Oil companies round-up: Rockhopper, Caza Oil, Sound Oil

29th Sep 2010 14:42

Interest in North Falkland Basin oil and gas explorer Rockhopper is so high that the company has had to move to a bigger venue for its annual general meeting (AGM).The AGM, scheduled to start at 11:45am on Thursday, September 30, will now take place at Gibson Hall, 13 Bishopsgate, London EC2N 3BA.The £925m company, which only floated on AIM five years ago, plugged and abandoned the Sea Lion 1 well earlier this week while it pores over the drill and test results.Caza Oil & Gas hit new highs Wednesday on news that the Devon Energy-operated Caza 158 #1 well in Upton County, Texas, indicated multiple potential pay sands.London-listed Caza has a 25% working interest and a corresponding 18.75% net revenue interest in the 158 well and in Caza 162 #1 where drilling has already begun.Due to the £13.4 million write down of the Bangkanai exploration and evaluation asset, Sound Oil incurred a loss after tax of £13.9m in the first six months of 2010, compared to a loss of £1.9m the year before. The Indonesia-focused oil company's cash balances in sterling terms at the end of the period were £9.1m compared with £10.6m at the end of 2009.