Corcel plc has granted a total 307,033,155 five-year share options to directors and key executives. An aggregate 15,745,290 options fall under the company’s existing enterprise management scheme. Each option entitles the holder upon exercise to one ordinary share of £0.0001 of the company. One third of the options issued will vest in December of each […]
Tag: oil
UKOG plans cased hole flow test at Pinarova-1
UK Oil & Gas plc (UKOG) plans a conventional cased hole flow test after drilling reached final depth of 600 metres below surface in the Pinarova-1 exploration well in Turkey. OIL ODOUR Pinarova-1, 6km north of the Basur-1 oil discovery, is testing whether the Pinarova structure is directly connected to a 9km² underlying light oil […]
United spuds ASD-3 and notes strong ASH-8 performance
United Oil & Gas plc has spud the ASD-3 development well on the joint venture Abu Sennan licence, onshore Egypt. ASD-3 The company holds a 22% non-operating interest in the licence, which is operated by Kuwait Energy Egypt. ASD-3 will be drilled to approximately 1.2km to the north-west of the ASD-2 well which was drilled […]
Union Jack looks to positive 2023 at Wressle
Union Jack Oil plc started 2023 with a positive trend for the Wressle onshore oil joint venture, recording material net revenues in excess of $14 million since production restarted. ZERO WATER CUT The company holds a 40% economic interest in licences PEDL180 and PEDL182 on the western margin of the Humber Basin. Partners include operator […]
Rockhopper welcomes Navitas $2.2bn plan for Sea Lion
Rockhopper Exploration plc reported a revised $2.2 billion development plan showing phased drilling of 23 wells for 269 million barrels of oil at the Sea Lion joint venture project in the North Falkland Basin. SEA LION In its 2022 presentation, the company described the Sea Lion project as a world class field that was larger […]
Egdon production and revenue increase
Egdon Resources plc reported a rise in production and revenue mainly from its operations at the joint venture Wressle oil field in North Lincolnshire. FINANCES The company’s summary unaudited trading report for six months ending 31 January 2023 showed revenue increased by 46% to £3.725 million (H1 2022: £2.551m). As at 31 January 2023, Egdon […]