Nostra Terra Oil & Gas (LSE:NTOG) edged up to 3.9p this morning after quadrupling its position in Texas’s prospective Permian Basin. The firm has purchased the 1,384 net acre Mesquite prospect, where it expects to be able to drill eight horizontal wells. It will target initial production of 200-300bopd from each horizontal well at the…
Shares in Kavango Resources (LSE:KAV) bounced 2.2pc to 2.3p today after the newly-listed exploration firm announced that it has further built up its position in Botswana’s prospective Kalahari Suture Zone (KSZ). The business has acquired three new prospective licences covering 2,300km2 in the KSZ, an extended magnetic anomaly where it is looking for nickel, copper,…
Argentina-focused President Energy (LSE:PPC) told investors today that results from the first of three wells planned at its Puesto Flores field are at the ‘upper end of expectations’, sending shares up by 3pc to 8.4p. The business said the PFO 1001 development well, which spudded last month, found oil shows in at least three formations,…
Rockfire Resources (LSE:ROCK) fell by nearly 30pc this morning to 1.1p after failing to find gold or copper in two holes drilled at its Marengo project in Australia. The business said the holes, which it drilled into blind geophysical anomalies beneath and to the northeast of the project’s One Mile Mountain prospect, contained 1-2pc pyrite but…
Shares in Berkeley Energia (LSE:BKY) were down by 51pc in midday trading today to 12.9p following reports that the Spanish government has moved to block its flagship Salamanca uranium mine in the country. Reuters reported yesterday that sources have confirmed that the Spanish government has decided not to deliver the necessary permits to open the open-case…
Columbia-focused oil and gas business Amerisur Resources (LSE:AMER) advanced 0.5pc to 11.8p today after confirming plans to spud the next well in its 2018/19 drilling programme later this month. In an operational update, the firm said the operator of its 30pc-owned CPO-5 field has told it a rig is preparing to drill the well –…