Proactive weekly oil & gas highlights: 88 Energy, Aminex, Union Jack Oil…


88 Energy Limited has updated the market on its operations during the quarter ended 30 September, which ended with A$36mln in the bank and no debt. At the Project Peregrine, the Merlin-1 well showed the presence of oil in multiple stacked sequences, while geochemical analysis demonstrates definitive evidence of light oil, with estimated API gravity of 35-42.

Aminex PLC (LSE:AEX) said it has reached a settlement with the Tanzania Petroleum Development Corporation (TPDC) over past gas sales that will result in receiving a net cash inflow of approximately US$1.85mln. Discussions with TPDC over the last few months resulted in this agreed deal, it added.

Zephyr Energy PLC, the Rocky Mountain oil and gas company, said operations are scheduled to start next Monday at the State 16-2LN-CC well. The company said all equipment and materials required for hydraulic stimulation (including water tanks, water and proppant materials) have been mobilised to the State 16-2LN-CC well pad on the company’s flagship project in the Paradox Basin, Utah.

Genel Energy PLC (LSE:GENL, OTC:GEGYY) said production from the Tawke PSC in Kurdistan averaged 105,179 barrels of oil per day (bopd) in the third quarter. The update from operator DNO ASA did not provide separate production figures for the Tawke and Peshkabir fields within the PSC.

ADM Energy PLC (AIM:ADME, ETR:P4JC) announced the latest crude oil lifting at the Aje field, offshore Nigeria. The company, in a statement, detailed the sixteenth oil lifting at Aje which sees a total of 232,379 barrels of crude (ADM’s net share is 21,424 barrels) sold.

Union Jack Oil PLC (AIM:UJO) chair David Bramhill has highlighted that the West Newton project has confirmed substantial conventional onshore hydrocarbon discoveries, as the company detailed a number of findings of ongoing study at the project. Analysis of both the West Newton A and West Newton B sites has confirmed thick reservoir development for the Kirkham Abbey formation – measured over 75 metres thickness in the WNA-1 well, 66.5 metres in the WNA-2 well, and 68 metres in the WNB-1z sidetrack.

United Oil & Gas PLC (AIM:UOG) said production averaged 2,022 barrels oil equivalent per day through the third quarter. The Q3 production comprised 1,619 barrels of oil and 405 boepd of gas, the company noted.

Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) has appointed Sylvia Kerrigan to its board as an independent non-executive director. Kerrigan brings more than a decade of board room experience and several decades as an executive for the energy, industrial and transportation sectors, the company highlighted.

Mosman Oil and Gas Ltd (AIM:MSMN) told investors that the Winters-2 well has now spud. Winters-2, located in Polk County, Texas, has so far been drilled down to 1,445 feet and is expected to reach target depth next week.

Orcadian Energy PLC (AIM:ORCA) has inked a farm-out deal with Carrick Resources for Licence P2320 which is host to the Carra prospect. It is envisaged that Carrick will pay for new seismic data at Carra and work up the prospect to drill-ready status.

Longboat Energy PLC (AIM:LBE) has announced a new discovery in the Norwegian North Sea, with the Rodhette exploration well encountering a 29-metre hydrocarbon column in its primary target. Rodhette, 20% owned by Longboat, is the first well in a seven well programme.


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