Tag Archive for oil

Amerisur price chart offers significant potential upside if production progress continues (AMER)

Last week saw South America-focused oil and gas firm Amerisur Resources (LSE:AMER) rise after announcing progress at its key Platanillo block in Columbia. After finding that a severe degradation of the cement sheath at its Platanillo-22 workover was holding back production, the firm said it successfully carried out a cement squeeze operation to recover the well. It…

Savannah Petroleum’s share price looks for support as news on Seven acquisition nears (SAVP)

As we covered in our article yesterday, Savannah Petroleum (LSE:SAVP) has just made a fourth consecutive oil discovery in Niger. Despite the recent positive newsflow, the stock has continued to decline, sitting around 25.2p today. The reason for waning sentiment appears to be over the acquisition of the Seven assets. The deal was announced last summer,…

Savannah Petroleum makes fourth consecutive oil discovery in Niger (SAVP)

Today, Savannah Petroleum (LSE:SAVP) announced its fourth consecutive discovery in Niger at the Eridal-1 exploration well and an extension to its drilling campaign. Preliminary results based on available data indicate that the well has encountered a total estimated 13.6m of net oil-bearing reservoir sandstones. Wireline logs indicate the reservoir to be good quality, and the…