Gas production in Ukraine in March 2009,mln. m3:
March 2009 | March 2009 against March 2008,% | January- March 2009 | January- March 2009 against January- March 2008,% | |
Total | 1 916.3 | 105.1 | 5 587.6 | 105.0 |
Naftogaz of Ukraine,including: | 1 749.6 | 104.2 | 5 101.2 | 104.1 |
- Ukrgazdobycha | 1 387.0 | 106.1 | 4 022.6 | 105.3 |
- Ukrnafta | 262.5 | 96.9 | 784.5 | 98.9 |
- Chernomorneftegaz | 100.1 | 99.2 | 294.1 | 101.2 |
Other companies: | 166.7 | 115.0 | 486.4 | 116.3 |
- Neftegazdobycha | 71.0 | 231.7 | 202.6 | 226.8 |
- JV Poltava Oil &Gas Company | 34.5 | 94.7 | 103.9 | 98.7 |
- Natural Resources Ltd. | 7.6 | 56.3 | 22.0 | 55.7 |
- KubGas Ltd. | 6.1 | 80.9 | 17.9 | 76.8 |
- Regal Petroleum Ukraine | 5.0 | 145.2 | 14.3 | 129.3 |
- Plast | 3.6 | 88.6 | 10.5 | 91.8 |
- Eastern Geological Union | 2.4 | 68.3 | 7.6 | 70.3 |
- Marinskoye | 2.2 | 82.5 | 6.3 | 82.3 |
- Promenergoproduct | 1.5 | 212.1 | 4.8 | 678.1 |
- JV Delta | 1.1 | 79.0 | 3.2 | 77.2 |
- Esko-Pivnich | 0.9 | 23.7 | 2.3 | 42.4 |
- JV Borislav Oil Company | 0.9 | 99.9 | 2.6 | 95.5 |
- Tisagaz | 0.6 | 62.1 | 1.9 | 65.6 |
- JV Kashtan Petroleum | 0.2 | 94.9 | 0.7 | 89.6 |
- JV UkrCarpatOil | 0.2 | 74.1 | 0.5 | 67.5 |
- Krymtopenergoservis | 0.005 | 125.0 | 0.013 | 100.0 |
- Oberon-Ugol | 0.0 | 0.0 | 0.0 | 0.0 |
- Nadra Ukrayiny | 28.9 | 82.6 | 85.4 | 83.3 |
Oil &condensate production in Ukraine in March 2009,thous. tonnes:
March 2009 | March 2009 against March 2008,% | January- March 2009 | January- March 2009 against January- March 2008,% | |
Total | 347.5 | 94.1 | 1 008.5 | 92.6 |
Naftogaz of Ukraine,including: | 323.0 | 96.1 | 935.4 | 94.6 |
- Ukrnafta | 252.2 | 96.6 | 727.9 | 94.6 |
- Ukrgazdobycha | 63.8 | 93.0 | 186.8 | 94.2 |
- Chernomorneftegaz | 7.0 | 111.1 | 20.7 | 100.5 |
Other companies: | 24.5 | 73.4 | 73.1 | 73.0 |
- JV Poltava Oil &Gas Company | 11.2 | 64.6 | 34.0 | 64.2 |
- JV Kashtan Petroleum | 2.9 | 94.7 | 8.2 | 89.6 |
- Neftegazdobycha | 2.7 | 238.5 | 7.8 | 235.7 |
- JV Borislav Oil Company | 1.1 | 93.1 | 2.9 | 92.1 |
- Regal Petroleum Ukraine | 1.0 | 112.5 | 3.2 | 115.1 |
- Natural Resources Ltd. | 0.7 | 0.0 | 2.1 | 0.0 |
- Krymtopenergoservis | 0.3 | 0.0 | 0.8 | 0.0 |
- JV UkrCarpatOil | 0.3 | 68.4 | 0.8 | 64.9 |
- Eastern Geological Union | 0.2 | 44.6 | 0.6 | 44.8 |
- Plast | 0.2 | 77.8 | 0.5 | 82.1 |
- KubGas Ltd. | 0.1 | 55.8 | 0.4 | 56.5 |
- Promenergoproduct | 0.08 | 181.4 | 0.3 | 588.4 |
- Esko-Pivnich | 0.05 | 50.5 | 0.2 | 67.2 |
- Marinskoye | 0.02 | 76.9 | 0.06 | 79.7 |
- JV Delta | 0.02 | 55.6 | 0.04 | 54.3 |
- Rozhnyatyvnafta | 0.01 | 43.3 | 0.04 | 44.4 |
- Capital Oil Ukraine | 0.01 | 76.9 | 0.02 | 54.1 |
- Nadra Ukrayiny | 3.7 | 53.3 | 11.2 | 54.3 |
Source:NefteGazNedelya (Oil & Gas Weekly),issue 14,April 4-10
PUBLICLY LISTED WITH MAIN INTERESTS IN UKRAINE
1.CADOGAN PETROLEUM
http://www.cadoganpetroleum.com/
Company Overview:
Listed on LSE (London)
Bloomberg Ticker:CAD LN
Free Float:~63.5%
Number of shares:210.0MM
Production:c. 567 boepd in 2008
Assets:Ukraine
Financial position:Raised GBP 125MM in 2008.
Stock ownership (as of March 2008):
Altima Partners8.49%
HBK Master Fund7.15%
QVT Financial6.20%
EBRD5.03%
Other73.01%
Cadogan is an independent oil and gas exploration,development and production company with onshore gas and condensate assets located in two major basins in Ukraine – the Dnieper-Donets and Carpathian. Cadogan is listed on the London Stock Exchange following an IPO in June 2008.
Cadogan holds 11 licences covering 14 fields in Ukraine. Four of these licences form the company’s main assets – Pirkovske (PIR),Pokrovske (POK) and Zagoryanska (ZAG) in the Eastern Ukraine,and Bitlyanska (BIT) in the West. According to the company,its working interest in main licences is at least 90%. Pirkovske license is currently under dispute,pending decision of the Higher Court.
1. http://www.cadoganpetroleum.com/cadogan/investor/reports/2009/ar_2008/ar_2008.pdf
Name:Annual Financial Report for year ended 31 December 2008
2. http://www.cadoganpetroleum.com/cadogan/investor/reports/2008/analystpres08/analystpres08.pdf
Name:Presentation to investors,2008
3. http://www.investis.com/cadogan/investor/reports/FINAL_UK_Prospectus.pdf
Name:Prospectus (Admission Document),2008
Research
1. http://www.fox-davies.com/media/39144/cadogan27february2009.pdf
Name:Cadogan Petroleum Flashnote
Date of publication:27th February 2009
Published by:Fox Davies Capital
2. http://www.fox-davies.com/media/28129/cadogan15january2009.pdf
Name:Cadogan Petroleum Flashnote
Date of publication:15th January 2009
Published by:Fox Davies Capital
2.JKX OIL & GAS
http://www.jkx.co.uk/
Company Overview:
Listed on LSE (London)
Bloomberg Ticker:JKX LN
Free Float:~50%
Production:c. 11,010 boepd in 2008
Assets:Ukraine,Russia,+ other minor fields in different countries
Financial position:Raised GBP 125MM in 2008.
Stock ownership (as of March 2008):
Glengary Overseas Ltd12.60%
Ralkon Commercial Ltd12.60%
Interneft Ltd7.22%
Naftogaz of Ukraine6.38%
Other61.20%
JKX is an independent foreign-owned oil and gas producer with interests in Ukraine,Russia,Bulgaria,Hungary,Georgia,Slovakia and USA. Its key producing asset is located in the Dnieper-Donets basin in Ukraine while reserves are equally split between Russia and Ukraine.
In Ukraine,The Poltava Petroleum Company (PPC) - a wholly-owned subsidiary of JKX – is the largest non-state oil and gas producer. PPC currently holds 7 licences – Ignativske,Movchanovske,Rudenkivske,Novo-Mykolaevske,Zaplavske,Elizavetivske and Chervonoyarske East with 100% interest in all of them.
1. http://www.jkx.co.uk/uploads/JKXFinalAnnualReport2007.pdf
Name:Annual Financial Report for year ended 31 December 2007
3.REGAL PETROLEUM
http://www.regalpetroleum.co.uk/
Company Overview:
Listed on AIM (London)
Bloomberg Ticker:RPT LM
Free Float:~60%
Production:c. 1,233 boepd in 2008
Assets:Ukraine,Romania,Egypt
Financial position:Raised GBP 105MM in 2008.
Stock ownership (as of March 2008):
C.A Fiduciary Services Ltd14.15%
BlackRock Investment Management10.23%
Henderson Global Investors6.48%
Capital Research and Management5.59%
Other63.55%
Regal Petroleum plc is a London-based independent oil and gas producer listed on the Alternative Investment Market of the London Stock Exchange. The company is focused on the exploration,development and production of oil and gas assets in Ukraine,Romania and Egypt.
In Ukraine,Regal Petroleum has a 100% interest in and operates two adjacent onshore fields in north-eastern Ukraine - Mekhediviska-Golotvshinska (MEX-GOL) and Svyrydivske (SV). Both fields are parts of the Dnieper Donets sedimentary basin (the richest in gas and condensate reserves). The fields have a combined 2P reserves estimate of 169 MMboe.
1. http://www.regalpetroleum.com/uploads/RegalPetroleumInterimReport2008.pdf
Name:Interim Financial Report for year ended 30 June 2008
2. http://www.regalpetroleum.com/uploads/WorldJuniorOilandGasCongress1stDecember2008.pdf
Presentation to investors
Date:December,2008
3. http://www.regalpetroleum.com/uploads/AIMAdminssion.pdf
Name:Prospectus (Admission Document),2002
Research:
1. http://www.fox-davies.com/media/38625/fdcregalfebruary272008.pdf
Name:Regal Petroleum Flashnote
Date of publication:27th February 2009
Published by:Fox Davies Capital
4.UKRNAFTA
http://www.ukrnafta.com/eng/select.shtml?202
Bloomberg ticker:UNAF UZ
Stock ownership:
State (via Naftogaz)50%+1 share
Privat GroupEst. 42%
Other8.00%
Ukrnafta is Ukraine’s largest crude oil producer,accounting for nearly 90% of the country’s output. Ukrnafta operates six production units in two of the three oil and gas producing regions in Ukraine – the Dnieper-Donets Basin (in the East) and the Prykarpattya Cave region (in the West).
PUBLICLY LISTED COMPANIES WITH MINOR INTEREST IN UKRAINE
1.CAPITAL OIL
http://www.capitaloil.se/index.php?mid=21&lang=en
Company Overview:
Listed on First North (Sweden)
Bloomberg Ticker:COIL
Capital Oil is a Swedish oil exploration and production company with minor interest in Ukraine. The company focuses on two exploration licenses in western Ukraine - Kubash-Lukva and Maydan,outside Ivano-Frankivsk. It operates under the JAA (joint activity agreement) with the state-municipality owned Bogorodchanynaftogas.
2.EUROPA OIL AND GAS
http://www.europaoil.com/default.asp?contentID=1
Company Overview:
Listed on AIM (London)
Bloomberg Ticker:EOG
Europa holds 70% in Horodok field license,which was written off in 2007 and is currently on sale.
3.NOSTRA TERRA OIL AND GAS
http://www.ntog.co.uk/index.php
Company Overview:
Listed on AIM (London)
Bloomberg Ticker:NTOG
In 2007,Nostra Terra acquired 60% stake in Oktyabrskoe license area and operates under the JAA (joint activity agreement) with state-owned Crimgeologiya.
4.TRANSEURO ENERGY
Company Overview:
Listed on TSX-V (Toronto)
Bloomberg Ticker:TSU
Canada-based Transeuro Energy Corp. specialises in the acquisition of petroleum and natural gas rights,the exploration for,and development and production of crude oil,condensate and natural gas. Transeuro has interests in Canada,Armenia,Ukraine and,through majority ownership in Eaglewood Energy Inc,in Papua New Guinea. In Ukraine,Transeuro operates in Crimea through its JV (joint venture) with Australian exploration and production company RAG,which works under a JAA (joint activity agreement) with Ukrainian state company Crimgeologiya.
5.SHELL EXPLORATION AND PRODUCTION
Company Overview:
Shell Exploration and Production signed a joint activity agreement with Ukrainian state oil company Ukrgazbydobuvannya outlining work programs and the terms of the agreement. The Ukrainian company is a subsidiary of Naftogaz of Ukraine. Under the agreement,the companies will study an 11,969-sq-mile (31,000-sq-km) area in the Dnieper Donets Basin of central-eastern Ukraine. The region has potential for significant reserves. According to the agreement,Shell has farmed into eight Ukrgazbydobuvannya licenses in the basin with deep potential and shallower production. Shell can earn a half interest in the deeper play for a commitment to acquire seismic data and for drilling deep exploratory wells over a 3-year period that started in June.
6.SHELTON CANADA CORP.
http://www.sheltoncdn.com/
Company Overview:
Listed on TSX-V (Toronto)
Bloomberg Ticker:STO
Shelton Canada Corp. is a junior oil and gas company actively engaged in exploration and development activities in Ukraine. Shelton is involved in a range of projects in close association with the Ukrainian state-owned companies. Onshore,it owns 45% of Lelyaki Oil Field in the Dnieper-Donets basin in partnership with the Ukrnafta. Offshore,it develops Biryucha and North Kerchenskaya fields in Crimea under JAA (joint investment agreement) with Chernomorneftegaz,a leading state-owned Crimean oil and gas company specialising in offshore projects.
PRIVATE COMPANIES
1.FERREXPO PETROLEUM
http://www.ferrexpopetroleum.com/english/home.htm
Company Overview:
Ferrexpo Petroleum is a privately owned exploration and production company with significant onshore interests in Ukraine. Ferrexpo Petroleum holds eleven fully-owned exploration licences in the Dnieper-Donetsk basin in Ukraine through four operating companies - Atol,Ama,Amtek and Ferrexpo Petroleum Onshore. The gas is currently produced on Lubachevsko-Scherbakivska licence and the company is currently pursuing an exploration and appraisal program across all of its eleven licences. Ferrexpo’s potential reserves are estimated at around 500mmboes (of which 2.4mmboes are proven).
2.HAWKLEY OIL AND GAS
http://www.hawkleyoilandgas.com/
Company Overview:
Hawkley Oil & Gas is a privately owned exploration and production company with assets in the Dnieper – Donets Basin in Ukraine held via a wholly owned subsidiary. The company owns 100% of two licences situated in the prolific Dnieper-Donets basin – Sorochynska and Chernetska (5 years Exploration and Pilot Production licenses). According to Ukrainian state reserves,the total reserves are estimated at over 300BCF gas and 16mmbls of condensate.
3.KUBGAS
Company Overview:
KubGas is an independent exploration and production company and is the third largest non-governmental producer in Ukraine. It holds 4 licences,100% owned and operated,in the Dnieper-Donetsk Basin and Pripyat Graben. In 2007,it produced 5.98 BCF of gas and ~50,000 bbls of condensate. KubGas’ reserves are estimated at 36.1 mln boe.
4.KUWAIT ENERGY
http://www.kuwaitenergy.com.kw/Default.aspx?pageId=88&mid=1294
Company Overview:
Kuwait Energy is a privately owned exploration and production company,which holds interests in four fields and three license areas in Ukraine. One of the licenses,Bilousivsko-Chornukhinska (BC),is 100% owned by the Company and the remaining licenses and all fields are held through agreements with two Ukrainian state-controlled entities,Ukrnafta and Ukrgazvydobuvannya (Ukrgaz). Current average production is 900 bpd and the company estimates its 2P reserves at 42.9MMBOE.
5.TIWAY OIL
http://www.tiwayoil.com/
Company Overview:
Tiway Oil is a Dubai-based exploration and production company focused on major petroleum basins and frontier areas,especially in Eastern Europe and Central Asia. The cpmpany currently operates two fields in Crimea,through a JAA with a local partner.
6.VANCO ENERGY COMPANY
http://www.vancoenergy.com/exploration/ukraine.htm
Company Overview:
Vanco Energy Company is an independent exploration and production company,specialising in deepwater. In 2007,Vanco signed Ukraine’s first Production Sharing Agreement covering the Prykerchenska area just south of the Crimean Peninsula and still is the only company operating under PSA in Ukraine. Currently the agreement is under dispute with the Government.
