Argentina: President Energy announces Rio Negro drilling update
16 Apr 2021
AIM-listed President Energy, the energy company with a diverse portfolio of production and exploration assets focused primarily in South America, has provided an operational update with regard to current operations in the
Rio Negro Province, Argentina.
Highlights
Petrophysical analysis of newly drilled well LB-1002 has increased net gas pay to 11 metres
S
Drilling programme Rio Negro
The new gas well
EV-1001 at the Estancia Vieja field, Rio Negro, Argentina has now been spudded ahead of schedule. Drilling time excluding completion of the well but including logging and casing is estimated to be 12 days with a target depth of 1,850 metres. The well will twin the old well EVx-1 which was producing until a recent casing collapse. With an estimated cost of US$1.8 million, President projects initial production of 60,000 m3/d (2.1 MMsft/d or circa 350 boepd).
Oil price, President, Helium One And finally…
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Crown Point Energy (TSXV:CWV)
Centaurus Energy (TSXV:CTA)
Cypress Development (TSXV:CYP)
Petrofrontier (TSXV:PFC)
Nouveau Monde Graphite (TSXV:NOU)
Here’s a look at what may have moved their share prices over the last five days.
1. Crown Point Energy
Oil and gas junior Crown Point Energy boasts cash flow from production and a portfolio that includes assets in two of Argentina’s largest producing basins.
Last Thursday (January 7), Crown Point and Centaurus Energy together proposed a business combination through a non-binding term sheet. According to the companies, the resulting new entity would be an Argentina-focused oil and gas exploration company with diverse operations and strong financials.
Press release content from Accesswire. The AP news staff was not involved in its creation.
Centaurus Announces Grant of Options
January 8, 2021 GMT
CALGARY, AB / ACCESSWIRE / January 8, 2021 / Centaurus Energy Inc. (“Centaurus” or the “Company”) (TSXV:CTA)(OTCQB:CTARF), is pleased to announce the grant of 24,205,954 options to officers, directors, employees and consultants pursuant to the Company’s stock option plan, exercisable at a price of USD$0.04337 (CDN$0.055) per share and expiring on January 8, 2026. In addition, the Company and certain option holders have agreed to cancel 2,700,000 previously issued options originally issued in April 2018. The issuance of options is subject to Exchange approval and the shares issuable upon exercise of the options may not be traded for 4 months and one day from the date of grant.
Centaurus Energy Inc.: Crown Point Energy and Centaurus Energy Enter into Term Sheet and Propose to Merge in a Stock-Based Business Combination to Create an Operationally Diversified, Financially Strong, Argentina-Focused Oil and Gas Production Company
Access to funding for upcoming Vaca Muerta oil production development in Coiron Amargo Sur Este
Expert management with international experience and deep local ties
Operational Efficiencies to Generate Cost Synergies
Transaction Closing expected early Q2 2021
CALGARY, AB / ACCESSWIRE / January 7, 2021 / Crown Point Energy Inc. ( Crown Point ) (TSXV:CWV), a Calgary-based oil and gas company with Argentine upstream conventional oil and gas assets, and Centaurus Energy Inc. ( Centaurus ) (TSXV: CTA and OTCQB: CTARF), an independent, Canadian company focused on Argentine upstream oil and gas conventional and unconventional operations, are pleased to announce that they have entered into a non-binding term sheet (the Term Sheet ) in whi
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