Oilbarrel Newsletter 3rd October 2013

Oilbarrel Weekly Roundup 25th September - 3rd October 2013 61st Oilbarrel Conference - Monday 7th October 2013 Sponsored By Taking place at: The Brewery Chiswell Street London EC1Y 4SD (Nearest stations are Moorgate and Liverpool Street) Presenting Companies include: PETROCELTIC INTERNATIONAL CANADIAN OVERSEAS PETROLEUM NORTHERN PETROLEUM PKF MALTA RIALTO ENERGY Our free-to-attend Forums have enabled Investors and Industry experts, for 9yrs now, to hear directly from presenting Oil & Gas and Exploration companies and in-turn, created new investment opportunities. To Register Click Here or contact Support@Oilbarrel.com for more information Interested in Speaking and/or Sponsoring a Minesite event? Speak with PAUL NEWMAN on +44 (0)20 7562 5422 or via email Paul.Newman@Oilbarrel.com **We have limited availability for the penultimate Oilbarrel Forum of 2013, on Thursday, November 7th** Latest News 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... News: October 02, 2013 PetroNeft Resources Has A Hiatus With Its Arbuzovskoye Drilling As It Sort Its Funding Issues Until April this year AIM listed PetroNeft Resources, which is focused on Russia seemed to be progressing well with what Oilbarrel has dubbed “Plan B”with its acreage in Siberia. In April the Arbuzovskoye 105 well tested at an initial rate 160 bopd with no obvious water cut. The well was shut in for pressure build up testing before being put into long term production. This was the sixth well to come good in what was to be a ten well programme. Full story... News: October 02, 2013 Andes Energia Prepares To Put Its Expanded Portfolio To Work South America may not be the easiest place to do business – just ask Spain's Repsol, which was booted out of Argentina last year in a move that shocked the international business community – but it continues to win investment from oil juniors.  Indeed, it is the very challenges of working here, be it in Argentina, where President Kirchner's policies are a red flag for many investors, or the high costs of doing business in Brazil, that creates opportunities for smaller companies to scoop unwanted acreage and swoop on distressed incumbents. Full story... News: October 01, 2013 Northern Petroleum Sells Its Dutch Assets As Part Of Its Restructuring Northern Petroleum recently released its interim results for the six months ending on June 30 2013. In it the company said there had been lack of progress in some of the key areas of focus for the company in recent years and there was a clear need for a new approach to take the company forward. This lack of progress had dented shareholder confidence and put the weary share price under great pressure. Full story... News: October 01, 2013 Providence Resources Moves Into The Black As Investors Await News Of Key Barryroe Farm-out Providence Resources has moved into the black, posting a profit of €1.328 million for the six months to June 30, reversing last year's loss of €33.295 million and eliminating its debt. The strengthened balance sheet, which saw the company reach the end of June with almost €24 million in cash, follows last year's sale of its onshore UK assets for US$66 million.  Full story... News: September 30, 2013 Leni Gas & Oil Interim Results Report Good Progress In Trinidad Leni Gas & Oil has been scrupulous in giving regular updates on its activities over the past six months so there are no great surprises in its unaudited interim results for the six months to June 30 2013. The report, however, is a good sum up of a very busy period for the AIM –listed company. Full story... News: September 30, 2013 After Another Oil Strike In Kenya, Tullow Oil Plans A Well A Month As It Ramps Exploration Activity In This Fast-Emerging Rift Basin Was it only a month ago that time was being called on Tullow Oil's industry-beating run of exploration success?  After a series of dud wells, offshore Mozambique, Cote d'Ivoire and French Guiana, it seemed the FTSE100 company's (black) golden touch had disappeared.  But then earlier this month the company struck oil in the Barents Sea with the Wisting Central well, making the first ever strike in Norway's Hoop-Maud Basin.   Full story... Market Overview: September 27, 2013 As Geopolitical Threats Fade, So Too Do Oil Prices As the geopolitical threats in the world lose their impact, so too does the oil price. More conciliatory talks with Iran could soon be a reality and the elimination of Syria’s chemical weapons will also help to calm investment fears. In early trading on Friday, the oil price continued its decline with Brent crude priced below US$109 and WTI trading down around US$102 a barrel. Full story... News: September 26, 2013 Tower Resources Finds Itself US$4 Million Richer As Ophir Energy Ditches Madagascan Exploration Plans When Tower Resources announced plans to buy Wilton Petroleum in summer 2013, one of the key attractions of the US$4.2 million cash and paper deal was it exposed the AIM-quoted small cap to near-term drilling.  Privately-owned Wilton had been due to participate in a well on the Ophir Energy-operated Marovoya Block 2102 onshore Madagascar but this month London-listed Ophir announced it was relinquishing the block. Full story... News: September 26, 2013 Private Equity-Backed Oyster Petroleum Seeks North Sea Pearls As It Buys Assets From Ithaca The equity markets may have little taste for small cap oil and gas companies at present but it would seem private equity does have the appetite, with start-up Oyster Petroleum securing a funding commitment of US$150 million from Norway's HiTec Vision.  Oyster, founded this summer by the former exploration team at Valiant Petroleum, which was bought by Canada's Ithaca Energy for £203 million in April 2013, has already put its funding advantage to good use, buying a package of licence interests in the West of Shetlands. Full story... News: September 25, 2013 Norwest Energy’s Ground-Breaking Arrowsmith-2 Well Comes Good Never let it be said that we at Oilbarrel are lucky with our timing. We published an article about ASX-listed Norwest Energy’s ground-breaking shale gas well, Arrowsmith-2, last Thursday (September 19) hedging our bets about the likely outcome of drilling that was underway. We said how difficult fracking could be Full story... Press releases 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 - Desire Petroleum Recommended combination with Desire... October 03, 2013 - Oilex Ltd Canning Basin SPA-0055 Update  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 October 02, 2013 - Ophir Energy Tanzania: Successful flow-test and... October 02, 2013 - Egdon Resources Commencement of Production - Waddock Cross  October 02, 2013 - Soco International Operations Update  October 02, 2013 - Eland Oil & Gas Plc Appointment of Exploration Manager  October 02, 2013 - Nighthawk Energy plc Posting of Circular October 02, 2013 - Ithaca Energy Inc Directors Shareholdings & Grant of Options October 02, 2013 - BG Group Pweza field appraisal completed - 2... October 02, 2013 - Good Energy Good Energy launches 7.25% corporate bond  October 02, 2013 - Maple Energy Director/PDMR Shareholding  October 02, 2013 - Nighthawk Energy plc Posting of Circular October 02, 2013 - Eland Oil & Gas Plc Appointment of Exploration Manager  October 02, 2013 - Egdon Resources Commencement of Production - Waddock Cross October 01, 2013 - Good Energy Planning consent for 30MW solar farm  October 01, 2013 - Wasabi Energy Audited Final Results October 01, 2013 - Velocys Interim Results  October 01, 2013 - New World Oil & Gas 8 month extension at Danica Resources... October 01, 2013 - Northern Petroleum Plc Sale of Netherlands Subsidiary October 01, 2013 - Tangiers Petroleum Ltd Issue of Equity October 01, 2013 - Caracal Energy Caracal Announces First Oil Shipments From... October 01, 2013 - Ophir Energy Total Voting Rights October 01, 2013 - Gulfsands Petroleum Plc Appointment of New Broker October 01, 2013 - Nighthawk Energy plc Issue of Equity and Total Voting Rights October 01, 2013 - New World Oil & Gas 8 month extension at Danica Resources Licence October 01, 2013 - Max Petroleum Successful well result at Sagiz West October 01, 2013 - Tower Resources plc Completion of Wilton Petroleum Acquisition October 01, 2013 - IGas Plc Grant of options September 30, 2013 - Greka Drilling Limited Half Yearly Report September 30, 2013 - Frontera Resources First Half 2013 Financial Results September 30, 2013 - Northcote Energy Interim Results September 30, 2013 - San Leon Energy Completion of First Placing September 30, 2013 - Cadogan Petroleum Plc Operations Update  September 30, 2013 - Providence Resources Providence Resources P.l.c. - Interim... September 30, 2013 - Xtract Energy Plc Half Yearly Report  September 30, 2013 - Rialto Energy Ltd Financial Results for Year Ended June 2013 September 30, 2013 - San Leon Energy Interim Results September 30, 2013 - Nostra Terra Oil & Gas Company PLC Interim Results September 30, 2013 - Geopark Holdings Ltd Strategic partnership in Brazil September 30, 2013 - Petroneft Resources Plc Half Yearly Report  September 30, 2013 - Victoria Oil & Gas Plc Directorate Change September 30, 2013 - Lekoil Ltd Half Yearly Report September 30, 2013 - Wentworth Resources Wentworth Resources Limited : Mozambique... September 27, 2013 - Norwest Energy NL Norwest Full Year Statutory Accounts September 27, 2013 - Northern Petroleum Plc Appointment of Chairman  September 27, 2013 - Oilex Ltd Notice of General Meeting - 28 October 2013 September 27, 2013 - Sound Oil PLC Casa Tiberi Approval September 27, 2013 - Trap Oil Group Half Yearly Report September 27, 2013 - Mercom Oil Sands Final Results  September 27, 2013 - Clontarf Energy Interim Statement for period ended 30 June... September 27, 2013 - Borders & Southern... Half Yearly Report September 27, 2013 - Mediterranean Oil & Gas Malta Area 4 Operational and Litigation... September 27, 2013 - Sefton Resources Interims and Restoration to Trading September 27, 2013 - President Energy Proposed Equity Investment by the IFC  September 27, 2013 - Sound Oil PLC Half Yearly Report September 27, 2013 - Urals Energy 2013 Half Year Results September 27, 2013 - New World Oil & Gas Update on Subscription September 27, 2013 - Ithaca Energy Inc Management Changes September 27, 2013 - Jupiter Energy Limited Annual Report September 26, 2013 - CBM Asia Development Corp CBM Asia Signs MoU To Study The Supply Of... September 26, 2013 - PA Resources UK Limited In PA Resources’ ongoing bond offer, the... September 26, 2013 - Zeta Petroleum Plc Board Restructuring September 26, 2013 - Lansdowne Oil & Gas Interim Results September 26, 2013 - Tullow Oil plc Ekales-1 Oil Discovery in Kenya September 26, 2013 - Faroe Petroleum Interim Results September 26, 2013 - Amerisur Resources Interim Results September 26, 2013 - Roxi Petroleum Plc Interim Results September 26, 2013 - Amerisur Resources Platanillo Update September 26, 2013 - Rockhopper Exploration AGM Statement September 26, 2013 - Serica Energy Appointment of Nominated Adviser Don't forget to visit our other website

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