Amerisur Resources (LON: AMER)
Released an update on operations in Colombia and Paraguay. The highlights of which were thus; . Platanillo-16 becomes the 11th successful well in the current campaign… Data acquired strengthens field model… Good test flow rates – 320 BPD of 30.7 API oil at 17% drawdown… Placed on commercial production… Platanillo-17 on platform 3N has been spudded… Good progress on the Ecuador pipeline project in Environmental, Technical and Commercial terms… San Pedro 2D Seismic acquisition programme proceeding.
Egdon Resources (LON: EDR)
Didn’t you just know it. Here comes the first of many placing’s. A placing of 12,000,000 new ordinary shares at a placing price of 25 pence per share to raise approximately £3.0 million.
Ithaca Energy Inc. (LON: IAE)
Plugged & Abandoned the Handcross prospect (204/18b-2A) well. No hydrocarbons were encountered in the target T36 or T35AA sands.
Leni Gas & Oil (LON: LGO)
Has now signed a contract with Well Services Petroleum Company Limited, Trinidad’s largest drilling contractor, for the drilling of the first seven wells of the planned 30 well development drilling programme at the Goudron Field.
Matra Petroleum (LON: MTA)
Released the results of an independent reserve audit conducted by DeGolyer and MacNaughton. As announced on 22 January 2014, Matra’s wholly owned subsidiary, Matra Petroleum U.S.A., Inc. has completed its Phase II acquisition of interests in certain oil and gas leasehold interests in the Texas Panhandle region of the USA through its investment in PGM-JV, a joint venture vehicle incorporated in Texas of which Matra owns 50%. D&M conducted a review of all of the assets included in both the Phase I and Phase II acquisitions and the results of the independent reserve audit can be read by CLICKING HERE: I’d strongly advise investors to read it!
Max Petroleum (LON:MXP)
Announced the successful drilling results of an appraisal well in Sagiz West Field, with electric logs indicating 16 metres of net oil pay over a 24 metre gross interval in the Triassic Formation at vertical depths between 1,225 and 1,249 metres. Reservoir quality is very good with porosities ranging from 15% to 27%. The Company is setting production casing in the well and will begin testing SAGW-10 as soon as practicable.
Nighthawk Energy (LON: HAWK)
Released a production & drilling update this week. The Big Sky 13-11 commenced production on 13 February 2014. An update on production levels will be released once the well has settled down. Aggregate gross oil production for January 2014 was 52,737 barrels an average of 1,701 bbls/day, a new monthly production record. Production in January was adversely impacted by planned treatment to the productive zone in the John Craig 1-2 well and some minor weather related problems. The John Craig 1-2 well is currently in production but it is anticipated that the well will require further treatment during this quarter. Completion of the Big Sky 13-11 well was moved ahead of the Telluride 13-2 well due to the interpretation of the logs and the potential for better production rates. The Telluride 13-2 is in the early stages of the completion process and the Big Sky 14-11 well has been completed in the initial zone of interest with evaluation of this zone currently underway. Nighthawk’s drilling campaign continues in the Arikaree Creek oilfield. The Big Sky 5-11 well is in the final stages of drilling and a substantial core has been taken. The well will be logged and cased ready for completion. In March 2014 the drilling rig will be moved to the Snowking 13-33 location, some three miles south-west of Arikaree Creek and, subject to permitting, Nighthawk expects to spud this well around mid-March 2014.
Northern Petroleum (LON: NOP)
Iain Lanaghan has been appointed as a non-executive director of the Company. Iain is an experienced public company director whose most recent position in the exploration and production industry was with AIM quoted Faroe Petroleum.
Nostra Terra Oil & Gas (LON: NTOG)
Two RNS’s this week as Matt Lofgran came out with the bull case for investment. “Nostra Terra’s portfolio of wells in the Chisholm Trail Prospect includes 7 wells which are in commercial production, 5 wells in various stages of election to production, and with more wells anticipated beyond these, we expect a significant increase in net production over the coming weeks and months.2 sic<The Company received confirmation of its election to acquire additional interest in the Jones 1-5H well (CT8). The Company’s working interest in the well has increased from 2.00% to 2.92%. The most recent ten days of production averaged 521 barrels of oil equivalent per day. This represents an increase in net production to the Company from the well from 10.42 boped to 15.21 boepd. Read our latest article on Nostra Terra HERE
Petroceltic (LON: PCI)
Has agreed the sale of an 18.375% interest in the Isarene Production Sharing Contract, which includes the world class Ain Tsila gas condensate discovery, onshore Algeria, to Sonatrach, the Algerian National Company for Hydrocarbons.
Range Resources (LON: RRL)
A shocking RNS from Range yesterday. Released when the market was closed. Headlined Notice of General Meeting. Sadly for those who care to take the time to read it you’ll see pots and pots of share issues, dilutions and options as well as more bad news buried within it. I’m afraid there’s no hope here.
Salamander Energy (LON: SMDR)
Further to the update on 27th January, the damaged risers have now been repaired and production from the Bualuang field has recommenced. The Company has also reached agreement for a new, two year sales contract for Bualuang crude. The agreed pricing is set at a small discount to Dubai benchmark and reflects an improved price relative to the previous agreement. The new price will be backdated to 1st January 2014.
San Leon Energy (LON: SLE)
The Serial failures announced that it has signed a Letter of Intent with Baker Hughes Poland Sp. z o.o. to jointly begin to develop the Siekierki Gas Field1 in Poland, including Polish Concessions 206, 207 and 208. The Companies plan to start gas production from four existing wells, namely Trzek-1, Trzek-2ZH and Trzek-3H on the Siekierki structure, and the nearby Krzesinki-1 well. Under the proposed agreement, it is envisaged that Baker will provide all funding necessary to recomplete and bring into production the Wells
Sterling Energy (LON: SEY)
Updated for the Ntem Concession, offshore Cameroon. The operator, Murphy Cameroon Ntem Oil Co, has confirmed that drilling operations have commenced on the Bamboo-1 well using the Ocean Confidence, a fifth generation semi-submersible drilling rig. The well, located approx. 56 kilometres from the coast of Cameroon, has an estimated target depth of 4200 metres true vertical depth sub-sea and will be drilled in a water depth of approximately 1600 metres. Drilling operations are anticipated to take approximately 60-70 days. Sterling Cameroon has a 50% non-operated working interest in the Ntem Concession. Murphy will pay Sterling’s share of the costs for the drilling of the Bamboo-1 well. A series of stacked fan targets have been identified and will be intersected by the Bamboo-1 well with the primary objective estimated to have a mean un-risked, gross prospective resource of 422 million barrels of oil and 170 billion cubic feet of gas, a total of some 450 million barrels of oil equivalent.