Hurricane Energy plc said it planned to discuss with shareholders the funding and development of the Lancaster oil field, West of Shetland. DEVELOPMENT COSTS Ahead of a decision, Hurricane will focus on a new production well in 2021 in the central attic high of the Lancaster field, by re-entering and side-tracking the existing 205/21a-7z well. […]
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Alba surface trenching reveals significant quartz vein
Alba Mineral Resources plc said it had found a significant 2.1-metre wide quartz vein at the end of the first phase of its surface trenching programme at Dolgellau gold exploration project in North Wales. The metals and minerals mining company has been conducting surface trenching over one of ten separate target areas. A total eight […]
Condor Gold clears site as it transforms into a producer
Condor Gold plc said it had started initial site preparations at the location of the processing plant facility at La India gold mine, Nicaragua. Work includes creating the main plant access road from a regional paved highway to the processing plant, in-plant roads and a bypass road. All key areas for the plant layout – […]
Power Metal to enter 2021 with £2m and no debts
Power Metal Resources plc said it now had working capital of cash and listed investments exceeding £2 million. The junior metal and mineral miner’s added that half of the amount – more than £1.2 million – had been raised from warrant exercises since August 2020. The money put the company in a “robust financial position” […]
Premier and Chrysaor to form Harbour Energy
Chrysaor Ltd and Premier Oil plc’s proposed reverse takeover will result in a new name for the company of Harbour Energy plc. Harbour Energy will be the largest London-listed independent oil and gas company by production and reserves. The company’s board will comprise 11 directors including six independent non-executive directors, two non-executive directors appointed by funds […]
Premier to meet production target ahead of Chrysaor deal
Premier Oil plc reported it produced an average 61.2 kboepd for the first 11 months of 2020 and expected to meet its full-year guidance of 61‐64 kboepd. The company, currently engaged in a reverse takeover with Chrysaor, said 2021 production would be marginally higher at 61-66 kboepd, reflecting new production its operated Tolmount gas field […]