UK Oil & Gas plc (UKOG) said it had marked a milestone with the start of air drilling at the Basur-3 appraisal oil well in the 305 km² Resan licence, Turkey. On 26 June, operations began on the initial 17.5 inch diameter hole section, following which a 13⅝ inch casing is expected to be set. […]
Month: November 2024
Hurricane refused court approval for restructure
Hurricane Energy plc said that the High Court had today refused to sanction its proposed restructuring plan. RISK The company added that its existing board was considering all options including an appeal. “Unless the company or the Ad Hoc Committee successfully appeals the judgment, the restructuring plan will not be implemented,” said Hurricane in a […]
Reabold notes completion of EBS at Victory
Reabold Resources plc announced that a key milestone had been reached with the completion of the environment baseline survey (EBS) at the Victory gas discovery, northwest of the Shetland Islands. The upstream oil and gas investor holds a 49.99% interest in operator Corallian Energy Ltd which in turn owns a 100% interest in Victory. Corallian […]
Altona signs exclusive deal for Monte Muambe
Altona Rare Earths plc is to acquire its first rare earths asset after signing an exclusive acquisition deal for the Monte Muambe project in Tete Province, northwest Mozambique. PROGRAMME The company entered into an agreement with Ussokoti Investimentos Limitada for up to 70% of the project via a farm-in arrangement. Altona has also started its […]
Power Metal identifies multi-scale anomalies at Tati
Power Metal Resources plc has identified multi-scale anomalies during due diligence at gold-nickel properties in the Tati greenstone belt, Botswana. TREND The company has the option to acquire 100% of prospecting licences 127/2019 and 126/2019, prospective for gold and nickel. Compiled historical data has identified “multi-kilometre-scale nickel, arsenic and gold in-soil anomalies” on PL127/2019 and […]
Block spuds WR-B1 to target 2.1MMboe at West Rustavi
Block Energy plc has started drilling for 2.1MMboe of recoverable oil and gas at the WR-B1 well at WR-BA location in the West Rustavi field, Georgia. The company added that it was committed to adding significant production to its operations through a combination of new wells and re-entry and side-track of existing wells. WR-B1 WR-B1 […]