Oilbarrel Newsletter 31st January 2013

Oilbarrel Weekly Roundup 24th - 31st January 2013 Weekly Review Since we last wrote about our forthcoming conference at The Brewery in Chiswell Street in the City of London on February 7, a new company has joined the card. Australian Altona Energy is a small cap company with big ambitions. The company is developing a massive coal-to-liquids project in South Australia, where it has joined forces with China’s CNOOC. It has also acquired coal exploration licences in China. Also joining the cast is Dublin based Lansdowne Oil & Gas which is a player in one of the oil & gas world’s current hotspots – offshore Ireland. Lansdowne has a 20 per cent interest in Providence Resources breakthrough project, the Barryroe oilfield in the Celtic Sea, southeast Ireland. It is also is excited about recent 3D seismic on three of its other 100 per cent concessions offshore southern Ireland; in the Amergin, Midleton and SE Rosscarbery prospects. Lansdowne does not own any of the action in another exciting Irish Basin, where Rathlin Island sits in Northern Ireland. At the moment Providence has the blocks around the island to itself. But Providence will doubtless be looking for farm in partners, at some point, so the situation could change. Here, I must, as they say, declare an interest. Some years ago I wrote a novel called The Friends of Rathlin Island. The plot had a coalition government in the UK, a resurgent branch of the IRA and a group of adventurers who found oil around Rathlin. Recently, Tony O’Reilly’s Providence Resources announced it believed there was a P50 oil-in-place resources potential of around 530 million barrels of oil for its Polaris prospect, which lies in the Rathlin Sound just off the Northern Ireland coast. A drilling programme is planned for 2014. Irish brokers have said discoveries could be worth £36 billion. Is truth stranger than fiction? I hope so. It could be good for book sales. While I am shameless in promoting the book, leaving my special interest aside, the situation in Ireland is fascinating. The inclusion of Lansdowne in our February conference rounds off a strong card of at least five companies with varied interests. There is strong demand for places, so register now. 57th Oilbarrel Conference Thursday 7th February 2013 Sponsored By: Thursday 7th February 2013 ***NEW VENUE*** The Brewery Chiswell Street London EC1Y 4SD (Nearest stations are Moorgate, Barbican and Liverpool Street) Presenting Companies Include: Jupiter Energy Altona Energy Antrim Energy Petro Matad Lansdowne Oil & Gas Click Here to Register or contact support@oilbarrel.com Master Investor 2013 - Register now!! Master Investor, now in its eleventh year, is the UK’s leading investment show and is to be held on Saturday April 27th at the superb Business Design Centre in London. This year’s show builds on the success of previous years but boasts some big changes aimed at offering a wider focus with bigger opportunities. The show features a new "Rising Stars" stage hosted by Richard Reed that will be dedicated to highlighting and supporting innovative, unquoted companies that are often more difficult for the private investor to access. The line-up of guest speakers is the strongest yet with names such as Jim Mellon, Merryn Somerset Webb, Tim Price and James Ferguson already confirmed.  Tickets are priced at just £5 for a limited time only (normal price £20) and are selling fast. To find out more information and to book your ticket please register here! AffroInvest Oil & Gas Summit, London February 28th - March 1st 2013   Discuss the Unlocking of Finance for Africas Oil and Gas Industry with over 200 key players from 30 plus countries in London. Speakers include international and indigenous Oil and Gas Companies, National Oil Companies, IFC, World Bank, British Venture Capital Association, African Development Bank, AFREXIM bank and a number of international and local banks.  In addition there will be various African Government participants including Government Ministers and Directors of Ministries from oil producing countries. The conference will be broadcast by CNN and CNBC Africa and will include over 20 supporting media partners. There will be extensive press coverage from The Wall Street Journal, Thomson Reuters and we are also glad to confirm over 20 media partners supporting the event.  Don't miss out on this opportunity; AfroInvest Oil & Gas Summit 2013 - February 28th to March 1st 2013 at the 5 star Intercontinental, Park Lane, London, United Kingdom. Brokers Reports January 30, 2013 - Providence Resources Oriel Securities January 25, 2013 - Range Resources Old Park Lane Capital January 25, 2013 - Xcite Energy Resources Limited Fox-Davies Capital - Factsheet January 24, 2013 - Range Resources Old Park Lane Capital January 23, 2013 - Sound Oil PLC Fox-Davies Capital - Factsheet January 21, 2013 - Rialto Energy Ltd Fox-Davies Capital - Factsheet January 10, 2013 - Andes Energia Old Park Lane Capital Latest News News: January 31, 2013 EnQuest Innovates New Funding Method As funding issues continue to weigh on companies across the oil sector, North Sea producer EnQuest last week showcased an innovative way to raise long term funding when it became the first oil company to issue a retail bond. The FTSE250 company is targeting squeezed savers to raise north of £100 million to develop its portfolio of assets in the UK North Sea, with the bonds offering a coupon of 5.5 per cent per annum until 2022. Full story... News: January 31, 2013 Canada’s Pan Orient Energy Basks In The Limelight After Successful Thailand Oil Well Shares are riding high at Canadian junior Pan Orient Energy after it announced a new oil pool find onshore Thailand on January 23, which is now being into production Full story... News: January 30, 2013 Leni Gas & Oil Hits Production Targets In Trinidad & Tobago To Get 2013 Off To A Good Start After the disappointing performance of its former flagship project in Spain, for which it is still seeking a buyer, and the embarrassment of its exit from Malta, now subject to legal proceedings, investors must be relieved that Leni Gas & Oil finally seems to have found its niche. The AIM micro-cap is making solid gains in Trinidad, where production has now exceeded management expectations. Full story... News: January 30, 2013 Leyshon Resources Accelerates Its Drill Programme In China’s Ordos Basin, Following Two Successful Wells In 2012 “We’ve drilled two wells, and hit two lots of potential payzones”, says Leyshon’s Paul Atherley. “That’s the successful and easy bit. The hard bit is about to happen – can we get commercial gas flow?” Full story... News: January 29, 2013 GeoPark Holdings Posts Robust Results As Its Newly Acquired Colombian Operations Make Their Mark On The Bottomline Despite the political risk attached to any operation with exposure to South America, particularly Argentina, GeoPark Holdings continues to go from strength to strength. The AIM-quoted company has posted a strong set of results for the nine months to the end of September, with revenues up 147 per cent at US$182 million, EBITDA up 130 per cent at US$94.8 million and net income of US$24 million. Full story... News: January 29, 2013 Caza Oil & Gas Announces Details Of Further Drilling On Its Successful Bone Spring Prospects TSX and Aim-listed Caza Oil & Gas, CEO Mike Ford, has been through London in January bringing investors up to date on progress with its Bone Spring drilling programme. Full story... Features: January 28, 2013 Poweralternatives:Alkane Energy Puts Out An Upbeat Trading Statement Ahead Of The Full Year Results On The Back Of The Greenpark Acquisition When we wrote about the interim results for Alkane Energy, the independent  UK gas to power producer last September we said the group’s second half 2012 figures looked like being a lot stronger than the first six months. Full story... News: January 28, 2013 Faroe Petroleum Expands In Norway As It keeps Busy With The Drillbit In 2013 Faroe Petroleum has extended its acreage position in Norway, already home to some of its most significant discoveries, after securing eight prospective exploration licences in the 2012 APA Licence Round. Two of the new licences are in the Northern North Sea, where it will operate with 40 per cent the Firkløver licence, where it hopes to target Lower Cretaceous sands that are a proven play model on the UK side of the border but relatively immature on the Norwegian Continental Shelf. The AIM company will also have a 13.4 per cent stake in the Statoil-operated Brage extension licence, next door to the producing Brage Sognefjord field. Full story... Market Overview: January 25, 2013 Oil Prices Hold Steady On The Back Of Positive Data From The US And China The oil price has been holding steady in recent weeks as positive data from the US and China, the two major oil-consuming countries remained positive. Strength in the manufacturing sector has been an encouraging indicator. In early trading on Friday, Brent crude was priced just above US$113 with WTI close to US$96 a barrel. Full story... News: January 25, 2013 Two Thousand And Thirteen Is A Big Year For Providence Resources And Lansdowne Oil & Gas Offshore Ireland Two Thousand Thirteen is shaping up to be a big year for Providence Resources, the AIM-quoted E&P which looks set to not only transform its own fortunes but also those of offshore Ireland following last year's breakthrough Barryroe oil discovery in the Celtic Sea. Providence's tenacity at working up its acreage, bringing in big name partners and pushing ahead with a multi-well campaign have reinvigorated activity levels offshore Ireland, a region that has had its share of boom and bust cycles over the decades. Today with high commodity prices, improved infrastructure, a highly attractive fiscal regime and that key first commercial oil strike, backers of offshore Ireland are hoping for a sustained boom. Full story... Press releases January 31, 2013 - Ceres Power Holdings Block Listing Returns  January 31, 2013 - Karoon Gas Quarterly Activities Report & Appendix 5B January 31, 2013 - Karoon Gas Karoon oil discovery results & forward... January 31, 2013 - Ceramic Fuel Cells Cashflow Report for the December Quarter  January 31, 2013 - Texon Petroleum Ltd 31 December 2012 Quarterly Report January 31, 2013 - Norwest Energy NL Quarterly Activities Report January 31, 2013 - Tangiers Petroleum Ltd Quarterly Report December 2012 January 31, 2013 - Norwest Energy NL Quarterly Cashflow Report January 31, 2013 - Tethys Petroleum Tethys Doubles Gas Price in Kazakhstan January 31, 2013 - San Leon Energy Completion of Foum Draa Farm-Out, Offshore... January 31, 2013 - PA Resources UK Limited Change in number of shares and votes in PA... January 31, 2013 - Tower Resources plc Namibia Licence Completion January 31, 2013 - Rialto Energy Ltd Quarterly Activities Report  January 31, 2013 - Rialto Energy Ltd Quarterly Cashflow Report  January 31, 2013 - Faroe Petroleum Discovery at the Rodriguez well January 31, 2013 - Red Emperor Resources Quarterly Activities and Cashflow Report January 30, 2013 - Greka Drilling Limited 2012 Operational Review  January 30, 2013 - Xcite Energy Resources Limited Extension to Maturity Date of Unsecured... January 30, 2013 - Afren Plc Notification of Major Interest in Shares  January 30, 2013 - Gold Oil Plc Holding(s) in Company  January 30, 2013 - Tullow Oil plc Holding(s) in Company  January 30, 2013 - Wasabi Energy Secured Loan Note and Issue of Equity January 30, 2013 - Jupiter Energy Limited Quarterly Update  January 30, 2013 - Victoria Oil & Gas Plc Operations Update & Societe Generale... January 30, 2013 - Xcite Energy Resources Limited Extension to Maturity Date of Unsecured... January 30, 2013 - President Energy Operational Update  January 30, 2013 - Trap Oil Signing of US$20 million Borrowing Facility  January 30, 2013 - Heritage Oil Plc Update on Operations January 30, 2013 - Northcote Energy Operations Update January 30, 2013 - Coastal Energy Co Coastal Energy Announces Insider... January 30, 2013 - Oilex Ltd Resignation and Appointment of Company... January 29, 2013 - IGas Plc Director/PDMR Shareholding  January 29, 2013 - Magnolia Petroleum Issue of Options January 29, 2013 - Ceramic Fuel Cells Agreement Signed with Energy Company iPower January 29, 2013 - Maple Energy Pricing and placing of ordinary shares  January 29, 2013 - Gold Oil Plc Holding(s) in Company January 29, 2013 - Bayfield Energy Holding(s) in Company January 29, 2013 - Antares Energy December 2012 Monthly Production Report January 29, 2013 - AWE Limted New wells in New Zealand January 29, 2013 - Beach Energy Quarterly Activities Report January 29, 2013 - TXO Plc TOG Joint Venture Update  January 29, 2013 - Oilex Ltd QUARTERLY REPORT TO SHAREHOLDERS 31... January 29, 2013 - Leni Gas & Oil Plc Production Update, Trinidad  January 29, 2013 - Aminex Plc Ruvuma Farm-out Update  January 29, 2013 - PA Resources UK Limited Final result of PA Resources’ rights issue... January 28, 2013 - Providence Resources Notification of Interest in Share Capital  January 28, 2013 - Magnolia Petroleum Directors' Dealings  January 28, 2013 - TomCo Energy Plc Appointment of Joint Broker / Liquidity... January 28, 2013 - Dragon Oil Signing of Contract for Iraqi Exploration... January 28, 2013 - Bayfield Energy Restoration - Bayfield Energy Holdings Plc January 28, 2013 - Geopark Holdings Ltd Operational Update January 28, 2013 - Max Petroleum Drilling Update January 28, 2013 - Nostra Terra Oil & Gas Company PLC Drilling Report January 28, 2013 - JKX Oil & Gas SUCCESSFUL PLACING OF US$40M CONVERTIBLE BOND January 25, 2013 - Texon Petroleum Ltd Demerger and Acquisition Documents Despatched January 25, 2013 - PA Resources UK Limited Preliminary result of PA Resources’ rights... January 25, 2013 - Karoon Gas Karoon discovers oil in the Kangaroo-1... January 25, 2013 - Xcite Energy Resources Limited Exercise of Share Options January 25, 2013 - Oilex Ltd JPDA06-103 PRODUCTION SHARING CONTRACT -... January 25, 2013 - Valiant Petroleum Timon Well Operations January 25, 2013 - Madagascar Oil Posting of Placing and Open Offer Document  January 25, 2013 - Urals Energy Notice of AGM January 25, 2013 - Geopark Holdings Ltd Third Quarter Results  January 25, 2013 - Range Resources Strategic Stake in Citation Resources  January 25, 2013 - San Leon Energy Scheme Effective  January 24, 2013 - Magnolia Petroleum Appointment of Chief Financial Officer January 24, 2013 - Magnolia Petroleum Operational Update  January 24, 2013 - Zeta Petroleum Plc Targeting Increase in Gas Production on... January 24, 2013 - Mediterranean Oil & Gas Grant of Options January 24, 2013 - Gold Oil Plc Restoration - Gold Oil Plc  January 24, 2013 - Range Resources Trinidad Update January 24, 2013 - Amerisur Resources Colombia Update January 24, 2013 - Austin Exploration Pathfinder C11-12 No.1 HZ well flows... January 24, 2013 - Antares Energy Operational Report January 24, 2013 - Providence Resources NEW DATA CONFIRM SIGNIFICANT OIL POTENTIAL... January 24, 2013 - Sound Oil PLC Existing Placement & Open Offer Don't forget to visit our other website

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