Oil & Gas Corporate News
Leni Gas & Oil Plc (LON:LGO) (LGO, 2.36p, ? (5.61%)) announced the commencement of the drilling activity and the spudding of the hole for the Hontomin extended well test in northern on-shore Spain. The objective of the Hontomin programme is to appraise the long term production potential of the Hontomin-2 well. Electric wireline logging and perforation of the existing hydrocarbon intervals and other potential undepleted zones is scheduled for September/October 2010 to assess the full production potential of the structure.
Caza Oil & Gas (LON:CAZA) (CAZA, 18.75p, ? (3.85%)) announced an update on the Matthys-McMillan Gas Unit #2 development well located in Wharton County, Texas. Both log and seismic data indicated that the Yegua interval could be productive in the Well and Caza received approval from its partners to perforate at a depth of approximately 9,478 feet in the Yegua sands. The well has now been completed in the Yegua formation and a fracture stimulation has been performed. Since completion of the frac, the Well has been producing a gross average of 146 barrels of condensate per day and 1.1mmscfd. Caza has a 19.61% working interest and a 14.32% net revenue interest in the Well.
Rockhopper Exploration (LON:RKH) (RKH, 313.5p, ? (2.34%)) provided an update on operations at its Ernest and Sea Lion locations. The Ernest 26/6-1 exploration well has been safely plugged and abandoned as a dry hole following completion of all logging runs and the Ocean Guardian drilling rig is now preparing to proceed to the Sea Lion location where the Company intends, subject to all necessary consents, to carry out a flow test on the Sea Lion discovery well 14/10-2.
Mining Corporate News
Noventa Ltd (LON:NVTA) (NVTA, 7.13p, ? (1.72%)) announced that it has discovered what could be a significant additional deposit of Tantalum bearing ore on its existing Marropino licence area. The Discovery is an area of soft rock measuring approximately one kilometre square, two kilometres to the south east of the Marropino Mine. Indications from initial sampling have been encouraging. Independent assays have been instructed and a further announcement will be made once they are complete. If the Discovery is confirmed, it is expected that this could provide up to twelve months of feedstock for the Marropino plant at the full anticipated production level of in excess of 500,000lbs of…
