Norsk Hydro Cuts Oil and Gas Production
Norsk Hydro ASA cut its 2006 oil and gas production target by 5 percent, or 30,000 barrels per day, on Friday, mainly due to delayed production. The Oslo-based petroleum and light metals group now expects an average daily production of 585,000 barrels of oil equivalent, down from 615,000 barrels. Oil equivalents measure the energy content, rather than volume, of oil and natural gas. Norsk Hydro said...
American Oil Hires New Finance Chief
American Oil & Gas Names Joseph B. Feiten Chief Financial Officer, Effective Immediately American Oil & Gas Inc., an oil exploration and production company, on Friday said it named Joseph B. Feiten as its chief financial officer, effective immediately. He replaces Andrew Calerich, 41, who will remain as president. Feiten, 54, was chief financial officer of gas exploration and production company...
Radial Energy Announces Texas Oil and Gas Prospect Acquisitions
Radial Energy Inc. (OTC BB:RENG.OB )is pleased to announce that it has entered into an agreement to acquire a working interest in three separate exploratory oil and gas prospects located in Cherokee County, Texas. The Company has agreed to purchase the prospects for the sum of $700,000 with the vendor retaining a 4% Overriding Royalty. The payment covers the Company’s share of the estimated capital...
Friendly Energy Corp. Oil and Gas Drilling Subsidiary Established
Friendly Energy Corp. (Other OTC:FDEG.PK) announces today a correction of the press release of June 13th, 2006, previously announcing the company had received a drilling permit for the Asher No. 1 joint venture prospect was effective June 15th, 2006, which was reported incorrectly. The company’s joint venture partner and operator, D-Mil Production Inc., has received the operating permit effective...
CanArgo Energy Corporation: Ninotsminda Gas Sales Agreement Signed
CanArgo Energy Corporation (“CanArgo”) (OSE: CNR) (AMEX: CNR) today announced that its wholly owned subsidiary company Ninotsminda Oil Company Limited (NOC) signed a gas sales agreement for the supply of gas from the Ninotsminda Field in Georgia. CanArgo also gave an update on its operations in Georgia. Gas Sales Agreement All gas produced from the Ninotsminda Field with the exception of...
Remington Oil and Gas Corporation Announces Approval and Adoption of Merger Agreement
Remington Oil and Gas Corporation (NYSE: REM) announced that at a Special Meeting of Stockholders today the merger agreement between Remington Oil and Gas Corporation and a wholly owned subsidiary of Helix Energy Solutions Group, Inc. (Nasdaq: HELX – News) was approved and adopted. The merger is anticipated to be effective as of July 1, 2006. Friday, June 30, 2006, will be the last day for trading...
Canada Southern Petroleum Agrees to Higher Offer from Canadian Oil Sands
The Board of Directors of Canada Southern Petroleum Ltd. (“Canada Southern” or “the Company”) (TSX: CSW) (NASDAQ: CSPLF) today announced that it has agreed to terms on a revised offer from a wholly owned subsidiary of Canadian Oil Sands Trust (“Canadian Oil Sands”) (TSX: COS.UN) under which Canadian Oil Sands will acquire all of the outstanding common shares of Canada...
Airborne Radiometric Survey Starts In Central Mineral Belt
Universal Uranium Ltd. (TSX Venture: UUL) – is pleased to announce that Fugro Airborne Surveys of Toronto, ON, have begun the approximately 10,000 line km helicopter borne radiometric and magnetic survey of the Central Mineral Belt (CMB) and Seal Lake areas of Labrador. The surveys are based out of Postville on the coast and a camp on Seal Lake for the interior. The 4,963 claims, totaling approximately...
Silver Spruce Resources Inc.: Airborne Radiometric Survey Starts in Central Mineral Belt, Labrador
Silver Spruce Resources Inc. (TSX VENTURE:SSE – ; FWB:S6Q) is pleased to announce that Fugro Airborne Surveys of Toronto, ON, has begun the airborne radiometric/magnetic surveys on the Silver Spruce properties in the Central Mineral Belt and the Seal Lake area in Labrador. The survey totals approximately 10,000 line kilometres. Compilation work by Silver Spruce has shown that the properties cover...
Goliath Resources to Acquire Three Canadian Mineral Properties
Goliath Resources Inc (Other OTC:GHRI.PK) is pleased to announce it has signed a Letter of Intent to acquire three Canadian Mineral Properties. Goliath’s main focus will be the Mazenod Lake project which is located in the North West Territories. Under the terms of the LOI, Goliath will have the right to earn a 75% interest in this project. Geophysics an the IP survey at Mazenod Lake have identified...
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