UK Oil & Gas plc reported the start of preparations, with access and well pad strengthening and repair, at the Pinarova-1 oil well site in Turkey. PERMITS The service provider PSI’s wireline equipment and operator partner Aladdin Middle East’s swab testing unit will then follow. In December 2023, the 50-50 joint venture received the required […]
Month: December 2024
Oriole considers future of Senala gold project
Oriole Resources plc is considering its next steps, including a joint venture or sale, for the 472.5km2 Senala gold licence in southeast Senegal. AGREEMENT The company’s existing option agreement for the project with earn-in partner Managem Group is due to expire on 17 February 2024. Oriole said that the Moroccan miner, which purchased the interest […]
Karelian’s major investor increases holdings
Karelian Diamond Resources plc reported shareholder Steven Coomber has increased his holdings in the company. As at 2 January 2024, he held 8,408,813 ordinary shares of €0.00025 each, equivalent to 8% of the current issued share capital and voting rights of the company. On 4 December 2023, Mr Coomber held 8,313,133 shares of €0.00025 each […]
United opens new area of Abu Sennan
United Oil & Gas plc has opened a new area of the Abu Sennan licence following petrophysical analysis of tests on the final well drilled in 2023. CHALLENGING The ASD S-1X exploration well, which reached a total depth of 3,450 metres on 12 December, showed a total 9.5 metres of net pay, including 6m net […]
Corcel converts £250,000 CLNs into 32m shares
Corcel plc received notice to convert £250,000 of its outstanding convertible loan notes and associated interest into 32,061,643 new ordinary shares of the company at a price of £0.008. The notice from Extractions Premium & Mining Ltd, of which Corcel executive chairman Antoine Karam owns 45%, leaves the principal balance of the CLNs at £750,000. Following […]
Tullow Oil NED buys 200,000 shares
Tullow Oil plc non-executive director Roald Goethe purchased 200,000 ordinary shares of 10 pence each in the company at a price of £0.38 per ordinary share. The four 50,000 share purchases for a total £76,595 took place on 29 December 2023.