Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Computing
Conference & Expo
November 2-4, 2009 NYC
Register Today and SAVE !..

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
SYS-CON.TV
Molopo Energy Announces Message to Shareholders, December 2012 Operational Update & Corporate Changes

CALGARY, ALBERTA -- (Marketwire) -- 01/02/13 -- Molopo Energy Limited (ASX:MPO) today announces a message to shareholders along with the monthly operational and corporate update on our activities and progress achieved through December.

Message to Shareholders

Tim Granger, CEO and Managing Director

Dear fellow shareholders:

In light of recent market activity, and questions regarding Molopo's drilling plans, I wanted to take this opportunity to share my views and provide context for you. I am disappointed that Molopo's year end exit rate will not meet our initial forecast, and am frustrated with lower than anticipated initial production rates from our drilling in Fiesta. The market's reaction mirrors this sentiment as our shares have traded to a price that is around the value of our projected cash balance per share, which excludes any value for our production, land base and large resource potential. However, I firmly believe that the true value of Molopo's high quality assets is yet to be realized. Through prudent investment in our assets along with the resultant production, cash flow and reserves growth, this value will be unlocked.

As I mentioned in my recent AGM presentation, the Wolfcamp is an emerging play that is still in its infancy, with only 2-3 years of exploration and development behind it. However, it is a vast resource, and Molopo is able to offer shareholders exposure to that resource. There is no question that our assets in Barnhart and Fiesta have producible hydrocarbons, which mitigates one of the most significant risks inherent in oil and gas exploration and development - whether a company will find oil or gas.

Despite the presence of producible hydrocarbons, there were many unknowns at the time we set our 2012 calendar year forecasts because valid well data from drilling on our acreage were not yet available (referred to as 'type curves'). Our 2,100 boe/d target exit rate was based on type curves we could obtain from other, third party analogous wells within the Wolfcamp. In Fiesta, we adjusted the available type curves downward to account for shallower depth and lower pressure in that part of the reservoir. However, until we drilled in Fiesta, we could not accurately predict how those wells would produce. Ultimately, the type curves used in forecasting were not reflective of the actual well data produced from drilling on our land, including the rate the wells would decline from their initial production levels. Since we did not have compatible type curves when making our original forecasts, it was expected that wells would come on production at higher rates, and then decline more slowly than what was actually observed.

Four of the six wells drilled in the second half of 2012 came on production through the last quarter, and continued fluctuations in volumes contributed to uncertainty about where the wells would ultimately stabilize through year end. During November, Molopo anticipated that production from our last two wells in the budget, Baggett 54-1H and Barnhart 24-2H, would be on production by the end of the year, enabling the Company to meet (or come very close to) its forecast 2,100 boe/d exit rate.

However, the Barnhart 24-2H well was drilled and completed too late in 2012 to contribute production until early 2013, which immediately reduced our exit rate by up to 600 boe/d. Further, the Baggett 54-1H well reached a peak production level of 431 boe/d which was lower than expected, and with declines that well contributed approximately 240 boe/d through the last week of December. The combined impact of these two wells coupled with the lower contributions from existing wells has resulted in Molopo's revised forecast exit wellhead production rate of approximately 1,000 boe/d.

We have gained significant data and learning from our drilling through 2012 and now have valid well data and type curves from our acreage. Although we are still determining the estimated ultimate recovery (EUR) from our wells, given our access to this large oil resource, we are confident that our assets in the Wolfcamp can be developed economically with cost structure adjustments.

The key to successful economic development depends on our ability to grow production, reserves and cash flow, ultimately generating positive value for the organisation. This growth is highly dependent on costs and commodity prices. In light of the current commodity price environment, we intend on delivering a capital program for 2013 with reduced overall program costs which can generate growth in shareholder value. With cost reductions and a drilling program targeting areas offering the highest potential, we believe that positive returns can be generated for shareholders.

In summary, we greatly appreciate the support of our shareholders and look forward to continued communications with you as we progress with the 2013 budget and future drilling strategy.

Yours sincerely,

Tim Granger

CEO & Managing Director

Molopo Energy Limited

December Operational Update


--  Molopo's first Bench B well drilled in Fiesta, Baggett 54-1H has
    achieved an initial 30 day production rate (IP30) of 238 boe/d,
    consisting of 59 bbl/d of oil, 79 bbl/d of natural gas liquids and 600
    mcf/d of natural gas; 
--  Completion of the last well drilled in calendar 2012, Barnhart 24-2H,
    concluded on 16 December, and flow back of the load fluid commenced 30
    December. Initial production figures for this well are expected to be
    available in mid to late January and will be reported at that time. 

Production


--  Production in November 2012 was consistent with the prior month, and
    totaled 938 boe/d, with 88% coming from Texas (825 boe/d), and 12%
    coming from Saskatchewan (113 bbl/d). The breakdown in November by
    product was 42% light, sweet crude oil; 22% natural gas liquids; and 36%
    natural gas.  

TEXAS DRILLING RESULTS(1) - WELL BY WELL SUMMARY:


                                     ---------------------------------------
                                        Peak 24 Hour        IP30 Rate(3)    
                                           Rate(2)                          
----------------------------------------------------------------------------
               Target   Status as at    BOE    Product     BOE      Product 
                Bench  Dec. 31, 2012  (boe/d)   Split    (boe/d)     Split  
----------------------------------------------------------------------------
Barnhart                                                                    
----------------------------------------------------------------------------
Linthicum             On production;                                        
 Washington           investigating             Oil &                Oil &  
 36-2H                optimization            Liquids:             Liquids: 
                  B   opportunities     742      86%       403        71%   
                      to further              Nat. Gas:            Nat. Gas:
                      enhance                    14%                  29%   
                      production                                            
----------------------------------------------------------------------------
Linthicum             On production;                                        
 Washington           investigating             Oil &                Oil &  
 36-1H                optimization            Liquids:             Liquids: 
                  B   opportunities     792      89%       460        70%   
                      to further              Nat. Gas:            Nat. Gas:
                      enhance                    11%                  30%   
                      production                                            
----------------------------------------------------------------------------
Linthicum             On flow back;                                         
 Washington       B   1.8% of load      n/a      n/a       n/a        n/a   
 24-2H                fluid recovered                                       
----------------------------------------------------------------------------
Fiesta                                                                      
----------------------------------------------------------------------------
Baggett 16-1H         On production;                                        
                      investigating             Oil &                Oil &  
                      optimization            Liquids:             Liquids: 
                  A   opportunities     375      43%       244        60%   
                      to further              Nat. Gas:            Nat. Gas:
                      enhance                    57%                  40%   
                      production                                            
----------------------------------------------------------------------------
Baggett 40-2H         On production;                                        
                      investigating             Oil &                Oil &  
                      optimization            Liquids:             Liquids: 
                  A   opportunities     455      74%       250        76%   
                      to further              Nat. Gas:            Nat. Gas:
                      enhance                    26%                  24%   
                      production                                            
----------------------------------------------------------------------------
Baggett 54-1H         On production;                                        
                      investigating             Oil &                Oil &  
                      optimization            Liquids:             Liquids: 
                  B   opportunities     431      61%       238        58%   
                      to further              Nat. Gas:            Nat. Gas:
                      enhance                    39%                  42%   
                      production                                            
----------------------------------------------------------------------------
(1) Based on wells drilled in the second half of calendar year 2012         
(2) The peak 24 hour production rate is the highest hydrocarbon rate        
 achieved since the well came on production                                 
(3) The IP30 rate is the average rate the wells produced at after 30        
 consecutive days of production, excluding down time                        

2013 Capital Budget


--  Molopo continues to develop its 2013 capital budget and forecasts. Based
    on the drilling and technical analysis done in Barnhart and Fiesta
    during the 2012 calendar year, we have assembled valuable data regarding
    reservoir characteristics and deliverability across our acreage that
    will drive economics going forward. We are finalising our development
    strategy using well performance and type curves reflecting the actual
    production in each area. This will enable us to prioritise the
    development of our asset base in light of current commodity prices, and
    focus on growing production and reserves while prudently investing
    capital. Our 2013 capital program will feature reduced overall program
    costs that will drive improved well economics. We anticipate releasing
    details of this budget in late January / early February upon approval by
    the Board.  

Corporate Update


--  Effective 21 January 2013, Molopo will change our share registry agents
    from Link Market Services to Computershare Investor Services Pty
    Limited. Following that date, shareholders will be able to access
    details of their shareholding via the Investor Centre on Computershare's
    website, at www.computershare.com.au. Contact information for
    Computershare will be available on Molopo's website under the Investor
    Relations section and is listed at the end of this announcement.  
--  As previously announced Molopo has changed its financial year end to 31
    December and its presentational currency to US dollars. Consequently,
    the Company's next results announcement will be for a stub financial
    year, being the six month period ending 31 December 2012. The current
    financial year will be for 12 months ending 31 December 2013. 

Contact Information for Computershare Investor Services Pty Limited         
Yarra Falls                                                                 
452 Johnston Street                                                         
Abbotsford Vic 3067                                                         
                                                                            
Domestic Phone: 1300 850 505                                                
Overseas callers: +61 3 9415 4000                                           
Facsimile: +61 3 9473 2500                                                  

This press release contains certain forward-looking statements. These statements relate to future events or future performance of the Company. When used in this press release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "predict", "seek", "propose", "expect", "potential", "continue", and similar expressions, are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to certain events, and are subject to a number of risks, uncertainties and assumptions. Many factors could cause Molopo's actual results, performance, or achievements to materially differ from those described in this press release. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in other public disclosures made by the Company or this press release as intended, planned, anticipated, believed, estimated, or expected. Furthermore, statements relating to "reserves" or "resources" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions that the resources and reserves described can be produced profitably in the future. The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary declaration. These statements speak only as of the date of this press release. The Company does not intend and does not assume any obligation, to update these forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law.

Contacts:
Molopo Energy Limited
Cindy Gray
VP Capital Markets
+1.403.648.8026 / + 61 3 9618 8704 (Australia local)
investorrelations@molopo.com.au

About Marketwired .
Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

SOA World Latest Stories
ScriptRock makes GuardRail, a DevOps-ready platform for configuration monitoring. Realizing we were spending way too much time digging up, cataloguing, and tracking machine configurations, we began writing our own scripts and tools to handle what is normally an enormous chore. Then...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-b...
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows Agile...
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the gl...
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Execut...
“We are a managed services company. We have taken the key aspects of the cloud and the purposed data center and merged the two together and launched the Purposed Cloud about 18–24 months ago," explained Chetan Patwardhan, CEO of Stratogent, in this SYS-CON.tv interview at 15th Cloud Ex...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021


SYS-CON Featured Whitepapers
ADS BY GOOGLE