Aminex Drills Ahead Offshore Tanzania

- Aminex Drills Ahead Offshore Tanzania

Friday, August 26, 2011
Aminex plc

Aminex reported progress on the Nyuni-2 exploration well, currently being drilled from Nyuni Island off the coast of Tanzania in the Indian Ocean.

Nyuni-2 was spudded on June 17 using the Caroil Rig-6, to target Lower Cretaceous age Neocomian sandstones, similar to those found in Aminex's nearby Kiliwani North gas field and in the producing Songo-Songo gas field. The well is being drilled from a pad on Nyuni Island at an angle of 30 degrees from vertical, to target a bottom hole location approximately 1,200 meters SE of the surface location. Planned measured total depth is 3,325 meters from the rotary table on the rig.

With the exception of an 8 day period when the rig was shut down due to a requirement to replace damaged equipment, drilling operations have made satisfactory progress to date and 9 ?" casing is now being run to the current total measured depth of 2,945 meters. Once the well has been safely cased to this point, drilling will resume towards its target. The result of the well will be announced at the earliest opportunity.

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Imperial Drills Ahead at Green Tide SWDF

- Imperial Drills Ahead at Green Tide SWDF

Thursday, August 25, 2011
Imperial Resources Inc.

Imperial announced that the operation to deepen the disposal well at the Company's Green Tide Salt Water Disposal Facility ("SWDF") continues to be drilled ahead vertically from the sidetrack.

As of 18:00 local time on August 24, 2011 the well was at 5,700 feet drilling ahead toward the target formation. To date no major issues have been encountered. The Company anticipates it will reach a total depth of 7,500 feet (approximately 500 feet into the Ellenburger formation) at which point the aim will be to set casing and cement from the bottom of casing back up to 5,700 feet. Once completed, the current rig will be released and replaced by a smaller workover rig which will attempt to drill further into the Ellenburger formation to reach some high porosity strands within the formation to enable maximum potential disposal capacity.

Subject to success, commercial disposal operations are expected to start 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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GeoEnpro Drills 2nd Well in Kharsang Drilling Campaign

- GeoEnpro Drills 2nd Well in Kharsang Drilling Campaign

Monday, August 22, 2011
Jubilant Energy N.V.

Jubilant announced that KPL-C, the second of the seven development wells of the Phase-III drilling campaign in the Kharsang Field, Arunachal Pradesh was spudded on August 22, 2011.

The first development well KSG#57 (previously referred to as KPL-A), which was spudded oJuly 28, 2011, has been successfully drilled within budget and time by 15 August 2011. Based on the Wireline log interpretation results, formation pressure data from Sequential Formation Testing and Side Wall Core results, the consortium has identified four separate intervals totaling to 20 meters of net sand for testing. The well KSG#57 will be tested with the smaller capacity work-over rig which was deployed at the site on 21 August 2011. The testing results are expected within 7 to 10 days from the start of the testing.

KPL-C, the second development well is located in the eastern area of the field and is a step out location to target the shallow C-50, D-00 and also deeper Girujan reservoirs. The well will target structurally higher bright amplitude prospects identified by Seismic in this eastern part of the field. The well will be deviated by approximately 712 meters to the ESE direction from the existing plinth of well KSG-39 and a target depth of around 1224 meters True Vertical Depth ("TVD") with the option of continuing to 1598 meters TVD if appropriate. The well is expected to take four weeks to drill and the estimated cost is approximately USD 2.3 million (USD 0.57 million net to Jubilant).

GeoEnpro Petroleum Ltd., a joint venture of GeoPetrol and Jubilant Enpro (a member of the wider Jubilant Bhartia Group), is the operator of the 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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GeoEnpro Drills 2nd Well in Kharsang Drilling Campaign

- GeoEnpro Drills 2nd Well in Kharsang Drilling Campaign

Monday, August 22, 2011
Jubilant Energy N.V.

Jubilant announced that KPL-C, the second of the seven development wells of the Phase-III drilling campaign in the Kharsang Field, Arunachal Pradesh was spudded on August 22, 2011.

The first development well KSG#57 (previously referred to as KPL-A), which was spudded oJuly 28, 2011, has been successfully drilled within budget and time by 15 August 2011. Based on the Wireline log interpretation results, formation pressure data from Sequential Formation Testing and Side Wall Core results, the consortium has identified four separate intervals totaling to 20 meters of net sand for testing. The well KSG#57 will be tested with the smaller capacity work-over rig which was deployed at the site on 21 August 2011. The testing results are expected within 7 to 10 days from the start of the testing.

KPL-C, the second development well is located in the eastern area of the field and is a step out location to target the shallow C-50, D-00 and also deeper Girujan reservoirs. The well will target structurally higher bright amplitude prospects identified by Seismic in this eastern part of the field. The well will be deviated by approximately 712 meters to the ESE direction from the existing plinth of well KSG-39 and a target depth of around 1224 meters True Vertical Depth ("TVD") with the option of continuing to 1598 meters TVD if appropriate. The well is expected to take four weeks to drill and the estimated cost is approximately USD 2.3 million (USD 0.57 million net to Jubilant).

GeoEnpro Petroleum Ltd., a joint venture of GeoPetrol and Jubilant Enpro (a member of the wider Jubilant Bhartia Group), is the operator of the 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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Aurora Drills Ahead at Tx. Alwan West Prospect

- Aurora Drills Ahead at Tx. Alwan West Prospect

Thursday, August 11, 2011
Victory Energy Corp.

Victory, through its partnership with Aurora Energy Partners, announced that its Alwan West (#1 Goff Mineral Trust) prospect well was spud on August 2, 2011 and is currently drilling ahead at 5,097 feet.

Prior to reaching the proposed target depth of 7,100 feet, all three target sands (first Yegua, Frio and second Yegua) will be tested. All three sands are anticipated to be reached and tested in the coming days. These sands do not require a fracking procedure to be productive. Anticipated completion after a successful testing generally occurs in less than two weeks.

The lease area is surrounded on all sides by gas condensate production and a delivery pipeline is within 1,000 feet of the well.

Alwan West lies on strike between two Yegua fields, Lost Fork (one mile west) and AVO Grande (3,000 feet east). Lost Fork has produced over 42 BCF, while AVO Grande has produced 7 BCF of natural gas. Both of these fields are stratigraphic traps, as is the Alwan West prospect. This area produces from the Frio and Yegua (Oligocene) formations.

This prospect's potential reservoir covers an area of 175 acres and has a reserve potential of 8.5 billion cubic feet (BCF) of natural gas and 43.75 thousand barrels of gas condensate.

The reserve potential is based on 50 feet of reservoir sand, one million cubic feet per acre-foot of natural gas and five barrels per million cubic feet of gas condensate. These reserve estimates are for the first Yegua sand only, which is the primary objective, and do not include potential in the secondary objectives.

The Alwan West prospect is located in far western Wharton County, Texas, near the Jackson County line. Victory Energy acquired the prospect, which includes a 5 percent working interest (WI) and a 3.8 percent net revenue interest (NRI), from Miramar Petroleum, Inc. of Corpus Christi, Texas, who will be the operator and who also owns a significant working interest in the well.

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Range Successfully Drills First Development Well in Trinidad

- Range Successfully Drills First Development Well in Trinidad

Monday, August 08, 2011
Range Resources Ltd.

Range announced that in the two months since completing its Trinidad acquisition, the Company has successfully drilled its first development well on the Morne Diablo Block.

As part of the initial 21 well drilling program, the MD 247 well was drilled to a total depth of approximately 900 ft using the Company's own drilling rig and personnel. Despite the shallow depth, open hole logs indicate the presence of roughly 145 ft. of net oil pay in the shallow Forest Formation, an established producing horizon on the block. Casing is currently being run in the well in preparation for production testing next week.

Added Peter Landau, Range's Executive Director, "The successful drilling of the MD 247 well indicates that Range's aggressive program to increase production and cash flow in Trinidad is on track and the first pay zone size has exceeded expectations. As previously announced, we will be adding a second and third rig to the remaining 20 well 2011 drilling program in order to begin exploitation of deeper producing reservoirs. The MD 247 well is only the beginning for us in Trinidad, but represents an important milestone for Range as our first internationally operated well, drilled and completed by the Company's own operations team using our own equipment."

The Company looks forward to keeping our shareholders updated as our drilling program continues in Trinidad, Georgia, Texas, and Puntland, in what will be an exciting period for Range with wells being drilled on all four the Company's assets in the coming months.

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Kodiak Drills Ahead in Williston Basin

- Kodiak Drills Ahead in Williston Basin

Thursday, August 04, 2011
Kodiak O&G Corp.

Kodiak O&G announced its second quarter 2011 financial and operational results. The Company also provided an interim operations update on its Williston Basin drilling and completion activities.

Highlights Include:

• 2Q 2011 Earnings of $8.2 Million, Before Unrealized Derivatives Gain
• Oil & Gas Sales of $22.1 Million, a 261% Increase
• Equivalent Sales Volumes 238,000 BOE, a 149% Increase
• Adjusted EBITDA of $13.7 Million, 377% Growth
• Two New Bakken Well Completions in McKenzie County, N.D.

Second Quarter 2011 Financial Results

The Company reported net income for the second quarter 2011 of $14.0 million, or $0.08 per basic and diluted share, compared with net income of $621,000, or $0.01 per basic and diluted share, for the same period in 2010. Included in the second quarter 2011 net income calculation are unrealized derivative gains of $5.8 million attributed to the non-cash change in the value of derivatives utilized for commodity price risk management. Excluding the effect of unrealized derivative gains, a non-cash credit, Kodiak would have reported adjusted net income (a non-GAAP measure) of $8.2 million for the second quarter 2011, or $0.05 per basic share and $0.04 per diluted share.

For the quarter-ended June 30, 2011, the Company reported oil and gas sales of $22.1 million, as compared to approximately $6.1 million during the same period in 2010, a 261% increase and a Company record. Crude oil revenue accounted for approximately 97% of second quarter 2011 oil and gas sales, and crude oil constituted 94% of sales volumes for the quarter. Kodiak posted a 157% increase in oil sales volumes and a 72% increase in gas sales volumes for an overall 149% increase in quarter-over-quarter equivalent sales volumes of 238,000 barrels of oil equivalent (BOE).

Adjusted EBITDA, a non-GAAP measure, was $13.7 million for the second quarter 2011, as compared to $2.9 million in the same period in 2010, a 377% increase and another Company record. Kodiak defines Adjusted EBITDA as net income before (i) interest expense, (ii) income taxes, (iii) depletion, depreciation, amortization, and accretion (iv) impairment, (v) non-cash expenses relating to share based payments recognized under ASC Topic 718, (vi) pre-tax unrealized gains and losses on foreign currency, and (vii) pre-tax unrealized gain and losses on commodity price risk management activities. A reconciliation of Adjusted EBITDA to net income is included in the financial tables later in this earnings release.

Kodiak reported record net cash provided by operating activities for the second quarter 2011 of $16.3 million, as compared to $7.2 million in the same period in 2010. The Company reported cash used in investing activities of $116.8 million during the second quarter of 2011, of which approximately $30.6 million was invested for the drilling and completion of wells and for infrastructure in its Williston Basin drilling program. The Company also invested $85.8 million during the second quarter 2011 to acquire an additional 25,000 net acres and producing properties in the Williston Basin which closed on June 30, 2011.

Second Quarter 2011 Expense Analysis

For the quarter-ended June 30, 2011, general and administrative (G&A) expense was $4.2 million, as compared to $2.6 million for the same period in 2010. The increase in total G&A is attributed primarily to the hiring of new personnel as the Company continues to expand its operations. The Company had 52 employees at June 30, 2011, as compared to 27 employees at June 30, 2010. Included in the second quarter 2011 G&A expense is a non-cash, stock-based compensation charge of $947,000 million, as compared to $866,000 for the same period in 2010.

Kodiak's lease operating expense (LOE) for the second quarter 2011 was $4.4 million, as compared to $1.5 million during the same period in 2010. The increase in LOE is attributed to additional production expense associated with a growing number of producing wells. Severance taxes were also higher due to increased oil and gas revenues during the 2011 period, as compared to the 2010 period.

Depletion, depreciation, amortization, and accretion (DD&A) expense for the second quarter 2011 was $4.5 million, as compared to $1.5 million for the same period in 2010. The increase is primarily due to the increase in sales volumes and, to a lesser extent, an increase in the per-unit charge.

Williston Basin Operations Update

Kodiak's four operated drilling rigs are presently drilling ahead on multi-well drilling pads. Two rigs are drilling in McKenzie County, and two rigs are drilling in Dunn County. The Company anticipates that the fifth operated drilling rig will be mobilized to McKenzie County when construction of the rig is completed in the fourth quarter of 2011.

As previously announced, the Company's completion activities are progressing according to schedule, and Kodiak expects to complete or commence completion operations on 10 gross and 7.5 net operated wells in the Williston Basin during the third quarter of 2011, including the Koala wells. In addition, the Company expects to participate in the completion of four gross (2.0 net) non-operated wells in the third quarter of 2011.

Management Comment

Commenting on second quarter 2011 results, Kodiak's Chairman and CEO Lynn A. Peterson said, "Kodiak's second quarter results were the strongest in Company history. We reported robust growth in several of the metrics that we monitor to assess our progress and performance. The results from our Koala project area wells are very encouraging and further demonstrate the productive potential in this prolific area of the Williston Basin. The four Koala wells that we have completed to date are all very strong wells with production established from middle Bakken as well as the Three Forks. The wells were drilled in a manner which continues to test the density of well bores and the communication between reservoirs. Well performance will be monitored over the coming quarters.

"As we look at the anticipated ramp-up in our production, combined with the $160 million of cash obtained from the public offering of common stock, the Company is in its strongest financial position ever. We announced the expansion of our borrowing revolver recently and we anticipate that the facility will continue to expand as we bring additional wells on during the remaining months of 2011 and beyond. We expect to selectively add to our Williston Basin acreage position and expect increased drilling and completion activity in the upcoming quarters. We believe we now have ample liquidity through our cash balances, operating cash flow and access to our credit facilities to fund our expanding drilling program."

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Dragon Oil Drills Ahead at Lam Well

- Dragon Oil Drills Ahead at Lam Well

Wednesday, August 03, 2011
Dragon Oil plc

Dragon Oil announced the completion and initial testing of the Dzheitune (Lam) 28/158 development well. The well was completed as a single producer by the NIS rig to a depth of 1,786 meters. The initial test result from the well was 2,876 barrels of oil per day ("bopd"). The NIS rig has skidded to the next slot and is in the process of spudding the Dzheitune (Lam) 28/161 well. The Iran Khazar rig and Rig 40 are currently drilling the Dzheitune (Lam) B/159 and 13/160 wells, respectively.

Dr. Abdul Jaleel Al Khalifa, Chief Executive Officer, commented, "I am pleased to report the successful completion and initial testing of the Dzheitune (Lam) 28/158 well. The Group is currently producing at a healthy rate of above 60,000 bopd, which puts us in a comfortable position to ensure meeting our gross production growth target by the end of the year."

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Range Drills Ahead at Georgia Well

- Range Drills Ahead at Georgia Well

Thursday, July 28, 2011
Range Resources Ltd.

Range Resources, along with its joint venture partners, Strait and Red Emperor announced that following the successful spudding of the Mukhiani 1 well earlier this month, the well is currently at 510m.

As was expected in the early stages of drilling, progress was relatively slow, however the Company reported that the last few days has seen drilling progress as planned with the lithology encountered being in line with expectations (derived from seismic interpretations and analysis). It is anticipated that drilling will continue to circa 700m after which casing will be set and logging performed.

The Mukhiani Well is targeting the Vani 3 prospect which has the following estimated undiscovered stock tank oil-in-place ("STOIIP"):

• Vani 3 Prospect - STOIIP (MMbbls)
• P90 P50 P10 Mean
• Gross (100%) 41.7 92.7 178.2 115.2
• Net Attributable to Range (40%) 16.7 37.1 71.3 46.1

The recently completed geochemical helium survey undertaken by Range confirmed the suitability of the first drill location with oil exploration and development prospectivity complementing the earlier seismic work completed on the target.

The Company will continue to provide updates on a 7-10 day basis as to the progress of the drilling of the Mukhiani well.

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Idemitsu Petroleum Drills Duster in North Sea

- Idemitsu Petroleum Drills Duster in North Sea

Tuesday, July 26, 2011
Norwegian Petroleum Directorate

Idemitsu Petroleum Norge, operator of production license 377 S, has completed the drilling of wildcat well 35/7-1 ST2. The well was drilled about seven kilometers west of the Vega field in the North Sea.

The primary exploration target for the well was to prove hydrocarbons in Middle Jurassic reservoir rocks (the Brent group). The secondary exploration target was to prove hydrocarbons in the Cook formation from the Early Jurassic Age. The well encountered both the Brent group and the Cook formation, but both had poorer reservoir quality than expected. Data acquisition and sampling have been carried out, and this has been classified as a dry well.

The well is the first wildcat well in production license 377 S, which was awarded in APA 2005.

The well was drilled to a vertical depth of 4773 meters below the sea surface, and was terminated in the Dunlin group from the Early Jurassic Age. The water depth at the site is 386 meters. The well will now be permanently plugged and abandoned.

Well 35/7-1 ST2 was drilled by the Aker Barents drilling facility, which will now proceed to production license 482 in the Norwegian Sea.

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Entek Drills Ahead at Niobrara Shale Proj.

- Entek Drills Ahead at Niobrara Shale Proj.

Thursday, July 21, 2011
Entek Energy Ltd.

Entek provided an update on the Niobrara Shale Oil Project Appraisal Program in the Green River Basin.

Battle Mountain 14-10L- current operation, drilling ahead at 805 ft after setting surface casing and testing rig equipment. The proposed total depth of the well is 7,600 ft.

Entek holds a 55% interest in the Green River Basin Joint Venture (GRBJV) with Emerald Oil & Gas holding 45%. Entek is the Operator. The GRBJV now controls close to 80,000 gross acres, approximately 60,000 net acres, covering the Niobrara Shale Oil Play.

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E.ON Ruhrgas Drills Duster in North Sea

- E.ON Ruhrgas Drills Duster in North Sea

Tuesday, July 19, 2011
Norwegian Petroleum Directorate

E.ON Ruhrgas Norge AS, operator of production license 416, has completed the drilling of wildcat well 31/8-1. The well was drilled about 16 kilometers southwest of the Troll field.

The primary exploration target for the well was to prove petroleum in Upper Jurassic reservoir rocks (the Sognefjord formation). The secondary exploration target was to prove petroleum in Middle to Lower Jurassic reservoir rocks (the Fensfjord, Krossfjord and Johansen formations and the Brent group).

Reservoir rocks with expected reservoir quality were encountered in the Sognefjord formation, but the well was dry. No petroleum was proven in the secondary exploration targets either. Data acquisition and sampling have been carried out.

This is the first exploration well in production license 416. The license was awarded in APA 2006.

The well was drilled to a vertical depth of 2598 meters below the sea surface, and was terminated in the Brent group in the Middle Jurassic. Water depth at the site is 304 meters. The well will now be permanently plugged and abandoned.

Well 31/8-1 was drilled by the Borgland Dolphin drilling facility, which will now proceed to production license 471 in the Norwegian Sea to drill wildcat well 6407/5-2 S, where OMV Norge AS is the operator.

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Devon Drills Well in Tx. Panhandle

- Devon Drills Well in Tx. Panhandle

Friday, July 15, 2011
Breitling O&G Corp.

Breitling O&G has spud the Breitling-Buffalo Run #1H on July 10, 2011 in Hemphill County, Texas.

The Breitling-Buffalo Run #1H is a 15,900-foot TMD well located in the prolific Buffalo Wallow field in the Texas Panhandle. The Breitling-Buffalo Run #1H is targeting the Granite Wash sections A through G.

Management anticipates the well will reach total depth in about 37 days. Well completion and testing should begin during the first week of September. The well is being operated by Devon Energy Corporation.

The company declined to disclose reserve potential or any further details regarding the prospect to the public.

Breitling Oil and Gas CEO Chris Faulkner stated, "We are excited to be participating with Devon Energy on the Buffalo Run well." Faulkner added, "The vertical wells in the Buffalo Wallow field have been great producers and we are excited to step out and drill a horizontal."

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Phoenix Drills Ahead at Marathon Well

- Phoenix Drills Ahead at Marathon Well

Wednesday, July 13, 2011
Petsec Energy Ltd.

Petsec advised that as at July 12, 2011, the Marathon #2 well had reached a measured depth of 18,845 feet (5,744 meters), 7 inch liner had been set and preparations were being made to drill ahead. The well is projected to reach its total depth of 21,000 feet (6,500 meters) within approximately 2 weeks.

The Marathon #2 well is a follow up to the successful #1 well and is situated in approximately 8 feet (2.4 meters) water depth and is located approximately 900 meters from the #1 well location. The #2 well is designed to serve as a development well for the field as well as to test deeper exploratory reserve potential on the Marathon structure.

Participating working interests in the well are:

• Petsec Energy Ltd 8%
• Phoenix Exploration Company LP (operator) 65%
• Private Companies 27%

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Rodinia Drills Ahead at Mulyawara Well

- Rodinia Drills Ahead at Mulyawara Well

Tuesday, July 05, 2011
Rodinia Oil Corp.

Rodinia reported that Mulyawara-1 exploration well in the Officer Basin of South Australia has set surface casing and is drilling ahead to target formations.

rogress and Plan

Mulyawara-1 has reached a depth of 795 meters with surface casing set at 465 meters in the Dey Dey Mudstone. The well will commence intersecting prospective target formations below the Dey Dey Mudstone, which acts as the upper regional seal in the Officer Basin.

"To date, I am pleased with the rates of penetration into this very hard surface section," stated Paul Bennett, President and Chief Executive Officer of Rodinia. "Our plan is to continue drilling ahead using the air hammer drilling technique as far as possible and if necessary, switch to rotary drilling should penetration become too difficult."

Mulyawara-1 is located in the northwest corner of PEL 253 in the Officer Basin on a structure of approximately 36.3 square kilometers (per horizon) in size as identified on seven separate 2-D seismic lines. It will be drilled vertically to an estimated total drilling depth of 2,700 meters to test five prospective reservoir horizons: Murnaroo, Tarlina, Mundallio, Emeroo and Pindyin, the deepest of which is the aeolian Pindyin sandstone (also called the sub-salt unit).

As Mulyawara-1 is entering the prospective target formations, management of Rodinia has imposed an operational trading blackout on all officers, employees, directors and consultants until the results of the exploration well are made public at the conclusion of drilling and preliminary evaluation.

Rodinia expects to issue the next drilling update report once Mulyawara-1 has reached total depth early August 2011, unless a material event occurs in the interim.

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Statoil Successfully Drills Peregrino South Sidetracks

- Statoil Successfully Drills Peregrino South Sidetracks

Monday, June 20, 2011
Rigzone Staff
by Karen Boman

Statoil has reported successful discoveries in both side tracks on the Peregrino South well, immediately adjacent to the newly opened Peregrino field offshore Brazil. Both wells were drilled by Fred Olsen semisub Blackford Dolphin.

The estimates of recoverable volumes in Peregrino South are between 150 – 300 million boe. This discovery brings a phase two development of the Statoil operated Peregrino field considerably closer.

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Oilex Drills Ahead at Cambay Well

- Oilex Drills Ahead at Cambay Well

Wednesday, June 15, 2011
Oilex Ltd.

Oilex advised that at June 14, 2011 the Cambay-76H horizontal well was drilled to a depth of 601 meters and is preparing to drill ahead.

• Report date: June 14, 2011
• Status: Preparing to drill ahead
• Operations:
  • Spudded well on June 8th
  • Drilled 17 ½" hole to 601 meters
  • Set 13 ⅜" casing to 599 meters
• Objectives: Cambay Eocene "tight" reservoir Y Zone
• Kick off point for deviation: Approximately 1,100 meters
• Planned Total Depth (TD): Approximately 2,885 meters
• Days to TD: Approximately 35 days on a trouble free basis

Cambay Eocene Tight Reservoirs

The Company is making progress in unlocking the potential of the Cambay "tight" Eocene reservoirs that extend across the 161 km2 Cambay Production Sharing Contract ("PSC") area in onshore Gujarat, India. The Company intends to evaluate and exploit these reservoirs using horizontal drilling and fracture stimulation technology that has been developed and proven in North America.

The Cambay-76H "proof of concept" horizontal well will evaluate the production potential of the Y Zone interval of these "tight" reservoirs. An 8 stage fracture stimulation program will be conducted and 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 participating interests in the Cambay PSC are:

• Oilex Ltd (Operator) 30%
• Oilex NL Holdings (India) Limited 15%
• Gujarat State Petroleum Corporation Ltd 55%

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Norwest Drills Ahead at Arrowsmith Well

- Norwest Drills Ahead at Arrowsmith Well

Thursday, June 09, 2011
AWE Ltd.

AWE reported that at 0600 hours today (WST) the Arrowsmith-2 exploration well was drilling ahead at a measured depth of 2,291 meters after running and cementing 9-5/8" casing at a measured depth of 2,284 meters, as planned. Progress for the week was 1,691 meters.

The Arrowsmith-2 well is designed to test the unconventional gas potential of the Carynginia Formation, Irwin River Coal Measures and Kockatea Shale and will be drilled to a proposed total depth of approximately 3,420 meters.

The well is located approximately 25 kilometers from the Woodada Deep-1 well (deepened by AWE in April 2010 to acquire cores over the Carynginia Shale interval), and approximately 500 meters south east of the Arrowsmith-1 well, which tested gas from the Carynginia Formation.

During drilling, the joint venture is planning to cut conventional cores from the middle Carynginia Shale and Irwin River Coal Measures. On completion of drilling, the well will be suspended for future fracture stimulation and testing which is planned for later in the year.

The participants in EP 413 are:

• AWE Limited (via subsidiaries) 44.252%
• Norwest Energy NL (Operator) 27.945%
• Bharat PetroResources Ltd 27.803%

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Cooper Drills Duster at Turton Well

- Cooper Drills Duster at Turton Well

Wednesday, June 08, 2011
Cooper Energy Ltd.

The Turton exploration well, located in the Cooper basin onshore South Australia, has drilled to a total depth of 1777.5 mRT and wireline logs have been run and interpreted.

During drilling there were no hydrocarbon shows observed in the primary objective (Namur Sandstone) or secondary objectives (Birkhead and Poolowanna Formations) and the evaluation of the wireline logs has confirmed the absence of hydrocarbons in all objective horizons.

The Turton-1 well has been plugged and abandoned as dry hole, and the rig released on June 6, 2011.

The rig is currently moving to the Westall-1 drill site.

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Icon Drills Ahead at Lydia Well

- Icon Drills Ahead at Lydia Well

Tuesday, June 07, 2011
Icon Energy Ltd.

Icon announced that Lydia-12 has been drilled to a depth of 900 meters. Using a 1.8 gm/cc density cutoff a cumulative total of 8.9 meters of coal was penetrated in the well. Three drill stem tests were run to evaluate coal flow potential. All intervals indicated low permeabilities.

The Atlas Drilling Rig #2 has now moved 11 kilometers south east to the Lydia-13 location, which was spudded at 11:00am on Monday, June 6.

Lydia-13 is the last well in the four well drilling program in ATP626P designed to establish sweet spots for gas content, coal thickness and permeability.

The joint venture determined to not proceed with Lydia-12, which has now been plugged and abandoned.

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