Tlou Energy Ltd (AIM:TLOU, ASX:TOU, BSE:TLOU) has raised A$3mln of new equity through a placing of shares to an entity controlled by Dr Ian Campbell, a high net worth investor based in Sydney and a major shareholder in Tlou.
The company, in a statement, said it is issuing 85.7mln new shares to Campbell at a price of 3.5 Australian cents each.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) told investors that its borrowing base has increased as the company continues to progress its assets in America.
The company, in a statement, said its lender North Dakota-based First International Bank and Trust (FIBT) has completed a scheduled semi-annual redetermination of the company's revolving credit facility, resulting in a 30% increase.
Touchstone Exploration Inc's (AIM:TXP, TSX:TXP, OTC:PBEGF) third quarter results chart a company progressing its ramp-up towards an ‘inflection point’ with new, higher volume wells now closer on the horizon.
Cascadura coming online in the first quarter of 2023 is expected to be the major catalyst, from a production growth perspective, though last month’s start-up of the Coho gas operation also moves the needle – adding 1,212 boepd over the first 19 days since first production.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) told investors it will expand its footprint on Alaska’s North Slope after being named “highest bidder” for 10 leases in the latest Alaskan leasing round.
The leases span some 25,600 contiguous acres immediately south of Prudhoe Bay, the company said in a statement, and it is covered by a suite of 3D seismic data and historic well data that the company has access to.
Pantheon Resources PLC (AIM:PANR, OTC:PTHRF) said blockages to the flows from its Alkaid#2 well in Alaska were due to sand introduced during the fracking process, not formation sand, and should be cleared during a clean-up of the well bore.
A unit has now arrived on site to start the clean out but this will mean conservative pumping rates until the process completes.
Hartshead Resources NL (ASX:HHR) has filled the key role of wells manager within its UK Southern Gas Basin Phase I development team through the appointment of industry veteran Stephen McCraith.
McCraith has more than 33 years of experience in the UK North Sea, having delivered major drilling programs in the upstream coal and gas sector.
Rishi Sunak’s “shocking” new gas import deal reveals environmental hypocrisy and a ‘NIMBY’ (not in my back yard) attitude which will cost the British economy, that’s the view of IGas Energy PLC (AIM:IGAS, OTC:IGESF) chief executive Chris Hopkinson.
Hopkinson today joined the Proactive studio to talk about geothermal projects, a separate and less controversial part of the AIM-quoted firm’s UK energy portfolio, though he also spelt out that IGas would not be giving up on the company’s shale gas assets.
Ithaca Energy has confirmed its upcoming London IPO is being priced at 250p per share, the bottom-end of the expected range, valuing the Israeli-owned North Sea oil and gas producer at £2.5bn (US$2.9bn) - down from the £3.1bn indicated a week ago.
Through the public offer the company intends to sell 105mln shares, to raise £262.5mln of IPO proceeds, which would represent 10.4% of the company’s newly enlarged share capital.
BP PLC (LSE:BP.) announced it signed a Memorandum of Understanding with the government of Mauritania on Tuesday, which will see it explore the potential for large-scale green hydrogen production in the country.
“We are already developing one of the world’s most innovative gas projects with the support of the Mauritanian government,” said BP’s Anja-Isabel Dotzenrath.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) has inked a rig contract with CWC Ironhand Drilling (CWC) which will drill the company’s next well at the Paradox basin project in Utah.
The planned State 36-2 LNW-CC well will be the first of three wells designed to further delineate Zephyr's acreage position in the project, the company highlighted in a statement.
Empyrean Energy PLC (AIM:EME) said the development plan for the Mako gas project has been approved by the Indonesian Ministry of Energy and Mineral Resources.
Approval has also been granted for all of the gas from Mako to be exported to Singapore until infrastructure to ship it to Indonesia has been built.
Union Jack Oil PLC (AIM:UJO) has noted partner Egdon Resources' update on three UK onshore fields where it holds a material interest: Wressle (40%), Keddington (55%) and Biscathorpe (45%).
At Wressle in Yorkshire, production has already significantly exceeded forecast expectations with zero water to date, said UJO, and gas monetisation and development of Penistone Flags are the next priorities.
Kinetiko Energy Ltd (ASX:KKO) has spudded its first core well in the Southern Exploration Right 270 in gas-hungry South Africa, designed to test the potential of the southerly dipping basement structures.
The new core well, 270-06C, is about 90 kilometres south of recently completed successful core well 271-23C and is anticipated to encounter deeper sandstone and coals.