24 Sep 2015 08:30
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Don't have an account? Click here to register.LGO Energy sells over 10,000 barrels of oil in Spain
Tue, 29th Nov 2016 09:06
(ShareCast News) - Oil and gas company LGO Energy has sold over 10,000 barrels of surplus crude oil in Spain.The company's subsidiary Compañia Petrolifera de Sedano, is to deliver 11,200 barrels of surplus crude oil that was built up at the Ayoluengo oil field in December and January 2017 to a Spanish buyer.The oil was sold at a "price competitive with local fuel oil", and the company said it will use the funds generated for general corporate working capital.Chief executive Neil Ritson said: "Whilst the company is still awaiting a final decision from the Spanish government on Compañia Petrolifera de Sedano's application for a 10-year concession renewal from 1 February 2017 we are continuing with normal operations and preparing for various contingencies, including potentially applying for a new 30-year concession should the company consider that to be advantageous."The company also said that the Compañia Petrolifera de Sedano-owned rig in the Ayoluengo oil field, which had recently undergone a two yearly mechanical recertification, has now been returned to service.Shares in LGO Energy were down 3.37% to 0.108p at 0927 GMT.
More News
18 Sep 2015 08:25
18 Sep 2015 07:54
Substantial gross profit increase for LGO Energy
(ShareCast News) - LGO Energy doubled their revenue for the first half of 2015 The AIM-listed oil and gas company announced revenue for the six months to 30 June is at £6.61m, up from £3.23m the previous year. Gross profit was also up over 150%, from £0.797m to £2.062m. That brought the group's pr
Read more7 Sep 2015 12:17
LGO Energy's Goudron well reaches target depth
(ShareCast News) - LGO Energy said the last of its currently-planned 2015 development wells, GY-678, at its Goudron Field development in Trinidad reached target depth on Saturday at 4,219 feet. The company said electric log interpretation from both the Goudron Sandstone and C-sand reservoir interval
Read more7 Sep 2015 09:56
28 Aug 2015 08:33
21 Aug 2015 11:18
LGO Energy slumps amid dispute with Trinity Exploration
(ShareCast News) - Shares in LGO slumped on Friday, after the oil and gas assets developer disputed allegations made by Trinity Exploration & Production earlier this week. In its second quarter update, Trinity claimed the Tabaquite Block was currently classified as "held for sale" on its books, addi
Read more17 Aug 2015 15:44
LGO Energy begins drilling at seventh well in Goudron field
(ShareCast News) - LGO Energy said on Monday that drilling operations at the GY-678 development well at the Goudron field in Trinidad are now underway. GY-678 is the seventh of this year's planned development wells and is being drilled to an anticipated total depth of 4,200 feet. LGO Energy is an oi
Read more17 Aug 2015 08:45