Oil & Gas News
Aurelian Oil & Gas (AUL LN, 17.0p, ? 1.49%) has been awarded two new licence blocks by the Polish Ministry of Environment. The ?Wetlina? concession (446km2) is in the south eastern region of the Polish Carpathians and is located nearby to Aurelian?s prospective Bieszczady concession, and encompasses the undeveloped Wetlina gas discovery. The second licence ?Prusice? (758 km2) is in the central Polish Permian Basin and is believed to be prospective for Carboniferous Shale gas play.
Providence Resources (LON:PVR) (PVR LN, 207.0p, ? 1.22%) has confirmed its wholly owned subsidiary, PR Singleton Limited, has been offered a frontier exploration licence covering six blocks in the Rathlin Basin, offshore Northern Ireland by the UK?s Department of Energy & Climate Change, adding to previously awarded acreage over Rathlin Island from 2010. The initial licence is valid for six years under condition of a well being drilled within this period.
Serica Energy (LON:SQZ) (SQZ LN, 19.25p, ? 1.99%) has announced the signing of the Petroleum Agreement between the Government of the Republic of Namibia, the National Petroleum Corporation of Namibia (NAMCOR) and Serica Energy Namibia BV in relation to the Licence Blocks 2512A, 2513A, 2513B and 2612A. Under terms of this Agreement, Serica will pay US$1M cash to NAMCOR and US$2M through 6million shares to NAMCOR. Under conditions of the Licence, Serica is required to conduct 3D seismic surveying and 2D seismic reprocessing within the 4 year initial exploration period.
Mining News
Emed Mining (LON:EMED) Public Limited (BUY, 38p) (EMED LN, 8.63p, ? 6.15%) announced on 31 December 2011 it allowed to lapse its option over the exploration permit covering the Regua Tungsten Deposit in Portugal. This decision reflects the results of the evaluation conducted during the option period since September 2010 which involved expenditure in the order of Euro 250,000.
Kefi Minerals (LON:KEFI) Plc (SPEC BUY) (KEFI LN, 4.05p, ? 2.53%) announced the grant of two mineral Exploration Licences in Saudi Arabia to the Gold & Minerals Joint Venture. The Licences, "Hikyrin" and "Hikyrin South" have been granted by the Kingdom of Saudi Arabia's Deputy Ministry for Mineral Resources for a period of five years. KEFI Minerals has a 40% interest in the G&M Joint Venture and is the operating…
