Baron Oil plc’s subsidiary has secured a six-month extension to the production sharing contract ahead of committing to drilling the Chuditch-2 appraisal well, offshore Timor-Leste. PREPARATIONS The PSC for the company’s wholly owned subsidiary and operator SundaGas Banda Unipessoal Lda now ends on 18 June 2024. A formal decision on whether to enter the drilling phase for […]
Month: December 2024
Ormonde encouraged by Golden Rose sampling results
Ormonde Mining plc reported “significant” gold-copper assay results from its investee’s prospecting and bedrock sampling in the Central Newfoundland gold belt. TIER-1 POTENTIAL TRU Precious Metals Corp used recent high resolution satellite and remote sensing data over the property to discover new gold and critical minerals targets at the Golden Rose project. Ormonde said that grab […]
Helium One needs more funds to drill Itumbula well
Helium One Global Ltd needs further funds to drill the Itumbula well once it has repaired its drill rig on the Rukwa licence in Tanzania. COSTS The company has faced setbacks from delays and component failures but aims to spud the new well in early January 2024. A full cost analysis and budgeting exercise showed […]
Altona secures majority share in Monte Muambe
Altona Rare Earths plc today confirmed it had secured the majority shareholding in the Monte Muambe project in northwest Mozambique. DE-RISKING The increase from 20 to 51% ownership of subsidiary and licence holder Monte Muambe Mining Limitada follows completion in October of phase II involving the scoping study. The transfer is subject to final approval […]
Deltic relinquishes Cadence licence
Deltic Energy plc has been refused more time to find a new partner to develop licence P2567, Cadence, in the southern North Sea. CADENCE-CUPERTINO In July, the company said it planned to retain P2567 and P2428 (Cupertino) subject to the North Sea Transition Authority granting more time to find a new partner after Capricorn Energy […]
Deltic on course to drill Selene and Pensacola wells
Deltic Energy plc preparations continue for drilling the Selene gas exploration well and Pensacola appraisal well during 2024 in the southern North Sea. FINANCING Site survey work, rig selection and contracting process for both wells continue ahead of drilling Selene on licence P2437 during Q3 2024 and the Pensacola discovery in late 2024. Deltic estimates […]