Oil & Gas Corporate News
The Press reports this morning that Nuri al-Maliki has been given 30 days to form a new government following his reappointment as Iraq's prime minister under what's being described as a power-sharing deal between Shi Ite Group (LON:ITE) and Sunni-backed blocs. The moves to establish a new government come after the inconclusive Iraqi elections last March led to eight months of political deadlock. The November 11 parliament session in Baghdad saw Kurdish leader Jalal Talabani reelected as Iraqi president, and Talabani asking Maliki, a Shi'ite, to form a government for his second term as prime minister. The session also included the selection of Osama al-Nujaifi, a minority Sunni from the Sunni-backed Al-Iraqiyah block, as parliament speaker.
Providence Resources (LON:PVR) plc (PVR, 250p, ? 2.9%) has signed a 10 month option agreement with Star Energy Group in relation to its 100% owned and operated Standard Exploration Licence (SEL) 1/07 ('Dragon Licence') in the St George's Channel Basin, offshore south-east Ireland. The Dragon licence is situated in c. 90m water depth and is located c. 40km offshore, south east Ireland. The licence contains the mapped extension of the UK Dragon gas discovery into Irish waters, as well as the deeper Orpheus and Pegasus exploration prospects. The option agreement provides for Star to acquire a non-operated 50% interest in the Dragon Licence in return for carrying out a number of subsurface studies on the Dragon gas discovery. Should Star subsequently exercise this option, Star will participate in the drilling of the planned appraisal/development well on the Dragon discovery. This transaction is subject to Irish governmental approval.
Salamander Energy Plc (LON:SMDR) (SMDR, 229p, ? 0.0%) has signed a Sale & Purchase Agreement to acquire the entire share capital of Elnusa Bangkanai Energy Ltd. ("EBE") from PT Elnusa Tbk. EBE holds a 69% interest and operatorship of the Bangkanai PSC, located in the Barito Basin, onshore East Kalimantan, Indonesia. The Bangkanai PSC contains the Kerendan gas field. With strong demand for gas in Indonesia and the wider SE Asian region, Salamander has been targetting access to gas resources with both commercial and technical upside. This acquisition broadens Salamander's portfolio through the addition of an operated development project that fits the Company's portfolio…
