Oil Search (ASX:OSH) is an oil and gas exploration and development company that has been operating in Papua New Guinea since 1929 and is listed on the ASX 200.

The group now explores, develops and produces oil and gas in Papua New Guinea and Australia, not to mention Yemen, Libya, Iraq and Tunisia.

Oil Search released its fourth quarter production figures today, which showed it produced 1.64 million barrels of oil in the Q4 up 10% on Q3, but down 14% from the year earlier.

The company said that it produced 6.69 million barrels of oil in CY11 compared to 7.66 million in CY10.

However OSH said that its revenue increased to US$654.3 million in CY11 from US$517.3 million in CY10, helped in part by a rise in the average realized price for oil.

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Santos (ASX:STO) explores for and produces natural gas, crude oil, condensate, naphtha and liquid petroleum gas. The Company conducts major onshore and offshore petroleum exploration activities at oil and gas fields in Australia (Cooper/Eromanga Basins), the United States (Gulf of Mexico), Indonesia and Papua New Guinea. STO is Australian based and is member of S&P/ASX 200.

Santos revealed its fourth quarter production was down 9% on-year, whilst revenue was up 25% in the same period to $750 million.

The company also reported full year production down 5%, with a 14% increase of revenue to $2,530 million.

STO reaffirmed the 2012 guidance provided in November, which was a production range of 51-55 million barrels of oil.

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Paladin Energy Ltd (ASX:PDN) primarily explores for uranium in Australia and Southern Africa.

Shares in energy stock Paladin Energy have soared today after the company announced a 47% increase in first quarter production compared to the previous quarter.

PDN also said that spot price for uranium is beginning to show signs of strengthening as new demand emerges.

Paladin also re-affirmed its full year production target and earnings guidance, making it one of the days hot stocks.

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Whitehaven Coal Limited (ASX:WHC) is a coal producer in the Gunnedah Basin. The Company is engaged in the development and operation of coal mines in New South Wales. Whitehaven operates five mines in the region: Narrabri (underground), Rocglen (open cut), Sunnyside (open cut), Tarrawonga (open cut) and Werris Creek (open cut). The company is listed on the Australian Stock Exchange and is part of the S&P/ASX 200.

Whitehaven Coal and Aston Resources have reached an agreement that will create the largest strictly coal producer in Australia.

The deal, in which WHC offers 1.89 of its shares for each of Astons share, will create a company with a market value of approximately $5.1 billion.

The merger which has been billed by the companies as merger of equals has the unanimous support of both Aston’s and Whitehaven’s boards.

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AWE Limited (ASX:AWE) is a small oil and gas explorer and producer. The majority of its operations are located in Australia and New Zealand, though the company is becoming increasingly interested in international operations.

The company’s major projects are the onshore Casino gas field (Otway Basin, SA), Cliff Head project (Perth Basin, WA), the BassGas project (VIC & TAS), and now in the Perth Shale Gas Basin. AWE is listed on the Australian Stock Exchange and is a member of the S&P/ASX 200.

AWE today agreed to sell a stake of its Bass Basin gas project to Toyota Tsusho for a cash consideration of $80 million.

The company stating that the sale will inject cash into the balance sheet, and also reduce the risk-exposure to the capital expenditure requirements for the Bass Basin project.

AWE also announced a special $0.05 fully franked cash dividend.

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Oil Search (ASX:OSH) is an oil and gas exploration and development company that has been operating in Papua New Guinea (PNG) since 1929 and is listed on the S&P/ASX 200.

OSH now explores, develops and produces oil and gas in Papua New Guinea and Australia, not to mention Yemen, Libya, Iraq and Tunisia.

Oil Search said the large gas export venture in Papua New Guinea with Exxon Mobil has had a budget increase of US$700 million.

The company announced today that the increase was due to the impact of the high Australian dollar.

Oil Search said that it has ample liquidity to increase its equity contribution to the project.

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Paladin Energy (ASX:PDN) is a uranium miner, with projects located in Africa and Australia.

PDN’s long-term goal is to establish itself as a uranium producer through identifying, acquiring and evaluating advanced uranium projects.

Today, PDN completed a $68.2 million institutional placement, priced at $1.20 per share.  This represents an 8.4% discount to its last closing price.

The group said the raising, combined with future operating cash flow and asset sales, will give it the financial flexibility to achieve its objectives.

The stock has been smashed after coming out of trading halt, and it has so far been the worst performer in the Australian share market.

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Bandanna Energy (BND) is the largest Australian thermal coal resource of any ASX listed explorer.

The group’s market capitalisation of around $614 million places BND in the top 25% of ASX listed coal companies.

The group is essentially an emerging coal explorer/developer which is positioned for significant growth.

BND confirmed last week that it is currently looking for funding to help complete the development of its key assets.

In a strategic review update released last Wednesday, BND said it would also be willing to consider external partners acquiring an interest in its assets.

As such, it has invited non-indicative bids from a number of interested parties, with the bids due for submission by the close of business on 4 May, 2011.

Bandanna Energy was one of the market’s hot stocks in the days leading to the update.

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