Block Energy plc announced it would soon test well WR-B1a following completion of drilling operations and that a second well for 2021 was also being prepared at West Rustavi, Georgia. WR-B1 WR-B1 was initially drilled to 2,180m and encountered hydrocarbon shows higher in the Middle Eocene reservoir than expected. The company said that shows continued […]
Tag: oil and gas
United signs £3.2m SPA with Quattro for Maria discovery
United Oil & Gas plc has entered into a binding sale and purchase agreement (SPA) with Quattro Energy Ltd to sell its UK Central North Sea Licences P2480 and P2519 for a headline consideration of up to £3.2 million. TERMS Quattro will pay an initial £2m to United in cash on completion. A further £1.2m will be paid to […]
Cairn Energy nears end of tax dispute with India
Cairn Energy plc announced that it had nearly resolved the outstanding tax issues with India and soon expected to complete its acquisition in Egypt. INDIA Cairn said that a near-term India resolution would see up to $700m (£500m) returned to shareholders via special dividend and buyback, subject to approval. The remainder will be retained to […]
United notes exceptional H1 production at Abu Sennan
United Oil & Gas announced average H1 2021 production net to the company’s working interest of 2,730 boepd from the joint venture Abu Sennan licence in Egypt. WATER–CUT The company holds a 22% working interest in the licence comprised of seven producing oil fields operated by Kuwait Energy Egypt. The ASH field currently has three wells […]
Block proposes to appoint Kenneth Seymour as NED
Block Energy plc has proposed the appointment of Dr Kenneth Seymour as an independent non-executive director. Dr Seymour has worked with major and minor petroleum exploration and production companies for more than 40 years as drilling engineer, drilling superintendent, drilling manager, general manager, director and adviser. He has worked in the North Sea, the Netherlands, China, […]
Serica appoints Andy Bell as CFO and a director
Serica Energy plc has appointed Andy Bell as chief financial officer and a director of the company with immediate effect. Mr Bell joined the company in 2017 as vice president of finance after previously providing financial consultancy services to Serica. He has extensive experience of upstream finance and systems of reporting and control, having worked […]