Nov 01
Overview:

Formerly known as Taghmen Energy, the Petrolatina Energy PLC Company was founded in 2004. It is a UK-based energy firm which conducts exploration and drilling operations in Colombia and Guatemala. The firm’s main goal is to build profitable publicly owned oil and gas companies in South America. The firm also strives to be environmentally and socially responsible by using drilling and exploration methods which pose no known threats to the people or animals living in the area.

Basic company information: LSE-AIM Symbol: PELE

Officers:

CEO: Juan Carlos Rodriguez
Executive Vice President for Corporate Affairs: Pawan Sharma

Holdings and interests: Petrolatina major holdings include Colombia’s RZA pipeline and a 1/5th stake in several wells and licensing areas inside Guatemala. The firm also owns operations rights for several claims located near Colombia’s Middle Magdalena basin.

Recent performance:
2010 2nd Quarter revenues :£5.97 million
2009 revenues: £8.63 million
2008 revenues: £4.85 million

Recent events: October 2010:

Petrolatina announces plans to finalise contracts to explore and develop the firm’s holdings along block VMM28 near Colombia’s Middle Magdalena basin. These contracts extend Petrolatina’s right to explore and develop its holdings near its La Paloma field holdings.

September 2010: Petrolatina reports that its average gross production rate rose in the 2nd quarter by more than 60% to nearly 1,700 barrels per day. The firm also reported a two-fold increase in gross profits to over £4 million and an 11% increase in pre-tax revenues to over £ 6 million. Furthermore, the firm was able to raise over £15 million in new equity from shareholders, management and other entities.

July 2010: Petrolatina finishes initial testing on their Colon-3 development oil well within its La Paloma field operations. The tests show several potential oil deposits which might be profitable to the firm.

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Nov 01
Timan Oil and Gas PLC, based in London, is an established oil and gas provider focused geographically in the Timan-Pechora regions of Western Russia and the Caspian basin. This particular company takes deep pride in their relentless oil and gas reserve exploration, development, and production efforts. Ultimately, Timan Oil and Gas PLC aspires to distinguish the company as a leading independent oil and gas producer.

Currently, Timan Oil and Gas PLC has an open offer to obtain 3 additional oil exploration and production licenses in the Komi Republic. This dynamic company already owns 100% of the interest in both the Nizhnechutinskoye and the Khudayelskoye fields. The specific geographic area encompassed within the Nizhnechutinskoye and Khudayelskoye perimeters includes nearly 350,000 square kilometers of the Timan-Pechora Basin.

Timan Oil and Gas PLC possesses a formidable advantage in comparison to it’s competitors in that the Nizhnechutinskoye field is comparably shallow. Therefore, Timan Oil and Gas PLC is provided with the rare opportunity to obtain oil in this geographic area by being required to delve under ground surface by a mere 1/20 of a kilometer. Traditional fields necessitate an average drill of about 22 to 24 kilometers in vertical length. Logically, the reduced time necessary for the oil accessing process provided by the shallow reserves unique to this particular region contributes to ultimately expedite Timan’s overall oil production.

The Nizhnechutinskoye field claims a fragile geographic location in close proximity to infrastructure including roads, major pipelines, railways and the local town of Ukhta. The unique location of this field makes accessing reserve oil in this area a very sensitive and intimately tuned process. Timan Oil and Gas PLC has plans to stimulate the shallow oil reserves in the Nizhnechutinskoye field by way of conventional water injection. Ultimately, the goal of this project is to increase the natural flow of oil from shallow reserves which lack sufficient reservoir pressure to encourage oil to flow at increased rates.

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Nov 01

Leni Gas and Oil Plc, based in London, is an international hydrocarbon exploration, development, and production company. The company holds assets in Spain, Trinidad, Malta and the US Gulf of Mexico. Leni Gas and Oil was incorporated in 2006 and trades on the Alternative Investment Market of the London Stock Exchange.

Corporate Strategy

The company’s strategy is to acquire proven reserves and enhance production in established fields, concentrating in low-risk countries. The directors have a wide variety of experience and expertise in the oil and natural gas fields, and are working to leverage their knowledge to identify investment opportunities in proven reserve areas as well as underexploited areas which can benefit from an injection of cutting-edge technology and techniques.

LGO Assets

Leni Gas and Oil holds interests ranging from 10 to 100 per cent in various projects in four main areas.

In the US Gulf of Mexico and Trinidad, LGO is partnered with other corporations in development of new oil and natural gas sites in the Gulf, as well as expanding the Icacos operation in Trinidad to reach deeper reserves.

In the area off Malta, LGO owns a 10% interest in an offshore site close to established hydrocarbron reserves. They are evaluating the area for future production.

In Spain, LGO owns 100% of the Ayoluengo oil field, which has been the largest site of Spanish oil production since the 1960s. LGO seeks to enhance current production with updated techniques, taking advantage of facilities already in place from previous operations.

Leni Gas and Oil suffered losses in 2009 related to its relinquishment of Hungarian assets which had proved unprofitable, but has stepped up development of its other assets and expects to accelerate production in its three currently-producing areas while continuing to develop the Malta holding.

Shares of Leni Gas and Oil Plc (LGO) are listed on the London Stock Exchange’s Alternative Investment Market and were at 3.29 p as of 29 October 2010.

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Nov 01

Bowleven Oil and Gas Plc is an oil and natural gas exploration and production company incorporated in the United Kingdom and operating in Cameroon and Gabon. The aim of the company is to focus on Africa, particularly the Gulf of Guinea, investing in exploration and development of hydrocarbon resources. Bowleven has been trading on the Alternative Investment Market of the London Stock Exchange since 2004.

Assets

Bowleven holds assets in Gabon and Cameroon. Both nations are stable and comparatively developed, and both have substantial onshore and offshore hydrocarbon reserves.

In Cameroon, Bowleven has three blocks in the offshore Etinde area, covering about 2,314 square kilometres and ranging from shallow waters to 70 metres in depth. Additionally, Bowleven holds two blocks in the onshore Bomono Permit area. Numerous surface oil seeps have been observed in this area but it remains almost completely unexplored by modern technology.

In Gabon, the company has an offshore East Orovinyare block, a known oil field located approximately 6 miles offshore. Inland, Bowleven holds a substantial Epaemeno block. The area was surveyed in the 1980s and seismic data is being re-analyzed with up-to-date analysis. The block is promising as it lies on trend with productive fields.

Latest Developments

Bowleven began the year fully funded for all 2010 projected operations. The main focus for 2010 has been moving forward toward monetization of the Etinde areas, with a major exploratory drilling programme beginning in March. In August 2010 Bowleven announced that tests at its IE-3 well in Entinde had shown multiple gas condensate and oil bearing sands, increasing the likelihood of successful commercial development of the area.

Shares of Bowleven Oil and Gas (BLVN) are listed on the London Stock Exchange’s Alternative Investment Market and were at 168.75 p as of 29 October 2010.

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Oct 28

Black Rock Oil and Gas changed its company name to Woburn Energy in January of 2009. The company is a gas and oil exploration company that searches for areas rich in gas and oil that can quickly be developed. Woburn Energy’s stated mission is to “acquire low risk opportunities with a high chance of early success leading to production” in low-risk countries in both Europe and South America. Only countries with a stabile government are considered for exploration and development. Demand for the oil and gas produced by Black Rock is based on U.S. and U.K. consumption.

The company previously held acreage in Ireland and Australia but recently gave up on those areas to focus efforts on deposits in the United Kingdom North Sea and Colombia. Colombia currently shows the most potential for development. In Colombia, The Las Quinchas block contains an estimated 5-10 million barrels of recoverable oil. Testing in the Acacia Este exploration prospect has indicated that long-term production could potentially produce 40 barrels of heavy oil a day. In the UK North Sea, Woburn Energy holds a 15% stake in a hydrocarbon-rich gas field in Monterey. This field contains an estimated 165 billion cubic feet of recoverable natural gas and is undeveloped as of yet.

The board of directors is made up of 6 members. Kamran Ahmed, Rustom Bejon Kanga, Hasan Hashwani, Anthony Brian Baldry and Arif Kemal are non-executive directors. The executive managing director is Dr. John Malcolm Cubitt. Dr. Cubitt has over 27 years experience in the natural resources exploration industry and is a registered Chartered Geologist. He has both a BS and a PhD in geology.

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Jun 10

Company Overview:

Ascent Resources Plc, an European focused, independent oil and gas company, has a balanced portfolio of projects ranging from revenue generating production projects, low-risk development and redevelopment projects, to high-return appraisal and exploration projects. Headquartered in London, the company conducts its operations primarily onshore in five western and central European countries: Italy, Switzerland, The Netherlands, Hungary, and Slovenia.

The European onshore focus strategy has provided the company with a range of low-cost oil and gas projects, well-developed infrastructure, and a stable legal and political framework. Doing business right here in Europe, the company, an operator for most of its projects, is able to utilise local operating entities maximising their expertise.

Shares in the company (AST) are quoted in LSE’s AIM sub-market and were at 3.63p as of 8 June 2010. Although priority is now on reserve growth over production, 2010 is expected to be cash flow positive. The company relies on its highly experienced management team to provide a solid platform to grow and generate value for shareholders.

Operations Breakdown:

Ascent Resources uses a combination of debt and equity to fund its development projects, but farms out exploration projects to mitigate risk. The company currently has six development and redevelopment projects, four appraisal projects, and five exploration projects. The utilising modern exploration and development techniques of 3-D seismic has provided 100% success in the company’s last 4 wells.

All the company’s development projects involve shallow, conventional, either oil or gas, reservoirs that require relatively low production costs. Two redevelopment projects mainly concern the recovery of the remaining reserves that had been previously developed and later were in production but probably without the benefit of using 3-D seismic.

Appraisal projects center on prior discoveries that are never fully developed. In many cases, appraisal wells are drilled to confirm the development of these discoveries. Two of the company’s five exploration projects are multiple gas plays, which are a bright spot, considering there is a strong demand for gas production in the market .

The scale of its portfolio has kept the company on an active footing and it has gotten a significant amount of work scheduled across the portfolio for 2010.

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