Oil & Gas Corporate News
Aminex (LON:AEX) plc (BUY, £0.13) (AEX, 18P, ? 1.59%) issued its First Quarter 2011 Interim Management Statement. Highlights: Rig now mobilised for Nyuni-2 well, offshore Tanzania, which will be spudded shortly; Next prospect in Ruvuma Basin now identified and awaiting government consent for drilling this year; Recent Development Licence award for Kiliwani North gas field is key to commercialisation; Further drilling planned this summer at Shoats Creek, Louisiana; Sunny Ernst-2, Alta Loma, Texas now recompleted and producing from the 'S' sands; New PSA to replace expiring agreement at Nyuni, Tanzania is negotiated and awaiting ratification; Institutional placing and open offer of new shares in first quarter raising GBP26 million (before expenses) leaves Aminex securely funded to implement a significant exploration and development programme.
PetroKamchatka Plc (UNDER REVIEW, C $0.15) (PKP, C$0.03, ? 20%) announced that it has halted the trading of its stock at the request of the TSX Venture Exchange (the "TSX-V") to allow the dissemination of this news release announcing that the Corporation has signed a non-binding Letter of Intent ("LOI") with Mr. Sergey Dokuchaev and Mr. Valery Garipov in respect of a proposed share exchange transaction. Pursuant to the LOI, PetroKamchatka would issue common shares in exchange for all the outstanding stock of Advastor Services Ltd. (?Advastor?), a Cyprus-holding company that is 100% owned by Mr. Dokuchaev and Mr. Garipov (the "Share Exchange"). Advastor, in turn, owns 100% of the stock in the charter capital of each of LLC "Severgeofisika", LLC "NefteGeoService Company", CJSC "Uhtaneftegasrasvedka" and CJSC "PechoraPetroleum". These four Russian entities hold six exploration licences in the Komi Republic, in northern European Russia, an established oil and gas producing region close to existing production and transportation infrastructure. The total acreage of the six licence areas is approximately 2,700 km2 and includes two drill-ready prospects. The trading halt of the Corporation?s stock will remain effective until the TSX-V receives and reviews preliminary information on the potential new insiders of the Corporation, those being Mr. Dokuchaev and Mr. Garipov.
Afren (LON:AFR) plc (AFR, 148.4p, ? 1.92%) issued the Interim Management Statement for the period 1 January 2011 to 19 May 2011. Highlights: Ebok (Nigeria) - production from Phase 1 has been steadily increased to a sustained flow rate in excess of 17,000 bopd, ahead of guidance; Okoro (Nigeria) - gross production…
