Rockhopper Exploration plc said it had received €19 million of the €45m tranche I payment of the Ombrina Mare arbitration award. CASH BALANCE The balance of €26m goes to the original arbitration funder, while tranches II and III remain payable to Rockhopper upon a successful annulment outcome. The company’s legal representatives will receive success fees of […]
Month: December 2024
UKOG to comply with ‘perplexing’ Horse Hill ruling
UK Oil & Gas plc will submit a new plan or amend its existing one for Horse Hill oil production after yesterday’s ruling that end-use burning emissions must be included in the application. REGULATIONS The legal challenge was brought by Sarah Finch on behalf of the Weald Action Group (Finch et al) to Surrey County […]
Baron enters year three of Chuditch PSC
Baron Oil plc has entered year three of the Chuditch production sharing contract as it continues to prepare financing for an appraisal well, offshore Timor-Leste. DISCUSSIONS Subsidiary SundaGas holds a 60% working interest in the joint venture with state-owned Timor Gap Chuditch Unipessoal Lda. For the third year, which began on 19 June, the partners […]
Galantas completes trial stoping at Cavanacaw
Galantas Gold Corporation said it had increased confidence in developing Cavanacaw gold mine after completing trial stoping at the site in Omagh, County Tyrone. OPTIMISATION The Canadian company successfully mined and backfilled six stopes using a narrow vein, modified Avoca longhole open stoping method, in two separate blocks. A planned minimum stope width of 2.2 […]
Power Metal signs 75% option for Cherished Hope
Power Metal Resources plc has signed a 75% share option over its 100% owned licence, containing the Cherished Hope gold mine, on the Tati Greenstone Belt, Botswana. MINING The agreement is between its local subsidiary Tati Greenstone Resources Pty Ltd (TGR) and Tuscan Holding Pty Ltd which is held by Medici Mining Investment LLC registered in Delaware, USA. If […]
Red Rock takes 100% of Australia gold JV
Red Rock Resources plc now owns 100% of its Australian gold joint venture after completing the purchase of its partner’s share. The company bought Power Metal Resources plc’s 49.9% interest in subsidiary New Ballarat Gold Corporation plc, which wholly owns local operator Red Rock Australasia Pty Ltd. The transaction covers exploration licences in the Victoria […]