Pantheon Resources (LON:PANR) was one of the sector's biggest fallers - down by more than 5.6% in late trading. Pantheon, the AIM-quoted oil and gas exploration company with a working interest (of 50%-58%) in several conventional projects in Tyler and Polk Counties, onshore East Texas, had announced the spudding of the VOBM#3 well.
Pantheon said the Nabors F12 rig has spudded the VOBM#3 well, in Polk County, East Texas.
The VOBM#3 well is the third well to be drilled by the operator in the company's Polk County acreage, and will offset the VOBM#1 and VOBM#2H wells, both of which encountered significant hydrocarbons in the objective horizon.
The well will be drilled vertically to target the Eagleford sandstone at a measured depth of approximately 14,250 feet. Drilling operations are expected to take approximately 45-50 days on a trouble free basis, and results from the well will be announced when drilling, and if appropriate, testing operations are complete.
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Urals Energy (LON:UEN), the independent exploration and production company with operations in Russia, says the loan provided by Petraco Oil Company Limited including accrued interest has now been settled in full.
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The sector's biggest risers were Spitfire Oil (LON:SRO) and Ascent Resources (LON:AST) - up by 25% and more that 23.4% respectively in late trading. The biggest faller was Hydrodec (LON:HYR) - down by more than 7.4%.
(LON:AST) Ascent Resources PLC share price was +0.28p at 1.45p
(LON:AUR) Aurum Mining PLC share price was 0p at 1.05p
(LON:BOR) Borders Southern Petroleum PLC share price was 0p at 1.8p
(LON:CHAR) Chariot Oil Gas Ltd share price was -0.01p at 5.82p
(LON:ENQ) EnQuest Plc share price was -0.37p at 27.63p
(LON:GKP) Gulf Keystone Petroleum share price was +0.06p at 2.09p
(LON:GPX) Gulfsands Petroleum PLC share price was 0p at 3.13p
(LON:HYR) Hydrodec Group PLC share price was -0.25p at 3.13p
(LON:INDI) Indus Gas Ltd share price was +7.5p at 427.5p
(LON:PANR) Pantheon Resources PLC share price was -4.37p at 84.13p
(LON:PET) Petrel Resources PLC share price was 0p at 7.25p
(LON:RKH) Rockhopper Exploration PLC share price was -0.25p at 28.25p
(LON:RPT) Regal Petroleum PLC share price was 0p at 3p
(LON:SRO) Spitfire Oil Ltd share price was +0.75p at 3.75p
(LON:UEN) Urals Energy PLC share price was 0p at 2.5p
(LON:XEL) Xcite Energy Ltd share price was 0p at 2.5p