Shares in IGas Energy PLC (AIM:IGAS, OTC:IGESF) and Egdon Resources PLC (AIM:EDR) rose on Thursday after the government formally lifted the ban on fracking in the UK as part of its push towards greater domestic energy security.
The moratorium on fracking had been in place since 2019, but it has now been lifted as the government seeks to promote gas production in the UK, where the industry is supported by local communities.
Jersey Oil and Gas PLC (AIM:JOG, OTC:JYOGF) chief executive Andrew Benitz highlighted “great progress” as the North Sea junior reported its interim results for the six months ended 30 June 2022.
Interest in the Greater Buchan Area (GBA) field development was further bolstered in recent months amid favourable fiscal and macroeconomic developments, the company highlighted.
i3 Energy PLC (AIM:I3E, TSX:ITE, OTC:ITEEF) said it has spudded the Serenity appraisal well, the first North Sea well under new UK prime minister Liz Truss’s watch and one of only a handful to be drilled since before the coronavirus pandemic.
The UK and Canada-focused oiler owns 75% of the licence that contains Serenity, P.2358, Block 13/23c, with Europa Oil & Gas owning the remaining 25%.
Over 41% of the UK’s electricity capacity is produced by countries in the Eurozone following the nationalisation of Uniper SE by the German government.
In the UK, Uniper owns and operates seven power stations, a fast-cycle gas storage facility and two high pressure gas pipelines, according to its website.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) chief executive Colin Harrington described the first six months of 2022 as “another transformational time” for the company, which has both expanded its production and also advanced it primary project in Utah’s Paradox basin.
The oil and gas company generated some US$25.9mln of revenue from its portfolio of non-operated production wells in the Williston Basin, with earnings (adjusted EBITDA) coming in at around US$19mln and net profit after tax reported at US$17.4mln.
Quadrise Fuels International PLC (AIM:QFI, OTC:QDRSF) said it has signed a development agreement (JDA) with lignin biofuel specialist Vertoro, which supplies sustainable biomass-based biofuels made from agricultural and forestry residues.
Vertoro makes GEM, a crude lignin oil that is a potential alternative to methanol with CSO, an advanced crude sugar oil, a water-soluble by-product of the process.
Royal Helium Ltd (TSX-V:RHC, OTCQB:RHCCF) said it has received a Competent Person's Report (CPR) from Calgary, Alberta-based GLJ Limited dated August 19, 2022, which provides an independent resources assessment and evaluation of its material helium assets to date.
Saskatoon-based Royal controls over 1 million acres of prospective helium land across southern Saskatchewan and southeastern Alberta.
San Leon Energy PLC's (AIM:SLE, AQSE:SLE, OTC:SLGYF) highligted a statement from 11% owned Deklar Petroleum on progress at the Oza Oil Field in Nigeria toward establishing larger and more stable volumes of crude oil transport.
The statement said a 7,800 barrel shipment of crude previously delivered to the Umugini pipeline handling facilities has now been delivered to the Forcados crude oil export terminal and is now ready for export – subject to the repair of an offshore loading system.
Providence Resources PLC (AIM:PVR, OTC:PVDRF) confirmed it will change its name to Barryroe Offshore Energy Plc on Tuesday, September 27.
Providence shares will trade under the ticker ‘BEY’ in London.
i3 Energy PLC said operations for the drilling of the Serenity appraisal well on P.2358, Block 13/23c in the North Sea have now started.
The Stena Don semi-submersible drilling unit is now on contract to i3 and preparing for the spudding of the well, which is expected to occur later this week, said the statement.
Mosman Oil and Gas Ltd (AIM:MSMN) has confirmed that its contractor had experienced a further delay as it works toward the spudding of the Cinnabar-1 well in Tyler County, Texas.
The company, in a statement, said that all site preparation is complete and once the rig arrives onsite drilling will commence.