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Rockrose Energy development drilling campaign

first_imgThe drilling of the two infill wells forms part of a wider programme of planned activity, covering seven wells over the course of 2020 Rockrose Energy development drilling campaign. (Credit: skeeze from Pixabay.) Rockrose Energy plc (LSE: RRE) (the “Company”), the independent oil and gas company, is pleased to announce the first of two infill development wells at West Brae (RockRose 40% and operator) has successfully completed and is delivering in line with expectations.Following completion of this well, the Noble Houston Colbert jack-up drilling rig spudded the second planned well at West Brae yesterday evening. Designated WPGZ and WPOZ, the wells are designed to access over 3 MMbbl of net 2P reserves and add net production of 2,500 bopd.The drilling of the two infill wells forms part of a wider programme of planned activity, covering seven wells over the course of 2020. The programme is aimed at enhancing production by over 8,500 boepd (net) this year and next, as the Company seeks to convert 2C resources to 2P reserves and deliver extended field life.At the end of February, Rockrose was debt-free with net cash of £272.1 million (equivalent to £20.75 per share) of which £39.5 million was restricted. Final results for 2019 are expected to be published the week beginning 23rd March 2020.Commenting, Andrew Austin, Rockrose, Executive Chairman, said: “The drilling of the first of two RockRose-operated infill wells at West Brae has been completed as planned. The rig has now moved to the second well, which remains on target to deliver first production in Q2. These wells form part of a wider programme aimed at creating significant value for shareholders, including increased production, the conversion of resources to reserves and extending field life.” Source: Company Press Releaselast_img read more

Atalaya Mining to build 50MW solar plant at Proyecto Riotinto in Spain

first_img Atalaya Mining started the permitting process to develop a 50MW solar plant. (Credit: PublicDomainPictures from Pixabay) Atalaya Mining announce that it has started the permitting process to develop a 50MW solar plant at its Proyecto Riotinto (the “Solar Project”). The full capacity of the Solar Project will be used for self-consumption.Proyecto Riotinto is located in an area with a natural abundance of sunlight which is conducive to solar power generation. Technical studies carried out by a third party during the past months have indicated that, in addition to making a significant contribution to reduce carbon emissions, the Solar Project is economically viable and could potentially contribute to reducing Proyecto Riotinto’s operating costs.The decision to pursue the Solar Project is in line with Atalaya’s ongoing commitment to environmental sustainability and to continue to have a positive impact on the people, environment and society surrounding the mine.During the permitting period, the Company will evaluate the various financing options that are being proposed by industry players in Spain.Subject to completing the permitting process and securing financing, construction is targeted to commence by mid-2021.Alberto Lavandeira, CEO, commented:“We are pleased to be committing to this solar initiative which will be one of the largest projects of renewable self-consumption in the industry. This is only a first step in achieving our long-term sustainability goals, but one that will have a positive and near term impact on Proyecto Riotinto.” Source: Company Press Release Proyecto Riotinto is located in an area with a natural abundance of sunlight which is conducive to solar power generationlast_img read more

Tullow Oil allocates 90% CAPEX on West African production assets

first_imgThe company expects to generate nearly $7bn of operating cashflow over the next decade The offshore production assets of Tullow Oil in West Africa are in Ghana, Gabon, Cote d’ivôre, and Equatorial Guinea. (Credit: D Thory from Pixabay) UK-based Tullow Oil has unveiled a new plan to focus 90% of its future capital expenditure (CAPEX) on its producing assets in West Africa.Currently, the company’s production assets in the region are located offshore Ghana, Gabon, Cote d’ivôre, and Equatorial Guinea.The company said that its new strategy and plan will focus on the considerable potential within its resource base associated with its producing assets where extensive infrastructure is available.Tullow Oil CEO Rahul Dhir said: “Since joining Tullow in July 2020 I have been deeply impressed by the strength of the Group’s assets, especially in Ghana. Following hard work by our team, and with input from our partners and external experts, we have a clear strategy and plan for the next 10 years.“The plan focuses our capital on a deep portfolio of short-cycle, high-return opportunities within our current producing asset base and will ensure that Tullow can meet its financial obligations and deliver material value for our host nations and investors.”Over the next decade, the company expects to generate nearly $7bn of operating cashflow.Tullow Oil also disclosed plans to invest around $2.7bn from 2021 and 2030 and make close to $4bn cash flow available for reducing debt and for shareholder returns.The company further stated that the new plan will yield production growth in the medium term and also enable it to sustain production levels over the longer term.It will begin the first phase of investment in the second quarter of 2021 by launching a multi-well drilling programme in Ghana.Tullow Oil also revealed that the evaluation phase of its Kenyan and South American assets does not require a significant capital investment. Instead, the company will look to use an innovative approach and its expertise in geoscience and engineering to unlock their value.In Kenya, the company has been engaged in re-evaluating Project Oil Kenya for designing an economic project at low oil prices while retaining the phased development concept.In South America, Tullow Oil will focus on getting a better understanding of the prospectivity of the basins in Suriname, Guyana, and Argentina where its assets are located.Recently, the company sold its assets in Uganda, including its stake of 33.3% in the Uganda Lake Albert project, to Total, for $575m.Tullow Oil said that it will continue to assess sale of additional assets if they are value accretive and can make its balance sheet stronger.However, the company said that currently there isn’t much urgency to sell additional assets because of the material cost savings it has realised and the cash flow generation from the newly unveiled plan.last_img read more

80% of smaller builders have disappeared since 1998, research shows.

first_imgThe number of estate agents doing business in the UK has had its ups and downs over the years, but its cyclical woes are nothing compared to those of smaller builders, it has been revealed.Eighty percent of all smaller builders have gone out of business over the past 30 years, the research by online property marketplace LendInvest shows.It say there were 12,200 smaller house builders in 1998, a figure which had fallen to 5,700 by 2006 and to 2,400 by 2014.The company says that by increasing the number of smaller builders in the UK back up to 5,000, some 25,000 extra homes could be built every year.This follows a recent House of Lords enquiry that discovered eight of the largest builders in the UK construct 50% of all homes built each year.“Decades of successive governments’ under-investment and muted decisions, coupled with a planning system that defaults to favouring larger sites over small ones has cumulatively left UK housing in a dire situation,” says Christian Faes, CEO of LendInvest (pictured, left).London’s smaller buildersIn London, agent Kinleigh Folkard & Hayward reckons that while 66% of all new home developments in the current pipeline are being built by small and medium size builders, because they tend to be small sites of between 20 and 150 homes, these developers only build one in five new homes in London.“The Government’s Housing White Paper makes clear that small and medium sized developments are vital for London to meet its housing need,” says John East, Director of Land and New Homes at KFH (pictured, right).“Our analysis proves that more has to be done to support developers at the smaller end of the scale. Making more land available for these developments and accelerating the construction of sites that already have planning permission is a start, but securing consent will remain a challenge where there are local sensitivities.”Kinleigh Folkard & Hayward KFH LendInvest smaller builders March 7, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Land & New Homes » 80% of smaller builders have disappeared since 1998, research shows. previous nextLand & New Homes80% of smaller builders have disappeared since 1998, research shows.Shocking contraction of industry is partly why the UK struggles to build enough homes, says LendInvest.Nigel Lewis7th March 20170786 Viewslast_img read more

Profile: The Baroness who championed compulsory Client Money Protection

first_imgHome » News » Profile: The Baroness who championed compulsory Client Money Protection previous nextProfile: The Baroness who championed compulsory Client Money ProtectionFour years after the campaign to make CMP mandatory for agents came to fruition, we profile the Lords’ peer who helped make it happen.Nigel Lewis6th November 20170965 Views The news that the government is to introduce compulsory Client Money Protection (CMP) for agents made the national newspaper headlines recently. But the strenuous attempts to have it introduced have been in full swing now for over three years.And it’s 68-year-old Diane Hayter (pictured, right), or to use her Lords title Baroness Hayter of Kentish Town, who has been instrumental in persuading the current government to bring in CMP. So how did it all happen?After a distinguished career in the Labour Party, her unexpected involvement began when she chaired the now-defunct Property Standards Board, which was set up in 2009 by the Royal Institution of Chartered Surveyors with several other industry organisations including the NAEA and ARLA.It tried to bring in initiatives including proper regulation of agents but was disbanded a year later when it was clear the government was reluctant to get involved in regulating the industry. How times have changed.David Cox (pictured, left), Chief Executive of the Association of Residential Letting Agents, says he first came across Baroness Hayter at a lobbying meeting during the 2014 Labour Party conference in Manchester.“We were sat around on plastic chairs and I began my spiel on why the industry needed CMP, and she stopped me within a few seconds and said I needn’t worry – she was on board – which was pretty amazing,” he says.After that meeting, Baroness Hayter then launched her first attempt to bring in compulsory Client Money Protection via the Human Rights Act in the Lords, but this was then rejected by MPs in the House of Commons.A second attempt, this time through the Housing & Planning Act, also nearly succeeded after gaining support from Labour and the Lib Dems in the Lords, but was subsequently thrown out.“Baroness Hayter was able to put together a mini-coalition to support the introduction of the amendments which was invaluable for us – as outsiders it’s just not possible to have that influence,” says David Cox.“She recognised that CMP was a huge consumer step forward and she tried pushing it through any way she could, until the government listened.”And her work finally shone through just after the then housing minister Gavin Barwell spoke at last year’s ARLA conference in London.“At the conference the minister said they weren’t going to mandate CMP and then eight working days afterwards, he did an entire U-turn and announced that it would be introduced,” says David Cox.“He would have received a standing ovation is he’s done it eight days earlier.” Baroness Hayter would no doubt agree. baroness hayter client money protection CMP November 6, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more

Get ready for an evictions ‘avalanche’ after May 31st, warns expert

first_imgHome » News » Get ready for an evictions ‘avalanche’ after May 31st, warns expert previous nextRegulation & LawGet ready for an evictions ‘avalanche’ after May 31st, warns expertPaul Shamplina of Landlord Action says courts will struggle to clear backlog of 20,000 old cases and new ones when ban ends.Nigel Lewis31st March 20210678 Views Leading evictions expert Paul Shamplina has warned letting agents and landlords to expect a ‘concerning’ and potentially chaotic situation once the ban on bailiff evictions is lifted on May 31st.The Landlord Action founder says the County Court system will be unable to cope with the avalanche of 20,000 evictions cases that are either waiting to be given the green light or for warrants to be executed.On May 31st the courts will face the daunting task of processing and enforcing the backlog, in addition to fresh cases that will be coming to court.Each year in England and Wales some 28,000 evictions are processed but last year just 500 went through the courts after the March lockdown.Shamplina (pictured) says all these unprocessed evictions will not go away and that: “Unfortunately, we now have a situation where cases are backed up, new cases are arising all the time and the scale of the issue is impossible to predict because so many are still being cushioned by support such as furlough, business grants and/or mortgage holidays.“When this package of measures comes to an end, and without government support to help tenants pay back accumulated arrears, I fear we could be heading for an eviction avalanche.”Also, the government’s six-months arrears requirement won’t help – Landlord Action says 60% of its cases are those where tenants are more than half a year behind in rent.Before Covid, the company says, such cases were rare.The courts will also have to deal with a deluge of landlords who have court orders outstanding from a year ago and warrants due to expire, and who must now re-apply to refresh their claims.“We don’t yet know if these landlords will be at the front or the back of the queue” says Shamplina.bailiff evictions Paul Shamplina of Landlord Action March 31, 2021Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

OEA/Zara Buren Memorial Award Recipient Announced

first_imgThe Ontario Eventing Association, in partnership with the Zara Buren Memorial Foundation, is pleased to announce the recipient of the inaugural Zara Buren Memorial Award. Avery Brennan, an eventer from the Ottawa area, will receive a $6,000 dollar grant as well as a cooler and bonnet in burgundy, Zara’s show colours.A total of 18 applicants applied for this award. The selection committee was comprised of members of the Ontario Eventing Association Board of Directors as well as Zara’s family.Said Olympian, Pan Am and WEG medalist Selena O’Hanlon, who coaches Avery, “I am thrilled for Avery and for the eventing community with this choice. Avery shows excellent sportsmanship in every aspect of this sport. He’s a very kind and thoughtful person, a dedicated horseman and animal lover, all super attributes in such a talented young rider.“Knowing Zara, I think she would be proud of Avery. Thank you so much to everyone involved. Her memory will live on and we will strive to be ‘more like Zara’ in every aspect of life.”This year, in addition to the primary award and in response to the number of strong candidates, the Zara Buren Memorial Foundation will also support four additional athletes with Grants of Distinction and $1,000:Matthew HeinzleOlivia MacLeodAva Lema NilssonAlexandra WickettAbout ZaraFourteen-year-old Zara tragically lost her life on September 21st of last year while saving her beloved horse, Monkey, who had become trapped in a marshy bog. Zara is remembered for her kindness, drive for excellence, passionate love of animals and dedication to her horse and the sport of Eventing.The Zara Buren Memorial Foundation was established with the focus on helping youth with the desire, talent, and work ethic to pursue their passion. The Memorial Foundation will support the Zara Buren Memorial Award to be given annually through the Ontario Eventing Association to a junior rider who exhibits a passion for Eventing, sportsmanship and a commitment to their horse. Zara was a talented rider with an intense dedication to training and learning, always putting her horse first.Said Zara’s parents, Sabrina Haque and Robert Buren, “Sabrina and I were impressed by the number and strength of applications received for the first Zara Buren Memorial Award. The kindness, dedication, discipline, and work ethic exhibited by all of the young riders reminds us of our dear Zara and gives us confidence that the sport of Eventing in Ontario has a strong future.“Thank you to the Ontario Eventing Association for creating the Zara Buren Memorial Award and for leading the process, and to all the applicants and their coaches, parents, and references. We hope that the traits that this award recognizes will continue to grow amongst all riders, and the memories of Zara will carry on for everyone who was lucky enough to know her, and those who continue to #rideforzara.”– with files from Ontario Eventing Association Tags: eventing, Ontario Eventing Association, Zara Buren Memorial Award, Matthew Heinzle, Olivia MacLeod, Ava Lema Nilsson, Alexandra Wickett, Avery Brennan, Subscribe to the Horse Sport newsletter and get an exclusive bonus digital edition! Email* More from News:MARS Bromont CCI Announces Requirements For US-Based RidersThe first set of requirements to allow American athletes and support teams to enter Canada for the June 2-6 competition have been released.Canadian Eventer Jessica Phoenix Reaches the 100 CCI4*-S MarkPhoenix achieved the milestone while riding Pavarotti at the inaugural 2021 CCI4*-S at the Land Rover Kentucky Three-Day Event.Tribunal Satisfied That Kocher Made Prolonged Use of Electric SpursAs well as horse abuse, the US rider is found to have brought the sport into disrepute and committed criminal acts under Swiss law.Washington International Horse Show Returns to TryonTIEC will again provide the venue for the WIHS Oct. 26-31 with a full schedule of hunter, jumper and equitation classes. Horse Sport Enews SIGN UP We’ll send you our regular newsletter and include you in our monthly giveaways. PLUS, you’ll receive our exclusive Rider Fitness digital edition with 15 exercises for more effective riding.last_img read more

USS Frank Cable Recognizes Sailors of Year

first_img USS Frank Cable Recognizes Sailors of Year Back to overview,Home naval-today USS Frank Cable Recognizes Sailors of Year View post tag: Recognizes Authorities View post tag: News by topic View post tag: Cable View post tag: Year View post tag: Naval View post tag: Frank Sailors assigned to the submarine tender USS Frank Cable (AS 40), gathered together to recognize six of their peers as Sailors of the Year, Junior Sailors of the Year and Blue Jackets of the Year, Dec. 5.Hull Maintenance Technician 1st Class Cory Ervin, Hospital Corpsman 1st Class Neville Willoughby, Hospital Corpsman 3rd Class Fredrick Reischour, Hull Maintenance Technician 3rd Class Jessica Scholl, Machinist’s Mate Fireman Diane Saidat and Information Systems Technician Seaman Mason Wicks were given praise during an all hands muster on the pier by Frank Cable’s commanding officer, Capt. Pete Hildreth, for all their accomplishments throughout the year.“The Sailor of the Year program recognizes dedicated Sailors who best exemplify the Navy’s core values and made significant contributions to the accomplishment of Frank Cable’s mission,” said Hildreth. “They epitomize the hard work that hundreds of Sailors accomplish on Frank Cable every day.”According to Willoughby and Scholl, it was a great honor to be chosen for their hard work and dedication to the Navy, Frank Cable and their fellow shipmates.“I feel honored and blessed,” said Scholl. “I feel that if I can be recognized for the things I do on a day to day basis, and that makes me a Sailor of the Year, then I have done something right.”Both Willoughby and Scholl said they strive to make themselves someone others can emulate. Both Sailors spend a great deal of their time doing volunteer work and dedicate themselves to those around them. “It feels very rewarding to know that all of your hard work is being recognized,” said Willoughby. “I always ensure that I’m performing at the highest level in every aspect of my career, i.e. Sailor development, education, command/community involvement, physical fitness and performance.”Immediately following the Sailor of the Year ceremony, Frank Cable held a frocking ceremony for all the newly selected 1st, 2nd and 3rd class petty officers. Among those that made rank were Scholl and Saidat, who are now both eligible to wear the rank of petty officer 2nd class and petty officer 3rd class, respectively.“Never give up on yourself, even if things get hard once in a while,” said Scholl. “Never let yourself think you cannot do something, because anything is possible when you put your mind to it.”Frank Cable conducts maintenance and support of submarines and surface vessels deployed in the U.S. 7th Fleet area of responsibility.[mappress]Naval Today Staff, December 07, 2011; Image: navy View post tag: USS View post tag: sailors View post tag: Navy December 7, 2011 Share this articlelast_img read more

VCNO Concludes Australia Trip

first_imgBack to overview,Home naval-today VCNO Concludes Australia Trip February 21, 2012 View post tag: VCNO The vice chief of naval operations (VCNO) concluded a three-day engagement visit to Canberra and Darwin, Australia, Feb. 21.Adm. Mark Ferguson met with Chief of the Australian Navy Vice Adm. Ray Griggs and U.S. Ambassador Hon. Jeffrey L. Bleich, toured naval facilities, and delivered remarks to students, faculty and staff at the Australian Defence College (ADC).“This was a productive and enjoyable visit,” said Ferguson. “I came here on behalf of the Secretary of the Navy and Chief of Naval Operations to discuss our enduring presence and engagement in the Pacific.”Meetings with VCNO and the Australian navy staff focused on the recent U.S. force posture review, the status of the two respective navies, and plans for continued military to military exercises and engagement.“Our long-term economic and security interests are linked to developments in the Asia-Pacific; we place a high premium on our presence and support to allies and partners in the region,” said Ferguson. “This visit further solidified the strong relationship we enjoy with the Australian Navy.”In remarks to the ADC in Canberra, Ferguson talked about the U.S. Navy’s longstanding presence in the Pacific, the free flow of commerce, maritime security, and the U.S. defense strategy.The ADC was established in 1999 to meet the strategic needs of the Australian Defence Force for joint professional military education and to prepare Australian and foreign military and government officials for joint and combined assignments. More than 160 military and civilian students, faculty and staff from 20 different countries turned out for Ferguson’s presentation. “The U.S. is a Pacific maritime nation, and our strategy underscores our commitment to our allies and partners in this region,” said Ferguson. “Our interests demand enduring presence; we are here to stay.”In Darwin, Ferguson visited HMAS Coonawarra to meet with the Australian navy staff before touring the harbor to get a first-hand view of available support facilities for the planned rotational deployment of U.S. Marines to the region.Ferguson is traveling throughout the U.S. Pacific fleet to meet with regional partners and U.S. personnel to discuss U.S. Navy Pacific engagement. He will visit Singapore and Guam next.[mappress]Naval Today Staff , February 21, 2012 View post tag: Australia Training & Education View post tag: Trip View post tag: Naval View post tag: Navy View post tag: News by topic View post tag: Concludes VCNO Concludes Australia Trip Share this articlelast_img read more

Commander of Sri Lanka Navy Visits Pakistan

first_img View post tag: Naval View post tag: News by topic View post tag: Sri View post tag: visits Commander of Sri Lanka Navy Visits Pakistan View post tag: Commander View post tag: Lanka Back to overview,Home naval-today Commander of Sri Lanka Navy Visits Pakistan center_img At an invitation extended by Chief of Naval Staff of Pakistan, Admiral Mohammad Asif Sandila, Commander of the Sri Lanka Navy, Vice Admiral Jayanath Colombage visited Pakistan from 06th to 11th November 2012.During the visit, the Commander of the Navy was able to hold wide ranging discussions on matters of mutual interests and bilateral importance with the Pakistan CNS and officials. He called on COM PAK, Vice Admiral Muhammad Zakaullah at PNTS, Commander Destroyer Squadron and Commander Karachchi, Rear Admiral Khawaja Ghazanfar Hussain at PNA Bahadur.The Commander of the Navy and President of the Sri Lanka Navy Seva Vanitha Unit, Mrs. Srima Colombage also attended a dinner hosted by Governor of Sindh at Governor’s House.The visit has strengthened the relations between Sri Lanka and Pakistan which maintain close, cordial and mutually supportive relations in a number of fields. Pakistan Navy offers advanced and specialized training to SLN personnel and both forces have friendly relations which reflect their camaraderie and professional commitments.[mappress]Naval Today Staff,November 14, 2012; Image: Sri Lanka Navy View post tag: Pakistan November 14, 2012 View post tag: Navy Share this article Authoritieslast_img read more