A shareholder revolt dominated small-cap oil and gas news, with a requisition notice demanding the removal of Union Jack Oil (AIM:UJO)'s entire board landing on the same day that Georgina Energy confirmed its Western Australian drill programme remains on schedule and Caspian Sunrise spudded the first of three deep wells needed to secure a long-term production licence in Kazakhstan.
Shareholders requisition vote to remove entire Union Jack board
Union Jack Oil (AIM:UJO) faces a full boardroom clear-out after shareholders filed a formal requisition notice demanding the removal of all three sitting directors, Joseph O'Farrell, Craig Howie and John Americanos, and their replacement with two new appointees, Zac Phillips and David Bramhill. The requisition triggers a general meeting obligation under company law, setting up a direct confrontation between the existing management and a dissident shareholder group. The shares fell 3.45% to 3.5p on the news.
Georgina Energy completes site works ahead of Hussar September spud
Georgina Energy (AIM:GEX) confirmed that contractors have completed all pre-drill ground works at the Hussar EP513 prospect in Western Australia, including site clearing, grading and airstrip construction, keeping a September spud date firmly on track. The milestone removes a key logistical risk ahead of what would be the company's first well at the project. Anthony Hamilton and the board provided the update as the shares eased 1.44% to 5.125p.
Caspian Sunrise spuds first deep well at Yelemes in Kazakhstan
Caspian Sunrise (AIM:CASP) has spudded Deep Well 707 at its Yelemes Deep structure in Kazakhstan, targeting the Lower Triassic reservoir. The well is the first of three deep wells the company must drill to satisfy the conditions for a 25-year production licence at the block, making it a structurally significant operational step. The shares were quoted at 1.9p. Seokwoo Shin and Clive Carver are among those overseeing the programme.
