Reabold Resources plc said that the Environment Agency had approved the use of oil-based drilling fluids during drilling and testing the West Newton B-2 well. FUNDING The variation of the permit for the West Newton B well site allows joint venture partner and operator Rathlin Energy (UK) Ltd to use oil-based fluids within the Permian […]
Author: editorial
Prospex issues 14m shares to settle £642,000 CLNs
Prospex Energy plc has issued just over 14 million new ordinary shares to settle £642,000 in convertible loan notes (CLNs) from last year. The company yesterday received notices to convert £453,562.27 in four CLNs in exchange for 10,672,055 new ordinary shares of 0.1p each in the company. The CLNs, issued in July 2022, are convertible […]
WR-34Z begins production ahead of KRT-45Z drilling at West Rustavi-Krtsanisi
Block Energy plc has started production from its third well, in the first of three projects, and is preparing to drill the fourth on the West Rustavi-Krtsanisi field, Georgia. TEST RESULTS The company said that the WR-34Z development well had been in continuous production for more than 19 days with test results showing an average […]
Golden Metal NED Scott Richardson Brown steps down
Golden Metal Resources plc non-executive director Scott Richardson Brown has stepped down. Mr Brown helped guide the company through the admission process and the transition to a public company. “I would like to thank Scott on behalf of the board and all the shareholders for his valuable advice during his time with the company,” said […]
Baron pursues Chuditch-1 as losses double
Baron Oil plc has doubled losses while remaining focused on appraising the Chuditch gas discovery in Timor-Leste and expanding its operations. DRILL DECISION Six months to 30 June resulted in a net loss of £847,000 (H1 2022: net loss of £419,000). Administrative expenses rose to £778,000 (£497,000) and operating losses increased to £925,000 (420,000). Available cash nearly doubled […]
Kavango extends Botswana exploration footprint
Kavango Resources plc has created a single expanded exploration area in Botswana by adding a 90% interest in six further licences in the Kalahari copper belt (KCB). DOMAL STRUCTURES The licences are next to the company’s Karakubis and South Ghanzi blocks, collectively forming a contiguous exploration area next to the Namibian border. Kavango said it […]