Eco Atlantic (LSE:ECO) advanced 1.5pc to 68.3p on Tuesday after hiring a rig to drill a critical prospect at its Orinduik Block and appointing two new brokers. Stena Forth, as the rig is known, will drill a 250MMbbls oil target called Jethro-Lobe at the block, which is based offshore Guyana. Jethro-Lobe is located up dip…
Morocco-focused potash business Emmerson rose (LSE:EML) 1.7pc to 3p on Wednesday morning after revealing a key hire intended to advance its flagship Khemisset project. The company has taken on Don Larmour of Global Potash Solutions to advise on metallurgy and processing at the asset. Larmour has nearly four decades of experience in potash processing and,…
Touchstone Exploration (LSE:TXP) sat at 12.3p on Tuesday morning after launching a £3.8m private placement to support the development of its highly prospective Ortoire block in Trinidad. The raise is directed towards UK-based institutional investors and will see Touchstone issue c.31.7m shares at 12p each. This represents a 4pc discount to the business’s 12.5p closing…
Both Red Emperor Resources (LSE:RMP) and 88 Energy (LSE:88E) were trading down on Monday despite announcing the spudding of a well at their shared prospect on the North Slope of Alaska. Operator 88 Energy revealed that the drilling of the Winx-1 exploration well began on Friday. The well was drilled to 600 feet before the…
Anglo African Oil & Gas (LSE:AAOG) advanced 0.5pc to 9.8p on Monday morning after announcing that it has received some of the funds owed to it by the Congolese national oil company. The business has received an initial $663,000 payment from the Société Nationale des Pétroles du Congo (SNPC). State-backed SNPC owes Anglo African a…
Both Red Emperor Resources (LSE:RMP) and 88 Energy (88E) were trading up on Friday after announcing that the spudding of a well at their shared prospect on the North Slope of Alaska is on schedule. Red Emperor and 88 Energy owns 31.5pc and 36pc positions respectively in the Western Block, where the Winx-1 exploration well…