Columbus Energy Plc (LON:CERP) has wrapped up its pre-Christmas investor update, with the executive chairman Leo Koot saying that production targets have been met and exceeded.
"Since the annual general meeting in September, Columbus has continued to deliver at pace upon our wholesale change in strategy and has focused on our target of increasing the company's production in Trinidad to over 550 bopd and becoming cash flow positive by year-end 2017,” Koot said in a statement.
“It is my pleasure to announce that we have achieved and exceeded these targets, with the company achieving production of 561 bopd within the past week and will be generating more cash than we are spending on our day to day activities across the group as we enter 2018.”
Sound Energy PLC (LON:SOU) has had validation of its own in-house estimates at the Tendrara gas project onshore Morocco.
The company, in a stock market statement, revealed that preliminary results of a volume certification process (being conducted by consultant RPS Energy) regarding the TE-5 Horst well location validate the group’s prior estimate, which put mid-case gross Gas Originally in Place at some 0.63 trillion cubic feet.
Cabot Energy PLC (LON:CAB) is to increase ownership of its Canadian assets, acquiring a 25% stake that it didn’t already own in a deal worth US$8.71mln.
At the same time, it is raising US$16.5mln of new funds through a share sale, with new shares priced at 5p each.
Echo Energy PLC’s (LON:ECHO) has resumed trading on London’s AIM market, following the release of an admission document on the proposed acquisition of assets in Argentina.
The acquisition comes with an equity sale, with nearly 48mln new shares being issued to investors at a price of 17.5p apiece.
PowerHouse Energy Group PLC (LON:PHE) has identified a site for its first commercial distributed modular gasification (DMG) system.
The company has signed a heads of terms agreement with Peel Environmental for a 25-year lease on a one-acre site conveniently located near the University of Chester’s Thornton Science Park where the PowerHouse G3-UHt research demonstrator is operating.
Victoria Oil & Gas plc (LON:VOG) told investors that its third quarter results are in-line with expectations as it gave an update ahead of the close of 2017.
The company highlighted that it has had an ‘extremely active’ few months in its Gaz Du Cameroun subsidiary.
It has signed up five gas customers during the period; Maya & Co Oil (a palm oiil refinery), SAE (food processing), PROMETAL 3 (a smelter, new plant for existing customer), UCB (brewery, returning customer), and Laminoir (foundry, returning customer).
Eland Oil & Gas PLC (LON:ELA) has confirmed the completion of the Opuama-8 infill well in Nigeria.
The well was drilled down to a vertical depth of 8,071 feet, and it encountered seven oil bearing reservoirs. Total pay across the seven zones has been measured at around 160 feet.
North Africa junior oiler SDX Energy Inc (LON:SDX; CVE:SDX) has begun well operations on the ELQ-1 well at the Gharb Centre permit in Morocco.
ELQ-1 is the fourth well in SDX’s nine well campaign and the first of two commitment wells planned at Gharb, which was acquired over summer from Circle Oil.
Greka Drilling Ltd (LON:GDL) updated on contracts in India and China, where in the latter country, it has been awarded two deals estimated to be worth around US$2.1mln.
PetroChina Huabei Oilfield Limited, or PetroChina, which is a subsidiary of CNPC, has awarded Greka the work for its ANZE block.