Oil & Gas Corporate News
Aminex (LON:AEX) plc (BUY, £0.13) (AEX, 6.25p, ? 1.96%) announced the appointment of Mr. Stuard Detmer to the Board of the Company and to the post of Chief Executive Officer with immediate effect. Mr. Brian Hall, who is currently both Chairman and Chief Executive, will remain as the Company's Executive Chairman. Stuard Detmer has worked in the oil industry for over 20 years, beginning with Mobil Oil Corporation in the USA, and then in South America and Russia. More recently, he served as Chief Executive at Sibir Energy plc, at the time one of the largest companies on the AIM market, after the company had experienced severe financial difficulties. He successfully navigated Sibir Energy through a highly sensitive situation towards its sale to JSC Gazprom Neft, a subsidiary of Russian gas giant, Gazprom.
Gulf Keystone Petroleum (LON:GKP) Ltd (UNDER REVIEW) (GKP, 162.50p, ? 4.13%) announced that it has successfully raised US$200,000.000 through a conditional oversubscribed placing of 91,120,000 new Common Shares of US$ 0.01 each in the Company at a placing price of 140 p per share. Use of Proceeds: Progressing the work on the Shaikan Field Development Plan by the dedicated development team; Completing the Front End Engineering and Design for the Company's pipeline capable of transporting a minimum of 440,000 barrels of oil per day ("bopd") from the Shaikan field to the existing Kirkuk-Ceyhan export pipeline; Ordering of long lead items for the construction of the Company's dedicated pipeline, subject to necessary approvals; Upgrading the Shaikan Extended Well Test ("EWT") facilities to increase existing production from Shaikan-1 & 3 to 20,000 bopd; Building additional testing and production facilities for Shaikan-2 & 4 capable of producing 20,000 bopd, following successful well tests at Shaikan-2 and in anticipation of positive results from Shaikan-4; Drilling of the second exploration well on the Sheikh Adi block; and acquisition of 3D seismic data over the Ber Bahr block where the first exploration well is due to spud in October 2011.
Max Petroleum (LON:MXP) plc (BUY, £0.50) (MXP, 15p, ? 1.64%) announced that the UTS-4 confirmation well in the Uytas Field has reached a depth of 849 metres, with electric logs indicating 36 metres of potential net oil pay in the Cretaceous section at depths ranging from 30 to 158 metres,…
