UK Oil & Gas plc (UKOG) plans a conventional cased hole flow test after drilling reached final depth of 600 metres below surface in the Pinarova-1 exploration well in Turkey. OIL ODOUR Pinarova-1, 6km north of the Basur-1 oil discovery, is testing whether the Pinarova structure is directly connected to a 9km² underlying light oil […]
Author: editorial
Galantas to extend loans after losses rise
Galantas Gold Corporation aims to extend its current loans after it recorded more than a three-fold increase in losses at Cavanacaw gold mine in Omagh, Northern Ireland. FINANCES For the year ended 31 December 2022, Galantas’ financial statement showed net loss rose to C$16,633,939 due to a property, plant and equipment impairment of $10,124,920 (2021: loss […]
Hurricane ‘highly confident’ of full shareholder dividend
Hurricane Energy plc expects to pay full dividends following the 34th cargo of oil, totalling approximately 541 Mbbls, lifted last week from the Lancaster field, West of Shetland. ACQUISITION The cargo was priced at $82 per barrel, resulting in net revenue of c. $43 million. Hurricane said that the two liftings in 2023, totalling 1,041 Mbbls, have […]
Hummingbird begins commissioning Kouroussa plant
Hummingbird Resources plc has started commissioning of the processing plant ahead of first gold pour this quarter at Kouroussa open pit gold mine in Guinea. PREPARATIONS The high grade gold mine, at over 4 g/t, is the company’s second operating gold asset in West Africa, after Yanfolila in Mali. Hummingbird said that practical completion on […]
IOG appoints Esa Ikaheimonen as interim chair
IOG plc has appointed Esa Ikaheimonen as chair, initially on an interim basis, following today’s company general meeting. He replaces Fiona MacAulay who has retired from the post. Mr Ikaheimonen has been the company’s senior independent non-executive director since March 2019 and is at present chair of the audit committee. He has 30 years’ oil […]
IOG chair and director Fiona MacAulay retires
IOG plc director and chair Fiona MacAulay has retired, as the company previously announced, following its general meeting today. Ms MacAulay said it had been a real honour to serve as chair of IOG as the company grew from an unfunded concept into the UK’s newest gas producer. “The journey has not been without its […]