The Marcellus Shale Coalition Issues Statement Regarding Support for Responsible Natural Gas Development in Pennsylvania
The Marcellus Shale Coalition (MSC) today underscored its commitment to economic development, environmental protection, and best management practices in the responsible development of Pennsylvania’s vast natural gas resources. “There are a lot of groups and organizations interested in learning more about the Marcellus Shale — beyond the vast economic opportunities, to include an understanding...
Echo Energy Canada Inc. report indicates reductions in oil and gas reserves
Echo Energy Canada Inc. is providing an update on the independent reserves assessment and evaluation of its oil and gas reserves effective December 31, 2008. The reserves report was prepared by GLJ Petroleum Consultants Ltd., an internationally recognized leader in oil and gas asset evaluations, pursuant to recommendations of National Instrument 51-101. The reserve report received on Friday by the...
Saxon Oil Receives New Field Designation in New Mexico
Saxon Oil Company Ltd. has received a new field designation from New Mexico regulatory authorities for its Eumont State No. 1 oil discovery in Lea County, New Mexico. New Mexico designated the Eumont well as the discovery well in the Urssey Tank: Yates-Seven Rivers Pool. Special pool rules are in effect from the date of first production in May 2008, which set allowable production at 350 barrels of...
Repsol Now Applying Advanced Seismic Imaging Technology to Energy Exploration in Gulf of Mexico and Brazil
Repsol YPF, an international integrated oil and gas company operating in over 30 countries, today announced that the company’s advanced seismic imaging project — Kaleidoscope — has begun exploration operations in the Gulf of Mexico and Brazil. Kaleidoscope is powered by reverse-time migration (RTM), a sophisticated subsurface imaging tool whose potential is accepted by the oil industry,...
United Reef Update on General Reef Investment
United Reef Limited announce that it has been provided with a report from General Reef Corporation updating GRC’s recent drilling activity and other corporate matters. United Reef owns a 40% equity interest in GRC. GRC has a farmin and option agreement with EnCana Oil & Gas Partnership for certain farmin rights on 40.6 sections (25,000 acres) of freehold petroleum and natural gas rights...
Curtis Represents KMG in Agreements Concerning Future Development of Kashagan Field, World’s Largest Oil Discovery in 30 Years
Curtis, Mallet-Prevost, Colt & Mosle LLP represented KazMunayGas (KMG), the national oil company of Kazakhstan, in its successful negotiations with the North Caspian Sea consortium on the detailed agreements for the future development of the Kashagan field. The Kashagan field is reported to be the world’s largest oil discovery in at least three decades. The North Caspian Sea consortium consists...
Coastal Petroleum Company Continues Completion Efforts on Shallow Gas Prospect Well and Announces Plans
Phillip Ware, President and Chief Executive Officer of Coastal Caribbean Oils & Minerals, Ltd. , announced today that the Company’s wholly owned subsidiary, Coastal Petroleum Company, and Western Standard Energy Corp. are continuing completion efforts on the shallow gas prospect well drilled last year on Coastal’s Valley County, Montana Leases. The Company also announced the resignation...
Saxon Oil Announces Execution of Definitive Agreement in Picogina Acquisition
Saxon Oil Company Ltd. announces that it has executed a definitive agreement with Energy (CG) Ltd. (“Energy”) regarding the proposed purchase of 100% of the issued and outstanding shares (the “Acquisition”) of Picogina Holdings BV (“Picogina”) and amended the terms of the non-brokered private placement (the “Offering”) of Saxon units previously announced...
Denbury Recommends Rejection of Mini-Tender Offer by TRC Capital Corporation
Denbury Resources Inc. announced that an unsolicited “mini-tender” offer is being made by TRC Capital Corporation to acquire up to 4 million shares of Denbury common stock from shareholders at a price of $13.50 per share. This price represents approximately a 4.2% discount below Denbury’s closing price on the New York Stock Exchange on October 6, 2008, the day prior to the date the offer commenced....
Mariner Energy, Inc. Adopts Stockholder Rights Plan
Mariner Energy, Inc. announced that its Board of Directors has adopted a Rights Plan providing for a dividend distribution of one Right for each outstanding share of Mariner’s common stock to holders of record at the close of business on October 23, 2008. The Rights Plan would be triggered if an acquiring party accumulates 10% or more of Mariner’s common stock and would entitle holders...
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Philex Gold Receives Interim Order for Transaction With Philex Mining Corporation
Philex Gold Inc. announced that it has obtained an interim order from the Ontario Superior...
American Mining Corporation Signs LOI to Form Production Joint Venture on Terra Gold Project, Alaska
American Mining Corporation announce that it has signed a binding letter of intent to enter...
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