Tower Resources’ signing of a rig contract for the NJOM-3 well would be the catalyst for a farm-in partner to come on board and complete the required financing for the well, house broker SP Angel suggest in an initiation note.
NJOM-3 is offshore Cameroon and Tower believes there is now enough flexibility and availability in the jack-up market to contract a rig to drill the key appraisal well, which if successful, potentially unlocks a commercial development.
Chariot Ltd (AIM:CHAR, OTC:OIGLF) has inked a partnership with Energean PLC (LSE:ENOG) for the Anchois gas development with the FTSE-250 gas producer providing funding for the development potentially through to ‘first gas’.
The deal also sees Chariot receive a series of cash payments, subject to project milestones.
Gold Hydrogen Ltd (ASX:GHY) has received firm commitments for A$14.8 million institutional placement at $0.75 per share to fund and advance a work plan for the Ramsay Project in South Australia.
The offering, aimed at existing and new institutional and sophisticated shareholders, was significantly oversubscribed, underscoring strong market confidence in the company's prospects.
Tamboran Resources Ltd (ASX:TBN, OTC:TBNRF) has successfully completed the stimulation program at the Shenandoah South 1H (SS-1H) well in the Beetaloo Basin of Australia’s Northern Territory.
The 10-stage stimulation program was carried out over a 500-metre (1,640-foot) horizontal section of Mid-Velkerri B Shale.
Tower Resources PLC (AIM:TRP) shares can be worth triple the current market price, that’s according to stockbroker SP Angel which today initiated its coverage of the energy transition firm with a ‘Speculative Buy’ rating.
It comes as Tower counts down and prepares its drill plans for what SP Angel describes as an attractive fast-track oil development opportunity and exploration upside.
Quadrise PLC (AIM:QED)'s recent advancements in bioMSAR fuel technology, as detailed in their latest tests, have garnered positive reactions from industry analysts, including those at Shore Capital.
The broker's recent note underscores the significant potential of innovations in sustainable marine fuel, particularly in light of the global push towards greener energy solutions.
Quadrise PLC (AIM:QED) stock got a boost today after it unveiled positive final results from the sustainable biofuel testing programme that it finished last month.
The results of the tests are expected to help Quadrise reach its objective of developing a commercially competitive net-zero fuel, ‘bioMSAR Zero’, to launch by 2030.
Mosman Oil and Gas Ltd (AIM:MSMN) has told investors that production volumes at the Stanley project, in Texas, have improved following the installation of new surface and downhole equipment.
The phase of production optimisation leaves Stanley producing around 90 barrels of oil per day, Mosman said in a statement, which also noted that its operating costs had reduced.
Quadrise PLC (AIM:QED) has unveiled the latest results from its bioMSAR fuel testing that reveal new pathways towards sustainable marine and industrial fuels.
Ultimately, the idea is to create products that are not just lower in cost, but more efficient, safer, simple to use, and, crucially, generate the fewest harmful emissions.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has received a US$2 million injection of funds from partner Burgundy Xploration, partially settling outstanding cash calls under the joint venture.
Prior to the new payment, the outstanding call was for US$3.745 million and AIM-quoted 88 Energy today noted that it has now entered into a 'standstill' agreement with Burgundy, giving it until 31 January 2024 to pay the remaining US$1.745 million.
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) told investors it has now sourced and purchased the necessary replacement part for its drill rig and it is expected on-site "within the next three weeks".
Additionally, Helium One noted that a specialist hydraulics engineer has been reviewing the rig and the company is confident that these issues have now been rectified.