Victoria Oil & Gas plc (VOG)’s said it had received US$5.1 million from outstanding invoices, which will strengthen its working capital for its projects in port city of Doula, Cameroon. The company’s subsidiary, Gaz du Cameroun (GDC) agreement is with Eneo and related to take-or-pay invoices for October, November and December 2019 plus associated interest. VOG […]
Oil & Gas
Hurricane at risk without shorter FPSO charter
Hurricane Energy plc said it needed a shorter charter for the Aoka Mizu FPSO than initially agreed to avoid winding down and halting operations at the Lancaster field. COSTS The three-year initial term of the charter expires in June 2022 unless the oil and gas company meets the 4 June deadline to extend for three years […]
Block remains strong with Rustaveli acquisition
Block Energy plc said it built its production and development base and maintained a strong financial position in 2020 due to its acquisition of 100% shares of Block Rustaveli Ltd in West Rustavi, Georgia. The acquisition, formerly Schlumberger Rustaveli Company Ltd, holds the PSCs to Blocks IX and XIB. FINANCIAL In its audited results for the year ended 31 […]
JOG submits CSR and draws interests for GBA farm-out
Jersey Oil & Gas plc (JOG) said it has submitted its concept select report (CSR) to the Oil and Gas Authority (OGA) for the Greater Buchan Area (GBA) in the UK North Sea. The company has also submitted its supply chain action plan (SCAP) to establish an open and honest relationship with all contractors and […]
United boosts oil output from ASD-1X and ASH-1ST2 in Abu Sennan
United Oil & Gas plc announced an increase in oil production following advances at the ASD-1X and ASH-1ST2 wells in its joint venture (JV) Abu Sennan licence in Egypt. Production has started from the ASD-1X exploration well with expected initial gross rates of 1,295 bopd (285 bopd net to United’s working interest). The company also […]
Angus sets up study fund in memory of first employee
Angus Energy plc has established an annual £10,000 fund in memory of its first employee to support students from Bognor Regis and surrounding communities in West Sussex. The Bruce Watt Memorial Scholarship is named after the company’s first employee who died aged 46, leaving a family and two young children. Angus said that the award […]