Announces today that the Annual General Meeting of the Company will be held on Monday 15 August 2011 commencing at 9 a.m. (Mountain Daylight Time, 16:00 London BST) at the offices of Pioneer Management LLC, 100 Fillmore Street, 5th Floor, Denver, CO 80206. A copy of the resolutions to be considered at the Annual General Meeting will be posted to Shareholders today. Details of the resolutions for consideration can be downloaded from the Company website.
Informed the market that a poor response had been received Bluebird had been hoping to raise up to £558,168 by way of an open offer at 1 pence per share, however at the closing date for applications only £210,698 of stock had been subscribed bought.
Announced that the Songkhla H-01 exploration had struck 32 feet of net pay with 20 percent porosity in the Oligocene interval. A drill stem test was performed and the well produced 1,000 bopd with minimal initial pressure draw-down of the reservoir. An appraisal well has spud. Elsewhere, the Bua Ban North B-06 and B-08 wells have been completed using ESPs and are producing approximately 2,000 bopd each from the Miocene interval.
Caza Oil & Gas;
Released some much-needed good news for investors the company announced that log data from the Caza Elkins 3402 well in Texas has confirmed the same multi pay potential for oil and gas in the Spraberry, Wolfcamp, Strawn, Atoka and Mississippian/Devonian formations as found in the Caza Elkins 3401 well (a direct offset to the Caza Elkins 3402). Caza is preparing the Caza Elkins 3402 well for completion operations, which will include a fracture stimulation program. Fraccing of the 3401 well has started.
Informed Investors that it had not received sufficient shareholder approval to allow a $50 million placing of new shares at 70 pence per share to go ahead. It has put in doubt a farm-in by Dominion Petroleum to Mediterranean Oil & Gas’s Malta acreage.
Announced that a programme for the next stage of the workover of its PAP#1 ST#3 well (‘the Well’), onshore Newfoundland, has been submitted to the Department of Natural Resources (‘DNR’). The well was drilled in 2008 and, following flow tests in 2009 and an extended well test in 2010, reworked in late 2010 and early 2011. The first phase of this workover programme has increased the pressure recovery rate and improved reservoir connectivity, and the encouraging results have moved the company to undertake a second phase in the hope of achieving further improvements. The proposed programme should commence in the next 2 weeks and take a maximum of 4 weeks to complete.
JKX Oil & Gas;
Will be announcing its Half Yearly Results for the six months ended 30 June 2011 on Wednesday, 31 August 2011.
Announced that they had reached an Agreement giving KEFI Minerals a period of exclusivity over the Tiouit Gold-Copper Mine (the “Tiouit Mine”) and associated tailings re-treatment project. A non-JORC compliant report, dated February 2011, estimates the three tailings dams contain a total of 285,000m3 (or approximately 460,000 tonnes) at 3 to 4g/t gold and 20 to 30g/t silver. Significant potential remains in the remnant ore in the underground mine.
Leni Gas & Oil;
Has reached an agreement with Advance Oil to farm-in to the North Moruga area leases in Trinidad. Leni Gas & Oil will assume operator-ship and plans to work-over existing producing wells and drill up to nine new wells on the leases. Under the agreement Leni will obtain an immediate 33% interest in net production revenues, and on conclusion of the farm-in work programme, and depending on the number of wells drilled, earn between 33% and 49% interest in the Advance Oil leases.
Lansdowne Oil & Gas;
Announced another placing which has raised £6.13 million in a placing of new shares at 15p pence per share. The net proceeds will fund Lansdowne’s 20% share of the drilling of an appraisal well on the Barryroe oilfield in September.
Advises that the mobilization for the large volume multi-stage fracture stimulation of the horizontal Cambay-76H well has been completed with all equipment now on site and rigged up. The Black Pearl drilling rig has been fully demobilised from site. In preparing for the start of the fracture stimulation program; a test of all surface equipment has been conducted, mixing of chemicals and loading of proppant and water to tanks is underway and coiled tubing operations are being completed. The fracture stimulation program will comprise eight stages with two fracture initiation points per stage. The well will then be flowed to surface to remove stimulation fluids and clean up the well bore prior to conducting the flow test. The Cambay-76H “proof of concept” horizontal well is evaluating the production potential of the Y Zone interval of the extensive Eocene “tight” reservoirs in the onshore Cambay Production Sharing Contract (“PSC”), Gujarat, India.
Informed the market that it has executed two Production Sharing Contracts with the Kurdistan Regional Government of Iraq. The PSCs are in respect of the Dinarta and Shakrok exploration blocks in the central north of the Kurdistan Region of Iraq. Each PSC has an initial 3 year exploration period during which the joint venture will acquire 2D seismic and drill a minimum of one exploration well.
Has commenced a 21 development well program in Trinidad. Range will use three rigs and ARE targeting an increase in production to between 1,400-1,800 bopd, an increase and reclassification of reserves along with extending the limits of the existing fields.
Released disappointing news the company said that the Marciano-1 ST Well (Sound Oil 100%) is estimated to be insufficient for commercial production. At the Montemarciano Permit (Sound Oil 75%) site construction for the Casa Tiberi-1 exploration well is expected to start before 24 August with the intention to spud the well within 90 days of that.
It’s good riddance to Andrew Grosse as failing Sterling Announce that, Exploration Director, has resigned to pursue other opportunities. The terms of his employment with the Company contain provisions for a 6 month notice period. The Company will start the process to seek and appoint a successor.
San Leon Energy;
Has NOW FINALLY contracted a rig for its upcoming two well programme in Poland’s Nida Trough. Both wells are planned to reach a total depth of 1,000 meters and test multiple targets on trend with the prolific Plowowice and Grobla oil fields. The first well, Chopin-1, is set to spud in early September immediately followed by the Belvedere-1 well.
Released some good news. The AKD05 Doris appraisal well in Kazakhstan has flowed some 2,088 barrels of fluid per day, of which 1,568 barrels per day was 45 degrees API oil. Flow data indicate that the well would be capable of flowing around 3,000 barrels per day with reconfiguration of the production facilities.
Announced that drilling has commenced on its first Norwegian exploration well, 6407/5-2S, on PL471 located in the Norwegian Sea. The well is targeting Chamonix, a potentially large Cretaceous stratigraphic prospect, and the secondary Cortina prospect in the Jurassic.