Two rns releases this week the first announced that Aminex has agreed with Key petroleum that it will withdraw from the West Songo-Songo PSA, transferring its 50% interest to Key which will then hold 100%. In exchange, Key will relinquish its 5% interest in the new ‘Nyuni Area PSA’ in favour of Aminex. The West Songo-Songo transfer is being submitted to the Tanzanian authorities for formal approval but the practical aspects of the transfer will be implemented immediately. The second release came this morning via an update on progress at its Nyuni-2 well, offshore Tanzania. “After successfully mastering the most difficult of the anticipated drilling zones in the well, several days have now been spent attempting to clear rubber debris from a number of centralisers which broke away from a wireline logging tool, in order to be able to complete the logging operation and then attempt to continue drilling. After recovering some of the debris, a good rate of penetration was achieved until 14 September when the remaining junk prevented any further progress. A decision has now been taken to pull back to approximately 3,000 metres, above the area of blockage, and to side-track the well, by-passing the obstruction. Preparation for the side-track will take several days, after which drilling will recommence.” Nyuni-2 is the fourth well to be drilled by Aminex as operator in Tanzania, through its wholly-owned subsidiary Ndovu Resources Ltd., and the fifth one in which it has participated in the country. This well is being drilled using the Caroil Rig-6 to test a Lower Cretaceous age gas target in Neocomian sandstones. It is being drilled from Nyuni Island, in the Indian Ocean, approximately 35km from the coast of Tanzania, at an angle of 30 degrees from vertical and targeting a bottom hole location approximately 1,200 metres to south-east of the surface location. When drilling is completed, the rig will be used to carry out maintenance work before being rigged down and mobilised to the Ruvuma basin in south-eastern Tanzania, where it is scheduled to commence drilling the Aminex-operated Ntorya-1 exploration well later this year. For reasons of continuity and logistics, Aminex (Ndovu) has taken over operatorship of Ntorya-1 from Tullow Oil, as previously announced.
The absolute ridiculous AGM Location! The Falkland Islands based exploration company focused on the North Falkland Basin, announced that its 2011 Annual General Meeting (“AGM”) will be held in the Falkland Islands at the Chamber of Commerce, West Hillside, Stanley, FIQQ 1ZZ on Thursday 13 October 2011, commencing at 5.00 pm (local time). Notice of the AGM has today been sent to shareholders. OF COURSE THERE’LL BE NO ONE THERE TO ASK QUESTIONS BARING A FEW SHEEP AND THE ODD SQUADIE!
Aurelian Oil & Gas;
Bad news came today in the form of an update on the stabilised flow testing on Trzek-3 MFHW. Initial data indicates that the gas recovery from the Trzek-3 appraisal well is considerably lower than anticipated and could be between 4bcf-8bcf rather than the 16bcf-20bcf that the Company was expecting. The well is also producing higher levels of water than expected. Flow testing will continue until the end of September when a further update on the well test, the Company’s ongoing appraisal plans and the subsequent timing of gas commercialisation from the Siekierki Tight Gas project, will be provided as part of the Company’s interim results presentation.The Siekierki project is located on the Poznan licences which are 100% held by Energia Zachόd Sp. z.o.o., a company owned 90% by Aurelian and 10% by Avobone N.V. The shares were trading 63% down at the time of writing!
Posted their Interim Results for the six months ended 30 June 2011. Highlights included…3D seismic programme completed in Tranches C, D, F and adjacent open areas. Initial interpreted data from our priority areas are encouraging…An updated Competent Persons Report over our priority areas to be published in Q4 2011…Appointment of Graeme Thomson to Board as an Independent Non-Executive Director and Chairman of the Audit Committee …Rockhopper Exploration announced in August that in their high case up to approximately 10% of the Sea Lion field may extend into PL004 (Tranche D) in which Desire has a 92.5% interest. Commenting on the results, Stephen Phipps, Chairman of Desire, said: “The information Desire has gained in the period from both our own wells, other wells drilled in the area, combined with the recently acquired 3D seismic data on our acreage, reaffirms our belief in the prospectivity of our acreage in the North Falklands Basin. We are therefore continuing to review all available financing options with an intention to rejoin the current drilling campaign when possible.”
Announced more Board changes. With effect from 1stOctober 2011. In come Frank Jackson,David Parry,Derek Cochrane,Damian Minty. Out goes Barath Rajgopaul.
On 31 August 2011, the Company advised that the second Eagle Ford well in which it has an interest had flowed at the rates of 1,488 bopd and 700 mcfgpd (combined 1,605 boepd) through a 16/64″ choke at a pressure of 3,000 psi.Texon Petroleum Limited has now advised that the well has been choked back, which typically results in a reduction in production, however, over the past 24 hours on a reduced 9/64″ choke and at a pressure of 3,700 psi, the well has flowed at a rate of 1,786 bopd with 322 mcfgpd – an overall rate of 1,840 boepd. 30 day production results will be announced in a few weeks time. Global has a 7.939% working interest in approximately 1,651 acres beneath the Olmos formation including the Eagle Ford Shale. Global’s interest in the Leighton prospect also includes a 15% working interest in approximately 873 acres from the surface down to the stratigraphic equivalent of the Olmos formation.
Gulf keystone Petroleum;
Issued a mouth-watering half yearly report. Copy’s of which can be viewed by clicking this link.http://online.hemscottir.com/ir/gkp/news_xml.jsp?item=773925189470900&ST=GKP
Leni Gas and Oil;
The oil and gas production company with assets in Spain, US Gulf Coast, Trinidad and Malta, announces its unaudited results for the six month period ending 30 June 2011.
Two epistles this week from Max. First one announced that Max has commenced drilling the ASK-2 exploration well in Block E, targeting Jurassic and Triassic reservoirs with estimated unrisked mean resource potential of 50 mmbo. The total depth of the well will be approximately 3,300 metres.The second announced that Saipem’s National 1625 DE onshore drilling rig for its deep, pre-salt exploration programme has been released from the previous operator’s location and is currently being mobilised to drill the NUR-1 well on the Emba B prospect in Block E. The Company estimates the NUR-1 well will begin drilling on or before 31 October 2011.
A busy week on the RNS front for Petroceltic with no less than 5 company news releases. The upshot of which ended with an Algerian Operational Update. Copy’s of all the news here can be found by clicking this link.http://www.petroceltic.ie/
The International oil and gas exploration, development and production company, announced the following update with respect to the Company’s Trinidad and Georgian Operations. Much to lenghty to put on here so Investors will have to yes you’ve guessed it click the link!http://www.shareprice.co.uk/RRL/RANGE-RESOURCES-LD
Released more good news from their recent drill on the 14/10-7 well. The company found more oil.Net pay 26m (85 feet).net pay Sea Lion Main Complex (SLMC) 25m.net pay lower sands 1m. Gross reservoir SLMC 35m. Net to gross SLMC 72%. Reservoir quality in SLMC:Average porosity 22%, maximum 27%.Average Sw 27%.Average permeability 70mD, maximum 230mD. No oil water contact was encountered. Rockhopper stated that it was another terrific result and that the Results are at upper end of expectations. The well was located close to the northern edge of the fan system in an area of relatively lower seismic amplitudes and thinner reservoir.
Released Its interim results, Trap said the drilling of Orchid would be the first in a 14-plus well campaign over the next two and a half years. Other participants in Orchid include Valiant Petroleum, Atlantic Petroleum and the operator, Summit Petroleum. Trap described the prospect as “a modest risk exploration play for approximately 40 million barrels of oil equivalent”. Copy’s of the full report can be viewed by clicking this link.http://www.shareprice.co.uk/TRAP/TRAP-OIL-GRP
Announced that it has drawn down on its Standby Equity Distribution Agreement with YA Global Master SPV Ltd as announced on 28 September 2010 in the amount of £6.9 million. This draw down has been undertaken at a price of £1.2816 per share and will result in the issue of 5,383,894 ordinary shares of no par value in the capital of the Company to Yorkville. This funding will be used as future working capital for the Company and to progress towards first oil from the Bentley field.