3Legs Resources, an independent group focusing on the exploration and development of unconventional oil and gas, has said that, as anticipated, ConocoPhillips did not exercise its option to take a 70 per cent interest in 3Legs's three eastern Baltic Basin concessions in northern Poland.
ConocoPhillips last month exercised its option to become operator of the concessions. 3Legs said is considers that its drilling and seismic operations to date have increased the probability of success in this most prospective acreage, as compared to assessments made at the time of its initial public offering in June 2011.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
‘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.
-
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”
