All in Oil & Gas

Challenger Energy - Quarterly Activities Report June 2018

Challenger Energy (ASX:CEL) has provided the market with an update on its activities during the June quarter, as positive momentum in South Africa continues following recent elections and key cabinet changes. The country's minister of mineral resources has made statements of intent to fast-track the finalisation of the shale gas exploration rights applications, while there have been reports that the department has appealed the Eastern Cape High Court's decision to set aside the technical regulations.

Challenger Energy - Update on Progress in Sth Africa and Planned Capital Raising

Challenger Energy (ASX:CEL) has provided the market with an update on its activities in South Africa, as well as a planned capital raising. The company notes continued positive momentum in South Africa, following the election of Cyril Ramaphosa and key cabinet changes with progress on the MPRDA Amendment Bill. Challenger is also planning to undertake a 1:4 non-renounceable rights issue to raise about $973,000, with major shareholders to take up their entitlements.

Sino Gas & Energy - 2018 Guidance & Investor Presentation

Sino Gas & Energy Holdings (ASX:SEH) has released its guidance for 2018 as well as its strategic priorities. Sino Gas plans to secure overall development plan approvals for the Linxing and Sanjiaobei production sharing contracts, maximise production and revenue through existing and new facilities, and position itself for continued production growth post ODP approval in line with the development plan.

Whitebark Energy - Quarterly Activity Statement

Whitebark Energy (ASX:WBE) is pleased to report a robust second quarter with an average daily production of about 275boe/d from its Canadian JV in December, confirming its Xanadu oil discovery in the Perth Basin and $3 million cash injection to fund its active work program and acquisition strategy. Whitebark's H1 2018 work program is expected to increase gross production by about 900boe/d to between 1,800-2,000boe/d by June.

Sino Gas & Energy - Quarterly Activities Report - December 2017

Sino Gas & Energy Holdings (ASX:SEH) has released its December quarter results, highlighting a Q4 gross production exit rate of ~25MMscf/d and quarterly average of ~21MMscf/d. Sino Gas' full-year 2017 production rate of ~17MMscf/d was within guidance. The company submitted its Sanjiaobei ODP to its production sharing agreement partner PCCBM, with approval expected in the first half of 2018. Sino Gas expects its assets to deliver significant free cash flow from 2020.

Sino Gas & Energy - US$100M Debt Facility Finalised

Sino Gas & Energy Holdings (ASX:SEH) is pleased to announce that its five-year senior secured $US100 million debt facility with Macquarie Bank has been finalised, following completion of due diligence and satisfaction of all conditions precedent. Along with cash on hand and anticipated cash flow from operations,  the facility is expected to fully fund Sino Gas' share of the Linxing and Sanjiaobei development plan. $US10 million of the facility has been drawn to repay and cancel the previous debt facility.

Sino Gas & Energy - Sanjiaobei ODP submitted for approval

Sino Gas & Energy Holdings (ASX:SEH) is pleased to announce that the Sanjiaobei Overall Development Plan has been submitted to the Company's PSC partner PetroChina CBM for approval, representing an important regulatory milestone in the development of the Sanjiaobei PSC. The ODP was compiled in collaboration with PCCBM and accounts for ~60% of the current discovered area of Sanjiaobei. 

Sino Gas & Energy - Chinese gas demand in November +20% on prior year ahead

Sino Gas & Energy Holdings (ASX:SEH) has noted a report by RBC Capital Markets analyst Ben Wilson regarding increased demand for gas in China last month. Chinese natural gas consumption for November was 23.2bcm, up about 20 per cent on the prior period and running up 19 per cent YTD on 2016 figures. RBC has reaffirmed that Sino Gas stands out as its favoured pick among the junior E&Ps with its direct China gas consumption exposure as it ramps up production in the Ordos Basin.

Whitebark Energy - First Half 2018 Work Program Finalised

Whitebark Energy (ASX:WBE) has finalised its work program for the first-half of 2018. The Company has commenced work on its Thornbury reactivation project in Canada, which is expected to increase production by 1.7mmcf/d. A two-well drilling program has been confirmed for the first-half, along with nine well workovers in existing producing areas. Up to 20 wells are expected to be brought back on stream over a six-month period as pipelines are recommissioned.