Rockhopper Exploration plc has secured a two-year extension to its licences in the North Falkland Basin. TRANSACTION The additional period was granted as part of the transaction, expected to complete during Q3 2022, of the change in companies involved in the project. Rockhopper added that the Falkland Islands Government and the UK Secretary of State had received […]
Author: editorial
Block starts Project II to deepen existing oil well in undrained reservoir
Block Energy plc plans to deepen an existing oil well in Block XIB as the company begins the second of its three-project strategy in Georgia. PROJECT II Project II involves the re-development of the Patardzeuli Middle Eocene reservoir. The company will drill well JSR-01DEEP by September using cash generated from operations. Project II will run […]
Moody’s raises ratings for Neptune Energy
Neptune Energy said that Moody’s Investors Service had upgraded Neptune Energy Group Midco Ltd to Ba2 from Ba3. The Moody’s also upgraded Neptune Energy Bondco plc’s existing $850 million senior notes due in 2025 to Ba3 from B1. The oil exploration and development company added that its outlook has changed to stable from positive.
Neptune drills development wells on Fenja
Neptune Energy said it had successfully drilled four development wells ahead of the start of production on the Fenja field in the Norwegian Sea. PRODUCTION The operator said that completion of the four wells marked an important milestone in the development of Fenja, which is scheduled to come on stream in the first quarter of […]
Prospex Energy raises £1.87m through loan notes
Prospex Energy plc has raised £1.87 million via the issue of unsecured convertible loan notes to further the Selva gas discovery (37%) on the Podere Gallina permit in the Po Valley, Italy. TERMS A total of 27 individual subscribers include all four current directors and one former director of the company. The loan notes are […]
Union Jack hits $8m profit at Wressle
Union Jack Oil plc said it had achieved material net revenues of US$8 million since restart of production in August 2021 from the Wressle hydrocarbon joint venture in North Lincolnshire. JOINT VENTURE Union Jack holds a 40% economic interest in the development which lies within licences PEDL180 and PEDL182. Partners include operator Egdon Resources plc […]