Oil and Gas Investing News

South Africa May Tap Shale Gas Reserves

Charlotte McLeod — Thu, 17 May 2012 17:31:41 +0000

Bloomberg reported that South Africa's Energy Minister is considering allowing the country's shale gas reserves to be tapped, a process that has been banned in France and Bulgaria.

Uzbekistan to Begin Supplying Gas to China

Charlotte McLeod — Thu, 17 May 2012 17:26:08 +0000

Reuters reported that this year, once legal issues are settled, Uzbekistan plans to begin pumping gas to China using a pipeline that crosses three Central Asian states. Turkmenistan is currently the only supplier using the pipeline.

Tullow CEO Says Kenya May Have Greater Oil Potential Than Uganda

Charlotte McLeod — Thu, 17 May 2012 16:42:05 +0000

Bloomberg reported that Aidan Heavey, CEO of Tullow Oil plc (LSE:TLW), believes Kenya may have more oil potential than Uganda, although as yet Kenya has no proven reserves.

Africa Oil Reports on Somalian Drilling

Charlotte McLeod — Thu, 17 May 2012 16:30:20 +0000

Africa Oil Corp. (TSXV:AOI) announced an update on its drilling in Puntland, Somalia, commenting that results from its Shabeel well seem to confirm oil-bearing sands in two zones.

Palliser Expands Undeveloped Heavy Oil Land Position

Charlotte McLeod — Wed, 16 May 2012 17:56:06 +0000

Palliser Oil & Gas Corp. (TSXV:PXL) announced that during the first quarter of 2012 it expanded its undeveloped heavy oil land position to 19,618 net acres, an eight percent increase from the previous quarter.

Ugandan Oil Boom Approaching

Charlotte McLeod — Wed, 16 May 2012 17:45:46 +0000

Bloomberg reported that according to Patrick Bitature, Chairman of the Uganda Investment Authority, Uganda licensed 62 investment projects during the first quarter of 2012. Oil is one of the sectors that received the highest value of planned investment.

Tethys Acquires Uzbekistan Oil Field

Charlotte McLeod — Wed, 16 May 2012 17:32:19 +0000

Tethys Petroleum Ltd. (TSX:TPL,LSE:TPL) announced that Chegara Production Ltd., its wholly-owned subsidiary, has acquired the Chegara Group of Fields in Uzbekistan.

Eni Announces Large Mozambique Gas Find

Charlotte McLeod — Wed, 16 May 2012 17:17:43 +0000

Eni S.p.A. (NYSE:E) announced that it has found a huge amount of natural gas at the Coral 1 exploration prospect, located offshore of Mozambique.

Total Plugs Gas Leak, Sees Rise in Shares

Charlotte McLeod — Wed, 16 May 2012 17:07:49 +0000

Reuters reported that shares in Total SA (NYSE:TOT) rose more than two percent on the news that the company had plugged a well at its North Sea Elgin platform that had been leaking for seven weeks.

Pyramid Oil Releases Q1 2012 Results

Charlotte McLeod — Tue, 15 May 2012 17:42:54 +0000

Pyramid Oil Co. (AMEX:PDO) announced that its fiscal results for the first quarter of 2012 include increases in revenue and net income.