Madagascar Oil threatens delisting as backers play hardball
18th Feb 2016 09:55
(ShareCast News) - Despite being on the verge of securing a crucial project partner, Madagascar Oil has warned it may delist from AIM in order to secure urgently needed funds from its major backers. After the providers of a $22m bridge loan refused to pony-up the final instalment, the oil producer a
Read moreMadagascar Oil works to quash swirling rumours
2nd Feb 2016 16:31
(ShareCast News) - Madagascar Oil's board was working to quash swirling rumours about its activities on Tuesday, as it made efforts to release funds and secure a strategic partner. At 1615 GMT, the AIM-listed firm's shares had jumped 18.52%, to 4p. The company said there had also been speculation on
Read moreMadagascar Oil makes progress in search for partner
7th Sep 2015 13:59
(ShareCast News) - Madagascar Oil said it was continuing to work closely with Jefferies International in its bid to find a strategic partner for the company. The London-listed group said it has received interest from a host of "credible parties" but expects the process to run until the end of the ye
Read moreMadagascar Oil receives market testing approval for its Tsimiroro crude oil
23rd May 2014 08:11
Oil and gas explorer Madagascar Oil said a subsidiary had received government approval for market-testing its Tsimiroro crude oil. The firm's oil was approved on May 21st and will be released for tests in local markets in the second half of 2014. The test is designed to launch Tsimiroro crude as a
Read moreMadagascar Oil narrows H1 losses as Tsimiroro development continues
3rd Sep 2013 07:59
AIM-listed oil and gas group Madagascar Oilmanaged to trim losses in the first half as it continues to develop its Steam Flood Pilot (SFP) at its Tsimiroro project. Most of the period was spent focused on the commissioning of the SFP, the purpose of which is to gather information about how the iden
Read moreMadagascar Oil announces resignation of CEO
19th Jul 2013 14:22
Madagascar Oil's Chief Executive Officer (CEO), Paul Ellis, is stepping down from the role. Ellis was appointed CEO last December to help guide the company through a transitional period. During his time as CEO, the group underwent significant financing and made a number of key management appointme
Read moreMadagascar Oil places 275.24m shares
12th Feb 2013 14:10
Madagascar Oil said Tuesday that 275.24m shares were placed at 18p each following the company's open offer of shares, raising close to 49.5m pounds. The company's issued share capital will consist of 531.37m common shares. Application has been made for the admission of the new shares to AIM. T
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