Weekly Oil and Gas Highlights, 31st August 2019

A look back at some of the interesting news stories from London’s junior oilers.

By Oliver Haill

Union Jack Oil PLC (LON:UJO) told investors that the partners in the West Newton project now believe it is a “significant oil and gas discovery”, deemed more significant than simply a ‘pure gas discovery’ as was previously perceived.

Cadogan Petroleum PLC’s (LON:CAD) half yearly results highlighted a 27% increase in oil production compared to the first half of last year.

Acquisitive Diversified Gas & Oil PLC (LON:DGOC) has unveiled new deals to acquire additional assets for US$7.5mln.

Eco Atlantic Oil & Gas Ltd (LON:ECO, CVE:EOG) has kicked off the Joe-1 exploration well in the Orinduik block offshore Guyana.

Tlou Energy Limited (LON:TLOU) has hailed a “highly active” year as it delivered its results following its selection as a preferred bidder to develop a coal bed methane (CBM) power plant in Botswana.

Block Energy PLC (LON:BLOE) told investors that the ZJ40 drilling rig is now being mobilised to the 38Z well site at its flagship West Rustavi field.

Falcon Oil & Gas Ltd (LON:FOG) (CVE:FO) has highlighted a ‘strong financial position’ as the company and its investors look forward to a new programme of drilling at the Beetaloo shale project in Australia.

Tower Resources PLC (LON:TRP) has switched rig contracts for the scheduled drilling work on the Thali block in Cameroon.

Diversified Gas & Oil PLC (LON:DGOC) is to acquire Ohio-based gas production and exploration assets from EdgeMarc Energy Holdingsfollowing approval by the US bankruptcy court.

Providence Resources PLC (LON:PVR) has confirmed a further extension of the backstop date for the payment due from Chinese farm-out partner APEC, and, has also now paid a contracted mobilisation fee for an upcoming well site survey for Barryroe.

US Oil & Gas Plc (USOP) has issued a statement revealing it has raised US$382,482 for working capital.

EQTEC PLC (LON:EQT) has announced the appointment of David Palumbo and Yoel Alemán Méndez who join as executive directors with immediate effect.

By Oliver Haill

Source www.proactiveinvestors.co.uk

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