Hydrocarbons Identified at Mart's Nigeria Well

- Hydrocarbons Identified at Mart's Nigeria Well

Wednesday, July 20, 201
Mart Resources Inc.

Mart Resources and its co-venturers, Midwestern O&G (Operator of the Umusadege field in Nigeria) and Suntrust Oil provided an update on the UMU-8 well in the Umusadege field.

The UMU-8 well has reached a final total drilling depth of 8593 feet. Open hole wireline logs have been run with results indicating a total of 16 hydrocarbon bearing sands. The well logs indicate a cumulative gross pay of approximately 385 feet in the 16 sands encountered by the well.

All of the UMU-8 well's primary objectives, including the IX, XI, XIIa, XIIb, and XV sands were hydrocarbon bearing sands based on well log interpretation with results indicating gross oil pay of 32 feet, 14 feet, 39 feet, 26 feet and 11 feet respectively. 9 5/8" production casing has successfully been run and cemented.

The next phase of operations will include perforating the five sands and the installation of completion equipment consisting of a dual tubing string (3 1/2 inch and 2 7/8 inch) configuration. The 3 1/2 inch tubing will have the XV, XIIa and XIIb sands completed and the 2 7/8 inch tubing will have the XI and IX sands completed allowing for future multi-zone production. After the completion equipment is installed, testing on the five individual sands will be conducted. While the dual string will allow for completion and testing of the five sands, it is anticipated that only two sands will initially be produced at any given time.

By way of update, negotiations with the operator of the export pipeline to increase export capacity for the Umusadege field are ongoing and have not yet been finalized. Mart and its co-venturers are continuing to evaluate new pipeline and export options to provide an alternative for future production capacity.
Chairman's Comment

Wade Cherwayko, Chairman and CEO of Mart, said, "Initial interpretation of the logs for the UMU-8 well indicate the primary objective sands are hydrocarbon bearing, including the XI and XV sands that have no proved or probable reserves assigned to them. If testing of the XI and XV sands is successful, the Umusadege field reserves could be increased from previously disclosed reserve estimates."

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Petro Matad Encounters Hydrocarbons at Davsan Tolgoi Well

- Petro Matad Encounters Hydrocarbons at Davsan Tolgoi Well

Thursday, July 14, 2011
Petro Matad Ltd.

Petro Matad announced that the Davsan Tolgoi-7 well ("DT-7") has reached a total depth of 1,733m in metamorphic rocks below the Tsagaantsav Formation objectives.

DT-7 was drilled as a test of the Uppermost Tsagaantsav and the Lower Tsagaantsav reservoirs of the Davsan Tolgoi Mod Prospect, a fault and fold structural trap consisting of three subsidiary fault blocks.

The well penetrated the Uppermost Tsagaantsav at 1,149m depth, 22 meters high to prognosis. Initial petrophysical analysis has identified three zones of possible net pay totaling 4.8m in thickness and averaging 25% porosity. An additional 18.5m of water-bearing net reservoir with 19% average porosity is distributed between the three zones of moveable hydrocarbons. A similar pattern of alternating oil and water-bearing sandstone reservoirs is common in the Tolson Uul field on Block XIX to the north of Davsan Tolgoi. The three Uppermost Tsagaantsav hydrocarbon zones are being evaluated as candidates for future testing, and additional well locations are being evaluated up to 75m up-dip (higher) to DT-7, where more complete hydrocarbon saturation may be expected.

The Lower Tsagaantsav objective was penetrated between 1,208 and 1,703m depth with minor hydrocarbon saturation at 1,542m depth. 23m of reservoir quality sandstone is distributed between twelve thin zones that average 17% porosity.

Drilling, casing and cementing operations have been completed at DT-7 and the rig has been moved to the new DT-8 location as part of the Company's drilling program to evaluate its inventory of twelve independent prospects in the Davsan Tolgoi area of Block XX.

The DT-8 well is scheduled to be spud today and is located 700m northeast and 38m lower than the DT-5 well that was drilled in June, and 1.8 km south and 80m higher than the Daqing 19-62 oil well in Block XIX. The well will test a stratigraphic pinch-out of the Uvgan Gol paleovalley reservoir between the thin hydrocarbon-saturated sandstones at DT-5 and the thick oil-producing sandstones of the 19-62 well. On further analysis and comparison of data from the DT-5 and 19-62 wells, a secondary stratigraphic trap objective in Lower Zuunbayan sandstones has been identified and the location of DT-8 is well situated to test this objective. Lower Zuunbayan sandstones are the primary reservoirs in the North Tolson Uul field of Block XIX and if productive at DT-8, they will confirm a new play for the Davsan Tolgoi area.

The Company also wishes to give an update on the progress of the planned well-testing program for Davsan Tolgoi. As of today, 135 truckloads of equipment accompanying the workover rig are waiting at the Chinese side of the border post, 150kms south of Petro Matad's Block XX operations. Mongolian national holidays are in progress, and the border point is due to re-open today. Whilst there is a large back-up of cross-border traffic awaiting that re-opening, Petro Matad and its contractor DQE International are confident that mobilization will continue shortly.

The Company is also well advanced in all other aspects of the extensive testing program. Matters such as explosives for well perforation, permits, extended test equipment and international specialists are all either in place or planned.

In other matters pertaining to Davsan Tolgoi, the Company's geo-scientists are currently completely re-mapping the Davsan Tolgoi 3D survey, using a newly processed set of data that adds new definition and clarity to the model. Additionally, data from the drill holes is being added and used in the assessment as it becomes available. This large undertaking is scheduled to be completed by the end of August.

In the immediate vicinity of Davsan Tolgoi, the recently completed 2D seismic lines have been processed, and are currently being incorporated into the previous 2,700kms of survey, ready to be re-mapped. This is expected to add much greater clarity to the areas adjacent to Davsan Tolgoi, both to the east and the west, and enable the generation of new volumetrics, as well as possibly defining drill targets.

Additionally, the Company advises that the 2D seismic surveys over the three sub-basins in the south of Block XX have now been completed and processed. Early processing results indicate similar depths of basins as those in the northernmost parts of Block XX, near Davsan Tolgoi. Interpretation and collation of the entire 1,300kms of new 2D is proceeding.

Petro Matad CEO, Doug McGay stated, "Once again, it is pleasing to note that we have encountered hydrocarbons in our Davsan Tolgoi drilling program and to have the reservoir formations' prognosis confirmed.

"We are methodically working our way through our portfolio of targets in the Davsan Tolgoi area, having so far encountered hydrocarbons in all but one of the seven wells drilled to date. Our management and exploration team note the less-than-resounding results in DT-5 and DT-7 and the dry hole at DT-6, and conclude that is a statistically anticipated outcome of the type of exploration drilling program needed on such a structure as Davsan Tolgoi. Each of the wells has already given us important information that is being used to refine our geologic model, and hence our drill site selection. This should serve us well not only for the continued drilling of our prospect inventory, but also for the ongoing exploration of the remainder of Block XX.

"Progress is being made with the other aspects of the exploration of Block XX, particularly the complex well-testing program. The re-mapping of the newly re-processed 3D survey will also be an important milestone. The area outside of Davsan Tolgoi is also being methodically explored, and we are looking forward to refining our portfolio of leads and prospects in the immediate vicinity, as well as furthering the more grass-roots exploration of other sub-basins."

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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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Dejour Discovers Hydrocarbons at Co. Well

- Dejour Discovers Hydrocarbons at Co. Well

Tuesday, June 21, 2011
Dejour Enterprises Ltd.

Dejour has drilled and set casing on an initial vertical well to test the Mancos/Niobrara potential on its South Rangely leasehold in Rio Blanco County, Colorado.

The test well was drilled to a depth of 3863' and encountered approximately 90 feet of hydrocarbon bearing siltstone in the Lower Mancos "C" sands. After a thorough review of the well data the well will be completed, fractured and flow tested to determine the commercial potential of the Lower Mancos "C" Sand in this area. Definitive results of this test well will be forthcoming in Q3 2011.

Dejour has a 30% WI in the test well and an average 56% WI in the surrounding 8000 acres.

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Petrobras Discovers Hydrocarbons in Espirito Santo Basin

- Petrobras Discovers Hydrocarbons in Espirito Santo Basin

Friday, June 10, 2011
Petrobras

Petrobras announced the discovery of a hydrocarbons accumulation in the Cretaceous reservoirs of Espírito Santo Basin.

The discovery resulted from the drilling of well 1-BRSA-926D-ESS (1-ESS-205D), informally know as Brigadeiro, at a water depth of 1,900 meters, located in the BM-ES-23 Concession area, block ES-M-525, 115 km off the coast of the State of Espírito Santo.

The discovery was confirmed through wireline logging and fluid sampling, in the reservoirs located at a depth of approximately 4,200 meters, with vertical porous thickness of approximately 125 meters.

Petrobras is the operator of the consortium for exploration of block BM-ES-23 (65%), which is also composed of Shell Brasil Petróleo Ltda (20%) and Inpex Petróleo Santos Ltda (15%).

The consortium will give continuity to the activities in the concession area, where two other wells are being drilled, referring to the Minimum Exploratory Program. After the conclusion of this Program, the consortium will forward an Evaluation Plan proposal to the ANP designed to delimit the discovered accumulation.

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Tower Resources Spies Hydrocarbons in Namibia

- Tower Resources Spies Hydrocarbons in Namibia

Wednesday, May 18, 2011
Tower Resources plc

Tower announced its final results for the 12 months ended December 31, 2010.
Highlights:

• Namibia
  • Independent Competent Persons Report (CPR) in mid-2010 confirmed huge potential based on 2-D seismic
  • 3-D seismic survey interpretation has been completed since the year end and confirmed clear structural closure, sustained reservoir thickness and direct hydrocarbon indicators at the main Maastrichtian prospect level
  • A recently identified Albian age reservoir may be significant.
  • 3-D AVO interpretation fine tuning still in process but near completion
  • CPR update incorporating full 3-D interpretation underway and due for completion by end-June 2011
  • Financial and operational planning activities in progress with a view to drilling early in 2012
• Uganda
  • Prospectivity of EA5 has been enhanced by the results of an aero gravity gradiometry survey
  • A probable oil generation kitchen has been identified
  • A large high structural area has also been identified where reservoir quality may be productive
  • A seismic survey is ready to begin so that a well can be drilled before the end of 2011

Commenting on the results, Peter Kingston, Executive Chairman of Tower said, "The 3-D seismic data acquired in Namibia has confirmed the exciting potential in the Delta Maastrichtian reservoir with very strong hydrocarbon indications being seen. A second potentially significant reservoir has been identified in a formation of Albian age and the secondary leads have been confirmed to be present. A well early in 2012 will finally test one of the world-class, multi-billion barrel resource potential prospects in the Company's Namibian License. While Namibia can transform Tower as a company, I am pleased that Uganda may still deliver substantial shareholder value from a well in the second half of this year. The next year promises to be one of the most exciting of my professional career."

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Ecopetrol Hits Hydrocarbons in Huila Province

Ecopetrol Hits Hydrocarbons in Huila Province

Monday, April 25, 2011
Ecopetrol S.A.

Ecopetrol has found the presence of hydrocarbons in the Nunda-1 well, located in the municipality of Tello in Huila province.

The well is part of the Cuisinde Exploration and Exploitation Agreement of 2006 between Ecopetrol and the National Hydrocarbons Agency, ANH in which the company holds a 100% stake.

Drilling at the well began on January 27, 2011, reaching a total depth of 7,371 feet three weeks later, the equivalent of 2.25 kilometers from the surface.

Preliminary testing on the Honda formation showed a flow volume of 318 barrels, with a 71% water cut, yielding an average of 92 barrels of oil per day. The quality of the crude is 30 degrees API.

Ecopetrol will begin appraising the find in the weeks ahead, with extensive tests planned in order to determine the production potential of the Honda formation and the volume of recoverable hydrocarbons.

The discovery opens up a new era for Ecopetrol by branching out to new types of exploration activities involving stratigraphic traps (those in which hydrocarbons accumulate due to variations in the deposit environment) in the Valle Superior del Magdalena and helps increase reserve inventories in this area of the country.

Bowleven Hits Hydrocarbons Offshore Cameroon

Bowleven Hits Hydrocarbons Offshore Cameroon

Wednesday, April 20, 2011
BowLeven plc

Bowleven announced that the Sapele-1ST well drilling in the Douala Basin, offshore Cameroon has encountered a total of 23 meters of net hydrocarbon-bearing pay in the Omicron objectives based on the results of drilling, conventional wireline logs, samples of reservoir fluid and pressure data. A testing program is expected to commence shortly.

Highlights

• 23 meters of log evaluated net hydrocarbon pay encountered in the Omicron objectives at Sapele-1ST.
• Preparing for testing program at Sapele-1ST.
• Sapele-2 well progressing on schedule.

Sapele-1ST drilling update

The principal objective of Sapele-1ST was to appraise the Deep Omicron oil discovery encountered in the Sapele-1 exploration well. The well was also designed to intersect both the Upper and Lower Omicron objectives.

The well was drilled to a TVD of 3,634 meters (4,483 meters measured depth) in water depths of around 25 meters approximately 2 kilometers South East from the Deep Omicron oil discovery in the original vertical well.

Bowleven, as operator, provides updates for the reservoir sections encountered at Sapele-1ST below:

Upper Omicron

1.4 meters of net pay were intersected overlying approximately 24 meters of high quality reservoir which following sampling was confirmed as water bearing.

Lower Omicron

The well has intersected a log evaluated hydrocarbon interval that is interpreted to comprise fair quality thinly interbedded reservoir units. Provisional net pay is estimated to be approximately 11 meters, based on conventional wireline logs, with an average porosity of 17%. Fluid samples acquired during logging activities indicate the presence of light oil/gas condensate as reservoir fluid.

Deep Omicron

The well has intersected a log evaluated hydrocarbon interval that is interpreted to comprise high quality thinly interbedded reservoir units. Although less well developed at this location and with a corresponding lower net to gross ratio than the Sapele-1 motherbore, the provisional net pay is conservatively estimated to be approximately 10 meters, based on conventional wireline logs, with an average porosity of 19%. In addition, initial interpretation indicates that certain pay intervals identified in the original Sapele-1 well have been eroded at the Sapele-1ST location. It was not possible to recover, it is believed due to borehole conditions, reservoir fluid samples and pressure data from Deep Omicron. Consequently, pressure communication could not be confirmed from logging activities. The GC tracer however indicates the presence of a light high GOR oil.

Forward plan

Further detailed analysis, including test data, is now required to assess the implications of the Sapele-1ST well on current resource estimates. The impending Sapele-2 appraisal well results will also be integral to this process. The Company is now preparing to conduct a drill stem testing program at Sapele-1ST. Following testing the intention is to release the Noble Tommy Craighead rig for a mandatory recertification process.

Due to the stratigraphic nature of the Omicron discoveries further appraisal will be required and is already underway and planned. The Sapele-2 well, intended to appraise both the Lower and Deep Omicron discoveries, is currently drilling with the Vantage Sapphire Driller rig and is expected to take a further 15 to 20 days (excluding testing). The rig is available for up to three well slots after Sapele-2 with the location selection process factoring in both ongoing technical evaluation and well results.

Kevin Hart, Chief Executive of Bowleven plc, commented, "We are pleased with the results so far on Sapele-1ST (sidetrack). The initial log evaluation is encouraging as it endorses the presence of light oil and gas condensate in the Lower and Deep Omicron fairways encountered with the original Sapele-1 well. Preparations are now underway for a testing program at Sapele-1ST to assess connectivity and deliverability. Given their stratigraphic nature, further evaluation, including appraisal drilling, is required to fully understand sand distribution within these tertiary fairways however results to date are promising in the context of Sapele and the Douala Basin as a whole."

OGX Hits Oil Pay in Campos Basin

OGX Hits Oil Pay in Campos Basin

Thursday, April 14, 2011
OGX S.A.

OGX has identified the presence of hydrocarbons in the Albian section of well 1-OGX-33-RJS, which is located in the BM-C-41 block, in the shallow waters of the Campos Basin. OGX holds a 100% working interest in this block.

An oil column of approximately 95 meters with approximately 42 meters of net pay has been identified in the carbonate reservoirs of the Albian section. The drilling of well OGX-33, also known as the Chimborazo prospect, was concluded at a final depth of 3,755 meters.

The OGX-33 well is situated 84 kilometers off the coast of Rio de Janeiro at a water depth of about 127 meters. The rig, Pride Venezuela, left the well on April 9, 2011. Drilling of the third extension well (OGX-42) of the Pipeline accumulation has been initiated.

Bering to Drill Eagle Ford Wells

Bering to Drill Eagle Ford Wells

Monday, April 11, 2011
Bering Exploration Inc.

Bering will initially drill four test wells on its Eagle Ford shale play in Central Texas. The results from these initial wells will help with the design and development of a more in depth drilling program for the remaining 116 potential wells locations. These initial four wells will target the Eagle Ford, Austin Chalk, Buda and Edwards zones and based upon current prices have gross potential reserves of $11,000,000. Bering will retain a 100% working interest and an 80% net revenue interest with a two year lease term.

The Eagle Ford Shale is a shale rock formation located in multiple counties in South Texas. It underlies the Austin Chalk and is considered by geologists to be the "source rock," or the original source of hydrocarbons (oil and gas) that are now found in the Austin Chalk. Industry leaders have been quoted as saying that it has the "perfect mineralogical makeup for shale play" and one of the world's largest oil & gas companies has already called it the sixth largest domestic oil discovery in the U.S. history.

"We are very excited to begin this initial drilling program," stated Steven Plumb, Chief Financial Officer of Bering. "We expect to obtain the drilling permits in the near term and hope to be drilling soon after that. If these first four wells are successful then we expect this prospect to add significant value to our company and shareholders."

Eni Inks MoU for Ukraine Upstream Cooperation

Eni Inks MoU for Ukraine Upstream Cooperation

Monday, March 28, 2011
Eni S.p.A

The Minister of Ecology and Natural Resources Mykola Zlochevskiy of Ukraine and Eni CEO Paolo Scaroni signed in Kiev a Memorandum of Understanding defining the framework for possible cooperation initiatives in exploration and production of hydrocarbons in Ukraine.

The parties agreed to collaborate on the study of initiatives in conventional and unconventional oil and gas on the basis of a mutual sharing of data, competencies and technology. They also arranged to set up a joint working team that will begin the evaluation of such opportunities.

During his visit to Kiev, Eni CEO Paolo Scaroni also had the opportunity to meet with the Minister of Energy and Coal Industry Yuriy Boyko to discuss possible cooperation in Ukrainian upstream sector.

Sterling to Drill Ahead at Sangaw North Block

Sterling to Drill Ahead at Sangaw North Block

Friday, March 25, 2011

Sterling Energy plc

 

Sterling provideed the following update for the Sterling operated Sangaw North block in Kurdistan (53.33% working interest).

Sangaw North #1 Well

The side-tracked wellbore of Sangaw North #1 well has been drilled to a depth of 3,360 metres, into the top of the Jurassic formations and at a depth above where the influx of gas was recorded in the previous wellbore.

A liner has been run and cemented across the open hole interval with the liner shoe at approximately 3,340 meters.

The Company now plans to drill ahead and evaluate the Jurassic formations to a well depth of 3,660 meters and estimates this will take approximately one month. During this section, the well is expected to encounter the formations from which gas containing hydrocarbons and hydrogen sulphide entered the well in the previous wellbore. Operations are being conducted using drill pipe resistant to the effects of hydrogen sulphide.

The joint venture partners in the Sangaw North Production Sharing Contract ("PSC") may elect, in the event of encouraging results, to drill further to evaluate deeper Jurassic and Triassic formations.

Petrophysical logs have been acquired across open-hole Cretaceous intervals below 2,400 meters, the base of the intervals logged and flow tested in the previous wellbore. Preliminary evaluation of the logs acquired in the current wellbore, together with hydrocarbon shows and other information acquired while drilling, indicate the presence of hydrocarbons within these deeper Cretaceous intervals. A detailed analysis of all the data acquired is being undertaken to identify whether flow testing of certain intervals may be warranted. Flow testing of Cretaceous intervals, if undertaken, will follow any flow testing that may be undertaken in the Jurassic and Triassic intervals after they have been drilled.

Extension of Exploration Period

Sterling has received confirmation from the Ministry of Natural Resources of the Kurdistan Regional Government that the first sub-period of the exploration phase of the PSC has been extended by one year to allow for the completion of drilling operations in the Sangaw North #1 well and the evaluation of the results of this well. The first sub-period, including the one year extension, will now continue until November 2011.

Angus MacAskill, Sterling's Chief Executive said, "Operations since the gas influx and parted drill pipe in the previous wellbore have been challenging, and we are very pleased to have successfully re-drilled and cased the well to this important point in the upper Jurassic section. From here, we look forward to exploring the potential of the deeper horizons."