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Antrim bags option on FPSO for Fyne Field

Tue, 13th Nov 2012 08:52

Oil firm Antrim Energy has bagged itself an option to lease a floating production, storage and offloading (FPSO) vessel for the development of its wholly-owned Fyne Field in the North Sea.Antrim will need the FPSO should the UK Department of Energy and Climate Change give the green light to the Field Development Plan which Antrim expects to submit in January of next year. First oil from Fyne Field is anticipated in the fourth quarter of 2014, contingent on the timing of the redeployment of the FPSO from its current location."This agreement for the Hummingbird Spirit FPSO is a major achievement. Development of the Fyne area in the UK Central North Sea has been hindered for some time due to the lack of commercial infrastructure and export route. The Hummingbird Spirit resolves that issue, not only for the Fyne Field, but potentially for other Antrim assets in the area and nearby stranded assets of other operators. Antrim looks forward to successfully leading the development of the area," said Stephen Greer, Antrim's President and Chief Executive Officer. JH
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23 Dec 2011 07:15

Antrim gives Premier a North Sea Christmas present

Antrim Energy, the Canadian oil company, says it has drilled a successful sidetrack well to assess the Erne discovery in the UK section of the North Sea. The sidetrack encountered around 24 feet of net oil and 14 feet of net gas in a high quality sandstone reservoir, Antrim revealed. Antrim did no

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1 Dec 2011 09:16

Antrim makes discovery in North Sea

Antrim Energy, the Calgary based oil exploration company, has announced a discovery at its Erne exploration well in the North Sea. Antrim, which has a 50% interest in the well, with Premier Oil holding the other 50%, says a hydrocarbon column in excess of 50 feet was encountered during drilling. T

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30 Aug 2011 12:31

Antrim boosts gas production in southern Argentina

Oil and gas exploration company Antrim Energy has succesfully completed fracture stimulation, a process which creates fractures in the rock formations to help recover the natural gas, at two of its wells in Tierra Del Fuego, southern Argentina. Both wells, which had already been drilled, were re-e

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4 Apr 2011 16:43

London close: Shares edge higher on quiet day

Having hovered around its starting point for much of the day, the top share index finished just a few points higher. Vodafone's sale of what it considers non-core minority stakes continues with the sale of its 44% holding in French mobile phone group SFR to French media group Vivendi for €7.75bn (£

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4 Apr 2011 12:25

London midday: Shares seeking direction

Shares are still seeking direction after a slight recovery following a lower start in the morning. It has been a morning for asset sales with both telecoms giant Vodafone and oil colossus BP pressing on with their respective asset sale programmes. Vodafone's sale of what it considers non-core min

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4 Apr 2011 09:27

Premier Oil takes up North Sea option

FTSE 250 oil and gas company Premier Oil has exercised its option to drill the East Fyne appraisal well in the UK Central North Sea. Premier has a joint venture and earn-in agreement relating to the area of the North Sea containing the East Fyne well with oil and gas firm Antrim Energy. Under the

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30 Mar 2011 15:51

Antrim awash with cash

Oil and gas firm Antrim Energysaw revenue ease back in 2010 despite surging oil prices, but losses narrowed sharply. Revenue in 2010 fell to $12.54m from $12.95m the year before. Net loss narrowed to $7.96m from $12.56m in 2009. The company ended 2010 with no debt and cash reserves of $25.7m. Cash

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11 Nov 2010 13:29

Small caps round-up: Hill & Smith, Orsu Metals, Antrim Energy

Infrastructure and building products supplier Hill & Smith has slumped after a challenging second half in the UK caused by uncertainty created around the Comprehensive Spending Review (CSR). Chiefs now expect underlying profit before tax for the year to 31 December 2010 to be marginally below the

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7 Oct 2010 13:11

Small caps round-up: African Aura, Weather Lottery, Antrim...

A 'highly encouraging' result from tests at its Putu iron ore project in Liberia has given shares in African Aura Mining a lift. 'We are incredibly pleased with the metallurgical test results from the Putu project which indicate substantially improved recoveries and higher concentrates to what had

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14 Apr 2010 16:58

Greggs directors swap half of their bonuses for shares

The chief executive and retail director of bakery and sandwich chain Greggs have foregone half of their bonuses in return for shares that will be held in trust for three years. Chief executive Kennedy McMeikan has invested £33,696 in 6,821 shares at 494p each. This takes McMeikan's shareholding in

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29 Mar 2010 13:47

Reserves rise at Antrim Energy

Oil and gas firm Antrim Energy finished 2009 with a healthy cash position and an improved reserves position. The debt free company had cash of $31.2m at the end of 2009, and saw its proved plus probable reserves improve by around 3% to 37.2m barrels from the end 2008 level. The proved plus probabl

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16 Nov 2009 10:26

Small caps round-up: Solo Oil, British Polythene, Antrim Energy...

Solo Oil lost almost a quarter of its value after it announced plans to raise £6.4m and said it has signed a farm-out agreement with Aminex to earn a 12.5% interest in the Likonde-1 well in Tanzania. The group has placed a total of 1,280,000,000 new ordinary shares at a placing price of 0.5 pence e

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