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.
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
-
‘Inheritance tax insurance’ enquiries are soaring – but is it worth it?Premiums for whole of life insurance can run to £5,000 a month to cover a £300,000 inheritance tax bill, with policies costing more the older you take them out.
-
MPs warn over Lifetime ISAs which could leave savers out of pocketThe Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”
