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TRADING UPDATES: Wentworth payout up; Distribution Finance loss steady

TRADING UPDATES: Wentworth payout up; Distribution Finance loss steady
Wed, 21st Apr 2021 19:18
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
Wentworth Resources PLC - Tanzania-focused natural gas producer - Revenue for 2020 rises 1.9% to USD19.0 million from USD18.6 million in 2019, while pretax profit surges to USD2.2 million from USD987,000. Profit growth outstrips revenue increase as cost of sales falls 7.1% to GBP9.4 million. Says performance was strong and resilient against challenging backdrop. Declares dividend of 1.0 pence per share, bringing total dividend for year to 1.5p, up 27% on 2019. Adds that it has seen a record first quarter performance to date, with average production volumes for the first quarter of 2021 84.7 million standard cubic feet per day per day versus 63.6 million a year ago. ....

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Argentina: President Energy announces Rio Negro drilling update

Argentina: President Energy announces Rio Negro drilling update
energy-pedia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energy-pedia.com Daily Mail and Mail on Sunday newspapers.

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Argentina: President Energy announces Rio Negro drilling update

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). ....

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Oil price, President, Helium One. And finally…

Oil price, President, Helium One. And finally…
proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.

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"Progress continues" as President Energy spuds new well in Argentina

Progress continues as President Energy spuds new well in Argentina
Fri, 16th Apr 2021 11:06
(Alliance News) - President Energy PLC has spudded a new gas well in Argentina, it said on Friday.
The oil and gas company announced its EV-1001 well at the Estancia Vieja field in Rio Negro, Argentina, has spudded ahead of schedule to a target depth of 1,850 metres. With an estimated cost of USD1.8 million, President projected initial production of 350 barrels of oil equivalent per day.
In a brief statement Chair Peter Levine said: Progress continues. Onwards and both upwards and downwards as the case may be.
It also announced the workover of its LB-1001 well in the Las Bases field, Rio Negro had been successfully completed. Testing revealed free flowing gas production of more than 350 boepd. Eventual production levels of 470 boepd were considered achievable, it said. ....

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