25th February 2011 Oil & Gas Corporate News Antrim Energy (AEY, 68.75p, ? (1.79%)) announced yesterday that it has entered into an agreement with a syndicate of underwriters pursuant to which the underwriters have agreed to purchase, on a "bought deal" basis, 42,000,000 common shares ("Common Shares") at an issue price of $1.07 per Common Share for gross proceeds to Antrim of $44,940,000 (the "Offering"). The Company has also granted the underwriters an option, exercisable in whole or in part, for a period commencing on the closing of the Offering and ending 30 days after the closing date, to purchase up to an additional 6,300,000 Common Shares at the Issue Price for additional gross proceeds of up to $6,741,000. Proceeds from the Offering will be used to fund the Company's on-going capital expenditure program and for general corporate purposes. Aurelian Oil & Gas (AUL, 82.25p, ? (5.19%)) provided an operational update. The hydraulic fracturing operations on the Trzek-2 well have now been completed. Ten separate zones were successfully fracture stimulated along the 1350m of horizontal wellbore. An initial production rate of 17mmscf/d was recorded on Trzek-2 on a short term test, compared with an initial production rate of 7.5mmscf/d recorded for the Trzek-1 vertical well on a similar short term test in 2007. On completion of the well clean-up process, a 2-day shut-in period will take place, and then the well will be flowed for up to a further 30 days. From this, a stabilised flow rate will be ascertained, and that figure will be used by the Company to estimate an ultimate recovery from the well. The Company currently estimates that Trzek-2 will be completed in line with its original budget estimate of EUR18.2 million. Trzek-3 is currently drilling ahead at approximately 2500 metres, with the vertical pilot hole and the horizontal section expected to be completed by late May or early June 2011. Hydraulic fracturing operations will then follow, with stabilised flow test results expected by late June or early July. Trzek-3 is targeting a separate high in the Siekierki structure with a recoverable resource estimated at between 16 and 28 bcf. Chariot Oil & Gas (CHAR, 230.5p, ? (3.15%)) announced an increase of a further 700 million barrels from 1,940 to 2,631 billion barrels, up 36%, in its estimate of gross unrisked mean prospective resources in its Northern licence offshore Namibia. This increase has resulted from continued…

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