Europa Oil & Gas (Holdings) said it hoped to build on initial encouraging results from the Inezgane licence near Agadir, Morocco after the company was granted a one-year extension to its permit. The hydrocarbon exploration, development and production company has so far mapped up to 10 billion barrels of unrisked oil resources. Morocco’s National Office […]
Tag: oil and gas
UKOG-Egdon-Angus give up Holmwood oil licence
UK Oil and Gas announced today that it had relinquished its oil licence PEDL143 in Holmwood, Surrey, in which it held a 67.5% stake. The other main partners in the licence who have also given up their interests are Egdon Resources plc (18.4%) and Angus Energy (12.5%). UKOG said that a detailed study had been […]
UKOG plans for Loxley to be redetermined
UK Oil & Gas plc will have its application for a gas appraisal project in Loxley near the village of Dunsfold redetermined in November by Surrey County Council. ACCUMULATION The local authority refused permission at an earlier hearing against its officers’ recommended approval. Technical issues resulted in a rerun and the application will be now […]
Europa losses widen as it offloads licences
Europa Oil & Gas (Holdings) announced a pre-tax loss of £5.4 million compared with £0.7m in 2019 including write-offs taken following the company’s relinquishment of its Irish licences. In its final results for the 12 months ended 31 July 2020, the hydrocarbon company with interests in the UK, Ireland and Morocco also announced pre-tax loss […]
Union Jack increases North Kelsey stake to 50%
Union Jack Oil plc has acquired a further 30% from Egdon Resources plc of the North Kelsey prospect PEDL241 in Lincolnshire. TERMS The onshore hydrocarbon exploration and development company paid a cash consideration of £100,000 and has now aligned its 50% interest with operator Egdon. Previous financial farm-in obligations in respect of the 20% interest […]
Block to start Georgia gas sales before year end
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: […]