First Class Metals plc (FCM) has signed an earn-in agreement with Nuinsco Resources Ltd for a new lithium project in northwest Ontario, Canada. STRATEGIC The deal, first announced in December 2022, is for Zigzag which lies less than 100km from Armstrong in the Seymour Lake area close to current and future planned key infrastructure. The […]
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Block completes farm-out for part XIB
Block Energy plc has completed the farm-out to Georgia Oil and Gas Ltd (GOG) of part of licence XIB in Georgia. RESOURCE The transaction, announced in December 2022, results in the company now holding a 50% interest in the new Didi Lilo and South Samgori areas of XIB. Block said that GOG had completed the seismic activities agreed under […]
Angus losses rise due to derivative instrument
Angus Energy plc’s rise in losses could see it raise further funds for its onshore oil and gas assets in the United Kingdom. FINANCES The company’s audited annual accounts for the year ended 30 September 2022 showed losses of £111.947m, which included a derivative loss of £110.309m in relation to the derivative instrument, resulting in […]
Predator signs binding deal for Cory Moruga
Predator Oil & Gas Holdings plc has signed a binding agreement with Challenger Energy Group plc to acquire the Cory Moruga licence, onshore Trinidad. UNREALISED POTENTIAL The fully termed long-form legal deal was initiated in December 2022, following a dispute between the companies. The terms remain unchanged including Predator’s 100% acquisition of the issued share […]
Europa notes lower Inishkea emissions forecast
Europa Oil & Gas (Holdings) plc said an independent study showed lower emissions from development of 1 trillion cubic feet gas on its Irish offshore licence than imported gas. COMPARISONS The Inishkea prospect within FEL 4/19 in the Slyne basin and near the Corrib field is the company’s flagship project in Ireland. The report was […]
Angus fully commissions second compressor
Angus Energy plc reported that the second compressor was now fully commissioned and processing gas for export at Saltfleetby in east Lincolnshire. MAINTENANCE “Well completion continues on the sidetrack well SF7V with clean-up work awaiting coiled tubing due late March,” added the company. “The intervening time window offers a useful opportunity to perform regular maintenance […]