Following the Company's announcement dated 12 January 2016 regarding changes to the Board, the Company advises that Mr Stephen Mitchell has been appointed as Chairman of the Board effective immediately. Mr Daniel Lanskey will remain as a Non-Executive Director.
Indago Energy Ltd
Indago Energy Ltd (ASX:INK) (OTCMKTS:POGLY) is an Australian listed company engaged in oil and gas exploration, development and production. Indago's project portfolio includes liquid rich producing assets together with substantial oil development and exploration acreage in the United States.
The Company's Exploration and Production focus is on high growth oil and gas projects offering scalability of production, cash flows and reserves. Indago currently has several producing projects together with a significant acreage position. The Company's immediate focus is the development of its Capitola Oil Project located in an active region of the Cline Shale resource play along the Eastern Shelf of the Permian Basin, Texas. The project's core development and exploitation opportunities are shallower multiple "stacked" sandstones and limestones to depths of 7,000 feet which are effectively produced from vertically drilled wells. Indago's value driven model is executed through exploiting shallower, well defined intervals with advanced completion and stimulation technology within known produced oil fields together with exposure to the emerging Cline Shale resource play.
Indago's shares are publicly traded on the Australian Securities Exchange (ASX ticker: INK) and also as American Depositary Receipts on the OTCQX (ADR ticker: POGLY).
In view of the weak oil market with limited prospect of a significant recovery in the short term, the Board of Pryme Energy Limited (ASX:PYM) has resolved to make a number of Board and management changes and to take other actions considered necessary to place the business in the best position for shareholder value creation.
Pryme Energy Limited (ASX:PYM) (OTCMKTS:POGLY) is pleased to provide an update on its Newkirk Project in Oklahoma. The project is located within the prolific Mississippi Lime play region along the Nemaha Ridge near Ponca City, Kay County.
Pryme Energy Limited (ASX:PYM) (OTCMKTS:POGLY) is pleased to provide an update on its projects and reserves through the enclosed investor presentation.
Pryme Energy Limited (ASX:PYM) (OTCMKTS:POGLY) is pleased to announce that during the June 2015 half year the Company more than doubled its oil and gas production, on a barrel of oil equivalent basis, over the previous half year and, importantly, increased oil production by 260%.
The principal activities of Pryme Energy Limited (ASX:PYM) (OTCMKTS:POGLY) during the period under review were evaluating, exploring and developing oil and gas prospects and producing oil and gas in the United States of America.
Pryme Energy Limited (ASX:PYM) (OTCMKTS:POGLY) is pleased to provide details of its Capitola Oil Project 1P and 2P certified Reserves effective July 1, 2015.
Oil production net to Pryme Energy Limited (ASX:PYM) for the June quarter of 2015 exceeded March quarter production by approximately 139%, similarly natural gas production was up 633% over the previous quarter.
Pryme Energy Limited (ASX:PYM) (OTCMKTS:POGLY) announce current daily production from the Capitola Oil Project is steady at approximately 135 Bbls of oil (100 barrels of oil net to Pryme) and 180 Mcf of natural gas (135 Mcf of natural gas net to Pryme). The Mahaffey Bishop and McCain wells continue to produce at levels around their initial production rates.
Pryme Energy Limited (ASX:PYM) (OTCMKTS:POGLY) is pleased to announce that it has purchased 2,230 net acres in an oil rich region of the Mississippian Lime in Oklahoma. In conjunction with the acquisition Pryme will enter a 50/50 joint venture with Empire Energy Limited (ASX:EEG) with the objective of growing and developing its footprint within the Mississippian Lime (Newkirk JV).