- Cobalt Energy (CIE) -1% premarket on news its latest Lontra well offshore Angola found more natural gas than expected, flowing 2,500 barrels of gas condensate and 39M cubic feet of gas a day during tests in Block 20.
- The area has a “risk” of having high volumes of gas, Bernstein analysts say, and gas content in Angola discoveries could offset the value of oil because foreign investors cannot market gas under the country’s production-sharing agreements.
- Lontra is a discovery "on a global scale,” CEO Joseph Bryant says. “Although the field contains more gas than our pre-drill estimates, it is beneficial that Lontra is offshore near Luanda, where we believe there is a potentially large emerging market for gas."
From other sites
at CNBC.com (Dec 29, 2014)
at CNBC.com (Aug 20, 2013)
at CNBC.com (Aug 7, 2013)
at CNBC.com (Sep 18, 2012)
at CNBC.com (Aug 2, 2012)
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