Announced the appointment of Mr. Stuard Detmer to the Board of the Company and to the post of Chief Executive Officer with immediate effect. Mr. Brian Hall, who is currently both Chairman and Chief Executive, will remain as the Company’s Executive Chairman. A resolution to approve Mr. Detmer’s appointment to the Board will be proposed to shareholders at the Company’s next Annual General Meeting.
Released their 2011 Interim results. Copies of which can be viewed by clicking this link.http://online.hemscottir.com/ir/arg/ir.jsp?page=news-item&item=773925189477917
Chariot Oil & Gas;
The Company’s Nominated Adviser and Joint Broker, which trades as RBC Capital Markets, has changed its registered name to RBC Europe Limited.
Released a Musical chairs deal as its wholly owned subsidiary company, Cove Energy Kenya Limited together with the its partners, Anadarko Kenya Company, a wholly owned subsidiary of Anadarko Petroleum Corporation and Dynamic Global Advisers Kenya Limited, have signed a farm out agreement whereby TOTAL E&P Kenya BV, a wholly owned company within the TOTAL S.A group has agreed to acquire a 30% interest in Blocks L5, L7, L11A, L11B and L12 covering more than 30,000 square kilometers and situated in the deepwater offshore Kenya, in water depths of between 100 and 3,000 meters (“5 Offshore Blocks”). Cove will contribute 5%, Anadarko 20% and DGA 5% to the Farm Out. In addition to the Farm Out Agreement, TOTAL have agreed to purchase, for cash, DGA’s entire interest in the Kenya Offshore Blocks. In summary, in return for a carry on an accelerated forward exploration programme, Total will acquire: A 5% stake from Cove Kenya, which will maintain a 10% interest in the 5 Offshore Blocks; A 20% stake from Anadarko, which continues as operator and which will maintain a 50% interest in the 5 Offshore Blocks; and A 15% stake from DGA, which sells its entire 15% interest to Total.
Advised that gas production resumed from the Ceres gas field on 17 September 2011, following prolonged maintenance shut-down of the BP Cleeton Platform and associated infrastructure. Total field production is initially expected to be around 21 million cubic feet of gas per day. Egdon holds a 10% interest in Ceres and net Egdon production after Backout (the allocation of Ceres gas to replace the production at the Mercury and Neptune fields which have been shut-in to allow Ceres production) is expected to be around 1.2 million cubic feet of gas per day (200 barrels of oil equivalent per day). Egdon also, following approval by the Department of Energy and Climate Change, reported the completion of the sale of a 10% interest in the Avington oil field under licence PEDL070, for a consideration of £400,000 in cash.
At long last reported the commencement of a 2D seismic survey of approximately 2,000 kms over its prospective oil and gas exploration blocks offshore Namibia. The survey will be carried out by TGS NOPEC. Global’s Namibian interests are held via its wholly owned subsidiary, Jupiter Petroleum (Namibia) Limited, and consist of an 85% participating interest in Petroleum Exploration Licence No. 0029, covering Offshore Blocks 1910B and 2010A (Figure 1). These blocks comprise an area of 11,700 square kilometers in water depths ranging from 1,200 meters to 3,000 meters.
Confirmed what the City of London already knew as it announced that it has successfully raised through Mirabaud Securities LLP gross proceeds of US$200,000.000 through a conditional oversubscribed placing of 91,120,000 new Common Shares of US$ 0.01 each in the Company at a placing price of 140 p per share.
Released 5 Rns’s this week; 1/UTS-4 confirmation well in the Uytas Field has reached a depth of 849 metres, with electric logs indicating 36 metres of potential net oil pay in the Cretaceous section at depths ranging from 30 to 158 metres, consisting of six sandstone reservoirs of excellent quality with porosities ranging from 25% to 35%. This includes 16 metres of potential net pay in the shallow Cretaceous section between depths of 30 and 57 metres, which were not evaluated in the UTS-2 well because the equivalent interval was not logged. Significant oil shows were recorded continuously from depths of 20 metres to 167 metres, which appear to confirm the oil column seen in the original UTS-1 discovery well. The Company cored the UTS-4 well over the interval from 24 metres to 47 metres to allow further study of reservoir properties within this vertical column, with results from the core analysis expected during the fourth quarter of 2011. Unloved Max also announced that it has commenced drilling the ZMA-A23 development well at the Zhana Makat Field in Block E. The total depth of the well will be approximately 900 metres targeting Jurassic reservoirs.
Announced the expected “piss poor”result of the Agnello #1 horizontal well in the Vintage Hills Prospect Unit. The Company has a 1% working interest in Vintage Hills, which is located within the established Giddings oil and gas field in Brazos County, Texas. During the initial 30-days of production, the well produced an average rate of 59 boed, with 35% of production being oil. This period included several days when the well was not producing due to equipment delays. The well has been producing an average rate of 87 boed over the last two days, with 43% of production being oil. However good news came re’ The initial well on the Verde prospect which is in the final stages of completion. Construction of production facilities has been completed and the pumping unit is being installed. Production is expected to commence within days and the Company will provide 30-day production figures when available.
Released its unaudited interim results for the six months ended 30 June 2011. Copies of which can be viewed by clicking the link. http://www.stockopedia.co.uk/share-prices/petrolatina-energy-LON:PELE/news/rns/110922pele7823o.htm/?title=half-yearly-report
Announced a further oil discovery. The operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, informed the market of another new oil field in Licence 61 at North Varyakhskaya.This the seventh oil field discovered in Licence 61. The North Varyakhskaya No. 1 well discovered oil in the main Upper Jurassic target with 2.2 metres of net oil pay confirmed in J1-1 intervalwith a further potential 2.5 metres of additional net pay in J1-2 interval requiring further testing.
Acknowledged an announcement by Realm Energy regarding their successful land acquisition in Spain for shale gas exploration. On August 26, 2011, San Leon announced that it had entered into agreement with Realm Energy pursuant to which San Leon will acquire all of the issued and outstanding shares of Realm Energy (the “Acquisition”) subject to, inter alia, approval by realm Energy shareholders. Realm has given notice that it intends to hold a special meeting on November 1, 2011 to seek shareholder approval for the Acquisition. Further information with respect to the Acquisition is available in the Company’s press release dated August 26, 2011, which can be viewed at San Leon’s website, www.sanleonenergy.com, or Realm Energy’s website, www.realmenergy.ca, or at www.sedar.com.
The independent oil and gas exploitation and production company with interests in California and Kansas, is pleased announced a share placing of 70,000,000 new common shares at a price of 2.0p per share. The gross proceeds of the Placing of £ 1.4 million will be used partly to acquire all the assets of a gas production and transportation company in Leavenworth Country, Kansas. These assets include a pipeline, which will represent the Company’s fourth such acquisition in the Forest City Basin in East Kansas, plus a number of existing wells where the new money will also fund a workover program to increase gas production substantially over the coming months, part of the proceeds will also be used to finance the drilling of new wells at the Tapia oil field in California which are expected to increase oil production significantly by year-end.
Crisis riven Urals went around the houses once again with their results of development Well #51 at Petrosakh, on the eastern coast of Sakhalin Island. The cold fact is that the well was Abandoned.