Oil and Gas

Independent oil explorer and producer Nautical Petroleum plc (LSE:NPE) topped the London trading board early Wednesday, following an offer made by Cairn Energy plc to acquire the company for £414 million. Shares of Nautical Petroleum jumped by more than half its value on 12th June 2012 to £4.62 a share by 9:00 GMT, 12 pence […]

Newly listed oil and gas exploration company Fastnet Oil & Gas plc (LSE:FAST) has secured licencing options to explore nine blocks in the North and South Celtic Sea off of Ireland, which may hold more than two billion barrels of oil in aggregate, the company released in a statement. Ireland’s Department of Communications, Energy, and […]

Oil and gas exploration and development company Independence Energy Corp. (OTC:IDNG) has taken yet another step towards building a long-term pipeline of new projects by executing a definitive agreement for acquisition of up to 25% working interest in Coleman South Lease exploration joint development project in Coleman County, Texas. With the latest agreement, IDNG is […]

How steep is a 61% slope? The chart for Thalassa Holdings (LSE:THAL) shows you how steep a slope it is, following the announcement this morning of a new joint venture and the release of a related trading update, as the share price had soared by 18.00p to 47.50p by early afternoon. The Joint Venture Thalassa has entered […]

Gold and copper explorer Triple Plate Junction plc (LSE:TPJ) disclosed Monday that their partner Newmont Ventures Limited decided to suspend drilling operations at the Morobe project in Papua New Guinea for six months, following a failure in discovering any significant deposit from its second exploration target. Gumots, one of the 15 prospective drill targets in […]

Range Resources Limited (LSE:RRL) has commenced preparations for the sale of its interest North Chapman Ranch Project in Texas, United States, following a reclassification that saw an increase in proven and probable reserves of the hydrocarbon acreage. The Australia-incorporated oil and gas exploration and production company hopes to dispose its 20%-25% interest in the North Chapman Ranch...

Oil and gas explorer and producer Ithaca Energy (LSE:IAE) announced Monday, the “successful” commencement of oil production from the Athena Field in the UK Continental Shelf, welcomed by its joint venture partners, Trap Oil Group (LSE:TRAP) and Lochard Energy Group (LSE:LHD). “The initial operations phase of the field is in line with management’s expectations and […]

Shares of engineering firm Lamprell (LSE:LAM) lost nearly two-thirds of its market value in trading today, after the company said its profit margin for 2012 will be “below the Board’s original expectation”, making it one of the biggest losers on the London Stock Exchange. At 12:00 GMT, Lamprell lost £1.77, or 60% of yesterday’s closing […]

Shares of exploration and production company Bayfield Energy Holdings (LSE:BEH) plunged 25% on the Alternative Investment Market following the company’s announcement its EG7 exploration well in Trinidad & Tobago encountered water instead of oil. The second exploration well in the Galeota Licence Area, EG7 was drilled at a depth of 5,280 feet and encountered all […]

Genel Energy (LSE:GENL) has further enlarged its interests in the Kurdistan Region of Iraq by securing 23% stake in the Bina Bawi exploration licence through the acquisition of A&T Petroleum Company Ltd. for US$175 million. The company has made the acquisition, still subject to “various consents, approvals, and assurances”, especially from the Kurdistan Regional Government […]