Oriole Resources plc aims to secure US$1 million investment for exploration on its five gold licences in the eastern Central Licence Package, central Cameroon. TERMS The company said it was transferring its 90% project interest into a sub-holding company, NewCo, to enable the investment and advance exploration while minimising equity dilution for shareholders. Oriole has […]
Author: editorial
UKOG tests for light oil accumulation in Pinarova-1
UK Oil & Gas plc has started testing its working hypothesis that the Pinarova-1shallow oil exploration well is connected to an underlying accumulation at the site in Turkey. OPERATIONS The 50-50 joint venture with operator Aladdin Middle East involves drilling a 12¼ inch diameter hole down to the first casing point at a depth of […]
Block signs MoU to develop West Rustavi
Block Energy plc has signed an agreement for government to support the company’s operational development, particularly the concept of a long-term offtake agreement at West Rustavi in Georgia. MEASURES The memorandum of understanding with the Ministry of Economy and Sustainable Development covers initiatives during Projects I, II, III and IV. Measures include data sharing, co-operation and […]
Anglesey Mining prepares EIA for Parys
Anglesey Mining plc expects to submit an environmental impact assessment (EIA) and revise existing permissions for its Parys Mountain copper-zinc-lead-gold-silver project. LEGISLATION Changes in the Town & Country Planning Act and environmental legislation have been made since the company received approval for several existing planning permissions, valid until 2028. To gain consents for the former […]
Tungsten West raises £6.95m via CLNs
Tungsten West plc has raised £6.95 million from placing convertible loan notes (CLNs) as part of its fundraise of up to £9m for Hemerdon tin-tungsten mine in Devon. LIABILITIES The company said that the conditional placing with investors was oversubscribed. Tungsten West still has to hold an open offer to raise up to a further […]
JOG agrees 50% farm-out with NEO for Greater Buchan
Jersey Oil & Gas plc (JOG) has agreed a 50% farm-out with NEO Energy for the Greater Buchan area (GBA) licences in the North Sea. TRANSACTION TERMS The GBA comprises P2498 and P2170 licences, which contain the Buchan oil field, the J2 and Verbier oil discoveries and a number of exploration prospects. JOG said that […]