Amerisur Resources (LON: AMER)
The oil and gas producer and explorer focused on South America, is pleased to announce an update on operations in Colombia and Paraguay. CLICK HERE
Aminex (LON: AEX)
Has signed a sale and purchase agreement for the sale of Aminex USA Inc. to Northcote Energy an AIM listed oil and gas company, and Springer Oil and Gas, a private company, for a total consideration of USD$5,000,000. Consideration from the sale of Aminex’s US portfolio of assets, which mainly comprise the Shoats Creek field in Louisiana and the Alta Loma field in Texas, will allow the Company to pay down part of its loan facility and provides further flexibility for working capital.
Borders & Southern (LON: BOR)
In April 2012 Borders & Southern made a significant gas condensate discovery with its first exploration well in the Falkland Islands. The discovery had a high condensate yield and a good quality reservoir. An initial scoping facilities study proposed an FPSO development, stripping out the liquids and re-injecting the gas back into the reservoir. Our phase 1 reservoir engineering study indicated that a mid case of 200 million barrels of liquids could be recovered from the discovery. Subsequent to this work, the Company has enhanced the seismic data with rock physics information derived from the Darwin East well and undertaken a more detailed phase 2 reservoir engineering study. Additionally, the 2008 seismic data has been reprocessed and merged with the new 2013 3D survey. Reprocessing of the 3D seismic has greatly improved the quality of the data. Resolution has been enhanced, amplitude mapping is sharper and fault definition has improved. This new data has confirmed our previous interpretation of the potential distribution of hydrocarbons over Darwin East and West. The phase 2 reservoir engineering study used a more detailed geological and petrophysical description of the reservoir, creating a 3D model in Petrel (The phase 1 study had used a simple layer cake model) and incorporated results from a laboratory revaporisation study and analysis from side wall cores. Our new base case model estimates a wet gas in place of 2.6 tcf and the recovered condensate of 263 million barrels. The increase in recovered condensate from our phase 1 model to the phase 2 model is attributed to improved net pore volume and an improvement in fluid recovery. New base case estimate of recoverable condensate of 263 million barrels is of course dependent on successful appraisal wells. However, this resource assessment only includes the reservoir interval encountered in the discovery well on Darwin East. Our seismic interpretation indicates that Darwin West is structurally higher than Darwin East and that two additional potential reservoir intervals below the main reservoir, each displaying amplitude conformance to structure, may be encountered. These additional potential reservoirs do not extend over the whole structure, but nevertheless could add further to the total recoverable resource depending on their thickness and quality.
Doriemos (LON: DOR) United Kingdom Oil & Gas (LON: UKOG) Solo Oil (LON: SOLO)
All three updated on the highly prospective Horse Hill prospect. Horse Hill Development Ltd, the operators of the Horse Hill Prospect in the Weald Basin near Gatwick Airport, have advised that site construction has now commenced for the proposed 8,512 feet Horse Hill-1 well. The well is expected to spud in July 2014 and is targeting a number of conventional stacked oil targets in Jurassic aged reservoirs and possible gas in the Triassic. After evaluating the Jurassic targets in the Portland sandstone, Corallian sandstone and Great Oolite limestone, the well is planned to be drilled to Triassic age formations in order to evaluate the potential, so far unexplored, for conventional gas within the Horse Hill structure.
Falcon Oil & Gas (LON: FOG)
Announces the appointment of Mr. Michael Gallagher as Chief Financial Officer (“CFO”) with immediate effect.
Global Petroleum (LON: GBP)
Tried to distance themselves from the Tower Resources (LON: TRP) duster this week. GBP noted the recent announcement by the partners in the Welwitschia-1A well of their decision to plug and abandon the well. The Welwitschia-1A well was drilled to a depth of 2,454m in Block 2011A, adjacent to Global’s Block 2010A in the Walvis Basin offshore northern Namibia. The Global technical management team wishes to make it clear that the geological setting of Global’s blocks 2010A and 1910B is distinct from that targeted by the partners in the Welwitschia-1A well. The great majority of the prospectivity in Global’s acreage is mapped in older sediments. These deeper structures were not reached by the Welwitschia-1A well. Therefore, the significant potential of these deeper traps and reservoirs remains to be tested. Don’t waste share-holder money. It’s a duster above and it’ will be a duster below.
Gulfsands Petroleum (LON: GPX)
Drilling operations within the Rharb Centre Permit in Northern Morocco using the COFOR SAS Cabot 750 rig have now recommenced with the drilling of the Lalla Yetou Updip-1 gas exploration well (“LTU-1”). The LTU-1 well location has been selected based upon interpretation of the Rharb 3D seismic survey data acquired by the Company during 2013. LTU-1 is designed to be drilled to a total vertical depth of approximately 1180 metres, and will evaluate predicted Miocene aged sandstone reservoirs contained within a fault bound structural closure that have been identified from 3D seismic data as having the potential to be gas bearing. LTU-1 is located up dip structurally from a previous well Lalla Yetou-3 that found gas bearing sands. The Company expects that drilling operations at LTU-1 will be completed within 28 days.
Independent Resources (LON: IRG)
Results for the fifteen months ended 31 December 2013. Click HERE to read.
Leni Gas & Oil (LON: LGO)
The third of its Goudron development wells, GY-666, was successfully spudded this week and is now drilling ahead. As with the previous two wells the third well in the planned 30 well redevelopment program is intended to test the Goudron, Gros Morne and Lower Cruse sandstones, all of which are known to be productive for oil in offset wells. The well is being drilled as a deviated hole with a maximum angle of 16 degrees from the same well pad as used for the recently drilled well GY-665. Well GY-665 will be completed as a Gros Morne producer once the Well Services Rig 20 is demobilized from the well pad. The reservoir pressure recorded at the Gros Morne in GY-665 is higher than that observed in the recently completed well GY-664 and this is likely to lead to improved production potential. Well GY-666 has a planned total depth of 3,700 feet true-vertical depth (“TVD”) (equivalent to 3,820 feet measured depth) to a bottom-hole location that is approximately 900 feet south-west of the surface location. The primary target of this well is the Gros Morne sandstones, the top of which are anticipated at a depth of approximately 2,100 feet TVD. Further announcements will be made once the main reservoir targets have been drilled.
Mosman Oil & Gas (LON: MSMN)
As predicted by YOURS TRULY! Wouldn’t you just know it? The third placing in a matter of months. MSMN raised circa £3,000,000 by way of the placing of 13,043,474 new ordinary shares in the capital of the Company at 23p per share.
Nostra Terra Oil & Gas (LON: NTOG)
The AIM quoted oil and gas producer with a growing portfolio of producing assets in the USA, announced results from two additional horizontal wells in the Chisholm Trail Prospect, located in Oklahoma. Click HERE TO READ IT. Click HERE to read todays RNS
President Energy (LON: PPC)
Has spud the Jacaranda 1 well, the first deep exploration well drilled in Paraguayan Chaco for almost 30 years. The Jacaranda prospect will test the potential double play system (Cretaceous and Palaeozoic) in the North West Flank of the Pirity Concession, Paraguay. The well is designed to drill multiple independent reservoir targets. Total gross mean prospective resources of 624 mmboe are being targeted. The well is anticipated to be drilled to a depth of 4200 metres and is expected to take approximately 70 days to drill. A further update will be given after reaching the targeted depth.
Range Resources (LON: RRL)
Rorys stories continued this week. A Trinidad Operations Update and Increase in Reserves. Click HERE
Tethys Petroleum (LON: TPL)
Following on from the recently announced Kazakh State Reserves Committee approval, today confirmed that it has received approval from the Ministry of Oil & Gas of the Republic of Kazakhstan for the extension its Kyzyloi Production Contract for a further 15 years to June 2029.
Wentworth Resources (LON: WRL)
Drilling operations have commenced on the Tembo-1 well in the Rovuma Onshore Concession in northern Mozambique. Wentworth has an 11.59% net interest in this well which is being operated by Anadarko and drilled with the Helmerich & Payne rig #243. The Tembo-1 well is targeting mid-Cretaceous sands with secondary targets in the upper Jurassic. Tembo-1 has a planned total depth of 4,250 meters True Vertical Depth Sub Sea and is expected to take between 60 and 90 days to complete. An update on drilling operations will be provided after drilling operations have been fully completed. To date there have been two wells drilled in the Rovuma Onshore Concession including the Mocimboa-1 well, which encountered oil and natural gas shows in the Cretaceous and is located approximately 17 kilometres to the northeast of the Tembo-1 well.