Namibia’s oil boom has this week moved closer to home for AIM-quoted explorer Tower Resources PLC (AIM:TRP), as US major Chevron agreed a deal to take control of an offshore block in the Walvis basin.
Attentions have mainly been on the Orange basin recently as a series of large-scale, ‘world class’ discoveries have spurred an influx of industry interest in an oil play that straddles both Namibian and South African waters.
Chariot Ltd (AIM:CHAR, OTC:OIGLF) has kicked off drilling operations at the Loukos licence, onshore Morocco.
The Africa-focused small-cap transitional energy firm is drilling the RZK-1 well, targeting the Gaufrette prospect which has been estimated to host some 10 billion cubic feet of recoverable prospective resources.
Quadrise PLC (AIM:QED) has announced an extension of a joint development agreement (JDA), with Vertoro BV, for its bioMSAR Zero sustainable marine fuel.
The proposed sea trial is part of a collaboration aimed at creating a sustainable fuel solution for luxury yachts.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) today saw a key project milestone the promises to help kick-start field development in Alaska, that’s according to stockbroker WH Ireland.
The company, in a statement this morning, unveiled the latest significant estimate of resources in Alaska, with an independent consultant detailing the Ahpun field specifically.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has unveiled the latest significant estimate of resources in Alaska, with an independent consultant detailing the Ahpun field specifically.
According to a report by consultant Lee Keeling & Associates (LKA) the Alkaid horizon at the Ahpun Field currently has reserves amounting to 5 million barrels of oil reserves and 27 billion cubic feet of natural gas.
Mosman Oil and Gas Ltd (AIM:MSMN) has received final government approval for its EP 145 farm-in deal, effectively greenlighting its helium and hydrogen project in Australia’s northern territory.
Greenvale Energy is earning a 75% stake in the project through the transaction, by committing to up to A$5.5 million of investment in exploration work.
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) chief executive Marshall Abbott described 2023 as “a great year on all fronts”, as the company released its full-year financial results statement.
“We saw substantial growth in production, revenue and EBITDA and our healthy balance sheet supports the aggressive capital program planned for 2024,” the Arrow boss said.