Oil & Gas Corporate News
Aminex (LON:AEX) PLC (UNDER REVIEW) (AEX LN, 2.72p, ? 0.0%) issued its Interim Management Statement for the period 1 July to today. Highlights: Cash position of approximately $18 million; Appointment of new CEO; Nyuni Area PSA signed; Nyuni 2 exploration well suspended due to difficult drilling conditions, resource potential not affected; Nyuni 1 exploration well re-entered, testing inconclusive; Ntorya-1 onshore exploration well in the Ruvuma PSA area scheduled to spud in December 2011; Aminex assumes operatorship of the Ruvuma PSA and increases working interest from 37.5% to 56.25%; Aminex swaps interest in West Songo-Songo PSA to increase working interest in Nyuni Area PSA from 65% to 70%; Negotiations progressing on commercialisation of Kiliwani North gas field; and drilling of Shoats Creek development wells now planned for 2012.
Heritage Oil (LON:HOIL) PLC (HOLD, £4.20) (HOIL LN, 192.0p, ? 3.03%) issued its Interim Management Statement for the period from 1 July 2011 to 15 November 2011. Highlights: Miran West-3 well, which commenced drilling in August 2011, has reached 1,576 metres and is drilling ahead after the successful testing of the Upper Cretaceous oil reservoir in October 2011; A rig has been contracted to drill Miran East commencing in January 2012; 3D and 2D seismic acquisition programmes in Kurdistan have completed; Acquired a 51% equity interest and control of Sahara Oil Services ("SOS") which holds the necessary long term permits and licences to provide oil field services in Libya; Awarded further acreage in Tanzania with a Production Sharing Agreement ("PSA") covering virtually the entire Rukwa rift basin; Net average daily production of 882 bopd in the third quarter of 2011, an increase of 71% on the prior year period; Strong balance sheet with cash of approximately $353 million as at 30 September 2011, excluding $405 million related to the tax dispute with the Government of Uganda; Share buy back programme commenced in April 2011 and to date 32,953,734 Ordinary Shares have been bought back and are held in treasury; and to date 14.90% of PetroFrontier Corp. ("PetroFrontier"), a company exploring in Australia, has been acquired for investment purposes.
Matra Petroleum (LON:MTA) PLC (UNDER REVIEW) (MTA LN, 0.57p, ? 0.0%) today announced a placing with Delek Energy Systems Ltd of 70,000,000 new ordinary shares at 0.5p per share (the "Placing Shares")…
