The firm will submit a planning application to drill in the coming year.
Showing 25 of 17815
In total, Greka drilled 33 wells (62 wells) during 2016
The tie-up with Waste2tricity takes PowerHouse’s gasification technology another step nearer to commercialisation
The AIM quoted exploration group intends to drill two wells in Mongolia during 2017, and it is pursuing a fresh farm-out to bring in a new partner.
The offshore explorer has added three new projects in the Norwegian North Sea area and another in the Norwegian Sea.
“We will shortly embark on further exploration and appraisal drilling in Senegal," says chief executive Simon Thomson.
The AIM quoted group highlights that the arrangement is expected to bring down costs for the planned GTL and biomass-to-liquid (BTL) fuel plants.
A few days after outlining estimates of 1bn barrels in Nevada, the junior explorer says a large number of shareholders want to increase their interest in the company, and it is now looking at options to facilitate this.
Cantor Fitzgerald has the stock as a buy and has set a target price of 29p
"Magnolia is well placed to step up our level of drilling activity once a recovery in sentiment has become firmly entrenched," said Rita Whittington, chief operating officer.
Chief executive Neil Ritson noted that the company’s focus remains on its operations in Trinidad, where 90% of its reserves and 80% of group production are based.
The company reported it produced just short of 219 metric tonnes of iodine in the second half of the year and 474.2 tonnes for the year.
“I am very pleased that the OGA has approved Upland UK's increased stake in PEDL 299,” said Steve Staley, Upland Resources chief executive.
“We will now take time to consider our options including our right to bring forward an appeal."
It already agreed a US$900mln divestment this week, but it is speculated that another of Tullow Oil's growth projects be sold to alleviate uncertainty over its near US$5bn debt pile.
Executive chairman Bruce Dingwall said a period of prolonged uncertainty has now come to an end.
The Argentina-focused oiler has hired a rig for its 2017 programme which aims to take production to 1,200 bopd by the end of summer.
CEO Jón Ferrier said Stuart Catterall "is a great addition to the team and we look forward to his contribution as we continue to increase production from the Shaikan field."
The explorer is working to secure a new partner for wells in Mongolia, following Shell's exit, and it says plans for 2017 drilling is still on track despite a delay in receiving a US$5mln payment.
Roxi failed to perforate the targeted section of reservoir in the A6 well and it must now complete work on another well before it can prepare for flow testing.
Chief executive Neil Ritson will now take on the chairmanship in addition to his executive role, and LGO is appointing a new non-executive director too.
Eland is one of Peel Hunts three ‘top picks’ in the oil and gas sector for the first quarter of 2017.
Analyst Mark Wilson says that exploration success or failure is one of the main factors that see stocks deviate from the commodity price trend.
"This agreement continues to demonstrate Chariot's ability to deliver on its strategy of securing third-party validation through partnering, and we are excited that we will now take one of our priority targets through to drilling," said chief executive Larry Bottomley.
Biopalm will have a stake of approximately 12.5% in DekelOil following the transaction.