Deltic Energy plc and its proposed buyer, Viaro Bidco, have deferred the long stop date for the £6.9 million sale until next year, after the industry regulator asked for more details to address “concerns”. DISAPPOINTED The transaction, agreed at the end of June 2025, comprises a cash offer for Deltic’s entire and to be issued […]
Tag: oil and gas
Beacon proposes share consolidation
Beacon Energy plc has proposed a share consolidation of one new ordinary share of nil par value for every 1,000 existing ordinary shares of nil par value. ITALY The company, which posted £18.6 million losses in 2024, became a cash shell in January of this year following the sale of its assets in Germany. Beacon […]
Tullow chairman steps down in board overhaul
Tullow Oil plc chairman and non-executive director Phuthuma Nhlekohas has stepped down with immediate effect, to focus on “other business interests”. His departure is one of a series which includes independent NEDs Genevieve Sangudi, Martin Greenslade and Mitchell Ingram who also leave immediately. The company has appointed Roald Goethe as the new independent non-executive chairman […]
Ascent JV looks to new cash flows from Utah licences
Ascent Resources plc and its partner could receive additional cash flows ar their existing Paradox Basin oil and gas wells and leases from a second partnership exploring for metals and minerals at the 119,000 acreage in Utah, USA. TERMS The company and American Helium LLC signed a 60-day exclusive option agreement with Neometals Ltd and […]
Orcadian given three more years for Pilot field
Orcadian Energy plc has been granted a three-year extension until 1 December 2028 to the second term of licence P2244, containing the Pilot field, in the UK central North Sea. POTENTIAL The company has an 18.75% carried interest in the licence, with Ping Petroleum UK plc holding 81.25% of the project. The Malyasian operator is […]
Europa granted five more years for West Firsby
Europa Oil & Gas (Holdings) plc said that onshore DL003 licence, containing the West Firsby field, has been granted a five-year extension until 31 December 2030. NSTA The site in the West Lindsey district of Lincolnshire, has two wells producing some 25 barrels of oil per day, as at 2021. Europa holds a 100% working […]