Ascent Resources plc said additional bureaucracy had delayed a £1 million direct subscription for shares by future investor Beryl International (Pty) Ltd. ‘GREYLIST’ In February, the company announced a collaboration with Beryl to identify and jointly fund metals opportunities in Latin America and Africa. Ascent today said that the delay was caused by additional processes […]
Month: November 2024
NSTA investigates suspected failure to meet work obligations
The North Sea Transition Authority said it was investigating an oil and gas company suspected of failing to meet licence obligations designed to stimulate activity in support of the UK’s energy security. SEISMIC SURVEY The regulator will consider whether the company was obliged under the terms of a licence it was awarded in a prior […]
Galantas increases target fundraise to C$2.75m
Galantas Gold Corporation said that additional interest had prompted it to increase the previously announced non-brokered private placement and target fundraise from C$2 million to $2.75m. USES In March, the Canadian company announced an offering of up to 5,555,555 units of the company, each at C$0.36, which is now raised to 7,638,888 units. Net proceeds […]
United starts early production from ASH-8
United Oil and Gas plc has started production six weeks before the anticipated date from the ASH-8 development well in the Abu Sennan joint venture (JV) licence, onshore Egypt. ASH-8 The well is the JV’s first in its 2023 campaign and the fifth well in the ASH field, with production through existing ASH facilities. ASH-8 […]
Egdon production and revenue increase
Egdon Resources plc reported a rise in production and revenue mainly from its operations at the joint venture Wressle oil field in North Lincolnshire. FINANCES The company’s summary unaudited trading report for six months ending 31 January 2023 showed revenue increased by 46% to £3.725 million (H1 2022: £2.551m). As at 31 January 2023, Egdon […]
Capricorn JV reports new oil discovery offshore Mexico
Capricorn Energy plc’s joint venture partner Eni reported a new discovery on the Yatzil exploration prospect in Block 7 in the mid-deep water of the Cuenca Salina in the Sureste Basin, offshore Mexico. YATZIL-1 EXP In a statement, Eni said that preliminary estimates indicated that the new finding may contain around 200 million barrels of oil […]