StockMarketWire.com - Gulf Keystone Petroleum [LON:GKP] says signatories to the restructuring agreement now represent approximately 82% of the aggregate principal amount of the guaranteed notes and approximately 82% of the aggregate principal amount of the convertible bonds.

The signatories have agreed to:

- forbear from taking any action to enforce the terms of the guaranteed notes and/or the convertible bonds, as applicable,

- support and take reasonable and necessary actions (that are consistent with the restructuring agreement and the restructuring) as they may have under or in respect of the guaranteed notes and/or the convertible bonds, as applicable, in furtherance of implementation and consummation of the restructuring

- vote in favour of the scheme at the relevant creditor meeting(s)

The deadline for convertible bondholders to accede to the restructuring agreement in order to be eligible to participate in an alternative restructuring was close of business on 1 August.

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Ithaca Energy [LON:IAE] has expanded its core position in the Greater Stella Area with four agreements entered into for the acquisition of additional interests in the 'Vorlich' discovery and an operated interest in the 'Austen' discovery. Highlights

- Interest in the Vorlich discovery increased from approximately 17% to 33% - additional licence interests acquired from ENGIE E&P, INEOS and Maersk

- Approximately 4 MMboe1 of net proven and probable reserves added to the portfolio from the additional Vorlich licence interests

- Acquisition from ENGIE E&P of a 75% interest and operatorship of the Austen discovery, which lies approximately 30 kilometres from the GSA production hub

- Total acquisition costs including potential future contingent payments of under $6 million

Chief executive Les Thomas said: "We are very pleased to announce this group of low cost acquisitions that further expand our core Greater Stella Area portfolio. This is in line with our "hub and spoke" strategy for maximising the value of the central infrastructure that has been put in place for the start-up of production from the Stella field."

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Europa Oil & Gas [LON:EOG] has received notification from the Department of Communications, Climate Action and Environment (DCCAE) that Phase 1 of Frontier Exploration Licences (FEL) 2/13 and 3/13 in the South Porcupine Basin has been extended by one year to 4 July 2017.

This will allow Europa to mature existing prospects and perform detailed mapping of all potential prospective levels on both licences, including the Pre-Rift, Syn-Rift and Tertiary plays, whilst it continues to seek a farm out partner for drilling.

Based on 2,500sq km of proprietary 3D seismic data, which was acquired in 2013, Europa has mapped gross mean un-risked Prospective Resources of approximately 1.5 billion barrels of oil equivalent (boe) in FEL 3/13 in three early Cretaceous submarine fan prospects and 595 million boe in FEL 2/13 in early Cretaceous turbidite channel prospects.

Charged by mature Late Jurassic and Early Cretaceous source rocks and contained in stratigraphic traps with elements of structural closure, these reservoirs are analogous to the Cretaceous play in the equatorial Atlantic Margin province which has delivered the Jubilee and Mahogany oil fields.

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Pantheon Resources [LON:PANR], the AIM-quoted oil and gas exploration and production company with a 50% working interest in several projects in Tyler and Polk Counties, East Texas, has changed its registered office to 6th Floor, 60 Gracechurch Street, London EC3V 0HR with immediate effect.

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The sector's biggest riser was Oilex [LON:OEX] - up by more than 27.7% in late trading - while the biggest faller was Nighthawk Energy [LON:HAWK] - down by more than 8.7%.






At 4:16pm:

[LON:AUR] Aurum Mining PLC share price was 0p at 1p

[LON:BOR] Borders Southern Petroleum PLC share price was -0.04p at 1.76p

[LON:CHAR] Chariot Oil Gas Ltd share price was 0p at 5.9p

[LON:ENQ] EnQuest Plc share price was -0.37p at 23.13p

[LON:EOG] Europa Oil Gas Holdings PLC share price was -0.13p at 5.13p

[LON:GKP] Gulf Keystone Petroleum share price was +0.03p at 4.17p

[LON:GPX] Gulfsands Petroleum PLC share price was +0.01p at 3.13p

[LON:IAE] Ithaca Energy Inc share price was -0.75p at 55.75p

[LON:INDI] Indus Gas Ltd share price was +40.13p at 312.63p

[LON:OEX] Oilex Ltd share price was +0.13p at 0.58p

[LON:PANR] Pantheon Resources PLC share price was -3.87p at 176.13p

[LON:PET] Petrel Resources PLC share price was -0.13p at 6.88p

[LON:RKH] Rockhopper Exploration PLC share price was -0.87p at 27.63p

[LON:RPT] Regal Petroleum PLC share price was 0p at 3.25p

[LON:XEL] Xcite Energy Ltd share price was +0.28p at 5.35p



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