Helix Exploration PLC (AIM:HEX) has acquired the Rudyard project, a helium exploration site in Hill County, Montana, adding a proven project that spans some 5,600 acres
It is making an upfront payment of $250,000 in cash and 600,000 new shares.
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) jumped 15% after the Colombia-focused oil group reported that its first horizontal well on the Carrizales Norte prospect was flowing ahead of expectations.
The new well, CNB HZ-1, is flowing at a restricted rate of 3,150 barrels a day gross and 1,575 net to Arrow with less than 1% water cut while still recovering load fluid, it said.
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) said results from the first horizontal well on the Ubaque formation at Carrizales Norte in Colombia had exceeded expectations.
On the Carrizales Norte "B" pad, the new well, CNB HZ-1, is flowing at a restricted rate of 3,150 barrels a day gross and 1,575 net to Arrow with less than 1% water cut while still recovering load fluid.
Baron Oil (AIM:BOIL) confirmed it had entered year-three of the TL-SO-19-16 (Chuditch) Production Sharing Contract offshore the Democratic Republic of Timor-Leste.
As a result, a bank guarantee has increased from US$1 million to US$2 million (net to Baron) with other funding initiatives progressing, said a statement.