PYX Resources: Achieving volume and diversification milestones. Watch the video here.
OML 113 Aje field: YFP (Operator), Panoro Energy (12.1913% entitlement to revenue stream, 16.255% paying interest and 6.5% participating interest) Production at the Aje field in OML 113 is steady averaging around 400 barrels of oil per day net to Panoro. The field produced an average of 285 barrels of oil per day net to Panoro during the quarter, and this compares to 403 barrels of oil per day net in Q3 2017. The average rate was affected by two operational shut-ins during the quarter. Production from the Aje field continued from the Aje-4 and Aje-5 wells, with the Aje-4 well producing from the Cenomanian oil reservoir and the Aje-5 well producing from the oil rim of the Turonian reservoir. A lifting from the field was completed in November and a further lifting is anticipated in March 2018. A Field Development Plan describing the development of the Turonian reservoir has been submitted to the Nigerian regulators for consideration. In parallel, the process for the renewal of the OML 113 lease in June 2018 has commenced. Panoro is in the process of updating its independent reserves report for Aje with AGR TRACS International. This update will include results of the Aje-5 workover and side-track drilling campaign in the Cenomanian reservoir, the subsequent completion of the Aje-5 side-track in the Turonian oil rim, and the production history from the field to date. Details of the updated report will be made available in the second quarter of 2018.
Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to announce that it has signed an agreement with shoemaker Vivobarefoot Ltd ("Vivobarefoot"), to collaborate on developing a range of footwear that incorporates graphene into existing resins and fibres in order to enhance material performance. Vivobarefoot, headquartered in the UK, manufactures and sells a full range of innovative, "minimalist", shoes from hiking and running shoes, to those for everyday use. Vivobarefoot is the world's leading maker of minimalist shoes and is majority owned and run by Galahad and Asher Clark, with a leading Taiwanese shoe manufacturer, Stella International, owning a minority stake. Utilising Versarien's proprietary Nanene few layer graphene nano-platelets, the collaboration will involve the incorporation of graphene into existing resins and fibres, with the aim of enhancing puncture resistance and improving mechanical strength, wear resistance and thermal conductivity. Asher Clark, Vivobarefoot Design Director, commented: "To innovate at Vivobarefoot is to put as little shoe as possible between your feet and the ground. We are very excited to partner with Versarian in order to take that goal to a new level and redefine some extraordinary new benchmarks in performance, durability and sustainability in modern shoemaking." Neill Ricketts, CEO of Versarien, commented: "We are delighted to have signed our latest collaboration and we look forward to working with Vivobarefoot to enhance their already innovative ranges of footwear. "It is very pleasing to be working with companies such as Vivobarefoot to get new and innovative graphene enhanced products to market. The signing of this collaboration further illustrates the wide-ranging applications for our high quality graphene. We have now entered into formal collaborations covering areas as diverse as aerospace, clothing, packaging and medical technology and we continue to see considerable interest globally from other groups wishing to work with Versarien. "Using both new and existing ways of exploiting the properties of graphene in various materials is enabling us to simultaneously work in multiple verticals, with minimum impact to other projects, maximising and de-risking the potential commercial opportunity."
Wow great find and even better there could be more oil there at reduced operational cost CPR update in progress with AGR TRACS, expected during March 2018. • Production performance of Aje-5 since May 2017 now indicates a significantly greater Turonian oil rim potential. • The Joint Venture is now progressing an expanded development plan to address a combined Turonian oil and gas development project. • A phased development is envisaged with an initial horizontal well development of the oil rim significantly boosting oil production rates, followed by the full oil and gas project.
Sales 3,818,650 Buys 58,099,338 Could be an interesting few days - No DEBT - In Profit and income producing - 40% owned by Chinese - CEO brought �100K shares at 1p - Gas CPR due March - Panoro Q3 accounts due 28th Feb (news of oil liftings)