Deltic Energy, formerly Cluff Natural Resources, has “unequivocally rejected” a £12.3million bid from Reabold Resources to acquire a controlling stake in the business.
Dutch firm One-Dyas has confirmed an oil discovery with its Ossian-Darach well in the southern North Sea.
The UK North Sea’s maturity is a double-edged sword when it comes to exploration, an analyst has said.
Westwood Global Energy reports that at the end of April, three exploration wells were active, with two in the West of Shetlands and one in the Central North Sea.