Oil & Gas Corporate News

Caza Oil & Gas (CAZA, 6.75p, ? (6.9%)) announced an operational update on its activities in the Abo/Wolfcamp horizontal oil play in New Mexico, USA where it has now drilled four wells. The Bada Bing 23 State #1, the third well in the program, was drilled to a total measured depth of 12,835ft with a horizontal leg of 4,129ft. The well encountered Abo/Wolfcamp dolomitic and limestone formations and a multi-stage fracture stimulation was completed on 23 December 2009. The well continues to flow back completion fluid, but at this stage no hydrocarbons have been evident in the fluid recovered. The fourth well in the Abo/Wolfcamp horizontal play, Moore Cowbell 27 State #1, has been drilled to a total measured depth of 10,083ft with a horizontal leg of 1,197ft. Although core data indicates a 14ft interval in the Abo zone from 8,679-8,693ft to be pay, the horizontal leg of the well did not encounter any producible reservoir zones. Caza and its partner Wise Oil No. 8, Ltd. are planning a vertical completion within the Abo zone. The first two wells, the Moore Bailout 11 State #1 and Lucky Penny 10 State #1 wells continue to produce at rates of approximately 20bopd.

Tullow Oil Plc (TLW, 1278p, ? (3.55%)) announced that the Kasamene-2 appraisal well, located in the Butiaba region of Uganda Block 2, has encountered 39m of net oil pay and 8m of net gas pay within a 132m gross interval. The well was drilled to a total depth of 866m. Well and seismic data indicates the reservoir sands intersected in the Kasamene-2 well are in pressure communication with those at Kasamene-1, which flowed at over 3,500bopd in March 2009. Pressure data has confirmed a single continuous oil column in excess of 70m and a gas column of over 20m. The well will now be suspended as a future producer and this will form Phase 1 of the Albertine Rift Development.

Petrolatina Energy Plc (PELE, 67.5p, ? (0.74%)) announced the appointment of Evolution Securities Limited as Joint Broker, effective immediately. Strand Hanson Limited remains the Company's Nominated Advisor and Joint Broker.

Mining Corporate News

Kefi Minerals Plc (KEFI, 2p, ? (0.0%)) announced it has successfully placed a further 9,375,000 ordinary shares of 1p each ("Ordinary Shares") at a price of 1.6 pence per Ordinary Share to raise £150,000 before expenses, subject to…

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