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Proactive Oil & Gas highlights - Bowleven, Aminex, Premier Oil, Tullow, Falcon, 88 Energy
Bowleven's deal to team up with Aminex and Solo Oil in Tanzania was a notable highlight
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LON:88E
88 Energy Ltd is a multi-listed oil and gas exploration and production company with a North American focus. The company has operator exploration and appraisal projects in onshore Alaska and non-operator exploration in onshore Namibia. It has been operating on the North Slope of Alaska since 2015, successfully drilling multiple exploration wells and acquiring extensive seismic data across a large acreage position.
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Bowleven's deal to team up with Aminex and Solo Oil in Tanzania was a notable highlight
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88 Energy, Paragon Diamonds, Range Resources and Victoria Oil & Gas also had news out
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Below are the main news-driven share price movements at 4pm.
The company plans to significantly increase its position, adding 174,240 acres to take the total size of the project to 272,242 acres.
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Highlights of the news developments from the growth companies universe
Managing director Dave Wall said securing a dominant positon in the area was a “strategic imperative” ahead of the Icewine results.
Boss Dave Wall says excellent progress had been made prior to the problem, and the well remains on budget
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Here are last weeks highlights from the oil and gas sector
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Although hardly the scary falls one might expect on Friday 13th, the FTSE100 lost around 60 points to 6,115.
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88 energy, Horizonte Minerals and Horizon Discovery were all also in the news
The Footsie fell 59.44 points to 6119 in lunchtime trading
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Prices fell as China released weak credit data, sending the Shanghai Composite down
"We are now making excellent progress through the Brookian and towards the primary objective in the HRZ," Dave Wall said
FOGL's disappointment in the deep-waters of the South Atlantic was probably the week's high profile story
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North River, Silence Therapeutics and Clinigen also reported.
88 Energy will soon drill into the "more geologically interesting" parts of the well
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Fastjet, Ortac Resourves and Genel Energy also had news out...
88 Energy ended the quarter to September with net cash reserves of A$9.3 million (around £4.3mln), it told investors today, as it updated on a busy period.
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Here's a select batch of this week's small cap highlights
Small cap firms were boosted by fast-track news, as the pace picked up for key projects.
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Pharma companies and energy firms were in the news today...
China has cheered the market, especially investors in resource stocks, by announcing further stimulus measures
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Footsie broke above 6400 and mainland European bourses also rose
“Spud at Icewine #1 is a momentous occasion for 88 Energy," said MD Dave Wall
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The only way was up after Mario Draghi's press conference proved sweet music to the ears of the bulls
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Lots of positive news from the oil sector today from places as far afield as Morocco, Alaska and ... er ... Lincolnshire.
The FTSE 100 Index was 7.5 points down at 6340 in lunchtime trading
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The FTSE 100 Index was 5.73 points down at 6342 in early trading
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Below are the main news-driven share price movements at 12.30pm.
88 Energy shares advanced around 5.5% in early deals
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The FTSE100 ended 25 points lower to 6,352 as oil stocks also made an appearance near the bottom of the index.
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Miners and oil firms dominated the small cap news today
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The FTSE 100 Index pared gains to stand 16.06 points adrift at 6361
Once the permit is issued, well-spudding should take place soon after...
Below are the main news-driven share price movements at 1pm.
Project Icewine comprises an exciting shale play as well as conventional oil targets
“We appreciate that this is frustrating for shareholders at this late stage; however, the company has the situation well in hand," Dave Wall said
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Below are the main news-driven share price movements at 4pm.
Project Icewine, in Alaska, is host to an exciting shale play as well as conventional oil targets on the acreage.
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There was a lot of news from the small cap space today
BoA is putting up US$50mln and with US$12mln raised from a share issue, 88 is gearing up to drill Icewine-1.
The well, Icewine 1, has a planned spud date in mid-October
The week's oil and gas highlights included LGO Energy, 88 Energy, Mosman, President Energy, VOG, Gulf Keystone, Tethys Petroleum
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Mining and oil dominated the news in the world of small caps today
The authorities of America’s most northerly state signed off the lease plan of operations for the drilling of Icewine-1 – meaning it has now entered the exploration phase.
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Crude price talk was again in focus, but there was a smattering of corporate news dfrom the sector too....
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A look back at today's most notable news from the world of small caps...
The Aussie broker draws that conclusion from the extent of three prolific source rocks across the area’s North Slope.
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It was a busy day in the small cap world with Gemfields garnering much attention...
Having dropped 35 points in early deals, the FTSE 100 had lost almost 90 points, or 1.4% to 6,139 by lunch.
Below are the main news driven share price movements at 1pm.
“We are now fully funded, with a rig. The last of the permits required are also falling into place," Dave Wall said.
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A flurry of announcements from the consortium involved in Horse Hill got investors excited today.
Footsie falls 81 points as Chinese central bank cuts rates
88 Energy now owns an 87.5% stake in the Icewine exploration project in Alaska.
Footsie falls 81 points as Chinese central bank cuts rates
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The FTSE 100 ended the day 102 points lower, 1.68% to 5,979
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On ‘Black Monday’ investors were sent running as China concerns caused a panic, but in the world of small caps, a few were able to buck the trend.
Drilling can now go ahead, and spudding is on track for October
Below are the main news-driven share price movements at 3.15pm.
On what some are calling ‘Black Monday’ the FTSE 100 was hit to the tune of £80bn, suffering its worst day since 2009.
A A$12mln (£5.6mln) placing announced last week will fund the bulk of the A$22.5mln cost.
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A round-up of the day's news from growth companies.
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The days of a whole-integer benchmark interest rate could soon be returning
Dave Wall, 88 Energy's MD, says the placing had overwhelming support from investors
Hardware & electrical equipment
Oil and mining stocks bore the brunt of market pessimism today, while chip-designer ARM was hit by a double whammy
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German parliament signed off on the £60bn rescue package last week.
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Rambler Metals rose after it completed its pre-feasibility study.
FTSE100 higher but gold price tanks as Greece situation eases
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A number of resource companies have successfully raised fresh capital today, while another has been on a cost-cutting drive.
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Primark's growth makes Associated British Foods' name more of a misnomer year-by-year
88 Energy updated on the ownership transfer for its project Icewine in Alaska, saying the process from now on was transparent and straightforward.
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A round-up of the significant news in the Proactive universe
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The Footsie ebbed in the afternoon as Greek debt negotiations took a turn for the worse, but the index still finished in positive territory.
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London's blue chips are higher despite some last minute wrangling in the set-to between Greece and its pay-masters, but the mid-cap index takes some lumps.
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Supermarkets are on the shopping list of many investors
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Traders stay optimistic about deal between Athens and Brussels
The explorer aims to start drilling the first Project Icewine well in the second half
The morning's gains ebbed away as negotiations between Greece and its creditors took a turn for the worse
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Ariana shares advanced as much as 60% higher at one point this week as the long awaited project milestone was confirmed.
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“The results reported by Repsol and Armstrong are outstanding and well above expectation,” Wall said.
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Britain's blue chips sank 91 points lower to finish firmly in the red on Thursday with banking titan HSBC in focus.
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A pair of profit warnings meant IT contractor Scisys and high pressure product manufacturer Pressure Technologies were the biggest fallers on a disappointing day for equities.
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Greece (what a surprise), Horse Hill, Inmarsat and the ongoing Fifa drama were popular themes in webworld. The deadline is almost upon Greece as it owes £220mln to the IMF tomorrow (Friday) but that doesn't appear to be bothering the newly
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Location, location, location goes the mantra in retail, and it could also apply to oil exploration, given that 88 Energy has been given a boost by a neighbour’s well results
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London’s blue-chip stocks took a pounding in early deals, after European Central Bank president Mario Draghi forecast faster euro-area inflation and said market volatility will continue.
Very large commercial discoveries have been made about 50 miles from 88 Energy's Project Icewine