Ascent Resources plc plans to appoint Ibrahim Diab as executive chairman and has appointed Lionel Therond as chief financial officer. The changes are in a “strategic collaboration” with Delta Energy Corp SARL. Mr Diab and Eric Faillenet, former managing director at Carlyle International Energy Partners and previously a Perenco senior executive, co-founded London and Luxembourg based-Delta. […]
Tag: oil and gas
Deltic given more time to find Pensacola partner
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. 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 […]
Corcel partner halts TO-13 drill on ‘minimal oil’
Corcel plc said that initial drilling and testing had been suspended of its onshore TO-13 well in Angola following “inconclusive results”. POTENTIAL “After several weeks of well testing and engineering efforts the well has produced minimal levels of water and oil to date,” added the company. Operator Sonangol will turn its focus to geological and geophysical […]
Block issues bonus-incentive share options
Block Energy plc has awarded bonuses of 22,607,850 nil cost options, of which 20,945,032 are to directors or persons discharging managerial responsibilities, over ordinary shares of 0.25p each. AWARDS The awards, under the company’s performance-related bonus scheme for senior executives, are made in February for the previous year. The awards can be in cash, shares […]
Baron Oil chairman buys 30m shares
Baron Oil plc independent non-executive chairman Gerry Aherne has bought 30 million ordinary shares of 0.025 pence each in the company, at a price of 0.0676 pence per share. Mr Aherne’s total beneficial shareholding of 30m shares represents approximately 0.12% of the company’s current voting rights. The £20,280 purchase took place on 28 May.
Baron Oil to change company name
Baron Oil plc plans to change its name to Sunda Energy plc, reinforcing its “unambiguous” focus on southeast Asian energy markets. DEMAND The company’s project is the offshore Timor-Leste TL-SO-19-16 production sharing contract, where the Chuditch-2 appraisal well is due to be drilled. Baron said it was concentrating on potential Chuditch drill funding partners and […]