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 […]
Tag: farm-out
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 81.24% Pilot farm-out to Ping
Orcadian Energy plc has completed the 81.24% 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 […]
Orcadian shareholders back Pilot farm-out
Orcadian Energy plc shareholders today approved the $3.1 million farm-out of its Pilot oil field to Ping Petroleum UK plc. The conditional transaction for central North Sea licence P2244 with the Malaysian company was signed in December 2023.
Block prepares farm-out process for Georgia gas
Block Energy plc is preparing the farm-out process for the company’s project III, comprising blocks XIB and XIF, in Georgia. STRATEGY The project spans the three fields of Patardzueli, Rustavi and Teleti, which are all under a PSC until 2048. Operations focus on the “multi-tcf undeveloped gas resource” within the Lower Eocene and Upper Cretaceous […]