Union Jack Oil plc expects to restart production during late 2024 at the Keddington oil field in the East Lindsey district of Lincolnshire. GROWTH The company, which owns 55% while Egdon Resources (UK) Ltd holds 45%, said that ongoing site improvements were “progressing well”. Elsewhere in the UK, cumulated net revenues profits from the onshore […]
Tag: oil and gas
Europa revenues fall on lower production-prices
Europa Oil & Gas (Holdings) plc revenue fell by nearly half on lower oil production and prices following a busy and “at times challenging” year. POTENTIAL The company’s interests are onshore UK – notably the Wressle joint venture – Equatorial Guinea and Ireland. Results for 12 months ended 31 July 2024 show revenue fell 46% […]
Deeper drilling in Viura-1B ‘exceeds expectations’
Prospex Energy plc said that the Viura-1B development well had exceeded expectations with good gas shows and several potential reservoirs at the onshore field in northern Spain. INSPIRATIONAL Drilling began in June, reaching the new target total depth of 4,500 metres, approximately 4,100m true vertical depth, on 21 October. The well had encountered the main […]
Reabold increases share in Colle Santo
Reabold Resources plc has increased its interest to 29.2% in the Colle Santo gas field option holder. RESOURCE The company converted £510,236.28 of convertible loan notes plus accrued interest, into 36 ordinary shares of LNEnergy Ltd at £14,173.23 per share. The loan note is dated 26 March 2024. LNEnergy manages and owns 20% in Italian […]
Sunda puts back Chuditch-2 spud date
Sunda Energy plc expects the spud date to defer to the second quarter of 2025 for the Chuditch-2 appraisal well offshore Timor Leste. RIG The company, which had targeted early 2025 subject to financing, continues to advance funding for the TL-SO-19-16 production sharing contract with Pacific LNG. Preparations for drilling continue with negotiations for its […]
Deltic cuts costs and looks to invest overseas
Deltic Energy plc plans to cut costs and look for international projects, with an initial focus on early cash flows and faster cycle times, while continuing with its existing UK core assets. SELENE The company said that the “political and fiscal headwinds” had “hampered” the UK’s oil and gas industry in recent years” rendering it […]