Struck oil this week at their high impact Simrit-2 exploration well, located on the Ain Sifni PSC in the Kurdistan region of Iraq. Afren announced a significant oil accumulation based on the results of drilling, wireline logs and sidewall core sampling. Preliminary analysis of data collected during drilling indicates that the well has encountered an estimated 409 m of net oil. There are continuing strong hydrocarbon shows to the current depth of 3700 m, Afren and operator Hunt Oil Middle East plan to run casing at the current depth and continue drilling to a new total depth of circa 3,800 m to test additional zones of prospectivity. Afren has a 20 per cent. interest in the Ain Sifni PSC and is partnered by Hunt Oil Middle East (60 per cent. and operator) and the Kurdistan Regional Government (20 per cent.).
The AIM listed European oil and gas exploration and production company, said this morning that PetroHungaria, in which it has a 48.3% interest, has completed the drilling of the PEN-105A sidetrack in the Penészlek Project in Eastern Hungary. Results of the well have exceeded management’s expectations and are better than the original PEN-105 well with approximately 20m of gas bearing formations drilled in the targeted Miocene volcanicastic reservoirs.
Chariot Oil & Gas;
The Africa focused oil and gas exploration company, announced yesterday that its Annual Report and Accounts for the ten months to 31 December 2011 is has been posted to shareholders. The Annual General Meeting will be held at Ground Floor, Regency Court, Glategny Esplanade, St Peter Port, Guernsey GY1 1WW on Monday 21 May 2012 at 13:00. A notice of this meeting is also being posted to shareholders and copies of this and the Annual Report are available on Chariot’s website www.chariotoilandgas.com
Announced the findings of a recently completed independent update to the Competent Person’s Report issued by Senergy Limited in October 2011. The update covers the results of the farm-in well 14/15-4a in licence PL004b within Tranche D, relating to the Sea Lion Extension, Casper, Casper South (Shona) and Beverley prospects, which were identified pre-drill and described in the initial October 2011 CPR. All of the prospects were found to be hydrocarbon bearing, with a gross reservoir column of 89 metres and a total net pay of 57 metres. Following the completion of this well Desire has a 40% interest in PL004b with Rockhopper Exploration plc having a 60% interest. Drilling has confirmed the pre-drill interpretation of multiple hydrocarbon-bearing reservoirs in the mapped prospects…Reservoirs appear to be in pressure communication with common fluid contacts…Mean estimate contingent oil resources net to Desire of 85 MMstb…Mean estimate contingent gas resources net to Desire of 178 bcf.
Announced that it has accepted a committed offer from Macquarie Bank to provide a 3 year term debt facility for up to US$50 million to support its participation in the development of the Sugarloaf Project, an Eagle Ford Shale Condensate and Gas development project in onshore Texas, USA.
Europa Oil & Gas;
Announces its interim results for the six month period ended 31 January 2012. Copies of which can be viewed by clicking the link. http://www.europaoil.com/investors/reports–presentations/2012-interim-accounts.aspx
Has now completed the processing and interpretation of the 3D marine seismic Erika North and South surveys. An independent Competent Person’s Report has been received from DeGolyer and MacNaughton which provides new volume and valuation estimates for twelve prospects identified by Gold Oil on the block. The mean prospective resources certified by D&M total a combined 2.02 billion barrels of oil with a mean potential net present value of US$ 2.6 billion,
Confirmed the arrival of the BW Athena floating production, storage and offloading (FPSO) vessel on location at the Athena field in the North Sea. The FPSO has been connected to the “STP” mooring buoy and hook-up and infield commissioning activities are ongoing. The next announcement is expected to come when first oil from the field is delivered.
It’s been a fantastic Month so far for Matra as the company issued a notice to shareholders that an Extraordinary General Meeting will be held at the offices of SGH Martineau LLP at 5th Floor, One America Square, Crosswall, London EC3N 2SG on the 9th May 2012 at 11 am.Full details of the EGM are being mailed today to shareholders and are also available on the Company’s website at www.matrapetroleum.com See you there.
The oil and gas exploration and production company focused on Kazakhstan, is pleased to announce an update on production test results and development plans for its Uytas Field. http://www.rns-pdf.londonstockexchange.com/rns/3504B_-2012-4-13.pdf
New World Oil & Gas;
Completed a farm out agreement with Danica Resources, to acquire an initial 12.5% working interest in what it believes to be a highly prospective licence in Denmark. The deal gives New World the option to increase its interest in the 6,420 sq km Licence 1/08 to 80% by meeting a series of commitments. The acreage includes both onshore and offshore acreage in Southern Denmark in the productive Western Baltic region of the South Permian Basin. Under the terms of the farm out, New World will assume operatorship of the licence. Earlier this year, New World announced the positive results of a Competent Persons Report carried out by RPS Energy on the concession, that indicated that the already identified Als Prospect has P50 resources of 97 million barrels of oil and 1.401 TCF of gas.Under the terms of the farm out, permitting, acquisition, processing and interpretation of 150km of 2D seismic will have to be by the end of the third quarter of 2012 in order for New World to secure the initial 12.5% stake.
Confirmed that the drilling plan at its Bale Creek prospect in Oklahoma had been accelerated. Nostra Terra holds a 30% working interest in Bale Creek, where a decision has been made to accelerate the drilling of the horizontal wells in Phase I. Three horizontal well locations in Phase I have already been spaced and pooled. While the first horizontal well is being drilled, the pad for the next horizontal well is being constructed and the rig contract has been extended, such that the rig will remain on the lease for the second horizontal well, where drilling will commence immediately following completion of the prior well. Following Phase I, there are four additional potential horizontal well locations in Phase II.
The Parkmead Group;
Chaired by ex-Dana Petroleum boss Tom Cross, said this week that drilling work had started on an appraisal well on the Platypus gas field in the UK Southern North Sea.
Nerves were jangling at President Petroleum this week in light of the Argentinian Governments asset grab relating to YPF which the company said were “completely unrelated to President.” President remains fully committed to operating in Argentina and is very pleased to be actively working in the country and making significant investments. President and its partner continue in the normal professional way to work constructively with the Salta Province in relation to the expeditious developing of their hydrocarbon assets in the region. President looks forward to providing further updates on operational progress in due course. Dodgy very dodgy!
Reported that initial analysis of its new acreage in the Slyne Basin off the west coast of Ireland, has shown exciting gas potential. Licensing Option 11/12 is located in c. 300 metre water depth in the Slyne Basin, approximately70km offshore and was awarded as part of the 2011 Atlantic Margin Licensing Round. The initial technical evaluation of the licence has revealed the presence of the “Kylemore” and “Shannon” prospects which are similar in age to the nearby Corrib gas field. Providence (66.66%) operates LO 11/12 on behalf of its partner First Oil Expro Ltd (33.33%).
Came out slugging this week as its share-price continued to fall. Range is aware of negative statements and commentary being circulated in respect of progress with the Shabeel-1 well currently being drilled in Puntland by the Company’s Joint Venture Operator, Horn. The Company wishes to confirm that the well has not yet reached depths targeting the primary reservoir and refers investors to the drilling update released to the market on 12 April 2012.
At long last some much needed good news from the Russian focused oil & gas exploration and production company, as Urals announced that development drilling operations at Petrosakh, located on the east coast of Sakhalin Island, have recommenced with the drilling of Well # 41 and an operational update. The full Operational Update can be viewed here. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11181049
Updated to the market in respect of the current drilling operations & the Bentley Phase 1A work programme. As previously announced, the well was spudded on 18 March 2012, with 20 inch casing now having been set down to approximately 2000ft below the rotary table. Preparations are being made to set the blow out preventer and to continue the drilling of the 17.5 inch hole. Following the successful completion of the 9/03b-6 and 6Z wells (as announced in December 2010), the Company has invested significant resources designing and engineering the next phases in the development of the Bentley field, the Phase 1A and Phase 1B work programmes.