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Canadian Overseas Petroleum Limited Widens African Oil Search Through Shoreline Energy Joint Venture
COPL --Expanding offshore Africa

Canadian Overseas Petroleum Limited Widens African Oil Search Through Shoreline Energy Joint Venture

2 mins. to read

By Martin Clark In a move that broadens its African exposure widely, Canadian Overseas Petroleum Limited (COPL) has unveiled details of its pairing with indigenous firm, Shoreline Energy. COPL, which is listed in London and in Toronto, is keen to diversify and balance its portfolio with new upstream exploration projects and development opportunities.The company already…

Wressle-1 update: testing of Penistone Flags yields strong gas flow as Egdon Resources prepares second test to identify oil leg
Egidon in the UK East Midlands

Wressle-1 update: testing of Penistone Flags yields strong gas flow as Egdon Resources prepares second test to identify oil leg

2 mins. to read

By Amy McLellan It’s three out of three for the trio of AIM companies behind the Wressle-1 discovery in the East Midlands in the UK, with the third of the three intervals tested free-flowing up to 1.7 million cubic feet per day of gas and up to 12 barrels per day of 35-degree API oil.…

Glencore Proves Resilient In A Tough Market

Glencore Proves Resilient In A Tough Market

1 mins. to read

Glencore, hit or miss? According to VSA, Glencore’s latest set of results missed consensus as revenues dropped by five per cent to US$221.1 billion and earnings before interest, tax, depreciation and amortisation fell 2.3 per cent to US$12.77 billion. Of course, a lot depends on what exactly your idea of consensus is. VSA argued that…

Troubled Afren buys time with deferral of US$50 million debt payment
Afren drilling in Nigeria

Troubled Afren buys time with deferral of US$50 million debt payment

1 mins. to read

By Amy McLellan Shares in beleaguered Afren plc surged almost 20 per cent in morning trading on Monday as the London-listed company provided an update on its capital structure. The oil producer, which pumps around 32,000 bpd from fields in Nigeria, has been under pressure since last summer when serious governance issues were unveiled, leading…

Shares In Pan African Resources Rise As Low Grades From Evander Look To Be A Thing Of The Past
Evander

Shares In Pan African Resources Rise As Low Grades From Evander Look To Be A Thing Of The Past

4 mins. to read

By Alastair Ford “We’ve been through tough times”, says Cobus Loots, the new chief executive of Pan African Resources. Indeed, the company’s latest set of results, for the six months to December 2014, don’t exactly make for good reading: revenue dropped by more than £16 million over the corresponding period in the previous year, while…

Green Dragon says 2015 is all about cash flow
Chairman and company founder Randeep S Grewal

Green Dragon says 2015 is all about cash flow

3 mins. to read

By Amy McLellan Green Dragon Gas, the China-focused coal bed methane producer, last week released its annual audited reserves report which, for the ninth consecutive year, revealed positive growth. Net 1P reserves were up 17 per cent at almost 148 BCF and 2P reserves were up 12 per cent at 426.8 BCF. The 3P number…

Aminex and Solo’s important gas pipeline in Tanzania is finally in its closing construction stages
Aminex - Gas in Tanzania

Aminex and Solo’s important gas pipeline in Tanzania is finally in its closing construction stages

3 mins. to read

By Stewart Dalby The word” shortly” or its equivalents have been used so often about several aspects of Aminex’s flagship project, the Kiliwani North gas development in Tanzania, that they seem almost to have lost their currency. Shareholders have been told many times in recent months that the pipeline linking the KN-1 well to the…

That Was The Week That Was … In Australia
The ASX

That Was The Week That Was … In Australia

5 mins. to read

By Our Man in Oz Minews. Good morning Australia. Your market seems to have had a fairly good week. Oz. Fairly is one way of describing what was actually a pretty flat week. Most mining stocks gained a few cents, and the mining index was up a healthy three per cent, but there wasn’t a…