Energy Briefing: Market Movers in the News - PetroTech Oil & Gas, Samson Oil & Gas, Abraxas Petroleum, Chesapeake Energy

CORAL SPRINGS, Florida, August 2, 2013 /PRNewswire/ --

FinancialNewsMedia.com issues news updates for today's leading market movers in the Energy sector currently showing positive trends:  PetroTech Oil and Gas, Inc. (OTC: PTOG), Samson Oil & Gas Limited (NYSE: SSN), Sonde Resources Corp. (NYSE: SOQ), Abraxas Petroleum Corporation (NASDAQ:AXAS) and Chesapeake Energy Corporation (NYSE:CHK).

PetroTech Oil and Gas, Inc. (OTC: PTOG) Headline:  PetroTech Oil and Gas Hits Oil on Well Number 11 Navarro County Texas.  "Pre testing of the chemical intended to treat the well, resulted in free flowing oil from the annulus, and production from the oil zone into the test tank beside the wellbore" Said Eddie Schilb President, PetroTech, he went on to add "We are excited about the results from the work effort. The primary free flowing IP test indicated pretreatment production of 5 to 10 barrels of oil per day, and when sustained at that rate production gross revenue per month could exceed $20,000.00"  To read the entire press release, please go to http://finance.yahoo.com/q/h?s=PTOG+Headlines

See an exclusive video and informative presentation for PetroTech Oil and Gas, Inc.'s - "State of Art" Technology & Developments by viewing:http://www.johnnyrichardson.com/petrotech/petro.html

 "We hope that after major treatment is completed with our own technology that we will significantly increase that amount," said Ayo Odetunmibi engineer for Petrotech. He added that 70% of the wells located on these leases could be productive wells, producing up to 5 barrels of oil per day averages but with the proper treatments, work over and recomplete procedures; this could yield 350 or more barrels per day, and it seems we are on the right track so far.  "Please look for our announcement of our location web cam coming up soon".

FNM Sector Commentary:  Even with some industry analysts believing the Energy sector is currently slumping, Oswald Clint, an analyst from Bernstein Research, recently reported he believed that oil prices can hold steady and even rise in the coming years leading into 2015. The primary reasoning for Clint thinking this is the growth of U.S. oil production is slowing because the best new American fields have been tapped, and the number of rigs probing new fields has flattened out.   One of the more difficult places for Big Oil lately has been onshore in the U.S., which is in the midst of a historic oil boom being driven by the new discoveries. American production is now rising faster than any time since the 1950s, putting the nation on track to become the world's biggest oil producer.   This leads many to believe emerging stars in the Oil & Gas industry like PetroTech Oil and Gas are positioning themselves to take full advantage of potential growth in this sometimes volatile market.

Samson Oil & Gas Limited (NYSE: SSN) announced this week that the Company is presently drilling ahead in the lateral portion of the Billabong 2-13-14HBK well at a depth of 13,850' MD. Gas levels have remained at over 2000 units and abundant oil staining has been observed in samples while drilling the Middle Bakken silty sandstone. The forward plan is to continue to drill to a measured depth of 17,663 feet, run and cement the 41/2" production liner, and then fracture stimulate the Billabong 2-13-14HBK and Sail & Anchor 4-13-14HBK wells together.

Sonde Resources Corp. (NYSE: SOQ) announced the release of its financial and operating results for the second quarter ended June 30, 2013. The Management's Discussion and Analysis and Financial Statements for the quarter ended June 30, 2013 can be viewed on the System for Electronic Document Analysis and Retrieval (SEDAR) at http://www.sedar.com, and on the Securities and Exchange Commission's Electronic Document Gathering and Retrieval System (EDGAR) at http://www.sec.gov. Shareholders have the ability to receive a hard copy of the Company's complete second quarter financial statements free of charge upon request.  Sonde will be hosting a conference call on Friday, August 2, 2013 at 1:30 p.m. MDT to provide a report on the second quarter 2013 results. Mr. Kurt Nelson, Chief Financial Officer, will host the call. All interested parties may join the call by dialing 416-340-8018 or 866-223-7781. Please dial-in 15 minutes prior to the call to secure a line. The conference call will be archived for replay on the Sonde website within 48 hours of this conference call.

Abraxas Petroleum Corporation (NASDAQ: AXAS) Announces Significant Bakken Flow Rates; Provides Operational and Second Quarter 2013 Production Update.  Abraxas' production for the second quarter of 2013 averaged 4,109 boepd (2,094 barrels of oil per day, 9,825 mcf of natural gas per day and 377 barrels of NGLs per day). Abraxas successfully completed and turned to sales 5.0 gross (1.0 net) wells in the Eagle Ford shale during the quarter. Abraxas reaffirms its 2013 production guidance of 4,550-4,700 boepd. Abraxas Petroleum Corporation is a San Antonio based crude oil and natural gas exploration and production company with operations across the Rocky Mountain, Permian Basin and onshore Gulf Coast regions of the United States and in the province of Alberta, Canada.

Chesapeake Energy Corporation (NYSE: CHK) News:  SemGroup Corporation (NYSE: SEMG) today announced it completed its previously disclosed acquisition of the gas gathering and processing assets owned by Chesapeake Energy, located in the Mississippi Lime play for $300 million in cash. Approximately $125 million of additional capital expenditures will be required for the completion of the Rose Valley plants I and II, as well as additional capital related to future well connects..

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