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LGOMon, 30th Jan 2017 13:25
Oil explorer Lenigas continued its recent good run after its revealed it has sold its remaining minority in the US Gulf of Mexico. The company is receiving $1.25m for its interests in seven leases which, during 2011, earned £383,000 in revenue for the company and £204,000 in profits. The funds obta
Read moreOil and gas producers were making gains on Tuesday afternoon despite declining oil prices, as BP lifted sentiment in the sector with forecast-beating third-quarter results and a hiked quarterly dividend. In its first quarterly announcement since the recent deal with Rosneft, BP reported a clean net
Read moreAIM-listed Leni Gas & Oil (LGO) has announced the final transfer of 100 per cent ownership of the Goudron Field incremental production service contract (IPSC) onshore south-eastern Trinidad from the current contract owner to LGO's subsidiary, Goudron E&P. The IPSC, along with the Petroleum Company
Read moreCanada and Ireland-focused oil and gas group Enegi Oil says that field studies on areas of interest within the Clare Basin in Southern Ireland have been 'extremely encouraging' and indicated higher-than-expected prospectively. Further testing is ongoing. The firm also announced that it has appointe
Read moreInterest rates paid by companies in the Eurozone's weaker economies have surged, highlighting the bloc's fragmentation as the European Central Bank loses control of borrowing costs. ECB data on Monday showed Spanish small businesses face the highest bank borrowing costs in almost four years - while
Read moreLochard Energy has put itself on the block in a bid to boost interest in a farm out of its Thunderball and Moby discoveries. The firm has had a turbulent year that resulted in the ousting of its board and a AUS$9m fine that wiped out any profits that could have come from the AUS$1.8m revenues it pul
Read moreTouchstone Gold said it was merging with Atlantis Gold to create what the firm called "a leading Colombia focused gold exploration and development company". Touchstone said shareholders would benefit from a consolidation of quality neighbouring assets and the deal would give it critical mass in a pr
Read moreMetminco said it had made significant progress during the three months to June at Los Calatos in Peru, and Mollacas in Chile. It said conceptual mining studies at the sites had taken the firm closer to mine development and, ultimately, copper production. Shares rose 4% at Sable Mining after the com
Read moreShares Atlantic Coal, the AIM-listed miner focused on Pennsylvania, USA, jumped 11% in early trading after it reported a positive production update from its Stockton Colliery. In the three months to the end of June the company saw an 18.8% increase in clean coal production compared to the first quar
Read moreWildhorse Energy, the specialist underground coal gasification (UCG) company, has signed a cooperation agreement with the Hungarian government to allow UCG projects in the country. In a statement Wildhorse says: "Both parties believe that this could provide Hungary with an opportunity to develop its
Read moreGresham Computing has unveiled Australia and New Zealand Banking Group as its partner in a previously announced significant contract win. Under the deal Gresham will for a third time partner the bank, providing cash and information management solutions for corporate clients in an effort to increase
Read moreRange Resources has reported further success in the appraisal and development of the North Chapman Ranch Field in Texas, in which Range has a 20-25% interest, with the successful drilling of the Smith 2 and Albrecht 1 wells. Work is being conducted to remove all of the plugs below the upper pay zone
Read moreCompany chairman of Leni Gas & Oil David Lenigas topped up his stake in the firm just one day after announcing the acquisition of Goudron E&P firm Sorgenia International. Mr Lenigas bought 3m shares at 1.26p per share for £37,800, taking his total holding in the company to 14.69%. Company director
Read moreLeni Gas & Oil has acquired Goudron E&P (GEPL) from Sorgenia International for an initial $1m, with a further £1m to be paid on the successful completion of the transaction. GEPL holds exclusive rights to acquire the incremental production service contract for the Petroleum Company of Trinidad-own
Read moreStocks finished higher after an uncertain day in which most attention was focused on a meeting of European finance ministers in Poland. At the meeting, which also included US treasury secretary Timothy Geithner, ministers ruled out further stimulus. European Central Bank president Jean-Claude Trich
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