LGO clearing trees ahead of Goudron drilling
13th Feb 2017 09:48
(ShareCast News) - LGO Energy confirmed on Monday that final approval was granted by the Trinidadian Forestry Department on 10 February to cut trees in order to clear the well sites for the impending two shallow infill wells at the Goudron Field in the east of the country. The AIM-traded firm said s
Read moreLGO Energy reapplies to Spanish government for oil concession
9th Feb 2017 13:13
(ShareCast News) - Oil and gas firm LGO Energy has reapplied to the Spanish government to extend its concession in the country, after it was denied an extension in January. The La Lora concession, which has a carried value of £7m and is owned by the the company's subsidiary, Compañía Petrolífera de
Read moreLGO Energy to re-apply for extension of Spain oil concession
30th Jan 2017 13:25
(ShareCast News) - LGO Energy is "disappointed" on learning the Spanish government has not approved the extension of its concession in the country and the oil and gas firm is looking to reapply. The AIM-listed company maintained that the pending the extension decision, and along with present oil pr
Read moreLGO Energy busy in Trinidad
24th Jan 2017 16:06
(ShareCast News) - LGO Energy provided an operational update on Tuesday, including plans for production drilling and enhanced oil recovery at the Goudron Field in Trinidad, its Trinidad South West Peninsula interests and group production for the fourth quarter 2016. The AIM-traded company said that
Read moreLGO Energy looking at busy year of operations
21st Dec 2016 13:50
(ShareCast News) - LGO Energy updated the market on its corporate plans for the first quarter of 2017 on Wednesday, saying its recent loan refinancing and equity placement positioned the company for an early return to drilling in the Goudron Field. The AIM-traded firm said that would happen with the
Read moreLGO energy raises £1.18m to accelerate drilling program at Trinidad wells
13th Dec 2016 07:57
(ShareCast News) - AIM-listed oil and gas explorer LGO Energy has raised £1.18m in equity to accelerate the drilling of its sandstone wells in Trinidad. The company will use the £1.funds raised to hasten the drilling of the Mayaro sandstone infill wells at its Goudron Field in Trinidad, and for use
Read moreLGO Energy looking ot restart drilling at Goudron
12th Dec 2016 14:26
(ShareCast News) - LGO Energy updated the market on its plans to recommence production drilling at the Goudron Field in Trinidad on Monday, following its announcements on 7 and 9 December confirming the refinancing of the company's loan facility. The AIM-traded firm's local operating subsidiary, Gou
Read moreLGO Energy completes refinancing
9th Dec 2016 14:28
(ShareCast News) - LGO Energy confirmed on Friday that, as announced on 7 December, its refinancing had now completed. The AIM-traded company said first close on the transaction agreed with the Lind Partners occurred on Friday. "LGO received the proceeds from the first drawdown of $1.825m on the Li
Read moreLGO Energy secures funding for drilling project
7th Dec 2016 09:24
(ShareCast News) - LGO Energy, AIM listed oil and gas exploration company, has announced that it has secured a new $8.6m convertible security funding agreement to pay back its debt and restart its development drilling program at its Goudron Field. The first drawdown of the $1.8m on the funding agree
Read moreLGO Energy sells over 10,000 barrels of oil in Spain
29th Nov 2016 09:06
(ShareCast News) - Oil and gas company LGO Energy has sold over 10,000 barrels of surplus crude oil in Spain. The company's subsidiary Compañia Petrolifera de Sedano, is to deliver 11,200 barrels of surplus crude oil that was built up at the Ayoluengo oil field in December and January 2017 to a Span
Read moreLGO Energy starts pumping at recompleted Trinidad well
27th Apr 2016 16:15
(ShareCast News) - LGO Energy excitedly announced the start of production from a new interval in well GY-671 on the Goudron Field in Trinidad on Wednesday. The AIM-traded company had added a total of 208 feet of perforations to the Upper C-sand reservoir after setting a packer to isolate the zone. I
Read moreLGO Energy mobilises second rig at Goudron
6th Apr 2016 15:24
(ShareCast News) - LGO Energy was pressing ahead with the restoration of production at Goudron Field in Trinidad on Wednesday, moving a second rig to join current operations at the site.. The AIM-traded firm's local subsidiary, Goudron E&P, confirmed it had mobilised a second workover rig to the fie
Read moreLGO Energy agrees debt repayment deal with BNP Paribas
4th Mar 2016 15:06
(ShareCast News) - AIM-listed LGO Energy has reached an agreement with BNP Paribas that will see its debt repayment reduced. Under the new agreement, the March 2016 installment will be cut to $100,000, after which the remaining outstanding balance will be recovered over the following 18 months. The
Read moreLGO Energy claims progress in investment talks
24th Feb 2016 10:30
(ShareCast News) - Shares in LGO Energy surged as investors excitement over a potential $20m new investment offset worries about defaulted debts. The AIM-listed oil explorer, which was hit by a cash crunch after a drilling mishap in September and put itself up for sale in December, said it had signe
Read moreLGO Energy may put itself up for sale as part of strategic review
7th Dec 2015 09:32
(ShareCast News) - LGO Energy has begun a formal strategic review of its business and assets to consider all options to maximise shareholder value, as it announced the cancellation of its sale and purchase deal with Trinity Exploration & Production. The oil production and development company, which
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