Resources round-up: Anglesey Mining, Chariot, Empyrean...

Empyrean Energy said the average daily equivalent oil rate at the Tipton Jonas well over the past 30 days was 595 barrels of oil equivalent per day (boe/d), with a total condensate production of 15,101 barrels and total gas production of 16.5m square cubic feet (scf). At the Brysch Jonas B well it was 854 boe/d, 23,590 barrels and 12.2m scf, while at the Brysch Jonas C well is was 686 boe/d, 17,102 barrels and 20.8m scf. At the Children Weston well it was 1,141 boe/d, 21,197 barrels and 78.2m scf.

Anglesey Mining has reached an agreement with Intermine to discharge all amounts due to it cancelling out the net profits royalty agreement held by Intermine relating to the Parys Mountain copper-lead-zinc property in North Wales. Intermine will receive £0.63m in cash and two million ordinary shares in Anglesey, worth a total of £0.76m. Following this, Intermine's only involvement in Anglesey will be as a shareholder.

Chariot Oil & Gas has begun drilling operation on the Nimrod prospect, the second well in its drilling programme offshore Namibia. The drilling operations are expected to take around 60 days to complete. The prospect is located in the southern block where the company has a 25% interest.

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Ascent Resources, an oil and gas producer, has secured a one year loan facility of £2.3m and has extended its existing Standby Equity Distribution Agreement with YA Global Master to December 31st 2015, for £10m, which can be drawn in exchange for the issue of new shares in the company. The loan facility will be drawn to contribute to group working capital requirements and carries an interest rate of 9.0% per cent per annum.

Red Emperor Resources has said the Shabeel North well in Puntland, Somalia, continued drilling through the entire Jesomma reservoir section and has reached a depth of 2,200 meters. The section contained several additional sands with oil and gas shows. The firm will now drill deeper to 3,400m, which is expected to take a further 15-20 days. "While we are obviously disappointed that the Jesomma sands tested wet, the overall results of the two wells drilled during this campaign are quite encouraging in the long term prospects for oil potential of the basin," the group said.

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