Neptune Energy has awarded a £10 million three-year vessel services contract to Sentinel Marine Ltd, to provide offshore support for the Cygnus gas field in the UK southern North Sea. EMISSIONS The contract, which includes two one-year extensions, allows Sentinel Marine to continue deploying its multi-role, emergency response and rescue vessel Cygnus Sentinel, on the gas […]
Author: editorial
UK Oil & Gas CEO buys further shares in company
UK Oil & Gas plc’s chief executive Steve Sanderson has further increased his share in the company. SHARE PURCHASE PROGRAMME On 25 July, Mr Sanderson bought 942,507 shares in the company at 10.6p each for £99,999. The latest purchase follows a similar move in December 2021, when he purchased 985,221 ordinary shares in the company […]
Helium One in final stages of rig audit
Helium One Global plc is in the final stages of auditing activities for its planned Phase II drilling campaign at its Rukwa (100%) project in Tanzania. RIG AUDIT The company said sub-contractor ADC Energy had completed 80% of an independent audit of the proposed drilling rig in its yard in Kenya. Key components observed in […]
Ascent to receive €1.68m in Slovenia dispute
Ascent Resources plc said it expected to receive €1.68 million hydrocarbon revenues covering 26 months’ operations from its joint venture (JV) within the Petisovci concession area in Slovenia. WELLS PG-10 & PG-11A Ascent holds a 75% interest in the Petišovci project and its JV partner Geoenergo holds the remaining 25%. The revenues are from the […]
IGas repays $4m debt on higher commodity prices
IGas Energy plc has repaid $4 million debt of its reserves-based loan leaving net debt of £8.2m. FLEXIBILITY The company holds $22m (£18.1m) of debt capacity and, as at 29 July 2022, cash balances were £2.4m. “Higher commodity prices continue to drive strong operating cash flow generation giving us financial flexibility,” said chief executive Stephen […]
Altona NED Simon Tucker leaves
Altona Rare Earths plc’s non-executive director (NED) Simon Tucker is to leave to focus on other interests. The company appointed him NED in March 2021.