Echo has potentially encountered some 500 metres of oil and gas in what could be a significant "play opening" exploration well
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The German firm noted that wholesale energy costs have increased more than 20% since March, largely due to the impact of extremely cold temperatures earlier this year depleting European gas storage
A cash flow model - assuming one new IOsorb plant is added each year between 2019 and 2021 - gives a price target of 35p/share
"We are extremely encouraged by today's result at South Disouq,” said Paul Welch, SDX chief executive
Echo will next drill at the CSo 111-I well location at Fracción D where a successful result would potentially support an early development decision.
It comes after UK regulators confirmed the Horse Hill project was clear to undergo a long term production testing programme
Horse Hill stakeholders UKOG, Solo Oil and Alba Mineral all saw shares rise as investors look forward to a potentially pivotal phase for the onshore UK oil discovery
AIM-listed Prospex specialises in projects that are ‘fairly late’ in the exploration phase
A US$575mln deal, supported by a new US$1bn lending facility, is due to add 11,350 additional wells and will more than double production volumes
The AIM-listed alternative energy group said testing by the Polish government laboratory showed that the new fuel met requirements under new AntiSmog legislation
Rig prices can soar when exploration activity picks up
Ades expects “a marked improvement in global supply-demand dynamics"
“Based on the pressures and flow rates, there is no indication of any impediment to flow through the perforations at this stage,” the company said in a statement
Analyst Ahmed Farman reckons Ofgem is likely to adopt a “balanced approach” when it brings in its new price cap on standard variable tariffs
It is the third of four planned wells in the current Argentina drill programme.
As an outcome of the workover well success the company now expects to convert up to 15 billion cubic feet of gas into contingent resources, should the project move into development
Sound Energy is advancing with multiple work-streams which means a number of value catalysts are coming down the line for investors.
The Tendrara field is expected to yield some 60mln cubic feet of natural gas per day once operational
Energy supplier SSE PLC has agreed to pay £1mln to Ofgem’s consumer redress fund after providing some pre-payment meter customers with inaccurate and misleading information in annual statements
Chief executive James Parsons described it as a "hugely important milestone " for Sound Energy
The Lancaster is due to come into production in 2019 and it has the potential to unlock a major new play
Centrica expects to maintain its 12p full-year dividend, which gives a yield of more than 8% based on the current share price, well above the average FTSE 100 yield of 3.9%
SocGen lifts its view for Brent crude to US$74, from US$60, and, whilst that boosts the outlook for all producers some are expected to be favoured more than others.
Chief executive Fiona MacAulay says the well can be brought to production quickly should testing prove successful
It comes as newly captured 3D seismic is incorporated, providing better insights into the already identified prospects