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

Article originally published by proactive investors. Share Talk is not responsible for its content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.


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