United Oil & Gas plc announced strong finances for 2021 with a four-fold increase in post-tax profits from its oil and gas assets. OPERATIONS The group’s working interest for 2021 production averaged 2,327 boepd (2020: 2,195 boepd) in line with guidance of 2,100 – 2,300 boepd. United recorded 100% drilling success in a five-well 2021 […]
Tag: company results
Egdon swings to profit on price and production rise
Egdon Resources plc recorded an increase of 500% in overall profits from its onshore oil and gas operations in the East Midlands. OPERATIONS The company’s unaudited results for the six months ended 31 January 2022 show production increased by 116% to 36,714 barrels of oil equivalent (boe) equating to 200 boe per day (boepd) (H1 […]
Hummingbird looks to improve on Q1 operations
Hummingbird Resources plc said it expected operations to improve following first quarter results from its gold expoloration and mining portfolio in West Africa. PRODUCTION The company previously forecast lower Q1 2022 production which was recorded at 15,548 oz gold (Q4 2021: 18,181oz). This was due mainly to the planned essential maintenance work on the processing […]
Deltic nears first exploration drill
Deltic Energy plc is marking 2021 as a year of achievement and progress ahead of drilling the first exploration well in its Southern and Central North Sea portfolio. AGREEMENTS For its audited results for the year ended 31 December 2021, the company confirmed its first exploration well on the Pensacola prospect (licence P2252). The rig selection […]
Oriole marks ‘bounce-back year’ for Africa gold portfolio
Oriole Resources plc said it had started the year in a strong position after a successful 2021 for its gold portfolio in Africa and copper-gold interests in Turkey. FINANCES In its final results for the year ended 31 December 2021, the company reported funds of £2.43 million to allow £1.78m of direct exploration expenditure in Cameroon. Oriole recorded […]
Power Metal halves losses and increases projects
Power Metal Resources plc halved losses and increased its cash balance and projects in metal and mineral exploration across three continents. FINANCES The company’s portfolio includes precious, base and strategic metals in Africa, Australia and North America. In its audited financial results for the year ended 30 September 2021, the company reported loss after tax of […]