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 […]
Legal
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 […]
Wressle JV expects wells consent to be quashed
The Wressle joint venture expects September’s local authority permission to be quashed for two new wells at the onshore Lincolnshire site. SCREENING North Lincolnshire Council informed the companies that, following legal opinion and the Supreme Court decision in June, it would not resist a proposed legal action to challenge the consent. The court ruled that applications […]
Rockhopper agrees Italy insurance and exit
Rockhopper Exploration plc has secured an insurance policy in case the Italian government succeeds in annulling the company’s Ombrina Mare arbitration award. CLARITY The company has also signed a share purchase agreement with Zodiac Energy Ltd for its other Italian assets to focus on the South Falkland Basin. Rockhopper said that the insurance policy would […]
IOG extends administration period
IOG plc, operator of the Saturn Banks gas project in the southern North Sea, has entered a 12-month extended period of administration. The company last year faced rising costs along with demands to repay postponed interest under a €100 million senior secured bond. IOG appointed administrators in October 2023. Companies House recorded the extension, with […]
Buchan first oil delayed pending emissions guide
Jersey Oil & Gas plc partner in the Buchan Horst project will “materially slow” activities while awaiting new government environmental guidance for oil and gas firms. LICENCE Operator NEO Energy and its owner HitecVision will wait for clarity “around the UK regulatory and fiscal framework so that the full impact can be assessed.” “This will […]