Block Energy plc expects to complete its gas sales pipeline this year and start sales from its projects in Georgia. FINANCES Block’s three current licences are West Rustavi (100% working interest), Norio (100%), and Satshenisi (90%). In its interim results for six months ended 30 June 2020, the company reported revenue from oil sales of $313,000 (2019: […]
Tag: extractive industries
Anglesey positive on metals market despite losses
Anglesey Mining plc, focused on gold-silver-lead-copper-zinc exploration in Wales and iron in Sweden and Canada, posted wider losses but remains optimistic on the future for mineral projects and companies. In its annual report, the company posted losses before tax of £305,510 for the financial year ended 31 March 2020 (2019: £234,621). The company had £95,311 […]
United H1 success secured by Egyptian assets
United Oil & Gas plc reported a successful first half of 2020 with group revenue of $2.4 million (£1.86m) and gross profit of $0.3 million (£0.23m) due to the company’s integration of its Egypt assets. Interim results showed profit after tax at $1.8 million (£1.4m) with realised oil price of $28.26/bbl. Cash collections in the […]
JOG looks to ‘exciting’ future with larger portfolio
Jersey Oil and Gas plc (JOG) said it had exciting prospects with a strong cash position of £8.9 million for the first half the year and increased assets, despite trebling losses. RESOURCES Losses for H1 2020 before and after tax totalled £1.2m (H1 2019: £400,000) with expenditure related to the company’s flagship Greater Buchan Area development project […]
OGA tells operators to reduce flaring-venting
Greenhouse gases from oil and gas flaring and venting on the UK Continental Shelf need to be further reduced, said the Oil and Gas Authority (OGA). Although some operators have lowered emissions, the volume of gas flared and vented in oil and gas production last year was equivalent to 3% of all the natural gas […]
Altona to raise £500,000 for Africa REEs
Mining exploration company, Altona Energy plc, is looking to raise up to £500,000 for its new strategic focus on rare earth elements (REEs) in East Africa. The company has signed heads of agreements with two African mining companies, to acquire a majority stake in two REE projects, one in Malawi and the second in Uganda. […]