WellDog, Excel Ink MOU to Introduce Natural Gas Services in China

- WellDog, Excel Ink MOU to Introduce Natural Gas Services in China

Wednesday, July 27, 2011
Gas Sensing Technology Corp.

WellDog and Excel Team Holdings have signed a Memorandum of Understanding under which Excel will introduce WellDog's suite of technical services to the fast-growing coalbed methane (CBM) and shale gas markets in China.

"This is an exciting moment for both companies as China is gearing up unconventional gas (CBM) activities in its 12th 5 year plan," said Peter Ho, Chairman and CTO of Excel. "Our group will be acting as a main technology bridge between top notch North America CBM technology groups such as WellDog and companies that are engaged in exploiting China's vast unconventional gas resources. WellDog's alliance with us will provide the crucial technical service support for the complex coal environment in China. We look forward to WellDog's service expansion into China soon!"

The MOU covers all of WellDog's business lines, including its award-winning pre-production gas testing services, its established pressure monitoring sales and installation services, its new permeability testing services, and its reservoir engineering services, as well as its business line based around a sustainably-focused downhole water/gas separation and re-injection technology.

"We've been examining the China market landscape for two years, and Excel is exactly the market entry channel that we've been seeking," said John M. Pope, Ph.D., president and CEO of WellDog. "Rational investigation indicates that China will become the leading unconventional gas market soon -- both as a consumer and as a producer that needs best-in-class services. We're pleased to now be able to help China unconventional gas producers make more gas with less environmental impact, as we have in many other markets."

Excel recently announced that it has opened up a new Unconventional Gas Research Centre in Harbin, via its subsidiary Multi Century Energy Technology (Beijing), to provide equipment and expertise to Coal Field Geology Bureau of Heilongjiang Province. The Research Centre will provide a leading platform for foreign CBM technology providers such as WellDog to showcase and demonstrate unique CBM expertise and penetrate into China's growing upstream CBM market.

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Gazprom Neft, GEPetrol Ink Cooperation Agreement

- Gazprom Neft, GEPetrol Ink Cooperation Agreement

Tuesday, June 07, 2011
Gazprom Neft

Alexander Dyukov, Chairman of the Management Board of Gazprom Neft, and Candido Nsue Okomo, Director General of GEPetrol, the national oil company of Equatorial Guinea, signed a cooperation agreement in the Kremlin. The signing of the agreement was witnessed by Russian President Dmitry Medvedev and the President of Equatorial Guinea, Teodoro Obiang Nguema Mbasogo.

The document regulates key areas of cooperation between Gazprom Neft and GEPetrol within the framework of implementing Product Sharing Agreements (PSAs) signed in 2010 for geological prospecting of blocks T and U on the Equatorial Guinea shelf. In particular, the agreement sets out the fundamental principles for managing the project and the procedures for making key decisions.

The registration of Gazprom Neft Equatorial in Equatorial Guinea is currently being finalized and, once created, the company will represent Gazprom Neft in the project for geological prospecting of blocks T and U. Analysis of the results of seismological exploration conducted in February 2011 is scheduled to be completed by the end of 2011/start of 2012.

"Projects in Equatorial Guinea enable Gazprom Neft to simultaneously achieve several objectives: creating a production center in West Africa, gaining new experience of managing international projects and broadening our shelf expertise," commented Alexander Dyukov, Chairman of the Management Board of Gazprom Neft.

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Eni, PetroSA Ink Cooperation MOU for S. Africa, Abroad

- Eni, PetroSA Ink Cooperation MOU for S. Africa, Abroad

Monday, June 06, 2011
Eni S.p.A.

Eni signed with South Africa's State-owned oil company PetroSA (Petroleum Oil and Gas Corporation of South Africa) a Memorandum of Understanding establishing mutual cooperation between the companies in the country and abroad.

The parties will evaluate the eventual acquisition by either party of participating interests in upstream projects for the development of both conventional and unconventional hydrocarbons. Moreover, the parties will evaluate the opportunity to participate jointly in projects in other African countries.

According to the MoU, Eni could also supply crude oil and refined products to the South African market, which is characterized by a fast-growing demand for such products.

Eni and PetroSA will also evaluate the possibility of leasing the Saldanha storage facility strategically located for the Asian, American and European markets.

Finally, the parties will also study joint initiatives for LNG import and will evaluate the potential for long-term LNG supplies to be provided by Eni to PetroSA for both power generation and GTL in South Africa, together with the possibility for Eni to support the realization of possible new power plants.

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