Tullow Oil, Keep a Close Eye Out Ref Namibia 3D Seismic Results as the Company Commences Seismic Programme in the Walvis Basin

Tullow Oil, the highly respected African focused multinational oil and gas co, will acquire about 3000 square kilometres of seismic, according to joint venture partner Pancontinental Oil & Gas. Another 1000 kilometres of 2D seismic will then be shot, with the whole process expected  to take up to 120 days.   Tullow will use the seismic acquisition vessel Polarcus Asima. The company farmed into the permit late last year and has since found a number of geological leads which will be shored up by the survey.   Pancontinental holds a 30% free-carried interest through the surveys and one optional well.
Tullow holds a 65% interest, with the remaining 5% held by Paragon Oil & Gas.

LENI GAS & OIL PLC (LGO) Secures Game Changing Licence Approval for the Drilling of 30 New Wells on Its 2P 7.2 Million Barrel Reserve, 100% Owned Onshore Goudron Oilfield, Trinidad

Friday 17th January

LENI GAS & OIL PLC (LGO) Secures Game Changing Licence Approval for the Drilling of 30 New Wells on Its 2P 7.2 Million Barrel Reserve, 100% Owned Onshore Goudron Oilfield, Trinidad

In a landmark announcement, London AIM Listed oil company Leni Gas & Oil (LGO:AIM) today informed the market that the Environmental Management Agency of Trinidad and Tobago had confirmed that the Company’s application for a Certificate of Environmental Compliance (“CEC”) for the planned drilling campaign of 30 new wells at its 100% owned Goudron Field in Trinidad had been approved.  

This announcement is a game changer for LGO and marks a major boost for Trinidad’s oil production sector, which is currently enjoying a resurgence in production and investment interest.  LGO announced back on the 23^rd December 2013, that it had raised US$4 million to accelerate its production activities in Trinidad.

The investment will kick off with new wells on Goudron targeting known reserves which are expected to produce around 60 barrels of oil per day (bopd) each, taking LGO’s Trinidad sales production capacity alone to around 2,000 bopd. The company before this announcement was throwing off $300,000 in post tax profits per month for the group, this new production capacity will only add to what is already a well run and financially sound oil production company.

LGO is seen as a darling of Trinidad’s current oil production renaissance. In a vote of confidence, Minister of Energy and Energy Affairs Senator the Honourable Kevin Ramnarine visited the Goudron oilfield in Guayaguayare back in October 2013, accompanied by the President of Petrotrin, Khalid Hassanali and British High Commissioner, His Excellency Arthur Snell, who were there to take a look at LGO’s development of Goudron, where the company has been steadfastly transforming the field, by reactivating 60 of the 154 wells held on its acreage.

With a great financial, technical and regulatory platform with which to accelerate its production capacity in Trinidad, LGO is now perfectly positioned to deliver some positive financial results.

Investors Take Note:    This latest news by LGO should see investors flooding into the stock, which is now significantly under valued, when one looks at the overwhelming production upside in Trinidad, the free cashflow the company is throwing off, the fact it is fully funded for development and priced at under 1p with a market cap of just £17 million.

Extensive news flow is sure to follow out of Trinidad, with ten pump jacks expected to arrive on site this month with positive production numbers expected to follow, LGO stock at this price has to be the bargain of the year.

UK Oil & Gas Investments (UKOG:AIM) Fast Track UK Proven Oil & Gas Production Acquisitions Securing Further Production Potential with Farm In Agreements Announced Today in the East Midlands Petroleum Province

UKOG agrees to buy 10% interests in Eakring-Dukes Wood and Kirklington oil fields in the UK

UK Oil & Gas Plc (AIM: UKOG) announced today that it has reached agreement to acquire Angus Energy Eakring Development Limited ("Eakring") and Angus Energy Kirklington Development Limited ("Kirklington") which in turn own 10% interests in onshore UK Petroleum Exploration and Development Licences ("PEDLs") PEDL 118 and PEDL 203 located in Nottinghamshire in the East Midlands Petroleum Province. The operators of these PEDL's is Egdon Resources Plc ("Egdon"). UKOG has the rights to increase its ownership of PEDL 118 to 20% by paying 30% of the cost of the next well to be drilled on the licence.

The total aggregate consideration for Eakring-Dukes Wood and Kirklington is £290,000, comprising a cash sum of £140,000 and the issue of 18,750,000 ordinary shares to a market value of £150,000 (equivalent to a price of 0.8p per share) and will be escrowed for a period of 3 months once issued.  The deal is expected to close in full within 30 days.

Commenting on the acquisition UKOG's Chairman David Lenigas commented:

"UKOG are looking forward to working on these exciting oil fields with Egdon, the operators of the Eakring-Dukes Wood and Kirklington oil fields, who are evaluating a short -term restart of production and a long-term growth plan for the fields."

"This transaction is our second UK onshore oil investment and provides the Company exposure to two further conventional oil plays where we see significant upside potential going forward at a time of growing investment  interest in the UK's onshore hydrocarbon sector by International Oil and Gas companies."

About PEDL 118 and PEDL 203:

Licence PEDL 118 contains the Eakring-Dukes Wood abandoned oil field which produced from a number of stacked shallow sandstone reservoirs of Carboniferous age from 1940 until 1966.  The field was discovered in 1939 and extensively drilled and produced during the Second World War, where production peaked at 1600 barrels of oil per day in 1941. A water flood was initiated in 1947 and total production at abandonment in 1966 was 6.5 million barrels of oil (mmbo) out of mapped 25.6 mmbo in place.  However, extensive studies by BP during the 1980's indicated that the water flood resulted in some reservoirs being prematurely "killed" and unswept.  Recognition of the potential to rejuvenate the field to take advantage of increased oil price, improved technology and the identification of undrilled and undrained parts of the field led to the drilling of a new well, Dukes Wood-1, in 2010 and  which was completed as a producer from the Ashover Grit reservoir.  A dual-completion allows water injection into the sub-Alton Crawshaw sandstone.

Licence PEDL 203 contains the Kirklington oil field, discovered by BP in 1985 and which produced oil from the Sub-Alton Crawshaw reservoir between 1991 and 1998 and from the Chatsworth Grit reservoir from 2003 to 2004.  Production was restored in 2009 and a new sidetrack well drilled in 2010 and completed for production from the Chatsworth Grit reservoir.

The Dukes Wood and Kirklington oil fields are operated as a joint development by the operator, Egdon Resources U.K. Limited, to optimise costs and returns.  The Dukes Wood-1 and Kikrlington-3Z wells are currently shut-in. Potential new drilling locations in areas of the Dukes Wood/Eakring field not previously produced (e.g. Eakring North Lead) and locations where producible oil remains are under evaluation with a view to agreeing a short -term restart of production and a long-term growth plan for the field.  

Following completion, the interests in the licences will be as follows:

PEDL 118:

Egdon Resources U.K. Limited                                                           50% (Operator)

Terrain Energy Limited                                                                       25%

Nautical Petroleum AG (Now owned by Cairn Energy Plc)          15%

UK Oil & Gas Investments Plc                                                           10%

PEDL 203:

Egdon Resources U.K. Limited                                                           50% (Operator)

Terrain Energy Limited                                                                       25%

Nautical Petroleum AG (Now owned by Cairn Energy Plc)          15%

UK Oil & Gas Investments Plc                                                           10%

Transaction details:

The aggregate consideration of £290,000 for the acquisitions of the companies that own the 10% interests in Eakring-Dukes Wood and Kirklington shall be paid as follows:

1.             UKOG will immediate pay £40,000 on account.

2.             On completion of all necessary legal documentation within 30 days, UKOG will make a further payment of £100,000 and issue 18,750,000 ordinary shares in UKOG to a market value of £150,000. These shares are to be escrowed for a period of 3 months.

Note: The technical aspects of this news release have been taken from public information in relation to the Licence interests.

Research Report Now Released on UK Oil and Gas Investments Plc

Research Report Now Released on UK Oil and Gas Investments Plc
Please see www.brandpetrogas.com

Confidence Building in the UK's Onshore Weald Basin Petroleum System as Doriemus Plc (AIM: DOR) take a 7.5% Stake in Horse Hill

Monday 13 January 2014



Doriemus Plc (AIM: DOR) the conventional UK oil and gas developer announced today that it would take a 7.5% stake in the Horse Hill project, at PEDL 137 in the Weald Basin where the fist well is expected to be spud in Q1 2014

Importantly, Investors should recognise


1, Doriemus is a conventional onshore UK developer / producer

2, If investors had invested  in Doriemus three months ago, they would have enjoyed a 283% return so far

3, The Horse Hill prospect sits in the middle of an active petroleum system and is highly prospective

The exploration well will target

***Stacked oil and gas targets in the proposed 2,646 m (5,680 ft.) well.

***Upside potential of an estimated 671 million stock barrels ("MMSTB") oil in
place with an estimated total mean recoverable prospective resources of 87MMSTB (Source: Magellan Petroleum (UK) Limited)

***Additional prospectivity of 456 Bcf gas in place (mean 164+ Bcf recoverable
prospective resource) in the proposed Triassic gas play (Source: Magellan
Petroleum (UK) Limited)


Deal Details...................

The total consideration payable by Doriemus for the initial 7.5% is £450,000, mostly comprising monies to be used for drilling. The consideration will be satisfied by a combination of existing cash balances andfunding facilities already in place. Details of the transaction are given below.
* The target for the Horse Hill Prospect are stacked oil and gas targets in
the proposed 2,646 m (5,680 ft.) well.
* Upside potential of an estimated 671 million stock barrels ("MMSTB") oil in
place with an estimated total mean recoverable prospective resources of 87
MMSTB (Source: Magellan Petroleum (UK) Limited)
* Additional prospectivity of 456 Bcf gas in place (mean 164+ Bcf recoverable
prospective resource) in the proposed Triassic gas play (Source: Magellan
Petroleum (UK) Limited)
* The first well is expected to spud in Q2 2014.
Donald Strang, the Company's Chairman, commented:
"This Horse Hill Prospect is immediately adjacent and to the east of the
Company's producing Brockham Field and we look forward to participating in this
exciting conventional oil and gas play with tremendous potential upside
alongside other notable investors."
About Horse Hill Prospect:
The Horse Hill Petroleum Exploration and Development Licence No. 137 (PEDL 137)
is located in Surrey.
Magellan Petroleum (UK) Limited, a subsidiary of NASDAQ-listed Magellan
Petroleum Corporation ("Magellan"), currently owns 100% of the 99.29 km2
(24,525 acre)PEDL 137 ("Horse Hill") and has agreements with HHDL for HHDL to
earn a direct 65% participating interest and operatorship in the Licence, under
certain contractual conditions, by the drilling of the proposed 2,646 m (8,680
ft) Horse Hill-1 well by the end of August 2014.
south-west quadrant of PEDL 137. It is a tilted horst structure, similar to the
Palmers Wood oil field structure which lies approximately 20 km to the
north-east. The Collendean Farm-1 well was drilled by ESSO in 1964 on the
north-eastern edge of the Horse Hill structure and found good oil shows. Recent
seismic re-interpretation shows the Collendean Farm-1 well was drilled on the
wrong side of a significant fault.
The Horse Hill Prospect could contain up to an estimated 671 MMSTB oil in
place, the majority in the Lower Portland sandstone which alone has an
estimated upside oil in place potential of 284 MMSTB. The Collendean Farm-1
well confirms reservoir presence with porosity of 27% and a net: gross of 0.95,
with an expected oil recovery rate in the region of 30%. The reservoirs are
sealed by the Purbeck anhydrite and calcareous mudstones. Potential probably
also exists in the Corallian sands sealed by the overlying Kimmeridge Clay.
Estimated total mean recoverable prospective resources of oil for the Portland
sandstone, Corallian sandstone and Great Oolite limestone are 87 MMSTB.
Importantly, the Horse Hill Prospect is considered to have additional
prospectivity of 456 Bcf gas in place (Mean 164+ Bcf recoverable prospective
resource) in the proposed Triassic gas play.The Triassic sandstone is the
expected reservoir with an anticipated porosity of in the order of 18%, net:
gross of 0.58 and recovery factor of up to 70%. The stacked play potential of
this prospect is, therefore, considered substantial by the Board of Doriemus.
The Horse Hill Prospect OOIP and OGIP and prospective resources are summarised
in Table 1.
Table 1: Horse Hill Prospect estimated OOIP, OGIP and Prospective Resources.
Target Reservoir OOIP OOIP Prospective
Resources
Oil Upside Potential Mean (MMSTB)
(MMSTB) Mean (MMSTB )
Upper Portland 116 57 17
Sandstone
Lower Portland 284 147 44
Sandstone
Corallian Sandstone 67 33 10
Greater Oolite 204 104 16
Limestone
Total Oil 671 341 87
Target Reservoir OGIP OGIP Prospective
Resources
Gas Upside Potential Mean (Bcf)
(Bcf) Mean (Bcf)
Triassic Sandstone 456 234 164
Competent Person's Statement:
The information contained in this report has been prepared by Magellan
Petroleum (UK) Limited, and has been reviewed and signed off by Mr MervynCowie
BSc (Geology & Mineralogy), who has over 35 years' experience as a geologist.
Mr Cowie is a Fellow of the Australian Institute of Mining and Metallurgy and
is a competent person under Australian Stock Exchange Rules. The technical
disclosure in this report complies with the SPE-PRMS standard.
Transaction details:
The consideration due by Doriemusfor the initial 7.5% interest in HHDL shall be
paid as follows:
1. Doriemus will immediately pay HHDL £10,000 towards the cost of the Horse
Hill1 Well.
2. On completion of all necessary legal documentation within 30 days, Doriemus
will make a further payment of £50,000 to HHDL towards the cost of the
Well.
3. Doriemus shall bear a further total sum of £390,000 of cash calls for the
drilling of the Well to be drilled on the Horse Hill Licence.
4. Doriemus will have the exclusive right, at Doriemus's sole discretion, to
double its interest to a 15% participating interest in HHDL by advising
HHDL in writing of its intention to do so by 31 January 2014 and paying an
immediate further £50,000 to HHDL towards the cost of the Well on this
advice and guaranteeing to bear a further total sum of £400,000 of cash
calls for the drilling of the Well.
Glossary:
MMSTB - million stock barrels
Bcf - billion cubic feet
OOIP - Original Oil in Place
OGIP - Original Gas in Place
Prospective Resources - Prospective resources are estimated volumes associated
with undiscovered accumulations. These represent quantities of petroleum which
are estimated, as of a given date, to be potentially recoverable from oil and
gas deposits identified on the basis of indirect evidence but which have not
yet been drilled. This class represents a higher risk than contingent resources
since the risk of discovery is also added. For prospective resources to become
classified as contingent resources, hydrocarbons must be discovered, the
accumulations must be further evaluated and an estimate of quantities that
would be recoverable under appropriate development projects prepared.





I really really like this acreage and really do think both DOR and UKOG are onto something. Magellan, part of NASDAQ-°©‐listed Magellan Petroleum Corp who initially took up the PEDL 137 licence are pretty smooth operators themselves with a great track record in oil and gas discovery and development.



DOR made their first investment in the UK onshore oil sector on the 18th October when they farmed into  Angus Energy Weald Basin No. 3 Limited to gain access to the Lidsey production Oilfield

Details are listed below

UK Oil and Gas Investments (UKOG:AIM) have also farmed in to Horse Hill (www.ukogplc.com)



DOR will  acquire an initial 7.5% interest in Horse Hill Development Ltd ("HHDL"), a special purpose company that holds the rights to a 65% participating interest and operatorship in the highly prospective UK

Doriemus also has the right under the BTS, at its sole discretion, to increase its ownership of HHDL to 15%

Highlights:

The newly defined Horse Hill prospect covers an area of up to 16 km2 in the

UK Oil & Gas Investments Plc (UKOG:AIM) New Research Note Just Released

AIM Listed UK Oil & Gas Investments Plc (UKOG) the investor and developer of UK domestic conventional oil and gas assets, has just uploaded a new research note published by XCAP

See the website for details at:

http://ukogplc.com/docs/default-source/default-document-library/uk-oil-gas---flash-note-31122013.pdf?sfvrsn=0

It follows UKOG's announcement of the 20th December 2013 concerning their farm in of the Horse Hill Project, a UK domestic Oil & Gas field located in the Weald Basin.

UKOG will buy a 7.5% interest in Horse Hill Development Ltd ("HHDL"), a special purpose company, that has the rights to a 65% participating interest and operatorship, in the high prospective UK onshore Horse Hill Oil Field in the Weald Basin. 

This year HHDL plans to drill a well to test a number of conventional stacked oil and gas targets which the board believes could contain up to an estimated 671 million stock barrels ("MMSTB") oil in place with an estimated total mean recoverable prospective resources of 87 MMSTB and additional prospectivity of 456 Bcf gas in place (Mean 164+ Bcf recoverable prospective resource) in the proposed Triassic gas play.

Magellan Petroleum Ltd MPET:NAQ owns 100% interest in Horse Hill Petroleum Exploration and Development Licence No. 137 “PEDL 137”, and HDDL has agreed with Magellan to acquire 65% interest of the field under certain contractual conditions, including the drilling of a 2,646m (8,680ft) Horse Hill 1 well by the end of August 2014. 

The Full RNS can be seen at 
http://irservices.netbuilder.com/ir/ukog/newsArticle.php?id=1088362&ST=UKOG

UKOG closed Friday at 0.825 p, market cap is circa 6.6 Million GBP

UK Onshore Oil / Gas Production, Overlooked

We are just researching the UK onshore oil and gas production market and will blog some research later this month. We think investors have overlooked this market. Over the last 12 months there have been some pretty solid performers, some over the whole of the last 12 months and some who have seen decent stock rises for decent periods of the year before profit taking by investors has crept in.

In particular I am looking at:

IGas Energy Plc IGAS:AIM
Doriemus Plc DOR:AIM
Magellan Petroleum Corp MPET:NAQ
Union Jack Oil Plc UJO:AIM
UK Oil & Gas Investments UKOG:AIM
Alkane Energy Plc ALK:AIM
Trap Oil Group Plc TRAP:AIM
Egdon Resources Plc EDR:AIM


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