Block Energy plc has conditionally agreed to invest in the Ndjila and Mpari production sharing contracts offshore Gabon, through a proposed US$6.3 million (£4.65m) fundraise. POTENTIAL The agreement, which adds to the company’s existing Georgia oil and gas asssets, is with Pilgrim Exploration Ltd whose subsidiaries own a 90% interest in the PSCs. The project […]
Tag: farm-out
Block completes farm-out for XIQ
Block Energy plc has completed the farm-out of licence XIQ, containing the Martkopi Terrace prospect, following approval from the Georgia Government. STRATEGY The transaction with US-based Aspect Energy Group, will see Block fully carried through the staged work, which includes seismic, exploration and appraisal drilling, and early production facilities. Aspect’s subsidiary in Georgia will fund […]
Block agrees Martkopi Terrace licence farm-out
Block Energy plc and its partners have agreed a farm-out to an as yet unnamed “leading E&P company” for licence XIQ, containing the Martkopi Terrace prospect, held within its Georgia portfolio. CONFIDENCE The transaction remains subject to regulatory approval, expected between the final quarter of 2025 and the first quarter of 2026. XIQ is currently […]
Antler signs heads of terms for EG-08
Europa Oil & Gas (Holdings) plc’s associated company, focused on Equatorial Guinea, has signed a tentative farm-out agreement for the offshore EG-08 block production sharing contract. BARRACUDA The investor holds a 42.9% equity in explorer Antler Global Ltd which in turn owns an 80% working interest in the EG-08 PSC. National company Guinea Ecuatorialde Petroleos […]
United secures more time for Walton Morant
United Oil & Gas plc has secured an early two-year extension until 31 January 2028 to its Walton Morant licence offshore southern Jamaica. PARTNER The 22,400km2 block holds “multiple plays and prospects” and more than seven billion barrels mean/mid case recoverable unrisked prospective resources, based on internal estimates. The company will use the extra time […]
Orcadian completes Pilot farm-out
Orcadian Energy plc has completed the 81.25% farm-out of central North Sea licence P2244, containing the Pilot oil field, to Malaysian operator Ping Petroleum UK plc. TECHNOLOGY Discovered in 1989, appraisal of Pilot showed “excellent quality reservoir and contains 263MMbbl of a viscous oil”. Orcadian said that Ping, focused on shallow water offshore production and […]