Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksENEG.L Share News (ENEG)

  • There is currently no data for ENEG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Enegi Oil obtains 3D data for Phoenix Block

Fri, 22nd Mar 2013 15:31

Independent oil and gas company Enegi Oil has obtained the requisite 3D data for its Phoenix Block in the UK North Sea.In an update issued on Friday, the AIM-listed company reported that it had obtained 250 sq km of 3D data processed to pre-stack time migration (PSTM) and post-stack time migration (PostSTM) over the block which contains the Phoenix Oil discovery. The company said that it will now carry out in-house interpretation, subsurface analysis and reservoir modelling to determine the full range of recoverable reserves for the Phoenix discovery. This would incorporate analysis currently being carried out by Azimuth under the terms of the farm-in agreement announced in February and would allow the company to determine the viability of further appraisal and development. Independently, Enegi reported that Azimuth would be considering the additional exploration potential of the block under the farm-in agreement which might lead to further development activity, with such potential being in addition to the assessment of the Phoenix discovery. The Phoenix oil discovery was discovered in 2004 by the Shell operated well 22/12a-10. Geologically, the discovery is a low - relief dip closed structure that lies on the Forties-Montrose High, located between the Nelson Field 16km to the northwest and the Montrose Field 12km to the southeast. Alan Minty, Chief Executive Officer of Enegi, said: "Securing this data provides the foundation from which further geotechnical analysis will be undertaken. Coupled with the analysis that Azimuth will do on this block, we believe we are in a strong position to determine the feasibility of drilling an appraisal well in the block. We look forward to advancing our portfolio and to providing further updates on our progress." Enegi's share price was up 2.35% to 10.88p at 15:12 on Friday.MF
More News
25 Feb 2014 11:22

Innovators look to new UK oil regulator to support technology

* Wood Review highlights 6 areas for technology focus * New regulator expected to work with oil start-ups * Enhanced Oil Recovery key to getting final barrels out By Stephen Eisenhammer LONDON, Feb 25 (Reuters) - "Nodding donkeys" floating at sea, water injection, and "out

Read more
25 Feb 2014 11:07

Enegi Oil places shares with new investor

Oil and gas group Enegi has placed just under 24.85 shares with a new investor to raise funds for its commitments under the Fyne Oil Field farm-in, as well as those under the Dunmore and Helvick Field farm-in agreements. The 8.07p-a-share placing raised just over £2m after expenses. The shares w

Read more
6 Feb 2014 12:51

Enegi Says Momentum Set To 'Gather Pace' In 2014

LONDON (Alliance News) - Enegi Oil PLC Thursday provided an update on its operations in Western Newfoundland and the development of marginal fields in the North Sea, through its joint venture with Advanced Buoy Technology Ltd. The oil and gas company with a portfolio of projects in the UK N

Read more
6 Feb 2014 08:32

UK MORNING BRIEFING: Vodafone Gains, AstraZeneca Falls At Open

LONDON (Alliance News) - Vodafone has delivered results in line with expectations Thursday morning, helping to give UK share a positive start. Vodafone is up 1.4%.

Meanwhile, AstraZeneca has opened down 2.1% after reporting lower revenue and profit

Read more
6 Feb 2014 08:31

UK MORNING BRIEFING:

LONDON (Alliance News) - Vodafone has delivered results in line with expectations Thursday morning, helping to give UK share a positive start. Vodafone is up 1.4%.

Meanwhile, AstraZeneca has opened down 2.1% after reporting lower revenue and profit

Read more
17 Jan 2014 13:22

UK MIDDAY BRIEFING: Royal Dutch Shell Shocks With Profit Warning

LONDON (Alliance News) - Oil giant Royal Dutch Shell shocked the market Friday by warning that its profits will be well below expectations after nearly every part of its business performed below its expectations in the fourth quarter.

The profit warning has sent its

Read more
17 Jan 2014 10:55

UK WINNERS & LOSERS: Shell And William Hill Lead FTSE 100 Fallers

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Friday.

-------

FTSE 100 - WINNERS

Aviva, up 1.5%. The insurer has revealed that it has entered into a 50-50

Read more
17 Jan 2014 10:48

Enegi Oil Extends Offshore Exploration License EL1116 For 12 Months

LONDON (Alliance News) - Shares in Enegi Oil PLC were trading higher Friday morning after the oil and gas company said that it has extended the initial five year licence period of its offshore exploration license EL1116, in western Newfoundland for a period of 12 months. Back in December th

Read more
13 Nov 2013 14:19

Lansdowne, Enegi Welcome ABT Oil & Gas Farm Into Helvick Field

Read more
13 Nov 2013 11:52

Enegi Oil And ABTechnology Sign JV Development Deal With Antrim Resources

Read more
3 Oct 2013 09:39

Enegi Oil Joint-Venture Partner Enters Agreement For New Platform

Read more
30 Sep 2013 10:10

Enegi Oil Prepares To Start Drilling At Black Spruce In Newfoundland

Read more
19 Sep 2013 09:19

DIRECTOR DEALINGS: Enegi Oil's Minty Sells 1.6M Indirectly Held Shares

Read more
2 Jul 2013 15:05

Antrim says new technology puts small N.Sea oil field back on track

By Sarah Young LONDON, July 2 (Reuters) - Small North Sea explorer Antrim Energy said new technology had allowed it to revive plans to start oil production at a field it previously abandoned as unviable, sending its shares up 45 per cent and raising hopes other such fields could be develope

Read more
29 May 2013 10:12

Enegi Oil joins forces with Advanced Buoy Technology

UK North Sea-focused oil and gas company Enegi Oil has entered into a joint venture agreement with Advanced Buoy Technology (ABT). Under the terms of the joint venture, the two companies will work together to secure and develop interest in stranded, offshore oil reserves. ABT's unmanned buoy tech

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.