Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) announced that drilling has commenced at the Kavango West 1X exploration well in Namibia.
The Kavango West 1X exploration well, also referred to as Prospect I, was spud on July 31.
Was it all a dream? Some kind of fevered hallucination? Did I suffer a head injury? Had I woken up in 2012? Or was I witnessing a glitch in the Matrix?
I had to pinch myself to check this morning, 31 July 2025, as I wrote the words ‘Rockhopper Exploration launches equity placing to fund Sea Lion development in the Falklands’.
Shell PLC (LSE:SHEL, NYSE:SHEL) shares started strongly on Thursday, rising 2.74%, after confirming it is continuing buybacks despite softer financials in the second quarter.
Income attributable to shareholders amounted to $3.6 billion for the quarter, down 25% year-on-year and down 25% compared to the first three months of the year.
Rockhopper Exploration PLC (AIM:RKH) has launched a $140 million equity raise to fund the Phase 1 Sea Lion oil field development in the Falklands.
New shares will be sold at a price of 53p, and investors will also receive share warrants (exercisable at 80p).
Petro Matad Limited (AIM:MATD, OTC:PRTDF) has reported continued stable production from its Heron-1 well at rates between 150 and 160 barrels of oil per day with a water cut of less than 3%.
To date, around 46,000 barrels have been produced and exported under an agreement with PetroChina.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) chair Rick Grant has told investors he is expecting “a prolonged period of positive news flow”, as the company advances its assets in Utah and progresses its portfolio of production assets.
Grant’s comments come in a statement ahead of today’s AGM, taking place in London later today.
US liquefied natural gas (LNG) producers were boosted on Monday by a new trade agreement between the EU and the US, under which the EU has pledged to purchase $750 billion of US energy products.
The EU will spend $250 billion per year over the next three years on energy products, including LNG, as it seeks to reduce its dependence on Russian gas.
Tamboran Resources Corporation (ASX:TBN, NYSE:TBN, OTC:TBNRL) has appointed chairman Dick Stoneburner as interim chief executive officer, following the departure of Joel Riddle. The board has engaged an executive search firm to identify a permanent CEO, while Stoneburner will temporarily serve as both chair and CEO.
Operational continuity will be maintained by chief operating officer Faron Thibodeaux and chief financial officer Eric Dyer, who will support Stoneburner during the ongoing three-well drilling program and lateral stimulation activities in the Beetaloo Basin.