Ascent Resources plc said it expected to receive €1.68 million hydrocarbon revenues covering 26 months’ operations from its joint venture (JV) within the Petisovci concession area in Slovenia. WELLS PG-10 & PG-11A Ascent holds a 75% interest in the Petišovci project and its JV partner Geoenergo holds the remaining 25%. The revenues are from the […]
Tag: oil and gas
IGas repays $4m debt on higher commodity prices
IGas Energy plc has repaid $4 million debt of its reserves-based loan leaving net debt of £8.2m. FLEXIBILITY The company holds $22m (£18.1m) of debt capacity and, as at 29 July 2022, cash balances were £2.4m. “Higher commodity prices continue to drive strong operating cash flow generation giving us financial flexibility,” said chief executive Stephen […]
Block notes 2P reserves of 1.07 MMbbl for West Rustavi / Krtsanisi oil field
Block Energy plc reported field gross 2P reserves of 1.07 MMbbls in a competent persons report (CPR) on part of the West Rustavi and Krtsanisi oil field in Georgia. PROJECT I Chief executive Paul Haywood said that the CPR had independently verified the company’s work and plans for the initial phase of Project I. The CPR, […]
Scirocco JV assesses drill location at Chikumbi-1 well
Scirocco Energy plc said that its joint venture (JV) partner had received the first batch of seismic data to determine the drilling location for the Chikumbi-1 (CH-1) well, on the Ruvuma PSA in Tanzania. PREPARATIONS Ruvuma contains the Ntorya gas field from which the company expects a development into a large onshore gas discovery near […]
i3 Energy completes Serenity farm-out to Europa
i3 Energy plc has completed the farm-out to Europa Oil and Gas of a 25% working interest in Block 13/23c North (licence P2358) containing the Serenity oil discovery in the UK North Sea. TERMS Europa will fund 46.25% of the cost of the upcoming Serenity appraisal well up to a gross capped well cost of […]
Parkmead starts Greater Perth Area farm-out process
The Parkmead Group plc has started the farm-out process for its 100% development project in the Greater Perth Area (GPA) in the North Sea. GPA The company said it had engaged energy corporate finance advisory firm, Gneiss Energy Ltd, to find a suitable partner or partners for the project. The core Perth field holds some […]