New City Energy Share Discussion Threads

[energiser01] 23/2/2012 16:11

Some good moves so far today.

Coastal +6.1% presently (uk)
Pacific Rubiales +4.5% presently (Can)

FAR +21% overnight in AUS - Senegal licences attracting attention/bid ???

dyor etc..

[energiser01] 23/2/2012 09:55

Pacific Rubiales Update.

Full release @

Pacific Rubiales announces 2011 year-end reserves growth of 52%
TORONTO, Feb. 23, 2012 /PRNewswire/ - Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC; BOVESPA: PREB) announced today the results of an independent evaluation of the Company's reserves in reports dated February 23, 2012 and effective December 31, 2011, which show that the Company's net 2P reserves grew by approximately 52% when compared to December 31, 2010.

José Francisco Arata, President of the Company commented: "We look at these reserves reports for 2011 as a clear demonstration of the robustness of our exploration and development portfolio, and the Company's business strategy. The 52% reserve growth is very strong, driven by the 83% exploration success rate. The Company continues to grow its reserves along with production, and the addition of reserves in new areas clearly shows that the Company is diversifying its reserve base beyond the Rubiales field."

Highlights on net after royalty ("net") reserves from the independent reserve evaluation reports include:

Total net Proved plus Probable ("2P") reserves grew by 52% to 407 MMboe. Approximately 78% of 2P reserves are Proved reserves ("1P").
547% Reserve Replacement with net 2P reserves additions of 5.5 boe per boe produced.
Total net 1P reserves grew by 34% to 318 MMboe. Approximately 80% of proved reserves are liquids with the majority of these being heavy oil.
Successful diversification of reserves base with Rubiales field representing 29% of total net 2P reserves (down from 51% a year ago), and Quifa at 36% of total net 2P reserves (up from 17% a year ago).
Reserve Life Index ("RLI") increased to 13.0 from a 2010 year-end RLI of 11.5.
First 2P (Probable) net reserve bookings of 44 MMboe on the CPE-6 E&P block.

dyor etc..

[energiser01] 23/2/2012 09:44

Coastal Update - Further good news plus from 2nd larget holding.

Full Release @

Coastal Energy Announces Offshore Operations Update and Onshore Discovery
HOUSTON, Feb. 22, 2012 (GLOBE NEWSWIRE) -- Coastal Energy Company (the "Company" or "Coastal Energy") (TSX:CEN) (AIM:CEO), an independent exploration and production company with assets in Thailand, announces an update of its offshore operations and the successful discovery and production testing results from the sidetrack of the Dong Mun 3 onshore gas well and acquisition of increased working interest there.

Offshore

Coastal Energy has drilled two additional producing wells and one water injection well at Bua Ban North. One of the producing wells was drilled horizontally, has been tied in and is currently producing. The Company has two more wells to bring online at Bua Ban North. Current offshore production is averaging 26,000 bopd, bringing total company production to 28,000 boepd. The rig is now being mobilized to Bua Ban South and is expected to spud the first well there by the end of February.

Onshore

The sidetrack of the Dong Mun 3 well, located on Block L27/43 onshore Thailand, reached a total depth of 2,539 meters TVDSS on the sidetrack of the Dong Mun 3 well. The well encountered a vertical gas column of approximately 113 meters with porosity of up to 6 percent. The well was flow tested for 24 hours and produced at an average rate of 15 mmcfd with flowing pressure of 1,950 psi through a 32/64" choke. Further testing, appraisal and commercialization options for the Dong Mun are being reviewed by the partners. APICO is a joint venture and the operator of the L27/43 concession. Coastal currently owns 36.1% of APICO, making it the largest stakeholder in the joint venture.

Coastal has entered into an agreement to acquire an additional 2.9% stake in APICO, which is currently held by a minority partner, for US$9.25 million in cash, bringing Coastal's interest in APICO to 39%. This transaction is expected to close on or about February 23, 2012. APICO also holds a 35% interest in the nearby Sinphuhorm Gas Field, thus increasing Coastal's net interest in the field to 13.65%.

Randy Bartley, President and CEO of Coastal Energy, commented:

"Our offshore operations continue to progress as planned. The recent wells at Bua Ban North showed results consistent with our prognoses. Most importantly, the horizontal well at Bua Ban North B is performing similarly to the horizontal well which was drilled at Bua Ban North A in 2011. This further confirms our thesis that horizontal wells will be a significant tool in the development of this field.

"The test results of the Dong Mun 3 sidetrack are extremely encouraging. Testing is ongoing to determine the maximum deliverability of the well and evaluate additional stimulation, which could lead to a significant increase in flow rates. The location of this sidetrack was determined using recently acquired 3D seismic. The drilling results combined with the new 3D seismic strongly indicate that this gas structure has an areal extent of over 5,000 acres, giving this resource tremendous potential. Now that the commercial viability of the field has been determined, we have begun the process of applying for a production license.

"We are also pleased with our acquisition of a further stake in APICO. This transaction is accretive to our 1P and 2P NAVs using only Sinphuhorm valuations. The discovery being announced today makes it an even more exciting transaction for us."

dyor eyc..

[energiser01] 22/2/2012 14:30

Update Mira Resources (1.6% of NAV in Sep 2011)

Mira Engages FirstEnergy Capital Corp. as Exclusive Financial Advisor
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2012) - Mira Resources Corp. (TSX VENTURE:MRP) ("Mira" or the "Corporation") is pleased to announce that, in response to an unsolicited expression of interest in Mira, its Board of Directors has initiated a process to identify, examine and consider a range of strategic alternatives available to Mira, with a view to maximizing shareholder value. This process could result in a sale of the Corporation.

The Corporation has engaged FirstEnergy Capital Corp. ("FirstEnergy") as its exclusive financial advisor to assist in this strategic review process.

In addition, Mira's Board of Directors has established a special committee with a mandate, in consultation with FirstEnergy, to solicit, review and consider strategic alternatives and to make recommendations to the Board as to whether any proposed transactions are in the best interests of the Corporation and its shareholders.

Mira's President, Thomas Cavanagh, commented, "We are very excited to be working with FirstEnergy during this exciting time. Additionally, based on the success of the recompletion of TSB#1, we are looking forward to receiving our updated reserve report."

dyor etc...

[energiser01] 22/2/2012 12:10

general - some of NCE others also seen as targets.....

"DJ MARKET TALK: Oil Majors Seen Buying Cheap Producers - Westhouse

1049 GMT [Dow Jones] On the back of recent oil company acquisition news, Westhouse Securities expects more cash-rich oil majors to take advantage of current low valuations to buy, as "it is clearly cheaper to buy reserves through the stock market than to explore." It notes the recent Royal Dutch Shell (RDSA.LN) bid for Cove Energy (COV.LN) and a possible offer from Dragon Oil (DRS.DB) for BowLeven (BLVN.LN).

Westhouse notes that in the current industry environment, large companies will primarily be looking for bid targets trading at a substantial discount to NPV.
The brokerage sees companies such as Coastal Energy Co. (CEO.LN) Soco International (SIA.LN) as possible targets for their operations in Southeast Asia;
Antrim Energy Inc. (AEN.T), Ithaca Energy Inc. (IAE.T) and Nautical Petroleum (NPE.LN) as possible targets for operations in the U.K. North Sea;
Petroceltic International (EG5.DB) and Gulf Keystone Petroleum (GKP.LN) as possible targets for operations in Africa and the Middle East;"


dyor etc...

[energiser01] 22/2/2012 08:48

Cove Update -

PROPOSED CASH OFFER

by

Shell Exploration and Production (XL) B.V. ("Shell Bidco")

(a wholly-owned subsidiary of Royal Dutch Shell plc ("Shell"))

for

Cove Energy plc ("Cove")

1. Highlights

· Proposed Offer of 195 pence in cash for each Cove share.*

· The Proposed Offer values the entire issued and to be issued share capital of Cove at approximately £992.4 million and would represent a premium of:

· 73.3 per cent. to the closing price of 112.5 pence per Cove share as of 4 January 2012, the last business day prior to Cove's announcement of the sale process for the company; and

· 28.5 per cent. to the average closing price of 151.75 pence per Cove share over the five business days ending on 21 February 2012, the last business day prior to the date of this announcement.

· The making of an announcement of a firm intention to make the Proposed Offer by Shell Bidco (the "Firm Intention Announcement") is subject to, and conditional upon, the receipt of written consent of the Republic of Mozambique's Minister of Mineral Resources (or through one or more delegated representatives) as required under Article 24.1 of the Exploration and Production Concession Contract relating to Cove's 8.5 per cent participating interest in the Mozambique Rovuma Offshore Area 1 Block (the "Rovuma Area 1 Interest"), such consent to be in a form satisfactory to Shell Bidco (the "Mozambique Consent").

· The Board of Cove believes that the level and nature of the Proposed Offer are such that it is in its shareholders' interests to progress matters with Shell Bidco to the point where such an offer can be made. Accordingly, the Board of Cove would expect to recommend the Proposed Offer of 195 pence in cash per Cove share, if made. It has been agreed that, if the Board of Cove does so recommend the Proposed Offer of 195 pence in cash per Cove share, each director of Cove will provide a hard irrevocable undertaking to accept the offer in respect of his own entire beneficial holdings of Cove shares and those of his family members and related trusts.

· Notwithstanding this announcement, the formal sale process, including the dispensations granted by the Panel on Takeovers and Mergers in connection therewith (as detailed in the announcement by Cove on 5 January 2012), shall continue.

* Pursuant to Rule 2.5(a) of the Takeover Code, Shell Bidco reserves the right to reduce the level of the consideration to be paid with the recommendation of the Board of Cove.

dyor etc..

[energiser01] 21/2/2012 09:14

Cove Update - Should increase any takeout price....

21 February 2012

Cove Energy plc

Continued drilling success
Offshore mozambique


Cove Energy plc ("the Company" or "Cove", AIM:COV), the AIM quoted upstream oil and gas company, together with the operator Anadarko Petroleum Corporation ("Anadarko"), is delighted to provide an update of the results of the Lagosta-3 appraisal well located about 2 miles (3 kilometers) west of the Lagosta-1 discovery well and 9 miles (15 kilometers) south of the Camarão-1 well in the Rovuma Basin Area 1 block, Offshore Mozambique ("Area 1 Rovuma Offshore").



Highlights:



· 577 net feet (176 meters) of Natural Gas Pay encountered



· Extension of Gas accumulation

Lagosta 3, the eighth successful well to drill in the world class Windjammer, Lagosta, Barquentine and Camarão ("WLBC") gas complex, found high quality gas sands not well imaged by seismic data thus confirming the gas accumulation to the western limits of the WLBC gas complex, into what was an unknown area



· Reservoir Communication

Pressure readings confirm important reservoir continuity of Lagosta 3 to Lagosta 1 and 2 and to the Windjammer/Camarao wells further north.



John Craven CEO of Cove Energy commented;

"We are very pleased to announce this further successful appraisal of the Lagosta discovery, which not only delivers another significant section of gas pay but also considerably extends the western area of the gas field, adding further confirmation to the 15 to 30-plus TCF recoverable gas resource estimate for the WLBC complex.



"With the second rig now on contract, we are proceeding to drill-stem test the Barquentine-2 well and preparing to drill the Barquentine-4 appraisal well. I am also pleased to see that ENI announced last week, the successful flow testing of their Mamba North well located approximately 4 kilometers from Area 1 Rovuma Offshore, adjacent to our Barquentine discovery.



"The project continues to provide significant upside potential as we continue towards final investment decision in 2013."



- Ends -

dyor etc..

[energiser01] 20/2/2012 17:44

Some of the smaller holdings (as noted in sep 2011) in the spotlight at present.

SP changes since 3rd jan 2012 to today

Rockhopper 272p to 381p (+40%)
Gulf Keystone Pet 190p to 432p (+127%)
Cove Energy 114p to 156p (+36%)

Strong recovery/performances over the last 7 weeks.

dyor etc...

[energiser01] 17/2/2012 13:39

Subs still someway out of the money at present, if share price can get back to north of 60-62p, I'd expect to start seeing some movement again with the subs.

Update Crescent Point Update -

Full rlease @

Crescent Point Announces Strategic Bakken Waterflood Consolidation Acquisition, a $525 Million Bought Deal Financing and Upwardly Revised 2012 Guidance

Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) is pleased to announce that it has entered into an agreement (the "Bakken Acquisition") with PetroBakken Energy Ltd. ("PetroBakken"), a publicly traded oil and gas producer, to acquire certain assets in the proposed waterflood area of the Viewfield Bakken light oil resource play in southeast Saskatchewan (the "Bakken Waterflood Assets") for cash consideration of $427 million. The assets are primarily in the Company's proposed waterflood units and include more than 2,900 boe/d of production and more than 25 net sections of land in the Viewfield Bakken resource play. The Bakken Acquisition is expected to help accelerate Crescent Point's waterflood program in the Viewfield Bakken resource play.

The Company also announces that it has closed an agreement to acquire producing assets (the "Manitoba Asset Acquisition") in southwest Manitoba (the "Manitoba Light Oil Assets") for cash consideration of $130 million. The Manitoba Light Oil Assets produce approximately 940 boe/d of high-quality, high-netback, low-decline light oil production with a reserve life index of 16.3 years and are in close proximity to Crescent Point's existing Manitoba operations. Crescent Point believes this property has significant upside potential through infill drilling and waterflood optimization.

Assuming the successful completion of the Bakken Acquisition, and including the Manitoba Light Oil Assets, Crescent Point's average daily production in 2012 is expected to increase to 86,000 boe/d from 83,500 boe/d and its 2012 exit production rate is expected to increase to more than 93,000 boe/d from 90,000 boe/d.

In addition, the Company announces that it has entered into an agreement, on a bought deal basis, with a syndicate of underwriters co-led by BMO Capital Markets, CIBC and Scotia Capital Inc., and including RBC Capital Markets, TD Securities Inc., FirstEnergy Capital Corp., National Bank Financial Inc., GMP Securities L.P., Macquarie Capital Markets Canada Ltd. and Peters & Co. Limited for an offering of 11,610,000 Crescent Point shares at $45.25 per share to raise gross proceeds of approximately $525 million. Closing is expected to occur on or about March 8, 2012, and is subject to customary regulatory approvals. Crescent Point has also granted the underwriters an over-allotment option to purchase, on the same terms, up to an additional 1,741,500 Crescent Point shares. This option is exercisable, in whole or in part, by the underwriters at any time up to 30 days after closing. The maximum gross proceeds raised under this offering will be approximately $604 million, should this option be exercised in full. Closing of the financing is not subject to the successful completion of the Bakken Acquisition.

dyor etc..

[marab] 16/2/2012 16:07

andrbea - not a lot of buyers/sellers. I managed some a few days ago but the real offer price moved up right afterwards by about a penny. Looks pretty good now for the subs with so many of the investments starting to move.

[andrbea] 16/2/2012 16:02

why are sub-shares not going up too (ncea)?

[energiser01] 15/2/2012 13:25

Update - Pacific Rubiales. Est this represents 2.5 to 3% of current trust NAV.

SP Lowest was around mid Dec at cand $18.5, now back to around $26. Market not open in Canada, so no reation yet to the discovery below. Also note failure of one well in last para below.

Pacific Rubiales announces natural gas and condensate discovery on the Guama Exploration Block, Colombia
TORONTO, Feb. 15, 2012 /PRNewswire/ - Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC; BOVESPA: PREB) announced today the discovery of natural gas and condensate in the Cotorra-1X exploration well, drilled on the Guama Block in the Lower Magdalena basin. The Company has 100% working interest in the block and is the operator.

Ronald Pantin, Chief Executive Officer of the Company commented: "this is an important exploration discovery for Pacific Rubiales and demonstrates the potential of both the Guama block and Lower Magdalena basin where the Company has a large exploration acreage position and is looking to increase its gas reserves to support its initiative to develop an LNG export market in the future".

The Cotorra-1X well was drilled as an exploratory well after an earlier exploration success on the block, the Pedernalito-1X well drilled in 2010. The well targeted Porquero Medio sands and silts of Miocene age, a low-permeability play successfully tested by Pedernalito-1X. Cotorra-1X was drilled to a total depth of 7210 feet in mid-January. The petrophysical evaluation showed a total of 40 feet of net pay, with average 20% porosity.

The well was perforated only in the deeper pay zone, across two intervals; leaving overlying pay zones untested for further evaluation.

After clean-up while flowing through a 1/2" choke, Cotorra-1X reached a maximum gas flow rate of 7.5 MMcf/d and 370 bbl/d 56°API condensate, followed by a three-stage isochronal and one extended flow test through 12/64" choke which flowed at 2.6 MMcf/d and 121 bbl/d condensate at 3137 psi well head pressure.

During the month, the Company also completed drilling the Apamate-2X exploration well on its 100 percent owned and operated La Creciente Block. The well failed to test hydrocarbon flow at economic rates and was plugged and abandoned.

dyor etc.

[energiser01] 15/2/2012 13:15

Update FAR First Australia Resources (one of the smaller holdings).

SP up from 0.024 low in Dec to around .036 last night in AUS.

Could be interesting year ahead for FAR.....

FAR took over Flow Energy as tail end of 2011 - Snippet from Jan qtr report.

As a result of the takeover, FAR has a strong and diversified suite of assets whilst retaining a focus on Africa. In particular, the addition of the high impact Kenyan project has added an East African arm to our portfolio. The recent exploration successes of Anadarko and BG offshore Mozambique and Tanzania have focussed the spotlight on East Africa where Apache is expected to drill its first well in Kenya in mid 2012.

FAR's recent acquisition of two blocks in Kenya, L-6 and L-9, has expanded the Company's African presence. Recent discoveries offshore East Africa have prompted much excitement and activity in this relatively unexplored frontier. With large equity positions and the strong farm-out potential of these two blocks, FAR is well positioned in this fast emerging oil and gas margin.

It also has activities ongoing in Senegal



ASX ANNOUNCEMENT AND MEDIA RELEASE
SENEGAL RENEWAL - PRESIDENTIAL DECREE RECEIVED
Offshore Senegal, West Africa (FAR – 90%)
As foreshadowed in an ASX release dated 13 February 2012, FAR is now pleased to announce that it has received a Presidential Decree in respect of FAR's entry into the next exploration phase (second renewal period) of the Rufisque and Sangomar and Sangomar Deep offshore blocks.
The Decree confirms that the second renewal period will run for a period of two years commencing 6 February 2012.
For further information, please contact:
Perth Office

This will enable potential Farm-ins to proceed with a view to drilling in 2012.

The Rufisque, Sangomar and Sangomar Deep offshore Production Sharing Contracts (PSC) cover an area of approximately 7,490km2 over the shelf, slope, and basin floor of the Senegalese portion of the productive Mauritania-Senegal-Guinea-Bissau Basin.

Multiple prospects exist with probabilistic oil in place (OOIP) estimates, derived by the previous Operator, ranging from 200 million barrels (bbl) to greater than 1 billion bbl potential.

Particular focus has been drawn to analogue fields including Cantarell, recognised as a super-giant accumulation being Mexico's and perhaps North America's largest. In pre-rift time Senegal was considered to be adjacent to Mexico before the African and American continents pulled apart.

FAR is seeking interest from potential farmin partners. Please click here to view FAR's Senegal Farmout Brochure.

dyor etc..

[energiser01] 14/2/2012 15:28

DeeThree - Another of the trusts smaller holdings.

DeeThree Announces Significant Bakken Discovery Well
CALGARY, ALBERTA--(Marketwire - Feb. 14, 2012) -

DeeThree Exploration Ltd. ("DeeThree" or the "Company") (TSX:DTX) (OTCQX:DTHRF) announces the results of its fifth horizontal Bakken well on its Lethbridge property.

This Bakken well was drilled on the eastern portion of its Lethbridge property to a planned total depth with a horizontal lateral of approximately 970 meters in a significant porous Bakken target zone. The horizontal lateral was successfully fracture stimulated, placing 112 tonnes of sand over 14 stages using an energized water based system. After stimulation, the well was flowed for clean-up for four days up the 4 1/2" frac string with final stabilizing flowing rates of approximately 550 bbls/d of 30° API reservoir oil and 60 mscf/d of natural gas. Final water cuts were approximately 10% with further remaining load water from the fracture stimulation to be recovered. The well is currently shut-in in order to remove the frac string and install a smaller diameter production string. The well is expected to be placed onto production shortly after which it will undergo addition testing and evaluation procedures. The well will be tied-in to DeeThree's extensive oil and gas processing infrastructure. The well is located approximately 35 kilometers from DeeThree's original Bakken discovery well.

DeeThree is very pleased with the results of its Bakken exploration and development program on its Lethbridge property to date. DeeThree's greatly increased understanding of the Bakken play derived from the 2011 four well Bakken test program and its extensive 3D seismic has resulted in a more targeted approach to drilling on its acreage. This has resulted in DeeThree's most significant Bakken discovery well to date. Over the course of the six months preceding the drilling and completion of the this well, DeeThree strategically added to its extensive land position in the Bakken fairway through its acquisition of an additional 17 sections of crown land that are on trend with this discovery well. DeeThree will continue to delineate this exploration discovery using its in-house geotechnical knowledge with follow-up drilling locations that are currently in the licensing process. The Bakken play will continue to be a primary focus of DeeThree.

Update

The farmee under the Farmout and Joint Venture agreement described in DeeThree news release of April 18, 2011 has elected to terminate the agreement after having drilled only one well of the four well commitment. This well is currently producing. The farmee earned a 60% working interest in the well and in 6.0 sections of the farmout lands and has no right to earn additional interests in the farmout lands. A termination fee of $3 million has been paid to DeeThree. The lands subject to the agreement are located approximately 41 kilometers from the discovery well described above and targeted a different Bakken interval.

dyor etc..

[energiser01] 13/2/2012 11:23

BPC - Bahamas Petroleum (Trust had 1.94% of NAV back in sept 2011)

Moving close to 12p from a low of 6p back in dec 2011. again speculation on American majors, plus news flow driving this small company.

dyor etc..

[energiser01] 13/2/2012 10:30

GKP - Gulf keystone (Trust had 1.6% of NAV in sept 2011 for gkp)

up from 150p in sep and 200p in jan to around 400p today on speculation one or more majors sniffing around.

dyor etc..

[energiser01] 09/2/2012 15:19

Update Sparton Oil (1.52% of NAV back in Sep2011)

SP was about Cand $2.4 then and now around $4.2 now (up about 8% today on back of the good report today) very strong NAV increase (see below).

Full report @



Spartan Oil Corp. Announces Year End 2011 Reserves, 2012 Capital Program and Provides Operational Update
CALGARY, ALBERTA--(Marketwire - Feb. 9, 2012) - Spartan Oil Corp. ("Spartan" or the "Company") (TSX:STO), is pleased to provide the results of its 2011 year end reserve update, Spartan's 2012 capital program and an operational update.

2011 YEAR END RESERVE HIGHLIGHTS

The Company enjoyed a substantial increase in reserves, production and net asset value as a result of a successful drilling program in 2011. Highlights include:

Total Proved plus Probable ("P+P") reserves as at December 31, 2011 of 21.4 million boe ("Mmboe") (87% oil and liquids); this represents an increase of over 18.4 Mmboe from June of 2011 when the Company commenced operations;
Total Proved reserves as at December 31, 2011 of 14.8 Mmboe (87% oil and liquids);
Net present value before tax 10% (PVBT10) of P+P reserves of $339 million;
Achieved finding and development costs (including revisions) of $16.72 on a P+P basis and $23.54 on a Proved basis (including undiscounted future development capital);
Based upon an estimated fourth quarter 2011 average corporate netback of $54.32 per boe, Spartan achieved a recycle ratio of 3.2 times (based on P+P reserves);
Proved reserve life index of 26.6 years based on annualized fourth quarter 2011 production; and
The Company's estimated net asset value per diluted share (calculated on PVBT10 values) increased to $5.09 from $1.49 in June, 2011 (see below for full calculation).

dyor etc..

[marab] 07/2/2012 14:46

energiser01 - that's the sort of news I like to see. The chart is starting to look a bit healthier as well.

[energiser01] 07/2/2012 14:08

Gran Tierra Update

Gran Tierra Energy Announces 2011 Year-End Reserves
Reservoir Performance at Costayaco, Moqueta Appraisal Program, and Asset Acquisitions Result in Another Record Year of Reserves and Production

CALGARY, Feb. 6, 2012 /CNW/ - Gran Tierra Energy Inc. (NYSE Amex: GTE; TSX: GTE) ("Gran Tierra Energy"), a company focused on oil exploration and production in South America, today announced the results of an independent reserve evaluation of the company's reserves by GLJ Petroleum Consultants Ltd. ("GLJ") effective December 31, 2011.

Year-end 2011 Highlights net after royalty ("NAR"), calculated in accordance with United States Securities and Exchange Commission ("SEC") rules (comparisons are to 2010 year end amounts):

Total Proved ("1P") reserves increased 43% to approximately 34.0 million barrels of oil equivalent (approximately 90% light and medium oil and liquids);
Total Proved plus Probable ("2P") reserves increased 56% to approximately 48.8 million barrels of oil equivalent (approximately 85% light and medium oil and liquids);
Total Proved plus Probable plus Possible ("3P") reserves increased 57% to approximately 85.8 million barrels of oil equivalent (approximately 69% light and medium oil and liquids);
Reservoir performance expectations were exceeded at the Costayaco field in Colombia. Costayaco 1P reserves changed to 16.4 million barrels of oil at year-end 2011, from 17.7 million barrels of oil at year-end 2010 despite total production of 4.5 million barrels of oil NAR at the Costayaco field in 2011;
Appraisal drilling in 2011 within the area of mapped possible reserves in the Moqueta field in Colombia resulted in 1P reserves increasing 329% to approximately 5.1 million barrels of oil, 2P reserves increasing 157% to 7.7 million barrels of oil and 3P reserves increasing 2% to 9.9 million barrels of oil. The limits of the field have not yet been defined;
Gran Tierra Energy produced approximately 8.3 million barrels of company interest oil before royalties and 1,634 million cubic feet of company interest gas before royalties in 2011;
Based on Gran Tierra Energy's 2011 year end SEC company interest reserves and Gran Tierra Energy's 2011 average working interest production, Gran Tierra Energy's 1P, 2P, and 3P reserves life indices are 5.1 years, 7.2 years, and 12.4 years respectively.
Annual production for 2011 averaged approximately 23,400 company interest barrels of oil equivalent per day ("BOEPD") before royalties, or 17,400 BOEPD NAR, an increase of approximately 21% versus 14,440 BOEPD NAR in 2010. Production in the fourth quarter of 2011 averaged approximately 18,600 BOEPD NAR. Production in December 2011 has averaged approximately 18,400 BOEPD NAR.

dyor etc..

[marab] 30/1/2012 15:45

NAV slowly grinding its way back up again, up to Sept 2010 levels now. Keep up the good work young man, it's appreciated by us silent lurkers.

[energiser01] 25/1/2012 13:55

Cresent Point Update.



Full release @

Looks a good deal, only 3% premium to WSX Share price (+some debt) + lots of potential upside.....

Crescent Point Announces Strategic Shaunavon Consolidation Acquisition of Wild Stream Exploration, Expansion of Beaverhill Lake Land Position and Upwardly Revised 2012 Guidance
CALGARY, Alberta, January 25, 2012 /PRNewswire/ --

/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES/

Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) is pleased to announce that it has entered into an arrangement agreement (the "Wild Stream Arrangement") with Wild Stream Exploration Inc. ("Wild Stream"). Wild Stream is a publicly traded and 90 percent oil-weighted company with production of approximately 6,400 boe/d. Under the terms of the Wild Stream Arrangement, Crescent Point expects to acquire approximately 5,400 boe/d of Wild Stream's production, 91 percent of which is contiguous with Crescent Point's assets in the Shaunavon and Battrum/Cantuar areas of southwest Saskatchewan. The balance of Wild Stream's production will be transferred into a new junior exploration company ("Newco") in which Crescent Point will hold 2.65 million shares.

Assuming the successful completion of the Wild Stream Arrangement, Crescent Point's average daily production in 2012 is expected to increase to 83,500 boe/d from 80,000 boe/d and its 2012 exit production rate is expected to increase to more than 90,000 boe/d from 85,000 boe/d. In the Shaunavon resource play, the Company expects to have combined production of greater than 15,000 boe/d and more than 800 net sections of land, which include more than 200 net sections expected to be acquired in the Wild Stream Arrangement.

The Company also announces that it has expanded its land position in the Beaverhill Lake light oil resource play in northwest Alberta by more than 100 net sections through a series of acquisitions and Crown land sales, including 15 net sections expected to be acquired in the Wild Stream Arrangement.

dyor etc..

[energiser01] 05/1/2012 11:21

COVE Energy (one of the smaller holdings - but every little bit helps)

Has put itself up for sale today.



Has risen from around 75p on Sep 30th to 120p+ today.

NCIM held 500k shares in Cove (back in Sep 11) may have changed since.

dyor etc..

[energiser01] 05/1/2012 10:37

Coastal Energy (2nd largest at 8% of NAV @ 30/11/11)

Continuing strong run, share price now £11 at present up from c. £8.70 on 30/11 approx. +26%.



Expect to see Coastal take top slot (approx 10 to 11%) with Coalspur dropping approx. -5% over same period....

Trust may have sold into this strenght or bought more, that I don't know so on a like for like basis estimate only.

looks like Coastal set up for strong 2012 and beyond........

dyor etc..

[energiser01] 19/12/2011 12:13

End of Nov, In @ 5th place and 3.2% of NAV at that point, is Neon Energy



Been on strong run recntly since start of oct (.27) to now (.485) and as high as 0.59 earlier in DEC.

dyor etc..