Oil & Gas News
Dominion Petroleum (LON:DPL) Limited (DPL LN, 6.28p, ? 1.21%) announced that following unconditional approval by the Government of Tanzania, all matters required for the farm-out of Block 7, deepwater Tanzania to Mubadala Oil & Gas Company have been completed. The monies payable by Mubadala in relation to the farm-in, amounting to US$20 million, are due to be paid on or before the Closing Date, which is 15 December 2011. Dominion also announced that it plans to commence the acquisition of 2-D seismic data on Block 7 in early 2012. At least 1,000 square kilometres of data will be acquired further offshore than last year's 3-D survey. The purpose of the survey is to define additional prospects in the deeper water portion of Block 7. The 2D survey is also intended to aid refinement of the partial relinquishment pattern for Block 7 that is required at the end of the first Period of this licence.
Petroneft (LON:PTR) Resources plc (PTR LN 22.0p, ? 10.0%) provided an update on its operations in Licences 61 and 67, Tomsk Oblast, Russian Federation. Highlights: 10 well hydraulic fracturing programme completed with wells now being brought back online and cleaning-up, initial results are encouraging; Additional five well hydraulic fracturing programme planned on Pads 1 and 2 in January / February 2012; Cheremshanskaya No. 3 well testing progressing successfully; Lower Jurassic J14 interval achieves natural flow; Primary Upper Jurassic J1-3 interval may contain 7.0 metres of net oil pay; Arbuzovskoye Development Programme Approved by Russian Government; and Ledovoye exploration well spudded on 5 December.
Silvermere Energy (LON:SLME) plc (SLME LN, 19.0p, ? 1.30%) announced that preparations for production from the I-1 well on its Mustang Island asset located in Kleberg County, Texas waters in the Gulf of Mexico, are on schedule for production to commence at the end of 2011. The operator, Dominion Production Company LLC (the "Operator"), has reported to the Company that platform construction is in its final stages with load-out operations about to get underway in Galveston. Load-out is scheduled to be completed by the 13th December. Once load-out is completed, the loaded work barges will be mobilised to the designated platform location and made ready for installation. The installation programme is expected to take 14 days and will be completed by…
