Union Jack Oil plc expects drilling to start soon at its recently signed farm-in on the West Bowlegs prospect in Seminole County, Oklahoma. PRODUCTION The company said operator Reach Oil & Gas Company Inc had signed a drilling contract for the Andrews-1-17 well with a local firm. Groundworks are complete and a spud date due […]
Tag: oil and gas
Helium One nears Itumbula West-1 appraisal
Helium One Global Ltd is preparing to move beyond exploration following drill stem test results from the Itumbula West-1 well at Rukwa, Tanzania. EVALUATION The test measured a maximum flow rate of 0.5 million cubic feet per day containing 4.7% helium, without any artificial lift, from the factured Basement and faulted zone. Flow rates in […]
Corcel issues 100m shares via warrant exercise
Corcel plc issued 100 million new ordinary shares of £0.0001 each following notice of the exercise of 100m warrants each at a price of £0.0021 for £210,000. Following admission, the company‘s issued share capital will comprise 1,874,794,153 ordinary shares, with equal voting rights. None of the shares are held in treasury.
Tullow swings to $435m loss
Tullow Oil plc swung to a loss driven by impairments and write-offs totalling $435 million from its operations. RELENTLESS Year results for 2023 showed loss from continuing activities of $110m compared with a $49m profit in 2022. The group wrote off exploration costs of $27m (2022: $105 million) mainly in Kenya following withdrawal of the JV partners. A re-assessment of risks resulted […]
Angus issues initial 25m shares for £20m loan fees
Angus Energy plc has issued 25 million new ordinary shares each at 0.40 pence as part payment of £750,000 fees to secure Trafigura‘s £20m loan The outstanding amount of the total 187.5m fee shares due to Aleph Commodities Ltd are subject to further authorisation at Angus’ general meeting on 14 March 2024. Following admission, the […]
Block increases Rustavi-Teleti internal estimates
Block Energy plc has upgraded internal 2C contingent recoverable resource estimates to 2.77tcf for the Rustavi and Teleti fields in Georgia. PROSPECTIVITY Project III focuses on the undeveloped gas-bearing natural fracture system within the Lower Eocene and Upper Cretaceous reservoirs – each more than a kilometre thick – across blocks XIB and XIF. The company […]