Asian Activities Report for October 20, 2011: Hawkley Oil and Gas (ASX:HOG) Announces Three-Fold Increase in 2P Reserves
Sydney, Australia (ABN Newswire) - Hawkley Oil and Gas Limited (ASX:HOG) announces a three-fold increase in the remaining 2P reserves in the B18b gas accumulation in the Sorochynska Field in Ukraine. Remaining 2P reserves of gas have increased to 40.7bcf and remaining 2P reserves of condensate have increased to 1.0 million barrels. If fully developed, production in B18b is expected to peak at 30MMCF/day gas and 1,000bbl/day condensate in 2014, and will continue through 2022.
Jameson Resources Limited (ASX:JAL) has entered into an agreement to acquire Dunlevy Energy Inc. and its Dunlevy coal project, and will also be acquiring certain coal projects from Nexx Coal Inc.. All these coal assets are located in northeast British Columbia, Canada and encompass approximately 46,700 hectares of exploration ground. Upon completion of the acquisitions, Jameson Resources will appoint Canada-based coal mining executive Mr. David Fawcett as Non-Executive Chairman to strengthen the management team.
Dragon Mining Limited (ASX:DRA) announces the final results from the fourth phase drilling programme on the Juomasuo deposit at the Kuusamo Gold Project in northern Finland. The results have confirmed the continuity of identified lodes at Juomasuo, returning high grade gold intersections. Further drilling is being planned to test the depth and strike extensions of identified lodes in the southern portion of the deposit.
Molopo Energy Limited (ASX:MPO) has commenced drilling the Parker South 85 exploration well in its Wolfcamp acreage in West Texas. Parker South 85 will test for the presence of oil and gas, and is expected to reach total depth of approximately 9,900 ft before mid-November 2011. If prospective, the well will be fracture stimulated and completed to test oil production levels. Initial flow rates will be available in Q1 2012.
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