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Enegi Oil sees improved well performance

Fri, 10th Jun 2011 11:47

AIM-listed Enegi Oil has issued an upbeat assessment of its Canadian oil operations.In an operational update the company says it has ended a "farm-in" agreement with Fire Horse Energy to enable it to directly control "workover" activities. Essentially these are activities to improve the efficiency of the well that is located in Port au Port, Western Newfoundland.The company highlights the results of the latest work on the well. It claims "performance is much better".The most significant part of the update is the statement that: "The improvement in connectivity coupled with the well performance under choked conditions indicates that the well is in contact with more oil than previously estimated."The market responded positively to the release, with the company's shares up 88p to 1,562p, a rise of 5.93%.BS
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22 Dec 2009 08:11

Small caps round-up: DQ Entertainment, Energetix...

Gaming animation and entertainment group DQE posted flat revenues in the year to September 30 amid tough economic conditions but posted a sharp rise in pre-tax profits. Profit before tax rose to $1.1m from $400,000 the previous year as revenues stayed flat at $14.4m. DQE licenses and distributes c

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15 Dec 2009 09:05

Small caps round-up: Plexus, Independent Media, Interbulk...

Oil and gas engineering services firm Plexus Holdings has won a three year contract with a further two year option clause with Maersk Oil to supply its High Pressure/ High Temperature POS-GRIP wellhead technology. The value of the initial contract is estimated at £3m with revenues commencing in May

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1 Oct 2009 12:48

Enegi Oil back in business at Garden Hill South

Enegi Oil gushed higher Thursday on news its PDI Production unit intends to resume operations at the PaP#1-ST#3 well at Garden Hill South 'within the coming weeks'. In January, the group said the well on the Port au Port Peninsula of Western Newfoundland initially flowed at 500 bopd and 1,690 mscf

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25 Aug 2009 08:53

Small caps round-up: Chime, Gulf Keystone, RTS...

Chime Communications, the leading marketing services group, said it posted its highest ever first half pre-tax profit. Profit before tax rose 4% to £8.5m on turnover that rose to £137m from £115m before. 'Having delivered the highest profit in our history we have outperformed the market and our co

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