Kistos Holdings plc has completed its US$111 million acquisition of all the outstanding shares of Mime Petroleum A.S. with assets in the Norwegian Continental Shelf. OBJECTIVES The company said that the purchase adds 24 MMboe of 2P reserves at Balder and Ringhorne, based on the operator’s estimate. An additional 30 MMboe of 2C resources are […]
Author: editorial
Tullow’s partners exit Kenya JV
Tullow Oil plc’s partners TotalEnergies and Africa Oil have withdrawn from the South Lokichar Basin joint venture in Kenya for “differing internal strategic reasons”. OPTIONALITY Tullow said it expected net project 2C contingent resources to increase from 231 mmboe to 461 mmboe, and the group’s total contingent resources from 605 mmboe to 836 mmboe. The […]
Predator receives £50,000 via share options exercise
Predator Oil & Gas Holdings plc has received £50,000 after former director Louis Castro exercised one million share options. The exercise is in accordance with the company’s unapproved share option scheme dated 27 October 2020 to subscribe for 1,650,000 new shares of no par value in the company at 5p per share. Following admission, Predator’s […]
Tai CPR shows 61% rise in unrisked prospective resource
Helium One Global reported a 61% increase in unrisked prospective resources from a new competent person’s report (CPR) for the Tai prospect at Rukwa, Tanzania. COMPETENT PERSON’S REPORT The increase follows more detailed interpretation of additional 2D seismic data acquired across Tai in 2021, and improved understanding of the structural closure. ERC Equipoise Ltd (ERCE) evaluated […]
Golden Metal finds zones of copper anomalies
Golden Metal Resources plc has discovered two zones of “significant” copper anomalies at its Garfield project within the Walker Lane mineral belt in Nevada, USA. EXPECTATIONS The Power Line and High-Grade zones returned individual copper-in-soil results of up to 851ppm and 950ppm copper from high resolution soil sampling results. Golden Metal said that both were […]
Hummingbird starts hot commissioning at Kouroussa
Hummingbird Resources plc has started the hot commissioning phase before planned first gold pour at the Kouroussa gold mine in Guinea. PROCESSING PLANT The company said that Phase I of testing the processing plant’s mechanical, electrical and overall functionality had performed “per design”. First ore was introduced to the circuit at the one million tonne […]