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Wednesday, August 21, 2013

Oilbarrel Newsletter 21st August 2013

Oilbarrel.com Informed comment and independent oil and gas   news
Oilbarrel Weekly Roundup 14th - 21st August 2013
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Latest News

News: August 21, 2013

Central Petroleum Raises A$10 Million And Prepares Share Consolidation As It Readies For Potentially Transformational Year

Running a successful oil company isn't just about drilling the right holes in the right places; there also needs to be stringent governance and good corporate husbandry to make sure shareholder funds are spent wisely.  This is why the transformation of ASX-quoted Central Petroleum, which little more than 12 months ago was on its knees due to funding constraints, boardroom wrangles and partner problems, can't be assured without strengthening the balance sheet and addressing the weaknesses of its capital structure.

Full story...

News: August 21, 2013

Canada’s Shamaran Petroleum Considering Financing Options For Kurdistan Atrush Oil Project

TSX Venture-listed Shamaran Petroleum is another aspiring junior oil company with an eye on Iraq’s oil-rich northern Kurdistan region. A huge, emerging oil province, no one questions the hydrocarbon riches on offer in this semi-autonomous land; the catch is the regional administration’s spiky relationship with the federal government of Iraq.

Full story...

News: August 20, 2013

Aminex Gains As It Signposts Progress To Gas Monetisation In Tanzania

Ahead of its interim results at the end of the month, Aminex which maintains a full listing on the LSE, has issued a trading update on its activities in Tanzania, prompting a 10 per cent surge in the share price in afternoon trading. Although progress in Tanzania has been slower, and patchier, than investors might once have hoped, there is growing evidence that the company is inching towards first gas in the country although there's still no news on the long-awaited farm-out of its Ruvuma PSA

Full story...

News: August 20, 2013

Sound Expects To Announce The Estimated Level of Commercial Gas Expected From The Nervesa Field Within Weeks

The clock is now ticking to find out how successful Sound Oil’s flagship Nervesa well in Italy has been. The company recently announced that in preparation for testing the well, the company has successfully; run and set the seven inch liner, perforated 7 gas levels, set a double string production completion, initiated rig demobilisation. The AIM listed group has said that well testing is anticipated at the end of August, after which the company will announce the estimated quantity of commercial gas.

Full story...

News: August 19, 2013

Circle Oil Flexes Its Financial Muscle To Increase Its Holdings In Tunisia

We are used to getting very regular updates on Circle Oil’s production activities in Egypt and Morocco. At the end of July however, it slipped out a release about expanding in Tunisia. This attracted little attention. So it is worth picking it up now because it marks a very interesting new departure for Circle.

Full story...

News: August 19, 2013

Canada’s Valuera Energy Sees Second Quarter Production Up From Turkish Tight Gas Assets

Not everything in life can go your way, of course, but Toronto-listed Valeura Energy, which is focused on unlocking Turkey’s tight gas potential, is certainly moving in the right direction so that it does.The company has just announced its second quarter results for 2013 and although production was up on the previous period, results lagged a little behind expectations.

Full story...

Market Overview: August 16, 2013

Geopolitical Unrest In The Middle East Puts Upward Pressure On Oil Prices

Geopolitics in the Middle East dominated the headlines and unrest in Egypt, Libya and Bahrain added to investor concerns. Any disruption in oil shipments will push the oil price higher and in early trading on Friday, Brent crude was trading around US$109 with WTI close to its highest in two weeks, above US$107 a barrel.

Full story...

News: August 15, 2013

Chariot Oil & Gas Lands Cairn Energy For Mauritanian Exploration Venture

Shareholders in Chariot Oil & Gas are still licking their wounds after the bruising events of 2012 when the AIM-quoted explorer drilled two dusters offshore Namibia.  It is going to take time and some pretty impressive results for the share price, which was trading at 22 pence on Tuesday, less than a tenth of the placing price of 250 pence in April 2012, to recover from that double whammy but the past year has seen significant progress in reshaping the portfolio to diversify the risk, add new ventures and conserve cash while also renewing the management team.

Full story...

News: August 15, 2013

AIM-listed Faroe Petroleum Raising The Numbers After Completing East Foinaven Field Acquisition

Aberdeen-based Faroe Petroleum has upped its production game after taking a stake in the East Foinaven Field, west of Shetland, operated by oil giant BP.The group confirmed it had completed the previously announced acquisition from Marubeni Oil & Gas (North Sea) Limited in a statement on August 9.Most significantly, it adds an extra 400 barrels of oil equivalent per day (boepd) of net production to Faroe’s books.

Full story...
Press releases

August 21, 2013 - Soma Oil and Gas Appointment of Chief Financial Officer
August 21, 2013 - Andes Energia Directorate Change
August 21, 2013 - Andes Energia Issue of Equity
August 21, 2013 - Ascent Resources Change of Registered Office
August 21, 2013 - Roxi Petroleum Plc Operational Update
August 21, 2013 - San Leon Energy Siciny-2 Update
August 21, 2013 - Rialto Energy Ltd Change of Registered Office Address
August 21, 2013 - Energy XXI Audited Year-End Results & Operational Update
August 21, 2013 - Woburn Energy Board Changes
August 21, 2013 - Faroe Petroleum Holding(s) in Company 
August 20, 2013 - JKX Oil & Gas Convertible Bonds- Second Price Reset
August 20, 2013 - Premier Oil Norway sale and purchase agreement signed
August 20, 2013 - Faroe Petroleum Operational update 
August 20, 2013 - Cairn Energy Cairn Energy Half-Yearly Report Announcement 
August 20, 2013 - San Leon Energy Nowa Sol Update 
August 20, 2013 - Oilex Ltd UK Broker Update
August 19, 2013 - Rialto Energy Ltd Settlement of Second Tranche Placement 
August 19, 2013 - Solo Oil Update, Tanzania 
August 19, 2013 - Aminex Plc Tanzania Update
August 19, 2013 - JKX Oil & Gas Progress Report on R-103 Frac in Ukraine 
August 19, 2013 - Maple Energy Interim results 
August 19, 2013 - Jubilant Energy Posting of Notice of EGM 
August 19, 2013 - Magnolia Petroleum Increased Working Interests,Well Updates &...
August 19, 2013 - Zeta Petroleum Plc Successful Production Test at Jimbolia-100...
August 19, 2013 - Fastnet Oil & Gas Final Results 
August 19, 2013 - San Leon Energy Awarded Timahdit Oil Shale Block
August 15, 2013 - Petroceltic International Price Monitoring Extension 
August 15, 2013 - Antrim Energy Inc. http://www.londonstockexchange.com/exchang...
August 15, 2013 - Central Petroleum Ltd Central Consolidates Shares
August 15, 2013 - Tethys Petroleum Tethys Petroleum Limited: Second Quarter...
August 15, 2013 - Max Petroleum Operational Update
August 15, 2013 - Maple Energy FUNDING OF SENIOR SECURED DEBT FINANCING
August 15, 2013 - Ophir Energy plc Board Appointment 
August 15, 2013 - Ophir Energy plc Interim Results
August 14, 2013 - Leni Gas & Oil Plc Reduced royalty rates - Goudron, Trinidad
August 14, 2013 - Eland Oil & Gas Plc Operations Update
August 14, 2013 - Max Petroleum Update on NUR-1 Pre-salt Well
August 14, 2013 - Petrel Resources Acquisition of 20 per cent shareholding
August 14, 2013 - Bridge Energy ASA Exploration drilling campaign in PL457...
August 14, 2013 - Austin Exploration Austin closes on second Eagle Ford farm-in...
August 14, 2013 - PA Resources UK Limited Announcement of prospectus regarding PA...

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