Block Energy plc is preparing the farm-out process for the company’s project III, comprising blocks XIB and XIF, in Georgia. STRATEGY The project spans the three fields of Patardzueli, Rustavi and Teleti, which are all under a PSC until 2048. Operations focus on the “multi-tcf undeveloped gas resource” within the Lower Eocene and Upper Cretaceous […]
Month: November 2024
Ascent increases estimate of Petišovci proceeds
Ascent Resources plc has increased its estimate of production proceeds from €3.5 to around €8 million based on revealed data from the Petišovci gas joint venture in Slovenia. COURT ORDER A data disclosure instruction since October’s decision from the arbitration tribunal shows the historic production data, which Ascent used to calculate the proceeds to which […]
EnQuest agrees £46m sale of Bressay interest
EnQuest plc has agreed a £46 million sale of a 15% working interest in the North Sea Bressay field and its producer FPSO* to RockRose UKCS 10 Ltd. PRODUCTION RockRose, subsidiary of Viaro Energy, will pay an initial £34.75m and the remaining £11.25m from future Bressay cash flows. RockRose will pay its equity share of […]
Corcel reshapes board with new directors
Corcel plc has appointed three new directors to its board with immediate effect and expects to add a further two on completion of checks. MD Angola and chief commercial officer Geraldine Geraldo joins as an executive director. Ms Geraldo has a legal and business development background and more than 15 years’ experience in the oil […]
Europa expands into Equatorial Guinea
Europa Oil & Gas (Holdings) plc has broadened its portfolio with an interest in a production sharing contract, offshore Equatorial Guinea. DRILL-READY The company purchased 42.9% equity in explorer Antler Global Ltd via a US$3 million cash share subscription, payable in four instalments. Antler holds an 80% working interest in the “highly prospective” EG-08 PSC […]
Altona agrees £250,000 loan for Monte Muambe PFS
Altona Rare Earths plc has agreed a £250,000 loan to advance the prefeasibilty study for Monte Muambe in northwest Mozambique. The two-tranche loan from Catalyse Capital Ltd, which has previously supported the company, will progress work focused on metallurgy. The repayment date is 20 December 2024 and the loan carries a fixed interest of 20% […]