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Deal Report – Feb 14 – Apr 14

Table of Contents.
Click a region to jump to it.
The numbers next to each entry indicate the number of deals that took place that region.
For North America domestic deals were excluded from this count.
East Africa (10)
North Africa (7)
West Africa (14)
South & East Asia (22)
Middle East (14)
North America (8)
South America (22)
Europe (23)
Former Soviet Union (10)
Australasia (15)
China (1)
Financing

East Africa

30 Apr 2014
o OMV AG reported it will acquire 35% participating interest in Madagascar
onshore Blocks 3109 and 3111 from Tullow Oil PLC, which will retain 65%
and continue as operator. The transaction is subject to approval from
Madagascar’s government.
9 Apr 2014
o Tower Resources has farmed-in to 15% of Block 2B Kenya, agreed with
Taipan Resources, for 15% working interest (Taipan currently 45%). Farm-in
terms are US$4.5 million cash, 9 million Tower shares in two tranches and
US$1.0 million contingent payment on spud of a second well.
21 Mar 2014
o Jersey-registered Safari Petroleum and partner Western Energy were
awarded on 20 Mar 14 a 17,697-sq km licence over deepwater blocks D, E &
F, now redesignated blocks 38, 39 & 40 (Comoros). The PSC was agreed
upon between Safari and the ministry last December, and ratification had
been pending since. Safari (op) 25%, Western Energy 75%.
o Bahari (op) 40% and Discover Exploration. were awarded 60% of blocks A, B
and C, total 18,000 sq km in deepwaters and now redesignated blocks 35, 36
& 37 (Comoro Islands). The initial contract was signed a year ago but then
invalidated in October after a govt reshuffle mid-year. 2D infill seismic is
planned shortly.
10 Mar 2014
o Swala Energy has announced the signing of a binding farm-out agreement
for a 25% working interest in Block 12B (Kenya) with an international
integrated oil and gas company, that will see Swala free carried through two
exploration wells. The principal terms of the farm-out agreement are that the
Farmee will pay Swala’s past costs with regards to exploration and any work
programme agreed to by a majority vote under the Production Sharing
Agreement in excess of the work commitment under the PSA. Completion of
the farm-out is subject to certain conditions including the consent of the
Kenyan Government and the Competition Authority of Kenya, until which
point the Farmee has requested confidentiality. Upon completion of the
transaction Swala will retain a 25% net working interest in Block 12B, the
Farmee will own a 25% net working interest and Tullow Oil will hold a 50%
net working interest and continue to act as the Operator.

4 Mar 2014
o Africa Oil Corp has announced that it has received Ethiopian government
approval in respect of two farmout agreements:
 Marathon Oil Corp, through its wholly-owned subsidiary Marathon
Ethiopia, will acquire a 50% interest in the Rift Basin Area. Under the
terms of the Marathon Oil farmout agreement, Marathon Oil will
acquire a 50% interest in the Rift Basin Area in Ethiopia. Africa Oil
will maintain operatorship of the block, but Marathon Oil has the right
to assume operatorship if a commercial discovery is made. In
consideration for the assignment of this interest, Marathon Oil will
pay Africa Oil an entry payment of $3 million in respect of past costs,
and has agreed to fund $15 million of Africa Oil's working interest
share of joint venture expenditures in the Rift Basin Area.
 New Age Ethiopia acquire a 40% interest in the Adigala Block. Under
the terms of the New Age farmout agreement, New Age will acquire
an additional 40% working interest in the Adigala Block, in Ethiopia.
Following completion, Africa Oil's interest will be reduced to 10%. In
consideration of the assignment New Age will carry Africa Oil's
working interest share of a planned 1,000 km 2D seismic work
program in the Adigala Block. Completion of this transaction is
anticipated in March 2014.
o WHL Energy has signed a farm-in agreement with Ophir Energy under which
Ophir will farm-in to earn a 75% interest in WHL Energy’s exploration
interests offshore the Seychelles. Under the terms of the farm-in, Ophir will
fully fund the acquisition of 1,500km2 of 3D seismic (Initial Seismic), up to a
total amount of US$17 million. On meeting the conditions of the farm-in
agreement, including formal regulatory approval by the Government of the
Seychelles, Ophir will pay WHL Energy US$4 million in cash for partial
recovery of back costs.
5 Feb 2014
o Hitherto-unreported, PetroSeychelles granted Jogmec an offshore licence in
Oct 13, location west of the islands and active acreage. This was defined as
a ‘Study Area’ under an agreement signed between the Seychelles and
Japan in mid-2013. 3D seismic is planned shortly.
4 Feb 2014
o FAR Ltd has completed the first farm in deal on its highly prospective
onshore and offshore Kenya exploration permit, Block L6, located in the
Lamu basin. Under the terms of the farm-in with Milio E&P Limited and Milio
International, FAR will be fully funded through $30 million (FAR estimate) of
drilling and testing of a high impact onshore exploration well in Block L6
expected to spud in H1 2015. FAR will also be fully funded through the
acquisition, processing and interpretation of a regional onshore 1,000 km 2D
seismic survey. This is expected to confirm a number of prospects in L6 as
drill targets. This seismic program is expected to commence in April 2014.

This is the Company’s first offshore block in Egypt. The award remains subject to final approval from the relevant authorities.325%. includes seismic acquisition and the drilling of one exploration well. Following the completion of the Transaction. SK Innovation is due to pay Fastnet accumulated back costs of US$20.4 million. the Algerian National Company for Hydrocarbons. a subsidiary of Kosmos Energy Ltd. It covers an area of approx. onshore Ghadames Basin (Tunisia).168-sq km Zaâfrane block in the Kébili governorate.720-sq km Guelma prospecting permit in the Sud-Tellian Atlas (Algeria). The assignment has been effected by way of a sale and purchase agreement. starting Sep 14. SK Innovation 9.925%. The award is under the Production Sharing Contract terms previously promulgated by the SADR. and ETAP 50% carried.375% interest in the Foum Assaka Licence. offshore Morocco. 13 Feb 2014 o Petroceltic International has announced the agreed sale of an 18. BP Plc 26.375% interest in the Foum Assaka Licence. Sonatrach was reportedly granted the 28.980 sq km block was awarded in April 2013 as part of a competitive bidding process. The deal calls for US$50 MM expenditures in the block.375% interest in the Isarene Production Sharing Contract. 4. a further exploration well (also capped at USD$100m gross). Up to 2 wells are planned. Fastnet holds its interest in the Foum Assaka licence area through its wholly owned subsidiary Pathfinder Hydrocarbon Ventures Limited. 125 and 127. Fastnet will hold a 9. Multiple play types have already been identified within the acreage and plans for the first exploration phase of four years.375% and ONHYM the remaining 25%. Mazarine meanwhile completed 3D seismic (DA 18 Feb 14) over an extension of Sabria and the Algeuia prospect. covering water depths from 20 up to a 1000 m. to SK Innovation. Fastnet is also carried through its share of the drilling costs for the FA-1 well.375% interest in the Isarene PSC covering Blocks 228 and . at SK Innovation's discretion. 21 Mar 2014 o The Government of the Saharawi Arab Democratic Republic (SADR) has awarded the Bir Lahlou Block to the UK-based Red Rio Petroleum.600km2 with water depths less than 500m. 18 Feb 2014 o Dana Gas has signed an agreement for the North El Arish (Block 6) Concession Area. 142. which has now commenced. This licence area is adjacent to the Company's Loukos and Rabat Deep licences and sits in the near shore. with Kosmos Energy Deepwater Morocco. o Dutch-registered Mazarine Energy has obtained a 90% stake from Medex in the 5. up to a gross well cost of $100m as well as either an appraisal well or. The permit includes grid blocks 141. The 2. offshore the eastern Nile Delta. Following completion of the transaction. effective from 18 March 2014. holding 29. The area is also referred to as Ain Regada. of which an appraisal.North Africa       30 Apr 2014 o Fastnet Oil & Gas has announced the formal completion of its farm-out of a 9. to Sonatrach. which also encompasses the Sabria field. under which Sonatrach will acquire an 18. 20 Feb 2014 o Pursuant to an application in October 2013. Medex retains a 10% participating interest. 122. 18 Mar 2014 o Chariot Oil & Gas has announced that its wholly owned subsidiary. which includes the world class Ain Tsila gas condensate discovery. onshore Algeria. Chariot Oil & Gas Investments (Morocco). has been awarded a 75% interest and operatorship of the Mohammedia Reconnaissance Licence offshore Morocco in partnership with the Office National des Hydrocarbures et des Mines ('ONHYM') which holds a 25% carried interest. which is currently ongoing.

. a further US $140 million payment of Petroceltic’s share of Isarene project development cost from the effective date of 4 July 2013 and contingent payments of up to US $20 million based on the achievement of certain project related milestones. The terms of the agreement with Sonatrach provide for a consideration of up to a maximum amount of US $180 million. The amendment to the Isarene PSC (or ‘Avenant’) required to give effect to the transfer was signed by Sonatrach. The consideration comprises US $20 million payment on completion of the transaction.229a. Petroceltic and Enel at a ceremony in Algiers on 12 February 2014.

 In Block 38. the 15% working interest will be acquired from the operator. the 15% working interest will be acquired from China Sonangol for an upfront payment of US$59m (US$30m net to Genel). 25 Mar 2014 o The Shallow Water Tano block. £924 million for the entire issued and to be issued ordinary share capital of Heritage. with the remaining 15% held by the Namibian national oil company NAMCOR.  As a result of the Arrangement. OMV will take 25% while Murphy will be the operator of the joint venture. for a total consideration value of US$222m (US$111m net to Genel). Russia. In each transaction. together with White Rose Energy Ventures.500m. Heritage has E&P assets in Nigeria.  In Block 39. with an interest of 40%. Libya. The company did not say how much it intends to spend on acquiring the stake. with the carry on the first exploration well capped at US$123m (US$61m net to Genel) and the remaining US$99m carry (US$50m net to Genel) paid in the event that Genel/White Rose elects to participate in additional activity on the Block. Pakistan and Papua New Guinea.000km2 in water depths of 1. The transaction involves the acquisition of a 65% interest in two exploration blocks by Murphy Luderitz Oil Co (Murphy) and OMV from the Brazilian company Cowan Petroleum. for a consideration comprising a pro rata share of past costs and a partial carry of Statoil’s share of the first exploration well. 11 Apr 2014 o Cepsa has acquired a 30% stake in a block offshore Liberia through a farmout agreement. Blocks 38 and 39 are situated in the Kwanza Basin and cover an area of c. 971 sq km in the Tano/Côte d’Ivoire Basin (Ghana). Caracal has paid to TransGlobe a termination fee of US$9. was awarded to Camac following ratification on 22 Mar 14.50 per common share by way of Plan of Arrangement. This is the company’s first asset in West Africa and fits into its planned expansion into emerging markets. Statoil Angola Block 39 AS (a wholly-owned subsidiary of Statoil). a 15% working interest will be acquired by a 50/50 Genel/White Rose joint venture company. Under the farm-out agreement Cepsa will participate in the drilling of two exploratory wells before August 2016.West Africa      30 Apr 2014 o Energy Investments Global has reached agreement with the Independent Directors of Heritage Oil on the terms of a recommended cash offer of approx. The joint venture partners will conduct an extensive 3D seismic program starting in Q2 2014.14. All consideration will be paid by carrying Statoil’s share of expenses on the block. 14 Apr 2014 o Glencore Xstrata and Caracal Energy have reached a definitive agreement for a wholly owned subsidiary of Glencore to acquire Caracal for an all cash consideration of £5. The interests will be acquired through two separate transactions. it has agreed to acquire 15% working interests in Blocks 38 and 39 offshore Angola. LB-10. representing a pro rata share of past costs. o Genel Energy has announced that.25 million as required under the terms of the Proposed TransGlobe Merger. The block. Termination is on the basis that the unsolicited proposal from Glencore constitutes a Superior Proposal. Tanzania. is operated by Anadarko Petroleum Corp.500-2. Malta. Cowan will retain 20% equity. Caracal holds assets in Chad. The block was formerly Tullow’s (less the Ebony discovery area retained by . Caracal is also announcing that it has terminated a prior agreement under which it proposed to merge with Calgary-based TransGlobe Energy Corp. 3 Apr 2014 o OMV and Murphy Oil have farmed into Namibia offshore blocks in deal with Cowan Petroleum.

459 km² in shallow waters in the Senegal Basin off the West African coast and is adjacent to the Block Rufisque Offshore area operated by Cairn Energy.     InterOil). Whilst Block 2913B was a separately negotiated transaction. Signet meanwhile is still looking to sell its interests in Benin. Sonangol (15%). Sierra Leone and Tanzania. in addition to its four existing licences offshore South Africa. 450 sq km in deepwaters of the Tano/Côte d’Ivoire Basin (Ghana). SSI (a joint affiliate of Sinopec and Sonangol.  In Guinea Bissau. Namcor retains a 10% carried interest. Target coal seams in the Prince Albert formation. Burundi. Impact has acquired an 80% interest in Block 2913B. was allocated to Nigerian Amni International on 24 Mar 14 following parliamentary ratification. The Djiffere Licence area covers approx. GNPC and GNPC E&P. The transaction is valued at US$750 million and remains subject to customary approvals. The block is operated by Eni (35%) with partners Total (15%). the opportunity initially arose through Black Star. This significant transaction gives Impact two new offshore assets off the west coast of Africa. the national oil company of Guinea Bissau). Partners Amni & GNPC. . will run 7 years exploration and has commitments to US$30 MM expenditures. Impact has acquired a 90% interest in Block 4B (the remaining 10% is held by Petrogin. 4 Feb 2014 o Total has announced the sale of its 15% participating interest in the offshore Angola Block 15/06 to Sonangol E&P. the remaining 20% is held by NAMCOR (The National Petroleum Corporation of Namibia (Pty) Ltd) and Southern Oil and Gas Explorers (Pty) Ltd. total 12. 14 Mar 2014 o Canadian-registered SOAR Energy was awarded reconnaissance rights to blocks 2418. 4. including a blowout. Base Energy. in the past. 18 Feb 2014 o Shell has acquired a 90% stake and operatorship from Signet Petroleum in blocks 2913A and 2914B. wells having been drilled. The area is known to hold CBM potential. offshore Senegal. 13 Feb 2014 o Impact Oil & Gas.299 sq km in the deepwater Orange Basin (Namibia). 20 Feb 2014 o Cap Energy has acquired an indirect interest in the oil and gas exploration licence on the Block Djiffere. Statoil (5%) and Falcon Oil Angola Investimentos (5%). Partners Camac (op). In Namibia. 25%). has acquired 100% of the share capital of Black Star Petroleum (a UK Registered company) for a combination of cash and Impact shares. the Africa focused specialist upstream explorer. which remains subject to the approval of the Government of Namibia.000 sq km onshore in the Nama Basin (Namibia) and adjacent to the Eastern border with South Africa. o The Central Tano block. 2518 + 2519 totalling ~37. each holding 10% respectively.

the sub-phase 4 well commitment to be deferred to late 2014 as a result of the suspension on force majeure in 2013. 1 Apr 2014 o Roc Oil Company has announced the farm in to a Production Sharing Contract (PSC) which includes three fields D35. The Fields are currently 100% owned and operated by PETRONAS Carigali and ROC has farmed into a 50% participating interest. KrisEnergy holds a 25% working interest in each of Block 105 and Block 120. 14 Mar 2014 o The Filipino authorities has approved the reassignment of BHP’s former 60% equity in SC-55 to Otto. the other partners in the contract areas. drilling operations . Work commitment timing will accordingly be revised.4 million for KrisEnergy’s working interest share. 17 mmscf/d gross working interest. Eni and KrisEnergy. Newfield International had invited international bids for its interest in Newfield Malaysia and SapuraKencana was selected as the winning bidder after a two-stage bidding process. USD 1. 27 Mar 2014 o Ophir Energy has announced that it is has been provisionally awarded a block in the Myanmar offshore licensing round. As required under the joint operating agreements for Block 105 and Block 120. namely Hess Thailand Holdings II Limited (HTH) and Hess Exploration Thailand Company Limited (HETCL).000 million which will be funded by PTTEP’s cash. ROC will pay US$25 million plus a carry with a 50% participating interest of US$80 million for the project spread over Phases 1 and 2. The transaction of HTH closes on April 22.9 million. issued default notices on 7 March 2014 to Neon Energy in respect of Neon Energy’s outstanding due and unpaid cash calls amounting to US$22.000 bopd and gas sales of approx. assumed the costs of the Default Amount pro rata. located offshore Malaysia in water depths of approx. respectively. taking its interest to 93. with the remaining 50% of each contract area held by Eni and 25% by Neon Energy. the operator of Block 105 and Block 120 (Vietnam). which amounted to US$7.33% working interests in both contract areas. including default interest up to 7 March 2014.18%.7 mmboe. ROC’s economic interest (50%) of the 2P reserves from the Fields is 8. The details of HTH and HETCL are as follows:  Own 15% interest in block B12/27 (mainly in Pailin . Separately. The Fields are in production with a combined daily oil rate of approx. Neon Energy’s 25% working interest will accordingly be transferred to Eni and KrisEnergy proportionately. resulting in Eni and KrisEnergy holding 66.66% and 33. 2014 while the transaction of HETCL is expected to be closed within May 2014 as prescribed in the SPA. The increase in working interest will result in a similar pro rata increase in the share of any unrecovered cost pools. 50 metres. Morakot and Ubon fields) and block G7/50 of Contract 4 Project  Own 35% interest in Block EU-1 and Block E5 North of Sinphuhorm Project o The total consideration of transaction is approx. 10. 15 Apr 2014 o Eni Vietnam.South & East Asia       23 Apr 2014 o PTT Exploration and Production (PTTEP) has signed Share Purchase Agreements to acquire 100% equity stakes of the subsidiaries of Hess Corp in Thailand. KrisEnergy’s pro rata assumption of the Default Amount has no material effect on its financial condition or business operations. 12 Mar 2014 o SapuraKencana Petroleum has completed the acquisition of Newfield International Holding's interest in Newfield Malaysia Holdings for US$895. D21 and J4 (Fields).1 million.

a Myanmar-based company. 2. which spans more than 2. offshore Tanzania. is located approx... following which it has an option to proceed into a three year exploration work programme. Unocal Myanmar Offshore Co. The license has been awarded to Statoil and ConocoPhillips. 5 Mar 2014 o Talisman has agreed to farmout its 7. in the Rakhine basin.567. These are located in the Rakhine Basin.5% interest in the 5. o Together with partner ConocoPhillips. 20 Mar 2014 o KrisEnergy has been awarded 100% working interest and operatorship of the production sharing contract for Block 115/09 offshore Vietnam. and Bangladesh Petroleum Exploration & Production Company Limited (BAPEX). to a limit of US$10 million per annum. Block AD10 cover more than 9.48%. Pertamina 20. which holds 10%. 125 miles (200 km) northwest of Yangon. Risco Egy 5%. Talisman 7.851-sq km Offshore Southeast Sumatra (Indonesia) block to Pertamina. Saka Energi 8.000 km2.91%. in the western offshore area of Myanmar and were awarded as part of the government's 2013 Offshore Bid Round. offshore East Java in Indonesia. offshore Gabon and the Taachui well on Block 1. and is located 200 km from the coast in water depths of approx. 13 Mar 2014 o KrisEnergy has been awarded a 45% non-operating working interest in the production sharing contract (PSC) for the shallow sea Block SS-11 offshore Bangladesh. KrisEnergy (Asia) Ltd. will be the operator of the block with a 99 percent interest. o Roc Oil Company has advised that it has been notified by the Myanmar Ministry of Energy (MOE) of the successful award of a Production Sharing Contract (PSC) for shallow water Block M07 in the Moattama basin.54%. 3 Mar 2014 o Carnarvon has agreed to sell half of its 40% interest in its Thai assets to Loyz Energy for US$65 million with US$33 million to be paid on completion and up to US$32 million to be paid annually at the rate of 12% of the buyer’s future revenue. The block award includes a provision for the JV to undertake an 18 month Environmental Impact Assessment and Study Period. offshore Myanmar.375% interest and operate the licence on behalf of the Joint Venture (JV) Participants. 26 Mar 2014 o BG Group has been awarded new exploration acreage offshore Myanmar. The deal is subject to government approval. The company also secured non-operated acreage in Blocks A7 and AD5 (45% equity in each). a wholly owned subsidiary of the KrisEnergy group of companies. Following completion partners will be CNOOC (operator) 65. 28 Feb 2014 o KrisEnergy has been awarded the operatorship and a 95% working interest in the Sakti Production Sharing Contract.      have now commenced on both the Affanga Deep-1 well on the Gnondo Block. and ROC will hold a 59. Statoil has been awarded a deepwater exploration block in the Myanmar waters of Bay of Bengal. The PSC award is subject to finalisation of terms with the MOE. Block A5. The block was awarded following negotiations between Vietnam Oil and Gas Group ('Petrovietnam') and KrisEnergy (Asia). will hold the remaining interest in the block.6 million acres (10. A4 and AD2 (45% and 55% equity respectively). each with a 50% equity share and with Statoil as the operator. Royal Marine Engineering (RME).000 meters. o Chevron has announced that its Myanmar subsidiary. has been granted exploration rights in a block located offshore Myanmar.600 sq km). a wholly owned subsidiary of the KrisEnergy group of companies. The block was awarded to Santos Sangu Field Ltd. which is the operator of the PSC with 45%. BG Group will operate two blocks. The above amounts include working capital adjustments. . Unocal Myanmar Offshore Co.

onshore East Java Basin (Indonesia). 2. o Talisman has obtained a 90% stake in the Sakakemang block. The other participant is Golden Heaven Jaya with a 5% working interest. Committed investments US$15 MM. and contain the Alas Dara and Kemuning fields (12. 26 Feb 2014 o Nido Petroleum has advised that.500 sq km of 3D seismic + 3 wells. in accordance with the terms and conditions of the farm-in agreement with Lundin Baronang. a subsidiary of Cakra Nusa Darma. the Company has exercised its option to increase its participating interest in the Baronang Production Sharing Contract (Indonesia) from a 10% participating interest to a 15% participating interest. Petronas 15%. Nido had the right to acquired additional stakes up to max.    where the Company is actively developing gas aggregation opportunities. were granted to Pertamina on 26 Feb 14. 2. 27 Feb 2014 o The Cepu C and Cepu D sub-blocks. 20%.837 sq km offshore West Natuna Basin (Indonesia). Interests are Total (op) 85%.400m. aggr. Nido 15%. The 2. signature bonus $1 MM. depth 5. from Sakakemang Petroleum. Partnership to become Lundin (op) 85%.5 MMbo + 25 BCF gas recoverable). NW Sabah Trough & Platform.300m) of the Baram Delta.000-2. Direct Offer mechanism.900 sq km block lies in deepwaters (1.683 sq km in South Sumatra (Indonesia).. They were previously included in Exxon’s Cepu PSC until the middle of last year. 25 Feb 2014 o Nido has exercised an option to acquire a further 5% interest in the Lundinoperated Baronang block. 20 Feb 2014 o PSC rights to block DW-2E offshore Sarawak (Malaysia) have been granted to Total. Phase 1 commitments (4 yrs) call for 1. . It was awarded in My 2010 under the 2nd round 2009. prior to the spudding of Balqis 1 nfw on 17 Feb 14.

28 Mar 2014 o Petsec Energy has executed an agreement with a wholly-owned subsidiary of AWE Limited to acquire its 21. and Dera Ghazi Khan districts in the NWFP and Punjab).495 sq km in the Indus Basin. Punjab.425 sq km in the Indus Basin (Multan. Khyber Pakhtunkhwa province.377 sq km in the Indus Basin.  OGDC: Orakzai 3369-1 block. partners will be DNO (op) 40%.892 sq km in the Makran Coastal Trough. Punjab.: Peshawar East 3371-16 block. in the Republic of Yemen.083 sq km in the Indus Basin. 2. 1.  OGDC: Palantak 2764-3 block.412 sq km in the Potwar Basin. 2. Balochistan.  OGDC: Pezu 3070-16 block. 2. Plans include 150 sq km of 3D seismic over the prospect.487 sq km in the Sulaiman Fold Belt. Dana Gas 30%.  OGDC : Hetu 3170-7 block. Edison 30%. 26 Feb 2014 o A number of Pakistan 2012 round contracts were signed up on 21 Feb 14. 2.Middle East      8 Apr 2014 o Edison and Dana Gas have signed up to farmin.  OGDC: Alipur 2970-6 block. Khyber Pakhtunkhwa province. 2. Punjab and Balochistan. 20 Feb 2014 .  PPL: Margand 2866-4 block.  PPL: Khipro East 2569-5 block. 1. 2. Dera Ismail Khan. Sindh.  OGDC: Zorgarh 2868-7 block. with 30% each. Balochistan. Completion of the transaction is subject to customary approvals from the Joint Venture Partners and the state owned Yemen Oil and Gas Company. 2.457 sq km in the Makran Range. Al Barqa Permit. 2. Upon deadline last March.  PPL: Khipro East 2569-5 block. Sindh. Rahimyar Khan district of Punjab).  OMV: Kuhan 2867-5 block. 66 bids had been received for 50 blocks. 2. 2. 2. The licence contains the Al Hamra prospect in the SW of the area. 4 Mar 2014 o The Pakistani government has announced additional awards:  Al-Haj Enterprises: Baska North 3169-4 block. Mardan and Nowshera districts in Khyber Pakhtunkhwa and Attock district in Punjab). Bahawalpur. PPL partner. and working capital adjustments on completion.432 sq km in the Indus Basin. Balochistan. 2.  OGDC: Khanpur 2870-7 block. the replacement of AWE’s existing Letter of Credit with the Arab Bank.25% Participating Interest in the Block 7.431 sq km undrilled straddling the Upper Indus Basin / Potwar Basin / Sulaiman Fold Belt (Tank.708 sq km in the Potwar Basin.402 sq km in the Indus Basin. to DNO’s 884-sq km Ras Al Khaimah Onshore block (UAE).840 sq km undrilled in the Peshawar Basin (Swabi. Upon conclusion of the JOA.498 sq km in the Kirthar Fold Belt. The terms of the transaction include a cash consideration of US$1 million. Lakki Marwat. 2. Sindh. Rahimyar Khan and Muzaffargarh districts in Punjab).  PPL: Shah Bandar 2467-16 block. The latest awards are:  Mari Petroleum.377 sq km in the Lower Indus Basin. Balochistan.  Al-Haj Enterprises: Potwar South 3271-6 block.  OGDC: Parkini Block-A 2564-2.484 sq km in the Kirthar Fold Belt. 1.

50%. field production reaches 4 Tcf. Karsal 3272-18 EL. Resulting interests: Noble (op) 30%.  PPL has been awarded Nausherwani 2864-2 EL.5% interest.94%. the government retaining 22. Leviathan has a current estimated 19 Tcf discovered gas. So far the interests held are TransAtlantic (op) 50%. 7 Feb 2014 o Noble and Woodside signed a non-binding MoU over the sale of a 25% interest in the offshore Leviathan Rachel and Amit licences (Israel) to Woodside. Woodside will operate any LNG development. Delek 16. Delek. spudding 2Q 14. The deal carries a US$525 MM cash value for Noble. effective 27 Jan 14. plus $502 MM in shared future revenues. Sindh (Pakistan) have been awarded to ONGC. An additional payment of $19 MM net to Noble will be made should ultimate recoverable Leviathan resources exceed 20 Tcf gross gas. and after cum. . Block 4642 covers 499 sq km in the Zagros Fold Belt.  The agreements with OGDCL include Ladhana 2970-7 EL.o   TransAtlantic and partner Selsinan Petroleum have signed to farmout a 50% stake in block 4642 (Idil. o Developmentt & production rights for the Gopang-1 gas-cond discovery in the Hyderabad district. Leviathan partners Noble. Ranipur 2768-11 EL. Avner and Ratio are participating as sellers. Avner 16. Woodside 25%. who will fund up to US$3. 7 went to OGDCL and 5 to Pakistan Petroleum Ltd. An exploration well is planned targeting the Mardin fm. Of those. OGDC are the operator with a 77.94%. Rasmalan 2564-4 EL and Parkini Block-B 2564-3 EL. Fatehpur 3071-4 EL.12%. 12 Feb 2014 o The Pakistan authorities have signed 12 awards. Turkey) to Norway’s Onshore Petroleum Co. SE Turkey.5 MM of TransAtlantic’s exploration costs and 50% beyond. Ratio 11.5%. Armala 2469-9 EL. Bela West 2566-6 EL.. Noble will continue as upstream operator but following completion of the deal. Selsinan Petr. Hisal 3372-23 EL and Sadiqabad 2870-5 EL blocks. Baratai 3371-17 EL.

for AU$4. Hilcorp is expected to become the operator of the Endicott. The Company expects to recognize a non-cash loss of approx. 100% of the shares of Aurora.7%. As a result of the sale and subject to approval. The proceeds from the sale are being used to reduce the Company's indebtedness and to fund ongoing operations. $30 million associated with the sale when it reports earnings for the first quarter of 2014.7%.000. BP also expects to submit a development plan for Liberty by the end of 2014.050 sq km in the Mancos and Cane Creek shale plays in Grand and Emergy counties. 16 Apr 2014 o Pioneer Natural Resources Company has announced that it has closed its previously announced sale of its Alaska subsidiary to Caelus Energy Alaska for cash proceeds of $300 million. 7 Feb 2014 o Canadian Baytex Energy and Aurora Oil & Gas have entered into an agreement whereby Baytex will acquire. bought from Rockies Standard Oil for $2 MM. . plus other consideration.10 cash per share. $2. The permit is expected to be finalized 1Q 14. subject to normal closing adjustments. 10 Apr 2014 o Neon Energy has executed a binding Purchase & Sale Agreement with a major Californian exploration and production company for the sale of the Neon's Californian assets with a purchase price of US$26. $744 million for a total transaction value of approx.195 sq km (Canada).7%. All amounts are in Canadian dollars unless otherwise noted. namely a 75% interest in some 1. Rockies retains a non-operating 25% interest. The buyer. The total consideration to be paid by Baytex is approx.6 billion.950. The sale agreement includes all of BP’s interests in the Endicott and Northstar oilfields and a 50 percent interest in each of the Liberty and the Milne Point fields. An exploration program is scheduled to start in summer 2014 with 15 – 18 stratigraphic wells + 3 explo wells. Ressources Quebec (M&P) 35%. 17 Mar 2014 o UK’s Rose has reportedly obtained shale acreage in the USA. Northstar and Milne Point oilfields and their associated pipelines and infrastructure. $1. 6 Apr 2014 o MENA Hydrocarbons has completed the sale of its Montana (USA) non-core oil and gas leases to an arm's length third party for USD$625. Utah. focusing on the potential for condensate in the Ordovician Macasty fm. Corridor Resources 21.8 billion.000.North America         22 Apr 2014 o BP has agreed to sell interests in four BP-operated oilfields on the North Slope of Alaska to Hilcorp. 14 Feb 2014 o Petrolia and partners (including Maurel & Prom) have been awarded an exploration licence on Quebec’s Anticosti Island covering 6. 21 Mar 2014 o ConocoPhillips secured 16 tracts in Alaska (USA) totalling 207 sq km from the NPRA-2013 and the NS2013W lease sales. on a fully diluted basis. M&P 21. The agreement does not affect BP’s position as operator and co-owner of the Prudhoe Bay oilfield nor its other interests in Alaska. Aurora has operations in the USA. Closing of the agreement is anticipated to be completed within the next few weeks. plus assumed debt of approx. wishes to remain anonymous for commercial reasons. through a scheme of arrangement under Australian law. a subsidiary of a publicly listed company. The sale also includes BP’s interests in the oil and gas pipelines associated with these fields. Petrolia (op) 21. The agreement has an effective date of 1 January 2014 and is conditional upon receiving consent from various lessors to assign the oil and gas leases to the buyer.

This will lead to Rosneft Brazil receiving 51% control and taking over the operatorship in the joint venture in the Solimoes basin.42 and a 66. Petrobras (op) 75%. o The ANH has cleared Statoil’s takeover of Vale’s 25% stake in BM-ES-022A. stock exchange and regulatory approvals are obtained.325 per share on April 25.Based on Petroamerica’s most recent closing price of CDN$0. The relevant transaction amounts to $96 mln. the operator will hold 75% participation interest in such blocks.92 bopd in 2013 from the 1-CAN-003-ES (1-BRSA057-ES) well. The 34-36 API find is currently being appraised by the Montanhês well and 3D seismic is planned in 2Q. Block production averaged 14.215 sq km in the Guyana Basin (Suriname). representing a 36.South America        29 Apr 2014 o Petroamerica Oil Corp has entered into an arrangement agreement with Suroco Energy whereby Petroamerica has agreed to acquire all of the issued and outstanding common shares of Suroco by way of a statutory plan of arrangement under the Business Corporations Act (Alberta). Under the terms of the agreement. cover an area of approx. The companies agreed that Rosneft and HRT will continue exploration activities with respect to the Solimoes project and also agreed the sale of four heli-transportable rigs to Rosneft.4% premium over Suroco’s closing price on April 22. 2014. including the approval by the Brazilian National Petroleum. Natural Gas and Biofuels (ANP). 2014 of CDN$0. Statoil 25%. BAR-M-217.6% premium over Suroco's 10-day volume weighted average trading price. BAR-M-252 and BAR-M-254. 3. This is PTTEP’s first step in expanding investment in petroleum exploration in South America. court. 4 Apr 2014 o PTTEP has signed a farm-in agreement with BG E&P Brasil (BG Group) for 4 predominantly deep water blocks in Brazil with 25% participation interest. Brazil.077 sq kms in the Northeastern deep water of Barreirinhas basin. The block covers 3. a deposit for a portion of the sales price will be paid to Niko in early April. Closing of the transaction is subject to the Government of Trinidad and Tobago. 18 Mar 2014 . namely BAR-M-215. the Exchange Ratio reflects a value of CDN$0. now held 50:50. 28 Mar 2014 o ANP has approved the transfer of Cheim Transportes’ 100% stake in the 43sq km Rio Ipiranga lease (Brazil) to IPI Oil E&P after an 8-year tenure. Suroco holds assets in Columbia. 2014.573 per Suroco Share. PTTEP will hold 25% interest while BG Brasil. The completion of the sale and purchase transaction between the companies shall be subject to the fulfillment of certain conditions. The 4 petroleum exploration blocks. 75% interest owner and operator of the block. Natural Gas and Biofuels Agency (ANP). 25 Mar 2014 o Petronas obtained a 50% interest from Murphy in offshore block 48 on 6 Feb 14. for gross proceeds of $62 million. offshore Espírito Santo Basin and containing the São Bernardo oil discovery (Brazil). Atlantic Ocean. 31 Mar 2014 o Niko Resources has executed a definitive sale and purchase agreement for the sale of its 25% interest in Block 5(c) in Trinidad and Tobago to a subsidiary of the BG Group. The Arrangement is expected to close on or around June 30. provided all required Suroco Shareholder. 24 Mar 2014 o Rosneft has announced that its subsidiary Rosneft Brazil has signed final agreements with HRT subsidiary HRT O&G to acquire an additional 6% in the Solimoes project. BM-ES-22A comprises blocks ES-M468 and ES-M-527. Rosneft will also provide to HRT a loan facility up to $40 mln to finance HRT investments on Solimões for a period of 12 months from the closing date. Upon approval from the Brazil's National Agency of Petroleum.

11 Feb 2014 o Brownstone Energy has entered into an agreement to assign all of its 34.3 MM signature bonus. PetroNova Colombia. Pursuant to the terms of the FOA.o        OGX Petroleo e Gas was cleared for the transfer of a 35% interest in the 768-sq km POT-M-475 block. 6 Mar 2014 o Petroamerica Oil Corp has announced a farm out of a 50% interest in its El Porton Block (Colombia) to Parex Resources Colombia. 2013. including Ecopetrol approval.25% oil and gas participation interest in the Llanos 27 Project located in the Llanos . with Everest. under a service agreement with the current operator. o Hitherto-unrepoted. which is anticipated to spud sometime during the second quarter.S. Under the Agreement. Parex is expected to operate the well. ExxonMobil (op) 35%. Oleo e Gas Participacoes 65%. offshore Potiguar Basin (Brazil). YPF paid a $50 million deposit on the transaction. US$27 million in expenditures are planned over 3 years. Pacific Rubiales will pay PetroNova Colombia a cash consideration of U. The Agreement is subject to certain conditions.S. obligations and duties in respect of the Contract Area in exchange for payment of the work commitments stipulated in the Agreement and the cash payment of $5 million. PetroNova currently owns 90% of the rights to the Tinigua Contract indirectly through PetroNova Colombia. the next exploration well to be drilled on the block. 20 Feb 2014 o Pursuant to the sale of Apache’s Argentine assets to YPF.$33 million to earn a 50% participating interest in the Tinigua Contract. details yet unannounced. which is expected to be completed in the next 30 days. in the Middle Magdalena Basin (Colombia). 2 Mar 2014 o PetroNova has announced that its indirect wholly owned subsidiary. The transaction is subject to customary post-closing adjustments. Everest commits to undertake the funding of a work program with respect to the Contract Area. and will carry the cost of drilling. 710 sq km in the Peten Basin.5 million for back-costs associated with the Tinigua Contract. 4 Mar 2014 o Quattro has been awarded block 4-98. and testing of up to four wells for up to U. Under the terms of the Agreement.240 sq km of Neuquen Basin acreage for US$217 MM to Pluspetrol. including any and all rights. 10 Mar 2014 o Global Energy Development has signed a farm-out agreement with respect to its Bolivar association contract area.$12. OGX was granted a final award for the block only on 17 Sep 13. Everest will acquire a 50 per cent. interest in the Contract Area. 230 sq km in the Neuquen. 273 sq km in the Chaco-Parana Basin (Uruguay). along the border in NW Guatemala. completing. to ExxonMobil. YPF has sold on some 1. YPF also wishes to launch a pilot project with Pluspetrol in the ex-Apache La Calera block. OGX will be reimbursed its 35% share of the US$3. including an obligation to pay all future costs and expenses incurred with respect to the currently proposed operations. 12 Mar 2014 o Apache Corp and its subsidiaries have announced an agreement to sell all of its operations in Argentina to YPF Sociedad Anonima for cash payment of $800 million plus the assumption of $52 million of bank debt as of June 30. what is assumed to be a prospection permit was awarded during September 2013 to Ancap over the Carbon block. To earn its 50% working interest and operatorship on the Exploration Area Parex has agreed to pay 80% of the dry-hole cost for Crypto-1. has entered into a farm-out agreement with a wholly owned subsidiary of Pacific Rubiales Energy for the exploration and potential development of PetroNova's operated Tinigua exploration and production contract awarded by the Agencia Nacional de Hidrocarburos of Colombia (ANH). focusing on the Vaca Muerta.

. Cretaceous sands and the source rock itself. Guajira Basin (Colombia) from Shell. the Colombian government oil and gas agency. Mary’s block comprises 44. subject to the terms of the Model Licence and the Company's bid proposal. These discussions are expected to conclude within the next month. Mary’s block in Trinidad following the submission in the Trinidad Onshore Bid Round 2013.Basin of Central Colombia to Santa Maria Petroleum Inc. The successful bid was formally announced by the Ministry of Energy of Trinidad at the Trinidad and Tobago Energy Conference. in the 2013 Trinidad and Tobago Onshore Bid Round was successful. The deal is subject to ANH approval. The contract is now run by Pluspetrol 65%. The assignment will be effected for no consideration but will result in the release of a $1. and deeper non-conventional oil exploration targets within the thick Cretaceous Villeta .731 acres spread over 4 sub-blocks contiguous to Range's existing Morne Diablo license and the Guayaguayare license (see Niko Resources farm-in announcement on 17 December 2013). o The Peruvian authorities have approved the transfer of Reliance’s 30% in the 12. has acquired a right to an 80% interest in each of the COR 4 and COR 12 Exploration and Production ('E&P') contracts located in the Upper Magdalena Basin of Colombia.85 million letter of guarantee provided on behalf of Brownstone to the Agencia Nacional de Hidrocarburos. The new contracts are located adjacent to the Corporation’s existing COR 39 and COR 11 E&P contracts and are prospective for both shallow conventional oil exploration targets within the Guadalupe sandstone reservoirs.45 percent interest for $40.La Luna shale. The St. The main reservoir targets identified in St Mary’s block are Pliocene Deltaic sands. o Argentine state-controlled oil company YPF said it acquired the stake it did not already own in a block in Argentina's western region from Brazilian energy giant Petrobras. Canacol Energy Colombia.7 million. 2 Feb 2014 o Canacol Energy has announced that its subsidiary. hold discussions with the MEEA in order to finalize the Exploration and Production License for the Ortoire Block. 3 Feb 2014 o Touchstone Exploration has announced that the Ministry of Energy and Energy Affairs has informed Touchstone that its application. Ucayali Basin. Sucursal Colombia. After purchasing Petrobras' 38. which straddles the provinces of Neuquen and Mendoza. YPF said in a statement it now has a 100 percent stake in the Puesto Hernandez block.417-sq km block 108. the Colombian branch of Global Oil & Gas Services and a current participant in the project. 3D seismic is planned in 2014.     5 Feb 2014 o BG has agreed to acquire a 30% stake in the TEA governing Guajira offshore block 3. partner Woodside 35%. The Company will now. 4 Feb 2014 o Range Resources has been successful with its bid for the St. to Pluspetrol and Woodside. Miocene Herrera sands. made through the Company's wholly owned Trinidad subsidiary Primera Oil and Gas.

which tested 1. Other licence partners are Statoil 35% and Rocksource 10% (post-deal).I. It contains the Casa Tiberi gas discovery in Marche. and Cormorant East assets (UK). 29 Apr 2014 o With reference to stock exchange notice issued January 2nd 2014 regarding a farm-in option agreement with Rocksource for the PL528 licence in the Norwegian Sea.) Limited. o Sound has been awarded the 4. the PL722 group of partners will consist of GDF Suez E&P Norge (30%. plus the assumption of certain liabilities and adjusted working capital. Centrica is operator of the licence with an equity interest of 40%. 26 Mar 2014 o North Energy has entered into a sale and purchase contract with Tullow Oil Norge. GdF Suez 15% (PL 248C: Statoil (op) 50%. its 1st holding in the Barents Sea (Norway). The Vranino exploration permit covers 98. Rocksource Exploration Norway (20%).9-sq km San Lorenzo production lease in Italy. The permit is for a term of 5 years with up to an additional 5 years in extensions possible.1% operated interest in the Schooner Field in the UK Southern North Sea gas basin from Tullow Oil for an initial consideration of £35m. Fortis Petroleum Norway (16%). 22 Apr 2014 o Spike Exploration has signed an agreement with Tullow Oil Norge to swap a 15% interest in licence PL494/B/C for a 15% interest in PL722 (Norway). Atlantic Petroleum has announced that the Group has decided to acquire 15% of the participating interest in PL528/PL528B (Norway). VNG 10%. Statoil has further reduced its stake in the 111-sq km PL 230 (part-blocks 7227/8. Spike 10%). After the completion of the agreement. North Energy (20%) and Tullow Oil Norge (15%) while the PL49/B/C partners will be Det norske oljeselskap (30%. Spike 30%.205 acres (397. 8 Apr 2014 o Park Place Energy Corp has signed the License Agreement for the Vranino Block 1-11 with the Ministry of Economy and Energy on behalf of the Republic of Bulgaria on April 1. Petoro 40%. 2014. Grosbeak and Fram H North discoveries. under which North Energy acquires a 10 per cent interest in production licences 591 and 591 B on the Norwegian continental shelf. First Oil Expro will pay $53 million in cash. from which Antrim will settle on closing all outstanding obligations under its Payment and Oil Swap agreements with Credit Suisse AG and Credit Suisse International. Interests are Tullow (op) 80%. Drilling is expected this month on the Gotama prospect. 7 Apr 2014 o Antrim Energy’s shareholders have approved the sale of Antrim's Causeway. Explora 20%. Faroe will hold a 60% operated interests in both fields via this acquisition. Kerloch. After . to First Oil Expro. Spike Exploration Holding / Bridge Energy Norge (15%) and Tullow Oil Norge (15%). Antrim Resources (N. which contains the Astero.3 MMcf/d dry gas. 9 + 10). Dana Petroleum Norway (24%). Spike has agreed to purchase 10% in PL 248C from Statoil. Spike Exploration Holding (15%). Det norske 10%. Resulting interests would be (PL 230) Statoil (op) 35%. 1 Apr 2014 o Further to a recent farm-down to Explora. 3 Apr 2014 o VNG has acquired a 10% stake from Tullow in PL 550 (blocks 31/1 + 2) west of Trol (Norway)l. structured as a sale of Antrim's subsidiary. operator). In addition. 30% going to Spike Exploration. operator). Upon demonstration of a commercial discovery.42 sq km) in northeast Bulgaria.Europe         30 Apr 2014 o Faroe Petroleum has announced the conditional acquisition of a 60% operated interest in the Ketch Field and a 53. the permit can be converted to an exploitation license of up to 35 years in length.

0% 18 Mar 2014 o E.5%) and Scolty/Crathes (50%) developments. Explora 30%. 24 Mar 2014 o The 4-sq km Ormenykut I exploration and development concession (mining plot) was granted to MOL on the 5th of Feb. Resulting interests will be VNG (op) 30%. Cladhan (33.1028 and P. Eden will receive £ 1million in cash together with 33. subject to government approval. Eden will transfer its wholly owned UK subsidiary. 20 Mar 2014 o Explora has agreed to acquire 30% of VNG’s 60% in PL 757. 226B. SE Hungary.0% to 47. The acquired interests are. 25 Mar 2014 o Eden has entered into a conditional Heads of Terms with its existing UK gas and petroleum Joint Venture partners to merge their respective interests. 11 Mar 2014 o Hellenic Hydrocarbons Management Committee successfully completed its work regarding the evaluation of the bids for the exploration and exploitation of hydrocarbons for the Katakolon Block. Linc is focussed on coal and its gasification (UCG process). Hunguary).1830 (including Blackrock prospect): Increase share from 25. SW Poland. The purchase price for the assets is 375 million US Dollar. was granted to MOL on 11 Feb 14 for an indefinite term. In addition. .1189 (including the field Cambo): Increase share from 15. Eni retains 80% + operatorship. in Norway. North Energy also has an option to acquire a further 10 per cent interest in the licences. o Linc has been granted the 134-sq km Kobiór (Północ) CBM licence in the Upper Silesian coal basin.0% to 75. including the field Cambo and the Blackrock Prospect. and its effective date has been set as 1 January 2014. the licensees will comprise Tullow as operator with 90 per cent and North Energy with 10 per cent. Adamo Energy (UK). o Wintershall has closed the transaction with the Hungarian MOL Group.ON is buying a 20% stake from Eni in ex-Statoil PL 226. 2012. north of the Caurus field (7222/11-1). including non-operated equity stakes in the Broom field (29%) as well as the Catcher (20%). UKOG will hold 100% of all the merged UK gas and petroleum licences. UK. the consortium of Energean Oil& Gas / Trajan Oil & Gas / Schlumberger is awarded the offshore block of Katakolon. Agreement has been reached with Hess to acquire four licenses in West of Shetland. The contract is conditional on government approval. Through Wintershall’s divestment of shares in selected assets on the UK Continental Shelf. MOL Group acquires 14 licenses in the North Sea. Centrica 40%. Environment and Climate Change on January 2nd.33% of the aggregate issued share capital of UKOG before it undertakes any capital raising. According to the Committee’s recommendation to Minister Yiannis Maniatis. Katakolon was the third region in Western Greece included in the Open Door bid round. to UK Onshore Gas Limited ('UKOG') (the parent company of the two UK Joint Venture partners of Adamo UK).0%  License P.1831: Acquire 75.5%  License P. 12 Mar 2014 o The 9-sq km Ketsoprony III production/development lease (mining plot) in the Bekes sub-basin. The unit covers the oil & gas zone of the Bekes gas pool. it lies in the Nagykunsag subbasin (Pannonian Basin. 19 Mar 2014 o OMV is expanding its position in the UK core area.  Licenses P. aka the Aurelia licence. Wintershall’s equity share in existing infrastructure on the Sullom Voe Terminal and the Brent Pipeline System are also part of the deal.       the agreement has been implemented. launched by the Greek Ministry of Energy. The blocks lie in the deepwater Barents. adding to the company's Polanka Wielkie Drogi block. blocks 6506/1 and 6506/4 west of Skarv (Norway).

2 Feb 2014 o Rose Petroleum has announced the grant of a new concession covering circa 657. by the Department of Communications.680 feet) Horse Hill-1 exploration well by the end of August 2014.000. 4 Feb 2014 o IGas has announced the completion of a farm-out agreement with Total E&P UK Limited. in licence PEDL137 onshore in the UK Weald Basin. 137 (PEDL 137). Total will pay $1. for hydrocarbon exploration. the Licensing Options to Woodside. which currently own 100% of the 99.050km2 or 75% of the 1.6 million in back costs to the partners and fund a fully carried work programme of up to $46.662.4 km2) in the Weiden Basin. through the drilling of the proposed 2. Energy and Natural Resources. Block 48/22a contains a gas discovery which IOG intends to rename Cronx. HHDL has an exclusive farm-in agreement with Magellan Petroleum (UK). located in the State of Bavaria. £468.000 acres (2.000. with a minimum commitment of $19.5 million. In August 2013. of Frontier Exploration Licences 3/14 and 4/14 in the Irish Atlantic's Porcupine Basin. The terms of the Licence obligates Rose to carry out a programme of works over a three year period to include 2D seismic and geophysical measurements designed to create a geological model of the licence area at an estimated cost of approx. Petrel farmed out 85% of its interest in. The Licence commences on 1 February 2014 for an initial period of three years. €900. which hold the rights to a 65% participating interest and operatorship.5 million.29 sq kms (24. south-east Germany. 4 Mar 2014 o Petrel Resources has announced the award. The acreage licensed collectively covers approx. At the end of the carried work programme Total will become operator of the Licences. The Acquisition is subject to the satisfaction of certain conditions on or before 30th April 2014 including the approval of the Department of Energy and Climate Change. and operatorship of. 5 Feb 2014 o Solo Oil has entered into a Binding Heads of Agreement to buy a 10% interest in Horse Hill Development Ltd (HHDL). . a wholly owned subsidiary of Total SA.646 metres (8. under certain contractual conditions. a special purpose company.     5 Mar 2014 o Independent Oil and Gas has entered into an agreement to acquire 100% of the UK licence Block 48/22a from Swift Exploration for an initial consideration of approx.400km2 previously held under Licensing Options 11/4 and 11/6. Under the terms of the Agreement. a subsidiary of NASDAQlisted Magellan Petroleum Corp. Under the agreement HHDL can earn a direct 65% participating interest and operatorship in the licence. 1. under which Total will acquire a 40% interest in the UK Onshore Petroleum Exploration and Development Licences PEDL139 and PEDL140 located in the Gainsborough Trough in Lincolnshire (UK).525 acre) Exploration and Development Licence No.

Russian Federation.Former Soviet Union        21 Apr 2014 o PetroNeft Resources. Following a series of transactions with Novatek.2 million BOE in 2013. holder of assets in the KhantyMansiysk Okrug. 1 Apr 2014 o Gazprom Neft and Novatek have announced an agreement for 50/50 ownership of SeverEnergia’s shares. 10 Apr 2014 o Frontera Resources has announced that its wholly-owned subsidiary. through a number of joint ventures. The total price of the shares for sale will be around USD 1. to develop Russian shale oil. Frontera will receive a carry on its future expenditure on the Taribani Field and the greater Taribani Field Complex of up to approx. has signed a farmout agreement with Varang Exploration. Frontera Resources Georgia Corp. Frontera will continue to act as managing Operator for all planned operations. situated within Block 12 in Georgia. 20 Mar 2014 o Three Russian shale oil exploration licences were granted to KhantyMansiysk Neftegazovyy Soyuz (Shell-Gazprom JV) for 5 years. W.2 oil producer Lukoil. SeverEnergia is a joint venture of Gazprom Neft and Novatek. SeverEnergia is the 100% owner of Arcticgas which holds licences for the Samburskiy license area (Russia) which includes the Samburgskoye. has entered into a binding agreement in respect of a 50% interest in Licence 61 with Oil India Limited. The Company will retain 100% working interest throughout the balance of its Block 12 holdings.2 billion and will be subject to a number of adjustments as of the closing date. These licenses are Yuilskaya-4 (KhMN02948NP). Russia's main oil producing region. 15 Apr 2014 o Lukoil has signed a purchase and sale agreement that allows the company to sell its 50-percent stake in Caspian Investment Resources to China’s Sinopec. YevoYakhinskoye and North-Chaselskoye license areas (also Russia). Arcticgas also holds licenses for the Yaro-Yakhinskoye. owns various stakes in four hydrocarbon-production projects in Kazakhstan. Siberia (Russia). for the farmout of up to a 50% working interest in Frontera’s Taribani Field and Taribani Field Complex. Gazprom Neft will increase its effective ownership of the joint owned company by 9. a key driver in Moscow's efforts to at least maintain its oil output at more than 10 million barrels per day. US$ 45 million of exploration and development expenditure on Licence 61 and a US$ 5 million performance bonus. Tomsk Oblast. a wholly owned subsidiary of a privately held independent natural resources investment group. US$36 million. East-Urengoyskoye and North-Yesetinskoye fields. Caspian Investment Resources. Statoil and Royal Dutch Shell. Total has also signed a memorandum to develop shale oil in Russia with Russia's No. 3 Apr 2014 o Total has secured the rights to explore three hard-to-recover oil blocks in West Siberia.8% to 50%. Yuilskaya-5 (KhMN02949NP) and . Urengoyskoye. 27 Mar 2014 o Bashneft has taken over Burneftegaz. owner and operator of Licences 61 and 67. PetroNeft will remain operator of Licence 61. Oil India will make a total investment of up to US$ 85 million. ExxonMobil. Total will join other majors. Involved are 4 operated licences owned by subs Sorovskneft and Tortasinskneft. consisting of a US$ 35 million upfront cash payment. Lukoil’s share in commercial hydrocarbon production as part of the above projects equaled 10. Tashinsky and Lyaminsky-3 blocks in Khanty-Manssiisk district. for the costs associated with a seven well drilling program over three phases. Total had received the licenses for the Vostochno-Kovensky.

ORB01950NE (Voinskoye). The new partners are also evaluating further opportunities in the upstream sector. Involved are 4 licences operated by subsidiary OOO Veselovskoye: ORB01952NR (Veselovskiy). 2 appraisals + 1 explo well. Rosneft submitted the winning bid for the 27-year E&P contract.   Lungorskaya Yuzhnaya-1 (KhMN02950NP). 25 Feb 2014 o TPAO has an agreement with MOL to join the latter with 49% in its Baitex sub operating the 7. Orenburg Oblast. Starting price was US$16 MM. Baitex also runs adjacent exploration/production license SMR01703NR (Yerilkinskiy) in the Samara Oblast. Aladdin retains holdings in the Komi Republic under the Geotechnologiya sub. 27 Feb 2014 o Shareholders of Norwegian Aladdin O&G have approved the sale of the company’s Orenburg assets in Russia as part of an $11. ORB01953NE (Besedinskoye) and ORB14001NE (Nikiforovskoye). Commitments for each license include 2D seismic and 1 well.1 MM debt settlement with Nouvos International. . Commitments 100 sq km 3D seismic. Volga-Ura (Russia)l. 6 Feb 2014 o An auction was held 31 Jan 14 for the 159-sq km Passedskiy block in the Nenets Okrug. Timan-Pechora Basin (Russia).000-bd Baytuganskoye production licence (ORB13173NE). which includes the Passedskoye oil discovery.

Upon assessment of the results of Phase 1.058 sq km on the margin of the Fitzroy Trough. La Bella and Tui fields. 5. subject to first hydrocarbons from a commercial development. and will be the Operator. ATP 917P was granted on 25 June 2013 with a commencement date of 1 July 2013. Oil Basins (50%). WA-497-P (formerly release area W13-18). 21 Mar 2014 o Real Energy has advised that it has received notice from the Queensland Department of Natural Resources and Mines that the transfers of ATP927 and ATP917 to Real Energy have been approved. before and after tax).Australasia        9 Apr 2014 o AWE Limited has been awarded a new exploration permit offshore Western Australia. and US$65 million on the first LNG cargo. as part of the Australia 2013 Offshore Petroleum Exploration Acreage Release. Total has acquired – through the purchase of all shares in a wholly-owned InterOil subsidiary – a gross 40. Under the Agreement.1% interest in PRL 15. including the Puka discovery (New Zealand). a six year exploration permit. appraisal and resource certification. Backreef Oil (op) 50%. Pursuant to the Sale and Purchase Agreement between Drillsearch Energy and Real Energy. including those for exploration. Canning Basin. ROC receives an upfront cash consideration of A$1 million (subject to working capital adjustments) and a A$5 million contingent consideration. and will receive US$73 million on a final investment decision for an ElkAntelope LNG project. 27 Feb 2014 . AWE has committed to reprocess the existing permit-wide 3D seismic data using the same state-of-the-art technology that was successfully applied to upgrade the prospectivity in a number of AWE assets such as the Ande Ande Lumut. InterOil will also receive payments for certified gas volumes following appraisal of ElkAntelope. ATP 927P was granted on 24 September 2013 for commencement on 1 October 2013. MEO will earn a 30% interest in the Permit in return for funding NZ$4m (80%) of a NZ$5m first phase work program. MEO can elect within 6 months to earn an additional 20% participating interest in the Permit by funding NZ$7. resulting in a reversal of ROC’s full abandonment obligation. Under the revised agreement signed today. The permit has now been transferred to Real Energy in accordance with the terms of the Sale and Purchase Agreement between Real Energy and Circumpacific Energy (Australia) and Drillsearch Energy. the permit has now been transferred to Real Energy.5% of the licence and immediately receives US$401 million for closing the transaction. 7 Apr 2014 o Kea Petroleum has entered into a Farm-Out Agreement with MEO Australia in respect of PEP 51153. 31 Mar 2014 o Roc Oil Company has signed a sale and purchase agreement to sell its entire 50% participating interest in the Basker Manta Gummy (BMG) field in Australia to Cooper Energy. The sale of the interest includes the transfer of all remaining ROC BMG liabilities and operatorship to COE. In the first year. 2013 continue to apply pro-rated according to the new equity split. The sale is effective 1 January 2014 and is subject to regulatory approval. All fixed and variable payments that were agreed on December 6. with a resulting profit of ~US$32 million (subject to working capital adjustment. 26 Mar 2014 o InterOil Corp and Total have closed a revised sales and purchase agreement covering the Elk-Antelope gas field in Petroleum Retention Licence 15 in Papua New Guinea. has been awarded to Backreef Oil & Oil Basins for 6 years. InterOil retains 35.5m of a NZ$9m second phase work program. 20 Mar 2014 o The former EP 5/07-8 (ex-2007 Fed offer) license. Commitments are 2D seismic & 4 wells. AWE holds 100% equity in WA-497-P.

Pac LNG (22. located in the eastern margin of the Papuan Basin in Papua New Guinea. providing exposure to tight gas sand. partnership will be Bass Strait (operator) 38. the latter split between Oil Basins 17.5%*. Area A (36% of total areas of PEL 516 and PEL 115 (Senex 100%) and Area B (47% of total area of PEL 514.6114%). and partner Strategic Energy Resources selling 35.5536%).835% interest in Petroleum Retention Licence 15 (PRL 15). In addition.8350%) and other interests (1. 20 Feb 2014 o The 540-sq km Vic/P41 license. and the 1st PL granted in the Northern Territories since the passing of the Native Title Act 1993 (Australia).) Pty. Under the agreement.94% and its new subsidiary Shelf Oil 17. in early Feb 14 for a 6-year term. 3D seismic surveying will commence in 2014 followed by appraisal well drilling in 2015.775/mcf for any certified 2C raw gas contingent resource within the Elk/Antelope fields greater than 7 tcf. shale and deep coal plays. Dyas 30% and Mazarine Energy 50% of the equity. Oil Search will acquire the shares in Pac LNG for a consideration of US$900 million. It is Medco’s 1st Papuan holding. The present PRL 15 Joint Venture comprises InterOil Corp (75. 24 Feb 2014 o Senex Energy and Origin Energy have agreed to evaluate tight gas sands in key areas of South Australia’s southern Cooper-Eromanga Basin involving a work program of up to $252 million. Senex is freecarried for its share of the first $185 million of work program. Bass Strait Oil is farming out a 25. offshore Gippsland Basin (Australia).8% stake to Cooper Energy. Following the completion of the agreement and the receipt of all regulatory approvals. with Senex. applied to Oil Search’s gross share before Government back-in. the equity split will provide Warrego with 20%. The wholly-owned acreage lies adjacent to the Juha gas discovery.765%. Amadeus Basin. In exchange. Upon completion. and contingent payments of US$0. Two farm-out agreements have been signed. Under the terms of the agreement Mazarine Energy will take over operatorship from Warrego following the completion of the appraisal program. Ltd. o Medco secured PPL 470. Oil Basins 35. Senex will retain operatorship of the permits during the two-stage work program.44% to Oil Basins. production rights to the Surprise oilfield within the Santos (70%) operated EP-115. is undergoing a revamp.435%.T. 26 Feb 2014 o Warrego Energy has signed an AUD 40 million farmout agreement with E&P businesses Dyas and Mazarine Energy for the appraisal and development of the West Erregulla tight gas field in Western Australia. which hold a 22. Vic/p41 contains the Moby gasfield and the Judith gas well.8%. Magellan will receive bonuses from Central in the event that future gas sales revenues from Palm Valley exceed certain . Planet Gas 20%). 18 Feb 2014 o Magellan Petroleum Corp has entered into a definitive agreement to sell the Palm Valley and Dingo gas fields (Australia) to Central Petroleum through the sale of its wholly owned subsidiary Magellan Petroleum (N.Up to $252 million may be invested by the joint venture partners in a two-stage work program involving the drilling of at least 15 wells and substantial 2D and 3D seismic acquisition programs. with Origin having the option to become operator following completion of Stage 2. Deeps only (Senex 80% and operator. Central will pay to Magellan a total of AUD $35.o      Oil Search has entered into an agreement to acquire the Pac LNG Group Companies. Origin and Planet having the option to contribute a further $67 million on a participating interest basis. payable at completion.0 million in cash and Central stock. Facilities required for the long term production of Surprise are hoped to be operational by the week of 10 March. a 3-unit permit covering 324 sq km onshore Papuan Fold Belt (Papua New Guinea). 25 Feb 2014 o Central Petroleum reports the award of PL-6. Cooper 25.

Anadarko's net oil sales volumes from Bohai Bay averaged approx. Mitsubishi 20%.000 barrels per day. ExxonMobil had previously been engaged to acquire the interest. PetraGas Pty. 11. has been awarded a Petroleum Exploration Licence (EL3/2013) covering approximately 3. AUD $20. Other interests held by Talisman (op) 30%. but backed out of the deal last year (DEA 28 Aug 13). Of the AUD $35.900 square kilometres.0 million is payable in Central stock upon transaction completion. Ltd. 4 Feb 2014 o Petratherm advises that its wholly owned subsidiary. north of Hobart in central Tasmania to explore for conventional and unconventional oil and gas.075 billion.  levels. .0 million in consideration.. During 2013. The subsidiary to be divested owns Anadarko's non-operating interest in the Bohai Bay field. 13 Feb 2014 o Santos has agreed to acquire New Guinea Energy’s entire 50% stake in PPL 269 (Papua New Guinea) for a total consideration of USD 40 million. China  18 Feb 2014 o Anadarko Petroleum Corp has entered into a stock purchase agreement with a wholly owned subsidiary of Brightoil Petroleum (Holdings) whereby Anadarko will divest its Chinese subsidiary for $1.0 million is payable in cash and AUD $15.

Financing        15 Apr 2014 o Seven Energy International Limited has announced that it has secured US$255 million of new equity capital. has announced that the Company is proceeding with a non-brokered private placement to raise up to $6.2 billion facility agreement dated February 10 with Oando Plc. o Union Jack Oil have raised £650.000 (before expenses) through a placing of 288.000 ordinary share purchase warrants. enabling the Group to further develop gas supply opportunities in Nigeria’s domestic energy market. As a result of the Placing. In addition. Expenses for the placing have been taken in shares and total 2. 26 Feb 2014 o Enegi Oil has announced that it has raised £2. the International Finance Corporation . Temasek. the timing of which is subject to the satisfaction of certain conditions in the investment agreements.666.888.700.3 million (US$32.000 and each unit consisted of one 10% secured convertible debenture of the Company in the principal amount of $1. The subscription price per unit was $1.0 million) before expenses. and the IFC African. All securities issued pursuant to the private placement will be subject to a statutory hold period of four months and one day. OER converted to equity amounts outstanding under the $1. has committed US$75 million. the Company is now fully financed for the remaining firm well costs to drill the Welwitschia-1 well offshore Namibia.50.005 million (after expenses) through a placing of 24. with each warrant entitling the holder to purchase an additional common share of the Company for a period of four years at an exercise price of $0. maintaining its 30% interest in the licence while minimising dilution of the overall interest to the shareholders. the Singapore investment company. The investments will be in two tranches. has committed US$150 million. 21 Mar 2014 o Taipan Resources Inc.07 pence per Ordinary Share.511 shares.36 per Unit.845.5 million in pounds sterling by way of a capital raising and will start trading on London’s AIM on March 20. 3 Mar 2014 o Oando Energy Resources Inc. This is line with what the group’’s directors had in mind when they did the round of brokers and fund raisers in London in February and the funds will be used to start the New Zealand drilling programme this coming June. a member of the World Bank Group. 11 Mar 2014 o Mosman Oil & Gas has announced that it has executed the equivalent of A$2.000 through the issuance of up to 16. Each Unit will consist of one common share of the Company and one transferable share purchase warrant.667 units at a price of $0.225 pence per share. 10 Apr 2014 o Longreach Oil & Gas announced that it has closed a non-brokered private placement of units with investors for aggregate gross proceeds to the Company of $9.889 new ordinary shares in the capital of the Company with new and existing investors at 0.000.000 and 1. and Caribbean Fund has committed US$30 million. The net proceeds of the placing will be used to accelerate progress in relation to its investigation of the shale oil and gas opportunities on its existing licence interests and additional .484.000. 9 Apr 2014 o Tower Resources has announced a placing and subscription to raise £19. closed its previously announced private placement of units for proceeds of $50 million. Latin American.105 new ordinary shares of 1 pence each with new investors at an average price of 8.

o Oil India has raised $1 billion through an unsecured bond issue in the international markets. 3 Feb 2014 o Sound Oil has announced the result of its Open Offer to raise approx.000% senior unsecured notes due . the Placing Shares will represent approx.7 million). 23 Feb 2014 o CAMAC Energy has announced that it has received the first tranche of funding from the Public Investment Corporation of South Africa in the amount of $135 million in accordance with the terms of the definitive agreement.500.349.5 basis points bearing a fixed coupon of 5. 11 Feb 2014 o Egdon Resources has raised approx. The Indian company issued the RegS bonds in two tranches of $500 million.     onshore UK licences in the forthcoming 14th Onshore Licensing Round. 2014. The Open Offer was underwritten by Peel Hunt and Simon Davies.6 million (before expenses) through the issue of up to 38.8 million (gross) through the placement of 94. each with a five and 10-year tenor.000. a total of 38.500 new ordinary shares have been placed in the Placing. When issued. The Company is pleased to announce that it has received valid acceptances and excess applications from Eligible Shareholders significantly in excess of the maximum number of Open Offer Shares available for issue under the Open Offer. o Cap Energy PLC has announce that the final USD 1.999 new ordinary shares of 5p each in the Company have been issued in respect thereof. 6 Feb 2014 o President Energy is pleased to announce that a total of 87. Accordingly. with new and existing institutional investors at a price of 35 pence per Placing Share.0 million by way of a placing of 12.75 million new shares to domestic and international institutions and sophisticated/professional investors.375% per annum.349.875% per annum. These Placing Shares will represent approx.139 New Ordinary Shares will be issued in connection with the Open Offer.6% of the issued ordinary share capital of the Company prior to the Placing. raising gross proceeds of US$50 million (£30.000 Placing Shares at 25 pence per share. 7 Apr 2014 o EnQuest PLC is pleased to announce that it has priced its offering of $650 million aggregate principal amount of 7. The 10-year bonds were priced at the treasury bond rate plus 272.628.000 subscription agreement announced on 3 October 2013 has now been received and 621. $6.2 pence per New Ordinary Share.000 tranche of the USD 3. and RFC Ambrian Limited acting for the UK portion of the capital raise. £1.29 per cent of the enlarged issued share capital of the Company.5 basis points bearing a fixed coupon of 3. 17 Feb 2014 o Oilex has successfully raised approx. 28.500. the Company will also begin trading on the Johannesburg Stock Exchange on Monday. while the five-year bonds were priced at the treasury bond rate plus 222. RBC Capital Markets and Canaccord Genuity acted as joint bookrunners to the Company in respect of the Placing. and in addition to its current listing on the New York Stock Exchange. In connection with the investment by the PIC. Bond Financing   9 Apr 2014 o Gulf Keystone Petroleum has raised $250 million in debt financing to fund its planned expansion of the Shaikan oilfield onshore Iraqi Kurdistan. £3. February 24. The Placement was undertaken by Joint Lead Managers DJ Carmichael Pty Limited. Patersons Securities Limited.139 Open Offer Shares at 4. 8. which is expected during 2014.

to $650 million. . indicated at launch on 26 March. 2022 at par. The size of the offering has been increased from $500 million. 5 Feb 2014 o The Board of Ascent is pleased to announce that is has entered into an agreement with Henderson Global Investors Limited and Henderson Alternative Investment Advisor Limited for the subscription by funds managed by Henderson of convertible loan notes of up to £5 million in principal amount.