I3 Energy PLC (LON:I3E) reported a discovery from its Serenity well in the North Sea. Describing it as transformational, I3 said the well results were consistent with its pre-drill estimates of 197 million barrels of oil in place.
Sound Energy PLC (LON:SOU) signed a memorandum of understanding to sell natural gas from its Tendrara licences to Morocco’s state power company. A detailed gas sales agreement is still under negotiation, but Sound said this is a binding agreement and the ongoing talks will incorporate the MOU.
Europa Oil & Gas PLC (LON:EOG) provided insights on the potential of its Atlantic licenses as it updated on the status of farm-out negotiations with a “number of parties” interested in partnering with the group.
Tower Resources PLC (LON:TRP) signed a contract for a site survey at its intended Njom-3 well location on the Thali licence, offshore Cameroon. The survey is the final operational step before drilling starts, said Tower.
Echo Energy PLC (LON:ECHO) and operator CGC decided on the location for the first of a four-well exploration drilling programme at the Tapi Aike licence in Argentina. The well is in Chiripia Oeste, the eastern portion of the Tapi Aike 3D survey area, and will be re-named Campo La Mata x-1 (CLM x-1).
Columbus Energy Resources PLC (LON:CERP), the oil and gas producer and explorer with operations in Trinidad and Suriname, confirmed on Tuesday the spud of the Saffron prospect had received Ministry approval for the drilling of the prospect which is in the South West Peninsula, Trinidad.
United Oil & Gas PLC (LON:UOG) has handed back two licences it was provisionally awarded in the UK’s 31st licensing round. At the time of the award, Blocks 98/11b and 98/12 in the English Channel included an area adjacent to the Colter South discovery.
Mosman Oil and Gas Limited (LON:MSMN) shares rose Friday as the company dangled the prospect of becoming cash-flow positive. In the year to the end of June, the company saw revenue rise to US$1.11mln from US$740,853 the previous year but this only tells half the story as two of its wells (Stanley 1 & 2) only commenced production this year while Stanley-3 has come on stream in the current financial year – i.e. since June.
Eland Oil & Gas PLC (LON:ELA) revised down its production estimates for this year due to technical and permitting issues in Nigeria. The Gbetiokun-4 well has been suspended because of problems casing the core with attempts to rectify the issue hampered as the equipment required is not currently available in the country.