Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) has begun the main drilling operation at the State 36-2 LNW-CC-R well, part of the Paradox Basin project in Utah.
The well targets the Cane Creek reservoir, and its expected to reach a total depth of 10,362 feet.
Sintana Energy Inc (TSX-V:SEI, OTCQB:SEUSF) has snapped up a stake in some the of last remaining acreage in Namibia’s Orange basin hotspot, acquiring a material interest in the PEL 79 licence block located to the east of the ‘world-class’ Mopane discovery.
The Canadian exploration company holds around 5% of Galp-operated Mopane, which was confirmed as a significant commercial discovery by the Portuguese firm earlier this week.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) told investors it has successfully completed the bookbuild for its placing, raising £5.23 million (A$9.9 million) of new equity.
The junior oil and gas company, in a statement, said it will issue 3.29 billion new shares priced at A$0.003 each.
Baron Oil PLC (AIM:BOIL) has announced boardroom changes to bolster the management team under recently appointed chief executive Andy Butler.
“The refreshed board and executive team are committed to building shareholder value, strong governance and transparency," Butler stated.
HeLIX Exploration PLC (AIM:HEX) told investors it has engaged Treasure State Drilling, with a rig contract for the company’s planned appraisal drill programme in Montana.
Treasure State Drilling will provide its Cardwell KB-150 D1D drilling rig for the programme that’s slated for the third quarter.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) today announced an equity raise of up to A$9.8 million with the proceeds earmarked to fund the continuing development of its key projects.
The placing, managed by brokers Cavendish and EurozHartleys, is priced at 0.3 Australian cents per share. The company can issue up to 3.29 billion new shares – for an equivalent value of A$9.8 million or £5.23 million.