United Oil & Gas plc said it had to date found no hydrocarbons from drilling the ASV-1X exploration well in the Abu Sennan joint venture (JV) licence, onshore Egypt. ASV-1X Kuwait Energy Egypt operates the licence in which United holds a 22% working interest. The ASV-1X well was drilled under budget to a total depth […]
Tag: oil and gas
Rockhopper raises $3.4m via open offer
Rockhopper Exploration plc said it had raised US$3.4 million (£2.8m) from an open offer in respect of 39,652,160 units. The number represents more than 69% of the 57,310,264 available open offer units. In addition to the placing and subscription on 15 June, Rockhopper has now raised in aggregate US$10.4 million (£8.5 million).
Ascent JV initiates mediation process in Slovenia
Ascent Resources plc today said that it and its local joint venture (JV) partner, Geoenergo, had agreed to initiate the dispute resolution mechanism in their contract and initiated the mediation process in Slovenia. The company added that a Court of Appeal, High Court Ljubljana judge had now been appointed as the mediator between the joint […]
Block revenues rise and losses narrow in Georgia
Block Energy plc recorded a near five-fold increase in revenue and narrowed losses from its oil and gas operations in Georgia. FINANCES The company’s audited results for the year ended 31 December 2021 showed revenue of $6,114,000 (2020: $1,255,000) and other income included $5,000 (2020: $100,000) for sales of materials. Losses for the year narrowed to $4,783,000 (2020: $5,512,000). Block Energy added […]
UKOG discovers light oil seep at Resan
UK Oil & Gas plc said its joint venture (JV) partner had discovered a live, light 41.7˚API oil seep in an unused seismic drill hole within the Resan licence in Türkiye. DRILL HOLE Operator Aladdin Middle East (AME) (50%) drilled the hole during the 2022 seismic programme. The drill hole lies approximately 4km north of […]
Reabold appoints Anthony Samaha as NED
Reabold Resources plc has appointed Anthony Samaha as non executive director. Mr Samaha previously acted as the company’s finance director.