Oil & Gas Corporate News
Solo Oil (LON:SOLO) (SOLO, 0.7p, ? 2.17%) announced an update on activities at the Ausable Field in South Western Ontario operated by its Joint Venture partner Reef Resources Limited. Reef completed its production testing of its Ausable well #1 using hydraulic venturi downhole pump technology. The computed average daily production rate over the test period was 103 bopd. The Company is now in the process of installing the permanent venturi pumping equipment in Ausable well #1. The new pumping equipment will be installed in the recently drilled Ausable well #5 followed by Ausable well #2 and Ausable well #4. Clean up on the Ausable #2 horizontal well is completed and the new pumping equipment will be installed upon completion of production flow testing.
Providence Resources (LON:PVR) (PVR, 159.25p, ? 0.16%) announced that it has completed a seismic inversion study over the Dragon gas discovery in the St George's Channel Basin, offshore south east Ireland. The Dragon structure is partly situated in Standard Exploration Licence (SEL) 1/07 which lies in c. 100m water depth and is located c. 40 km offshore Ireland. The Dragon structure extends across the Ireland/UK median line into UK block 103/1 where the 103/1-1 discovery well was drilled by Marathon Oil in 1994. Providence operates SEL 1/07 (100%) and has applied for UK block 103/1as part of a recent UK Government 'out of round' process. The study has determined that the presence of the Dragon gas bearing reservoir sands may be directly detectable from the 3D seismic data.
Dragon Oil (LON:DGO) (DGO, 473.5p, ? 2.93%) announced the completion and initial testing of the Dzheitune (Lam) 13/160 development well. The well was drilled with a single string to a depth of 2,900m by Rig 40 and tested for initial production at 1,257 bopd. Rig 40 has skidded to the next slot and has spudded the Dzheitune (Lam) 13/163 development well. The NIS and Iran Khazar rigs are currently drilling the Dzheitune (Lam) 28/161 and A/162 wells, respectively.
Mining Corporate News
Kibo Mining (LON:KIBO) (KIBO, 2.63p, ? 40.0%) announced it has more than doubled its licence area in Tanzania to over 18,000 square kilometres in the last six months gaining a strategic position in both the Lake Victoria Goldfields and…
