Predator Oil & Gas Holdings plc has extended its rig contract for drilling the MOU-5 well to evaluate the 177km² Jurassic structural closure at Guercif onshore Morocco. COSTS The Jurassic structural closure in a crestal location was penetrated in MOU-4 in 2023. Drilling will target a “potentially thick development of porous and permeable, early Jurassic […]
Tag: extractive industries
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 […]
Parkmead increases Dutch gas production and reserves
The Parkmead Group reported consistent average production rates from the LDS-01 discovery well on the Drenthe VI joint venture licence since coming on stream. OPTIMISATION The licence, in the Diever West field containing the Lheebroek prospect, is in the north of the Netherlands. The company said that LDS-01 had average rates close to 5,000 boepd […]
FCM director Ayub Bodi leaves
First Class Metals plc announced that Ayub Bodi has ceased to be a director of the company with immediate effect. Companies House records his initial executive appointment was in January 2021.
Arkle drill results expand strike length at Inishowen
Arkle Resources plc said results from drilling in December at the Inishowen prospect had expanded the strike length of the known gold bearing structure. FLUCTUATIONS The company drilled four holes for a total 220.4m, of which the first two targeted the main vein at Meeneragh. Recorded gold grades, found within quartz veins and fault gouge […]
Power Metal raises £1.3m from high net worth investors
Power Metal Resources plc has raised £1.3 million by issuing 130m ordinary shares each of 0.1 pence to UK-based high net worth investors and its first strategic Saudi Arabian investor. The ordinary shares had an issue price of 1.0 pence per ordinary share, representing a premium of approximately 3.09% to the closing mid-market price of 0.97 pence per ordinary share […]