Dart Commences Drilling Ops at China Daijing Proj.

- Dart Commences Drilling Ops at China Daijing Proj.

Thursday, September 08, 2011
Dart Energy Ltd.

Dart Energy has commenced drilling activities at the Dajing project in Xinjiang Province, China, with the spudding of the first two exploration wells (DJD-02E and DJD-10E). This is part of an initial exploration program which will see a total of up to 14 exploration wells drilled prior to year end, and assuming no program delays, Dart would expect first core drilling results to be available in the first quarter of 2012.

This follows approval in August of the 2011 exploration program and budget by the Dajing Joint Management Committee (JMC). The JMC is comprised of representatives of both Dart and its partner at Dajing, China National Petroleum Corporation (CNPC).

In addition to the spudding of the first wells, the following other activities have been completed at the Dajing project:

• 4 drilling rigs have been mobilized to site
• 3 on-site desorption units and 2 permeability testing units have been mobilized to site
• 3 work camps established on-site
• Site and road construction for 2 other exploration wells has been completed (DJD-O1E; DJD-O4E), with those wells expected to be spud within the next week

Nick Davies, Dart Executive Chairman, said, "We are now operationally underway at Dajing, which is a major milestone for Dart. Dajing has the potential to be a project of substantial scale within the Dart global portfolio, and our attention is completely focussed on executing the exploration drilling campaign diligently, quickly and safely. Dart Energy looks forward to working collaboratively with our partner, CNPC, to unlock the potential of this block."

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Frontera Commences Drilling Ops at Georgia Field

- Frontera Commences Drilling Ops at Georgia Field

Tuesday, September 06, 2011
Frontera Resources Corp.

Frontera announced commencement of new drilling operations at the Mtsare Khevi Field within its Shallow Fields Production Unit, Block 12, in the country of Georgia.

Site preparation and mobilization of drilling equipment were completed in late August and drilling is currently underway at the Mtsare Khevi #31 development well location. The #31 well is the first of a planned twenty well program over the next twenty four months designed to exploit multiple Upper Pliocene sandstone reservoirs situated at a depth of approximately 300 meters. In addition, efforts are underway to implement a pump optimization program designed to enhance production from existing oil wells within the field. Planning is also progressing related to a previously disclosed infrastructure project designed to initiate gas sales from currently shut-in gas wells within the field.

The Mtsare Khevi Field, which Frontera operates with 100% interest, is located in the western portion of the Shallow Fields Production Unit and currently delivers approximately 90 barrels of oil per day from its shallow reservoirs. Twenty new well locations have been identified for ongoing low-cost drilling, targeting both oil and gas reservoirs and providing for reservoir pressure support through three proposed water injection wells.

The independent engineering firm of Netherland, Sewell & Associates "NSA" places a "Best Estimate" for gross original oil-in-place for the Mtsare Khevi Field of 14.9 million barrels, with a "low"-to-"high" range of 11.3-19.7 million barrels; and a "Best Estimate" for associated recoverable gross contingent and unrisked prospective oil resources of 2.1 million barrels, with a "low"-to-"high" range of 1.4-3.2 million barrels. This assessment is generally consistent with Frontera's internal estimates.

For gas, NSA places a "Best Estimate" for gross original gas-in-place for the Mtsare Khevi Field of 2.6 billion cubic feet, with a "low"-to-"high" range of 2.1-3.1 billion cubic feet; and a "Best Estimate" for associated gross contingent and unrisked prospective resources of 1.5 billion cubic feet, with "low"-to-"high" range of 1.2-1.9 billion cubic feet. Frontera's internal estimates reflect additional resource potential along the northwest trend of the field's fault block, which NSA have not yet been asked to evaluate.

The Shallow Fields Production Unit is located in the central portion of Block 12 and represents what the Company believes to be an extensive trend of low-cost, low-risk oil and gas resources. The unit contains a number of known oil fields; Mirzaani, Mtsare Khevi, Nazarlebi and Patara Shiraki, representing undeveloped or under-developed fields that have additional associated exploitation potential. The unit also contains an inventory of "look-alike" exploration prospects, the Kakabeti, Lambalo, Mkralihevi, Mlashiskhevi-Oleskhevi and Tsitsmatiani prospects, each of which contains Soviet-era wells that had hydrocarbon shows while drilling, but were never placed on production or adequately appraised. Reservoir objectives are the well-known, regional clastic reservoirs of Pliocene and Miocene age, situated at depths from 10 meters to 1,500 meters.

Further to the successful completion of the recently announced equity financing package, the new drilling campaign at Mtsare Khevi Field is part of an overall plan whereby Frontera intends to increase production from its portfolio within Block 12 from 225b/d to c.5,000b/d over the next two years,

Steve C. Nicandros, Chairman and Chief Executive Officer, commented, "The commencement of drilling operations, which began in August at the Mtsare Khevi Field, represents the launch of an exciting and extensive drilling campaign at this undeveloped, low-cost asset. Like the other assets within the Shallow Fields Production Unit, this field represents near term value realization and reserve additions for our company."

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Saratoga Commences Production at Main Pass 46 Field

- Saratoga Commences Production at Main Pass 46 Field

Thursday, September 01, 2011
Saratoga Resources Inc.

Saratoga has successfully completed and commenced production from its Catina and Four Corners wells in Main Pass 46 Field.

The State Lease 20436 #1 Catina well began production on August 29, 2011 with a gross initial production (IP) rate of 1145 barrels of oil per day (bopd) and 606 thousand cubic feet of gas per day (MCFPD), or 1246 barrels of oil equivalent per day (boepd), through a 12/64 inch choke with flowing tubing pressure (FTP) of 2650 psi. Current gross production rates are 656 bopd and 498 MCFPD (gross 739 boepd, net 576 boepd), on a 12/64 inch choke with 2900 psi FTP. Saratoga expects production to exceed pre-drill stabilized estimates of net 470 boepd with 88% oil versus gas. Saratoga has laid new flowlines to connect the well to the Company's Main Pass 46 facility.

Saratoga also completed the 6100' Sand in the State Lease 20034 #1 Four Corners well, which began production on August 16, 2011 with a gross IP rate of 1.7 million cubic feet of gas per day (MMCFPD), or 283 boepd, with no fluid through a 10/64 inch choke with 2250 psi FTP. The well tested on August 25, 2011 at gross 1.864 MMCFPD (gross 311 boepd, net 235 boepd) on a 12/64 inch choke with 2400 psi FTP.

Saratoga's President, Andy Clifford, said, "We are excited to have such an excellent start to our renewed development drilling program with the Catina and Four Corners wells meeting expectations." Mr. Clifford added, "We are also excited by the addition of Butch Scelfo to our team as Manager of Drilling and Well Operations. Butch has over 30 years experience in the oil and gas industry with various independent operators, including Maxus, Meridian, Stone and PXP. He has significant experience drilling in Louisiana state waters. This is an exciting phase of development growth for the Company and we are glad to have Butch on board."

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Imperial Commences Drilling Ops at Green Tide SWDF

- Imperial Commences Drilling Ops at Green Tide SWDF

Thursday, August 11, 2011
Imperial Resources Inc.

Imperial announced that, further to its announcement of rig arrival on August 9, 2011, the drilling rig to deepen the disposal well at the Company's Green Tide Salt Water Disposal Facility ("SWDF") is expected to commence drilling operations, slightly earlier than expected, Thursday, August 11, 2011.

The rig is expected to set a whipstock and sidetrack the well to TD over the next 10 days. The aim is to deepen the Green Tide SWDF well from 3,100 to 8,500 feet to establish the well around 500 feet to 600 feet into the Ellenburger formation. Casing will then be cemented from 500 feet into the Ellenberger to approximately 1,000 feet back up the hole and the well then drilled ahead to ideally create about 2,000 feet of open hole exposure in the Ellenburger so as to maximize disposal capacity.

Subject to success, commercial disposal operations are expected to commence immediately targeting full disposal capacity of 15,000 barrels per day as quickly as possible. At full capacity, the Company believes the Green Tide SWDF has the potential to generate significant cash flow at relatively low operating costs.

The Green Tide SWDF

The Green Tide SWDF is conveniently located for the disposal of large volumes of salt water generated from essential fracture stimulation operations on Barnett Shale gas wells. There are approximately 6,000 such Barnett wells within 20 miles of the SWDF.

Imperial plans to reopen Green Tide to dispose of up to 15,000 barrels of salt water a day. The Company's acquisition and development of the low run-time Green Tide assets and disposal permit is expected to save in excess of $5,000,000, compared to a new build cost.

Green Tide is one of two key projects identified as transformational for Imperial (the other being the Company's Oklahoma project).

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Heritage Commences Drilling in Kurdistan

- Heritage Commences Drilling in Kurdistan

Monday, August 08, 2011
Heritage Oil plc

Heritage Oil has commenced drilling the Miran West-3 well in the Kurdistan Region of Iraq ("Kurdistan").

Highlights

• The Miran West-3 well has commenced drilling with the primary objective of appraising the Miran West structure
• The well is targeting both the Jurassic and Cretaceous reservoir formations encountered in the Miran West-1 and Miran West-2 discovery wells
• The deviated well path, determined from the recent 3D seismic survey, targets the flanks of the structure to optimally intercept networks of open fractures
• It is intended that multiple reservoir intervals will be tested and evaluated as the well is drilled to a target depth of c.4,400 meters
• The well is expected to take approximately seven months to drill and test
• The commencement of drilling of the Miran West-3 well represents the beginning of a multi-well appraisal and exploration program, using the first of two rigs scheduled for back to back drilling on the Miran Field

Miran West-3 Well

Drilling of the Miran West-3 appraisal well has commenced. The well is targeting reservoir sections encountered in discovery wells with the primary objective of appraising the Jurassic and Cretaceous reservoir formations in the Miran West structure. Management estimates gross in-place volumes for the Miran West structure to have a P90-P50 range of 6.8-9.1 TCF of gas, with an upside P10 gas potential of 12.3 TCF. This is in addition to the estimated P50-P90 range of 42-71 MMbbls of condensate and 53-75 MMbbls of oil.

The Miran West-3 location and well trajectory provides a c.4.3 kilometer appraisal step out from the Miran West-2 Jurassic reservoir penetration. The planned well path targets the flanks of the structure. The well bore will be orientated and inclined to optimally intercept open fracture networks associated with multiple faults identified on recently acquired 3D seismic data. This well will also appraise the Cretaceous oil and gas reservoirs discovered in the Miran West-1 and Miran West-2 wells, further enhancing knowledge of the Miran structures.

Drilling of the Miran West-3 well is expected to take approximately seven months with key reservoir intervals being tested as the well is drilled.

After drilling and testing, it is intended that this rig will move to drill the Miran West-4 appraisal well. A second rig is being sourced to drill the planned Miran East-1 exploration well, with drilling expected to commence before year end, at which time there will be two rigs operating in the Miran Field.

3D Seismic Program

The Miran 3D seismic program is now approximately 90% complete. The significant improvement in seismic data quality over the Miran Field is encouraging and assists greatly with the selection of well locations. Initial interpretation of the first tranche of data acquired has highlighted increased resource potential, in particular for the Miran East structure. This potential will be targeted by the Miran East-1 exploration well to be drilled before year end.

Tony Buckingham, Chief Executive Officer, commented, "The spudding of Miran West-3 begins our active multi-well exploration and appraisal drilling program in Kurdistan. This first well is principally appraising the Cretaceous and Jurassic discoveries made in the Miran West-1 and Miran West-2 wells. We plan to provide regular announcements during the drilling of this well as the key reservoir intervals will be tested as the well is drilled."

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Petro Vista Commences Testing at Morichito Discovery

- Petro Vista Commences Testing at Morichito Discovery

Wednesday, August 03, 2011
Petro Vista Energy Corp.

Petro Vista provided the following operational update.

Morichito Block, Colombia - M5 Discovery

The Company has commenced testing from the previously announced Morichito discovery in Colombia. The M-5 well was re-entered and now has flow rates of up to 700 barrels of 22.5 degrees API crude oil per day utilizing a hydraulic jet pump from perforations in the lower Carbonera C7 zone at 5900-5902 feet. The well is currently being shut in for pressure buildup which will determine long term optimal production rate.

Originally drilled in March 2010, the M-5 previously tested two zones in the Carbonera C7 Formation and identified a third potential pay zone in the Carbonera C1 from logs and sidewall cores.

The third zone, a Carbonera C1 sand, exhibited good porosity and oil shows in sidewall cores but was not tested and will be evaluated at a later date.

Currently installed early production infrastructure has storage capacity of 2,000 barrels of crude. The infrastructure and includes four test tanks and two frac tanks with a total capacity of 3,000 barrels primary three-phase crude separation and emergency flare systems. Once the test and the pressure build up have been completed, the Company expects to commence operations intended to establish long-term production including upgrading the access road, which is expected to be completed before year-end.

Morichito Block, Colombia - M5B Exploration / Appraisal Well

Also as previously announced, the Company has drilled a second well (M5B) on the Morichito structure which had good oil shows and indications of petrophysical pay in several zones including the Carbonera C7 zone productive downdip. Due to a failed cement job, the well was not able to be properly tested. Discussions are underway with the cementing contractor to either redrill or sidetrack this well at the contractor's cost. Testing of these prospective zones will be commenced once this has been completed.

The Company currently holds a 50% participating interest in the Morichito discovery.

Block SSJN-5, Colombia

At the SSJN-5 block the operator, SK Energy, has sent Petro Vista the final field report from a 500 square kilometer 3D seismic program completed earlier this year. Processing of the survey is nearing completion. Initial studies indicate the data quality is very good and has confirmed the prospectivity of the area. The Company expects final data to be received by the end of August at which time a final interpretation will be completed. The Company holds a 25% working interest in this license. Petroamerica Oil Corp, which farmed in to half of the Company's original 50% interest in the block in turn for a carry of all costs associated with the seismic program, has until September 9, 2011 to exercise its option to acquire Petro Vista's remaining 25% interest in SSJN-5 for a payment of US$ 3,000,000 and the grant of an option to purchase common shares in the capital of Petroamerica having an aggregate value of US$3 million, with the price per share being 20% higher than the 30 day weighted average closing price immediately prior to date on which Petroamerica exercises its option to acquire the remaining 25% participating interest.

La Maye Block, Colombia

At the La Maye block the rainy season has again affected activities of the operator, New Horizon Energy. Plans to complete the apparent Noelia-1 well discovery that was drilled during the fourth quarter 2009 and to drill the license's Phase II commitment well have been delayed due to significant flooding. The operator has been attempting to test the well, but the area remains flooded. Colombia's Ministry of Environment has notified partners in the license that any further work regarding the required environmental license will only begin once the flooding subsides. The Company holds a 25% working interest in this license.

VMM-13 Block, Colombia

The Company has received confirmation from the Colombian National Hydrocarbon Agency that it will grant the Company's request to nullify the license associated with this area. Initially awarded during the ANH Mini-Round in 2008, all efforts were put on hold when it was discovered there were two national parks covering approximately 75% of the land area and 100% of the prospective area of the license.

Tartaruga Block, Brazil

The Company is awaiting approval by the Brazilian National Hydrocarbon Authority on Petro Vista's application to become a partner in the Tartaruga production license. At the Tartaruga producing field, the operator, UPP Petroleo do Brasil, is finalizing completion of additional production facilities including a new separator that is expected to enhance the productive capability of the field. A special valve has also been installed which will allow constant injection of solvent into the wellbore to inhibit buildup of paraffin which has caused production problems on the 7-TTG-1DP-SES well. Once completed, this well should be capable of producing at least 500 barrels of oil per day consistently.

Additionally, the operator is planning a workover of the older production well in the field, the SES-107D. This well is currently producing a few days per month, but it is expected that the workover will allow daily production at rates of 100-150 barrels of oil per day.

Plans are being developed to drill up to three additional wells in the field, including a deep test of a Serreria pool.

Colombia and Brazil continue to be key focus areas for Petro Vista for production and reserve growth and the Morichito production will compliment the current production from Tartaruga in Brazil. We remain committed to our efforts in Colombia in the Morichito Block as well as our remaining assets.

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Jubilant Commences Drilling Campaign in India Kharsang Field

- Jubilant Commences Drilling Campaign in India Kharsang Field

Friday, July 29, 2011
Jubilant Energy N.V.

Jubilant announced the spudding on July 28, 2011 of KPL-A, the first development well of the Phase-III drilling campaign in the Kharsang Field, Arunachal Pradesh, India. The well is located in the northern area of the field and is an infill well targeting the shallow C-50 and D-00 producing Girujan sand layers. The well, which will be deviated by 272 metres towards the northeast, will be drilled to a total depth of around 800 metres TVD, is expected to take three weeks to drill and will cost approximately USD 1.75 million, of which USD 0.44 million will be payable by Jubilant.

The well will test the Upper Girujan C-50 and D-00 sand layers that are currently producing across 10 existing wells ranging from 25 to 140 bopd. The consortium expects to encounter around 35 meters of net reservoir sand.

The well is part of the seven well Phase-III drilling campaign in Kharsang which is planned to be completed by February 2012. On completion of this well, the rig will move to the next development well of the Phase-III drilling campaign.

GeoEnpro Petroleum Ltd., a joint venture of Geopetrol and Jubilant Enpro (a member of the wider Jubilant Bhartia Group), is the operator of Kharsang Field. Jubilant holds a 25% interest in the block through its subsidiary, Jubilant Energy (Kharsang) Pvt Ltd. The other members of the consortium are Oil India Ltd and Geopetrol.

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Drilling Commences at Cooper's Rincon Well

- Drilling Commences at Cooper's Rincon Well

Tuesday, July 26, 2011
Cooper Energy Ltd.

Cooper reported that the Rincon-1 exploration well in PEL 92 spudded at 1400 hours on Friday, July 22, 2011. The surface hole has been drilled to 700 meters and 9 5/8" surface casing was run and cemented. The current operation is making preparations to drill ahead 8 1/2" hole.

The well's primary objective is the Namur Sandstone with secondary objectives in the Birkhead, Hutton and Poolowanna Formations. Rincon-1 is located 19 km northwest of the Callawonga oil field and 9.6 km northwest of the Hanson-1 oil discovery well in PEL 91. Rincon-1 will be drilled to a total depth of about 1,886 meters and is expected to take about 10 days to drill and evaluate.

The primary objective Namur Sandstone, which is the oil reservoir in the nearby oil fields, is estimated to contain 0.551 million barrels of Prospective Resources (P50). The deeper formations would be expected to add to this estimate if they result in discovery.

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Melrose Commences Drilling at Bulgaria Block

- Melrose Commences Drilling at Bulgaria Block

Thursday, July 21, 2011
Melrose Resources plc

Melrose provided an update on its exploration activities.

Highlights 

• the Company is pursuing a number of high potential exploration initiatives and plans to allocate approximately 40 percent of its capital expenditure to drilling and seismic work programs over the next three years.
• the exploration program includes projects in proven hydrocarbon basins offshore Bulgaria and Romania, as well as new frontier exploration plays in northern and southern Egypt, Turkey and offshore France.
• the Company expects to complete three exploration wells in the second half of 2011, in Turkey (on its South Mardin acreage), Bulgaria (on the Galata block) and Egypt (on the South East Mansoura concession).
• the 2011 drilling program is targeting net unrisked prospective resources of 43 MMbbl of oil and 59 Bcf of gas and two of the wells are potentially new exploration play openers with significant follow-on opportunities.
• seismic surveys acquired in early 2011 on the Mesaha concession in southern Egypt and the Rhône Maritime block offshore France will help define the longer term exploration potential in these untested frontier areas.
• seismic data will be acquired later in the year offshore Bulgaria, where the Company hopes to extend the existing proven gas play to the north of the Galata-Kaliakra field trend.

Exploration Update

Bulgaria

In Bulgaria, the Company has received formal Government notification that the Galata block exploration permit has been extended to 4 February 2013 with a work program commitment including 3D seismic acquisition and one firm well.

Following receipt of the notification, the Kaliakra East exploration well was spudded on July 20 in the Galata block. The well is targeting a structure containing net prospective resources of 59 Bcf (P50 basis) with a chance of success of 34 percent and should take approximately one month to complete.

The Company is also moving forward with its plans to acquire 500 square kilometers of 3D seismic data within the Galata block to the north of the Galata-Kaliakra field trend. This area of the concession is thought to be on the gas migration path and contains a number of leads identified on the existing 2D seismic data. The 3D acquisition contract has been tendered and the survey is expected to commence in September this year.

Turkey

Drilling operations continue on the South West Kanun well on the Company's South Mardin acreage in southern Turkey. This well has dual objectives in the Cretaceous and Ordovician formations and is targeting net prospective resources of 37 MMbbl of oil with an average chance of success of 19 percent. Intermediate casing has been set at 3,814 feet and the well is currently drilling ahead at a depth of 5,910 feet. The well has experienced some minor operational delays associated with equipment procurement and is expected to complete in mid to late August.

Egypt

The processing and interpretation of the 3D seismic data recently acquired over the Cretaceous oil play in the South East Mansoura concession has been completed. The interpretation has confirmed the presence of multiple prospects and leads with combined unrisked prospective resources of 54 MMbbl. One prospect, called Al Hajarisah, has been selected for drilling in the fourth quarter 2011 and this has prospective resources of 6 MMbbl (working interest basis) and a chance of success of 21 percent.

On the Mesaha frontier exploration concession, the 2011 2D seismic survey has been completed with a total of 1844 kilometers of data acquired. The quality of the new seismic data is superior to the 2010 2D survey and has significantly improved the definition of the sedimentary basin. Based on this encouragement, the scope of the 2011 survey was expanded as compared to the original plan (which was to acquire 700 kilometers of data) and the processing and interpretation will complete around year end. The first well is expected to be drilled on the block in the second half of 2012.

Well flow testing operations have recently been completed on the West Zahayra-1 well which was a Qawasim formation discovery made in 2008, seven kilometers west of the West Dikirnis field. Prior to testing the original well was sidetracked by approximately 114 feet and the new wellbore encountered 39 feet of net oil pay with an average porosity of 16 percent.

During testing the well flowed good quality black oil (44 degree gravity) with only small amounts of gas. The well was produced for a period of 4 days but had an unstable flow regime with oil rates fluctuating between 80 and 280 bopd. The Company is currently evaluating whether, with an improved completion design, the well may be placed on commercial production and in parallel is reviewing the field appraisal options.

France

Preliminary interpretation of the 7,500 kilometers of 2D seismic data acquired on the Rhône Maritime block earlier this year has confirmed the presence of some significant structures on the block and detailed analysis is ongoing to ascertain whether the data exhibit any direct hydrocarbon indicators. The interpretation is due to be completed late in the fourth quarter.

Romania

Melrose is planning to acquire seismic data over the Muridava and East Cobalcescu blocks offshore Romania in 2012 during the summer. A provision of $17.8 million for these surveys was included as a contingent item in the Company's 2011 capital budget and this will be rephrased in the Company's next financial forecast.

Commenting on today's announcement, David Thomas, Chief Executive, said, "This is a key period in the Company's evolution as we transition from predominantly production and development related investments to place more emphasis on our exploration portfolio. We are looking forward to seeing the results from our exploration wells in Turkey and Bulgaria, both of which represent an important part of the Company's broader exploration program. The results of the West Zahayra flow test in Egypt are also encouraging since they have extended the oil productive area of the Mansoura concession and we will be reviewing the geologic interpretation of this region in parallel with our appraisal studies on the discovery."

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Porto Commences Drilling Ops at Portugal Well

- Porto Commences Drilling Ops at Portugal Well

Thursday, July 07, 2011
Porto Energy Corp.

Porto Energy has commenced its drilling operations in the Torres Vedras onshore concession in Portugal. The SPC-1 well is the first well of a proposed two to four well exploration drilling program in the Company's Jurassic Reef Trend. The target depth of this well is anticipated to be approximately 1,970 meters and is expected to test multiple Jurassic Reef oil prospect levels as delineated by the Company's recently completed 120 km2 3D seismic survey of this area. The Company expects to reach total depth on this well in approximately thirty days.

The Torres Vedras rig is under contract from KCA Deutag and recently completed the re-entry of the ALJ- 4 well to a depth of 2,600 meters, prior to being moved to the new SPC-1 location. The ALJ-4 well is a direct offset to the Company's ALJ-2 fractured carbonate gas discovery well. The Company recovered 65.25 meters of conventional core and 430 meters of open hole logs in the Jurassic Brenha gas reservoir. The Company is currently testing and analyzing the core, logs and associated data. The Company anticipates results from this testing and analysis within the next three months and has temporarily abandoned the ALJ-4 well until then.

"With the successful re-entry of the ALJ-4 well and the collection of critical engineering and geological data, we continue to advance our asset appraisal and exploration drilling programs on our onshore concessions," said Joseph Ash, President and CEO of Porto.

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Petrobras Commences EWT Test at Aruana Area

- Petrobras Commences EWT Test at Aruana Area

Tuesday, June 28, 2011
Petrobras

Petrobras has started producing oil in the Aruanã area, in the post-salt layer of the southern area of Campos Basin, through well 1-RJS-661, located in Block C-M-401. The FPSO Cidade de Rio das Ostras, which operates in the area, will produce up to 12 thousand barrels of oil per day, limited to the capacity of equipment used.

The test of well 1-RJS-661 belongs to the Discovery Assessment Plan (PAD), approved by Petroleum Agency (ANP) for the subsequent development of the area. The exploratory block C-M-401 is located between Pampo and Espardarte fields, in water depths ranging from 350 to 1,500 meters. The formation tests, which were carried out after the drilling of well 1-RJS-661, in March, 2009, evidenced the occurrence of 27 °API oil and recoverable volumes of approximately 280 million barrels of oil.

The EWT of Aruanã will be accomplished during approximately six months. The findings of the tests will aid the studies in order to better characterize the reservoir-rock, fluids and productive potential of oil accumulations in the block.

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Drilling Commences at Barquentine Appraisal

- Drilling Commences at Barquentine Appraisal

Monday, June 27, 2011
Cove Energy plc

Cove issued the following operational update.

• Mozambique Rovuma Offshore Area 1 ("Rovuma Offshore")
  • Appraisal Drilling Commences. The Belford Dolphin drillship has commenced appraisal drilling in the Barquentine gas discovery area. Currently the rig is top setting the upper casing strings on Barquentine 3 after which it which it will drill Barquentine 2, located approximately 4kms SE of the discovery well and then return to finish Barquentine 3. This initial appraisal program which will include flow testing and core analysis is to focus on proving sufficient resources in the Oligocene gas reservoirs of the Windjammer/Barquentine discovery area in order to lay the foundations for the first LNG train.
  • New 3D Acquisition Completed. Acquisition of the new 3D seismic survey of approximately 4,448 km2over the southern and northern section of Rovuma Offshore block is now complete. This data is now being processed and will be integrated with reprocessed existing 3D data to obtain a consistent subsurface image across the entire deepwater hydrocarbon fairway. Final results are expected in Q4 this year.
  • Liquefied Natural Gas (LNG) Project. As sufficient volumes for an LNG project were encountered in the Windjammer, Barquentine and Lagosta wells the operator, Anadarko, has mobilized, in an extremely short time, a full team to pursue the LNG project such that a Final Investment Decision (FID) can be taken in 2013. Progress to date includes the identification of coastal land sites for the LNG facilities and a preliminary gas development plan.
• Kenya Deepwater Offshore.
  • Blocks L5, L7, L11A, L11B & L12. Encouraged by the interpretation of the 2010 2D seismic the partnership has elected to accelerate the work program with the acquisition of over 3,500sq kms of new 3D seismic split in to two surveys centered on L7 and straddling L11A & B.
  • Blocks L10A & L10B. Preliminary interpretation by the operator B G Group has identified a number of leads. A 3D seismic survey over the eastern part of the blocks is planned later this year.

John Craven CEO of Cove commented, "We are very pleased with the significant progress on our East Africa portfolio. The beginning of appraisal drilling offshore Mozambique is another important milestone and is the start of a continuous sequence of exploration and appraisal wells scheduled to be drilled over the coming two years complimented by a second deepwater rig arriving later this year. The new and reprocessed 3D will ensure that we are equipped to optimally evaluate the numerous oil and gas prospects on the block.

"We are also delighted with the significant progress made by the operator in pursuit of the LNG project which is running concurrently with the appraisal drilling activity.

"Our Kenya offshore blocks are also showing considerable promise which fully justifies the extensive 3D seismic that will be acquired this year."

Commenting on progress over the last year Michael Blaha, Executive Chairman of Cove said, "Looking back over the past year Cove has gone through a transformation. After the Windjammer gas discovery, offshore Mozambique, followed by three additional gas discoveries, Cove has evolved from a small exploration company to a company with significant market value participating in a world class LNG project. Current activities focus on the appraisal of the existing discoveries to enable early certification of gas reserves. This work stream is being undertaken simultaneously with the development of LNG market (sales contracts), front end engineering, environmental impact studies, the establishing of financial, commercial and legal frameworks for the project.

"After the initial Mozambique success Cove acquired equity positions in seven deep water blocks offshore Kenya. These blocks cover most of Kenya's deep water potential where extensive new 3D seismic will be acquired this year.

"Cove will continue to expand its portfolio by seeking high potential opportunities in keeping with our strategy of exploration/appraisal and monetization at the appropriate time."

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HRT Commences Drilling in Solimoes Basin

- HRT Commences Drilling in Solimoes Basin

Thursday, June 23, 2011
HRT Participacoes em Petroleo S.A.

HRT's subsidiary has spud its second exploration well, location 1-HRT-169/01-AM, codified by the National Petroleum, Natural Gas and Biofuel Agency - ANP as 1-HRT-2-AM. Drilling began on June 21 at 10:30 p.m.

This well is being drilled in the contingent resource structure called Jatobá (JOB), located in the Northeast portion of Block SOL-T-169, in the Sedimentary Basin of Solimões, in order to test the Western extension of the structural high already tested in the past by well 1-JOB-01-AM, which revealed the presence of gas in the Juruá Formation. Based on the results of previous wells, HRT expects to find in this well at least two hydrocarbon intervals: (1) The Lower Juruá Formation sandstones (Carboniferous age) and; (2) the Uerê Formation sandstones (Devonian Age), the discovery of gas being more likely to occur in the Carboniferous reservoirs and in the Devonian oil reservoirs.

This second well is located in the Municipal District of Tefé, in the State of Amazonas, and is being drilled by the QGVIII drill of Queiroz Galvão, with a forecast to reach final depth at around 3,500 meters.

HRT holds 55% participating interest in 21 exploration blocks in the Sedimentary Basin of Solimões, covering an area of approximately 48.5 thousand km2, where 52 prospects have been mapped and certified and 11 discoveries were classified as contingent resources.

Still in the month of June, it is expected that well 1-HRT-168/01-AM be spud-in. This well will be drilled in the structure mapped and classified as contingent resource called Gavião (GAV), located in the municipal district of Carauari.

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CAMAC Commences Drilling at China Well

- CAMAC Commences Drilling at China Well

Thursday, June 16, 2011
CAMAC Energy Inc.

CAMAC announced the spudding and progress of its ZJS-04 well in China. Drilling is expected to take about 50 days to reach the well's target depth of approximately 5,900 feet. Currently the penetrating depth is 2,630 feet drilled towards the main target formations.

"We are very pleased to announce the spudding of this well," said Chief Executive Officer, Kase Lawal. "The work program in China continues to move forward, which is an important step towards further evaluating the resource potential of the Zijinshan Gas Asset."

The ZJS-04 well is the second well of the three wells planned to be drilled in 2011, in accordance with the annual work program as approved by CAMAC Energy and its Chinese Partner, PetroChina CBM Co.

The Company's Zijinshan Gas Asset covers an area of 175,000 acres in the Ordos Basin in the Shanxi Province, the second largest petroleum bearing basin in China. It is in close proximity to major infrastructure, including the West-East Gas pipeline and the Ordos-Beijing Pipelines.

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Texon Commences Drilling 2nd Eagle Ford Well

- Texon Commences Drilling 2nd Eagle Ford Well

Wednesday, June 15, 2011
Global Petroleum Ltd.

Texon has advised that Tyler Ranch EFS #2H commenced drilling on June 12, 2011. This is the second Eagle Ford well in which Global Petroleum Limited ("Global") has an interest.

Tyler Ranch EFS #2H is located immediately north of the first Eagle Ford well ("Tyler Ranch EFS #1H") which had an initial production rate of 1,200 bopd. The well will have a 4,500 feet horizontal section similar to Tyler Ranch EFS #1H, and it is expected that drilling and casing operations will take 35 days. Fracture stimulation and testing of the well are scheduled for August.

Global has a 7.939% working interest (5.95% NRI) in Tyler Ranch EFS #1H and Tyler Ranch EFS #2H.

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ATP Commences Public Offering

- ATP Commences Public Offering

Tuesday, June 14, 2011
ATP O&G Corp.

ATP O&G has commenced a public offering of approximately $150 million of convertible perpetual preferred stock. The underwriters for the offering will also have a 30-day option to purchase up to 225,000 additional shares of convertible perpetual preferred stock to cover any over-allotments. We intend to use a portion of the net proceeds of this offering to pay the cost of a capped call transaction to cover all shares convertible in this transaction and our outstanding preferred shares, 13.1 million shares. The capped call transaction can prevent any dilution of outstanding common shares as long as the share price is below $27.50.

The convertible perpetual preferred stock has a liquidation preference of $100 per share and will be convertible into shares of ATP common stock at a $22.20 conversion price. ATP intends to use the net proceeds from this offering to fund capital expenditures and for general corporate purposes.

The offering will be made under the Company’s existing shelf registration statement filed with the Securities and Exchange Commission (“SEC”). This announcement is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offers of the shares will be made exclusively by means of a prospectus supplement and accompanying prospectus.

Credit Suisse Securities (USA) LLC will act as book-running manager for the offering. A copy of the preliminary prospectus supplement and related base prospectus for the offering may be obtained on the SEC website at http://www.sec.gov. Alternatively, the underwriter will arrange to send you the preliminary prospectus supplement and related base prospectus if you request them by contacting Credit Suisse Securities (USA) LLC, Prospectus Department, One Madison Avenue, New York, NY 10010.

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Drilling Commences at Petro Matad's Mongolian Well

- Drilling Commences at Petro Matad's Mongolian Well

Thursday, June 09, 2011
Petro Matad Ltd.

Petro Matad announced that the Davsan Tolgoi-6 ("DT-6") exploration well was spudded at 14:30 Mongolian time (07:30 hrs BST) on June 9, 2011.

The DT-6 well is being drilled vertically to an estimated target depth of 2,100 meters. The well is being drilled by the Company's contractor, DQE International.

The DT-6 site is approximately 2.3km SSE of DT-1. DT-6 will test a very thick section of the Tsagaantsav formation, including 234m of the Uppermost Tsagaantsav (Uvgan Gol horizon) within a well-defined northeast-trending paleovalley, as well as 364m of the underlying Lower Tsagaantsav formation.

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Oilex Commences Drilling at Cambay Well

- Oilex Commences Drilling at Cambay Well

Wednesday, June 08, 2011
Oilex Ltd.

Oilex advised that the Cambay-76H horizontal well was spudded at 00:00 hours (WST) on June 8, 2011.

The Cambay-76H "proof of concept" well will evaluate the production potential of the Y Zone interval of the extensive Eocene "tight" reservoirs in the onshore Cambay Production Sharing Contract ("PSC") in Gujarat State, India.

It is estimated that the well, which includes a 610 meter lateral section, will take approximately 35 days to drill and complete. An 8 stage fracture stimulation program of the Eocene "tight" reservoir Y Zone will then be conducted. After well clean-up, it is anticipated that a long term production test will be performed to determine flow rates, quality of hydrocarbons and commercial viability.

The results of the long term production test will also provide important information for the ongoing Independent Reserves Certification commissioned by the Company.

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Condor Commences Drilling at Kazakh Well

- Condor Commences Drilling at Kazakh Well

Tuesday, June 07, 2011
Condor Petroleum Inc.

Condor announced that Kiyaktysay North-3 ("KN-3") drilling operations have commenced on the Zharkamys West 1 Territory in Kazakhstan. The KN-3 well location targets the same Triassic geologic play that resulted in the recent Shoba discoveries. The KN-3 has a planned total depth of 1000 meters and is located 17 km southeast of Shoba.

Condor has also initiated field acquisition of a 1,280 sq km 3D seismic program in the southeast portion of Zharkamys, designed to image shallow Triassic plays as well as deeper Sub-Canopy and Pre-Salt plays. It is planned to have this program completed in Q4 2011, at which point 90% of Zharkamys will have coverage with high resolution 3D seismic data.

Don Streu, Condor's President and CEO commented, "Condor is continuing with our strategy of using 3D seismic to both explore and appraise multiple play types on the Territory. Condor believes implementation of this approach is one means to mitigate exploration risk while providing data necessary to progress commercial development activities."

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Kulczyk Oil Commences Drilling at Ukraine Well

- Kulczyk Oil Commences Drilling at Ukraine Well

Monday, May 30, 2011
Kulczyk Oil Ventures Inc.

Kulczyk Oil announced that the O-14 well in the Olgovskoye Field commenced drilling.

O-14 Exploration Well

The O-14 well is located approximately 4 kilometers to the southeast of the O-8 well. The O-14 well will be drilled to a depth of 2,800 metres and is designed to test gas-bearing reservoirs in the Muscovian and Lower Bashkirian and to further develop the gas production capability of the Olgovskoye Field. The drilling of the O-14 well is expected to take approximately 35 days.

The well, which will target a previously untested fault block identified after interpretation of 2D seismic data by the KOV/KUB-Gas technical team, is on trend with the main Olgovskoye producing area. A successful well in this fault block has the potential to substantially increase the current reserves base of the Company in Ukraine. RPS, the Company's independent engineering consulting firm, has assigned Contingent Resources to the 70% effective interest of KOV of 3.2 billion cubic feet ("Bcf") (Low Estimate), 12.3 Bcf (Best Estimate) and 29.1 Bcf (High Estimate) of natural gas to the untested fault block.

The O-14 well is the third new well drilled in the Olgovskoye field since the Company acquired its interest in KUB-Gas in June 2010. It is part of a larger development programon the KUB-Gas assets through 2011 and 2012.

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