Hurricane Energy plc has received a requisition notice from its largest shareholder Crystal Amber Fund Ltd for a general meeting to remove senior management and appoint new directors. DIRECTORS Crystal Amber’s resolutions include the immediate removal of chairman Philip Wolfe, chief executive officer Antony Maris, and chief financial officer Richard Chaffe. The activist investor has […]
Tag: oil and gas
Predator settles dispute over Cory Moruga
Predator Oil & Gas Holdings plc has reached a final settlement over its carbon dioxide enhanced oil recovery (CO2 EOR) well participation agreement at the Inniss-Trinity project in Trinidad. LITIGATION In June 2022, the company began litigation against the Challenger Energy Group plc over a loan and premature termination of the project. The agreed settlement […]
Block testing proves unswept oil in Patardzeuli field
Block Energy plc said that the JSR-01 DEEP testing programme had proven oil from a previously unproduced zone in the Patardzeuli field in Block X1B, Georgia. RESULTS The company began drilling the well in July 2022 under Project II comprising the full redevelopment of Patardzeuli. Block Energy today reported that results demonstrated the company’s concept […]
Serica joins top 10 UKCS producers with Tailwind acquisition
Serica Energy plc will join the top 10 producers on the UK Continental Shelf (UKCS) after it agreed to acquire Tailwind Energy Investments Ltd for £367 million. ASSETS Serica operates the producing Bruce, Keith and Rhum fields in the UK Northern North Sea, and the producing Columbus field in the UK Central North Sea. The […]
Egdon increases stake in Waddock Cross-Avington
Egdon Resources plc has signed a conditional agreement to acquire Aurora Production (UK) Ltd which holds interests in Waddock Cross and Avington oil fields. REJUVENATE Aurora holds an 18.75% interest in the Edgon-operated licence PL090 containing Waddock Cross in Dorset. It also owns an 8.33% interest in the IGas Energy-operated licence PEDL070 holding Avington in […]
Angus targets £7m via placing and subscriptions
Angus Energy plc has to date raised £5.6 million of a target of £7.1m through a placing and subscriptions in two tranches. PLACING AND SUBSCRIPTIONS The company raised a total of £1.89m through the placing of 115,000,000 ordinary shares. The first tranche of subscriptions generated an initial £3.7m through the issue of 226,219,000 ordinary shares at 1.65p per […]