These are difficult times for the oil industry but ADM Energy is working on expansion at its Aje field, offshore Nigeria. At the same time, the company is also on the hunt for new opportunities, backed by an agreement with Trafigura.
ADM Energy has set out plans to secure deals in Nigeria and Africa, matching under-developed assets with new sources of financing, including oil traders.
MX Oil is considering changing its focus from the drilling of additional wells to gas production at the Aje Field in Nigeria.
MX Oil has cashed in on its Aje Field.
MX Oil was today celebrating the production upstart of its Aje Field in Nigeria.
MX Oil said it was pursuing an investment strategy to beat the industry downturn. The firm is focussing on Nigeria and Mexico as areas to plough its cash into. In the past year, it has managed to raise £11million.
MX Oil said it has issued notices for the early redemption of the outstanding balance of secured convertible loan notes issued last year and in February.
MX Oil has raised £3.4million in a share placing of 341.2 million shares at a price of 1 pence each, ensuring it has enough cash to retain its investment in its Nigerian operation.
MX Oil has suffered a setback after it revealed its flagship assets in Mexico are not worth progressing.
MX Oil said it has allowed GEC Petroleum Development Company (GPDC) additional time to put financing in place as it looks to acquire investment in the Aje field, offshore Nigeria.
MX Oil today confirmed it has successfully raised £2.5million by placing 333,333,333 ordinary shares at a price of 0.75 pence per share.
MX Oilhas agreed terms on the sale of its investment in the Aje field offshore Nigeria to GEC Petroleum Development.
MX Oil has signed terms with an international oil and gas group to buy its Nigerian assets in the proven offshore Aje field.
MX Oil is considering an offer for Nigerian investment, it confirmed today.
While more than 180,000 onshore wells are producing oil in Texas, only 8,250 have been drilled by Petroleos Mexicanos across the border in Mexico. Welcome to the land of opportunity.
Northcote Energy said it continues to review the terms of awards for potential Mexican opportunities with MX Oil.
MX Oil chief executive Stefan Olivier said the firm was moving in on the commissioning stage of its four land contract areas (LCA) in Mexico.
MX Oil won four of the five onshore concessions it bid for in Mexico's first onshore licensing round since re-opening its energy frontier to the global market.
Northcote Energy has withdrawn from the pre-qualification process for Mexico’s next licensing round.
MX Oil said successful peforation of the reservoior on its Aje 5 well offshore Nigeria took it closer to its goal of becoming a multi-asset investment company.
MX Oil threw its bidding hat into Mexico’s onshore licensing round.
UK oil and gas investment company MX Oil is looking ahead to a "game changing" end of year with progress made in Mexico and imminent production expected from its Nigerian assets.
US-oil firm Northcote Energy has confirmed that it is participating in Round 1 of Phase Three of Mexico’s onshore oil and gas licensing.
Hydrocarbon investment company MX Oil has said it is closer to securing additional assets in Mexico.
MX Oil is one step closer to securing first oil from its Nigerian prospect.