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Exploration - 24 February 2012

Statoil makes high impact discovery offshore Tanzania

Statoil has made a huge gas discovery in the Block 2 license offshore Tanzania in the Zafarani exploration well, logging results show that reserves may be as high as 5 trillion cubic feet.


Austin exploration raising funds for new shale exploration programme

Austin Exploration Ltd has resolved to raise up to approximately $20 million to fund a new drilling campaign in the Eagleford and Niobarra shale areas. The company plans to raise the funds through a share placement and a shareholder share purchase plan.


API comment on energy security

The American Petroleum Institute has called the President’s approach to energy security a Jekyll and Hyde approach and says it hurts consumers.