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Thursday, October 10, 2013

Oilbarrel Newsletter 10th October 2013

Oilbarrel.com Informed comment and independent oil and gas   news
Oilbarrel Weekly Roundup 3rd - 10th October 2013
62nd Oilbarrel Conference - Thursday 7th November 2013

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62nd Oilbarrel Conference
Thursday 7th November 2013

The Brewery
Chiswell Street 
London 
EC1Y 4SD
(Nearest stations are Moorgate and Liverpool Street)

The speaker line up will be announced here shortly

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Latest News

News: October 10, 2013

Tangiers Petroleum Terminates Australia Farm-Out As Cash-Strapped Chinese Partner Misses Key Deadline

 When signing a farm-out investors often look not only for the terms agreed but also the credibility of the farm-inee.  There's a good reason for this: it's one thing to promise investment and activity, quite another to deliver it.  And it's the reason why, as we reported in December 2012, shares in AIM-quoted Tangiers Petroleum dipped on news of the farm-out deals struck for its acreage in Morocco and Australia.   Not only were the terms rather less generous than senior management had indicated when they began the farm-out process but the partner bagged for its Bonaparte Basin acreage off the coast of Australia was some little known Chinese outfit.

Full story...

Features: October 09, 2013

Conference Report 2: Rialto Energy Delivers Bracing Account Of Recent Challenges As It Looks To The Future While Petroceltic International Discusses Sonatrach's Pre-emption In Algeria And The Opportunities Across Its Expanded Portfolio

Oilbarrel.com's 61st conference was our first event to be held on a Monday and it seemed the early start to the week didn't deter delegates, with the event one of the busiest of the year to date. After the coffee break, numbers rose as more delegates arrived to be sure to see the much-anticipated presentation from Tom Hickey, CFO of Petroceltic International, a favourite with oilbarrel.com regulars.  There was an audible buzz when it became clear the Petroceltic team, flying in from Dublin, had been delayed and Rob Shepherd, new CEO of Rialto Energy, filled the spot while Hickey dashed across London.

Full story...

Features: October 08, 2013

Conference Report 1: Canadian Overseas Petroleum Introduces Exciting Deepwater Project Offshore Liberia, Northern Petroleum Presents Its Turnaround Story While PKF Malta Highlights That This Overlooked Section Of The Mediterranean Is Now Open For Business

It has been three months since our last conference and, judging by the packed conference room and the buzz of excitement, delegates and presenters were glad to be back at The Brewery in the City of London for a morning of oil news and industry gossip.  Whetting the appetite of the private and institutional investors in the audience was Arthur Milholland, chief executive of Canadian Overseas  Petroleum Limited (COPL). 

Full story...

Features: October 07, 2013

Poweralternatives: Renewable Energy Supplier Good Energy Joins The Likes Of The Jockey Club And John Lewis By Launching 7.25 Per Cent Corporate Bond

AIM-quoted Good Energy faces something of a funding challenge if it is to meet its own ambitious goals to have 110 MW of renewable electricity generation capacity in 2016.  That represents a massive step change in capacity over the next three years from its current base of 9.2 MW, from the Delabole wind farm in North Cornwall, with another 8.2 MW of wind power capacity under construction at Hampole, Yorkshire.

Full story...

Market Overview: October 04, 2013

Oil Prices Suffer As The US Shuts Down “Non-Essential” Services

The oil price suffered an unexpected drop this week as the US government shut down some “non-essential” services. As the politicians argue over the details, this first partial shutdown in 17 years has the market worried about a fall-off in energy demand. In early trading on Friday, Brent crude was priced around US$109 with WTI recovering from its lowest price in three months, trading above US$103 a barrel

Full story...

News: October 03, 2013

Desire Petroleum Jumps As It Nets £61 Million Paper-Backed Bid From Falklands Oil & Gas As Enlarged Group Tees Up Five-Well Campaign For 2014-2015

News of a four-way deal between operators in the Falkland Islands will be seen as long overdue by some investors.  For a province that has yielded only one commercial discovery, there's a surprising number of small caps struggling to make headway with their frontier exploration portfolios where the remote location in the Southern Atlantic makes for hefty drilling costs.

Full story...

News: October 03, 2013

Caracal Energy Announces First Oil In Chad As It Starts To Ramp Activity Levels Following Close Of Glencore Farm-Out

Canada's Caracal Energy, which last month joined the FTSE All Share Index, has achieved first oil from the Badila field in Chad. After June's farm-out to commodities giant GlencoreXstrata, Caracal has a 75 per cent stake in the field, where output is expected to ramp to 20,000 to 23,000 barrels per day from two wells by year end, with the Canadian company's net working interest amounting to 11,500 bpd of this.  Next year the production target is 36,000 bpd as more wells are tied in, with Caracal's share tallying 18,000 bpd.

Full story...
Press releases

October 10, 2013 - Tangiers Petroleum Ltd Tangiers signs underwriting agreement 
October 10, 2013 - Cadogan Petroleum Plc Operations Update
October 10, 2013 - Oilex Ltd Oilex Ltd 2013 Annual Report to Shareholders
October 10, 2013 - Oilex Ltd Notice of Annual General Meeting 11...
October 10, 2013 - Leni Gas & Oil Plc Oil production exceeds 500 barrels per day 
October 10, 2013 - Ithaca Energy Inc New Debt Facilities
October 10, 2013 - Victoria Oil & Gas Trading and Operations Update
October 10, 2013 - Gulf Keystone Petroleum Shaikan Production Update 
October 09, 2013 - Petroceltic International Holding(s) in Company
October 09, 2013 - Ceramic Fuel Cells Director Appointment 
October 09, 2013 - Iofina Plc Operational Update 
October 09, 2013 - Salamander Energy West Kerendan-1 Exploration Well Spud
October 09, 2013 - Exillon Energy Interim Management Statement and Drilling...
October 09, 2013 - Rockhopper Exploration Directors Dealings
October 09, 2013 - Fortune Oil Holding(s) in Company
October 09, 2013 - Fortune Oil Holding(s) in Company 
October 09, 2013 - Fortune Oil Holding(s) in Company 
October 09, 2013 - Fortune Oil Holding(s) in Company 
October 09, 2013 - Fortune Oil Holding(s) in Company 
October 09, 2013 - Northcote Energy Raises GBP1.75 million through Placing 
October 09, 2013 - Rockhopper Exploration Directors Dealings
October 09, 2013 - Northcote Energy Appointment of Joint Broker
October 08, 2013 - Green Dragon Gas Significant Drilling Development 
October 08, 2013 - Tangiers Petroleum Ltd Tangiers terminates FOA with CWH Resources 
October 08, 2013 - Infrastrata TR-1: NOTIFICATION OF MAJOR INTEREST IN...
October 08, 2013 - Oilex Ltd Chief Operating Officer
October 08, 2013 - Nighthawk Energy plc Production Update
October 08, 2013 - Sound Oil PLC New Badile CPR
October 08, 2013 - Max Petroleum Operational Update 
October 07, 2013 - Northern Petroleum Plc Directors' Shareholdings 
October 07, 2013 - Quadrise Fuels International Final Results
October 07, 2013 - Fastnet Oil & Gas Application of the Takeover Code
October 07, 2013 - Tower Resources plc Grant of Options
October 07, 2013 - Nostra Terra Oil & Gas Company PLC Increase in director shareholding 
October 07, 2013 - Jupiter Energy Limited Notice of AGM
October 07, 2013 - Wentworth Resources Appointment of Investec as Joint Broker
October 07, 2013 - Tangiers Petroleum Ltd Issue of Equity 
October 07, 2013 - PA Resources UK Limited PA Resources’ Production Report for Q3, 2013
October 07, 2013 - Petroceltic International Algeria Farmout Process Update 
October 07, 2013 - Northcote Energy Positive Frack Update, Horizon Project,...
October 07, 2013 - Plexus Group Additional Well Order from Centrica 
October 07, 2013 - Jupiter Energy Limited Notice of AGM 
October 07, 2013 - Wentworth Resources Wentworth Resources Limited : Appointment...
October 07, 2013 - Northcote Energy Frack Programme Update
October 07, 2013 - Northcote Energy Managing Director Interview on BRR
October 07, 2013 - Tangiers Petroleum Ltd ISSUE OF EQUITY 
October 04, 2013 - Gulfsands Petroleum Plc Options Exercise and Transfer of Treasury...
October 04, 2013 - Max Petroleum Drilling Report 
October 04, 2013 - Nostra Terra Oil & Gas Company PLC Richfield Update
October 04, 2013 - Urals Energy Operational Update and EGM Update 
October 04, 2013 - TXO Plc Empire vs SmartWin US Court Case Update 
October 04, 2013 - Dragon Oil Drilling and Production Update
October 04, 2013 - Solo Oil Possible Sale of Interests in Ontario
October 04, 2013 - Oilex Ltd Result of General Meeting - 4 October 2013
October 04, 2013 - Northcote Energy Intention to Drill 1st Horizontal Well...
October 04, 2013 - Magnolia Petroleum Quarterly Operations Update
October 04, 2013 - Central Petroleum Ltd Update on Surprise Costs and Funding
October 04, 2013 - Caracal Energy Announces Results of Special Shareholder...
October 04, 2013 - Northcote Energy Intention to drill first Horizontal well...
October 04, 2013 - Gulfsands Petroleum Plc Options Exercise and Transfer of Treasury...
October 04, 2013 - Max Petroleum Drilling Report
October 03, 2013 - Bankers Petroleum Bankers Director and Executive Officer...
October 03, 2013 - Falkland Oil and Gas Limited Farm-in Agreement 
October 03, 2013 - Soco International Return of Cash to Shareholders
October 03, 2013 - Dragon Oil Award of a contract for jack-up rigs
October 03, 2013 - Oilex Ltd Canning Basin SPA-0055 Update 
October 03, 2013 - Desire Petroleum Recommended combination with Desire...
October 03, 2013 - AWE Limted Tui JV partners acquire Mitsui's 35% interest
October 03, 2013 - Beach Energy DLS: Monthly Drilling and Operations...
October 03, 2013 - Karoon Gas Brazil Appraisal Plan Update
October 03, 2013 - Enegi Oil Continuing Development of ABT Oil & Gas 
October 03, 2013 - Rockhopper Exploration Farm-in Agreement


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