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.
Xcite Energy upbeat on latest reserves figures for Bentley field
Xcite Energy (LON:XEL) has released the results of an updated independent reserves and resources audit for its Bentley oil field in the North Sea.
Egdon Resources farms-out UK licence interest ahead of well drilling
Egdon Resources (LON:EDR) has farmed-out a 12.5% interest in its PEDL201 licence in Nottinghamshire and Leicestershire to Terrain Energy Ltd and Corfe Energy Ltd.
Bowleven in takeover talks with Dragon Oil
Bowleven (LON:BLVN), the West Africa focused exploration group, is in talks over a possible takeover by Dragon Oil (LON:DGO).
Oilex resumes recovery work in Cambay field
Oilex (LON:OEX) has resumed work to try an retrieve the stuck milling assembly from the Cambay-76H horizontal well in the Cambay Field, onshore Gujarat, India.
Caza looks to sell San Jacinto property
Caza Oil & Gas (LON:CAZA), the US E&P company, is exploring the possibility of selling its San Jacinto Property in Midland County, Texas.
Sefton Resources meets expectations with latest field report
Sefton Resources (LON:SER), the US exploitation and production company, has reported a reserves update for its Tapia and Eureka Canyon Fields in California. The figures were in line with analyst forecasts, with the oil assets valued at £87.7 million and proved reserves unchanged at 3.7m barrels.
Magnolia Petroleum agrees to buy additional acreage in Oklahoma
US focused exploration and production company Magnolia Petroleum (LON:MAGP) has acquired an additional 480 gross acres with an average 83.33% working interest in the oil producing Mississippi Lime Formation, Oklahoma.
Aminex gets better results from latest well in Tanzania
Aminex (LON:AEX), the oil exploration company working in East Africa, has managed to rescue what appears to be a positive result from what had earlier been considered a disappointing well at Ntorya-1 in the Ruvuma Basin onshore in Tanzania.
