Oil and Gas

Kea Petroleum plc (LSE:KEA) is now about to become a commercial oil and gas producer, according to the New Zealand-focussed explorer. The director made the statement following the results of the production testing made at the Puka-1 well in onshore New Zealand. Oil and gas flowed at a controlled rate of 290 barrels per day […]

JKX Oil & Gas plc (LSE:JKX) will not release an interim dividend for its shareholders, the company said today. The decision came alongside results for the January to June 2012 period, reflecting a drop in revenue and operating profit brought about by the fall on production in its Ukraine and Hungary assets and delays from […]

Over the last five days BP has announced either agreements for the sale or the consummation of sales of significant portions of its business.  By divesting of these units, cash is flowing into the company coffers to ensure that it can keep its commitments to pay some $20 billion in claims arising out of the […]

Edge Resources Inc. (LSE:EDG) has just turned a zero-value asset into a new oil field. In a statement released today, Edge said it discovered a new pool to the east of its Primate project in Saskatchewan, Canada after drilling two wells that gave at least 12 metres of formation sands each, enough to merit 3D […]

Russia-focussed oil and gas producer PetroNeft Resources (LSE:PTR)  has commenced drilling the first of the ten-well development programme  at its Arbuzovskoye oil field and expects to put them into production by next month, September, the company announced today. The plan has been in place since it was approved last November 2011 and Petroneft has stated […]

US-focussed explorer Caza Oil & Gas Inc. (LSE:CAZA) said revenue for the second quarter increased, as production improved by new wells brought into operation, despite a drop in the price of oil. In a statement released today, Caza reported over US$1 million revenue, about a third more for the same period a year ago, total […]

I have never tipped – or that I can remember – written about AIM listed oil and gas company Sefton Resources (LSE:SER) and nor have I bought any stock in this penny share hopeful. The history of companies seeking to explore or produce hydrocarbons in the US but listing on Aim is so dire that […]

Petroceltic International plc (LSE:PCI) said today, it is now ready to provide the Algerian Government all the necessary documents to support its bid for a 30-year exploitation permit for the Ain Tsila field in Algeria. In a statement, Petroceltic said the parties to the Isarene Production Sharing Contract, has agreed to a Formal Declaration of […]

The company shares of Falkland Oil and Gas (LSE:FOGL) are showing strong determination to keep going up. The long-term trend on the company price chart has been bullish; despite the turbulent past. The price has become inebriated by incessant bullish pressure. A potentially new phase of the dominant trend has been identified and would be […]

Max Petroleum plc (LSE:MXP) has found a white knight to fund its already over-budgeted exploration programme in Kazakhstan, thanks to one of the company’s driller, Zhandros Drilling LLP, who agreed to carry on exploration activities for the company in exchange for nearly 10% of the oil and gas explorer’s current issued capital. In a statement […]