PANCONTINENTAL OIL - Projekte in Australien, Kenya, Malta, Marocco und Namibia (Seite 95)

[Staberhuk]

Antwort auf Beitrag Nr.: 45.651.843 von Fliegenschiss am 18.10.13 11:28:38

Moin, moin, Fliege, Warum so ungeduldig? Wenn gar nichts in der Röhre wäre, hättest Du Recht.
Kenia L 10A+B zusammen mit BG Group drilling im Januar 2014,
Kenia L 8 Suchen und Finden eines Operators (übrigens neben Tullow),
Kenia L 6 Suchen und Finden eines Operators, 3D Seismic ist fertig,
Namibia sieht zusammen mit Tullow auch gut aus.
Lass die Aktie doch nur auf 15 - 20 Cent (EUR) steigen.

[Fliegenschiss]

sieht erst mal nicht schlecht aus.
Ich frage mich nur, was tut sich außer dem in 2014???

Ist das alles?

Schönes WE

Fliege

[Staberhuk]

ASX Companies Announcement Office
18 October 2013
TULLOW NAMIBIA EL 0037 FARMIN COMPLETE
 -Documentation and approvals for Tullow to farmin to Namibia Licence EL 0037 have been completed

-A formal notice of Closing has now been accepted by Tullow and Pancontinental
-The farmin programme includes Tullow fully funding extensive 3D and 2D
seismic and, subject to identifying a drillable prospect, drilling an Exploration well to maintain a 65% interest
-A 3D seismic survey is expected to commence in 2014
-Pancontinental estimates farmin expenditure of potentially up to US$130 million(100% basis) for the full work programme

Pancontinental Oil & Gas NL (“Pancontinental”) is pleased to announce that the legal process of the previously announced Tullow Kudu Limited (“Tullow”) farmin to licence EL 0037 offshore Namibia has now been completed and both parties have accepted Closing of the farmin agreement. Tullow is a wholly owned subsidiary of Tullow Oil plc.
Ministerial approval and Joint Venture considerations regarding the farmin have now been satisfied and Tullow has now been assigned a 65% interest in EL 0037. Pancontinental will retain a free-carried 30% interest out of its previous 95% interest.
Pursuant to the Farmout Agreement Tullow has taken over as Operator from
Pancontinental and will commence extensive programmes of 2D seismic and 3D seismic and, subject to identifying a drillable prospect, fully carry Pancontinental through an exploration well. Paragon Oil & Gas (Pty) Ltd’s 5% free-carried interest will be included in the Tullow farmin expenditure.
Pancontinental estimates that Tullow’s total farmin expenditure may be up to US$130 million (100% basis).
The Farmout Agreement provides for Tullow-
 Taking over as Operator of Licence EL 0037 from Pancontinental;
 Funding 100% of the costs of a 3D seismic survey of not less than 3,000 km2
commencing before 31 December 2014;
 Funding 100% of the costs of a 2D seismic survey of not less than 1,000 km (either coincident or possibly later than the 3D seismic survey);

PANCONTINENTAL OIL & GAS NL
ACN 003 029 543 ASX : PCL
Ground Floor P O Box 8260 Tel: [phone]
288 Stirling Street, Perth Perth Business Centre Fax: [phone]
Western Australia 6000 Western Australia 6849 Email: [e-mail]
Web: www.pancon.com.au

Subject to identifying a drillable prospect, fully funding 100% of the costs of one exploration well to not less than 3,500 metres below the sea surface (see Tullow’s Rights and Obligations);
 Reimbursing Pancontinental for 65% of past expenditures incurred;
 Purchasing, interpreting and mapping existing seismic data; and
 Paying 100% of any other costs and expenses during the farmin period.

Tullow’s Rights and Obligations
Under the terms of the Farmout Agreement, Tullow will pay 65% of back costs and 100% of forward costs during the farmin period and complete the 2D and 3D seismic surveys outlined above. Should the 2D and 3D seismic not deliver a suitable drilling target, Tullow shall be entitled to withdraw from its commitment to drill the well outlined above by giving written notice to Pancontinental not later than 16 months after the date of the completion
of the acquisition of the 3D seismic or 13 months prior to the expiry of the First Renewal Exploration Period whichever is the earlier. Commencement of the acquisition phase of the 3D seismic is required by 31 December 2014, and may possibly occur as soon as early-2014 depending on seismic vessel availability and other factors. Should Tullow withdraw after fulfilling its 2D and 3D seismic commitments it must re-assign its 65% interest back to Pancontinental, at no cost to Pancontinental.

The Namibia EL 0037 consortium consists of -
Tullow Kudu Limited 1 (Operator) 65%
Pancontinental Namibia (Pty) Ltd 2 30%
Paragon Oil & Gas (Pty) Ltd 3 5%
1 Tullow Kudu Limited is a wholly owned subsidiary of Tullow Oil plc
2 Pancontinental Namibia (Pty) Ltd is a wholly owned subsidiary of Pancontinental Oil & Gas NL
3 Paragon Oil & Gas (Pty) Ltd is a wholly owned subsidiary of Paragon Investment Holding’s (Pty) Ltd

[alk99]

Doch noch was gefunden im HotCopper-Forum über BG Group, Drilling also wohl im 1. HJ 2014

BG Group to spend $160m on oil wells
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By KENNEDY SENELWA Special Correspondent

Posted Saturday, September 14 2013 at 12:57
In Summary

The firm expects to move a rig from Tanzania and sink two wells in exploration area L10A and L10B near Mombasa in January 2014. Drilling of the two wells is expected to take about six months .

UK oil explorer BG Group will next year spend Ksh13.9 billion ($160 million) to drill two offshore wells for crude oil and natural gas in Kenya, its executives said.

The London Stock Exchange-listed firm expects to move a rig from Tanzania and sink two wells in exploration area L10A and L10B near Mombasa in January 2014. Drilling of the two wells is expected to take about six months.

“The current plan is to relocate Deepsea Metro-1 drillship from Tanzania to Kenya in the first quarter of 2014,” said BG’s external communications manager Mark Todd.

The first well will be in shallow waters with depths of 500 to 700 metres at least 20 kilometres from shore. The second well will be in the deep sea at depths of 1,000 to 1,600 metres over 110 kilometres from shore.

Drilling activity is expected to intensify in the final quarter of this year and early next year with brightening prospects of oil and gas.

On September 3, Africa Oil — a Canadian company prospecting for petroleum in northern Kenya — raised five-fold the estimated deposits in the Lokichar basin, affirming a recent report by British exploration firm Tullow Oil.

In a released statement, Africa Oil said that northern Kenya has commercially viable oil and gas reserves. The firm is an exploration partnership with Tullow Oil in some of the wells with fuel deposits in northern Kenya.

Mr Todd said BG Group believes Kenya has the potential to discover either crude oil or natural gas in acreage L10A and L10B as various companies have discovered fossil fuel deposits in other exploration areas in the country.

BG owns 40 per cent of acreage L10A and 45 per cent of acreage L10B.

[Staberhuk]

Das sind wohl die Kernaussagen der Meldung. Nach dem ersten leichten Schock lassen diese Aussagen doch optimistisch in die Zukunft schauen, zumal Tullow dabei ist.

"Withdrawal from the JOA requires 60 days’ written notice, and resignation as Operator requires 90 days’ notice; however Pancontinental expects Apache to give these notices shortly."

"Pancontinental considers, while it is unfortunate to see Apache’s strategic withdrawal, that this provides an opportunity to increase its interest in what it regards as a very worthwhile exploration area offshore East Africa."

Kenya L8 Licence Potential
"Including L8, Pancontinental holds interests in four licences over 20,000 sq km offshore Kenya.
L8 contains numerous Prospects and Leads to pursue for oil and Pancontinental is now looking forward to a new Operator and a re-formed Joint Venture."


"Following the Mbawa 1 gas discovery, it is interpreted that there is a major, deeper opportunity to discover oil in strata that have not yet been tested in L8. A number of Prospects have been mapped out as potential future drilling targets to test this concept.
Pancontinental continues to regard Kenya as one of the best and most stable Business environments in Sub-Saharan Africa."

[Staberhuk]

Antwort auf Beitrag Nr.: 45.601.609 von Staberhuk am 10.10.13 12:18:38

Da ist die Antwort von PCL. Der Rücktritt bedarf einer schriftlichen 60 tätigen Frist. Die wurde nicht erfüllt.
Quelle: [urlwww.pancon.com.au][/url]

ASX Companies Announcement Office
10 October 2013
KENYA L8 CLARIFICATIONPancontinental notes media reports that Bob Dye, Apache's senior vice president of
corporate affairs, has stated that Apache is withdrawing from the L8 licence, offshore
Kenya.
Apache has not yet given written notification of its withdrawal to the L8 Joint Venture
participants under Article 13.1(A) of the L8 Joint Operating Agreement (“JOA”), nor has it
given written notice of its resignation as Operator under the JOA. Withdrawal from the
JOA requires 60 days’ written notice, and resignation as Operator requires 90 days’
notice; however Pancontinental expects Apache to give these notices shortly.
The media report of Apache’s withdrawal from L8 (its only venture in Sub-Saharan Africa)
follows other Apache divestments around the globe, including Apache’s divestment of
projects in the Gulf of Mexico (announced 18 July 2013), in Alberta, Canada (announced
15 August 2013) and in Egypt (announced 1 September 2013).The series of withdrawals
are consistent with Apache’s announcement in May 2013 that it planned to divest $4
billion in assets by year-end 2013.
The L8 Joint Venture will discuss the best way forward and determine the new operator of
the Licence after it has been formally notified by Apache of its intention to withdraw.
Subject to ministerial consent Pancontinental expects to increase its interest in the L8
licence on a pro-rata basis, at no material cost.
The current participants in the L8 licence are -
Apache Corporation 50%
Origin Energy Limited (ASX: ORG) 20%
Pancontinental Oil & Gas NL (ASX: PCL) 15%
Tullow Oil plc 15%
Pancontinental considers, while it is unfortunate to see Apache’s strategic withdrawal,
that this provides an opportunity to increase its interest in what it regards as a very
worthwhile exploration area offshore East Africa.
Kenya L8 Licence Potential
Including L8, Pancontinental holds interests in four licences over 20,000 sq km offshore
Kenya.
L8 contains numerous Prospects and Leads to pursue for oil and Pancontinental is now
looking forward to a new Operator and a re-formed Joint Venture.
PANCONTINENTAL OIL & GAS NL
ACN 003 029 543 ASX : PCL
Ground Floor P O Box 8260 Tel: [phone]
288 Stirling Street, Perth Perth Business Centre Fax: [phone]
Western Australia 6000 Western Australia 6849 Email: [e-mail]
Web: www.pancon.com.au
Following the Mbawa 1 gas discovery, it is interpreted that there is a major, deeper
opportunity to discover oil in strata that have not yet been tested in L8. A number of
Prospects have been mapped out as potential future drilling targets to test this concept.
Pancontinental continues to regard Kenya as one of the best and most stable business
environments in Sub-Saharan Africa.
About Pancontinental Oil & Gas NL
Pancontinental Oil & Gas NL is an independent oil and gas exploration company listed on
the Australian Securities Exchange (ASX: PCL).
Pancontinental’s focus is on exploring for oil in new frontiers in Africa and surrounding
regions and it currently holds interests in four licences over 20,000 square kilometres in
East Africa offshore Kenya, and the EL0037 licence over 17,000 square kilometres
offshore Namibia.
Pancontinental is one of the few small-cap junior companies amongst an increasing
number of much larger companies offshore East Africa and Namibia.
Pancontinental’s website is www.pancon.com.au/
Yours sincerely for and on behalf of
Pancontinental Oil & Gas NL
Barry

[Staberhuk]

Wenn Apache die Regierung von Kenya am 27.09.2013 über den Wechsel informierte, ist die Meldung von PCL im Finanzjahresbericht - veröffentlicht am 27.09.2013 - wohl nicht mehr aktuell gewesen. Haben sich die beteiligten Explorer nicht mehr miteinander unterhalten? Immerhin ist auch Tullow dabei.

Kenya L8 [15%]
"The Mbawa 1 exploration well in block L8 was drilled during the year. Mbawa 1 is the first natural gas discovery and the first
ever hydrocarbon discovery offshore Kenya. The joint venture is considering a second well on deeper oil play."


"Dye told Reuters in an email late on Tuesday. Dye said Apache had informed the Kenyan government of the move on Sept. 27."

[Fliegenschiss]

Schöner Mist,

und was jetzt???

Sieht nicht gut aus.


Gruß

Fliege

[gabbo62]

Kenya: Apache Corp to quit Kenya offshore Block L8


09 Oct 2013

Location of Block L8 offshore Kenya (Source: Pancontinental)American explorer Apache Corp has abandoned its hunt for hydrocarbons in Kenya, a hotspot in the race for new oil and gas deposits, after finding only non-commercial quantities of gas in its sole Kenyan interest. Bob Dye, senior vice president of corporate affairs at Apache, said the company was relinquishing its 50 percent stake in Kenya's offshore L8 Block where it partnered with Britain's Tullow Oil and Australia's Pancontinental and Origin Energy.

'We determined that other areas in our worldwide portfolio provided better opportunities for future capital investments,' Dye told Reuters in an email late on Tuesday. Dye said Apache had informed the Kenyan government of the move on Sept. 27. The decision, he said, was not influenced by a militant attack on a Nairobi shopping mall a week earlier which killed at least 67 people. The attack, the worst on Kenyan soil since the 1998 U.S. Embassy bombing carried out by al Qaeda, has raised questions over the security of oil and gas exploration facilities.

Commercially viable oil discoveries in Kenya, along with oil struck in Uganda and gas finds offshore Tanzania and Mozambique, underline east Africa's potential to become a major oil and gas producing region in the next five years.

Background

In September 2012, JV partner Pancontinental Oil & Gas announced that the Mbawa-1 exploration well in the L8 licence area offshore Kenya has reached a final total depth of 3,151 metres below the drill floor. The Mbawa-1 well encountered approx. 52 metres (~170 feet) of net gas pay in porous Cretaceous sandstones in the primary target. At the level of the deeper secondary target the well did not contain hydrocarbons at this location. Operator Apache plugged and abandoned the well without testing.

Source: Reuters


http://www.energy-pedia.com/news/kenya/new-156326

[alk99]

zu Kenia L10A & L10B

Auf der Seite des Operators BG Group lassen sich keine Infos über ein Drilling Ende 2013 finden. Dort steht immer noch 2014. Ist aber nicht weiter wild. Das Interesse ist so gering derzeit, dass ich erst kurz vor Beginn der Bohrungen damit rechne, dass sich hier ordentlich was bewegt. Immerhin bohrt man vor der Toren (bzw. dem Hafen) Mombasas.
BG Group war zuletzt recht erfolgreich u.a. in Tansania.

So kann man hier und da noch versuchen ab und zu mal 20k+ Stücke einzusammeln. Größere Volumina oder akzeptable Briefkurse werden ja kaum angeboten.