Entek IDs Oil Shows at Niobrara Shale Well

- Entek IDs Oil Shows at Niobrara Shale Well

Thursday, August 25, 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 – The Frontier (secondary objective) has been successfully fracture stimulated and is currently flowing back fracture stimulation fluid. The well is being unloaded and initial testing will commence over the next week. The completion program for the Niobrara (primary objective), which includes fracture stimulation and testing, is on schedule to start in September 2011.

Slater Dome (SD) Federal 24-9DL – The well has successfully reached its total depth of 8,300 ft after penetrating both the Niobrara and Frontier Formations Formations with oil shows while drilling. The well is now being prepared for wire-line logging.

C&C Cattle 18-8 – Location preparation is complete and awaiting arrival of the rig from the SD Federal 24-9 location.

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Ascent IDs 400 Bcf of Gas-in-Place at Slovenia Well

- Ascent IDs 400 Bcf of Gas-in-Place at Slovenia Well

Tuesday, August 23, 2011
Ascent Resources plc

Ascent has successfully completed the drilling of the Pg-10 well at the Petišovci Project in Slovenia. The results confirm the reservoir quality and potential commerciality of the Middle Miocene reservoir section, which is independently estimated to contain over 400 Bcf of gas-in-place, and delineate the substantial new deeper reservoir section discovered by the Pg-11A well.

The Pg-10 well was drilled to a total depth of 3,545m. The appraisal of the deeper Miocene or 'K' sand reservoirs showed a total of approximately 123m of new net additional reservoir with 63m of good to moderate sand quality along with another 60m of poorer quality sands in a 370m gross reservoir section. Importantly, gas is present throughout the 'K' sand in PG-10 and with the total depth of the well 45m below Pg-11A, it increases the depth of the deepest known gas. The independent audit of the gas-in-place estimate of 412 Bcf attributable to the Project by RPS Energy ('RPS') will now be updated. Given the larger than expected thicker reservoir discovered by Pg-10, Ascent remains confident that the RPS P50 gas in place estimate will increase significantly.

Both Pg-10 and Pg-11A are now being completed in preparation for fracture stimulation. Mobilization of fracturing equipment is planned for September 2011. Following the appointment of global oil services company Halliburton as the contractor for fracturing and ancillary services, final treatment design is underway. This fracture stimulation program is being funded from existing cash resources.

Ascent's Managing Director, Jeremy Eng commented, "The results from Pg-10 are highly encouraging and have defined substantial additional gas resources in the deeper Miocene 'K' sands. Our efforts are now focused on the fracture stimulation of Pg-10 and Pg-11A, which we believe will unlock the significant intrinsic value of the project."

Ascent through its wholly owned subsidiary Ascent Slovenia Limited, has a 75% interest in the Petišovci Project. Ascent's partner is Geoenergo with a 25% interest. Geoenergo d.o.o. is the holder of the Petišovci Exploitation Concession and is a company jointly owned by Nafta Lendeva, the Slovenian State Oil Company and Petrol, the leading energy conglomerate in Slovenia.

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Bering IDs New Prospect in Permian Basin

- Bering IDs New Prospect in Permian Basin

Wednesday, August 03, 2011
Bering Exploration Inc.

Bering has identified a new prospect through its exclusive partnership with Glaux Oil & Gas, LLC (Glaux) that covers 500,000 acres in the Permian Basin. This new prospect of approximately 640 acres has potential gross reserves of 950,000 barrels of oil and, based upon today's prices, equates to $88 million dollars of gross revenues or $3.50 per share. There is no guarantee that this prospect will be successful or that these numbers will be achieved due to production and/or price fluctuations. Bering is currently conducting its technical assessment and once satisfactorily completed will begin leasing the mineral rights. Bering expects to initially retain a100% working interest.

This prospect was the first identified as a result of its recently announced three year exclusive exploration agreement with Glaux for the development of numerous leads and prospects in approximately 500,000 gross acres in West Texas using a proprietary aeromagnetic survey. Once leased, Bering will use other advanced oil finding technologies such as telluric and seismic to identify well locations.

The Permian Basin is one of the largest and most active oil basins in the United States, with the entire basin accounting for approximately 19 percent of total U.S. oil production. The Permian Basin remains a significant oil-producing province and contains an estimated 30 Billion barrels of remaining mobile oil and has the biggest potential for additional oil production in the country, containing 29% of estimated future oil reserve growth. Through increased use of enhanced-recovery practices the Permian Basin can have a substantial impact on U.S. oil production.

"We are excited to have our initial prospect generated by Glaux and expect to begin the leasing phase later this month," stated Steven Plumb, VP of Finance of Bering. "Our exclusive relationship with Glaux has provided us with this quality prospect that has been identified using unique and exciting technologies."

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Petrolympic IDs Oil at Chittam Ranch Well

- Petrolympic IDs Oil at Chittam Ranch Well

Wednesday, July 13, 2011
Petrolympic Ltd.

Petrolympic provided an update on the drilling of its appraisal well 80-2v on the Chittam Ranch property. The company has completed logging and taking Side Wall cores from the 80-2V. These cores have been sent to the lab and the initial analysis has revealed oil showings in the core from at least three oil bearing horizons including the Georgetown. Casing has been set and cemented to Target Depth. Given the results to date, the Company has decided to complete in the Georgetown and has already perforated two zones with plans to perforate additional zones. Petrolympic is currently awaiting arrival of the Stimulation crew, scheduled to be on site before the end of July. Petrolympic expects to announce production rates following completion of the well.

"We are very encouraged by the core that has been sent to the lab for analysis and we are eager to begin completion of the well," said CEO Mendel Ekstein. "The delay in the obtaining the Stimulation crew is indicative of the rapid growth of drilling activity in area. We continue to be very pleased with our decision to diversify our resource base and expand into the United States. Our goal now is to quickly move into the production phase of this project."

During drilling of the well, Petrolympic penetrated 7 oil and gas bearing horizons with the initial target horizon for production being the Georgetown. The Chitham Ranch well is being drilled by Petrolympic as part of an earn in agreement with Texas HBP and Shell Western E&P, pursuant to which Petrolympic has the right to earn a 50% working interest (yielding a 37.5% net revenue interest) in the Chittim Ranch property

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Caza IDs Potential Pay at O.B. Ranch Well

- Caza IDs Potential Pay at O.B. Ranch Well

Thursday, July 07, 2011
Caza O&G Inc.

Caza O&G provided an operational update on the Company's Bongo Property concerning the O.B. Ranch #2 development well in Wharton County, Texas.

Caza, as operator, announced that the O.B. Ranch #2 development well has reached its target depth of 13,210 feet and electric logs have been obtained through the target depth. The logs indicate potential pay in the Frio, Yegua and targeted Cook Mountain formations.

Data from the logs and core samples from the well have confirmed Caza's geologic and seismic modeling, which hypothesized that the O.B. Ranch #1 discovery well (which originally targeted a deeper Wilcox structure) was producing from the fringe of a more extensive Cook Mountain sand package. The O.B. Ranch #2 development well has been drilled closer to what Caza believes to be the center of the Cook Mountain anomaly with the aim of gaining valuable geologic knowledge of the Bongo/Cook Mountain sand and the regional Cook Mountain sand picture, while adding further production to the Company's portfolio.

The O.B. Ranch #2 is in a higher structural position than the O.B. Ranch #1 well, and log and seismic data support thicker, better sorted, potential pay sands with better porosity within the Cook Mountain section than those found in the O.B. Ranch #1. Due to concerns over existing downhole conditions, Caza was unable to run the micro imaging tool used in the O.B. Ranch #1 well, which helps to identify net effective pay. However, the Company was able to run a high resolution triple combination logging tool, which was more than adequate to define lithology and potential pay sections within the wellbore.

Caza is currently running production casing and preparing the O.B. Ranch #2 well for further completion operations in the Cook Mountain. The completion procedure will include a fracture stimulation program, which is scheduled for the end of July, 2011. The initial rate will be announced following completion of the fracture stimulation procedure.

The log data also indicates potential pay in the shallower Frio and Yegua formations at approximately 5,530 feet and 9,000 feet respectively.

Caza currently has a 45.28% working interest and an approximate 33.51% net revenue interest in the Bongo property and wells.

W. Michael Ford, Caza's Chief Executive Officer commented, "We are very pleased with the results of the O.B. Ranch #2 well. The data from this well has confirmed our scientific model and will be instrumental in efficiently developing the Bongo property. Additionally, Caza is beginning to receive the initial data from our proprietary seismic reprocessing in this area, which looks very promising. The Company currently has several exploration prospects under lease that should benefit from this newly gathered data as should Caza's future exploratory prospect development in Wharton County."

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Oilex IDs Hydrocarbons at Cambay Well

- Oilex IDs Hydrocarbons at Cambay Well

Wednesday, June 29, 2011
Oilex Ltd.

Oilex advised that at June 28, 2011 the Cambay-76H horizontal well was directionally drilled as planned to a depth of 2,596 meters.

• Report date: June 28, 2011
• Status Drilling: 8 ½" hole at 2,596 meters
• Past Week's Operations
  • Drilled 8 ½" hole from 1,595 to 2,596 meters including
  • Horizontal section from 2,106 to 2,596 meters
• Objective: Cambay Eocene "tight" reservoir Y Zone
• Kick off point for deviation: 1,167 meters
• Planned Total Depth (TD): Approximately 2,885 meters
• Well duration: Approximately 35 days on a trouble free basis

All depths refer to measured depth below rig rotary table ("MD")

After kicking off from the vertical hole at 1,167 meters, the well was drilled to the horizontal landing point at 2,106 meters and the horizontal section drilled to 2,596 meters.

The Y Zone reservoir was intersected on prognosis. As anticipated, the horizontal section drilled to date in the Y Zone is characterized by log-indicated porous hydrocarbon-bearing intervals with highly elevated gas readings.

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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Premier IDs O&G Shows at Indonesia's Tuna Block

- Premier IDs O&G Shows at Indonesia's Tuna Block

Monday, June 27, 2011
Premier Oil plc

Premier updated its exploration and appraisal operations in Norway, Indonesia and Pakistan.

Grosbeak, Norway (Premier 20%)

The Grosbeak well 35/12-4 S, which spudded on April 24, 2011, has completed the drilling and testing of the primary well bore and will now be sidetracked to further delineate the extent of the Jurassic oil accumulation. The sidetrack is expected to be completed by the end of July.

Gajah Laut Utara, Indonesia (Premier 65%)

In Indonesia on the Tuna block, the Gajah Laut Utara-1 exploration well has reached a total depth of 4,688 meters in pre-Tertiary basement and is being plugged and abandoned with oil and gas shows. Oil shows were reported throughout a 350 meter thick succession of interbedded sandstones and shales in the Oligocene. However, logs suggest that the majority of these Oligocene sandstones are tight. One zone was sampled and gas was recovered. The well also encountered good quality water wet reservoir rocks within the Miocene sequence and source rocks within the Oligocene. A working oil and gas petroleum system has therefore been established on the Tuna block. The Ocean General rig will now move to drill the Belut prospect. Belut Laut is located approximately 10 kilometers north-west of Gajah Laut Utara, in a separate sub-basin and is an independent test of the petroleum system on the Tuna acreage. The results of the Belut well are expected in early August.

K-27, Pakistan (Premier 15.79%)

The K-27 exploration well, which spudded on April 4, 2011 in the Kadanwari block, has been successful, testing gas with a flow rate of 51.3 MMscfd through a 56/64 inch choke. The operator (ENI) plans to tie the well to the production facility by the end of the third quarter, delivering around 30 MMscfd.

Simon Lockett, Chief Executive Officer, commented, "The Grosbeak appraisal has provided valuable information and we look forward to the results of the sidetrack confirming the size of the oil reserves in the field.

"The Gajah Laut Utara well is the first exploration well drilled by Premier in the Tuna acreage and established the presence of a working petroleum system. We look forward to the results of drilling the Belut Laut prospect.

"In Pakistan, the K-27 test results are extremely positive providing additional resources and near term production to the Kadanwari asset."

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Max Petroleum IDs Oil Pay at Kazakh Well

- Max Petroleum IDs Oil Pay at Kazakh Well

Monday, June 06, 2011
Max Petroleum plc

Max Petroleum announced an operational update of its activities in the Blocks A&E Licence area in the Republic of Kazakhstan.

Discovery in Narmundanak South

The NARS-1 exploration well on the Narmundanak South prospect in Block E has reached total depth of 1,589 metres with electric logs indicating 4 meters of net oil pay at depths from 1,280 to 1,290 meters in the Triassic Formation with porosities ranging from 18% to 25%. A fluid sample taken from a depth of 1,283 meters yielded 32 degree API oil. The Company is running production casing in the well and expects to test NARS-1 for commercial viability in the next 60-90 days upon receipt of the requisite governmental approvals.

Borkyldakty Field Placed on Trial Production

The Borkyldakty Field has been placed on production after receiving final approval of the trial production project ("TPP") from the Kazakhstan regulatory authorities. The TPP, valid through March 2013, allows the Company to produce the field and drill additional exploration and appraisal wells in order to gather additional data necessary to prepare a full field development plan. The Company has returned the BOR-1 discovery well to production and is planning to drill the BOR-3 development well in June 2011 using the IDECO rig after it has finished the NARS-1 discovery well.

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Bering IDs Prospect in Permian Basin

- Bering IDs Prospect in Permian Basin

Monday, May 16, 2011
Bering Exploration Inc.

Bering has identified its initial West Texas prospect in the Permian Basin which has potential gross reserves of 600,000 barrels of oil or $60 million based upon current prices. This prospect is approximately 640 acres and will target the Sprayberry formation at a depth of approximately 9,000 feet. Bering is currently conducting its technical assessment and once satisfactorily completed will begin leasing the mineral rights. Bering expects to initially retain a100% working interest.

This prospect was the first identified as a result of its recently announced three year exclusive exploration agreement with Glaux Oil & Gas, LLC (Glaux) for the development of numerous leads and prospects in approximately 500,000 gross acres in West Texas using a proprietary aeromagnetic survey. Once leased, Bering will use other advanced oil finding technologies such as telluric and seismic to identify well locations.

The Permian Basin is one of the largest and most active oil basins in the United States, with the entire basin accounting for approximately 19 percent of total U.S. oil production. The Permian Basin remains a significant oil-producing province and contains an estimated 30 Billion barrels of remaining mobile oil and has the biggest potential for additional oil production in the country, containing 29% of estimated future oil reserve growth. Through increased use of enhanced-recovery practices the Permian Basin can have a substantial impact on U.S. oil production.

"We are excited to have our initial prospect selected and expect to begin the leasing phase later this month," stated Steven Plumb, Chief Financial Officer of Bering. "Our exclusive relationship with Glaux is providing us with quality prospects that have been identified using very unique and exciting technologies."

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LNG Energy IDs Gas Shows at 2nd Polish Well

LNG Energy IDs Gas Shows at 2nd Polish Well

Tuesday, April 26, 2011
LNG Energy Ltd.

LNG Energy announced that the Lebork S-1 well, on the Slupsk concession in Poland, has been successfully drilled, cased and cemented to its total depth of 3,590 meters. During drilling, numerous gas shows were recorded over 285 meters of the Lower Silurian, Ordovician and Cambrian shales. The gas shows consisted of mainly methane gas. The strongest gas shows were in the Cambrian shale, although gas shows may have been suppressed in the other shallower intervals due to the full diameter coring operations.

The well was originally drilled to 3,517 meters and had 223 meters of full diameter core recovered. At that time a comprehensive suite of openhole logs were run by Schlumberger. Upon evaluation of the logs, the well was deepened to a final depth of 3,590 meters, whereupon a 2nd suite of logs were run over the additional interval drilled; including the recovery of 113 sidewall cores. The full diameter core and sidewall cores were taken for specialized gas shale core analysis that will fully evaluate the physical parameters of the rock and will be used to calibrate the openhole logs. These analysis will provide, among other data, information on porosity, permeability, total organic carbon, rock eval pyrolysis, thermal maturity, gas composition, micropaleontology, and critical mechanical properties for completion stimulation design.

The two primary shale target intervals were thicker in the Lebork S-1 well than in the previously drilled Wytowno S-1 well. The Ordovician shale interval in the Lebork S-1 well is approximately 91 meters thick, which is slightly thicker than the 83 meters found in the Wytowno S-1 well. The Cambrian shale also thickened to 15 meters from the 9 meters found in the Wytowno S-1 well. This provides further support for the hypothesis of an increasing thickness trend that may continue into deeper portions of the basin.

The comprehensive core analysis is expected to be completed by the third quarter. The analysis of the sidewall cores from the Wytowno S-1 well are also still pending. The suite of Schlumberger openhole logs that were run in the Lebork S-1 well will be recalibrated, using the core data, to more precisely calculate the potential pay sections. The log suite in the Lebork S-1 well currently calculates the highest gas and best properties in the Cambrian shale interval followed by the overlying Ordovician shale interval. The uncalibrated log suites of both wells currently indicate higher gas calculations in the Ordovician interval in the Lebork S-1 well than in the Wytowno #1 well, but this may change after core analysis and the logs are recalibrated. During the third quarter it is anticipated that the completion will be designed and the first intervals in each well will be fracture stimulated.

The cost of the well at rig release, with casing in the ground and including the additional deepening, side wall cores and second set of logs is approximately US $5.6 million. The current estimated cost of the Lebork S-1 well, before completion, but including all future core analysis work, is US $6.5 million. Despite these added costs and due to increased efficiencies, the drilling costs are expected to be only US $0.1 million above the original drilling budget. The rig will stay on location until the end of May at which time it will begin mobilizing to the Starogard concession to begin drilling operations in mid June. The Starogard concession's wellbore will be the 5th successive gas shale well drilled by the same drilling equipment contractor and crew. LNG Energy anticipates further drilling optimization and efficiencies that will be observed in both lower costs and days on location.

President Petroleum IDs Gas Shows at Northumberland Well

President Petroleum IDs Gas Shows at Northumberland Well

Monday, April 18, 2011
President Petroleum Co. plc

The Northumberland 2 exploration well has been drilled to a measured depth of 3,427 meters with the primary target reservoir, the Waarre sands extending even deeper beyond this point. The well was drilled to schedule and budget and extensive logging has now been completed, including a drill stem test over a 30 meter section.

Detailed results from the well

• While wire-line logs and the results of the drill stem test did not indicate movable hydrocarbons in commercial amounts the evidence points to considerable quantities of condensate and gas having migrated through the very thick Waarre sandstones.
• Although hydrocarbons have not been trapped at the well location because of thinner than forecast seal and a possible leak window to the next fault block, importantly the presence of a top seal to the Waarre sands being Belfast mudstone has been confirmed. No material Flaxman sands were identified in the well.
• The results of this well show evidence of hydrocarbons from core samples and logs, and the materially deeper than expected Waarre sands are very encouraging. This points to significantly greater potential for economic gas condensate and/or oil to be preserved, and in greater volumes than previously projected in many other structures within the PEL 82 licence, where fault movement is less or the seal thicker. Indeed structures in the north of the license have yet to be covered by a higher resolution 3D seismic. Prospective resources for the PEL 82 license remain similar to the previously estimated 430mmbbls of oil or 630Bcf of gas, due to the materially thicker sands.
• President have identified a number of potential hydrocarbon bearing structures and by way of example the first location to which President is applying the learnings so far obtained, albeit originally a relatively small structure, on current information has benefited from an over 50% increase in volumes of recoverable hydrocarbons.
• Accordingly as there has now been a substantial de-risking by the confirmation of charging of a potentially thick reservoir, President is now addressing the other risk as to sealing and detailed work will now be carried out to identify areas for further work both seismic and drilling.

Commenting on the announcement, Peter Levine, Chairman of President Petroleum Company Holdings BV said, "Interestingly it may be said that the value proposition of the PEL 82 license is greater now than before the drilling of the well, both in terms of increased potential and reduction of risk.

While Northumberland 2 has not made a commercial discovery, the clear identification of hydrocarbons in the system with a significantly thicker than expected reservoir sand, has given encouragement and impetus to move forward with further work on this license. Now that one of the two main questions has been de-risked, our attention is focused on identifying structures with a complete and effective seal and we move forward on this task with some optimism as much of the license has not yet been covered by high resolution seismic.

Now that the two legacy prospects have been drilled, and notwithstanding the important work now continuing on PEL 82, President clearly recognizes the priority of exponentially growing the Company and is very much focused on pursuing acquisition opportunities. President remains in a strong financial position with substantial current net cash balances, and continues to be well funded with the ongoing support of its major shareholder Levine Capital Management. Patient and careful progress is being made in various directions and further announcements will be made as soon as appropriate."

Tullow IDs Gas Finds at Tano License

Tullow IDs Gas Finds at Tano License

Wednesday, April 13, 2011
Tullow Oil plc

The Tweneboa-4 appraisal well in the Deepwater Tano license offshore Ghana has successfully encountered gas condensate in good quality sandstone reservoirs. Results of drilling, wireline logs and samples of reservoir fluids have confirmed the western extent of the Tweneboa gas condensate accumulation.

The well, located 3.9 kilometres southwest of the Tweneboa-2 appraisal well was drilled in the western flank of the accumulation to complete the appraisal of the Tweneboa gas-condensate discovery. The well encountered 18 meters of net gas condensate pay in high quality stacked reservoir sandstones which are in static pressure communication with both the Tweneboa-1 and Tweneboa-2 wells.

The Deepwater Millennium dynamically positioned drillship drilled Tweneboa-4 to a total depth of 4,007 meters in water depths of 1,436 meters. On completion of operations, the well will be suspended for future use in field appraisal and development. The rig will then move to perform drill stem tests on the Tweneboa-2 oil and gas-condensate accumulations.

Tullow (49.95%) operates the Deepwater Tano license and is partnered by Kosmos Energy Ghana (18%), Anadarko Petroleum (18%), Sabre Oil & Gas (4.05%) and the Ghana National Petroleum Corporation (GNPC) (10% carried interest).

Uganda exploration and appraisal campaign commences

Following the signing of the SPAs for the farmdown to CNOOC and Total on March 29, 2011, the exploration and appraisal program has been reactivated and two wells are expected to commence drilling in Exploration Area 1 (EA 1) within the next two weeks. The OGEC 600 rig is preparing to spud the high-impact Jobi-East prospect and the OGEC 750 rig is getting ready to drill the first Mpyo exploratory appraisal well to test its upside potential. These wells are the start of a major program of exploration and appraisal drilling, seismic acquisition, and well testing to access the significant remaining upside potential in the basin and further expand the resource base for development.

Commenting, Angus McCoss, Exploration Director, said, "Tweneboa-4 is an important milestone as it is the final well to be drilled in the Tweneboa appraisal program. The upcoming program of well testing in the Tweneboa field, along with drilling and well testing in the Enyenra field, will provide essential information on well deliverability, dynamic reservoir connectivity and hydrocarbon volumes, which will be used to optimize our development plans for these major fields. We are also delighted to be starting drilling activities again in EA 1 in Uganda and are now gearing up for a five-rig drill-out campaign in the second half of the year."