Neptune Energy has started drilling on the Ofelia exploration oil well in the Norwegian sector of the North Sea. OFELIA The Ofelia prospect is located 13km north of the Gjøa field within the Neptune-operated PL929 licence, and lies in one of Neptune’s core areas and close to existing infrastructure. The reservoir target is the Lower […]
Month: November 2024
Power Metal increases Canadian uranium assets
Power Metal Resources plc has increased its Canadian uranium portfolio to 10 properties and plans more acquisitions in the area surrounding the prolific Athabasca Basin in Saskatchewan, Canada. PROPERTIES The three new properties, covering 271km2, include Porter Lake, Old Woman Rapids and Reindeer Lake and take the company’s total holding to 721km2. TERMS Power Metal’s costs […]
Red Rock issues £623,000 of convertible notes
Red Rock Resources plc has issued £623,000 of convertible notes with accompanying warrants to high net worth investors. CONFIDENCE The company said that £367,000 of subscriptions for the notes were new subscriptions, and £256,000 were conversions of debt facilities. The notes were issued at par and are convertible into ordinary shares of £0.0001 in Red […]
Deltic-Shell commit to drilling Selene
Deltic Energy plc and joint venture partner Shell UK Ltd have made the investment decision to drill the high impact Selene gas prospect off the northeast coast of England. SCHEDULES The company added that the timing of a well slot had yet to be confirmed and would be subject to drilling schedules. This is expected […]
Rockhopper given two more years for Falkland licences
Rockhopper Exploration plc has secured a two-year extension to its licences in the North Falkland Basin. TRANSACTION The additional period was granted as part of the transaction, expected to complete during Q3 2022, of the change in companies involved in the project. Rockhopper added that the Falkland Islands Government and the UK Secretary of State had received […]
Block starts Project II to deepen existing oil well in undrained reservoir
Block Energy plc plans to deepen an existing oil well in Block XIB as the company begins the second of its three-project strategy in Georgia. PROJECT II Project II involves the re-development of the Patardzeuli Middle Eocene reservoir. The company will drill well JSR-01DEEP by September using cash generated from operations. Project II will run […]