Mosman Oil & Gas (LON:MSMN), having teased us previously about acquisition plans, has revealed it is to acquire producing assets in New Zealand.
It is paying NZ$10mln (£4.2mln) to Origin Energy to buy the STEP project, which includes the Rimu, Kauri and Manutahi fields.
Since being refurbished, the project has been producing an average of 603 barrels of oil equivalent per day, which at current energy prices and exchange rates generates around NZ$8mln of revenue a year.
Oilex (LON:OEX) continues to sell gas from the Cambay field into the local market with 100% availability, and it is currently advancing towards a ramp-up in volumes with additional wells set to be added to the operation.
Currently the field’s production comes from the Cambay 73 well, at a rate of 26 barrels oil equivalent per day, though a new temporary pipeline has now been connected which will see three of the fields ‘legacy’ wells added.
Importantly, the temporary pipeline also connects the most recently drilled Cambay 77H well.
Sector peer Magnolia Petroleum (LON:MAGP) also remains cash generative and said it is profitable despite reduced oil prices.
A production update today revealed output of 309 barrels oil equivalent per day, as at August 1, which is an increase from 281 boepd since the start of 2015.
Mart Resources (CVE:MMT) said Umusadege, an oilfield in Nigeria in which it has an economic interest, produced an average of 18,460 barrels per calendar day last month.
That's an increase on the June figure, which saw an average of 15,750 barrels produced.
Total production from the field in July was around 572,200 barrels of oil, against 472,500 barrels in June.
Cluff Natural Resources (LON:CLF), a pre-revenue company, reported a £744,668 loss for the six months to June 30, and the company ended the period with £1.94mln of cash.
The company’s efforts towards making a planning application for the Kincardine underground coal gasification (UCG) project, in the Forth of Firth, have been put on hold amid political uncertainty in Scotland.
Petroceltic International (LON:PCI) has hired the finance director of training and recruitment firm Progility to its board.
Hugh Cawley, who has been at Progility since March, will join the firm as a non-executive director with immediate effect.
In other board room news, ATTRAQT Group (LON:ATQT) is reshuffling its board after its chief finance director announced he is to retire at the end of next month.
Mark Johnson is to become the new finance director from 25 September, replacing the outgoing David Stirling.
In other news, Sirius Minerals (LON:SXX) chief executive Chris Fraser said the pieces of the “planning jigsaw” are coming together for its York Potash Project near Scarborough.
Having received planning permission, it now has decision notices for the mine and mineral transport system, the materials handling facility, temporary construction site and an extension to the current Park and ride scheme.
In the same announcement, Sirius said the development consent order for the harbour facilities at Teesside had been “accepted for examination”.
Further afield, Ortac’s (LON:OTC) big game hunting expedition in Zambia intensified today after the company exercised a US$600,000 call option in local exploration operator Zamsort.
Zamsort has the rights to a significant swathe of ground at Kalaba on the eastern end of the famous Zambian copper belt, not far from where Kiwara’s discovery in the last boom led to its sale to First Quantum (LON:FQM) in a deal worth hundreds of millions of dollars.
The plan is to repeat the same trick, or something similar, on the Kalaba project, backed by money from Ortac.
It’s a new era now for Mwana Africa (LON:MWA) after the departure of long-standing chairman Kalaa Mpinga and the appointment of major shareholder Yat Hoi Ning in his place.
And Mr Ning conceded in the opening remarks of his chairman’s statement covering the first quarter to June 2015 that the recent quarter was not “without its challenges.”
Even so, the company managed to boost gold production at the flagship Freda Rebecca mine in Zimbabwe while cutting all-in sustaining costs to US$1,093 from US$1,429 in the previous quarter.
The average gold price received was US$1,186 per ounce.
Premier African Minerals (LON:PREM) revealed modifications to the processing plant at the RHA project have now been installed.
The company added that the anticipated operational benefits of the plant have also now been confirmed.
The plant’s throughput has now improved and further optimisation is continuing.
The recently completed mining resource estimate for the BK11 kimberlite diamond mine in Botswana is in line with Tango Mining’s (CVE:TGV) expectations, the company revealed.
The estimate is based on the evaluation of 6,392 metres of core drilling and 1,473 metres of large diameter drilling and is considered a conservative one by the qualified persons that completed the analysis.
The company revealed the inferred resource is 17.4mln tonnes (Mt), containing 780,820 carats, of which around 9.0 Mt averages 6.8 carats per hundred tonnes (cpht) for a Total of 608,000 carats. Higher grade areas of 9.8 cpht have also been identified.
DekelOil (LON:DKL) said it has made "significant progress" towards being formally recognised a producer of sustainable palm oil.
Ultimately it is aiming to become the first company in West Africa to certified by a world body called the Round Table for Sustainable Palm Oil (RSPO).
The environmental and social consulting group, Proforest, will help get the mill signed off first, with the palm plantation certification coming three years after
Finally, ReNeuron Group (LON:RENE) confirmed it had raised £68.4mln in a share issue after it gained shareholder approval.
The funds will be sufficient to pay for ReNeuron’s existing therapeutic programmes through to 2019.