StockMarketWire.com - Ruspetro (RPO) has announced that for the six months to 30 June 2015 average daily production of oil increased by 16% to 3,914 bopd (H1 2014: 3,366 bopd).

However, revenues fell to $24m (H1 2014: $27.8m). The drop was driven by a 46% decline in the average realised blended oil price, offset by a 30% increase in sales volumes.

The Group recorded a loss of $19m, compared with a loss of $39.8m for the first half of last year.

It said it had achieved major reductions in well costs while drilling longer horizontal reservoir sections.

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Lamprell (LAM) chief executive James Moffat has decided to retire with effect from 30 June 2016.

Lamprell says a search to find his successor is under way and an announcement will be made in due course.

Until June 2016, Moffat will continue in his role as a director and CEO allowing a smooth handover of his responsibilities. After his retirement, he has agreed to work with the company on an exclusive consultancy basis providing advice and assistance to the Group for a period of up to one year. John Kennedy will take on the role of executive chairman for the group until the next annual general meeting of the company in 2016 as the company refreshes its strategy in light of the current market environment. This will also facilitate the transition process from Moffat to the incoming CEO, when appointed.

Tony Wright has been promoted to the role of chief financial officer and has been appointed as an executive director of the board with immediate effect. Wright has been in the role of deputy CFO since October 2014, having joined the group in 2013 and worked on its refinancing. Lamprell is also pleased to announce the appointments of Mel Fitzgerald and Debra Valentine as non-executive directors. Fitzgerald will join the Board with immediate effect and Valentine will join the board with effect from 1 September.

Michael Press has decided to resign as a non-executive director for personal reasons and the board has agreed to his departure with immediate effect. Press will be replaced in the role of senior independent director by Ellis Armstrong. The board will revise the composition of the principal committees shortly.

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A company of the Rosneft Group (ROSN) and a subsidiary of Trican Well Service Ltd. has signed a framework agreement and ancillary documents, pursuant to which a Rosneft subsidiary agreed to acquire a 100% shareholding in Trican Well Service LLC, which provides high-quality pressure pumping services focused on enhancement of production within the conventional oil and gas industry in Russia.

The purchaser has already obtained the necessary approval of the Federal Antimonopoly Service of the Russian Federation. The parties plan to close the transaction on August 20, 2015.

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At 3:56pm:

[LON:AUR] Aurum Mining PLC share price was +0.01p at 1.13p

[LON:BOR] Borders Southern Petroleum PLC share price was -0.09p at 3.08p

[LON:CHAR] Chariot Oil Gas Ltd share price was +0.06p at 8.14p

[LON:DGO] Dragon Oil PLC share price was +0.25p at 799.25p

[LON:ENQ] EnQuest Plc share price was -0.37p at 33.13p

[LON:FOGL] Falkland Oil Gas Ltd share price was -0.12p at 24.13p

[LON:GKP] Gulf Keystone Petroleum share price was -0.25p at 28.25p

[LON:GPX] Gulfsands Petroleum PLC share price was +0.01p at 4.88p

[LON:INDI] Indus Gas Ltd share price was 0p at 112.5p

[LON:LAM] Lamprell PLC share price was -3.62p at 129.63p

[LON:PET] Petrel Resources PLC share price was -0.12p at 2.13p

[LON:RKH] Rockhopper Exploration PLC share price was +1.63p at 51.63p

[LON:RPO] RusPetro share price was 0p at 9.5p

[LON:RPT] Regal Petroleum PLC share price was -0.25p at 4.28p

[LON:XEL] Xcite Energy Ltd share price was +0.75p at 31.75p



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