Shares in Bahamas Petroleum Company enjoyed a near 18 per cent gain in morning trading on Monday after the AIM-quoted explorer announced an extension on its southern licences. The Isle of Main-based company confirmed that its licences have been extended until Q2 2018 with the date to start drilling pushed back until April 2017, buying…
By Stewart Dalby In March we wrote that the AIM quoted E & P Northern Petroleum appeared to have pulled off a coup by bagging Shell for a farm in for one of its Italian permits. We added at the time the caution that, of course, the deal was dependent on Italian approvals, which never…
By Amy McLellan Providence Resources has released details of its Polaris oil prospect in the Rathlin Basin off the coast of Antrim in Northern Ireland. This is a very early stage exploration project but Providence has long been excited about the prospectivity of the acreage, which it holds on a 100 per cent basis. The…
By Eithne Trreanor The oil price seems to have found a new level as investors and traders ponder the state of the market in the sixties. The dollar remains strong, supply remains more than ample and the fundamentals remain out of balance. In early trading on Friday, Brent crude was still close to a healthy…
By Amy McLellan Atlantic Petroleum, which is listed in Copenhagen and Oslo, has sold off its 10 per cent stake in three North Sea licences, including the Pegasus West gas discovery, for up to £16.5 million. The deal has been agreed with Third Energy Offshore, a privately-owned company based in Yorkshire, which will pay £7.5…
By Amy McLellan Powered by its successes in Italy, Sound Oil is again looking to diversify. Earlier this year it wisely stepped away from a bid for troubled Antrim Energy, which would have added projects in Ireland and the UK North Sea, but now the company mulling a farm-in to the Tendrara licence onshore Morocco,…
By Amy McLellan There’s a change at the top at IGas, with CEO and co-founder Andrew Austin stepping down from the Board after ten years and CFO Stephen Bowler taking over the helm as CEO. Austin’s departure comes after the AIM-quoted onshore producer completes its farm-out to chemicals giant INEOS, a deal that puts real…
By Amy McLellan Another month, another contract win for specialist wellhead company Plexus Holdings. The AIM-quoted company, which has developed a proprietary technology known as POS-GRIP, that delivers a safer, more reliable and cost-effective wellhead solution, has won two contracts in May – so far – with the most recent being a £1.25 million contract…
By Stewart Dalby AIM listed oil & gas start-up Rose Petroleum gave out some positives but also one disappointment in its operational and corporate update issued at the end of April. But overall it continues to make headway in its plan to build a substantial oil & gas company based on shale and other non-conventional…
By Eithne Treanor The resilience in the oil price was welcomed this week as signs of growth brought a temporary sense of optimism back to the market. The geopolitical and economic uncertainty continue, adding volatility to the market but investors are searching beyond the headlines, looking forward and in early trading on Friday, Brent crude…
