Proactive news headlines: Eden Research, Primary Health Properties, Silence Therapeutics, IronRidge Resources.
A glance at some of the day s highlights from the Proactive Investors newswire
Eden Research PLC (LON:EDEN) said it has signed what it called a ‘milestone agreement’ with Corteva Agrisciences for its seed treatment application.
Primary Health Properties PLC (LON:PHP) said its rental collection has remained robust so far in 2021 as the healthcare facilities firm updated investors of its performance for the first quarter, while rental income from its existing portfolio continued to grow.
Great Western Mining Corporation PLC (LON:GWMO) said an initial six-hole drilling programme at the Trafalgar Hill prospect, part of the Olympic Gold project, has been completed “significantly ahead of schedule and under budget”.
09:00 Sat 08 May 2021
Proactive weekly oil and gas highlights: United Oil & Gas, Bahamas Petroleum, DGOC, Mosman, i3 Energy, JOG, Genel, 88 Energy, Zephyr
It was another active week in the small cap oil and gas sector.
United Oil & Gas PLC (LON:UOG) this week added another new discovery in Egypt after its partner Kuwait Energy submitted a notice of commercial discovery to the authorities. It comes as testing of the ASD-1X exploration well confirmed positive results.
The well encountered the lower Bahariya and Abu Roash C (ARC) reservoirs, and, performed positively in short term testing. In the Lower Bahariya reservoir, the well flowed at a maximum rate of 2,187 barrels oil equivalent per day (boepd) meanwhile the ARC reservoir measured a maximum rate of 1,489 boepd. United highlighted that the headline results exceed the company’s own internal expectations.
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, advises an update in respect to EP 145 in the Amadeus Basin in the Northern Territory of Australia ( NT ). As previously advised, Mosman is now operating in two distinct divisions. Dr Julie Daws, in consultation with the Technical Director, Mr. Andy Carroll, is managing Mosman s exploration work in Australia, specifically EP 145 airborne gravity and seismic acquisition. Bids have now been received for the airborne gravity data acquisition and are currently being evaluated. As there are not currently any Covid-19 restrictions in the Northern Territory where EP145 is located, and no ground access is required, this survey is able to proceed in the near future once a contractor is selected and equipment is available.
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Proactive Oil & Gas highlights: DGOC, 88 Energy, Tullow, Mosman, ADM Energy, Canadian Overseas Petroleum, Jersey, United Oil & Gas
It was another active week in the junior oil and gas sector.
Diversified Gas & Oil PLC (LON:DGOC) acquired a package of assets in Louisiana, marking its first deal in a newly identified ‘central’ regional focus area (RFA). The company is paying US$135mln for upstream assets and related facilities from Indigo Minerals LLC. The package, referred to as Cotton Valley, includes some 16,000 barrels oil equivalent per day (boepd) of production across 780 net operated wells.
It is host to around 50mln barrels of proved-developed-producing (PDP) reserves. And the company highlighted that the operations benefit from Gulf Coast pricing, which the company noted means higher realisations.