Resources round-up: Falkland Oil and Gas, Bowleven, Solgold
Falkland Oil and Gas said it had discovered gas at its Loligo exploration, but was unable to determine whether the gas had any liquid content. The firm said it would plug and abandon the well in the the East Falkland basin. It added that it would be premature to drill a second well at the current location before having undertaken detailed analysis of the current well results.
Falkland Oil and Gas said it had discovered gas at its Loligo exploration, but was unable to determine whether the gas had any liquid content. The firm said it would plug and abandon the well in the the East Falkland basin. It added that it would be premature to drill a second well at the current location before having undertaken detailed analysis of the current well results.
Edinburgh-based Bowleven said it had bought a 50% equity interest in onshore exploration block 11B, Northwest Kenya, from Adamantine Energy. In return for acquiring this interest Bowleven will fund the work programme for the initial two year exploration period at an estimated cost of $10m.
Solgold leapt 14% on Monday morning after it announced the discovery of a substantial porphyry gold-copper system at its Cascabel project in Ecuador. "We are now systematically advancing the project to define drill targets," the firm said. "Drilling is subject to permitting and we are progressing the work required for the issuance of those permits."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
MM
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published