Caza Oil & Gas (LSE: CAZA) remains bullish about the prospects for its latest well in New Mexico.
Today's round-up includes news from Caza Oil & Gas (LSE: CAZA) and Providence Resources (LSE: PRV), and the latest Oilbarrel conference for private investors.
Copperline on track
Caza Oil & Gas gave a detailed update on the progress on its latest well this morning, which is being drilled at its Copperline Prospect in New Mexico. It's reached its target vertical depth and now drilling will commence on a horizontal section of around 4,600 feet. The well will then be fracture-stimulated before another update is provided.
Caza seemed pleased with the progress so far, noting good mud log shows for oil and natural gas. It has also farmed out an additional 9.375% interest in this well. Caza is also hoping to spud a well on its Forehand Ranch Bone Spring by 1 October. Its shares rose 4% to 6.88p.
Providence Resources secure rig for Dunquin
AIM and Dublin-quoted Providence Resources has received notifaction from ExxonMobil (NYSE: XOM.US) that it can utilise the "Eirik Raude" semi-submersible drilling rig to drill an exploration well at Dunquin, with an estimated programme duration of up to six months, starting in the first quarter of 2013.
Providence has 16% interest in this licence, while Exxon has 27.5%. Other partners include Eni, Repsol and Sosina.
Rolling out the barrel
Many of the Fools on our discussion boards are regulars at the private investor conferences held by Oilbarrel. Today it's hosting its 54th conference and the companies presenting include Petroceltic International (LSE: PCI), currently attempting to merge with Melrose Resources (LSE: MRS), and Roxi Petroleum (LSE: ROXI).
Solo Oil (LSE: SOLO) and the Toronto-listed Simba Energy are also expected to present.
A little bit of everything
Finally, we turn to Maple Energy (LSE: MPLE), which is a somewhat unusual energy play, covering oil production, sugar cane and an ethanol production plant in Peru. Its latest six-month results showed a 25% increase in revenues to $51m, but an increased loss of $29m.
Nigel Christie, chairman of Maple, commented:
"Apart from a slower than anticipated ramp up of ethanol production, we are pleased with the achievements in the first half of 2012. This has been one of the most important years in Maple's history with the commencement of the harvesting of sugar cane from Maple's plantation and the production of ethanol, followed by first sales of fuel-grade ethanol to the Peruvian market and then the first export sales of ethanol to the international market. These events marked key milestones for the Company in its initiative to become one of the lowest-cost producers of fuel-grade ethanol in the world."
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> Stuart doesn't own any of the shares mentioned in this article.
