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All in Oil & Gas
Challenger Energy (ASX: CEL) says it continues to pursue its application for shale gas exploration rights in South Africa. In its December quarter report, the company reaffirmed there appears to be new-found political momentum in SA, with an important decision made to abandon the long-delayed MPRDA amendment bill and fast-track a new piece of legislation specific to the petroleum industry.
Challenger Energy (ASX:CEL) has provided an update on its activities for the three months to September, as it continues to pursue its application for shale gas exploration rights in South Africa. Challenger is encouraged by recent developments in this regard by the election of Cyril Ramaphosa as President in February 2018 and a number of key changes in cabinet announced shortly thereafter.
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 (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 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 (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 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.
Challenger Energy (ASX:CEL) has released its results for the December quarter, as the company continues to assess a significant number of potential projects and pursue a number of opportunities.
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 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.
