News Oil & Gas

Deltic given more time to find Pensacola partner

Posted on Author editorial Comment(1)

Deltic Energy plc has been granted more time to find a farm-in partner for the southern North Sea licence P2252 containing the Pensacola gas discovery.  

Uncertain: discussions must be concluded within the timeframe (stock photo)

APPRAISAL

The company had until the end of May to find £15 million for its share of the costs or withdraw from its 30% licence interest.

Deltic today said that operator Shell UK Ltd had given it until 12 June to progress discussions with potential partners.

“There is however no guarantee that discussions will be concluded successfully within that timeframe and, in such circumstances, Deltic will be required to withdraw from the Pensacola licence and transfer its interest in Pensacola to its joint venture partners,” it added.

Shell is due to drill an appraisal well on the licence later this year.

Related Articles
Finance News Oil & Gas

Angus to acquire remaining Saltfleetby stake for £14m

Posted on Author editorial

Angus Energy plc has signed an agreement to acquire the remaining share from its joint venture partner in the onshore Saltfleetby gas project in east Lincolnshire. SUBSCRIPTION The company will acquire the entire issued share capital of Saltfleetby Energy Ltd (SEL), which owns a 49% working interest in the project, from the seller Forum Energy […]
News Oil & Gas

Rockhopper signs Falklands deal with Navitas

Posted on Author editorial

Rockhopper Exploration plc has signed detailed heads of terms for Harbour Energy plc to exit the Falklands Islands and for Navitas Petroleum LP to farm-in. PARTNERS Harbour will sell its interests leaving Rockhopper with 35% and Navitas 65% compared with 30% each previously. Rockhopper and Navitas, the planned operator, will align working interests across their Falkland […]
Metals & Minerals News

Kavango marks priority target areas in KCB copper-silver licences

Posted on Author editorial

Kavango Resources plc said it had delineated 13 priority target areas in four of its 12 copper-silver prospecting licences (PLs) in the Kalahari copper belt (KCB), Botswana. PROGRAMME The company’s field exploration has for the past 12 months focused on PLs 082/2018, 036/2020, 049/2020 and 052/2020. Kavango added it had finalised a flexible strategy, to […]

One Reply to “Deltic given more time to find Pensacola partner”

  1. Pingback: Deltic withdraws from Pensacola - Extractive Industries

Comments are closed.