Commodities

Singapore’s KrisEnergy gets the nod for Lengo gas development
Developing gas fields in Indonesia

Singapore’s KrisEnergy gets the nod for Lengo gas development

3 mins. to read

By Amy McLellan KrisEnergy was established in 2009 by the former team behind Pearl Energy, the Asia-focused E&P that listed on the Singapore Stock Exchange with a market cap of US$240 million in 2005, was acquired by Aabar Petroleum for US$500 million one year later before being bought by Abu Dhabi’s Mubadala Petroleum for US$833…

Oil prices remain weak as over-supply situation worsens
Eithne Treanor

Oil prices remain weak as over-supply situation worsens

4 mins. to read

By Eithne Treanor The over-supply on the oil market just got worse this week when the Energy Information Administration said that American supplies were at a higher level than seen in the past 80 years. In early trading on Friday, Brent crude was priced below US$49 with WTI close to US$47 a barrel. The oil…

Faroe Petroleum targets Pil and Bue look-alikes with new acreage awards in Norway
Drilling offshore Norway

Faroe Petroleum targets Pil and Bue look-alikes with new acreage awards in Norway

3 mins. to read

By Amy McLellan AIM-quoted Faroe Petroleum has extended its already substantial portfolio in Norway, picking up five new exploration licences under the 2014 APA awards. Importantly, this includes three new licences that are not only near the company’s Pil & Bue discoveries, which were among Europe’s exploration highlights last year with a resource range of…

Amara Mining Raises £14.5 Million Of New Money In Anticipation Of A Favourable Pre-Feasibility Study At Yaoure

Amara Mining Raises £14.5 Million Of New Money In Anticipation Of A Favourable Pre-Feasibility Study At Yaoure

2 mins. to read

By Alastair Ford “We applaud the company for raising capital in the current difficult market environment”, wrote analysts at Canaccord, after Amara Mining announced it had completed on a £14.5 million fundraising. The raise was anticipated by Minesite in the article we wrote just a few short weeks ago – here – and fits right…

Egdon Resources emphasises its UK conventional drilling prospects as well its shale gas potential
Egdon's shale and conventional licences onshore the UK

Egdon Resources emphasises its UK conventional drilling prospects as well its shale gas potential

2 mins. to read

By Stewart Dalby For most of 2014 reporting on AIM listed Egdon Resources seemed dominated by the company’s entry as a significant player in the UK’s embryonic shale gas business. The idea that the UK might replicate the US’s shale “revolution”, which has meant import substitutionand security of supply for the US, has gripped the…

Leyshon Energy to return cash to shareholders and cancel AIM listing
Leyshon packs up in China

Leyshon Energy to return cash to shareholders and cancel AIM listing

2 mins. to read

By Amy McLellan Twelve months on from its demerger from Leyshon Resources, and Chinese gas explorer Leyshon Energy is planning to return more than US$15 million in cash to shareholders and cancel its AIM listing. It follows a run of poor results from its Zijinshan project in China and the failure to bring in partners…

Orosur Mining Expects Costs To Fall And Cash Flow To Rise, As It Moves Back Into Higher Grade Rock
Orosur staff at the minesite

Orosur Mining Expects Costs To Fall And Cash Flow To Rise, As It Moves Back Into Higher Grade Rock

2 mins. to read

By Alastair Ford “We’re pushing forward”, says Orosur Mining’s Ignacio Salazar, in the wake of the company’s results for the second quarter, the three months to 30th November. “We said the first half was going to be more difficult, and we knew that the numbers were going to be tight.” Sure enough, Orosur turned in…