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News and updates


 

07 December, 2020

Sterling Energy: Directorate Change

Sterling Energy, an upstream oil and gas company listed on the London Stock Exchange appointed Mr Tony Hawkins as its Chief Executive Officer. Mr Hawkins will be appointed to the Board of Directors with immediate effect and will take up his executive position as Chief Executive Officer on 1 January 2021. 

Mr Hawkins is an experienced oil & gas executive, with over 20 years’ experience as a CEO, senior commercial advisor and legal counsel. He has worked extensively in oil & gas but also across the broader energy sector, including power, infrastructure and renewables. He is an English and Australian qualified lawyer, who has worked in both private practice and in-house roles.

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16 November, 2020

Jupiter Energy: Operations Update

Jupiter Energy's Non-Exective Director Phil Warren has advised of his intention to retire as a Director of the Company, Phil joined the Jupiter Board on 20 April 2018 and has made a significant contribution to the Company since that time. 

Mark Ewing has accepted an invitation to join the Board of Jupiter Energy and will take up his position on 24 November 2020. 

Mark Ewing is an experienced company director and member of the Institute of Company Directors. Mark has had more than 40 years' experience as a Chartered Accountant working with private and public companies in Australia, Asia, UK and the US. 

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Finance and Asset Management selling Asset Management and Direct Investment 

18 September, 2020

Sterling Energy published 6 months operation results for the period ending 30 June 2020.

The main highlights are: 

  • Financial Summary: The Group remains debt-free and fully carried for Odewayne operations. Cash resources as at 30 June 2020 of $43.8 million 
  • Corporate Summary: Continued M&A mandate, screened over 20 separate opportunities globally with 3 of these progressing to the indicative offer
  • Operations Summary: Odewayne block, Somaliland operating updates - the final products of the reprocessing of 1,000km of 2D seismic data to Pre-Stack Time Migration were delivered Q1 2020. Somaliland offers on the last opportunities to target an undrilled onshore Mesozoic rift basin in Africa. 

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Finance and Asset Management selling Asset Management and Direct Investment 

17 September, 2020

Jupiter Energy: Operations Update

The approval process for transitioning the Akkar East oilfield has been finalised to transition from Trial Production to Commercial Production. 

The Company continues to discuss potential infrastructure sharing options in the area and, as already announced, is also undertaking a Strategic Review as to other funding opportunities available to further develop the Akkar East field, as well as the Akkar North and West Zhetybai oilfields. 

It is expected that the Akkar North oilfield will need to transition to Commercial Production during 1st Quarter 2021 and the West Zhetybai oilfield will need to transition in the 4th Quarter of 2021. 

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Finance and Asset Management selling Asset Management and Direct Investment 

July 23, 2020

Jupiter Energy published a few important quarterly updates for the period to 30 June 2020.

The main highlights are:

  • Jupiter’s oil production is limited to 2 wells as of yet. Company is still waiting for regulatory approvals from Akkar East oilfield. Jupiter expects all the necessary approvals to come through in the next few weeks.
  • Oil continues to be sold via a prepayment contract with a local oil trader into the domestic oil market
  • VTB Capital will be engaged to assist with a Strategic Review that the company is currently undergoing. This will include the review of strategic operations and analysis of various options to enable the ongoing development of Block 31

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Finance and Asset Management selling Asset Management and Direct Investment 

July 21, 2020

Jupiter Energy: Operations Update

The board of Jupiter Energy Ltd has decided to undergo a Strategic Review to examine all future development opportunities of its acreage in Kazakhstan.

Jupiter has been active in Kazakhstan since 2008. The company has managed to produce and sell over 1m barrels of oil and has discovered 3 oil fields.

Jupiter is currently waiting to final local governmental regulatory approvals in order to transition its fields into Commercial Production. A move to Commercial Production will require greater investment in infrastructure and will enable the stakeholders to maximise the value of the company’s assets.

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