Trapoil, the North Sea gas and oil explorer, has reported that operations have begun on the Orchid exploration prospect, where it has a 15% interest. This marks the start of the firm's 2012 exploration programme, which it is currently intended will include the drilling of up to a total of seven wells targeting total best estimate net risked prospective resources of around 14.3m barrels of oil equivalent. Valiant Petroleum also has a 30% stake in Orchid.
Global Petroleum has completed the sale of its 15% working interest in the Olmos asset, which is part of the Leighton Project in Texas, USA, for $2.8m. The interest has been sold to US outfit SV Resource Partners, who have also bought up the interests in the Leighton Project from Texon Petroleum, the major participant in the project.
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Mediterranean Oil and Gas has signed a gas sales contract with Repower Italia covering the entirety of its Italian subsidiary the Medoilgas's net gas production from the Guendalina gas field. The contract lasts for one 'thermal' year, commencing from October 1st 2012, and will be automatically renewed by a further year unless terminated by either party.
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Reeves warned against property tax shake-up – 3 ways it could backfire on first-time buyersRachel Reeves reportedly has her eye on high-end property taxes in the upcoming Budget, but there are concerns a shake-up could unintentionally hamper those trying to get on the housing ladder
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Average Brits want to retire five years before they can – who has the widest retirement gap?Brits are expecting to work for longer than ever but there are big disparities in the number of extra working years predicted. A small tweak could help close the gap
