IOG plc said it anticipated increased Phase I overspend of 20-25% as the company reported slower than expected progress at Bacton gas terminal. EXPENDITURE IOG previously indicated that the gross “outturn” total Phase I capital expenditure was anticipated to exceed the original £305.5 million field development plan (FDP) budget by up to 10%. The company […]
Tag: oil and gas
IOG hopes to resume drilling at Southwark
IOG plc said it hoped to resume drilling in four to six weeks following suspension of work caused by seabed conditions at the Southwark well in the Southern North Sea. DATA ANALYSIS The company is working to find solutions to the conditions which caused the Noble Hans Deul rig to suspend operations earlier this month. […]
Egdon to appeal against refusal for Biscathorpe side-track
Egdon Resources plc said it would appeal against the refusal for a side-track drilling operation, associated testing and long-term oil production at Biscathorpe, Lincolnshire. DECISION In November 2021, Lincolnshire County Council (LCC) refused permission for the joint venture (JV) project on PEDL253. In a statement today, operator Egdon said it had decided to appeal after […]
Helium One raises £7,520 through warrant exercise
Helium One Global Ltd has raised £7,521.17 after receiving notice to exercise warrants over a total of 211,864 ordinary shares at a price of 3.55 pence per share. The warrant shares will rank pari passu with the existing ordinary shares.
Block makes good progress on testing well JKT-01Z, Georgia
Block Energy plc said it had made good progress testing well JKT-01Z with initial rates of 344 boepd at the company’s operations in Georgia. OPERATIONS Well JKT-01Z reached total depth at 2,565 metres measured depth as planned in early January 2022 . Production comprised 241 bopd and 17,500 m3 of gas per day. The company recorded no […]
Ascent nears legal deal for Slovenia arbitration
Ascent Resources plc soon expects to complete the conditions to the binding damages-based agreement appointing Enyo Law LLP as its representative in the dispute with Slovenia. TREATY In a statement Ascent added: “Following completion, the company and its legal advisor will immediately progress to compile and execute the required materials and officially submit the arbitration […]