Weekly Oil and Gas Highlights, 7th September 2019

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

By Calum Muirhead

Hurricane Energy Plc (LON:HUR) said the Lancaster field’s early production system (EPS) has been operating “above guidance”.

The company said that between ‘first oil’, achieved 4 June, until last crude lifting on 17 August production averaged 14,400 barrels of oil per day (bopd). Some 1.2mln barrels of Lancaster crude has so far been sold, it added.

Cabot Energy plc (LON:CAB) updated on its financing arrangements as it entered into a term-sheet for a C$5mln loan.

Mosman Oil And Gas Ltd (LON:MSMN) told investors that it had identified several potential oil pay zones in the Stanley-3 well.

Echo Energy PLC (LON:ECHO) continued to make preparations for its upcoming exploration drill programme at the Tapi Aike project in Argentina.

The company continues to process captured 3D seismic data from Tapi Aike.

Rose Petroleum PLC (LON:ROSE) made a series of moves designed to create a “well-balanced, diversified and experienced board”.

Chairman Colin Harrington is moving to become chief executive, while independent director Rick Grant, appointed at the end of June, will step into Harrington’s role, but in a non-executive capacity.

Providence Resources PLC (LON:PVR) confirmed the mobilisation of a survey vessel at the Barryroe project off the coast of Ireland.

Columbus Energy Resources PLC (LON:CERP) was set up for a busy second half of 2019, according to chairman Leo Koot, who alongside interim results highlighted a number of upcoming exploration opportunities.

Oil sales totalled 92,154 barrels for the six month period, up 3.7% from the same period last year.

The group also told investors that work is continuing with partner Predator Oil & Gas to advance the enhanced oil recovery pilot project in the Inniss-Trinity area, in Trinidad.

Genel Energy PLC (LON:GENL) revealed that partner Chevron has inked a deal that envisages a 20,000 barrel per day crude processing facility at the Sarta field.

Tidal power specialist SIMEC Atlantis Energy Limited (LON:SAE) said its French joint-venture had been chosen to supply the entire electricity needs of Alderney, in the Channel Islands.

Aminex PLC (LON:AEX) announced the appointment of Robert Ambrose as a new non-executive director of the company with immediate effect.

By Calum Muirhead

Source www.proactiveinvestors.co.uk
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