Serica Energy plc has lost its bid to acquire all of BP’s stake in the Culzean gas condensate field after project partner NEO NEXT exercised its pre-emption rights. DISAPPOINTING The 13 October purchase agreement covered a 32% non-operated working interest in UK central North Sea licences P111 and the adjacent P2544, for $232 million cash. […]
Day: 2 December 2025
Redmoor shows new zones of high grade tin-tungsten
Cornwall Resources Ltd reported new zones of high-grade tin and tungsten from its drilling campaign at Redmoor in Cornwall. GLOBAL Assays from drill hole CRD033 include 2.00 metres at 1.06% tin from 231.90m. The results allow the company to restate sampled intersections, adding a tungsten trioxide equivalent. Results now include 2.00m at 4.04% tungsten trioxide equivalent […]
EnQuest secures $800m financing deal
EnQuest plc has signed new six-year, senior secured reserves based lending facilities for an aggregate $800 million (£608m) with a syndicate of eight “leading international banks”. STRATEGY The syndicate financing the facilities includes “long-standing existing lenders and high-quality new relationships”. The sum comprises a $400m secured revolving loan, a $400m secured revolving letter of credit, […]
Petrel appoints John Teeling as chairman
Petrel Resources plc has appointed John Teeling as non-executive chairman and James Finn as board executive director, both with immediate effect. The appointments follow the death last month of former chairman David Horgan. Mr Finn, who holds holds 13,618,718 ordinary shares in Petrel, is also a director or partner in 42 other companies including Arkle […]