Oriole Resources plc said it had received US$220,000, with a further $80,000 later this quarter, from its interests in the Turkish gold mining projects of Hasançelebi and Doğala. PARTNER The company will use the total sum for exploration in Cameroon. The original 2019 deal saw the company’s local subsidiary sign a $1.38 million exploration agreement […]
Tag: Turkey
UKOG finds no commercial oil in Pinarova-1
UK Oil & Gas plc (UKOG) and its joint venture partner have found no commercial rates of hydrocarbons and have stopped testing at the Pinarova-1 well in Turkey. SEEPAGE UKOG said that drilling and testing results indicated Pinarova had likely penetrated the “southernmost feather edge of a small oil accumulation” within the Germik/Hoya sequence, stretching […]
UKOG raises £750,000 via 3.7bn share placing
UK Oil & Gas plc (UKOG) raised gross £750,000 via a placing of 3,750,000,000 new ordinary shares at a price of 0.02 pence per share. The placing price represents a 20% discount to the closing price of 0.0250 pence per ordinary share on 11 January 2024, and 13% of the enlarged issued share capital. CMC Markets […]
UKOG finds more powerful perforating gun for Pinarova-1
UK Oil & Gas plc (UKOG) has found a more powerful perforating gun to test the Pinorova-1 shallow oil exploration well, 6km north of the Basur- oil discovery in Turkey. UNDERLYING FORMATION Pinarova-1 is testing whether the active 42˚ API light oil seep, found during 2022 in a seismic shot hole above the Pinarova structure, is connected […]
UKOG suspends testing at Pinarova-1
UK Oil & Gas plc (UKOG) suspended testing to await more powerful 7-inch perforating guns to penetrate the 9⅝-inch casing and cement of the Pinarova-1 exploration well in Turkey. EQUIPMENT The decision follows analysis of downhole pressure gauge data from testing which indicated that the 4.5-inch perforating guns used were unable to establish direct contact […]
UKOG prepares to run electric logs in Pinarova-1
UK Oil & Gas plc (UKOG) plans to run electric logs to identify oil pay after an initial 107 metre open hole swab test proved inconclusive in the Pinarova-1 exploration well in Turkey. PRIMARY TARGET The company is testing the site to learn whether the well is fed by and connected to a 9km2 light […]