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E & P News


Jan 2017: LGO Energy subsidiary CPS (100%) provided an update on the Ayoluengo oil field in the La Lora Concession due to expire end Jan 2017. It has operated the field since 2007, maintaining production at 115 bbls of oil per day. An extension has been applied for including up to 10 new sidetracks. It may have to suspend production whilst waiting for a decision.


Jun 2014: Cairn has withdrawn from 4 exploration permits in the Gulf of Valencia (Benifaió, Gandia, Altamar 1 and Altamar 2). The company has held the licences since 2011. It continues to pursue applications for acreage offshore the Gulf of Lion and the Bay of Biscay.


Mar 2014: Cairn has relinquished one of its licences in the Mediterranean Sea off Valencia. The company released the Abufera permit, signed for in 2010 but retained 4 other licences in deeper waters.


Apr 2013: San Leon Energy's wholly owned subsidiary, Frontera Energy, has been awarded two new exploration licences, Aquiles and Cronos. The Aquiles Licence is located in the Zaragoza and Navarro regions within the Zaragoza Basin. The Cronos Licence is situated in the Soria and Guadalajara regions within the Almazan Basin. Both Licences contain unconventional Paleozoic resource potential. The Licences have been granted for a period of six years. These follow the grant of the Geminis and Libra licences in the Cantabrian Basin.

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