Beacon Energy plc expects its German subsidiary Rhein Petroleum GmbH, with debts of €7.5 million, will be sold following a 20% drop in production. CAPITAL The company said it was looking to other areas in Europe as well as Africa and the Far East for new opportunities which it has been assessing for the past […]
Tag: oil and gas
Parkmead in talks to sell offshore UK licences
The Parkmead Group plc is in talks to sell its offshore UK licences as the company posted a swing to a profit in its full-year preliminary results. ASSETS The affected interests lie in the UK West of Shetland, Moray Firth and central and southern North Sea. Included in the portfolio is part ownership of licence […]
Sea Lion FID deferred to mid-2025
Rockhopper Exploration plc’s partner has indicated that the final investment decision has moved from late 2024 to mid-2025 with first oil during Q4 2027 at Sea Lion in the North Falkland Basin. AREAS The company added that the gross capital expenditure needed to first oil had risen to US$1.4 billion due to inflation but the project […]
UJO encounters quality reservoir in Taylor
Union Jack Oil plc said it had encountered quality reservoir with two potential further secondary intervals in the joint venture Taylor 1-16 well in Seminole County, Oklahoma, USA. OBJECTIVE Operator Reach Oil and Gas Inc drilled the well to a total depth of 4,577 feet, reaching the target Hunton Limestone interval at 4,168ft. The interval […]
UKOG raises £55,537 via retail offer
UK Oil and Gas plc has raised £55,537 from its retail offer by issuing 222,148,000 new ordinary shares of £0.000001 each at 0.025 pence per share. The offer to the company’s existing retail shareholders is separate to earlier placing which raised £500,000. Following admission UKOG’s voting rights will total 13,362,909,833.
Helium One losses rise in ‘transformational’ year
Helium One Global Ltd’s losses more than quadrupled from a busy year at its operations in southern Rukwa, Tanzania and its new joint venture in Colorado, USA. BUSY Results for year ended 30 June 2024 showed a total comprehensive loss of US$11,012,204 compared with $2,672,915 for the year to 30 June 2023. The company said […]