GLG News by Oil and Gas Basin Evaluators

Stuart GoldsteinOil & Gas Exploration & Production E&P ConsultantStuart Goldstein

Heritage Oil Announces Discovery of a Major Gas Field in Kurdistan, Iraq

January 30, 2011

Analysis of:Heritage finds Iraq giant | www.upstreamonline.com

Following completion and testing of the Miran West-2 well, a major gas discovery in the Kurdistan Region of Iraq, Heritage Oil estimates the Miran West structure has P90-P50 gross in-place gas volumes of between 6.8-9.1 trillion cubic feet (TCF) with 42-71 MMbbls of condensate and 53-75 MMbbls of oil.The well results have confirmed three additional pay zones within Lower Cretaceous and Jurassic formations, in addition to the pay zone identified in the Upper Cretaceous in the Miran West-1 well.

Stuart GoldsteinOil & Gas Exploration & Production E&P ConsultantStuart Goldstein

GeoGlobal Resources (GGR) Pursuing 4 Offshore Israel Oil & Gas Licenses

June 5, 2010

Analysis of:GeoGlobal Appointed Operator for Myra & Sara Offshore Israel Oil & Gas Licenses | www.prnewswire.com

GeoGlobal Resources has been appointed operator for 2 Offshore Israel Oil & Gas Licenses 347 "Myra" and 348 "Sara" in the Eastern Mediterranean Sea. The company has applied separately for the "Samuel" and "Michal" (within "Benjamin" permit area) Licenses within the territorial waters of the State of Israel. These new permit areas are located in the highly prospective area of the Levantine Basin near the recent 6.3 TCF Tamar 1, Tamar 2, and the Dalit Natural Gas Discoveries by Noble Energy Inc.

Stuart GoldsteinOil & Gas Exploration & Production E&P ConsultantStuart Goldstein

2009 is Transition Year for Oil & Gas Exploration & Production

June 9, 2009

Analysis of:Period of Sustained Cost Escalation for Upstream O&G Facilities Ends | www.rigzone.com

Oil & Gas Companies are Acquiring Properties & Companies opportunistically taking advantage of today's Low Commodity Prices which are expected to continue through 2009 into first half of 2010.   Upstream E&P Companies that were highly financially leveraged during the High Commodity Price Period have been most severely impacted by the precipitous decline of commodity prices and today's more capital constrained financial markets.  2009 is a Transition Year for Oil & Gas E&P as well funded Integrated Major Oil companies defer traditional organic Drilling for Reserves, as they wait for Service Company and Oilfield Suppliers prices to reconcile with anticipated $70-$90 per barrel oil prices, as they decline from recent highs associated with $130-$150 oil commodity prices.          

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