IOG plc has identified undeveloped additional conventional gas resources and several new prospects around the Saturn Banks project in the southern North Sea (SNS). CENTRAL The company, which holds cash of £31.9 million with £6.8m restricted, outlined potential development of at least five contiguous licences in the Vulcan and Jupiter areas. These include the Southwark, […]
Day: 14 November 2024
IOG costs rise up to £3m
IOG plc is making “steady progress” to resolve the oil and gas influx which delayed drilling Blythe H2 development well at the Saturn Banks project in the southern North Sea. BLYTHE H2 The company added that the situation had been “uniquely challenging” but two issues of a stuck drill string and a plugged drillpipe were […]
UKOG plans cased hole flow test at Pinarova-1
UK Oil & Gas plc (UKOG) plans a conventional cased hole flow test after drilling reached final depth of 600 metres below surface in the Pinarova-1 exploration well in Turkey. OIL ODOUR Pinarova-1, 6km north of the Basur-1 oil discovery, is testing whether the Pinarova structure is directly connected to a 9km² underlying light oil […]
Galantas to extend loans after losses rise
Galantas Gold Corporation aims to extend its current loans after it recorded more than a three-fold increase in losses at Cavanacaw gold mine in Omagh, Northern Ireland. FINANCES For the year ended 31 December 2022, Galantas’ financial statement showed net loss rose to C$16,633,939 due to a property, plant and equipment impairment of $10,124,920 (2021: loss […]
Hurricane ‘highly confident’ of full shareholder dividend
Hurricane Energy plc expects to pay full dividends following the 34th cargo of oil, totalling approximately 541 Mbbls, lifted last week from the Lancaster field, West of Shetland. ACQUISITION The cargo was priced at $82 per barrel, resulting in net revenue of c. $43 million. Hurricane said that the two liftings in 2023, totalling 1,041 Mbbls, have […]