Scirocco Energy plc said it had agreed an amendment to repaying the outstanding $545,000 investment facility with USA-based investor Prolific Basins LLC. RUVUMA CASH The company defaulted on the loan after shareholders defeated two resolutions at the general meeting in early August. Scirocco today said that it would use available cash resources, strengthened by the […]
Tag: oil and gas
Europa-i3 to abandon Serenity SA02 well
Europa Oil & Gas (Holdings) plc said that, following “disappointing” results, it would abandon and plug the SA02 well in the joint venture Serenity field. STRATEGY The company owns 25% of the project with operator i3 Energy plc holding 75%. The gross well cost is forecast to be £10.4 million with an estimated total cost […]
Block Energy appoints new auditor
Block Energy plc has appointed PKF Littlejohn as its new auditor, and current auditor BDO LLP has resigned. The appointment was authorised in August 2022 at the company’s general meeting and followed a tender process led by the company’s audit and risk committee. Any proposal to re-appoint PKF as auditors of the group will need […]
Helium One completes rig audit for phase II
Helium One Global reported the completion of the engineering audit on the drilling rig for the Phase II programme ahead of spudding in early 2023 at Rukwa (100%) in Tanzania. AUDIT Aberdeen Drilling Consultants (ADC) signed off the Epiroc Predator 220 drilling rig as fit for purpose after a detailed examination including a successful high […]
Victoria in ‘precarious’ financial situation
Victoria Oil & Gas plc (VOG) said its financial situation was precarious after being ordered to pay $12 million to its partner, suspension of trading, and its inability to raise funds until a resolution is found. OPERATIONS The company’s wholly owned subsidiary Gaz du Cameroon S.A. (GDC) produces and distributes onshore gas in the port […]
VOG seeks alternative rig provider for Matanda
Victoria Oil & Gas plc (VOG) said it was seeking an alternative rig provider for well operations at the Matanda onshore gas block in the port city of Douala, Cameroon. CONTRACTS The company, which is still suspended from trading on AIM due to financial uncertainty, produces and distributes gas through its wholly-owned subsidiary Gaz du […]