Panoro Energy has successfully raised US$ 70 million in gross proceeds through a Private Placement. The net proceeds from the Private Placement will be used to partially finance the acquisitions in Equatorial Guinea and Gabon announced on 9 February 2021, and related fees and expenses as well as for general corporate purposes.
Oman: Tethys Oil announces fourth quarter and year-end report
10 Feb 2021
Tethys Oil s Oman assets (Source: Tethys Oil)
Fourth quarter 2020 (third quarter 2020)
Production from Blocks 3&4, Oman, at 11,072 barrels per day (10,651 barrels per day)
Revenue and other income of MUSD 22.3 (MUSD 20.4)
EBITDA of MUSD 10.2 (MUSD 9.5)
Earnings per share amounted to USD -0.09 (USD -0.06)
Free cash flow MUSD 9.0 (MUSD -11.7)
Blocks 3&4: Exploration well Anan-1 successfully drilled with good oil flow rates
Block 49: Exploration well Thameen-1 spudded
Block 49: Tethys Oil in farm out to EOG Resources of 50%, subject to government approval
Block 56: Tethys Oil has entered into an agreement to acquire a further 45 percent interest, and assume operatorship of Block 56 in the Sultanate of Oman, subject to government approval
Ascent Resources has provided a further update on the PG-11A well at the Petisovci tight gas field, in Slovenia, which was put back into production on 4 February.
Congo (Brazzaville): Zenith Energy announces successful completion of IPU in Congo
10 Feb 2021
Zenith Energy, the listed international oil & gas production company focused on pursuing African development opportunities, has announced that it has now received formal confirmation regarding the successful completion of the Inquiry of Public Utility (Enquête d Utilité Publique) ( IPU ), following an in-depth technical and financial review, performed by the Ministry of Hydrocarbons of the Republic of the Congo during the month of January 2021.
Source: Zenith Energy
As announced on December 23, 2020, the Company will now proceed with the potential finalisation and ratification of the Production Sharing Contract ( PSC ) for