ATP Oil & Gas Corp., Houston, has acquired undeveloped reserves in the Southern Gas Basin of the U.K. North Sea from BP. ATP will acquire an 86% equity interest in blocks 43/17c, 43/22a and 43/22c, which contain two separate gas discoveries made by Bow Valley in 1992 and 1994. Pioneer Natural Resources Co., Dallas, subsidiary Pioneer Natural Resources Anaguid Ltd. has entered into definitive agreements with Coho Anaguid Inc., a subsidiary of Coho Energy Inc., Anadarko Tunisia Anaguid Co., an indirect wholly owned subsidiary of Anadarko Petroleum Corp., and Nuevo Energy Co. to jointly acquire Coho's 45.83% participating interest in the Anaguid permit in the Ghadames Basin onshore southern Tunisia. Pioneer will join Anadarko, the operator of the permit, and Nuevo in exploring the 1.1-million-acre permit. Pioneer will acquire from Coho a 30% participating interest, and pay its share of the cost of at least one exploration well, reimburse its share of 2001 seismic and geologic costs and assume other existing obligations of Coho's interest in the permit. A purchase price was not disclosed. Phillips Petroleum Co., Bartlesville, Okla., has agreed to exchange interests in four oil blocks off the coast of Britain with BP. The exchange calls for Phillips to swap its 62.74% interest in Block 22/28a-which contains the Kate/Tornado discovery-for BP's 21.38% interest in Block 30/2a, and BP's 100% interest in Block 30/1b, excluding the Kessog discovery. Block 30/2a and Block 30/1b contain the 30/2-1 Palaeocene discovery. Phillips also will receive 0.45% of BP's interest in the Britannia Field Unit, bringing the company's interest in that unit to 7.23%. Arrow Energy has acquired privately owned Australian CBM Pty Ltd. for A$400,000 cash and 2.5 million shares. CBM is earning 50% equity in nine blocks. CBM has interest in ATP676P around Chinchilla where three wells were drilled at less than 220 meters with a combined total of 417,000 cu. ft. of gas per day are produced. CBM has a 100% interest in ATP689P consisting of 60 blocks. U.K. oil explorer Paladin Resources, London, U.K., said Enron, Houston, has sold the whole of its 40-million-share stake via HSBC Bank for 44 pence a share. Paladin had 210 million shares outstanding as of May 2001, giving Enron a 19% stake. Centurion Energy International Inc., Calgary, plans to acquire from TransAtlantic Petroleum Corp. working interests in two concessions in Egypt. Centurion has agreed to purchase a 30% interest in the onshore West Gharib concession and a 25% working interest in the Central Sinai concession in the Sinai Desert. The Hana Field in the West Gharib concession is producing approximately 1,750 bbl. of oil per day from eight wells with additional undeveloped acres. Proved reserves for the field are estimated at 1.8 million bbl. Europe-based CanArgo Energy Corp. will acquire 100% ownership of Lateral Vector Resources Inc., Regina, Saskatchewan. Vector's principal operations are in Ukraine. CanArgo's principal oil and gas operations are currently in the republic of Georgia. Dana Petroleum, Aberdeen, Scotland, completed the acquisition of interests in U.K. Central North Sea Blocks 21/12 and 21/13a, including interest in the Goosander Field, from Burlington Resources Inc., Houston, for US$4 million with payments up to US$10 million contingent on development of Goosander. Recoverable oil reserves are estimated at 16 million bbl.
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