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Falcon Oil & Gas Ltd (AIM:FOG, TSX-V:FO) shares dropped by nearly a third in Thursday’s early deals after a new production test update informed investors that the Amungee NW-2H well, drilled in December and fracked in March, has yet to establish an "uninhibited production rate". The company, in a technical update via RNS , said that independent analysis has found “a potential skin” that’s inhibiting the flow of gas from the stimulated shale – nevertheless, the well has been flowing gas, at a rate of around 0.83mln cubic feet per day plus 50 barrels per day of water. 22 Jun 2023 Longboat Energy PLC (AIM:LBE) shares jumped almost 7% higher after the oil and gas company confirmed approval has been granted for its joint-venture deal with Japan Petroleum Exploration Co. Norway’s petroleum and energy ministry has now approved the joint-venture plan, Longboat said in a statement , meaning the deal will likely be completed in the first half of July. 22 Jun 2023 Quadrise PLC (AIM:QED) told investors that its paused project in Morocco has now received necessary parts and spares, and it looks forward to resuming the fuel trial “at the next available opportunity". It comes after the […]
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