Hank's Oil &Gas Service companies

[10 bagger]

Dahlman Rose & Co. to Host First Annual Ultimate Oil Services & Drilling Conference

PR Newswire - Nov 22 09:04 EDT

NEW YORK, Nov. 22, 2011 /PRNewswire/ -- Dahlman Rose & Company, LLC, a leading investment bank specializing in the global natural resources supply chain, will host its 1st Annual Ultimate Oil Services and Drilling Conference on November 29-30, 2011, in New York City. Executives from over 50 premier international oilfield and drilling companies will discuss the outlook for their respective businesses.

"Our inaugural Ultimate Oil Services and Drilling Conference underscores the firm's strong commitment to the Energy industry," said Kim Fennebresque, Chairman and Chief Executive Officer of Dahlman Rose & Co. "This two-day forum will provide institutional investors with valuable insight from top executives on the current global dynamics impacting the price of oil, future market trends and more."

The conference will be led by James Crandell, Managing Director of Equity Research – Global Head of Oil Services & Drilling and Douglas Garber, Vice President of Equity Research – Oil Services & Drilling.

The format of the conference will consist of presentations and one-on-one meetings with company management. Companies scheduled to participate include:

OILFIELD SERVICES – Baker Hughes (NYSE: BHI), Basic Energy Services (NYSE: BAS), C&J Energy Services (NYSE: CJES), Calfrac Well Services (TSX: CFW), Core Laboratories (NYSE: CLB), Halliburton (NYSE: HAL), Key Energy Services (NYSE: KEG), Oceaneering International (NYSE: OII), RigNet (NASDAQ: RNET), RPC, Inc. (NYSE: RES), Superior Energy Services (NYSE: SPN), TESCO Corporation (NASDAQ: TESO), TETRA Technologies (NYSE: TTI), Trican Well Service (TSX: TCW) and Weatherford International (NYSE: WFT).


OILFIELD EQUIPMENT – Cameron International (NYSE: CAM), Chart Industries (NASDAQ: GTLS), Dresser-Rand Group (NYSE: DRC), Dril-Quip (NYSE: DRQ), Exterran (NYSE: EXH), FMC Technologies (NYSE: FTI), Lufkin Industries (NASDAQ: LUFK), National Oilwell Varco (NYSE: NOV), Oil States (NYSE: OIS), Robbins & Myers (NYSE: RBN), Tenaris (NYSE: TS), TMK (LSE: TMKS) and Vallourec (EPA: VK).

ONSHORE DRILLING – Ensign Energy (TSX: ESI), Helmerich & Payne (NYSE: HP), Parker Drilling (NYSE: PKD), Patterson-UTI Energy (NASDAQ: PTEN), Pioneer Drilling (NYSE: PDC), Precision Drilling (NYSE: PDS), Savanna Energy Services (TSX: SVY), Trinidad Drilling (TSX: TDG), Union Drilling (NASDAQ: UDRL) and Unit Corp. (UNT).

OFFSHORE DRILLING – Noble Corp. (NYSE: NE), Pacific Drilling (NYSE: PACD), Prosafe (OSL: PRS), Songa Offshore (OSL: SONG) and Vantage Drilling (NYSE: VTG).

OFFSHORE SUPPLY – Bristow Group (NYSE: BRS), Dockwise (OSL: DOCK), Gulfmark Offshore (NYSE: GLF), Seacor Holdings (NYSE: CKH) and Tidewater (NYSE: TDW).


SEISMIC – CGG Veritas (NYSE: CGV), Global Geophysical Services (NYSE: GGS) and Oyo Geospace (NASDAQ: OYOG).

Crandell said, "We are pleased to host an exceptional lineup of oilfield services, equipment and drilling companies. In highlighting the critical sectors along the global energy supply chain, our clients will have a unique opportunity to further their industry knowledge and expand their network."



ABOUT DAHLMAN ROSE & CO.

Dahlman Rose & Co., LLC (MEMBER: FINRA/SIPC) is a research-driven investment bank focused on energy, transportation, infrastructure, and other industries that compose the global supply chain. The firm's industry-leading analysts, bankers, and traders offer unique insight into the companies and markets that provide the building blocks of the global economy. Dahlman Rose provides institutional sales and trading, equity research, mergers and acquisitions advisory, and underwriting services. For more information regarding Dahlman Rose, please visit www.drco.com.



SOURCE Dahlman Rose & Company, LLC

[10 bagger]

This board is currently inactive.. Hank

[10 bagger]

Deep Harsh water drillers need another look.. I will take some time and bing this board up to date soon.. hank

[10 bagger]

RCON..$7.00

This is the first O&G services company I have found in over a year that I would own.. Ran today on this report.. $6.60 is my entry point..hank

Recon Technology Announces Strong Revenue and Profit Gains as China Oil Services Business Rapidly Expands

PR Newswire - Feb 11 at 10:17 NONE

Company Symbols: NASDAQ-SMALL:RCON

Six Months Revenue up 46% to $10.6M, Net Income up 47% to $1.9M
Conference Call Friday, February 12, 2010 at 10:00 AM ET


BEIJING, Feb. 11 /PRNewswire-Asia-FirstCall/ -- Recon Technology, Ltd. (Nasdaq: RCON), a leading Chinese non-state-owned oil and gas high-tech products and services provider, today reported financial results for its FY '10 second quarter ended December 31, 2009.

Q2 FY '10 Highlights
-- Revenue for Q2 FY '10 increased 27% to $7.3 million from $5.8 million
in Q2 FY '09 attributable to strong sales of oil field furnaces,
increasing demand of automation products and high value-added oil-field
services.
-- Gross profit increased 44% to $3.6 million for Q2 FY '10 from $2.5
million in Q2 FY '09.
-- Q2 FY '10 gross margin increased to 49% from 43% in Q2 FY '09,
primarily due to Recon's focus on higher margins services such as
software and service solutions.
-- Income from operations rose 34% to $2.5 million compared with $1.9
million in Q2 FY '09.
-- Net income was $1.8 million, an increase of 31% over $1.4 million in Q2
FY '09.
-- Earnings per diluted share were $0.45, compared to $0.62 per diluted
share in Q2 FY '09, reflecting an increase in shares issued associated
with the company's 2009 IPO.
-- Weighted average number of diluted shares outstanding was 4.05 million,
compared to 2.25 million in Q2 FY '09.


First Six Months FY '10 Highlights
-- Revenue was $10.6 million, an increase of 46% over $7.3 million for the
six months ended December 31, 2008.
-- Gross profit increased 67% to $4.6 million vs. $2.7 million for the
same period in 2008
-- Gross margin increased to 43% from 37% for the six months ended
December 31, 2008
-- Income from operations was $2.7 million, a gain of 55% from $1.8
million for the same period in 2008
-- Net income increased 47% to $1.9 million compared to $1.3million for
the first six months of FY '09.
-- Earnings per diluted share were $0.51 compared to $0.57 per diluted
share for the first six months of FY '09, reflecting an increase in
shares issued associated with the company's 2009 IPO.
-- Weighted average number of diluted shares outstanding was 3.70 million,
compared to 2.25 million for the six months ended December 31, 2008.


Liquidity and Capital Resources

The company's cash balance on December 31, 2009 was approximately $6.6 million. Recon had short-term debt of $829,000 and no long-term debt. Working capital was $15.9 million. Stockholders' equity totaled $14.9 million. The current ratio was 2.78, up from 1.90 at June 30, 2009. Net cash provided in financing activities totaled $8.7 million for the six months ended December 31, 2009, including payback of notes payable and proceeds from IPO on July 30, 2009.

Shenping Yin, Recon's Chief Executive Officer, said, "We are happy to report sustained growth in our second fiscal quarter. Our strong financial results reflect our ability to optimize our product lines in expanding our business. We are benefiting from robust demand from major oil companies for high-tech solutions and new software systems. We believe that operators of the Chinese oilfields have a growing need for new computerized systems and production enhancing measures in maturing oil and gas wells and thus have a strong ongoing need for our proprietary technology."

Conference Call

Recon CEO Mr. Shenping Yin and CFO Ms. Jia Liu will host a conference call at 10:00 AM Eastern Time tomorrow on Friday February 12 (11:00 PM Beijing/Hong Kong Time on February 12) to review the company's financial results and respond to questions and comments.

To participate, call U.S. Toll Free Number 1-877-941-4775 approximately 10 minutes before the call. International callers, please dial 1-480-629-9761. The conference ID number is 4221464. An MP3 file will be available after the call for 90 days via http://www.hawkassociates.com/profile/rcon.cfm .

About Recon Technology, Ltd.

Recon Technology, Ltd. has been providing leading Chinese oil and gas companies with automation services that increase efficiency and profitability in exploring, extracting, producing, processing, refining and transporting petroleum products for over 10 years. The company's proprietary computerized process control system manages oil production in real-time to increase extraction levels, reduce impurities in extracted petroleum and lower production costs. In addition, as one of only two acoustic system providers in the world, Recon's acoustic pipeline monitoring system is widely used to prevent gas leakage in the transport pipeline. Recon's technology is based on three software copyrights, eight product patents and four pending patents. Recon Technology is the first Chinese non-state-owned oil and gas service company to go public in the U.S. More information may be found at http://www.recon.cn or e-mail: [e-mail].

Recon's online investor kit, including an investment profile, press releases, current price quotes, stock charts and more is available at http://www.hawkassociates.com/profile/rcon.cfm . To receive notification of future releases via e-mail, subscribe at http://www.hawkassociates.com/about/alert/ .

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission.

All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

For more information, please contact:

Investor Contact:
Hawk Associates
Susan Zhou
Tel: [phone]
Email: [e-mail]

SOURCE Recon Technology, Ltd.

[10 bagger]

Deep Sea Supply Plc; Highest revenues and EBITDA in the Company's history
Text


Improved utilization combined with an increased fleet improved
DESSC's revenues to a record high level of USD 56,4 mill. in
4Q08 and USD 190,4 mill. for 2008. Adjusted for fleet growth, the
vessels' operating expenses in 4Q08 reduced by 2% from 3Q08.

EBITDA for 4Q08 improved to USD 37,6 mill. and for 2008 to
USD 122,2 mill. which are the highest in the Company's history.
The EBITDA margin for 4Q08 improved to 66,7%.

Net result for 4Q08 was USD 12,5 mill. and for 2008 USD 53,4 mill.
or USD 0,42 per share.

The net result for 2008 is positively impacted by sale of vessels
USD 29,4 mill. and negatively impacted by allocations for losses of
USD 16,8 mill. related to unrealized losses on shares acquired in
an offshore supply company and allocation for losses on receivables
to Scan Geophysical ASA.

Deep Sea Supply has committed financing in place for all delivered
vessels and its newbuilding program.

The Board suggests a further break in dividend distributions in the
4th quarter due to the continued low visibility in the financial
markets
paired with uncertainty about the future markets following the
international financial crises. The Company however intends to
continue pursuing its shareholder friendly strategy.

Limassol, 25 February 2009
Deep Sea Supply Plc


This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.

[teomax]

some more news:
1H 08 - ON-TRACK FOR SELF-BURYING TESTING IN Q3



Badger Explorer ASA (BXPL) has during 1H 2008 successfully conducted the first part of its Demo50 full-scale prototype test in Denmark. Jig-assisted tests have been performed onshore in an area with relevant geology, showing encouraging results and which verify that the test site and the prototype unit are well-suited for the semi-autonomous self burying tests.

The first half of 2008 has also seen the finalization of the extended partner agreement, which has been signed by ExxonMobil and StatoilHydro. The agreement involves extensive support from the partners in the ongoing development phase, covering the period through to and into commercial operation, expected in 2010. In return, the partners have secured first right of refusal to buy the full manufacturing capacity of Badger Explorer at market price for a period of three years from commercialisation. Finalization with Shell is expected, but still pending.

The Company is on-track with the development plan for Badger Explorer with regards to progress, technical development and budget.

Development within BXPL subsidiary Badger Plasma Technology AS has been brought to a tentatively conclusive phase, resulting in reduced focus for the coming 3-4 quarters. The additional resources will be made available to the Badger development program.

From a technical, contractual and commercial point of view important milestones with regards to the development of Badger Explorer are now being reached. The outlook for the rest of 2008 is positive, but challenging. Successful semi-autonomous tests of the Demo50 in Denmark will be a major technological milestone, however considerable engineering, systems development, testing and stabilisation will still be needed for the Demo125, planned for 2009.

BXPL are now proceeding with prototype assembly in order to initiate testing of the semi-autonomous Demo50 drilling unit within Q3 2008. Status of these tests will be given in connection with the presentation of 3Q 2008 results, scheduled for 22 October 2008.

[teomax]

hank, any thoughts on Bagger explorer? (they are trying to bring new, inovative solutions to underwater drilling and are backed by Statoil, Shell and ExxonMobil)

their presenation:
http://bxpl.postmann.net/postmann/dbase/bilder/BXPL%201Q-2008%20presentation%20FINAL.pdf


http://bxpl.postmann.net/default.asp?id=895

The Badger Explorer, a new formation and reservoir evaluation tool which drills into the underground without the risks, cost and complexity of drilling an exploration well with a rig.

Badger Explorer, an autonomous drilling machine, which is a rig less, “fly by wire” exploration tool.

Drills into the underground and buries itself.
Slim electrically powered drilling system.
Carries sensors, which continuously records data.

Consists of the following main functions;
- drill bit driven by an electro-motor and gear
- cutting transport, separation, deposition, compression and fracture injection device
- spooled cable, through which power is supplied to the tool and data transferred to surface.

Developed through use of proven technology, combined with proprietary solutions.
Non-reusable exploration tool that remains in the underground.

[10 bagger]

China eyes windfall oil tax cut to avoid price rise
Thu May 29, 2008 2:50am EDT

BEIJING (Reuters) - After nearly exhausting its oil policy toolkit, Beijing has one last gambit to help it bolster oil company profits and avoid a painful rise in fuel prices before the Olympics -- relaxing its windfall production profit tax.

For Beijing, which is equally anxious to put a lid on inflation as it is to maintain social harmony ahead of the August Olympics, the choice is clear, analysts say.

"It's a no-brainer for China. If they are smart, they should cut or remove the windfall tax, recapitalize the oil companies, instead of hiking prices and risking runaway inflation," said China oil analyst Gordon Kwan of CLSA.

Executives from top upstream producer PetroChina (PTR.N: Quote, Profile, Research) and leading refiner Sinopec (SNP.N: Quote, Profile, Research) have appealed to Beijing for relief on the tax, which could go part way to easing the burden of buying costly imported crude or fuels to sell at low local rates.

Petrochina Chairman Jiang Jiemin said last week that the government is now considering a proposal to reduce the tax, which was imposed two years ago to charge domestic crude oil producers 20-40 percent of revenues at oil prices above $40 a barrel.

He gave no details, but Sinopec executives said Beijing could raise the starting point to $60 a barrel, preserving an estimated up to $6 billion in revenue on China's 1.36 billion barrels of annual output. Executives hope a decision is imminent.

After ushering in half a dozen measures in the last 19 months -- mostly tax incentives aimed at boosting local supplies by making imports cheaper or exports more costly -- adjusting the windfall tax is one of the few levers it has left.

And some analysts say it's about time that PetroChina (0857.HK: Quote, Profile, Research), which produces nearly two-thirds of China's crude but has been left out of Beijing's past handouts, get a cut of the subsidies since it is also a big refiner and retailer.

China handed out a $1 billion rebate to Sinopec Corp (0386.HK: Quote, Profile, Research) in April, the company said on Tuesday, part of a deal to rebate much of the 17 percent tax on imported crude -- a measure that does little good for PetroChina.

"It will be wise for the government to box with both fists. It will be fair to both PetroChina and Sinopec," said Liu Bo, a Shanghai-based analyst with Guojin Securities.

SHORTAGE RISK

More than Beijing's finances and PetroChina's profits are at stake -- global oil prices fell from their peaks this week as traders braced for slower demand from the fast-growing Asian region after a host of small consumers like Indonesia, Taiwan and Sri Lanka sharply raise subsidized domestic fuel prices.

Those hoping China, the world's second-largest consumer, would follow suit soon could be in for disappointment.

Even with domestic fuel prices lagging far behind global rates -- China has raised domestic prices only twice in the past two years with a 10 percent rise last November -- Beijing has the financial wherewithal to hold out for a while, analysts say.

Beijing could of course opt to ignore its politically powerful oil duopoly -- but doing so risks worsening domestic fuel shortages that analysts say are often caused by firms holding back fuel from the market, causing a visible shortage in supply both to minimize losses and to step up pressure on Beijing.

Diesel fuel shortages last week began cropping up in provinces like Zhejiang, Hebei and downtown Beijing, local drivers say, causing long queues and rationing. But they have yet to reach the fever pitch of last October, when a nationwide crisis finally forced Beijing to raise prices.

The gap between the domestic and global markets has widened swiftly with crude up 39 percent since China last raised rates.

For a graphic showing China's retail prices versus crude: here

Guojin Securities's Liu estimated that Beijing would have to increase its retail diesel price by 50 percent and gasoline by 25 percent to match that of the top consumer the United States, where consumer fuel taxes are similarly low.

But analysts agree China is unlikely to risk fanning inflation now near a 12-year high, or risk riling its people after this month's devastating Sichuan earthquake, by taking any sudden or significant measures.

Other countries with more precarious government finances have been forced to reduce subsidies, however, with Indonesia raising fuel prices by nearly 30 percent at the weekend.

"The government has been really concerned as oil prices rose much faster than expected," a Sinopec executive told Reuters.

"You use subsidies when you don't have many other choices. Aligning fuel prices with market rates is the ultimate goal, but the government has to measure the pace, has to take into account the quake impact, the high CPI."

The crude tax rebate, by returning 75 percent of the 17 percent value-added tax on about 3.6 million barrels of China's daily crude imports, is equivalent to raising fuel prices by 12-13 percent, which is still not enough to prevent losses, according to one Sinopec executive.

And China is already refunding the full rate of 17 percent VAT on gasoline and diesel imports, an incentive started last December and later extended through June. Oil traders expect it to be extended to cover third-quarter imports.

Those policies plus a forced build-up in domestic inventories ahead of the Olympics also forced China to become a net importer of gasoline for the first time ever in April, and has driven up diesel imports, one factor behind oil's latest rally.

That's a stark contrast to a decade ago, when Beijing had to slap a ban on diesel imports to fight rampant smuggling as domestic diesel was much more costly than imports.


British Leader Warns of Global Oil Price Shock - NYTimes.com
The New York Times
France’s president wants tax cut on fuel in Europe
U.S. News
Sarkozy calls for tax cut as fuel protests spread in Europe
Yahoo! News - World

[10 bagger]

DPDW Update...

My initial projection's on DPDW are stated below.. After tweaking for Flotation and the unbelivable control that PBR has taken over the Harsh Water Deep Drillers by contracting over 80% of ALL avilable and newbuild deep drilling rigs through 2010 I am firming 08 at $0.19 and raising my 09 moving target to $0.36 to $0.40 for EBTIDA... This based upon new build construction of SUB.ol,, SIOFF.ol and FPSO storage facility builder SEVAN.ol.. All are O&G Service Ship Suppliers to PBR and will provide services under exisiting new build contracts supply and product processing to PBR..

As PBR with it's new contracts for Deep Rigs has ineffect cornered the market on Deep Drilling ships and platforms,,, orders and contracts for New and Newbuild Deep Drill supply ships and FPSO's can't be too far behind.. DPDW is the suppplier of first choice to the newbuild handling and docking systems to SUB.ol,, SIOFF.ol and FPSO builder and operator SEVAN.ol.. In addition with it's pending purchase of Flotation,, DPDW will be in a commanding position to provide drill pipe floatation for the deep water drilling services of those mentioned companies..

My former Projections were:

The projection of per/share earnings by an analysts for 09 may seem a little high but I think that they are doable because the FSPO market will ramp up and if they secure more new build ships providing contracts for thier products.. The 08 numbers should start to ramp up with the next quarter giving guidance as to the magnitude of DPDW's inclusion in the new build market.. 08 could be a bit of a stretch if indications are not present in the upcoming qtr..

As of now I look for EBTIDA to come in at $0.16 to $0.19 in 08 and $0.31 to $0.38 in 09...These numbers are wide for 09 because there is a possibility of shipbuilding contracts either being delayed or CXL. due to the O&G market outlook 2 years from now.. FPSO's will be immune from any downturn in oil prices as they are storage and processing facilities for oil already in the ground/sea bottom that has been discovered and that need processing.. hank

http://seekingalpha.com/article/77511-petrobras-is-hoarding-the-world-s-deep-sea-drillers?source=yahoo

[10 bagger]

New all-time-high for IMAREX tanker FFAs
Tekst
April 2008 highlights:

- New all-time-high number of tanker FFA
transactions in April with 1 666 deals concluded -
up 55% since the same period last year
- Dry bulk FFA volumes rose 54% whilst the
notional value of contracts rose 183% to $896
million compared to April 2007
- Freight option volumes rose 177% and the
notional value of options traded rose 385% to $548
million
- Total volumes traded rose 53% to 41 800
lots concluded in nearly 2000 transactions during
April
- The notional value of freight derivatives
traded at IMAREX and cleared at NOS Clearing rose
by $1 billion to $1.8 billion, up 116% compared to
April 2007
- Two new members takes membership to 198

........................

Trading statistics - Freight Derivatives April 2008:

Apr.08

# Trades 1,925
# Lots 41,812
# Notional value $1,858 million

[J-RO]

.<font color=black> Updated Discounted Cash Flow Model - DPDW

*Please find below my DCF model for DPDW. Upon review, feel free to ask me any questions that you may have.

**Comments: I've calculated an estimate for the Flotec acquisition, which will directly impact DPDW's operating results for FY 2008 (and beyond). On a more forward looking basis, I decided to run my revenue estimate for FY 2009, because DR hasn't updated their projection to reflect revenue and earnings for Flotec.

http://www.keepandshare.com/doc/view.php?id=555433&da=y

***You will need MS EXCEL to view the model. Below is an MS EXCEL viewer, should you need it. Please disable the macros when you open the file (if the prompt appears).

http://investorshub.advfn.com/boards/read_msg.asp?message_id=27069075

[10 bagger]

OSLO, April 16 (Reuters) - Seismic surveyor EMGS (EMGS.OL: Quote, Profile, Research) said on Wednesday a Dutch patent court ruled in its favour in a case against U.S. Schlumberger (SLB.N: Quote, Profile, Research), boosting the Norwegian group's shares along with speculation about a possible takeover.

Shares in EMGS, whose full name is Electromagnetic Geoservices ASA, surged 17.8 percent to close at 37.80 crowns on a rising Oslo stock exchange .

Schlumberger Ltd, the world's largest offshore services group, brought the suit in June 2007, claiming EMGS infringed on its technology for electromagnetic (EM) scans used for oil and gas exploration.

EMGS, a relative seismic minnow worth $550 million, welcomed the ruling but said it was "not material" for its strategy.

"Just about everyone expected them to lose this case," said one seismic sector analyst, who asked not to be named. "This increases the potential for a takeover because they now have rights to their technology."

EMGS specialises in electromagnetic searches for oil and gas deposits under the seabed, an alternative to conventional seismic scans using sound waves that can more closely map reservoirs, helping producers boost recovery rates. "EMGS confirms that three of its patents that are disputed by Schlumberger Holdings will remain valid," EMGS said in a statement.

In a short conference call with investors and journalists, EMGS Chief Executive Terje Eidesmo said: "This is not critical for our business. What is critical for our business is the job we do day to day."

EMGS said the Dutch patent court stayed the proceedings until a decision by the European Patent Office, expected within three to four years. "In doing so it disregarded Schlumberger's objections against a stay of proceedings," EMGS said.

The court also upheld EMGS's view that it invented seabed logging and was the first company to use electromagnetic technology to detect oil and gas reservoirs directly.

"We do expect further patent challenges as more companies realise the game-changing nature of EMGS's electromagnetic technology and will continue to defend our patents in the interests of our shareholders and other stakeholders," it said.

The seismic sector saw a flurry of acquisitions late last year amid record high energy prices and a global rush to offset dwindling oil and gas reserves. New seismic technology, including EM, is expected to keep margins fat.

Schlumberger bought Norwegian start-up Eastern Echo after a bidding war with its biggest seismic rival, French CGGVeritas CEPH.PA(CGV.N: Quote, Profile, Research). Smaller Norwegian rival Petroleum Geo-Services (PGS.OL: Quote, Profile, Research) scooped up compatriot Arrow Seismic ARROW.OL to keep pace in the consolidating sector. (Editing by David Holmes, Paul Bolding)

[10 bagger]

PGS.ol says wins biggest ever contract
Mon May 5, 2008 6:55am EDT

OSLO, May 5 (Reuters) - Norwegian seismic survey group Petroleum Geo-Services ASA (PGS.ol) won a contract worth $180 million to $200 million from Brazil's Petrobras , the biggest ever of its kind, PGS said on Monday.

PGS said the tendered value of the contract, which is for offshore surveys using its newest vessel, was $251 million but the value was cut after talks with Petrobras.

Shares in PGS rose 2.8 percent to 146.25 crowns by 1038 GMT, valuing the group at about $5.16 billion. The Oslo bourse's benchmark index was down 0.5 percent.

The contract is for a high-density, four-dimensional marine seismic survey work and is the largest such contract ever in the industry, PGS said.

The surveys in the Campos, Santos and Espirito Santo Basins are due to begin in October 2008, using PGS' latest vessel the Ramform Sovereign, PGS said.

"This contract is an important strategic milestone to PGS," PGS Chief Executive Jon Erik Reinhardsen said in a statement, adding that the contract was for "the area where the world's most significant recent discovery is made".

Last month the head of Brazil's National Petroleum Agency said a discovery by Petrobras at the Carioca prospect may be the world's biggest oil discovery in 30 years, though officials have subsequently toned down the optimistic comments.

Investor relations officer Baard Stenberg said the margin on the contract was in line with what the company was getting for other jobs but did not disclose a specific figure.

[10 bagger]

Stupid Idea of the Week
Thursday May 1, 1:17 pm ET
By Dirk van Dijk, CFA


Recently, Sen. McCain proposed suspending the $0.18 per gallon gas tax from Memorial Day through Labor Day. The tax goes directly into the highway trust fund. The country's infrastructure is crumbling as it is, as dramatically illustrated by the bridge collapse in the Twin Cities awhile back. Construction workers are among the groups hardest hit on the unemployment front, with much more pain to come as Commercial Real Estate is about to slow down big time. So, let's cut off the funds to repair our highways and throw more people out of work: Brilliant!

The stupidity of the idea goes much further than that. If demand for a product is high, and the supply is limited, particularly in the short term, then eliminating a tax on the product will not cause the price to come down significantly, it will just mean that to sellers will get higher margins. In the short term the supply is very much fixed. Refineries always run flat out during the summer to make as much gasoline as they can. They have some flexibility in the spring and fall months to adjust their mix of product, but that inventory building season is just about done now.

To the extent that prices do come down they will simply stimulate higher demand (or prevent demand from falling). Given our country's dependence on imported oil, and all the economic and national security considerations that go along with it, this is exactly the opposite of what we need. Not to mention that higher gas demand means more carbon in the atmosphere, eventually dooming the entire planet.

Sen. Clinton has gone along with the proposal, although she wants to slap a windfall profits tax on the oil companies to make up for the shortfall in the highway trust fund. This addresses some of the concerns, but defining what exactly are windfall profits is a task akin to judging the number of angels dancing on the head of a pin.

Imposing such a tax for only a few months is, in a word, silly, and will never get hrough Congress by Memorial Day. In any case, it is not that refiners are making huge profits, the crack spread has been very low recently. This is not energy policy, it is political pandering at its absolute worst.

The problem is in the price of crude, which the oil companies have no control over. Given the difficulty in finding new supplies and raising global production, get used to high crude oil prices, they will be with us for a long time. The only way that prices will come down is if global demand for oil stops growing. However, it is unlikely that demand from China, India, or domestically in OPEC countries is going to fall anytime soon.

Yes, oil prices have been pulling back in recent days as the dollar has rebounded a bit on hopes that the Fed is done with rate cuts. I would be surprised if we go lower than the most recent low in the high $90's. After this low we are likely to see another new high above the most recent high of around $120.

Use any weakness in oil stocks caused by this pull back to add to you positions in quality companies. For conservative investors, Exxon (NYSE: XOM - News) and Conoco (NYSE: COP - News) look like good bets, even if XOM did disappoint this morning due to downstream weakness (see comment above about the refineries). Internationally Petrobras (NYSE: PBR - News) is sitting on the most significant new oil discovery in recent decades and looks like a good bet.

More aggressive investors might want to look at some of the E&P companies, such as Chesapeake (NYSE: CHK - News), Comstock (NYSE: CRK - News), EOG Resources (NYSE: EOG - News) and Newfield Exploration (NYSE: NFX - News). Another good way to play things is through the oil service and drilling companies such as Transocean (NYSE: RIG - News), Diamond Offshore (NYSE: DO - News), Pride (NYSE: PDE - News), Grey Wolf (AMEX: GW - News) and National Oilwell Varco (NYSE: NOV - News).

[10 bagger]

SDRLF.pk SDRL.ol..

Seadrill secures US$4.1 billion of contracts in Brazil
Monday April 14, 2:52 am ET


HAMILTON, BERMUDA--(MARKET WIRE)--Apr 14, 2008 --
Seadrill today secured an unconditional Letter of Award for contracts with a total revenue potential of approximately US$4.1 billion over 18 rig years for three newbuild deepwater units with Petroleo Brasileiro S.A - Petrobras, in its capacity as operator of consortia of concession areas in Brazil. Upon execution, these new contracts will increase Seadrill's backlog to approximately US$12 billion.
ADVERTISEMENT






The three separate drilling rig contracts' terms and potential revenues are:

West Eminence

The sixth generation, deepwater semi-submersible drilling rig is under construction at Samsung shipyard in South Korea. The rig will be delivered during the fourth quarter 2008 and start-up of operations offshore Brazil is scheduled for the first quarter 2009. Contract duration is six years, and contractual water depth is 2,400 meters. Including mobilization fee and five percent performance bonus, the total revenue potential is US$1.35 billion.

West Taurus

The sixth generation, deepwater semi-submersible drilling rig is under construction at the Jurong shipyard in Singapore. The rig is scheduled to be delivered during the fourth quarter 2008, and start-up of operations offshore Brazil is scheduled for the first quarter 2009. Contract duration is six years, and contractual water depth is 2,400 meters. Including mobilization fee and five percent performance bonus, the total revenue potential is US$1.42 billion.

West Orion

The sixth generation, deepwater semi-submersible drilling rig is under construction at the Jurong shipyard in Singapore. The rig is scheduled to be delivered during the second quarter 2010, and start-up of operations offshore Brazil is scheduled for the third quarter 2010. Contract duration is six years, and contractual water depth is 2,400 meters. Including mobilization fee and five percent performance bonus, the total revenue potential is US$1.35 billion.

Kjell E Jacobsen, Chief Executive Officer in Seadrill Management AS said, "This is one of the most important assignments ever awarded to Seadrill and will increase our contract backlog to more than US$12 billion. We look forward to satisfy Petrobras' future drilling requirements with our newest and most advanced drilling units. Brazil will become one of the strategically most important areas of operations for the Company in the years to come."

Including the three drilling units mentioned above, Seadrill's newbuild deepwater drillship West Polaris is scheduled to commence its drilling assignment offshore Brazil in the third quarter 2008.

The contracts are subject to final contract wording.



Analyst contact:
Jim Dåtland
Vice President Investor Relations
Seadrill Management AS
[phone]

Media contact:
Kjell E Jacobsen
Chief Executive Officer
Seadrill Management AS
[phone]

Seadrill Limited
Hamilton, Bermuda
April 14, 2008

[10 bagger]

Oil services shares rally, but refiners retreat

By Steve Gelsi
Mar 25, 2008 16:20:00 (ET)


NEW YORK (MarketWatch) - Natural gas and oil services stocks joined in the broad market rally, but a profit warning from Valero weighed on shares of refiners, as crude prices ended higher Tuesday.

The Philadelphia Oil Service Index (OSXX ) led the way with a jump of nearly 3% to 271, with component BJ Services (BJS, Trade ) up 7% to $26.43.

Dahlman Rose & Co. analyst Omar Nokta initiated coverage of Transocean (RIG, Trade ), Diamond Offshore (DO, Trade ), Noble Corp (NE, Trade ), Pride (PDE, Trade ) ENSCO (ESV, Trade ) and Rowan Companies (RDC, Trade ).

In a note to clients, Nokta said U.S. offshore drilling stocks offer upside over the next year. The group has been down 12% year-to-date despite its fundamentals continuing to strengthen, he said.

The Amex Natural Gas Index (XNG ) rose 2.1% to 594, with components Southwestern Energy (SWN, Trade ), XTO Energy (XTO, Trade ), Devon Energy (DVN, Trade ) all up nearly 4%.

The Amex Oil Index (XOI ) subtracted 0.13% to close at 1,337, with component Valero (VLO, Trade ) retreating 4% to $48.10. The refiner said it expects first-quarter net income of 10 to 35 cents a share, below the forecast of 69 cents a share, according to a survey by Thomson Financial.

Sunoco (SUN, Trade ) fell 5% to $54.93 and ConocoPhillips (COP, Trade ) dipped 1.4% to $74.53.

Meanwhile, crude oil futures closed at $101.22, up 36 cents, after falling below $100 earlier in the session.

Among movers, Chesapeake Energy (CHK, Trade ) jumped 3% to $46.40 on plans to expand its core natural-gas operations is a sign that gas producers expect energy prices to stay high, The Wall Street Journal reported.

The Oklahoma City company, which could become the No. 1 U.S. natural-gas producer this year, said it found a major gas field near Shreveport, La.

But in a departure from its normal activities, it said it would develop four oil projects. Analysts told the paper that Chesapeake must see energy prices staying high if it is to make the capital investment necessary to drill for oil as well as gas.

Anadarko Petroleum (APC, Trade ) rose 46 cents to close at $63.02 after it boosted its 2008 production forecast by 2 million barrels and said it'll spend about $400 million more to get it and other resources out of the ground. The oil and gas exploration company said it'll spend about $5 billion on capital spending in 2008.

"Stronger-than-anticipated commodity prices and the recently announced divestitures of the Peregrino field offshore Brazil and the Kaskida Unit in the deepwater Gulf of Mexico have created an opportunity to increase the company's capital expenditures in 2008," the Houston energy firm said. "We expect the additional capital to enhance our operating metrics and generate stronger production volumes and reserve adds."

Set Alerts

[10 bagger]

PAR.ol...

Production start at the El Bibane field offshore Tunisia

The three well drilling program has been completed
and the production of oil has started from one of
the wells at the El Bibane field offshore Tunisia.
The oil- and gas group PA Resources owns a 25
percent working interest in the field.

The production of oil from the El Bibane field
offshore Tunisia commenced last week from the well
EBB-4 according to the operator Candax Energy. Oil
production rates have so far been variable due to
onshore plant commissioning and offshore tie-in
delays due to bad weather, both of which have
necessitated several shutdowns. The peak daily
production rate thus far is approximately 1,400
barrels of oil per day (of which net 350 bopd to PA
Resources). The operator expects the oil production
level to rise considerably over the coming weeks as
production from EBB-4 is optimised and the EBB-3
well is tied in and brought on stream.

- The production start up at the El Bibane field
will bring us a step closer to reaching the Group`s
production target for 2008. Therefore we are very
pleased to see that the three wells have been
drilled, the production of oil has started and the
re-development project will soon be finalised, says
Ulrik Jansson, President and CEO at PA Resources.

The second production well in the El Bibane re-
development project, EBB-3, was also completed last
week and the `West Titania` drilling rig`s
demobilisation has been initiated. The installation
of the EBB-3 platform and pipeline hook-ups with
the other wells is ongoing. The onshore SEEB gas
power station is also being commissioned and will
be ready to commence power generation operations
once gas production from El Bibane has been
stabilised in April 2008. The El Bibane field will
once again become an important supplier of power in
Tunisia.

The gas injection well EBB-5 was tested in the
beginning of March and flowed gas and condensate to
the onshore Central Processing Facility to clean up
the well and enable the onshore plant commissioning
to be initiated.

Facts about the El Bibane field
The El Bibane field is situated offshore in the
south-east parts of Tunisia, 16 kilometres outside
the city of Zarzis. The production at the field was
shut down in 2006 because of problems with
restarting the single producing well after
maintenance work. The re-development project
started in 2007 and is now close to finalisation.
Three wells have been drilled since 2007. When the
whole re-development project has been finalised the
field will produce oil and gas from two production
wells. In order to maintain reservoir pressure, gas
will be injected in one gas injection well. All
wells are installed on three smaller wellhead
platforms offshore. The wells` stream of oil and
gas will be transported in pipelines to a separate
production and export terminal onshore, were the
oil and gas are processed and separated. The oil is
exported and sold to the market. The gas is
supplied to a gas power station that produces
electrical power. This plant is owned by a separate
company and delivers electrical power to the
Tunisian state`s electrical company STEG.

The licensees in the El Bibane field are the
operator Candax Energy with a 75 percent working
interest and PA Resources with a 25 percent working
interest.

Stockholm, March 25, 2008
PA Resources AB (publ)

For more information, please contact:
Ulrik Jansson
President and CEO, PA Resources AB
Telephone: [phone]
E-mail: [e-mail]

or

Trond Bjerkan
Vice President, PA Resources AB
Telephone: [phone]
E-mail: [e-mail]


PA Resources AB (publ) is a fast growing oil and
gas group with the business strategy to acquire,
develop and exploit oil and gas reserves, as well
as explore new findings. The Group operates in
Tunisia, Norway, Great Britain, Denmark,
Netherlands, Equatorial Guinea and the Republic of
Congo (Brazzaville). PA Resources is today one of
the largest oil producers in Tunisia. The parent
company is located in Stockholm, Sweden.
PA Resources AB`s net sales amounted to
approximately SEK 2,751 Million during 2007. The
company is primary listed on the Oslo Stock
Exchange in Norway (segment OB Match) and secondary
listed on the OMX Nordic Exchange in Stockholm,
Sweden (segment MidCap). For additional
information, please visit www.paresources.se.

[10 bagger]

ODIM AWARDED OFFSHORE SUPPLY CONTRACTS WORTH NOK 50 MILLION
Tekst
ODIM AWARDED OFFSHORE SUPPLY CONTRACTS WORTH NOK 50 MILLION

(Hareid, 19 March 2008): ODIM has been awarded Offshore Supply contracts
with a total value of NOK 50 million.

Among the deliveries there are two ODIM Anchor Handling Frames (ODIM
AHF) for Karmsund Maritime (for customer Ezra Marine, Singapore), and
one active heave compensated ODIM ABAS crane for Solstad Offshore,
Norway. The systems are for delivery from early 2009 and by the end of
May 2010.

For further information:

Øyvind Olsen, senior vice president, communications, ODIM ASA, mobile
[phone]
Jon Olav Kopperstad, Vice President, Offshore Supply, mobile: [phone]
537

About ODIM ASA
ODIM ASA is a fast-expanding Norwegian technology company which develops
and sells advanced automated handling solutions, primarily cable
handling systems and winches for use on offshore and naval vessels. The
company occupies a leading position in selected market segments.
Through its subsidiaries in North America, it is also solidly positioned
in the defence sector.
In addition to its established market segments, ODIM will be making a
heavy commitment to the very promising deepwater market.
Les om ansvar og rettigheter

[10 bagger]

TGS Announces Availability of ''Reverse Time'' Migration Algorithm
Monday March 17, 1:30 pm ET


HOUSTON--(BUSINESS WIRE)--TGS-NOPEC Geophysical Company (TGS) today announced the commercialization of its “Reverse Time Migration” (RTM) algorithm. The internally developed RTM is the Company’s first production implementation of this pre stack depth imaging method.
ADVERTISEMENT


Reverse Time Migration is generally recognized as one of the biggest breakthroughs necessary to image the most complicated subsurface geological structures such as those encountered in the deepwater sub-salt basins of the Gulf of Mexico. RTM effectively solves the computationally intensive two-way wave equation problem and is able to accurately handle complex wave-propagation, including multi-bounding waves such as “prism waves”. Use of these complex wave modes helps to image areas with poor direct illumination and further improves steep-dip and event termination/truncation at salt boundaries.

With today’s announcement, TGS now has a complete proprietary depth migration toolbox containing two-way and one-way wave equation, Kirchhoff and beam algorithms. These algorithms are complemented by a full suite of velocity model building processes which include WEM scan, full azimuth tomography and anisotropic parameter estimation tools. The Company’s research and development team continues working on refinements of these methods to increase accuracy and improve cycle times for even the most complex imaging problems.

“The TGS RTM implementation combines the best attributes of one-way wave equation migration’s ability to image events under salt and Kirchhoff migration that can image steeply dipping and even overturned events” said Zhiming Li, Vice President of Imaging Services for TGS.

Robert Hobbs, Chief Operating Officer of TGS, said “This enhanced tool has the promise to add value to TGS’ growing deepwater library as well as to provide our clients state-of-the-art technology to solve their most difficult imaging problems on a contract basis.”

TGS-NOPEC Geophysical Company (TGS) is a principal resource for global geoscientific data products and services in the E&P industry. TGS specializes in the design, acquisition and processing of multi-client seismic surveys worldwide and delivers advanced high performance seismic imaging and software solutions. The Company also provides the world’s largest online well-log database, well data management services, multi-client interpretive products and subsurface consulting services to industry. The suite of integrated exploration data products available from TGS is distinctive and unmatched. The Company philosophy is to create unique high-quality data collected in the right place at the right time.

All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS’ ability to continue to expand markets for licensing of data, and TGS’ ability to acquire and process data products at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS - News).

[10 bagger]

CONTRACTS WORTH NOK 190 MILLION FOR ODIM
Tekst
CONTRACTS WORTH NOK 190 MILLION FOR ODIM

(Hareid - 17 March 2008) A contract covering automated handling systems
for three-dimensional seismic surveying has been awarded to ODIM ASA by
Eidesvik Seismic Vessels.

Worth NOK 190 million, this delivery will be made to the CGG
Veritas/Eidesvik grouping for installation on two seismic ships to be
built at Ulstein Verft in western Norway.

These Ulstein SX120 vessels will be equipped to tow 16 seismic
streamers. The ODIM systems are due to be delivered in the third and
fourth quarters of 2009.

Weve built up good relations with both customer and contractor over a
number of years, says Idar Hatløy, vice president for the seismic
segment at ODIM. He reports that these are sixth and seventh Eidesvik
vessels to be equipped with ODIM equipment where CGG Veritas (formerly
Veritas) is the contractor. ODIM has also delivered several systems to
CGG Veritas earlier.

Further information from:
Øyvind Olsen, executive vice president corporate communication, ODIM
ASA, tel: [phone]
Idar Hatløy, vice present seismic, ODIM ASA, tel: [phone]

About ODIM ASA
ODIM ASA is a fast-expanding Norwegian technology company which develops
and sells advanced automated handling solutions, primarily cable
handling systems and winches for use on offshore and naval vessels. The
company occupies a leading position in selected market segments.
Through its subsidiaries in North America, it is also solidly positioned
in the defence sector.
In addition to its established market segments, ODIM will be making a
heavy commitment to the very promising deepwater market.

[10 bagger]

Production- and Sales Report February 2008
Tekst
This report summarizes production and sales of
crude oil and gas in the PA Resources Group in
Tunisia and Norway during the month of February
2008.

Total production
 Total oil- and gas production in the Group during
February 2008: 353,815 BOE

Crude oil
 Average oil production per day during February
2008: 12,201 barrels per day

 Total oil production during February 2008:
353,815 BOE

 Accumulated oil production January to February
2008: 711,296 BOE

 Oil sales during February 2008: 423,923 BOE
- Here of export sales: 413,659 BOE
- Here of local sales: 10,264 BOE

 Average sales price during February 2008: 94.38
USD per barrel

Gas
 No gas has been produced or sold during February
2008.

Comments
 Oil has been sold at an average sales price of
94.38 USD per barrel, compared with 96.19 USD for
January, 2008.

 Production of oil comes, with the start-up of the
Volve field in Norway, from two geographical areas
and 7 fields.

 The average production for February 2008 was
12,201 barrels per day. In order to install the
drilling rig and start the drilling at the Didon
field in Tunisia, the production has been off for
safety reasons in a total of 3 days. The Volve
field started production the 12th of February. By
this important event, the production increased in
the end of the month and the production level was
approximately 13,752 barrels of oil per day by the
end of February.

 The production regularity on the Didon field in
Tunisia was 98 percent for the period February
2008.

 The drilling program including two wells at Didon
started mid February by spudding the Didon 8 well.
Thereafter, Didon 7 will be drilled followed by an
exploration programme, including possible tieback
opportunities to the Didon.

 The El Bibane field in Tunisia is expected to
start production during the month of March as
forecasted by the Operator Ecumed, a subsidiary of
CANDAX Energy.

Explanations
- BOE = barrels of oil equivalents

Oslo/Stockholm, March 12, 2008
PA Resources AB (publ)

For more information, please contact:
Trond Bjerkan
Vice President, PA Resources AB
Telephone: [phone]
E-mail: [e-mail]

PA Resources AB (publ) is a fast growing oil and
gas group company with the business strategy to
acquire, develop and exploit oil and gas reserves,
as well as explore new findings. The Group operates
in Tunisia, Norway, Great Britain, Denmark,
Netherlands, Equatorial Guinea and the Republic of
Congo (Brazzaville). PA Resources is today one of
the largest oil producers in Tunisia. The parent
company is located in Stockholm, Sweden.
PA Resources AB`s net sales amounted to
approximately SEK 2,751 Million during 2007. The
company is primary listed on the Oslo Stock
Exchange in Norway (segment OB Match) and secondary
listed on the OMX Nordic Exchange in Stockholm,
Sweden (segment MidCap). For additional
information, please visit www.paresources.se.

[10 bagger]

SDRL - Seadrill reports fourth quarter and preliminary 2007 results

HAMILTON, BERMUDA--(MARKET WIRE)--Feb 27, 2008 --

Highlights

-- Seadrill reports net income of US$222.5 million and earnings per
share of US$0.56 for the fourth quarter of 2007
-- Seadrill mainly on track for newbuild program deliveries
-- Seadrill takes successful delivery of jack-up rig West Triton
-- Seadrill secures new three-year contract for jack-up rig West Janus
-- Seadrill successfully issue US$1 billion convertible bond
-- Seadrill orders new self-erecting tender rig T12 for US$121 million,
with option for one additional unit
-- Seadrill resolves to distribute dividend of US$0.25 per share
ADVERTISEMENT



Preliminary results 2007

Seadrill today reports preliminary consolidated revenues for 2007 of US$1,676.4 million as compared to revenues of US$1,154.6 million in the 2006 accounts. The increase in revenues mainly reflects start-up of new shallow water units as well as higher average dayrates for the Company fleet. Operating profit for the full year amounted to US$488.9 million as compared to US$226.1 million in the 2006 accounts. Included in the operating profit in 2007 were gains from sale of two FPSO units amounting to approximately US$130 million. Net financial items were US$102.1 million. Net income was US$465.5 million as compared to US$214.1 million in the 2006 accounts.

Fourth quarter 2007 results

Consolidated revenues for the fourth quarter 2007 amounted to US$446.1 million as compared to US$377.1 million for the preceding quarter. The increase in revenues mainly reflects higher activity in all three divisions. Operating profit for the fourth quarter was US$110.3 million as compared to US$96.2 million in the third quarter.

Operating profit from the Mobile units amounted to US$71.5 million as compared to an operating profit of US$58.8 million in the third quarter. The increase was mainly due to a full quarter in operations for the new jack-up West Atlas as well as West Larissa resuming operations. The improvement was partly offset by 45 days out of operations for the deepwater drillship West Navigator.

Operating profit from the Tender rigs amounted to US$26.6 million as compared to US$25.6 million in the third quarter. Operating profit from Well services amounted to US$12.2 million as compared to US$11.9 million in the third quarter.

Net financial items for the fourth quarter resulted in a net expense of US$4.2 million as compared to an expense of US$54.3 million in the third quarter.

Income before income taxes amounted to US$106.1 million.

Income taxes were US$71.6 million in income. The tax income is in the main related to restatement of deferred tax liabilities.

Net income for the quarter amounted to US$222.5 million.


For further information, please see the fourth quarter and preliminary results 2007 report attached. (http://hugin.info/135817/R/1195866/242761.pdf)



Copyright © Hugin AS 2008. All rights reserved.

[10 bagger]

DNO.ol,, DTNOF.ol..

DNO International ASA - Fourth quarter and full year 2007

DNO International ASA (OSE:DNO), today announced its interim results
for the fourth quarter 2007 and preliminary financial results for the
full year of 2007.


DNO reported operating revenues of NOK 365 million in the fourth
quarter 2007, compared to NOK 247 million in the corresponding period
last year. The increase is due to increased production and higher oil
prices for the period. For the full year 2007, DNO`s sales increased
by 11 percent to NOK 1 320 million.

- During the last three months of 2007 we have delivered important
operational results in Kurdistan. Re-testing of the Tawke-1 discovery
well turned this well into the best producer to date and we revised
the Tawke gross reserves by 130 percent. In addition we have
re-commenced exploration activities in other areas of the PSAs in
Kurdistan said Helge Eide, Managing Director of DNO.

- In Yemen new wells were brought on stream and our annual production
from that region was in line with our target for the year. In Norway
we have completed the integration agreement between our former
Norwegian subsidiary, NOIL Energy ASA and the former Pertra ASA,
literarily forming the second largest Norwegian E&P company on the
NCS - under the name of Det norske oljeselskap ASA.

Profit from operations increased by five percent from NOK 62 million
in the fourth quarter 2006 to NOK 65 million in the fourth quarter
this year. Non-cash depreciation charges increased by NOK 50 million
in the quarter mainly due to reserve revisions on the Nabrajah field
in Yemen. For the full year 2007, profit from operations increased by
7 percent to NOK 492 million.

During the fourth quarter pre-tax expensed exploration costs
increased to NOK 100 million from NOK 89 million in the fourth
quarter last year. Corresponding figures for the 12-month period was
NOK 264 million in 2007 and NOK 340 million in 2006

DNO ASA reported a netback of NOK 143 million in the fourth quarter
compared to NOK 76 million in the same period in 2006. For the full
year, netback increased to NOK 670 million from NOK 420 million in
2006.

The fourth quarter net profit amounted to NOK 829 million, compared
to a loss of NOK 31 million in the fourth quarter last year. The NOIL
Energy ASA restructuring contributed NOK 871 million in net profit
for the quarter and also provided a strong increase in the Group
equity. Net profit increased to NOK 1 006 million for the 12 months
period, up from NOK 61 million in 2006.

In the period the company had a net increase in cash leading to a
2007 year end closing cash position of NOK 750 million.

Earnings per share were NOK 0.94 in the fourth quarter 2007 and NOK
1.14 for the full year. This compares to NOK -0.04 in the fourth
quarter 2006 and NOK 0.07 for the full year 2006, on both a basic and
diluted basis.

- We are pleased with our key operational achievements in 2007. Both
the Company`s P50 reserves and resources as well the production to
the Company increased during the last six months of the year. In 2008
DNO is targeting a substantial resource potential through en
extensive exploration program and a step change in production could
be achieved once export permit is in place in Kurdistan, says Helge
Eide.

For more information, please see the attachments on www.newsweb.no

DNO ASA will give a presentation of the interim financial statements
for the fourth quarter and the preliminary financial results for the
full year of 2007.

The presentation will be held at 10:00 A.M. on Wednesday 15 February,
2008 in the `Lille Sal` at Oslo Konserthus, Munkedamsveien 14.

The presentation can also be followed live on the internet, via a
video webcast at www.dno.no or at www.oslobors.no/webcast. An
archived version of the webcast will be posted on www.dno.no shortly
after the presentation. The presentation will be given in English.

For more information, please contact;

Media contacts:

Helge Eide, Managing Director, DNO ASA [phone]
Ketil Jørgensen, Crux Kommunikasjon (Norway) [phone]
Ben Willey, Buchanan Communications (UK) [phone]
Nick Melson, Buchanan Communications (UK) [phone]


Investor Relations contacts:

Haakon Sandborg, CFO, DNO ASA [phone]
Robert Arnott, Advisor (UK) [phone]



Notes to the Editors:
DNO International ASA (`DNO`) is an independent E & P company engaged
in the acquisition, exploration, development and operation of oil and
natural gas properties. The company`s head office is in Oslo, Norway,
with worldwide activities. DNO serves as operator or active license
partner in several production and exploration assets, and our current
assets are in UK, Yemen, and the Kurdish region of Northern Iraq as
well as Equatorial Guinea, Mozambique and Syria.

Please visit DNO Internationals new corporate website on www.dno.no
for more information about the company and its operation. The website
also includes an online media center where visitors can download
images from our production sites as well as photos of our management

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian

[10 bagger]

Year-End Report 2007: PA Resources net profit 947 MSEK - reserves increased 14 percent
Tekst
Summary January 1st - December 31st 2007
- Group revenue from sales of crude oil during 2007
increased by 226 percent to SEK 2,751.1 million
(843.4). A total of 4,571,000 (2,012,000) barrels
of oil was sold at an average price of 71.50
USD/barrel (66.63).

- Profit increased to SEK 947.1 million (230.5).

- Earnings per share before dilution amounted to
SEK 6.53 (1.67) and earnings per share after
dilution amounted to SEK 6.47 (1.67).

- Operating cash flow for the period January -
December 2007 amounted to SEK 1,226.9 million
(185.8).

- A total of 5,509,000 (1,957,000) barrels of oil
was produced during 2007. Average production
amounted to 15,093 (5,362) barrels per day.

- PA Resources` reserves as at December 31st 2007
have increased to 120.6 million barrels of oil
equivalents (106.1).

Summary 4th quarter, 2007
- Group revenue for fourth quarter increased by 334
percent to SEK 734.2 million (169.1). Sales
amounted to 1,117,000 (433,000) barrels of oil, at
an average price of 85.48 USD per barrel.

- Profit increased to SEK 261.5 million (86.2).

- Earnings per share before dilution amounted to
SEK 1.80 (0.61) and earnings per share after
dilution amounted to SEK 1.79 (0.61).

- Average production during the 4th quarter
amounted to 15,066 (4,696) barrels of oil per day.

- In Equatorial Guinea, several considerable
discoveries of oil and gas have been made in the
very prospective Block I, where all the drilled
wells have made discoveries.

- PA Resources has signed an agreement regarding
acquisition of shares in an exploration license
with an oil field under development in the Republic
of Congo. Production on the oil field is expected
to start during 2009.

- An agreement regarding acquisition of a British
company with assets in the Great Britain and
Denmark has also been signed.

Comments from Ulrik Jansson, President and CEO at
PA Resources:
- The year 2007 has been an important year for us,
as we have established the group as a major player
at the oil market. The production has reached new
levels thanks to the Didon field In Tunisia, and
this, together with a high oil price, has lead to a
strong financial result for PA Resources.

Stockholm, 2008-02-13
PA Resources AB

(For the complete Interim Report, see the attached
file)

For more information, please contact:
Ulrik Jansson
President and CEO, PA Resources AB
Mobile [phone]
E-mail: [e-mail]

or

Bo Askvik
CFO, PA Resources AB
Mobile [phone]
E-mail: [e-mail]


Invitation to Q4-presentation
PA Resources AB invites to a presentation of the
year-end result for the period 1st of January to
the 31th of December 2007, including the fourth
quarter. The capital market meeting will take place
on Wednesday, the 13th of February 2008, at 09.00
(CET) at Thon Hotel Vika Atrium Konferansesenter,
Munkedamsveien 45, in Oslo, Norway. The
presentation is also broadcasted as web cast over
the company`s web site www.paresources.se. For more
information, see the invitation on the web site.


PA Resources AB (publ) is a fast growing oil and
gas group company with the business strategy to
acquire, develop and exploit oil and gas reserves,
as well as explore new findings. The Group operates
in Tunisia, Norway, Great Britain, Denmark,
Netherlands, Equatorial Guinea and the Republic of
Congo (Brazzaville). PA Resources is today one of
the largest oil producers in Tunisia. The parent
company is located in Stockholm, Sweden.

PA Resources AB`s net sales amounted to
approximately SEK 2,751 Million during 2007. The
company is primary listed on the Oslo Stock
Exchange in Norway (segment OB Match) and secondary
listed on the OMX Nordic Exchange in Stockholm,
Sweden (segment MidCap). For additional
information, please visit www.paresources.se.

[10 bagger]

Production- and Sales Report January 2008
Tekst
This report summarizes production and sales of
crude oil and gas in the PA Resources Group during
month of January 2008.

Total production
 Total oil- and gas production in the Group during
January 2008: 357,500 BOE

Crude oil
 Average oil production per day during January
2008: 11,532 barrels per day

 Total oil production during January 2008: 357,500
BOE

 Accumulated oil production January 2008: 357,500
BOE

 Oil sales during January 2008: 420,000 BOE
- Here of export sales: 420,000 BOE
- Here of local sales: 0 BOE

 Average sales price during January 2008: 96.19
USD per barrel

Gas
 No gas has been produced or sold during January
2008.

Comments
 Oil has been sold at record high average sales
price of 96.19 USD per barrel, to be compared with
85.48 USD for Q4, 2007.

 The average production for January 2008 was
11,532 barrels per day. The subsea well reported to
be shut-in due to repair of the control line has
been put back in production on the Didon field in
week 4. Thanks to this the production increased in
the end of the month and the production level was
approximately 13,150 barrels of oil per day by the
end of January.

 The production regularity on the Didon field in
Tunisia was 100 percent for the period January 2008.

 Two new wells will be drilled at the Didon field
during the first half of 2008. Thereafter, an
exploration programme will start, including
possible tieback opportunities to the Didon.

 The Volve field in Norway started production of
oil and gas on February 12, 2008.

Explanations
- BOE = barrels of oil equivalents

Oslo/Stockholm, February 13, 2008
PA Resources AB (publ)

For more information, please contact:
Trond Bjerkan
Vice President, PA Resources AB
Telephone: [phone] or [phone]
E-mail: [e-mail]


PA Resources AB (publ) is a fast growing oil and
gas group company with the business strategy to
acquire, develop and exploit oil and gas reserves,
as well as explore new findings. The Group operates
in Tunisia, Norway, Great Britain, Denmark,
Netherlands, Equatorial Guinea and the Republic of
Congo (Brazzaville). PA Resources is today one of
the largest oil producers in Tunisia. The parent
company is located in Stockholm, Sweden.

PA Resources AB`s net sales amounted to
approximately SEK 2,751 Million during 2007. The
company is primary listed on the Oslo Stock
Exchange in Norway (segment OB Match) and secondary
listed on the OMX Nordic Exchange in Stockholm,
Sweden (segment MidCap). For additional
information, please visit www.paresources.se.

[10 bagger]

ODIM.ol

OFFSHORE SUPPLY ORDER WORTH NOK 50 MILLION

(Hareid, 13 February 2008) ODIM has been awarded a
contract worth just over NOK 50 million to deliver
automated handling systems for two anchor handling
tug supply vessels (AHTS). These vessels are to be
built at Aker Yards in Aukra, western Norway, for
the DOF shipping company. Delivery is scheduled
from the first quarter of 2009 to the third quarter
of 2010.

Two sets of ODIM AHF anchor handling frames account
for a substantial part of the contract. They
represent a unique solution which contributes to
safer and more efficient anchorhandling operations.
Among other benefits, the ODIM AHF reduces maximum
loads by more than 50 per cent when rig anchors are
being pulled over the stern roller. The yard has a
cancel term until the end of 2008 for the ODIM
AHF on the last vessel.

The order also embraces two sets of ODIM`s
integrated shark jaw and towing pins, which are
designed to both handle and lock chain and wire
cables during anchorhandling operations.

Controlled from the bridge, the automated handling
systems simplify and enhance the efficiency of
working on the aft deck of an AHTS ship, while
improving the safety of such activities. ODIM is
working on a number of unique and complete
solutions which meet demands for enhanced safety of
crew and materials, greater efficiency and higher
utilisation of offshore service vessels.

`New and stricter safety standards are being set by
the oil companies for offshore service vessels,`
observes Jon Olav Kopperstad, vice president for
offshore supply at ODIM. `That necessitates the
development of new handling solutions where the
most hazardous operations can be remotely
controlled and automated.` `We were an early
provider of such systems, and are very confident
that our solutions will also be chosen for
tomorrow`s vessels.`

For further information:

Øyvind Olsen, senior vice president,
communications, ODIM ASA, mobile [phone]
Jon Olav Kopperstad, Vice President, Offshore
Supply, mobile: [phone]

About ODIM ASA
ODIM ASA is a fast-expanding Norwegian technology
company which develops and sells advanced automated
handling solutions, primarily cable handling
systems and winches for use on offshore and naval
vessels. The company occupies a leading position in
selected market segments.
Through its subsidiaries in North America, it is
also solidly positioned in the defence sector.
In addition to its established market segments,
ODIM will be making a heavy commitment to the very
promising deepwater market.
Les om ansvar og rettigheter

[10 bagger]

Acergy S.A. announces $150 million deepwater contract award in Australia
Tekst
London, England - February 13, 2008 - Acergy S.A.
(NASDAQ NM: ACGY; Oslo Stock Exchange: ACY)
announced today the award of a $150 million
contract from Woodside for offshore installation
work on the Pluto LNG Project North West of
Karratha, Western Australia.

The contract includes the installation of subsea
manifolds, valve structures, umbilicals, a mono-
ethylene glycol injection line and pipeline
stabilisation as well as the tie-in of flowlines
in water depths of up to 850 metres. Engineering
work started in April 2007, on receipt of the
letter of intent, with offshore installation by
the Toisa Proteus scheduled to commence in the
second half of 2009.

Jeff Champion, Vice President Acergy Asia and
Middle East said, `The Pluto contract award
further solidifies our position in Australia and
continues to build upon the strong relationship we
have with Woodside. We are proud to be part of
such a major project as Pluto which will
significantly increase Australia`s supply of LNG
and boost the Western Australian economy. This
award also validates our strategy to invest
significantly in people and assets and dedicate a
best in class, deepwater heavy construction vessel
to the region.`

***************************************************
Acergy S.A. is a seabed-to-surface engineering and
construction contractor for the offshore oil and
gas industry worldwide. We plan, design and
deliver complex, integrated projects in harsh and
challenging environments. We operate
internationally as one group - globally aware and
locally sensitive, sharing our expertise and
experience to create innovative solutions. We are
more than solution providers, we are solution
partners - ready to make long-term investments in
our people, assets, know-how and relationships in
support of our clients.
***************************************************

Contact:

Karen Menzel
Acergy S.A.
[phone]
[e-mail]

www.acergy-group.com

[10 bagger]

Acergy S.A. $195 million contract award in Canada

London, England - February 13, 2008 - Acergy S.A.
(NASDAQ NM: ACGY; Oslo Stock Exchange: ACY)
announced today the award of a $195 million EPIC
contract from EnCana Corporation for offshore
installation SURF work on the Deep Panuke field
located offshore Halifax, Nova Scotia, Canada.

The contract is for the installation, burial and
tie in of circa 17km of 8` infield flowlines and
umbilicals to four production wells as well as an
acid gas disposal flowline, connecting to a
centrally located Floating Production Unit.
Offshore installation by the Acergy Falcon and the
Acergy Discovery is scheduled to commence during
the second quarter of 2010.

Øyvind Mikaelsen, Vice President Acergy Northern
Europe and Canada, said, `As a leading seabed to
surface engineering and offshore construction
company with a strong record globally, we are
delighted to have won such a prestigious contract.

`It is an honour to have been chosen by EnCana
Corporation to work on Deep Panuke. Acergy will
deliver engineering skills, on-the-ground
expertise and support from our expanding Canadian
offices in Eastern Canada including Halifax, Nova
Scotia and St. John`s, Newfoundland.

`The award of this contract marks the latest
chapter in the success of our Canadian operations
which are an integral part of Acergy`s Northern
Europe and Canada Region, and we look forward to
strengthening our relationship with EnCana
Corporation in the future.`

***************************************************
Acergy S.A. is a seabed-to-surface engineering and
construction contractor for the offshore oil and
gas industry worldwide. We plan, design and
deliver complex, integrated projects in harsh and
challenging environments. We operate
internationally as one group - globally aware and
locally sensitive, sharing our expertise and
experience to create innovative solutions. We are
more than solution providers, we are solution
partners - ready to make long-term investments in
our people, assets, know-how and relationships in
support of our clients.
***************************************************

Contact:

Karen Menzel
Acergy S.A.
[phone]
[e-mail]

www.acergy-group.com

[10 bagger]

Acergy.. ACY.ol On hold until 05/01/08

Qtr.earnings: New contracts awarded...
http://www.newsweb.no/newsweb/atmnt/Feb.13.08_Q4+07_FINAL.pdf?id=50960


Acergy S.A. is a seabed-to-surface engineering and construction contractor for the offshore oil and gas industry worldwide. We plan, design and deliver complex, integrated projects in harsh and challenging environments. We operate internationally as one group, creating innovative solutions.

PR Releases and charts...
http://www.oslobors.no/ob/aksje_kursutvikling?menu2show=1.1.2.1.&p_instrid=ticker.ose.ACY

Reason for my hold...

SURF projects, especially in West Africa which are experiencing delays, are now expected to move closer to award. Acergy anticipates material backlog growth in the months ahead, with medium to long term market trends expected to remain strong. Clarity of future revenues and the activity level in 2008 and 2009 will become evident as some of the major contracts are awarded. New contracts were awarded during the November 2007 Qtr.. but is there a follow thru to earning built in...??? hank

[10 bagger]

PAR.ol,, PRSAF.pk

Drilling of sidetrack completed on the Oselvar discovery

The drilling of a sidetrack to the appraisal well
1/3-10 on the Oselvar discovery in Norway has now
been completed by the operator. A plan for the
development and operation of Oselvar will be
submitted to the Norwegian authorities during 2008.
PA Resources has a 30 percent interest in the
license.

The operator DONG E&P Norge has completed the
drilling of a sidetrack to the appraisal well 1/3-
10 at the Oselvar discovery at production license
274 (PL 274) in the southern part of the North Sea.

The drilling was carried out with the drilling
facility Mærsk Guardian at a water depth of 72
meters. The well was drilled in order to
investigate the underlying water zone and to
improve delineation of the Oselvar discovery. The
pressure was measured and water samples were
acquired from the water zone below the already
proven oil/condensate column. This work has now
been accomplished and the data acquisition is
finished.

The sidetrack was drilled totally 3 632 meters and
is terminated in deposits of early Palaeocene age,
in a position 680 meters southwest of the well 1/3-
10. Preliminary calculations of the reservoir
parameters in the sidetrack correspond with the
results from the well 1/3-10, while the reservoir
thickness penetrated was slightly less than
anticipated.

The wells show that the size of the total discovery
is approximately 2-6 million standard cubic meters
(Sm3) producible oil/condensate and 2-4 billion Sm3
producible gas, which are equivalent to 12-38
million barrels of oil equivalents oil/condensate
and 12-25 million barrels of oil equivalents gas.

The results from the wells are encouraging with
respect to a future development of the Oselvar
discovery. The operator and the partners in the
license expect to submit a plan for development and
operation of Oselvar during 2008.

The well will now be permanently plugged and
abandoned. The drilling facility Mærsk Guardian is
now ready for transfer to another operator, but
will return later during 2008 to drill an
exploration well on the Ipswich prospect, also
located in PL 274.

The licensees in PL 274 are the operator DONG E&P
Norge AS (40 percent), PA Resources Norway AS (30
percent), NORECO (15 percent) and Revus Energy AS
(15 percent).

Stockholm/Oslo, February 8, 2008
PA Resources AB (publ)

For more information, please contact:
Ulrik Jansson
President and CEO, PA Resources AB
Telephone: [phone]
E-mail: [e-mail]

or

Trond Bjerkan
Vice President, PA Resources AB and
President, PA Resources Norway AS
Telephone: [phone]
E-mail: [e-mail]


PA Resources AB (publ) is a fast growing oil and
gas group company with the business strategy to
acquire, develop and exploit oil and gas reserves,
as well as explore new findings. The Group operates
in Tunisia, Norway, Great Britain, Denmark, the
Netherlands, Equatorial Guinea and the Republic of
Congo (Brazzaville). PA Resources is today one of
the largest oil producers in Tunisia. The parent
company is located in Stockholm, Sweden.

PA Resources AB`s net sales amounted to
approximately SEK 843 Million during 2006. The
company is primary listed on the Oslo Stock
Exchange in Norway (segment OB Match) and secondary
listed on the OMX Nordic Exchange in Stockholm,
Sweden (segment MidCap). For additional
information, please visit www.paresources.se.
Read our disclaimer and copyright notice

[10 bagger]

RXT.ol

- Major contract award in the Gulf of Mexico

The seismic company Reservoir Exploration
Technology ASA (RXT) has been awarded a contract
for acquisition of multi-component seismic data
for TGS-NOPEC Geophysical Company ASA in the Gulf
of Mexico (GOM).

The survey is planned to start in March 2008
with `RXT1`, and the duration is estimated to be
around 200 days.

RXT1 has been in continuous operation in the GOM
since operations commenced in 3rd quarter 2004,
and has acquired a major program for TGS in the
region previously.

- This contract further validates our projection
that this operation will continue to operate long
term in the GOM area, CEO of RXT, Michael Scott,
comments.


For further information, please contact CFO Odd
Erik Rudshaug in RXT.
Cell: + 47 41612858


About RXT:
Reservoir Exploration Technology ASA (RXT) is a
marine geophysical company specializing in multi
component seismic sea-floor acquisition. Multi
component seismic solves several imaging
challenges that cannot be resolved with towed
streamer seismic, and targets improved oil
recovery from existing fields. The technology also
gives better data quality for exploration, and is
also the solution where towed streamers are
impractical due to high density of platforms and/
or shallow waters. The Company has offices in
Oslo, London and Houston. RXT is listed on the
stock exchange in Norway (OSE ticker: RXT).

URL: http://www.rxt.com/

[10 bagger]

SIOFF.ol,, SOFHF..

Increase of Brazilian Fleet

Siem Consub SA, a 100% owned subsidiary of Siem Offshore Inc, has entered into an agreement with Petrobras, the major Brazilian Oil & Gas company, to built two Fast Supply Vessels for 8 + 8 years time charter contracts. The accumulated contract value for the two vessels is approximately USD 45
million for the firm period, and both vessels shall commence operation in first quarter of 2010. The vessels are to be built at yards in Brazil.

The vessels are of GPA150 FSV design and are able to cruise at 28 knots to attend the expansion of very deep water oilfields offshore Brazil.

Siem Consub SA has currently a fleet of 10 vessels in operation with Petrobras as its main client. The company, which has more than 20 years experience from offshore services in Brazil and
work for Petrobras, has been awarded with the Petrobras gold medal for excellent HSEQ performance for the years 2004, 2005, 2006 and 2007 among 34 companies that provide such services.

The new long-term contracts with Petrobras will represent a renewal of the Siem Consub fleet, and we regard these contracts as a confirmation of Siem Consub`s excellence in operation. We consider that Siem Offshore is well positioned to support the
expected increase in demand for offshore support vessels in Brazilian waters with its local presence and Siem Offshore`s controlled fleet of a total 43 vessels, of which 19 are under construction.


For further information:
Terje Sørensen
CEO of Siem Offshore Inc
Phone [phone]

[10 bagger]

SUB.ol,, SBEAF.pk,, Earnings...

http://www.oslobors.no/ob/aksje_kursutvikling?menu2show=1.1.2.1.&p_instrid=ticker.ose.SUB

SUB.ol,, SBEAF.pk...

Market Outlook:

The market outlook remains strong with a high level of tendering continuing. Activity in the North Sea looks positive with strong demand in Norway being complimented by an increase in field developments in the UK sector following a recovery in gas prices.

The anticipated African projects are beginning to be awarded, with further announcements expected through the first
two quarters of 2008. These project awards will underpin a strong market through to 2012.

Expectations of market growth in Brazil are likely to be exceeded, with high levels of pipelay demand already evident
and likely to be fuelled by the recent major discoveries.
An increasing number of deepwater tie-back projects in the Gulf of Mexico will provide further opportunities for growth in the region.

The long term outlook for Asia Pacific remains positive, although significant growth is not expected until 2010.

[10 bagger]

PAR.ol.. PARSF.pk

PA Resources expands into the Netherlands....

The oil- and gas group PA Resources has been
awarded shares in an exploration license in Block
Q/7 offshore the Netherlands.

http://www.newsweb.no/newsweb/atmnt/PAR_Release_License+Award+Netherlands_080201_eng_slutlig.pdf?id=50565

PA Resources AB` wholly owned UK subsidiary Scotsdale Petroleum has been awarded an exploration licence offshore the Netherlands. The company will hold a 50 percent working interest in Block Q/7. Smart Energy Solutions owns the remaining 50 percent, and is the operator of the license.

- This award represents PA Resources` first venture in the Netherlands, an area which has a significant remaining potential, and where we intend to continue to evaluate new opportunities, says Ulrik Jansson, President and CEO at PA Resources.

Block Q/7, which covers approximately 400 square kilometres, includes the Q/7-1 gas discovery, which is estimated to contain between 20 and 40 billion cubic feet of recoverable gas (equivalent to 3.5 - 7.0 million barrels of oil equivalents). The well was drilled by NAM in 1973. It tested 11.5 million
cubic standard feet per day (equivalent to 2,000 barrels of oil equivalents) from a 155 feet (35 meters) interval in the Lower Zechstein carbonate sequence. The gas tested from the Zechstein is of high quality, containing only small amounts of inert gas and no hydrogen sulphide. Gas was also encountered in the underlying Rotliegend sand formation.

In addition to the gas accumulation in the block, a number of undrilled leads at potential reservoir horizons have been mapped, and will be further evaluated. The work programme for the near future includes reprocessing of the existing seismic data base and remapping of the acreage.

Smart Energy Solutions BV is a company registered in Amsterdam in the Netherlands, with its main office in The Coengebouw. Its objectives are to acquire and develop small to medium size oil and gas fields, using state-of-the-art technology in
combination with decentralised electricity production and using the power matching principle.
Moreover SES is specialised in CNG production
(compressed natural gas).

Stockholm, February 1, 2008
PA Resources AB (publ)


For more information, please contact:
Ulrik Jansson
President and CEO, PA Resources AB
Telephone: [phone]
E-mail: [e-mail]


PA Resources AB (publ) is a fast growing oil and gas group company with the business strategy to acquire, develop and exploit oil and gas reserves, as well as explore new findings.

The Group operates in Tunisia, Norway, Great Britain, Denmark,
Netherlands, Equatorial Guinea and the Republic of Congo (Brazzaville). PA Resources is today one of the largest oil producers in Tunisia. The parent company is located in Stockholm, Sweden.

PA Resources AB`s net sales amounted to approximately SEK 843 Million during 2006. The company is primary listed on the Oslo Stock Exchange in Norway (segment OB Match) and secondary
listed on the OMX Nordic Exchange in Stockholm, Sweden (segment MidCap).
For additional
information, please visit www.paresources.se.

[10 bagger]

PGS - Q4 earnings update

Again onshore and shallow services competition are hurting EPS..

January 31, 2008: Oslo, Norway, Petroleum Geo-Services ASA (`PGS` or
the `Company`) announced today that it expects to report weaker
results for its Onshore operations in Q4 than earlier indicated, due
to weak crew continuity in Libya. The consolidated numbers will also
be negatively impacted by substantially higher operating cost in the
Marine segment than in the three previous quarters of the year caused
by extensive yard stays, as communicated earlier.

Other developments are largely in line with previous guidance to the
market.
Reference is made to the Company`s report on updated Q4 vessel
utilization and the announcement of Marine contract EBIT margin for
the year to be marginally below 50%. This implies a temporary dip in
the Marine contract revenues to around USD 155 million in Q4, which
corresponds to Q3 revenue level adjusted for the reported capacity
changes. Multi-client revenues in the quarter are the strongest ever.

Further, the Company has previously commented that the financial
impact of its EM subsidiary MTEM was expected to be around the same
level as for Q3, and expects MTEM to report a negative Adjusted
EBITDA[1] of USD 6 million in Q4.

Based on management`s preliminary review of financial performance,
the Company expects to report Q4 2007 consolidated Adjusted EBITDA1
of around USD 165 million.

The Company`s guidance for 2008 remains unchanged.

The Company is still in the process of completing and reviewing its
financial reporting for the quarter and year ended December 31, 2007
and the audit of these financial statements have not been completed.
The numbers are subject to change.

The Company is scheduled to report it`s unaudited fourth quarter 2007
results under IFRS on Thursday February 21, 2008 at approximately
8:00am CET.

****
Petroleum Geo-Services is a focused geophysical company providing a
broad range of seismic and reservoir services, including acquisition,
processing, interpretation, and field evaluation. The company also
possesses the world`s most extensive multi-client data library. PGS
operates on a worldwide basis with headquarters at Lysaker, Norway.
For more information on Petroleum Geo-Services visit www.pgs.com.

****

The information included herein contains certain forward-looking
statements that address activities, events or developments that the
Company expects, projects, believes or anticipates will or may occur
in the future. These statements are based on various assumptions made
by the Company, which are beyond its control and are subject to
certain additional risks and uncertainties as disclosed by the
Company in its Annual Report on Form 20-F for the year ended December
31, 2006, as filed with the U.S. Securities and Exchange Commission.
As a result of these factors, actual events may differ materially
from those indicated in or implied by such forward-looking
statements.

[10 bagger]

TGSNF.pk,, TGS.ol

Asker, Norway, January 28th 2008) Asker and Bærum
District Court today ruled in favour of TGS-NOPEC
Geophysical Company ASA (TGS) in the injunction
case initiated by Wavefield Inseis ASA (Wavefield).
The temporary injunction dated November 21st 2007
has consequently been revoked. The court considers
it unlikely that TGS will violate the procedures
agreed upon in the merger plan. Wavefield`s loss
means that Wavefield will have to reimburse TGS`
legal expenses.

- We are very pleased with Asker and Bærum District
Court`s decision to acquit TGS and lift the
temporary injunction. We also note that the Court
sees no reason to disbelieve TGS` determination to
continue to act in accordance with the approved
merger plan. This merger plan states that any
disagreements between the parties are to be
resolved trough a Norwegian arbitration panel of
judges. The arbitration process will now continue
but obviously the Court`s decision will strengthen
our case, says Hank Hamilton, CEO of TGS.

In a decision dated November 21st 2007, Asker and
Bærum District Court decided to accommodate
Wavefield`s request for an injunction to
preliminarily prevent the completion of the
previously agreed upon merger. This was an
unnecessary step taken by Wavefield without TGS`
knowledge, regardless of the fact that TGS had
consistently communicated to Wavefield that they
would comply with the agreement.

- This has been yet another sidetrack from our
agreed upon merger plan. TGS will continue to
honour the merger plan and go on with the process
to let the case be tried before a panel of
Norwegian judges in the arbitration, Hamilton says.

For additional information about this news release
please contact:
Arne Helland
Chief Financial Officer
Tel: [phone]
Email: arne.helland@tgsnopec.

[10 bagger]

A reason to own ELMRF.pk,, EON.ol,, PRSEF.pk,, SBEAF.pk,, SOFHF.pk,, SVMRF.pk,, TGSNF.pk... hank

"The Eastern Hemisphere has suffered from limited investment during the past two decades which argues for sustained spending growth in this market," said James West, an analyst with Lehman Brothers in a note to clients.

"The major oils and in particular the national oil companies all have aggressive drilling plans in the relatively early stages in these areas. We believe that the oil service companies with the best relationships and infrastructure in these regions will benefit disproportionately from this growth," he added.


Smaller U.S. oil services could look at emerging mkts for growth
Reuters - January 25, 2008 5:38 AM ET

By Nachiket Kelkar

BANGALORE, Jan 25 (Reuters) - Smaller companies in the U.S. oil services sector will need to start looking internationally at possible acquisitions of their overseas counterparts to combat a slower North American market, fierce competition and higher overhead costs, analysts say.

Many small players will need to capitalize off growth in international markets, especially hot regions like the Middle East and Asia to escape the slowdown in local markets.

As sluggish regional natural gas prices forced companies to shut in production and stop drilling new wells that lead to the excess capacity in North America, smaller players have suffered.

Companies like RPC Inc (RES), Nabors (NBR) and Basic Energy Services (BAS) have reported declines in profit and analysts believe they need to pull off deals in order to grow.

"The major problem for the small companies is that they have very little international exposure, which is where the integrated, larger companies are experiencing most of their growth," said Curtis Trimble, an analyst at Natixis Bleichroeder.

Bigger companies such as Baker Hughes (BHI) and Halliburton (HAL), which were also hurt by the slowdown in the North American markets, continue to post profit growth helped by their activities internationally.

Wachovia's Brad Handler said companies with a greater international exposure will deliver more revenue and earnings growth.

On Wednesday, RPC Inc, which supplies oil field services and equipment including pressure pumping services, posted a 21.4 percent drop in its net profit.

"Increased competition, causing lower pricing for our services, and higher costs for labor and materials, all of which cannot be passed through to customers, continue to have a negative impact on our financial results," RPC's Chief Executive, Richard Hubbell, said in a statement.

Morgan Keegan analyst Mike Drickamer said the company could benefit from greater exposure to the more stable international markets, where there is less concern about the oversupply of equipment.

RPC's rivals have also struggled, with Nabors Industries Inc, a land drilling contractor reporting a 26 percent drop in third-quarter profits, while Basic Energy's profit fell 10 percent.

WHERE NEXT?

As the U.S. oil services companies look outwards for expansion, companies in the Middle East, Russia, Central and even South Asia could be a target.

"The Eastern Hemisphere has suffered from limited investment during the past two decades which argues for sustained spending growth in this market," said James West, an analyst with Lehman Brothers in a note to clients.

"The major oils and in particular the national oil companies all have aggressive drilling plans in the relatively early stages in these areas. We believe that the oil service companies with the best relationships and infrastructure in these regions will benefit disproportionately from this growth," he added.

The U.S. is largely a cyclical market and international acquisitions will diversify their exposure.

Small oil-field services companies are looking at emerging economies for acquisitions as these markets are poised for several years of growth, said Handler.

Handler views Russia and Middle East as attractive regions, but says some companies may also be looking towards Latin America as a good investment destination.

"There's lot of money flowing around and a lot of new assets out there that are highly desirable, also there are emerging companies in other parts of the world that would have an interest in these assets as well," said Jefferies & Co analyst Judson Bailey.

LOOKING AHEAD

Global spending on exploration and production by oil and natural gas companies is expected to rise more than 11 percent to $369 billion in 2008, fuelled by investment outside North America, according to a survey by Lehman Brothers.

Spending outside North America is seen increasing 16 percent in 2008 to $267 billion, according to the twice-yearly survey of 344 energy companies.

However, in the United States, exploration and production spending is seen rising a modest 3.5 percent to $81 billion due to uncertainty about natural gas prices, the survey said.

The trend could likely be reversed as companies could retire some of their older, less efficient equipment to cut the low equipment utilization and tackle excess capacity in the sector, said Natixis' Trimble.

But Wachovia's Handler is not optimistic of a turnaround in the United States, especially the shallow waters of Gulf of Mexico and said the gas market would not be robust enough to support it.

He would continue to look for a flattish U.S. oilfield services sector in 2008 given the uncertainties over gas prices and uncertainty over activity.

This increases the need for the smaller U.S. oil services companies to expand their global footprint, if they want to become profitable and want to realise the benefits of the record high oil prices. (Editing by Jarshad Kakkrakandy)

[10 bagger]

ELMRF.pk,, EGMS.ol...

Trondheim, 24 January 2008:

Electromagnetic Geoservices (EMGS) announced today that it will
perform an extensive multiclient electromagnetic (EM) scanning survey to search for commercial hydrocarbon deposits in the Krishna-Godavari basin, ahead of India`s 7th New Exploration Licensing Policy round (NELP 7). At 2000 km2, the survey is the first of its kind and represents a significant milestone in the adoption of EMGS`s proprietary EM scanning technology.

Commencing before the end of January 2008, the survey is fully
pre-funded by India`s state-owned Oil and Natural Gas orporation
Limited (ONGC). Processed data will be available for licensing to other potential bidders during India`s biggest yet auction of
offshore blocks, which concludes in April 2008. EMGS will perform the survey in cooperation with India`s Directorate General of Hydrocarbons (DGH).

EMGS chief executive, Terje Eidesmo commented, `An increasing number of the world`s leading energy companies are turning to our advanced EM imaging technology to improve their exploration performance because of its proven ability to indicate hydrocarbons before drilling. Our unique EM scanning technology is reinventing how operators search for hydrocarbons. Explorers now have a means for rapidly identifying leads and assessing the prospectivity of new license blocks more accurately than previously possible, before bidding or committing significant resources to new ventures. This gives them a tremendous competitive advantage and significantly reduces their exploration risks.

`The project has been fully underwritten, and we are experiencing a high level of interest from other parties. The survey area is extensive, equivalent in size to almost 100 blocks in the Gulf of Mexico. This confirms the popularity of EM scanning as a potent exploration tool and its attractiveness as a multiclient product. We are delighted to expand our ongoing business relationship with ONGC and the DGH, and look forward to extending this new EM business model to other regions in the year ahead,` continued Eidesmo.

Scanning with EM technology enables operators to evaluate the
prospectivity of license blocks more efficiently and to optimise
their bidding strategies. Unlike traditional techniques using seismic surveys to indicate potential reservoir structures, EM scanning technology searches for electrical properties (resistivity) that indicate the location of hydrocarbons directly. Scanning with EM techniques offers the additional benefit of revealing potential leads such as stratigraphic traps, which are not easily visible on seismic maps. Combining EM with conventional methods enables faster and more accurate assessment of new blocks.

Contact
Terje Eidesmo, Chief Executive Officer
Svein T. Knudsen, Chief Financial Officer
Tel [phone]

About EMGS
EMGS is the market leader in deep electromagnetic (EM) imaging. The company spawned the EM imaging industry in 2002 with the
commercialisation of seabed logging, a proven exploration method that uses EM energy to find offshore hydrocarbons without drilling wells.

This proprietary and patented technology has been developed over the past 10 years, and its ability to indicate hydrocarbons directly is enabling EMGS` customers to dramatically improve their exploration performance in frontier and mature provinces. EMGS employs over 250 people from three main offices in Trondheim, Norway; Houston, USA; and Kuala Lumpur, Malaysia. The company operates the world`s largest
seabed-logging vessel fleet, and has, since its incorporation in
2002, conducted more than 300 surveys for many of the world`s leading energy companies.

[10 bagger]

SIOFF.ol,,

This press release came across the Norwegian wire today.. It is interesting because SIOFF.ol has been in freefall every day since.. My hunch is that the shares were never placed by the broker that positioned them and has been selling them since.. Today a low of $15.00 NOK was reached but i think the stock has finnaly been sold.. There was a private placement in October that I reposted below.. The sale came from Rovde Shipping seed money investors.. hank


A group of former Rovde Shipping shareholders sold
to day, the 28th December, the total of 5 million
shares in Siem Offshore Inc (`the Company`). The
price was set based on an average price of of the
two last trading days (22nd and 27th) at 18,80 NOK
per share.

As a part of this transaction, Oddvar Strand, COO
of Siem Offshore Inc, sold 200.000 shares.
Following this sale he own private, and through
his investment company, a total of 1.600.787
shares.

As a part of this transaction also Ulf H Sørdal,
Member of the Board of the Company, sold through
Jøkul AS, a family investment company, indirectly
owned 320.900 shares. Following the sale of these
shares he indirectly holds the ownership of
325.607 shares in the Company. Jøkul AS holds the
total of 1.836.000 shares after the transaction.
Vedlegg Ingen vedlegg funnet

In the end of October the Oslo Børs has approved the following prospectus:

Prospectus

Siem Offshore Inc

Private Placement of 30,000,000 new shares with a
nominal value of USD 0.01 per share at a
Subscription Price of NOK 18.12 per share.

The Private Placement has been fully subscribed by
Singa Star Pte Ltd on 30 October 2007

The prospectus is available to the public at:

The companys website:

Establishment of Long-Term Cooperation for Operation of AHTS Vessels and Issue of 30 million New Shares
By: Gro Wickstrøm [Last modified: 30/10/2007 09:07:05]

Siem Offshore Inc. (the “Company”) announces that it has entered into an agreement for a long-term cooperation with the unrelated Singapore-based private company, Singa Star Pte Ltd (“Singa Star”).


Siem Offshore Inc. (the “Company”) announces that it has entered into an agreement for a long-term cooperation with the unrelated Singapore-based private company, Singa Star Pte Ltd (“Singa Star”).

The initial elements for this long-term cooperation are as follows:

Siem Offshore exercises the option for 2 additional large anchor-handing tug supply vessels and transfers the shipbuilding contracts for such vessels to Singa Star
Singa Star grants an option for Siem Offshore to buy back the last of the two shipbuilding contracts
Establishment of a pool for the 10 anchor-handling tug supply vessels under construction for Siem Offshore and the 2 additional vessels
Siem Offshore to become the commercial manager of the pool and also to conduct the shipbuilding supervision and the technical management of the two additional vessels
Singa Star to become a 11.82% shareholder in Siem Offshore
FURTHER DETAILS
The Board of Siem Offshore Inc has today decided to exercise its option to enter into construction contracts (the “Contracts”) for 2 additional large anchor-handling tug supply vessels (the “Vessels”) at the Kleven Verft AS (the “Yard”). The contract value is approximately NOK 1.1 billion, (the “Contract Value”) and the Vessels are scheduled for delivery in the fourth quarter 2010.

The Company and Singa Star have agreed to enter into a long-term cooperation whereby the first step will be for Singa Star to acquire the two Contracts from the Company based on the Contract Values. Siem Offshore shall conduct the shipbuilding supervision and be the technical manager for the Vessels. The Company and Singa Star have also agreed that the Vessels shall be included in a pool together with ten similar vessels currently under construction for Siem Offshore and that Siem Offshore shall be the commercial manager of the pool.

Siem Offshore has an option to buy back the second of the two Contracts based on the Contract Value with logical adjustments for interests and additional out-of-pocket expenses incurred by Singa Star in respect of the Contract.

The above decisions are in line with the Company’s intention to become a major owner and operator in the segment for large anchor-handling tug supply vessels (AHTS vessels). Following the exercise of the options with the Yard and the transaction with Singa Star, the Company has the commercial control of 12 similar AHTS vessels under construction.

The vessels are of Vik-Sandvik VS 491 CD design and will have 28,000 BHP, a bollard pull of 300 tons, winch of 500 tons, accommodation for 60 persons, full PSV capacities and are designed with special focus on safe anchor-handling operations. The engine configuration will enable both diesel mechanical and diesel electric propulsion which, in combination with the hull design, will represent efficient fuel consumption and reduced emission.

Singa Star has agreed to subscribe for 30,000,000 new shares (the “New Shares”) to be issued by the Company following the publication of a prospectus later this year. Singa Star will thereafter hold 11.82% of the outstanding Company shares. The subscription price is NOK 18.12 per share, equivalent to gross proceeds of NOK 543,600,000. The subscription price is determined as the weighted average trading price of the Company’s shares at the Oslo Stock Exchange during 26 October and 29 October.

The New Shares will be issued after a prospectus is prepared by the Company and approved by the Oslo Stock Exchange. It is expected that the New Shares will be issued in early December 2007 and the equity base of the Company will increase from 223,891,866 ordinary shares to 253,891,866 ordinary shares, each with a nominal value of USD 0.01.

The proceeds from the share issue will strengthen the capital base of the Company and will be used to finance the fleet of vessels currently under construction.

Singa Star is an unrelated privately-owned company involved in the ownership and operation of various types of vessels within the global shipping industry.

29 October 2007

For further information:

Kristian Siem
Chairman
Siem Offshore Inc
Telephone: [phone]

[10 bagger]

PAR.ol

A new, significant discovery of condensate and
natural gas has been made at the well I-4 in
Block I which is on trend with the Belinda
discovery on Block O in Equatorial Guinea. This is
the third discovery of hydrocarbons made in
exploration wells drilled at Block I during 2007.
The operator estimates that the resource range is
60 percent higher in the Belinda trend than
initially estimated. PA Resources has a six percent
working interest in the license.

The operator Noble Energy, Inc. has today announced
a significant discovery of condensate and gas in
Block I offshore Equatorial Guinea. The exploration
well I-4 has encountered a high quality Miocene
reservoir that, when tested, yielded flow rates of
1,634 barrels per day of condensate and 28.9
million cubic feet per day of natural gas
(equivalent to approximately 6,450 barrels of oil
equivalent per day). The production rates were
limited by test equipment.

- The exploration drillings in Block I have once
again proved to be a success. The well I-4 was
drilled on the same play concept as the previous
three wells. All four wells have verified the
presence of substantial hydrocarbons in the block.
A total of three separate accumulations; Benita,
Yolanda and now I-4 on the Belinda trend, have
been found up to date. In the Belinda trend, the
operator estimates that the resource range is 60
percent higher than initially estimated, says Ulrik
Jansson, President and CEO at PA Resources AB.

The I-4 well, located in 678 meters of water and
11.2 kilometres southwest of the original Belinda
discovery in Block O, was successfully drilled to
its objective at a total depth of 2,963 meters. The
well was the final of the six-well program drilled
by the Songa Saturn drill ship on behalf of Noble
Energy.

The partners at Block I plan to carry out an active
exploration and appraisal drilling program in 2008
as they assess the options to commercialize the
discoveries. The next well, scheduled to spud in
late February 2008 with the drill ship Sedco 700,
will look to verify the oil resources down dip at
the Benita discovery on Block I.

Noble Energy is the Technical Operator of Block I
with a 40 percent working interest. Its partners on
the block include Atlas Petroleum International
Limited (29 %), who is the Administrative Operator,
Glencore Exploration Limited (25 %) and Osborne
Resources Limited, a company within the PA
Resources Group (6 %). GEPetrol (the national oil
company of Equatorial Guinea) will have a five
percent carried interest once commerciality has
been determined.

Stockholm, January 14, 2008
PA Resources AB (publ)

For more information, please contact:
Ulrik Jansson
President and CEO, PA Resources AB
Telephone: [phone]
E-mail: [e-mail]

or

Trond Bjerkan
Vice President, PA Resources AB
Telephone: [phone]
E-mail: [e-mail]


PA Resources AB (publ) is a fast growing oil and
gas group company with the business strategy to
acquire, develop and exploit oil and gas reserves,
as well as explore new findings. The Group operates
in Tunisia, Norway, Great Britain, Denmark,
Equatorial Guinea and the Republic of Congo
(Brazzaville). PA Resources is today one of the
largest oil producers in Tunisia. The parent
company is located in Stockholm, Sweden.

PA Resources AB`s net sales amounted to
approximately SEK 843 Million during 2006. The
company is primary listed on the Oslo Stock
Exchange in Norway (segment OB Match) and secondary
listed on the OMX Nordic Exchange in Stockholm,
Sweden (segment MidCap). For additional
information, please visit www.paresources.se.
Vedlegg Vedlegg:
Les om ansvar og rettigheter

[10 bagger]

TGS.ol,, TGSNF.pk

Asker, Norway, January 14th, 2008 - The Board of
Directors of TGS-NOPEC Geophysical Company (TGS) is
pleased to announce that Robert S. Hobbs will join
the company on January 25, 2008 as Chief Operating
Officer reporting directly to Hank Hamilton, Chief
Executive Officer. Based in Houston, Mr. Hobbs will
be responsible for the worldwide operations of TGS.

Mr. Hobbs joins TGS after one year as Manager,
Worldwide Geoscience with Marathon Oil Company.
Prior to this he spent nine years with Veritas DGC
in a wide range of roles including President &
Managing Director of the company`s wholly owned UK
subsidiary, where he was responsible for all
product lines in the Europe, Africa, Middle East,
and former Soviet Union region. He also worked ten
years as both a geologist and a geophysicist with
ARCO Oil and Gas, Exxon, and Union Texas Petroleum.
Mr. Hobbs holds a M.Sc. degree in Geology from the
University of Southern California.

`As a result of the rapid global expansion of our
business, we are strengthening our top management
team, allowing Hank more time to focus on strategic
issues. Robert`s experience and profile represent
an excellent match with our existing team`, said
Claus Kampmann, Chairman of TGS.

`We feel very fortunate to be able to attract an
executive of Robert`s caliber`, added Hank
Hamilton. `I look forward to working closely with
him to build an even stronger TGS.`

TGS-NOPEC Geophysical Company (TGS) is a principal
resource for global geoscientific data products and
services in the E&P industry. TGS specializes in
the design, acquisition and processing of multi-
client seismic surveys worldwide and delivers
advanced high performance seismic imaging and
software solutions. The Company also provides the
world`s largest online well-log database, well data
management services, multi-client interpretive
products and subsurface consulting services to
industry. The suite of integrated exploration data
products available from TGS is distinctive and
unmatched. The Company philosophy is to create
unique high-quality data collected in the right
place at the right time.

All statements in this press release other than
statements of historical fact are forward-looking
statements, which are subject to a number of risks,
uncertainties and assumptions that are difficult to
predict, and are based upon assumptions as to
future events that may not prove accurate. These
factors include TGS` reliance on a cyclical
industry and principal customers, TGS` ability to
continue to expand markets for licensing of data,
and TGS` ability to acquire and process data
products at costs commensurate with profitability.
Actual results may differ materially from those
expected or projected in the forward-looking
statements. TGS undertakes no responsibility or
obligation to update or alter forward-looking
statements for any reason.

TGS-NOPEC Geophysical Company ASA is listed on the
Oslo Stock Exchange (OSLO: TGS).
For more information about this news release,
please contact:

Arne Helland
Chief Financial Officer
Tel: [phone]
Email: [e-mail]

John Adamick
VP Business Development
Tel: [phone]
Email: [e-mail]

[10 bagger]

SDRLF.pk

The Seadrill jack-up drilling rig West Janus has secured new
employment with a major operator in South East Asia. The assignment
has a duration of three years and the estimated contract value is
approximately US$164 million. Start-up of operations is scheduled in
the third quarter 2008, in direct continuation of the rig`s existing
contractual commitments. The rig will perform a brief yard-stay later
this year to prepare the rig for the new assignment. The West Janus
is currently operating offshore Malaysia.

[10 bagger]

Parker Hannifin Corporation - Completed mandatory offer

(10 January 2008) We refer to the information notice of 6 December 2008 from Parker Hannifin Corporation (`Parker`, NYSE ticker PH), regarding the mandatory offer for all outstanding shares in Scan Subsea ASA (`Scan Subsea`, OSE ticker SCASUB) from Parker.

The offer period in the mandatory offer to all shareholders of Scan Subsea, as described in the offer document dated 5 December 2007, expired on 3 January 2008 at 16:30 Norwegian time (CET).

As per 5 December 2007 Parker owned indirectly, through its wholly owned subsidiary Parker Hannifin (Norway) Holdings AS, 62,343,511 shares in Scan Subsea, corresponding to 97.86% of the share capital and the votes in Scan Subsea. By the completion of the offer period Parker had received acceptances for another 311,219 shares in Scan Subsea, corresponding to a total ownership of 98.4% of total outstanding shares.

Settlement will be made in NOK on or about 14 January 2008 and at the latest within 14 days following the expiry of the offer period. Settlement will be made by way of a transfer of the relevant amount to the accepting shareholder's bank account registered in the VPS for dividend payment purposes.

Shareholders who have not accepted the mandatory offer by sending the acceptance form to Pareto Securities within the expiry of the offer period, have had their shares acquired through the compulsory acquisition, as further described in the information notice on 6 December 2007. The redemption amount per share of Scan Subsea offered in connection with the compulsory acquisition is equal to the offer price in the mandatory offer, which is NOK 22 paid in cash. The redemption amount for all remaining shares in Scan Subsea has been deposited at a separate bank account in accordance with the requirements of the Norwegian Public Limited Companies Act. The deadline for objecting to the redemption amount per share offered under the Compulsory Acquisition is 7 February 2008. Any former shareholder of Scan Subsea who does not object to the redemption amount per share within this date will be deemed to have accepted the consideration of NOK 22 per share. Settlement under the compulsory acquisition will take place within 21 February 2008.

Pareto Securities AS is Parker’s financial advisor.


For further information, please call:

- Christopher M. Farage, Parker Hannifin Corporation, [phone]

[10 bagger]

TGS.ol TGSNF.pk

This fight is getting dirty and presents a buying Opp. on TGS.ol.. TGS.ol had a down Qtr and the price of it's stock was cut in half.. TGS.ol is still the finest seismic company in the world in my opinion and purchases made in the $75.00 NOK area should work... TGS.ol should in this market enviorment be considered a long term and core holding...



(Asker, Norway, January 11th 2008) Yesterday`s
extraordinary general meeting of Wavefield Inseis
ASA (`Wavefield`) does not change the agreed upon
path forward for resolving any remaining disputes
between Wavefield and TGS-NOPEC Geophysical ASA
(`TGS`). The agreed merger plan cannot be
cancelled without the consent of TGS. The merger
plan states that any disagreements between the
parties are to be resolved through a Norwegian
arbitration panel of judges. TGS will honour the
merger plan and continue the arbitration process
to complete the merger as agreed.

TGS` position is that it has fulfilled its merger
plan obligations and will prevail in the
arbitration process. Therefore TGS will not
consider increasing the exchange ratio. `Given
our legal position, we will not be frustrated by
Wavefield`s efforts to extract extra value from
TGS shareholders. To be clear, TGS will not ask
its shareholders to compensate Wavefield for its
negligence in understanding the risks it and its
shareholders were undertaking when it signed the
merger plan. TGS` earnings power is greater today
than ever before,` says Claus Kampmann Chairman of
TGS.

The two parties have both again affirmed that the
business rationale for the merger remains valid.
However, the extraordinary general meeting in
Wavefield was not the right arena for resolving
outstanding disagreements between TGS and
Wavefield. `We look forward to a full and fair
hearing of our case in arbitration and are
confident that Wavefield`s allegations will be
proven false` says Hank Hamilton, Chief Executive
Officer of TGS.

For additional information about this news release
please contact:



Arne Helland

[10 bagger]

EOC Limited EOC.ol...

15 Hoe Chiang Road #15-01 Tower Fifteen Singapore 089316
Tel: [phone] (Main) Fax: [phone]
(Co. Reg. No. 200702224N)

Press Release...

1QFY08 Net Profit Swells Almost 10-Fold; Declares US$0.0204/share Maiden Dividend...

Revenue surges 12x as two new vessels boost charter income..

Decisive fleet expansion and move into new regional markets will propel future performance..



Singapore, 11 January 2008 – EOC Limited,,, the Group one of Asia's largest and most dynamic specialist operators of offshore construction & production vessels, has announced a spectacular leap in net profit.

For the three months ended 30 November 2007 (1QFY08), net profit surged 976.2% to US$8.2 million as revenue ballooned 12x to US$27.2 million. 1QFY08 EPS grew from US$0.013 to US$0.0742, the latter on an enlarged weighted average share capital of approximately 110.96 million shares.

Said EOC‟s CEO Lim Kwee Keong about the glowing results: “Our timely fleet expansion has enabled us to ride high on the buoyant offshore oil & gas sector. We are happy to reward our shareholders with a dividend of USD0.0204 per share – the first since EOC‟s successful Oslo BØrs-listing last October.”

What pitched revenues to new highs was the maiden 1Q contribution in charter income from two vessels: heavy lift accommodation crane barge Lewek Chancellor and heavy lift accommodation pipelay vessel Lewek Champion, which came onstream in March and August 2007, respectively. Another revenue booster came from new construction services contracts worth USD2.8 million. The overall gross margin remained impressive, at 52.4%, despite the slightly lower margins earned on these construction services contracts and new third-party chartering contracts

During the quarter, EOC successfully diversified its customer base beyond Southeast Asia, bringing Australia and the Middle East into its fold as well. Customers outside Southeast Asia accounted for 78% of the Group‟s revenue. On the company‟s future growth, Mr Lim added: “Insatiable demand for energy will continue to underpin high oil and gas prices and, therefore, demand for offshore construction and floating production services. Enquiries for charters and offshore construction services are high, our existing fleet is optimally employed and we have on schedule the delivery of a floating production storage and offloading vessel (FPSO) in 4Q FY08.”

EOC, whose maiden dividend will be paid on 11 January, became the first Singapore-managed and Singapore-incorporated company to successfully list on the Oslo BØrs. EOC and parent SGX-listed Ezra Holdings, which holds a 48.9% stake in the firm, provide value-added offshore support services throughout the life cycle of oil and gas production, from exploration support, through facility development, production, operations, maintenance and abandonment.

----------------------------------------------------

About EOC Limited EOC Limited offers offshore construction and floating production services, installation and commissioning work, as well as transportation services which support the entire life cycle of the offshore oil & gas production phase.

It manages heavy lift two accommodation crane barges, Lewek Conqueror and Lewek Chancellor; a heavy lift accommodation pipelay vessel, Lewek Champion; and Lewek FPSO 1 (delivery in FY08). These vessels are utilised in various support activities which last through facility development, production, operations, maintenance and abandonment.

The firm operates in the Middle East, Australia, Thailand and the Philippines, and is the Construction & Production arm of Singapore Exchange-listed Ezra Holdings Limited, the largest owner/operator of an integrated range of offshore support vessels for charter across a broad spectrum of the oil & gas offshore support services supply chain.

EOC, 48.9%-owned by Ezra, was listed on the OTC of Norway on 23 April 2007 and promoted to the Oslo BØrs on 3 October 2007.

[10 bagger]

TGS.ol,, TGSNF..

(Asker, Norway, January 7th 2008) Based on
preliminary reporting from all operating units, TGS-
NOPEC Geophysical ASA (TGS) now expects its stand
alone net revenues for the fourth quarter of 2007
to be approximately USD 168 million.

`Quarterly revenues are 36% above our previous all
time high achieved in the fourth quarter of last
year. This robust growth is a result of a broad-
based market response to TGS projects in all
geographic locations. We expect demand for high
quality seismic and well log products to remain
strong throughout 2008, and we are confident TGS is
positioned to continue delivering healthy growth`,
says Hank Hamilton, CEO of TGS.

Estimated stand alone net revenues for the full
year 2007 now amount to approximately USD 453
million, excluding the USD 9.8 million previously
included in the TGS third quarter results from the
consolidation of 10 days of Wavefield Inseis`
business . Consequently, the 2007 annual growth
rate in excess of 14% is in line with TGS` guidance
for the full year 2007, issued on July 13th 2007
prior to commencement of the merger discussions
with Wavefield Inseis.

As a result of the delay in completing the merger
with Wavefield, TGS will present its fourth quarter
and full year figures on a stand alone basis at its
scheduled earnings release on February 14th 2008.
TGS will also issue guidance for 2008 at that time.

TGS may be required to record a financial loss in
its fourth quarter accounts on the value of the
Wavefield shares acquired during the third quarter
of 2007.

CEO Hank Hamilton and CFO Arne Helland will host a
conference call today January 7th at 16:00
Norwegian time (10:00 AM New York time). Norwegian
attendees are invited to call 800 80 119 and
international attendees are invited to call +47 23
000 400. Attendees may want to call 5-10 minutes
before 16:00 (10:00 AM NY) hours to ensure
registration and access. A Q&A session will follow
a short introduction.To pose a question, please
press *1.

A replay of the Conference call will be available
shortly after. To access replay of TGS NOPEC´s
conference call, dial [phone], account no:
1193 followed by # (pound-sign), press 1,
Conference no: 193 followed by # (pound-sign),
press 1 to play.


For additional information about this news release
please contact:
Arne Helland
Chief Financial Officer
Tel: [phone]
Email: [e-mail]

[10 bagger]

Subsea 7 Inc (OSE Symbol: SUB.ol), one of the world`s
leading subsea engineering and construction
companies, announced today that it has been
awarded a contract by Petrobras America, a
subsidiary of Petrobras (NYSE: PBR/PBRA) for
installation works in the deepwater Cascade &
Chinook fields in the Gulf of Mexico. The
contract is valued in excess of US $50 million.

Subsea 7 is to engineer and install 70 km of power
cables and control umbilicals and fabricate and
install 16 jumpers in the Cascade & Chinook
fields, located at Block 425 of Walter Ridge area
in water depths ranging from 2,300m to 3,000m.

Work will commence immediately with the Project
Management and Engineering team located in Subsea
7`s offices in Houston. Fabrication of the
jumpers will be carried out at Subsea 7`s logistic
base in Mobile, Alabama. The offshore
installation campaign will be carried out by one
of Subsea 7`s deepwater umbilical installation
vessels late 2009 and early 2010. The final
selection of vessel will be dependant on the size
and weight of product to be installed following
optimisation by Petrobras and Subsea 7.

Bill Boyle, Subsea 7`s North and Central America
Vice President stated, `The award of this very
challenging installation contract confirms Subsea
7`s position as the subsea partner of choice for
deepwater umbilical installation and construction
in the Gulf of Mexico. It builds on Subsea 7`s
already very strong and historic partnership with
Petrobras in Brazil.`

The Cascade and Chinook fields are being developed
using a Floating Production Storage and Offloading
facility (FPSO) to be installed in 2010. This is
the first time such a development concept has been
used in the American waters of the Gulf of
Mexico.

Ends
8th January 2008

For additional information, please contact:
Barry Mahon, Chief Financial Officer, Subsea 7,
Tel: [phone]

[10 bagger]

Potash One Announces Closing of Equity Financing
Monday January 7, 11:17 am ET


VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jan 7, 2008 -- Potash One Inc. (the "Company" or "Potash One") (CDNX:KCL.V - News) is pleased to announce that it has completed a non-brokered equity private placement of 4.15 million units at a price of $2.65 per unit for net proceeds of $10,997,500 (the "Placement"), as previously reported in its news release on December 19, 2007. A total of 206,250 units, representing 5% of certain subscriptions were issued to certain finders for introducing the subscribers to the Company.
ADVERTISEMENT


The proceeds from the Placement will be used to expedite the development of the Company's Legacy Potash Project in Saskatchewan and for general corporate purposes.

Paul F. Matysek., President and Chief Executive Officer of Potash One Inc., said: "We are very pleased with the overwhelming level of interest that was expressed in the Placement. We can now accelerate our development plans as we move into 2008."

The Company appreciates the strong commitment provided by Front Street Capital & Ceres Global Ag Corp. (Toronto:CRP-UN.TO - News) and welcomes them as shareholders.

The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.

The Company controls over 97,000 acres of previously explored potash-bearing property which is directly adjacent to a large producing potash mine to the south of the Company's property.

Potash One's Legacy project in Saskatchewan was previously explored by Imperial Oil Ltd. (now Exxon) and Lumsden Potash Corporation.

Potash One Inc. is a Canadian potash company engaged in the identification, acquisition, exploration and development of advanced resource properties. The Company has a solid balance sheet and experienced technical and corporate management to advance its current project to the next level. The primary interests of the Company include an option to acquire 100% interest in a 97,240 acre Potash Subsurface Exploration permit in Saskatchewan, Canada.

Forward Looking Statement

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address further production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions such statements are not guarantees of further performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.



The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.



Contact:
Contacts:
Potash One Inc.
Paul F. Matysek, M.Sc., P.Geo.
President and Chief Executive Officer
[phone]
[phone] (FAX)
Email: [e-mail]



--------------------------------------------------------------------------------
Source: Potash One Inc.

[10 bagger]

Potash One Announces Closing of Equity Financing
Monday January 7, 11:17 am ET


VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jan 7, 2008 -- Potash One Inc. (the "Company" or "Potash One") (CDNX:KCL.V - News) is pleased to announce that it has completed a non-brokered equity private placement of 4.15 million units at a price of $2.65 per unit for net proceeds of $10,997,500 (the "Placement"), as previously reported in its news release on December 19, 2007. A total of 206,250 units, representing 5% of certain subscriptions were issued to certain finders for introducing the subscribers to the Company.
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The proceeds from the Placement will be used to expedite the development of the Company's Legacy Potash Project in Saskatchewan and for general corporate purposes.

Paul F. Matysek., President and Chief Executive Officer of Potash One Inc., said: "We are very pleased with the overwhelming level of interest that was expressed in the Placement. We can now accelerate our development plans as we move into 2008."

The Company appreciates the strong commitment provided by Front Street Capital & Ceres Global Ag Corp. (Toronto:CRP-UN.TO - News) and welcomes them as shareholders.

The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.

The Company controls over 97,000 acres of previously explored potash-bearing property which is directly adjacent to a large producing potash mine to the south of the Company's property.

Potash One's Legacy project in Saskatchewan was previously explored by Imperial Oil Ltd. (now Exxon) and Lumsden Potash Corporation.

Potash One Inc. is a Canadian potash company engaged in the identification, acquisition, exploration and development of advanced resource properties. The Company has a solid balance sheet and experienced technical and corporate management to advance its current project to the next level. The primary interests of the Company include an option to acquire 100% interest in a 97,240 acre Potash Subsurface Exploration permit in Saskatchewan, Canada.

Forward Looking Statement

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address further production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions such statements are not guarantees of further performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.



The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.



Contact:
Contacts:
Potash One Inc.
Paul F. Matysek, M.Sc., P.Geo.
President and Chief Executive Officer
[phone]
[phone] (FAX)
Email: [e-mail]



--------------------------------------------------------------------------------
Source: Potash One Inc.

[10 bagger]

SDRL - Voluntary offer for Aker Drilling ASA
Monday January 7, 10:54 am ET


HAMILTON, BERMUDA--(MARKET WIRE)--Jan 7, 2008 -- Seadrill Limited refers to its announced intention to make a voluntary offer to purchase all of the outstanding shares in Aker Drilling ASA at an offer price of NOK40.50 subject to being allowed to perform a verification of its valuation of Aker Drilling through a due diligence review of its assets and financing and a 90 percent acceptance level.
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Subsequent to the announcement of this intention on December 14, 2007, a formal request was made by Seadrill to the board of Aker Drilling for access to such information on its assets, financing and operations as would allow Seadrill to perform the required due diligence review.

Following the submittal of this request, Aker Drilling's main shareholder (holding approximately 44.97 percent of its shares), Aker Capital AS, announced that they would not accept any offer for its shares at the price level indicated by Seadrill.

In view of Aker Capital AS' position, the board of Aker Drilling announced that it saw no reason to allow Seadrill access to any information regarding Aker Drilling since the 90 percent acceptance level condition could not be met.

The Board of Seadrill has considered the situation following Aker Drilling's response and has decided to revise the condition relevant to the acceptance level from a minimum of 90 percent to a minimum of 50 percent. Aker Capital AS' position in relation to the proposed voluntary offer will thus no longer make the completion thereof impossible.

The intended voluntary offer from Seadrill remains at NOK40.50 per share and is still subject to a review of material information regarding Aker Drilling's contracts, newbuildings and financing. A letter has today been sent to Aker Drilling's board with a renewed request for access to such information.

The Board of Seadrill believes that the request for information is highly reasonable at present since Aker Capital (who is represented on Aker Drilling's board and thus have access to this information) has a competing offer in the market.

Seadrill observes that their proposed voluntary offer of NOK40.50 clearly is superior to Aker Capital's bid price of NOK39. Given this, Seadrill assumes that the Board of Aker Drilling will act in the interest of all shareholders and allow Seadrill access to the information required to perform their requested due diligence review.

For the avoidance of doubt, Seadrill will not proceed with the intended voluntary offer if the Board of Aker Drilling maintains its position in declining Seadrill such access.