Sanjeev Gupta to Buy US-based Steel Assets in 2018
British industrialist Sanjeev Gupta is in talks to purchase and build more U.S.-based steel and industrial assets next year, after buying ArcelorMittal's Georgetown Steelworks at the weekend. Gupta, executive chairman of GFG Alliance which is a $10 billion metals, industrials and energy group, has been snapping up distressed industrial assets in Britain, Australia and the United States in the past few years. Last week, GFG Alliance struck a deal with UK-based tidal power firm Atlantis Resources to form a listed company that marked Gupta's first step onto the stock market, with further such steps expected next year.
San Leon Spuds Rawicz-15 Development Well
San Leon Energy, the AIM listed company focused on oil and gas exploration in Europe and North Africa, announces the spud of the Rawicz-15 well. The Rawicz-15 development well on the 742 km2 Rawicz Concession in Poland’s southern Permian Basin, was spud on 18th November 2015 using a rig from Poland’s Exalo Drilling. The well, which is operated and funded by Palomar Natural Resources (“PNR”), is expected to take 35 days to reach a total depth of around 1,600 meters, and will be followed by completion and a full well testing programme.
SulNOx, LR Join Forces to Promote SulNOxEco Fuels
SulNOx Fuel Fusions Plc. (SulNOx), the leading global producer and supplier of fuel emulsion technology, and Lloyd’s Register (LR), a leading technical, business services organisation and maritime classification society, today signed an agreement that will see LR provide verification, testing, technical support and consultancy services throughout the process of SulNOxEco Fuels’ commercial deployment. The agreement will see LR provide a stringent technical assessment of SulNOxEco Fuels, verifying its operational…
San Leon Spuds Morocco Well
San Leon Energy, the AIM listed company focused on oil and gas exploration in Europe and North Africa, announces that the El Aaiun-4 well on the Tarfaya conventional licence, onshore Morocco, was spud today. The well is being drilled with Entrepose Drilling's Cabot 750 rig and is expected to take approximately 30 days to reach total depth (TD) of around 2000 metres below rotary table. The reservoir target is Tertiary channel sandstones, and the surface location is approximately 14 Km from a gas market (El Marsa OCP phosphate processing plant, near Foum el-Oued).
San Leon Energy Operations Update
San Leon Energy plc the AIM listed company focused on oil and gas exploration in Europe and North Africa, provides an operational update across a number of its assets. The second well in the 3-well programme, Gierałtowice on the Bielsko-Biała concession in Karpaty, has now been completed and tested and is being plugged and abandoned. All planned targets were penetrated. Low gas rates were achieved but the thick sandstone primary target reservoir did not have a sufficient seal, and thinner sands associated with the expected coal beds were insufficient on their own to provide commercial rates during testing.
Rawicz-12 Well Spuds
San Leon Energy, the AIM listed company focused on oil and gas exploration in Europe and North Africa, announces the spud of the Rawicz-12 appraisal well yesterday on the 742 km2 Rawicz Concession in Poland’s southern Permian Basin. The well, which is operated by Palomar Natural Resources (“PNR”), is targeting the previously-discovered Rawicz gas accumulation in the Permian Rotliegendes sandstones. The well is estimated to take 45 days to reach a total depth of 1,900 meters and is being drilled by Poland’s Exalo Drilling. A full testing program is planned immediately after drilling and completion of the well, assuming positive results.
Warming Aids Arctic Economies, but Short of 'Cold Rush'
Climate change is aiding shipping, fisheries and tourism in the Arctic but the economic gains fall short of a "cold rush" for an icy region where temperatures are rising twice as fast as the world average. A first cruise ship will travel the icy Northwest Passage north of Canada in 2016, Iceland has unilaterally set itself mackerel quotas as stocks shift north and Greenland is experimenting with crops such as tomatoes. Yet businesses, including oil and gas companies or mining firms looking north, face risks including that permafrost will thaw and ruin ice roads, buildings and pipelines.
