Oil & Gas Corporate News
Dragon Oil (LON:DGO) (DGO, 433.75p, ? (1.08%)) announced the completion and initial testing of the Dzheitune (Lam) B/148 and 28/149 development wells. The Dzheitune (Lam) B/148, the third well in a series of wells to be drilled from the Dzheitune (Lam) B platform, was drilled to a depth of 3,858m by the Iran Khazar rig and completed with dual strings. Testing of the short and long strings resulted in production rates of 1,556bopd and 1,083bopd respectively. As reported in the Interim Management Statement, the Iran Khazar rig is now drilling the Dzheitune (Lam) B/150 well. The Dzheitune (Lam) 28/149 well, which was drilled to a depth of 3,295m by the NIS rig, was also completed with dual strings. The short string tested at 1,866bopd with the long string testing at 2,513bopd. The NIS rig has skidded to the next slot on the Dzheitune (Lam) 28 platform and spudded the 28/151 well. The Company expects to put those two wells into production before the end of the year and they will contribute to production growth in 2011. The last two wells of the 11 wells planned for 2010 are being drilled now and should be complete before the end of the year.
Mining Corporate News
Medusa Mining (LON:MML) (MML, 384.5p, ? (2.5%)) announced an update of the Co-O Mine surface drilling results for previous hole MD 259 and new holes MD 261 to MD 279, results from underground drilling and an update on regional drilling around the Co-O Mine. Highlights include 4.25m at 10.99g/t gold, 3m at 121.44g/t gold and 5.3m at 12.89g/t gold.
Vane Minerals (LON:VML) (VML, 2.63p, ? (0.0%)) provided an update on the NI 43-101 resource statement on the Wate breccia pipe located in northern Arizona. The project now has an Inferred resource for the Wate project of 886,000 lbs U3O8 equivalent at an average grade of 0.76%, an increase of 27% on the previous resource. The resource increase is based on positive recent drilling by VANE and some newly obtained historic drilling data.
Oilfield Services Corporate News
Hunting (LON:HTG) Plc (HOLD) (HTG, 603p, ? (1.95%)) Today?s interim management statement reads very positively with the group's forecasts…
