Enegi Oil Plc - 500 Beiträge pro Seite

[Jon_Schnee]

Watch List:

Enegi Oil Plc

Homepage: http://www.enegioil.com/

Current Share Price: 7.38p
Shares in issue 132,023,582
Market capitalisation £9.7M

ProActivInvestors:
http://www.proactiveinvestors.co.uk/LON:ENEG/Enegi-Oil/

Introduction

Management have sought to grow the Company’s portfolio;

Vision is to create an oil and gas Company with a portfolio of assets across the E&P lifecycle;

Low cost entry and low initial Capex critical in opportunity acquisition;

Entered into Dead Sea and Wadi Araba project in Jordan, with our partners KGEC;

Entered into the North Sea via 27th UK licencing round with our partners, ABT;

Completed significant value-creating programme in County Clare, Ireland;

Continued to work assets in western Newfoundland;

[Jon_Schnee]

Antwort auf Beitrag Nr.: 44.955.651 von Jon_Schnee am 30.06.13 18:55:47

Derzeit stehen 2 Projekte im Vordergrund: Newfoundland & Advanced Buoy Technology (ABT) Deal

Newfoundland Projects
Enegi Oil boosted by Newfoundland tie-up
http://www.proactiveinvestors.co.uk/companies/news/57936/ene…
Enegi Oil agrees new partnership for multi-well programme in Canada
http://www.proactiveinvestors.co.uk/companies/news/57902/ene…

Advanced Buoy Technology (ABT) Deal http://www.abtechnology.com/
Enegi Oil's transformational plan comes together
http://www.proactiveinvestors.co.uk/companies/news/58500/ene…

[Jon_Schnee]

Antwort auf Beitrag Nr.: 44.955.771 von Jon_Schnee am 30.06.13 19:14:14

Interim Results for the six months ended 31 December 2012
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=EN…

Unternehmen hat wenig Cash - siehe link. PP ist angekündigt:

In the event the Farm-In is executed, BSE and Enegi have agreed that BSE will participate in a private placement under which BSE will purchase a number of shares at the average price for the previous 10 trading days from the date of the LOI, investing a total of GBP1,200,000;
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=EN…

& Cashflow vom Test Bohrloch (Garden Hill - ca 20'000 boe)

[Jon_Schnee]

Antwort auf Beitrag Nr.: 44.955.651 von Jon_Schnee am 30.06.13 18:55:47

UK Forum:

Enegi Oil Share Chat (ENEG)
http://www.lse.co.uk/ShareChat.asp?ShareTicker=ENEG&share=en…

[Jon_Schnee]

Antwort auf Beitrag Nr.: 44.961.081 von Jon_Schnee am 01.07.13 17:12:31

2 July 2013
Enegi Oil Plc
('Enegi' or ‘the Company')

Fyne Oil Field Farm In
http://www.enegioil.com/admin/data/uploads/pdf/news/2013/ene…

Enegi, the independent oil and gas Company with a portfolio of assets located in the UK North Sea, Newfoundland Canada, Ireland, and Jordan is delighted to announce, that along with its Joint Venture (“JV”) partner ABTechnology (“ABT”), it has signed Heads of Agreement (“HOA”) with Antrim Resources (N.I) Limited (“Antrim”) that governs UK Central North Sea Licence P077 (“P077” or the “Licence”) which contains the Fyne Field (“Fyne”). Antrim currently holds a 100% interest in and is Operator of the Licence.

Under the HOA, Enegi and ABT will be responsible for the costs associated with preparing an amended Field Development Plan for Fyne (the “FDP”), based on using ABT’s buoy technology, for submission to the UK Department of Energy and Climate Change (“DECC”). Upon approval of the FDP by DECC, the JV will earn a 50% interest in the development of Fyne. A FDP has been previously prepared for Fyne and much of this work can be integrated into the new FDP.

Fyne has been subject to considerable investment to date. Five successful wells have already been drilled, producing oil at 25o API and achieving free flow test rates of up to 4,000 bopd. Fyne has 2P reserves of 9.9 million barrels and, being well appraised, it is now ready to be developed and ABT’s buoy technology has been identified as the most suitable development solution.

The HOA is the first agreement that the JV has entered into following the announcement of its formation on 29 May 2013. The agreement is in accordance with the JV’s stated strategy for Enegi and ABT to work together to secure and develop interests in stranded, offshore oil reserves which can be accessed utilising ABT’s buoy technology. The JV and Antrim expect to conclude an agreement which contains the terms in the HOA shortly.
Alan Minty, CEO of Enegi Oil commented:

“We are delighted to have entered into this agreement with Antrim. This is an example of how we can use the buoy solution to gain reserves and production in well appraised, and therefore geologically low risk, assets for a fraction of the price of traditional acquisition routes.

The Fyne field is an ideal opportunity to show the potential of the buoy solution and is an example of how significant value can be unlocked in an asset which would otherwise have remained undeveloped. We look forward to working with the Antrim team to gain FDP approval for Fyne, and unlocking the full value of this project for our mutual benefit.

We anticipate that this will generate significant interest in the use of buoy technology as a development solution and could be the advent of a new era in the development of the North Sea. The model we have devised would allow us to undertake multiple projects simultaneously in conjunction with Fyne.”

Highlights:
 Upon completion and approval of a FDP, Enegi and ABT will earn the right to acquire a 50% working interest in Fyne by contributing 50% of the costs of development - equating to approximately net 5 million barrels of 2P reserves to the JV. This will be attributed equally between both the companies.
 In return Enegi and ABT will be responsible for all the costs associated with preparing a new FDP based on using buoy technology for Fyne incorporating work already included in previous FDPs
 Antrim will remain Operator of the Licence.
 Under the licence amendment agreed with DECC, FDP submission will take place by the end of the January 2014 with development following approval and first production prior to 25 November 2016
 An area of mutual interest (“AMI”) has also been agreed by the Parties immediately adjacent to the Fyne Field, which contains additional discoveries which could potentially be tied back into this development.
 ABT’s buoy solution utilises existing proven low cost appropriate technology to develop oil and gas fields that are considered uneconomic using conventional solutions, providing the ability to unlock the value associated with Fyne.

The Fyne Oil Field
Fyne is an extensively appraised oil field located in UK Licence P077 which covers Block 21/28a in the Central North Sea. The field is on a sand – filled channel linking the Pilot Field (250 mmbbls STOIIP) to the Guillemot complex (> 60 mmbbls recoverable reserves). The field has 2P reserves of 9.9 million barrels with an oil API of 25o. Five wells have been successfully drilled into the field with free flow test rates of up to 4,000 bopd.

Fyne Field opportunity
Fyne, given it contains 9.9 million barrels of 2P reserves position, has considerable value. Despite this, developing this field using conventional solutions has proven to not be economically feasible. The JV and Antrim believe that utilising ABT’s buoy solution to develop the field will make such development economic and will allow the partners, and all their respective stakeholders, to benefit from the full value that is associated with the field. Under the licence amendment agreed with DECC, FDP submission will take place by the end of the January 2014 with development following approval and first production prior to 25 November 2016.

ABT’s buoy technology is an innovative solution utilising appropriate low cost technology to develop marginal fields which are considered uneconomic to develop using existing conventional solutions. The ABT unmanned buoy sits just below the surface of the water housing production and processing equipment. The oil produced is then offloaded to a tanker for transport to market.

The resultant effect of this is that the ABT solution is a low cost solution that can significantly reduce the capital and operational costs for developing marginal fields, considerably enhancing the value of the project to the licence partners and leading to the development of an asset which may have otherwise not happened.

A previous version of the FDP has already been drafted by Antrim for Fyne. To expedite the process and to minimise costs, where possible, much of the work that has already been completed will be retained. Most significantly, a FEED study based on buoy technology needs to be completed to provide the required technical input into the FDP. Recognising this, the JV has already commenced preparations to finalise the scope of the FEED and other studies needed.

In addition, subject to the FDP being approved by DECC, the JV and Antrim has agreed an AMI immediately adjacent to the Fyne Field, which may include discoveries that could potentially be tied back into this development. Any new licences acquired for such purpose will be on a 50-50 interest basis between the JV and Antrim.

Enegi is confident that project finance can be secured for the production buoy and is already working with its advisors to develop lines of credit which will be secured on the reserves and the equipment itself.

[Jon_Schnee]

heute gekauft 0.0725 GBP

[Jon_Schnee]

Antwort auf Beitrag Nr.: 44.967.235 von Jon_Schnee am 02.07.13 15:44:51

hier noch eine ältere News vom Partner in Newfoundland:

Shoal Point announces plans to ship Oil Rig to Newfoundland
http://ca.finance.yahoo.com/news/shoal-point-announces-plans…

[Jon_Schnee]

Zitat von Jon_Schnee: heute gekauft 0.0725 GBP

in ein fallendes Messer hineinkaufen... na ja, Rebound ist überfällig...

[Jon_Schnee]

Antwort auf Beitrag Nr.: 44.964.393 von Jon_Schnee am 02.07.13 09:27:46

Enegi Oil and Antrim Energy strike deal to develop Fyne field

By Jamie Ashcroft July 02 2013, 7:25am
http://www.proactiveinvestors.co.uk/companies/news/58572/ene…

Fyne has been extensively appraised and it has almost 10mln barrels of oil reservesFyne has been extensively appraised and it has almost 10mln barrels of oil reserves

Enegi Oil (LON:ENEG) and Antrim Energy (LON:AEY, CVE:AEN) have struck a deal that could transform the Fyne oil field development project in the North Sea.

The previous plan for Fyne was scrapped earlier this year because of rising development costs.

Through the deal with Enegi, and its joint venture partner, AB Technology (ABT), an alternative field development plan will be devised using un-manned production buoys. This is expected to reduce both development and operational costs.

Enegi and ABT will together earn a 50% interest in the Fyne field once the new development plan has been completed and approved by the Department of Energy and Climate Change (DECC).

The Fyne venture is expected to be a catalyst for Enegi’s strategy of deploying buoy technology to unlock marginal fields, and it says the business model it has put together will allow the company to undertake multiple projects simultaneously.

"We are delighted to have entered into this agreement with Antrim,” said chief executive Alan Minty.

“This is an example of how we can use the buoy solution to gain reserves and production in well appraised, and therefore geologically low risk, assets for a fraction of the price of traditional acquisition routes.

“The Fyne field is an ideal opportunity to show the potential of the buoy solution and is an example of how significant value can be unlocked in an asset which would otherwise have remained undeveloped.

“We look forward to working with the Antrim team to gain FDP approval for Fyne, and unlocking the full value of this project for our mutual benefit.”

“We anticipate that this will generate significant interest in the use of buoy technology as a development solution and could be the advent of a new era in the development of the North Sea.”

Fyne has been extensively appraised, with five wells drilled to date. It currently has 9.9mln barrels of oil reserves and has been tested with free flow rates of 4,000 barrels per day.

[Jon_Schnee]

Antwort auf Beitrag Nr.: 44.968.557 von Jon_Schnee am 02.07.13 19:04:00

Antrim Energy shares soar as Enegi deal puts Fyne back in play
http://www.proactiveinvestors.co.uk/companies/news/58596/ant…

[Jon_Schnee]

Morgen

http://www.proactiveinvestors.co.uk/companies/news/58502/sea…

Proactive Investors is delighted to bring you three little crackers at our forum on July 4 - America's fireworks night.

At London's Chesterfield Mayfield hotel we will be showcasing Sea Dragon Energy (CVE:SDX) and Enegi Oil(LON:ENEG), whose huge potential is largely being overlooked by the market, and Bullabulling Gold (LON:BGL, ASX:BAB), a fledgling gold miner making all the right moves as it takes its project towards production

[Jon_Schnee]

Zitat von Jon_Schnee: Morgen

http://www.proactiveinvestors.co.uk/companies/news/58502/sea…

Proactive Investors is delighted to bring you three little crackers at our forum on July 4 - America's fireworks night.

At London's Chesterfield Mayfield hotel we will be showcasing Sea Dragon Energy (CVE:SDX) and Enegi Oil(LON:ENEG), whose huge potential is largely being overlooked by the market, and Bullabulling Gold (LON:BGL, ASX:BAB), a fledgling gold miner making all the right moves as it takes its project towards production

Heute
(wird wohl eine neune Presentation geben - wird auch Zeit)

There has been an absolute tsunami of good news for our next guest, the explorer and developer Enegi Oil, which has producing assets in Canada.

Third party vindication of its strategy came in the latest update to the market, as Enegi revealed it had signed a letter of intent with Black Spruce Exploration (BSE) that sets out the terms for a partnership.

It proposes that BSE pays for up to twelve new wells on the Newfoundland properties, in return for which it can earn a 60% working interest in the projects.

This is expected to be formalised into a definitive farm-out deal next month.

Here to tell us more about the deal and all the other exciting stuff going on in the background will be executive chairman and chief executive Alan Minty.

[Jon_Schnee]

Antwort auf Beitrag Nr.: 44.964.393 von Jon_Schnee am 02.07.13 09:27:46

Bild (&Text) zu News:

Enegi strikes Fyne farm-in deal as new buoy solution looks to resurrect field plan
http://www.energyvoice.com/2013/07/enegi-strikes-fyne-farm-i…

[Jon_Schnee]

Enegi Oil able to cover cost of its share of Fyne development, broker says
http://www.proactiveinvestors.co.uk/companies/news/58687/ene…

[Jon_Schnee]

Neue Präsentation:

http://www.enegioil.com/pdf/Corporate_Presentation_July_2013…

[Jon_Schnee]

Zitat von Jon_Schnee: Neue Präsentation:

http://www.enegioil.com/pdf/Corporate_Presentation_July_2013…

Manchmal frage ich mich schon ab gewissen unverständlichen Aussagen.

Seite 8: Western Newfoundland Assets

PL 2002-01 (A) – 100% WI

PAP#1 ST3 poorly connected to significant volume of oil and gas

Greater than 100 mmbo * STOIIP

----
E-Mail zur Klärung an Management ist unterwegs.
----
Rest ist mir verständlich.

[Jon_Schnee]

Zitat von Jon_Schnee: Neue Präsentation:

http://www.enegioil.com/pdf/Corporate_Presentation_July_2013…

Facebook Komementar:
https://www.facebook.com/ENEGIPLC


Mark Whitby:
FANTASTIC PRESENTATION! Contingent and prospective resources nearly tripled in a year.100 million plus in place in Garden Hill. Approx $120 million going into development of NF licenses. BSE deal a cert. The Fyne deal is massive, its not just the one project by the looks of it, other areas of interest in the license could add large P2 reserves. Other deals are in discussion. New production projects are presently under negotiation. This is massively undervalued. These shares will be gold dust within the year. News flow will pick up significantly short to medium term from BSE and their other developments. There is much to look forward to on this one at last it seems. This has put the company on the radar now as to how under valued it is. How much longer now until the market recognizes what this company is worth. Surely a £100 million plus market cap is now feasible short term.

Freitag um 11:53 · Bearbeitet · Gefällt mir

[Jon_Schnee]

Antwort auf Beitrag Nr.: 44.997.831 von Jon_Schnee am 07.07.13 12:15:12

weitere Kommentare:


Mark Whitby Question:
Can anyone interpret this correctly as it seems the deal of the century.
"Once all five wells have been drilled, BSE will earn a 50% working interest in all the lease and licences held by Enegi"
This seems to indicate eneg will get all the income from four wells until the 5th is drilled.
What do BSE get out of it until then.
It sounds like eneg have all the cards and have shown them some pretty impressive data for them to agree to this deal.
Some complained too much was given away. This is a free carry at 50% but only when five wells are drilled.
Basically if they produce enegi get 2.5 wells flowing at 450- 5000bpd for nothing. Before then 100% of the revenue.
Seems the deal of the century in oil and gas terms.
What have I missed.Übersetzung anzeigen


David E Hampton:
Hi Mark don't think you have missed anything although I would like to see the farm in details fully. Black Spruce are however getting about 11% of the company and a load of Newfoundland data. They must be confident of getting these wells not only producing but producing very quickly

Mark Whitby:
Good point David, indeed the 11% will make it worthwhile for them. They must have seen some impressive data, that's for certain.Übersetzung anzeigen

[Jon_Schnee]

hier noch das letzte Update des Wadi Araba Project (Jordan) Projekts. Ratification sollte noch in 2013 über die Bühne. (derzeit ein Nebenschauplatz)

4 March 2013

Update on Dead Sea and Wadi Araba Project, Jordan

Enegi, the independent oil and gas company, is pleased to announce that yesterday, at a meeting which was chaired by Prime Minister Abdullah Ensour, the Cabinet approved a co-production agreement with Korea Global Energy Corporation ("KGEC") for oil exploration in the Dead Sea and Wadi Araba areas.

KGEC will carry out its exploration works over a 6,819-square-kilometre area in three phases.

Under the agreement, KGEC will implement its contractual obligations for the four-year exploration phase, during which it will conduct geological studies of the area, including a seismic survey, and drill three wells for oil exploration. The Company will provide further updates in the coming weeks.

As announced on 13 December 2013, Enegi has a 5% carried interest in the project.

Alan Minty, CEO of Enegi, commented:

"We are delighted that the Cabinet and the Prime Minister have approved this agreement. This is a further step forward in finalising the Ratification of this project. We are very excited about this asset and look forward to working with KGEC and the Jordanian authorities in progressing this project."

[Jon_Schnee]

Antwort auf Beitrag Nr.: 45.001.789 von Jon_Schnee am 08.07.13 12:39:05

Netter (noch) Nebenschauplatz

UPDATES: ENEGI Oil shares advance on Jordan deal
http://www.proactiveinvestors.co.uk/companies/news/51537/upd…

By Ian Lyall and December 13 2012, 4:21pm

The field has an estimated reserve of more than 1.1bn barrels.

ENEGI Oil (LON:ENEG) shares advanced over 13% as the AIM quoted firm unveiled a deal to take a 5% stake in Jordan’s highly prospective Dead Sea-WadiAraba Block.

In return for the stake, the AIM-listed explorer will provide its technical and development expertise.

Enegi chief executive Alan Minty called the deal an “excellent opportunity”, which helps de-risk the company’s growing portfolio of projects.

It requires require low capital investment and allows the firm to “access significant potential upside”.

The field has an estimated reserve of more than 1.1bn barrels.

The deal follows success closer to home in the last North Sea licensing round.

The block itself consists of 6,800 square kilometres (km2) of land next to the Dead Sea.

A number of wells have been drilled over a 40 year period testing two geological plays that run down the western edge of the block that have proved the existence of hydrocarbons.

Minty said: "This is an excellent opportunity for the company and once ratification of the PSA has taken place Enegi will possess an interest in what we believe is a very exciting project.

“Our entry into this block is consistent with our strategy of identifying interesting opportunities where we can bring our expertise into the partnership at minimal costs to our shareholders; thus de-risking our current portfolio.

“This is a very exciting development for the company and we look forward to working with KGEC and the Jordanian authorities on this block.

[Jon_Schnee]

Freitag wird Fram-in Agreement geschlossen. Dann sollte es mehr Details über das weitere vorgehen geben.

Enegi and BSE intends to enter into a definitive Farm-in Agreement (“the Farm-In”) by 12 July 2013;
http://www.enegioil.com/admin/data/uploads/pdf/news/2013/ene…

[Jon_Schnee]

Morgen: Fram-in

Multi-Well Programme Secured to Accelerate Development of Newfoundland Assets

http://www.enegioil.com/admin/data/uploads/pdf/news/2013/ene…

Enegi and BSE intends to enter into a definitive Farm-in Agreement (“the Farm-In”) by 12 July 2013;


BSE = Black Spruce Exploration Corp. = http://www.blspexp.com/

[Jon_Schnee]

Shares magazine unveils Enegi Oil as its "local hero" for the North West with a Buy rating:

http://www.sharesmagazine.co.uk/

quelle: https://www.facebook.com/ENEGIPLC

[Jon_Schnee]

Zitat von Jon_Schnee: Shares magazine unveils Enegi Oil as its "local hero" for the North West with a Buy rating:

http://www.sharesmagazine.co.uk/

quelle: https://www.facebook.com/ENEGIPLC

http://www.iii.co.uk/investment/detail?code=cotn%3AENEG.L&di…

Just subscribed to the magazine on my iphone to check this out. Here's what it says (ive had to type this as it's in PDF format, it's word for word i assure you!)

Manchester-headquartered oil and gas firm Enegi Oil is worth snapping up for its ability to leverage proprietary buoy technology (ABT), agreed to farm-in to Antrim Energy Fyne project which the latter had side-lined after traditional development methods failed to provide adequate economic returns. Unmanned production buoys will be used to produce from the field with an expected reduction in both development and operational costs. Once the new field development plan (FDP) has been completed and approved by the Department of energy and Climate Change (DECC) Enegi and ABT will together earn a 50% interest in the field. The £9.7 million cap sees scope for further deals with 88 fields holding less than 15 million barrels of oil equivalent of reserves (mmboe), which it believes it believes no conventional offshore unit can develop economically.
The company still needs to secure project finance for the construction of the production buoy but these uncertainties look to be reflected in a share price which has nearly halved year-to-date.

GL
Oz

[Jon_Schnee]

Zitat von Jon_Schnee: Morgen: Fram-in

Multi-Well Programme Secured to Accelerate Development of Newfoundland Assets

http://www.enegioil.com/admin/data/uploads/pdf/news/2013/ene…

Enegi and BSE intends to enter into a definitive Farm-in Agreement (“the Farm-In”) by 12 July 2013;


BSE = Black Spruce Exploration Corp. = http://www.blspexp.com/

Noch keine News zu Farm-in. Vermutlich nächste Woche.

[Jon_Schnee]

Clever Buoys to Make Uneconomic Fields Work - Rigzone:
http://www.rigzone.com/news/article.asp?hpf=1&a_id=127668

[Jon_Schnee]

Zitat von Jon_Schnee: Clever Buoys to Make Uneconomic Fields Work - Rigzone:
http://www.rigzone.com/news/article.asp?hpf=1&a_id=127668

hier noch auf eine gute Frage:
(facebook enegi)

Mark Whitby:
Great news on Antrim, lets hope for much more to come on this, funding details etc. But this could be the start of some big developments here. Once field development starts this technology could snowball. With this and BSE things are looking highly prospective here. Any reason Antrims share price was up nearly 40% and enegi s hasn't moved. The field was deemed of zero worth to Antrim, now it has added 40% because of the enegi farm in. Why hasn't this affected enegi s sp as this is now a totally new asset in effect from nothing as with Antrim. Explanation anyone?


Meine Antwort: Enegi ist derzeit out... Management kann nur weiterarbeiten (meiner Meinung nach machen sie einen guten Job) und hoffen das Enegi bald "a place to be" wird.

[Jon_Schnee]

Newfoundland Update

15 July 2013http://www.enegioil.com/admin/data/uploads/pdf/news/2013/ene…

Enegi, the independent Oil and Gas Company with a portfolio of assets located in the UK North Sea, Newfoundland Canada, Ireland, and Jordan today provides the following update on its partnership in Newfoundland with Black Spruce Exploration (“BSE”). As announced on 12 June 2013, Phase 1 includes the drilling of three appraisal and development wells in PL2002-01(A), consisting of two new wells and a rework of the existing Garden Hill Field PaP#1-ST-#3 well.

The Company is pleased to announce that BSE have now concluded its technical due diligence review. Based on the results, the Company and BSE plan to drill at least one of the two new wells on PL2002-01(A) in 2013, after the arrival of BSE’s drilling rig in western Newfoundland. This is anticipated to be in the Autumn of 2013.

The Company and BSE continue to work towards completing a definitive Farm-in Agreement (“the Farm-In”). As such the Letter of Intent, which initially provided for completion no later than 12 July 2013, has been extended. This will allow the parties to incorporate additional collaboration procedures to accelerate the planning and execution of a multi-well program over the Company’s acreage in Newfoundland. The Company and BSE expect to conclude the Farm-In Agreement imminently and will advise when appropriate.

Alan Minty, CEO of Enegi, commented:

“We are delighted that BSE agree with the need to drill at least one new well on PL2002-01(A) in 2013. BSE undertook a rigorous due diligence review of the Company’s technical data, using renowned experts in geology, geophysics, and reservoir engineering, and we are enthused that following this, BSE continues to share our long held view of the exceptional potential and prospectivity of our Newfoundland assets.

By committing to drill up to 12 wells for a 60% interest in Enegi’s Newfoundland assets under the Farm-In, and noting that the cost of each well will be significant, BSE has already demonstrated the inherent value of Enegi’s Newfoundland assets.

We look forward to working with BSE and providing further updates as activity on our acreage accelerates.”


David Murray, CEO of BSE, commented:

“Based on the extensive data set that Enegi has acquired to date and the presence of a producing well in PL2002-01(A), with trade routes already established, we have taken the decision that it would be in the interest of all stakeholders to drill at least one well on PL2002-01(A) this year after
the rig arrives in western Newfoundland this coming fall. Having already invested upwards of US$25 million in purchasing a drill rig, piping, and associated equipment, we believe this course of action has the highest potential in realising revenues in the shortest amount of time.

The drill rig is currently being fitted out in Houston, with the intent to mobilise this to Newfoundland as soon as the fitting out process is completed and regulatory approval is secured.”

[Jon_Schnee]

Eine Woche Ferien in Schwarzwald war klasse, super schöne Landschaften und malerische Städtchen und Dörfer und die Dorffester haben es in sich .)
Mehr als eine Alternative zu Spanien, Italien etc...

Leider ist Farm-In (noch) nicht definitiv. Ein wenig Enttäuschend finde ich... Hoffen wir das Enegi und BSE bald Nägel mit Köpfen machen.

[Jon_Schnee]

Northland Capital Partners view on the City - Enegi Oil:

http://www.proactiveinvestors.co.uk/columns/northland-capita…

[Jon_Schnee]

ein paar Neue Facebook Einträge:

Stuart Hayes:
Yawn. Shareholder value?

Mark Whitby:
Good progress being made, enegi can't make the sp go up, it will in its own time as investors see the value. Good news flow ahead from BSE and the ABT/enegi tie up which should start to turn the sp. This is looking like a great investment now. The tin pot traders want their jam. But happy to wait this one out now. Great foundations are being laid for significant upside in my view exploiting some very highly prospective assets primarily in NF and the NS.

Mark Whitby:
MESSAGE TO ENEGI! Keep up the excellent new level of comms. We need as investors a regular channel of information and from related sources as developments progress on our various assets and partnerships. The interactive investor site is now a spent force as a resource for information and reasonable opinion, now purely a traders platform, so information on this site and updates are most welcome for the many investors in this company. Keep up the good work.

[Jon_Schnee]

Newfoundland Farm-In Completed and £2.018 million Placing

http://www.enegioil.com/admin/data/uploads/pdf/news/2013/ene…

HIGHLIGHTS:

 Completed definitive Farm-In agreement with Black Spruce Exploration

 First well of multi-well drilling program to be drilled in PL2002-01(A)

 Placing to raise £2.018m (before expenses) through the issue of 24,882,944 new ordinary shares at an average price of 8.11 pence per share


Enegi, the independent Oil and Gas Company with a portfolio of assets located in the UK North Sea, Newfoundland Canada, Ireland, and Jordan, is pleased to announce that, further to the Company’s announcement on 12 June 2013, it has entered into a definitive Farm-In Agreement with Black Spruce Exploration (“BSE”) in relation to Enegi’s Newfoundland assets, PL2002-01(A), EL1116 and EL1070 (together “the Assets”) (“the Farm-In”).

Under the Farm-In, BSE will pay 100% of the costs associated with the execution of a multi-well drilling program over the Assets, to be implemented over two phases. Work has already commenced on defining a drilling program for a new well on PL2002-01(A), to be drilled this year following the anticipated arrival of BSE’s drilling rig in Newfoundland in Autumn 2013. This new well will target and appraise the hydrothermally enhanced dolomite (“HTD”) reservoir within the conventional, proven oil bearing Aguathuna Formation. The Aguathuna Formation has been proven to be oil bearing through previous drilling activity in the region, and most recently by the Company’s producing well, PAP#1-ST#3.

In addition, the Company is pleased to announce that it has raised £2.018 million (before expenses) through a placing of 24,882,944 new ordinary shares of 1 pence each (“Ordinary Shares”) with new investors at an average price of 8.11 pence per Ordinary Share.

Farm-In Details

BSE will pay 100% of the costs associated with the execution of a multi-well drilling program over the Assets, to be implemented over two phases.
Under Phase 1, BSE will drill four new wells and rework PAP#1-ST#3. The four new wells will consist of one exploration well on EL1116, one exploration well on EL1070, and two appraisal wells in PL2002-01(A). Subject to securing necessary regulatory approvals, BSE is required under the Farm-In to spud each Phase 1 well within six months of completion of the previous Phase 1 well. Upon drilling an exploration well in each of the Exploration Licences, BSE will earn a 50% interest in that respective Exploration License. BSE will be required to drill the two appraisal wells on PL2002-01(A) and rework PAP#1-ST#3 before earning a 50% interest in PL2002-01(A).

Under Phase 2, BSE will be able to drill seven additional wells to earn a further 10% working interest in the Assets.

The Company and BSE have also, under the Farm-In, agreed an Area of Mutual Interest (“AMI”) under which both companies will have the right to participate in the acquisition of any AMI assets at a 60% interest to Enegi and a 40% interest to BSE. The participation rights will be adjusted to a 60% interest for BSE and a 40% interest for Enegi once BSE completes Phase 2.

PaP#4 Well

Phase 1 of the multi-well drilling program over the Assets will commence with the drilling of a new appraisal well in PL2002-01(A), provisionally called PaP#4, to be drilled this year following the anticipated arrival of BSE’s drilling rig in Newfoundland in Autumn 2013.

The rationale for drilling PaP#4 is to penetrate a zone of enhanced reservoir quality that has been continuously recharging the pressure of, but is currently in poor connection with, the reservoir immediately adjacent to PAP#1-ST#3. As announced on 14th May 2012, McCaffrey Consulting Services Ltd. (“McCaffrey”), an independent consultant engaged by the Company, concluded that test data indicated PAP#1-ST#3 was in contact with in excess of 61.5 million barrels of Stock Tank Oil Initially In Place (“STOIIP”). Since then, PAP#1-ST#3 has been flowed significantly and there is still negligible reservoir pressure depletion. As such, the Company has internally updated the calculations originally completed by McCaffrey, which now indicates the Well is in connection with in excess of 100 million barrels STOIIP. Cumulative production from the existing Well, the previous ST#2 side-track and the original PaP#1 wellbore now totals over 37,500 BO and nearly 90,000 MMscf gas.

Over the coming weeks, the Company and BSE will work closely together to finalize the location of PaP#4. To facilitate this, it is noted that reservoir pressure modeling has revealed the presence of a partial barrier to flow, that is, a zone of restricted pressure recharge, at a certain distance from PAP#1-ST#3. This distance is consistent with the Company’s geological model for PL2002-01(A), which has been independently verified by Deloitte of Calgary, which indicates PAP#1-ST#3 is on the edge of a zone of greater reservoir quality and connectivity, as a result of greater HTD development.

Placing

The Company is also pleased to announce that it has raised £2,018,500 ( before expenses) by way of a placing of 24,882,944 new Ordinary Shares ( “Placing Shares”) with new investors at an average price of 8.11 pence per new Ordinary Share (“Placing Price”) (“Placing”). The Placing Price is at a premium of approximately 12% per cent. to the closing bid market price on 23rd July 2013, being the last dealing day prior to this announcement.

13,445,378 of the Placing Shares have been purchased by BSE through their affiliate company Foothills Northwest Holdings Corporation pursuant to the
Farm-In.

YA Global Master SPV Ltd (“YA”) has subscribed for the remaining 11,437,566 Ordinary Shares, raising £818,500.00 before costs. Of the £818,500.00, Enegi has entered into an Equity Swap with YA in respect of £150,000.00. The period of the Equity Swap is 6 months. The Equity Swap element allows the Company to secure the potential upside arising from anticipated near term news flow.

The Equity Swap Agreement provides for payment to the Company of £25,000.00 via 6 monthly instalments as measured against a benchmark price of 7.78p per share ("the Benchmark Price"). If the measured share price exceeds the Benchmark Price, for that month, the Company will receive more than 100 per cent of the monthly settlement due on a pro rata basis. There is no upper limit placed on the additional proceeds receivable by the Company as part of the monthly settlements. Should the measured share price be below the Benchmark Price, the Company will receive less than 100 per cent of the expected monthly settlement on a pro rata basis.

Under no circumstances can YA require Enegi to issue any additional shares pursuant to the Equity Swap, and YA and its affiliates are prohibited from holding any net short position in Enegi shares.

The net proceeds of the Placing are expected to primarily be used to facilitate the Company’s initial work commitments under the Fyne Oil Field Farm-In as announced by the Company on 2 July 2013.

Application has been made to the London Stock Exchange for the Placing Shares, which will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on AIM (“Admission”). It is expected that such Admission will occur at 8.00 a.m. on 30 July 2013. The Placing Shares will represent approximately 15.86 per cent of the Company’s issued share capital immediately following Admission.

Following admission, the Company's issued share capital will consist of 156,906,526 Ordinary Shares, all with voting rights with no shares held in treasury. The total number of current voting rights in the Company will therefore be 156,906,526. This figure (156,906,526 Ordinary Shares) may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company.

Alan Minty, CEO of Enegi, commented:
“We are delighted to have entered into this Farm-In with Black Spruce. This agreement, as well as Black Spruce’s other recent transactions, is hugely significant for the development of our Newfoundland assets and for the region as a whole.

We look forward to the multi-well drilling campaign, which is expected to kick off this year with the drilling of PaP#4, and to the significant increase in value such activity will add to our assets”.

David Murray, CEO of BSE, commented:
“Our transaction with Enegi is a valuable addition to the land consortium that BSE has sought to assemble to become the leading player in Western Newfoundland. We believe that these assets will form the core of our portfolio in this region and look forward to working with Enegi and all our stakeholders to not only develop these assets, but to build Western Newfoundland into the oil and gas province that it has the potential to be.”

[Jon_Schnee]

Fyne Oil Field Update

http://www.proactiveinvestors.co.uk/companies/rns/130724eneg…

Enegi, the independent Oil and Gas Company with a portfolio of assets located in the UK North Sea, Newfoundland Canada, Ireland, and Jordan are pleased to provide the following update on the Fyne Oil field project.

Enegi, along with its Joint Venture partner ABTechnology ("ABT"), agreed with Antrim Resources (N.I.) ("Antrim") to prepare an amended Field Development Plan for the development of the Fyne oil field using a production buoy facility. Further to that agreement, Wood Group PSN, has been contracted by ABT to commence pre-FEED and FEED studies in order to facilitate the completion of the Field Development Plan and submission of the Environmental Statement required to gain approval from DECC for this development.

These studies will refine the generic production buoy design in order to incorporate the specific requirements that are associated with the Fyne oil field and are expected to be completed to sufficient detail in the autumn.

Antrim has previously undertaken a significant element of the FEED work on the subsea design when working on alternative production solutions. As such, a substantial proportion of the project is already well progressed and will be incorporated in to the revised Field Development Plan.

ABT and Wood Group formed a strategic partnership in May 2011 in order to commercialise unmanned production buoy technology. The commencement of this programme of work demonstrates that the partnership is working effectively and re-affirms both parties belief that buoy technology has the potential to successfully be used to develop marginal oil fields.

Alan Minty, CEO of Enegi, commented:

"We are delighted to have Wood Group PSN working with us on this project given their capability and expertise. Considerable progress has already been made on the pre-FEED and FDP since we entered this project with all the partners working together to ensure that the deliverables are completed on schedule and the final FDP is delivered to DECC in good time.

"We look forward to providing further updates on Fyne as the project progresses."

Dave Stewart, UK Managing Director Wood Group PSN, commented:

"ABT's buoy solution offers an exceptional opportunity to develop a significant proportion of reserves in the North Sea, as well as globally, that would otherwise remain untapped. We are very excited to be working with the partners in providing an innovative development solution for the Fyne Field and look forward to working on further marginal field projects with the ABT and Enegi teams in the future."

[Jon_Schnee]

Antwort auf Beitrag Nr.: 45.102.837 von Jon_Schnee am 24.07.13 09:24:17

Zusammenfassung:

Enegi Oil: Newfoundland drilling pencilled in for autumn as Black Spruce deal closes

http://www.proactiveinvestors.co.uk/companies/news/59328/ene…

By Jamie Ashcroft July 24 2013, 7:47am

Enegi Oil (LON:ENEG) has confirmed the completion of its deal with Black Spruce Exploration (BSE), which will now take control of the group’s assets in Newfoundland.

BSE will take on 100% of the costs of a multi-well drill programme.
Through the two-phase programme it will initially earn a 50% stake in the projects, and this can be increased to 60% with the completion of a further seven wells in phase two.

On the ground BSE is now expected to move quickly with the first well on the project scheduled for the coming autumn.

This comes as the Canadian oil firm has acquired other interests and built a portfolio of assets in the western Newfoundland area. It says the Enegi acreage will form the core of this portfolio.

Under the terms of the definitive farm-out BSE will be required to drill the each of the four initial commitment wells in phase one within six months of the previous well’s completion.

"We are delighted to have entered into this farm-in with Black Spruce. This agreement, as well as Black Spruce's other recent transactions, is hugely significant for the development of our Newfoundland assets and for the region as a whole,” said chief executive Alan Minty.

“We look forward to the multi-well drilling campaign, which is expected to kick off this year with the drilling of PaP#4, and to the significant increase in value such activity will add to our assets."

Enegi also announced that BSE, via its affiliate company Foothills Northwest, has participated in a premium-priced share placing, buying 13.4mln shares.

In total, Enegi has raised £2mln through a share placing, with 24.8mln new shares being issued to new investors at 8.11p each, which is a 12% premium to the closing share price on the day before the fund-raising was announced.
The other 11.4mln new shares, worth £818,500, have been bought by Yorkville Advisors YA Global Master fund. Of that, £150,000 is being subscribed for under an equity swap agreement whereby the company will receive £25,000 per month from Yorkville for six months.

The new cash is earmarked for Enegi’s work on the Fyne field project.
Enegi, in a separate statement, gave investors an update on the progress of the Fyne project.

It has now confirmed that oil services and engineering firm Wood Group has been contracted for the project.

In partnership with AB Technology, a specialist company set up by Alan Minty, it is working on an unmanned floating production solution to commercialise Antrim Energy’s (LON:AEY) 11.8mln barrel Fyne field in the North Sea.

Wood is providing pre-FEED and FEED (front end engineering design) studies that will form an important part of the new field development plan for Fyne.

The studies will refine the generic production buoy design for Fyne’s specific requirements, and, according to Enegi, they will be complete in the autumn.

“Considerable progress has already been made on the pre-FEED and FDP since we entered this project with all the partners working together to ensure that the deliverables are completed on schedule and the final FDP is delivered to DECC in good time,” Minty said.

[Jon_Schnee]

Super News

Newfoundland Farm-In ist geschlossen. Black Spruce Exploration beginnt mit der Arbeit. Black Spruce Exploration bekommt einen Antail vom 50-60% durch ein "multi-well drilling program". Erste Bohrung sollte im Herbst gebohrt werden.

50% = Under Phase 1, BSE will drill four new wells and rework PAP#1-ST#3.

PAP#1-ST#3 ist ein Bohrloch das anscheinend schon 20'000 Barrel gefördert hat. Hier sollten noch Verbesserungen angebracht werden. Ich bin gespannt auf die tägliche Barrel Angabe von diesem Bohrloch.

[Jon_Schnee]

Antwort auf Beitrag Nr.: 45.103.407 von Jon_Schnee am 24.07.13 10:30:32

wieder über 8 cents. so kanns weiter gehen

[Jon_Schnee]

North Sea update – Block 3/23a

http://www.enegioil.com/admin/data/uploads/pdf/news/2013/ene…

Enegi, the independent Oil and Gas Company with a portfolio of assets located in the UK North Sea, Newfoundland Canada, Ireland, and Jordan is pleased to provide an update on North Sea Licence P1974 containing the Malvolio prospect in Block 3/23a (“the Block”). Further to the announcement of 31 January 2013, the Company confirms that, through the activities of Azimuth Limited (“Azimuth”), the Company has fulfilled the initial licence requirements by acquiring 100km2 of 3D seismic data over the Block and surrounding area.

Azimuth has also commenced a detailed programme of work utilising leading edge techniques and the modern, reprocessed 3D seismic, to assess the hydrocarbon potential of the exploration acreage on the Block, and to enhance the understanding of the Malvolio prospect, which is down dip from the Chevron drilled 3/23b-3 well. This will help determine whether Malvolio is suitable to be developed using ABTechnology’s unmanned buoy solution.

Enegi expects to be able to provide further updates in the autumn as the work programme progresses.

The Company continues to explore the potential of developing stranded assets through dedicated marginal field development facilities and will provide further updates on this and other projects as they progress.

Alan Minty, CEO of Enegi, commented:
“We are delighted with the progress that has been made to date on this project. This programme is expected to greatly increase our understanding of this acreage as well as the potential it has. We also expect the work to significantly de-risk the Malvolio prospect as well as to enable us to determine the feasibility of developing Malvolio using ABTechnology’s buoy solution.

We look forward to providing further updates in due course.”


David Sturt, COO of Azimuth Ltd, commented:
"Azimuth is very pleased to be progressing this exciting project. Azimuth will use its advanced Geology and Geophysics workflow to assist the partnership to simultaneously de-risk the development potential of the Malvolio prospect whilst in addition demonstrating the exploration upside within the whole License area."

[Jon_Schnee]

Antwort auf Beitrag Nr.: 45.119.453 von Jon_Schnee am 26.07.13 09:55:43

Enegi Oil partner Azimuth looking at hydrocarbon potential of North Sea licence


http://www.proactiveinvestors.co.uk/companies/news/59422/ene…

By Jamie Nimmo July 26 2013, 8:17am Work by Azimuth will determine whether Malvolio is suitable to be developed using ABTechnology’s unmanned buoy solutionWork by Azimuth will determine whether Malvolio is suitable to be developed using ABTechnology’s unmanned buoy solution

Enegi Oil (LON:ENEG) has revealed that farm-out partner Azimuth has started a detailed programme assessing the hydrocarbon potential of the exploration acreage on a North Sea licence.

Exploration and production specialist Azimuth is using cutting edge techniques and modern reprocessed 3D seismic data to get a better grasp of the Malvolio prospect.

This will help determine whether Malvolio is suitable to be developed using ABTechnology’s unmanned buoy solution.

ABT is a specialist company set up by Enegi chief executive Alan Minty, which is working on an unmanned floating production solution to commercialise Antrim Energy’s (LON:AEY) 11.8mln barrel Fyne field in the North Sea.

It comes as the company revealed it has fulfilled the initial licence requirements by acquiring 100 square kilometres of 3D seismic data over the block and surrounding area.

Minty said: “We are delighted with the progress that has been made to date on this project.

“This programme is expected to greatly increase our understanding of this acreage as well as the potential it has.

“We also expect the work to significantly de-risk the Malvolio prospect as well as to enable us to determine the feasibility of developing Malvolio using ABTechnology's buoy solution.”

David Sturt, Azimuth’s chief operating officer, added: “Azimuth is very pleased to be progressing this exciting project.

“Azimuth will use its advanced Geology and Geophysics workflow to assist the partnership to simultaneously de-risk the development potential of the Malvolio prospect whilst in addition demonstrating the exploration upside within the whole License area.”

[Jon_Schnee]

Antwort auf Beitrag Nr.: 45.119.479 von Jon_Schnee am 26.07.13 09:58:34

Frustration macht sich breit. Newsflow ist gut. Nicht Super, aber gut.
Aber Aktienkurs kann sich nicht gross von den Tiefs lösen. Hier ein paar Meinungen dazu:

Stuart Hayes:
And the shareprice falling....

Craig Williamson:
As usual!

David E:
Hampton Maybe they should just stop issuing RNS's and keep the SP up that wayÜbersetzung anzeigen


Mark Whitby:
This news would have taken the company above 40p a couple of years back. We need a bit more meat on the bones to get this moving. A deal in place to finance a buoy implementation and a drill date with a time line. Once the drill bit hits the soil this should move quickly. Potential for over a quid a share but they need to deliver a revenue stream to start this moving in the right direction. Aim needs exceptional results at the moment to deliver good gains.Übersetzung anzeigen


Peter Alderson:
Yes very frustrating!At least we now have an organisation with the financial strength needed to develop the Newfoudland Licences not just focussing on PaP1 to little apparent advantage. In my opinion if the sp does fall back at least we are pretty sure it is not a terminal decline. I agree with Mark that we need a good revenue stream before the sp will recover. Role on 2014.Übersetzung anzeigen


David E Hampton:
Unfortunately the low sp whilst frustrating for private investors is detrimental to the company's expansion. At least the increased number of shares in circulation has kept the mc at over £10m lol

[Jon_Schnee]

Black Spruce eager to drill

Published on July 27, 2013
Ashley Fitzpatrick
http://www.thetelegram.com/News/Local/2013-07-27/article-332…

Company has plans to start conventional well in western Newfoundland

Topics : Enegi Oil , Department of Environment , Ptarmigan Energy , Newfoundland , Manchester , U.K.

It may not be fracking, but Black Spruce Exploration will go ahead and drill standard wells if it means it can begin the hunt for oil in Newfoundland and Labrador.

The company has committed to obtaining all required permits for its work and, according to company representatives, that work could start by mid-October if the required permitting goes smoothly.

Black Spruce has agreements in place allowing it access to much of the exploration area in western Newfoundland. It has just closed a deal with Enegi Oil — based in Manchester, U.K. — providing access to three of that company’s licence areas, including near the Garden Hill site on the Port au Port Peninsula, where Enegi has a well that has produced oil.

Black Spruce will have 100 per cent control over a planned multi-well drilling program.

“We have decided ... it would be in the best interest of all stakeholders to drill at least one well on (the licence area) this year after the (Black Spruce drill) rig arrives in western Newfoundland this coming fall,” Black Spruce Energy CEO Dave Murray stated in a news release.

“Having already invested upwards of US$25 million in purchasing a drill rig, piping and associated equipment, we believe this course of action has the highest potential for realizing revenues in the shortest period of time.”

Black Spruce vice-president Derek Sullivan told The Telegram his company will select an exact location for its first well in the area and will file for environmental assessment in the coming weeks.

“Our intention right now is to drill that as a conventional well — no hydraulic fracturing,” he said.

The provincial Department of Environment confirmed no proposals to engage in controversial fracking operations in western Newfoundland have been submitted by Black Spruce Exploration, or any other operator.

Sullivan said his company is not ruling out fracking wells in the future, but will focus for now on importing rigs and getting active with standard wells in western Newfoundland.

Sullivan said the in-depth discussions between Black Spruce Exploration and Enegi Oil allowing for the new plans began back in May, with the leadership team from Black Spruce making two subsequent visits to Enegi offices in Manchester — one to sign a letter of intent to explore potential partnerships and one as some due diligence on the agreement was completed.

Black Spruce is still in the process of prepping and shipping a rig from Houston for drilling. The company will also bring in a second, somewhat smaller, service rig, Sullivan said. That second rig has yet to be secured.

The company has a partnership agreement with Ptarmigan Energy and a farm-in agreement with Shoal Point Energy for other areas on the island’s coast.

On Shoal Point Energy, Sullivan said his company has been in discussions with the new management, but not regarding Shoal Point’s recently announced, revised financial filings.

[Jon_Schnee]

Kurs auf 9.5p. So langsam löst sich der Kurs von den Tiefen des Ozeans. Von einer Trendwende kann noch keine Rede sein. Fühl mich nun ein wenig wohler. In ein fallendes Messer (mein Einstandkurs 8.25p) zu greifen ist Sache für Weicheier

[Jon_Schnee]

sehe ich auch so. sell off ist vorbei.
hier bildet sich ein boden aus.

bin mit 7.25p rein. war fast 52 wochen tief.
danach gings ein wenig rauf, dann finaler sell off auf 6.7.5
und jetzt fast auf 10p

hoff das war wirklich der Boden. Gute News sollten noch kommen.

Mein Ausstieg Szenario

Negatives Szenario ca. 6.70p
Positives Szenario: schaun wir mal

--------------

Consolidated13 Aug '13

http://www.lse.co.uk/ShareChat.asp?ShareTicker=ENEG&share=en…

The big seller has taken this down to unprecedented levels. I would expect though soon this should start a steady tick up as that downward pressure is gone. The seller looks to be out now I have seen over 10 million in big chunks pushed through the market in the last couple of weeks. Some news on BSE s progress should see the beginning s of a climb back to reasonable levels. If we are talking an initial two drills paid for on Garden Hill, this should start having a big impact on market expectations of a successful drill campaign, which could potentially see this many fold higher than the present 10 mil market cap . Possibly the best time to be in this one with ABT developments looking like a dark horse here. Gl all in

[Jon_Schnee]

wir hängen hier in der Warteschleife... Gute News sollten bald kommen. Ich gebe Enegi noch bis Ende Jahr Zeit für die News... Wenn nix passiert, verkaufe ich.

[Jon_Schnee]

Black Spruce Exploration to Start Conventional Drilling
Friday , September 13 2013
http://www.vocm.com/newsarticle.asp?mn=2&id=38453&latest=1

Black Spruce Exploration is set to begin conventional drilling in the Garden Hill area of the west coast this fall. CEO Dave Murray says they'll examine the results from the five wells, and are hopeful the findings will be enough to continue drilling. Murray says without guidelines set for hydraulic fracturing, they will proceed with conventional drilling at a number of identified targets.

Murray says they've received some 300 applications for jobs so far, and are planning a job fair later this month to ensure they have the right people in place to conduct their operations.

[Jon_Schnee]

Chairman's Update on Strategy
http://www.proactiveinvestors.co.uk/companies/rns/130916eneg…

Enegi, the independent Oil and Gas Company with a portfolio of assets located in the UK North Sea, Newfoundland Canada, Ireland, and Jordan is pleased to provide the following update on the Company's strategy.

Highlights:

· Farm-out of Newfoundland assets expected to enable full potential of those assets to be realised as investment and operational responsibility transfers to Black Spruce Exploration

· Strategy is to continue to build a portfolio with additional emphasis of low risk, highly-appraised marginal assets, with a low entry cost.

· Development of assets will utilise appropriate and proven technology including ABTechnology's ("ABT") buoy solution

· A Joint Venture with ABT, as announced on 29 May 2013, will now be renamed ABT Oil & Gas

· The new strategy is already delivering:
- Fyne Field farm in announced on 2 July 2013
- ABT Oil & Gas is also in negotiations with a number of other operators

Alan Minty, Chairman of Enegi commented:

"After what has been a transformational few months, Enegi's management team have refined the focus and strategy of the Company and we are pleased to provide this update to shareholders.

We will continue to build a diverse portfolio assets, but with a strong emphasis on acquiring interests in marginal fields. These assets are low risk and highly-appraised and, consequently, our entry cost will be low. We will look to develop these assets utilising ABT's buoy technology, an appropriate solution which changes the development economics, enabling the early booking of reserves and further development projects.

The implementation of this strategy is already well underway with the commencement of work on the Fyne oil field and negotiations are continuing as we look to add further assets to our portfolio. This is a very exciting time in the Company's development."

Strategy Update
Background

From its incorporation Enegi's stated objective has been to build a portfolio of oil and gas assets incorporating each of the phases of the exploration and production life-cycle, but with a particular weighting towards appraisal and development assets that can be managed through to production. Geographically, the focus was on western Newfoundland which management and investors believed offered a significant opportunity, albeit in an undeveloped hydrocarbon basin.

At the time that the original plan was devised the financial landscape was very different and in the intervening period financial institutions have significantly curtailed investment across all sectors and projects and junior oil and gas companies which are so reliant upon the financial markets for capital to develop frontier plays have felt the effect more than most.

The Company has always believed that to fully develop the petroleum system in Newfoundland, additional investment would be needed. The prize in western Newfoundland is potentially very significant with data indicating that the Garden Hill field alone is in contact with over 100MMBO. However, as with all major hydrocarbon plays many wells are needed to clearly delineate the reservoir and determine the most appropriate engineering solution, all of which are expensive given the frontier nature of the region. Even with a well flowing at over 1,000 bbls/day, full development would take many years, perhaps longer as financial institutions become less willing to invest in appraisal activity in a frontier territory.

Consequently, Enegi's management spent a great deal of time and resources in "working up" the Company's assets to the point where the full nature of the opportunity could be clearly defined and communicated to potential partners. The objective was to attract a partner with the technical and financial capability to implement the plans that the Company defined at the outset. After discussions with many potential partners the Company was delighted to conclude a transaction with Black Spruce Exploration ('BSE') who intend to develop the play in western Newfoundland.

Forward Strategy

Management understands the need to diversify its portfolio and to do that at low cost; the avoidance of risk concentration is therefore a cornerstone of its strategy. The Company also realised that financial institutions are less willing to provide funds for junior oil and gas companies for assets that have higher perceived subsurface risk. Management's plan for the development of the Company acknowledges the constraints typically associated with the financing of junior oil and gas companies and is focused on shifting the Company's attention onto assets where the subsurface risk has been, to a large extent, removed. Furthermore, management is committed to delivering a solution which generates sufficient returns to satisfy the requirements of financial institutions and investors.

The main premise of the model is the application of appropriate and proven technology towards the creation of an economic development solution for an asset. This solution, often not considered by other operators, in many instances creates unanticipated value for the asset owner; value which can be acquired, in exchange for the provision of the solution, at a cost that is significantly cheaper than the prevailing market rates. Hence, the model allows Enegi to bring further reserves into the Company - reserves which have a tangible value and provide the Company with the ability to open up other financing opportunities to develop such projects, rather than by diluting shareholders.

The first stage of the implementation of the plan for Enegi was to reach a joint venture agreement with ABTechnology to work with it on the application of buoy technology. This was signed on 29 May 2013and the joint venture will now be called ABT Oil & Gas.

ABT Oil & Gas will only consider projects that are based upon discovered hydrocarbons. This means that costly exploration risk is removed, allowing Enegi to ensure that its capital budget is allocated to value creation. Additionally, the current reluctance of financial institutions to fund exploration risk suggests that the timing of the business model might be preferential to more traditional investment models.

Implementation of Strategy

One of the key elements in the successful implementation of the business model is that ABT Oil & Gas is the industry leader and has exclusive access to the technology that it advocates. This has two main benefits, firstly it creates a strong negotiating position and secondly, it allows Enegi to be able to benefit from returns both from the hydrocarbon asset and also from application of the technology. This is particularly important in being able to construct the appropriate financial model for each development.

The strategy is not one that is purely conceptual; it has been rigorously tested through consultation with the industry, where discussions are ongoing with a number of operators, and proven through the transactions that have been concluded to date. The extensive attention that the business model is receiving indicates that transactions such as the Fyne oil field farm-in are repeatable, certainly in the medium term.

Via this "novel" approach to the development solution a significant increase in value can be generated. Furthermore, through the application of appropriate and proven technology this increase in value can, in many projects, create a return profile that exceeds the normal operator hurdle rates required to sanction the development of an asset. Consequently, Enegi believes that this model will make a project significantly more attractive to financiers and operators alike.

The implementation of the strategy is already delivering results. In partnership with ABT, Enegi has agreed a deal with Antrim Energy for the Fyne oil field and has secured two licences in the UKCS with a view to using ABT's buoy solution to develop them. Interest in this business model is high and ABT Oil & Gas is in discussions with a number of operators and have identified a number of strong, unlicensed targets. Management anticipates sustained growth in the value of the Company as projects and solutions are added and progressed and as risks associated with a number of projects are reduced once the first field reaches production.

[Jon_Schnee]

Enegi Oil to focus on marginal fields
By Ian Lyall September 16 2013, 7:51am
http://www.proactiveinvestors.co.uk/companies/news/61119/ene…

Enegi Oil (LON:ENEG) has confirmed its focus will be on the development of marginal fields, with its ABTechnology partnership at the vanguard.

ABT uses giant buoys rather than full-fledged platforms to extract oil – allowing it to keep costs down and therefore transforming the economics of fields.

The first project for Enegi and ABT will be farm-in on the Antrim Energy-owned Fyne Field in the North Sea.

And it revealed on Monday it is in negotiations with other operators.

The company’s farm-out of its Newfoundland assets to Black Spruce Exploration, which becomes the operator, will enable their full potential to be realised, Enegi said.

Chairman Alan Minty told shareholders: "After what has been a transformational few months, Enegi's management team have refined the focus and strategy of the company and we are pleased to provide this update to shareholders.

“We will continue to build a diverse portfolio assets, but with a strong emphasis on acquiring interests in marginal fields.

"These assets are low risk and highly-appraised and, consequently, our entry cost will be low.

"We will look to develop these assets utilising ABT's buoy technology, an appropriate solution which changes the development economics, enabling the early booking of reserves and further development projects.”

[Jon_Schnee]

Antwort auf Beitrag Nr.: 44.955.651 von Jon_Schnee am 30.06.13 18:55:47

auf Facebook Seite von Enegi. Dieser User spricht mir aus dem Herzen. Der grösste Feind von Enegi ist Enegi selbst:

Endlich war die der Laden wieder auf den Weg nach oben, hauen sie solche unnötige News raus... lange mache ich das Trauerspiel nicht mehr mit.
Das einzige Gute ist, das ich noch knapp im Plus bin.

Marco Gabbiadini: Sickening last two days, after many months waiting for sentiment to improve. It starts to take a turn for the better with broker buy recs coming in on the back of the BSE press release from over sees as far as Japan, we have been waiting for break out at 9.8p for a long time then its in the mid teens and on from the technicals. This was about to happen, then this diabolical rns of no substance only to say revenue from ABT is an age away. We now go back to square one. Enegi seem to be there own enemy, what a disappointment this is and so unnecessary. Enegi have to now do something big to make amends. Sickened for all long suffering share holders.

[Jon_Schnee]

Director Dealing

http://www.enegioil.com/admin/data/uploads/pdf/news/2013/ene…

The Company has been informed that Dominic Minty has purchased 1,600,000 ordinary shares in the Company from RMRI Plc, which is part of the RMRI group of companies ("RMRI Companies") controlled by Alan Minty, Chairman and Chief Executive Officer of Enegi. The purchase has been made at average price of 9p per share and has been undertaken in an Over the Counter Transaction (“OTC”).

Alan Minty has not changed any of his own shareholding and his interest in the Company in his own right and through related parties following this

transaction is as follows:
Alan Minty 7,608,911 shares
RMRI Companies 3,161,377 shares

Alan Minty's interest in Enegi therefore totals 10,770,288 shares, representing 6.86 per cent of the Company's issued share capital.

[Jon_Schnee]

Verkauf 0.0825 GBP

Grund: Potential ist duchaus vorhanden, aber hier spielt einfach nicht die Musik. Zudem möchte ich meine Positionen reduzieren.

[Jon_Schnee]

14/10/13

Enegi Oil: Shore Cap points to catalysts as it values stock at 33p per share

“Enegi has been around as a listed company for quite some time and it has not always been easy but I think they are now on a clear roadmap going forward, I just think we now just need to see some more evidence of delivery,” analyst Craig Howie said.

mehr: http://www.proactiveinvestors.co.uk/companies/news/62128/ene…

[Jon_Schnee]

Independent Research Reports

Shore Capital ABT Oil and Gas Report
http://www.enegioil.com/research_reports.php

[Jon_Schnee]

Enegi Oil: Buoy technology could cut development costs by US$300mln
http://www.proactiveinvestors.co.uk/companies/news/63428/ene…

Enegi Oil moves into Celtic Sea with Providence Resources tie-up
http://www.proactiveinvestors.co.uk/companies/news/63168/ene…" target="_blank" rel="nofollow ugc noopener">http://www.proactiveinvestors.co.uk/companies/news/63168/ene…

[Jon_Schnee]

ABTOG Shareholders enter into an Exclusive Option Agreement with Wood Group PSN

http://www.enegioil.com/admin/data/uploads/pdf/news/2013/ene…

Enegi and ABTechnology Ltd. (‘ABT’), the owners of ABT Oil and Gas (‘ABTOG’) are pleased to announce that they have entered into an option agreement (the ‘Option’) with Wood Group PSN, the international energy services company. The Option provides Wood Group PSN with an exclusive right for a period of 90 days to conclude an agreement to expand its participation in the development of the marginal field initiative, commenced by Enegi and ABT.

The parties to the Option will now enter into a period of negotiation during which Enegi, ABT and Wood Group PSN will seek to conclude discussions with regard to the structure and terms of this expanded role as well as conduct due diligence as required.

Via a framework agreement executed in 2011, Wood Group PSN is a strategic partner of ABT in the commercial exploitation of unmanned buoy technology which allows Wood Group PSN exclusivity in the provision of a number of engineering services. The recent acceleration in the development of the marginal field initiative, in terms of industry interest, project acquisition and expansion of the technology portfolio, has encouraged the parties via the Option to reassess the relationship with a view to Wood Group PSN participating more widely in the development of the business.

Alan Minty, CEO of Enegi commented:


“The execution of the Option with Wood Group PSN is further evidence of the attractiveness of the marginal field business model and reflects the progress that has been made in developing the business. The Option represents the first step in securing independent investment into this initiative. Successful conclusion of negotiations would see stronger links with a leading, global engineering services company providing access to the engineering manpower and expertise that will be needed to deliver on the many projects that it expects to secure and fulfil the potential of the marginal field initiative.

From Enegi’s perspective, successful conclusion of the discussions with Wood Group PSN would mean that both of its major initiatives, including the development of western Newfoundland after agreeing a farmout with Black Spruce Exploration (‘BSE’), have sufficient resources and the appropriate expertise to provide them with the best chance of success.
In addition, shareholders can expect the successful execution of the work contemplated by the farmout agreement with BSE and the successful funding of the marginal field initiative to have a positive impact on the Company’s future working capital requirement.”

[Jon_Schnee]

Enegi says Wood Group in discussions on expanded role in marginal oilfield alliance

http://www.proactiveinvestors.co.uk/companies/news/63997/ene…

[Jon_Schnee]

20 December 2013

Enegi Oil Plc

("Enegi" or "the Company")



Results for the year ended 30 June 2013
http://www.proactiveinvestors.co.uk/companies/rns/131220eneg…


Enegi, the independent Oil and Gas Company, today announces its results for the year ended 30 June 2013.


Highlights:


Building a portfolio of Marginal Fields:


· Creation of ABT Oil & Gas ("ABTOG"), a joint venture between Enegi and ABTechnology ("ABT")

· Strategy to focus on utilising ABTOG's suite of solutions to build a portfolio of low risk highly appraised marginal assets

· Two projects already gained:


o Enegi and ABT have agreed to farm into the Fyne oil field, central North Sea

o ABTOG have agreed to farm into the Helvick oil field and Dunmore discovery, North Celtic Sea


· Wood Group PSN contracted to carry out FEED and pre-FEED studies to facilitate the Field Development Plan on Fyne

· Exclusive agreement reached between ABT and GMC Limited ("GMC") expanding buoyant development solutions available to ABTOG

· New management team in place at ABTOG



Other Projects:

· Multi-well farm-in agreed with Black Spruce Exploration ("BSE") to accelerate development of Newfoundland assets

· Two UKCS licences awarded to Enegi in the 27th Licensing Round, each containing either a prospect or a discovery

· Interests in the exploration potential of those UKCS licences farmed out to Azimuth and work is progressing


Financial:


· Loss before tax for the year was £3,115,000 (2012: £2,375,000) increasing as a result of the Company seeking additional opportunities for the future growth of the Company.


Outlook:

Marginal Field Portfolio:


· Clear focused strategy for commercialising marginal fields

· Submission of FDP for Fyne Oil Field to the Department of Energy and Climate Change ("DECC")

· Commencement of work programme in the North Celtic Sea

· Negotiations continuing to add further marginal field assets to our portfolio

· Significant marginal field opportunities with some 261 undeveloped fields in the UKCS alone, containing a combined 5,085MMBO reserves (IHS)


Other Projects:

· Commencement of multi-well drilling programme in Newfoundland with BSE


Alan Minty, CEO of Enegi, commented:

"The Company has made excellent progress in the period under review, but my belief is that 2014 could be even more significant.

The strategic emphasis going forward will continue to be on our marginal field initiative. This initiative has seen significant interest both from industry and strategic partners as referenced by the addition of projects and the option with Wood Group PSN. Whilst we progress our current projects we are also confident that further projects can be added to our portfolio.

Western Newfoundland will also see unrivalled activity in the coming year. BSE will commence their extensive drilling programme which we believe will demonstrate the full potential of the region and increase the value of our assets.

I would like to thank management and shareholders alike for their continued support and look forward to realising the rewards from the opportunities that have been created over the last couple of years."

[Jon_Schnee]

Enegi Oil believes its marginal fields initiative has huge potential
http://www.proactiveinvestors.co.uk/companies/news/64370/ene…

By Ian Lyall December 20 2013, 8:02am

Enegi estimates there are 261 undeveloped fields around the UK that benefit from its technology that deploys unmanned buoys rather expensive platforms to exploit the oil.

Enegi Oil (LON:ENEG) believes there is significant opportunities to commercialise marginal fields via its joint venture, ABT Oil & Gas.

It estimates there are 261 undeveloped fields around the UK that benefit from its technology that deploys unmanned buoys rather expensive platforms to exploit the oil.

Its first target will be the Fyne Field off the coast of Scotland and the task next year will be to submit the field development plan.

The interest from partner Wood Group, the giant oil services group, provides endorsement of the company’s plans.

“The strategic emphasis going forward will continue to be on our marginal field initiative,” said chief executive Alan Minty.

“This initiative has seen significant interest both from industry and strategic partners as referenced by the addition of projects and the option with Wood Group PSN.

“Whilst we progress our current projects we are also confident that further projects can be added to our portfolio.”

His comments came as the group posted results for the year ended June 30.

They revealed a period of significant progress in which it also agreed a multi-well farm-in agreed with Black Spruce Exploration to accelerate development of Newfoundland assets.

Like most companies that this formative stage of its development Enegi made a loss. The shortfall was £3.1mln for the year under review. The group completed a £2mln share placing in July that places it on a financially sound footing.

[Jon_Schnee]

Operational and Corporate Update

Enegi, the independent Oil and Gas Company with a portfolio of projects located in the UK North Sea, Newfoundland Canada, Ireland, and Jordan is pleased to provide the following update.


Operational Update - Western Newfoundland

Black Spruce Exploration ("BSE") has provided an update to the Company concerning its activities in western Newfoundland and how these may affect the work programme on the Company's assets that has been previously communicated. BSE has indicated that the commencement of the work programme at Garden Hill, together with drilling of a well on EL1116, is its operational priority and it is expected that the programme will commence in or around April, 2014. BSE is currently seeking to obtain the required permissions from the regulators and the work programme remains on schedule. The Company wishes to emphasise that the recently announced moratorium with respect to fracking has no effect on these operational plans, which are targeting conventional plays.

In order to ensure that the drilling rig to be used in Newfoundland is fit for purpose for all the planned wells, and in order to minimise downtime once the overall programme commences, BSE has been undertaking certain modifications to the drilling rig, and expect those modifications to take a further 8-10 weeks to complete. Following this, BSE intend to mobilise the rig to Newfoundland and obtain the final approvals required to commence the planned drilling programme at Garden Hill in accordance with the schedule. The Company expect further production from ST#3 in the meantime, and are currently in discussion with BSE on a plan to manage production during the upcoming drilling programme.


Corporate Update


ABT Oil & Gas ("ABTOG") has made rapid progress and, as stated in recent announcements, is now working on marginal field projects in the UK Continental Shelf (Fyne Field) and the North Celtic Sea (Dunmore and Helvick discoveries). Discussions also continue with other companies and further projects are expected to be secured in the coming months. Through the ABTOG JV, Enegi expect its activities associated with marginal field developments to become a dominant part of its activities. Recognising this aspect of Enegi's business, BSE informed the Company that it wished to maintain a clear delineation between BSE's activities in Newfoundland and the Company's increasing focus on its marginal field initiative. As such, BSE indicated to Enegi that it intended to divest the majority of its shareholding in Enegi, held through Foothills Northwest Holdings Corp. ("FNW"), an affiliate of BSE, and obtained as part of the placing announced by the Company on 24 July 2013.


Noting the potential value that these shares could have, as ABTOG's progress continues, the Directors of the Company have taken the decision to acquire 12,325,378 shares from FNW at a price of 7.25 pence. These shares will be placed into treasury.

In order to facilitate the acquisition of the shares referenced above from FNW, the Company has entered into a loan agreement for £1 million. Under the terms of the loan Enegi has the right to repay the loan:



• within six months for £1,120,000 in either cash or shares (at the prevailing market value); or

• after six months and within twelve months for £1,200,000 in either cash or shares (at the prevailing market value).


As part of the transaction, BSE has agreed to pay the drilling deposit of $250,000 to the C-NLOPB for the extension of EL1116 in advance of the drilling programme in 2014. The deposit is for the benefit of the Company and when released will be released to Enegi.



Alan Minty, CEO of Enegi, commented:

"We are pleased with the continued progress that our partner BSE are making, but still believe that the current share price in the open market significantly undervalues the Company and its achievements to date. As such, we are taking a number of actions to address this. One of which is to reduce the amount of outstanding shares in the open market when there is an opportunity to do so. We are pleased that in doing so, on this occasion, we are also able to assist BSE at the same time."

[Jon_Schnee]

Enegi Oil: Canadian licence extended ahead of drill programme

http://www.proactiveinvestors.co.uk/companies/news/64943/ene…