Orcadian Energy plc has received a one-year extension to its licence P2244 containing the Pilot oil field in the North Sea. DEVELOPMENT The second term of licence P2244, granted by the North Sea Transition Authority (NSTA), was due to expire at the end of November 2022 but will now remain valid until the end of […]
Tag: oil and gas
Baron Oil appoints Keith Bush as NED
Baron Oil plc has appointed Keith Bush as an independent non-executive director, with immediate effect. Mr Bush has a petroleum background and worked for more than 30 years in the energy industry. He spent six years with Amerada Hess Ltd followed by five years with Burlington Resources. Mr Bush then held senior management positions with […]
Europa posts £6.6m revenue and 183% production rise
Europa Oil & Gas (Holdings) plc saw revenue more than quadruple and onshore oil production increase by 183% mainly from its share in the Wressle joint venture in the East Riding of Yorkshire. FINANCES The company’s final results for the year to 31 July 2022 showed revenues of £6.6 million (2021: £1.4m), and pre-tax profit […]
NSTA investigates suspected breach of licence condition
The North Sea Transition Authority (NSTA) is investigating an operator suspected of breaching one of its licence conditions. OBLIGATIONS The regulator will assess whether the licensee conducted a well test – intended to gauge whether or not the reservoir can produce oil or gas – without consent and failed to provide timely notification of the […]
Ascent awards 4.6m share options to employees and PDMRs
Ascent Resources plc has awarded 4.6 million options over ordinary shares to certain employees and persons discharging managerial responsibilities (PDMRs). PDMRs The performance vesting criteria for the options is the execution of a cash-generating ESG metals transaction consistent with the company’s strategy, said Ascent. Executive chairman James Parsons and chief executive officer Andrew Dennan each […]
Prospex partner might exit El Romeral
Prospex Energy plc said its partner could exit their Spanish onshore gas joint venture in a proposed merger with a third company. PROPOSAL Prospex and Warrego Energy Ltd are co-owners in Tarba Energía S.L which owns and operates the El Romeral gas-to-power plant. Tarba also owns related gas concessions near Carmona in Andalucía and the […]