Rockhopper Exploration plc announced it had extended its North Falkland Basin petroleum licences, including the Sea Lion Discovery Area, until 1 November 2022. DISCUSSIONS The company’s licences had been due to expire on 1 May 2021. The extension follows discussions between the hydrocarbon exploration and production company and joint venture partners, Harbour Energy and the […]
Tag: oil and gas
Reabold to sell 50% CLNs to fund Victory draft FDP
Reabold Resources plc will sell half of the convertible loan notes (CLNs) in investee Corallian Energy Ltd to help fund a draft field development plan for the Victory gas field, West of Shetland. MONETISATION The sale is to “a group of strategic investors” in exchange for £500,000 cash, with Reabold retaining £500,000 of the CLNs. […]
Egdon submits plans for Biscathorpe side-track well
Egdon Resources UK Ltd has submitted a “thorough and robust” planning application to Lincolnshire County Council for a conventional B-2Z side-track appraisal well at Biscathorpe. JOINT VENTURE The application submitted last Friday (26 February) includes side-track drilling operation, associated testing and long-term production of hydrocarbons at the Biscathorpe-2 wellsite in licence PEDL253. Drilling is planned […]
Angus to obtain new seismic data for Lidsey
Angus Energy plc announced it would obtain new seismic data and reprocess the existing seismic lines to identify a new drill target at Lidsey oil field in West Sussex. The onshore hydrocarbon company said that previous seismic mapping had underestimated the aerial extent of the reservoir and most importantly its shape. This had resulted in […]
Reabold to invest further £1m in Corallian
Oil and gas investor Reabold Resources plc said it expected to invest £1 million in Corallian Energy Ltd through a conditional convertible loan instrument for the Victory gas field, West of Shetland. The convertible loan is conditional on Corallian receiving the consent of 75% or more of its shareholders. Reabold has an existing 36.9% shareholding […]
Union Jack aims for enhanced profile and mid-tier status
Union Jack Oil plc has said it planned to consolidate its share capital to avoid price volatility, increase liquidity and to enhance the perception of the company. The company’s proposals include consolidating the existing ordinary shares in issue so that every 200 existing ordinary shares will be consolidated into one consolidated ordinary share. Union Jack […]