Tlou Energy surges as UK power group joins Botswana venture
Some of the largest rises and falls in London at 3pm: Tlou Energy, Regency Mines, Starcom
Company
LON:UJO
Union Jack Oil PLC is an oil and gas company with a focus on onshore production, development, exploration and investment opportunities within the United Kingdom and the United States of America hydrocarbon sector.
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Some of the largest rises and falls in London at 3pm: Tlou Energy, Regency Mines, Starcom
“We are greatly encouraged by the tremendous level of support we have received," said David Bramhill, Union Jack executive chairman.
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At 3.33pm, the index of blue-chip shares was up just over 14 points at 7,257
The deal to sell 10% of Wressle to Upland Resources was agreed in November, and it has now been extended until the end of September 2017.
Risers and fallers at 4pm including DCC, Techfinancials, Premier African
“Wressle is located in the heart of the East Midlands petroleum province and at an anticipated gross rate of 500 bopd would almost double our existing production based on a 20% interest,” said Hugh Mackay, Europa chief executive.
“As the operator of the nearby Brockham oil field, Angus can provide invaluable technical insights in tandem with our other partners including UKOG, a major stakeholder in the Horse Hill discovery."
The rejection goes against the recommendation of the council's own planning officer, and City broker SP Angel suggests that councillors have overstepped their remit.
“We will now take time to consider our options including our right to bring forward an appeal."
In the first-half of next year UKOG will move 11 miles along the road from Horse Hill to the PEDL234 licence area
UKOG probably won’t be the first cab off the block as a number of rivals are planning similar exploration programmes.
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Subsequently Europa Oil & Gas retains 30% of Wressle, and UJO’s interest in the project rises to 11.67%.
As part of a farm-out agreement announced in July 2015, Egdon Resources will transfer a 10% interest in PEDL339 for no upfront cost
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