88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) told investors it had A$10.5mln of cash at the end of the quarter to 30 June, as management and investors eye nearby third-party well drilling.
The AIM-quoted exploration share is up some 93% over the days since Alaska neighbour Pantheon Resources began drilling the Alkaid-2 well, which aims to confirm and production test an existing discovery with a horizontal well.
ADM Energy PLC (AIM:ADME) saw its shares nearly double after a deal involving a block in Nigeria where it holds a stake.
PetroNor E&P Limited is buying an economic interest of 12.19% in OML 113, which contains the Aje oil and gas field, for up to US$26.67mln from Panoro Energy.
Serica Energy PLC (AIM:SQZ) confirmed it has rejected the merger proposal made by Kistos PLC (AIM:KIST), dismissing it as undervaluing Serica and increasing risk to its balance sheet.
It comes after Kistos yesterday revealed it had rejected a merger proposal made by Serica.
Tullow Oil PLC (LSE:TLW) has retained its production guidance of 59,000 to 65,000 barrels of oil equivalent per day (boepd) for the full year ahead of its merger with Capricorn Energy.
In a trading statement issued ahead of interim results due for publication in September, the oil company said it generated some US$800mln of revenue in its first half, supported by a realised oil price of US$107 per barrel (averaging US$87 per barrel after hedging).
Kistos PLC (AIM:KIST) is pitching a merger with Serica Energy PLC (AIM:SQZ) to create “an independent North Sea champion”, urging Serica’s shareholders to push its management into constructive discussions.
In a stock market statement, Kistos detailed a timeline of approaches and negotiations through the months of May, June and July – in which the two companies were talking under non-disclosure agreements (NDAs) and an offer was made by Serica.