Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) announced a strategic shift which is said aims to achieve “sustainable market recognition of its recoverable resources”, and, it plans to relocate management to Houston as part of the new approach.
The Alaska-focussed explorer, which has unearthed multi new discoveries in the North Slope region, also told AIM investors that it has begun planning for a float on the Nasdaq.
Touchstone Exploration Inc (AIM:TXP, TSX:TXP, OTC:PBEGF) told investors that construction work is progressing at the Cascadura field’s gas and liquids facility, where commissioning is expected to start in July.
The commissioning will involve both the Cascadura-1ST1 and Cascadura Deep-1 wells, it noted in a statement.
i3 Energy PLC (AIM:I3E, TSX:ITE, OTC:ITEEF) chief executive Majid Shafiq described “another busy quarter” as the Canada and North Sea small-cap oil and gas firm reported average production of 22,773 barrels oil equivalent per day (boepd) for its first quarter, up 24% on the previous year’s number.
It comes after the company delivered eight successful new wells as it kicked off its 2023 capital investment programme across its core Central Alberta, Wapiti and Clearwater assets.
Shares in Prospex Energy PLC (AIM:PXEN) moved on the front foot in Wednesday’s early deals, as it secured approval in Italy to take the Podere Maiar – 1 well, at the Selva gas field, into production.
The company, in a statement, said that final safety checks on the gas facility at the Selva field in the Po Valley region of northern Italy have been successfully completed and the authorities have issued the formal documentation, enabling the commencement of production.
Sound Energy PLC (AIM:SOU) shot up 28% in early trading after saying it has received a conditioned financing offer from its Moroccan lender of 2.365bn dirham (US$237mln) for the next phase of development for its Tendrara production concession.
The maximum financing provided to the newly incorporated Tendrara Production Concession partner special purpose vehicle is proposed to be 100% underwritten by Morocco’s Attijariwafa bank for a 12-year term.
Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) will bank US$40mln of proceeds from the sale of a package of non-operated wells in Oklahoma and Texas.
The asset package comprises around 200 non-operated wells which are producing around 3,000 barrels oil equivalent per day.
Synergia Energy shot up 13% as it confirmed a successful application in the first North Sea carbon storage licensing round.
German group Wintershall Dea will partner Synergia as operator of the Camelot licence with the two companies operating as a 50/50 joint venture.
The boss of Ithaca Energy PLC (LSE:ITH) has warned the UK could be “starved” of North Sea energy under energy plans proposed by the Labour Party.
Labour leader Sir Keir Starmer last week said the party would grant no licences to explore fresh fields in the North Sea, calling a wait until UK oil and gas runs outs an “historic mistake”.
Predator Oil & Gas Holdings PLC (LSE:PRD) shares shot up in Tuesday’s early deals after telling investors that the MOU-3 well had “multiple zones of interest” and it is being prepared for ‘rigless’ testing.
MOU-3 was drilled to appraise the Moulouya Fan gas project in Morocco.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has told investors that its latest analysis of Project Leonis, the Alaskan acreage it picked up earlier this year, has provided encouragement to the exploration team.
The company, in a statement, said that an initial internal review and interpretation of existing 2D seismic data “revealed a strong seismic-well tie” to the Hemi Springs (HS) exploration well drilled in 1985 and shows “a clear seismic amplitude at the USB prospect level”.
Jersey Oil and Gas PLC (AIM:JOG, OTC:JYOGF)'s successful farm-out of a 50% farm-out share of its Greater Buchan Area (GBA) licences to NEO Energy is indicative of management's dealmaking prowess and the quality of the asset.
That, at least, is the conclusion of finnCap, which update its research on the North Sea explorer. The broker said the move clears the way for JOG to seek further farm-out agreements in pursuit of retaining a 20-25% fully carried interest in the development.
IOG PLC (AIM:IOG) shares skyrocketed 30% on Monday morning after the AIM-listed gas firm laid out plans to maximise cash flow by cancelling North Sea drilling and producing solely from its Blythe hydrogen well.
A contract for the Shelf Drilling Perseverance rig has been cancelled and plans to drill appraisals also side-lined at its Kelham and Goddard prospects in a bid to “maximise production and rebuild cash balances”.
Mosman Oil and Gas Ltd (AIM:MSMN) has confirmed that the Northern Territory Government in Australia has approved an extension to the EP145 licence, covering the company’s Amadeus basin project.
The agreement grants a 12-month suspension to the work obligations at EP145 as Mosman advances its anticipated review and structuring of its Australian interests – which is expected to result in the spin-out of a new separate company (which has been formed and is called Adagio Resources).
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) reported a higher revenue following its non-operated asset acquisitions and progress in the Williston Basin.
At US$41.1mln revenue for the year marked a rise from US$6mln in the prior 12-month period, meanwhile, pre-tax profit was up at US$22.6mln in 2022 versus US$1mln in the year before.