Oilex (LON:OEX) was the sector's biggest riser in late trading after it executed an agreement with its JV partner, Gujarat State Petroleum Corporation Ltd (GSPC), in the Cambay Field Production Sharing Contract (PSC) on the next planned vertical well in the Cambay Field (Well C-78).
The signing of the agreement is a key milestone towards the proposed drilling of Well C-78, unlocking value and possibly securing an extension to the Cambay Field PSC term.
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Hydrodec (LON:HYR) has confirmed that G&S Technologies Group has acquired an additional 12.45% of Hydrodec's US operation, Hydrodec of North America, for US$1.7 million under an agreement announced in 2013.
The consideration has been satisfied by the provision of feedstock to the value of US$1.37 million and the payment, with immediate effect, of US$0.33 million in cash.
Upon completion of this purchase Hydrodec retains 62.5% of the voting interests in HoNA.
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The sector's other biggest risers were Gulf Keystone (LON:GKP) and Xcite Energy (LON:XEL) - up by more than 11.4% and over 7.1% respectively in late trading. The biggest fallers were President energy (LON:PPC) and Egdon Resources (LON:EDR) - down by more than 8.5% and over 6.1% respectively.
(LON:AUR) Aurum Mining PLC share price was -0.1p at 2.65p
(LON:BOR) Borders Southern Petroleum PLC share price was +0.12p at 2p
(LON:CHAR) Chariot Oil Gas Ltd share price was +0.16p at 8.91p
(LON:ENQ) EnQuest Plc share price was +0.88p at 29.88p
(LON:GKP) Gulf Keystone Petroleum share price was +0.14p at 1.32p
(LON:GPX) Gulfsands Petroleum PLC share price was 0p at 2.88p
(LON:HYR) Hydrodec Group PLC share price was +0.06p at 2.38p
(LON:INDI) Indus Gas Ltd share price was +0.13p at 487.63p
(LON:OEX) Oilex Ltd share price was +0.06p at 0.46p
(LON:PET) Petrel Resources PLC share price was 0p at 6.75p
(LON:PPC) President Energy Plc share price was -0.68p at 7.3p
(LON:RKH) Rockhopper Exploration PLC share price was +0.5p at 27.75p
(LON:RPT) Regal Petroleum PLC share price was 0p at 3.75p
(LON:XEL) Xcite Energy Ltd share price was +0.11p at 1.58p