Source - SMW
BG Group's (LON:BG.) shares slipped back after it started up and loaded its first LNG from the second production train at the Queensland Curtis LNG (QCLNG) facility in Australia. The first LNG from Train 2 set sail on the Maran Gas Posidonia. 

At plateau production, expected mid-2016, both trains at QCLNG will be producing enough LNG to load ten vessels per month combined, exporting around eight million tonnes per year. Since production from the first train commenced in December 2014, 27 cargoes have been shipped. 

BG Group began commercial operations in May 2015, when control of Train 1 formally transferred to QGC, BG Group's Australian subsidiary, from the constructor Bechtel Australia. Train 2 commercial operations will begin once a similar commissioning process has been completed. 

Chief executive Helge Lund said: "The start-up of QCLNG's second LNG train is another important operational milestone delivered in line with our plan. The completion of our upstream infrastructure and the two LNG trains are achievements of which BG Group, particularly our team in Australia, can be proud. We have already shipped more than 1.5 million tonnes of LNG from Queensland, and Train 2 will add significant further volumes and flexibility to our LNG shipping and marketing portfolio." 

* * *

Europa Oil & Gas (Holdings) (LON:EOG) says it has received a number of enquiries regarding the open offer from shareholders who hold their shares in nominee accounts. 

The open offer was announced on 6 July alongside the recently completed placing with new and existing institutional investors, and provides all existing qualifying shareholders with the opportunity to subscribe for new ordinary shares in the company at the same issue price offered to the institutions.

It said shareholders should note that:

- Certain nominee account administrators will contact the shareholder directly to advise that there is an open offer and to seek instruction on participating in the open offer and voting at the general meeting.

- Certain other nominee account administrators do not contact the shareholder and therefore the shareholder must contact the nominee account holder and provide instructions regarding participating in the open pffer and voting at the general meeting. If shareholders do not contact them they will take no action.

- If a shareholder holds his/her shares in a nominee account, wishes to participate in the open offer and has not already been contacted by the nominee then the board of Europa would suggest that he/she immediately contacts the nominee directly with their instructions. 

* * *

President Energy (LON:PPC)  said data acquisition of the contracted 603km of 2D seismic on the Hernandarias Block has been completed on time and on budget. The raw data are now being processed for interpretation. 

Preliminary review of the first raw data processed in the field is cautiously encouraging. Final analysis will be available in approximately two months.

Regarding Argentina, it said the recent four workovers continue to produce in aggregate approximately 200 bopd of steady production. 

The next series of workovers is now being considered together with new wells in due course. Realised price for President's production in June was US$71 per barrel with a similar figure expected for July production. 

Current daily aggregate production from Argentina is running between 380-400 bopd.

As for Louisiana, President Energy has acquired net incremental production of approximately 100 boepd of which approximately 45% is oil with effect from August. 

In addition, a further US$12,000 per month of facilities fee income has been acquired. The total consideration paid by President for all such incremental production and added income was US$120,000. 

The increased production includes higher effective working interests in one well in each of President's two fields, from the newly crystallised entitlement under previously disclosed farm-out agreements, and more than offsets the decline rate incurred in the Company's East White Lake field. 

A new production well at that field is due to spud during the course of this month and targeted to come on stream by the end of August. 

Current production, in Louisiana net to President and without any benefit from the new well, is running on the above basis at approximately 285 boepd with oil prices averaging at approximately WTI levels.

* * *

Max Petroleum (LON:MXP) confirms a conditional cash subscription by AGR Energy to raise $13.8m gross for 3.834bn new shares at a price of 0.2341p each such that AGR Energy will hold 63.8% of the Enlarged Issued Share Capital immediately following completion of the Subscription.

As part of the Subscription, AGR Energy will provide an unsecured convertible loan of US$2.0 million (£1.3 million) comprising: (i) a first tranche of US$250,000 (£162,623); and (ii) a second tranche of US$1.75 million (£1.1 million).

* * *

Kea Petroleum's (LON:KEA) conditional sale of its interest in the PEP51153 licence area and the proposed disposal of the PEP381204 licence area were approved by shareholders at a general meeting today.

Shareholders approved all resolutions at the meeting, including the adoption of the investing policy as outlined in the shareholder circular dated 26 June and the proposed reorganisation with each existing ordinary share being subdivided and converted into one new ordinary share of 0.1p and one new deferred share of 0.9p.

The share reorganisation becomes effective at 7 a.m. tomorrow.  



At 4:07pm:

(LON:AUR) Aurum Mining PLC share price was 0p at 1.15p

(LON:BG.) BG Group PLC share price was -10.25p at 1070.25p

(LON:BOR) Borders  Southern Petroleum PLC share price was -0.03p at 4.35p

(LON:CHAR) Chariot Oil  Gas Ltd share price was +0.13p at 8.63p

(LON:DGO) Dragon Oil PLC share price was +0.75p at 727.75p

(LON:ENQ) EnQuest Plc share price was -0.25p at 42.25p

(LON:EOG) Europa Oil  Gas Holdings PLC share price was -0.13p at 6p

(LON:FOGL) Falkland Oil  Gas Ltd share price was -0.75p at 28p

(LON:GKP) Gulf Keystone Petroleum share price was -0.5p at 34.5p

(LON:GPX) Gulfsands Petroleum PLC share price was +0.01p at 9.88p

(LON:INDI) Indus Gas Ltd share price was 0p at 112.5p

(LON:PET) Petrel Resources PLC share price was +0.01p at 2.63p

(LON:PPC) President Energy Plc share price was 0p at 14p

(LON:RKH) Rockhopper Exploration PLC share price was +0.88p at 63.88p

(LON:RPT) Regal Petroleum PLC share price was -0.5p at 4.99p

(LON:XEL) Xcite Energy Ltd share price was +1.38p at 33.38p