United Oil & Gas plc said it had encountered seven metres of net oil play, in line with the higher end of pre-drill estimates, in the Al Jahraa-14 development well (AJ-14) on the Abu Sennan licence, onshore Egypt. AJ-14 United holds a 22% working interest in the licence, which is operated by Kuwait Energy Egypt. […]
Tag: oil and gas
Scirocco defaults on Prolific Basins loan
Scirocco Energy plc said it had defaulted the terms of its Prolific Basins LLC loan facility following defeat of two resolutions at the company’s general meeting. OUTSTANDING BALANCE Of a total of six, resolutions four and five failed to gain the required majority, with resolution five key to maintaining the terms of the facility. Scirocco […]
Orcadian signs farm-out for Carra prospect
Orcadian Energy plc has signed a farm-out agreement with Carrick Resources Ltd for a sub-area of licence P2320 which covers the Carra prospect, west of Aberdeen in the North Sea. TERMS The company will transfer the Carra interest to Carrick on completion of certain work milestones, not cash consideration. Carrick will review existing data, […]
Neptune awards £10m vessel services contract
Neptune Energy has awarded a £10 million three-year vessel services contract to Sentinel Marine Ltd, to provide offshore support for the Cygnus gas field in the UK southern North Sea. EMISSIONS The contract, which includes two one-year extensions, allows Sentinel Marine to continue deploying its multi-role, emergency response and rescue vessel Cygnus Sentinel, on the gas […]
UK Oil & Gas CEO buys further shares in company
UK Oil & Gas plc’s chief executive Steve Sanderson has further increased his share in the company. SHARE PURCHASE PROGRAMME On 25 July, Mr Sanderson bought 942,507 shares in the company at 10.6p each for £99,999. The latest purchase follows a similar move in December 2021, when he purchased 985,221 ordinary shares in the company […]
Helium One in final stages of rig audit
Helium One Global plc is in the final stages of auditing activities for its planned Phase II drilling campaign at its Rukwa (100%) project in Tanzania. RIG AUDIT The company said sub-contractor ADC Energy had completed 80% of an independent audit of the proposed drilling rig in its yard in Kenya. Key components observed in […]