Fox Davies Capital Update featuring Condor Resources, Frontier Mining, Nighthawk Energy, Oilex, Sound Oil, Bellzone Mining

Monday, May 09 2011 by
Fox Davies Capital Update featuring Condor Resources Frontier Mining Nighthawk Energy Oilex Sound Oil Bellzone Mining

Oil & Gas Corporate News

Oilex (LON:OEX) (OEX, 27.13p, ▲ 0.46%) advised that the La Rocca-1 well, WA-388-P offshore Western Australia, drilled to section total depth of 2,220 metres and run and pressure tested casing. Current operation is waiting on weather. The La Rocca-1 well, the first exploration well in the permit, will drill the La Rocca prospect in the Intra Mungaroo channel zone. The well, in the south-western part of the permit, was spudded on 30 April 2011 and is being drilled with the "Ocean Patriot" drilling rig. The well is operated by Apache Northwest Pty Ltd ("Apache").

Nighthawk Energy (LON:HAWK) (HAWK, 5.5p, ▲ 3.77%) announced that Richard Swindells has agreed to join the Board of Directors as Chief Financial Officer to work alongside Chief Executive Tim Heeley and Executive Chairman, Mike Thomsen. Richard will join Nighthawk from Ambrian Partners Limited where he acts as broker and Nominated Adviser to a number of oil and gas and other resources companies. During his three years at Ambrian, he has been responsible for Ambrian's oil and gas investment banking activities and has been involved in raising in excess of GBP275 million in this sector.

Sound Oil (LON:SOU) (SOU, 4.82p, ▲ 2.12%) announce the appointment of Andrew Raymond Hockey as a non-executive director of the Company with effect from today. Mr. Hockey has worked in the energy industry for more than 25 years, both as a petroleum geologist and as an asset manager. He is currently General Manager, Joint Ventures and New Business at Fairfield Energy Limited which he joined from Eni in Milan where he worked on the Kashagan Project between 2002 and 2005. Before joining Eni, Mr. Hockey was responsible for Lasmo plc's portfolio in Algeria, Tunisia and Morocco. He was previously employed as Exploration Manager, Algeria for Monument Oil and Gas and also worked as an exploration geologist for Fina in the North Sea and internationally.

Mining Corporate News

Bellzone Mining (LON:BZM) (BZM, 63.5p, ▼ 0.39%) announced an initial inferred JORC oxide resource at its Kalia Mine Project in the Republic of Guinea. The resource totals 111 million tonnes grading at 38% Fe which can be beneficiated using a standard gravity process to produce a 58% Fe fines product. The oxide resource is located above the existing 3.74 Bn tonne magnetite JORC resource and must be removed prior to starting the magnetite mining operations.

Condor Resources (LON:CNR) (CNR, 7.75p, ► 0.0%) announced assay results from the first 12 diamond core drill holes on the La India Project. The 12 drill holes for a total of 1,045m of drilling were drilled to test for strike and depth extensions to the existing resource at four localities: an infill between two resource blocks on the Guapinol Vein; the eastern and western strike extension of the America-Constancia resources; and the depth and eastern strike extension of the Tatiana Vein. At Constancia, drilling has extended the strike of mineralisation by 300m to the east. Best result was 1.4m at 17.6g/t gold. At Tatiana an infill hole returned an intercept of 0.8m at 10.8g/t gold thereby extends the known strike length of the high grade shoot by 100m.

Frontier Mining (LON:FML) (FML, 3.67p, ▼ 8.13%) announced today that it has signed a Sale and Purchase agreement to acquire the Subsurface Use Contract for the mining deposit known as South Benkala for a total consideration of US$2.5 million. The South Benkala deposit is located approximately 10 kilometres south of the Company's existing Benkala license area. The sale is subject to the Republic of Kazakhstan declining to use its pre-emptive right to acquire. A C2 reserve estimation was done by Soviet geologists in 1979 using drilling data from holes drilled in 1978-79. The deposit is crossed by a railway line that restricts access to approximately 40-50% of the Sulphide (Primary) deposits. In order to access all deposits this railway line will need to be relocated between approximately four to seven years from commencement of mining operations at an estimated cost of approximately $12 million. The Company will now consider two options: to either extend the life of the SX-EW plant at Benkala from 7 to 11 years, or to increase the production capacity of the Benkala plant from 20,000 to 30,000 tonnes per year.

Oilfield Services Corporate News

Rig Count News. The Baker Hughes Rig Count is the key barometer for the oilfield services industry and in particular the drilling contractors. Last week’s data (week ending 06/05/11) remained overall positive for the industry. The U.S. Rig Count is up 18 from the previous week standing at 1836 – close to its recent peak level-, up 334 year over year.

Technip (HOLD) (TEC FP, EUR70.90, ▲ 1.16%) has been awarded by Statoil a EUR55M contract, for the Vigdis NE field development located in the Norwegian Sea. The contract covers: welding and installation of flowlines, including a 1.5 kilometre pipe-in-pipe production flowline and a 9 kilometre plastic-lined water injection flowline and subsea equipment installation.

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Condor Gold plc is a United Kingdom-based gold exploration company. The Company operates projects in Nicaragua and El Salvador. Its projects in Nicaragua include La India, which consists of approximately 281 square kilometers comprises of nine contiguous concessions; The Estrella Concession, covers an area of 18 square kilometers is located approximately 20 kilometers southwest of Siuna; The Potrerillos Concession, which covers an area of 12 square kilometers, contains shafts and adits, testament to brief, interrupted periods of gold mining activity; The Cerro Quiroz Concession, covers an area of 22 square kilometers is located in the Libertad-Santo Domingo gold mining district, and Rio Luna, an exploration project of 43 square kilometers. The Company’s operates El Salvador projects involve El Pescadito, which is located in eastern El Salvador comprises of 95 kilometers and La Calera, which is located 45 kilometers northeast of San Salvador, consists of a single concession. more »

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Nighthawk Energy plc is a United Kingdom-based independent exploration and production company. The Company, through its subsidiaries, is focused principally on the development of oil exploration and production assets located in and around Lincoln County, Colorado, United States. The Company's primary business activity is the exploration for, development and sale of, hydrocarbons. The Company's two primary projects, Smoky Hill and Jolly Ranch, comprise more than 300,000 gross acres within the southeast flank of the Denver-Julesburg Basin. Its subsidiaries include Nighthawk Royalties LLC, Nighthawk Production LLC and OilQuest USA LLC. more »

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  Is Condor Gold fundamentally strong or weak? Find out More »

5 Comments on this Newswrap show/hide all

Alina Smith 2nd Sep '11 1 of 5

This is true that condor blanco is extracting various types of mines underneath the earth.There are various types of mines like gold ,iron and oil etc.Glen darby the managing director of the company is managing it very well that they are getting the best deals.To join Glen Darby on Facebook join

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Alina Smith 7th Sep '11 2 of 5

That's great that mining deals are increasing day by day and condor mines the biggest mine company is extracting mines in huge amount.Our soil is mineral rich that provides various types of minerals like gold and iron etc.

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Alina Smith 26th Sep '11 3 of 5

Today Condor Blanco has become the world top most mines extraction company.This is just due to the success this company achieved and this due to the great managing director Glen Darby

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Maria Jose 28th Nov '11 4 of 5

Mine extraction is a difficult task because it requires huge amount of labor's effort. There are various techniques of extraction mines. This article mention various types of mines and also different technique of mining.

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Maria Jose 9th Jan '12 5 of 5

There are many companies in this world for mining extraction but the condor mine is the leading one. In condor mines there are various types of mines extraction are done like gold, uranium coal etc.Above article different types of techniques for the mine extraction purpose. I really agree with this article.

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About Fox Davies Capital

Fox Davies Capital

Fox-Davies Capital Limited (FDC) has been advising and raising funds for the natural resource sector since February 2001. The firm specialises in assisting international resource companies to gain access to the UK, European and North American capital markets and has a substantial background in emerging markets particularly in Africa, Asia, Russia and the CIS.  FDC enjoys a successful track record in advising and undertaking fundraising transactions for its clients ranging from private equity to IPO and secondary offerings and works with over 350 specialised institutional resource and emerging markets funds worldwide.  FDC is authorised and regulated by the Financial Services Authority (FSA) and is a member firm of the London Stock Exchange (LSE). more »

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