Doig's Digest

Doig's Digest

August 28, 2007 08:00 ET

Doig's Digest's Fifteenth Annual Edition of Canadian Energy Ventures Abroad Is Available in Both Paper and Digital Format

CALGARY, ALBERTA--(Marketwire - Aug. 28, 2007) -

YEAR 2006 WAS ANOTHER PERIOD OF CONSOLIDATION IN THE INTERNATIONAL ACTIVITIES OF CANADIAN PETROLEUM COMPANIES.

Year 2006 was a period of consolidation in the international activities of Canadian exploration and production companies. They recorded approximately the same production levels, on a crude equivalent basis, as those recorded in 2005 - oil production decreased approximately seven percent while natural gas production increased by 14 percent.

The Fifteenth Annual Doig's Digest Report, CANADIAN ENERGY VENTURES ABROAD, also revealed that in 2006:

- 84 Canadian exploration and production companies had land holdings in 69 countries worldwide.

- 47 Canadian companies produced 780,799 barrels per day of crude oil and liquids in 32 countries - a decrease of 54,575 barrels per day from 2005.

- 35 Canadian companies produced 2,400.5 million cubic feet of natural gas per day in 22 countries - an increase of 291.6 million cubic feet per day from 2005.

For comparison purposes, in 1993 Canadian companies recorded international crude oil and liquids production of 135,890 barrels per day and natural gas production at 328.0 million cubic feet per day.

Commenting on the sector's growth, Ian M. Doig, publisher of Doig's Digest and the CEVA Report, said that "Last year, companies recorded international crude oil and natural gas liquids production equal to 20% of that produced in Canada, spent 16% of their capital expenditures outside of Canada, and were the catalyst for over 15% of Alberta's petroleum workforce now working on international production projects and selling Canadian oil and gas supplies." Internationally consulted for his probing assessment of Canadian energy developments, Mr. Doig is a well-known figure in the Canadian oil patch.

Commenced in 1983, Doig's Digest (www.doigsdigest.ca) is regarded as Canada's leading independent oil and gas newsletter.

Internationally, the highlight of 2006 for Canadian energy companies was Petro-Canada selling its producing assets in Syria and later in the year acquiring a production sharing contract in the same country. Other events of note included: Pan-Ocean Energy Corporation was sold to Addax Petroleum Corp.; Nations Energy Company Ltd. sold its assets in Kazakhstan to CITIC of Beijing, China; Niko Resources Ltd. had continued success in the deepwater D6 Block, offshore India; Rally Energy Corp. received a Commercial Declaration for the Salsabil field in Egypt; EnCana Corporation sold its operations in Brazil and Ecuador; and Bow Valley Energy Ltd. committed to participate in a multi-year, multi-well exploration on the North Slope of Alaska. In January 2007, Centurion Energy International Inc. sold its Egyptian operations to Giza Acquisition Inc., a wholly-owned subsidiary of Dana Gas PJSC.

The five Canadian companies with the largest international crude oil and liquids production in 2006 were: Talisman Energy Inc., Nexen, Inc., Canadian Natural Resources Limited, Addax Petroleum Corporation and Petro-Canada. The five countries/areas recording the largest volumes of Canadian-produced crude oil and liquids were: U.K. North Sea, Yemen, Nigeria, the United States, and Libya.

The five Canadian companies with the largest international natural gas production in 2006 were: EnCana Corporation, Talisman Energy Inc., Nexen, Inc., Canadian Natural Resources Limited, Addax Petroleum Corporation and Petro-Canada. The five countries/areas recording the largest volumes of Canadian-produced natural gas were: the United States, Indonesia, U.K. North Sea, Egypt, and Malaysia/Vietnam.

The 182-page CEVA Report provides key details regarding 129 Canadian exploration and production, pipeline, drilling and service companies that have had operations, made sales and held land in 118 countries around the world in 2006. In addition to identifying which Canadian companies are looking abroad for growth, the Report analyzes their international exploration and production activities and provides addresses, key contact names, telephone and fax numbers, e-mail addresses and web page information.

And as in the past, the Report is available in digital format featuring access to corporate websites for detailed information, to e-mail addresses for quick communication and the ability to sort companies in multiple lists for cross-referencing.

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