Africa Oil Announces Commencement of Drilling on Erut Prospect in Kenya

VANCOUVER, BRITISH COLUMBIA--(Dec. 19, 2016) -Africa Oil Corp. (TSX:AOI)(OMX:AOI) ("Africa Oil", "AOC" or the "Company") is pleased to announce the resumption of drilling on Block 13T in Kenya. The Erut-1 well, which spudded on December 18th, is located on a large structural feature in the northern part of the South Lokichar basin and is intended as a follow up well to the successful Etom-2 well which discovered 102m of net pay that had some of the best reservoir characteristics seen to date in the basin. This is the first well in a firm four well program, with the potential for an additional four contingent follow on wells, which is expected to continue through the first half of 2017.
Published: 19 December 2016
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Condor's Poyraz West 5 Encounters 163 Meters of Net Gas Pay, Discovers New Lower Carbonate Interval

CALGARY, AB--(December 15, 2016) - Condor Petroleum Inc. ("Condor" or the "Company") (TSX: CPI) is pleased to announce drilling results of the Poyraz West 5 appraisal well in Turkey.
 
Poyraz West 5 successfully evaluated the down-thrown fault block or "footwall" of the Poyraz Ridge field. Importantly, this footwall represents up to 30% of the field's structural area but currently has no attributed reserves. Based on wireline logs, the well encountered 163 meters of net gas pay in multiple stacked reservoirs. Consistent with the recently drilled Poyraz 5 well (140 meters of net gas pay) and the Poyraz 3 well (135 meters of net gas pay), no gas water contact was penetrated in the Gazhanedere reservoirs. In the Sogucak reservoir, gas bearing intervals were present down to the basement rock without encountering a definitive gas water contact and include a newly discovered lower Sogucak interval. Production casing has been run and cemented and the well will be completed and tied-in prior to first gas, which remains on schedule for mid-2017.
Published: 15 December 2016
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Baytex Announces 2017 Budget and CEO Succession

2016-12-12 08:48 ET - News Release -- CALGARY, ALBERTA -- 12/12/16 Baytex Energy Corp. ("Baytex") (TSX:BTE)(NYSE:BTE) announces that its Board of Directors has approved a 2017 capital budget of $300 to $350 million, which is designed to generate average annual production of 66,000 to 70,000 boe/d. Baytex also announces that Ed LaFehr, President, will succeed James Bowzer as Chief Executive Officer in May 2017.
 
2017 Budget
Commenting on the budget announcement, James Bowzer, Chief Executive Officer, said: "We have three high quality resource plays in our portfolio and believe 2017 will be a year that builds operational momentum for Baytex. In Canada, after a drilling hiatus, we are excited to get back to work with an active first quarter drilling program. In the Eagle Ford, we expect to maintain a consistent pace of development on our lands throughout 2017. We have designed our 2017 budget to be flexible should we continue to experience a volatile commodity price environment."
Published: 12 December 2016
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Canacol Energy Ltd. Negotiates New Gas Sales Contracts, Initiates Private Gas Pipeline, and Forecasts 130 MMSCFPD of Gas Production Exiting 2017 and 230 MMSCFPD of Gas Production Exiting 2018

CALGARY, ALBERTA--(Nov 23, 2016) - Canacol Energy Ltd. ("Canacol" or the "Corporation") (CNE.TO) (CNNEF) (BVC:CNEC) is pleased to provide the following update concerning the execution of 100 million standard cubic feet ("MMscfpd") of new gas sales contracts to existing and new customers located on the Caribbean coast of Colombia, and the initiation of a private pipeline venture that will deliver 40 MMscfpd of new gas production to new and existing customers located on the Caribbean coast in 2017.
Published: 23 November 2016
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Granite Oil Corp. Announces Third Quarter Results and Provides Operational Update and Guidance 

GRANITE OIL CORP. ("Granite" or the "Company") (TSX:GXO)(OTCQX:GXOCF) is pleased to announce results for the third quarter of 2016 and to provide an operational update and guidance.

Operational Update

Granite's focus throughout 2016 continues to be the rapid transition of its 100%-owned Alberta Bakken oil resource to a proven, full-scale gas injection enhanced oil recovery (EOR) scheme as efficiently as possible, positioning the Company for sustainability with the emphasis on maximizing long-term shareholder value.

Published: 10 November 2016
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