Porto Energy Provides Operational Update on the ALC-1 Presalt Well and Lias (Unconventional Oil) Drilling Program
Porto Energy Corp., (" Porto " or the "Company") (PEC.V), a company focused on oil and gas exploration, appraisal and development in Portugal , is pleased to provide an operational update on the ongoing drilling of its Alcobaça #1 ("ALC-1") Presalt well in the Aljubarrota-3 concession and its Lias stratigraphic drilling program, onshore Portugal .
The ALC-1 well is being drilled under a joint venture with Petróleos de Portugal - Petrogal ("Galp") who is carrying Porto on 50% of the total drilling costs of this well. The Company spud the ALC-1 well, its first Presalt well, at the end of August 2012 and has reached a total measured depth of 2,935 meters. Using interpreted 3-D seismic data, the ALC-1 well is targeting a mapped four-way closure approximately 800 meters high to the ALJ-2 appraisal well at the Company's Aljubarrota gas discovery.
Lundin Petroleum Finds Gas in Barents Sea Lundin Petroleum AB (TSX:LUP)(OMX:LUPE) (Lundin Petroleum), through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), is pleased to announce that exploration well 7220/10-1 in PL533 has discovered gas condensate in the Salina structure located on the west flank of the Loppa High in the Barents Sea.
Well 7220/10-1 has proved two gas columns in sandstone of Cretaceous and Jurassic age. Data acquisition in the well, including coring, wireline logging and fluid sampling, has proven good reservoir quality in the sandstone.
Preliminary calculations, made by the Norwegian Petroleum Directorate, give a range of gross discovered volume in the Salina structure of between 5 and 7 billion standard cubic metres (Bsm3) (29 to 41 million barrels of oil equivalent (MMboe)) of recoverable gas/condensate.
Athabasca Oil Corporation Announces Regulatory Approval of the Hangingstone Oil Sands Project 1
CALGARY, Oct. 4, 2012 - Athabasca Oil Corporation (TSX: ATH) is pleased to announce that the Lieutenant Governor in Council has authorized the Energy Resources Conservation Board to grant Approval No. 11888 for the development of its 12,000 barrels per day (bbl/d) Hangingstone Project 1.
This regulatory approval represents a significant milestone in the development of Athabasca's substantial oil sands reserve base. In early November 2012, the Hangingstone Project 1 will be presented, for sanctioning, to the Company's Board of Directors.
Front-end engineering and design (FEED), for the Hangingstone Project 1, has been completed, and the procurement of long-lead equipment is well underway. The Company anticipates project start-up by the second half of 2014.
Passport Energy Ltd. Announces Hardy SE Saskatchewan Resource Assessment and Operational Update
Calgary, Alberta, October 4, 2012 - Passport Energy Ltd. [PPO: TSX.V] (“Passport” or the “Company”) is pleased to announce that a resource assessment of Passport’s land holdings in the Hardy Area of SE Saskatchewan by independent evaluators, GLJ Petroleum Consultants (“GLJ”), has been completed. The study (effective April 30th, 2012) covers 1,774 net hectares of the Company’s interests in the Hardy Area along with an additional 2,189 net hectares of lands subject to a farm-in agreement. The resource estimates are summarized in the tables below (all numbers are net to the company):
Whitecap achieves record production of 16,900 boe/d and provides operational update
Whitecap Resources Inc. ("Whitecap", "we", "us", "our" or the "Company") (WCP.TO) is pleased to report that we have achieved record production of 16,900 boe/d (71% light oil and NGLs) for the month of September, 2012 (based on field estimates). This represents an increase of 25% over second quarter 2012 production and a 153% increase over September 2011 production. On a fully diluted per share basis, this represents an increase of 45% over September 2011 production. Whitecap's third quarter 2012 average production will be within our previous guidance of 15,500 - 16,000 boe/d.
Petroamerica Announces the Drilling Start-up of the Las Maracas-5 Well, Provides a Production Update for its Colombian Operations, and Announces the Engagement of a Special Advisor to its Board of Directors
Petroamerica Oil Corp. (TSXV: PTA) ("Petroamerica" or the "Company"), a junior oil and gas company operating in Colombia is pleased to announce the start of drilling of the Las Maracas-5 well (the "well") on the Los Ocarros Block in the Llanos Basin of Colombia, which was spud on September 30, 2012. The well is primarily targeting production from the Mirador Formation but it will also test the deeper Gacheta reservoir in a structurally low position. The well is being drilled with the Tuscany 109 drilling rig, and upon its completion, is expected to be followed closely by the Las Maracas-6 well and a possible water disposal well.
Manitok Energy Inc. Announces Increase in Size of Bought Deal Public Offering to $17.20 Million
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Manitok Energy Inc. ("Manitok") (TSX VENTURE:MEI) today announced that, as a result of strong investor demand, it has increased the size of its previously announced offering (the "Offering") through a syndicate of underwriters co-led by Integral Wealth Securities Limited, National Bank Financial Inc. and Dundee Securities Inc. and including RBC Capital Markets, TD Securities Inc., Haywood Securities Inc. and Acumen Capital Finance Partners Limited (collectively, the "Underwriters").
"The Oil's There"
Petroleum News Reports Great Bear's Results From Initial Test Wells
Royale Energy, Inc. (ROYL) Co-CEO Stephen Hosmer spoke to delegates at the Alaska Oil and Gas Congress in Anchorage last week. While sharing the stage with CEO of Great Bear Petroleum Operating LLC, Ed Duncan discussed the results of their initial test wells (Alcor #1 and Merak #1) in which they cored portions of the Shublik, HRZ/GRZ, and Kingak shales, the source rock for Alaska's Prudhoe Bay oil field. "I can tell you with absolute confidence that where we thought we would find oil in these source rocks, we found oil." Duncan said among other comments, and stated that Great Bear will accelerate the development phase of their project by as much as a full year.
Junex Galt No. 4 Confirms the Oil Potential of the Galt Property
Junex (TSX VENTURE:JNX) is pleased to announce that it has completed drilling operations at its Junex Galt #4 exploration well situated approximately 20 kilometers from the town of Gaspé in eastern Quebec. This well, which attained a total depth of 2,000 meters, was drilled by Junex's drilling division. Numerous oil shows encountered during the drilling of the well and the subsequent recovery of oil in drillstem tests confirm the presence of a very thick oil column that extends from 760 metres to 1,757 meters in depth in the well.
Ten drillstem tests were conducted of which six recovered varying quantities of oil and two recovered oil cut drilling mud; no formation water was recovered in any of the drillstem tests. A total of 29 sidewall cores were also recovered and these will be analyzed over the next few weeks.
Enhanced Oil Resources Provides Drilling Update
Enhanced Oil Resources Inc. (TSX.V: EOR; OTCQX: EORIF) (the "Company") is pleased to provide the following update regarding the Company's recent three well drilling program.
At the Company's wholly owned Milnesand oil field, the previously announced three well infill lateral program has been completed and the rig has been released. The MSU #123 well, the third and final well in this program was acidized yesterday, September 18, 2012.
The MSU #141 well, the second well in the program, was placed into production on September 9th and has produced approximately 963 barrels of oil over the initial 10 day period.
Lundin Petroleum Commences Merawan Batu Exploration Well, Offshore Peninsula Malaysia
Lundin Petroleum AB (Lundin Petroleum) (TSX:LUP)(OMX:LUPE) is pleased to announce that it has commenced the third well in its 2012 Malaysian drilling campaign with the spud of Merawan Batu-1 exploration well in PM308B Block, offshore east coast Peninsula Malaysia.The well will target hydrocarbons in Oligocene aged sands in a faulted anticline in an undrilled area 50 km to the west of the Janglau oil discovery made by Lundin Petroleum in 2011.
Merawan Batu-1 is a vertical well to be drilled by the jackup rig West Courageous to a depth of 3,584 metres in approximately 60 metres water depth.
Bankers Petroleum Announces Bid Submission
Bankers Petroleum Ltd. ("Bankers" or the "Company") (TSX:BNK.TO ) (AIM:BNK.L - News) is pleased to announce its participation today in the bid submission for the privatization of Albpetrol Sh. A., the state oil company of Albania.
Bankers' bid consists of a combination of cash consideration and future work program funding commitments in the areas of field development, social programs and remediation of legacy environmental issues.
Should this bid be accepted by the Government, Bankers will fund the cash consideration through a combination of cash on hand and debt.
Tiny BioFuel Energy SNAPPED UP by Hedge Funds and 2 Morning Hot Stocks Sparking Chatter
"Hedge fund heavyweights such as David Einhorn’s Greenlight Capital and Daniel Loeb’s Third Point are ramping up their holdings in Tiny BioFuel Energy (NASDAQ:BIOF). Greenlight’s recent purchase of 69,000 shares brings up its stake to over 36 percent, while Third Point bought 34,000 shares to hike its stake to almost 19 percent."
ShawCor Announces Strategic Review
ShawCor Ltd. (TSX: SCL.A., SCL.B) today announced that Ms. Virginia Shaw, the Chair of the ShawCor Board of Directors and the controlling shareholder of the company (indirectly through a holding company), has advised the Board of Directors that she is prepared to consider a possible sale of her shares of ShawCor as part of a sale of the company.
The Board has struck a committee of independent directors to conduct a strategic review of alternatives, including canvassing potentially interested third parties to determine if an appropriate transaction is available that would be acceptable to Ms. Shaw and would be in the best interests of ShawCor and its shareholders. At this preliminary stage, no proposals have been made, no discussions have been held with third parties, and no decision has been made by Ms. Shaw to sell her ShawCor shares.
Savitr Capital Sends Letter and Mails Proxy Circular to Western Wind Shareholders Savitr Capital, LLC (“Savitr”), a significant shareholder of Western Wind Energy Corp. (Toronto Venture Exchange: WND) (OTCQX: WNDEF) (“Western Wind” or “the Company”), today sent a letter and mailed its Proxy Circular to Western Wind shareholders urging them to vote for five new independent Board nominees (the “Savitr Nominees”) at the annual general meeting of shareholders to be held on September 25, 2012.
In the Proxy Circular, Savitr highlights a history of failed promises and serious mismanagement under the watch of the current Board, which Savitr details as beholden to CEO Jeff Ciachurski.
Madalena Ventures Inc. Strategically Enters the North American Oil & Gas Sector with the Acquisition of Online Energy Inc.
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MADALENA VENTURES INC. 200, 441 - 5th Avenue S.W. Calgary, Alberta T2P 2V1 Telephone: (403) 233-8010 Facsimile (403) 233-8013 TSXV Trading Symbol: MVN
Wavefront Technology Solutions Inc.: Petroleo Brasileiro S.A. (Petrobras) to Apply Powerwave Wavefront Receives 12-Month Contract Worth an Approximate US $1.25 Million
Wavefront Technology Solutions Inc. (Wavefront or the Company), (TSX VENTURE:WEE) (OTCQX:WFTSF) the global leader in fluid injection optimization for improved performance and profitability in the oil and gas and environmental sectors, is pleased to announce that Petrobras has awarded Wavefront a 12-month contract worth approximately US $1.25 million to implement Powerwave in the Riachuelo oil field in the State of Sergipe, Brazil.
Antrim Announces Execution of Oil Sales Contract for Causeway Field
Antrim Energy Inc. (AEN.TO)(AEY.L) ("Antrim" or the "Company") -
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Antrim, an international oil and gas exploration and production company headquartered in Calgary, Canada, today announced that, through its wholly owned subsidiary Antrim Resources (N.I.) Limited, it has executed an oil sales contract with BP Oil International Limited for the sale of Antrim's share of oil produced from the Causeway Field in UKCS Block 211/23d (Antrim working interest 35.5%).
Africa Oil Provides Update on Puntland Drilling Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or the "Company") is pleased to provide an update on the drilling program ongoing in Puntland (Somalia).
The Shabeel North-1 well has reached a total depth of 3945 meters and has encountered metamorphic basement at a depth of 3919 meters. The well penetrated 149 meters of interbedded sands and shales of the Triassic Adigrat Formation with no oil or gas shows and only minor porosity exhibited on electric logs. Accordingly, the well is being plugged. As noted in a previous Puntland drilling update, the Upper Cretaceous Jesomma sands did exhibit porosity and hydrocarbon shows but produced only fresh water on a drill stem test. These sands are similar to the Jesomma sands encountered in the previously drilled Shabeel well in respect of log response and oil and gas shows. It has therefore been determined that additional testing of these zones in the previously drilled Shabeel well is also not warranted.
Lundin Petroleum AB: Johan Sverdrup Appraisal Well 16/2-13S is Successfully Completed Lundin Petroleum AB (Lundin Petroleum) (TSX:LUP)(OMX:LUPE) is pleased to announce that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has completed the drilling of the appraisal well 16/2-13S, in PL501, on the north eastern part of the Johan Sverdrup discovery.
The well is located 2.5 km north east of the Johan Sverdrup discovery well 16/2-6 and 6,5 km south-east of well 16/2-10 in PL265. The main objective of well 16/2-13S was to determine depth to top reservoir, reservoir quality and thickness, and oil water contact in the north eastern part of the field.
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