Amerisur Resources PLC, Cardiff, UK, said it may shoot seismic on the 8,000-sq km San Pedro block in the Parana basin in Paraguay in 2010 subject to service company availability.
The company said it is reviewing the design of a 180 line-km program designed to further de-risk principal closures.
Amerisur, which holds 100% interest in the block, has conducted two separate but conjoined geochemical surveys, the results of which were encouraging and confirmed hydrocarbon anomalies, strengthening the possibility of hydrocarbon generation and migration. Reinterpretation of seismic data indicated large potential structures that are overlain by geochemical anomalies.
Meanwhile, the company's 100% owned Curupayty block remains under technical review, and further activity there will probably be driven by results at San Pedro.
Albania has awarded Sky Petroleum Inc., Austin, a 7-year production sharing contract on three exploration blocks totaling 1.2 million acres or 20% of Albania's landmass.
The company will have access to more than 1,200 line-km of 2D seismic data on the Dumre block and blocks 4 and 5. The data show 10 prospects or leads on 435 sq km prospective in deep carbonate trends, Sky Petroleum said.
Block 4 is in southeast Albania and borders Greece. The 540,000-acre block has four identified leads and prospects. Block 5 covers 498,000 acres in southwest Albania along the Adriatic Sea. It has five identified prospects or leads. The Dumre block covers 149,000 acres just north of Kucova oil field.
Congo (former Zaire)
Shooting of 200 line-km of 2D seismic on the Lotshi block in onshore western Congo (former Zaire) is to start in early July, said EnerGulf Resources Inc., Houston.
EnerGulf, block operator with 90% interest, said it has improved roads and cleared 40% of the planned lines on the 500 sq km block.
The company is also performing surface geologic studies and geochemical sampling of oil seeps in the eastern part of the block, whose eastern boundary is contiguous with a bitumen mining license.
Congo (former Zaire) issued a presidential decree as the final step in the award of Block 5 to SOCO Exploration Production DRC SPRL.
The SOCO-operated block is at the southern end of the Albert graben and includes part of Lake Edward. The partnership committed to shoot at least 300 line-km of seismic and drill two exploratory wells.
The Block 5 partnership consists of SOCO 38.25%, Dominion Petroleum Congo SPRL 46.75%, and state Congolaise des Hydrocarbures (Cohydro) 15%.
Avenue Group Inc., New York, said its Avenue Energy Israel unit signed a letter of intent with an Israel-based investment group that would finance redevelopment of Heletz oil field in Israel.
Israel Group is to contribute up to $5 million towards the development to earn a 32.5% interest in the field. The agreement is subject to closing conditions.
Avenue Energy Israel holds a 75% interest in the Heletz-Kokhav license and 75% interest in the Iris license which contain the oil field. The field, which has produced more than 17 million bbl of oil since discovery in 1955, is judged to have 10.438 million bbl of proved, probable, and possible recoverable oil.
Tiway Turkey Ltd. and TransAtlantic Petroleum Ltd. discovered gas at the Bakuk-101 well on the 96,000-acre License 4069 in southeastern Turkey near the borders with Syria and Iraq.
The well, on the 30-km long Bakuk anticline, encountered gas at unspecified but clearly commercial rates from a marly sandstone in the Cretaceous Germav formation at about 3,150 ft. The companies are evaluating options to further appraise the reservoir.
As a result of drilling Bakuk-101, TransAtlantic will earn a 50% interest in License 4069 once certain logs have been obtained.
Curlew Lake Resources Inc., Langley, BC, plans to drill this summer for oil and gas in Lower Cretaceous Glauconite channels and the Jurassic Sawtooth formation 130 miles southeast of Calgary.
Curlew plans to drill at least one of two acquired Alberta Crown sections 6 miles east of Chin Coulee oil field south of Taber, Alta. A drill target based on a seismic shot point has been chosen to test the one or more channel sands identified on seismic. The leases qualify for a lower royalty rate and drilling incentives.
Exploration is planned on 640-acre Sec. 33 and, if successful, a follow-up hole in 29-7-13 w4m. Many similar prospects in southern Alberta are eventually drilled on 40-acre spacing. Many of these wells in the Glauconite channels have been producing for 30 years and are amenable to waterflooding and enhanced oil recovery.
Management also proposed licensing a new pool wildcat at Curlew Lake Chin Lsd 11-33-7-13 w4m.
Energen Corp., Birmingham, Ala., has drilled a 3,000-ft horizontal leg in Chattanooga shale at the Westervelt 19-2 No. 1 well south of Tuscaloosa, Ala., and plans to run a multistage nitrogen frac in late July.
Energen also plans to frac an uphole interval in Conasauga shale in the Marchant 22-16 No. 1 well southeast of Tuscaloosa in late July.
Miller Petroleum Inc., Huntsville, Tenn., said its Cook Inlet Energy LLC subsidiary was high bidder on all seven tracts it sought at the 2010 Alaska Cook Inlet area-wide lease sale.
The seven tracts total 27,000 acres, and high bids totaled $900,000. The tracts complete acreage positions on prospects acquired in Miller's asset purchase from Pacific Energy Resources in late 2009.
PetroQuest Energy Inc., Lafayette, will add a second operated rig within 30 days and a third rig in the fourth quarter on its Woodford shale properties in the Oklahoma Arkoma basin.
The company estimates its net production at 35 MMcfd of gas compared with 27 MMcfd in the 2010 first quarter.
Test results at three recently completed wells are 6.3 MMcfd from a 5,391-ft lateral, 10 MMcfd from a 5,256-ft lateral, and 4 MMcfd from a 6,562-ft lateral. The company holds 49,000 net acres centered on Pittsburg County.
PetroQuest has reached total depth on two other operated Woodford wells with 3,727-ft and 2,522-ft laterals. Completion is to start in July.
An undisclosed large US independent producer has agreed to buy 24,166 acres of the 40,240 acres held by Samson Oil & Gas Ltd., Perth, in Goshen County, Wyo., in the Niobrara unconventional oil play.
Consideration is $61-79 million pretax. Closing is set for July 26.
Samson is selling its entire working interest in the southern part of its holdings and will retain an average 4.8% royalty interest. The company plans to develop the retained northern acreage without further material dilution of its interest but said future development could alter those plans.
Samson is forming an exploratory unit to protect some leases that might otherwise expire later in 2010. The process is largely complete, but if the unit is not in place by the closing date of the sale, then the purchase price may be reduced.
Also, 2,670 acres to be sold are outside the unit area and will expire this year unless drilling commences. Samson is pursuing drilling permits that would allow 1,920 of those acres to be protected.