Oil and Gas

Ophir Energy (LSE:OPHR) did it again. The FTSE 250 constituent has drilled another gas discovery giving the company confidence it will be able to export liquified natural gas (LNG) from its assets in Equatorial Gunea, east of Africa. Ophir’s Chief Executive, Nick Cooper, issued the statement himself, following the 1 trillion cubic feet (tcf) of […]

AIM listed oil darling Falklands Oil & Gas (LSE:FOGL) has announced the results of its Loligo well and it is bad news for both the company and for others operating in the region such as Borders & Southern (BOR). Reaction from BB and penny share punters has been mixed – some are in love and […]

With a market cap of £7.79 million as of 31 August 2012, Resaca Exploitation (LSE:RSOX) is a small company, but it has got big problems.  A drop in its share price today of 43.84% has reduced its value to £4.25 million.  Shares closed yesterday at 36.50, but plunged to 20.50 by midday today. Small Company […]

I have noted before the curious way that AIM listed penny share dreadful Sefton Resources (LSE:SER) communicates with its investors. Having advised you to bail at 2p initially I reiterated my sell advice a couple of days ago with the shares at 1.58p after the company issued piss poor interims. But my confusion with the […]

Gulf Keystone (LSE:GKP) understands the art of writing a half year operational and financial report.  You can’t play with the numbers, but you can be creative with the way you present them.  Sometimes it works.  Sometimes it doesn’t.  Whether it eased the pain according to the company’s expectations or not is hard to tell.  It […]

President Petroleum Company plc (LSE:PPC) has entered the oil industry in Paraguay through a farm-in agreement in two licences that the firm says will transform the company into a middle-sized oil and gas company. In a statement today, the company announced it signed a deal that would earn the company up to 59% and 60% […]

Oil producer Sefton Resources (LSE:SER) today announced its half year results which were – as is normally the case with this AIM listed penny share dreadful, pretty piss poor. A marginal increase in production and in the oil price meant that revenues for the six months to June 30th increased from $2.028 million to $2.283 […]

Speculation has been running rampant for the last several days that BP (LSE:BP.) was about to divest yet another enterprise in the Gulf of Mexico.  The official announcement came just minutes before noon today London time.  BP shares had risen from 434.00 at the opening bell to 441.00 at noon. BP Strategy Stays on Course […]

Chariot has announced that its southern block Kabeljou well was a duster. On the back of this the stock has fallen 60% plus reliving its Tapir failure of May this year. Although this is the second of a 4-5 well drilling program in their three Namibian blocks, the score now stands Africa 2 – Chariot […]

Northern Petroleum plc (LSE:NOP) plugged and abandoned its exploration well in Italy after gas shows proved to be insufficient as to merit commercial production and also hinted shareholders need not panic. In a statement issued today, the AIM-quoted oil and gas explorer said the La Tosca-1 well, drilled at a depth of 2,335 metres in […]