Orcadian Energy plc has welcomed its new partner for licence P2634, containing the Fynn Beauly oil discovery, in which the company holds a 50% interest. SCALE Serica Energy plc agreed the acquisition from The Parkmead Group’s UK and Netherlands exploration assets sale. The “very substantial viscous and heavy oil discovery” has a gross P50 contingent […]
Oil & Gas
Orcadian agrees 50% sale of Earlham-Orwell
Orcadian Energy plc has provisionally agreed to a 50% farm-out for $2.2 million of a sub-area of the licence P2680, including the Earlham and Orwell prospects, in the southern North Sea. DEBT Purchaser Marine Low Carbon Power Company Ltd, owned by IPCNWE and Richmond Offshore Energy Ltd, will become the operator on regulatory approval of […]
Reabold increases stake in West Newton
Reabold Resources plc has invested a further 20.4% of shares for £700,000 in the operator of the onshore West Newton development, Rathlin Energy (UK) Ltd. SIDETRACK The acquisition from Rathlin’s owner Calgary-based Connaught Oil & Gas Ltd will result in Reabold holding a 69.9% economic interest in PEDL183 via its 79.8% shareholding in Rathlin. Rathin […]
Tullow in all-share offer talks with Kosmos
Tullow Oil plc said it was in preliminary discussions regarding a possible all-share offer for the company by Dallas-based Kosmos Energy Ltd. ASSETS The American company has until 5pm on 9 January 2025 either to announce whether or not it intends to make an offer. The deadline can be extended with the consent of the […]
United conditionally raises £700,000
United Oil & Gas plc has conditionally raised £700,000 via a placing and subscription for a total 700 million new ordinary shares of £0.00001 each in the capital of the company, at £0.001 each. JAMAICA Proceeds will go towards work programme obligations and seeking a farm-out for the 22,400km2 Walton Morant exploration licence, offshore Jamaica. The fundraise […]
Europa appoints shareholder as NED
Europa Oil & Gas (Holdings) plc has appointed Bo Krøll to the board as a non-executive director with immediate effect to increase representation of its shareholders. Chief operating officer Alastair Stuart leaves the board in order to maintain a majority of independent non-executive directors on the board. Mr Krøll is a proven entrepreneur, businessman and long-term shareholder in Europa […]