- Premier Oil's [LON:PMO] shares were up in late trading after shareholders approved the proposed acquisition of the whole of E.ON's UK North Sea assets at a general meeting today.

* * *

Antrim Energy [LON:AEY] reports net income of $1.8m for the year to the end of December against a loss of $10.1m last time.

The 2014 result included losses from discontinued operations of $3.6m.

Antrim had a working capital surplus at December 31, 2015 of $9.6 million compared to a working capital surplus of $15.1 million as at December 31, 2014. Working capital decreased due to $2.3 million in general and administrative expenses and $3.0 million net to Antrim in actual decommissioning costs incurred in the year.


- Strong cash position, no debt, substantially lower G&A costs and limited financial commitments moving forward

- Obtain 100% interest in the highly prospective Skellig Block, Ireland (subject to finalization and government approval)

- Successful completion of four well abandonment program in United Kingdom Central North Sea

- Realisation of significant abandonment cost reductions ($1.9 million) and collection of amounts due from partners

- Continue to evaluate M&A opportunities

* * *

PetroNeft [LON:PTR] and Natlata Partners Ltd have reached agreement on a new Board composition and structure.

Accordingly, Natlata, which is PetroNeft's largest shareholder, has agreed to withdraw all of its resolutions due to be considered at the reconvened EGM due to take place at 11 am today.

The Board has appointed Maxim Korobov as non-executive Director and Anthony Sacca and David Sturt as independent non-executive Directors.

David Sanders, Gerry Fagan and Paul Dowling have left the Board. Mr. Dowling will remain as CFO of the Company.

The newly constituted Board shall be made up as follows:

� G. David Golder - Chairman

� Dennis C. Francis - CEO

� Thomas Hickey - independent non-executive Director

� Maxim Korobov - non-executive Director

� Anthony Sacca - independent non-executive Director

� David Sturt - independent non-executive Director

* * *

Sterling Energy [LON:SEY] said Q1 production, net to the company (including Royalty barrels) from the Chinguetti field, averaged 106 barrels of oil per day (bopd), from 382 bopd in the year-ago same period.

The company's Adjusted Earnings before Interest, Tax, Depreciation and Amortisation and Exploration Expense (EBITDAX) loss was USD2m, from a year-ago loss of USD878,000.

Sterling's after-tax loss was USD5.0m, from a loss of USD815,000, due in part to the full impairment of PSC C-3 (USD3.5m).

At March 31 it had cash of USD95.2m, including Joint Venture (JV) partner funds of USD419,000. Debt was nil.

* * *

Independent Resources [LON:IRG] has announced that all resolutions proposed were duly passed at its General Meeting held today.

Specifically, these related to:

- the Share Capital Reorganisation, whereby each existing share of 0.1p nominal value was to be sub-divided into one New Ordinary Shares of 0.01p nominal value and a 2016 Deferred Share of 0.09p nominal value; and

- authority to be given to the Directors to issue up to 5,000,000,000 New Ordinary Shares pursuant to section 550 of Companies Act 2006 and to dis-apply statutory pre-emption rights in relation to the issue of up 5,000,000 New Ordinary Shares.

* * *

Aminex [LON:AEX]posts a pre-tax loss of $3.8m for the year to the end of December - down from $5.9m last time.

Revenues fell to $350,000 from $444,000. Administrative expenses fell to $1.6m from $2.8m.

During the year Aminex negotiated a long-awaited gas sales agreement for the Kiliwani North field and completed a partial disposal of its interest in the field which enabled it to retire a portion of its corporate debt.

It also converted an Egyptian carried working interest into a royalty arrangement.

The transaction for the Egyptian asset has transformed a potential work obligation into a potential future revenue stream.

As the board has previously stated that it does not intend to commit further funds to its Moldova asset in the near term, Aminex's activities are now exclusively concentrated on its Tanzanian gas projects, all of which it operates.

The company says that consequently it is not directly affected by the current slump in world oil prices as it will be producing gas at a pre-agreed price for power generation.

* * *

Frontera Resources Corporation [LON:FRR] says operational work at the South Kakheti gas complex in Georgia continues to reveal a new and significant gas province.

Frontera says operations and advancing technical studies within the western and central areas of the complex have continued throughout the first quarter of this year where significant natural gas resources have been identified in targeted reservoirs situated between 300 metres and 5,000 metres in depth. In the western area of the Complex, operations at the Udabno#2 well are now continuing in May where high bottom hole pressures and resulting high shut-in surface pressures remain at a depth of approximately 3,300 meters. Frontera plans to undertake a testing program designed to evaluate an extensive gas-bearing interval of approximately 2,000 meters in gross thickness where internal reservoir engineering models estimate production capability in the range of 10 million - 20 million cubic feet per day of gas.

In the central portion of the complex's gas-window related work, integrated analysis of the company's existing 3D seismic survey and extensive petrophysical database has resulted in the design of a new 37 well drilling plan to exploit approximately 1 trillion cubic feet of gas. The new program is currently planned to commence in 2017.

This recoverable volume is related to Netherland, Sewell & Associate's 2015 independent assessment of as much as 4.6 trillion cubic feet of gas-in-place, with as much as 3.2 trillion cubic feet of recoverable prospective natural gas resources related to this area of the Complex. As previously reported, Frontera's ongoing work has assessed the gas resources associated with its exploration and production efforts at the South Kakheti Gas Complex to contain as much as 187 trillion cubic feet of gas in place from reservoir targets found between 300 metres and 5,000 metres in depth.

In 2015, Frontera announced results of reports related to sub-areas of the Complex that it commissioned by the U.S.-based consulting firm of Netherland, Sewell & Associates in order to provide independent assessment of the Company's estimates. Independent assessment work continues on the balance of the Company's estimates.

Chairman and chief executive Steve C. Nicandros said: "Our technical work at the South Kakheti Gas Complex continues to reveal a new and significant gas province within a broader regional fairway that is already the basis for the Southern Corridor's extensive gas infrastructure network to Turkey and Europe.

"Strategically situated along this important gas export route, Frontera's ongoing operations hold the potential for not only assuring Georgia its own domestic energy independence, but for also making it an important player in Europe's future energy security."

At 3:38pm:

[LON:AEY] Antrim Energy share price was +0.03p at 1.48p

[LON:AUR] Aurum Mining PLC share price was 0p at 0.95p

[LON:BOR] Borders Southern Petroleum PLC share price was -0.01p at 2.12p

[LON:CHAR] Chariot Oil Gas Ltd share price was -0.47p at 9.78p

[LON:ENQ] EnQuest Plc share price was +0.13p at 35.63p

[LON:GKP] Gulf Keystone Petroleum share price was -0.25p at 5p

[LON:GPX] Gulfsands Petroleum PLC share price was -0.63p at 6.75p

[LON:INDI] Indus Gas Ltd share price was -2.37p at 165.13p

[LON:IRG] Independent Resources PLC share price was 0p at 0.09p

[LON:PET] Petrel Resources PLC share price was 0p at 3.38p

[LON:PMO] Premier Oil PLC share price was +2.88p at 72.63p

[LON:PTR] Petroneft Resources PLC share price was +0.03p at 2.15p

[LON:RKH] Rockhopper Exploration PLC share price was +2.63p at 34.13p

[LON:RPT] Regal Petroleum PLC share price was 0p at 2.45p

[LON:SEY] Sterling Energy PLC share price was 0p at 16.5p

[LON:XEL] Xcite Energy Ltd share price was +0.13p at 16p

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