Tanzania's Natural Gas Reserves Almost Triple on New Finds

Source: Bloomberg, David Malingha Doya (6/19/12)

"Oil majors have discovered more gas off Tanzania, about 28 miles north of the maritime border with Mozambique, where explorers have made the largest gas discoveries of the decade."

Bloomberg, David Malingha Doya

Tanzania's total estimated natural gas reserves almost tripled to as much as 28.7 trillion cubic feet with recent offshore discoveries including one by Statoil ASA (STL), Energy Minister Sospeter Muhongo said.

The energy ministry plans to submit a draft natural gas policy and propose legislative amendments in September, the minister said in an e-mailed statement yesterday. The ministry estimated total reserves at 10 trillion cubic feet in September.

"It is important to ensure that this pace of oil and gas exploration continues," Muhongo said.

Tanzania and Mozambique have discovered about 100 trillion cubic feet of gas, almost enough to meet global demand for a year, as the world's biggest explorers have poured into East Africa to search for hydrocarbons and finds have increased in Kenya and Uganda.

Recent finds off Tanzania's Indian Ocean coast brought recoverable offshore reserves to 21 trillion cubic feet, while onshore fields were estimated at 4.27 trillion cubic feet to 7.77 trillion cubic feet, the ministry said in the statement. . .View Full Article

Option Partner to Continue Operations at Energy Firm's Texas Oil & Gas Project
Source: Streetwise Reports (01/23/2021)

The efforts will meet Torchlight Energy Resources' development requirements at Hazel.

Target Price Raised on Energy Firm Making 'Transformative Acquisition'
Source: Streetwise Reports (01/06/2021)

The terms and benefits of Earthstone Energy's purchase of an oil and gas company, an "eye-catching act of deal making," are presented in a ROTH Capital Partners report.

Energy Firm to Combine with Materials, Nanocomposites Company
Source: Streetwise Reports (12/16/2020)

Torchlight Energy Resources sees the transaction providing its shareholders "access to the multibillion-dollar markets that Metamaterial serves."

Oil & Gas Producer Reports on Thailand Operations
Source: Streetwise Reports (12/02/2020)

Pan Orient Energy Corp. reports on continuing drill operations in Thailand.

Energy Company Boosts Thailand Oil Production, Offers 'Low Risk Production Growth'
Source: Streetwise Reports (11/19/2020)

The highlights of Pan Orient Energy's third quarter are presented in a Mackie Research Capital Corp. report.

Texas Oil & Gas Firm to Sell Its Stake in Delaware Basin Project
Source: Streetwise Reports (11/18/2020)

For its interest, Torchlight Energy Resources is to receive $350,000.

Oil & Gas Firm Reports Q3 Operational, Financial Results
Source: Streetwise Reports (11/16/2020)

Pan Orient Energy and its joint venture partner continue producing and selling oil from its L53 Concession in Thailand, which are funding ongoing exploration work there.

Texas Oil & Gas Explorer Completes Fracking of Midland Basin Well
Source: Streetwise Reports (11/11/2020)

The next step for Torchlight Energy's well at Hazel is flowback, which is to start next week.

Altus Midstream Shares Flow Higher on Q3 Earnings and Plans for $1.50/Share Dividend in Q1/21
Source: Streetwise Reports (11/05/2020)

Shares of Altus Midstream Co. traded 170% higher after the firm reported Q3/20 financial results and announced plans to pay a quarterly dividend of $1.50 per share beginning in March 2021.