Beacon Energy plc continues clean-up on Schwarzbach-2(2) while beginning sand jetting operations to stimulate the well in the Erfelden field, Germany. PERFORATIONS The rod pump was installed in late 2023 but production remains at approximately 40 barrels of oil per day, indicating that the reservoir near the wellbore is invaded by drilling fluids restricting flow rates. Sand […]
Tag: oil and gas
Union Jack signs Texas deals and plans Oklahoma JVs
Union Jack Oil plc has made its “initial” expansion into America with three purchased mineral royalty packages in Texas and planned joint ventures in Oklahoma. PERMIAN BASIN The unit acquisitions in the Permian basin, to be owned in perpetuity with no forward liabilities or obligations, were brokered by the company’s agent and adviser Reach Oil […]
Helium One finds elevated shows in ITW-1
Helium One Global Ltd reported consistent elevated helium shows, over twenty times above background, while drilling the Itumbula West-1 well on the Rukwa licence in Tanzania. EVALUATION Drilling in the Lake Beds Formation, Red Sandstone Group, Karoo Group and Basement targets yesterday, reached a total depth of 961m measured depth. Helium shows increased in frequency […]
United to focus on Jamaica and UK after Egypt exit
United Oil & gas plc said it would focus on its assets offshore Jamaica and onshore UK after it has left Egypt. 2024 The company holds a 26.25% working interest in licence PL090 in Dorset containing the Waddock Cross oil field, operated by majority owner Egdon Resources. During 2020, Egdon completed reservoir modelling work on […]
Capricorn appoints COO and CFO
Capricorn Energy plc has appointed Geoff Probert as chief operating officer and Edward Ok as chief financial officer. The company said in its pre-close report that both brought “deep industry experience and strong relationships in Egypt, coupled with strategic, financial and operational leadership.” Capricorn is due to publish its full 2023 results on 14 March.
UKOG issues 876m shares to reduce £2m loan
UK Oil & Gas plc has reduced its 2023 loan by issuing a fourth tranche of ordinary shares, totalling 876,412,394, to its lenders. The balance of the £2 million gross first cash sum from RiverFort Global Opportunities PCC Ltd and YA II PN Ltd is now £660,000. The shares were converted at an average of 0.0175 […]