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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. ....
United marked a new discovery this week as well results beat expectations. Stockbroker Cenkos upped its valuation for United Oil & Gas PLC (LON:UOG) following its latest positive announcement out of Egypt. On Tuesday, United’s 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. ....
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Proactive news headlines: Samarkand Group, Live Company, MGC Pharmaceuticals, Greatland Gold. A glance at some of the day s highlights from the Proactive Investors newswire Samarkand Group PLC (LON:SMK) said it has acquired Zita West Products Limited (ZWPL), a UK nutritional supplement brand for the fertility and pregnancy market, as well as a 51% stake in mother and baby nutritional product and probiotics maker Babawest Ltd for a total consideration of around £2.4mln. Live Company Group PLC (LON:LVCG) said it has acquired a 16.3% stake in Start Art Global Ltd, an online and digital art sales platform that it said also had the potential for the creation of non-fungible tokens (NFTs). ....
FTSE 100 consolidates early gains; US indices to open mostly lower Companies Follow John on: FTSE 100 consolidates early gains; US indices to open mostly lower The rising oil price has lifted BP and Royal Dutch Shell and they in turn have lifted the Footsie FTSE 100 rises 58 points US indices to open on the back foot Oil price rise underpins Footsie s rise US indices are expected to open mostly lower except for the narrowly-based Dow Jones 30-share index. The Dow is tipped to edge 19 points higher to 23,132 but the more broadly-based S&P 500 is seen giving up 4 points at 4,189 while the tech-heavy Nasdaq 100 is expected to slide 20 points to 13,759p. ....