Baron Oil plc has conditionally raised £6 million before expenses via a placing, subscription and a retail offer. DIRECTORS’ DEALINGS The placing was for a total 4,166,666,667 new ordinary shares of 0.025p each in the company at 0.12 pence per new ordinary share. Chief executive Andrew Yeo subscribed for 8m new ordinary shares, taking his holding to 193m, […]
Month: November 2024
United to bring ASH-4 on stream at Abu Sennan
United Oil & Gas plc said it expected to bring on stream the ASH-4 development well in the Abu Sennan joint venture (JV) licence onshore Egypt. ASH-4 ASH-4 is a step-out development well in the ASH field reached total depth of 4,000 and encountered 20 metres of net pay through the primary Alam El Bueib […]
Orcadian granted licence extension for Pilot
Orcadian Energy plc has received a one-year extension to its licence P2244 containing the Pilot oil field in the North Sea. DEVELOPMENT The second term of licence P2244, granted by the North Sea Transition Authority (NSTA), was due to expire at the end of November 2022 but will now remain valid until the end of […]
Baron Oil appoints Keith Bush as NED
Baron Oil plc has appointed Keith Bush as an independent non-executive director, with immediate effect. Mr Bush has a petroleum background and worked for more than 30 years in the energy industry. He spent six years with Amerada Hess Ltd followed by five years with Burlington Resources. Mr Bush then held senior management positions with […]
Europa posts £6.6m revenue and 183% production rise
Europa Oil & Gas (Holdings) plc saw revenue more than quadruple and onshore oil production increase by 183% mainly from its share in the Wressle joint venture in the East Riding of Yorkshire. FINANCES The company’s final results for the year to 31 July 2022 showed revenues of £6.6 million (2021: £1.4m), and pre-tax profit […]
NSTA investigates suspected breach of licence condition
The North Sea Transition Authority (NSTA) is investigating an operator suspected of breaching one of its licence conditions. OBLIGATIONS The regulator will assess whether the licensee conducted a well test – intended to gauge whether or not the reservoir can produce oil or gas – without consent and failed to provide timely notification of the […]