The week ended with Alaska- focused 88 Energy ltd confirming it is currently looking to raise between £5.43mln (A$10mln) and £8.14mln (A$15mln).
The company told investors the potential funding would be priced at 1.9p (3.5 Australian cents).
Earlier today, in a brief stock market statement, 88 Energy told investors that trading in its Australian securities had been suspended on April 20 pending an announcement in relation to a potential capital raising.
The company is seeking funds following the breakthrough success with the first well at Project Icewine, on Alaska’s North Slope, where a potentially very significant shale discovery has been confirmed.
The success in Alaska saw 88 Energy shares rise as much as 800% through the first four months of 2016, and the company is now looking to follow up the encouraging early results
Meanwhile, on the same day, Providence Resources Plc (LON:PVR) told investors that Schlumberger’s state-of-the-art subsurface analytics have helped outline some 5bn barrels of prospective resources in Ireland’s Atlantic Margin.
Whilst the group’s financial situation appears uncertain, the latest technical update reflects the inherent long term potential within the Providence portfolio.
It represents a significant upgrade to the previous estimates of the project, and is the result of a six month collaboration between Providence, joint venture partner Sosina and Schlumberger.
The resources are seen in the Druid (3.18bn barrels) and Drombeg (1.9bn barrels) prospects, and assessment of the nearby Newgrange prospect is continuing.
Elsewhere, Andes Energia Plc (LON:AEN) has confirmed group production volumes for the month of February.
The company told investors output for the month amounted to 3,538 barrels per day, up from 3,487 bpd in January.
For operations in Argentina - comprising the Chachahuen, Chanares Herrados, Puesto Pozo Cercado, Vega Grande, La Brea and El Manzano fields - production accounted for 2,316 bpd for Andes’ share.
Also this week, Sound Energy (LON:SOU) said it had started drilling its first well at Tendrara, onshore Morocco.
Spudding took place on 20 April with the drill expected to reach a measured depth of 2,640 metres with coring, logging, completion and testing all parts of the programme.
Final results will be announced after the end of drilling and testing operations, approximately 80 days after the spud day.
James Parsons, chief executive, said it was a significant milestone for the company and should unlock Eastern Morocco's regional gas play and significantly broaden Sound Energy's resource base.
Greka Drilling Ltd (LON:GDL) managed to increase revenues in 2015, despite the well-documented travails of the oil and gas sector.
The Asia-focused independent and specialised unconventional oil & gas driller drilled 62 wells in 2015, up from 45 wells drilled in 2014.
Annual revenues rose to US$29.9mln in 2015 from US$24.4mln in 2014, while underlying earnings (EBITDA) rose to US$2.4mln from US$1.9mln,
At the end of the year the company had cash and bank deposits of US$2.4mln, down from US$8.0mln at the end of 2014; the group subsequently secured a US$5mln debt facility at the end of March.
On Thursday, Range Resources Ltd (LON:RRL) shares leapt as it told investors it produced some 50,148 barrels of oil in the three months to March 31, or 551 barrels per day.
The company said output was in line with its expectations, and highlighted that the next material increase in production would come once new development wells are completed and brought online, and when oil production from ‘waterflood’ enhanced oil recovery commences.
MD 250, the first of four development wells to be drilled this year, has been drilled and has encountered multiple possible production zones. Testing will determine the producing potential of those zones.
Northcote Energy Ltd (LON:NCT) raised £500,000 through a placing of new shares, with the funds earmarked for the group’s Mexico venture.
Proceeds from the placing will be used for the waste remediation facility in Comalcalco, which is now expected to be complete in around 90 days.
The company also highlighted that the plant at Comalcalco is now planned to be larger. The capacity is anticipated to be 20% higher than originally contemplated, it said.