Small Cap Oil round-up
Caza Oil & Gas (CAZA) said that the Caza 158 #2 well in Upton County, Texas, reached a total depth of 10,649 feet and electric logs indicate multiple potential pay sands in the Clearfork, Spraberry, Wolfcamp, Strawn and Atoka formations. The operator is preparing the 158 #2 well for further completion operations including a fracture stimulation program. Caza has a 25.0% working interest and a corresponding 18.75% net revenue interest in the prospect and well.
Ascent Resources (AST) has completed the first phase of operations on the Pg-11 well in the Petišovci Project in Slovenia, where it has a 75% interest. The primary objectives of the well exceeded expectations with gas confirmed by logs in all of the six Middle Miocene Badenian reservoirs. In addition, gas and condensate were sampled from the Lower Miocene Karpatian reservoir and gas flowed for the first time from the shallowest ‘A’ sands. The next phase of the operations depends on the analysis of the log and core data and it is planned that the Crosco Cardwell-1 rig will remain on location so a horizontal production sidetrack can be drilled.
Global Petroleum (GBP) announced that the first Eagle Ford well, Tyler Ranch EFS #1H, has produced 31,099 barrels of oil and 40,987 mcf of gas over a 60 day test period on a restricted choke. This represents an average daily oil equivalent rate of 632 boepd. Global has a 7.939% working interest in the well and a beneficial interest in the production of 5.95% or some 37 boepd of the above 60 day production.
Max Petroleum’s (MXP) ALTW-1 exploration well on the West Altykol prospect on Block E, Kazakhstan, was dry and will be plugged and abandoned. The drilling rig will now move to drill the ZMA-ET1 appraisal well in the Zhana Makat Field on Block E.
Max Petroleum has also commenced drilling the ASK-1 exploration well on the Asanketken prospect in Block E, the ninth of 15 post-salt exploration prospects scheduled to be drilled on Blocks A&E. The total depth of the well will be approximately 3,300 metres, targeting potential Triassic reservoirs.
EnCore Oil (EO.) said the operator, Sterling Resources, is towing a rig to the Cladhan discovery in UK Northern North Sea Blocks 210/29a and 210/30a for appraisal drilling. The objective of the current program is to drill further down dip, again looking for deeper oil in the structure to the east of the previous wells. This will be followed by a sidetrack to a second location to an undrilled channel further south of the current well penetrations. Assuming success with both of these wells, there is an option to drill a second sidetrack from the same well out into the fan system. Encore has a 16.6% interest in Cladhan.
Range Resources (RRL) said that a drilling rig has been secured for the upcoming Georgian drilling program. Mobilisation is scheduled to commence in March 2011, with well spud in April 2011.
Xcite Energy (XEL) has entered into a binding drilling contract for the N-Class “Rowan Norway”, a harsh environment, deep water jack-up unit, designed and built for simultaneous drilling and production, which is currently under construction. The Rowan Norway is expected to be used to commence the first stage production of the Bentley field, the planning for which is currently being undertaken. XER expects the Rowan Norway to be made available in the fourth quarter of 2011
Aminex (AEX) has reported that following a reserves audit, in the USA it has net proved reserves (1P) of 2.5 million barrels of oil equivalent, while in the Nyuni PSA in Tanzania it has 278 billion feet gas in place on a contingent resources basis and 2.54 trillion feet gas in place on a prospective resources basis.
Exillon Energy (EXI) announced that Group 1P reserves increased by 40% to 112 million barrels, 2P reserves increased by 74% to 239 million barrels and 3P reserves increased by 12% to 439 million barrels.
Lansdowne Oil & Gas (LOGP) has announced details of an updated Competent Persons Report covering all of its Celtic Sea Acreage. Across two discoveries and five prospects Lansdowne believes it has P50 technically recoverable oil of 93 million barrels and 331 billion standard cubic feet of gas.
Bahamas Petroleum (BPC) said that two recently completed, independent consultant studies provide important results from the June 2010 fully processed Pre-Stack Time Migration data along with preliminary mapping results of shipboard analysis of the January 2011 2D seismic survey. Both provide evidence of ‘giant’ size structures in the southern licences capable of holding several hundred million barrels of oil.
Providence Resources (PVR) has raised £41 million in a placing of new shares at 255 pence per share. The proceeds will primarily be used for a multi-well drilling programme of oil and gas prospects in areas of proven oil and gas discoveries offshore Ireland and onshore UK. The Placing will also provide capital for seismic studies to be undertaken on certain of Providence’s early stage assets in order to assess their suitability for drilling at a future date.
Enegi Oil (ENEG) has been offered a 100% interest in an Onshore Petroleum Licensing Option to undertake a work programme within the Clare Basin located onshore western Ireland and is within the same fault system trend as the prospects and discovery in Enegi’s Newfoundland regional play. The Option covers an area of approximately 495 sq. kilometres.
Regal Petroleum (RPT) has completed the sale of the Barlad Concession in Romania to Chevron.
Augusto Carmona da Mota has retired as a non-executive Director of Plexus Holdings (POS).
Dan, there’s no doubt your readers would appreciate you post this, but SmallCapNews wouldn’t. As you yourself are planning to start your own site, I’m sure you wouldn’t want people to copy/paste entire articles and paste it elsewhere, stealing potential traffic. The least you can do is link to the source which would at least give them some advertising money 🙂
For Gods’ sake man! It’s a blog! Dans’ not here to help other sites make money from investors. BMD’S posts are all over the frigging internet being quoted on sites wide and far we don’t get BMD moaning about it.
Any news from where -ever is fair game dont matter if its a national paper or an internet site. Spreadin the words what counts.
“Dixon of Dock Green” -Dodgy copper if there ever was one.
For God’s sake man, BMD should show the courtesy of linking back to the original post, rather than pretend it is his work (I’m sure that his not his intention).
If others are thieving or raping or murdering, it doesn’t mean you go on and do it.
Seriously, yours is a chav reply if there ever was one.
BMD – please correct the posts from now on
What an idiotic response.
The only chav here mate is you. Talking bollocks. I come on here to get news i’m not bothered where it comes from just like when reuters post news from other sites.
You prick.
Just look at your abusive replies to all who disagree with stealing?
With a single grey cell stressing vocabulary consisting of “God’s sake””bollocks””prick””idiotic” as well as preaching it is OK to copy without proper recourse with “I’m not bothered” = c**v
Finally I pay FT.com monthly subscription and they do quote their source -especially if they are re-printing it, and if you don’t believe me, just call their editorial dept).
Seriously, I suppose nature will take it’s course and venom!
Stealing? What are you talking about? There’s no “stealing” going on here. I am relaying financial information. Get a life. Is it any wonder investors are hurling abuse at you? Better still just go away.
Daniel
OK I will (one idiot whom you are supporting those not equate to all), nevertheless I wish all sincere investors the best.
I’ve also noticed you have corrected your latest post from Sharecast.
I’m not one to send abuse, but will not tolerate hard work of others, not respected.
You could have shown humility and admitted your mistake(in my original post I did imply I thought your intentions were genuine but misguided). I’m sure you are better than this rather than lowering yourself to the “copper prick” level but so far you are not.
You have lost one person, who thought you were to be respected.
Must say I disagree with you Honest John. I use the FT all the time and they post news and views from various other periodicals and they never include links. It’s the internet and that’s the beauty of it. News gets circulated around the globe in an instant.
FT
I did post earlier but it hasn’t shown up but hey.
I have to wholeheartedly agree with Honest Johns jist regarding posting other peoples work and also the chav reply who thinks everything is fair game unless its on him- just look at his abusive reply-a chav surely?
I also subscribe to FT.com and they always list someone else’s work, so I don’t know if we are reading the same paper.
I would have to agree that it is standard ‘internet etiquette’ to link back to sites if you copy and paste an entire article.
No news of Matra sadly 🙁
Completely disagree with you. I’ve read the smallcaps round-up and there are NO links on their page or site refering back to any company or news outlet they write about. Just as there are NO links on the sharecast site refering back to their Sunday round-up.
It looks and reads to me John that some posters come on here only to knock this blog. There are plenty of articles on the FT pages with no reference or links to their sourced material. The FT get news from various news gatherers ie Reuters,Press Association etc. They never put a link on these articles as this would take traffic away from their site.