Oilbarrel Newsletter 11th July 2012

Oilbarrel Weekly Roundup 5th - 11th July 2012 Weekly Review There is no point in pretending that it has not been a turbulent summer for Oilbarrel.com so far. As Rivington Street Holdings, the ultimate owner of OiIbarrel, underwent reorganisation, various assets were put on sale in an attempt to rationalise.  An agreement was reached that Athol Gold and Value, an AIM listed cash shell, would buy the profit making Oilbarrel which incorporates MiInesite.com. The takeover unravelled and Oilbarrel remains part of RSH, which is under new management. Tom Winnifrith, has resigned from the board of RSH and is no longer an employee of the company.  By extension, he and his colleagues on the Isle of Man who were involved in running Oilbarrel no longer have any involvement in, or influence on, Oilbarrel. The upheaval at RSH did cause disruption. In particular we were forced to cancel the June conference. The first task of the new management of Oilbarrel, well, the old management really –myself, our dedicated editorial team plus a new sales director – was to make sure the July conference took place. I think you will agree with me that we have rebounded with a bang, as they say. We have a very strong Card of diverse and interesting companies on July 19.  AIM newcomer Fastnet Oil & Gas is focused on early stage E&P opportunities in Ireland’s Celtic Sea and Africa. The company, which is also listed in Dublin, counts Cove Energy boss John Craven as a founding shareholder. Next on to the rostrum will be the new CEO of Tower Resources Graeme Thomson. He will be no stranger to long standing Oilbarrel delegates. Graeme used to present at our conferences when he was with Sterling Energy. Having relinquished its position in Uganda, Tower Resources is targeting high impact exploration opportunities offshore Namibia and in the Sahawari Democratic Republic.   The company is listed on AIM. Tower will be followed by a first timer to Oilbarrel, which is an alternative energy group. AIM-quoted Oxford Catalysts is developing technology to produce clean synthetic fuel. The company, which has facilities in Oxford and Ohio, is targeting the production of synthetic oil from waste gas, stranded gas, waste biomass and coal. After the coffee break we have another newcomer. Mercom Oil Sands is developing the Chard oil sands leases in Alberta, Canada, using in-situ extraction technology.  The AIM start-up hopes to begin pilot production within 18 months. Mercom will followed by a company which has presented regularly over the years. Dublin-headquartered Petroceltic International has interests in Italy, Algeria and Kurdistan.  First gas from its giant Ain Tsila gas-condensate field in Algeria is expected in 2017. Finally, there is third new presenter. Rialto Energy, which is listed on the ASX and AIM, operates the CI-202 block in the Cote d’Ivoire, where it is developing the Gazelle field. The Perth-headquartered company also has interests in Australia’s Carnarvon Basin and Ghana. So there is a mixture of the old, the familiar and the new, each with an intriguing investment story to tell. The conference is again at Merchant Taylors Hall, 30 Threadneedle Street, London EC2R 8JB. It runs from 9.30 to 1 o’clock and is followed by a buffet luncheon. Registration is open, so please go to the website to get your name down. Stewart Dalby 53rd Oilbarrel Forum Thursday 19th July 2012 Sponsored By: Thursday 19th July 2012 Merchant Taylors Hall 30 Threadneedle Street London, EC2R 8BJ Presenting Companies Include: Rialto Energy Tower Resources Petroceltic International Mercom Oil Sands Fastnet Oil & Gas Oxford Catalysts Click Here to Register or contact support@oilbarrel.com Latest News News: July 11, 2012 Cadogan Petroleum Bags ENI As Partner In Hunt For Shale Gas In Ukraine Shale gas in Europe may be off to a slow start with fracking banned in some countries and initial drilling results underwhelming investors; just last month ExxonMobil pulled out of Poland after its first two wells there failed to convince the US heavyweight of the commercial viability of the Polish shales.  As shale enthusiasts point out, it is still very early days in Europe and many industry big-hitters are sticking with the game, among them ConocoPhillips and Talisman Energy in Poland and Shell and Chevron in Ukraine.  Last month Italian energy giant ENI joined the hunt, signing an agreement to join London-listed Cadogan Petroleum on a shale gas exploration project in the Lviv Basin of Ukraine. Full story... News: July 11, 2012 Canadian Edge Resources, A Low Cost/ Low Risk Producer With Outsize Reserves, Dual Lists On London’s AIM It is not unusual, particularly in the US and Canada, to find many companies which eschew costly exploration and concentrate on bringing on inexpensive, low risk, known hydrocarbon deposits. They may not hit the jackpot in one sense but by steadily developing wells which produce mostly modest amounts each, they can quickly build up production and become a cash cow and give a good return to patient investors without the loss of sleep that can go with backing frontier exploration Full story... News: July 10, 2012 Coastal Energy Set To Extend Its Small Fields Expertise To Malaysia Through Risk Contract With Petronas In 2005 Coastal Energy’s forerunner took on ex-Premier Oil acreage in the Gulf of Thailand, where the London-listed company had walked away from a series of marginal oil discoveries.  Coastal saw the opportunity to develop these discoveries and tap into the significant undrilled upside across the acreage and set about building a low-overhead, highly flexible offshore E&P business.  It has been a highly successful business model: today the Houston-headquartered company has three offshore fields in production, 2P reserves of 109 million barrels of oil equivalent, production of over 22,000 boepd and a market cap approaching £1 billion. Full story... News: July 10, 2012 Strategic Oil & Gas Aims To Exit 2012 With Production Of 3,000 Boe/d Headquartered, and operating, in Alberta Canada, Strategic Oil and Gas is exploiting the local light oil opportunities through its producing Steen River licence, while doing the ground work for reserve growth at its Maxhamish and Amber plays.  The company had a total of 178,000 net acres of land and 2P reserves of 5.2 MMboe at the end of 2011. Full story... News: July 09, 2012 Providence Resources Gains As Broker Says Barryroe Could Be A Billion Barrel Oilfield Shares in AIM-quoted Providence Resources surged 41.5 pence, or 7.75 per cent, to 577.5 pence on Friday after analysts at Liberum Capital estimated its Barryroe oilfield offshore Ireland, the first commercial oil strike in Irish waters, could hold one billion barrels of oil-in-place with than 160 million barrels of recoverable oil.  This is three times current market expectations and, says the broker, points to significant share price upside.  Joint venture partner Lansdowne Oil & Gas, which has a 20 per cent stake to Providence’s 80 per cent, also gained more than seven per cent to stand at 46 pence. Full story... News: July 09, 2012 Global Energy Development Looks To Boost Output from Its Colombia Acreage Using New Heavy Oil Technology Global Energy Development is a London Aim listed junior focused on Latin America. Six months ago Anna Williams –- who was then Director of Business Development and is now FCO--  together with Stephen Voss, the group’s CEO came to London and explained how they intended to re-invigorate the company. Full story... Market Overview: July 06, 2012 Oil Companies HopeThat A String Of Solid Profits Reports Will Give A Boost To Oil Prices In The Second Half Of 2012 As we start the second half of the year, many oil companies will be delivering solid profits and many economies will be hoping for a brighter few months ahead. In early trade on Friday, Brent Crude was back below US$100 with WTI trading on the American market below US$87 a barrel. Full story... News: July 05, 2012 San Leon Energy Targets Conventional Oil As Market Appetite For Polish Shale Gas Wanes Shares in San Leon Energy have ticked up over the past two weeks, bolstered by the positive result from its Siciny-2 shale and tight gas well and news that it is embarking on a two-well campaign targeting conventional oil in Poland.  This good news counters what has otherwise been a difficult year as the market became disenchanted with the AIM company’s shale gas ambitions in Poland, even though its three shale wells there have all encountered gas shows though the target shales and have yet to be tested Full story... Press releases   July 11, 2012 - Wasabi Energy Posting of Offer Document July 11, 2012 - IGas Plc Directorate Change July 11, 2012 - Enteq Upstream PLC Director Declaration July 10, 2012 - Dragon Oil Transaction in Own Shares July 10, 2012 - Rockhopper Exploration Posting of 2012 Annual Report July 10, 2012 - Ascent Resources Peneszlek Operational Update July 10, 2012 - Leni Gas & Oil Plc Goudron Field Update July 10, 2012 - Beach Energy Cooper Basin - Encounter-1, Tanzania... July 10, 2012 - Sound Oil PLC Operations Update July 09, 2012 - Central Petroleum Ltd MDs Letter to Shareholders and Notice of... July 09, 2012 - Melrose Resources plc Operational Update July 09, 2012 - SacOil Holdings Ltd Business Update July 09, 2012 - Dragon Oil Transaction in Own Shares July 09, 2012 - Trap Oil Group Appointment of Joint Broker July 09, 2012 - Victoria Oil & Gas Plc Continuous Production Operations at Logbaba July 09, 2012 - Soco International Plc Second Te Giac Trang Platform Commences... July 09, 2012 - JKX Oil & Gas Koshekhablskoye Field Update July 09, 2012 - Silvermere Energy PLC Operations Update July 09, 2012 - Geopark Holdings Ltd Colombia Operational Update July 09, 2012 - Tethys Petroleum Limited Tethys Petroleum Limited: New Director... July 09, 2012 - Ithaca Energy Inc Hurricane Appraisal Well Commences July 09, 2012 - Petroceltic International Holding(s) in Company July 06, 2012 - Northern Petroleum Plc July 06, 2012 - Dragon Oil Transaction in Own Shares July 06, 2012 - Coastal Energy Co Update of Normal Course Issuer Bid July 06, 2012 - Coastal Energy Co Small Field Risk Service Contract July 06, 2012 - Xtract Energy Plc Directorate Change July 06, 2012 - PA Resources UK Limited PA Resources’ Production Report for Q2, 2012 July 06, 2012 - San Leon Energy Award of Czersk Concession July 05, 2012 - Quadrise Fuels International Central & South America July 05, 2012 - Matra Petroleum Change of Adviser July 05, 2012 - Dragon Oil Transaction in Own Shares July 05, 2012 - Xcite Energy Resources Limited Exercise of Warrants July 05, 2012 - Genel Energy Operational Update July 05, 2012 - Edge Resources Inc First Day of Dealings July 05, 2012 - Petroceltic International Award of two Licences offshore Italy July 05, 2012 - Aurelian Oil & Gas Operational Update     Don't forget to visit our other website

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