I did a write up on North sea oil explorer Hurricane Energy just over a week ago and the high expectations from this company were delivered in full today with a hugely positive RNS regarding their Lancaster well. The Lancaster Field, which is 100 per cent. owned by Hurricane, has estimated 2C Contingent Resources of 207 million barrels of oil equivalent (MMboe).

Another bruising board room battle at Gulf Keystone Petroleum by the look of it. Deputy Chairman Jeremy Asher is out and CEO Todd Kozel is “retiring” but remans on the GKP board as an Executive Director.

Zambian focused Berkeley Mineral Resources has had a topsy turvy week or so. For some who got out their profits they will be feeling pleased with themselves, for others its been another expensive lesson in AIM share trading. The episode certainly speaks of over exuberance by the management team at BMR and probably very badly worded RNS releases in the context of the source of the information i.e. the Zambian press. the shares have swung widely from 1.2p to  [read more →]

Some surprise news today from Cameroon focused oil explorer, Bowleven, with the announcement of a farm out deal for their Etinde permit with LUKOIL and NewAge.

Hurricane Energy (HUR) the North Sea, AIM listed, oil explorer focusing its effort on so called “fractured basement reservoirs” in granite formations in blocks 60 miles West of Shetland is due to report important news on its latest well in coming weeks.