StockMarketWire.com - Soco International (SIA) said first oil and gas from the H5 Wellhead Platform (H5-WHP) of the Te Giac Trang (TGT) field occurred on Aug. 10 following perforation of the first of the H5 development wells.

The start of production has been achieved more one month ahead of schedule and the H5 development project has been completed with zero lost time accidents.

The perforation campaign will continue over the next two weeks targeting the optimal balance between maximising new production from the H5-WHP, natural production decline rates and water-cut from the existing wells with total liquids handling capacity on the FPSO currently available to the TGT partners.

Further information on performance will be provided in due course.

The H5-WHP is located in the south of the TGT field in Block 16-1 in the Cuu Long Basin, off the southern coast of Vietnam, approximately 100 kilometres from Vung Tau, 20 kilometres northwest of the Bach Ho field and 35 kilometres west of the Rang Dong field.

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IGas Energy (IGAS) has welcomed the Government's announcement today that gives clarity on the timetable for determining planning decisions for onshore oil and gas exploration. IGas says it has more than 30 years' experience of safely and successfully extracting oil and gas onshore in Britain and will continue to ensure that any risks or environmental impacts are minimised.

It says: "We also recognise that long term sustainable community engagement is critical to ensuring we maintain our social licence to operate and we are committed to working closely with our neighbours in the areas in which we operate.

"Natural gas provides over a third of Britain's overall energy needs including heating over 80% of our homes. Gas is used as a raw material in the manufacture of everyday household products such as plastics, detergents and textiles. In Britain, over 800,000 people are employed in energy intensive industries and their supply chains. "Domestically produced shale gas has the potential to provide a real alternative to imports, creating and protecting many thousands of jobs, providing taxes and business rates to local authorities and additional benefits to local communities."

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Petro Matad (MATD) confirms the award of a contract to Khet Co for the acquisition of circa 2000 kilometres of 2D seismic in Blocks IV and V, central Mongolia. The programme will begin mid-September after mobilisation of equipment and personnel to site has been completed.

The 2D seismic program has been designed to achieve three main objectives.

First, to infill the existing reconnaissance level and basin definition seismic grids to improve the correlation and understanding of the structural and stratigraphic architecture of the petroleum basin systems.

Second, to tighten line spacing across previously identified lead and prospect trends such that drillable prospects may be adequately mapped.

Third, to expand reconnaissance level and basin definition coverage into un-imaged parts of the basin to identify new lead areas, play concepts and improve resource estimations across a greater basin area.

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Rosneft (ROSN) increased technical drilling volumes at its production assets by 27% in 7 months of 2015. Based on the January through July 2015 results the overall drilling progress accounted to 4.585 mln m, whilst during the same period of 2014 the figure was 3.605 mln m.

Efficient technical drilling increase is a key priority for Rosneft's upstream business dimension, which allows cost-efficient maintaining production at brownfields, and increasing production at greenfields.

Key factors, that boosted technical drilling figures are: increased drilling volumes at RN-Yuganskneftegas assets (increase of drilling progress outpaced the Company's average and accounted to 39.9% - 1.719 mln m in 7 months of 2015 versus 1.229 mln m for the same period last year), and increased pace of drilling of high-technology wells.

A critical constituent of the implementation of the campaign aimed at raising production efficiency was improving HSE at production drilling activities (consequently to a comprehensive set of measures a significant reduction in the breakdown rate compared to 2014 was achieved).

In the first 6 months of 2015 Rosneft brought into production more than 800 new wells. The drilling profile is becoming more complex: the number of horizontal wells in the first 6 months of 2015 exceeded 30% of the overall volume of technical drilling (more than 260 wells).

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At 2:25pm:

[LON:AUR] Aurum Mining PLC share price was +0.01p at 1.13p

[LON:BOR] Borders Southern Petroleum PLC share price was +0.02p at 3.17p

[LON:CHAR] Chariot Oil Gas Ltd share price was -0.18p at 7.95p

[LON:DGO] Dragon Oil PLC share price was +0.25p at 799.25p

[LON:ENQ] EnQuest Plc share price was +0.63p at 33.63p

[LON:FOGL] Falkland Oil Gas Ltd share price was +0.38p at 23.88p

[LON:GKP] Gulf Keystone Petroleum share price was +1.13p at 28.63p

[LON:GPX] Gulfsands Petroleum PLC share price was -0.38p at 4.75p

[LON:IGAS] Igas Energy PLC share price was +2.88p at 29.88p

[LON:INDI] Indus Gas Ltd share price was +0.13p at 112.63p

[LON:MATD] Petro Matad Ltd share price was -0.13p at 4p

[LON:PET] Petrel Resources PLC share price was 0p at 2.25p

[LON:RKH] Rockhopper Exploration PLC share price was -1.5p at 55.75p

[LON:RPT] Regal Petroleum PLC share price was -0.25p at 4.53p

[LON:SIA] SOCO International PLC share price was +2.75p at 142.75p

[LON:XEL] Xcite Energy Ltd share price was +0.13p at 31.63p



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