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Oil News Round-up

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GreenHunter Water further expands equipment fleet in Appalachian region
Friday, May 25, 2012

Completed the purchase of new rolling stock equipment assets to service oil and gas operators.

Basic Energy Services announces reauthorized share repurchase program
Friday, May 25, 2012

The timing and actual number of shares repurchased will depend on a variety of factors including the stock price, corporate and regulatory requirements and other market and economic conditions.

Forum Energy announce increase in loan facility
Friday, May 25, 2012

The Board of Forum announce that Forum Philippines Holdings Limited, a wholly-owned subsidiary of the Company, has today agreed an increase in its existing loan facility agreement with Philex Mining Corporation.

Continental Resources names Kirk Kinnear as Vice President of Oil Marketing Logistics
Friday, May 25, 2012

Appointment of Kirk Kinnear as Vice President of Oil Marketing Logistics.

Donnycreek announces $3.5 million private placement equity and debenture financing
Friday, May 25, 2012

A portion of the proceeds raised from the Offering will be deployed on Donnycreek's 16 gross section (4,140 ha/10,240 acres) land block located in the liquids-rich Kakwa Montney gas trend.

TriOil announces 2012 first quarter results, three impactful light oil results and confirms 2012 guidance
Friday, May 25, 2012

Increased average production volumes to 1,602 boe/d, up 25% from 1,286 boe/d from the same period in the prior year and up 14% from 1,408 boe/d in the fourth quarter of 2011.
TriOil executed an active drilling program during the first quarter of 2012, drilling 9 (5.5 net) horizontal, multi-stage frac wells in its core light oil resource plays at Kaybob and Lochend.

Beach progressing tie-in of new operated oil trunkline to Moomba, Tantanna pipeline to be shut down
Friday, May 25, 2012

Beach has been informed by Santos, the operator of the Tantanna to Moomba oil pipeline, that Santos plans to permanently shut down the Tantanna to Gidgealpa oil pipeline on 1 June 2012.

Caspian to acquire assets in Portugal
Friday, May 25, 2012

The acquisition delivers new tungsten development and exploration assets in Portugal to the Company complementing the near term tungsten production and exploration at La Parrilla in Spain and an additional opportunity in gold exploration.

U.S. Oil & Gas announce operations update at Eblana #1
Friday, May 25, 2012

Oil shows observed and samples collected while drilling indicate multiple potential hydrocarbon pay zones.

Porto Energy Corp. secures two additional concessions and announces modified 2012 work program
Friday, May 25, 2012

The Zambujal and Peniche concessions cover approximately 315,000 and 96,000 acres, respectively.
The Company finished approximately 82% of its 2011 work program.

Cancen Oil Canada Inc. signs letter agreement to acquire Kinsella crude oil terminal and blending facility from Astra
Friday, May 25, 2012

The Facility consists of surface facilities and equipment required to facilitate custom blending and terminalling of 450 m3 of sweet clean oil per day.

Azabache renegotiates Antares Block terms
Friday, May 25, 2012

Drilling of the Lemaya well.
Drilling of the La Mona well.
Completion of a 3D seismic program.
Contributed US$1.9 million in escrow toward the program costs.

EnerJex Resources announces a 50% increase in oil production from its Mississippian project
Friday, May 25, 2012

Results from this drilling program have exceeded management's expectations, and production from this project has increased by 50% since the end of 2011 to approximately 150 barrels of oil per day.

Gas encountered in Armour Energy's first Macarthur Basin well, Cow Lagoon 1
Friday, May 25, 2012

Cow Lagoon 1 (Armour Energy 100% and operator) has encountered gas from indeterminate zones in the Reward Dolomite between 342 and 540 metres depth.

Sunridge announces operational update, definitive heavy oil development agreement and financing
Friday, May 25, 2012

The existing log analysis indicates 15 metres of pay, twice as thick as our discovery well.

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