General Interest 2005 P

12/08/2005 -- MARKET WATCH
Crude stock build lowers prices
Crude prices dropped Dec. 7 on news of a build in US oil inventories and indications that the cold front moving into the US Northwest may not be as severe as predicted.
12/08/2005 -- Indonesia revives team for Cepu negotiation
The Indonesian government has reactivated a special negotiating team in the hope of ending a months-long deadlock in contract talks between ExxonMobil Corp. and state-owned PT Pertamina over East Java's Cepu Block.
12/07/2005 -- Lawmakers: US should prepare for global oil flow peak
While there is disagreement about when world crude oil production will hit its peak, the US should begin preparing for it now, two US House members told an Energy and Commerce subcommittee hearing on Dec. 7.
12/07/2005 -- Deloitte analysts expect oil, gas prices to stay high
Deloitte & Touche LLP analysts foresee continued strength in crude oil prices for more than a year and expect natural gas prices to remain high throughout the winter.
12/07/2005 -- MARKET WATCH
Crude prices little changed ahead of inventory report
Crude futures prices changed little Dec. 6 as traders awaited an update on US oil inventories, but natural gas futures continued to fall.
12/07/2005 -- TexStar buys midstream gas assets in Texas
TexStar Field Services LP, a San Antonio-based natural gas midstream energy company created in 2004 by Hicks, Muse, Tate & Furst Inc., has acquired midstream natural gas assets in South and Northeast Texas from Enbridge Energy Partners LP.
12/07/2005 -- First Calgary appoints O'Leary COO
First Calgary Petroleums Ltd., Calgary, has appointed Shane O'Leary as chief operating officer, effective January 2006.
12/07/2005 -- Military training pressed as eastern gulf leasing issue
US Sec. of Defense Donald H. Rumsfeld's view of offshore exploration and development where military training occurs has become an issue in Washington, DC.
12/06/2005 -- IEA: Hydrogen, fuel cells for transport face hurdles
Hydrogen fuel and fuel cell technologies remain costly ways to mitigate emissions of carbon dioxide and bolster energy security, according to a new report the International Energy Agency.
12/06/2005 -- UK raising oil and gas taxes again
UK Chancellor Gordon Brown announced a tax increase for oil companies in a move that energy experts predicted could discourage North Sea investment.
12/06/2005 -- Eni to buy shares of permits off Australia
Eni Australia BV is buying Woodside Petroleum Ltd.'s interests in three permits off Australia for $30 million, subject to government approval and consent of other partners in one permit.
12/06/2005 -- Stone Energy responds to reserves review
Stone Energy Corp. said an independent review found that the company lacked adequate internal guidance or training on regulatory standards for estimating proved reserves.
12/06/2005 -- Gulfport Energy appoints new chief executive
Gulfport Energy Corp. has hired James D. Palm as chief executive officer, a position held by Mike Liddell, who will continue to serve as chairman and a director of the Oklahoma City-based company.
12/06/2005 -- MARKET WATCH
Winter weather pushes crude futures price above $60/bbl
Crude futures prices briefly topped $60/bbl Dec. 5, but natural gas futures declined in profit-taking as a winter cold front moved into the main US gas and heating oil markets.
12/06/2005 -- Continental, GeoPetro form joint venture
Continental Energy Corp., Dallas, and GeoPetro Resources Co., San Francisco, have formed an equally shared joint venture company, CG Xploration Inc., to seek exploration and production projects in Indonesia, with special interest in East Kalimantan.
12/05/2005 -- ConocoPhillips unit gets 100% of Seaway line
ConocoPhillips subsidiary Seagas Pipeline Co. has increased its stake to 100% in the 85,000 b/d Seaway products pipeline between Pasadena, Tex., and Cushing, Okla.
12/05/2005 -- MARKET WATCH
Lower temperatures, increased demand lift energy prices
Predictions of colder weather after a warm November and indications of sustained US economic growth pushed up energy prices Dec. 2.
12/05/2005 -- PDVSA signs agreements with BP, Shell
Petroleos de Venezuela SA has signed transitional agreements with BP PLC and Royal Dutch Shell PLC to convert their operating service agreements into joint ventures with the government.
12/05/2005 -- Study notes jump in Permian basin operating expenses
Permian basin unit operating expenses (opex) jumped during 2002-04 for all but the leading area operators, according to a Ziff Energy Group benchmarking study conducted for nine basin operators.
12/05/2005 -- Woodside sells its Hardman Resources shares
Woodside Petroleum Ltd. said its subsidiary, Woodside Mauritania Investments Pty. Ltd., sold its 67.4 million shares of Hardman Resources Ltd. for $118.3 million (Aus.) to Deutsche Securities Australia Ltd. for placement in the market. The shareholding represents a 10% interest in Hardman Resources.

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General Interest 2005 P