Irish oil exploration group Petrel Resources took flight after saying detailed modelling of Quad 35, part of its 11/4 licensing option in the Irish Atlantic Margin, indicated a potential payload of one billion barrels. As an added bonus, the targets are accessible with one well.
The Nostra Terra Oil and Gas Company enjoyed a less eye-catching gain than Petrel after it revealed the first horizontal well at the Chisholm Trail Prospect in Oklahoma has been completed and is undergoing production testing. The oil and gas producer has just a 0.47% working interest in the well. Additional wells at Chisholm Trail are in the process of being planned and permitted, and a leasing programme focused in the area is also ongoing. Once elections are received and made on the following wells, the company will make relevant announcements.
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RICS: homebuyers are returning after stamp duty shockThe housing market has been subdued since stamp duty thresholds dropped in April, but there are signs of a recovery
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Reducing cash ISA limit will make lending difficult and expensive, warn providersAn open letter from the Building Societies Association has urged the chancellor to keep the cash ISA limit at £20,000. We look at whether a smaller cash ISA allowance will make it harder to get a mortgage or loan
