Corcel plc found “significant” water production with oil shows and nominal oil saturation levels from clean-up operations using nitrogen at the TO-14 well, onshore Angola. DATA Operator Sonangol has now completed initial well test efforts at the well while engineering work continues. Nitrogen shortages in Luanda have prompted Sonangol to move to test TO-13, […]
Tag: oil and gas
Corcel raises £1.3m via premium placing
Corcel plc has raised £1,299,750 via a 37% premium placing, including an investment from one of its directors, cornerstone shareholder Extraction Srl and other institutional investors. USES The company issued 259,950,000 new ordinary shares of £0.0001 at a price of £0.005 per share with one-for-one warrants at £0.01 per share, valid for 24 months. Extraction […]
Predator prioritises revaluation of assets
Predator Oil & Gas Holdings plc said its main priority in 2024 would be to re-set the valuation of its gas assets “through means other than the intra-day share price”. PRUDENT Executive chairman Paul Griffiths added that the company would focus on “entities that understood the true value of natural resources in [the] oil and […]
Helium One progresses towards operational phase
Helium One Global Ltd is progressing towards operational phase with new studies, an expanded technical team and a review of production options at Rukwa in Tanzania. FS Conversion of its licences from prospecting to mining requires an environmental and social impact assessment, which forms part of the feasibility study. An expanded technical team is expected […]
Tullow Oil NED in shares purchase
Tullow Oil plc non-executive director Roald Goethe bought 40,064 ordinary shares each of 10 pence in the company. The purchase, at a price of £0.33909 per share for £13,768.41, took place on 4 April 2024.
Hartshead reduces workforce
Hartshead Resources NL has cut its workforce as it begins infrastructure funding talks that could “significantly” reduce its upfront phase I spending on the Anning-Somerville gas development. REGRETTABLE The company, already in negotiations for financing, said it could move initial capital expenditure into operating expenditure “via a tariff payable in respect of third party infrastructure […]