Oil Sands & Gas Shale UPDATE

September 2012

TABLE OF CONTENTS

 INDUSTRY ANALYSIS

OVERVIEW

Chimera Energy Places Purchase Order on New System Designed to Safely Replace Hydraulic Fracturing

Supply of Industrial Valves and Gas Pipeline Pumps Valves Vital for Shale Gas Production

AMERICAS

NORTH AMERICA

Waterflooding, the Next Big Profit Phase of the Shale Oil Revolution

U.S.

Phillips 66 Bringing Mississippi Lime Shale Crude to Its Oklahoma Refinery

U.S. Allows Enbridge to Restart Oil Pipeline in Wisconsin

U.S. Shale Oil Boom Spurs More Pipeline Production

An Overview of U.S. Shale Plays

Analyst Says Utica Shale could Produce 500,000 Barrels of Oil a Day

Alcoa Oil & Gas Unit Gets Contract for Marcellus Drill Pipe

BHP Billiton’s U.S. Shale Project Petrohawk Is a Loss in First Six Months

Kinder Morgan Energy Will Invest $90 Mln in Eagle Ford Pipeline Project

The U.S. Oil Industry's Biggest Winners Are Pipeline Builders

U.S. Policy Debate Underway Concerning Natural Gas Exportation

CANADA

Suncor, Total Reviewing Construction of Upgrader and Two New Oil-Sands Mines

Canada Minister Blasts Enbridge Environmental Record and Casts Doubt on $6 Bln Northern Gateway Pipeline Plan

TransCanada to Build $659 Mln Pipeline for Suncor Oil Sands Project

Nexen to Start Maintenance at Long Lake Plant

COLOMBIA

Colombian’s National Hydrocarbons Agency Announces Major Contract Award for Characterization of Shale Core Samples

MEXICO / LATIN AMERICA

Weis S.A. to Oversee Integration of CHMR’s Non-Hydraulic Shale Oil Extraction System

ASIA

AUSTRALIA

Australian Shale Gas Looms after Santos Drill Success

CHINA

Future is Unclear Even as China Moves Forward on Shale Gas

Schlumberger Takes $80 Mln Stake in Chinese Shale Gas

Shell Plans at Least $1 Bln Investment a Year Exploiting China Shale Gas

EUROPE

POLAND

Polish Shale Gas Has a Future despite Exxon Exit

RUSSIA

Horizontal Drilling Boom Under Way in Russia