A public inquiry has started on West Cumbria Mining’s plans for a £160 million metallurgical coal mine under the seabed near Whitehaven off the coast of Cumbria. TIMELINE The inquiry follows a decision by the Secretary of State for Local Government, Housing and Communities Robert Jenrick to call in the application for Woodhouse Colliery despite […]
Day: 15 November 2024
Chariot signs drill contract for Anchois gas appraisal well
Chariot Ltd has signed a contract with Stena Drilling to use its Stena Don drilling rig for the planned Anchois gas appraisal well within the Lixus licence, offshore Morocco. PROGRAMME Stena Don is a semi-submersible rig, suitable for drilling, completion and workover operations. Appraisal drilling is expected to start during December 2021 and take up […]
United signs £3.2m SPA with Quattro for Maria discovery
United Oil & Gas plc has entered into a binding sale and purchase agreement (SPA) with Quattro Energy Ltd to sell its UK Central North Sea Licences P2480 and P2519 for a headline consideration of up to £3.2 million. TERMS Quattro will pay an initial £2m to United in cash on completion. A further £1.2m will be paid to […]
Cairn Energy nears end of tax dispute with India
Cairn Energy plc announced that it had nearly resolved the outstanding tax issues with India and soon expected to complete its acquisition in Egypt. INDIA Cairn said that a near-term India resolution would see up to $700m (£500m) returned to shareholders via special dividend and buyback, subject to approval. The remainder will be retained to […]
Power Metal sells Schreiber-Hemlo assets for £1m
Power Metal Resources plc has sold some of its 100% Schreiber-Hemlo interests in Ontario to First Class Metals Ltd (FCM). STRATEGIC UK minerals explorer FCM, seeking to list later in 2021, aim to prove and develop the potential of the Pezim blocks, Esa and Sugar Cube gold-base metal projects. FCM will pay £1 million through the issue of […]