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Australia: Carnarvon Petroleum secures rig for high impact Pavo & Apus drilling


Australia: Carnarvon Petroleum secures rig for high impact Pavo & Apus drilling
03 Mar 2021
Positive drilling results are capable of materially increasing Carnarvon’s resources in the region
Pavo-1 well will target 101 mmboe (Pmean,Gross) in a location near the Dorado field
Apus-1 well will target 307 mmboe (Pmean,Gross) also in a location near the Dorado field
Pavo-1 and Apus-1 are expected to be drilled sequentially commencing in late 2021
Both exploration targets have the potential to be tied back to Dorado enhancing project economics
Carnarvon Petroleum has confirmed that the Noble Tom Prosser jack-up drilling rig has been contracted to drill the ....

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US: Nostra Terra provides Pine Mills update


US: Nostra Terra provides Pine Mills update
03 Mar 2021
AIM-listed
Nostra Terra, the oil & gas exploration and production company with a portfolio of development and production assets in Texas, USA, has provided an operations update for its
Pine Mills asset in East Texas.
Highlights
Potential additional locations and reserves identified
2nd Cypress well planned in 2021
Remaining acreage owned 100% by NTOG being assessed for further potential farmouts
Background
Nostra Terra currently owns and operates a 100% working interest ( WI ) in the Pine Mills asset which covers 2,400 acres. On 22 April 2020 Nostra Terra announced that it had signed a farmout agreement with
Cypress Minerals on an undrilled 80 acre area of the 2,400 acres, where Cypress would drill and complete one well at its sole expense to earn a 75% WI. Nostra Terra would retain a 25% WI in the Farmout Area where the drilling and completion in the first well cost would be pai ....

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Australia: Armour Energy announces proposed demerger of Northern Basin Oil & Gas Business


Australia: Armour Energy announces proposed demerger of Northern Basin Oil & Gas Business
03 Mar 2021
HIGHLIGHTS:
Unlocking unrecognized value for shareholders through proposed demerger and separate ASX listing of Armour’s Northern Basin Oil & Gas Business.
McArthur Oil & Gas Ltd – a new company – is proposed to be created to hold the Northern Basin Oil & Gas Business and demerg ed from Armour through an in-specie share distribution to existing shareholders.
IPO and capital raise of $60-$65 million for McArthur Oil & Gas proposed to fund acquisition of Northern Basin Oil & Gas assets from Armour and to fund forward exploration.
Proposed total consideration of $40 million cash plus a minimum of 33.3% retained interest by Armour shareholders in McArthur Oil & Gas. The consideration received by Armour will be used to retire its outstanding debt. ....

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Iran To Join LNG Race In Asia With Huge North Pars Development


Premium Content
Iran To Join LNG Race In Asia With Huge North Pars Development
By Simon Watkins - Mar 02, 2021, 6:00 PM CST
With Asian spot liquefied natural gas (LNG) prices having risen to unprecedented levels in January and the outlook remaining extremely robust Iran believes now is the time to move full ahead with its long-term strategy to become a leading global LNG supplier. A key focus for this will be the North Pars non-associated natural gas field that was the largest gas reservoir in Iran before the discovery of supergiant South Pars field in 1990. Propitiously for the speed of development of North Pars, not only are the spot prices of LNG set to remain at the historical high-end but also Iran has virtually completed all phases of its South Pars development. ....

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