7 Nov 2014 08:09
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Don't have an account? Click here to register.Resources round-up: Enegi Oil, Bowleven, Solo
Fri, 30th Mar 2012 14:36
Enegi Oil is nearing completion of the workover on the PAP 1 well, where data has indicated that the well can be flowed on a continuous basis. The firm has also signed an agreement with Advanced Buoy Technology to apply for licenses in the UK North Sea under the 27th Seaward Licensing round organised by the Department of Energy and Climate Change (DECC). "We are encouraged by the initial results on the workover on Garden Hill South which indicate that upon completion we can expect a positive final outcome which will provide the Company with a strong basis from which to develop," the company said. Bowleven, the Africa-focused oil and gas company, today announces the completion of the sale of its entire equity interest in the EOV Permit, offshore Gabon, to Perenco SA for a cash consideration of $35m. The transaction involves the sale of GGPC Gabon, a wholly-owned subsidiary of Bowleven. GGPC's sole asset is a 100% interest in the EOV Permit. The group's net cash balances, including the disposal proceeds, are around $160m. During the half year ended December 31st, Solo Oil increased its interest in the Reef Resources projects in Ontario and the Tanzania assets (from 12.5% to 18.75%). This has risen to 25% since the year end. In Canada, testing of an improved oil pumping system was undertaken on well A 1 at the Ausable Field and based on performance it has been agreed to install similar pumps in all the Ausable wells. The Likonde-1 well at Ruvuma was drilled was plugged and abandoned after the discovery of a 250 metre gross interval of sands with residual oil shows and reaching a gas zone at total depth.
More News
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
LONDON (Alliance News) - UK shares have opened flat Thursday, following negative trading in the US and Asia overnight.
AstraZeneca is the third biggest gainer on the FTSE 100. The drugmaker said it has signed a global licence agreement with AIM-listed biotechnology
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