Oil & Gas Corporate News
Stratic Energy Corp (LON:SE.) (STI, 9.5p, ? (2.70%)) announced that operator EnQuest (LON:ENQ) spudded the 211/18a-W4 well on the West Don field on 7th August, 2010. This well is being drilled as a third production well. The 211/18a-W4 well targets the southern area of the West Don field and operations on this well are expected to be completed by mid to late September 2010.
Cove Energy (LON:COV) (CVE, 63.25p, ? (2.02%)) announced that the Instituto Nacional de Petróleo of Mozambique has approved a six-month extension to the initial exploration period for the onshore Rovuma license. This extends the term of Phase 1 of Rovuma Onshore Area from September 1, 2010 to March 1, 2011 without further commitments.
Max Petroleum (LON:MXP) (BUY, £0.50) (MXP, 10.75p, ? (2.27%)) announced that the ZMA-A15 development well in the Zhana Makat Field has reached a total measured depth of 1,525m, with electric logs indicating 30m of net oil pay, including two Jurassic sandstone reservoirs with 12m of net oil pay at true vertical depths ranging between 780-829m, as well as two Triassic sandstone reservoirs with 18m of net oil pay at true vertical depths ranging between 1,277-1,331 metres. The Company is running production casing in the well, after which the Sun ZJ-30 drilling rig will move on to drill the KAW-1 exploration well on the Karsak West prospect in Block E. The Company will complete and test the ZMA-A15 well using a workover rig over the next several weeks and will announce production test results as soon as practicable.
Mining Corporate News
European Goldfields (LON:EGU) (EGU, 509p, ? (2.12%)) announced that the final Environmental Impact Study for the Company's project in Halkidiki, in North-Eastern Greece, has now been submitted to the Greek Ministry of Environment, Energy and Climate Change.
