Lochard Energy directors face shareholder revolt
Lochard Energy (LON:LHD), the AIM and ASX oil group with a stake in the soon to be producing Athena oilfield in the North Sea, is facing a backlash from one of its largest shareholders.
Wessex Exploration partner kicks off Isle of Wight seismic survey
Wessex Exploration (LON:WSX) confirmed this morning that a 50km 2D seismic survey is under way over its PEDL 239 licence on the Isle of Wight.
Circle Oil credits development work for reserves upgrade
Exploration and production group Circle Oil (LON:COP) has revealed the details of a new Competent Persons Report (CPR), including a “highly significant” upgrade of 30% to the 2P recoverable reserves of oil and gas from the 2011 estimates of ultimate recoverable resources. The company said the upgrade reflected the success of its development activities throughout [...]
Providence Resources encouraged by Barryroe appraisal well
Providence Resources (LON:PVR), the E&P company currently drilling offshore southern Ireland, has confirmed that its eagerly anticipated Barryroe appraisal well has provided “extremely encouraging” high quality light oil within a porous and potentially laterally extensive sandstone system.
Global Petroleum puts Eagle Ford interests up for sale
Global Petroleum (LON:GBP), the AIM and ASX listed exploration and production group, has instigated a move to sell its interest two Eagle Ford production wells and related leases.
Aurelian Oil & Gas extends Polish licence
Aurelian Oil & Gas (LON:AUL), the European focused E&P company, has been granted an extension to its Block 208 licence by the Ministry of Environment in Poland.
Tower Resources disappointed by latest Uganda well
Tower Resources (LON:TRP), the AIM listed oil company with exploration assets in offshore Namibia and onshore Uganda, has failed to find oil in the Mvule-1 exploration well in Uganda Licence EA5.
Ascent Resources reports 22% increase in gas volumes at Petišovci project
Ascent Resources (LON:AST), the E&P group operating in Europe, has reported a 22% increase in P50 gas-in-place (GIP) volumes at its Petišovci project.
Shell makes £992m move on Cove Energy
Oil giant Royal Dutch Shell (LON:RDSA) has made a proposed offer to buy Cove Energy (LON:COV) in a 195p per share cash deal that would value the AIM listed company at £992.4 million.
Madagascar Oil wraps up new fundraising
Madagascar Oil (LON:MOIL) has successfully raised US$26.5 million in a placing of shares priced at 28 pence each. The cash has been earmarked to strengthen the company’s balance sheet and to help fund the development of its assets, including the Tsimiroro oil field.
Cove Energy cheers continued drilling success offshore Mozambique
Cove Energy (LON:COV) and Anadarko Petroleum have confirmed that their latest appraisal well in the Rovuma Basin, offshore Mozambique, encountered 577 net feet of natural gas pay.
Magnolia Petroleum to drill four wells with Chesapeake in Oklahoma
Magnolia Petroleum (LON:MAGP), the US focused exploration and production company, will be participating with oil and gas company Chesapeake Exploration in four horizontal wells targeting the Mississippi Formation in Oklahoma.
