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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‘Inheritance tax insurance’ enquiries are soaring – but is it worth it?Premiums for whole of life insurance can run to £5,000 a month to cover a £300,000 inheritance tax bill, with policies costing more the older you take them out.
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MPs warn over Lifetime ISAs which could leave savers out of pocketThe Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”
