Imperial Oil approves Kearl oil sands project

Imperial Oil Limited announced its board of directors has approved the first phase of the Kearl oil sands project, a surface mining operation northeast of Fort McMurray, Alberta. The Kearl project is envisioned to be developed in three phases and could ultimately produce more than 300,000 barrels a day of bitumen. The first phase of the project, expected to begin production in late 2012 with total... 

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Imperial Announces Closing of Debt Settlement Agreement

Imperial Petroleum, Inc., an oil and natural gas exploration and production company headquartered in Evansville, Indiana, announced today that it has closed the settlement agreement with its senior lender and as part of the closing, completed the sale of certain assets to Valley Falls Company for an undisclosed amount. The terms of the sale to Valley Falls are confidential. Jeffrey T. Wilson, President... 

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USCorp Reports Additional Preliminary Results of Phase One Drilling on Its Arizona Twin Peaks Gold Property

USCorp announced preliminary results of Phase One drilling on its Twin Peaks Property. According to a spokesman for Wondjina Institute, one of USCorp’s consulting geologists, “A review of plots of the portable X-Ray Fluorescence (pXRF) soil data in the area of initial USCorp Reverse Circulation drilling (Holes TPRC 2-4) strongly suggests that the high grade silver mineralization may be associated... 

Imperial’s Sarnia refinery to reduce SO2 emissions by more than 50 percent

Imperial Oil announced it will construct a Tail Gas Clean-Up unit at its Sarnia refinery to increase sulphur product recovery and reduce the site’s SO2 emissions. The unit will involve an investment of over $100-million and is expected to take approximately 16 months to build. The new Tail Gas Clean-Up unit uses ExxonMobil Flexsorb(R) technology, a high efficiency process that will increase overall... 

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Acadian Mining announces new resource estimates for the Getty Zinc-Lead Deposit adjacent to Scotia Mine

Acadian Mining Corporation announce new resource estimates for its 100% owned Getty Zinc-Lead Deposit in Nova Scotia. The resource estimates were prepared by Mercator Geological Services Limited, independent consultants to Acadian, and comply with Canadian Institute of Mining, Metallurgy and Petroleum Standards on Mineral Resources and Mineral Reserves: Definitions and Guidelines and disclosure requirements... 

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USCorp Begins Drilling on Its Arizona Twin Peaks Gold Property

USCorp announces the initiation of reverse circulation drilling operations at its Twin Peaks Project in Yavapai County, Arizona as of Monday, September 8, 2008. After receiving several proposals from major drilling companies, USCorp initially selected Layne Christensen Drilling of Chandler, Arizona for Phase I drilling programs at its Twin Peaks and Picacho properties. The extremely heavy rains in... 

Osum Oil Sands Corp Announces $275 Million Financing

Osum Oil Sands Corp, a privately-held company focused on bitumen extraction, today announced that it has closed a private equity financing for a total of CDN$275 million at a price of CDN$10.50 per share. The financing was led by Warburg Pincus LLC and included a substantial investment by Blackstone Capital Partners V LP. Osum is currently the only junior player with a material position in the thermal... 

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Union Gold Inc. Enters Into a Binding Merger Agreement With Shoal Point Energy Ltd.

UNION GOLD INC. a TSXV listed Company, announces that it has today entered into an binding agreement (the “Letter Agreement”) with respect to a proposed amalgamation or plan of arrangement, or other form of merger or business combination (the “Transaction”) with Shoal Point Energy Ltd. (“Shoal Point”). About Shoal Point Energy: Shoal Point Energy Ltd. is a petroleum... 

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Lethal legacy of tank-busting uranium dust

Toxic, radioactive dust released from armour-piercing depleted uranium shells lingers for decades in the environment and contaminates land far from where it is used, according to British scientists. The finding raises fears that communities living in or returning to war zones may be forced to live on contaminated ground, in danger of inhaling the substance or consuming it in food or water supplies. Hundreds... 

Petro-Canada May Stage Oil-Sands Project to Cut Costs

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 conference in Banff, Alberta, sponsored by RBC...