HARTSHEAD RESOURCES NL

HARTSHEAD RESOURCES NL (ASX: HHR)

Hartshead Resources is finalizing and submitting the Field Development Plan for Phase I development of Anning and Somerville gas fields to the NSTA.
The Phase 1 Front End Engineering Design (FEED) is now 90% complete, with first gas production targeted for 2025.
Invitations To Tender for Phase 1 platforms and pipeline route surveys are being issued, with a decision for the UK 33rd Offshore Licensing Round expected in H2 2023.

2023-05-23 09:26:00

Hartshead completes Farm-Out Agreement with RockRose Energy, divesting 60% equity interest in UK Southern Gas Basin License P2607.
Gross consideration of approximately A$196.3 million for Phase I provided, with over A$35 million cash balance for Hartshead.
Deal de-risks project and provides pathway to full financing and development, with FEED nearing completion and FDP submission planned this quarter.

2023-05-11 09:02:00

Hartshead Resources NL has executed a binding agreement to farm-out 60% of its UK Southern Gas Basin assets (License P2607) to RockRose Energy for A$196.3m gross value, including A$48.4m of UK government Investment & Capital Allowance.
The farm-out agreement provides a defined and value accretive pathway to production for Hartshead and its South Basin Gas assets.
Hartshead has also received firm commitments for a placement to raise A$20m from institutional and sophisticated investors, which will see the company fully-funded to meet its estimated share of the non-debt project development costs.

2023-04-05 12:49:00

Hartshead Resources has made an agreement with Shell to transport and process Phase I gas production.
The gas will be transported via a Hartshead-owned pipeline, Shell's Southern North Sea infrastructure, and onto Bacton Gas Terminal for processing and delivery to the UK National Gas Transmission System.
The fully termed agreements will include details on any required brownfield modifications as part of the gas offtake route for the Anning and Somerville gas fields.

2023-03-22 09:30:00

Hartshead Resources has commenced a pre-qualification process for an Anning and Somerville gas fields Platform and Jacket EPIC contract.
An initial “Long List” of eight contractors, based in the United Kingdom and European Union, has been compiled.
An ITT will be issued to a shortlist of pre-qualified contractors in Q2 2023, with the expectation of awarding the contract in Q3 2023.

2023-02-24 09:25:00

Hartshead Resources NL has awarded a contract for a Geophysical Survey across the Anning and Somerville fields.
Mobilisation of the Geo Ocean III vessel to the Anning and Somerville field locations is expected to occur during April 2023.
In-situ geotechnical testing and laboratory testing of seabed samples will be conducted, with results forming a critical component of the Environmental Statement.

2023-02-20 08:05:00