News Oil & Gas

Reabold eyes gas Victory after Corallian investment

Reabold Resources plc has increased its share in Corallian Energy Ltd to 2,780,049 after investing £600,000. The hydrocarbon investment company exercised 272,727 warrants over shares in Corallian Energy Limited at £2.20 per share, equating to approximately £600,000. Reabold now holds 36.9% of Corallian’s then issued share capital. In the 32nd Licensing Round, the Oil and […]

News Oil & Gas

IGas aims to extend licence for ‘world class’ shale gas

Island Gas Ltd (IGas) has applied to extend by three years the life of its proposed development of shale gas in the village of Misson, North Nottinghamshire. The company said it wanted the extension to allow the Government to consider fully the future of hydraulic fracturing, or fracking, following the moratorium introduced on 4 November […]

News Oil & Gas

Cuadrilla surrenders its Lancashire shale gas permit

Shale gas company Cuadrilla Bowland Ltd has surrendered its exploration permit for the Bowland Basin in Preston, Lancashire. MORATORIUM The Environment Agency (EA) said today that the company, owned by Australian mining and infrastructure company AJ Lucas, had returned the site to a satisfactory state. The EA added that Cuadrilla had also taken necessary steps […]

News Oil & Gas

United aims to exceed production guidance

United Oil & Gas plc announced it expected to exceed the previous guidance of 2,300 boepd when the company starts drilling at its joint venture Abu Sennan licence, onshore Egypt. DRILL CAMPAIGN The company said it had awarded an EDC-50 rig contract with low-cost rig rates linked to oil prices. The rig is due to […]