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[o1lman] 29/11/2016 09:10

LONDON--Sound Energy PLC (SOU.LN) said Tuesday it has signed a contract for the drilling rig for its Badile exploration well in Italy.
This will allow the company to proceed with drilling of the Badile well in the first quarter of 2017, the company said.
The contract comes on the back of a memorandum of understanding with Pergemine S.p.A.

[o1lman] 29/11/2016 08:12

Pantheon Resources plc

Operational Update

Pantheon Resources plc ("Pantheon" or the "Company"), the AIM-quoted oil and gas exploration and development company with a working interest (of 50%-58%) in several conventional projects located in Tyler and Polk Counties, onshore East Texas, today announces the following statement:

Jay Cheatham, CEO, will be in London this week meeting with investors, and during those meetings will be discussing the following information:

Update on VOBM#3, Polk County, East Texas

Flow testing operations on VOBM#3 are ongoing. Data received to date is not yet conclusive and is indicative of a well continuing to clean up. On a 10/64ths choke, the flowing tubing pressure ("FTP") ranged from 4,000 to 5,900 psi. Natural gas flow rates ranged from 1,500 to 3,000 mcfpd and the oil (51 degree API) flow rate ranged from 24 to 240 bopd, equivalent to 274 to 740 boepd. At the end of the latest testing period the FTP was increasing. By comparison, a 12/64ths choke, which was used to flow test the VOBM#1 well, has a surface area that is over 40% larger than that of the 10/64ths choke used on this well.

The operator chose to perform a single stage fracture stimulation procedure on the well in order to emulate the possible benefits of horizontal drilling. To date, less than 60% of the fracture stimulation fluid has been recovered which may be a contributor to the variability in flow results to date.

Given the variability in flow data, it is impossible at this early stage to make an accurate prediction of the well's ultimate potential, however based on the data received to date management believe that the well will be a commercial producer. We expect flow rates to stabilize going forward. Reinterpretation and analysis of 3D seismic information following logging data from this well, suggests that VOBM#3 is located near the edge of the reservoir, accounting for the differences to the excellent flow test data from the VOBM#1 well, located circa one mile away, and which appears to be more centrally located within the mini basin. Whilst at an early stage, results to date support management plans for the contracting of the preferred gas processing option, which targets first production revenues in Spring 2017. Further updates on this process will be made when appropriate.

Flow testing will continue, and results will be announced once flow rates have stabilized and testing operations are completed.

Update on VOBM#4, Tyler County, East Texas

Drilling continues at approximately 12,000 feet vertical depth, on schedule and on budget. A further update will be provided at the Company's AGM.

Jay Cheatham, CEO, said:

"Today's announcement has been made earlier than would normally be the case, however with investor meetings scheduled it is necessary to issue a cleansing statement ensuring that information is available to all investors equally. Usually an announcement would only be made after testing is complete. An accurate assessment of the well can only be made once testing operations are complete."

"Analog wells in the Double A Wells field, with similar flowing tubing pressures during testing have been good wells. It is well documented that individual well performance of Double A Wells field wells showed variance, dependent upon their respective location within the reservoir, with better quality sands typically located closer to the centre of the basin. This is consistent with the experience of our drilling and analysis to date. Based on the early results to date, our assessment of the potential of our acreage is undiminished."

[o1lman] 29/11/2016 07:31

By Alex MacDonald

LONDON--U.K.-based oil and gas producer Hurricane Energy PLC(HUR.LN)said it has exercised its option over the Transocean Spitsbergen drilling rig last Friday to drill the Halifax prospect.
The Halifax well will be drilled after completion of the Lincoln well.

[o1lman] 25/11/2016 18:35

FAR to drill two SNE appraisal wells in 2017
FRIDAY, NOVEMBER 25, 2016


FAR Ltd and its Senegal joint venture partners have agreed the firm drilling program for 2017 consisting of two appraisal wells on the world class SNE oil field. The wells will be drilled in order to optimise the SNE field development plan before submission to the Government of Senegal for approval.

The joint venture has completed an extensive rig tender evaluation process and executed contracts for the use of the Stena DrillMAX drillship for the two well drilling program commencing in 1Q 2017. The SNE-5 and SNE-6 wells are located within the SNE oil field and are designed to evaluate the upper SNE reservoir units (400 series), specifically the connectivity of the reservoir section and depositional model interpreted from existing wells and high quality 3D seismic data.

The drilling and evaluation plan is for SNE-5 to undergo drill stem testing (DST) and have permanent gauges placed in the upper reservoir units. SNE-6 is to be drilled immediately after SNE-5, and it is also expected to undergo an extended DST program in order to generate a pulse that will be registered in the gauges installed within the upper reservoir section at SNE-5 and SNE-3.

Successful flow and interference test results that support connected reservoir units are expected to lead to higher than currently estimated ultimate oil recoveries by FAR from these reservoir units.

The joint venture is progressing towards the submission of a development plan for the SNE field as quickly and efficiently as possible, with pre-FEED activities currently focused on determining the final project size and scope. The SNE-5 and SNE-6 wells are expected to provide important data for SNE reservoir management and will play a key role in optimising the proposed SNE project development.

The Stena DrillMAX has been contracted for a firm two wells plus additional option wells and the drilling program will commence in Q1 2017.

FAR managing director, Cath Norman, said:

'We look forward to the results from the next phase of drilling and evaluation activity over our world class SNE oil field, offshore Senegal. The Stena Drillmax has completed an efficient drilling program elsewhere offshore West Africa and is currently located in Las Palmas. After a rigorous tender process, our joint venture has been able to secure the rig at a very attractive operating day rate, reflecting current market conditions and at a substantially lower cost than our two previous drilling campaigns. We look forward to providing updates in the coming weeks regarding expected spud date'.

[o1lman] 25/11/2016 18:18

now the laggards, AMER will support hold ? no respite for RKH. market moving news next week, be ready to react to the outcome.

[o1lman] 25/11/2016 18:15

this week's leader, a different view showing it sits at resistance.

[o1lman] 25/11/2016 07:38

Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) ("Ithaca" or the "Company") provides an update on the status of the on-going Stella field commissioning programme and the expected schedule for start-up of production.



Activities on the offshore commissioning programme for the FPF-1 floating production facility are well advanced and preparation for start-up of the Stella field is on-going. During routine inspections, faults on a number of electrical junction boxes on the vessel's processing facilities have been identified and a programme of necessary repairs is underway. All other preparations are on plan. Start-up is now anticipated in early January 2017, upon completion of this additional work.

[o1lman] 24/11/2016 09:59

("Sound Energy" or the "Company")

Tendrara: TE-7 Post Stimulation Flow Rate

Sound Energy, the European and African focused upstream gas company, is pleased to confirm a successful second well at the Company's Tendrara licence, onshore Morocco.

As announced by the Company on 7 October 2016, the Company's second Tendrara well (TE-7) was drilled successfully to a total measured depth of 3,459 metres, corresponding to a vertical depth of 2,611 metres. TE-7 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 operations and is pleased to announce that it has achieved a gas flow rate towards the end of the clean up process, post stimulation, of 32 MMscf/d with a flowing tubing head pressure of 230 bar on a choke of 40/64. This rate is significantly above the Company's pre-drill expectations. Based on the clean up phase, the well's potential is predicted by the Company to be significantly above 40 MMscf/d with a 50% drawdown.

The Company will now proceed with the planned extended well test of TE-7 to confirm production sustainability and to aid comprehensive field development planning. The TE-7 bottom hole reservoir pressure and its correlation with the gas gradient of the other Tendrara wells will be announced after conclusion of the the extended well test.

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

James Parsons, Chief Executive Officer of Sound Energy, commented:

"I am pleased to report the success of our second well at Tendrara and that the use of sub-horizontal drilling techniques on TE-7 has delivered a significant uplift on flow rates. This result further re-inforces our belief in the Eastern Morocco TAGI / Palaeozoic play.

My team and I look forward to the results of the extended well test and the finalization of plans for our first outpost well, TE-8."