Tullow Oil plc chairman and non-executive director Phuthuma Nhlekohas has stepped down with immediate effect, to focus on “other business interests”. His departure is one of a series which includes independent NEDs Genevieve Sangudi, Martin Greenslade and Mitchell Ingram who also leave immediately. The company has appointed Roald Goethe as the new independent non-executive chairman […]
Tag: oil and gas
Ascent JV looks to new cash flows from Utah licences
Ascent Resources plc and its partner could receive additional cash flows ar their existing Paradox Basin oil and gas wells and leases from a second partnership exploring for metals and minerals at the 119,000 acreage in Utah, USA. TERMS The company and American Helium LLC signed a 60-day exclusive option agreement with Neometals Ltd and […]
Orcadian given three more years for Pilot field
Orcadian Energy plc has been granted a three-year extension until 1 December 2028 to the second term of licence P2244, containing the Pilot field, in the UK central North Sea. POTENTIAL The company has an 18.75% carried interest in the licence, with Ping Petroleum UK plc holding 81.25% of the project. The Malyasian operator is […]
Europa granted five more years for West Firsby
Europa Oil & Gas (Holdings) plc said that onshore DL003 licence, containing the West Firsby field, has been granted a five-year extension until 31 December 2030. NSTA The site in the West Lindsey district of Lincolnshire, has two wells producing some 25 barrels of oil per day, as at 2021. Europa holds a 100% working […]
Angus takes minority role in potential Gulf assets
Angus Energy plc said that a United States-based third party would manage its potential acquisition of producing assets, offshore Gulf of America (Gulf of Mexico). DEBT The move will leave Angus with a minority, non-operated interest, allowing it to “focus financial and human capital efficiently, reduce operational risk and enhance potential returns on investment”. Any […]
UKOG increases issued share capital
UK Oil & Gas plc, which is currently shifting its focus away from natural resource extraction, has increased its issued share capital with a £520,000 fundraise for its hydrogen storage project. TVRs The company issued 3,249,134,670 shares through a placing, at a 25% discounted issue price of 0.016 pence per share. Following admission, UKOG’s total […]