Red Rock Resources plc and Power Metal Resources plc have started the incorporation of a new holding company for their joint venture in the Victoria gold fields, Australia. IPO The companies’ current joint company, Red Rock Australasia Pty Ltd (RRAL), will be held in New Ballarat Gold Corporation plc (NBGC). RRAL will become a wholly owned […]
Day: 15 November 2024
Power Metal chairman Andrew Bell to step down
Power Metal Resources plc announced that Andrew Bell will step down as chairman and a director on 30 September 2021. Mr Bell will continue to work with Power Metal in an advisory capacity for a minimum of 12 months. His focus will be on Red Rock Resources plc and the new planned London capital market IPO of New Ballarat […]
Wressle-1 well continues to ‘exceed expectations’
Egdon Resources plc said production continued to exceed expectations since the proppant squeeze at the Wressle-1 well on PEDL180 and PEDL182 in East Yorkshire. REVISED PERMIT The company also announced it had received the revision to the Environmental Permit. This will allow installation of a combustion plant for gas-to-electric generation and a new potential revenue […]
Egdon expects November date for Biscathorpe side-track plans
Egdon Resources plc said it expected its plans for the side-track drilling, testing and production at Biscathorpe PEDL253 to be heard by Lincolnshire County Council during November. JOINT VENTURE Subject to approval, the Biscathorpe side-track will target the Dinantian Carbonate. A 68 metre oil column was discovered in Biscathorpe-2 with gross mean prospective resources (GMPR) of 2.55 […]
Altus discovers hard rock artisanal gold workings in Egyptian projects
Altus Strategies plc has discovered numerous hard rock artisanal gold workings at its Gabal om Ourada and Wadi Dubur projects in the Eastern Desert of Egypt. RECONNAISSANCE The company’s 100% owned subsidiary, Akh Gold Ltd holds gold exploration licences covering 1,565 km2. The 37 hard rock artisanal gold workings were discovered from field reconnaissance across two […]
United notes positive results from ASX-1X well in Abu Sennan
United Oil & Gas plc said that the ASX-1X exploration well encountered at least 10 metres net pay in a number of oil-bearing reservoirs in the Abu Sennan licence, onshore Egypt. ASX-1X Once the well has been completed and successfully tested, an application will be made to the Egyptian General Petroleum Corporation (EGPC) for a development lease. […]