Oilbarrel Newsletter 12th September 2012

Oilbarrel Weekly Roundup 5th - 12th September 2012 54th Oilbarrel Conference Thursday 13th September 2012 Sponsored By: Thursday 13th September 2012 Merchant Taylors Hall 30 Threadneedle Street London, EC2R 8JB Presenting Companies Include: Solo Oil Roxi Petroleum Simba Energy Petroceltic International Click Here to Register or contact support@oilbarrel.com World Commodities Week 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. Tanzania Mining, Energy/Oil & Gas and Infrastructure Indaba Tanzania Mining, Energy/Oil & Gas and Infrastructure Indaba Tanzania Mining, Energy/Oil & Gas and Infrastructure Indaba 2012 ("TMEOGII 2012") will take place on 24-26 October 2012 at Arusha International Conference Centre, Arusha, Tanzania and it is with great pleasure that we invite your company to benefit from this prestigious event and outstanding program by attending and/or taking up sponsorship/exhibition. For delegate, Sponsorship and Exhibitor Registration please contact: Tinashe Tafira Email: admin@tanzaniaindaba.com or tanzaniaindaba@gmail.com Latest News News: September 12, 2012 Coastal Energy Announces A Very Successful Appraisal Well At The Songkhla A Field In The Gulf of Thailand Canada’s Coastal Energy has grown into a company with a market cap around £1 billion on the back of very successful drilling (notablyand in the last 12 months,) in the Gulf of Thailand where it hit upon a seam of prolific shallow largely Miocene -reservoirs. Full story... News: September 12, 2012 No Hard News But Falklands Oil & Gas Drops As Sentiment Sours As Loligo Approaches TD It is one of the most anticipated and closely watched drills of recent years so it’s no surprise that any hint of anything less than triumph at FOGL’s Loligo wildcat off the Falklands Islands would send investors running scared.  The AIM-quoted explorer put out an RNS on Monday in response to speculation that all was not well with the high impact well.  The shares have been under pressure for a few days and Monday’s confirmation that Chariot’s Nimrod wildcat was a bust offshore Namibia didn’t help sentiment. Full story... News: September 11, 2012 Chariot Oil & Gas Has A Second Duster Offshore Namibia Chariot Oil & Gas took a real pasting in the market yesterday following the news that a second wildcat well in Namibia (in a programme of 4 to 5) was, like the first, a duster. Shares in the AIM listed company plunged 66.41 per cent to 33p after what one broker, Investec, called , “ the bitterly poor result” at the Kabeljou exploration well on the Nimrod prospect in the Southern Block 2714A in the Orange Basin offshore Namibia was announced as a dry hole and has been plugged and abandoned. Full story... News: September 11, 2012 Circle Oil Delivers Robust Interims As Production Rises In Morocco And Egypt Despite operating in the epicentre of last year’s Arab awakening, Circle Oil has posted a strong set of interim results as it’s “business as usual” for the Irish E&P.  Turnover was up 23 per cent at US$35.4 million for the six month period, with post-tax profits up 53 per cent at US$13.3 million. Key to this improved performance was the installation of a new 55 km pipeline for its gas fields in Morocco, doubling gas sales there to 4.3 to 4.5 million cubic feet per day, and the drilling of additional producing wells in Egypt.  Production for the first half of 2012 was between 3,500 to 4,000 barrels of oil equivalent per day with output currently running at around 4,200 boepd. Importantly, the AIM-quoted company also managed to extend its US$30 million financing facility for a further three years to July 2015. This relieved an issue that had weighed on the company. Full story... News: September 10, 2012 Mediterranean Oil & Gas Tidies Up The Portfolio As It Readies For Push In Malta And Offshore Italy Fresh from its Maltese farm-out to cash-rich Genel Energy, AIM-quoted Mediterranean Oil & Gas has announced the sale of 13 non-core assets onshore southern Italy.  The move tidies up the portfolio as MOG, after a number of years in the doldrums, gathers new momentum in Malta and offshore Italy, where the lifting of an offshore drilling ban has breathed new life into its long-stalled Ombrina Mare development. Full story... News: September 10, 2012 Leni Gas & Oil Announces A Positive CPR On One Of Its Trinidad Interests Investors in Leni Gas & Oil have been waiting for “the other shoe to drop” as they used say in business circles. Now it looks as if it just has, in the form of some good news from Trinidad. The first shoe to fall was the re-shaping of the portfolio and the selling off of under-performing or non-core assets. Full story... Market Overview: September 07, 2012 Brent Crude Edges Higher As The US Looks For A Third Round Of Monetary Easing Investors are waiting for vital economic data from the world’s biggest energy consumer as President Obama vows to further reduce imports of foreign oil. America could still be looking for a third round of monetary easing as the European Central Bank does its best to ease the regions debt crisis. In early trading on Friday, the oil price edged higher with Brent crude was priced above US$113 with WTI holding above US$95 a barrel. Full story... News: September 06, 2012 Ophir Energy Excites Investors With Possibility Of Rovuma Delta Look-Alikes On Its Tanzanian Blocks FTSE 250 explorer Ophir Energy continues to impress.  Its shares are trading north of 600 pence, having more than doubled since January, as its frontier wildcatting offshore Tanzania continues to yield massive volumes of strategically located gas.  East Africa is one of the industry’s hottest new plays and, after AIM explorer Cove Energy was swallowed by PTTEP for £1.2 billion after a fierce bidding war with Shell, investors feel it is only a matter of time before the majors get their cheque books out for Ophir, which has the largest deep-water acreage position in the region. Full story... Features: September 06, 2012 Poweralternatives:TEG Group Finalises Exciting Dagenham Project And Consigns Company Sale To History AIM listed organic waste technology company TEG Group made an exciting announcement on September 3 relating to the award and financial closure of the Dagenham Project in East London.  TEG should be familiar to Oilbarrel readers through its previous work with Alkane Energy who is also involved on the project, but for TEG, Dagenham represents the culmination of much work on finding a suitable site in London from which to service the city’s obvious waste recycling opportunities. Full story... News: September 05, 2012 Norwest Energy Reports Promising Signs From The Fifth And Final Stage Of The Arrowsmith-2 Shale Well ASX listed Norwest Energy is one of half a dozen Australian companies in the forefront of a drive to develop a shale gas industry in that vast country.  It now looks like it could have stolen a march on its rivals with the statement that it has had very promising signs from the fifth and final stage frac of the Arrowsmith-2 well with both oil and gas to surface at the start of flow back of the Kockatea Shale interval – 2639-2681 metres. Full story... Press releases September 12, 2012 - Gulf Keystone Petroleum Half Yearly Report September 12, 2012 - Afren Plc East Simrit exploration drilling commences September 12, 2012 - Lochard Energy Group Form 8 (OPD) Lochard Energy Group plc September 12, 2012 - President Petroleum Farm-in Agreement and Placing September 12, 2012 - Kea Petroluem Appointment of Corporate Broker September 12, 2012 - New World Oil & Gas Operations Update, Belize September 12, 2012 - Alkane Energy Plc Interim Results September 11, 2012 - Tullow Oil plc Well Update - Kenya September 11, 2012 - Nexus Energy Financial Report for Year Ended 30 June 2012 September 11, 2012 - Ceramic Fuel Cells CFU secures strategic investor September 11, 2012 - Magnolia Petroleum Participating in two further wells in... September 11, 2012 - Max Petroleum Drilling Update September 11, 2012 - Rialto Energy Ltd Investor Presentation - Euroz Oil & Gas... September 11, 2012 - Sefton Resources Half Yearly Report September 11, 2012 - Lansdowne Oil & Gas Directorate Change September 11, 2012 - Exillon Energy Drilling Update September 10, 2012 - Department of Energy &... Stability, Certainty and Sustainability... September 10, 2012 - Coastal Energy Co Successful Appraisal Well at Songkhla A September 10, 2012 - Northern Petroleum Plc Condensed Interim Results September 10, 2012 - Oilex Ltd Board & Executive Management Changes September 10, 2012 - Melrose Resources plc Romanian Offshore Est Cobalcescu Farm-out September 10, 2012 - Chariot Oil and Gas Ltd Results of Kabeljou Exploration Well September 10, 2012 - Bahamas Petroleum Company Plc Update on Licences in the Bahamas September 10, 2012 - Exillon Acquisition of LLC VenlockNeft September 10, 2012 - Nostra Terra Oil & Gas Company PLC First Well Spudded at Chisholm September 10, 2012 - BG Group Management: Fabio Barbosa granted leave of... September 10, 2012 - Mediterranean Oil & Gas Further Update on Response to LGO... September 10, 2012 - Tethy's Petroleum Operations Update September 10, 2012 - Range Resources Trinidad Update September 10, 2012 - Magnolia Petroleum Interim Results September 10, 2012 - Ceramic Fuel Cells Extension to closing date overseas offer... September 10, 2012 - Tullow Oil plc Mbawa-1 Drilling Update September 07, 2012 - Oxford Catalysts Supplier to 1,000 bpd Commercial GTL Plant September 07, 2012 - Eland Oil & Gas Plc Holding(s) in Company September 07, 2012 - Gold Oil Plc Trading Statement September 07, 2012 - Dragon Oil Transaction in Own Shares September 07, 2012 - Valiant Petroleum plc Form 8 (OPD) September 07, 2012 - Xcite Energy Resources Limited Sale of Bentley Crude Oil and Flow Test... September 07, 2012 - Energy XXI Exchange of Convertible Perpetual... September 07, 2012 - Oilex Ltd Oilex General Meeting Presentation... September 07, 2012 - PA Resources UK Limited PA Resources’ Production Report for... September 06, 2012 - The TEG Group Holding(s) in Company September 06, 2012 - Department of Energy &... More Householders To Get Help To Stay... September 06, 2012 - State for Energy Statement From Energy Minister John Hayes... September 06, 2012 - Eland Oil & Gas Plc Holding(s) in Company September 06, 2012 - Leni Gas & Oil Plc Goudron Field, Trinidad Report September 06, 2012 - Dragon Oil Dividend Exchange Rate September 06, 2012 - Mediterranean Oil & Gas Divestment of Non-Core Assets September 06, 2012 - Valiant Petrleum Interim Results September 06, 2012 - Karoon Gas Australia Boreas-1 Progress Report No 11 September 06, 2012 - Texon Petroleum Ltd Reserves Up 11 % September 06, 2012 - Norwest Energy NL Arrowsmith-2 Weekly Project Update 6 September 05, 2012 - CBM Asia Development Corp CBM Asia Updates Kuala Kapuas I PSC IN. September 05, 2012 - Eland Oil & Gas Plc Holding(s) in Company September 05, 2012 - San Leon Energy Barryroe Update September 05, 2012 - Sino Gas & Energy Linxing Work Program Update September 05, 2012 - Tangiers Petroleum Ltd Issue of Equity September 05, 2012 - Magnolia Petroleum Issue of Equity and Amendment to EFF September 05, 2012 - Dragon Oil Transaction in Own Shares September 05, 2012 - Rialto Energy Ltd Investor Presentation - Good Oil Conference September 05, 2012 - Serica Energy plc Board Appointment September 05, 2012 - Providence Resources Barryroe Oil Field - Additional Oil in... September 05, 2012 - Green Dragon Gas Half Yearly Report Don't forget to visit our other website

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