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Ahdab Oilfield Hits 140,000 Barrels Per Day US Sues KBR over Troop Trailers in Iraq WesternZagros Announces Appointment of Senior Vice President Infinite possibility, Immediate need

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Houston-based limited partnership purchases oil and gas properties in California

by Stibbs & Co., P.C. on November 20, 2012

Memorial Production Partners LP, a Houston oil and gas limited partnership, has announced that it signed an agreement to purchase oil and gas producing properties in Southern California, according to NASDAQ.

The contract has been signed with Rise Energy Partners, LP and $271 million will be spent on the purchase. The effective date for this agreement was set as September 1, 2012 and it is expected to be closed this December.

The Board of Directors and the Board's conflict committee have all approved the transaction. The properties being acquired are located in offshore waters about 11 miles from the Port of Long Beach, California.

Memorial Production Partners will be the operator of the property, which includes three wellhead and production processing platforms. A pipeline almost 18 miles in length is going to be used at the location, with two platforms standing 260 feet below the water's surface.

"We are very excited to announce Memorial's largest acquisition to date and fifth transaction in our first twelve months of operation. We believe these properties are ideal for an MLP because they are located in a mature, legacy basin characterized by long life oil reserves, stable production with a low decline rate and low risk development drilling opportunities. This acquisition also diversifies our commodity mix by adding a significant amount of oil production and reserves," John Weinzierl, chairman, president and chief executive officer of the general partner of Memorial Production Partners, said in a statement.

Some of the benefits of this acquisition include a distributable cash flow and a diverse distribution of resources within the acquired properties. In addition, the purchases will help the company diversify its asset mix.

Other energy companies in Texas looking to develop acquisitions or mergers should contact knowledgeable Houston attorneys from a local energy law firm with experience offering consultation for asset purchases.

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Infinite possibility, Immediate need – Education in Iraq

By Madeleine White, former teacher and educational writer and Head of Marketing, Whizz Education.

Several years ago, I was working as an English Literature Teacher in at a typical state secondary school in the UK. I remember sitting in a classroom of 16 year old boys, who really didn’t want to be there. They wanted to earn money and didn’t see how a class on Dylan Thomas could help prepare them for this immediate working future. Essentially they couldn’t see the point.

Creating this

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WesternZagros Announces Appointment of Senior Vice President

WesternZagros Resources has announced the promotion of Michael Mossman to Senior Vice President Engineering and Operations.

Simon Hatfield, WesternZagros’s Chief Executive Officer, commented:

“Michael’s wealth of operational and management experience makes him an ideal person to lead our Kurdistan operations. His promotion strengthens our organization and I am sure he will continue to contribute to our future growth.“

Michael Mossman joined WesternZagros as Vice President Operations in June 2012 to lead the Company’s planning, evaluation and execution of its joint venture drilling programs. He will now also assume the broader responsibilities for the engineering group.

Mr. Mossman’s extensive experience encompasses senior operational, technology development and executive management roles across exploration and development projects, having spent 35 years with BP on numerous prolific and challenging international projects.

His most recent position with BP was VP Operations and Country Manager for BP Algeria. His career with BP started in the North Sea and was followed by positions in Qatar, UK, Colombia, Kuwait, Abu Dhabi and Algeria. Mr. Mossman holds a Bachelor of Science in Mechanical Engineering from Bristol University and a Masters of Science (Distinction) in Petroleum Engineering from Imperial College.

Michael Mossman stated:

“It is a very exciting time to be part of the great team at WesternZagros. We have an active program ahead of us as we face the challenge of delivering the aggressive exploration and appraisal plan of the next two years.“

(Source: WesternZagros)

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US Sues KBR over Troop Trailers in Iraq

The U.S. government has filed a civil lawsuit accusing KBR and its Kuwaiti subcontractor of submitting nearly $50 million in inflated claims to install live-in trailers for troops during the Iraq War.

It is alleged that KBR and First Kuwaiti Trading Co. overcharged for truck, driver and crane costs, and misrepresented delays in providing around 2,250 trailers meant to replace tents used by soldiers earlier in the invasion.

Associated Press reports that in one instance the contractors allegedly claimed they paid $23,000 to lease one crane per month when the actual price was about $8,000.

Formerly the engineering and construction arm of Halliburton, KBR employs more than 27,000 workers worldwide.

KBR spokeswoman Marianne Gooch told AP that the company hadn’t yet seen the complaint but that, “We believe the government claims to be baseless and without merit.”

(Source: Associated Press)

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Ahdab Oilfield Hits 140,000 Barrels Per Day

By John Lee.

Aswat al-Iraq reports that crude oil production at the al-Ahdab oil field has reached 140,000 barrels per day.

According to an official statement from Wassit province, the field has 170 operational wells.

The field, in central Iraq, is being developed by Chinese firm CNPC.

(Source: Aswat al-Iraq)

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