Oilbarrel Newsletter 1st August 2012

Oilbarrel Weekly Roundup 25th July - 1st 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 Latest News News: August 01, 2012 Tower Resources Raises Cash To Double Its Exposure To Namibian Offshore As Repsol Joins The Hunt Shares in Tower Resources gained 10 per cent in morning trading earlier this week as the AIM-quoted explorer confirmed that Spanish oil giant Repsol was joining its wildcatting venture offshore Namibia.  What’s more, Tower, having raised £5.9 million in a placing priced at 3 pence, is converting its 15 per cent carried interest in Licence 0010 into a 30 per cent working interest at a cost of £3.4 million.  This leaves the equity split in Licence 0010 at Repsol, operator, with 44 per cent, Tower with 30 per cent and Arcadia with 26 per cent. Full story... News: August 01, 2012 Jupiter Energy Runs Into Snags With its Fourth Shallow Well In Kazakhstan But Manages To Become A Producer Rather Than A Pure Explorer When we last reported on ASX and London AIM-listed Jupiter Energy we said the company was good at keeping to timetables. And so it is. It had predicted it would spud the first of its two new commitment wells on its acreage in Kazakhstan in the first quarter of 2012 Full story... News: July 31, 2012 Chariot Spuds Kabeljou Wildcat To Test Nimrod Mega-Structure Offshore Namibia The moment of truth is approaching for Chariot Oil & Gas.  After five years of acquiring seismic, crunching the data, fine-tuning the modeling, seeking out partners and suitable rigs, the AIM-quoted company has now spudded the giant Nimrod prospect offshore Namibia.  Investors have long waited to see this supergiant drilled and put to the test geological models that suggest a possible 4.9 billion barrel mega-structure. Full story... News: July 31, 2012 Texon Petroleum Drills A Fifth Successive Successful Eagle Ford Well As It Seeks To Monetise These Valuable Licences in Texas Shareholders in  ASX - quoted Texon Petroleum were jerked into a “wide-awake-better-pay- attention” mode last February when the company announced it had appointed Houston based  Albrecht & Associates and Brisbane  based RBS Morgans  Limited with the intention to either fully or partially monetise  (lease sale, corporate trade, farm out, joint venture) the company’s Eagle Ford project to achieve the optimal  outcome for shareholders. Full story... News: July 30, 2012 Taipan Resources, Formerly Lion Petroleum, Raises C$11.5 Million as Tullow’s Ngamia-1 Raises The Stakes For Kenyan Explorers May 2012 was something of a pivotal time for Kenya.  That was the month Tullow Oil confirmed its Ngamia-1 well was a significant find, with at least one hundred metres of net oil pay, far exceeding the net pay in its game-changing discovery wells in Uganda.  Industry watchers are predicting Ngamia will be the biggest oil discovery of the year – and Tullow has only just begun work there. Full story... News: July 30, 2012 GeoPark’s Heavy Investment Continues To Produce Good Results In Chile And Colombia Seven years of production and revenue growth, the latest four of which have also provided positive and growing EBITDA numbers, represents for AIM listed GeoPark, an  endorsement of its Latin American focus.  The company has navigated the obvious political and commercial risks present in that part of the world, and reduced its exposure to any one country by diversifying itself across 3 operating areas in Chile, Colombia and Argentina. Full story... Market Overview: July 27, 2012 Positive Reaction To ECB President’s Comments, But Challenges Remain For The Global Economy And Oil Demand. Nervousness continued on the market all week with price fluctuations up and down as investors feared reaction to the debt crisis in Europe. The European Central Bank saved the day and in early trading on Friday, Brent crude was trading over US$105, with WTI priced above US$89 a barrel.  Full story... News: July 26, 2012 Leyshon Resources Parks Its Coal Deal, And Moves Into Unconventional Gas In China Which way is the world going, and which way resources in particular? If the useful little deal cut by Leyshon Resources this week is anything to go by, then the immediate future is energy, and in the oil and gas space in particular. Full story... News: July 26, 2012 Providence’s Barryroe Oilfield Draws Comparisons With Buzzard As The Resource Estimate Heads Towards 1.6 Billion Barrels Offshore Ireland continues to build momentum.  Having been something of a backwater in recent decades, with sporadic bursts of activity failing to gain traction, it would seem that the stars have finally aligned for waters that have promised so much yet have so often failed to deliver.  Until now.  It looks like AIM-quoted Providence Resources has found the trigger that will finally put Ireland on the oil and gas map, with news that its Barryroe oilfield in the Celtic Sea holds between 1 and 1.6 billion barrels of oil-in-place.  This is almost four times higher than previous estimates and has drawn comparisons with the giant Buzzard oilfield in the North Sea (1.2 billion barrels) and the much hailed Sea Lion discovery in the Falklands (just over 1 billion barrels). Full story... News: July 25, 2012 Drilling Results From Kurdistan Continue To Delight Investors In Afren And Gulf Keystone At last week’s oilbarrel.com conference, savvy delegates were to be found checking their smart phones and muttering with delight at further good news from Kurdistan for oilbarrel.com favourites Afren and Gulf Keystone Petroleum.  Both companies have been regulars at our conferences over the years and have built a fond following among the oilbarrel.com crowd for their canny dealmaking and drillbit successes. Full story... Press releases August 01, 2012 - Magnolia Petroleum Lois Rust Initial Production & Other Well... August 01, 2012 - Rockhopper Exploration Total Voting Rights August 01, 2012 - Leni Gas & Oil Plc Malta Divestment August 01, 2012 - Petro Matad Limited Notice of AGM August 01, 2012 - Jubilant Energy Notice of AGM August 01, 2012 - Jupiter Energy Limited Director/PDMR Shareholding August 01, 2012 - Providence Resources Covertible Bond Redeemed in Full August 01, 2012 - Range Resources Quarterly Activities Report and Appendix 5B August 01, 2012 - Coastal Energy Co Results of Third Party Interim Reserves... August 01, 2012 - Sound Oil PLC Engineering Appointment & Funding Contract July 31, 2012 - Falkland Oil and Gas Limited Leiv Eiriksson Rig on Contract July 31, 2012 - Oilex Ltd Quarterly Report to Shareholdes - 30 June... July 31, 2012 - Norwest Energy NL Quarterly Cashflow Report July 31, 2012 - Norwest Energy NL Quarterly Activities Report July 31, 2012 - Frontera Resources Business Update July 31, 2012 - Dragon Oil Transaction in Own Shares July 31, 2012 - Tower Resources plc Issue of Warrants July 31, 2012 - Rialto Energy Ltd Quarterly Activities Report July 31, 2012 - Rialto Energy Ltd Quarterly Cashflow Report July 31, 2012 - SacOil Appointment of Vice President Finance July 31, 2012 - Max Petroleum Holding(s) in Company July 31, 2012 - Bahamas Petroleum Company Plc Change of Adviser July 31, 2012 - Global Petroleum Quarterly Report July 31, 2012 - AWE ltd July 31, 2012 - Norwest Energy NL Arrowsmith-2 Project Update July 31, 2012 - Syngas June 2012 Quarterly Report July 31, 2012 - Texon Petroleum Ltd June 2012 Quarterly Report and App 5B July 30, 2012 - Falcon Oil & Gas Falcon Oil & Gas Ltd. Announces... July 30, 2012 - Wasabi Energy ASX Appendix 4C July 30, 2012 - Good Energy Group Plc First Day of Dealings on AIM July 30, 2012 - Good Energy Group Plc Good Energy reduces gas prices by 5% for... July 30, 2012 - New Guinea Energy ltd Quarterly Report and Appendix 5B July 30, 2012 - Beach Energy Quarterly Activities Report to 30 June 2012 July 30, 2012 - Beach Energy Media Release - An outstanding year by all... July 30, 2012 - Sino Gas & Energy Sino Gas - Q2 Activities Report July 30, 2012 - Beach Energy DLS: Oil Wells Spud at Bauer-7 and Olive... July 30, 2012 - Oilex Ltd Voluntary Suspension - ASX July 30, 2012 - Sino Gas & Energy Sino Gas - Q2 Cashflow Report July 30, 2012 - Dragon Oil Transaction in Own Shares July 30, 2012 - Ithaca Energy Inc Stella and Harrier Development Update:... July 30, 2012 - Leni Gas & Oil Plc Spanish Divestment, Update July 30, 2012 - Silvermere Energy PLC Operations Update July 30, 2012 - Kea Petroleum Puka 1 Update and Appointment of Managing... July 30, 2012 - Jupiter Energy Limited Update on J-50, J-51 and J-52 wells July 30, 2012 - Tower Resources plc Interim Results for the six months to 30... July 30, 2012 - Tower Resources plc Repsol farm in, Placing, Namibia licence... July 30, 2012 - Tethy's Petroleum Tethys Board Appoints New CEO and Chairman July 30, 2012 - Magnolia Petroleum Quarterly Update July 30, 2012 - Range Resources Investor Q and A July 30, 2012 - Norwest Energy NL Arrowsmith-2 Project Update July 30, 2012 - Neon Energy Ltd Quarterly Report June FY12 July 27, 2012 - Chariot Oil and Gas Ltd Commencement of Drilling July 27, 2012 - Dragon Oil Transaction in Own Shares July 27, 2012 - Wentworth Resources COMPLETION OF DIVESTMENT OF MNAZI BAY... July 27, 2012 - Cove Energy Plc COMPLETION OF DIVESTMENT OF MNAZI BAY... July 27, 2012 - Aminex Plc UPDATE ON MARKETING OF US ASSETS FOR... July 27, 2012 - Yorkville Advisors Yorkville Advisors has today announced a... July 26, 2012 - Ceres Power Holdings Plc Commercialisation Programme Remains On-track July 26, 2012 - Petroleum Geo Services Second Quarter and First Half 2012 Results July 26, 2012 - Target Energy Limited Quarterly Cashflow Report July 26, 2012 - Target Energy Limited Quarterly Activities Report July 26, 2012 - Dart Energy Liulin Compressed Natural Gas Facility... July 26, 2012 - Oilex Ltd Trading on ASX July 26, 2012 - Amerisur Resources PLC Platanillo-4 Update July 26, 2012 - Amerisur Resources PLC Fenix Update July 26, 2012 - Rialto Energy Ltd Spudding of Gazelle-P4 Development Well July 26, 2012 - Faroe Petroleum Preliminary Results from Cooper Well July 26, 2012 - Faroe Petroleum Increased banking facility secured July 26, 2012 - Gasol plc New Chairman and Directorate change July 26, 2012 - Sound Oil PLC Change of Adviser & Open Offer July 26, 2012 - Empyrean Energy Trading Statement Don't forget to visit our other website

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