Southern Energy Corp (TSX-V:SOU, AIM:SOUC, OTC:MAXMD) has announced it is planning to raise approximately C$38.9 million (£24.5 million) via a proposed prospectus offering and concurrent placing.
The company said the net proceeds from the offering would be used to extend and accelerate the planned drilling program at its Gwinville property, and for general working capital purposes, such as increasing financial flexibility for potential accretive acquisition opportunities.
ADM Energy PLC (AIM:ADME, ETR:P4JC) chief executive Osamede Okhomina has told investors that "2021 was a good year of progress” as it released its financial results statement for the twelve months ended 31 December.
“It was our first full year since almost doubling our interest in the Aje Field which helped achieve a significant increase in revenues over the previous year,” said Osamede Okhomina.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) chair Rick Grant describes 2021, in today’s financial results statement, as “a time of substantial progress in the ongoing transformation of Zephyr”.
“During this period the group evolved from a single project exploration company into a self-sustaining, cash-generating, oil-producing group with a balanced portfolio of operated and non-operated assets located in two established oil producing basins in the US,” Grant said.
Hartshead Resources NL (ASX:HHR) has upgraded the gas resources of its Anning and Somerville fields to the reserve category following an independent technical and commercial audit conducted by ERC Equipoise (ERCE) on phase one development resources.
From this audit, Hartshead has produced a new competent persons report (CPR) with phase one field development 2P (proved plus probable) gas reserves of 301.5 billion cubic feet (52 million barrels of oil equivalent).
Chariot Ltd (AIM:CHAR, OTC:OIGLF) has reiterated its intention to deliver a "prompt" final investment decision (FID) on the Anchois gas development, offshore Morocco.
This would be the final green light required ahead of construction and production, which would unlock what the group described as "material cash flows".
Gulf Keystone Petroleum Limited (LSE:GKP) told investors it has received a US$62mln gross payment, US$48.5mln net, from the Kurdistan Regional Government (KRG).
The payment is for oil sales from the Shaikan field in the month of March, it noted in a brief statement.
Eco (Atlantic) Oil & Gas Ltd (AIM:ECO, TSX-V:EOG) told investors that its 50%-owned Gazania-1 well, offshore South Africa, is due to spud in September.
The company, in a statement, noted that the well will be drilled in 150 metres of water, some 25 kilometres from shore.
Scirocco Energy PLC (AIM:SCIR) chair Alastair Ferguson has told shareholders it is in their own best interests to approve the sale of the company’s Tanzanian assets at an upcoming EGM.
The company earlier this month agreed a deal to sell Scirocco’s 25% stake in the Ruvuma asset, which primarily comprises the Ntroya gas field development project, to Wentworth Resources and a shareholder vote is scheduled for Wednesday, 29 June.
Union Jack Oil PLC (AIM:UJO) has welcomed the conceptual development scheme for the West Newton field on PEDL 183 on Humberside released by operator Reabold Resources PLC (AIM:RBD) today.
The plan envisages a predominantly gas development project with eight recoverable volumes of 35mln barrels of oil equivalent with a sales gas component of 203bn cubic feet (Bcf).
United Oil & Gas PLC (AIM:UOG) has announced the spudding of the Al Jahraa-14 development well on the Abu Sennan licence, onshore Egypt.
Drilling is now underway for the AJ-14 well, which is targeting the Abu Roash C reservoir in the Al Jahraa field, along with the secondary Abu Roash G target. It is scheduled to take 60 days to drill and complete, and will be fully funded from operational cashflow.
Harbour Energy PLC (LSE:HBR) slammed the “seriously flawed” windfall tax in a letter to the Chancellor of Exchequer.
The UK’s biggest oil and gas producer urged Rishi Sunak to rethink the £5bn windfall tax on big companies’ profits.
Jadestone Energy PLC (AIM:JSE) shares dropped in Monday’s early deals as the company reported the suspension of operations at the Montara field offshore Australia, after oil was observed on the surface of the sea adjacent to the floating production, storage and offloading (FPSO) vessel.
A leak was discovered, with a 30mm diameter hole found in the bottom of the tank. The company said it has controlled the release of oil and its next step will be to apply a temporary repair, before a further inspection and repair of the tank.
Chariot Ltd (AIM:CHAR, OTC:OIGLF) has signed a front-end engineering and design (FEED) agreement with Schlumberger and Subsea 7, with the trio to form a consortium to fast-track the Anchois gas development project in Morocco.
Adonis Pouroulis, Chariot’s acting chief executive, added: "Signing this agreement with Schlumberger and Subsea 7 is further evidence that we have accelerated development plans for the Anchois Gas Project, a key tenet of our recent fundraising.
Union Jack Oil PLC (AIM:UJO) revealed net sales from the Wressle hydrocarbon development, located in North Lincolnshire on the western margin of the Humber Basin, has reached US$7mln since re-commencement of production on 19 August 2021.
The UK-based onshore hydrocarbon producer, developer and explorer holds a 40% economic interest in the development.
Energean PLC (LSE:ENOG) told investors it will drill more wells offshore Israel as it has extended its rig contract.
The company, in a statement, said it had exercised an option in its contract with Stena Drilling for two further wells, which will be added to the 2022 campaign.
Cloudbreak Discovery PLC (LSE:CDL) said it has engaged Precision GeoSurveys to conduct high-resolution helicopter-borne magnetic surveys over its Northwestern Portfolio, comprised of the Northern Treasure, Rizz, Icefall and Atlin West projects, in British Columbia, Canada.
The primary goal of the surveys is to identify prominent, potentially mineralised structures and to help determine targets for ground-based exploration.