Beacon Energy plc has reached a binding conditional agreement to buy shares, in a “transformational, value enhancing transaction”, in the Colle Santo gas field in the Abruzzo region, Italy. REABOLD The company, which posted £18.6 million losses in 2024 and is currently a cash shell, signed the share purchase agreement with investor Reabold Resources plc, which […]
Tag: oil and gas
Antler granted more time for EG-08 PSC
Antler Global Ltd has received a 12-month extension to the first two years of the production sharing contract for EG-08 block, offshore Equatorial Guinea. FARM-OUT The company has an 80% working interest in the PSC, while national oil and gas company, Guinea Equatorial de Petróleos (GEPetro), holds 20%. EG-08 contains 2.196 trillion cubic feet (Pmean), […]
Rockhopper awards 1.4m share options
Rockhopper Exploration plc has awarded 1,378,001 share options under its 2025 long term incentive plan. SEA LION Chief executive officer Sam Moody received 887,931 options and chief financial officer William Perry received 490,070. The awards, conditional on performance criteria, vest on 30 June 2028. The CEO’s options are subject to an additional one-year holding after […]
Spirit completes sale of Cygnus share
Spirit Energy Ltd has completed the sale of a 46.25% interest in the Cygnus gas field to Ithaca Energy plc. INTEREST The companies announced the transaction in May 2025. Spirit will receive a headline consideration of £116 million and the transfer of £99m associated decommissioning liabilities. The company retains a 15% interest in the field while […]
UK Oil & Gas swings to a loss
UK Oil & Gas plc posted a swing to a loss and a decrease in group revenue for the first half of 2025. HORSE HILL Interim results showed gross losses amounted to £0.47 million compared with a £0.22m profit for H1 2024. The company said that the fall was due to a rise in the […]
Serica to buy Lancaster field owner, Prax
Serica Energy plc has agreed a $25.6 million purchase of Prax Upstream Ltd and Prax Exploration & Production plc, owner of the Lancaster field, west of Shetland in the North Sea. BOOST The acquisition also includes Prax Upstream’s sale and purchase agreements with TotalEnergies and ONE-Dyas. On completion, Serica will own a 40% operated interest […]