Oil & Gas Corporate News
SOCO International (LON:SIA) (SIA, 369.2p, ? 4.10%) announced it has been informed by the Hoang Long Joint Operating Company, the Operator of Block 16-1 in the Cuu Long Basin offshore Vietnam, that PetroVietnam has relayed the Government of Vietnam's agreement to the extension period for the Te Giac Den Appraisal area. The extension period is for 15 months (from 1st January 2011 to 30th April 2012) or 21 months (31st October 2012) in the event that the Company elects to drill a well. Several 3D seismic acquisition options are currently being reviewed and it is anticipated that acquisition of the 150 square kilometre 3D programme will commence in late June to early July 2011. PetroVietnam has also informed the Company that the Government of Vietnam has approved the Full Development Plan for the Te Giac Trang Field, incorporating the second phase development. Installation activities in the field are ongoing and the H4 jacket for second phase drilling and production has been installed. The project remains on target for Phase I production start in August 2011.
Aminex (LON:AEX) (AEX, 8p, ? 1.60%) announced that the Sunny Ernst-2 well at its Alta Loma property, Galveston County, Texas, has now been successfully recompleted in the 'S' Sands. The Upper Andrau Sands, placed on production after a successful discovery in summer 2008, are now substantially depleted and have been plugged off. A new completion has been made higher up the well bore in the 'S' Sands formation, where a 60 ft hydrocarbon-bearing interval was logged during the original exploration drilling. This interval has now been successfully tested and is on limited production of 3.5 mmscf gas and 260 bpd of condensate, pending the installation of upgraded production equipment which is due to be operational this month. The flowing tubing pressure is constant at 8,700 psi on a 5/64" choke.
Mining Corporate News
Shanta Gold (LON:SHG) (SHG, 32.75p, ? 1.76%) announced an increase in the mineral resource estimate at its Chunya Project in Tanzania. The in situ resource estimate has increased by 45.9% to 1.12Moz of gold at an average grade of 1.46g/t gold from the resources announced on 17 April 2009. Ore resources are now contained within 9 (previously 5) distinct mineralised bodies, all located within a 3.5km radius from the…
