Jun 14, 2013 - Nido Petroleum, operator of Service Contract 58, secured a 6-month extension to its Election to Drill Date from its joint venture partner PNOC Exploration. The extension gives Nido until January 11, 2014 to make the decision to drill one of the prospects identified in the area. Located adjacent to the Malampaya gas field, SC58 covers almost 3,335,922 acres. Water depth exceeds 3,280 feet over most of the block. Promising prospects located in the license include Balyena, Butanding and Dorado.

Jun 13, 2013 - Otto Energy received a 6-month extension from the Philippines Department of Energy for Exploration Sub-Phase 3 of Service Contract (SC) 69. Sub-Phase 3, which began February 7, 2011, now has an effective expiration date of November 7, 2013. Three potential drilling targets, Lampos, Lampos South and Managau East, were identified with 3D seismic that was acquired in 2011. Otto will use the extension to complete outstanding technical work, begin well planning and start a farm-down process.

Jun 6, 2013 - Idemitsu Oil & Gas confirmed the discovery of gas and condensate in block 05-1b and 05-1c off the coast of Vietnam. The Dai Nguyet 2X well, and subsequent sidetracks, were drilled by the Ocean Patriot (mid-water semisub) in 387 feet of water. Drilling commenced in August 2012 and TD was reached in January 2013. Drill stem tests were conducted from February through April. Data gathered while drilling and testing will be used to perform a detailed reserve evaluation and to provide more insight into the potential of other prospects within the blocks.

May 28, 2013 - Salamander Energy announced a gas discovery at the Bedug-1 exploration well in the Bontang PSC off Indonesia. Over 16 feet of gas bearing sandstone was confirmed in the Lower Pliocene BT40 primary target. Additionally, strong oil shows were seen in the BT45 sands which flowed oil in Salamander's South Kecapi well. Bedug-1 was drilled by the Ocean General (mid-water semisub) to a depth of 5,554 feet before encountering an extremely over-pressured gas-bearing reservoir which caused drilling to be suspended. It was determined that drilling ahead to deeper targets could not be safely accomplished without specialized equipment. Completion of the well marks the end of Salamander's North Kutei basin drilling campaign.

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 percent 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 percent to 110 MMboe. AWE is in the process of finalizing preparations for a farm-out agreement of up to 50 percent 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.