Leni Gas & Oil unveils update on Maxim joint venture in Trinidad
23rd May 2013 13:47
AIM-listed Leni Gas & Oil (LGO) has published an update on its joint venture agreement in Trinidad with Vancouver-based oil and gas production company Maxim Resources, relating to a proposed transaction whereby Maxim and LGO would work together to pursue oilfield development opportunities in the Rep
Read moreLeni Oil and Gas widens annual losses as production falls
29th Apr 2013 12:36
Leni Gas and Oil (LGO) reported a fall in annual production as a result of a weak performance in the Gulf of Mexico and the sale of properties in the US. Production in the year to December 31st 2012 came to 58,450 barrels of oil equivalent (boe), down from 64,650 boe a year earlier. The group wi
Read moreLeni Gas and Oil prepares new wells in Trinidad
3rd Apr 2013 08:17
Leni Gas and Oil said on Wednesday it expects a 50 per cent increase in the number of wells in operation at its Goudron oilfield in Trinidad. The oil and gas company said 10 new pump jacks have arrived and are being installed to begin work on additional wells. It is anticipated that 10 new wells
Read moreLeni Gas & Oil announces jump in production levels
29th Jan 2013 08:04
AIM-listed Leni Gas & Oil (LGO) said Tuesday that in the last week production at the Goudron and Icacos Fields in Trinidad has averaged over 170 barrels of oil per day (bopd), with production reaching 201 bopd on January 27th. LGO, which is currently producing from a total of 22 wells, has a 100%
Read moreLeni takes Mediterranean fight to the courts
3rd Jan 2013 13:58
Leni Oil and Gas has started legal proceedings against Mediterranean Oil and Gas (MOG), claiming it was misled into selling its interest in a Maltese oil field. In July 2012 Leni sold its 10% interest in Malta Area 4 PSC to MOG for $1 plus liabilities. MOG subsequently entered into a farm-in agree
Read moreSDL head shows faith after profit warning
27th Nov 2012 16:28
The Chairman and Chief Executive of troubled business, translation and communications software company SDL has added 170,532 shares to his stake in the company one day after it issued a profit warning. Mark Lancaster, who also founded the group in 1992, was clearly keen to show his faith in the gr
Read moreLeni Oil & Gas set to boost Trinidad activity
22nd Nov 2012 10:45
Leni Oil & Gas (LGO) said the completion of a farm-in agreement meant it could ramp up activity in Trinidad. LGO has taken over leases in the North Moruga area from the Advance Oil Company meaning it will be assigned a 49% interest in the private petroleum leases and Petrotrin sub-leases. It will
Read moreResources round-up: Lenigas, Altona, Egdon Resources
5th Nov 2012 16:02
Oil explorer Lenigas continued its recent good run after its revealed it has sold its remaining minority in the US Gulf of Mexico. The company is receiving $1.25m for its interests in seven leases which, during 2011, earned £383,000 in revenue for the company and £204,000 in profits. The funds obta
Read moreSector movers: BP boosts gains for oil and gas producers
30th Oct 2012 15:11
Oil and gas producers were making gains on Tuesday afternoon despite declining oil prices, as BP lifted sentiment in the sector with forecast-beating third-quarter results and a hiked quarterly dividend. In its first quarterly announcement since the recent deal with Rosneft, BP reported a clean net
Read moreLeni Gas and Oil announces handover of Goudron Field
22nd Oct 2012 08:23
AIM-listed Leni Gas & Oil (LGO) has announced the final transfer of 100 per cent ownership of the Goudron Field incremental production service contract (IPSC) onshore south-eastern Trinidad from the current contract owner to LGO's subsidiary, Goudron E&P. The IPSC, along with the Petroleum Company
Read moreResource round-up: Enegi Oil, Roxi Petroleum, Leni Oil & Gas
4th Sep 2012 09:06
Canada and Ireland-focused oil and gas group Enegi Oil says that field studies on areas of interest within the Clare Basin in Southern Ireland have been 'extremely encouraging' and indicated higher-than-expected prospectively. Further testing is ongoing. The firm also announced that it has appointe
Read moreTuesday newspaper round-up: Fragmentation, EU, Tax-cuts
4th Sep 2012 06:37
Interest rates paid by companies in the Eurozone's weaker economies have surged, highlighting the bloc's fragmentation as the European Central Bank loses control of borrowing costs. ECB data on Monday showed Spanish small businesses face the highest bank borrowing costs in almost four years - while
Read moreResource round-up: Lochard Energy, Magnolia Petroleum, Leni Oil & Gas
3rd Sep 2012 11:41
Lochard Energy has put itself on the block in a bid to boost interest in a farm out of its Thunderball and Moby discoveries. The firm has had a turbulent year that resulted in the ousting of its board and a AUS$9m fine that wiped out any profits that could have come from the AUS$1.8m revenues it pul
Read moreResource round-up: Touchstone Gold, Stellar Diamonds, Amur Minerals
6th Aug 2012 10:20
Touchstone Gold said it was merging with Atlantis Gold to create what the firm called "a leading Colombia focused gold exploration and development company". Touchstone said shareholders would benefit from a consolidation of quality neighbouring assets and the deal would give it critical mass in a pr
Read moreResources round-up: Metminco, Sable Mining, Mediterranean Oil & Gas
1st Aug 2012 14:15
Metminco said it had made significant progress during the three months to June at Los Calatos in Peru, and Mollacas in Chile. It said conceptual mining studies at the sites had taken the firm closer to mine development and, ultimately, copper production. Shares rose 4% at Sable Mining after the com
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