Oilbarrel Newsletter 25th April 2013

Oilbarrel Weekly Roundup 17th - 25th April 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) Presenting Companies Include: Hyperdynamics Nighthawk Energy Trinity Exploration & Production Sea Dragon Energy 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: April 25, 2013 Backed By Tullow Oil, NYSE-listed Hyperdynamics Eyes First Drillbit Test Of Submarine Fan Play In Guinean Waters Within 12 Months For a company keen to position its frontier acreage as part of the West Africa Transform Margin play, NYSE-quoted Hyperdynamics Corp could have done no better in its choice of farm-in partner.  In November 2012 the Texan explorer, which holds a giant exploration block in the deepwaters off the Republic of Guinea, bagged as 40 per cent partner and operator London's Tullow Oil, one of the pioneers of the deepwater fan play that transformed geological models along Atlantic coastlines in West Africa, South America and Northwest Europe. Full story... News: April 25, 2013 A New Rig And Pumps Should See Leni Gas & Oil Improve Output Markedly From Its Goudron Field In Trinidad The recent news that AIM listed Leni Gas & Oil has mobilised a second work-over rig, Altech-2, and 10 new pump jacks have arrived in Trinidad to work on the company’s Goudron oil field, has been well received by Barney Gray the analyst at Leni’s house broker, Old Park Lane Capital. Full story... Features: April 24, 2013 Poweralternatives: Oxford Catalysts Group Lands US$8 Million Order For FT Reactors To Support 1,400 Bpd GTL Plant As evidenced by its stratispheric share price rise over the past year, the inking of Oxford Catalyst Group's first commercial order had long been factored into the stock. Indeed, the company, which is due to present at Oilbarrel.com's May conference in London, first raised expectations in September 2012 when it signed a contract for a mooted GTL plant in Pennsylvania. But the big breakthrough came two months later when in November 2012 it signed a strategic alliance with Texan engineering group Ventech Engineers International to design and deliver modular GTL plants Full story... News: April 24, 2013 Cygam Energy Grows Mediterranean Business On The Back Of Tunisia’s TT Field With a presence on both sides of the Mediterranean Sea, Canadian indie Cygam Energy is looking to tap into the rise in prominence of this important, and growing, oil and gas province.North Africa has long been a key supplier of oil and gas to the hungry European market. And the discovery of huge gas deposits off Israel in recent years bodes well for the further development of this large producing - and consuming - region. Full story... News: April 23, 2013 Canadian Junior Edge Resources Chalks Up A Drilling Success On Its Asset East Acreage When Brad Nichol, the President and CEO of TSX Venture Exchange listed Edge Resources, was in London in early March, seeing brokers and fund managers, he told Oilbarrel that he was greatly excited about the prospects for the company’s second quarter 2013 drilling programme in Asset East (which was announced on February 27, 2013). Full story... News: April 23, 2013 Neon Energy Hit By Water Disposal Issues At North San Ardo But Investors Look Ahead To Vietnam Wildcats According to the stock chart, it has been a difficult six months for ASX-quoted Neon Energy, which has heavy oil operations in California and exploration acreage offshore Vietnam.  After mounting excitement about the prospectivity of its Vietnamese acreage, which culminated in last year's farm-out to Italian energy giant ENI, the stock has drifted down as its Californian assets ran into difficulties, with a challenging testing programme at the  Paloma Deep discovery and water handling issues at the North San Ardo heavy oilfield.  This knocked output numbers for the final six months of 2012, down 52 per cent at 236 barrels per day, while revenues of A$3.9 million were down 55 per cent, below analysts' expectations.  Profits were also hit by a near doubling of field operating expenses. Full story... News: April 22, 2013 Bowleven Underpins Etinde Economics As IM-5 Test Results Surpass Expectations For the best part of a decade Edinburgh's Bowleven plc has been striving to pull together a commercial development for its geologically-complex but resource-rich Etinde permit offshore Cameroon.  Nine years on from its 2004 IPO and the project is finally gaining real traction, with the AIM-quoted company inking a strategic alliance with leading contractor Petrofac, opening access to US$500 million towards phase one development costs, and agreeing gas sales terms with fertiliser company Ferrostaal.  This momentum was maintained last week when test results from the IM-5 well exceeded management expectations, confirming the commercial viability of the liquids-rich IM field Full story... News: April 22, 2013 Europa Oil & Gas Gains As Kosmos Energy Makes Its Debut Offshore Ireland Shares in Europa Oil & Gas jumped more than 18 per cent last Thursday after the AIM-quoted explorer landed a heavyweight partner for its frontier exploration licences off Ireland's west coast.  After a few dismal years of drift and disappointment, Europa in 2011 started to reshape its portfolio and the award of the 11/7 and 11/8 licensing options in the South Porcupine Basin was a key part of this (as was the decision of incoming CEO Hugh Mackay to exit Romania, the scene of so many past disappointments), marking a real departure from the small cap's usual onshore low risk projects Full story... Market Overview: April 19, 2013 All Analysts Eyes Will Be On China Demand Following The Sharp Drop In Oil Prices The sharp fall in oil prices this week has worried the market. Brent crude fell below the magic three-digit number of a hundred and analysts are concerned that the sell off will continue. In early trading on Friday, Brent crude was still holding on above US$99 a barrel with WTI higher than US$88 a barrel. Full story... News: April 18, 2013 Shale Gas Explorer Tamboran Seeks A$19.9 Million Seed Finance As It Eyes 2014 IPO Tamboran is readying its balance sheet to take its early stage exploration portfolio to the next level.  The Sydney-based shale gas explorer is raising seed financing of up to A$19.9 million to fund three vertical wells – two in the Ngalia and Pedirka Basins in Australia and one in the Lough-Allen Basin in Ireland/Northern Ireland – ahead of an IPO, currently slated for H1 2014.  At that point, the company, which is currently sitting on 22.6 million net acres of frontier acreage, hopes to have converted some of the speculative P50 gas-in-place estimate of 149 TCF into prospective resources and contingent reserves and will target a potential A$150-A$200 million raise. Full story... News: April 18, 2013 South Omo Sidetrack Dents Tullow Oil As Investors Face Another Month Of Drilling On Its First Wildcat In Ethiopia  News that Tullow Oil's first well in Ethiopia is proving to be a long and expensive drill dented the shares on Monday, which lost 54 pence, or 4.66 per cent, in morning trading. The Sabisa-1 well in the South Omo Block has reached a depth of 1,810 metres, encountering hydrocarbon indicators in sands beneath a thick claystone layer, but hole instability issues have required the drilling of a sidetrack. This work is already underway and results are now due in late May. Full story... News: April 17, 2013 GeoPark Holdings Delivers Another Strong Year As Its Colombian Acquisitions Contribute To 124 Per Cent Jump In Revenues AIM-quoted GeoPark Holdings spent over US$100 million in 2012 adding a Colombian leg to its business – it also, wisely, shrank its exposure to Argentina – in a move that is already paying dividends through increased production and cash flows.  Revenues jumped 124 per cent to US$250 million and net income was up 264 per cent at US$18 million as the company digested increased output from its existing asset base in Chile and the newly acquired acreage in Colombia. Full story.. Press releases April 25, 2013 - Hurricanr Energy Hurricane announces rig contract for... April 25, 2013 - Magnolia Petroleum Operations Update April 25, 2013 - Geopark Holdings Ltd Operations start up in Tierra Del Fuego April 25, 2013 - Ascent Resources Disposal of interest in PetroHungaria Kft April 25, 2013 - Regal Petroleum Final Results April 25, 2013 - Ophir Energy TR-1: Notification of major interest in... April 25, 2013 - 3Legs Resources Holding(s) in Company  April 25, 2013 - Cadogan Petroleum Plc Annual Financial Report  April 24, 2013 - Oxford Catalysts Holding(s) in Company April 24, 2013 - JKX Oil & Gas Notice of AGM April 24, 2013 - Bridge Energy ASA Annual Report and Accounts 2012 April 24, 2013 - PA Resources UK Limited PA Resources’ Interim Report January -... April 24, 2013 - Wentworth Resources Operations Update April 24, 2013 - Sound Oil PLC Project Update April 23, 2013 - FX Energy Inc FX Energy Testing Tuchola-3K and Plawce-2... April 23, 2013 - Providence Resources OPERATIONAL UPDATE DUNQUIN WELL  April 23, 2013 - Magnolia Petroleum Final Results  April 23, 2013 - InfraStrata plc Resignation of Director April 23, 2013 - Tullow Oil plc French Guiana operational update  April 23, 2013 - Wessex Exploration Plc Drilling Report April 23, 2013 - Exillon Energy Interim Management Statement April 23, 2013 - Rialto Energy Ltd Rialto Secures Vitol as partner in West... April 23, 2013 - Cadogan Petroleum Date of 2012 Annual Results Announcement April 23, 2013 - Providence Resources OPerations Update Dunquin Well April 22, 2013 - Sea Dragon Energy Inc Sea Dragon acquires a new exploration... April 22, 2013 - Zeta Petroleum Plc Data Sharing Agreement with Chevron in... April 22, 2013 - Circle Oil plc Appointment of Non-Executive Director  April 22, 2013 - Sound Oil PLC Successful Rapagnano Commissioning April 22, 2013 - Petroceltic International Preliminary Results Announcement  April 22, 2013 - Alkane Energy Plc Publication of Report & Accounts April 22, 2013 - Oilex Ltd OILEX Investor Presentation April 2013  April 22, 2013 - Roxi Petroleum Plc Operational update April 22, 2013 - Chariot Oil and Gas Ltd Grant of Options April 22, 2013 - Volga Gas plc Annual Report and Accounts and Notice of... April 22, 2013 - Ithaca Energy Inc Consideration Shares AIM Admission April 22, 2013 - Max Petroleum Drilling Update  April 22, 2013 - Sound Oil PLC Successful Rapagnano Commissioning... April 22, 2013 - Petroceltic International Preliminary Results Announcement April 22, 2013 - Gulf Keystone Petroleum Director's Shareholdings April 22, 2013 - Circle Oil plc Appointment of Non-Executive Director April 19, 2013 - Helius Energy Accreditation and Opening of Rothes Plant April 19, 2013 - Empyrean Energy Production and Operational Update April 19, 2013 - Nighthawk Energy plc Operational Update  April 19, 2013 - San Leon Energy Czaslaw-1 Stimulation and Test  April 19, 2013 - Chariot Oil and Gas Ltd Notice of AGM  April 19, 2013 - New World Oil & Gas Operations Update, Denmark  April 19, 2013 - Bowleven Plc IM-5 testing update April 19, 2013 - Petroceltic International New Egyptian Exploration Licence Awards  April 19, 2013 - Cadogan Petroleum Plc GPS Litigation Update April 19, 2013 - Oilex Ltd Canning Basin Special Prospecting... April 19, 2013 - Chariot Oil and Gas Ltd Notice of Agm April 18, 2013 - Alkane Energy Plc Holding(s) in Company  April 18, 2013 - Antrim Energy Inc. Farmout of Skellig Block in the Porcupine... April 18, 2013 - Greka Drilling Limited Well Completion  April 18, 2013 - Europa Oil & Gas Kosmos Energy to Farm-in to Europa’s Irish... April 18, 2013 - Amerisur Resources Platanillo Update April 18, 2013 - Nighthawk Energy plc Result of AGM April 18, 2013 - Max Petroleum Holding(s) in Company  April 18, 2013 - Soco International Operations Update April 18, 2013 - President Energy Paraguay Update -Commencement of Seismic... April 18, 2013 - JKX Oil & Gas Annual Report & AGM Don't forget to visit our other website

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