Oil & Gas News
Enegi Oil (LON:ENEG) PLC (ENEG LN, 14.88p, ? 2.59%) Further to the release last week from Enegi Oil PLC that it had now completed site preparations and also been notified by Schlumberger that personnel were being mobilised to start the well operations at Garden Hill South as previously announced, Enegi have today provided an update on the status. Schlumberger has mobilised equipment and personnel to the Garden Hill South ('GHS') property and the next stage of the workover has now commenced - flow tests are being conducted, chemicals are being pumped down the PaP#1-ST#3 well, etc. As well as facilitating preparation for commercial production, the work over is expected to provide further data that will enable the Company to complete the Development Plan for GHS with the objective being to significantly enhance the ultimate recovery of hydrocarbons from the reservoir.
Providence Resources (LON:PVR) (PVR LN,, 212.5p, ? 1.43%) today announced that they have been offered an exploration licence over UK seaward block 103/1 in the St George's Channel Basin, offshore Wales. The offer was made by the UK Government's Department of Energy & Climate Change (DECC) following an out of round application by PR Singleton Limited (Operator, 50%) and Star Energy Oil & Gas Ltd (50%). The block contains the Dragon gas discovery. The Company is, ??very pleased to have been offered this UK block, which is adjacent to Irish licence SEL 1/07 which Providence operates 100%. The Dragon gas discovery is mapped to lie within both the UK and Irish sectors and the award of this new block will allow Providence to move forward with the drilling of its planned appraisal well?
Ithaca Energy (LON:IAE) Inc (IAE LN, 140.6p, ? 0.45%) have today provided a full year 2011 production report, including the details of the 2012 CAPEX programme and a project update. Highlights: Full year export production for the Company in 2011 totalled 1,595,039 barrels of oil equivalent ("boe") and represents an average rate of 4,370 barrels of oil equivalent per day ("boepd") net to Ithaca. The Company's current daily export production rate is approximately 5,010 boepd net; The Company had over US$100 million cash at the end of 2011 having taken its first lifting of oil from the Cook field in December 2011. This…
