Tower Resources (TRP) wins the prize for gingering up the market when it announced that in Namibia, seismic interpretation had confirmed the presence of giant structures which could contain 10 billion barrels, unrisked, from three prospects. In Uganda, a well is being planned before the end of 2008. Tower Resources'share price shot up 230% on the day.
Ten billion seems to be a popular number as Falkland Oil and Gas (FOGL) told shareholders at its AGM that 'In aggregate, our ten top ranked prospects have the potential to contain hydrocarbon resources in excess of 10 billion barrels oil equivalent. We hope to commence exploration drilling in 2009."
Faroe Petroleum (FPM) has said that the Topaz well in Block 49/2a in the UK Southern Gas Basin, has been spudded.
EnCore Oil's (EO.) first operated well the Cobra appraisal well on Southern North Sea block 48/2c, has reached total depth, and flow testing operations are under way.
Northern Petroleum (NOP) has received planning approval to drill from a site in West Sussex. As an aside, I happened to notice an articulate young lady from the local area on the telly the other day, worrying about the impact of the drilling on the wee beasties. This one could get interesting for neutrals.
Petroceltic International (PCI) has received approval to extend the Isarene exploration permit in Algeria for two years until 2010 and a three year extension to the Ksar Hadada permit in Tunisia.
Antrim Energy (AEY), has finished drilling and testing operations on the Fyne Field (Antrim WI 75%), in the UK central North Sea.
CDS Oil and Gas Group (CDS) has completed a 700km 3C-2D seismic data acquisition programme on the Boqueron Block in Paraguay.
At its Niobrara project in the US, Irvine Energy (IVE) has 10 wells in production, another 8 ready to go into production, and expects to drill another 40 wells in the near future.
Gulfsands Petroleum (GPX) has completed drilling operations on the first horizontal development well within the Khurbet East Field, Syria. Production is expected to start by the fourth quarter of 2008. Emerald Energy (EEN) has an interest in Khurbet East.
Nautical Petroleum (NPE) has spudded the Selkie exploration well in North Sea block 8/25a-1.
Ascent Resources (AST) is to plug and abandon the Nko-Ny-1 gas exploration well in the Szolnok exploration permit in central Hungary.
Matra Petroleum (MTA) is to plug and abandon the Arkhangelovskoe - 11 exploration well in Russia, as dry.
Pan Andean Resources (PRE), has started a 60km seismic survey in its 100% owned Antorcha Block, located in the Middle Magdalena Basin of Colombia.
Independent Resources (IRG) received confirmation that exploration rights on the Ksar Hadada oil and gas exploration permit in Tunisia have been extended for a further three years.
Ramco (ROS) has acquired Eagle HC Limited for an initial consideration of £1.25 million to be satisfied in Ramco shares. Eagle owns a portfolio of North Sea royalty interests.
Nostra Terra Oil and Gas Company (NTOG) has raised £400,000 in a placing of new shares at 0.75p per share. The funds will be used for working capital purposes.
Maple Energy (MPLE), has raised $25 million in a placig of new shares at £1.60 per share.
Nautical Petroleum has farmed out a 30% interest in North Sea block 8/25a to Canamens Energy North Sea Limited.
Island Oil and Gas (IOG) has sold its Netherlands subsidiary to Delta Hydrocarbons for $25 million. The proceeds will be used to reduce debt and develop the remaining asset portfolio.
And finally, the enthusiasm of a US based institutional shareholder for Caza Oil and Gas (CAZA) has meant that its latest share purchase in the Company has inadvertently taken Millenium Global Investments into a 32.9% ownership position in Caza. Millenium are now trying to reduce their stake to rectify their error.
Source: SmallCapNews