Serica Energy plc has secured a two-year extension to its OFAC licence and secondary sanctions assurance relating to the Rhum field in the UK Northern North Sea. BENEFIT The licence and assurance permit certain US and US-owned or controlled entities, and all non-US entities, to continue providing goods, services and support to the field. Issued […]
Legal
Red Rock pursues DRC arbitration
Red Rock Resources plc said it remained on course with its arbitration proceedings in the Democratic Republic of Congo, despite conflict and demonstrations. PARTNERS Chairman Andrew Bell added: “Inevitably the invasion in the east of the country has been a distraction and caused delay, including days when offices were shut and flights cancelled. “By maintaining […]
Tullow ruled exempt from $320m tax
Tullow Oil plc said it was not liable to pay $320 million tax on its offshore Ghana petroleum agreements following today’s ruling from the International Chamber of Commerce. FOCUS The amount relates to the branch profit remittance tax (BPRT) under the Deepwater Tano and West Cape Three Points petroleum agreements, which include the Jubilee and […]
Dalradian poised for public inquiries
Dalradian Gold Ltd is nearing conjoined public inquiries over the next three months for its exploration and mining plans at Greencastle in the Sperrin Mountains, County Tyrone. DECISIONS The Planning Appeals Commission (PAC) deferred its hearing, due to start in September 2024, following the Water Appeals Commission’s concerns over applications relating to water abstraction and […]
Red Rock discusses new DRC opportunities
Red Rock Resources plc has attended a “series of important meetings” on new business opportunities in the Democratic Republic of Congo. DISCUSSIONS The company said it had also signed a framework agreement with its local associate Koto DRC SARL for an equal new joint venture, conditional on acquiring suitable assets. Red Rock expects to return […]
Karelian mine boundaries finalised for Lahtojoki
Karelian Diamond Resources plc said that the mine boundaries for the Lahtojoki project have been finalised after no appeal was lodged against the August court ruling. RULING Two landowners had 60 days to appeal against the amounts of compensation due to them as well as the mine boundary. The company’s legal advisors have confirmed that […]