- Premier Oil's [LON:PMO] shares fell despite production reaching record levels towards the end of 2013.

Chief executive Simon Lockett said 2013 was a challenging year for Premier and the wider industry as a whole.

But he added: "Four new projects will achieve first oil and gas in 2014 and that our mid- to longer-term projects, including Bream, Catcher and Sea Lion, have taken significant steps forward. We are also pleased our exploration record improved in 2013 as we refocus on selective new basins with material upside."

During December Premier's average production rate was 69,000 barrels of oil equivalent per day with a peak weekly average rate above 75,000 boepd. Estimated average production for the full year 2013 was 58,200 boepd (2012: 57,700 boepd).

Premier said that while its fields are capable of producing in excess of 75,000 boepd, output in 2014, after taking into account production efficiency and planned maintenance periods, is expected to be in the region of 58-63,000 boepd.

Premier also announced that Neil Hawkings has been appointed with immediate effect to the role of director, Falkland Islands, in order to oversee the execution of the Sea Lion development project.

Garry Stoker has been promoted to the executive committee in the role of group development and operations manager to take over Hawkings's previous functional responsibilities.

Ithaca Energy's [LON:IAE] board has approved the grant of 7,165,000 share options to directors, officers and employees.

The options were granted at C$2.71 apiece - the closing price on the Toronto Stock Exchange on 15 January.

The options will be granted as from today (16 January) and may be exercised for a period of four years. One third of the options will vest at the end of each of the first, second and third years.

A total of 3,150,000 share options were granted to directors and officers.

Dragon Oil [LON:DGO] has signed a farm-in agreement with Nido Petroleum Philippines for service contract 63 (SC 63) NW Palawan Basin, offshore the Philippines.

Under the terms of the agreement, the farm-in will be completed as a two-stage process, with Dragon Oil initially acquiring a 40% participating interest in SC 63 from Nido's current 50% participating interest in the Service Contract, and is subject to normal Philippine government approvals. The Philippine National Oil Company - Exploration Corporation (PNOC-EC) will continue to have a 50% participating interest.

The second stage is subject to certain conditions being met and additional Philippine government approvals being received. In this stage, Nido will seek to secure an additional net 10% participating interest in SC 63 from PNOC-EC on the same terms agreed between Nido and Dragon Oil.

Nido will then have a 20% working interest in SC 63. Dragon Oil has the option to acquire an additional 10% participating interest from PNOC-EC on the same terms and conditions agreed between Nido and Dragon Oil.

Under the terms of the farm-in agreement, Dragon Oil would reimburse Nido US$2.18m in consideration of past seismic costs and pay 56% of the costs of drilling the Baragatan-1 well to earn a 40% participating interest level.

The carry on the well cost is capped at US$25m (100% basis); well costs over and above this level will be shared by the parties in proportion to their participating interest.

Should the various conditions and approvals required for the second phase be satisfied, and Dragon Oil exercises its option, Dragon Oil would pay a pro-rata higher amount to earn a further 10% interest.

Latin America-focused GeoPark's [LON:GPK] crude oil and gas production increased by 20% to 13,517 barrels of oil equivalent per day in the year to the end of December.

Output reached the targeted levels announced for the year 2013, and increased by 51% to 17,097 boepd on a pro-forma basis, including production from the pending Manati acquisition.

Chief executive James F. Park said: "Our team's ability to perform was demonstrated again by our production increase of 20% for the year 2013, meeting our 2013 target, and representing our eighth consecutive year of production growth. In addition, our pro-forma production, including our pending Manati acquisition, exceeded 20,000 boepd during December 2013. As we move forward in 2014, we will continue to build on our long term growth track-record and have embarked on an ambitious drilling and work program across our expanding asset portfolio."

PetroNeft Resources [LON:PTR], the owner and operator of Licences 61 and 67 at Tomsk Oblast in Russian Federation, has reported that delineation drilling results at Lineynoye No. 9 indicate the J1-1 interval is oil saturated.

The results are in line with expectations and average production remains at about 2,300 barrels per day (bopd), with additional workovers planned.

The company says that farmout negotiations are well advanced with an international oil company.

Dennis Francis, chief executive officer of PetroNeft Resources, commented: "The results on the L-9 well are consistent with our expectations and support our overall development priorities for the licence area.

"We are pleased to have completed the L-9 obligation well in a cost effective manner and to be in a position to move the drilling rig to Tungolskoye this winter. This allows us to maintain the development schedule, which is critical to our farm-out and refinancing negotiations.

"We have made significant progress on the planned farm-out of Licence 61 over the last month and we look forward to updating shareholders in more detail when appropriate. We appreciate shareholders continued patience and support while these negotiations are being completed."

At 4:21pm:

[LON:AUR] Aurum Mining PLC share price was 0p at 2.1p

[LON:BOR] Borders & Southern Petroleum PLC share price was 0p at 11.75p

[LON:CHAR] Chariot Oil & Gas Ltd share price was -0.25p at 18.25p

[LON:DGO] Dragon Oil PLC share price was -3p at 586p

[LON:ENQ] EnQuest Plc share price was +1.35p at 136.45p

[LON:FOGL] Falkland Oil & Gas Ltd share price was +0.13p at 27.38p

[LON:GKP] Gulf Keystone Petroleum share price was -2.25p at 182p

[LON:GPK] GeoPark Holdings Ltd share price was +7.5p at 620p

[LON:GPX] Gulfsands Petroleum PLC share price was -0.5p at 42.88p

[LON:IAE] Ithaca Energy Inc share price was -5.25p at 145.75p

[LON:INDI] Indus Gas Ltd share price was +0.25p at 870.25p

[LON:PET] Petrel Resources PLC share price was -0.25p at 13.25p

[LON:PMO] Premier Oil PLC share price was -19.05p at 288.95p

[LON:PTR] Petroneft Resources PLC share price was +0.1p at 4.6p

[LON:RKH] Rockhopper Exploration PLC share price was -3.75p at 152.25p

[LON:RPT] Regal Petroleum PLC share price was +0.13p at 14p

[LON:XEL] Xcite Energy Ltd share price was -1.5p at 102.75p

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