. North Sea Gas company.
The formerly named Pura Vida has a multi-phased development planned for existing gas discoveries, which it hopes to commence by April 2022.
Phase one will target Victoria and Viking Wx fields with the aim of finalising a preliminary field development plan (FDP) and front‐end engineering and design
(FEED) for the aforementioned period.
Phase two is set to commence in Q4 2022, targeting Audrey NW and Tethys North fields.
Ansila shares took a big hit at the beginning of 2020, plummeting 34 per cent after posting an unfavourable update regarding the Siciny-2 well in Poland. The company has since terminated its involvement in the parent Nowa Sol program.
Fundraising
ANA hopes to fund exploration and acquisition via a placement and a $7 million capital raise.
There’s no shortage of security up for grabs, with one billion fully paid shares offered as consideration for the buy and a further 280 million available via an upcoming capital raise.
Consideration shares will be held in voluntary escrow for a period of 12 months from completion, existing directors Christopher Lewis and Andrew Matharu will also be subject to escrow restrictions imposed by the ASX.
Following this purchase, ANA has proposed a placement of up to 280,000,000 shares at 0.025 cents each to professional and sophisticated investors in a bid to raise up to $7 million.
The acquisition is conditional to a number of conditions including receipt of shareholder and regulatory approvals, due diligence and an independent report concluding the acquisition is fair and reasonable.
Ansila shares are in the grey, trading at 3.6 cents each at 11:13 am AEDT.
