Over at Savannah Petroleum PLC (LON:SAVP) shares shot up as it told investors it had successfully brought in US$40mln in an over-subscribed placing to help it develop its promising oil assets in Niger and as trading in its shares was restored.
Andrew Knott, chief executive, said today: "This fund raise was oversubscribed and has been extremely well supported by both existing and new shareholders who we thank, as well as by the management team.
TomCo Energy Plc (LON:TOM ) told investors it has secured an extension to a construction permit for the Holiday Block oil shale project, in Utah.
The permit has been extended to July 2020, the company revealed. And, as a result, it now has the same term as the project’s existing ground water discharge permit.
Aminex plc (LON:AEX) is to raise around £19.5mln, with the funds to be largely used to finance the drilling of exploration wells.
The company is intending to issue around 1.5bn shares at 1.3p, of which some 983mln will be placed to a cornerstone investor, Eclipse Investments, which is part of the Zubair Corporation.
Canadian Overseas Petroleum Limited's (LON:COPL CVE:XOP) assets are worth up to four times its current market value suggests broker Shore Capital.
On a risked basis, the broker estimates the assets are worth 16p compared to the current market price of 4p.
Shares in Northern Petroleum (LON:NOP) were marked 5% higher in Friday morning trade after a guardedly optimistic business update.
Although output from its operation in Alberta, Canada, was hit by heavy rain in May and June, the exit rate was 500 barrels of oil a day – 100 barrels above target.
Savannah Petroleum PLC (LON:SAVP) is raising up to US$40mln to help it take the next step in developing its promising oil assets in Niger.
Savannah is issuing new shares at 38p each with existing and new investors to carry out seismic studies of an area covered by the R3 production sharing agreement (PSC) in the Agadem Rift Basin in the south-east of the African nation.
Southern Africa-focused energy supplier Tlou Energy PLC (LON:TLOU) has been selected to develop a 50 megawatt (MW) coal-bed methane (CBM) power plant by the Botswana government.
Shares in the energy company were up nearly 18% on the back of the announcement.
Plastics Capital Plc (LON:PLA), maker of niche plastics products, said it had enjoyed a strong year of “acquisition-led” growth – a period in which sales grew 28% and profits were up 11%.
An “excellent” first-year contribution from Flexipol, bought for in November 2014, was flagged up in the results statement. The industrial division also had a “good year”.
Aminex plc (LON:AEX) and Solo Oil PLC (LON:SOLO) have revealed that gas production operations at the Kiliwani North field in Tanzania has reached 30mln cubic feet per day.
The rate, which equates to 5,000 barrels oil equivalent per day, was achieved over the week and it following a ramp up since gas flows began in April.
Shares in Sound Energy PLC (LON:SOU) powered up after its partner on the Tendrara licence in Morocco expressed an interest in helping it build a pipeline.
The stock revved up 1.25p, or 6.2%, to 21.5p as Sound said Oil & Gas Investment Fund (OGIF) was interested in funding, building and running the link between Tendrara and the Gazoduc Maghreb Europe pipeline.
Experienced director at Sound Energy PLC (LON:SOU) Stephen Whyte has been elevated to the role of non-exec chairman of the oil and gas firm with immediate effect, the firm said.
He has over 25 years' experience in the oil and gas industry and was chief operating officer atGalp Energia for three years and prior to that spent a further three years as senior vice president commercial at gas behemoth BG Group (LON:BG.) and 14 years at Royal Dutch Shell Group (LON:RDSB).
Mosman Oil And Gas Ltd (LON:MSMN) announced its next corporate step in a statement after Friday’s stock market close, revealing a new investment in a Canadian oil and gas producer.
The AIM quoted firm said it had invested C$380,000 in cash into Hemisphere EnergyCorporation (CVE:HME), which owns producing assets in south east Alberta where output in the first quarter of this year amounted to 508 barrels oil equivalent per day.
A number of UK based onshore oil firms have agreed to next licence terms for certain exploration and appraisal project, in return they have had the current phase of the licences extended by a further year.
Egdon Resources Plc (LON:EDR) has, among other licence amendments, extended the term for the ‘drill ready’ North Kelsey and Biscathorpe oil prospects which are hosted in PEDL241 and PEDL253 respectively, and are part owned by Union Jack Oil and other partners.