May 22, 2013 - Santos announced the start of oil production from the Fletcher Finucane development in the Carnarvon Basin offshore Western Australia. The $490-million project was sanctioned in January 2012 and was completed ahead of time and on budget. Fletcher Finucane consists of three subsea wells tied back to the Santos-operated Mutineer Exeter floating, production, storage and offloading (FPSO) vessel. The three wells are expected to produce at a rate of 15,000 bopd through the first 12 months of production. Addition of the tie-back will help extend the economic life of Mutineer Exeter.

May 22, 2013 - Following an independent review and certification, AWE Limited increased its estimate of recoverable oil for the Ande Ande Lumut (AAL) K Sand development by 33% to 101 million barrels. An additional 35 million barrels of gross recoverable oil in the G Sand have also been classified as 2C contingent resources. The added resources have increased AWE's Northwest Natuna PSC 2P reserves by 83% to 110 MMboe. AWE is in the process of finalizing preparations for a farm-out agreement of up to 50% of AAL. Completion of the farm-out is expected to be announced in 3Q 2013.

May 22, 2013 - Salamander Energy has seen a sharp rise in production from the Bualuang field due to the addition of the Bualuang Bravo platform in November 2012. Eight development wells have been completed and added to the production stream. One of the eight wells was drilled into the T2 reservoir which underlies the main T4 reservoir. That well has consistently flowed at 3,000 bopd since start-up which is substantially higher than the T4 wells. The Atwood Mako (400' ILC) carried out the drilling program and will drill an additional T2 production well before the rig mobilizes to begin an exploratory campaign in block G4/50.

May 22, 2013 - Salamander Energy was forced to call a halt to drilling operations in its SE Sangatta PSC upon encountering unexpectedly high pressures in the North Kendang-1 well. A high-pressure wet-gas kick was taken as the well entered the first Upper Miocene sand. An extensive sub-surface and operational review has been conducted and it was determined that the well cannot be safely drilled without the use of Managed Pressure Drilling (MPD) equipment. MPD equipment is not readily available in Indonesia so the time needed to import the equipment precludes the use of the rig currently under contract. The limited results from the well are encouraging and Salamander intends to continue the North Kendang drilling program as soon as possible.

May 22, 2013 - Talisman Energy announced first oil from its Hai Su Trang and Hai Su Den (HST/HSD) development off the coast of Vietnam. Completion of the development occurred ahead of schedule and within budget. HST/HSD is located on the western edge of the Cuu Long Basin in Block 15-2/01. Field facilities include two wellhead platforms that have been tied-back to the Te Giac Trang FPSO. Thang Long Joint Operating Company operates the development and is a joint venture between Talisman Energy (60%) and PetroVietnam (40%). Gross production is expected to reach 15,000 bopd one facilities are fully commissioned.

May 22, 2013 - Det norske announced the start of production from the first well in the Jette field on the Norwegian continental shelf. Jette has been developed as a subsea installation tied-back to the nearby Jotun B platform. A second well is expected to be brought into production near the end of May 2013. Det norske estimates the field will flow between 6,000 and 7000 bopd once both wells are on-line.

May 17, 2013 - ExxonMobil contracted FMC Technologies to supply subsea equipment for the Julia field in the US Gulf of Mexico. The decision to develop Julia was recently made by the US oil major and its partner Statoil. FMC will provide six subsea trees, a manifold with associated tie-in equipment for the deepwater field. Julia is located in the Walker Ridge area and boasts water depths of 7,000-feet. The partners expect to bring the field on-stream in 2016.

May 17, 2013 - Pemex announced its third ultra-deepwater discovery in the Mexican sector of the Gulf of Mexico. Maximino-1 was drilled in the Perdido Basin in 9,515 feet of water. The company did not give specific details concerning the well but did state that crude had been discovered. Well testing is underway to assess recoverable volumes.

May 16, 2013 - In anticipation of the third development phase of the Bayu-Undan gas field in the Timor Sea, ConocoPhillips issued a $26 million contract to FMC Technologies for the supply of long lead items such as subsea trees, wellheads, jumper kits and associated control systems. Detailed engineering and additional procurement activities will begin once the field partners announce the final investment decision mid-2013. Additionally, the partners are seeking a suitable semisubmersible to carry out the third phase development drilling program which is expected to begin 2Q 2014.

May 16, 2013 - Xodus Group has been selected by Premier Oil to conduct a front end engineering and design (FEED) study for the Catcher field development in the central North Sea. To complete the $1.9 million FEED study, Xodus will develop and engineer field and subsea architecture, flow assurance processes, subsea control systems, pipelines and tie-ins, as well as provide technical safety and risk support. Premier and its partners, Wintershall and Cairn, hope to have the design phase completed by 4Q 2013.

May 16, 2013 - GeoPark Holdings acquired a 10% working interest in Brazil's largest producing natural gas field through the acquisition of a Panoro Energy subsidiary. The Manati gas field is located in block BC-AM-40 in 150-feet of water. Petrobras operates the field with a 35% working interest with partners Queiroz Galvao (45%) and Brasoil (10%).

May 15, 2013 - Statoil, operator of the Mariner development in the UK North Sea, awarded Noble Corp. a 4-year contract to provide development drilling services using a newbuild jackup based on Statoil's Cat J specifications. The rig will be an enhanced version of GustoMSC's CJ-70 design and will be capable of drilling in 500 feet of water to a depth of 33,000 feet using either surface or subsea stacks. Development drilling is expected to commence between May and September 2016. Total estimated value of the contract is $655 million including mobilization costs.

May 15, 2013 - Alaska's Oil and Gas Conservation Commission completed its final inspection of the Endeavour, Spirit of Independence (300' ILC) and issued the final certificate that was needed for the rig to start drilling in Alaskan state waters. Upon receipt of the certificate, Endeavour spud the Cosmo-1 well which is testing a portion of the Cosmopolitan oil discovery. Cosmo-1 will be drilled vertically to a depth of 8,000 feet. Once TD is reached, the well will be plugged back to the bottom of the Tyonek gas formation so that the zone can be perforated and flow tested to determine commerciality. Buccaneer (25%) operates Cosmopolitan on behalf of its partner, privately-owned BlueCrest Energy.

May 15, 2013 - A second drill stem test (DST) was carried out on the Lengo-2 appraisal well in the Bulu PSC offshore Indonesia. AWE reported achieving a maximum flow rate of 21.2 MMscfd. Flow rates and gas samples correspond with the first DST that was performed on the well and are inline with pre-drill expectations. Data from Lengo-1 and Lengo-2 will be combined to form a more accurate assessment of the possible development potential of the Lengo field. The Bulu PSC joint venture partners include KrisEnergy (42.5%) as operator, AWE Limited (42.5%), PT Satira Energindo (10%) and PT Wijaya Kusuma (5%).

May 14, 2013 - Europa Oil & Gas has been granted consent by the Irish Department of Communications, Energy and Natural Resources to transfer interest and operatorship of Licensing Options (LO) 11/7 and 11/8 to a subsidiary of Kosmos Energy Ltd. Kosmos now operates and owns 85% of the licenses covering a total area of roughly 770 square miles in the South Porcupine Basin on the Irish Atlantic Margin. Under the terms of the farm-in, Kosmos will fully fund a 3D seismic program on each license and pay 85% of costs incurred by Europa to date. The partners will now submit an application to the Irish Government to convert each license into a 15-year Frontier Exploration License. Key targets in each license are the Mullen and Kiernan prospects which represent the same Cretacious stratigraphic play Kosmos pursued in the Atlantic Margin Basins off West Africa.