The largest investor in the Wressle oil field, Union Jack Oil, is seeking to enhance its image and attract a wider group of investors by reducing the number of shares in the company.
Angus Energy reports it has raised £1.5m in a placing of 150 million ordinary shares.
One of the targets of the West Newton-B exploration site in East Yorkshire contained “insufficient reservoir development”, partners in the project announced this morning.
Angus Energy is looking to borrow up to £12m to redevelop the Saltfleetby gas field in Lincolnshire.
Union Jack Oil has raised £7m for work at oil sites in the East Midlands and future acquisitions.
Redundant oil and gas wells could be used for geothermal energy, the would-be fracking company, IGas, said in an announcement this morning.
The company behind oil drilling at Horse Hill in Surrey said this morning it had taken a licence stake in south east Turkey in the hope of “rapid monetisation” of reserves.
The company behind oil production at Horse Hill in Surrey has raised £1.275m in a share placing to pay for cost cuts.
The number of shares in the onshore operator, UK Oil & Gas plc, has risen to 7.8 billion, up by more than a quarter since August 2019.
UK Oil & Gas, the company behind the Horse Hill oil site in Surrey, has issued a total of 348 million shares in the past week.