Resource round-up: Lochard Energy, Magnolia Petroleum, Leni Oil & Gas
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 pulled in during the year to the end of June.
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 pulled in during the year to the end of June.
Magnolia Petroleum, a US onshore-focused oil and gas exploration and production company, said it continued to make progress towards its target of 100 producing wells by the year end, with a corresponding increase in revenues. "The company continues to receive new drilling opportunities and we believe that, as these locations are progressively drilled, we remain on course to build a significant oil and gas company," it said in a trading update.
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