Oil and Gas Round-Up – 1 March
A takeover, drilling results, investor discontent, contract award, asset deals and appointments were all seen in the SmallCapNews universe this week.
Lochard Energy draws line under the past
Lochard Energy (LON:LHD) has posted interim results which show that the new management team has made strides in resolving legacy issues including litigation, unaffordable drilling commitments and painfully expensive financing costs, issues made more difficult by lower than originally anticipated production from the Athena field.
Lochard Energy forced to let Thunderball licence lapse
Lochard Energy (LON:LHD) is set to let its interest lapse in the Thunderball gas discovery after losing its ability to operate and fund a commitment well on the North Sea licence.
Oil and Gas Round-Up 2012 – Part 2
The second instalment of the overview of the performance in 2012 of the companies in SmallCapNews universe.
Ithaca Energy kicks off oil exports from Athena field
Ithaca Energy (LON:IAE), the North Sea operator that brought the Athena field into production last month, said today that initial peak gross oil production rates from the field stand at 22,000 barrels of oil per day and that oil export operations have begun.
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.
Lochard Energy raises cash to fund Athena costs
Lochard Energy (LON:LHD), the North Sea exploration company, has raised £3.38 million, before expenses in an oversubscribed placing of shares priced at 7 pence each.
Oil and Gas Round-Up
As the great economic depression gets deeper, EnCore Oil has succumbed to the charms of Premier Oil while Cove Energy pops up with more good news in Mozambique.
Lochard Energy searching for partners ahead of plans to drill Thunderball prospect
Lochard Energy (LON:LHD) has opened a data room with the aim of attracting potential farm-in partners for the Thunderball prospect on UK North Sea block 14/26b.
Oil & Gas Round-Up
A mixed bag in the SmallCapNews universe this week; more contracts for Plexus Holdings, disappointment for Petro Matad and others and a little bit of hope sprinkled around too.
