Sheffield Resources Ltd. (SLDOF) reports it has entered into an option agreement to acquire the 3,709-hectare (14.32 square-mile) Golden Loon nickel/cobalt property from Tilava Mining Corporation. The Golden Loon property is located approximately 4 miles west of Little Fort, British Columbia (approximately 50 miles north of Kamloops), and is accessible by government-maintained secondary roads leading [...]

Petro-Canada, the third-largest oil company in Canada, may stage development of its Fort Hills oil- sands project to reduce labor costs, a company executive said.
Dividing the project into two parts could cut demand for workers to 8,000 from the 12,000 currently estimated, Neil Camarta, senior vice-president of oil sands for the company, told an energy [...]

Tidelands Oil & Gas Corporation, a midstream oil and gas project development company, announced the appointment of Terry Mitchell as the new Vice President of Esperanza Energy LLC, reporting directly to James B. Smith, Tidelands’ President and Chief Executive Officer. Esperanza Energy LLC is a 100% wholly owned subsidiary of Tidelands focused exclusively on developing [...]

Oil and gas exploration and production company Gasco Energy Inc. said Thursday its bank group agreed to increase the company’s borrowing capacity to $37 million under its $250 million revolving line of credit.
The borrowing base previously was $25 million.
Under the agreement with the JP Morgan-led banking group, the borrowing base will be evaluated semiannually.
The company [...]

Wavefront Energy and Environmental Services Inc. (”Wavefront”), a leader in technology development and implementation for improved oil recovery and optimized groundwater remediation is pleased to announce that it has reached a licensing agreement with Gas and Oil Enhancement Tools, LLC a Phoenix, Arizona company (”GOET”) for a secondary oil recovery method based on seismic wave [...]

Empowering geoscientists with more deskside high-performance computing power could increase oil and gas production overall, reports a new survey released today by Microsoft Corp. at the Microsoft® 2007 Global Energy Forum.
The Microsoft High-Performance Computing Oil and Gas Industry Survey 2007, sponsored by Microsoft and conducted by Houston-based Gelb Consulting Group Inc., shows a trend [...]

Canadian oil and gas producer TransGlobe Energy Corp. said Thursday its fourth-quarter profit grew 9 percent, benefiting from increased production in Yemen and Canada.
Quarterly earnings rose to $4.7 million, or 8 cents per share, from $4.3 million, or 7 cents per share, in the prior-year period. Oil and gas revenue grew to $27 million [...]

Houston - Accounting, tax and business advisory firm Grant Thornton LLP announced recently that, according to its 2007 Survey of Upstream U.S. Energy Companies, the top concern among energy executives is the uncertainty of natural gas and oil prices in the near future.
More than 80 companies (40 percent public and 60 percent private) responded to [...]

BPZ Energy, Inc. announced the results of tests conducted on the CX11-21XD well in the Corvina field located offshore northwest Peru. The well tested at a rate of 40 million cubic feet per day (MMcfpd) of natural gas and 3,150 barrels of crude oil per day (bopd).
A total of four Drill Stem Tests (DST) were [...]

China National Petroleum Corp, the country’s largest oil and gas producer, plans to set up a joint venture with Yanchang Petroleum Group to explore for oil in northwestern Shaanxi province, the official Xinhua news agency reported.
Li Xiaodong, director of the Shaanxi Development and Reform Commission, was quoted as saying that the two parties each plans [...]