It was another active week in the small-cap oil and gas sector.
Aminex executive chair Charlie Santos said: “We would like to thank the TPDC for the timely payment of the settlement monies and continued support.”
Chariot Ltd (AIM:CHAR, OTC:OIGLF) inked an agreement to team up with a TotalEnergies business to develop renewable energy ventures at mining projects in Africa. Chariot will partner with Total Eren and the AIM-quoted company will take between 15 and 49% stakes in co-developed projects. The deal is for an initial three-years with an option to extend for a further two years.
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) has kicked off its Phase 2 seismic acquisition programme at the Rukwa project in Tanzania. The company, in a statement, said that the 200-kilometre 2D seismic programme was now underway to target northern extensions of known structural highs that are believed to act as a charge focus for helium migration.
Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP, OTC:VELXD) told investors that net oil sales averaged 1,077 barrels per day for the quarter ended September 30, up from 796 bpd in the preceding three-month period, as operations continue to perform ahead of expectations. The success, driven by acquired assets in Wyoming, was somewhat offset by higher butane prices – which impedes production-boosts from gas injection and in the period from late August to late October saw reduced injection volumes (from 10mmcf per day to a low of 4mmcf/d).
TomCo Energy PLC (AIM:TOM)‘s Greenfield subsidiary has now acquired the first 10% interest in the Tar Sands Holdings II (TSHII) land package, which will be used for its proposed commercial-scale plant.
The company, in a statement, said it exercised its option for TSHII and has acquired the 10% interest for a US$2mln cash consideration, of which US$500,000 was paid by crediting deposits paid previously. It retains an exclusive option to acquire the remaining 90% of the property.
Deltic Energy PLC (AIM:DELT), a UK based oil and gas exploration business which invests in the UK’s hydrocarbon provinces, has today announced the appointment of Peter Nicol as a new non-executive director.
Nicol, who has 40 years of industry experience in both the energy and investment sectors, joins Deltic with immediate effect. He previously held positions as head of European oil and gas research at Goldman Sachs (NYSE:GS), global sector director of oil and gas research at ABN Amro and his most recent position was head of oil and gas research at GMP Securities Europe.
Pantheon Resources PLC (AIM:PANR, OTC:PTHRF) said it entered into a short-term draw down facility of US$1.5mln with an existing shareholder. The oil and gas company said the funds will be used to secure equipment, goods and services ahead of the planned winter drilling programme on its Alaska North Slope projects.
It said global supply chain constraints have lengthened the lead times for securing equipment for its Alaska drilling campaign and it needs to order key equipment and materials soon to minimise the risk of disruption to drilling operations.
ADM Energy PLC (AIM:ADME, ETR:P4JC) raised a total of £475,000 through a share placing, to boost working capital as the company assesses a number of new investment opportunities. Some 31.6mln new shares are being issued at a placing price of 1.5p, and participating investors will also receive a total of 6.6mln share warrants exercisable at 3p each.
Read More: Aminex, Scirocco, Chariot, Helium One, COPL, TomCo, Deltic, Pantheon Resources, ADM Energy