Heritage Oil (LON:HOIL) shares jumped around 10 percent amid reports of a 425 pence a share takeover bid for the company. An Abu Dhabi based group made the informal approach in a letter to Heritage’s management, according to the Financial Times.
Salamander Energy (LON:SMDR) has decided to drill deeper in the Dao Ruang-2 well in Thailand, as it encountered strong gas shows at the current target depth, 1,915 metres.
Gulf Keystone (LON:GKP) on Friday reported significant initial oil flow from its Shaikan-2 appraisal well in Kurdistan which it says confirms the “world class nature of the discovery”. It has hit a 44 metre interval in the Jurassic formation between 1,792 and 1,836 metres.
Bowleven (LON:BLVN) has spudded the Sapele-2 well in the Douala Basin offshore Cameroon. The well’s principal objective is to appraise the Omicron discoveries found in the Sapele-1 exploration well.
Xcite Energy (LON:XEL, CVE:XEL) has extended its Standby Equity Distribution Agreement (SEDA) by £40 million to £100 million. The SEDA was initially set up with Yorkville Partners’ YA Global Master fund back in September 2010, and it has since been extended on a number of occasions.
Wessex Exploration (LON:WX.P) plans to raise £3 million alongside its admission to AIM. The micro-cap oil explorer is set to join the AIM market on 23 March. It will issue 100 million new shares at 3 pence. The placing is conditional upon the AIM listing. Previously Wessex raised £1.875 million in an oversubscribed placing back in November.
Ascent Resources (LON:AST) announced that managing director Jeremy Eng upped his shareholding and finance director Scott Richardson Brown has acquired a small stake in the company.
Leni Gas & Oil (LON:LGO) said it will start the 2011 Spanish work programmes imminently. It has plans to work-over wells on both the Ayoluengo and Hontomin fields, as well as testing nitrogen-based enhanced oil recovery techniques later this year.
Range Resources (LON:RRL, ASX:RRS) reflected on its operational progress made during 2010, which saw its share price more than double and then triple post-period.
Ascent Resources (LON:AST) said it has raised £17 million before expenses via a firm placing of 100 million new shares and a conditional placing of a further 240 new shares at a price of 5 pence per share, arranged by finnCap.
Growing oil exploration company Simba Energy (CVE:SMB) revealed this week it is making solid progress with production sharing agreements in Liberia, Ghana and Mali. The news marks another key stage in Simba’s development as an oil explorer with some exciting targets in West Africa. This is also reflected in the largely institutional following of the company, with retail investors exiting as it has changed its focus from mining.
Petroceltic International (LON:PCI) has given ENI (NYSE:E) operatorship of the Carisio exploration permit in Italy’s Po Valley. In return ENI will give Petroceltic 550 kilometres of existing 2D seismic data on the Ronsecco permit as well as access to reprocessed 2D seismic data and other technical studies on Carisio. Petroceltic and ENI each have a 47.5 percent stake in Carisio.
Aminex (LON:AEX) told investors that it has signed up a rig to drill the Nyuni-2 well in Tanzania. In 2004 Nyuni-1 encountered gas in shallower Albian-Aptian sands, and it was suspended. Now Nyuni-2 will be drilled from the same site, but it will be deviated to the south-east to test a large Neocomian-age gas prospect.
Bahamas Petroleum (LON:BPC) has raised £45.6 million via a share placing to accelerate its exploration programme. The company also said that the funds will also provide financial flexibility to develop additional leads in awarded licences and to progress on-going licence applications.
Sound Oil (LON:SOU) has secured a drilling rig for the Marciano-1ST well completion operation in Italy, which is expected to commence in April.
Range Resources (LON:RRL, ASX:RRS) said mud logging results from the Ross 3H #1 well at the East Texas Cotton Valley project have been “encouraging thus far”. It said there have been oil shows over an interval of more than 400 feet, including crude in the mud pits while drilling.
Falkland Oil and Gas (LON:FOGL) said it is in advanced negotiations, alongside BHP Biliton (LON:BLT, ASX:BHP), to secure a deep-water rig so the partners can drill the large targets that have been identified in the South Falkland basin. Securing the rig is currently key focus of the company, as well as its surveying activity across its acreage in the South Atlantic.
President Petroleum Co PLC (LON:PPC) said it has strengthened its management team by making two new appointments and is setting up a holding company for future acquisitions.
Providence Resources (LON:PVR) told investors that Chrysaor has agreed to fund a two well programme in the Spanish Point prospect off the West coast of Ireland.
Salamander Energy (LON:SMDR) has decided to drill deeper in the Dao Ruang-2 well in Thailand, as it encountered strong gas shows at the current target depth, 1,915 metres.
Gulf Keystone (LON:GKP) on Friday reported significant initial oil flow from its Shaikan-2 appraisal well in Kurdistan which it says confirms the “world class nature of the discovery”. It has hit a 44 metre interval in the Jurassic formation between 1,792 and 1,836 metres.
Bowleven (LON:BLVN) has spudded the Sapele-2 well in the Douala Basin offshore Cameroon. The well’s principal objective is to appraise the Omicron discoveries found in the Sapele-1 exploration well.
Xcite Energy (LON:XEL, CVE:XEL) has extended its Standby Equity Distribution Agreement (SEDA) by £40 million to £100 million. The SEDA was initially set up with Yorkville Partners’ YA Global Master fund back in September 2010, and it has since been extended on a number of occasions.
Wessex Exploration (LON:WX.P) plans to raise £3 million alongside its admission to AIM. The micro-cap oil explorer is set to join the AIM market on 23 March. It will issue 100 million new shares at 3 pence. The placing is conditional upon the AIM listing. Previously Wessex raised £1.875 million in an oversubscribed placing back in November.
Ascent Resources (LON:AST) announced that managing director Jeremy Eng upped his shareholding and finance director Scott Richardson Brown has acquired a small stake in the company.
Leni Gas & Oil (LON:LGO) said it will start the 2011 Spanish work programmes imminently. It has plans to work-over wells on both the Ayoluengo and Hontomin fields, as well as testing nitrogen-based enhanced oil recovery techniques later this year.
Range Resources (LON:RRL, ASX:RRS) reflected on its operational progress made during 2010, which saw its share price more than double and then triple post-period.
Ascent Resources (LON:AST) said it has raised £17 million before expenses via a firm placing of 100 million new shares and a conditional placing of a further 240 new shares at a price of 5 pence per share, arranged by finnCap.
Growing oil exploration company Simba Energy (CVE:SMB) revealed this week it is making solid progress with production sharing agreements in Liberia, Ghana and Mali. The news marks another key stage in Simba’s development as an oil explorer with some exciting targets in West Africa. This is also reflected in the largely institutional following of the company, with retail investors exiting as it has changed its focus from mining.
Petroceltic International (LON:PCI) has given ENI (NYSE:E) operatorship of the Carisio exploration permit in Italy’s Po Valley. In return ENI will give Petroceltic 550 kilometres of existing 2D seismic data on the Ronsecco permit as well as access to reprocessed 2D seismic data and other technical studies on Carisio. Petroceltic and ENI each have a 47.5 percent stake in Carisio.
Aminex (LON:AEX) told investors that it has signed up a rig to drill the Nyuni-2 well in Tanzania. In 2004 Nyuni-1 encountered gas in shallower Albian-Aptian sands, and it was suspended. Now Nyuni-2 will be drilled from the same site, but it will be deviated to the south-east to test a large Neocomian-age gas prospect.
Bahamas Petroleum (LON:BPC) has raised £45.6 million via a share placing to accelerate its exploration programme. The company also said that the funds will also provide financial flexibility to develop additional leads in awarded licences and to progress on-going licence applications.
Sound Oil (LON:SOU) has secured a drilling rig for the Marciano-1ST well completion operation in Italy, which is expected to commence in April.
Range Resources (LON:RRL, ASX:RRS) said mud logging results from the Ross 3H #1 well at the East Texas Cotton Valley project have been “encouraging thus far”. It said there have been oil shows over an interval of more than 400 feet, including crude in the mud pits while drilling.
Falkland Oil and Gas (LON:FOGL) said it is in advanced negotiations, alongside BHP Biliton (LON:BLT, ASX:BHP), to secure a deep-water rig so the partners can drill the large targets that have been identified in the South Falkland basin. Securing the rig is currently key focus of the company, as well as its surveying activity across its acreage in the South Atlantic.
President Petroleum Co PLC (LON:PPC) said it has strengthened its management team by making two new appointments and is setting up a holding company for future acquisitions.
Providence Resources (LON:PVR) told investors that Chrysaor has agreed to fund a two well programme in the Spanish Point prospect off the West coast of Ireland.
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