Union Jack Oil plc recorded its first net profit of £3,606,624 post tax from a 340% increase in oil revenues mainly from the Wressle joint venture in the East Riding of Yorkshire. FINANCES The company’s audited results for the year ended 31 December 2022 showed revenues from oil sales of £8,507,050 (2021: £1,894,875) from Wressle […]
Day: 13 November 2024
Scotgold finds lower than expected grade at Cononish
Scotgold Resources Ltd said it had encountered “lower than expected grade” at 19m of the 115m strike length in Cononish gold and silver mine near Tyndrum in Scotland. OPERATIONS The company added that long hole stoping was “progressing well” and “for the most part” in line with the 2023 mine plan. A total of 1,956 […]
Neptune welcomes opening of upgraded Njord field
Neptune Energy welcomed the official opening of the Njord field, following a major upgrade, in the Norwegian Sea. DEVELOPMENTS The company which holds 22.5% said Njord, operated by Equinor Energy, is expected to produce oil and gas for another 20 years. The Njord Area will provide Neptune with net production of 30,000 barrels of […]
Scotgold raises £2m via open offer-subscription
Scotgold Resources Ltd has raised a total £2 million from an open offer and subscription for its Cononish gold-silver mine near Tyndrum. BOARD APPOINTMENT The open offer, closed on 12 May, will see the maximum number of 10,065,262 open offer shares issued, raising £1.5 million. On admission, Scotgold will have 80,500,346 ordinary shares in issue […]
IOG on course for first gas at Blythe H2
IOG plc said it was on course for first gas by the end of the second quarter after overcoming problems from the gas and oil influx at the Blythe H2 well at the Saturn Banks project. REVISED PLAN In mid-April a gas and oil influx from the Hauptdolomit, encountered while drilling the development well, gave […]
GreenRoc awards PEA contract
GreenRoc Mining plc has awarded the contract for a formal preliminary economic assessment (PEA) and established a subsidiary at its Amitsoq graphite project in Greenland. COSTS SLR Consulting Ltd will begin work this month and expects to complete the PEA by September 2023. Chief executive Stefan Bernstein said that the PEA would be the first […]