Oil and Gas

Independent oil and gas explorer and producer, Gulf Keystone Limited (LSE:GKP) said it now has gross oil in place of about 12.4 billion barrels from its Shaikan block in the Kurdistan region in Iraq. The latest report is the fourth revision of the P90 estimates, indicating an increase of about 4.4 billion barrels from the […]

Central Asia-focused oil and gas exploration and production company Tethys Petroleum Limited (LSE:TPL) (TSX:TPL) now holds an estimated 27.5 billion barrels of oil equivalent (boe) from its Tajikistan, the company announced today. The latest estimate is a sharp increase in the previously estimated prospective resource of about 1.14 billion boe buried within the same basin […]

AIM-quoted Leni Gas & Oil plc (LSE:LGO) announced today it has signed a sale and purchase agreement to divest its assets in Spain for €8 million to an unnamed private buyer. The transaction will be in cash and the buyer paid €200,000 non-refundable deposit to obtain exclusivity to complete the transaction by 27th July 2012. […]

Oil and gas engineering firm Lamprell plc (LSE:LAM) was awarded the contract worth US$120.9 million to build a modified jackup for Seajacks to be constructed at the company’s facility in UAE. Lamprell’s fourth rig to be built for Seajacks, Seajacks Hydra will have a payload capacity of 1400 tonnes, accommodate 100 personnel, and will be […]

In a move totally unexpected by investors today, Royal Dutch Shell (LSE:RDSA) (LSE:RDSB) backed out of a bidding war against its rival, Thailand’s PTT Exploration & Production (PTTEP), to take over Cove Energy (LSE:COV). In a statement released an hour before London closed trading, Shell said “it will not take part in the Auction Procedure for […]

Shares in the small-cap oil and gas exploration company, Bayfield Energy Holdings plc (LSE:BEH), surged 38.5% today, the largest percentage gain on the London Stock Exchange today by more than 6%.  The share price has risen 5.00 pence to 18.00, recovering in a single day of trading what it had lost in the previous month. […]

GeoPark Holdings (LSE:GPK) share price rose 3.72%to 655.00p on the London Stock Exchange this morning on reports of positive exploration results from recently-acquired oil-field blocks in Columbia. Block Llanos (Flat) 34 GeoPark reported on discoveries in the Max and the Tua Oil Fields. In the Max Oil Field, the Max 1 exploration well is testing […]

It’s payday today at Solo Oil plc (LSE:SOLO), following an independent technical evaluation saying there is about 5.75 trillion cubic feet of unrisked gas-initially-in-place (GIIP) “for identified leads, prospects and discoveries” in the company’s 12,000-square kilometre acreage within the Rovuma Basin, now an established oil and gas resource in the territories of Tanzania and Mozambique...

Shares of Kazakhstan-focussed oil and gas exploration and production company Max Petroleum plc (LSE:MXP) crashed with more than half their value lost in London trading, after the company said its delayed-stricken drilling operation may cost them a total of US$43 million to complete, draining the company’s cash position. The NUR-1 well, spudded in November 2011 […]

Lamprell (LSE:LAM) seemed to regain some shareholder confidence this morning as its share price gained nearly 13% to 89.20 pence on the London Stock Exchange.  The stock has been languishing since 16 May 2012 when it dropped 167.00 pence following a profit warning issued by Lamprell. The Big Picture In the May 16th announcement the company […]