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Random News from Mining Top News

Allied Energy Announces Plans to Acquire Additional Working Interests in Pawnee County, Oklahoma

Allied Energy, Inc. provided the following update regarding its plans to acquire additional interests in Pawnee County, Oklahoma.
The Company is currently finalizing plans to acquire an additional 20% working interest in the Foust #7-9, #8-9, #9-9 and #10-9 well sites and the lease located in Pawnee County.
The Company believes there exists production potential in this [...]

National Coal Receives Credit Facility Allowing Borrowings of Up to $10 Million

Central Appalachian coal producer National Coal Corp. received a credit facility with Guggenheim Corporate Funding LLC that provides borrowings of up to $10 million.
On Thursday, National Coal borrowed an initial $5 million to pay costs of the transaction and to fund general operating and working capital needs. National Coal may borrow the remaining $5 million [...]

Texas coal-fired plants concern Oklahoma citizens

DURANT ”” Senator Jay Paul Gumm, and the Citizens Organizing for Resources and Environment, spoke out against the construction of the coal-fired power plant that TXU purposes to build in Fannin County. Experts in several scientific and health fields spoke to approximately 60 people in the Fine Arts Building at Southeastern Oklahoma State University [...]

Ashton Mining of Canada Inc.: Sample from North Anomaly Dyke Returns 91 cpht

Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. , is pleased to report an estimated diamond content of 91 carats per hundred tonnes (“cpht”) for a 18.4 tonne sample collected from the North Anomaly kimberlite dyke on the Foxtrot property in north-central Quebec. Additionally, summer exploration drilling conducted by Ashton and [...]

Chevron Sells Fuels Marketing Business in Nigeria

Chevron Corporation announced that its subsidiary Chevron Africa Holdings Limited has agreed to sell Chevron Nigeria Holdings Limited to Corlay Global S.A, a Panamanian company owned by an African-based consortium composed of MRS Holdings Limited and Petroci Holdings. Chevron Nigeria Holdings Ltd. is a Bermudan company that holds 60 percent of the issued shares of [...]

Tag: acquisition chevron nigeria holdings, chevron approved

Grey Wolf, Inc. to Present at Enercom’s 2008 The Oil & Gas Conference(R)

Grey Wolf, Inc., announced today that Mr. David W. Wehlmann, Executive Vice President and Chief Financial Officer, will make a presentation at 11:45 a.m. MT (12:45 p.m. CT) on Thursday, August 14, 2008 during Enercom’s 2008 The Oil & Gas Conference®.
Interested parties may listen to the presentation live over the Internet at www.gwdrilling.com. Please go [...]

Wallbridge Mining Company to Continue Exploration at Pele Mountain’s Sudbury Nickel Project

Pele Mountain Resources Inc. announced that Wallbridge Mining Company Ltd. has fulfilled its option commitment at Pele’s Sudbury Nickel Project through 2008 by spending an additional $300,000 on qualifying exploration expenditures in 2008 and by recently issuing an additional 400,000 of its common shares to Pele. Wallbridge is expected to complete its earn-in of a [...]

Tag: top nickel producing companies, monetizing mining equipment, global coal exploration spending by region, pele mountain rare earth elements, top 10 companies in sudbury

Rancher Energy Corp. Announces Extension and Revised Terms of GasRock Loan

Rancher Energy Corp. announced it has negotiated a six-month extension of its debt financing with GasRock Capital LLC, and as part of the extension has agreed to pay down $2.24 million of principal, resulting in a new loan balance of $10 million.
The loan remains a senior obligation at an annual interest rate of 12% or [...]

Energy Dept. and IEA Lower Oil Demand Outlook

The Energy Department and the Paris-based International Energy Agency both lowered their global oil consumption forecasts for this year amid surging prices, but said demand for oil and petroleum products is accelerating in parts of the developing world.
In its monthly short-term Energy outlook, the Energy Department’s Energy Information Administration said oil consumption is falling more [...]

Anhui natural gas deal propels China Oil stock

Shares of China Oil and Gas Group (0603) surged as much as 50 percent Friday after it announced it has agreed to buy Vast China Group, which has won approval to invest in, construct and operate a natural gas station in Maanshan, Anhui province.
The company said it agreed to buy the entire stake in Vast [...]