i3 Energy plc has appointed Ryan Heath to the board as an executive director with immediate effect. Mr Heath was appointed president of i3 Canada, following i3’s acquisition in December 2020 of Toscana Energy Income Corporation, where he had been chief executive officer since 2019. Prior to Toscana, he was VP land & negotiations at […]
Tag: oil and gas
Capricorn investor Palliser calls for ousting of directors
Capricorn Energy plc said it had received a requisition notice from one of its investors to convene a general meeting to consider resolutions to remove certain directors of the board. DIRECTORS Palliser Capital Master Fund Ltd, which holds approximately 6% of the company, called for the removal of chief executive officer Simon Thomson, chief financial […]
NSTA sanctions EnQuest and fines Spirit
EnQuest plc and Spirit Energy Ltd are two of three operators fined a total £265,000 for breaches in operations by the North Sea Transition Authority (NSTA). PENALTIES EnQuest was sanctioned and fined £150,000 for flaring an excess 262 tonnes of gas on the Magnus field between 30 November and 1 December 2021 “despite knowing that […]
Orcadian looks to raise funds after losses increase
Orcadian Energy plc said it would need further funding after recording more than a five-fold increase in losses from its Central North Sea operations. FINANCES The company holds four licences, East and North East of Aberdeen, of which the Pilot field is the largest. Results for the year ended 30 June 2022 reflected investment in […]
IGas Energy 2022 production on course
IGas Energy plc said it was on course to deliver its full year of production within guidance of 1,900 to 1,950 boepd from its assets onshore United Kingdom. OPERATIONS In early October, the company began a production drive to ensure its wells, plant and equipment were operating reliably. IGas increased its operational rigs from three […]
Tullow signs Côte d’Ivoire PSC licence
Tullow Oil plc has signed a production sharing contract (PSC) for exploration licence CI-803, offshore Côte d’Ivoire. STRATEGY The company will be the operator with 90% equity while PetroCi* holds 10% Licence CI-803 covers 1,345 km2 and is next to licence CI-524 which is Tullow also operates on the same interest with PetroCi. Tullow said […]