Borders & Southern plc said it planned to raise US$1.8 million (£1.35m) to appraise and develop its Darwin gas-condensate discovery off the Falkland Islands. FUNDRAISING The money will also be used for general working capital. The company added it intended to raise $600,000 (£450,000) in a subscription solely involving chairman Harry Dobson for 34,702,000 new […]
Tag: oil and gas
EA minded to grant Horse Hill changes as public consultation begins
The Environment Agency (EA) has said it was minded to accept draft proposals for changes, including construction of four additional boreholes, at Horse Hill oil field near Gatwick in Surrey. VARIATION Operator Horse Hill Developments Limited (HHDL) applied to the EA for a variation of its permit covering a range of work. UK Oil & […]
Flaring falls by 19% in the UK North Sea – OGA
The Oil and Gas Authority (OGA) reported that flaring* in the UK North Sea fell by 19% last year, following a 22% decrease during 2020. STATISTICS In a statement, the OGA said that production facilities cut their flaring by 6 billion cubic feet (bcf), to 26 bcf, a reduction equivalent to the annual gas demand […]
Europa raises £7m via discounted placing
Europa Oil & Gas (Holdings) plc has conditionally raised £7.02 million, before expenses, to fund a new acquisition in the North Sea. DISCOUNT The company added that this was at a 21.7 % discount to the 30-day volume weighted average share price on 2 March 2022. A Primary Bid offer, announced yesterday, is a separate and distinct offer, […]
United continues talks with Hibiscus on Crown oil discovery licence
United Oil & Gas plc today announced it was continuing talks over the sale of its interest in the licence containing the Crown oil discovery. CROWN OIL DISCOVERY In August 2018, United was awarded Blocks 15/18d and 15/19b, containing the Crown discovery, as part of the UK 30th offshore licencing round. MILESTONE PAYMENTS The sale to […]
United on course to complete SPA for gas licence in Italy
United Oil & Gas plc announced it was nearing the completion of selling its interests in the Podere Gallina licence holding the Selva gas project in Italy. SPA PXOG Marshall Ltd, a subsidiary of Prospex Energy plc, signed a conditional sales and purchase agreement to buy United’s 100%-owned subsidiary UOG Italia Srl for €2.165m ($2.54m […]