Gold Oil Plc (GOO) has commenced production operations on the Burdine-1 well in the Putumayo Basin in the south of Colombia.
The well flowed 28o API gravity crude under natural flow with a wellhead pressure drop of 40 psi and at a rate of 52 bopd.
The next step is to clear sufficient access to allow a wire line unit in to examine the down-hole condition and install a pump for a series of tests. The same procedure will be applied to Burdine 4 and Burdine 5 wells over the coming weeks.
In the USA, Sefton Resources (SER) has completed a 3,700 bbl steam injection cycle in the Snow #5 well in the Tapia field and drilled three more wells in December and January in the Tapia field. Sefton has also drilled and cased its first pilot CBM well in its Anderson/Franklin Counties CBM Drilling Programme.
Faroe Petroleum (FPM) has commenced drilling the Grosso prospect in Norway, the first in a three well exploration programme in the Norwegian North Sea. Faroe has a 10% interest in the licence.
Providence Resources (PVR) has commenced new drilling operations on the L99/02-SWD development well at its Singleton Field in the Weald Basin, onshore United Kingdom.
Lansdowne Oil & Gas (LOGP) has received an updated Competent Persons Report covering all of its Celtic Sea Acreage. 331.4 bscf best case prospective gas resources in the three main prospects in the vicinity of the Kinsale Head field. 23.4 MMBbls contingent resources (2C) at the Barryroe oil discovery and the Amergin prospect has a best case potentially recoverable prospective resources of 64.4 MMBOE. All figures ae net to Lansdowne.
UK coalbed methane developer, Island Gas Resources (IGAS) announced that an independent evaluation of its net Contingent Resources has concluded that it has a potentially recoverable resource of up to 733 Bcf (3C), which is equivalent to 116 million barrels of oil.
Range Resources Limited (RRL) said the new Government of Puntland would recognise agreements signed by the previous Government in principle, but they must benefit the people and be within the laws of Puntland.
Forum Energy (FEP) has signed a Gas Sale and Purchase Agreement with Desco, Inc., for the development of the Libertad gas field, in the Phillipines, for power generation.
Egdon Resources (EDR) has sold a 10% interest in the producing Keddington oil field, to a subsidiary of Nautical Petroleum (NPE) for £260,000.
Nighthawk Energy (HAWK) has raised £7 million in a placing of new shares at 20p each. The proceeds will be primarily applied to the continuing development of the the Jolly Ranch Group, located in Colorado and the Buchanan Group and Devon Oilfield waterflood projects located in Missouri and Kansas respectively.
Nighthawk added that it is currently in discussions with a number of parties over the sale of a minority interest in the Jolly Ranch project.
Woburn Energy (WBN) has received the first subscription of £2 million by Cetus Investment Resources Inc. Peter Kitson and Christopher Moore have resigned as Directors while Arif Kemal, Hasan Hashwani, Rustom Kanga and Kamran Ahmed have been appointed as non executive directors.
Caspian Energy (CEK) is cancelling its AIM listing effective March 3, 2009 to reduce ongoing overhead costs in light of the current oil prices and given the recent minimal trading volume in its shares on AIM.
Lewis Clifton has resigned as a non executive Director of Desire Petroleum (DES) following a fine imposed by the FSA over his insider dealings in the company's shares between November 2007 and February 2008.
