The Oil and Gas Authority (OGA) has started an investigation into a possible breach of a flare consent, contrary to the requirements of the licence. The investigation follows an inquiry which concluded that there was sufficient initial evidence to merit a full investigation into a potential failure to comply. The investigation will, among other things, gather and assess further information to […]
Month: November 2024
Altus reports multiple intersections for outside Tabakorole gold deposit
Altus Strategies plc reported more positive results with multiple intersections encountered outside its mineral deposit at its Tabakorole joint venture gold project in southern Mali. RESULTS Results from five diamond drill holes (totalling 997m) from the central zone include shallow intersections outside of the mineral deposit of: 2.6 g/t gold over 21m from 70m; 1.3 […]
United spuds ASX-1X exploration well at Abu Sennan
United Oil & Gas plc said it started drilling the ASX-1X exploration well in the Abu Sennan licence, Egypt. DRILLING United holds a 22% working interest in the licence, which is operated by Kuwait Energy Egypt. Operations began on Saturday (14 August) on the ASX-1X exploration well, which is the company’s second, located some 7km […]
Horizonte holds £22m as Araguaia financing nears completion
Horizonte Minerals plc maintained a strong cash position while costs rose during H1 2021 at its Araguaia ferro-nickel project in Brazil. RESULTS In its unaudited interim results for six months to 30 June 2021, the company reported it held £22.2 million following an £18m equity fundraise in February 2021. Pre-tax losses were £2,291,336 (H1 2020: […]
Block Energy appoints Jeremy Asher as NED
Block Energy plc has appointed Jeremy Asher as a non-executive director with immediate effect. Mr Asher is currently chairman and CEO of E&P company Tower Resources plc and owner of upstream oil and gas investment company Agile Energy Ltd. He was previously a director of Pacific Drilling SA, where he chaired the remuneration committee, deputy […]
Condor makes significant progress as losses widen
Condor Gold plc’s pre-tax losses increased and cash decreased as it progresses with operations at its La India project in Nicaragua. FINANCES In its unaudited interim results for six months ended June 2021, the company recorded pre-tax losses of £1,013,860 during the first six months of 2021 (H1 2020: £355,419). Net cash used in operating […]