(Correcting that the Exxon Mobil portfolio acquisition was completed by Savannah Energy PLC.)
The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Savannah Energy PLC - Africa-focused energy company - Completes its $407 million acquisition of US oil major Exxon Mobil Corp’s entire upstream and midstream asset portfolio in Chad and Cameroon. The acquisition includes the operatorship of the upstream assets through the acquisition of the former operator, Esso Exploration & Production Chad Inc. Following completion, Savannah will own a 40% interest in the Doba oil project and a 40% indirect interest in the Chad-Cameroon export transportation system.
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Amaroq Minerals Ltd - Greenland-focused mine development company - Reports market-making arrangements with Arion Banki HF and Landsbankinn HF to provide market-making services in respect of the firm’s Icelandic depositary receipts listed on the Nasdaq First North Growth Market in Iceland.
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SLF Realisation Fund Ltd - realising all remaining assets in portfolio of ordinary share class and 2016 C share class - Director Brett Miller buys 2 million shares in the firm for a total of £130,990 on Friday.
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Enwell Energy PLC - London-based oil and gas exploration company - Says regulatory action within Ukraine is affecting a major indirect shareholder of the firm, Vadym Novynskyi. Says that it is investigating the situation and consulting with its adviser. Adds that the company’s legal analysis is that the restrictive measures imposed are directed at name individuals and not any other legal entities, and are applicable solely within Ukraine. As a result, firm says the restrictive measures are not director at the company. Says it will continue to monitor the situation.
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Vaalco Energy Inc - Houston, Texas-based hydrocarbon explorer - Says the North Tchibala 2H-ST well in Gabon was brought online in early November and flowed at a ‘low, controlled rate’ to allow for clean-up. Says that through early December, the well has flowed with temporary interruptions for operations activity and shut-ins. Produces about 8,000 gross barrels or oil, or 275 gross barrels of oil per day. Adds that post-fac modelling suggests the well is capable of producing rates at or above 1,500 gross barrels of oil per day. In Egypt, firm expects to spud its first horizontal well on December 12. In Canada tie in of the 4-10 well is expected in late December, with an anticipated flow rate of 200 barrels of oil equivalent per day before year-end. Also completes construction on the 14-25-29-04W5 surface lease, with drilling expected to start in January.
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