Oil & Gas Corporate News
Enegi Oil (LON:ENEG) (ENEG, n.a.) announced that it has been offered a 100% interest in an Onshore Petroleum Licensing Option to undertake a work programme on areas of interest within the Clare Basin. The Clare Basin is located onshore western Ireland and is within the same fault system trend as the prospects and discovery in the Company's Newfoundland regional play. The Option covers an area of approximately 495km2. Based on technical studies that have been carried out, the Company believes that the Clare Basin has the potential to contain shale gas. Well log analysis indicates the presence of a hot shale area, within the Clare Shale, that appears favourable for shale gas generation. Following completion of the work programme, the Option enables the Company to apply for Exploration Licenses over all or part of the areas of interest. Exploration Licenses are required before drilling activities can occur and the Company intends to apply for the relevant Exploration Licenses should the work programme identify prospective targets. The work programme is expected to cost up to GBP500,000, and must be performed within a two year time frame.
Roxi Petroleum (LON:RXP) (RXP, 5.88p, ? (30.88%)) announced that well 135 was drilled to a total depth of 2950m. Despite encountering shows over much of the target Jurassic interval, wireline logging has confirmed that there are no zones of commercial interest and the well will be plugged and abandoned. This well tested a single play type and has given the Company and its partners in BNG useful information for de-risking the forward exploration programme. Following abandonment of well 135, BNG will re-evaluate the current drilling programme to incorporate new prospects being generated from the newly acquired 3D seismic, which completed processing in December.
Regal Petroleum (LON:RPT) (RPT, 37.75p, ? (4.14%)) announced the completion of the sale of the Barlad Concession in Romania to Chevron Exploration and Production SRL, which sale was previously announced in the Company's interim statements on 30 September 2010.
Mining Corporate News
Allied Gold (LON:AGLD) (AGLD, n.a.) lodged its Audited Interim Financial Report today for the period ended 31 December 2010. The consolidated profit of the company after tax was AUD$9.3M compared to a loss of AUD$22.4M in 2009. Allied Gold?s Simberi Gold…
