Anglesey Mining plc swung to a profit of £3.7 million for the last financial year, compared with a £0.3m loss the previous year, due to its 12% holdings in Labrador Iron Mines in Canada. FINANCES In its full year results ended 31 March 2021, the company reported no revenues from its own base and precious […]
Tag: UK extractive industries
Cairn Energy nears end of tax dispute with India
Cairn Energy plc announced that it had nearly resolved the outstanding tax issues with India and soon expected to complete its acquisition in Egypt. INDIA Cairn said that a near-term India resolution would see up to $700m (£500m) returned to shareholders via special dividend and buyback, subject to approval. The remainder will be retained to […]
IGas plans to produce hydrogen from methane in Surrey
IGas plc said it had submitted two planning applications to Surrey County Council to produce hydrogen from methane at its Albury and Bletchingley projects. OUTLINE Surrey County Council’s website to date shows only the proposals for the company’s plans for Albury. IGas aims to produce 1,000 kg hydrogen per day from the site which lies […]
Serica starts Rhum 3 gas production 16 years after first drill
Serica Energy plc announced the start of production from the Rhum R3 gas well some 16 years after it was originally drilled in the North Sea. OPTIMISATION The independent upstream oil and gas company has more than 80% natural gas production and holds a 50% working interest in the Rhum field. First production was achieved […]
West Newton JV notes formation damage but remains resolute
Reabold Resources plc said that reservoir damage to the Kirkham Abbey formation was preventing further significant oil flows at West Newton in East Yorkshire. SIGNIFICANT The upstream oil and gas investor added that the West Newton B-1Z (WNB-1Z) well had been suspended with gauges measuring pressure build-up. Testing of the WNB-1Z well to date has […]
JOG draws interest in regional electrification at GBA
Jersey Oil & Gas plc (JOG) said it had received significant interest in a collaboration for an area-wide electrification project involving the Greater Buchan Area (GBA) development in the North Sea. DISCUSSIONS The company believes that regional electrification could benefit the GBA and neighbouring facilities through possible reductions in both capex and opex. If successful, GBA […]