Share Name Share Symbol Market Type Share ISIN Share Description
Oilexco LSE:OIL London Ordinary Share CA6779091033 COM SHS NPV (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 6.90p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 174.0 59.2 -18.1 - 15.44

Oilexco Share Discussion Threads

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DateSubjectAuthorDiscuss
23/1/2017
10:23
By Philip Waller LONDON--Gulf Keystone Petroleum Ltd. (GKP.LN) Monday, an oil producer in Iraqi Kurdistan, said it has received $15 million from the Kurdistan Regional Government for oil sales made in October. The group, which produces 40,000 barrels of oil a day from its Shaikan field in the semi-autonomous region of Iraq, said it has $106.1 million of cash following receipt of the payment. Last month, shares in Gulf Keystone rose following reports that Chinese oil major Sinopec was considering acquiring it. Neither firm commented on the speculation. At 0939 GMT, shares in Gulf Keystone were up 3.75 pence, or 2.9%, at 133.5 pence.
chart trader2000
23/1/2017
10:06
LONDON--Nostra Terra Oil & Gas Company PLC (NTOG.LN) said Monday it cut lifting costs at the Pine Mills oil field to $18.46 from $18.93 a barrel during the first two months as the field's operator. "We expect still to make further operational improvements at Pine Mills to increase our overall profit," said Chief Executive Matt Lofgran. Nostra Terra backed its goal to achieve 150 barrels of oil a day from the oil field. In addition, the company got a gross payment of $99,500 for oil sold in December, it said.
chart trader2000
23/1/2017
09:36
LONDON--Ascent Resources PLC (AST.LN), an independent oil and gas exploration company with a focus on European onshore projects, said Monday additional wireline operations at well Pg-10 have been successfully completed. The service team cleared debris from the well and perforated the production tubing at a depth of 3,102 meters where it is in contact with the reservoir, Ascent said. It added that the team has mobilized the surface well test team to carry out a flow test, and expects this work to be completed this week.
chart trader2000
23/1/2017
09:20
LONDON--Rose Petroleum PLC (ROSE.LN) said Monday it continues to review potential opportunities in the U.S. oil & gas sector and believes the U.S. energy sector has a far more favorable outlook. The AIM quoted natural resources company added that the permitting process of the 3D seismic shoot in the Paradox Basin in Utah continues to progress well. The permit is expected to be approved and granted in the first half of this year, with the physical shoot starting in the second half. The company also said custom milling of third-party ore continued at its SDA Mill in Mexico, while efforts are being made to identify joint-venture opportunities that would generate better returns than custom milling. The company also said it is actively pursuing the recovery of IVA (value added tax) and tax totaling around US$760,000 from the Mexican tax authority, Servicio de Administracion Tributaria. Rose Petroleum also said that as a result of the group developing good relationships in Cuba, it has now engaged with the Cuban national oil company, CUPET, and is in early stage discussions regarding oil & gas licenses.
chart trader2000
20/1/2017
20:16
post img the laggard.
chart trader2000
20/1/2017
20:12
images upload image uploading this year's leaders
chart trader2000
20/1/2017
13:14
now March 2017 - expiry 21 Feb 2017
bountyhunter
20/1/2017
10:17
image hosting site
chart trader2000
19/1/2017
14:58
Amerisur Resources An update from the Platanillo-24 infill well which is located at the most northern developed lobe of the field. Again drilled under time and budget (under $2m), the well logged the reservoir section and has initially indicated the presence of 67.5 feet of gross oil and 38 feet of net oil in the U sands formation and 14 feet and 8 feet respectively in the T sands. There were no N sands here, as expected and it will be developed for commercial production from the U sands into Pas 3N. Meanwhile the rig heads north to Pad 2N to drill the Platanillo-22 appraisal well subject to some local social protests. Continued good progress here and eventually more for the OBA pipeline for exports. Pantheon Resources Pantheon announced an operational update from the VOBM#4 well in Tyler County on Friday which delivered some most interesting news. The well has encountered two separate hydrocarbon bearing zones before reaching primary targets of the Eagleford sandstone and the Austin Chalk. The company has decided to test the Wilcox formation, the shallower of the two formations, (the other zone being the Navarro, highly fractured carbonate formation which had gas shows) using a workover rig. The Nabors F-12 rig is being relocated to re-enter and complete the VOBM#2 well and it is likely that another, likely bigger rig will in due course return to the centre basin area to drill for the intended target the Eagleford sandstone using a bigger casing in the well. This is a sensible, safety first and also avoids sending needless quantities of oil based mud into the well. This potential Wilcox discovery is potentially good on a number of levels, not least as it wasnt really expected. The formation is prolific in South Texas where it is incredibly valuable, a well can come in at less than $1m each and pay back in 60 days, what’s not to like. Also the formation contains sweet gas which might help Pantheon with blending, as well as liquids which are easily saleable. The disclosed pay of 35 feet is ‘pretty damn good’ in the words of the drillers so there is reason for optimism, with or without this it had to be looked at. It is true to say that the Eagleford hasn’t yet been discovered here but that is no disappointment, it is only a slight delay and for what might be the very best of reasons. It is not yet certain whether the company have an economic field in place yet but I think that they are nearly there. I have kept my 220p target in place through all the ‘problems̵7; last year and am not going to change that now, 2016 may have been a lull, 2017 may be back into action for Pantheon.
chart trader2000
19/1/2017
14:57
Ithaca Energy An operational update from IAE this morning, all will be revealed in the results but most things are going well here as one might expect. Production last year beat the guidance and this year is 19-22/- although Stella might improve that. Not in the short term as the start up has been delayed again but only to February but that makes no difference. The good news is that Harrier is now under way, a cheap development as it also uses FPF-1 and the GSA infrastructure. Opex is down 30% at $18 pb and net debt is falling too, this will only get better when the FPF-1 finally gets up and running. Still a top stock in the bucket list and a certainty to stay there, amongst the best in show. Faroe Petroleum Another very pleasing, well managed company, Faroe is also set fair for another good year I suspect. Dazzler has become Boné and is a high impact well that will be genius if it comes in, the company has also announced that a Brasse appraisal well is imminent. 2017 is set to be a ‘significant year for Faroe with a full program of exploration, appraisal, infill and early stage development’ set to keep investors happy and wealthy… Premier Oil Prems has also issued a trading statement, like London buses they all come along at the same time. Very little has changed for PMO though, we still wait for the debt talks to conclude but operationally things are going pretty well. Production beat the guidance although Solan looks like a walking disaster zone with production still ‘disappointing’. Catcher is still on target and Tolmount is up for approval soon just leaving Sea Lion to handle. At these industry prices Sea Lion should be profitable and as I have said before, other major projects around the world are now getting sanctioned, given how big this is for PMO they should be doing the same, although I know they will say that the bankers might say differently. Overall, Premier is looking in decent shape and subject to a lot of yeses, nos and maybes should stay with us…
chart trader2000
19/1/2017
14:51
The latest comments from Malcy for his bucket list. link below http://uk.advfn.com/cmn/fbb/thread.php3?id=35420282 Faroe Faroe has announced that it has received four new licences in the recently announced APA round. Three are in the Norwegian North Sea of which one looks very like a possible Brasse extension, one is the Pabow prospect east of Shango and one is the Goanna prospect. They have also received one licence in the Norwegian Sea which contains the Canela project. These awards being in the APA round, ie Awards in Pre-defined Areas, mean that Faroe are able to pinpoint such areas and adds exploration as well as concentrating on consolidating near Brasse for example. With few commitments Faroe have been wise to pick up these blocks which underscores my favourable valuation for the future and will surely remain in the bucket list come the end of january. Tullow A nice discovery from Tullow today at Erut-1 in Kenya where the oil column was 100-125m which is indeed impressive. The well was to test the structural trap at the northern limit of the South Lokichar basin and de-risks multiple prospects. With Kenya looking better the farm-out to Total (right this time) in Uganda looks smarter and smarter. Cairn Energy A pre-close update from Cairn today but very little to add. The 3rd phase of drilling in Senegal is about to start with SNE-5 and 6 to be drilled at the southern end of the structure in an attempt to provide connectivity and deliverability. After that the selection process for the next wells takes place. Kraken plods on with first oil due in Q2 2017 and Catcher also looks likely to be onstream H2 2017. Here capex is $1.6bn which is $600m less than originally estimated. With $335m of cash and the RBL undrawn all looks good but after UK devex of $170m this year plus E&A of $125m those receivables will be handy. The arbitration re CIL continues and with some big cheques to write i’m sure they wish they could access some of that cash pile.
chart trader2000
19/1/2017
08:53
Sound Energy plc ("Sound Energy" or the "Company") Successful TE-7 Extended Well Test Sound Energy, the African and European focused upstream gas company, is pleased to confirm a successful extended well test at TE-7, the Company's second well at the Tendrara licence (onshore Morocco). The Company has flowed just under 1.0 Bscf from TE-7 over a period of 56 days continuous flow and has now started a final pressure build-up phase. The overall extended test results are consistent with the Company's estimates and confirm the good deliverability of the TAGI reservoir, the horizontal well concept and the Company's view of the significant potential of the field. Throughout the test the flow rate was limited by the Company at a maximum 40% drawdown to preserve completion integrity. The average constrained flow rates over the course of the extended well test were as follows: Choke Size Average Rate 44/64 inch 28 mmscfd 36/64 inch 22 mmscfd 28/64 inch 15 mmscfd The Company confirms that, as expected, no formation water was produced during the test and no indication of barriers were detected - confirming a significant connected volume. The pressure gauges at TE-5 and TE-6 will be monitored over the next month to further confirm the physical connectivity of the reservoir. The results of the extended well test will now be analysed and utilized to finalise field development planning.
chart trader2000
19/1/2017
08:19
FRONTERA RESOURCES CORPORATION OPERATIONS UPDATE Houston, Texas, U.S.A. 19 January 2017 Frontera Resources Corporation (London Stock Exchange, AIM Market - Symbol: FRR), an independent oil and gas exploration and production company ("Frontera" or the "Company"), today announces an update of its operations in the country of Georgia. During November and December of 2016, operations to complete a new six well stimulation program were delayed pending delivery of additional pumping equipment deemed necessary for execution of the planned program, in order to reduce risk and enhance desired outcome. The pending campaign, previously announced on October 24, 2016, is focused on continuation of the Company's ongoing Oil Window and Gas Window operations at its South Kakheti Complex. While awaiting mobilization of remaining equipment from the United States, now expected to be delivered during the month of March, ongoing operations have focused on workover, production testing and related petrophysical analysis of previously stimulated wells at the Taribani Field area of the South Kakheti Complex. Results from this work have notably demonstrated that, based on advanced log analysis, approximately 150 meters of gross oil and associated gas pay has now been identified for development across the extensively targeted Eldari Formation. Analysis of long term cumulative production rates from key wells, Niko#1, T-45 and Dino#2, have provided the basis reservoir performance modeling that indicates the average expected ten-year ultimate recovery (EUR) per stimulated gross meter is calculated to be approximately 8,000 barrels. This historical performance data now supports a greater recovery potential than initially envisaged. As previously announced, the Company expects that the pending campaign, when completed, will significantly contribute towards its current objective of achieving pilot production rates of approximately 2,200 boe per day, which would result in monthly revenues of approximately U.S. $3 million at current commodity prices. Further, the Company advises that it expects to convene its annual general meeting in March or April 2017. Notice of the annual general meeting will be sent to all shareholders in due course. Steve C. Nicandros, Chairman and Chief Executive Officer commented: "Despite equipment related delays in completing our pending stimulation campaign, the testing and associated analysis that has been conducted in the interim has revealed greater potential for oil and gas recovery than we previously envisaged. With this, our ongoing work continues to demonstrate a lower risk profile associated with this significant value for our company."
chart trader2000
19/1/2017
07:23
Sound Energy plc ("Sound Energy" or the "Company") Proposed Acquisition of OGIF's Interests in Eastern Morocco Sound Energy, the African and European focused upstream gas company, is pleased to announce the signature, following the successful extended well test, of non-binding heads of agreement for the acquisition of all of Oil & Gas Investment Fund's ("OGIF's") assets in Eastern Morocco (the "Proposed Acquisition"). Highlights: -- The Company to purchase a further 20% interest in Tendrara, a 75% interest in Meridja and an application for a 75% position in the relinquished area close to Tendrara -- The consideration for the acquisition will be 272 million new ordinary shares in the Company, subject to shareholder approval -- OGIF introduced as a second cornerstone investor with future Non-Executive Board representation, thereby further institutionalising Sound Energy OGIF is a Moroccan fund, owned by seven large Moroccan financial institutions: Attijariwafa Bank Group (the largest Moroccan bank), CIMR and CDG Group (the largest Moroccan Pension Funds), Finance Com and Advisory and Finance Group (Investment Companies), Mamda-Mcma and Saham (Insurance Companies). OGIF's Eastern Moroccan assets consist of a 20% interest in Tendrara, a 75% interest in Meridja (including a 55% interest in Meridja over which Sound Energy has previously exercised an option, conditional on regulatory approval) and an application for a 75% position in the relinquished area close to Tendrara (the "OGIF Interests"). The consideration for the acquisition of the OGIF Interests will be 272 million new ordinary shares in the Company (the "Consideration Shares"). The Consideration Shares will, on issue, represent 29.0% of the Company's enlarged issued share capital (24.5% of the Company's fully diluted share capital). As part of the transaction, OGIF will agree to a 12 month lock-in in relation to the Consideration Shares, a 36 month restriction on exceeding 29.9% ownership of the Company and will enter into a relationship agreement with the Company. OGIF will be granted the right to appoint one Non-Executive Director, expected to be a senior OGIF executive, to the Board of the Company for so long as OGIF continues to hold more than 10% of the Company's issued ordinary share capital. Further to the expression of interest from OGIF to fund, build and operate a new pipeline connecting Tendrara to the Gazoduc Maghreb Europe (GME) pipeline announced on 7 July 2016, OGIF and Sound Energy have also agreed, as part of this transaction, to together identify and secure a low cost and high quality solution for the Tendrara infrastructure, which may include using OGIF's shareholders to fund the pipeline. Following this transaction Sound Energy will hold 75% of Tendrara and 75% of Meridja on a gross basis - representing 47.5% of Tendrara on a net basis (after the Schlumberger synthetic farm in announced in December 2015) and 75% of Meridja on a net basis. The remaining 25% interests in Tendrara and Meridja are held by Morocco's Office National des Hydrocarbures et des Mines ("ONHYM"). The Proposed Acquisition will, subject to contract and Sound Energy shareholder approval, render it unnecessary to finalise the completion of the Company's previously exercised option to acquire a 55% operated interest in Meridja. A circular containing details of the Proposed Acquisition and a notice convening a General Meeting for the purposes of seeking shareholder approval for the issue of the Consideration Shares, will be posted to shareholders in due course, following the finalisation of contracts. James Parsons, Sound Energy's Chief Executive Officer commented: "This transaction positions Sound Energy with: -- a hugely attractive, material and consolidated portfolio across Eastern Morocco -- significant additional upside prior to the drilling of TE-8, our first step-out well at Tendrara, which is due to spud next month -- a second supportive cornerstone investor group made up of Morocco's largest institutions which secures us a hugely advantaged position in Morocco We are pleased to have entered into heads of agreement with OGIF following the successful extended well test and I look forward to welcoming them to our shareholder register. I have worked closely with the OGIF team for over 18 months now and their access to Moroccan debt capital and their relationship and influence in country are second to none." Mohammed Benslimane, Chief Executive Officer of OGIF's management company commented: "Morocco is a fast growing and low risk emerging country with significant hydrocarbon potential. Sound Energy has already played a critical role in unlocking the Eastern Moroccan gas promise over the last eighteen months and we remain hugely impressed by James and his team. This new partnership aligns the interests of OGIF and Morocco's largest financial institutions with those of Sound Energy. We see huge short term upside potential in the equity of Sound Energy and look forward to what will certainly be a successful future together."
chart trader2000
19/1/2017
07:22
Sound Energy plc ("Sound Energy" or the "Company") Proposed Acquisition of OGIF's Interests in Eastern Morocco Sound Energy, the African and European focused upstream gas company, is pleased to announce the signature, following the successful extended well test, of non-binding heads of agreement for the acquisition of all of Oil & Gas Investment Fund's ("OGIF's") assets in Eastern Morocco (the "Proposed Acquisition"). Highlights: -- The Company to purchase a further 20% interest in Tendrara, a 75% interest in Meridja and an application for a 75% position in the relinquished area close to Tendrara -- The consideration for the acquisition will be 272 million new ordinary shares in the Company, subject to shareholder approval -- OGIF introduced as a second cornerstone investor with future Non-Executive Board representation, thereby further institutionalising Sound Energy OGIF is a Moroccan fund, owned by seven large Moroccan financial institutions: Attijariwafa Bank Group (the largest Moroccan bank), CIMR and CDG Group (the largest Moroccan Pension Funds), Finance Com and Advisory and Finance Group (Investment Companies), Mamda-Mcma and Saham (Insurance Companies). OGIF's Eastern Moroccan assets consist of a 20% interest in Tendrara, a 75% interest in Meridja (including a 55% interest in Meridja over which Sound Energy has previously exercised an option, conditional on regulatory approval) and an application for a 75% position in the relinquished area close to Tendrara (the "OGIF Interests"). The consideration for the acquisition of the OGIF Interests will be 272 million new ordinary shares in the Company (the "Consideration Shares"). The Consideration Shares will, on issue, represent 29.0% of the Company's enlarged issued share capital (24.5% of the Company's fully diluted share capital). As part of the transaction, OGIF will agree to a 12 month lock-in in relation to the Consideration Shares, a 36 month restriction on exceeding 29.9% ownership of the Company and will enter into a relationship agreement with the Company. OGIF will be granted the right to appoint one Non-Executive Director, expected to be a senior OGIF executive, to the Board of the Company for so long as OGIF continues to hold more than 10% of the Company's issued ordinary share capital. Further to the expression of interest from OGIF to fund, build and operate a new pipeline connecting Tendrara to the Gazoduc Maghreb Europe (GME) pipeline announced on 7 July 2016, OGIF and Sound Energy have also agreed, as part of this transaction, to together identify and secure a low cost and high quality solution for the Tendrara infrastructure, which may include using OGIF's shareholders to fund the pipeline. Following this transaction Sound Energy will hold 75% of Tendrara and 75% of Meridja on a gross basis - representing 47.5% of Tendrara on a net basis (after the Schlumberger synthetic farm in announced in December 2015) and 75% of Meridja on a net basis. The remaining 25% interests in Tendrara and Meridja are held by Morocco's Office National des Hydrocarbures et des Mines ("ONHYM"). The Proposed Acquisition will, subject to contract and Sound Energy shareholder approval, render it unnecessary to finalise the completion of the Company's previously exercised option to acquire a 55% operated interest in Meridja. A circular containing details of the Proposed Acquisition and a notice convening a General Meeting for the purposes of seeking shareholder approval for the issue of the Consideration Shares, will be posted to shareholders in due course, following the finalisation of contracts. James Parsons, Sound Energy's Chief Executive Officer commented: "This transaction positions Sound Energy with: -- a hugely attractive, material and consolidated portfolio across Eastern Morocco -- significant additional upside prior to the drilling of TE-8, our first step-out well at Tendrara, which is due to spud next month -- a second supportive cornerstone investor group made up of Morocco's largest institutions which secures us a hugely advantaged position in Morocco We are pleased to have entered into heads of agreement with OGIF following the successful extended well test and I look forward to welcoming them to our shareholder register. I have worked closely with the OGIF team for over 18 months now and their access to Moroccan debt capital and their relationship and influence in country are second to none." Mohammed Benslimane, Chief Executive Officer of OGIF's management company commented: "Morocco is a fast growing and low risk emerging country with significant hydrocarbon potential. Sound Energy has already played a critical role in unlocking the Eastern Moroccan gas promise over the last eighteen months and we remain hugely impressed by James and his team. This new partnership aligns the interests of OGIF and Morocco's largest financial institutions with those of Sound Energy. We see huge short term upside potential in the equity of Sound Energy and look forward to what will certainly be a successful future together."
chart trader2000
18/1/2017
08:33
By Philip Waller LONDON--Oil explorer Angus Energy PLC (ANGS.LN) Wednesday said it expects to re-enter a well at its Brockham field in southern England in the next few days. Angus said the re-entry should be complete this week while work to complete and case the well should take another two to three days. The company said it will make a "further announcement when it is in a position to fully evaluate the results of the geological evaluation assessment, expected to be three weeks thereafter." Doriemus PLC (DOR.PM) and Alba Mineral Resources PLC (ALBA.LN) have stakes in Brockham of 10% and 5% respectively.
chart trader2000
17/1/2017
10:28
Simon Thomson, Chief Executive, Cairn Energy PLC said: "The next 12 months will be an eventful period for Cairn. We will shortly embark on further exploration and appraisal drilling in Senegal and we continue to work towards first oil and cashflow from our North Sea assets. With six successful wells drilled to date in Senegal, Cairn has established a significant and growing resource base. The 2017 drilling programme aims to further define the SNE field for development and target additional exploration upside on the acreage. Cairn is fully-funded in respect of all of our capital commitments and we continue to actively assess and pursue new ventures within the context of a balanced portfolio." Senegal Exploration & Appraisal Ø Third phase of drilling to commence late January 2017 with further evaluation of the SNE discovery Ø SNE-5 and SNE- 6 wells to be drilled in the south of the SNE structure with the aim of providing key connectivity and deliverability data from upper reservoirs by conducting well tests, including interference testing Ø Joint Venture (Cairn 40% Working Interest (WI)) finalising the selection of further optional exploration and appraisal wells to follow the two firm wells and ensure efficient evaluation of the full licence area Ø Stena DrillMAX, sixth generation drillship, contracted for two firm wells in the exploration and appraisal campaign with multiple follow-on options Ø Rig contract and support services secured in current lower cost environment providing significant flexibility Ø Data gathered will enable calibration of the reservoir model for upper reservoirs, critical for optimising recovery factors by ensuring potential development wells are designed appropriately in number, placement and orientation Ø Current conceptual development plans envisage a range of options including phased development to capture potentially extensive resource base Ø Information from first two phases of drilling and additional seismic work continue to be integrated to build and refine the understanding of the full hydrocarbon potential of the area Developments Ø Catcher and Kraken developments in the UK North Sea on track for first oil in 2017; peak net targeted production to Cairn of 25,000 boepd Ø Kraken (Cairn 29.5% WI) development progressed well in 2016 finishing the year ahead of budget and on schedule for first oil in Q2 2017* Ø Following mechanical completion, bulk of commissioning activities onboard the Kraken FPSO completed in the Far East. FPSO currently in Rotterdam for inspection and certification Ø Drilling programme made excellent progress in 2016 and drilling continues throughout 2017; results from the producer and injector wells drilled and completed, met or exceeded pre-drill predictions with four producer and five water injectors completed Ø Subsea installation programme completed with all three Drill Centres fully connected to submerged turret production buoy for hook up to FPSO and last mooring pile and wire/chains installed Ø Catcher (Cairn 20% WI) is targeting start-up and first oil H2 2017* Ø Total project capex is now forecast at US$1.6 billion, US$600 million (m) lower than the original sanctioned estimate Ø Eight development wells have been completed: all have come in at or better than prognosis in terms of reservoir quality and deliverability. Due to strong well results and well placement optimisation, the well count has reduced to 20 wells, capturing further savings Ø 2016 saw the completion of the installation of all of the subsea equipment. Focus is now on final mechanical completion and the pre-commissioning work scopes Ø Sail-away of the FPSO from Singapore is expected around mid-year Ø Skarfjell JV (Cairn 20% WI) working towards concept selection for field development; decision expected Q1 2017
chart trader2000
17/1/2017
10:27
Simon Thomson, Chief Executive, Cairn Energy PLC said: "The next 12 months will be an eventful period for Cairn. We will shortly embark on further exploration and appraisal drilling in Senegal and we continue to work towards first oil and cashflow from our North Sea assets. With six successful wells drilled to date in Senegal, Cairn has established a significant and growing resource base. The 2017 drilling programme aims to further define the SNE field for development and target additional exploration upside on the acreage. Cairn is fully-funded in respect of all of our capital commitments and we continue to actively assess and pursue new ventures within the context of a balanced portfolio." Senegal Exploration & Appraisal Ø Third phase of drilling to commence late January 2017 with further evaluation of the SNE discovery Ø SNE-5 and SNE- 6 wells to be drilled in the south of the SNE structure with the aim of providing key connectivity and deliverability data from upper reservoirs by conducting well tests, including interference testing Ø Joint Venture (Cairn 40% Working Interest (WI)) finalising the selection of further optional exploration and appraisal wells to follow the two firm wells and ensure efficient evaluation of the full licence area Ø Stena DrillMAX, sixth generation drillship, contracted for two firm wells in the exploration and appraisal campaign with multiple follow-on options Ø Rig contract and support services secured in current lower cost environment providing significant flexibility Ø Data gathered will enable calibration of the reservoir model for upper reservoirs, critical for optimising recovery factors by ensuring potential development wells are designed appropriately in number, placement and orientation Ø Current conceptual development plans envisage a range of options including phased development to capture potentially extensive resource base Ø Information from first two phases of drilling and additional seismic work continue to be integrated to build and refine the understanding of the full hydrocarbon potential of the area Developments Ø Catcher and Kraken developments in the UK North Sea on track for first oil in 2017; peak net targeted production to Cairn of 25,000 boepd Ø Kraken (Cairn 29.5% WI) development progressed well in 2016 finishing the year ahead of budget and on schedule for first oil in Q2 2017* Ø Following mechanical completion, bulk of commissioning activities onboard the Kraken FPSO completed in the Far East. FPSO currently in Rotterdam for inspection and certification Ø Drilling programme made excellent progress in 2016 and drilling continues throughout 2017; results from the producer and injector wells drilled and completed, met or exceeded pre-drill predictions with four producer and five water injectors completed Ø Subsea installation programme completed with all three Drill Centres fully connected to submerged turret production buoy for hook up to FPSO and last mooring pile and wire/chains installed Ø Catcher (Cairn 20% WI) is targeting start-up and first oil H2 2017* Ø Total project capex is now forecast at US$1.6 billion, US$600 million (m) lower than the original sanctioned estimate Ø Eight development wells have been completed: all have come in at or better than prognosis in terms of reservoir quality and deliverability. Due to strong well results and well placement optimisation, the well count has reduced to 20 wells, capturing further savings Ø 2016 saw the completion of the installation of all of the subsea equipment. Focus is now on final mechanical completion and the pre-commissioning work scopes Ø Sail-away of the FPSO from Singapore is expected around mid-year Ø Skarfjell JV (Cairn 20% WI) working towards concept selection for field development; decision expected Q1 2017
chart trader2000
17/1/2017
07:31
Tullow Oil PLC 17 January 2017 News Release THIS PRESS RELEASE CONTAINS INSIDE INFORMATION Erut-1 oil discovery in Kenya 17 January 2017 - Tullow Oil plc (Tullow) is pleased to announce that the Erut-1 well in Block 13T, Northern Kenya, has discovered a gross oil interval of 55 metres with 25 metres of net oil pay at a depth of 700 metres. The overall oil column for the field is considered to be 100 to 125 metres. The objective of the well was to test a structural trap at the northern limit of the South Lokichar basin. The Erut-1 well was drilled ten kilometers north of the Etom-2 well and shares important characteristics. Fluid samples taken and wireline logging all indicate the presence of recoverable oil. Erut-1 successfully shows that oil has migrated to the northern limit of the South Lokichar basin and has de-risked multiple prospects in this area which will now be considered in the Partnership's future exploration and appraisal drilling programme. The PR Marriott Rig-46 drilled the Erut-1 well to a final depth of 1,317 metres and will now move to the southern part of Block 10BB where it will spud the Amosing-6 appraisal well. Tullow operates Blocks 13T and 10BB with 50% equity and is partnered by Africa Oil Corporation and Maersk Oil both with 25%.
chart trader2000
17/1/2017
07:30
Tullow Oil PLC 17 January 2017 News Release THIS PRESS RELEASE CONTAINS INSIDE INFORMATION Erut-1 oil discovery in Kenya 17 January 2017 - Tullow Oil plc (Tullow) is pleased to announce that the Erut-1 well in Block 13T, Northern Kenya, has discovered a gross oil interval of 55 metres with 25 metres of net oil pay at a depth of 700 metres. The overall oil column for the field is considered to be 100 to 125 metres. The objective of the well was to test a structural trap at the northern limit of the South Lokichar basin. The Erut-1 well was drilled ten kilometers north of the Etom-2 well and shares important characteristics. Fluid samples taken and wireline logging all indicate the presence of recoverable oil. Erut-1 successfully shows that oil has migrated to the northern limit of the South Lokichar basin and has de-risked multiple prospects in this area which will now be considered in the Partnership's future exploration and appraisal drilling programme. The PR Marriott Rig-46 drilled the Erut-1 well to a final depth of 1,317 metres and will now move to the southern part of Block 10BB where it will spud the Amosing-6 appraisal well. Tullow operates Blocks 13T and 10BB with 50% equity and is partnered by Africa Oil Corporation and Maersk Oil both with 25%.
chart trader2000
12/1/2017
07:48
Premier Exploration and appraisal The Ravenspurn North Deep well (Premier carried 5% interest) in the Southern North Sea spudded on 2 December. The well is testing the potential of a deep, Carboniferous age, horizon underlying the Ravenspurn North field; if successful, it could provide material follow-on opportunities for Premier within its Southern Gas Basin portfolio, in addition to helping to prolong the life of the Ravenspurn area fields. In Mexico, having been carried through to the end of 2016, Premier exercised its option to increase its equity interest in Block 7 to 25% on the 22 December 2016, subject to CNH approval. The recently reprocessed seismic data covering Block 7 confirmed the robustness of the Zama prospect, a three-way dip structure sealed against a salt feature. Encouragement was provided by a flat spot seismic feature resulting in this prospect being classified as low risk. The P90-P10 gross unrisked resource range of the overall Zama structure is estimated at 100-500 mmboe (in line with released CNH estimates). The JV partners plan to spud the Zama prospect in Q2 2017 with initial results expected within 50 days of spudding. Premier continues to actively manage its exploration portfolio with 16 licences relinquished or sold during 2016. A further 11 licences are scheduled for relinquishment subject to government approvals. In particular, Premier exited its 35% interest in Block FZA-M-90 in the Foz do Amazonas Basin in December (subject to ANP approval) enabling the Group to focus its Brazilian exploration efforts on its core area position in the Ceará basin.
o1lman
12/1/2017
07:48
LONDON-- North Sea-focused Premier Oil PLC (PMO.LN) Thursday reported a rise in production for calendar year 2016 and said its debt refinancing is nearing completion, helping it to speed up debt reduction. Production of 71,400 barrels of oil equivalent per day was up 24% on 2015 and in line with previous guidance, the company said. Total revenues for 2016 will be of the order of $980 million, down from $1.1 billion in 2015 due to the lower oil price, the company said. All substantial commercial terms of the company's refinancing have been agreed and the company expects to reach a further agreement with private lenders in February, then finalize revised refinancing documents, it said.
o1lman
12/1/2017
07:13
Ifaca Highlights · 2016 average production totalled approximately 9,300 boepd - exceeding full year guidance of 9,000 boepd · Forecast first hydrocarbons from the Stella field scheduled for February 2017, with the electrical junction box inspection and remediation work programme nearing completion · 2017 production anticipated to be in the range of 19,000 to 22,000 boepd, reflecting the updated Stella start-up schedule · Harrier field development programme launched - development drilling to be completed in 2017, with start-up of production expected in the second half of 2018 · Forecast 2017 unit operating expenditure of approximately $18/boe, down nearly 30% on 2016 due to the positive impact of low cost Stella volumes on the production portfolio · Forecast 2017 capital investment programme of $70 million, primarily centred on Greater Stella Area ("GSA") activities, including development drilling on the Harrier field · Downside commodity price protection extended into 2018 - average volume of 7,600 boepd hedged to mid-2018 at an average floor price of $50/boe
o1lman
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