The Parkmead Group plc has been formally awarded 50% of the Fynn Beauly heavy oil discovery, estimated to hold oil-in-place of 740 million to 1.33 billion barrels, in the Outer Moray Firth. UNCERTAINTIES The operator will share licence P2634, comprising blocks 14/15a, 14/20d and 15/11a, with Orcadian Energy plc who holds a 50% interest. An […]
Month: November 2024
CMR raises £900,000 for Igli silver option
Critical Mineral Resources plc has raised £900,000 for the newly signed exclusive option to acquire the high-grade copper-silver Igli project in the Anti-Atlas, Morocco. TARGETS A total £750,000 was raised yesterday through the issue of a convertible loan note, of which a “significant” proportion will come from Swiss and UAE-based Prism Group AG. The company […]
Alba raises £300,000 via placing
Alba Mineral Resources plc has raised £300,000 in a placing and subscription of 857,142,857 new ordinary shares at 0.035 pence per ordinary share. USES Chairman George Frangeskides subscribed for 48,571,428 shares for £17,000 and non-executive director Michael Nott subscribed for 8,571,428 (£3,000). Following admission, the total number of ordinary shares in issue will be 9,175,447,238, with voting rights. The […]
Union Jack nears testing Andrews 2-17
Union Jack Oil plc will begin completion and production testing in the next 14 days of the Andrews 2-17 well in Seminole County, Oklahoma. PIPELINE Partner and operator Reach Oil & Gas Company Inc spud the well eight days ago, drilling to a total depth of 4,850 feet and penetrating the Hunton Limestone at 4,180 […]
Altona secures more time for Sesana option
Altona Rare Earths plc has agreed a further extension to the Sesana copper option in Northwest District, Botswana. The binding agreement for the PL2329/2023 is valid for copper, cobalt, gold, silver, lead, zinc, aluminium, chromium, iron, titanium and platinum group metals. The company has extended the exclusivity period with Ignate African Minerals Ltd until 15 August […]
Angus completes Saltfleetby maintenance
Angus Energy plc has completed the planned annual maintenance shutdown at the Saltfleetby gas site, east Lincolnshire. The scheduled five-day outage, finished on 13 July, included maintenance and improvement work, including the installation of compressor acoustic hood. The company reported no safety incidents and no harm to the environment. Dual compressor operation resumed during the […]