Weekly Oil and Gas Highlights, 9th November 2019

A look back at some of the top news from London’s small-cap energy companies.

By Giulia Bottaro

i3 Energy PLC (LON:I3E) shares flowed higher on Friday as the firm spudded a new well at its Liberator field in the North Sea. The oiler said the Liberator A2 well had been successfully spudded and the results from the drilling will be used to optimise the location and trajectory of the planned LP-02 production well.

Union Jack Oil PLC (UJO) shares climbed on Wednesday on the back of speculation about the West Newton project in East Yorkshire.

Earlier in the week, Union Jack and Europa Oil & Gas Holdings PLC (LON:EOG) reassured investors that their operations will not be affected by a recent decision by the UK government to ban fracking.

Meanwhile on Friday, development partners Europa Oil & Gas (LON:EOG), Union Jack Oil (LON:UJO) and Egdon Resources (LON:EGD) confirmed that the result of a public inquiry into the Wressle onshore oil development in Lincolnshire is expected by the end of the year.

Alba Mineral Resources PLC (LON:ALBA) hailed “rapid progress” in the drilling of a horizontal well at the Portland reservoir of the Horse Hill project near Gatwick, in which it owns an 11.8% stake.

Aminex PLC (LON:AEX) said it aims to fast track its exploration programme in the Ruvuma Basin due to an improved business environment in Tanzania.

Solo Oil PLC (LON:SOLO) said is seeking clarification following the announcement by Aminex, its joint operating partner over a decision to fast track parts of a work programme at the Ruvuma project in Tanzania.

Share Talk Weekly Stock Market News, 10th November 2019

US Oil & Gas PLC said it remains optimistic it can drill a well on its Hot Creek Valley leases in Nevada by the end of the first quarter of next year.

Echo Energy PLC (LON:ECHO) extended its acquisition agreement for the Santa Cruz Sur asset package in the Austral basin in Argentina.

Energean Oil and Gas PLC (LON:ENOG) finished an appraisal of its Karish North offshore exploration well, estimating recoverable resources of 0.9trn cubic feet of gas, as well as 34mln barrels of light oil or condensate.

Diversified Gas & Oil PLC (LON:DGOC) has sold its non-producing assets in Monroe County, Ohio, for US$10mln.

Sound Energy PLC (LON:SOU) has signed a preliminary agreement to sell just over half of its stake in its Tendrara licences in East Morocco for US$113mln.

Cadogan Petroleum Plc (LON:CAD) has moved a step closer to renewing the licence for its main producing asset in Ukraine.

Hurricane Energy PLC (LON:HUR) played down speculation over its Warwick West well in the UK’s West of Shetland continental shelf. Gossip in a market blog on Friday suggested that the well has exceeded all hopes.

Plexus Holdings Plc’s (LON:POS) said it is “working behind the scenes” to gain traction in the production market, expected during the next financial year, as it navigates through an adjustment period following a switch in strategy last year.

By Giulia Bottaro 

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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