Source - SMW
LGO Energy's (LON:LGO) shares were down in late trading after refuting it is in breach of an agreement with Trinity Exploration & Production.

LGO says it is aware of a misleading allegation made by Trinity in its recent Q2 update concerning the sale and purchase agreement signed in 2014 with respect to the Tabaquite Block.

LGO, having taken legal advice, refutes in its entirety Trinity's claim that LGO is in breach of the SPA. 

LGO has previously put Trinity on notice that it is the party that has breached the SPA and that until Trinity remedies that breach LGO is unable to proceed further with the agreement. 

LGO says it has, both directly and through its legal representatives, notified Trinity of its breach of the SPA and of the need to remedy that breach so as to allow the agreement to proceed. 

LGO has consequently reserved all of its rights to take such action as it deems necessary against Trinity to protect the company and its shareholders' interests.

* * *

Nostra Terra (LON:NTOG) has provided an operational and production update for the second quarter of 2015. The highlights are as follows:

· Quarterly production increase of 112% over same quarter last year

· Quarterly production of 8,663 boe (net of royalties)

· Quarterly revenues reached US$319,219 (net of royalties)

· Exploratory investment in South Texas, Eagle Ford trend

· Expansion in Wyoming, PawPaw Prospect

* * *

Emirates National Oil Company is to launch the compulsory acquisition of Dragon Oil (LON:DGO) shares following the closing of the recommended cash offer on 14 September.

ENOC has received valid acceptances relating to 207,023,926 Dragon Oil shares - 41.9% of the current issued share capital and 90.1% of Dragon Oil shares to which the offer relates. 

As a result, ENOC has received sufficient acceptances of the offer to compulsorily acquire any Dragon Oil Shares in respect of which the offer has not been accepted.

* * *

The sector's biggest risers were Solo Oil (LON:SOLO) and Aminex (LON:AEX) - up by over 9.2% and over 7.7% respectively in late trading. The biggest faller was Sefton Resources (LON:SER) - down by more than 22.2%
 
 



At 3:46pm:

(LON:AEX) Aminex PLC share price was +0.16p at 2.08p

(LON:AUR) Aurum Mining PLC share price was -0.12p at 0.88p

(LON:BOR) Borders  Southern Petroleum PLC share price was -0.35p at 2.6p

(LON:CHAR) Chariot Oil  Gas Ltd share price was +0.1p at 6.97p

(LON:DGO) Dragon Oil PLC share price was +0.5p at 799.5p

(LON:ENQ) EnQuest Plc share price was -3.37p at 25.63p

(LON:FOGL) Falkland Oil  Gas Ltd share price was -1.13p at 20.75p

(LON:GKP) Gulf Keystone Petroleum share price was +0.13p at 23.38p

(LON:GPX) Gulfsands Petroleum PLC share price was 0p at 4.75p

(LON:INDI) Indus Gas Ltd share price was -3.38p at 106.5p

(LON:LGO) Leni Gas  Oil PLC share price was -0.27p at 1.28p

(LON:NTOG) Nostra Terra Oil  Gas Company PLC share price was +0.01p at 0.12p

(LON:PET) Petrel Resources PLC share price was 0p at 2.5p

(LON:RKH) Rockhopper Exploration PLC share price was -1.62p at 45.88p

(LON:RPT) Regal Petroleum PLC share price was -0.4p at 3.88p

(LON:SOLO) Solo Oil PLC share price was +0.04p at 0.42p

(LON:XEL) Xcite Energy Ltd share price was -0.37p at 29.13p



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