Riverfort Global Opportunities (RGO)

Sector:

Financials

Index:

FTSE AIM All-Share

 0.075p
   
  • Change Today:
      0.000p
  • 52 Week High: 0.097
  • 52 Week Low: 0.065
  • Currency: UK Pounds
  • Shares Issued: 6,789m
  • Volume: 0
  • Market Cap: £5.09m
  • RiskGrade: 580

Paternoster teams up with Littoral Oil and Gas for new project in Algeria

Date: Tuesday 02 Jun 2015

LONDON (ShareCast) - AIM-listed Paternoster Resources shares got a boost on Tuesday after it announced a deal with Littoral Oil and Gas for a new project.
The two firms will jointly evaluate, acquire and develop oil and gas assets, beginning in Algeria.

Littoral has spent the past year evaluating existing subsurface data over the area. The firm has incorporated a new company, Atlas Oil and Gas, which will be 90% owned by Paternoster.

"Using Paternoster's corporate experience and Littoral's North African expertise, we will work together to acquire assets in known, hydrocarbon-producing basins," it said.

The move is part of the Paternoster's strategy of investing to create companies that can acquire and secure material assets, then progress as independent entities.

They selected Alergia based on its stability, contract terms and infrastructure and area planning to put their operational emphasis on leveraging technology to keep production costs down, with a quicker path to production and revenues.

It anticipates that only "minimal" funds will be required to assess each asset before deciding whether to make an investment, which it will fund through existing resources.

"This is a great opportunity for Paternoster to get a foothold in the exciting North African oil sector, with partners who have a good deal of experience in the region," said chairman Nicholas Lee.

"Through working with Littoral, Paternoster will be able to identify assets in North Africa at an early and low cost stage and then, as appropriate, position them to move rapidly up the valuation curve whether through public or private markets as the company has done with a number of its other investments."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

RGO Market Data

Currency UK Pounds
Share Price 0.075p
Change Today 0.000p
% Change 0.00 %
52 Week High 0.097
52 Week Low 0.065
Volume 0
Shares Issued 6,789m
Market Cap £5.09m
RiskGrade 580

RGO Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
55.2% below the market average55.2% below the market average55.2% below the market average55.2% below the market average55.2% below the market average
58.9% below the sector average58.9% below the sector average58.9% below the sector average58.9% below the sector average58.9% below the sector average
Income Not Available
Growth
72.61% above the market average72.61% above the market average72.61% above the market average72.61% above the market average72.61% above the market average
75.21% above the sector average75.21% above the sector average75.21% above the sector average75.21% above the sector average75.21% above the sector average

RGO Dividends

No dividends found

Trades for --2020

Time Volume / Share Price
0 @ 0.000p

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