Africa Oil Operations Update

 Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or the "Company") is pleased to provide the following update on its operations in Kenya and Ethiopia.

With two significant oil finds achieved to date, the Company and operating partner, Tullow Oil plc, continue their very aggressive 2013 drill program on the newly discovered East African play fairway. The partnership currently has three rigs active in the area.

The testing program on the Twiga discovery well is underway with final results expected to be announced in early February. Five zones are being tested. Based on analysis of the electrical logs, conventional and sidewall cores and MDT sampling program, the Company estimates a flow rate of approximately 500 bopd per interval.

Longwei Petroleum Raises Full-Year Guidance with Increased Revenue Contribution from its Huajie Facility

Company expects fiscal 2013 revenue to increase 30.7% to $667.3 million, with the new Huajie facility to contribute $121.0 million

Longwei Petroleum Investment Holding Ltd. (NYSE MKT: LPH) ("Longwei" or the "Company"), an energy company engaged in the storage and distribution of finished petroleum products in the People's Republic of China ("PRC"), today announced that it has raised its full-year guidance for the fiscal year ending June 30, 2013 ("FY13").

Longwei now forecasts FY13 revenue to increase 30.7% year-over-year to $667.3 million, versus prior forecasts of $646.3 million.  Longwei also projects net income, adjusted for the warrant derivative liability, to grow approximately 23.0% year-over-year to $80.1 million, versus the prior forecast of $77.6 million.  The growth is primarily driven by the better-than-expected ramp-up of the new Huajie facility. 

Caza Oil & Gas Announces Initial Production Forehand Ranch Bone Spring Test Well

Caza Oil & Gas, Inc. ("Caza" or the "Company") (TSX:CAZ)(AIM:CAZA) is pleased to provide a production update for the Company's Forehand Ranch 27 State Com No. 1H horizontal Bone Spring well on its Forehand Ranch Prospect in Eddy County, New Mexico.

The Forehand Ranch 27 State Com No. 1H horizontal Bone Spring well was fracture stimulated in the 2nd Bone Spring Sand in twelve stages and has been producing under controlled flowback for two weeks. The well continues to clean up, but production has stabilised. In the past 24 hours, the well recovered hydrocarbons and frac fluids at a gross rate of approximately 1,631 barrels (bbls), producing 170 bbls of oil, 103 thousand cubic feet of natural gas, which equates to 187 bbls of oil equivalent, and 1,444 bbls of frac fluid.

Sonde Resources Corp. Farms Out 66% of Joint Oil Block Interest

Sonde Resources Corp. ("Sonde" or the "Company") (SOQ.TO) (NYSE MKT:SOQ) (NYSE Amex:SOQ) announces that it has farmed out 66.67% of its interest in the Joint Oil Block to Viking Energy North Africa Limited ("Viking"), a private company. Sonde will receive the following consideration in connection with the farm out (all amounts are in U.S. Dollars):

• Viking will pay Sonde in total a US $3 million non-refundable signature bonus;

• Viking will assume responsibility for the three well exploration commitment under the terms of the EPSA and fund 100% of the Joint Oil Block share of the Unit Plan of Development for the Zarat Field. The first well, Fisal, is to be drilled in 2013 along with the acquisition of seismic data covering the Hadaf prospect;

  Published: 28 December 2012

  Written by Editor

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