Serica Energy plc said the new completion equipment had been installed and a flow test performed at Rhum R3 well in the North Sea. CONSTRAINT The company added that a stabilised flow rate of 58.4mmscf/d of gas and 135bbls/d of condensate had been achieved. The rate was constrained by the surface well test equipment on […]
Month: November 2024
Hurricane bondholders back restructure
Hurricane Energy plc’s bondholders today voted 100% to support the company’s restructuring plan while the majority of shareholders voted against it. Shareholder votes in favour were reported at 7.66% compared with 92.34% opposing the plan. The company said that 1,518,667 votes were withheld and 32.87% of the issued share capital voted. Hurricane added that because […]
EnQuest borrows $750m for Golden Eagle
EnQuest plc has signed a new senior secured borrowing base debt facility for $750 million (£531 million) to refinance the Golden Eagle acquisition in the Central North Sea. The new facility is for $600 million with an additional $150 million for letters of credit for up to seven years. EnQuest said it would allow the […]
Caerus completes acquisition of PR Ploutonic
Caerus Mineral Resources plc announced it had completed its acquisition of PR Ploutonic Resources Ltd and its three advanced copper-gold exploration licences in Cyprus. The company is paying £750,000 for the licences to be paid in 3,311,258 restricted-trading, new ordinary shares of 0.1p each (consideration shares) each at 22.65p. PRL is registered in the country […]
Kavango to start ‘proof of concept’ drilling at KSZ Hukuntsi
Kavango Resources plc announce drilling would this month start on two proof of concept geological holes in the northern (Hukuntsi) section of the Kalahari Suture Zone (KSZ), Botswana. The miner said its main objective was to become the first company ever to retrieve drill core from the bottom of the ‘keels’ of the Karoo-age gabbros […]
Condor infill drill to increase La Mestiza resource
Condor Gold plc said it had started an 8,500m infill diamond drilling programme to increase resource to the indicated category in La Mestiza open pit at La India project in Nicaragua. The existing La Mesitza open pit hosts 433kt at 8.6g/t gold for 120,000 oz gold (92kt at 12.1 g/t gold for 36,000 oz gold […]