Lansdowne Oil & Gas Plc (LON:LOGP) shares shot up around 160% on Thursday with the news that a potential farm-in partner has entered into an exclusivity agreement and is engaging in ongoing negotiations for a stake in the Barryroe field.
Provisional agreements have been made with the unnamed potential new partner, over the key commercial terms of a deal, Providence Resources revealed in a stock market statement.
Providence holds 80% of Barryroe and it is presently the operator of the project. Changing hands at 1.99p, Lansdowne shares were up 1.16p or 140.9%. Providence, meanwhile, rose 23% to trade at 7.25p.
Without discernible news a number of other small cap oilers were moving.
Eco Atlantic Oil & Gas Plc (LON:ECO) shares were up 6.5%.