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Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement with an international oil company. The agreement, which is worth USD 3.
Baker Hughes Incorporated (NYSE: BHI) announce that it has implemented a new policy of disclosing 100% of the chemistry contained within its hydraulic fracturing fluid systems, without the use of any trade secret designations. The company announced in March of this year its plans to provide complete lists of all of its products and chemical constituents for all wells it fractures using its hydraulic fracturing fluid products, without detailing specific product formulations.
Imperial Oil Limited today announced the completion of a major planned maintenance turnaround at its Kearl facilities. "We would like to wholeheartedly congratulate and thank our contractors and employees for completing this major turnaround without a lost-time safety incident," said John Whelan, Imperial Production Manager, Mining.
Noble Energy, Inc. (NYSE: NBL) today confirmed plans to resume exploration drilling in the Falkland Islands in 2015 following the acquisition and evaluation of an extensive 3D seismic program over portions of the Company's 10 million acre position.
Marquee Energy Ltd. (TSXV: "MQL") announce that it has completed the previously announced disposition of its non-core, gas-weighted asset located in the Pembina area of western Alberta (the "Transaction").
TransCanada Corporation (TSX:TRP)(NYSE:TRP) announce it has entered into an agreement to sell its remaining 30 per cent interest in Bison Pipeline LLC (Bison) to its master limited partnership, TC PipeLines, LP (NYSE: TCP) (the Partnership) for cash proceeds of US$215 million. The sale is expected to close on October 1, 2014.
Bill Barrett Corporation (NYSE: BBG) announce that it closed the previously announced sale of the Company's remaining position in the Gibson Gulch natural gas program in the Piceance Basin. The Company also announced that it closed the final transaction of its previously announced sale of the majority of its Powder River Basin acreage, which included an acreage exchange adding 7,856 net acres to its position in the Northeast Wattenberg.
Jupiter Resources Inc. announce that it has successfully completed the acquisition of Encana's Bighorn assets in the Alberta Deep Basin for CAD$2.
Lonestar Resources, Ltd. (ASX: LNR, OTCQX: LNREF) provide an update on the Company's initial successes in its drilling and completion activities in the Eastern Eagle Ford Shale play, including initial production tests from its first two completions which average 738 barrels of oil equivalent per day (95% crude oil and NGL's).
Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA) announce that pursuant to Thomas (Tom) W. Buchanan accepting the position of President and Chief Executive Officer of Athabasca Oil Corporation effective October 1, 2014, he has tendered his resignation from Pembina's Board of Directors (the "Board") effective immediately.
ZaZa Energy Corporation (NASDAQ:ZAZA) announce the 30-Day production results from its East Texas McAdams Cattle Company 1H horizontal well ('McAdams 1H') in Walker County, Texas. Over the first 30 active days of production, average three-stream production for the McAdams 1H was approximately 929 boe/d, consisting of about 529 b/d of liquids and 2,400 mcf/d of natural gas.
Lightstream Resources Ltd. (TSX:LTS) announce the closing of our previously announced agreement with Crescent Point Energy Ltd.
Iona Energy Inc. (TSX VENTURE:INA) has previously announced that Huntington production was expected to be shut down from 30th October 2014 until 5th December 2014 to coincide with the scheduled maintenance shutdown of the Central Area Transmission System ("CATS") riser platform.
Jura Energy Corporation (TSX:JEC) announce that it has entered into an amended loan agreement with its principal shareholder, Eastern Petroleum Limited ("EPL"), pursuant to which EPL has agreed to extend the repayment date of Jura's existing C$ 11 million credit facility provided by EPL (the "Facility") for a further six-month period. The Facility is now repayable at the demand of EPL following the earlier of (i) February 20, 2015 and (ii) ten (10) business days after the closing of a debt or equity financing by Jura for an aggregate amount in excess of amounts drawn down under the Facility.
Tamarack Valley Energy Ltd. (TSX VENTURE:TVE) announce that it has, through its wholly-owned subsidiary, successfully completed its previously announced acquisition of 100% of Suncor Energy's interests in the Wilson Creek area of Alberta (the "Acquisition") for an aggregate purchase price of $168.
Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.
Crew Energy Inc. (TSX:CR) announce that it has closed its previously announced disposition of its petroleum and natural gas assets in the Princess area of Southeast Alberta, with an effective date of August 1, 2014 (the "Princess Disposition").
Edgo Energy announce that it has secured licences for the Qarordon and Surkhsimo (formerly called Karadum and Kyziltumshuq respectively) blocks in Tajikistan and has also signed a service agreement with Klarenco, a Moscow-based subsurface interpretation company. Klarenco has completed an integrated data review of all historical geological, seismic, exploration and production well logs in the areas, which included the interpretation of the data collected during a 2D seismic survey on the Surkhsimo licence area in 2011.
SUMMARY Eden has signed a conditional formal Merger Agreement with its existing UK gas and petroleum Joint Venture partners to merge their respective interests on the following terms: Eden’s wholly owned Australian subsidiary, Adamo Energy Ltd (“Adamo AU”), will transfer its wholly owned UK subsidiary, Adamo Energy (UK) Ltd (“Adamo UK”) to UK Onshore Gas Limited (“UKOG”) (the parent company of the two UK Joint Venture partners of Adamo UK). UKOG will hold 100% of all the merged UK gas and petroleum licences.
The sanctions-driven freeze on US and European involvement in the Russian Arctic gives us time to consider a fundamental question: Should we be exploring in the Arctic at all? On the one hand, as an explorer I am aware of, even excited by, USGS notions that the Arctic may contain say 100 bn boe waiting to be discovered. Some would say there’s more even than that.
Bonavista Energy Corporation (TSX:BNP) would like to announce the following changes to our management team: Mr. Bruce Jensen has been promoted to the position of Chief Operating Officer effective October 1st, 2014.
Cardinal Energy Ltd. (TSX:CJ) announce that it has completed its previously announced acquisition in the Wainwright area of Alberta.
Endeavour International Corporation (NYSE: END) (LSE: ENDV) announce the closing of a $440 million senior secured term loan (the "Credit Agreement") with an annual interest rate of LIBOR plus 10% (with a LIBOR floor of 1%), that matures on January 2, 2017. The proceeds of the financing were used to repay the balance outstanding under the Company's existing credit agreement, dated as of January 24, 2014, to repay in full certain monetary production payments issued by the Company's wholly-owned subsidiary, Endeavour Energy UK Limited ("EEUK"), to repay all reimbursement obligations outstanding with respect to the Company's existing LC Procurement Agreement, dated as of January 24, 2014, to provide cash collateral under the terms of a new LC Issuance Agreement entered into by certain subsidiaries of the Company (pursuant to which Credit Suisse AG has agreed to issue letters of credit for EEUK's account to secure decommissioning obligations in connection with certain of its United Kingdom Continental Shelf Petroleum Production Licenses), for payment of related expenses and to provide additional liquidity to the Company.
National Oilwell Varco, Inc. (NYSE: NOV) announce that its Board of Directors has authorized a share repurchase program to purchase up to $3 billion of the company's outstanding common stock.
ExxonMobil today released a report that outlines for shareholders how the company assesses and manages risks associated with developing unconventional resources, including through hydraulic fracturing. “Hydraulic fracturing has been responsibly and safely used by the oil and gas industry for more than 60 years, but the process isn’t without risks,” said Jeffrey Woodbury, vice president of Investor Relations.
Dragon Oil plc (Ticker: DGO), an international oil and gas exploration, development and production company, is pleased to announce today that Dragon Oil in partnership with ENEL Trade S.p.
Global research from Lloyd’s Register Energy confirms the priorities up to 2025. In the latest industry opinion survey, Lloyd’s Register Energy, the leading compliance, risk and technical consultancy services group, has today released its findings from a major oil and gas survey conducted to assess the impact of innovation and investment by operators in America, Europe and Asia.
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, is pleased to announce it has received a purchase order ('PO') from BG Group (UK) ('BG UK') to supply surface wellhead and mudline equipment services for an exploration well in the UK Continental Shelf in the North Sea. Revenues are expected to commence in December 2014.
Union Jack Oil plc, an onshore oil and gas exploration company with a focus on drilling and development opportunities in the United Kingdom hydrocarbon sector announces that on 30 September 2014 it received notice for the exercise of 20,000,000 warrants thereby generating gross cash proceeds of £51,000 for the Company. Further detail on the warrant exercise is set out below: Exercise price (pence) Expiry date Number of warrants exercised 0.
Gulf Keystone Petroleum Limited, an exploration and production company with operations in the Kurdistan Region of Iraq, today provides an update on the Company's operations at Shaikan, its key producing asset. The Company remains focused on achieving the target of 40,000 barrels of oil per day ("bopd") of production capacity from the Shaikan production facilities ("PF-1" and "PF-2") in line with the Half Year Report schedule published on 28 August 2014.
President Energy confirm that it has successfully completed the first stage of drilling on the Lapacho well and has cased the well to a depth of 3,200 metres, approximately 1,100 metres above the projected start of the target reservoir. The Company is now preparing to drill on to the Target Depth (TD).
Ministry of Energy and Mineral Resources launches International 2014 Bid Round for three blocks in Jordan The Jordanian Ministry of Energy and Mineral Resources (MEMR) announced the launch of The International 2014 Bid Round on 20 August 2014. More> Ministry of Energy and Mineral Resources launches International 2014 Bid Round for three blocks in Jordan Western Australia second Onshore Block offer 2014 The Western Australian Department of Mines and Petroleum announced a second onshore block offer for 2014 at the Petroleum and Geothermal Open Day on 11 September 2014.
Rift Energy Corp. announce it is entering into the first additional two-year exploration program on Block L19 in Kenya after meeting or exceeding all contractual requirements of the initial two-year exploration program.
| Tuesday, September 30, 2014
Sasol appoints Bongani Nqwababa as Executive Director and Chief Financial Officer (CFO) of Sasol with effect from 1 March 2015. Nqwababa has been an independent non-executive director and a member of Sasol's Audit Committee since 5 December 2013.
| Tuesday, September 30, 2014
For two months now, the United Kalavrvta tanker holding 1 million barrels of Kurdish crude has idled in international waters off the coast of Galveston, Texas, awaiting a District Court ruling on whether the oil will be allowed to be sold in the US. But if the Kurdistan Regional Government is hoping that the Obama administration will soften its stance in opposition to Kurdish oil exports, that doesn't appear likely, even as the US seeks to aid the Kurdish peshmerga in their fight against the Islamic jihadist group IS.
PetroQuest Energy, Inc. (NYSE: PQ) announced that in September 2014, the Company completed the sale of its Eagle Ford assets for net proceeds of approximately $9.
RAPTOR-1, PPL 475 InterOil is preparing to set seven-inch casing in the Raptor-1 well in PPL 475 in the Gulf Province of Papua New Guinea. The casing point is slightly above the Kapau Limestone target zone, and is in line with the well program.
Bellatrix Exploration Ltd. (TSX, NYSE MKT: BXE) announce that based upon the success of the first joint venture with Grafton Energy Co I Ltd.
CAMAC Energy Inc. (NYSE MKT: CAK) announce that the suspended rig activities of the Energy Searcher drillship have now resumed, and the technical problem with the drillship's blow out preventer ("BOP") control hoses has now been resolved.
| Tuesday, September 30, 2014
Lynden Energy Corp. (TSX VENTURE:LVL) reports the results of its June 30, 2014 Evaluation of Oil and Gas Reserves on its Midland Basin, Texas oil and gas properties, as evaluated by Cawley, Gillespie & Associates, Inc.
Panorama Petroleum Inc. (TSX VENTURE:PPA) reports that it has entered into a Memorandum of Understanding ("MOU") with State Petroleum Overseas Inc.
Energy XXI (NASDAQ: EXXI) (AIM: EXXI) provided an operations update, including production, recent drilling results, and adjustments to capital budget. Production Update During the company's fiscal first quarter, oil production is averaging approximately 41,700 barrels of oil per day (Bbl/d).
US-focused oil and gas producer Target Energy Limited (OTCQX: TEXQY) (ASX: TEX) is pleased to provide a Fairway operations and corporate update. Corporate As previously advised, the sale of a 10% Working Interest in the Fairway Project to Aurora Energy Partners ("Aurora"), a Texas general partnership in which Victory Energy Corporation (OTCQX: VYEY) owns a 50% interest and serves as managing partner, was to have been completed on 10 September 2014.
New West Energy Services Inc. (TSX VENTURE:NWE) (the "Corporation") is pleased to announce the financial results for the Corporation for its first quarter ended July 31, 2014.
| Tuesday, September 30, 2014
SM Energy Company (NYSE: SM) today announces that Anthony J. Best will retire from his role as the Company's Chief Executive Officer on January 31, 2015.
Gary Gentile, in this week’s Oilgram News Column Regulation & Environment, looked at the lengthy decision by a federal judge in the big civil action surrounding the Deepwater Horizon blowout. More than four years after the 2010 blowout at BP’s Macondo well in the US Gulf of Mexico, fresh insights are being gleaned about the cause of the incident.
NORTH STOCKYARD PROJECT, WILLIAMS COUNTY, NORTH DAKOTA TF NORTH PAD Lateral length Objective Status IP rate BOPD Avg. Rate BOPD# Cum to Date BO Bootleg 4-14-15TFH 7,211 ft.
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, is pleased to announce that on 25 September 2014 it accepted the 'Commitment to Innovative Use of Research and Development' award ('the Award') at the 11th annual Northern Star Business Awards 2014, the flagship event for the Aberdeen & Grampian Chamber of Commerce. The Award recognises Plexus' long standing commitment to research and development ('R&D') which underpins the growing success of Plexus' proprietary friction grip method of engineering called POS-GRIP®.
MX Oil plc, the AIM quoted oil and gas investing company focused on the re-opening Mexican energy sector, is pleased to announce its interim results for the six month period ended 30 June 2014. Highlights Successfully raised £1.
North American Petroleum provide a production update for the recently acquired 1,670 gross acre Shoats Creek Project, in Louisiana ('Shoats Creek' or 'the Project'). NAP holds a 35%/26.
Gulf Marine Services (LSE:GMS), the leading provider of advanced self-propelled self-elevating support vessels (SESV) serving the offshore oil, gas and renewable energy sectors, is pleased to announce the first contract award for its new enhanced Small Class vessel (the Pepper). The vessel, which is currently being built by a third party, is expected to be delivered to GMS in Q1 2015 on a finance lease and will then proceed directly to its first charter for a national oil company in the MENA region.
Empyrean Energy, the profitable US onshore oil, gas and condensate exploration, development and production company with assets in Texas and California, is holding its Annual General Meeting ("AGM") today at 9.30 a.
CanOils is pleased to announce the release of its new free report, Canada's Top 100 Oil & Gas Companies, which has been compiled using Q2 2014 canadian oil & gas production results from all TSX and TSX-V listed Canadian oil and gas companies in the CanOils database. Oil Sands Maintenance has a Major Impact towards the Top of the Rankings Both Imperial Oil and Canadian Oil Sands suffered temporary but significant falls in production in the second quarter of 2014.
Frontera Resources Corporation (AIM: FRR) today released financial results for the first half of 2014. 2014 Half Year Results: Highlights Revenues from crude oil and gas sales for 2014 totaled $3.
Mosman Oil & Gas (AIM: MSMN) advise progress at its Petroleum Creek Project as follows. Crestal-1 Flow Test The casing at the Cobden Limestone zone has been perforated in preparation for the flow testing.
Providence Resources P.l.
Trinity Exploration and Production, plc, the leading independent E&P company focused on Trinidad and Tobago, announced that the Company's Chief Operating Officer Ian MacDonald, has elected to retire. Mr.
Xtract Resources Plc (AIM: XTR) has delivered on acquiring an operating Gold-Copper mine in Chile that has enabled it to achieve the transition from junior explorer to junior miner with the ability to generate cash flow. Significant capital has been invested in the mine during the period under review to open new mining areas and as a result the mine is poised to deliver planned returns in the next six months.
Gulfsands Petroleum plc (AIM: GPX) announces its interim results for the six months ended 30 June 2014. Period Highlights Total bank and cash resources totaled $29.
Nostra Terra (AIM:NTOG), the oil and gas producer with a growing portfolio of horizontal and vertical drilling projects in the USA, is pleased to announce its unaudited interim results for the six months ended 30 June 2014. Highlights: Corporate Cash flow generated from operating activities of £247,000, (30 June 2013: £636,000 consumed) Revenue for the period of £414,000k (30 June 2013: £415,000k) Gross profit before non-cash items of depreciation and amortisation of £250,000 (30 June 2013: £300,000) Revenue for the period of £414,000 (30 June 2013: £415,000) Interim loss before taxation reduced to £356,000 (30 June 2013: loss of £529,000) US$25 million (non-dilutive) Credit Facility secured New Nomad appointed £1.
San Leon Energy Plc, the AIM listed company focused on oil and gas exploration in Europe and North Africa today announces its interim results for the six months ended 30 June 2014. HIGHLIGHTS: Poland Most successful vertical shale frac in Europe to date on the Lewino-1G2 well, and consequent planning of a horizontal multi-frac well and partnering discussions.
Trinity Exploration & Production is pleased to present its interim results for the six months ended 30 June 2014. Financial highlights Revenues of USD 62.
Oil price A very quick and short blog this morning due to meetings in town today, as there are many results and statements out. I will catch up with all of them later in the day and speak to companies as appropriate and do a monster blog tomorrow.
3Legs Resources plc, an independent oil and gas group focusing on the exploration and development of unconventional oil and gas resources, announces its Interim Results for the six months ended 30 June 2014. Operational highlights Two further vertical wells, Lublewo LEP-1 and Slawoszyno LEP-1, drilled and logged on the Lebork and Karwia concessions respectively; cores taken from the Lublewo LEP-1 well.
Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, announces its results for the six months ended 30 June 2014 (the "Period"). Highlights: Operational Northern lobe of Platanillo field de-risked through drilling from Pad-3N 4 successful wells drilled Platanillo 7, 17, 16 and 15 bringing the total to 13 successful wells and 3 sidetracks H1 production constrained at an average of 6,561 bopd (H1 2013: 3,715 bopd), with 242,000 barrels of lost production from election associated national transport disruption Field production capacity is estimated to be in excess of 10,000 bopd, but currently constrained due to oil export routes available Good progress made on the Ecuador pipeline project in Environmental, Technical and Commercial terms 356 km new 2D seismic data acquired in San Pedro block, in ParaguayFinancial Revenue increased to US$114.
TXO, the AIM-quoted energy resource and clean technology investment company, announces an update on its various investments and other matters, pre its financial year end. TXO PLC The Group is in advanced discussions with regards to renegotiating the terms of the convertible loans and settling with all its current convertible lenders.
Independent Oil and Gas Plc, the AIM listed UK oil and gas development and production company, announces its interim results for the six month period ended 30 June 2014. Highlights for the period to 30 June: Blythe East exploration area licence awarded on 12 February 2014 Three licence applications made in UK 28th licensing round, with discovered resources of approximately 45 MMBOE.
Northcote (AIM: NCT) provide a positive operations update primarily in respect to its Shoats Creek Project, Louisiana, in which the Company has a 35% Working Interest ('W.I.
PERIOD HIGHLIGHTS OIL & GAS Signed 230,000 gross acre farm-in located in the Paradox and Uinta Basins of Utah, U.S.
Urals Energy PCL (AIM:UEN) announce its half-year results for the six months ended 30 June 2014. Operational highlights Total production at Arcticneft reached 118,958 barrels (H1-2013: 125,651 barrels) Total production at Petrosakh reached 210,435 barrels (H1-2013: 240,533 barrels) Current daily production at Arcticneft is 690 BOPD - slightly higher than the average of 660 BOPD for the six months ended 30 June 2014 Current daily level of production at Petrosakh is 1,202 BOPD compared with an average of 1,163 BOPD for the six months ended 30 June 2014 Measures to halt natural decline at Petrosakh and Arcticneft, including the completion of successful workovers have stabilised production New well drilling and existing well optimisation programs in place and being implemented on both fieldsFinancial highlights In H1-2014 gross profit was reduced by 28% to US$3.
Lekoil (AIM: LEK), the oil and gas exploration and development company with a focus on Nigeria and West Africa,reports its Half Year Results for the six months ended 30 June 2014. Summary 3D seismic acquisition programme on OPL310 completed successfully, processing of the data is currently underway.
| Tuesday, September 30, 2014
Exploration stocks have few friends in bear markets. Investors avoid the sector, bad news is exacerbated in the market, while good news is ignored.
| Tuesday, September 30, 2014
Andes (AIM: AEN; BCBA: AEN), the Latin American E&P group, announces its unaudited interim results for the six month period ending 30 June 2014. Operational and financial highlights A 66% increase in average daily production from 910 bpd in the year 2013 to 1,510 bpd in the first six months of 2014, reaching 1,590 bpd in June 2014 Shale oil discovery in Vaca Muerta from the Las Varillas x-1 well in the El Manzano West block in Argentina 11 development wells drilled on the Chachahuen license in Argentina, in partnership with YPF, all successfully brought into production 4 operated workovers on the Vega Grande, La Brea and El Manzano licenses in Argentina to maintain production Acquisition of a workover/pulling rig to work in Argentina Continuing to progress the community and environmental programs for the Colombia licenses as well as ongoing technical analysis and prospect generation Within the next 15 months; ambitious drilling plan for Chachahuen; drill and have production from Vaca Muerta; and initiate drilling in Colombia Revenues of US$20.
Range Resources Limited announce that it has signed a loan agreement for up to US$15 million in medium-term financing with Lind Asset Management, LLC, a New York-based institutional investor managed by the Lind Partners, LLC (together, "Lind"). The proceeds will primarily be used to invest in the Company's rig fleet, accelerate development drilling of the Trinidad portfolio and for general working capital purposes of the Company.
FX Energy, Inc. (NASDAQ: FXEN) reported that 25 meters of Rotliegend core have been extracted from the Karmin-1 well from a depth of 2,466 meters to 2,491 meters.
Goodrich Petroleum Corporation (NYSE: GDP) announce a Tuscaloosa Marine Shale ("TMS") operational update. The Company's Bates 25-24H-1 (98% WI) well in Amite County, Mississippi, which was completed with an approximate 4,850 foot lateral and was fracked with 19 stages, achieved a peak 24-hour average production rate of 1,000 barrels of oil equivalent ("BOE") per day, comprised of 938 barrels of oil and 373 Mcf of gas on a 17/64 inch choke.
ShawCor Ltd. (TSX:SCL) today announced that its Bredero Shaw pipe coating division has received contracts with a value of approximately US$200 million from BP Exploration (Shah Deniz) Limited for pipeline coating and other services in connection with the Shah Deniz Stage 2 development project.
Marksmen Energy Inc. (TSX VENTURE:MAH) announce that Marksmen and its Joint Venture Partner, Houghton Investments LLC ("Houghton"), spudded their fifth well on Marksmen's initial Ohio 3D seismic survey area at BJ-78 #8 on September 22, 2014.
Brownstone Energy Inc. (TSX VENTURE:BWN)(OTCQX:BWSOF) announces that it has been informed by its joint venture partners on the Gabriella License that the Petroleum Commissioner in the Ministry of National Infrastructure, Energy and Water of the State of Israel (the "Ministry") provided notice that the Gabriella License has expired, without a further extension being granted, due to the milestones in the work program not being achieved.
Corridor Resources Inc. (TSX:CDH) announce after a comprehensive search process undertaken by the executive search firm of Boyden Global Executive, that it has hired Mr.
Changes to the Board of Directors Mr. Colin Soares has resigned from the board of directors of the Company (the "Board") effective September 27, 2014.
Donnycreek Energy Inc. (TSX VENTURE:DCK) reports the results of its July 31, 2014 Evaluation of Oil and Gas Reserves on its Alberta oil and gas properties, as evaluated by McDaniel & Associates Consultants Ltd.
Tuscany Energy Ltd. (TSX VENTURE:TUS) announce that it has completed a drilling program of five horizontal oil wells and a water disposal well, all in Saskatchewan, increasing its current production average to a corporate record of 890 BOEPD.
CAMAC Energy Inc. (NYSE MKT: CAK) announce that an updated independent assessment of the Company's prospective resources for four offshore Nigeria prospects located within Oil Mining Leases ("OMLs") 120 and 121 by DeGolyer and MacNaughton ("D&M") has increased the Company's unrisked P50 recoverable resources from 537 million barrels of oil ("MMbbl") to 2,377 MMbbl in four of its top exploration prospects.
| Monday, September 29, 2014
The Management Board of the National Bank of Ukraine (the "Bank") announced Resolution No. 591 ("Resolution 591") on September 22, 2014, which prohibits several types of foreign exchange transactions including among other things, the ability of KUB-Gas LLC ("KUB-Gas"), Serinus' 70% indirectly owned subsidiary which owns and operates the Ukraine licences, to pay dividends to its shareholders.
Solo Oil plc (AIM: SOLO) advises that the Horse Hill-1 well has now been drilled to the second casing point at a depth of 1,795 feet measured depth ("MD"), and the setting and cementing a 13 3/8-inch steel casing is now underway. The bottom of the well is currently located in the upper part of the Jurassic and the operator reports that the well has encountered the expected mud gas up to C3 (propane) and mineral fluorescence just above current well depth.
Colombia In line with the previously stated strategy of portfolio rationalisation and the Company's focus on Trinidad, Range has made a strategic decision to refocus its Colombia portfolio to fully-carried positions on three exploration assets, and will not be proceeding with a farm-in option for the PUT-6 block in the Putumayo basin, given the high cost work commitments associated with the block. This strategic exit follows a previously announced withdrawal from PUT-7 block (see announcement on 9 May 2014).
Leni Gas & Oil announce that well GY-667 at the Goudron Field in Trinidad has undergone a series of initial production tests after perforating a 44-foot interval in the Lower Cruse Sandstones resulting in a calculated open-hole flow rate of 540 barrels of oil per day ("bopd"). The well is presently producing 40 degree API gravity water-free oil at a rate of 142 bopd through a 7/32-inch choke with a well-head flowing pressure of 420 psi.
Oil price This morning the oil price is down again, not much but around 70 cents which takes Brent nearer the recent lows, note that the differential is $3.46 at the bottom end of its range.
TransAtlantic Petroleum Ltd. (NYSE-MKT:TAT) (TSX:TNP) announce the successful completion of its due diligence on Stream Oil & Gas Ltd.
DualEx Energy International Inc. (TSX:V - "DXE") announces that mobilization of a rig to the BHN-1 wellsite has begun with recompletion activities scheduled to commence once the rig is operational.
Endeavour International Corporation (NYSE: END) (LSE: ENDV) announced Friday that it has been informed by the operator of the Scott platform that the Rochelle field remains offline. Although the repairs of the Scott export compressors were successfully completed, the gas cooler failed a leak test during commissioning.
Natural gas bulls point to fast increasing exports of cheap US natgas to Mexico to bolster their thesis. Even I was guilty of this last year, when I ran a two part series on this in July 2013.
Junex Inc. (TSX VENTURE:JNX) announce that its board of directors (the "Board") has adopted a shareholder rights plan (the "Plan") to encourage a fair treatment of shareholders, should a take-over bid be made for Junex.
Petro One Energy Corp. (TSX VENTURE:POP)(FRANKFURT:C6K1) report that it has confirmed payment of $500,000 in additional subscription funds pursuant to the Company's agreement with Korea Myanmar Development Company Ltd.
Mosman Oil and Gas Limited (AIM: MSMN), the New Zealand and Australia focused oil exploration and development company, is pleased to announce that as of 26 September 2014, Mosman has received acceptances from Trident Energy Limited ("Trident") shareholders that comprise 90.05% of the entire issued capital of Trident.
Velocys plc (VLS.L), the company at the forefront of smaller scale gas-to-liquids (GTL), is pleased to announce its interim results for the six months ended 30th June 2014.
Velocys plc (VLS.L) announce the proposed placing of up to 23,111,111 new ordinary shares ("Ordinary Shares") at a placing price of 225 pence per share, to raise gross proceeds of approximately £52 million (the "Placing").