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Kenneth G. Mondero

Oil Firms Post Positive Drilling Results, Increase Reserves

09 Jun 2014 @ 08:51
Several London-listed oil and gas exploration firms have encountered positive drilling results recently, as announced in their regulatory filings Monday, as well as increased their proven reserves. Wells drilled by Mosman Oil & Gas (LSE:MSMN), Hurricane Energy (LSE:HUR), and Leni Oil & Gas (LSE:LGO) met different successes, while Caza Oil & Gas (LSE:CAZA) and Sound Oil (LSE:SOU...
 

Premier Oil Strikes Another Gas Discovery in Indonesia

04 Jun 2014 @ 08:54
Premier Oil’s (LSE:PMO) recently drilled well in Indonesia proved to be successful after encountering gas-bearing quality sands, the company reported on Wednesday. In a statement, the FTSE 250 oil and gas explorer said the Singa Laut-1 well discovered 177 feet of net gas reservoir in its Tuna Production Sharing Contract, where it holds 65 percent interest. The well is a sidetrack...
 

Ophir Energy Finds 1 TCF of Gas in Tanzania

04 Jun 2014 @ 08:21
Ophir Energy (LSE:OPHR) said Wednesday it has made a new gas discovery in Tanzania. In a statement, the FTSE 250 oil and gas explorer said the Taachui well encoutered 155 metres of net gas pay equivalent to an estimate of about 1 trillion cubic feet (tcf) of gas. “The size of the gas column is such that the discovery could extend into a second compartment to the west which has the...
 

Strong Initial Results from Yaoure Gold Project - Amara

30 May 2014 @ 08:02
AIM-listed Amara Mining (LSE:AMA) said phase 1 of its 2014 drilling campaign at its Yaoure Gold Project in Côte d’Ivoire (Ivory Coast) yielded impressive results. In a statement, John McGloin, Executive Chairman of Amara, said the campaign had “strong initial results” that confirmed earlier data and increased the company’s confidence in the potential of the project. The report showed six...
 

Rockhopper Exploration to Buy Mediterranean Oil & Gas

23 May 2014 @ 08:14
Rockhopper Exploration (LSE:RKP) is to purchase Mediterranean Oil & Gas (LSE:MOG) for GBP 29.3 million in cash and shares, the oil and gas firm said on Friday. In a statement, Rockhopper Exploration said its board and Mediterranean Oil & Gas’ board agreed on the deal to acquire the latter at a price 6.50 pence a share, 15.6 percent higher than the latter’s closing share price...
 

Polymetal International Buys US$618.5M Gold Project

22 May 2014 @ 09:29
Polymetal International has agreed to purchase a gold project in Kazakhstan for US$618.5 million, the London-listed mining company said on Thursday. In a statement, Polymetal said it has entered into binding agreements to acquire Altynalmas Gold (AAG) Ltd, the holding company of Kyzyl Gold Project, located in Northeastern Kazakhstan. The sale will be paid in cash of US$318.5 in cash and shares...
 

Nostrum Seeks Premium Listing on the LSE

20 May 2014 @ 08:27
Nostrum Oil & Gas wants to have a premium listing on the London Stock Exchange and a place at the FTSE index, the Kazakhstan-focused oil and gas producer said on Tuesday. In a statement, the directors of Nostrum plans to admit a newly established holding company on the LSE’s main market as well as on the Kazakhstan Stock Exchange. Nostrum, which has global depository receipts listed...
 

Tullow Oil: Kenyan Wells Find Oil Pay

15 May 2014 @ 09:10
Independent oil and gas exploration and production firm Tullow Oil (LSE:TLW) said two wells being drilled in Kenya have encountered oil. In a statement today, the FTSE100 constituent said the Twiga-2 appraisal well found 62 metres of net oil pay after sidetracking the well from its original drill. Before sidetracking, the well only encountered 18 metres of net oil pay. The other well...
 

Nordgold Q1 Profit Surges 68%

15 May 2014 @ 08:49
Net income of gold producer Nordgold (LSE:NORD) surged 68 percent,  boosted by higher production despite lower realised gold prices as well as strict cost control, the mining firm said today. In a statement, Nordgold said its net income rose from US$14.6 million a year ago to US$24.6 million in what its Chief Executive Officer, Nikolai Zelenski, referred to as a “robust financial...
 

Rio Tinto's Pilbara Mines Reach Full Capacity Run Rate

13 May 2014 @ 17:15
Anglo-Australian mining firm, Rio Tinto (LSE:RIO) said its Pilbara mining operations has achieved its optimum run rate of 290 million tonnes a year (Mt/a) two months ahead of schedule. The company earlier stated Pilbara will reach its nameplate capacity during the second half of the year. In a statement, Rio Tinto’s Chief Executive Andrew Harding said the feat is a “significant milestone”...
 
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