Canadian Overseas Petroleum Limited (LON:COPL, CVE:XOP) hired Aleksandra Owad as its new chief financial officer.
Owad takes over the role from Kristin Obreiter, who leaves for personal reasons amid a relocation of the group’s offices. Owad was the group’s CFO previously, up until October 2013.
In other news, Andes Energia PLC (LON:AEN) reported that production rates from operations in its portfolio amounted to 3,532 barrels oil equivalent per day in April, which was broadly in line with previous months.
Production volumes from Argentina - where it has the Chachahuen, Chanares Herrados, Puesto Pozo Cercado, Vega Grande, La Brea and El Manzano fields – totalled 2,388 barrels per day.
KrisEnergy holdings Ltd (SGX:SK3) reported a strong quarter of production with output up 146% year-on-year at a rate of 19,014 barrels oil equivalent per day, compared to 7,699 boepd in the same period of 2015.
Revenue for the three months to March 31 amounted to US$33.1mln, up 189% from US$11.4mln last year, and earnings had grown by 112% to US$19.7mln from US$9.3mln.
Worldview International is set to take control of Petroceltic International Plc (LON:PCI) as it proceeds with a new investment agreement, which has been backed by the company’s examiner.
Petroceltic was put into examinership - an Irish bankruptcy protection process similar to America’s Chapter 11 bankruptcy - in March.
LGO Energy Plc (LON:LGO) told investors that group production for the first quarter of 2016 averaged 574 barrels of oil per day, and efforts to raise output in Trinidad continue to see success.
The Trinidad-focussed oil junior continues to take low cost opportunities to add production whilst it recovers financially from a tough period of low oil prices and uncertainty over its funding position.
MX Oil Plc (LON:MXO) shares plummeted in Wednesday’s early as it dropped recently acquired Mexican assets and revealed its Nigerian oilfield sale had stalled.
Losing 36% to change hands at 0.53p, the junior oil share was AIM’s biggest faller in early deals.
Premier Oil Plc (LON:PMO) is now expecting oil production for 2016 to be at the top end of expectations thanks to its recent North Sea acquisitions and the start-up of the Solan field.
Solan began producing in April and in a trading update, covering four months, Premier Oil said the field’s first well had seen rates of up to 14,000 barrels of oil per day.
Cluff Natural Resources Plc (LON:CLNR) has announced a new North Sea acquisition, with the junior explorer picking up stakes in Parkmead Group operated projects.
It is acquiring 5% of both the Fynn and Penny prospects, which are seen above a significant volume of previously discovered heavy oil.
Iofina plc (LON:IOF) confirmed it remained on track to produce 250-270 metric tonnes of crystalline iodine in the first half of 2016 as it unveiled results for the last financial year.
The figures for the 12 months to December 31 revealed the company made an operating profit (EBITDA) of US$492,000 on revenue of US$20.3mln, while the pre-tax loss narrowed US$3.31mln.
Range Resources Ltd (LON:RRL, ASX:RRS) has decided to drill a follow up to the successful, recently drilled MD-250 well from the same drill pad.
This well, named MD 51-2, will be a directional well and it will reach a total depth of 3,900 feet. The plan is to test the Forest and Cruse sands, both of which were encountered in MD 250.
Independent Resources plc (LON:IRG) has secured an extension for its Ksar Hadada permit in Tunisia until August 6 2017.
The AIM quoted exploration group highlighted that it continues to progress talks with potential farm in partners, which would fund future exploration activities for the project.
Independent Resources plc (LON:IRG) also told investors it has cut indebtedness and reduced cash outgoings.
The company has agreed to swap new equity for debt with trade creditors as well as certain directors.
Some £297,989 of debt to trade creditors will now be satisfied with the issue of 245mln new shares (some priced at 0.1p and some at 0.25p).
Northern Petroleum Plc (LON:NOP) has updated investors on a month impacted by unexpected weather at its operations in Canada.
The company told investors net production averaged 449 barrels per day between April 1 and April 18, before regional trucking operations were restricted through the second half of the month due to an expected annual spring thaw which caused wet and difficult road surface conditions.