Angus Energy plc granted 30 million share options under its existing employee incentive schemes to its employees. The company said that the grant, from 19 January, reflected the management’s efforts in achieving successful operations at the Saltfleetby gas field. The share options have an exercise price of 0.67 pence per share and a 10-year term […]
Tag: oil and gas
Baron signs farm-up for Chuditch PSC
Baron Oil plc’s subsidiary has signed the farm-up agreement for the TL-SO-19-16 Chuditch production sharing contract, offshore Timor-Leste. OPERATIONS The contract between SundaGas Banda Unipessoal Lda and national oil and gas company TIMOR GAP Chuditch Unipessoal Lda follows December’s memorandum of understanding and now needs only regulatory approval. Planned operations remain drilling and flow testing […]
Europa cancels 13m share options and grants 50m
Europa Oil & Gas (Holdings) plc has cancelled 13 million enterprise management incentive share options and granted 50m new options of which a portion will replace those cancelled. REVIEW The company said that the remuneration committee had agreed with a third-party independent review that the remuneration packages for employees and directors was “no longer appropriate”. […]
UKOG restarts testing operations at Pinarova-1
UK Oil & Gas plc (UKOG) said that perforating and swab testing equipment had arrived and testing restarted at the Pinarova-1 exploration well site in Turkey. TARGET PSI’s larger 7-inch perforation guns will be deployed following normal site rig up and safety and environmental checks. UKOG’s site representative will monitor and quality control the full […]
United given $3.8m default notice for Abu Sennan
United Oil & Gas plc has received a default notice for US$3,822,143 outstanding cash calls for the Abu Sennan licence in which it tried to sell its 22% interest. DISCUSSIONS The company has 30 days, beginning 28 January, to address the November 2023 notice from operator Kuwait Energy Egypt Ltd under their joint operating agreement […]
United agrees two-year extension to Walton Morant
United Oil & Gas plc has agreed a two-year extension to the initial exploration period of its 22,400km2 Walton Morant block offshore Jamaica. CONFIDENT Pending the final signature by the Ministry of Science, Energy, Telecommunications and Transport (MSETT) on an amendment to the production sharing agreement (PSA) the licence will run to 31 January 2026. The company […]