Armenia
Transeuro Energy Corp., Vancouver, BC, spudded the Karmir-1 exploratory well on a gas prospect in the Armavir region of Block 2 in Armenia.
The country’s first exploration well in 10 years, it is projected to 2,200 m and targets the Lower Sand Clay and Lower Multicolored Suite horizons.
The drillsite is within 3 km of the route of a recently installed domestic gas distribution pipeline, and the company and the government are discussing a connection in case the well finds gas.
Colombia
Colombia’s ANH signed a technical evaluation agreement with Petrolifera Petroleum Ltd., Calgary, covering the 879,100-acre Sierra Nevada 2 area in the Lower Magdalena basin.
The block is north, east, and southeast of Petrolifera’s Sierra Nevada 1 license and offsets known oil and gas accumulations. Sierra Nevada 2 carries a 14-month work commitment of reprocessing 650 km of seismic and geological and geophysical studies.
Namibia
The energy ministry approved the farming out by Tower Resources PLC’s Neptune Petroleum (Namibia) Ltd. subsidiary of an 85% interest in the license that covers blocks 1910A, 1911, and 2011A to Arcadia Petroleum Ltd.
Arcadia, a financially strong London crude oil trading concern, becomes operator of the license in the Atlantic along the southern Walvis ridge (OGJ Online, Sept. 5, 2007).
Arcadia, in addition to reimbursing Tower 85% of certain historic costs, is to fund the cost of a recent 2D seismic shoot and its interpretation, a 3D program in 2008, an exploratory well, and an appraisal or second exploration well.
Israel
Zion Oil & Gas Inc., Dallas, let a $650,000 contract to Geophysical Institute of Israel to shoot 60 line-km of 2D seismic, gravity, and magnetic surveys over Zion’s 78,000-acre Asher-Menashe exploration license in Israel.
The surveys are to help Zion select the optimal drillsite for an exploratory well on its Ramot Menashe (Menashe Heights) prospect and to upgrade the company’s Nahal Me’arot lead, near the Asher-Atlit-1 well, into a drillable prospect.
Pakistan
Cathay Oil & Gas Ltd., Toronto, plans to explore for and develop coalbed methane and oil and gas in Sindh Province, Pakistan.
The company plans to create a basinwide geological model for CBM and a countrywide geological model for oil, gas, and minerals. Cathay signed an operational alliance with Schlumberger that will serve as the basis for a definitive master services agreement for the needed project management and related services.
Switzerland
Ascent Resources PLC plans to acquire a 22.5% interest in Perazzoli Drilling SRL of Italy that will provide Ascent with priority access to Perazzoli’s rigs.
Ascent will gain the use of two rigs rated to 2,000 m and 3,600 m, an advantage under the current shortage of drilling contractors across Europe. Ascent expects to use the rigs 20% for its own account and contract them to third parties the rest of the time.
Ascent is discussing a farmout through which it plans to appraise the 1982 Hemrigen gas discovery on the 363.5 sq km Seeland/Frienisberg permit in Switzerland, where it also holds the 330 sq km Thun permit and the 1972 Linden discovery.
Ascent also holds a 736 sq km exploration permit in the Swiss Canton of Vaud through partner Swiss Petroleum, where BEB’s 1962 Essertines well found 41.5° gravity oil and associated gas in a Jurassic reservoir.
Texas - Gulf Coast
Universal Energy Corp., Houston, said it agreed to acquire a 12.5% interest to casing point in Lone Oak, a Vicksburg 3D oil and gas prospect in Galveston Bay 9 miles northeast of Eagle Bay field.
The 3,526-acre prospect in the Houston salt basin has the same Vicksburg sandstone reservoir targets as produced at Eagle Bay and other fields in the trend, the company said.
Eagle Bay field has produced more than 110 bcf of gas and 10 million bbl of condensate from Vicksburg.
