Prospex Energy plc said it had achieved stable production rates and “substantial” cash flows from the Podere Maiar-1 gas facility on the Selva Malvezzi production concession in north Italy. PRODUCTION Operator Po Valley Energy Ltd (63%) began production at PM-1 on 4 July and reached c.72,000 standard cubic metres per day (scm/d) during the initial testing […]
Tag: Italy
Rockhopper awaits ruling on Italy’s move over award
Rockhopper Exploration plc said today that the Italian Government’s request to annul the €247 million award relating to the Ombrina Mare oil field dispute is due to have its final hearing during Q1 2024. AWARD The award comprises €190 million plus accrued interest from January 2016 to August 2022. Interest was paused for four months following the […]
United raises production guidance after ‘landmark’ 2020
United Oil & Gas plc recorded its first year of revenues in 2020 and raised 2021 full-year production guidance for its licences in Egypt. ABU SENNAN Results for the year ended 31 December 2020 showed group profit of $850,000 with $9.1m (£6.5m) revenues from its Rockhopper Egypt acquisition (28 February – 31 December 2020). United’s cash capital […]
United looks to Selva gas after EIA is approved
United Oil & Gas plc said that environmental approval has been given for its Selva natural gas interest east of Bologna in northern Italy. The Podere Gallina licence, held by Australian operator Po Valley Energy Ltd, is for the development of the onshore Selva natural gas field concession in which United has a 20% economic […]