88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) confirmed its diversification and expansion after its proposed initial investment in Namibia was given the green light.
The company, in a statement, said that the Namibian Ministry of Mines and Energy had now approved the transfer of a 20% working interest in Petroleum Exploration Licence 93 (PEL 93), onshore in the Owambo Basin.
EnergyPathways PLC (AIM:EPP) has signed up contractor MCS Subsea Solutions and Mermaid Subsea Services (UK) to provide services as the AIM-quoted North Sea company advances its front-end engineering design (FEED) for the Marram gas field.
Marram, located offshore north west England, is described as a “short cycle low emission gas field” that could come online in 2025.
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) has updated on its operations in Colombia where, in the Tapir block, it has advanced the CN-4 and CN-5 wells.
The company, holding a 50% interest in the project, told investors that the CN-4 well has been drilled to a depth of 9,552 feet, targeting the Ubaque formation, and encountered 29 feet of true vertical depth net oil pay.
Mosman Oil’s planned Stanley workover programme in the US represents another positive result for the group, according to house broker SP Angel.
Analysts said it should increase the value if Mosman monetises the asset in the healthy Texas M&A market, and can add value overall if the proceeds are used to upgrade the Cinnabar wells to fulfil their full potential.
Quadrise’s collaboration with BTG (LSE:BTG) Bioliquids (BTL) and Euthenia Energy Group adds another multinational company to the list of those that have acknowledged its solutions for decarbonisation and committed to an agreement, says Shore Cap.
BTL has been working with Quadrise since June but Euthenia is a new partner focused on developing, financing and operating renewable energy projects.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) said preparation for the flow testing programme at its Hickory-1 well site is proceeding smoothly with all operations following the scheduled timeline and no significant issues.
This pivotal testing programme aims to confirm the commercial viability of the well's discoveries, which if successful will be a significant catalyst for the company and its investors.