Resources round-up: Lenigas, Altona, Egdon Resources

Oil explorer Lenigas continued its recent good run after its revealed it has sold its remaining minority in the US Gulf of Mexico.

Oil explorer Lenigas continued its recent good run after its revealed it has sold its remaining minority in the US Gulf of Mexico.

The company is receiving $1.25m for its interests in seven leases which, during 2011, earned £383,000 in revenue for the company and £204,000 in profits. The funds obtained will reduce the needs to source additional capital through the equity or debt markets and will permit Lenigas to actively accelerate the development of its Trinidad portfolio.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.