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[fanshaw] 04/11/2016 19:04

Serica energy

[o1lman] 04/11/2016 19:00

and the laggards

[o1lman] 04/11/2016 18:58

this week's leader, the only positive chart.

[o1lman] 04/11/2016 07:41

LONDON--Independent oil and gas company Faroe Petroleum PLC (FPM.LN) said Friday the Njord production facility has been selected as preferred concept for Pil & Bue development in Norway.
Faroe said the partners in the Pil & Bue discoveries (license PL586) have decided that a subsea development solution tied back to the Njord platform in the Norwegian Sea is the preferred concept for development of the Pil & Bue discoveries.
Faroe also holds a 25% stake in the Pil & Bue discoveries.
The Njord partners comprises; Statoil Petroleum AS which holds a 20% stake and is the operator, Engie E&P Norge AS has 40%, DEA Norge AS has 30%, Faroe Petroleum Norge AS holds 7.5% stake and VNG Norge AS has a 2.5% interest.
The Njord production facility is currently in Kvaerner's Stord facility in Norway undergoing extensive modifications in order to increase materially its operating life and accommodate a number of new satellite field tie-back developments including Pil & Bue.

[o1lman] 02/11/2016 07:27

Victoria Oil & Gas Plc

("VOG" or "the Company")

Logbaba Development Wells Spudded

Gaz du Cameroun S.A. ("GDC"), the Company's Cameroon gas producing and distributing subsidiary, is pleased to announce the spudding of development wells La-107 and La-108 in the Logbaba Gas Field located in Douala, Cameroon. The wells are being drilled by Savannah Oil Services Cameroon S.A. ("Savannah") using the Komako 1 drilling rig.

The new wells are required to meet the growing market demand for gas in Douala, to develop Logbaba reserves and to move some of the 2P (Proven plus Probable) reserves into the 1P (Proven) reserve category. One of the wells, La-107, will twin the La-104 well drilled in 1957; the other well, La-108, will be a 'step-out' well that will be drilled into a target that is intended to prove up more of our Probable reserves. Both wells will be drilled directionally from a drilling pad adjacent to the Logbaba processing plant, and will be tied into this facility once completed. The La-104 twin well is almost vertical; whereas La-108, the 'step-out' well, will be drilled to intersect a target that is about 1,100m to the south-east of the Logbaba drilling pad.

The wells are intended to be production wells completed in the Upper Cretaceous (Campanian and Santonian) Logbaba Formation, which is a thick sequence of interbedded sands and shales found at depths between 1,700m and 3,200m below the surface. In addition to developing the gas reserves in the Logbaba Formation, one of the wells, La-107, has an additional objective of an 'exploration tail.' This is to be drilled from the base of the Logbaba Formation down to 4,200m below the surface to test the hydrocarbon potential of the Lower Cretaceous Mundeck Formation which had gas shows and a significant gas kick in La-104 (which is twinned by La-107). Execution of the exploration tail is dependent on well conditions to be established during the drilling programme.

The budget total for the two well programme, without the exploration tail, is approximately $40m, which is expected to be funded by revenue and partner contributions.

[o1lman] 02/11/2016 07:25

Sound Energy plc

("Sound Energy" or the "Company")

Tendrara: TE-7 Pre Stimulation Flow Rate

Sound Energy, the European and African focused upstream gas company is pleased to provide the following update in relation to TE-7, the Company's second well at the Tendrara licence area, onshore Eastern Morocco.

As announced by the Company on 7 October 2016, the Company's second Tendrara well (TE-7) was drilled to a total measured depth of 3,459 metres corresponding to a vertical depth of 2,611 metres. The well has a total contact length through the TAGI reservoir of some 837 metres, including a 700 metres sub-horizontal section.

The Company has now completed TE-7 and perfomed an initial, unstimulated, open hole well test of the first 28% of the gross reservoir interval. After 24 hours of continuous flow with a 32/64 choke, a rate of 8.8 MMscf/d was achieved with strong pressure build up post test. The rate is significantly better than the Company's estimates.

The Company will now complete the planned mechanical stimulation and well test of the entire sub-horizonal section. The post stimulation flow rate results are expected mid November 2016. Thereafter the Company will initiate the planned Extended Well Test to confirm production sustainability and to aid comprehensive field development planning.

[o1lman] 01/11/2016 10:46

LONDON--Pantheon Resources PLC (PANR.LN) said Tuesday drilling has started at the VOBM No.4 well, onshore Tyler County, Texas, with a planned depth of 15,500 feet targeting the Eagle Ford/Woodbine sandstone formation.
The AIM-quoted oil and gas exploration company, which has a 50% working interest in the well, said drilling operations are expected to take 60-65 days on a trouble free basis.
The well location will test how far the reservoir discovered at the VOS No.1 discovery well extends, and is based upon 2D seismic interpretation and proprietary geological and geophysical modeling, Pantheon said.
The company also said a workover rig has been contracted for the planned flow testing of the VOBM No.3 well, in which Pantheon has a 58% working interest. Preparations for testing operations are estimated to start in 10 to 14 days, it added.