Feb. 24
Quadrise Fuels' (LON:QFI) shares rose after the extension of a royalty agreement. An deal between Quadrise International and A.P. Moller-Maersk been extended by three years.
The agreement, which dates from February 2011, had been extended to December 31, 2022. Quadrise Fuels is an emerging supplier of a low-cost alternative to fuel oil in the shipping, refining and power generation markets.
The royalty agreement provides the legal framework and key terms for future commercial supplies of Marine MSAR fuel to Maersk and to third parties when the current programme transitions from development to commercial production and fuel supplies.
Separately, the company said it how has several projects at an advanced stage at the same time.
Falkland Oil and Gas Limited (LON:FOGL) says PGS M/V Ramform Titan has completed a 3D seismic survey over the Cretaceous Hersilia Fan complex within the group's Northern Area licences.
A total of 5,747 square kilometres of full fold seismic data have been acquired. This survey was designed to target a number of prospects and leads including Hersilia, West Hersilia and Challenger. The survey was operated by Noble Energy on behalf of the Joint Venture, which also includes Edison International Spa. The survey was completed within budget.
The data will now be processed by PGS and a fast track product will be available for interpretation in approximately three months. It is anticipated that the final processed data will be available in the third quarter of 2014. The fast track data will be used to commence prospect mapping and the selection of well locations.
This is the third and final 3D survey prior to the next drilling programme, which is expected to commence in early 2015. The joint venture has now acquired 12,000 square kilometres of high quality 3D seismic data and is very encouraged by the results of the first two surveys.
Gulf Keystone (LON:GKP) has confirmed its intention to apply for admission on the London Stock Exchange main market and has given notice of its cancellation from AIM.
Providence Resources (LON:PVR) has provided a technical update on a major new 3D seismic programme, which is planned to be acquired by Polarcus, subject to statutory assessment, in the southern Porcupine Basin, offshore south-west Ireland.
This non-exclusive multi-client survey, which was planned to start this summer, would cover the deep-water Drombeg exploration prospect that was located in Frontier Exploration Licence (FEL) 2/14.
The Drombeg Licence, which is situated in c2,500 m water depth and c. 220 km off the west coast of Ireland is operated by Providence Resources (80%) on behalf of its partner Sosina Exploration Limited (20%). Providence and Sosina recently converted Licensing Option (LO) 11/9 into FEL 2/14 (see RNS of 20th January 2014).
The total planned seismic acquisition programme will cover a minimum area of 3,200 km2, which will include c. 1,065 km2 over the Drombeg Licence.
Under the terms of the recently executed agreement, Providence and Sosina have agreed to licence a total of 2,250 km2 of data which will include the area over the Drombeg Licence and adjacent open acreage for a fixed sum.
This 3D seismic programme will fulfil the seismic data acquisition work programme obligations for the first phase of FEL 2/14. Polarcus plan to carry out the seismic acquisition programme using one of their high-end "A" class 3D vessels.
Europa Oil & Gas's (LON:EOG) 100% owned Tarbes Val d'Adour permit in the proven Aquitaine Basin, onshore France has been extended until 18 January 2015.
Tarbes Val d'Adour contains several oil accumulations that were previously licensed by Elf but were abandoned in 1985 due to a combination of technical issues and low oil prices. Two fields, Jacque and Osmets, were drilled using vertical wells which generated modest production levels.
Nostra Terra (LON:NTOG) said the CT9 (Mel B 1-33) well was successfully drilled to a Total Measured Depth (TMD) of 12,045 feet, at a true vertical depth of approximately 7,300 feet with an estimated 4,200 foot lateral in the Hunton formation, and is now in production.
Nostra Terra has a 7.38% Working Interest ("WI") in this well, which is operated by Husky. Average production rates will be announced once the rate of production has stabilized.
It said the CT10 (Katy 21-1H) well was now permitted to drill. The well is planned to be drilled to a TMD of 12,335 feet with a lateral of about 4,661 feet in the Hunton formation. Nostra Terra has a 1.87% WI in this well, which will be operated by Gastar.
The CT11 (Bugg 1-25H) well was successfully drilled to TMD of 11,800 feet, at a true vertical depth of 7,120 feet with a 4,949 foot lateral in the Hunton formation.
Hydraulic Fracturing Operations ("fraccing" or "fracking") are now underway. Nostra Terra has a 3.55% Working Interest ("WI") in this well, which is operated by Payne Exploration.
Source: http://www.moneyam.com/action/news/showArticle?id=4761142
Quadrise Fuels' (LON:QFI) shares rose after the extension of a royalty agreement. An deal between Quadrise International and A.P. Moller-Maersk been extended by three years.
The agreement, which dates from February 2011, had been extended to December 31, 2022. Quadrise Fuels is an emerging supplier of a low-cost alternative to fuel oil in the shipping, refining and power generation markets.
The royalty agreement provides the legal framework and key terms for future commercial supplies of Marine MSAR fuel to Maersk and to third parties when the current programme transitions from development to commercial production and fuel supplies.
Separately, the company said it how has several projects at an advanced stage at the same time.
Falkland Oil and Gas Limited (LON:FOGL) says PGS M/V Ramform Titan has completed a 3D seismic survey over the Cretaceous Hersilia Fan complex within the group's Northern Area licences.
A total of 5,747 square kilometres of full fold seismic data have been acquired. This survey was designed to target a number of prospects and leads including Hersilia, West Hersilia and Challenger. The survey was operated by Noble Energy on behalf of the Joint Venture, which also includes Edison International Spa. The survey was completed within budget.
The data will now be processed by PGS and a fast track product will be available for interpretation in approximately three months. It is anticipated that the final processed data will be available in the third quarter of 2014. The fast track data will be used to commence prospect mapping and the selection of well locations.
This is the third and final 3D survey prior to the next drilling programme, which is expected to commence in early 2015. The joint venture has now acquired 12,000 square kilometres of high quality 3D seismic data and is very encouraged by the results of the first two surveys.
Gulf Keystone (LON:GKP) has confirmed its intention to apply for admission on the London Stock Exchange main market and has given notice of its cancellation from AIM.
Providence Resources (LON:PVR) has provided a technical update on a major new 3D seismic programme, which is planned to be acquired by Polarcus, subject to statutory assessment, in the southern Porcupine Basin, offshore south-west Ireland.
This non-exclusive multi-client survey, which was planned to start this summer, would cover the deep-water Drombeg exploration prospect that was located in Frontier Exploration Licence (FEL) 2/14.
The Drombeg Licence, which is situated in c2,500 m water depth and c. 220 km off the west coast of Ireland is operated by Providence Resources (80%) on behalf of its partner Sosina Exploration Limited (20%). Providence and Sosina recently converted Licensing Option (LO) 11/9 into FEL 2/14 (see RNS of 20th January 2014).
The total planned seismic acquisition programme will cover a minimum area of 3,200 km2, which will include c. 1,065 km2 over the Drombeg Licence.
Under the terms of the recently executed agreement, Providence and Sosina have agreed to licence a total of 2,250 km2 of data which will include the area over the Drombeg Licence and adjacent open acreage for a fixed sum.
This 3D seismic programme will fulfil the seismic data acquisition work programme obligations for the first phase of FEL 2/14. Polarcus plan to carry out the seismic acquisition programme using one of their high-end "A" class 3D vessels.
Europa Oil & Gas's (LON:EOG) 100% owned Tarbes Val d'Adour permit in the proven Aquitaine Basin, onshore France has been extended until 18 January 2015.
Tarbes Val d'Adour contains several oil accumulations that were previously licensed by Elf but were abandoned in 1985 due to a combination of technical issues and low oil prices. Two fields, Jacque and Osmets, were drilled using vertical wells which generated modest production levels.
Nostra Terra (LON:NTOG) said the CT9 (Mel B 1-33) well was successfully drilled to a Total Measured Depth (TMD) of 12,045 feet, at a true vertical depth of approximately 7,300 feet with an estimated 4,200 foot lateral in the Hunton formation, and is now in production.
Nostra Terra has a 7.38% Working Interest ("WI") in this well, which is operated by Husky. Average production rates will be announced once the rate of production has stabilized.
It said the CT10 (Katy 21-1H) well was now permitted to drill. The well is planned to be drilled to a TMD of 12,335 feet with a lateral of about 4,661 feet in the Hunton formation. Nostra Terra has a 1.87% WI in this well, which will be operated by Gastar.
The CT11 (Bugg 1-25H) well was successfully drilled to TMD of 11,800 feet, at a true vertical depth of 7,120 feet with a 4,949 foot lateral in the Hunton formation.
Hydraulic Fracturing Operations ("fraccing" or "fracking") are now underway. Nostra Terra has a 3.55% Working Interest ("WI") in this well, which is operated by Payne Exploration.
Source: http://www.moneyam.com/action/news/showArticle?id=4761142
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