Mediterranean Oil & Gas (LON:MOG) announced this morning that it has been asked to complete an 'Autorizzazione Integrata Ambientale' (AIA), an integrated environmental authorisation, for the Ombrina Mare project. The AIA would act as a precursor to the ministry considering the approval of the Environmental Impact Assessment (EIA). The AIM listed company says this new request goes against prior instructions which told the company the EIA could be completed without the need for an AIA at this time.
Mediterranean Oil & Gas are currently trading at 6.48 pence a share, down 12.14% on opening.
Rialto Energy (LON:RIA) announced this morning that in the period since 1400 hours (AWST) on 9 July 2013, wireline logging operations were completed at the Starfish-1 oil exploration well.
Rob Shepherd, Managing Director of Rialto said: "Whilst the preliminary results from the Starfish-1 well are disappointing, it is too early to draw any definitive conclusions from what was essentially the first well in a block covering a gross area of 2,000 km2. As we have highlighted prior to and when the well spudded, it was designed as a play-opener with a 20% chance of success, and we also note Ophir Energy, the Operator, commented in their release on 10 July 2013 that their primary reason for farming-in to this acreage was the play potential outboard of the Starfish prospect. The results of this well will provide valuable geological information as the partners now look to analyse the further prospectivity of the licence area.
Additionally, as we noted in our announcement on 18 June 2013, we had made an initial drawdown on the facility provided by Vitol s.a. to meet our share of the June cash call and a drawdown to meet the subsequent cash call meant that our financial exposure to the Starfish well was minimized."
Rialto Energy are currently trading at 1.03 pence a share, down 6.09% on opening.
This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More
Related Companies
hanley ramirez Christian Bale visits victims Christian Bale Sherman Hemsley Olympics Opening Ceremony Katherine Jackson Olympics Opening Ceremony Time
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.