The Smallcap Oil & Gas round up.

Several of our researched success’s are mentioned this week. Urals Energy researched at 5p hit 12p now trading at 10.6p. Nighthawk researched at 6p hit 12.25p now trading at 10.25p and  Exillon Energy tipped at 98p hit 274p now trading at 259p!

A bit of a free one here for the chaps. Positions are being taken in the fight for the Urals Energy Crown. It’s going to get very dirty. One Russian wag thinks they’ll have to up the anti (Offer) if they want Urals!

Caza Oil & Gas (LON: CAZA)
The West Copperline 29 Fed #1H horizontal Bone Spring test well reached its intended total measured depth of approximately 15,035 feet in the 2nd Bone Spring Sand interval on October 11, 2013, and was subsequently fracture stimulated beginning on November 1, 2013. Under controlled flowback the producing rates have remained steady, and the well produced at a peak 24 hour gross rate of 800 barrels of oil and 1.21 million cubic feet of natural gas, which equates to 1,002 bbls of oil equivalent on November 15, 2013. The well continues to clean up and is producing on a 22/64ths adjustable choke at 1,835 pounds per square inch flowing tubing pressure. Caza currently has a 62.5% working interest (approx. 47.25% net revenue interest) in the West Copperline 29 Fed #1H well.

Chariot Oil & Gas (LON: CHAR)
Confirms that the Special Resolution proposed to shareholders at the EGM held on 21 November 2013 was duly passed. The Company’s Articles of Incorporation will now be amended and Chariot will no longer be prohibited from holding Board Meetings and General meetings of shareholders in the United Kingdom.

Exillon Energy (LON: EXI)
Notes the announcement by Flowdale Investments Limited, the ultimate beneficial owner of which is Mikhail Gutseriev, that states Flowdale holds 24,065,588 shares in Exillon, which represents approximately 14.9% of the Company’s issued share capital. The formal sale process that was described in the Company’s announcement dated 18 September 2013 is proceeding as planned. The acquisition of this 14.9% stake by Flowdale was undertaken without the knowledge or consent of the Board of Exillon.

Fastnet Oil & Gas (LON: FAST)
Notes that its partner in the Foum Assaka license, offshore Morocco, Kosmos Energy provided a Technical Update on its exploration assets on 14 November 2013. In its presentation to analysts and investors, Kosmos covered the Foum Assaka permit, offshore Morocco following its farm-out agreement with BP plc (LSE: BP) Kosmos indicated that well planning is underway at the Eagle-1 Well in the Foum Assaka Block, which is estimated to contain 360 mmboe of Pmean resources. The well is scheduled for drilling in Q1 2014 and will target lower Cretaceous reservoirs and multiple deepwater reservoir objectives with a planned target depth of 4,500 metres in water depth of 600 metres.

Forum Energy (LON: FEP)
Said yesterday that an agreement had been reached with the Philex group of companies to increase and extend the repayment date of the current loan facility which was provided to the Company’s wholly-owned subsidiary, Forum Philippines Holdings Limited in 2010. The US$15 million Facility, which was US$10 million when first announced on 24 November 2010, and has been fully drawn down, has now been increased to US$18 million. In addition, the repayment date for all amounts drawn under the Facility has been extended for three years to 24 November 2016. Terms of the Facility remain otherwise unchanged, with funds continuing to be borrowed at an interest rate of LIBOR + 4.5% and with Forum Energy remaining as the guarantor under the Facility.

Max Petroleum (LON: MXP)

Parkmead Group (LON: PMG)
Announces that a new gas field has been discovered in the UK Southern North Sea by the Pharos exploration well. Parkmead holds a 20% working interest in the new discovery at Pharos. The other joint venture partners are Dana Petroleum (operator), Dyas Exploration UK Limited, MPX North Sea Limited and Hansa Hydrocarbons Limited.

Petro Matad (LON: MATD)
Mongolian geophysical contracting company Khet Co., completed acquisition of 200 km of 2D seismic on Blocks IV and V on 19 November, 2013. Preliminary analysis indicates that initial brute stacks of seismic across the prospect area in Block V confirm the previous interpretation and subject to further processing are expected to result in the delineation of at least two prospective drilling locations for 2014. The initial brute stacks across the prospect area in Block IV shows the presence of a cross fault that indicates an additional trap closure in this area. In light of the encouraging result from the seismic acquisition, Petro Matad has contracted with Khet to acquire a further 30 kms of seismic to confirm this closure as a potential drilling prospect for 2014. his seismic will commence immediately and is anticipated to be completed within one to two weeks.

Range Resources (LON: RRL)
Peter Landau came out fighting this week shouting that he would like to? A/ Silence his detractors. b/Resign for failure? C/ Release a Guatemala Update and draw attention to the announcement released by Citation Resources Limited (ASX:CTR) with respect to the Company’s interest in Guatemala?

Solo Oil (LON:  SOLO)
Starts the infill seismic survey planned to assist in the appraisal of the Ntorya discovery and to finalise locations for future exploration drilling in the Ruvuma onshore Petroleum Sharing Agreement in Tanzania. The operator, Ndovu Resources Limited, a subsidiary of Aminex plc has indicated that a contract has been signed with AGS and that the survey will shortly commence with 2D seismic data intended to be collected at Ntorya and to support future exploration drilling.

Sound Oil (LON: SOU)
Updated on the Casa Tiberi onshore gas discovery in the Marche region, Central Italy. Following Board approval to develop the Casa Tiberi gas field, an Engineering, Procurement, Construction and Lease contract has been awarded to TESI Srl, a local company with proven experience in onshore processing plants in Italy. The contract is for a total of Euro 300,000 and involves the three month construction and subsequent lease of a production skid in anticipation of first gas from the field in early 2014. The plant will be based on modular skids with nitrogen used for both gas dehydration and as “service gas” providing an effective and extremely environmental friendly solution to deliver the gas to the local low pressure network.

Tullow Oil (LON: TLW)
Good news came today from TLW as the company announced that the Agete-1 exploration well in Block 13T, onshore Northern Kenya, has discovered and sampled moveable oil with an estimated 100 metres of net oil pay in good quality sandstone reservoirs. The Agete-1 wildcat well is part of a major exploration campaign and has made the fifth consecutive oil discovery in the first of a chain of multiple rift basins across Tullow’s acreage in the region. This discovery de-risks several follow-on prospects located to the north and is on trend with the Twiga South, Ekales, and Ngamia oil discoveries and adds to the significant resource base already discovered. The Sakson PR5 rig drilled Agete-1 to a total depth of 1,930 metres. Following completion of logging operations the well will be suspended for future flow testing which will confirm the net pay count. The rig will then move to drill the Ewoi-1 wildcat in the east of this basin, targeting a rift flank prospect similar to the recent Etuko oil discovery. Tullow operates the Agete-1 well with a 50% interest and Africa Oil (50%) has a non-operated interest.

Urals Energy (LON: UEN)
The independent exploration and production company with operations in Russia, released an Operational update, tanker loading and alleged debt repayment agreement update/RNS. You can read it by CLICKING HERE.

Wentworth Resources (LON: WRL)
Yet more dilution at Wentworth for private share-holders. This is after the company got off a Private Placement of 61,696,024 new Shares to raise USD 40.0 million in October last month. Now we get the euphemistically titled “Over Subscribed Offering” RNS which effectively dilutes by another 9,000,000 million shares on top of the 61 million already soaked up by PI’s. Yes a thumping 70% dilution. What’s the betting that there’s another dilution within the next 12 months?

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