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Proactive oil highlights: Canadian Overseas Petroleum, Egdon Resources, Haydale Graphene and more...

A round up of oil sector news from the world of Proactive.
Oil rig
Weekly round up of oil news

Canadian Overseas Petroleum Limited (LON:COPL, CVE:XOP) has highlighted that the upcoming ExxonMobil operated exploration well in Liberia is the group’s short-term focus.

In an investor update for the second quarter COPL added that it also continues to identify, evaluate and pursue exploration and development opportunities in Nigeria, Equatorial Guinea and other West African countries.

Iofina plc (LON:IOF) has told investors that a regulatory snub in the State of Montana will have no impact on the core operations.

The company noted in a stock market statement that the Montana District Court has made a ruling that goes against its non-core Water Depot Project.

Solo Oil PLC (LON:SOLO) unveiled a series of board changes, which sees oil and gas executive Daniel Maling  appointed as finance director.

Donald Strang, who had been in the role, is stepping down to become  a non-executive director.

Mytrah Energy Ltd (LON:MYT) has announced a series of senior management changes which include the hiring of a new chief executive.

Vikram Kailas, currently chief financial officer, has now become the company’s new chief executive taking over the role from Ravi Kailas, who retains his role as chairman.

Providence Resources PLC (LON:PVR) confirmed its increased stake in Frontier Exploration Licence (FEL) 3/04, which hosted the 2013 Dunquin North well and the remaining Dunquin South exploration prospect.

The Irish company now owns a 26.846% interest in the licence. It comes after ExxonMobil exited the project.

Haydale Graphene Industries PLC (LON:HAYD) has funded a new Professorial Chair at Swansea University's Welsh Centre for Printing and Coating (WCPC).

Professor Tim Claypole MBE, founder and director of WCPC, which is based within the College of Engineering at the University's Bay Campus, has taken up the role of the Chair in Advance Manufacture by Printing.

Haydale Graphene Industries PLC (LON:HAYD) is to launch material for 3D printing at a trade show in Birmingham next month.

The graphene-enhanced poly lactic acid (PLA) filaments will be unveiled at the TCT show in Birmingham on 28 and 29 September.

San Leon Energy Plc (LON:SLE) has confirmed it is advancing with a US$200mln equity funding to support its new Nigerian venture.

In a brief stock market statement San Leon told investors it intends to issue new shares at a price of 45p each (the AIM share was suspended priced at 29.12p in January).

UK oil group Parkmead (LON:PMG) has doubled its stake in the Polecat and Marten oil fields in the UK Central North Sea.

Parkmead now owns 100% of Licence P2218, which the blocks sit in, having acquired an initial  50% interest in the UK 28th Licensing Round.

Range Resources Ltd (LON:RRL) has confirmed the spudding of its latest well in Trinidad.

Drilling started on the LD-1 development well - which will be referred to as QUN-159 going forward - on August 8 at the Morne Diablo field.

Shares in oil & gas companies considering using fracking rose on Monday after the government announced plans to compensate residents affected by the controversial extraction technique.

IGAS Energy (LON:IGAS) jumped 4.3p, or 32%, to 18.85p and Egdon Resources Plc (LON:EDR) lifted 23%, to 13.35p on news that ministers would give local people part of the tax proceeds from fracking.

Sound Energy PLC (LON:SOU) told investors the Tendrara 6 well in Morocco has been confirmed as a significant gas discovery.

The well was drilled to a depth of 2,665 metres and encountered 28 metres of net gas pay.

 

 


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