Volga Gas (LON:VGAS) said average group production for the September 2016 was 7927 barrels of oil equivalent per day, up 11.9% on August. This was highest monthly production rate achieved in 2016.
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Europa Oil & Gas (LON:EOG) says that following the acquisition of Shale Petroleum (UK) Limited (SPL) for a nominal consideration of £1 it is assigning SPLs 16.665% interest in PEDL299, a UK onshore licence located in the East Midlands, as follows:
- 8.335% assigned to Europa Oil & Gas Limited
- 8.33% assigned to Upland Resources (UK Onshore) Limited
Following the assignments, which are subject to regulatory approval, the interests in the conventional prospectivity on PEDL 299 will be as follows:
- INEOS (50% operator)
- Europa Oil & Gas Limited 25%
- Upland 25%
- Unconventional prospectivity on PEDL299 is 100% INEOS.
PEDL299 contains the Hardstoft oil field which was discovered in 1919 by the UKs first ever exploration well. This produced 26,000 barrels of oil from a Carboniferous limestone reservoir.
A CPR on Hardstoft, issued by joint venture partner Upland Resources, identified gross 2C contingent resources of 3.1 million boe and gross 3C contingent resources of 18.5 million boe in PEDL299.
Production testing methodologies for carbonate reservoirs have evolved since 1919 and the Company believes these could allow commercial oil flowrates to be achieved at Hardstoft.
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The sector's biggest risers were Empyrean Energy (LON:EME) and Frontera Resources (LON:FRR) up by more than 9.5% and over 8.8% respectively in late trading. The biggest fallers were Xcite Energy (LON:XEL) and Borders & Southern Petroleum (LON:BOR) - down by 12.5% and more than 9.1% respectively.
(LON:AUR) Aurum Mining PLC share price was 0p at 2.2p
(LON:BOR) Borders Southern Petroleum PLC share price was -0.17p at 1.68p
(LON:CHAR) Chariot Oil Gas Ltd share price was +0.03p at 9.43p
(LON:EME) Empyrean Energy PLC share price was +0.75p at 8.63p
(LON:ENQ) EnQuest Plc share price was +0.25p at 27.5p
(LON:EOG) Europa Oil Gas Holdings PLC share price was 0p at 4.75p
(LON:FRR) Frontera Resources Corporation share price was +0.01p at 0.09p
(LON:GKP) Gulf Keystone Petroleum share price was +0.05p at 2.21p
(LON:GPX) Gulfsands Petroleum PLC share price was 0p at 3p
(LON:INDI) Indus Gas Ltd share price was -0.75p at 486.75p
(LON:PET) Petrel Resources PLC share price was -0.13p at 6.38p
(LON:RKH) Rockhopper Exploration PLC share price was 0p at 28.75p
(LON:RPT) Regal Petroleum PLC share price was 0p at 3.5p
(LON:VGAS) Volga Gas PLC share price was +1.5p at 49.5p
(LON:XEL) Xcite Energy Ltd share price was -0.25p at 1.75p