7 Nov 2014 08:09
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Don't have an account? Click here to register.Enegi Oil rockets on Newfoundland approval
Thu, 22nd Dec 2011 09:39
Enegi Oil has leapt 18% in early trading on news it has received permission to complete a work-over programme on its PAP#1 well in western Newfoundland.The news comes after a long-running dispute with its previous partner on the project. The firm says any financing needed for the work-over will be less than the 40% stake held by the previous partner.The announcement comes in Enegi's full year report for the period ending 30 June in which it admits; "As in prior years, subject to any further fundraising, the company is reliant upon achieving commercial production in the foreseeable future." Enegi also has two projects through which it hopes to reduce its risk exposure to Western Greeland. The first is the onshore petroleum license granted by the Irish government in February for a project in County Clare. The second is its relationship with Avanced Buoy Technology (ABT), a firm which is developing a way to reduce the costs of offshore drilling. Enegi's option to buy ABT passed in September but the two firms have agreed to continue their strategic partnerhsip.Commenting on the results Enegi's Chairman Alan Minty said: "I am excited about the prospects for the coming year; the workover results from (Newfoundland) are eagerly anticipated; we will commence work on a new exciting lead in Ireland and we continue to work with ABT with the aim of expanding further Enegi Oil's portfolio."At 10:00 in London the stock had dropped off its early highs to sit at 9.9p, still 13% up on the open. Since January Enegi shares have fallen 63%BS
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12 Jun 2014 12:23
Enegi Oil Says Wood Group Unit Has Agreed To Invest In ABT Oil & Gas
LONDON (Alliance News) - Enegi Oil PLC Thursday said that a non-binding memorandum of understanding is now in place setting out the terms of a deal under which Wood Group PSN will take a 50% stake in ABT Oil and Gas Ltd's engineering technology subsidiary, Marginal Field Development Co. Woo
Read more12 Jun 2014 07:36
UK MORNING BRIEFING: AstraZeneca Signs Asthma Deal With Synairgen
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10 Apr 2014 11:25
Enegi Oil Alters Production Plan On Fyne Field And Restructures Joint Venture
LONDON (Alliance News) - Enegi Oil PLC Thursday said the development of the Fyne Field is continuing in line with expectations, with Antrim Energy Inc submitting a new Environmental Statement in March and the company deciding to alter its production plan for the site, while it has also decided to
Read more31 Mar 2014 12:27
Enegi Oil Pretax Losses Narrow On Lower Expenses
LONDON (Alliance News) - Enegi Oil PLC Monday said its pretax loss narrowed slightly in its first half as expenses fell at the company. The oil and gas company with a portfolio of projects in the UK North Sea, the Canadian province of Newfoundland, Ireland and Jordan said its pretax loss na
Read more11 Mar 2014 12:50
Enegi Oil Extends John Wood Option Over Marginal Field Initiative
LONDON (Alliance News) - Enegi Oil PLC Tuesday said it, along with Advanced Buoy Technology Ltd, have agreed to extend an option agreement allowing Wood Group PSN, a division of John Wood Group PLC, the possibility to expand its participation in the development of a marginal field initiative.
Read more11 Mar 2014 11:36
Enegi Oil JV extends option agreement with Wood Group PSN
Enegi Oil, which in partnership with ABTechnology owns the ABT Oil & Gas joint venture (JV), has agreed to extend its option agreement with Wood Group's PSN division (WGPSN) until March 31st 2014. The option gives WGPSN the possibility to expand its participation in the development of the marginal
Read more25 Feb 2014 12:09
Enegi Oil Raises GBP2.0 Million As It Unveils Timetable For Fyne Oil Field
LONDON (Alliance News) - Enegi Oil PLC Tuesday said it has raised GBP2.0 million after expenses through a share placing with new investors that will provide it with funding it needs for its Fyne Oil Field Farm-In as a result of new developments there. The placing was conducted solely with Y
Read more