Oil Man Jim Company Oil & Gas Podcast & Mid-Week Blog, 4th March 2020
March 4, 2020
88 Energy (88E) announced that Charlie-1 appraisal well drilling has commenced. To quote, they are "optimistic that success is just around the corner." This is a credible drill since Premier Oil (PMO) has farmed in, and a big one targeting 1.6 billion barrels of oil and 480 million barrels net to 88E.
SDX Energy (SDX) announced that their play-opening BMK-1 well in Morocco encountered commercial quantities of gas in both target horizons. The rig now moves to drill the potentially play-opening LMS-2 well. Predator Oil & Gas (PRD) also announced the approval of the environmental impact assessment for their upcoming Morocco well.
Solo Oil (SOLO) announced a transaction update and restoration of trading.
Nostra Terra Oil & Gas (NTOG) and Zenith Energy (ZEN) issued news. The NTOG board room drama has been brought to a close with Andy Morrison becoming Chairman and Ewen Ainsworth stepping down. On a brighter note, Tower Resources (TRP) announced a Cameroon farm-out update. Half the well costs are now covered and other half is under discussion, with the company confident.