Bering Exploration Wraps Up Equipment Installation, Testing at N. Edna

Bering Exploration Inc. announced Thursday that it has completed the installation and testing of the production equipment at the LeJeune No. 1 well, in the N. Edna prospect. This will allow the Company to tie into the pipeline system of the first purchaser of our production. The well is producing at 400 million cubic feet of natural gas per day. Bering owns a 78 percent net revenue interest in the production. This 384 acre prospect is located in Jefferson Parish, Louisiana and has potential gross reserves of the equivalent of 1 million barrels which, based upon today's prices, equates to a gross value of more than $85 million dollars.

"This installation of the production equipment, combined with the pipeline installation by our first purchaser, provides Bering with a consistent source of revenues," stated Steven Plumb, VP of Finance of Bering, "and will enable us to begin seeking capital for additional drilling efforts."

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InterMoor Wraps Up Apache IRIS Installation, Recovery in Gulf of Mexico

InterMoor, an Acteon company, has completed an installation and recovery project for Apache Deepwater LLC (Apache) in Mississippi Canyon Block 148, Well 5 in the Gulf of Mexico. The work scope included the overboard, wet transfer, deployment and recovery of a 30-ton interchangeable riserless intervention system (IRIS) owned by Blue Ocean Technologies. InterMoor undertook the work in water approximately 168 meters deep from Cal Dive's Uncle John semisubmersible vessel.

InterMoor delivered the project using its compensated anchor handler subsea installation system (CASIM) which reduces heave motions relative to vessel motions. CASIM units are pre-charged at the surface to deliver the needed heave compensation for the load at depth. InterMoor's proprietary CASIM method requires less deck space and demands fewer deck operations than the traditional buoy-based heave-compensated landing system. The company also provided the associated rigging equipment and a technician to help facilitate the subsea compensation.

"Apache selected InterMoor for this project on the basis of our service record, the fact that we had the necessary equipment available and because of our experience in subsea operations of this kind," said InterMoor project manager Jacob Heikes. "Although we have used CASIM to deploy and recover many types of subsea equipment, this is the first time that we have used CASIM for IRIS deployment and recovery, and the project's success shows that this proven installation method is suitable for a wide range of subsea equipment."

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Xtra Energy Wraps Up Core Hole Drilling Program in Saskatchewan

Xtra Energy Corp. successfully completed the drilling of its previously announced three core hole oil shale exploration and drilling program on its unconventional oil shale property located in Pasquia Hills, Saskatchewan, Canada.

The three core holes were drilled across the Xtra Energy's oil shale permit which encompasses a total of 86,533 acres targeting an identified "sweet spot" to examine, optimize information and further delineate the oil shale deposit and to determine the primary mine site for the establishment of a Shale-to-Liquids Production Plant Facility. Detailed geological logging of the three cores holes were conducted and Xtra Energy has been informed by its on-site geologist that oil shale cores have been extracted and recovered from the White Speckled Shale of the late Cretaceous period, the target reservoir from all three of the core holes as result of the oil shale core hole drilling program.

The collected oil shale core samples were shipped and have been received by Core Labs of Calgary where the cores will be cut horizontally and an initial inspection and analysis will be conducted.

The results of the core hole drilling, geological logging and the initial inspection and analysis which will involve visually confirming the amount of meters of core recovered and making a preliminary analysis of hydrocarbon indicators is expected to be completed in the next two weeks.

Xtra Energy's Pasquia Hills oil shale property has undergone two previous successful exploration and development core hole drilling and analysis programs, involving the previous drilling of a total of 13 core holes on the company's oil shale permit. A total of 150 meters of oil shale core samples have been analyzed at a total project cost of over $1.5 million dollars. In addition, water well log data, plus the results of the drilling of an additional thirteen Sun Oil (now "Suncor Energy") core holes located within the mapped area, as well as published Saskatchewan government information have extensively delineated the Company's oil shale resource deposit.

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JKX Wraps Up Seismic Gig at Ukraine License

JKX Oil & Gas plc announced that it has completed the acquisition of its 15-square mile (40-square kilometer) 3D seismic program on its Zaplavskoye exploration license in Ukraine. The additional data set will facilitate the identification of additional targets in the Visean sandstones which form the main reservoirs in this area of the license. The appraisal program follows the successful well Z-4 discovery which was drilled in 2012.

Data processing is being performed by Tricom Geophysical in Denver and is scheduled for completion by the second quarter of 2013 when interpretation will be undertaken. Data will be merged with the recently reprocessed main Novo-Nikolaevskoye field 3D seismic surveys where imaging resolution has been improved appreciably. This has advanced the understanding of both the Tournasian Carbonate and Devonian Sandstone reservoir development in the area where it is now believed the carbonate play extends further off-structure than previously modeled.

Results of the seismic interpretation will also be used in the development planning phase of water flood projects currently being assessed in the Molchanovskoye North and Ignatovskoye fields. These projects have the potential to improve oil recovery factors significantly in those areas. Studies are currently underway to firm up all these plays into targets for the 2013-2014 drilling program.

JKX Chief Executive, Dr Paul Davies, commented: "I am pleased to see that improving seismic acquisition and processing techniques allow our teams to refine their understanding of this complex area and to appraise the development potential of the large Zaplavskoye license."

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