1. Granby Oil and Gas claims that Tristan North West field in the UK North Sea will produce first gas in early 2008 after the first phase of development operations have been completed. The Tristan NW development is in Block 49/29b.

2. Lundin Petroleum’s reported that its Luno discovery offshore Norway could contain 65 to 190 million boe, and will be a significant development on the Norwegian Continental Shelf. The 16/1-8 well has not been tested, but extensive data acquisition and sampling show a significant amount of resource potential. The licensees have temporarily abandoned the well with plans for future testing as part of an appraisal program.

3. Noreco affiliate, Altimex Oil has made an agreement with Chevron to acquire stakes in two licenses in the Danish sector of the North Sea. The company will take 12% stakes in Licenses 9/06 (Gita) and 9/95 (Maja) on the Danish Continental Shelf. Both licenses are located west of the Amalie discovery.

4. Despite its decision to sell off producing assets in the Dutch sector of the North Sea, NAM, a Shell/ExxonMobil joint venture, is pushing ahead with the further development of the L9 field. The company plans to sell several producing fields including L2-FA, L2-FB, L5-FA, L12-FC and L15-FA and the combined oil and gas producing F3-FB field. The fields are located to the northwest of Den Helder and interconnected by the NOGAT pipeline.

5. Granby Oil and Gas plc has reached an agreement with Gas Plus International B.V. to participate in two blocks onshore Poland. Both operators will share a 50% interest in the tracts. Block 106 and Block 107 are located in the northern Rotliegendes sub-basin, which is known for its prolific gas reserves. The basin is an extension of the southern North Sea gas basin. The two blocks combined have an area of 454,664 acres (1,840 sq km).

6.  Four Italian exploration permits were awarded to Mediterranean Oil & Gas wholly owned subsidiary, Intergas Piu Srl (IGP). The Villa Mazzarosa comprises two gas discoveries namely Savini and Fonte Dell Olmo fields. The Serra dei Gatti is located onshore southern Italy in the area where the company owns and operates the Torrente Celone and Masseria Petrilli production concessions. The Villa Carbone and Colle dei Nidi are located onshore central Italy near the company’s Castel Di Lama production concession and the Acquaviva Picena and Guardia Vomano exploration permits. The new permits cover a 111-sq mile (287-sq km) area.

7. Regal Petroleum reported a discovery with its first well in its Barlard concession in Romania. The RBN-4 well logged gas in three zones that totaled a 35-ft (11-m) net gas pay in the Sarmation formation. Other gas-bearing zones totaling 46-ft (14-m) of net gas pay were also detected. These formations produce in a nearby Romanian gas field, which contains 300 Bcf of reserves. The Barlard concession covers 2,426 sq miles (6,285 sq km) just east of existing oil and gas fields in the Carpathian Mountains close to the Ukrainian border in northern Romania.

8. The Ukraine has signed a production sharing agreement with Houston, Texas-based Vanco that could spur a US $20 billion development project in the Black Sea. According to the company, the PSA gives it the opportunity to explore and develop reserves in the Prykerchenska Block located to the southeast of the Crimean Peninsula. The block covers nearly 5,019 sq miles (13,000 sq km), which is about one third of Ukraine’s deepwater area with depths ranging from 1,641 to 6,562 ft (500 to 2,000 m). This marks the Ukraine’s first deepwater exploration program.