Cluff Natural Resources (LON:CLNR unveiled a third party assessment of its North Sea acreage, which estimates some 845 billion cubic feet (BCF) of gas across four licences.
The new competent person's report has been produced for the company by independent consultant Axis Well Technology, and it is described as one of a number steps in the evaluation of these licences.
It was the big news in the small cap oil space, which also saw UK Oil and Gas (LON:UKOG) has receive consent from the Environment Agency to carry out a flow test at the keenly watched Horse Hill-1 well near Gatwick.
The explorer created huge excitement in April, when it said the well, drilled into the Weald Basin under Dorset, Surrey and Sussex, had discovered more than a hundred billion barrels of oil.
Over in the US, 88 Energy (LON:88E) has confirmed an active petroleum system across its Project Icewine acreage in Alaska in its shallower secondary target.
The firm, which is currently drilling its first well to a depth of 11,600 feet, encountered higher than expected levels of gas at between 10,011 and 10,121 feet.
Moving south, Nostra Terra (LON:NTOG) is to section out and consolidate the “most highly prospective” 1,280 acres of the Paw Paw prospect, in Wyoming, into a single exploratory unit.
The company said it has been given approval by the US Bureau of Land Management for this plan.
Even further south, MX Oil (LON:MXO) told investors it has now been pre-qualified, together with its partner, for the third phase of Mexico’s licensing round for onshore concessions.
The company said it intends to apply for multiple licence areas in the process, which will see a total of 25 land contract areas awarded to oil and gas companies.
Away from North America, China New Energy (LON:CNE) has signed an outline deal to provide its expertise in the development of two African biorefineries: one in Zimbabwe, the other in neighbouring Zambia.
It will be working with Sunbird Bioenergy, a specialist in the field.
Elsewhere, LekOil (LON:LEK) intends to accelerate appraisal work for the Ogo discovery, offshore Nigeria, now that Afrenis no longer part of the joint venture group.
This week a deal was confirmed for LekOil to acquire Afren’s stake in OPL 310, which hosts Ogo, for US$13mln.
LekOil highlighted that other prospects within OPL 310 will also be explored in 2016.
Finally, Range Resources (LON:RRL) has spudded the third of a 22 well development programme on its acreage in Trinidad.
GY 161 S, the second development well on the Beach Marcelle field, is drilling to a total depth of 2,000 ft.