Einige aussichtsreiche Werte für 2010. Mal schauen, wie sie sich so entwickeln.
Kurse von etwa 70 interessanten Rohstoffaktien 20 Minuten verzögert. => Performance Vergleich gg 31.12.2009
Top 3 Performer nach der 5. Kalender Woche (Vorwochen)
1. McMoRan +89%, (McMoRan +89%, McMoRan +91%, McMoRan +77%; Cline Mining +56%)
2. Chariot Oil + 61%, (Orocobre +76%, Orocobre +81%, General Moly +44%; Geovic +45%)
3. Orocobre +54%, (Chariot Oil + 56%, Chariot Oil +50%, Geovic +41%; General Moly +35%)
Iraq Government Allows Kurds to Resume Oil Exports Immediately
Iraq, holder of the world’s third- largest crude reserves, will resume oil exports
from the northern Kurdish region “soon” after the Oil Ministry and the local administration agreed on a payment method. The federal government instructed the State Oil Marketing Co. to resume exports of oil produced in the Kurdish region “immediately,” Oil Minister Hussain al-Shahristani told reporters today in Baghdad. Iraq accepted a Kurdish proposal on payments to international producers working in the semi-autonomous region, al-Shahristani said without providing further details. The Kurdish Regional Government last month proposed that the central administration pay DNO International ASA and other producers in northern Iraq directly or for the revenue to pass through the Kurdish authorities. DNO shares surged as much as 15 percent in Oslo trading after the announcement. A KRG spokesman wasn’t immediately able to comment on an agreement with the government. Companies like DNO and Genel Enerji AS halted oil exports from the semi-autonomous Kurdish region last year because there was no mechanism in place for payments to producers. Exports from the Kurdish region had started flowing through federal government-run pipelines last year and revenue from the sales went to state coffers. Exports then halted amid a failure to agree on how revenue would be distributed.
Kurdistan: BBC interviews Natural Resources Minister Ashti Hawrami
Kurdistan establishes its own stock exchange
In a press conference, the establishment of Erbil Stock Exchange Co. (ESX) was announced. The establishment committee of ESX held a press conference today and announced that it has been working on establishing this market for almost two years. This is expected to play a key role in boosting the economy of Kurdistan and the region. ESX Finally received a license from Baghdad. Ahmed Adul-Rahim the head of Establishment Committee stated “our stock exchange market is completely independent of that of Baghdad, and is licensed by Baghdad”. “We hope to advance Kurdistan economy, and link Kurdistan economy to the outside world” said Rahim. Several big corporations have already taken part in this market. KRG as for its part is the main participant holding 20% of the market’s stocks. Opening a stock exchange market here in Kurdistan is significant; due to the security problems other parts of Iraq are not as valid as Kurdistan for such a market said the head of the committee. Any company holding 5% capacity of the overall ESX’s stocks can take part in ESX, including foreign companies.
Kurdistan says could pump 100,000-150,000 bpd immediately
“In the interest of all Iraqis, let’s get oil flowing, contractors to produce a certain amount of oil and pay expenses and the issues of contracts and things we differ on can be sorted out as we go,” he said.
Asked when he thought production could start, he said: ”That is down to Baghdad. We are ready to start. We can export within 24 hours.”
Kurdistan wanted to build a pipeline to get oil exports up to 1 million bpd within three years. The pipeline would run through Kurdistan and link up with existing Iraqi pipeline flowing to Ceyhan in Turkey.
Incremental Steps in Iraq to Let Kurdistan Oil Flow
FALKLANDS ARE “GO” FOR OIL EXPLORATION
Desire Chairman, Stephen Phipps has confirmed that the exploration rig, Ocean Guardian, is progressing well and scheduled to arrive in Falklands waters early in February, weather and sea conditions depending. During an interview with FINN he also confirmed that the integrated pipe and lay-down facility at Coastel Road being constructed by Byron McKay is nearing completion with plans to base a majority of the shore support personnel from that area. As reported last month on FINN there will be a financial benefit for the economy for entities involved in the pipe and lay-down facility, the movement of oil related cargo from FIPASS, People renting accommodation for shore based workers, Hotels accommodating workers and transport services. “Twelve Rooms at the Malvina House Hotel, 15 seats on the airbridge as well as the increased port activity is a significant contribution to the Falklands’ economy” said Mr Phipps. Mr Phipps went on to say that once exploratory drilling is complete then these revenue streams will be dried up until there is another round of exploratory drilling possibly by FOGL, BHP Billiton and Borders & Southern. Ocean Guardian is a semi-submersible rig suitable for exploring in shallower waters. This means that after Desire Petroleum finish their prospects in tranches C, D, and F, and Rockhopper Exploration end their drilling campaign in former Shell tranches, then BHP Billiton’s shallower prospects of Endeavour, Loligo and Nimrod could be drilled. According to Mr Phipps there will be little information coming from the site. There will be an announcement when drilling commences and another when target depth is reached and how long it took to drill that depth. After a while the results of the drill will be announced. Besides Desire’s Chairman, the CEO, Mr Ian Duncan, Finance Director Mr Eddie Wisniewski and PR Consultant Mr Ben Romney from Buchanan are visiting Also in the Falklands this week is Mr Sam Moody of Rockhopper Exploration. Rockhopper have discovered natural gas in one of their prospects. When asked about what hydrocarbons products were being explored Mr Phipps said that “the main thought process is oil because that’s what’s believed to be there.” He shied away from commenting about natural gas. When the exploration process is over and if hydrocarbons have been found, the exploration well will be tested. If no hydrocarbons have been found, exploratory wells will be plugged and abandoned. “If we can, we would like to stay, but that depends on rig availability,” said Mr Phipps. In a tight rig market this could only be a wish, rather than a firm way forward. However, many exploratory rigs in other parts of the world have been kept for exploitation purposes in the past. This adds to a tight rig market, so if a rig can be secured for Falklands’ waters all the better. At the end of the day after all the exploration is finished there will be slack hydrocarbons based revenue streams. To investors, I say, hang in there. The next few months could be interesting indeed
Last research:
News der 4. Kalenderwoche
ROCA Reports First Quarter Results
Dragon Oil has awarded a contract to lease and manage a new Super M2 jack-up rig. The jack-up will operate in the Cheleken permit offshore Turkmenistan. After construction the rig will be brought to the Cheleken contract area at the end of Q4 2011. The contract is with Yantai Raffles Offshore Ltd, based in Singapore. Industry reports indicate that the lease agreement extends for five years with an overall contract value of $270m. This is equivalent to a daily rate of $148,000 which is reasonable for a modern generation rig in the Caspian. A two-year extension has also been agreed. This is good news for shareholders and should help to assuage concerns about whether the production profile (up to 100,000 b/d) can be achieved in a timely manner.
Afren announces that it has entered into a Joint Venture Agreement (“JVA”) with Oriental Energy Resources Limited (“Oriental”) and Energy Equity Resources (“EER”) for participation in the exploration, appraisal and development of OML 115 offshore South East Nigeria, adjoining the Ebok and Okwok development area.
Operational update
Production
- Exceeded 2009 production expectations with average group net working interest production of approximately 21,000 barrels of oil per day
- At least two infill targets identified at the Okoro field in Nigeria, to deliver incremental reserves in 2010
- Infill targets being finalised at CI-11 in Côte d’Ivoire
Development
- Ebok Phase 1 development has commenced (2010 exit rate of 15,000 bopd)
- Production, processing and storage facilities contracted (WSS / MOPU / FSO)
- Planned acceleration of Ebok West Fault Block, following (Ebok-5) appraisal success, from Q3 2010 (2010 exit rate of 20,000 bopd)
Exploration and Appraisal
- 100% drilling success rate at Ebok (91 mmbbls incremental reserve additions)
- Amplitude support for additional upside at Ebok North – total Ebok potential upgraded to 209 million barrels (from 182 million barrels)
- Several new prospects identified in deeper levels at Ebok
- OML 115 acquisition – targeting the channelised Qua Iboe
- Emphasis on West African Transform Margin and Upper Cretaceous fairway (Ghana, Côte d’Ivoire, Nigeria)
- Active 2010 work programme
- 19 operated wells (exploration / appraisal / production) in firm schedule for 2010
- Phase 1 Ebok development – 15,000 bopd (7 wells)
- Accelerated Phase 2 Ebok development – 20,000 bopd (6 wells)
- Okoro infill drilling, Nigeria (2 wells)
- OML 115 exploration, Nigeria (1 well)
- Ebok deep exploration, Nigeria (1 well)
- La Noumbi, Congo (1 well currently drilling)
- Okwok appraisal, Nigeria (1 well)
- Total discretionary capex of US$430 million, funded from existing resources
PetroNeft owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, is pleased to provide an update on its operations. Highlights:
- Pipeline construction on schedule for completion in April 2010
- Drilling rig onsite and rig-up underway, first of nine development well program to spud in April
- Equipment procurement and mobilisation ongoing as planned
- Appointment of new Vice President of Business Development and Operations
Pipeline
The survey, design and preparatory work on the new pipeline route from Lineynoye to Kiev-Eganskoye has been completed. Pipeline construction activities will commence on schedule in early February and is expected to be completed during April 2010. Final hydro-pressure testing of the line is scheduled for June 2010.
Mercator Minerals is pleased to provide an update of the recent developments at the Company’s wholly owned El Pilar Copper Project in Northern Mexico.
Sunkar is pleased to announce its mineral resource estimate, prepared by Wardell Armstrong International Limited, covering some 40% of the Company’s 836 sq km Chilisai licence area (“Licence Area”) in accordance with the guidelines of the Australasian Code for Reporting of Exploration Results, Mineral Reserves and Ore Reserves (“JORC”).
TURKISH GIANT TO ESTABLISH REFINERY IN NORTHERN IRAQ
Afren – the UK company leading the hunt for Africa’s oil
Toyota bunkert Rohstoff für Akkus
Die Japaner haben sich den direkten Zugriff auf Orocobre (siehe auch meine Top 2010 Werte) einen Lithiumlieferanten in Argentinien verschafft. Damit sichern sie sich den Nachschub des wichtigsten Rohstoffs für Lithium-Ionen-Akkus, die in der neuen Generation von Hybrid- und Elektroautos eingesetzt werden. =>
USA entthronen Erdgaskönig Russland
Rückschlag für die Rohstoffsupermacht: 2009 ist die Fördermenge des russischen Staatskonzerns Gazprom dramatisch zurückgegangen. Zum ersten Mal seit Jahren verliert Moskau seine Position als größter Erdgasförderer der Welt – und ausgerechnet der Rivale Amerika droht Russland abzuhängen. … =>
Venezuela oil ‘may double Saudi Arabia’
A new US assessment of Venezuela’s oil reserves could give the country double the supplies of Saudi Arabia. Scientists working for the US Geological Survey say Venezuela’s Orinoco belt region holds twice as much petroleum as previously thought. The geologists estimate the area could yield more than 500bn barrels of crude oil. This assessment is far more optimistic than even the best case scenario put forward by President Hugo Chavez. The USGS team gave a mean estimate of 513bn barrels of “technically recoverable” oil in the Orinoco belt. Chris Schenk of the USGS said the estimate was based on oil recovery rates of 40% to 45%. Petroleos de Venezuela SA (PDVSA), Venezuela’s state oil company, has not commented on the news. However, Venezuelan oil geologist and former PDVSA board member Gustavo Coronel was sceptical. ”I doubt the recovery factor could go much higher than 25% and much of that oil would not be economic to produce”, he told Associated Press news agency. Venezuela holds the largest oil reserves outside the Middle East. Saudi Arabia has proven reserves of 260bn barrels.
News der 3. Kalenderwoche
Dragon Oil: Dragon’s operational update reported production of 44,765 barrels of oil per day, with a year-end exit rate of 50,000 barrels of oil per day. This production was sold at an average price of $62 per barrel which, while lower than the $91 per barrel achieved in 2008, was at a level that had almost no discount to Brent. Net sales were 10.5m barrels, suggesting a revenue line of circa $650m. Eights wells were drilled in 2009, and up to 11 wells are expected in the current year. The two major capital projects underway at present – the phase 2 expansion of the central processing facility and the build-out of the 40-inch trunkline – experienced delays in the year. However, if the same level of production growth (9%) is achieved in 2010 – a reasonable expectation given that 11 wells are slated to be drilled – the build-out of facilities has to be completed towards the end of the year. A working assumption is that the plateau production rate using current facilities is 50,000 barrels of per day. For now our working assumption is that average production reaches 54,000 barrels per day. However, even with more wells being drilled, this looks too optimistic at this stage. Cash at the end of the year was $1.1bn
Gulfsands Petroleum has reported on operations at Block 26, Syria, where Gulfsands holds a 50% interest and acts as operator.
Equinox: Q4-2009 Prelim Prod Results, Full Year and Guidance for 2010
TVI Pacific announced that its Philippine affiliate, TVI Resource Development Philippines, has reduced the original principal balance of its outstanding debt by 46%
Atlas Iron secures 2 more long term DSO sales agreements
Atlas Iron doubles DSO Resource inventory to 187Mt
Petroceltic: Iberdrola, a major Spanish utility company, has sold its near-16% stake in Petroceltic at 16p, a market premium. The sale of its stake in Petroceltic is just one of several other ventures that Iberdrola has exited and reflects its efforts to focus on core areas only following the financial crisis in 2009.
Tullow buying out Heritage Oil in Uganda: Exploration company Tullow Oil has said it will spend €1 billion buying out its partner, Heritage Oil, in Uganda. Heritage Oil had earlier said it was selling its 50% stake in two projects in the Lake Albert area of Uganda it was exploring with Tullow. Tullow said it and Heritage had spent €0.5m on drilling to prove 700 barrels of oil in the Lake Albert Rift Basin, and identify 1.5 billion barrels of potential yet to be explored.
Vast Exploration: Provides Initial Resource Assessment for the Qara Dagh Block in the Kurdistan Region of Iraq
Roca Mines representatives were on hand in Nakusp last Friday to discuss the expansion of the MAX Mine with the public. CEO and President Scott Broughton began the meeting by talking of the history of the mine – its rise in the mid-2000s, to the economic downturn of 2008. Now a plan to effectively double the daily output of molybdenum is in the works.
Orocobre and Toyota Tsusho Announce to Develop Argentine Lithium Project
Orocobre and Toyota Tsusho Announceto Develop Argentine Lithium ProjectHighlightsToyota Tsusho Company to take 25% interestLithium-Potash Project by provision of FeasibilityProject Development funding.Cornerstone off take agreement to be negotiatedlithium for hybrid and battery-powered vehicles.Project development on track for late 2010
Victoria Oil & Gas has provided an update on its Logbaba gas and condensate project in Douala, Cameroon. Open-hole logs have been run at Well La-105 and the well has been cased with a 7-inch production liner between 5,950 and 8,750 feet, measured depths. The logs have indicated the presence of at least 65 feet of very good quality gas-bearing sandstone reservoir plus at least an additional 260 feet of gas-bearing sands that may prove to be productive when tested. La-105 is now being completed as a production well. Immediately following the La-105 completion the rig will be moved about eight meters to the adjacent surface location on the Logbaba drilling pad and the La-106 appraisal/development well will be spudded. La-105 will be flow tested during the La-106 drilling operations.
McMoRan Posts 4Q Production; Touts GOM
Fourth-quarter 2009 production averaged 209 MMcfe/d net to McMoRan, compared with 162 MMcfe/d in the fourth quarter of 2008. Full-year 2009 production averaged 202 MMcfe/d net to McMoRan, compared with 245 MMcfe/d in 2008.
KRG statement on Kurdistan Region oil contracts and revenues. Iraq Kurds want to resolve oil row, resume exports – KRD predicts output of 1 mln bpd in four years
The government of Iraqi Kurdistan said on Sunday it wanted to reach an amicable agreement with the Baghdad government over the sharing of oil revenue so it could resume exporting crude. In a statement responding to a call from Prime Minister Nuri al-Maliki to settle a dispute between Iraq’s Arabs and Kurds over the country’s oil wealth, the Kurdish Regional Government (KRG) said it was considering publishing contracts it has signed with foreign oil companies. ”The KRG is willing to enter a serious dialogue about the subject, and we are willing completely and in the interest of the Iraqi people to renew exports of crude oil from KRG fields at a level of no less than 100,000 barrels per day,” it said. The statement added that the Kurdish regional authorities hoped to boost output to 200,000 barrels per day this year and attain an output capacity of 1 million bpd within the next four years. =>
Das wilde Kurdistan im Ölboom
Gulf Keystone Petroleum: Neue Präsentation
Iraq to pay Kurdish oil deals
Iraq is set to grant the Kurdistan Regional Government (KRG) a green light to sign deals with foreign oil companies on the grounds that Baghdad could see the contracts transparent in order to fund them, an official said on Thursday. “Iraqi oil minister Hussein Shahristani funds the KRG oil deals after his ministry reviews the deals,” said Iraqi MP on oil and gas committee Bayazid Hassan. According to Hassan, Iraqi government pays companies interesting rate if the Kurdish deals are transparent, if not Iraq pays the rate from the 17 percent of the KRG budget.
Gulf Keystone: Significantly Increased Oil in Place Numbers for Shaikan Discovery
Shaikan-1 has been independently evaluated by Dynamic Global Advisors (“DGA”). This final evaluation report reviewed the data from the Cretaceous, Jurassic and Triassic formations of Shaikan-1 tested to a depth of 2,950 meters and was carried out in accordance with the Petroleum Resources Management System (“PRMS”) guidelines, using SPE definitions.
Key findings:
* The range of oil in-place for the Shaikan structure has been increased to a gross 1.9 (P90) to 7.4 (P10) billion barrels of oil, with a mean of 4.2 billion barrels of oil in place. Previous estimates were 1.0 (P90) and 5.0 (P10). In addition, there is upside potential (P1) up to a total of 13 billion barrels of oil in place.
* There are also prospective resources below 2,950 meters (lower Triassic and Permian). The DGA Executive Summary states that: “Potential resources for these deeper formations are 1 to 5 BBO and 6 to 14 TCF, which is in addition to the P1 upside estimate of 13 BBO”.
* In addition the DGA Executive Summary confirms that: “This discovery greatly reduces the geologic risks in the Sheikh Adi, Akri Bijeel and the Ber Bahr blocks, Gulf Keystone’s adjacent opportunities. The Shaikan discovery proves the presence of hydrocarbon source and migration in the area.
* The Shaikan-1 well has discovered a significant resource of oil and gas in the Cretaceous Sarmord, Jurassic Barsarin, Sargelu, Alan, Mus, Butmah, Baluti and Triassic Kurre Chine formations
News in der 2. Kalenderwoche
Legend: BMO Upgrading to Outperform (S) on Phosphate Rock Price Momentum and Near-Term Catalyst Potential …
Petroceltic the upstream oil and gas exploration and production company focused on North Africa and the Mediterranean, in association with its partner Sonatrach, the Algerian National Oil & Gas Company is pleased to issue an operational update on its Isarene permit in the Illizi Basin in South Eastern Algeria. Petroceltic International plcAlgeria Operational UpdatePetroceltic International plc (“Petroceltic” or “the Company”), the upstream oil and gasexploration and production company focused on North Africa and the Mediterranean, inassociation with its partner Sonatrach, the Algerian National Oil & Gas Company ispleased to issue an operational update on its Isarene permit in the Illizi Basin in SouthEastern Algeria. …
Afren announces successful completion of the Ebok-6 appraisal well offshore Nigeria and a further upgrade to Ebok volumetrics
Highlights
* Ebok-6 appraisal well completed and exceeded pre drill expectations
* Ebok-6 encountered a total of 107 ft gross oil pay in the LD-1A and D2 reservoir sands
* D2 Southern Lobe STOIIP upgraded from 33 mmbbls pre drill to 135 mmbbls oil,representing a 400% increase in volumes …
Bannerman: neue Präsentation online …
TVI Pacific announced that its Philippine affiliate, TVI Resource Development Philippines, Inc. has entered into a Heads of Terms Agreement with DACON Corporation toward the establishment of an unincorporated joint venture to conduct exploration, development and production of mineral deposits in the area covered by TVIRD’s Application for Exploration Permit No. 61 Project, otherwise known as The Greater Canatuan Tenement. …
McMoRan Exploration and its partner Energy XXI unveiled a “major” discovery of gas-bearing sands in the Gulf of Mexico, sending their shares higher in early trade. …
Quadra Miningis pleased to announce the 2009 fourth quarter and annual production results from its three wholly owned mines, the Robinson Mine located in Ely, Nevada, the Carlota Mine located in Globe-Miami, Arizona and the Franke Mine located in Region II Chile. Combined production was 46.7 million pounds of copper and 25,148 ounces of gold produced for the three months ended December 31, 2009 and 164.0 million pounds of copper and 98,970 ounces of gold for the year. This compares to 159.7 million pounds of copper and 137,620 ounces of gold produced in 2008. …
China, the world’s biggest buyer of iron ore, increased purchases of the material by 42 percent to a record last year as steelmakers ramped up production to meet demand from carmakers and builders. Imports of iron ore rose to 628 million metric tons from 443.6 million tons in 2008, the customs bureau said on its Web site today. Imports were 62.2 million tons in December, it said. …
Gulf Keystone: Significantly inreased oil in place numbers for shaikan discovery. Shaikan-1 has been independently evaluated by Dynamic Global Advisors („DGA“). This final evaluation report reviewed the data from the Cretaceous, Jurassic and Triassic formations of Shaikan-1 tested to a depth of 2,950 meters and was carried out in accordance with the Petroleum Resources Management System („PRMS“) guidelines, using SPE definitions. The range of oil in-place for the Shaikan structure has been increased to a gross 1.9 (P90) to 7.4 (P10) billion barrels of oil, with a mean of 4.2 billion barrels of oil in place.
Molybdän: Prices for molybdenum, a base metal used tomake stainless steel, will likely rise 55% in the next two years, JPMorgan analysts said Thursday. ”Wealso see more sustainability in the recent surge in moly pricescompared to the spike this summer,” analysts led by Michael Gambardellawrote in a report on Canadian molybdenum miner Thompson Creek Metals The price for the metal is currently about $15.5 a pound, which is up from $10.70 in November. Gambardellaanticipates prices will climb to $21 by the end of this year and $24 bythe fourth quarter of 2011 as global industrial output expands.
Taseko Mines ambitious $800-million Prosperity gold-copper project cleared a major hurdle Thursday with the awarding of a provincial environmental assessment certificate. Taseko’s certificate is contingent on fulfilling 103 commitments — including the creation of a new lake as a replacement for the destruction of Fish Lake and Little Fish Lake for the sake of the 20-year open pit mine near Williams Lake.
Interest strong in Pilbara iron ore producer Atlas
PILBARA iron ore producer Atlas Iron is fielding interest from Asian steel mills seeking a strategic stake in one of its assets and offtake agreements with another. Managing director David Flanagan yesterday said the company had 20 groups competing for five positions in the next round of offtake from its Wodgina project. A lot of groups were “in there, and they are all good”, he said. The company expects to settle the offtake agreements and the Ridley mine strategic partner in the first half of this year, with advice from Goldman Sachs JBWere. Mr Flanagan said the interest in the $3 billion Ridley project, for which Atlas is seeking to sell up to a 70 per cent stake in, had come from some “big groups”. The miner had come a long way since its first production in 2008, when its offtake partner had abandoned it, leaving it unable to sell its ore in the first month, he said. Now, the miner was fielding interest from steel mills prepared to be innovative in signing deals. “We received some ridiculous offers back then, and now it is quite a different environment,” Mr Flanagan said. The junior’s share price has increased steadily from about 42c in 2008. It closed yesterday 4.7 per cent higher at $2.23. Australian iron ore stocks are all enjoying a strong run on expectations of an increase in contract prices this year, and local product is being sought as domestic producers in India and China struggle with costs. An Indian industry source said the government had a habit of raising taxes and levies in line with the iron ore price, so there was a constant margin squeeze on domestic producers. Mr Flanagan said Atlas had an informal index to log when unsolicited interest was received from potential customers wanting to buy iron ore. It was a good indication of where things were going, he said, and the miner was getting “plenty” of that type of interest.
News der 1. Kalenderwoche
Galaxy Resources announced it has awarded the Mt Cattlin mining contract to Orionstone Pty Ltd (Orionstone). Orionstone is a provider of quality mining equipment and services that was established in the Eastern Goldfields 17 years ago and currently has fleets of equipment operating around Australia. Former clients of the company include Norilsk Nickel, Harmony Gold, Newcrest Mining, Haddington and Panoramic Resources.
TVI Pacific announced that its Philippine operating affiliate, TVI Resource Development (Phils.), Inc. (“TVIRD”), completed its tenth shipment of copper concentrates produced at the Canatuan Mine on December 29, 2009. The concentrates were shipped from the TVIRD warehouse facility, at Santa Maria Port in Siocon, Zamboanga del Norte, in accordance with the offtake arrangement previously entered into between TVIRD and MRI Trading AG (“MRI”).
Brockman is pleased to announce that MiningLease M47/1414 at Marillana has been granted by the Department of Mines and Petroleum. Thegranting of this Mining Lease means Brockman has taken a significant leap forward towardsrealising its objective of becoming the fourth largest iron ore (hematite) producing company in Australia.
Victoria Oil & Gas (VOG) has provided an update on its Logbaba gas and condensate project in Douala, Cameroon. Well La-105 reached a total depth of 8,920 feet on January 1, 2010 and the well is currently being logged prior to its completion as a development well. Multiple gas-bearing sands were encountered at virgin pressures at depths between 6,017 feet and 8,330 feet, which can be correlated to those found and tested in the nearby well La-103. Well La-103 flowed at rates from 5 to 12 million cubic feet of gas per day from individual sands when drilled in 1956.
All aboard the fertiliser bus as it prepares to accelerate
JIM Rogers, once George Soros’s partner and now probably a frequently quoted commentator on resources — one news report referred to him as a “commodities guru” — is very bullish about the outlook for almost all of the sector.
Iraq’s Maliki calls for end to Kurd oil deal row
Es kommt Bewegung in den Konflikt um das kurdische Öl. Das ist für Firmen wie Gulf Keystone, Heritage und DNO, sowie alle anderen -siehe Blog Seite Kurdistan- von enormer Bedeutung.
“We said it is time to look at this file and settle it with flexibility and realism, in order to preserve rights and interests in these contracts,” Maliki was quoted saying on the government’s national media centre website. “We hope to end this crisis.” He gave no details about how the two sides might settle the long-running feud, in which Iraq’s Arab-led government in Baghdad has labelled Kurdish contracts illegal and Kurds have demanded reimbursement for exports from Kurdish fields.
Auf ein erfolgreiches Aktienjahr 2010
Turkmenistan to Invest $9.7B in Its Largest Gas Field
The gas-rich central Asian republic of Turkmenistan is to invest $9.7 billion in its largest natural gas field South Iolotan, local media reported Wednesday. The state concern Turkmengas has already signed contracts with South Korea’s LG International and Hyundai Engineering, China’s CNPC Chuanqing Drilling Engineering Company and the United Arab Emirates companies of Petrofac International LLC and Gulf Oil & Gas. Some of the largest energy concerns in the world including ExxonMobil, Gazprom and Shell competed for the exploration rights. The government in Ashkhabad is to finance the estimated yearly extraction of about 20 billion cubic meters of gas with it own funds and with loans from the China Development Bank. In June, Beijing authorized $4 billion for the project. A new gas pipeline from Iolotan to China is expected to be built. In the previous year, the British consultancy Gaffney, Cline and Associates estimated the reserves of the field at some 14 trillion cubic meters, making the Iolotan the fifth largest gas field in the world. With around 8 trillion cubic meters of proven reserves, Turkmenistan has the fourth-largest deposit worldwide.
