Oilbarrel Newsletter 15th August 2012

Oilbarrel Weekly Roundup 8th - 15th August 2012 54th Oilbarrel Forum Thursday 13th September 2012 Sponsored By: Thursday 13th September 2012 Merchant Taylors Hall 30 Threadneedle Street London, EC2R 8BJ SAVE THE DATE Click Here to Register or contact support@oilbarrel.com Commodities Week London 2012 World Commodities Week Europe 2012 24th - 25th October 2012 08:00 - 18:00 London, UK World Commodities Week Europe is now in its 8th year and brings institutional investors together with both passive and active commodity vehicles as well as industry-leading analysts to explore the outlook for this asset class, as well as redefine the role commodities should play in investor portfolios. 2nd Oil & Gas Investor Summint Asia 2012 2nd Oil & Gas Investor Summit Asia 2012  Supported by the Singapore Exchange (SGX) and as the only event in Asia focused exclusively on matchmaking globally sourced independent oil and gas exploration and production companies with Asian investors and buyers, the Oil & Gas Investor Summit Asia provides a unique platform for capital raising and high growth energy investment. Click here for more info. Oilbarrel subscribers enjoy 20% discount off published fee; quote the discount code “661OBR20D” during registration. Contact Beacon at +852 2219 0111 or info@beaconevents.com for enquiries and registration.  Latest News News: August 15, 2012 The Parkmead Group Closes €7.5 Million Acquisition Of Onshore Dutch Assets Another month another acquisition for The Parkmead Group.  The Aberdeen-headquartered company headed by Tom Cross, the multi-millionaire ex-CEO of Dana Petroleum, has completed its €7.5 million purchase of a series of interests in oil and gas fields in The Netherlands.  This is an important step for Parkmead, delivering maiden gas production within a year of the management team being assembled.  Although modest – Parkmead’s share of production is around 300 barrels of oil equivalent per day – it is a signal of what can be achieved when a company has the capital to attract talent and make deals. Full story... News: August 15, 2012 Wessex Exploration Declines Total’s Offer To Take Its Chances Alongside The Majors In Guyane The excitement generated back in March from Total’s takeover offer for Wessex Exploration has since receded given the expiration of the offer period and Wessex’s view that it undervalues the company.  10p per Wessex share, which represented a 48 per cent premium to the pre-offer price, was not an unreasonable opening offer, but with no follow up offer and with the company having raised £12 million back in November, the approach was declined. Full story... News: August 14, 2012 Petroceltic International Passes Key Milestone In Algeria As Ain Tsila Heads Towards First Gas In 2017 Shares in Dublin’s Petroceltic International gained five per cent in morning trading on last week when the AIM-quoted explorer confirmed that its giant Ain Tsila gas-condensate discovery in Algeria had passed a key milestone to monetization, with a Formal Declaration of Commerciality.  This is important because it means the parties have agreed pricing terms with Algerian energy giant Sonatrach, known to be a tough negotiator, thereby derisking the project and paving the way for Petroceltic to bring in another farm-in partner and secure financing for its share of the field development. Full story... News: August 14, 2012 Rialto Energy Focusing On Expediting Cash Flow Through Gazelle Platform Development Venturing overseas has achieved mixed results for Australian explorer Rialto Energy.  Operationally, the company’s assets in the Cote D’Ivoire are nearing the important milestone of production, yet its April listing on AIM has seen the share price drift down to half its opening level as investors responded negatively to the company’s drilling challenges. Full story... Features: August 13, 2012 Poweralternatives:Renewable Energy Supplier Good Energy Makes Strong Debut On AIM The “on hold” music that plays while you wait to be connected to Juliet Davenport, CEO of AIM newcomer Good Energy Group, is the first sign that this company is a little bit different.  The soothing sounds of the English countryside make a welcome change from the usual muzak.  The soundtrack, resplendent with birdsong and recorded by an employee, is a good fit for a green energy company that in its first fundraising, in 2002, was supported by its customers to the tune of £600,000.  It’s hard to imagine customers digging deep to raise funds for any of the much-maligned Big Six energy companies.  It seems Good Energy has the kind of customer loyalty that brand executives dream about - and the Wiltshire-based company managed it within just two years of trading (over the years, it has raised about £2.7 million from its customers).  During those early y Full story... News: August 13, 2012 Simba Energy Makes Good Progress With Its Frontier Projects Across Africa Simba Energy has come along way since it presented at an oilbarrel.com conference in 2010.  Two years ago the TSX-Venture-listed start-up joined the oil rush in Africa by securing the first hydrocarbon reconnaissance licence in Liberia, a 1,366 sq km block that covers the entire onshore extent of the Roberts-Bassa Basin.  This is untested territory, without a single well or seismic line, although there are extensive oil seeps. Full story... Market Overview: August 10, 2012 China’s Relative Slowdown Reduces Oil Demand, But Hurricane Season Should See Higher Prices There was a sense of calm-before-the-storm in recent weeks, but a greater than expected draw on fuel supply in America midweek sent oil prices back to a three month high. Thousands of miles away on the edge of Europe, the acknowledgement of falling production of oil in the North Sea added to the volatility. In early trading on Friday, the price declined from mid week highs with Brent crude hovering above US$112 with WTI over US$92 a barrel. Full story... News: August 09, 2012 ExxonMobil May Have Gone But The Latest Updates From Poland Show Conventional And Shale Drillers Are Making Progress The buzz surrounding Polish shale gas may have dissipated over the past year as unconvincing early drilling results and ExxonMobil’s abrupt and high profile exit have dented initial industry enthusiasm for this new and untested play.  But a souring of sentiment doesn’t mean this play is dead in the water.  Far from it.  Polish shale believers remain excited about the potential and believe drilling results are going to get better and better as the first mover players get to grips with the geology. Full story... News: August 09, 2012 Senex Energy Announces Record Oil Production While Drilling Of Unconventional Gas Targets Accelerates Look at Senex Energy’s portfolio segments individually and its conventional oil, unconventional gas and, to a lesser extent, coal seam gas assets would represent exciting stand alone propositions for any medium sized petroleum company.  Bring them together under one umbrella and you have the current and future components to supply an ever increasing domestic demand or indeed for export. Full story... News: August 08, 2012 CBM Asia Development Confirms Gas Sweet Spot Next To BP’s CBM-To-LNG Project In Indonesia More good news for Canada’s CBM Asia Development Corp as it lays the groundwork for pilot production from its Kutai West coal bed methane project in East Kalimantan, Indonesia.  The TSX Venture-quoted company has an 18 per cent working interest in the Newton Energy Capital-operated project, which has the enviable advantage of being next door to the Sanga Sanga PSC where for the past year BP, ENI and VICO have been exporting CBM for LNG shipment into northern Asia. Full story.. Press releases August 15, 2012 - Europa Oil & Gas Major Increase in Full Year Production and... August 15, 2012 - Kea Petroleum Successful Puka 1 Test Results August 15, 2012 - Dragon Oil Transaction in Own Shares August 15, 2012 - Maple Energy FIRST EXPORT SALE AND ETHANOL BUSINESS... August 15, 2012 - Tethys Petroleum Tethys Petroleum Limited: Second Quarter... August 15, 2012 - Oilex Ltd Update on Trading in Entitlements on AIM August 15, 2012 - Petroceltic International Board Changes August 15, 2012 - Cadogan Petroleum Plc Holding(s) in Company August 15, 2012 - Roxi Petroleum Plc Operational update August 15, 2012 - Wasabi Energy PA Resources' Interim Report January -... August 15, 2012 - Wasabi Energy Lignol acquires stake in ARW August 15, 2012 - 3D Oil Limited A$29 million farm-in and capital raising August 15, 2012 - Ambassador Oil & Gas Ambassador Doubles Gas In Place in PEL 570 August 14, 2012 - FX Energy Inc FX Energy Begins Drilling Frankowo-1 Well... August 14, 2012 - Tangiers Petroleum Ltd Tangiers Granted New Petroleum Exploration... August 14, 2012 - Senex Energy Limited Appraisal success continues with the... August 14, 2012 - Infrastrata Plc Farmout to Corfe Energy August 14, 2012 - Dragon Oil 2012 Interim Results August 14, 2012 - JKX Oil & Gas Half Yearly Report August 14, 2012 - JKX Oil & Gas Koshekhablskoye Field Well-27 Start-up August 14, 2012 - EnQuest Plc Half Yearly Report August 14, 2012 - Genel Energy Notice of Results August 14, 2012 - Ithaca Energy Inc Hurricane Well Proceeding to Drill Stem Test August 14, 2012 - Target Energy Limited Drilling Commences at Darwin1 August 14, 2012 - Coastal Energy Co Second Quarter 2012 Financial Results August 13, 2012 - AWE LTD AWE's Woodada Deep-1 update August 13, 2012 - Wasabi Energy Closing of Rights Issue August 13, 2012 - Altona Energy Arckaringa Project Update August 13, 2012 - Magnolia Petroleum 25% Working Interest in Devon Energy Well... August 13, 2012 - Serica Energy plc Q2 2012 Results August 13, 2012 - Dragon Oil Transaction in Own Shares August 13, 2012 - Petroneft Resources Plc Operations update August 13, 2012 - Amerisur Resources Platanillo-4 Update August 13, 2012 - Mediterranean Oil & Gas Update on Italian offshore drilling law August 13, 2012 - Edge Resources Operations Update August 13, 2012 - Antrim Energy INTERIM FINANCIAL REPORT - SECOND QUARTER... August 13, 2012 - San Leon Energy Morocco Farm-In Agreements August 13, 2012 - Ithaca Energy Inc Second Quarter and Half Yearly 2012... August 10, 2012 - Gold Oil Plc Result of EGM August 10, 2012 - Caza Oil & Gas, Inc Second Quarter Results and Operational... August 10, 2012 - Gulf Keystone Petroleum Shaikan Declaration of Commercial Discovery August 09, 2012 - FX Energy Inc FX Energy Reports Second Quarter Results;... August 09, 2012 - FX Energy Inc FX Energy Updates Drilling Status on... August 09, 2012 - Renewable Energy Result of AGM August 09, 2012 - Matra Petroleum Half Year Results August 09, 2012 - Valiant Petroleum Change of auditor August 09, 2012 - Urals Energy Release of charge over Petrosakh August 09, 2012 - Solo Oil Issue of Equity and TVR August 09, 2012 - Sefton Resources Non-Executive Director appointed August 09, 2012 - Rialto Energy Ltd 2012 Block CI-202 Drilling Programme Update August 09, 2012 - Xcite Energy Resources Limited Award of Options August 09, 2012 - Rialto Energy Ltd Weekly Drilling Progress Report - Gazelle-P4 August 09, 2012 - Wentworth Resources Change in Share Capital - Shares Issued to... August 09, 2012 - Providence Resources Providence Offered New Licensing Option... August 09, 2012 - Lansdowne Oil & Gas Barryroe North Licensing Option August 09, 2012 - Oilex Ltd Notice of General Meeting - 7 September 2012 August 09, 2012 - Petroceltic International Algeria Declaration of Commerciality August 09, 2012 - Norwest Energy NL Arrowsmith-2 Weekly Update 2 Don't forget to visit our other website

You are receiving this e-mail because you have either registered to receive e-mails from us on our website or you have attended a past Oilbarrel Conference.

If you would like to unsubscribe from our e-mails or have any queries about the website or our events, please contact support@oilbarrel.com.