Tullow Oil plc has completed the sale of its entire working interest in the South Lokichar Basin in Kenya to Auron Energy E&P Ltd, an affiliate of Gulf Energy Ltd. PRIORITIES The company has received the full tranche A proceeds of US$40 million (£30m) of the total minimum $120m. “The successful completion of this transaction marks a […]
Tag: oil and gas
Helium One issues 700m shares to convert £1.7m
Helium One Global Ltd has issued 702,127,658 new ordinary shares after receiving conversion notice from investors, for a total £1,650,000. TVRs The conversion is at a price of 0.235p, representing a discount of approximately 21.7%. Following admission, the company’s issued ordinary share capital will comprise 7,716,654,294 ordinary shares, with one voting right each. Helium One holds […]
Union Jack JV completes drilling Sark
Union Jack Oil plc has drilled the Sark well to a total depth of 5,391 feet at the central Oklahoma site in the USA. TEST Joint venture partner and operator Reach Oil and Gas Company Inc perforated the Prue interval from 4,586 to 4,600 ft. Union Jack said that the Prue interval was highlighted on […]
Helium One on track to drill ITW-1 at Rukwa
Helium One Global Ltd has agreed the purchase of an electrical submersible pump and associated equipment to drill the Itumbula West-1 well in the southern Rukwa Basin, Tanzania. FLOW RATES The vendor is Cener Tech Group, part of the Chinese National Offshore Company (CNOOC). Helium One said that site civils work had started for water […]
United intends to award 332m share options
United Oil & Gas plc intends to award up to 332,361,111 performance-related share options, representing 13.224% of its issued share capital, under its amended, unapproved share option scheme. SALARIES The revised scheme includes contractors and consultants as well as directors and persons discharging managerial responsibilities, and will also offset cuts in employees’ salaries over recent […]
Prospex faces further production delays at Viura
Prospex Energy plc said that equipment left inside the tubing of the Viura-1 well during testing had further delayed resumption of production from the gas field in northern Spain. SAFETY In August, operator Heyco Energia Iberia S.L. completed a well workover, but a “failure in the pressure control equipment” needed safe and controlled cutting of […]