Angus Energy plc hopes to resume drilling into the open hole of the reservoir at Saltfleetby in East Lincolnshire. OPERATIONS Towards the end of November, the company paused operations at the top of the reservoir. Angus today said that despite “relatively slow progress” in casing and cementing it expected to restart drilling early next week […]
Tag: oil and gas
Serica yet to find commercial results in North Eigg
Serica Energy plc said it was yet to find commercial quantities of hydrocarbons during drilling the North Eigg exploration well in the UK North Sea. OPERATIONS The company drilled well 3/24c-6B to a total depth of 16,728 feet and encountered 16 feet of hydrocarbon-bearing sands. “These have confirmed the presence of hydrocarbons at a deeper […]
Neptune confirms new discovery at Calypso
Neptune Energy has announced a new discovery at the Calypso exploration well (PL938) in the Norwegian Sea. ESTIMATES The company added that preliminary estimates were between one and 3.5 million standard cubic metres (MSm3) of recoverable oil equivalents, corresponding to six to 22 million barrels of oil equivalent (boe). Calypso is Neptune’s third discovery in […]
Ascent to appoint Marco Fumagalli as NED
Ascent Resources plc has proposed to appoint Marco Fumagalli to the board as a non-executive director. On appointment, he will become chairman of the company’s audit committee. Mr Fumagalli is an Italian businessman and industrial investor who was previously a group partner at multinational private equity and venture capital company 3i. He is a funding […]
Ascent raises £600,000 via placing and restructures debt
Ascent Resources plc has raised £600,000 in a placing and restructured its debt with lender Riverfort. DISCOUNT The company issued 15,000,000 new ordinary shares of 0.5 pence each to new and existing shareholders, at a price of 4 pence per placing share. The placing price represents an approximate 5% discount to the closing mid-market price […]
Block welcomes SLB’s rights waiver over 108m shares
Block Energy plc said that SLB (formerly Schlumberger) had decided not to exercise its right to acquire 108 million ordinary shares in the company. ACQUISTION In 2020, Block granted 120 million options as consideration for the acquisition of the Schlumberger Rustaveli Company Ltd (SRCL), which held Georgia’s most productive licence, Block XIB. Of these, SLB assigned to Jindal Petroleum […]