Oilbarrel Newsletter 31st July 2013

Oilbarrel Weekly Roundup 24th - 31st July 2013 61st Oilbarrel Conference Tuesday 3rd September 2013 Sponsored By Tuesday 3rd September 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 If you are interested in Speaking or Sponsoring an Oilbarrel event  please contact; Paul Newman - Paul@oilbarrel.com  T: 02075625422   Latest News News: July 31, 2013 Ascent Resources Disposes Of Its Italian Portfolio As Investors Anxiously Await For News Of Key Slovenian Signatures The sell-off continues at under pressure small cap Ascent Resources, which recently announced the disposal of its assets in Italy. Regular readers will be aware that at one time Ascent's Italian properties were the subject of much hope when it seemed the company had fortuitously struck oil with the Anagni-1 well in 2006, when the shares were trading at around 15 pence.Unfortunately for its beleaguered shareholders, who are now holding stock that trades at less than a penny, the well only ever produced a dribble of oil and further investment in seismic and a follow-up well, Fontana-1, only served to highlight the complexity of the geology here.  Elsewhere in Italy, the AIM-quoted company's Gazzatta prospect in the Po Valley came back empty handed while the promising Ripi oilfield redevelopment lay fallow on the books Full story... News: July 30, 2013 Tower Resources Announces £13 Million Placing And Open Offer As It Begins Six Month Countdown To Key Well Offshore Namibia Tower Resources has announced a placing and open offer to raise £13.1 million in order to secure its seat in a high profile wildcat off the coast of Namibia and pursue new ventures in Africa.  CEO Graeme Thomson, who joined Tower in 2012 with a CV that includes NED of Desire Petroleum, ex-CEO of of Sterling Energy and former CFO of Dragon Oil, cheered the raise against a backdrop of tough market conditions Full story... News: July 30, 2013 Ophir Energy Adds More Gas Resources Offshore Tanzania’s Block 1 with Mkizi Well More good news for followers of Ophir Energy, the UK-listed company riding on the current wave of exploration success off eastern AfricaA string of major discoveries in recent years by Ophir and others has turned this frontier region into a major upcoming gas province.Within a few years, Tanzania and Mozambique look set to become major liquefied natural gas (LNG) exporters to the world Full story... News: July 29, 2013 New CPR Adds Another Billion Barrels Of Prospective Resources To Argos Resources' North Falkland Basin Block Having crunched through its 3D data set, described by managing director John Hogan as the best quality he's seen in his 35 year career, AIM-quoted Argos Resources has delivered a massive uplift in prospective resources for its acreage in the North Falkland Basin.  A CPR from Senergy gives the block a new best estimate prospective resource of more than 3 billion barrels of recoverable oil, up by almost a billion on the last CPR in 2011, while the high case estimate now tops 10 billion barrels Full story... Features: July 29, 2013 Poweralternatives:Blue Sea Thinking: Why some forward thinkers believe the future of CCS lies offshore Carbon capture and storage is one of those much discussed but little seen technologies.  Although IEA analysis suggests the technology could account for around one-fifth of required emissions reductions in 2050, the significant investment required to deliver the more than 3,000 CCS projects needed to capture that volume of C02 has yet to materialise.  As of last year, according to the Global CCS Institute, there were 75 large scale integrated CCS projects around the world, but only 15 were operational or under construction, with the rest on the planning stage. It's a technology that looks good on the drawing board but too often stumbles when it comes ahead of final investment decision, partly because the capital costs are eye-watering Full story... Market Overview: July 26, 2013 Oil Prices Hold Up Despite Gloomy Predictions For Chinese Economy The state of the Chinese economy dominated the economic headlines this week but the oil market held up despite gloomy predictions. It was a mixed outlook for the rest of the world and in early trading on Friday; Brent crude was just below US$107 with WTI trailing close behind not far off US$105 a barrel. Full story... News: July 25, 2013 Bahamas Petroleum Rallies As Investors Hope Licence Extensions Will Facilitate Farm-Out Ahead Of Maiden Drilling In 2014 Shares in Bahamas Petroleum Company traded more than ten per cent higher on Monday when the AIM-quoted explorer announced its five licences in the The Bahamas have been renewed.  This matters not only because it gives the small cap more time to raise the funds to drill its maiden well in these virgin waters but because it also further cements the validity of the licences, an issue that regular readers will know has weighed on the stock over the past year. Full story... News: July 25, 2013 Serinus Energy Secures Long-Term Financing For Tunisian Upstream Development TSX newcomer Serinus Energy got a big boost this week after the European Bank for Reconstruction and Development (EBRD) approved US$60 million in cash for one of its upstream projects.The long-term financing will support the development of the company's Tunisian oil and gas assets Full story... News: July 24, 2013 Ithaca Energy Enjoying Strong Production Growth in 2013 After Completing Valiant Petroleum Acquisition After a volatile year-and-a-half or so, one filled with acquisitions and potential takeovers, North Sea specialist Ithaca Energy is sitting pretty as it moves into the latter half of 2013.When we last featured the Calgary-headquartered company in March of this year, it had announced a £203 million bid for Valiant Petroleum, which has now been completed. Full story... News: July 24, 2013 Providence Resources Dented As Dunquin Wildcat Hits Water Not Oil Shares in Providence Resources took a hit on Monday, sliding 57.5 pence to 480 pence, on news that a much-anticipated wildcat had come back empty handed.  The supergiant Dunquin prospect in the southern Porcupine Basin off Ireland's west coast had long intrigued the industry because of its sheer scale: there had been talk that success here could transform European energy flows. Full story... Press releases July 31, 2013 - Norwest Energy NL Change of Name July 31, 2013 - Tullow Oil plc Half Yearly Results  July 31, 2013 - Norwest Energy NL Quarterly Activities Report July 31, 2013 - Norwest Energy NL Quarterly Cashflow Report July 31, 2013 - Zeta Petroleum Plc Quarterly Activities Report July 31, 2013 - Zeta Petroleum Plc Quarterly Cashflow Report July 31, 2013 - Wasabi Energy Appendix 4C  July 31, 2013 - Red Emperor Resources Quarterly Activities and Cashflow Report July 31, 2013 - Rialto Energy Ltd Rialto Energy Limited Quarterly Activities... July 31, 2013 - Rialto Energy Ltd Resignation of Chief Operating Officer July 31, 2013 - Frontier Resources International Plc Operational Update: Namibia  July 31, 2013 - Global Petroleum Quarterly Report July 31, 2013 - JKX Oil & Gas Progress Report on R-103 Frac in Ukraine July 31, 2013 - Genel Energy Half Yearly Report July 31, 2013 - Nighthawk Energy plc Purchase of WI in Smoky Hill & Jolly Ranch  July 31, 2013 - Ithaca Energy Inc Norvarg Appraisal Well Results  July 31, 2013 - Tullow Oil plc Half Yearly Results  July 31, 2013 - Rockhopper Exploration Blocklisting Interim Review July 31, 2013 - Rockhopper Exploration Total Voting Rights July 31, 2013 - Ceramic Fuel Cells Cashflow Report for the June Quarter  July 30, 2013 - Plexus Group Pre-Close Trading Update July 30, 2013 - Ascent Resources Issue of Equity July 30, 2013 - Premier Oil Exploration drilling update - Lacewing  July 30, 2013 - Beach Energy Quarterly Activities Report July 30, 2013 - Beach Energy FY13 Production and Capex Guidance July 30, 2013 - Jubilant Energy Notice of AGM  July 30, 2013 - Good Energy Result of Placing and Open Offer July 30, 2013 - AWE Limted AWE's June 2013 Quarterly Report July 30, 2013 - Norwest Energy NL Arrowsmith 2 Update July 30, 2013 - Neon Energy Ltd Quarterly Report and Vietnam Update July 29, 2013 - Tethys Petroleum Tethys Petroleum Limited: Extended... July 29, 2013 - Ophir Energy Tanzania Block 1: Mkizi gas discovery July 29, 2013 - Circle Oil plc Offshore Mahdia Exploration Concession July 29, 2013 - President Energy Argentina Operational Update  July 29, 2013 - Gasol Directorate Change July 26, 2013 - Empyrean Energy Principal Office Change  July 26, 2013 - Urals Energy Passive Seismic Survey at Articneft July 26, 2013 - Egdon Resources Planning Approval for Burton on the Wolds-1  July 26, 2013 - Enegi Oil North Sea Update - Block 3/23a July 26, 2013 - Argos Resources Ltd New Competent Person's Report  July 26, 2013 - BG Group Half Yearly Report  July 26, 2013 - Tower Resources plc Issue of Warrants July 26, 2013 - Exillon Energy TR-1: Notification of Major Interest in... July 26, 2013 - Soco International Notice of Results July 26, 2013 - Maple Energy HOLDINGS IN COMPANY  July 26, 2013 - Central Petroleum Ltd Placement Stabilises Equity Register July 26, 2013 - CBM Asia Development Corp CBM Asia Announces CAD5.0 Million... July 25, 2013 - Magnolia Petroleum Excellent Production at 2nd Jake Well, N.... July 25, 2013 - Circle Oil plc Beni Khaled Production Licence Farm-In  July 25, 2013 - Tower Resources plc Placing of £9m - Open Offer - Interim Results July 25, 2013 - Faroe Petroleum Notification of Director's interests July 25, 2013 - Maple Energy HOLDINGS IN COMPANY July 25, 2013 - Lansdowne Oil & Gas Operational Update July 25, 2013 - Providence Resources Operational Update Barryroe July 25, 2013 - Oilex Ltd Canning Basin SPA-0055 Update July 24, 2013 - Alkane Energy Plc Acquisition of Licence and Third Party... July 24, 2013 - Europa Oil & Gas Director's Dealings July 24, 2013 - Mediterranean Oil & Gas Acquisition of Interest in Offshore Malta... July 24, 2013 - Range Resources Merger Update - Potential Sale of Russian... July 24, 2013 - Northern Petroleum Plc Directorate Change July 24, 2013 - Falcon Oil & Gas Ltd Statement re Possible Offer July 24, 2013 - Faroe Petroleum Director/PDMR Shareholding July 24, 2013 - IGas Plc Issued Share Capital  July 24, 2013 - IGas Plc Share Incentive Plan July 24, 2013 - Jubilant Energy Successful Test Results July 24, 2013 - Enegi Oil Fyne Oil Field Update  July 24, 2013 - Enegi Oil Newfoundland Farm-In Completed and £2.018m... Don't forget to visit our other website

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