Shares in Providence Resources (PVR), San Leon Energy (SLE) and Lansdowne Oil and Gas (LOGP) were higher on Monday as progress was made with the group's Barryroe project.
Providence said it has taken delivery of the GSF Arctic III semi-submersible drilling rig for the upcoming appraisal drilling programme at Barryroe.
After coming under contract on 5 November, the rig is currently being mobilised to Irish waters from the North Sea.
Providence holds a 50% interest in the Barryroe licence (SEL 1/11) and operates on behalf of its partners - Lansdowne, which holds 20% and also San Leon Energy, which has a 30% stake.
Drilling is expected to commence within the next fortnight.
The group moved into the area after the Irish energy ministry provided a standard exploration licence last month.
Licence 1/11, which has been awarded for a period of up to six years and is split into two three-year phases, is a successor to licensing option 08/1. The area covered by the licence has been increased by around 9%, equivalent to 25 square kilometres, to cover additional acreage with identified resource potential.
An upcoming well, the 48/24-J well, which is planned for mid-November of this year, is set to demonstrate higher flow rates through the use of new technologies.
http://www.iii.co.uk/articles/20663/lansdowne-oil-gas-kick-drilling-barryroe
Monday, November 7, 2011
Thursday, July 7, 2011
Circle Star Energy Acquires Oil & Gas Production Assets in Texas
HOUSTON, TX, Jul 06, 2011 (MARKETWIRE via COMTEX) -- Circle Star Energy Corp. CRCL +12.90% (the "Company") is pleased to announce that it has acquired interests in certain oil and gas producing assets in Texas.
The Company has acquired mineral interests, overriding royalty interests and non-operated working interests in a set of producing and non-producing oil and gas assets throughout Texas comprised of over 30,000 gross acres. The acquisition includes production from the Eagle Ford Shale, Austin Chalk, Wolfcamp, Woodbine and Deep Bossier formations. EnCana Oil & Gas (USA), Inc., Chesapeake Energy, Newfield Exploration Company, CML Exploration, LLC and Petromax Operating are operators of the respective assets. Revenue from the properties averaged more than $125,000 per month from January to May 2011.
In related news, the Company welcomes Mr. S. Jeffrey Johnson to the board of directors where he will assume the role of Non-Executive Chairman. Mr. Johnson has over 22 years of experience in the oil & gas business. Most recently, Mr. Johnson served as the Chairman of the Board and Chief Executive Officer of Cano Petroleum, Inc. ("Cano"), positions he held from June 2004 to February 2011 and May 2004 to February 20011, respectively. Prior to Cano, Mr. Johnson owned and operated 2 private oil companies from 1993-2003 and was a Vice President of Touchstone Capital from 1990-1993.
Further details regarding the Company, its appointments, finances and agreements are filed as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.
Notice Regarding Forward-Looking Statements This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new business opportunities and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
http://www.marketwatch.com/story/circle-star-energy-acquires-oil-gas-production-assets-in-texas-2011-07-06?reflink=MW_news_stmp
Wednesday, March 30, 2011
Fallin calls for EPA to ease oil, gas regulation
Gov. Mary Fallin told oil and gas producers Tuesday that Environmental Protection Agency regulations are hurting the industry in Oklahoma and she would do everything she could to fight what many see as the agency's overbearing oversight of hydraulic fracturing of wells and regional haze.
"You have my commitment . . . to do everything I can to further cement Oklahoma's position as an energy leader," the Republican governor said during a speech at an energy conference at the University of Oklahoma.
Fallin told The Associated Press she's for "fair" and "reasonable" EPA regulations but fears the federal agency's current efforts will harm the oil and gas industry and the manufacturing sector in Oklahoma. She said she's working with Attorney General Scott Pruitt "to see what we need to do to let Oklahoma's voice be heard."
Pruitt has said he is considering legal action against the EPA over the regional haze regulations, which the federal agency has said are needed to control greenhouse gases from power plants, refineries and other industrial facilities. EPA officials say the scientific consensus is that such gases cause global warming, although some in Congress - most notably Sen. Jim Inhofe, R-Okla. - have disputed that assertion.
Fallin said she has sent letters to the EPA and President Barack Obama's administration expressing her concern.
"We certainly want to protect the public from things that might harm the environment, but it has to be fair and balanced," she told the AP.
Those speaking at the conference included top officials from two prominent Oklahoma energy companies - Larry Nichols, the co-founder and executive chairman of Oklahoma City-based Devon Energy Corp. ( DVN - news - people ), and Harold Hamm, the founder and CEO of Enid-based Continental Resources ( CLR - news - people ) Inc.
Nichols was particularly outspoken about critics of hydraulic fracturing, or fracking, a longtime drilling technique in which massive amounts of water, sand and chemicals are injected underground to crack rock and force natural gas to the surface. Some environmentalists say the chemicals used in the process could contaminate ground water used for drinking. The EPA is studying the issue.
Hamm said a good U.S. energy policy would protect the industry by helping to build jobs and develop the technology needed to increase domestic oil and gas production.
The key aspect of such a policy, he said, would be "not to pick one fuel over another. Let the marketplace decide. . . . We are in a free-market society and certainly it will decide which fuel is the best. For far too many years, oil has been thrown under the bus . . . as being insignificant. Certainly it is not today."
Nichols also advocated competition among the oil, natural gas, coal and other fuel industries.
"Whichever one can deliver the consumers of this country the cheapest, most reliable, made-in-the-U.S. fuel, let them win," he said, "because that means we will be competitive around the world in being able to build plants and factories here, which we can't now, because we're driving our costs up so much."
University president David Boren, a former Democratic U.S. senator, said he often received criticism because of his stance supporting the oil and natural gas industry, but he made no apologies for it. Boren also supports the development of renewable sources of energy and the university he oversees will run entirely on wind energy by 2013.
"The kind of policy that will bring us energy independence, of course it needs to be comprehensive," Boren said. "Of course, there need to be incentives for all forms of energy production, including renewable energy production. But more than anything else, the government just needs to get out of the way of the domestic oil and gas industry and let them finish what they're doing so well."
http://www.forbes.com/feeds/ap/2011/03/30/business-energy-us-ok-energy-conference_8381729.html
"You have my commitment . . . to do everything I can to further cement Oklahoma's position as an energy leader," the Republican governor said during a speech at an energy conference at the University of Oklahoma.
Fallin told The Associated Press she's for "fair" and "reasonable" EPA regulations but fears the federal agency's current efforts will harm the oil and gas industry and the manufacturing sector in Oklahoma. She said she's working with Attorney General Scott Pruitt "to see what we need to do to let Oklahoma's voice be heard."
Pruitt has said he is considering legal action against the EPA over the regional haze regulations, which the federal agency has said are needed to control greenhouse gases from power plants, refineries and other industrial facilities. EPA officials say the scientific consensus is that such gases cause global warming, although some in Congress - most notably Sen. Jim Inhofe, R-Okla. - have disputed that assertion.
Fallin said she has sent letters to the EPA and President Barack Obama's administration expressing her concern.
"We certainly want to protect the public from things that might harm the environment, but it has to be fair and balanced," she told the AP.
Those speaking at the conference included top officials from two prominent Oklahoma energy companies - Larry Nichols, the co-founder and executive chairman of Oklahoma City-based Devon Energy Corp. ( DVN - news - people ), and Harold Hamm, the founder and CEO of Enid-based Continental Resources ( CLR - news - people ) Inc.
Nichols was particularly outspoken about critics of hydraulic fracturing, or fracking, a longtime drilling technique in which massive amounts of water, sand and chemicals are injected underground to crack rock and force natural gas to the surface. Some environmentalists say the chemicals used in the process could contaminate ground water used for drinking. The EPA is studying the issue.
Hamm said a good U.S. energy policy would protect the industry by helping to build jobs and develop the technology needed to increase domestic oil and gas production.
The key aspect of such a policy, he said, would be "not to pick one fuel over another. Let the marketplace decide. . . . We are in a free-market society and certainly it will decide which fuel is the best. For far too many years, oil has been thrown under the bus . . . as being insignificant. Certainly it is not today."
Nichols also advocated competition among the oil, natural gas, coal and other fuel industries.
"Whichever one can deliver the consumers of this country the cheapest, most reliable, made-in-the-U.S. fuel, let them win," he said, "because that means we will be competitive around the world in being able to build plants and factories here, which we can't now, because we're driving our costs up so much."
University president David Boren, a former Democratic U.S. senator, said he often received criticism because of his stance supporting the oil and natural gas industry, but he made no apologies for it. Boren also supports the development of renewable sources of energy and the university he oversees will run entirely on wind energy by 2013.
"The kind of policy that will bring us energy independence, of course it needs to be comprehensive," Boren said. "Of course, there need to be incentives for all forms of energy production, including renewable energy production. But more than anything else, the government just needs to get out of the way of the domestic oil and gas industry and let them finish what they're doing so well."
http://www.forbes.com/feeds/ap/2011/03/30/business-energy-us-ok-energy-conference_8381729.html
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