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Jubilant Energy, an India focused oil and gas company, has reported successful test results from the fifth development well of the third phase drilling campaign in the already producing Kharsang Field. The well has now been put into production at an initial gross rate of 138 barrels of oil per day.
Read morePetroNeft, an oil and gas company with concessions in Russia, has been forced to postpone a fracture stimulation, or 'fracking', programme at its Lineynoye field after a mystifying fall in oil production at one cluster of wells. The good news is that the Lineynoye Pad1 wells have responded to the w
Read morePetroneft Resources, a Russia-focused oil company, has reported that one of its licences could double its production by the end of the first quarter of 2012. Current field production on licence 61 is about 2,500 barrels of oil per day (bopd), which production expected to reach the guided target of
Read morePetroneft Resources, the Russia-focused oil company, says it has discovered a new oil well in Siberia, though it is not yet sure whether the well is commercially viable. The discovery at its North Varyakhskaya asset is the seventh such discovery. The company says that at North Varyakhskaya drilling
Read moreLondon's leading share index closed pretty much where it started the day yesterday, staging an impressive recovery even as Standard & Poors' downgrade of Italy cast a shadow. In a fresh blow to the debt-stricken country, the ratings agency downgraded its rating on Italian sovereign debt by one notc
Read moreStocks have been steadily moving higher and are now posting strong gains in spite of Standard & Poor's downgrade of Italy. The rise comes after the leading share index suffered triple-digit losses yesterday. In a fresh blow to the debt-stricken area, the ratings agency) downgraded its rating on Ita
Read moreIt was a flat start in London, as investors remained concerns with the escalating debt crisis in the Eurozone. In a fresh blow to the debt-stricken area, ratings agency Standard & Poor's (S&P) downgraded its rating on Italian sovereign debt by one notch on Monday night, citing poor economic growth
Read moreRussia-focused oil and gas firm PetroNeft Resources made a maiden profit in the first half of 2011. Pre-tax profit totaled $3.79m in the period ended 30 June, up from a loss of $4.97m the year before, helped by a foreign exchange gain of $5.97m. Earnings per share were 0.74 cents, compared with 1.5
Read moreOil and gas explorer PetroNeft Resources had a major breakthrough after finding a new oil field at Sibkrayevskaya in Licence 61 in Russia, which it considers to be its largest single discovery to date. Based on preliminary analysis, the company noted that the oil is of "good quality" consistent wi
Read moreFirst Derivatives non-executive director Michael O' Neill has pocketed £550,000 from the sale of shares in the Northern Irish provider of software services to investment banks and hedge funds. He sold 100,000 at 550p a time, but still has 640,000 shares, or nearly 4% of the company. "The shares we
Read moreInternational oil and gas exploration and production company, PetroNeft Resources, announced proved reserves for economic development at its Kondrashevskoye site in Siberia. The firm also said its Lineynoye 206 site contained the thickest oil pay encountered to date. It added that its research sho
Read moreShares in Russia-focused oil and gas explorer PetroNeft Resources took a tumble on Tuesday as the update on operations at Licences 61 and 67 in the Tomsk Oblast region revealed mixed results. The Kondrashevskoye No. 2 delineation well in Licence 61 has been drilled and confirmed 2.3m of net pay in
Read moreRussia focused oil and gas explorer and producer PetroNeft Resources says that its 2P reserves have increased by 37%. The 2P reserve figure has risen to 96.9mmbbls, according to independent reserve auditors Ryder Scott. The figure includes the first estimate of proved and probable reserves at th
Read moreRussia-focused oil and gas group Petroneft Resources will miss the year-end target for crude output at Licence 61 in Tomsk Oblast. The group said that production growth was hit by "greater-than-expected formation damage" resulting from the drilling and completion process. From 9 of the 11 wells dr
Read moreAlfredo Villa, chief executive of Brainspark, has bought 2.1m shares £2.6m or 125p a share. Brainspark is an investment company with a primary portfolio in Italy encompassing interactive media, leisure, entertainment and financial services. As well as being the chief executivee of Brainspark, Vill
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