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Lekoil to acquire 45% stake in Nigerian onshore licence from Newcross

first_img Image: Lekoil to take stake in OPL276 PSC in the eastern Niger Delta basin. Photo: courtesy of John R Perry/Pixabay. Lekoil, an Africa-focused oil and gas company, has agreed to acquire 45% stake in an onshore licence in the eastern Niger Delta basin in Nigeria from Newcross Petroleum.The transaction, which is being carried out through its subsidiary Lekoil 276, is for participating stake in the production sharing contract (PSC) pertaining to the oil prospecting licence 276 (OPL276 PSC).Lekoil said that the transaction is said to be in line with its continuing strategy to bring together a balanced portfolio of oil and gas interests. Included in these are the producing Otakikpo field, OPL310 which is in appraisal stage, along with high impact exploration assets like OPL325 located across known basins.What the acquisition in the Nigerian onshore licence means for LekoilLekoil CEO Lekan Akinyanmi said: “The acquisition of an interest in the OPL276 PSC represents an excellent opportunity to further build our growing production base in line with our stated strategy to create a balanced portfolio of assets.“With the completion of this, LEKOIL will have acquired a potential near-term producing asset with significant resource potential. We are optimistic about the prospects here, which have shallow reservoirs and are cost efficient to develop. Our focus will now shift to moving plans quickly forward for oil and gas production.”The onshore Nigerian license is near three existing producing fields – Effiat-Abana in OML114, Stubb Creek straddling it and OML13, and Uquo in OML67, all located within 20km from it.Newcross Petroleum had identified ten prospects and seven leads in the acreage under the licence 276. Four wells were drilled in the asset between 1972 and 1986, which led to two oil and two gas discoveries, which include the Uda oil and gas discovery, Okposo-East oil and gas discovery, Mbo gas discovery, and the Davy Bank gas discovery.Based on data from the four wells, the preliminary resource estimates by Newcross Petroleum are gross recoverable volumes of 29 million barrels of oil and 333Bcf of gas, and an upside of 33 million barrels of oil and 476Bcf of recoverable gas.Lekoil’s subsidiary will also sign an interim governance agreement with Newcross Petroleum and Albright Waves Petroleum Development, which will define terms as per which the former will offer technical support to the PSC.Post-acquisition, Newcross Petroleum will reduce its stake in the onshore Nigerian licence from 90% to 45%, and will continue to be the operator, while Albright Waves will retain its 10% stake. According to Lekoil, the onshore licence 276 contains four hydrocarbon discoveries, and is in close proximity to three existing producing fieldslast_img read more

Calima Energy to acquire Tommy Lakes infrastructure in Canada

first_img The Tommy Lakes Infrastructure lies immediately north of the Calima Lands. (Credit: Calima Energy Ltd) Calima Energy has signed an agreement to acquire compression facilities, associated pipelines and infrastructure in the Tommy Lakes field in British Columbia, Canada from Canada’s independent oil and gas producer Enerplus.The main components of the assets considered for acquisition include compression, processing and associated pipelines capable of transporting up to 50 million cubic feet per day (Mmcf/d) of gas and 1,500-2,000 barrels per day (bpd) of well-head condensate to NorthRiver’s Jedney processing facility.It also includes field office with a control centre and flexible camp facilities suitable for drilling operations as well as year-round condensate storage and off-loading facilities. Financial terms of the deal were undisclosed.Calima managing director Alan Stein said: “This is a significant strategic acquisition that gives the Company access to markets in a very cost-efficient manner. With gas prices showing consistent increases over the last 6 months development economics are showing steady improvement.“With a replacement value of $85 million the re-use of Tommy Lakes significantly reduces capital cost however, just as importantly, avoids the time involved in permitting and constructing new facilities. The Calima Lands are now ready for development once a funding partner is secured.”Calima said that the facilities are of strategic value as they are located 20km from its lands.Recently, the company secured regulatory approval to construct the pipeline to connect the company’s suspended wells on Pad A to the Tommy Lakes facilities.Calima to acquire 11 gas production wells in Tommy Lakes fieldSeparately, Calima has signed an option agreement to acquire 11 gas production wells on or before 1 April 2022 in the Tommy Lakes field.The company will have an option to use gas from the wells as fuel as part of the start-up sequence for the facilities.The Tommy Lakes field, which has been in production since more than 20 years, uses conventional completion techniques from the Dog/Halfway Formation located immediately above the Montney.Last year, Calima reported the spudding of the first well to test the prospectivity of the Montney Formation in its lease holdings in British Columbia. Calima will acquire assets including compression, processing and associated pipelines in the Tommy Lakes fieldlast_img read more

UK steps up housebuilding

first_imgHome » News » Housing Market » UK steps up housebuilding previous nextHousing MarketUK steps up housebuildingNew home registrations reached an eight year high in 2015.The Negotiator4th February 20160687 Views The number of new homes registered to be built in the UK increased by 7 per cent year-on-year in 2015, hitting an eight year high of over 156,000, the latest figures from the National House Building Council (NHBC) show.Private sector registrations rose by seven per cent to 118,611 in 2015 compared to 110,674 in 2014 while public sector registration increased by five per cent to 37,529 from 35,685 in 2014.While the 2015 annual total is still well below the 199,177 new build homes registered in 2007, it is 75 per cent higher than the 88,993 new homes registered during in 2009.“2015 was a year for continued housing growth in the UK. Both the public and private sectors have performed well and we have seen encouraging levels of house building across most regions of the country,” said NHBC chief executive Mike Quinton (left).The volume of detached homes registered reached 42,173, the highest for more than a decade. Additionally, the number of semi-detached homes registered in 2015 at 35,423 was the highest in over 20 years.NHBC’s latest figured also revealed that most parts of the UK experienced significant growth year-on-year, led by Northern Ireland, up 30 per cent, albeit, from a relatively low base. This was followed by the East of England which saw a 23 per cent upturn, the North West up 16 per cent and Scotland up by 15 per cent.London continued to lead the way in the number of new home registrations, but the 2015 figure of 25,994 registrations actually represented a 9 per cent fall on the 28,518 new homes recorded in 2014. New home registration in Yorkshire and the Humber and Wales fell by 13 per cent and two per cent year-on-year respectively.The volume of new homes registered remains significantly below the Government target of 200,000 new homes a year, and also represents less than two-thirds of the estimated 250,000 new homes a year needed to meet existing demand for housing in England.“There is still a way to go before we are building the levels of new homes that were seen before the economic downturn, but 2015 represents consolidation on the growth seen over the last three years,” Quinton added.One of the biggest constraints on the housebuilding industry’s ability to meet the new level of demand and deliver further sustained increases in build rates is the planning process, with many developers still finding many of their applications for consent shrouded in red tape and delays.“How quickly we get more sites to the point where we can actually start to lay bricks will be a major influence on future house building levels,” said Stewart Baseley, Executive Chairman of the HBF.Another major problem facing the housebuilding sector as a whole is a shortage of labour, which is pushing up the price of hiring tradesmen.The financial crash of 2007-08 bears some of the blame as it led to thousands of people leaving the construction industry. Now that demand has returned, there is a skills shortage, with bricklayers, carpenters and joiners in short supply.Brian Berry (right), Chief Executive of the FMB, said, “We’re already seeing housing developments starting to stall because the cost of hiring skilled tradespeople is threatening to make some sites simply unviable. Unless we see a massive uplift in apprenticeship training in our industry, there won’t be enough pairs of hands to deliver more housing on this scale.”housebuilding new build homes new homes registered to be built in the UK new homes February 4, 2016The NegotiatorWhat’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

Home truths and Churchside join forces

first_imgHome Truths has announced a new partnership with Chorley based Churchside Financial Planning Solutions, to provide mortgage and insurance advice, to Home Truths clients, from its offices in Coppull and Eccleston. Churchside financial planners will provide a property based financial services offering to meet all mortgage, protection, and insurance needs for people planning to buy a new home.With specialist advice on new purchases, re-mortgages, buy-to-let and insurance, people considering purchasing a new property, can now get the advice they need, when they need it.Home Truths Director, John Ascroft, said, “This is an exciting new venture for Home Truths, providing our clients with access to trusted, financial advice. We are delighted to be working with Churchside, who have built an excellent reputation in the area.”Churchside Managing Director, Sue Smith, said: “It’s a natural fit for Churchside and Home Truths. We are both family businesses and go the extra mile to provide a trusted service for our clients. This is a fantastic opportunity for all involved.”Home Truths partnership Churchside Financial Planning Solutions October 6, 2017The NegotiatorWhat’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 2021 Home » News » Agencies & People » Home truths and Churchside join forces previous nextAgencies & PeopleHome truths and Churchside join forcesThe Negotiator6th October 20170461 Viewslast_img read more

Fed up with fake enquiries? New tool checks leads against social media profiles

first_imgA tool that automatically checks agents’ incoming vendor and buyer leads against their social media profiles has been launched.Recently-launched company OneDome, which has developed the tool, says it will enable agents to instantly check out the person prior to a viewing or valuation appointment by providing information from their Facebook, Twitter and other social media profiles.The company says it believes that agents have to research up to ten potential buyers of a property prior to viewings and spend up to half an hour doing it. It claims therefore that up to five hours’ work can be saved per property listed.Fake leadsOneDome’s tool also helps agents screen out time wasters and ‘fake leads’ – or in other words people enquiring who mistakenly or deliberately provider false details – which OneDome says constitute a third of all leads from portals and automated valuation tools.“Our tool cannot prevent people from entering fake details, but with over 78% of the UK’s adult population using Facebook and other social channels, it allows us to provide agents with a quick way to eliminate time wasters, leaving them to focus on following up the hot leads,” says OneDome founder and former City trader Babek Ismayil (pictured, left).OneDome, which is both a proptech company offering ‘hybrid’ tools to high street estate agents and a leads generator, now has 100 branches signed up to its service including North London agent Prickett & Ellis and central London prime agent Russell Simpson, with a further 586 branches lined up.The company has funding of £4.25 million behind it and recently hired Legal & General’s former head of estate agency networks and agent, Tim Price (pictured, right).OneDome Babek Ismayil social media Tim Price November 20, 2017Nigel LewisOne commentLaura Hulett, PSG PSG 22nd November 2017 at 9:38 pmRealistically, how much information would be obtained? I don’t see how you can verify a person from FB if there is no information about the person’s address, unless you are gaining access to data which has not been shared publicly (which would be a data protection breach).Also of concern would be any ‘profiling’ of potential tenants based on their views expressed, tweets shared or fb ‘likes’.Log in to ReplyWhat’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 » Fed up with fake enquiries? New tool checks leads against social media profiles previous nextFed up with fake enquiries? New tool checks leads against social media profilesDeveloper OneDome says new tool will both save time for sales staff and help filter out time wasters inbound from portals and AVM engines – but not be a snooping tool.The Negotiator20th November 20171 Comment1,849 Viewslast_img read more

Purplebricks now a ‘superbrand’ alongside Rightmove and best-known agents

first_imgHome » News » Marketing » Purplebricks now a ‘superbrand’ alongside Rightmove and best-known agents previous nextMarketingPurplebricks now a ‘superbrand’ alongside Rightmove and best-known agentsHybrid agency has made it into official list of best brands in the UK after being named as one of the ‘fastest growing’.Nigel Lewis15th April 20191 Comment80,208 Views Purplebricks has made it into this year’s business and consumer Superbrands list published over the weekend in the Guardian newspaper, handing the hybrid agency a major coup in its attempts to establish itself as a household name.The list is compiled each year by canvassing firm Dynata for Superbrands and this year it polled 2,500 UK adults, alongside a voting council of business experts.Both groups were asked to judge over 3,000 brands and this year several property industry names were picked out to join the Superbrands list of the best, which is in its 20th year.As well as Purplebricks, the other new entrant is Rightmove while familiar names from previous lists include JLL, Savills, Knight Frank and Strutt & Parker.All the property industry brands join an august list of British business and consumer names for 2019 including Barclays, British Airways, Odeon, P&O Ferries, Rolls-Royce, Sainsbury’s and TSB.“This index surfaces quite a different set of brands,” says Stephen Cheliotis, Chair of Superbrands UK.“Established titans like FMCG brands Coca-Cola or Gilette are replaced by rising disruptive [ones] such as Netflix and Purplebricks.”Cheliotis also reveals that Purplebricks is the 13th fastest-rising consumer brand in UK for ‘gaining relevancy’.All the companies included in the list were judged on the output of their brand and marketing activity and how it is perceived by their customers.  Firms, who do not pay to enter the competition, are also picked based on their brand’s quality, reliability and distinction.knight frank Purplebricks Strutt & Parker Rightmove Savills Superbrands UK April 15, 2019Nigel LewisOne commentAndrew Stanton, CEO Proptech-PR Real Estate Influencer & Journalist CEO Proptech-PR Real Estate Influencer & Journalist 28th April 2019 at 11:24 pmPurplebricks is certainly a strong brand, and stands out, and does spend millions on brand awareness. But, unlike Coca-Cola it has never made a penny profit since it commenced trading.Also, and this is the most interesting part of their branding – Purplebricks instead of saying it is the best agent, or gets the vendor the best price, instead knocks other rival estate agents by saying that it does not, unlike the competition charge commission.Regarding relevancy, I think it is a moot point that a company who asks clients to pay for a service upfront, sale or no sale, is a company that has increasing relevancy, as clients who fail to sell, will not be advocates of the company as the company/brand ages.Log in to ReplyWhat’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

UK: HMS Bulwark Hosts ANZAC Commemoration

first_img UK: HMS Bulwark Hosts ANZAC Commemoration Training & Education View post tag: Navy May 1, 2012 View post tag: UK Back to overview,Home naval-today UK: HMS Bulwark Hosts ANZAC Commemoration View post tag: hosts Sailors, Soldiers, Airman and Royal Marines from the UK, Australia and New Zealand held a moving and poignant service to commemorate the bravery and sacrifice made by the Australian and New Zealand Army Corps (ANZAC) who fought at Gallipoli during World War I.The ceremony was held aboard the Devonport based warship HMS Bulwark whilst on a multinational exercise of the North West coast of Scotland hours after she had deployed her boats for an amphibious landing.The Australian and New Zealand personnel, who where embarked as part of the planning and execution staff for the exercise hosted the traditional ANZAC Day Dawn Service. This began at 0445 as the sun rose above the horizon. Following an introduction and a number of readings prayers were led by Bulwark’s Chaplain Rev Dave Roissetter.The poem In Flanders Fields was read by Sub Lieutenant “Kurt” Story Royal New Zealand Navy who is an exchange Officer serving in Bulwark. The Last Post was sounded and a one minute silence observed, the end of which was marked by the sounding of Reveille.Speaking of the service, Sub Lieutenant Story said, “Having just conducted an amphibious landing similar to the assaults on Gallipoli, it is important for us to pause and reflect on the courage and sacrifice of our countrymen.”“In our modern world it is difficult to imagine what they went through in the defence of our freedom but it is something that is worthy of remembering and sets an example to today’s Servicemen who are still risking their lives on a daily basis.”After completing Exercise Joint Warrior, Bulwark will be off Weymouth and Portland for the bulk of the summer, supporting the Dorset Police, acting as a floating command centre for the security mission surrounding the Olympic and Paralympics’ sailing events.[mappress]Naval Today Staff , May 01, 2012; Image: Royal Navycenter_img View post tag: Commemoration View post tag: Naval Share this article View post tag: HMS Bulwark View post tag: News by topic View post tag: Anzaclast_img read more

USS George Washington’s Biggest RAS

first_imgBack to overview,Home naval-today USS George Washington’s Biggest RAS The U.S. Navy’s forward-deployed aircraft carrier USS George Washington (CVN 73) completed its largest replenishment-at-sea (RAS) for the 2013 patrol with Military Sealift Command dry cargo and ammunition USNS Charles Drew (T-AKE 10), Nov. 30.While RAS’s are nothing new to the Sailors aboard George Washington, the ship received nearly 700 pallets of supplies at once, three times the amount of a standard RAS. This produced a unique and rare challenge for the Sailors of the ship’s supply department.“The biggest challenge was trying to move all these supplies around as quickly and safely as we could.” said Logistics Specialist 2nd Class Damon Candelarie, from San Leandro, Calif. “It involved a lot of cooperation and effort from everyone. For most RASs we normally have around 200 Sailors helping, however, we needed more than 300 for this one.”George Washington conducts approximately three to four RASs over the course of a month while on patrol under normal operating conditions. Due to certain circumstances, the ship was forced to skip some of them.“Since we were busy operating in the Philippine area to help with [Operation Damayan], we weren’t able to get supplies for the ship regularly,” said Senior Chief Logistics Specialist Hai Tran, George Washington’s shipping and receiving leading chief petty officer. “The supplies we would’ve got piled up, so once we could do a RAS we ended up taking everything all at once.”In order to move the supplies to where they belong, each pallet had to be air lifted from Charles Drew’s flight deck to the drop zone on the fantail of George Washington, taken from the drop zone to the hangar bay via aircraft elevator where they were processed and sorted to be sent to various storerooms.“Once the pallets get to the hangar bay we have to sort and catalogue each one,” said Candelarie. “After that, we have to take them down to the proper storage place, which takes about another day or so to finish.”Safety plays a huge role in large ship evolutions like replenishments-at-sea. In order to finish the mission without incident, like any other mission, every Sailor must keep their head on a swivel and maintain good safety practices.“To safely execute a large evolution like a RAS, training and planning play crucial roles,” said Cmdr. Richard Morrison, the ship’s safety officer. “Our procedures are written in blood, knowing and following them is essential. Planning helps anticipate and prevent problems before they occur. But above all else, everyone must be alert and keep searching for hidden dangers.”George Washington and its embarked air wing, Carrier Air Wing (CVW) 5, provide a combat-ready force that protects and defends the collective maritime interest of the U.S. and its allies and partners in the Indo-Asia-Pacific region.[mappress]Press Release, December 04, 2013; Image: US Navy Share this article December 4, 2013center_img USS George Washington’s Biggest RAS Training & Educationlast_img read more

NATO, Djibouti Enhance Cooperation

first_imgBack to overview,Home naval-today NATO, Djibouti Enhance Cooperation View post tag: Cooperation Authorities View post tag: Naval View post tag: Enhance View post tag: News by topic View post tag: africa View post tag: Counter-Piracy View post tag: Djibouticenter_img NATO and the Republic of Djibouti have enhanced their cooperation, by concluding on 22 April 2015 an agreement to establish a NATO liaison office in Djibouti in support of the Alliance’s counter piracy operation, Ocean Shield, in the Gulf of Aden. NATO Deputy Assistant Secretary General for Operations, Ambassador Francesca Tardioli, and the Republic of Djibouti’s Minister of Foreign Affairs, H. E Mahmoud Ali Youssouf, signed the agreement.The establishment of a liaison office will facilitate greater operational, logistical and administrative coordination. It will also provide the basis for further dialogue between NATO and the Republic of Djibouti on potential partnership activities in areas of common and mutual interest, including the maritime dimension. Djibouti is an active regional partner in the international efforts to prevent and deter the threat of piracy. It is also a strong supporter of the NATO Ocean Shield operation.Ocean Shield was first established in August 2009 and has been subsequently renewed. The current mandate will run until the end of 2016. Since the launch of Ocean Shield, NATO has been working in close cooperation with other actors in the region including the European Union’s Operation Atalanta, the US Combined Task Force 151 and individual country contributors. No successful pirate attacks have been conducted in the area of operation of Ocean Shield since May 2012.[mappress mapid=”15744″]Image: NATO View post tag: NATO View post tag: Navy Share this article View post tag: Ocean Shield NATO, Djibouti Enhance Cooperation April 22, 2015last_img read more

HMAS Canberra Practices Skills off Queensland

first_img View post tag: Sea Explorer View post tag: Asia-Pacific Share this article HMAS Canberra Practices Skills off Queensland Australia’s newest military capability, the Amphibious Ready Element embarked in HMAS Canberra, is continuing to hone its skills during Exercise Sea Explorer in Far North Queensland.The element has been conducting the second of the ‘Sea Series’ of exercises under command of the Amphibious Task Group Headquarters that comprises the Navy’s biggest ship, Air Force assets and supported by the Army’s 2nd Battalion, Royal Australian Regiment and other Army units.The focus of the exercises is on training and assessing the Amphibious Ready Element in a permissive environment scenario which is currently taking place in waters off the North Queensland coast from August through to October.Leading the exercise is Captain Jay Bannister, the Commander of the Amphibious Task Force, who said the recent focus had been projecting land forces across Cowley Beach in Far North Queensland.Captain Bannister said:The effort so far has been the safe and efficient transfer of our troops and vehicles to the beach, where they can train for Humanitarian Assistance and Disaster Relief events.Canberra is equipped with four Army MRH-90 helicopters and a Navy Maritime Support Helicopter, along with 60 vehicles including bulldozers, light armoured vehicles, protected mobility vehicles, four landing craft and smaller amphibious boats.Commander of the Land Force, Lieutenant Colonel Michael Bassingthwaighte, who is also the Commanding Officer 2nd Battalion, the Royal Australian Regiment, said his troops had been working on completing the ship to shore transfer by day and night since completing induction training.The Sea Series of exercises will conclude in early October, when the Amphibious Ready Element has successfully completed the series of exercises comprising both collective training and certification events.Image: Australian Navy Back to overview,Home naval-today HMAS Canberra Practices Skills off Queensland center_img View post tag: HMAS Canberra View post tag: Queensland Authorities September 11, 2015last_img read more