Power Metal Resources plc has sold its entire holding of 69,500,000 shares in Kavango Resources plc at 0.8p per share for £556,000. JOINT VENTURE Power Metal and Kavango previously held a two-year strategic joint venture of Kanye Resources. In July 2022, Kavango said it intended to regain control of its interests by issuing 60 million […]
Author: editorial
Biscathorpe JV wins appeal for side-track
Egdon Resources Ltd and its partners have won an appeal for side-track drilling operation, testing and long-term oil production at the Biscathorpe-2 well site in the Lincolnshire Wolds. POTENTIAL PEDL253 holders Union Jack Oil plc (45%), operator Egdon (35.8%) and Montrose Industries Ltd (19.2%) secured permission after Lincolnshire County Council last year rejected their application. […]
Kavango Resources directors buy 69.5m shares
Kavango Resources plc reported the purchase of a total 69.5 million ordinary shares in two directors’ dealings. Non-executive director Peter Wynter Bee purchased 63,250,000 each at 0.8p and chief executive officer Ben Turney bought 6,250,000 shares at the same price. The company’s current interests are copper in Botswana and gold in Zimbabwe.
Neptune notes starts of oil production from Seagull
Neptune Energy reported the start of oil production from the joint venture Seagull field in the UK North Sea. INNOVATIVE The four-well subsea tie-back project re-uses existing facilities on the Heron pipeline hosted by the BP’s 25-year-old operated eastern tough area project central processing facility in the central North Sea. Project partners comprise Neptune (35%), […]
Cornish Metals appoints CFO Matthew Hird as a director
Cornish Metals has appointed its chief financial officer Matthew Hird as a director. Companies House reported the change effective from 27 October 2023.
Tobias-13 shows potentially ‘significant’ productive zones
The Tobias-13 well has encountered “several potentially productive zones in multiple intervals” in the Kwanza basin, Angola. BINGA RESERVOIR Corcel plc’s joint venture and operator Sonangol (80%) drilled at a downdip location from historic production to the planned depth of 958.5 metres, penetrating the entire Binga reservoir section of a circa 120m column. Results indicate […]