Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

ENEGI Oil hires Fugro to assess Ireland onshore shale project

ENEGI Oil has told investors that it has hired Fugro Robertson to independently assess its potential shale resources in the Clare basin, onshore Ireland.
ENEGI Oil hires Fugro to assess Ireland onshore shale project

 

ENEGI Oil (LON:ENEG) has told investors that it has hired Fugro Robertson to independently assess its potential shale resources in the Clare basin, onshore Ireland.

This comes as ENEGI received ‘extremely encouraging’ findings from its initial assessment of the project.

It said that total carbon analysis confirmed that the shale is a ‘rich source rock’ and it has an abundance of preserved organic matter. Separate analysis has also indicated that the shale is less mature than previously documented, and ENEGI says this enhances the potential for gas at depth.

"The latest results strengthen our belief in the potential of the Clare Basin,” chief executive Alan Minty said.

“We look forward to the results from Fugro, which will not only shape our plans for the area, but also give us an indication of the magnitude of resources that we could potentially book in future." 

Fugro will carry out further testing on ENEGI’s behalf to get a fuller understanding of the shale prospectivity in the region. And it will prepare an estimate of the project’s in-place resources.

It is expected that the Fugro report will be submitted before the end of November.

 

View full NUOG profile View Profile

Nu-Oil and Gas Plc Timeline

Related Articles

picture of gas flare
July 19 2017
A new gas generator also came on stream recently and has started to produce the first power from the project
picture of gas pipes
June 14 2017
The Ntorya-3 appraisal well may be delayed in favour of acquiring another batch of 3D seismic over the licence.
onshore drilling operation
October 23 2017
The hotly anticipated Opuama-7 well appears to have been a success and the company is now advancing plans to drill more new wells at the Opuama field

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use