Zodiac Provides Results from Second Financial Quarter of 2012
Zodiac Exploration Inc. (TSXV:ZEX), an oil and gas exploration company, announced its results for the second financial quarter of 2012.
Archive for 2012
Australian Oil Production on a Large Scale Unlikely to Happen Soon
Bloomberg reported that large-scale oil and gas production in Australia likely will not happen for up to a decade unless companies focus on higher-priced oil and liquids.
Tullow CEO Says Kenya May Have Greater Oil Potential Than Uganda
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
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.
Ugandan Oil Boom Approaching
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
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.
Pyramid Oil Releases Q1 2012 Results
Pyramid Oil Co. (AMEX:PDO) announced that its fiscal results for the first quarter of 2012 include increases in revenue and net income.
India Plans to Reduce Oil Imports from Islamic Republic
The Wall Street Journal reported that India’s junior oil minister has said that the country plans to reduce oil imports from the Islamic Republic by eleven percent this fiscal year.
ExxonMobil Caught in Iraq Political Standoff
ExxonMobil has been removed from a list of bidders for Iraqi energy exploration rights amid political tensions between the Middle Eastern state and the Kurdistan Regional Government (KRG).
Australia Suggests Oil and Gas Exploration Locations
Bloomberg reported that the Australian government has put forward 27 areas that could be explored for oil and gas. The locations suggested are off the coasts of the Northern Territory, Western and South Australia, and Victoria and Tasmania.
