Core Viewpoint - The Gross Law Firm has announced a class action lawsuit on behalf of shareholders of Sable Offshore Corp. (NYSE: SOC) who purchased shares during a specified class period, alleging that the company made materially false and misleading statements regarding its oil production activities [1][2]. Group 1: Allegations - The complaint claims that Sable Offshore Corp. falsely represented that it had restarted oil production off the coast of California when it had not, leading to materially misleading statements about the company's business and operations [2]. - The lawsuit asserts that when the true information became public, investors suffered damages due to the inflated stock price resulting from these misleading statements [2]. Group 2: Class Action Details - The class period for the lawsuit is defined as May 19, 2025, to June 3, 2025, inclusive, including shares purchased during the company's secondary public offering on May 21, 2025 [1]. - Shareholders are encouraged to register for the class action by September 26, 2025, to potentially be appointed as lead plaintiffs, although this is not required to participate in any recovery [3]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors who have suffered losses due to deceit and illegal business practices [4]. - The firm aims to ensure that companies adhere to responsible business practices and seeks recovery for investors affected by false or misleading statements [4].

Core Viewpoint - TotalEnergies has been awarded four offshore exploration contracts by the Liberian government, indicating a strategic expansion in the energy sector in Liberia [1] Company Summary - TotalEnergies is a French energy major that is actively pursuing offshore exploration opportunities [1] Industry Summary - The awarding of exploration contracts by the Liberian government highlights the potential for growth in the offshore energy sector in Liberia, which may attract further investments from major energy companies [1]

Core Insights - TotalEnergies has signed four Production Sharing Contracts (PSC) for exploration blocks LB-6, LB-11, LB-17, and LB-29 offshore Liberia [1] - The contracts were awarded following the 2024 Direct Negotiation Licensing Round organized by the Liberia Petroleum Regulatory Agency [1] - The total area covered by these blocks is approximately 12,700 square kilometers, located in the southern part of the Liberia Basin [1] Company Activities - The work program associated with these contracts includes various exploration activities [1]

Core Insights - The Egyptian General Petroleum Corporation (EGPC) has signed three new agreements with international companies for oil and gas exploration in various regions of Egypt, including the Western Desert, Gulf of Suez, and North Sinai [1][2][3] Group 1: Agreements and Investments - Berenco Egypt will explore the Offshore North Sinai area, planning to drill three wells with an investment of $46 million (E£2.22 billion) and a $1 million signature bonus [2] - Apache will focus on the Western Desert, exploring five blocks and planning to drill 14 wells, requiring an investment of $35 million and a $25 million signature bonus [3] - Dragon Oil will drill three wells at East El-Hamd in the Gulf of Suez, with financial commitments of $40.5 million (Dh148.74 million) and a signature bonus of $4.5 million [3] Group 2: Strategic Importance and Goals - The agreements reflect the growing confidence of international companies in Egypt's energy sector, as stated by Egypt's Minister of Petroleum and Mineral Resources Karim Badawi [2] - Dragon Oil's acting CEO emphasized the company's commitment to strengthening its presence in Egypt and supporting EGPC's efforts in the Gulf of Suez region [4] - EGPC has partnered with Norway-based DNV to establish science-based targets for its net-zero strategy, contributing to Egypt Vision 2030 and aligning with the Paris Climate Agreement [5]

Company Overview - Devon Energy Corporation (DVN) has a market cap of $22.1 billion and is a leading independent U.S. oil and natural gas producer with operations in major shale basins including Delaware, Eagle Ford, Anadarko, Williston, and Powder River [1] - The company holds over 2.1 billion BOE in proved reserves and emphasizes financial discipline through strong free cash flow, efficient capital spending, a fixed-plus-variable dividend policy, and share buybacks [2] Stock Performance - Devon Energy's shares have decreased 13.1% over the past 52 weeks, underperforming the Nasdaq Composite's 26% increase during the same period [4] - The stock has pulled back 19.7% from its 52-week high of $43.29, but has increased 6.2% year-to-date (YTD), compared to Nasdaq's 14.7% rise [3][4] - On September 11, shares slipped more than 1% due to falling WTI crude oil prices, which were down nearly 2% [5] Analyst Sentiment - Despite the stock's weak performance, analysts maintain a moderately optimistic outlook with a consensus rating of "Moderate Buy" from 27 analysts [6] - The mean price target for DVN is $45.08, indicating an upside potential of 29.7% from current market prices [6]

Core Points - Altai Resources Inc. announced the dismissal of its claim against the Government of Quebec regarding the expropriation of its oil and gas exploration assets in 2022 [1] - The dismissal was granted by the Superior Court of Quebec at the request of the Attorney General of Quebec, citing that the company no longer had legal representation [1] Company Overview - Altai Resources Inc. is based in Toronto, Ontario, and has an oil property in Alberta along with a Canadian investment portfolio consisting of cash and cash equivalents [2]

Group 1 - TotalEnergies SE has received the Nzombo exploration permit in the Republic of the Congo, enhancing its exploration portfolio [1][3] - The Nzombo permit covers an area of 1,000 km², with TotalEnergies operating 50% of it, while QatarEnergy and SNPC hold 35% and 15%, respectively [2] - Drilling for one exploration well is scheduled to commence before the end of 2025, indicating a strategic timeline for the project [2] Group 2 - The award of the Nzombo permit aligns with TotalEnergies' strategy to grow its exploration portfolio by leveraging existing facilities [3] - TotalEnergies continues its long-term collaboration with the Republic of the Congo, where it operates existing production facilities [3] - TotalEnergies is a global energy company involved in the production and sale of various energy sources, including oil, biofuels, natural gas, and renewable energy [4]

U.S. oil major Chevron has submitted a bid to explore for natural gas in four blocks offshore Greece in a consortium with Greece's Hellenic Energy , Greece's Energy Minister Stavros Papastavrou said o... ...

Core Viewpoint - Pelican Acquisition Corporation has signed a definitive Agreement and Plan of Merger with Greenland Exploration Limited and March GL Company, aiming to create Greenland Energy Company, which will focus on hydrocarbon exploration in the Jameson Land Basin in East Greenland [1][4][8] Company Overview - Pelican Acquisition Corporation is a publicly listed special purpose acquisition company (SPAC) that is set to merge with Greenland Exploration and March GL, transitioning to Greenland Energy Company post-merger [1][15] - Greenland Exploration Limited is focused on developing strategic positions in North American energy assets, aiming to deliver long-term shareholder value [12] - March GL Company has entered into an agreement for drilling in the Jameson Land Basin and will fund exploration wells to delineate the energy potential of the area [13] Industry Insights - The Jameson Land Basin has significant hydrocarbon potential, with recoverable resources estimated in the multi-billion-barrel range, although it has remained undrilled due to past corporate and macroeconomic conditions [2][6] - March GL has reprocessed legacy seismic data, identifying over 50 distinct oil and gas targets, which positions the company to accelerate drilling efforts in the basin [3][5] - The Greenland Government has approved the mobilization of heavy equipment for drilling activities, indicating a supportive regulatory environment for resource development [4][5] Transaction Highlights - The merger is expected to close in the fourth quarter of 2025, with an implied valuation of $215 million for up to 70% ownership in the Jameson Land Basin [7][15] - Existing shareholders of Greenland Exploration and March GL will receive a significant number of shares in the new Greenland Energy Company, with Pelican shareholders receiving one share for each share they hold [15] Leadership and Governance - Post-merger, the leadership team will include Larry G. Swets, Jr. as Executive Chairman and Robert Price as CEO, with representatives from all three companies involved [10]

Core Viewpoint - Reconnaissance Energy Africa Ltd is making significant progress in drilling the Kavango West Well in Namibia, with expectations to reach the Otavi reservoir soon, which could have a transformative impact on the company and the region [1][3][4]. Drilling Progress - Drilling commenced in late July and has reached a depth of approximately 1,900 meters, with plans to set the next casing string at around 2,400 meters in the coming weeks [1][3]. - The next casing string at 2,400 meters is crucial as it precedes drilling into the main objective, the Otavi reservoir [3][5]. Significance of the Area - The Damara Fold Belt is identified as a new play in Namibia, with the Kavango West Well being drilled following encouraging results from a previous well [4]. - Estimates suggest the potential for around 340 million barrels of oil un-risked and approximately 30 million barrels risked, indicating a significant opportunity if successful [4]. Data Collection and Analysis - While drilling, the company collects data through cuttings and rock observations, but the main objective is not yet reached, and no significant findings are expected until drilling into the Otavi reservoir [5]. - The Otavi section is expected to be around 1,500 to 1,800 meters thick, presenting a highly prospective drilling opportunity [5]. Communication Strategy - The company plans to provide updates only after reaching total depth to ensure a comprehensive analysis and high certainty in disclosures [6]. - There is considerable industry interest in the well, highlighting its potential impact on the company and the broader sector [7].