Oilbarrel Newsletter 18th July 2012

Oilbarrel Weekly Roundup 11th - 18th July 2012 Weekly Review Last minute pull outs are now becoming part of the territory for Oilbarrel.com conferences. Oil executives diaries are becoming increasingly full and the demands on them ever more intense as  the E & P oil and gas sector expands exponentially and grows more complicated. Rialto Energy has had to withdraw from our gathering on Thursday (tomorrow), but they hope to present in the Autumn. Replacing them is Aminex plc a long term favourite with Oilbarrel regular conference attendees, in part because of the witty presentations by the former executive chairman Brian Hall.  While Brian remains at on the Board of Aminex, speaking this time will be Stuard Detmer, the new CEO. Stuard was previously CEO of Sibir Energy plc, where he led the company out of crisis and concluded its successful sale to Gazprom. London listed Aminex led the current East African exploration boom, drilling its first well in Tanzania in 2004. It now has two gas discoveries and an inventory of multi-TCF prospects still to drill. I think you will agree with me that Aminex tops up one of the most exciting line ups of presenting companies we have had for some time. Next on to the rostrum after Stuard, who is opening the batting, will be the new CEO of Tower Resources Graeme Thomson. He will be no stranger to long standing Oilbarrel delegates. He 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 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.  We then have another newcomer in Mercom Oil Sands who 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 be 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. So there is mixture of the old and 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 (registration 09.00) and is followed by a buffet luncheon. Registration is open 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: Aminex Plc Tower Resources Petroceltic International Mercom Oil Sands Fastnet Oil & Gas Oxford Catalysts Please note that this is not the speaker order Click Here to Register or contact support@oilbarrel.com Latest News News: July 18, 2012 Petroleum Geo-Services Ups 2012 Earnings Guidance As Its State-Of-The-Art Seismic Vessels Aid Search For Oil In New Frontiers You can usually tell the health of the oil and gas industry by the health of the companies that service it.  And judging by the anticipated Q2 earnings of Norwegian seismic giant PGS, the industry is in rude health, with the Oslo-headquartered group hoping to report results later this month “significantly better” than current market expectations. Full story... News: July 17, 2012 Bridge Energy’s Busy 2012/13 Drill Programme Should Rapidly Add Production and Reserves Operating in the North Sea on both sides of the UK/Norway Meridian line, Oslo listed Bridge Energy is pursuing an aggressive expansion strategy targeting net output in excess of 12,000 boepd by the end of 2016 through existing field development and acquisition.  The majority of current production comes from the Victoria field, and supplemented by output from Duart and its newly acquired Boa interest.  However, a 9 well development programme in 2012/2013, together with the development of Victoria II, Vulcan East and Vulcan NW is expected to bring major output increases from 2013 onwards. Full story... News: July 16, 2012 Melrose Resources Reaffirms That It Is On Track To Meet Its Solid Production Targets The latest operations update from Melrose Resources is not as wide-ranging as some we have seen from them in the past, but it does reinforce an interim management statement of last May that Melrose was on track to meet its solid production targets. This means it should manage output of 28,000 boepd in output for 2012 on a working interest basis.  This would be comfortably higher than what seemed possible when the company reported at the beginning of the year that the 2012 totals could be underwhelming because of the divestment of assets n the US and production wobbles in Egypt. Full story... News: July 16, 2012 Shell And PTTEP Take Their Battle For Cove Energy To The Line Shares in Cove Energy continue to rise as Shell and PTTEP continue to battle for control of the AIM-quoted explorer.  On Friday the share price was standing at an astonishing 276 pence as the UK Take Over Panel ordered a sealed bid auction to start on Tuesday, far in excess of Shell’s recommended cash offer of 220 pence, published on May 2, and PTTEP’s offer of 240 pence of May 23. Full story... News: July 12, 2012 Rockhopper Exploration Nets Premier Oil For Falklands Island Exploration And Development It’s farm-in season in the Falkland Islands.  Just last month Falklands Oil & Gas, which is preparing for a high impact drilling campaign on its licences to the south and east of the islands, completed its farm-out to Edison, part of French utility giant EDF, a real coup for the AIM-quoted wildcatter.  Now Rockhopper Oil & Gas, to date the most successful operator in Falklands waters following on from its breakthrough Sea Lion discovery of 2010, has agreed to farm-out 60 per cent of its acreage in the North Falkland Basin to London E&P stalwart Premier Oil. Full story... News: July 12, 2012 AIM Newcomer Mercom Oil Sands Punches Above Its Weight In Canada’s Giant Athabasca Oil Sands Mercom Oil Sands, which is due to present at next week’s oilbarrel.com conference in London, is something rather different amid the exploration and production companies that make up AIM’s oil sector.  The AIM newbie, which raised £3.35 million at its May IPO, offers investors pure exposure to Canada’s booming oil sands industry through its 50 per cent stake in four oil sands leases in north eastern Alberta. Full story... 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... Press releases   July 18, 2012 - Edge Resources Land Acquisition and Appointment of New... July 18, 2012 - Roxi Petroleum Plc Operational Update July 18, 2012 - Tullow Oil plc Well Update - Ghana July 18, 2012 - Dragon Oil Drilling Update July 18, 2012 - Leni Gas & Oil Plc Spanish Divestment July 18, 2012 - San Leon Energy Director Dealing July 18, 2012 - Fastnet Oil & Gas July 18, 2012 - Rialto Energy Ltd Drill Stem Testing of Gazelle-P3 ST2 Update July 17, 2012 - Petroceltic International Holding(s) in Company July 17, 2012 - Northern Petroleum Plc Second Well Follows Guyane Oil Discovery July 17, 2012 - Cove Energy Plc Form 8.3 - Cove Energy Plc July 17, 2012 - Gold Oil Plc Colombia Operations Update July 17, 2012 - Dragon oil Transaction in Own Shares July 17, 2012 - Edge Resources Land Acquisition and Appointment of New... July 17, 2012 - Silvermere Energy PLC Operations Update July 17, 2012 - Range Resources Investor Q&A July 17, 2012 - Petroleum Geo Services PGS Q2 2012 Earnings Update: Excellent... July 17, 2012 - San Leon Energy Successful completion of Szymkowo-1 well July 17, 2012 - Norwest Energy NL Arrowsmith 2 Update July 17, 2012 - Neon Energy Ltd Successful Appraisal of Paloma Discoveries July 16, 2012 - Renewable Energy Holdings Re Carnegie landmark wave energy agreement July 16, 2012 - Green Dragon Gas Appointment of Broker July 16, 2012 - Beach Energy Beach and Icon to accelerate... July 16, 2012 - Jupiter Energy Limited Second Quarterly Update July 16, 2012 - Sound Oil PLC Funding Update July 16, 2012 - San Leon Energy Spud of Lelechów-SL1 Well July 16, 2012 - Max Petroleum Drilling Update July 16, 2012 - President Petroleum Pending Licence Awards July 16, 2012 - JKX Oil & Gas Directorate Change July 16, 2012 - Wentworth Resources Offer Update July 16, 2012 - Dragon Oil Update on Bargou Exploration Permit, Tunisia July 13, 2012 - Wessex Exploration Directorate Change & Grant of Options July 13, 2012 - IGas Plc Director/PDMR Shareholding July 13, 2012 - Bayfield Energy Operational Update July 13, 2012 - Renewable Energy Disposal of Shareholding in Carnegie Wave... July 12, 2012 - Atwood Oceanics Atwood Oceanics Announces Contract For The... July 12, 2012 - Dragon Oil Transaction in Own Shares July 12, 2012 - Rockhopper Exploration Farm-out agreement signed with Premier Oil... July 12, 2012 - Exillon Energy Commissioning of Transneft Entry Point July 12, 2012 - Matra Petroleum 2D and 3D Seismic Survey Commissioned July 12, 2012 - Premier Oil Trading and Operations update July 12, 2012 - Premier Oil Farm-out agreement signed with Premier Oil... July 12, 2012 - Wessex Exploration Holding(s) in Company July 12, 2012 - Magnolia Petroleum Placing to raise GBP565,000 and EFF July 12, 2012 - Green Dragon Gas Result of AGM July 12, 2012 - Ceramic Fuel Cells Shareholder update July 12, 2012 - IGas Plc Director/PDMR Shareholding July 11, 2012 - Wasabi Energy Posting of Offer Document Don't forget to visit our other website

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