Rockrose stock price rockets as share buyback completes

The share price of Rockrose Energy (LSE:RRE) soared over 10% yesterday on results of its tender offer of around 20% of the company’s ordinary shares. The share buyback was heavily subscribed allowing early investors the chance to exit. On cancellation of these shares, the valuation of the stock will pro-rata reduce by almost 20% at a time when…

President Energy updates on drilling campaign at Punta Rosada as it prepares for final drill of the year

President Energy (LSE:PPC) gave an update on its drilling campaign in the Rio Negro Province of Argentina today. The company owns a 90% working interest in the Puesto Flores/Estancia Vieja Concession and is the operator of the asset. The remaining 10% interest is held by the provincial energy company, EDHIPSA. President acquired the concession from…

Union Jack oil & Egdon Resources: Wressle receives recommendation for approval from planning officer

Union Jack Oil (LSE:UJO) announced today the Wressle development has received a recommendation for approval (subject to Conditions) from North Lincolnshire Council’s Planning Officer. Union Jack hold a 27.5% working interest in Wressle alongside operator Egdon Resources Plc (LSE:EDR). There have been a number of setbacks over the past couple of years with previous planning…

Amerisur acquires 100% working interest in Mecaya block adjacent to the Putumayo-9 well

Amerisur Resources (LSE:AMER) was up 6% this morning after updating the market on operations. The company has acquired the outstanding working interest in the Mecaya contract in the Caguan-Putumayo basin, making the company operator and 100% owner. For it’s 55% working interest, Amerisur will pay Mecaya Oil and Gas Ltd $400k over three years, and…