Trapoil, the North Sea gas and oil explorer, has reported that operations have begun on the Orchid exploration prospect, where it has a 15% interest. This marks the start of the firm's 2012 exploration programme, which it is currently intended will include the drilling of up to a total of seven wells targeting total best estimate net risked prospective resources of around 14.3m barrels of oil equivalent. Valiant Petroleum also has a 30% stake in Orchid.
Global Petroleum has completed the sale of its 15% working interest in the Olmos asset, which is part of the Leighton Project in Texas, USA, for $2.8m. The interest has been sold to US outfit SV Resource Partners, who have also bought up the interests in the Leighton Project from Texon Petroleum, the major participant in the project.
San Leon Energy has begun drilling at the Szymkowo-1 well on its Szczawno Concession in the Baltic Basin, Poland. The well is designed to test the deep unconventional gas potential of the Lower Silurian, Ordovician and Upper Cambrian strata. This is the third well in the initial three well programme in the Baltic Basin with Talisman. The Szymkowo-1 well will be the southernmost and deepest penetration of the Paleozoic section in the Baltic Basin.
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Mediterranean Oil and Gas has signed a gas sales contract with Repower Italia covering the entirety of its Italian subsidiary the Medoilgas's net gas production from the Guendalina gas field. The contract lasts for one 'thermal' year, commencing from October 1st 2012, and will be automatically renewed by a further year unless terminated by either party.
