PYX Resources: Achieving volume and diversification milestones. Watch the video here.
§ Assay results received for the remaining three metallurgical holes drilled, further to the initial five drill hole results reported in the Company's announcement of 28 October 2021, include (refer to Table One and Appendix Two for full details):
o 8.4m @ 4.89g/t PGM3E (4.90g/t PdEq) from 32.6m (PS383)
o 12.6m @ 2.58g/t PGM3E (2.81g/t PdEq) from 54.4m (PS385)
§ including 4.6m @ 5.42g/t PGM3E (5.34g/t PdEq) from 54.4m
o 13m @ 1.03g/t PGM3E (1.30g/t PdEq) from 43m (PS386)
#Energy Diplomacy, congratulations #Namibia on commencing offshore drilling works for oil extraction. We are proud of you our South West neighbor, may Africa arise @MTCNamibia @hagegeingob @TheNamibian
https://twitter.com/jcenergyexpert/status/1482964024719466496?s=21
Interesting
National Petroleum Corporation of Namibia
When you find oil in the country you do nice things
Watch the space DISCOVERIES
We’re here to help you start your week with a full tank of fuel and a coffee in hand
https://twitter.com/namcornamibia/status/1482608561339392000?s=21
Merlin-2 Operations Update
Highlights
· Merlin-2 Permit to Drill in the final stages of review by the Bureau of Land Management (BLM)
· Snow road construction commenced ahead of Merlin-2 drilling
· Commissioning of the Arctic Fox rig commenced
· Spud of Merlin-2 remains on track for February 2022
Summary
· Results for Year 4, Phase 2 RC drilling at Faré confirms mineralisation is open to the northeast at all three of the main anomalies. Best intersections were returned from the Faré South and Faré Far South anomalies and include:
Faré Far South:
o 1.00m grading 6.08 g/t Au from 12.00m (FARC21-0135)
o 5.00m grading 12.45 g/t Au from 92.00m including 2.00m grading 26.61 g/t Au (FARC21-0136)
o 12.00m grading 0.67 g/t Au from 104.00m including 2.00m grading 1.18 g/t Au and 2.00m grading 1.15 g/t Au (FARC21-0137)
Faré South:
o 1.00m grading 5.90 g/t Au from 84.00m (FARC21-0128)
o 1.00m grading 2.29 g/t Au from 57.00m (FARC21-0129)
Trading Update
· Operations
o Production for the final three months of 2021 averaged 10,000 bopd, within guidance
o Production and oil sales for the year ended 31 December 2021:
§ Production: 3.7 MMbbls (average of 10,267 bopd)
§ Oil sales: 3.6 MMbbls across seven cargoes
o Aoka Mizu FPSO uptime of 99% during 2021
· Key financials for the year ended 31 December 2021:
o Revenue: $239 million (2020: $180 million)
o Average realised oil price: $67/bbl (2020: $35/bbl)
o Year-end total debt: $78.5 million following repurchase of $151.5 million of outstanding Convertible Bonds for cancellation during H2 2021
o Year-end net free cash(1): $50 million
o Year-end net debt(2): $28.5 million
ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, provides an update on the legal proceedings in respect of its interest in the Barracuda oil field.
As previously announced on 13 December 2021, the Company and K.O.N.H. (UK) Ltd ("KONH") obtained an interim injunction at the Federal High Court of Nigeria, Lagos ("Court") restraining Noble Hill-Network Limited ("NHNL"), its officers, agents, privies or person howsoever connected from selling, disposing, divesting or tampering with the 70% shareholding interest of KONH in NHNL to third-party investors or in any other manner whatsoever.
The Company has been advised that the Court has adjourned this matter until 1 March 2022. The interim injunction continues to stand in the meantime and a further update will be made in due course.
During H2 2021, the Company produced 268.8 metric tonnes ("MT") of crystalline iodine from its five operating IOsorb® plants in Oklahoma, meeting its production target of 260-275MT for the half year. The production figure for the year totalled 518.2MT. IOsorb® plant efficiencies remain strong, however as stated in our 2021 interim report, two plants continue to receive lower brine volumes compared to pre-pandemic levels, due to less reinvestment by our partner in their oil operations. Iofina is aware of future increased spending on oil production wells by our partner as oil prices continue to be robust. The Company has a forecasted production figure of 225-240MT for H1 2022
Committee Changes
Cineworld Group plc is pleased to announce that a new Environmental Committee of the Board has been established, with effect from 13 January 2022.
The Environmental Committee will be chaired by independent Non-Executive Director, Ashley Steel. Renana Teperberg (Chief Commercial Officer) and Camela Galano (independent Non-Executive Director) will also be members of the Committee.
The aim of the Environmental Committee is to provide oversight, on behalf of the Board, in relation to the Group's environmental strategy and activities, which will include overseeing the Company's environmental reporting and disclosures.
Camela Galano stepped down as a member of the Company's Audit Committee at the same time as joining the Environmental Committee.
The table below lists the Directors who are members of each of the Company's Board Committees.
In addition, a new sub-Board Committee has been established to further support the Audit Committee in the area of Risk, with effect from 13 January 2022. Damian Sanders, independent Non-Executive Director, will chair the Committee, other members of which include Nisan Cohen, CFO, and the Group's Head of Risk and Assurance
Adam Davidson, Chief Executive Officer of Trident commented:
"It is pleasing to note that deliveries to Trident under the contracts have now commenced, with this delivery being the first of multiple deliveries and regular sales expected to occur on a weekly basis going forward.
"The acquisition of the Portfolio provides Trident with immediate revenue, underpinned by a portfolio of high-quality producing gold projects which significantly enhance the scale and diversification of Trident's revenue base. Trident is well positioned for future growth with nine cash flowing assets complementing our portfolio of advanced and development stage royalties, most notably the Thacker Pass lithium royalty. The combination of increased cashflow and our newly established debt facility, provide Trident with ample access to capital to pursue additional accretive transactions without the near-term requirement to access equity markets."
After today’s new fancy Global Petroleum turn into multiples of current value of £5m
4 large Italian Oil and Gas blocks
2.9 Billion barrel potential in Namibia
Funded with plenty of cash
Farm in discussion ongoing
Financial
-- Two successful equity raises in the year totaling GBP2.4 million strengthened finances and positioned Global to continue exploration activities in Namibia
-- Cash balance at period end US$1,834,434 (30 June 2020: US$932,818), increasing to US$2,682,940 at end September 2021 following further GBP1.0 million equity raise in August
Updated best estimate of Prospective Resources on PEL0094 showing threefold increase to 2,284 million barrels of oil net to Global
-- Farm-out process for PEL0094 initiated and ongoing
-- Commenced remaining year of PEL0094 Initial Exploration Period, expiring in September 2022
Strategy and Outlook
The Company remains committed to offshore Namibia, where work will continue in seeking a farm-out partner to fund future exploration drilling operations on PEL0094. The upcoming drilling in the Orange Basin by oil majors Total and Shell, expected to commence in Q4 this year
In addition, as previously announced, the Company will continue to explore all strategic alternatives in order to maximise shareholder value.
Q4 2021 Argentinian Production Update
During Q4 2021 daily operations in the field at Santa Cruz Sur continued with the delivery of produced gas and liquids to key industrial customers and total 2021 cumulative production from Santa Cruz Sur net to Echo's 70% interest reached an aggregate of 567,370 boe (including 2,920 MMscf of gas).
During Q4 2021, net liquids production averaged 240 bopd whilst net gas production averaged 7.0 MMscf/d. These production levels have been achieved despite a province-wide strike that temporarily reduced production levels over a six-day period in mid-December. Production for the first eight days of 2022 has been strong, with liquids production net to Echo averaging 262 bopd and net gas production averaging 8.3 MMscf/d.
As previously announced, the successful implementation of the Company's strategy with the commercial focus on high-quality blends at Santa Cruz Sur, has continued to lead to an increased frequency of liquids sales throughout Q4 2021. Total liquids sales net to Echo over Q4 2021 reached 25,881 bbls which is an increase of 71% over the previous quarter (Q3 2021: 15,050 bbls).
Highlights
· Continuity of exceptional grades and thicknesses confirms significant Gold-Silver discovery at BKZ
· Gold-Silver deposit immediately downdip of high-grade Cu-Ag and Zn-Pb-Ag-Cu-Au polymetallic mineralisation - open to the east and south of current BKZ Resource
· All BKZ mineralisation to date is shallow and high value - likely captured in single large open pit
· Emerging VHMS district - 10sqkm strong multi-element soils - potential for multiple deposits
Assays received from drill results:
Hole BKZ33600-10
99.4 metres @ 2.42g/t Au, 542g/t Ag, 5.02% Pb, 0.24% Cu from 82.5 metres
· Including 30 metres @ 6.3g/t Au, 1,188g/t Ag, 13.5% Pb, 0.14% Cu from 121.5 metres and 4 metres @ 2.65% Cu from 99.5 metres
Hole BKZ33700-09
51.5 metres @ 0.89g/t Au, 70.3 g/t Ag, 0.27% Pb from 235.5 metres downhole
· Including 26 metres @ 1.07g/t Au, 58g/t Ag 0.2% Pb from 235.5 metres
18.5 metres @ 1.45% Zn, 0.75% Pb, 0.14% Cu, 44.6g/t Ag from 202 metres
Highlights:
· Nickel is now the main metal in Eurasia's basket of metals (on a Net Smelter Royalty basis) following the JORC Mineral Resource Estimate produced by Wardell Armstrong International at NKT. Work is being finalised on the high-grade veins part and the open pit part of NKT, as well as on the assaying to upgrade the resource to be separately announced in due course (please refer to RNS dated 16 December 2021).
· Kola Nickel LLC was incorporated as Eurasia's 100% beneficially owned subsidiary in order to carve out all the nickel assets of Eurasia into one subsidiary company.
· Similar to NKT, Nyud's main metal is also nickel. Nyud is included in the agreement with Rosgeo (for more information on Nyud please refer the last bullet point below and RNS of 26 August 2021).
· Wardell Armstrong International was engaged by Eurasia to produce JORC Mineral Resource Estimate at Nyud, as well as a CPR and net present value model. The results of this engagement is almost complete and will be announced separately.
· Like NKT, Nyud is a nickel open pit mine previously operated by Norilsk Nickel. A trial open pit was developed at Nyud by Norilsk Nickel and nickel dominant ore was shipped directly to Severonickel, the world's largest nickel processing plant. Similar to NKT, the Nyud area is well served with the infrastructure required for the relaunch of mining and processing and the tailings will be used as backfill for the old NKT mine developed in the past, following the best practices in ESG and saving on the tailings storage facility capital expenditure
Global Petroleum Ltd - oil & gas exploration in Africa and the Mediterranean - Announces that the European Court has found that its four permit applications offshore Italy in the Southern Adriatic do not contravene EU law
https://www.lse.co.uk/news/in-brief-global-petroleum-gets-positive-court-decision-for-permits--wy7a6wfyvxgz4p6.html
Over the course of the past year, the Board has reviewed a number of prospective areas within and around the central and southern areas of the Italian Adriatic Sea resulting in the grading of available acreage. The southern Adriatic offshore area has significant potential for oil and condensate generated from both Liassic and Triassic source rocks. The prospectivity of the area is further proven by the presence of the basinal Aquila discovery which tested 3,300 barrels of oil per day of 36° API oil from Cretaceous carbonates, and by several other discoveries surrounding the basin including Rovesti and JJ-3.