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MENAFN - ProactiveInvestors - Australia - 13/11/2012

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Pancontinental Oil & Gas will discuss its African oil and gas exploration, particularly its efforts offshore Kenya, with investors at "Stars in 2012" in Sydney. Also presenting is AusTex Oil, Titan Energy Services, Eastern Iron and Ezeatm.
(MENAFN - ProactiveInvestors - Australia) Pancontinental Oil & Gas (ASX: PCL) will discuss its oil and gas exploration offshore Kenya and Namibia at the "Stars in 2012 Series" in Sydney on Wednesday 28th November 2012.


In Kenya, the company had participated in the Mbawa-1 gas discovery well in L8 that proved the existence of a working hydrocarbon system and is currently undergoing detailed analysis.

Volumetric parameters and commercial aspects of the discovery have yet to be ascertained and the analysis is expected to continue into 2013.

The joint venture, led Apache Corporation (NYSE:APA), is now considering the forward work program in light of the Mbawa results.

With about 39 million in cash, Pancontinental is well funded for up to 4 offshore Kenya wells directly and another 4 wells indirectly over the coming 12-18 months.

In L10A and L10B, the joint venture will carry out a 2,180 square kilometre 3 seismic survey over the western sector of the licence areas where operator BG has mapped a number of very large leads for further work and possible drilling.

Pancontinental is also carrying out detailed mapping to define the full extent of the structural and stratigraphic closures and potential oil-bearing traps at its Namibian exploration acreage.


The One2One Forum brings you five exciting companies presenting.

The event is FREE, but registration IS A MUST.

DETAILS: The event will be held on Wednesday 28th November at the Radisson Blu Hotel, corner of Pitt and O'Connell Street, Sydney from 5.30pm.

The event will be followed by a wine and canap reception where you can interact with the presenting MDs & CEOs.

LUCKY DOOR PRIZE: All attendees instantly go into the draw to win 1 of 3 lucky door prizes (including early prize) drawn on the night: a 100 Apple voucher (early bird prize), a 100 voucher for Radisson Blu Hotel, or a 100 Ticketek voucher.


Titan Energy Services (ASX: TTN) provides a range of energy services including drilling, camp hire and remote camp management, to the coal seam gas industry. Long term contracts have being reached with three of the four major coal seam gas developers for its drilling rigs.

Ezeatm (ASX: EZA) is the largest ASX-listed ATM deployer and is continuing along a rapid growth path, following preferred supplier agreements with Metcash and the DIB Group of companies.

Eastern Iron (ASX: EFE) is targeting iron ore on the infrastructure-rich, eastern seaboard, which is home to the bulk of Australia's industrial capacity, population, workforce and markets.

AusTex Oil (ASX:AOK) produced 500 bpod oil Net Production in the last week of September, with gross sales for the qtr US1.4m, up 33% on June qtr. The 2012 Vertical Well development program is delivering two new wells per month. AusTex has 2P Reserves of 5.9m BOE and a 2P 10% NPV est. of 288m.

Pancontinental Oil & Gas (ASX: PCL) holds petroleum exploration acreage in Kenya, a growing hotspot for the oil and gas industry as well as assets in Namibia, and Western Australia.


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