|
|
|
|
|
|
|
|
|
-
-
- Get the latest oil & gas news
-
-
-
- Offshore Directory will be launched in October!
-
- Weekly news summary - over 30,000 subscribers
-
-
|
New drilling for Uganda
 London-listed Tower Resources has raised new cash to finance the drilling of a new well in Uganda which will test for an estimated 80 million barrels of oil.
Tower said today that its Mvule 1 well is due to be spudded imminently in Exploration Area 5 in Uganda, where Tower holds 100% equity and where the company is planning to test estimated recoverable resources of up to 80 m bbls. Mvule 1 is the third and final commitment well due to be drilled by Tower on the EA5 licence.
Tower has raised £5.41 million through a placing of 180,333,334 new ordinary shares of 0.1p each while a further £600,000 is being raised through a Standby Equity Distribution Agreement (SEDA) involving the issue of 15,789,472 new ordinary to an investment fund managed by Yorkville Advisors LLC.
Advertisement
 Total has declared the well kill operation on the North Sea Elgin field has been a complete success. [Les mer ] • Company news
 Dubai-based petroleum services specialist NPS Energy is being bought out by Norway's Aker Solutions for US $350 million. [Les mer ] • Company news
 Ocean Rig's Poseidon drillship is set to drill for Chariot Oil and Gas on the Nimrod prospect offshore Namibia. [Les mer ] • Rig news
 Norway's Brynhild development is to feature subsea meters as part of the subsea production system. [Les mer ] • Contracts
 Operator EnQuest has indicated that it expects Field Development Plan approval for its North Sea Galia development soon. [Les mer ] • Field development
 Scotland First Minister Alex Salmond has cracked open a £10 million funding package to support decommissioning activity in the Shetland Islands. [Les mer ] • Company news
|
|
|
|
|
|
|