Oilbarrel Newsletter 11th October 2012

Oilbarrel Weekly Roundup 3rd - 11th October 2012 Weekly Review We have expressed our regrets that the last Oilbarrel.com conference scheduled for October 9 had to be postponed. Many readers have contacted us and asked why the event had to be put off. Others have asked about the deafening silence over a date for the next conference. Well it's a funny old world in the conference business. The notion of feast to famine or vice versa does not begin to explain the wild swings in demand, or the uncertainties of supply for events. We cancelled the October gathering because we had two late pullouts. This is nobody's fault. Oilmen and women have overcrowded diaries and uncertain news flows and deferments become inevitable. It would have been unfair to both the attendees and the presenters, however, to present with three companies. We toyed for a while with the notion of mounting, for the first time, a joint event with our sister company Minesite. But after taking soundings in both camps, we found there was little enthusiasm for this idea. So the situation is this. Our the next Oilbarrel conference will be on November 13 at The Brewery. At the moment we have eight companies signed up to present. We are in a famine to feast mode. This could change. I hope not. Our return to our old home at The Brewery should be a bumper event. Stewart Dalby 55th Oilbarrel Conference Tuesday 13th November 2012 Sponsored By: Tuesday 13th November 2012 ***NEW VENUE*** The Brewery Chiswell Street London EC1Y 4SD (Nearest stations are Moorgate and Liverpool Street) Presenting Companies Include: Eland Oil and Gas Faroe Petroleum Bridge Energy Green Power Energy Chariot Oil & Gas Argos Resources President Petroleum Click Here to Register or contact support@oilbarrel.com Latest News News: October 11, 2012 Silvermere Energy Gushes Higher After Meridian Petroleum’s Former Boss Reveals Mustang Island Well Is Oil-Charged Shares in Silvermere Energy, which have been under pressure this year due to delays in delivering first gas from its I-1 well in the Gulf of Mexico, surged on Tuesday after it was suggested this may not be a gas well after all, but an oil well. Shares in the company jumped more than 26 per cent  on the news and edged higher again on Wednesday to just north of 14 pence in afternoon trading. Full story... News: October 11, 2012 Canada’s Adira Energy in the limelight as eastern Mediterranean gas shimmers It’s shaping up to be a big year ahead for Canada’s Adira Energy, with excitement mounting in the gas-rich eastern Mediterranean zone. In 2013, TSX.V-listed Adira plans to commence drilling a series of wells targeting Israel’s oil potential, something that has thus far proved fairly elusive for the region’s drillers.The drilling campaign is expected to get going around the same time Israel’s huge Tamar gas field enters production, which will feed domestic demand for years to come. Full story... News: October 10, 2012 Zeta Petroleum Is Set To Benefit From Romania’s Expected Gas Market Deregulation Next Year Recently listed on the ASX, Zeta Petroleum is focused on both oil and gas in Romania where it holds a mix of interests in 3 historically productive fields and over 6,000 square kilometres of non-exclusive prospecting permits.  Production is currently derived from its 50 per cent interest in the Suceava licence, while drilling at its 39 per cent held Jimbolia licence and 100 per cent owned Bobocu licence hopes to bring both into production during 2013. Full story... News: October 10, 2012 Plexus Holdings Surges As It Expects Annual Results To “Materially Exceed” Analyst Forecasts   Shares in Plexus Holdings leapt 17 per cent on Tuesday when the wellhead specialist released an upbeat trading statement.  The AIM-quoted engineering group expects its full year earnings, due for release on October 16, to be ahead of market expectations with after-tax profits and earnings per share “materially in excess” of current analysts’ forecasts. Full story... News: October 09, 2012 Jupiter Energy Has A Fifth Successive Discovery With Its J-55 Well In Kazakhstan Jupiter Energy, the AIM and ASX listed junior focused on Kazakhstan has done it again. It recently reported that the J-55 well on Block 31, the company’s 100 per cent owned permit in onshore Kazakhstan just east of the city of Aktau and the Caspian Sea, has come good. Full story... News: October 09, 2012 Aminex And Solo Oil Begin Formal Process To Farm-Out Ruvuma Basin Acreage Some good news for Aminex and Solo Oil followers to start the week.  Shares in Aminex edged higher on Monday morning on news that the Africa-focused explorer has engaged investment bank FirstEnergy Capital to manage the farm-out of its Ruvuma PSA in Tanzania.  While investors would be fanciful to expect the fevered bidding that accompanied Cove Energy’s sale at the start of the year, when a sale of its 8.5 per cent stake in the Rovuma Area 1 block offshore Mozambique led to the sale of the entire company for £1.2 billion, there are hopes that the industry jostling for position across East Africa will translate into a valuable promote for Aminex. Full story... News: October 08, 2012 Poweralternatives: Maple Energy Starts Ramping Up Exports From Its Peruvian Ethanol Plant Rex Canon, the CEO of Maple Energy, the AIM Listed Peru focused energy group has been in London doing the rounds of brokers, fund managers and investors. He spoke at a Clean Tech investors forum and took the time to talk to Oilbarrel about his excitement concerning the company’ current situation. Full story... News: October 08, 2012 Target Energy Accelerates Drilling Campaign As Darwin-1 Delivers Strong Test Results Could this be the start of the turnaround for Target Energy?  As evidencedAC by the trailing share price, the ASX company has had a difficult year to date, with disappointing well results from Texas and Louisiana.  That began to change in August, however, when it drilled the Darwin prospect on the Fairway Project in the Permian Basin of West Texas. Full story... Market Overview: October 05, 2012 Oil Prices Hold Up Despite Fears The Global Recession Could Be Prolonged The International Monetary Fund said the global recession might last for 10 years, predicting another five or six years of doom and gloom. The oil price has held relatively strong despite a global slowing in demand in recent years and in early trading on Friday, Brent crude was priced around US$112 with WTI below US$92 a barrel. Full story... News: October 04, 2012 Sound Oil Is Close To First Production With The Rapagnano Well In Italy With its interests in Indonesia seemingly going nowhere, AIM listed junior Sound Oil diversified into Italy by buying from Consul Oil & Gas a clutch of low cost/low risk exploration and development prospects,  --  17 in all, spread across onshore Italy. Full story... News: October 04, 2012 Caza Oil & Gas Drills Ahead With Key Bone Spring Wells In New Mexico These are tense times for Caza Oil & Gas.  With its share price under pressure, the AIM and TSX-quoted E&P is drilling a series of Bone Spring formation wells in New Mexico that will be a key test of its turnaround strategy, putting to bed earlier drillbit disappointments in Texas and Louisiana. Full story... News: October 03, 2012 Conversion Challenges In Cameroon Prompt Victoria Oil & Gas To Downgrade 2012 Production Targets But Logbaba Remains A Game-Changing Project For The AIM Company Shares in Victoria Oil & Gas have almost halved since the highs of Spring as it has taken longer than anticipated to ramp up gas sales from its Logbaba gas/condensate field in Cameroon and its production guidance for the year has been revised down.  The delays do not detract from the quality of the project, however, but reflect the challenges of delivering the country’s first domestic gas Full story... Press releases October 11, 2012 - Chariot Oil and Gas Ltd Acquisition of offshore Moroccan license... October 11, 2012 - Ithaca Energy Inc Bank Syndication Closure  October 11, 2012 - Petroneft Resources Plc Operations Update  October 11, 2012 - Mediterranean Oil & Gas Director and Management Changes October 11, 2012 - Range Resources Trinidad Reserves Upgrade and Financing... October 11, 2012 - Sound Oil PLC Directorate Change  October 11, 2012 - Amerisur Resources Results of Placing October 11, 2012 - Plexus Group GBP1M New Customer Contract Win with Lotos  October 11, 2012 - Petroceltic International Delisting of Melrose Resources plc  October 10, 2012 - CBM Asia Development Corp CBM Asia Signs Kuala Kapuas I PSC in South... October 10, 2012 - Petroceltic International Form 8 (DD) - Petroceltic October 10, 2012 - Mediterranean Oil & Gas Q3 Production Update  October 10, 2012 - Dragon Oil & Gas Transaction in Own Shares October 10, 2012 - Oilex Ltd 2012 Annual Report to Shareholders October 10, 2012 - Ithaca Energy Inc Production and Operations Update  October 10, 2012 - Frontera Resources Director purchases shares  October 10, 2012 - Oilex Ltd Notice of AGM - 14 November 2012 October 10, 2012 - Lansdowne Oil & Gas Barryroe - Recovery Factor Update October 10, 2012 - San Leon Energy Barryroe update  October 10, 2012 - Kea Petroleum Board Appointment October 10, 2012 - New World Oil & Gas Blue Creek Project W.I Increased to 35%  October 10, 2012 - Providence Resources Technical Update - Barryroe Oil Field... October 10, 2012 - Norwest Energy NL Quarterly Activities Report  October 10, 2012 - Norwest Energy NL Quarterly Cashflow Report October 09, 2012 - Silvermere Energy PLC Share Price Movement  October 09, 2012 - Wasabi Energy Director/PDMR Shareholding  October 09, 2012 - Empyrean Energy Sugarloaf Production Update  October 09, 2012 - Dragon Oil Transaction in Own Shares October 09, 2012 - Nighthawk Energy plc Drilling Program Update October 09, 2012 - Nighthawk Energy plc Settlement Agreement and Purchase Option  October 09, 2012 - Frontera Resources Director purchases shares October 09, 2012 - Ithaca Energy Inc Acquisition of Non-Operated Interests  October 09, 2012 - Plexus Group Trading Statement October 09, 2012 - New World Oil & Gas Placing to raise GBP8.6million  October 09, 2012 - FX Energy Inc FX Energy Provides Operations Update  October 08, 2012 - Department of Energy &... DECC Response To OFGEM Electricity... October 08, 2012 - Green Dragon Gas Appointment of Non-executive Director October 08, 2012 - Department of Energy and... £2MILLION BIOENERGY SCHEME OPENS TO... October 08, 2012 - Magnolia Petroleum Quarterly Operations Update October 08, 2012 - Bluebird Energy Final Results October 08, 2012 - Resaca Exploitation Inc Planned Asset Dispositions October 08, 2012 - Genel Energy Chia Surkh 10 Well Spud  October 08, 2012 - Solo Oil Industry Partner Sought October 08, 2012 - Maple Energy Notification of Share Dealings October 08, 2012 - Plexus Group GBP 1.15M Contract Win with Talisman Energy  October 08, 2012 - PA Resources UK Limited PA Resources’ Production Report for Q3, 2012 October 08, 2012 - Aminex Plc RUVUMA PSA FARM-OUT PROCESS October 05, 2012 - Dragon Oil Transaction in Own Shares  October 05, 2012 - Jupiter Energy Limited J-55 Drilling Results October 05, 2012 - Amerisur Resources Platanillo-5 Update  October 05, 2012 - Frontera Resources Director purchases shares October 05, 2012 - Tangiers Petroleum Ltd Issue of Equity October 05, 2012 - Bridge Energy ASA Completion of the Boa Field Acquisition October 05, 2012 - Ceramic Fuel Cells Change in director interests - Kennett  October 04, 2012 - Quadrise Fuels International Placing, Operational Update & Total Voting... October 04, 2012 - Gulf Keystone Petroleum Launch of an offering of convertible bonds  October 04, 2012 - Rialto Energy Ltd Rialto MD to Step Down During 2013 October 04, 2012 - Global Petroleum Directorate Change October 04, 2012 - Providence Resources Operational Update - Dalkey Island... October 04, 2012 - Ceres Power Holdings Funding Update October 04, 2012 - Coastal Energy Co Coastal Energy Announces Atwood Manta Rig... October 04, 2012 - Petroceltic International Satisfaction of regulatory approvals October 03, 2012 - Renewable UK Government decision step in the right... October 03, 2012 - Ceres Power Holdings Initial Tranche of funding  October 03, 2012 - Neon Energy Ltd Neon Secures Additionals Exploration Lease... October 03, 2012 - Tangiers Petroleum Ltd Share Purchase Plan October 03, 2012 - SacOil Operational Update October 03, 2012 - Dragon Oil Total Voting Rights October 03, 2012 - Exillon September Production Report October 03, 2012 - Caza Oil & Gas, Inc Operational Update October 03, 2012 - Green Dragon Gas Change in Currency  October 03, 2012 - Amerisur Resources Platanillo-5 Update  October 03, 2012 - Ceramic Fuel Cells German VPP includes 25 BlueGen units October 03, 2012 - Target Energy Limited Aggressive Drilling Campaign to Follow... October 03, 2012 - Cadogan Petroleum Plc Completion of Share Purchase Agreement Don't forget to visit our other website

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