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Mayan Energy Investee Petroteq Energy Ramps Up Production In Utah

Fri, 29th Mar 2019 15:18

LONDON (Alliance News) - Mayan Energy Ltd said Friday an investee firm has been producing in excess of 500 barrels of oil a day for the last two weeks at its Utah heavy oil sands project.

Shares in Mayan Energy were up 17% Friday afternoon at 0.13 pence each.

Toronto-listed Petroteq Energy Inc reached the "significant milestone" at Asphalt Ridge, said Mayan, as it continues to "demonstrate commercial viability".

Mayan holds 1.0 million shares in Petroteq, equivalent to a 2.3% stake in the 43.9 million shares outstanding. Mayan also has 1.0 million warrants exercisable at USD0.90 each for the firm.

Mayan said: "Petroteq is one of the first companies to produce oil from the multi-billion barrel surface bitumen oil sands resource in Utah and is has the potential to be a leader in the oil sands play in coming years. Petroteq's technology has produced 10,000 barrels from its Asphalt Ridge facility to date."

The Asphalt Ridge facility is designed to produce 1,000 barrels of oil per day and Petroteq anticipates reaching that capacity in the "near term".

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7 Jun 2019 13:00

Mayan Energy On Course To At Least Meet Austin Oil Field Target

LONDON (Alliance News) - Mayan Energy Ltd on Friday said it is confident of meeting or even exceeding its production target at its Austin oil field in Texas once operations are optimised.In

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7 Jun 2019 09:48

Mayan Energy stays on track despite 'exceptional period of weather'

(Sharecast News) - Oil and gas producer Mayan Energy's Texan assets recorded a gross mean average production of 131 barrels of oil equivalent per day during the month of May from its Texas assets amidst "an exceptional period of weather".

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30 Apr 2019 12:05

Mayan Energy Raises Cash As It Takes Over Attis Oil & Gas (ALLISS)

LONDON (Alliance News) - Mayan Energy Ltd is to change its name following an acquisition, the company said on Tuesday, whilst it has also raised GBP700,000.Mayan is to buy Attis Oil & a

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15 Apr 2019 12:45

Mayan Energy Austin Field In Production; New Zink Ranch Agreement Made

LONDON (Alliance News) - Mayan Energy Ltd on Monday said its Austin field wells in Texas have been bought on production and it has terminated its relationships with Iron Hawk Energy Group and Red

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26 Mar 2019 16:47

Investor Sebastian Marr Now Owns 14% Of Mayan Energy Stake (ALLISS)

LONDON (Alliance News) - Mayan Energy Ltd said Tuesday that investor Sebastian Marr now owns a 13.6% stake in the company.Marr's interest in the energy firm prior to a deal completed in

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18 Mar 2019 16:54

Mayan Energy Investee Petroteq Energy Begins Sales Of Heavier Oil

LONDON (Alliance News) - Mayan Energy Ltd said Monday an investee firm had begun oil production sales from its Utah heavy oil sands project.Toronto-listed Petroteq Energy Inc began sales in

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28 Feb 2019 13:20

Mayan Energy To Begin Work-Over At Austin Field Wells In Texas

LONDON (Alliance News) - Mayan Energy Ltd said Thursday its contractor has started the first phase of operations at the company's Austin Field project in the US state of contract operator, for

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21 Feb 2019 15:35

Mayan Energy Investee Finalises Plant Maintenance Works In Utah

LONDON (Alliance News) - Mayan Energy Ltd on Thursday said its investee Petroteq Energy Inc has completed its first maintenance turnaround at its oil sands processing facility located near Vernal,

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11 Feb 2019 14:19

Mayan Energy Investee Petroteq Energy To Buy 50% Stake In Utah Field

LONDON (Alliance News) - Mayan Energy Ltd said Monday that its investee company Petroteq Energy Inc will buy a 50% stake in the operating rights and interests of a licence in Utah, said it will to

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29 Jan 2019 10:49

Mayan Energy To Streamline Portfolio Following Strategic Review (ALLISS)

LONDON (Alliance News) - Shares in Mayan Energy Ltd fell Tuesday as the firm said it is to focus on two assets and put a third up for sale.The stock was 15% lower on Tuesday at a price of a

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29 Nov 2018 09:34

Mayan Energy focusses on strategic development post portfolio review

(Sharecast News) - Oil and gas company Mayan Energy intends to sift through the findings of its recent asset portfolio review in order to determine a strategy for its development.

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20 Nov 2018 12:01

Mayan Energy Nets GBP200,000 From Stake Sale In Block Energy (ALLISS)

LONDON (Alliance News) - Oil and gas company Mayan Energy Ltd said Tuesday it has sold its 3.29% interest in Georgia-focused explorer Block Energy PLC, netting GBP203,213.Proceeds from the

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9 Oct 2018 10:43

WINNERS & LOSERS SUMMARY: Serica Energy Jumps On Iran Sanctions Waiver

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - up 1.8%. The insurer said it remains on track a

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9 Oct 2018 09:01

Mayan Energy Halts Development Activities For Portfolio Review

LONDON (Alliance News) - Shares dropped in Mayan Energy Ltd on Tuesday after it said development activity will be put on hold as the company conducts a review of its assets for allocation of in to

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