Oil and Gas

It’s payday today at Solo Oil plc (LSE:SOLO), following an independent technical evaluation saying there is about 5.75 trillion cubic feet of unrisked gas-initially-in-place (GIIP) “for identified leads, prospects and discoveries” in the company’s 12,000-square kilometre acreage within the Rovuma Basin, now an established oil and gas resource in the territories of Tanzania and Mozambique...

Shares of Kazakhstan-focussed oil and gas exploration and production company Max Petroleum plc (LSE:MXP) crashed with more than half their value lost in London trading, after the company said its delayed-stricken drilling operation may cost them a total of US$43 million to complete, draining the company’s cash position. The NUR-1 well, spudded in November 2011 […]

Lamprell (LSE:LAM) seemed to regain some shareholder confidence this morning as its share price gained nearly 13% to 89.20 pence on the London Stock Exchange.  The stock has been languishing since 16 May 2012 when it dropped 167.00 pence following a profit warning issued by Lamprell. The Big Picture In the May 16th announcement the company […]

Independent oil explorer and producer Nautical Petroleum plc (LSE:NPE) topped the London trading board early Wednesday, following an offer made by Cairn Energy plc to acquire the company for £414 million. Shares of Nautical Petroleum jumped by more than half its value on 12th June 2012 to £4.62 a share by 9:00 GMT, 12 pence […]

Newly listed oil and gas exploration company Fastnet Oil & Gas plc (LSE:FAST) has secured licencing options to explore nine blocks in the North and South Celtic Sea off of Ireland, which may hold more than two billion barrels of oil in aggregate, the company released in a statement. Ireland’s Department of Communications, Energy, and […]

Oil and gas exploration and development company Independence Energy Corp. (OTC:IDNG) has taken yet another step towards building a long-term pipeline of new projects by executing a definitive agreement for acquisition of up to 25% working interest in Coleman South Lease exploration joint development project in Coleman County, Texas. With the latest agreement, IDNG is […]

How steep is a 61% slope? The chart for Thalassa Holdings (LSE:THAL) shows you how steep a slope it is, following the announcement this morning of a new joint venture and the release of a related trading update, as the share price had soared by 18.00p to 47.50p by early afternoon. The Joint Venture Thalassa has entered […]

Gold and copper explorer Triple Plate Junction plc (LSE:TPJ) disclosed Monday that their partner Newmont Ventures Limited decided to suspend drilling operations at the Morobe project in Papua New Guinea for six months, following a failure in discovering any significant deposit from its second exploration target. Gumots, one of the 15 prospective drill targets in […]

Range Resources Limited (LSE:RRL) has commenced preparations for the sale of its interest North Chapman Ranch Project in Texas, United States, following a reclassification that saw an increase in proven and probable reserves of the hydrocarbon acreage. The Australia-incorporated oil and gas exploration and production company hopes to dispose its 20%-25% interest in the North Chapman Ranch...

Oil and gas explorer and producer Ithaca Energy (LSE:IAE) announced Monday, the “successful” commencement of oil production from the Athena Field in the UK Continental Shelf, welcomed by its joint venture partners, Trap Oil Group (LSE:TRAP) and Lochard Energy Group (LSE:LHD). “The initial operations phase of the field is in line with management’s expectations and […]