U.S. Energy Corp. Announces Initial Production Results From Their Stoddard #1 Well in Texas

U.S. Energy Corp. a natural resources exploration and development company with interests in molybdenum, oil and gas, and real estate assets, today announced that its partner, Houston Energy, L.P. (“HE”) has advised the company that an initial production test from the Stoddard #1 well (first well drilled with HE) in Southeast Texas resulted in approximately 3.9 MMCF and 240 barrels of oil... 

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U.S. Energy Corp. to Drill Third Prospect With Houston Energy L.P.

U.S. Energy Corp., a natural resources exploration and development company with interests in molybdenum, oil and gas, geothermal, and real estate assets, today announced that it has entered into a third Participation Agreement with Houston, Texas-based Houston Energy L.P. to acquire a 25% working interest in an oil prospect located in southeast Louisiana. Houston Energy has estimated that the prospect... 

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U.S. Energy Corp. Announces Positive Drilling Results and Completion Initiative On Its First Well With Houston Energy, L.P.

U.S. Energy Corp., announced that its partner Houston Energy, L.P. (HE), has reached contract depth of 11,100 ft on the first well drilled with HE. Two productive zones have been identified with approximately 35 ft. of net pay and preliminary analysis indicates the well is commercially productive and completion operations are under way. Production from the well is expected to commence within the next... 

U.S. Energy Enters Into Additional Oil and Gas Participation Agreement With Houston Energy L.P.

U.S. Energy Corp., a natural resources exploration and development company with interests in molybdenum, oil and gas, geothermal, and real estate assets, today announced that it has entered into an additional Participation Agreement with Houston, Texas-based Houston Energy L.P. (HE) to acquire a 11.11% working interest in an oil and gas prospect located in Southeast Texas. HE, a privately held independent... 

U.S. Energy Corp. Announces the Spudding of Its First Well With Houston Energy L.P.

U.S. Energy Corp. announced the spudding of its first well under a previously announced Participation Agreement with Houston, Texas based Houston Energy L.P. whereby USE acquired a 10% working interest in an oil and gas prospect located in Southeast Texas. HE is the operator of the project. The well is located in Matagorda County, TX and it is the first of up to three prospects that may be drilled... 

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NEC Secures USD 10 Million Loan

Norse Energy Corp. ASA announce the closing of a USD 10 million loan from clients of Sector Asset Management, which is also the company’s largest shareholder. Maturity is 31.12.2009 and the loan carries an annual interest of 10 percent. The purpose of the loan is to bridge-finance the continued positive development of the US operations and to improve financial flexibility. Norse Energy Corp. ASA... 

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Mechel Announces Deal to Acquire Coking Coal Assets of Bluestone Coal Corp.

Mechel OAO, one of the leading Russian mining and metals companies, announced that its subsidiaries have closed the acquisition, which was reported on April 22 2009, of U.S. entities Bluestone Industries, Inc., a West Virginia corporation, Dynamic Energy, Inc., a West Virginia corporation, JCJ Coal Group, LLC, a Delaware limited liability company and some of its West Virginia affiliates, privately-held... 

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U.S. Energy Corp. Receives Milestone Payment From Thompson Creek Metals Company Inc.

U.S. Energy Corp., a natural resources exploration and development company with interests in molybdenum, oil and gas, geothermal, and real estate, announced that the January 1, 2009 $1 million option payment was paid by Thompson Creek Metals Company USA on January 2, 2009 on behalf of Mt. Emmons Moly Company pursuant to the Exploration, Development and Mine Operating Agreement signed in August 2008. “Thompson... 

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Endeavour Launches Onshore U.S. Exploration Campaign

Endeavour International Corporation announced that the first exploration well of a new onshore exploration program focused in South Texas has resulted in a commercial discovery and the company’s first production in the United States. The initiative reflects a shift in strategy by Endeavour to pursue opportunities with shorter cycle times and lower costs that complement its growing North Sea asset... 

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U.S. Energy Corp. Announces Completion of Its Remington Village Project

U.S. Energy Corp., a natural resources exploration and development company with interests in molybdenum, oil and gas, and real estate, announced the completion of its Remington Village housing complex in Gillette, Wyoming, which is currently 85% occupied. The complex consists of nine 24-plexes, and it is currently generating approximately $205,000 in monthly revenues. “With the project now completed...