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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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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

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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

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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

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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

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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

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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

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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.

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FTSE 100 - WINNERS

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

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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

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13 Nov 2013 14:19

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

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13 Nov 2013 11:52

Enegi Oil And ABTechnology Sign JV Development Deal With Antrim Resources

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3 Oct 2013 09:39

Enegi Oil Joint-Venture Partner Enters Agreement For New Platform

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30 Sep 2013 10:10

Enegi Oil Prepares To Start Drilling At Black Spruce In Newfoundland

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19 Sep 2013 09:19

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

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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

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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

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