Caza Oil & Gas (LON:CAZA, 4p, ? (0.0%)) announced that it has contracted Patterson-UTI Energy Inc. to drill the Matthys-McMillan Gas Unit #2 development well located in the Wharton West Wilcox Field. The well is planned to be drilled to a total depth of 15,200ft and is a direct offset to Caza's Matthys-McMillan Gas Unit #1 well. Drilling operations were commenced on Thursday, February 25, 2010, and the well is expected to take 60 days to drill and an additional 30 days to complete.
Chariot Oil & Gas (LON:CHAR, 35.25p, ? (0.0%)) announced an increase in the Company's unrisked mean prospective oil resources of 3.3Bbbl to a total of over 8.5Bbbl. This results from volumes being attributed to the Central Blocks (licences 2312 A & B and the northern halves of 2412 A & B) offshore Namibia and increases the Group's resources by 39% from the previously reported 5.24Bbbl identified in the Northern and Southern licences. This resource increase follows the interpretation and processing of the 3,000 line km seismic survey which was acquired across the Central Blocks in the second half of 2009 by Seabird Exploration.
Valiant Petroleum (LON:VPP, 524.5p, ? (0.67%)) announced the following updates with regard to recent operations on Don Southwest and West Don (the Don Fields). The previously announced side-track of the Area 22 production well on Don Southwest (Valiant, 40.0%) has now been successfully completed and is ready to produce. Production from the Don Fields is anticipated to restart shortly following commissioning of the permanent pipeline export route via the nearby Thistle platform, which is currently ongoing. The John Shaw semi-submersible drilling rig has been released, permitting access to the field for the hook-up of water injection on Don Southwest which was also successfully achieved. Valiant has also commissioned an updated reserve report from its consultants, RPS Energy, for its proved and probable reserves on the Don Fields which has yielded a total of 17.4MMbbl from the project.
Mining Corporate News
Angel Mining (BUY, £0.16) (LON:ANGM, 8.38p, ? (1.52%)) announced that production has commenced at its Nalunaq Gold Mine in Greenland. The output will be in the form of doré bars comprising approximately 90% gold and 10% silver. Since completing the acquisition of the mine in…
