Share Talk Weekly Energy Sector News – 18th July 2021

An eventful week in the energy sector, let’s take a look at some of the announcements made.

Helium One Global Ltd (LON:HE1) has confirmed the presence of another helium gas in the Tai-1 well, which was sidetracked by a program error in Tanzania.

Gas samples were discovered above the main target zone of the well and were observed at depths between 552 and 561 meters. They were visually observed as bubbles in the drilling fluid at surface.

88 Energy Ltd (LON:88E, ASX:88E, OTC:EEENF) has informed investors that new geochemical analyses of core samples from the Merlin-1 well have again shown the presence of hydrocarbons.

The results of the second phase of the sidewall core analysis are expected in the coming weeks, the company added. In addition, the results of the volatile analysis service (VAS) and gas analysis are awaited.

San Leon Energy PLC (LON:SLE) has noted Decklar Resources Inc.’s announcement regarding the Oza field in Nigeria.

According to Decklar, the drilling rig and associated equipment at the Oza-1 well site have been installed, tested and inspected and the existing piping is being removed from the well.

i3 Energy Plc (LON:i3E) has completed drilling the first two Marten Hills Clearwater wells in Canada and expects to bring both wells on stream this month.

The company completed a second well targeting the Clearwater C zone and successfully drilled eight lateral intercepts that penetrated the formation. The well was completed on time and on budget, the company added.

88 Energy Ltd (LON:88E) has confirmed that it has completed the acquisition of a 100% interest in the Peregrine project in Alaska.

The company issued a total of 633.4 million shares to the seller, which 88 Energy said was about 190 million shares less than previously planned, with several tranches reduced by the agreed final settlement mechanisms.

Pantheon Resources PLC (LON:PANR) expects to increase resources at a section of the Talitha project in Alaska by more than 50%.

An internal analysis of the SMD-B sequence encountered in the Talitha #A well resulted in a new estimate of 2.6 billion barrels of oil in place and a mean recoverable contingent resource (P50) of 404 million barrels.

Challenger Energy Group PLC (LON:CEG) has stated that logging and analysis has confirmed the presence of approximately 300 feet of net oil sand reservoir in the Saffron-2 well in Trinidad, and that it is now preparing to conduct production testing later this month.

Logging identified approximately 1,400 ft of raw sand in the upper, middle and lower Cruse formations. In the main formation of interest, the lower Cruse, the well encountered 63 ft of purely oil-bearing reservoir sand with a potential for an additional 70 ft.

Block Energy PLC (LON:BLOE) described the second quarter as another positive period, both financially and operationally.

“At the end of the quarter, we achieved our primary objective with the drilling of the WR-B1 well, which, after extensive planning and dedicated teamwork, will result in significant production growth in Georgia,” said CEO Paul Heywood.

Zephyr Energy PLC (LON:ZPHR) has announced the start of drilling of the State 16-2LN-CC appraisal well, several weeks ahead of schedule.

Coro Energy PLC (LON:CORO) has entered into an agreement to acquire a portfolio of planned rooftop solar projects in Vietnam.

A portfolio of 150 megawatts of generation capacity will be purchased from Vinh Phuc Energy (VPE), and the operation will start with a low-cost entry, beginning with a 5 MW pilot project.

Mosman Oil and Gas Limited (LON:MSMN) has increased its interest in the Winters lease in Polk Country, East Texas.

The oil and gas group has acquired a 23% interest in the Winters site concession as part of its recent acquisition of operator Nadsoilco.

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