Oilbarrel Newsletter 27th March 2013

Oilbarrel Weekly Roundup 13th - 27th March 2013 59th Oilbarrel Conference Thursday 16th May 2013 Sponsored By: Thursday 16th May 2013 ***NEW VENUE*** The Brewery Chiswell Street London EC1Y 4SD (Nearest stations are Moorgate, Barbican and Liverpool Street) SAVE THE DATE Click Here to Register or contact support@oilbarrel.com Master Investor 2013 - Register now!! Master Investor 2013, the UK’s leading investment show, returns on Saturday April 27th at the Business Design Centre in London. And as a Minesite subscriber you could be attending for free! To claim a free pair of tickets (worth £40) CLICK HERE and enter the Promotional Code OIL2013 For more details on the unrivalled speaker line up and exhibiting quoted companies visit the Master Investor website. Latest News News: March 27, 2013 Fastnet Oil & Gas Opens Data Room For Its Celtic Sea Acreage As It Readies For Large 3D Seismic Shoot To Built Portfolio Of Drill-ready Prospects, Including Kinsale Deep Providence Resources has been the catalyst behind a renewed surge of investment in the waters off Ireland, having unlocked the large Barryroe oilfield in the Celtic Sea and attached big names like ExxonMobil to a wildcat campaign.  Others are building on these successes, among them fellow AIM company Fastnet Oil & Gas.  With backing from some of the team behind Cove Energy, the AIM start-up that went stratispheric on the back of supergiant gas finds offshore Tanzania, Fastnet  has made a good start since its IPO in June 2012, securing large tracts of exploration acreage offshore Ireland and Morocco. Full story... News: March 27, 2013 InfraStrata Gears Up To Drill Its First Oil And Gas Exploration Wells While Not Abandoning its Gas Storage Projects Entirely The financials in the interim results for AIM listed InfraStrata plc for the six months ending January 31 2013 are nothing to write home about. But nobody thought that they would be. Losses fell from £1.18 million in the first half year to January 2012 to £0.79 million for the comparable period ending January 31 2013. InfraStrata is in the business right now of planning and building ambitious projects, so it is not generating lots of money. The important thing is it still has around £900,000 in cash, which is enough to pay the wages and other overheads while it gets on with its grand schemes. Full story... News: March 26, 2013 Two Thousand And Thirteen: A Key Year For Xcite Energy As Investors Await News Of CPR And Farm-Out Deals It is now ten years since Xcite Energy was awarded the Bentley heavy oilfield in the North Sea and what a roller-coaster ride it has been.  Fortunes have been made, and lost, as the AIM-quoted company worked towards bringing this 1977 ex-Amoco asset, one of the largest undeveloped oilfields in the North Sea, into production.  Xcite has now drilled three wells into the field – that makes seven altogether when adding in wells already sunk by former operators Amoco and Conoco – and the £325 million market cap company reckons the asset is now development ready, except for one key ingredient: finance. Full story... News: March 26, 2013 Condor Petroleum Flying High With Production From Kazakhstan’s Zharkamys West 1 Territory Things are definitely moving on up for Canada’s Condor Petroleum.The Calgary-based explorer, which last week released its 2012 results, is working a well-trodden oil path in Kazakhstan, where it is accumulating a nice oil patch Full story... News: March 25, 2013 TXO plc Plans Shallow Hole To Test Oil Seep Potential In Tasmania Shareholders in AIM micro-cap TXO plc are about to have their first exposure to the drillbit with a well readying to spud in the coming weeks on its acreage in Tasmania.  Before they get too excited, however, it's worth pointing out this isn't a full exploration well but a 12-inch pre-collar hole that is just going down 100 metres to test the oil seeps on the Mt Lloyd structure in EL14/2009. Full story... News: March 25, 2013 PetroNeft Resources Has A Sixth Successful Well In Siberia And Sorts Out Its Pressure Problems With Old Wells Phew, that’s all right then. The latest operations update from AIM quoted PetroNeft Resources about its Arbuzovskoye field on its 100 per cent owned Licence 61 in Tomsk Oblast, Russian Federation, says that mechanical problems encountered with two wells now seems to have been resolved. This has undoubtedly caused a sigh of relief amongst some shareholders. Full story... Market Overview: March 22, 2013 Oil Prices Hold Up Despite The Woes In Europe And The Banking Crisis In Cyprus Progress in the Chinese economy is once again being hailed as the part saviour  of the global economy. The oil price is holding strong despite the woes in Europe and the demise of the Cypriot banking sector. In early trading on Friday, Brent crude was holding above US$108 a barrel with WTI priced just over US$93 a barrel. Full story... Features: March 22, 2013 Budget 2013: Osborne Promises Certainty On North Sea Decommissioning Tax Relief And Delivers Fiscal Boost For Fledgling Shale Gas After the “omnishambles” of his last budget and against a backdrop of worsening economic gloom, Chancellor George Osborne didn't have the easiest job on Wednesday when he presented his 2013 budget.  The reception to the budget was mixed but, following the shock waves of the 2011 tax hike, this time the North Sea emerged unscathed. Full story... News: March 21, 2013 Cash-Rich Cairn Energy Joins Australia's FAR To Explore Offshore Senegal Since the blazing success of its ventures in India, Cairn Energy has seemed a little adrift as it seeks new places to spend its resulting riches.  There was a rather disappointing series of wells offshore Greenland in 2010 and 2011 and while the Edinburgh-based company, which retains a 10 per cent stake in its former Indian outfit worth US$1.1 billion, has added new exploration territories in Northwest Africa, the North Sea and the Mediterranean none have yet to deliver the firepower of its former territories in Rajasthan (although it wasn't until Cairn drilled a series of oil discoveries from 1999 onwards that the potential of this ex-Shell acreage in northwest India became apparent.) Full story... News: March 21, 2013 Suroco Energy Sees Steady Production From Southern Colombia’s Putumayo Basin Canadian junior Suroco Energy is enjoying steady oil flows from its core territory in Columbia.The Calgary-based outfit, which operates in southern Colombia’s Putumayo Basin, expects to average between 1,500 barrels of oil per day (bopd) and 1,900 bopd of production (net before royalty interest) during 2013.But there’s plenty of work still to be done before the year-end, including the drilling of up to seven wells this year, and facing up to stoppages because of local civil unrest. Full story... Features: March 20, 2013 Poweralternatives: Alkane Energy Becomes The UK’s Largest Coal Mine Methane Operator After Eighth Successive Year Of Growth Alkane Energy, the London AIM listed group, no longer calls itself an “alternative” energy producer,  but  has adopted the label of one of the UK’s fastest growing independent power producers. The change in description is well- merited since, although the company’s main operations continue to be  power production from it own sites based on coal mine methane (CMM) gas from abandoned coal mines, it has branched out into the lucrative area of power sourcing, as well as biogas. Full story... News: March 20, 2013 Central Petroleum Looks To The Future With Confidence After Company-Making Farm-Outs Of 2012 Two thousand and thirteen  looks set to be a big year for ASX-quoted Central Petroleum, building on the transformative farm-outs sealed in November 2012.  For years, the Australian small cap toiled to gain traction across its huge portfolio of frontier exploration acreage in the vast emptiness of central Australia but partner problems, dissident shareholders and funding shortfalls mean it was going nowhere fast Full story... News: March 19, 2013 Rialto Energy Still Weighed Down By Funding Concerns As November Deadline Looms In Cote d'Ivoire Australian E&P Rialto Energy's debut on AIM has been something of an ordeal for shareholders, with the shares losing 80 per cent of their value after a string of indifferent well results from its flagship project in Cote d'Ivoire.  With a new CEO, the ex-FD of Dominion Petroleum Rob Shepherd, and non-executive chairman, ex Shell and Standard Chartered executive Andy Bartlett,  the hope is the company will begin its recovery and yield some returns for shareholders from what remains a promising portfolio in West Africa. Full story... News: March 19, 2013 Liberia offshore opportunity gives Canadian Overseas Petroleum a shot at the big time It has been a big week for Canadian Overseas Petroleum Limited (COPL), which is listed on the TSX Venture Exchange.The Canadian junior has hooked up with big-time industry partner ExxonMobil to target an exciting frontier play off the coast of Liberia, a country just opening up following a succession of discoveries across the West African sub-region. Full story... News: March 18, 2013 Afren Reveals More Promising Test Results From The Simrit Discovery In Kurdistan As Erbil And Ankara Continue To Build Relations With Baghdad and Erbil still at loggerheads over oil revenue sharing, stifling exports from the fast-emerging oil power of Kurdistan, the Kurdistan Regional Government is increasingly looking to Turkey.  Oil started being trucked to Turkey in January and there are plans for a new pipeline, which could be online as early as next year, bypassing the the Baghdad-controlled export route altogether. Full story... News: March 18, 2013 North American Petroleum Teams Up With Magnolia Petroleum To Target Shale Oil In The US If you write about natural resources, hardly a week goes by these days without you receiving an invitation to go to a discussion or lecture or attend a forum on the way the shale gas phenomenon is revolutionising the energy mix in the US and will transform the economy because of cheap prices that the growing production of shale gas means. Full story...   Press releases March 27, 2013 - DECC GOVERNMENT SETS OUT PLANS TO CUT EMISSIONS... March 27, 2013 - Antrim Energy Inc. Antrim Energy Inc. Reports 2012 Results... March 27, 2013 - Talon Petroleum Talon announces President, CEO and... March 27, 2013 - Petrel Energy Petrel enters Cardium tight oil project March 27, 2013 - Petrel Energy Trading Halt March 27, 2013 - FAR Limited FAR Secures Additional Acreage Offshore Kenya March 27, 2013 - 3Legs Resources Notice of EGM and Shareholder Circular March 27, 2013 - Pantheon Resources Half Yearly Report March 27, 2013 - Rockhopper Exploration Proposed Cancellation of Share Premium... March 27, 2013 - EnQuest Plc Final Results March 27, 2013 - Sterling Energy Plc Publication of Report & Financial... March 27, 2013 - Global Energy Development 2012 Annual Results March 27, 2013 - Soco International Director/PDMR Shareholding  March 27, 2013 - TomCo Energy Plc Trading Update March 26, 2013 - Faroe Petroleum Final Results March 26, 2013 - Ithaca Energy Inc Full Year Results  March 26, 2013 - Xcite Energy Resources Limited Results for the Year Ended 31 December 2012  March 26, 2013 - President Energy Louisiana Update March 26, 2013 - Central Petroleum Ltd Surprise Reserve Report triggers... March 26, 2013 - Ophir Energy RESULTS OF RIGHTS ISSUE March 26, 2013 - Eland Oil & Gas Plc NOTIFICATION OF MAJOR INTEREST IN SHARES March 25, 2013 - 3Legs Resources Final Results March 25, 2013 - Providence Resources Notification of Interest in Share Capital March 25, 2013 - Matra Petroleum Results of 2D and 3D Seismic Survey  March 25, 2013 - Europa Oil & Gas Seismic Acquisition Commences on PEDL181,... March 25, 2013 - Bluebird Energy Adoption of new Investing Policy and new... March 25, 2013 - Tullow Oil plc Annual Financial Report  March 25, 2013 - Argos Resources Ltd 2012 Financial Results March 25, 2013 - Rialto Energy Ltd PRICE AND VOLUME QUERY: RIALTO ENERGY... March 25, 2013 - Afren Plc Recommended acquisition of 10.4% of First... March 22, 2013 - Enegi Oil Phoenix Block Update, UK North Sea March 22, 2013 - Mediterranean Oil & Gas Final Results March 22, 2013 - Tangiers Petroleum Ltd Full Year Statutory Accounts March 22, 2013 - Tangiers Petroleum Ltd ASX Lodgement of Full... March 22, 2013 - Sound Oil PLC Result of open offer March 22, 2013 - Rialto Energy Ltd Appendix 3B New issue announcement... March 22, 2013 - Enegi Oil Phoenix Block update, UK North Sea March 22, 2013 - Mediterranean Oil & Gas Final results  March 22, 2013 - Serica Energy Holdings in company March 21, 2013 - Mediterranean Oil & Gas Renewal of Gas Sales Contract with Repower... March 21, 2013 - TomCo Energy Plc Notice of Annual General Meeting March 21, 2013 - San Leon Energy Conversion of Aurelian options March 21, 2013 - Petroneft Resources Plc Operations Update March 21, 2013 - ... Important increase in... March 21, 2013 - VALIANT PETROLEUM Full Year Results for the Year ended 31... March 21, 2013 - Jubilant Energy Result of EGM and Appointment of Non... March 21, 2013 - Austin Exploration Project 500-Squared achieved March 21, 2013 - Bankers Petroleum Bankers Petroleum announces appointment  March 21, 2013 - Westmount Energy Half Yearly Report  March 21, 2013 - Jupiter Energy Limited Operations Update  March 21, 2013 - Aminex Plc Ruvuma Farm-out Update  March 21, 2013 - Petroneft Resources Plc Operations Update March 21, 2013 - Jupiter Energy Limited "Operations Update" BRR webcast  March 21, 2013 - Mediterranean Oil & Gas Renewal of Gas Sales Contract with Repower March 21, 2013 - TomCo Energy Plc Notice of AGM March 21, 2013 - TomCo Energy Plc Annual Financial Report March 20, 2013 - Chariot Oil and Gas Ltd Final Results March 20, 2013 - Bowleven Plc Interim Results Announcement March 20, 2013 - Geopark Holdings Ltd Successful Oil Wells in Colombia March 19, 2013 - Rialto Energy Ltd Final Director's Interest Notice March 19, 2013 - Maple Energy COMPANY UPDATE March 19, 2013 - Cairn Energy Preliminary Results  March 18, 2013 - Fastnet Oil & Gas 3D Seismic Contract Award  March 18, 2013 - TEG Group Final Results March 18, 2013 - Magnolia Petroleum Operational Update  March 18, 2013 - Infrastrata Prospectivity review and update for PL1/10... March 18, 2013 - Gasol Plc Loan Agreement  March 18, 2013 - Ophir Energy Jodari-1 DST Results March 18, 2013 - New World Oil & Gas 25% working interest at Danica Resources... March 18, 2013 - TXO Plc TOG Update - Pre-Collar Well to be Drilled  March 18, 2013 - Amerisur Resources Platanillo Update  March 18, 2013 - Amerisur Resources Reserves update  March 18, 2013 - BG Group Key project milestone with Everest East... March 18, 2013 - BG Group Excellent results from Jodari appraisal -... March 18, 2013 - Rockhopper Exploration Appointment of Technical Director  March 18, 2013 - Sterling Energy Plc Annual Results For The Year Ended 31... March 18, 2013 - Essar Energy Essar Energy appoints Deepak Maheshwari as... March 18, 2013 - San Leon Energy Strategic Relationship with Halliburton  March 18, 2013 - FX Energy Inc FX Energy Miesczewo-1K Well Flows Gas Don't forget to visit our other website

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