Oilbarrel Newsletter 8th August 2012

Oilbarrel Weekly Roundup 1st - 8th 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 24 – 25 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. Latest News 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... News: August 08, 2012 Frontera Resources Makes Headway With Its Wells In The Mtsare Kevi And Taribani Fields In Georgia It has taken a long time to get to this point but London Aim quoted Frontera Resources is finally making headway in exploiting its assets in Central Asia.  Frontera’s core area of interest is a number of large stakes on Block 12 on the Kura Basin onshore in Georgia near the borders with Armenia and Azerbaijan. Here there are eight discovered fields with 17 new prospects in an area of 5060 km2 held until 2027. Full story... News: August 07, 2012 FOGL Spuds Much-Anticipated Loligo Wildcat And Brings In Noble Energy For Future Drilling You wait years for a farm-in partner and then two come along at once.  That at least is the experience of shareholders in Falklands Oil & Gas, who have long been keen for the AIM-quoted explorer to land farm-in deals that would help set a benchmark for the company’s huge tracts of the Falklands offshore. Shares in the company were up 13 per cent in Monday morning trading at 84.75 pence on news that deepwater exploration powerhouse Noble Energy would be farming into its frontier acreage in the southern Atlantic. Full story... News: August 07, 2012 Austex Oil’s Hopes To Exit 2012 Producing 500 BOEPD As Drilling Ramps Up Nought point one four per cent doesn’t seem like a big number, but when it relates to Austex’s net acreage share (23,000) of the 17 million acre Mississippian lime formation, it’s the absolute rather than relative numbers that matter.  Stretching across Kansas and into Oklahoma, the Mississippian represents one of America’s major liquid rich plays, up there with the Bakken, Niobrara, Eagle Ford and Wolfberry.  The company’s projects are dotted along the fringe of the formation in both Counties and sit close to existing projects and facilities. Full story... News: August 06, 2012 Range Resources Eyes Offshore PSA Despite Investor Jitters After Initial Puntland Wells Disappoint Some wildcats really capture investor imaginations and an operator can find their every move open to scrutiny. Current cases include drilling in the Falkland Islands or testing the superstructures offshore Namibia while, until last year, Xcite Energy found its every move open to (mis)interpretation and in 2005 Northern Petroleum’s drilling efforts on the Isle of Wight were much scrutinised by shareholders.  Other operators report anxious shareholders inundating their offices with calls or even attempting underhand tactics in the manner of tabloid journalists to gain information on a hotly followed drill. Full story... News: August 06, 2012 Nighthawk Energy’s Latest Update Suggests The Company is On The Mend New management took over at Aim listed Nighthawk Energy in January this year when the company was, frankly, a dog. Investors waited, many of them very anxiously, to see what would happen next. Some would say that long term shareholders have a lot to be anxious about. The shares had once traded at comfortably over 100p, but by the time the new managers came in the share price was barely visible on anybody’s radar screen at under 2p. Full story... Market Overview: August 03, 2012 Monetary Policy Dominates The Headlines As Geopolitical Issues Linger The global policy makers offered no relief to the commodity markets this week with the Federal Reserve maintaining the status quo and leaving interest rates steady at close to zero.  In early trading on Friday, the markets regained some momentum with Brent crude oil contracts trading above US$106 and WTI trailing behind just above US$87 a barrel. Full story... News: August 02, 2012 Coastal Energy Piles On The Barrels in Thailand With 45 Per Cent Increase In 2P Reserves Shares in Coastal Energy jumped 45 pence, or nearly five per cent, after the Houston-headquartered E&P revealed the impact of its drilling successes of 2012 on its reserve base. The reserves report, prepared by RPS Energy, shows that offshore 1P reserves increased 30 per cent to 81 million barrels, with 2P reserves leaping 60 per cent to 127.7 million barrels.  When its onshore gas reserves are included, the 1P number rises to 87.9 million barrels of oil equivalent and the 2P number gains 45 per cent to 149 million boe, with a pre-tax NPV10 of US$5.6 billion and a post-tax number of US$2.5 billion. Coastal, which is dual listed on the TSX, has a market cap in London of £980 million. Full story... News: August 02, 2012 Target Energy Hopes To Turn Around A Challenging 2012 With A Revival At Fairway Australian listed, US focused explorer and producer Target Energy has had a forgettable 2012 with a descending share price and drilling challenges conspiring to take the gloss off its wider development potential.  However, if “success is laying a firm foundation with the bricks others have thrown” (David Brinkley), the company can take heart from what it does have to celebrate with a solution to its Fairway water disposal problem and new drill plans elsewhere in the licence bringing something to look forward to in the latter half of the year. Full story... 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... Press releases August 08, 2012 - The Parkmead Group Completion of Acquisition of First... August 08, 2012 - Dragon Oil Transaction in Own Shares August 08, 2012 - Max Petroleum Drilling and Financing Update August 08, 2012 - Xcite Energy Resources Limited Issue of US$10 million of Unsecured 14%... August 08, 2012 - PA Resources UK Limited PA Resources’ Production Report for July,... August 07, 2012 - Northern Petroleum Plc Northern Starts Drilling in Italy August 07, 2012 - Petro Matad Limited Appointment of Exploration Manager August 07, 2012 - JKX Oil & Gas Award of multi-stage fracture stimulation... August 07, 2012 - Gold Oil Plc Update on General Meeting August 07, 2012 - Gold Oil Plc Appointment of Financial Adviser August 07, 2012 - Gold Oil Plc Appointment of Directors August 07, 2012 - Providence Resources Technical Update - Drombeg Prospect, South... August 07, 2012 - PA Resources UK Limited Invitation to presentation of Q2 results... August 07, 2012 - New World Oil & Gas 12.5% Interest in Danica Jutland Project... August 06, 2012 - FX Energy Inc FX Energy Reports Core and Log Results for... August 06, 2012 - Wasabi Energy China licensee update August 06, 2012 - Leni Gas & Oil Plc Equity Placement and Total Voting Rights August 06, 2012 - Dragon oil Transaction in Own Shares August 06, 2012 - Heritage Oil Interim Results August 06, 2012 - Heritage Oil Announcement re: Rights Issue August 06, 2012 - Petroceltic International Update on Italian Offshore Legislation August 06, 2012 - Falkland Oil and Gas Limited Commencement of Loligo well operations August 06, 2012 - Falkland Oil and Gas Limited Farm-out agreement with Noble Energy August 06, 2012 - Mediterranean Oil & Gas Positive Update on Italian Offshore... August 06, 2012 - Oilex Ltd Entitlement Offer Prospectus August 06, 2012 - Jupiter Energy Limited Commencement of drilling August 03, 2012 - Dragon Oil Transaction in Own Shares August 03, 2012 - Rialto Energy Ltd Issue of Ordinary Shares August 03, 2012 - President Petroleum Trading and Operations Update August 03, 2012 - Jupiter Energy Limited Holding(s) in Company August 03, 2012 - Xcite Energy Resources Limited Board and Management Appointments August 03, 2012 - Xcite Energy Resources Limited Operational Update - Pre-production Flow Test August 02, 2012 - FX Energy Inc FX Energy Schedules Second Quarter 2012... August 02, 2012 - Cadogan Petroleum Plc Holding(s) in Company August 02, 2012 - Tangiers Petroleum Ltd Quarterly Report June 2012 August 02, 2012 - Jupiter Energy Limited Issue of Equity August 02, 2012 - Wessex Exploration Plc Projects Update August 02, 2012 - Parkmead Group Strong Results from Platypus Appraisal Well August 02, 2012 - Ophir Energy Result of Papa-1 Well August 02, 2012 - Dragon Oil Transaction in Own Shares August 02, 2012 - Rialto Energy Ltd Weekly Drilling Progress Report - Gazelle-P4 August 02, 2012 - Exillon Energy July Production Report and Drilling Update August 02, 2012 - Infrastrata Appointment of NOMAD and Broker August 02, 2012 - New World Oil & Gas FOA and Drilling Contract Signed for Blue... August 02, 2012 - Wasabi Energy China licensee update August 02, 2012 - Oilex Ltd Oilex Announces Capital Raising August 02, 2012 - Norwest Energy NL Arrowsmith-2 Weekly Update 1 August 02, 2012 - Ceres Power Holdings Blocklisting Interim Review 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.