DOCSLIB.ORG

Falklands’ Story by PHIL RICHARDS

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Falklands’ Story by PHIL RICHARDS EXPLORERAAPG 2 DECEMBER 2012 WWW.AAPG.ORG Vol. 33, No. 12 December 2012 EXPLORERAAPG PRESIDENT’SCOLUMN ‘Communities’ Concept Starts to Grow By TED BEAUMONT ne of the AAPG Executive please let someone on the Executive Committee’s priorities during the Committee know and we will try to help. Ofirst five months of this fiscal year These informal groups are has been to study the Association’s * * * science program with the goal of doing excellent science – what creating new conduits for generating and On a different subject, in many places disseminating scientific content. we would like to do now is find around the world December is a holiday Fostering communities with specific ways to nurture them ... season. And as such it is a perfect time geologic interests within the Association to consider making a gift to the AAPG is an obvious strategy for meeting this BEAUMONT Foundation. goal. The Foundation supports many I’m happy to report that under the Our hope is that others will be ready in AAPG, like a “super committee” with worthy and significant projects, including leadership of Elected-Editor Steve the near future. authority to create new AAPG science Scott Tinker’s movie “Switch,” the Laubach and the past Vice President- products? Imperial Barrel Award, AAPG’s open Sections Marv Brittenham, AAPG is * * * The best part about all of this: access website Search and Discovery, indeed considering ways to better AAPG’s communities of interest are Distinguished Lecturers and Grants-in- empower “communities of interest” within A question being considered by the open to whoever is interested. They are Aid to students, just to name a few. AAPG – that is, community members AAPG Advisory Council, led by past intentionally very informal, so the trick Any contribution is appreciated. who share common interests in specific AAPG president Paul Weimer, is what is finding out about what they are and Have a wonderful holiday season! geological subjects. should the formal recognition be? where they are meeting. Several of these communities of Should it be as new divisions, like the And right now, this is mostly interest already have self-organized Energy Minerals Division, for example? accomplished by word of mouth. within AAPG. One example is the Or should it be some new entity within If you are interested in starting one “petroleum structure and geomechanics group,” chaired by Peter Hennings. These informal groups are doing excellent science in the background Candidates’ Bios, Responses Available Online ideo statements from all AAPG elect will serve in that capacity for one of Petroleum, University of Adelaide, of AAPG – and what we would like to Executive Committee officer year and will be AAPG president for Adelaide, Australia. do now is find ways to nurture them candidates, most filmed during the 2014-15. without harming them. Our fear is that V summer Leadership Conference in Tulsa, The slate is: Secretary by formalizing them we might stifle their continue to be available online at p Richard W. Ball, Chevron Upstream, enthusiasm or creativity. www.aapg.org. President-Elect Southern Africa SBU, Houston. At the same time, however, we would The candidates were filmed p Randi S. Martinsen, University of p Sigrunn Johnsen, independent like to help them share their ideas with responding to the statement, “Why I Wyoming, Laramie, Wyo. consultant with ProTeamAS, Stavanger, the rest of AAPG in new publications accepted the invitation to stand for AAPG p Kay L. Pitts, Aera Energy, Norway. and short courses – and the best way to office.” Bakersfield, Calif. do that probably requires some type of Biographies and individual information Editor formal structure. for candidates also remains available Vice President-Regions p Colin P. North, University of As mentioned, we’re happy that at online. p István Bérczi, MOL Hungarian Oil Aberdeen, Aberdeen, Scotland. least one of these communities is ready Ballots for the election will open in and Gas, Budapest, Hungary. p Michael Sweet, ExxonMobil for formal recognition – the petroleum spring 2013. The person voted president- p John G. Kaldi, Australian School Production, Houston. structure and geomechanics group. STAFF TABLEofCONTENTS REGULARDEPARTMENTS AAPG Headquarters: From prospects to discoveries: The proof is in the colors: A new Washington Watch ................................32 1-800-364-2274 (U.S. & Canada only) 4 The art of the deal will be among 16 stratigraphic analysis technique, others 1-918-584-2555 the valuable lessons shared during ChromaStratigraphy, is being used Geophysical Corner .............................36 Managing Editor the inaugural DPA-sponsored to record changes in color in rock Historical Highlights .............................38 Vern Stefanic Playmaker Forum, coming soon in samples and produce a virtual core for email: [email protected] Houston. viewing. Spotlight On ..........................................42 Communications Project Specialist Professional News Briefs ......................43 Susie Moore Oklahoma geologists are digging One more time: The AAPG email: [email protected] 6 down deep – really deep – in 18 Foundation’s “explorer-in-residence,” Regions and Sections ..........................44 Osage County in hope of finding Susan Eaton, is returning to Graphics/Production Foundation Update ...............................45 helium, gas or CO2. Any of those Antarctica again on a scientific Matt Randolph will work – the significance is the expedition to study the geology and email: [email protected] Readers’ Forum ....................................46 potential new province. the climate found at the Bottom of Advertising Coordinator the World. ProTracks ..............................................47 Brenda Merideth It’s all about staying on target: Classified Ads ......................................48 P.O. Box 979 14 Technological advances are Lost in the flood: AAPG member Tulsa, Okla. 74101 helping to make geosteering 28 Sam Epstein stayed – and survived In Memory ............................................49 telephone: (918) 560-2647 an increasingly valuable tool for the devastating Hurricane Sandy Director’s Corner ..................................50 (U.S. and Canada only: 1-800-288-7636) geologists involved in horizontal in Rockaway, N.Y. And Gerald (Note: The above number is for advertising purposes only.) wells. Friedman is part of the story ... Divisions Report (DEG) ........................50 fax: (918) 560-2636 email: [email protected] ON THE COVER: Ted Cheeseman, an adventurer who specializes in getting explorers to exotic CORRESPONDENTS locales, stands atop a peak on Antarctica’s Devil’s Island, overlooking the Weddell David Brown Sea. AAPG member and EXPLORER Louise S. Durham correspondent Susan R. Eaton returns to Susan R. Eaton the “Bottom of the World” this month as Barry Friedman Scan this for the mobile version of the the AAPG Foundation-backed Antarctic current web Explorer. Explorer-in-Residence. Story on page 18. Some of what she saw on her previous expeditions there is shown to the left: The AAPG EXPLORER (ISSN 0195-2986) is published monthly for members by the American Association of Petroleum Geologists, 1444 S. Boulder Ave., P.O. Box 979, Tulsa, Okla. 74101-3604, (918) 584-2555. e-mail address: [email protected]. Periodicals Postage Paid at Tulsa, OK and at additional mailing offices.POSTMASTER: Please send address changes to AAPG EXPLORER, a colony of gentoo penguins on Booth P.O. Box 979, Tulsa, Okla. 74101. Canada Publication Agreement Number 40063731 Return undeliverable Canadian address to: Station A, P.O. Box 54 • Windsor, ON N9A 6J5 • E-mail: [email protected] Island, off the Western Antarctic Peninsula. Advertising rates: Contact Brenda Merideth, AAPG headquarters. Subscriptions: Contact Veta McCoy, AAPG headquarters. Unsolicited manuscripts, photographs and videos must be The scenic and narrow Lemaire Channel accompanied by a stamped, self-addressed envelope to ensure return. The American Association of Petroleum Geologists (AAPG) does not endorse or recommend any products or services separates the island from the Antarctic that may be cited, used or discussed in AAPG publications or in presentations at events associated with AAPG. Copyright 2012 by the American Association of Petroleum Geologists. All continent. Both it and the cover photo are rights reserved. Note to members: $6 of annual dues pays for one year’s subscription to the EXPLORER. Airmail service for members: $55. Subscription rates for non-members: $75 for 12 Vol. 33, No. 12 Vol. issues; add $72 for airmail service. courtesy of Cheesemans’ Ecology Safaris. WWW.AAPG.ORG DECEMBER 2012 3 EXPLORERAAPG Program Set for Playmaker Forum Advancing the science he AAPG Playmaker Forum, Geology (Richard Stoneburner). organized by the DPA, will be held TJan. 24 in Houston at the Norris u Established Plays. It’s All About the Play Conference Center. Sessions will include: 3 Bakken Play and Vision for Domestic By LOUISE S. DURHAM, EXPLORER Correspondent Energy (Harold Hamm). u The Art of Exploration. 3 The Marcellus Shale Play (Bill Zagorski). an. 24, 2013, is heavily attended series of Discovery 3 10 Habits of Highly Successful Oil 3 Discovery, Reservoir Attributes and set to be a banner Thinking forums conceived and chaired Finders (Dan Tearpock and Bob Shoup). Significance of the Hawkville Field and Jday for AAPG’s by the forward thinking Sternbach. These 3 Exploration Creativity (AAPG Eagle Ford Shale Trend, Texas (Charles DPA division, which is successful forums have
Load more

Recommended publications
  • Annual Report 2014
    ANNUAL REPORT 2014 Tower Resources plc 5 Charterhouse Square London EC1M 6PX Tel +44 20 7253 6639 Email [email protected] www.towerresources.co.uk Annual Report 2014 Tower Resources plc Annual Report 2014 57 Additional Information Corporate Directory Registered Company Name Professional Advisers Tower Resources PLC Strategic Report Nominated Adviser and Broker At a Glance 1 Directors Peel Hunt LLP Building a high impact African portfolio 2 Jeremy Asher Chairman Moor House 2014 Events 4 Graeme Thomson Chief Executive Officer 120 London Wall Chairman and Chief Executive’s Joint Statement 6 Peter Blakey Non-executive Director London EC2Y 5ET Market Overview 7 Philip Swatman Senior Independent 2014 and Onwards 8 Non-executive Director Joint Broker Operational Review: Peter Taylor Non-executive Director GMP Securities Europe LLP Cameroon 10 First Floor, Stratton House Zambia 11 Company Secretary 5 Stratton Street South Africa 12 Andrew Smith London W1J 8LA Namibia 13 Kenya 15 Corporate Address Solicitors Sahawari Arab Democratic Republic (SADR) 16 Tower Resources PLC Watson Farley & Williams LLP New Ventures 17 5 Charterhouse Square 15 Appold Street Financial Review 18 London EC1M 6PX London EC2Y 2HB Business Risks 19 Registered Office Group Auditors Corporate Governance One America Square UHY Hacker Young LLP Board of Directors 20 Crosswall 4 Thomas More Square Senior Management 22 London EC2N 3SG London E1W 1YW Audit Committee Report 24 Remuneration Committee Report 26 Company Number Registrars Communications with Shareholders 27
    [Show full text]
  • Rockhopper Annual Report 2009
    2009 RKH 00000 Cover _02.qxd 17/9/09 12:05 Page 1 Rockhopper Exploration plc Telephone +44 (0)1722 414 419 Hilltop Park Fax +44 (0)1722 328 491 Devizes Road [email protected] Salisbury www.rockhopperexploration.co.uk Wiltshire SP3 4UF Company Reg. No. 05250250 Annual Report 2009 2009 RKH 00000 Cover _02.qxd 17/9/09 12:05 Page 2 ‘Rockhopper’ is an AIM-listed oil and Investor information gas exploration company based in the United Kingdom. Rockhopper has licences to explore for oil and Rockhopper has conducted an extensive technical Registered address and head office Auditor gas in the North Falkland Basin, a petroleum work programme since its inception in 2004 and is Hilltop Park Baker Tilly UK Audit LLP system with two proven source rocks. now drill ready, subject to finance and necessary Devizes Road Hartwell House regulatory consents. Salisbury 55-61 Victoria Street Both oil and gas have been encountered Wiltshire Bristol on Rockhopper acreage in a previous round Rockhopper has signed a Letter of Intent with a SP3 4UF BS1 6AD of drilling conducted by Shell in 1998. 3rd party energy company to farm out one of its licences. Nomad and broker Financial adviser The first independently verified discovery Canaccord Adams HSBC Bank plc in the Falklands (well 14/5-1) is on Desire Petroleum, a partner of Rockhopper, has Cardinal Place 8 Canada Square Rockhopper acreage. signed a Letter of Intent with a drilling company to 7th Floor London drill a number of wells in the North Falkland Basin 80 Victoria Street E14 5HQ Rockhopper has a contingent gas resource and in 2010.
    [Show full text]
  • Seismic Reflections | 5 August 2011
    1 | Edison Investment Research | Seismic reflections | 5 August 2011 Seismic reflections Confidence in Kurdistan grows Iraq, including the autonomous Kurdistan region, probably has the world’s largest concentration of untapped, easily recoverable oil reserves. Pioneering moves were made into Kurdistan in the 2000s by the likes of Gulf Keystone and Hunt Oil, with considerable drill-bit success. In late July, two important Kurdistan exploration and development deals were announced. These involve Afren acquiring interests in two PSCs with sizeable contingent reserves and a Hess-Petroceltic partnership signing two PSCs for exploration purposes. With increasing production and Analysts improving relations between the regional and Iraqi federal governments, Ian McLelland +44 (0)20 3077 5756 these deals reflect growing confidence in Kurdistan’s potential as a major Peter J Dupont +44 (0)20 3077 5741 new petroleum province. Elaine Reynolds +44 (0)20 3077 5700 Krisztina Kovacs +44 (0)20 3077 5700 Anatomy of the Kurdistan oil province [email protected] 6,000 Kurdistan is located in the North Arabian basin and is on same fairway as the 5,500 prolific oilfields of Saudi Arabia’s Eastern Province, Kuwait, southern Iraq and Syria. 5,000 4,500 The geological backdrop to Kurdistan tends to be simple and is characterised by 4,000 3,500 large anticlinal structures, deep organic-rich sediments and carbonate reservoirs 3,000 mainly of Jurassic to Cretaceous age. Drilling commenced in the region in 2006. So far, 28 wells have been drilled, of which 20 have been discoveries, resulting in A pr/11 Oct/10 Jun/11 Fe b/11 Aug/10 Dec/10 Aug/11 estimated reserves of over 5.8bn boe.
    [Show full text]
  • Drumbeat: June 1, 2011
    The Oil Drum | Drumbeat: June 1, 2011 http://www.theoildrum.com/node/7988 Drumbeat: June 1, 2011 Posted by Leanan on June 1, 2011 - 10:34am Scary signs for jobs A variety of one-time factors, including high oil prices earlier this year, Japan's earthquake and nuclear crisis, and severe weather including flooding and tornadoes in the South, have all taken their toll on American employers. Add government layoffs to the mix, and the picture looks even worse. As federal stimulus dollars have petered out, state and local governments have cut jobs for six months straight. That said, economists were still not expecting this much weakness. Oil Falls the Most in Three Weeks on Report That U.S. Employers Cut Hiring Crude oil dropped the most in three weeks after data showed that U.S. companies added fewer jobs than forecast last month and the expansion of manufacturing slowed, bolstering concern fuel demand growth will weaken. Higher oil price prompts increased drilling Higher-than-expected oil and gas drilling activity in western Canada led the Canadian Association of Oilwell Drilling Contractors Wednesday to increase its forecast for the total number of wells to be drilled in 2011. It now expects the total to be 13,128, an increase of some 1,300, or 11 per cent over the 11,811 wells it anticipated in its project released in October. Philippines protests to China over oil rig plan The Philippines said Wednesday it had formally protested to Beijing over recent activity in disputed waters of the South China Sea and Chinese plans to anchor an oil rig there.
    [Show full text]
  • From Frontier to Proven Basins
    Tower Resources plc 2nd Floor 127 Cheapside London EC2V 6BT Tel +44 20 7253 6639 Email [email protected] www.towerresources.co.uk Annual Report 2015 From Frontier to Proven Basins SYN TR-Annualreport-COVER-pp01-04-01.indd 1 07/03/2016 12:03 Additional Information Contents Corporate Directory Strategic Report Corporate Governance Accounts Directors and Secretary Professional Advisers At a Glance 1 Senior Management 19 Consolidated Statement of Comprehensive Income 31 2015 Events 2 Board of Directors 20 Registered Company Name Nominated Adviser and Broker Chairman and Chief Executive’s 4 Audit Committee Report 23 Consolidated Statement of Tower Resources PLC Peel Hunt LLP Financial Position 32 Joint Statement Remuneration Committee Report 24 Moor House From Frontier to Proven Basins 6 Consolidated Statement of Changes Communications with Shareholders 25 Directors 120 London Wall Tower’s Exploration Strategy 7 in Equity 33 Conflict of Interest 25 Jeremy Asher Chairman London Portfolio shift towards proven basins Consolidated Statement of Cash Flows 34 Directors’ Report 26 Graeme Thomson Chief Executive Officer EC2Y 5ET and low near-term commitments 8 Company Statement of Financial Position 35 Statement of Directors’ Responsibilities 29 Nigel Quinton Exploration Director Operational Review: Company Statement of Changes in Equity 36 Independent Auditors’ Report 30 Peter Blakey Non-executive Director Solicitors Cameroon 10 Company Statement of Cash Flows 37 Dr Philip Frank Non-executive Director Watson Farley & Williams LLP South Africa
    [Show full text]
  • Departamento De Malvinas, Antártida E Islas Del Atlántico Sur
    Instituto de Relaciones Internacionales (IRI) - Anuario 2011 Departamento de Malvinas, Antártida e Islas del Atlántico Sur Considerando que este pequeño aporte puede ser de gran ayuda para todos aquellos que tengan interés en este sector geográfico, que por otra parte integra el problema de soberanía que mantenemos con el Reino Unido, y por ende de nuestros intereses en la Antártida, retomamos – como lo habíamos hecho con anterioridad – con la transcripción textual de las noticias aparecidas en el periódico MercoPress - South Atlantic News Agency (http://mercopress.com/), abarcando todos los temas que - a criterio de la suscripta – puedan tener relación tanto con el tema antártico como con las Islas Malvinas María Elena Baquedano Departamento de Malvinas, Antártida e Islas del Atlántico Sur MERCOPRESS. Monday, January 4th 2010 - 07:56 UTC Argentina recalls events of 1833 and reiterates Malvinas claim On the 177th anniversary of the “illegitimate occupation” by the United Kingdom of the Malvinas Islands, Argentina “repudiates” events of 3 January 1833 and calls on the UK to comply with the mandate of the international community and find a peaceful solution to the conflict. Liberation monument dedicated to the British troops that recovered the Falklands in June 1982 Liberation monument dedicated to the British troops that recovered the Falklands in June 1982 1 Instituto de Relaciones Internacionales (IRI) - Anuario 2011 An official communiqué from the Foreign Affairs Ministry released Sunday in Buenos Aires states that Argentina considers “incomprehensible the British negative to address the heart of the matter and to find a peaceful and definitive solution to the sovereignty controversy”, according to the international community mandate.
    [Show full text]
  • Rigamarole-Spring-2011
    SPRING 2011, NO. 30 A PUBLICATION FOR THE PEOPLE, CUSTOMERS, SUPPLIERS AND FRIENDS OF DIAMOnd OFFSHORE DRILLing, INC. THE OCEAN BLACKHAWK AND OCEAN BLACKHORNET DIAMOND OFFSHORE’S NEWEST DRILLSHIPS SPRING 2011, NO. 30 02 A Giant Rising From the Sea 24 Apart from the Herd Before June 2007, OGX didn’t exist. Today Small, agile oil and gas companies always the Rio de Janeiro-based E&P company have some advantages. At Walter Oil & Gas sits on top of at least seven billion barrels Corporation, they begin with an attitude of certified oil and gas deposits, the most that everyone in the company belongs Brazilian reserves controlled by a private- to the family. Jim Looke, Vice President, sector company. Five Diamond Offshore rigs Drilling and Production Operations, said are helping OGX with the drilling activity. as much by introducing Rigamarole to as many of the company’s 50-person staff as he could when we visited last December. 12 Fleet Gets Shipshape Diamond Offshore has ordered two high- specification ultra-deepwater drillships to be 28 Hometowns of Diamond Offshore delivered in 2013. The new drillships, the Ocean The cultural heritage of Diamond Offshore BlackHawk and Ocean BlackHornet, are sched- employees is rich and varied. In many cases, the uled to set sail from Hyundai Heavy Industries’ men and women who crew our rigs come from (HHI) shipyard in South Korea during the the small towns and villages that help make up second half of 2013. Today, these 12,000-foot the heartland of the countries they represent. In water-depth rated drillships exist only on paper this issue, we take a look at Bogalusa, Louisiana.
    [Show full text]
  • Creating Value Through Building a Well-Funded
    REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2019 ROCKHOPPER EXPLORATION ROCKHOPPER ROCKHOPPER EXPLORATION PLC 4th Floor Telephone +44 (0)207 486 1677 5 Welbeck Street [email protected] London www.rockhopperexploration.co.uk W1G 9YQ Twitter @RockhopperExplo PLC Company Reg. No. 05250250 Creating value through building a well-funded, full-cycle, exploration-led E&P company Report and Accounts for the year ended 31 December 2019 STRATEGIC REPORT GOVERNANCE FINANCIAL STATEMENTS OTHER INFORMATION STRATEGIC REPORT GOVERNANCE FINANCIAL STATEMENTS OTHER INFORMATION CONTENTS SHAREHOLDER INFORMATION STRATEGIC REPORT FINANCIAL STATEMENTS KEY CONTACTS CONCERNS AND PROCEDURES 1 Rockhopper – Who we are Group financial statements 2 2019 highlights 55 Consolidated income statement Registered address and head office: General emails 4 Rockhopper – timeline 55 Consolidated statement of comprehensive income 4th Floor [email protected] 6 Rockhopper at a glance 56 Consolidated balance sheet 5 Welbeck Street 7 Vision, strategy and business model 57 Consolidated statement of changes in equity London Audit committee emails 8 Chairman and Chief Executive Officer’s review 58 Consolidated statement of cash flows W1G 9YQ [email protected] 11 Key Performance Indicators (KPIs) 59 Notes to the consolidated financial statements 12 Industry overview NOMAD and joint broker Website 14 Sea Lion Phase 1 development overview Parent company financial statements Canaccord Genuity Limited www.rockhopperexploration.co.uk 16 Financial
    [Show full text]
  • Foraging and Diet of Southern Rockhopper Penguins at Steeple Jason and Beauchêne Island, Falkland Islands – a Summary Report
    Foraging and diet of Southern Rockhopper penguins at Steeple Jason and Beauchêne Island, Falkland Islands – a summary report Falklands Conservation September 2012 FALKLAND ISLANDS OFFICE. PO Box 26, Stanley. Falkland Islands Tel: +500 22247. Fax: +500 22288 Patron: HRH The Duke of York KG KCVO ADC. Falklands Conservation is a company limited by guarantee in England and Wales No. 3661322 and Registered Charity No. 1073859. Registered Office:14 East Hatley, Sandy, Bedfordshire SG19 3JA. Registered as an Overseas Company in the Falkland Islands. Foraging and diet of Southern Rockhopper penguins at Steeple Jason and Beauchêne Island, Falkland Islands – a summary report September 2012 Sarah Crofts Falklands Conservation Acknowledgements UK Overseas Territories Environmental Programme People’s Trust for Endangered Species Falkland Islands Government John Cheek Trust Rockhopper Exploration PLC Desire Petroleum PLC BHP Billiton Wildlife Conservation Society Note: The aim of this document is to report on the progress of the project since the completion of the two year field work to the funding bodies of the project. The data has not completely and comprehensively been analysed and therefore this report does not necessarily reflect the final information that will be published as a result of the project. Please do not cite without the permission of the author. Falkland Islands Note: The maps in this report are projected with the co-ordinate grid system shown above. To avoid clutter- ing the maps the graticule has been removed so tracking data is more clearly displayed. Please bear in mind when interpreting the maps to avoid misreading the latitudes in particular, as they do not run in perpendicu- lar grids and therefore co-ordinates on the map do not align in a straight line with the axes.
    [Show full text]
  • Evolution Research Nov 2011
    7 November 2011 Price/Target: A$0.56/A$ 1.06 Jupiter Energy (JPR.AU) Buy Mkt Cap: A$65m Net Cash/(Debt) (FY1) A$13m Cornerstone in Kazakhstan Jun 2011A 2012E 2013E Jupiter is commercialising a 24mbbl reserve base onshore Kazakhstan, PBT (4.9) (4.9) 3.8 boosting production from 600 b/d at end 2011 to 4,000 b/d in 2015. The EPS (A$) (5.3) (2.8) 2.1 increasing cash flow from operations should allow the experienced DPS (A$) 0.0 0.0 0.0 management team, backed by supportive significant shareholders to expand its portfolio and build significant value. P/E (x) - - 0.3x Jupiter’s main asset is Block 31/ Block 31 extension in the prolific Mangistau basin 3.5 onshore Kazakhstan. A 3D survey and successful drilling has established a 24.2m 3.0 bbl 2P reserve base. The strategy is to exploit this reserve base, drilling additional 2.5 wells to boost both reserves and production with production commencing at 600 2.0 b/d by end 2011 and increasing to over 4,000 b/d by 2015. The group has 1.5 extended the acreage to the south east with additional exploration potential of 1.0 10-20m bbls, currently being explored with the acquisition of 3D seismic. 0.5 0.0 The company had net cash of A$9.4m at end September 2011, and raised a further $3.45m through a convertible note in October. The company has no debt H2 2006 H1 2007 H2 2007 H1 2008 H2 2008 H1 2009 H2 2009 H1 2010 H2 2010 H1 2011 H2 2011 Source : FactSet other than the A$3.45m convertible.
    [Show full text]
  • Its Impact on Atlantic Basin Energy and Energy Relations with the Non-Atlantic World 1
    Chapter Two The African Hydrocarbons Boom: Its Impact on Atlantic Basin Energy and Energy Relations with the Non-Atlantic World 1 Benjamin Augé Over the past decades the oil sector has changed drastically, thanks to geologists who placed their trust in the potential of new zones that had long remained underexplored. The increase in the price of Brent crude after 2003 (rising from $28/bbl to $94/bbl by 2008, and then climbing to $110/bbl in 2012) helped oil firms raise funds to explore new regions and allowed them to take more risks. This relatively high price level resulted from several geopolitical disruptions which con - tinue to have global repercussions. These have included: (1) the Iraq war; (2) rising tensions with Iran over its nuclear program; (3) Venezuela’s massive strike in 2006 and its long-term effects; (4) the wave of violence since 2006 in Nigeria’s Niger Delta; (5) recurring terrorist attacks in Saudi Arabia; and (5) Hurricane Katrina in 2005, among others. In any case, the seemingly-secular rise in the price of oil in the past decade reflects, to a large degree, a thirst for oil in emerging countries, particularly in China and India. By 2012, the worldwide market was demanding 10 million more barrels per day of oil (mbd) than it had a decade earlier, bringing total global oil demand to its current level of 90 mbd. Editor’s note: this chapter was written when oil prices were around $100 /bbl— before their recent decline. Although a long period with prices at their current levels— $50-$60 /bbl— would price out of the market much of Africa’s new potential supply— the central subject of this chapter— it is likely that prices will actually stabilize within a higher range, somewhere between $70 and $80/bbl.
    [Show full text]
  • FOGL Scheme Document
    THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. PART TWO (EXPLANATORY STATEMENT) OF THIS DOCUMENT TOGETHER WITH THE REST OF THIS DOCUMENT COMPRISES AN EXPLANATORY STATEMENT IN COMPLIANCE WITH SECTION 207 OF THE COMPANIES ACT. This document contains a proposal which, if implemented, will result in the cancellation of the admission of FOGL Shares to trading on AIM. If you are in doubt about the Merger, you should consult an independent financial adviser authorised under the Financial Services and Markets Act 2000 (as amended) if you are in the United Kingdom or another appropriately authorised independent financial adviser if you are in a territory outside the United Kingdom. If you sell or have sold or otherwise transferred all of your FOGL Shares, please send this document and the accompanying documents at once to the purchaser or transferee, or to the stockbroker, bank or other agent through whom the sale or transfer was effected, for delivery to the purchaser or transferee. However, such documents must not be forwarded, distributed or transmitted in, into or from any jurisdiction in which such act would constitute a violation of the relevant laws or regulations of such jurisdiction. If you sell or have sold or transferred only part of your holding of FOGL Shares, please retain these documents and consult the bank, stockbroker or other agent through whom the sale or transfer was effected. The distribution of this document in certain jurisdictions may be restricted by law and therefore persons into whose possession this document comes should inform themselves about and observe such restrictions.
    [Show full text]