A glance back at some of the top stories this week from London small-cap oil and gas stocks.
The Irish oil company, in a statement, said that it had completed the work – surveying for seabed debris clearance, environmental baseline as well as habitat assessment – for proposed well locations A and B.
Eco Atlantic Oil & Gas Ltd (LON:ECO, CVE:EOG) confirmed back-to-back exploration successes offshore Guyana as the Joe-1 well struck oil.
The well was drilled down to 4,665 feet and encountered some 135 feet of net heavy oil pay across the Asl Formation.
Chariot Oil & Gas Limited (LON:CHAR) revealed results from a new third-party assessment of the recently acquired Lixus project area offshore Morocco.
Five additional exploration prospects present more than 1.2trn cubic feet (TCF) of upside potential, according to independent consultant Netherland Sewell & Associates Inc.
Azerbaijan-focused oil explorer Zenith Energy (LON:ZEN) (CVE:ZEE) further reduced its short-term borrowings as it shifted its funding requirements towards longer-dated bonds.
The North Sea explorer, in a statement, told investors that following the completion of paperwork it has now been awarded formally awarded the Greater Buchan Area (GBA) which comprises three licences – referred to by JOG as Zermatt, Buchan, and Glenn.
Hurricane Energy Plc (LON:HUR) reported its half yearly results, the company’s first set of financials to include revenue.
The firm generated some US$22.5mln from its first crude oil lifting (the only one in the first half) and it also banked a US$6.2mln tax refund, related to R&D tax credits.
The company reported a US$1.2mln operating profit, reversing a US$4.7mln loss in the comparative period in 2018.
It holds 15% interests in a total of seven newly awarded blocks in the Inner Moray Firth area of the UK continental shelf.
I3 Energy PLC (LON:I3E) said that the permit application to drill the Serenity SA-01 well in the North Sea is well underway.
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