Oil & Gas Corporate News
Salamander Energy Plc (LON:SMDR) (SMDR, 234p, ? (1.61%)) announces that further to the announcement of 11 November 2010 it has completed the acquisition of Elnusa Bangkanai Energy Ltd.
Europa Oil & Gas (EOG, 18p, ? (5.88%)) announced that the workover on West Firsby-6 in the East Midlands is now complete and the well is back on jet pumped production. It may take a short time for reservoir drawdown, and thus production, to reach a stable maximum. All 5 of Europa's production wells are onstream. A key element of the company's continuing revenue growth strategy is the drilling of a new production well on West Firsby which, as previously announced, is planned to commence in December.
Oilex Ltd (LON:OEX) (OEX, 15.5p, ? (0.0%)) announced that the WA-388-P Joint Venture has entered into a farm in agreement with Apache Northwest Pty Ltd. The WA-388-P permit is located north of the Pluto, Wheatstone, Gorgon & North West Shelf fields, offshore Western Australia. The WA-388-P permit contains a portfolio of play types and seven prospects have been identified ranging in potential size from 0.3 to 2.8Tcf of prospective gas resource (recoverable best estimate, 100% basis). Seismic amplitude anomalies evident in the 3D seismic data are likely Direct Hydrocarbon Indicators, suggesting the presence of gas by analogy with nearby fields and discoveries. Apache will obtain a 40% interest in the WA-388-P permit by paying 100% of the first exploration well (up to an agreed cap) and 100% of the well test costs (up to an agreed cap) if the Joint Venture approves testing the well. Apache will replace Oilex as the permit operator. Apache has contracted the Stena Clyde drilling rig to drill the first exploration well. The well will target a prospect in the Intra Mungaroo channel zone and is expected to spud in early 2011.
Petrolatina Energy Plc (LON:PELE) (PELE, 40.25p, ? (0.62%)) provided an operations update on its activities in Colombia. Six wells were drilled in the year to date and all commitment wells required to be drilled under the terms of the Tisquirama licence extension have now been completed; hence future wells will therefore generate a higher proportion of revenue for PetroLatina. Gross production reached 562,180bbl…
