Ireland-focused oil firms boosted as FTSE 100 Index rises
The FTSE 100 Index closed 24.02 points up at 6209.63
Company
LON:EOG
Europa Oil & Gas (Holdings) plc is an exploration and production company focused on developing its balanced portfolio of assets in the North Sea, Atlantic Ireland and West Africa, supported by revenue from onshore oil production in the UK.
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The FTSE 100 Index closed 24.02 points up at 6209.63
Chief executive Hugh Mackay said he was “delighted” to have bagged four licence options this time around.
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The weekly round up news and updates from the world of oil
Highlands Natural Resources and Union Jack Oil flew the flag for the oil sector, which otherwise was depressed by the slide in the oil price.
Gemfields hits a new record, Mariana expects to complete a new resource estimate and Telit strikes a new deal for its internet of things platform.
Holmwood is located about 12 kilometres to the Horse Hill oil discovery, and the plan is to test similar targets.
Europa is well placed to not only weather low oil prices, but has been also to advance its ever-growing multistage portfolio of assets onshore UK and offshore Ireland.
If you don’t yet have a horse in the race, here are the runners and riders.
Investor Update: Today's update is a timely reminder of the value that the Company has created either through judicious investment in appraisal and development assets, or through the drillbit.
Below are some of the main news-driven changes in London at 4.15pm
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As global blue-chip equity markets capitulated, the London’s AIM market unsurprisingly remained on the back-foot, naturally though there were plenty of lowlights and highlights to spur trading on a stock-by-stock basis.
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Motive Television faces market suspension, Tekcapital sees board member resign and big news for Europa.
Biggest share price risers and fallers in London at 1.30pm
Europa was the only small cap explorer among the initial awards, and has also now begun a farm-out process to bring a ‘major or mid-cap’ oil company into the existing FEL 2/13 and 3/13 assets.
AIM quoted Europa was in good company as it landed new acreage offshore Ireland alongside majors like CNOOC, ExxonMobil, BP and StatOil.
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Shareholders signed off Shell’s acquisition of BG.
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Junior mining stocks featured prominently on Tuesday
Investments and investor services
The FTSE 100 Index recovered to stand 9.65 points off at 5867 by lunchtime
Investments and investor services
The FTSE 100 Index tumbled 83.76 points to 5793 as oil prices fell back below US$30 a barrel
Egdon believes the Laughton prospect may contain recoverable resources of 1.3 mln barrels of oil. Bramhil said the acquisition would mean a busy start to 2016 with the Keddington-5
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It was a bad day for mining companies as mineral prices crumbled, but a good one for UK oil & gas players
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The day's small cap news was dominated by the latest UK oil & gas licensing round.
The Oil & Gas Authority awarded 93 onshore hydro-carbon licences across 159 blocks
“The new awards comprise a mix of field rejuvenation, appraisal and exploration," CEO Hugh Mackay highlighted.
Among the recipients are London quoted IGas, Ithaca Energy, Europa, Egdon Resources, UKOG, and Solo Oil.
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On the week where Brent crude fell below US$40 a barrel, there was a few corporate smatterings and UK project Horse Hill was once again in the frame.
“The response we are getting from major and mid-cap companies is highly encouraging,” said chief executive Hugh Mackay.
Investments and investor services
Strategic Minerals, Motive Television and REM also reported today
FOGL's disappointment in the deep-waters of the South Atlantic was probably the week's high profile story
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The FTSE100 had remained flat through most of the day, but ended the day 25 points lower to 6,418.
Investments and investor services
There were a lot of boardroom changes made today in the small cap space
While there were some rises in Asia overnight, markets in European markets got off to a mixed start of the week.
The mood was subdued ahead of the US Federal Reserve’s meeting later this week.
Investments and investor services
A mixed reaction to changes to the board compositions of some companies.
Europa highlighted the recent high level of participation in the recent licensing round.
Investments and investor services
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.
Investments and investor services
The only way was up after Mario Draghi's press conference proved sweet music to the ears of the bulls
"We’re comfortable in now making the decision to develop,” said Mark Abbott, Egdon managing director
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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
Spend! Spend! Spend! Retail sales surged in September. Time to up that overdraft limit ...
Investments and investor services
Below are the main news-driven share price movements at 12.30pm.
The partners reckon production in excess of 500 barrels of oil a day per well can be achieved from Wressle.
Investments and investor services
There was a lot of news from the small cap space today
News of lower US oil production capacity buoyed markets
Below are the main news-driven share price movements at 4pm.
Europa said it is determined to expand its position in Ireland.
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The FTSE 100 ended 1.6%, or 96.4 points higher at 6,032.
Investments and investor services
Oil and mining dominated the small cap headlines today
The consortium now has planning permission for both the surface site and the underground drilling corridor.
Investments and investor services
There were a number of companies reporting interim results today...
Kosmos’s withdrawal from existing projects is a blow, but, industry sources suggest it may be a case of one step back and at least two steps forward for Ireland’s Atlantic margin
Below are the main news-driven share price movements at 3.30pm.
Europa had estimated a 15% stake in one of two licences was worth US$1.6bn - it will now own 100% of both
Europa currently produces hydrocarbons from six wells across three fields UK onshore fields close to Wressle.
Falcon's programme got off to a good start in Australia
Investments and investor services
Europa reckons Wressle could be bigger, Atlantis sees good progress and Asiamet boss buys shares
“We are encouraged by the results of the EWT of the Penistone oil zone," Hugh Mackay said
Investments and investor services
The mining sector took centre stage today in the world of small caps...
“Europa looks forward to further announcements from the OGA with great interest.”
It is in the national interest according to Lenigas
“We are pleased with the planning inspector’s decision,” said Hugh Mackay, chief executive of Europa
A planning decision is expected in the coming days for the Holmwood project
The award is for a Promote licence that requires a drilling decision within two years.
Just over half of shareholders took up the offer at 6p.
Europa's house broker said the results from the first stage of the extended well test were excellent.
Production updates, junior funding deals and new opportunities, so, just another week in the oil sector then
Europa has now secure the first £1.4mln of a £3.4mln funding
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As Greece and the UK Budget were a big part of the chatter, there was a mixed bag of small cap news on Tuesday. Mobile security surveillance firm Servision (LON:SEV) saw shares rise over 6% as it revealed it is to provide its technology at
Investments and investor services
A number of technology companies were celebrating contract wins today.
Investments and investor services
A 50 point fall is rarely a good result but the general view after Greece's emphatic referendum vote yesterday was that it could have been worse.
The new cash is earmarked for the Wressle field start-up and other ventures
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Eurozone leaders call emergency summit to discuss referendum response
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Scaffolding specialist Billington was climbing high after saying half year results would be significantly ahead of market expectations.
Chief executive Hugh Mackay said he was pleased to have the support of institutional investors
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While the world’s stock markets fretted over a possible exit from the Eurozone by Greece, life went on much as normal for the small caps.
UKOG is teaming up with Egdon Resources and Europa
No surprise fracking was in the news this week and opponents of the process were celebrating a victory following Lancashire council’s decision....
Biscathorpe is located about 15 kilometres away from the Wressle discovery
Fyffes' earnings are ahead of the curve for the second year in a row
Investments and investor services
Plenty of scope for confusion today, with similarly named companies vying for attention with UK onshore oil developers.
Investments and investor services
UK investors shrugged off concerns over Greece to follow US equities higher in the afternoon session
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Traders sit tight as stand-off between Greece and creditors continues
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FTSE 100 Index trades 16.57 points adrift at 6663.98
It marks a significant milestone for AIM firms Europa Oil & Gas, Egdon Resources and Union Jack Oil
A firm start on Wall Street encouraged a rally in London
Production testing at Wressle and exploration offshore Ireland will be catalysts for the AIM share
A deep-water well in Ireland’s Atlantic margin could be a ‘bargain’ at just US$60mln