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Slumping oil prices are putting pressure on U.S.
Despite nearly unprecedented geopolitical concerns, both US and global crude prices have decreased during the third quarter of 2014 due to a surge in domestic production and weak oil demand growth. While the latest Department of Energy forecasts project continued increases in US oil production over the next 5-7 years, recent IEA estimates predict lower global oil demand growth than previously expected.
Trinidad Operations Since May 2014 the Company has successfully drilled nine (8.16 net) wells.
Fluor Corporation (NYSE: FLR), in a joint venture with Technip, was awarded an engineering, procurement and construction management contract by PRPC Utilities and Facilities Sdn. Bhd.
Chevron Corporation (NYSE:CVX) announce a new oil discovery at the Guadalupe prospect in the deepwater U.S.
FX Energy, Inc. (NASDAQ: FXEN) announce that drilling has started at the Company's Angowice-1 well.
Juneau Energy, LLC, a subsidiary of Leucadia National Corporation, announced that it has completed the acquisition of oil and gas properties in East Texas, consisting of approximately 20,800 net acres primarily in Houston and Leon counties. Brad Juneau, CEO, remarked, 'This acquisition represents a unique addition to our asset portfolio and provides a contiguous acreage position with significant stacked pay potential in the Buda, Georgetown, Edwards, and Glen Rose formations.
I see that Oil & gas UK has been talking again about the need for George Osborne to ‘put his money where his mouth is’ (I paraphrase!) and change the fiscal terms operative in the UKCS. This of course would be very welcome.
Continental Resources, Inc. (NYSE: CLR) announce continued success in its recently unveiled Springer play in the South Central Oklahoma Oil Province (SCOOP).
Husky Energy (TSX:HSE) delivered another steady performance in the third quarter, with its balanced growth and focused integration strategy contributing to predictable results. "With all areas of our business, we are carefully staging our activities to not only provide dependable cash flows and returns, but to also fund future projects," said CEO Asim Ghosh.
Aqua Terra Water Management, L.P.
Oil price Ok, so we whispered it a little too loudly and the oil price came off again last night after a poor set of inventory stats. These came in from the EIA as a 7.
President & CEO Matti Lievonen: "While the general outlook for European refining remains challenging, the short-term market situation has clearly improved. Neste Oil has continued to implement internal improvement actions, and most of the targeted result improvements for this year have already materialized.
Jericho Oil Corporation (TSX-V: JCO, Frankfurt: JLM) announce that gross daily production from its Eastern Kansas oil producing acreage averaged approximately 118 barrels of oil per day in September 2014 with cumulative monthly production exceeding 3500 barrels. This represents an increase in production of approximately 130% since Jericho recommenced trading on the TSX Venture on March 25, 2014.
Nostra Terra (AIM:NTOG), the oil and gas exploration and production company with a growing portfolio of assets in the USA, is pleased to announce the spudding of the 18th development well in which it has an interest in the Chisholm Trail Prospect, located in Oklahoma. The Bollenbach 1-33H well (CT-16) has spudded and is drilling forward.
There’s something about $80/barrel crude that gets petrochemical markets in the US all riled up. As the energy complex slowly emerges from its latest dip, let’s take a look at how some of these key markets fared over the past two weeks.
Bellatrix Exploration Ltd. (TSX, NYSE: BXE) announce the appointment of Steve G.
Weatherford International plc (NYSE: WFT) reported net income before charges of $248 million ($0.32 diluted earnings per share on a non-GAAP basis) on revenues of $3.
InterMoor, an Acteon company, has completed two major offshore projects for China Offshore Oil Engineering Corporation (COOEC) with support from Acteon sister companies in the Panyu and Enping fields, Pearl River Mouth basin, South China Sea. To extend the life of the Hai Yang Shi You III FPSO, the first project involved full mooring system replacement in the Panyu field.
GDF SUEZ E&P UK Ltd and BP today announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f (licence P1588) and BP operated block 30/1c (licence P363) was flow tested at a maximum rate of 5,350 barrels of oil equivalent per day.
Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.
Red Emperor Resources NL announce the appointment of Nathan Rayner to the Board of Directors, effective immediately, following the resignation of Stephen Brockhurst. Mr Rayner is a Petroleum Engineer with over 15 years of experience, specialising in resource and project evaluations, field development planning and production optimisation.
Azabache Energy Inc. (TSX VENTURE:AZA) announces the appointment of Mr.
OriginOil Inc. (OTC/QB: OOIL), developer of Electro Water Separation (EWS), the high-speed, chemical-free process to clean up large quantities of water, today announced that it has received its third international patent for its core technology from the China Patent Office.
The Kodos-1 exploration well in Block 10BB was drilled to a total depth of 2500 metres and encountered hydrocarbon shows which indicates the presence of an active petroleum system. This is the first well drilled in the Kerio Basin, northeast of the successful South Lokichar Basin, and it appears to have been drilled in an area of unfavourable reservoir development, near the basin bounding fault.
| Thursday, October 23, 2014
Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company today announces that it has opted not to apply for a new exploration licence in the Northern Blocks 1811A&B, offshore Namibia, with the current licence due to lapse on the 26 October 2014. The Chariot team has analysed significant amounts of proprietary seismic and well data, as well as integrated information from third party drilling activity to study the possibility for long range hydrocarbon migration to the Zamba prospect.
| Thursday, October 23, 2014
Baron Oil plc, the independent oil and gas exploration and production company focused on Latin America, is pleased to make the following announcements. Block Z-34 Baron Oil Plc (formerly Gold Oil), along with partner Union Oil and Gas Group Corporation ("Union"), has obtained approval from Perupetro to convert the Third Work Phase from a seismic obligation into a drilling obligation.
The Board of Jupiter Energy Limited, the Kazakhstan-focused oil exploration and production company, quoted on AIM ("JPRL"), ASX ("JPR") and KASE ("AU_JPRL"), is pleased to provide shareholders with the following Operations Update. Extension of Block 31 Exploration Period: The Company is pleased to advise that the Exploration Period under Contract 2275 (comprising Block 31 in which all of the Company's current operations are based) has been extended to 29 December 2016.
Magnolia Petroleum Plc, the AIM quoted US onshore focused oil and gas exploration and production company, is pleased to report initial production rates for six wells in the Woodford and Mississippi Lime formations, Oklahoma. Magnolia holds a 4.
Tullow Oil plc announces the results of a series of recent exploration and appraisal activities conducted in Blocks 10BB and 13T onshore Kenya. Kodos-1 wildcat exploration well in the Kerio Basin The Kodos-1 exploration wildcat in Block 10BB is the first well drilled in the Kerio Basin, northeast of the successful South Lokichar Basin.
| Thursday, October 23, 2014
TGS reports net revenues of USD 190 million in Q3 2014, compared to USD 191 million in Q3 2013. Earnings before interest and taxes (EBIT) totaled USD 71 million, corresponding to an EBIT margin of 38%.
Madagascar Oil (AIM:MOIL) today announces the following Board changes, all of which are taking place with immediate effect. Mr Teck Soon Kong, a Non-Executive Director of the Company and nominated representative of Benchmark Advantage Fund Ltd and BMK Resources Limited (the "Benchmark Parties") has, at the direction of the Benchmark Parties, resigned from his position as a representative of the Benchmark Parties and Non-Executive Director of the Board, with immediate effect.
Total's Board of Directors met today and paid homage to Chairman and CEO Christophe de Margerie, who died tragically in an airplane accident in Moscow on the night of October 20-21, 2014. After joining the Group in 1974, Christophe de Margerie was appointed to the Executive Committee in 1999, then named CEO of Total on February 14, 2007, and Chairman and CEO on May 21, 2010.
Royale Energy, Inc. (Nasdaq:ROYL) announce it has achieved a sustained rate of 1,600,000 cubic feet per day after opening an initial 2 feet of a 65 foot gross interval in the recently drilled McKinney well.
Petro One Energy Corp. (TSX VENTURE:POP)(FRANKFURT:C6K1) reported on October 8, 2014 that it had closed a private placement of $3,260,842.
Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.
Foster Wheeler AG (Nasdaq:FWLT) announce that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement, and construction (EPC) contract by ExxonMobil Petroleum & Chemical BVBA ('Esso') for the Antwerp Northwest Europe Resid Upgrade Project - Revamp and Offsites facilities at the Esso Antwerp Refinery at Antwerp, Belgium. Foster Wheeler's contract value was not disclosed.
Oil price Whisper it very quietly..
3Legs Resources plc announces that it has applied for 215,884 ordinary shares of 0.025 pence each ("Ordinary Shares") to be admitted to trading on AIM ("Admission").
Train 3 will build on the safe and reliable operations of the two existing liquefaction trains at the Tangguh site, which is located in Teluk Bintuni Regency in Papua Barat province of Indonesia. The Project will add 3.
With reference to stock exchange notice of 6 October 2014, with the announcement of a letter of intent in Malaysia, Electromagnetic Geoservices ASA (EMGS) hereby confirms that the Company has been awarded a contract. The survey will commence on 24 October, using the vessel BOA Thalassa.
Is this downturn in oil prices going to be different for investors? I think it might. In fact, I think North American energy companies have a good chance of withstanding this downfall in prices than any other downturn of the last 40 years.
Donnycreek Energy Inc. ("Donnycreek" or the "Company") (TSX-V: DCK) reports that it has entered into an arm's length definitive arrangement agreement (the "Arrangement Agreement") with Contact Exploration Inc.
RAPTOR-1, PPL 475 Raptor-1 has intersected 200m of the Kapau Limestone target zone, with wireline logs indicating the presence of hydrocarbons. InterOil Corporation (NYSE, POMSoX: IOC) now plans to conduct well testing to determine the hydrocarbon type, column, flow rate and reservoir quality.
Shell today announced a frontier exploration discovery offshore Gabon, West Africa. The well Leopard-1 encountered a substantial gas column with around 200 metres net gas pay in a pre-salt reservoir.
| Wednesday, October 22, 2014
OptaSense, a QinetiQ company and global leader in Distributed Acoustic Sensing (DAS) technology, has successfully prevented external threats to a natural gas pipeline in the republic of Yemen, according to a case study paper due to be presented by Total at ADIPEC, the oil and gas show in Abu Dhabi, 10-13 November 2014. The paper notes 'that since the pipeline intrusion detection system was installed, there has been a significant improvement in pipeline availability and regular LNG shipments.
Bechtel started construction at the Tilbury Liquefied Natural Gas (LNG) facility in British Columbia. FortisBC, the owner and operator of the facility, awarded Bechtel an engineering, procurement, and construction contract to expand its Tilbury facility, which will include a new 1-billion-cubic-foot full-containment LNG storage tank.
The Board of Directors of Southwestern Energy Company (NYSE: SWN) announce that, effective October 20, 2014, Terry W. Rathert has been elected to the Board for a term expiring at the annual meeting of stockholders in 2015.
Australian gold and copper explorer, Empire Resources Limited, (ASX: 'ERL') has announced the company is entering a joint venture opportunity in Africa to focus on one of the principal ingredients used in that country's large offshore petroleum industry. The move is the second international foray for Perth based Empire, adding to its current 17% stake in ASX listed FYI Resources which is developing high demand potash interests in Thailand.
| Wednesday, October 22, 2014
Nabors Industries Ltd. (NYSE: NBR) reported third-quarter 2014 operating revenues and earnings from unconsolidated affiliates of $1.
PetroMaroc Corporation plc (TSXV: PMA) announce that GLJ Petroleum Consultants ("GLJ"), a premier oil and gas resource consulting firm headquartered in Calgary, has completed an independent evaluation of the Undiscovered Petroleum Initially in Place (UPIIP) and prospective resources of the Kechoula structure located in the Sidi Moktar Exploration License, Morocco, incorporating the technical information obtained from the Koba-1 and Kamar-1 wells, which were drilled in 2013 and 2014. GLJ's evaluation report will be available as soon as it has been received, however GLJ has given PetroMaroc permission to report the main conclusions to shareholders and the general public.
Mart Resources, Inc. (TSX:MMT) announce that it is a member of a consortium (the "Consortium") that has entered into an assignment agreement (the "Assignment Agreement") with The Shell Petroleum Development Company of Nigeria Limited ("SPDC"), Total E&P Nigeria Limited and Nigerian AGIP Oil Company Limited (collectively, the "Sellers") pursuant to which a special purpose company ("Consortium SPV") owned directly or indirectly by the Consortium members will acquire a 45% participating interest in Nigerian Oil Mining Lease 18 ("OML 18") and all associated assets, wells, pipelines and infrastructure.
| Wednesday, October 22, 2014
ShaMaran Petroleum Corp. (TSX VENTURE:SNM) (OMX:SNM) announce its financial and operating results for the three and nine months ended September 30, 2014.
Bell Geospace is delighted to announce that following a tender submission, it has been awarded the contract for the provision of Airborne FTG & Magnetic Surveys in the Gewane-El Wiha Block, Ethiopia (Afar Area) by GPB Ethiopia Resources B.V.
| Wednesday, October 22, 2014
Canacol Energy Ltd. (TSX:CNE)(OTCQX:CNNEF)(BVC:CNEC) announce the settlement of 2,697,292 outstanding phantom warrants for US$ 3.
Savanna Energy Services Corp. (TSX:SVY) announce it has signed a contract to expand its drilling operations in Australia.
Crown Point Energy Inc. (TSX VENTURE:CWV) is pleased to provide an operational update.
Mercom Oil Sands plc announces that Albert Taubi has resigned as a director of the Company following a bankruptcy order issued against him dated 16 May 2014, notification of which it received today. Patrick Cross, chairman of Mercom Oil Sands plc, commented "the Board accepts Albert's resignation with profound regret, thanks him for his contribution to the Company and wishes him all success in the future.
The Gazprom Board of Directors approved the adjusted Investment Program, Budget (Financial Plan) and Cost Optimization (Reduction) Program for 2014. According to the adjusted Investment Program for 2014, the total amount of investments will make up RUB 1 trillion 026.
Thalassa is making a statement following the recent inaccurate press coverage (the "Coverage") made without recourse to the Company or its advisers regarding the lease entered into by the Company with Eastleigh Court Limited ("ECL") for 10,000 sq ft of office space at Eastleigh Court on 3 October 2014 (the "Lease" and the "Property"). The Lease was entered into in order to move the Company's principal UK operations from Bude in Cornwall to an area closer to London and Heathrow and Gatwick airports, which the Independent Directors (i.
Amerisur Resources announce that it has presented to the Agencia Nacional de Hidrocarburos "ANH" a request for a partial assignment of interest, rights and obligations in the exploration contract Put-30, awarded to Talisman Colombia Oil & Gas Ltd. ("Talisman Colombia") in the Ronda Colombia 2014 licensing round.
Statoil Petroleum AS, operator of production licence 169, is about to complete drilling of appraisal well 25/8-18 S. The 25/8-4 discovery was proven in 1992 by Norsk Hydro Produksjon AS.
Quattro Exploration and Production Ltd. (TSX VENTURE:QXP) announce the completion of its evaluation well at Wood Mountain, Saskatchewan.
Cue Energy Resources Ltd is pleased to advise, that subject to government approvals, it has agreed to acquire a 100% interest in the Mahakam Hilir PSC in the prolific Kutei Basin onshore Kalimantan, Indonesia. Cue will purchase SPC Mahakam Hilir Pte Ltd, which holds the remaining 60% interest in the Mahakam Hilir PSC; under a sale and purchase agreement with SPC E&P Pte Ltd.
Relentless Resources Ltd. (TSX VENTURE:RRL) announce initial test results from the Relentless Heathdale 8-7-27-9 W4 horizontal Glauconite oil well (the "Well").
DualEx Energy International Inc. (DXE, TSX-V) announce that recompletion operations of the Abiod chalky limestone in its BHN-1 well on the Bouhajla Permit, onshore Tunisia, have concluded and the well will be plugged and abandoned.
Petro-Victory Energy Corp. (TSXV:VRY) announce that the Lapacho well, located on the Pirity Block in Paraguay, has encountered hydrocarbons within the Icla Formation at a depth of 3,926 meters.
Jericho Oil Corporation (TSX-V: JCO, Frankfurt: JLM) announce that it has closed its non-brokered private placement financing previously announced on October 9, 2014 by issuing 8,461,036 units (the "Units") at $0.50 per Unit for proceeds of $4,230,517 (the "Offering").
Resolute Energy Corporation (NYSE: REN) updates certain operating data, provides horizontal well results and provides information for its scheduled conference call to discuss results for the quarter ended September 30, 2014. Our drilling during the third quarter and into the fourth quarter has been focused in Reeves County, Texas (Delaware Basin) andCampbell County, Wyoming (Powder River Basin).
BNK Petroleum Inc. (TSX: BKX) is providing an update on its Tishomingo Field, Caney shale oil operations in Oklahoma as well as its Polish shale gas project.
LDD, an Acteon company, has successfully finished a specialist foundation installation for the Etame Marin block field expansion project, offshore Gabon, West Africa. The company completed the very remote installation safely and on schedule.
| Tuesday, October 21, 2014
Oil price All eyes were on the Chinese data overnight and there was relief that they weren't bad, in the end slightly beating the whisper at 7.3%.
Calmena Energy Services Inc (TSX:CEZ) announce that it has completed the sale of its Brazil operations, including all of its assets and its wholly owned subsidiary located in Brazil to a private Canadian company for a purchase price of $7.4 million.
Taipan Resources Inc. (TSX VENTURE:TPN)(OTCQX:TAIPF) announce that an independent assessment of the Company's prospective resources on Block 1, northern Kenya has been completed by RPS Energy in the United Kingdom ("RPS").
| Tuesday, October 21, 2014
Tourmaline Oil Corp. (TSX: TOU) announce that two new gas facilities, the Musreau Alberta and Doe B.
The next meeting of OPEC ministers is scheduled to take place November 27, 2014 in Vienna. It is not going to be business as usual.
Greenfields Petroleum Corporation (TSX VENTURE:GNF)(TSX VENTURE:GNF.DB) provide an update on the continuing redevelopment of the Gum Deniz and Bahar fields in the Bahar Exploration, Rehabilitation, Development and Production Sharing Agreement ("ERDPSA"), Azerbaijan.
Christophe de Margerie, the CEO of French oil company Total, has died after a plane crashed into a snow plough during take-off in Moscow. "Tonight, a plane crashed when it collided with a snow-clearing machine.
Helix Energy Solutions Group, Inc. (NYSE: HLX) reported net income of $75.
McDermott International, Inc. (NYSE:MDR) announce that one of its subsidiaries was awarded a transportation, installation and pre-commissioning contract by PC Ketapang II Ltd, a subsidiary of PETRONAS, for the Bukit Tua Development Project in the Ketapang block of East Java, Indonesia.
Lamprell (ticker: LAM) announce that it has successfully completed construction of the second Caspian Sea jackup drilling rig, the "Mercury". Completion of this rig is another significant milestone for the Group, particularly as it has been built under challenging conditions but with an excellent safety record and several weeks ahead of schedule.
Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic margin, the North Sea and Norway, announces that it is hosting a site visit for sell-side investment analysts on Tuesday 21 October and Wednesday 22 October 2014 in Stavanger, Norway. The visit will include presentations by Faroe's management and operational team.
Rose Petroleum plc (ROSE.L) announce that it has signed an agreement with Rockies Standard Oil Company, LLC.
Northern Petroleum, the AIM quoted oil company focusing on production led growth, provides the following update regarding drilling and production activities in north west Alberta, Canada. Highlights Summer drilling results Three wells targeting the Keg River edge reef now drilled and completed The wells targeted different parts of two reefs to test edge reef development and productivity The first well tested at a constrained rate under natural flow of more than 1,300 barrels of oil per day ("b/d") This well will be produced at a flaring restricted 80 to 100 b/d until tied in; forecast for January 2015 Post tie-in production rate expected to be between 300 and 400 b/d from this one well The second well, targeting an extreme edge reef location, encountered oil saturated reservoir with poor reservoir quality; moderate production contribution expected Additional economic contribution expected from higher gas zone The third well which tested a more central location encountered a water swept reservoir section and will not be produced but suspended as a potential water disposal well Two well drilling campaign currently being planned for Q1 2015Production update The Company's initial three wells have been producing at a combined restricted rate of approximately 140 barrels of oil per production day Tie-in operations to be completed by year end and production raised to between 200 and 250 b/d for these original wells Group production post tie-in of all wells forecast to be between 500 and 650 b/d at which point the Company is forecast to become cashflow positiveCorporate Year end cash position forecast to be in excess of US$12 millionKeith Bush, Chief Executive Officer, commented: "The production capacity of the first well in this campaign is outstanding and it does not take many wells of this calibre to significantly increase the value of the whole project.
Further to the announcement on 29 September, 2014, JKX Oil & Gas plc ("JKX") is pleased to report that the testing of well E-303 on the Elizavetovskoye field in Ukraine indicates a gross pay of 167 metres spread over eight reservoir horizons. Reservoir properties are analogous to those in the producing wells in the adjacent Machevska field, one of the largest fields in Ukraine, which has a history of significant, sustained production from the deep sandstone reservoirs.
Ophir Energy plc announces the successful Drill Stem Test (DST) on the Fortuna-2 well in Block R, Equatorial Guinea. Ophir holds 80% of Block R and GEPetrol 20%.
| Tuesday, October 21, 2014
Oilex Ltd (ASX: OEX, AIM: OEX) is pleased to announce the appointment of Mr Chris Bath as Chief Financial Officer (CFO) and Company Secretary, with effect from 24 October 2014. Consistent with Company policy, Mr Bath will not be joining the Board of Directors at this time.
Egdon Resources plc (AIM:EDR) is pleased to announce the commencement of drilling operations at the Burton on the Wolds-1 conventional exploration well in UK Onshore Licence PEDL201 located in Leicestershire. The Burton on the Wolds-1 well "spudded" (began drilling) at 07.
Eagle Energy Trust (TSX:EGL.UN) plans to hold a Special Meeting of unitholders on November 24, 2014 to vote on a special resolution to amend the investment restrictions in Eagle's Trust Indenture to permit the acquisition of Canadian energy assets.
Africa Hydrocarbons Inc. (TSX VENTURE:NFK) announce that recompletion operations of the Abiod limestone in its BHN-1 well on the Bouhajla Permit in Tunisia have concluded and the well will be plugged and abandoned.
The United States Department of the Interior, Bureau of Safety and Environmental Enforcement (BSEE) has entered into a new contract with TGS-NOPEC Geophysical Company (TGS) for well log data management services over the next five years for all four regions of the Outer Continental Shelf (OCS). Under the agreement, TGS will also provide the BSEE with historic data from its multi-client database.
Oil price There is a slightly better feel about the oil price this morning, US consumer sentiment appears better and it appears that China, as suggested here a number of times, has been buying for its strategic reserves. Elsewhere the Khafji oilfield in the Saudi/Kuwait territory has seen a production halt due to 'environmental' reasons which takes about 300/- b/d off the market, thank goodness for very small blessings.
ZaZa Energy Corporation (NASDAQ:ZAZA) announce the one-year production results (October 1, 2013 to September 30, 2014) from three of its East Texas vertical wells in Madison and Walker counties, Texas: Toby #1 ('Toby'). During 336 producing days, average three-stream production for the Toby well was approximately 539 boe/d, consisting of about 230 b/d of liquids and 1,853 mcf/d of natural gas (cumulative one-year production of ~181,069 boe).
The Board of Directors of Energy XXI (NASDAQ: EXXI) (AIM: EXXI) appointed Mr. Bruce W.
TomCo Energy plc (AIM: TOM) report that further to the announcement on 13 January 2014, the Company's Notice of Intention to Commence Large Mining Operations ("LMO") has been tentatively approved by the Utah Division of Oil, Gas and Mining ("DOGM"). The approval is another important step in the environmental permitting process and a requirement under Utah State law to take the Company's Holliday Project into commercial production.
Serinus Energy Inc. (TSX:SEN)(WARSAW:SEN) provide the following update on its upcoming two well drilling program in the Satu Mare licence in northwest Romania.
Leni Gas & Oil announce that well GY-669, the sixth of its planned 30 new development wells at the Goudron Field in Trinidad, and the first well from the third drill pad, has been successfully drilled to a depth 2,390 feet measured depth ("MD"). Based on independent petrophysical analysis of the electric logging the well intersected 227 feet of net oil pay in the Goudron Sandstones.
So oft in theologic wars, The disputants, I ween, Rail on in utter ignorance Of what each other mean, And prate about an Elephant Not one of them has seen! --The Blind Men and The Elephant by John Godfrey Saxe When the world's business editors sent their reporters canvassing to find out what is behind the recent plunge in the world oil price, they were doing what they do almost every day for every type of market: stocks, bonds, currencies, commodities and real estate. In financial journalism more often it's the price that makes the story rather than the story that makes the price.
Polarcus Limited (OSE: PLCS) announce that the Company has signed a Letter of Intent ("LOI") with an undisclosed client for a 3D marine seismic acquisition project offshore West Africa. The project, subject to the execution of a service contract, will commence in Q4 2014 and is expected to run for approximately 2 months.
| Monday, October 20, 2014