Gentor Resources Inc. closes acquisition of APM Mining Limited

GENTOR RESOURCES, INC. announce the acquisition of APM Mining Limited pursuant to the closing under the Share Exchange Agreement dated February 23, 2010 between the Company, APM Mining and Arabian Peninsula Projects Ltd. As a result of the acquisition, the Company, through its wholly owned subsidiary, APM Mining, holds the earn-in rights to the Block 5 and Block 6 copper exploration projects located... 

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Chesapeake Energy Corporation Announces $2.25 Billion Barnett Shale Joint Venture with Total E&P USA, Inc.

Chesapeake Energy Corporation announced the execution of an agreement for a $2.25 billion joint venture with Total E&P USA, Inc., a wholly-owned subsidiary of Total S.A. (NYSE:TOT, FP:FP) (“Total”), whereby Total will acquire a 25% interest in Chesapeake’s upstream Barnett Shale assets. Total will pay $800 million in cash at closing and will pay an additional $1.45 billion by funding 60%... 

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Exploration for Rubies, Gold and Marble in Cambodia

Terra Energy & Resource Technologies, Inc., a natural resource exploration services technology company, announces that the Company completed two projects for gold, rubies and marble exploration in Cambodia utilizing its innovative proprietary technology STeP®. Both service contracts were awarded to Terra by The Millennium International Group, LLC, which has subsequently requested the Company... 

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Southwest Resources Announces Closing of Transaction With Duke Mining Company

Southwest Resources, Inc. announced that the Company has completed its purchase of the assets of Duke Mining Company Inc., (“Duke”) for the assumption of $823,706 of Duke’s outstanding debt and obligations. The assets purchased include the lease arrangement for the 640 acre mining claim in Utah and the respective equipment, fixtures and furniture associated with the claim. Southwest... 

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ProspEx Resources Announces Kakwa Horizontal Well Results and Establishment of New Operating Area in West Central Alberta

ProspEx Resources Ltd. is providing an operational update with respect to certain projects within its 2009 capital program. “Flow test results from our East Kakwa horizontal well have exceeded expectations, validating the concept of a repeatable horizontal drilling development on our lands”, said John Rossall, President and Chief Executive Officer. “I am also excited to announce that... 

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Gateway Energy Acquires Net Profits Interest in Madisonville Gas Field

Gateway Energy Corporation announced that it has acquired a 9.1% net profits interest in certain leases and wells in the Madisonville, Texas gas field for $762,450. The effective date of the acquisition is September 1, 2008. The NPI covers production from certain identified leases and wells owned by operated by Redwood Energy Production, L.P. (“Redwood”) in the Madisonville Field insofar... 

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Sabretooth Energy Ltd. completes asset sale and acquires 71% of HFG Holdings Inc.

Sabretooth Energy Ltd. announce that, further to its press release of November 25, 2008, it has today completed the sale of certain assets to HFG Holdings Inc. Sabretooth sold 59 net sections of Montney petroleum and natural gas rights, and certain wells and seismic access and interpretations to HFG in exchange for 156,546,590 common shares of HFG at a deemed price of $0.20 per share. The assets sold... 

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Gasco Energy Extends Credit Facility; Provides Update on Gate Canyon Test

Gasco Energy, Inc. announced an amendment to its Credit Agreement and provided an interim operations update on its Riverbend Project in Utah’s Uinta Basin. On December 10, 2008, the Company closed on an amendment to its Credit Agreement led by JPMorgan pursuant to which the maturity date of the facility was extended one year to March 29, 2011. The interest rate pricing grid was increased 0.25%... 

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Cabot Oil & Gas Provides Marcellus Update, East Texas Waiting on Frac Proppant

Cabot Oil & Gas Corporation announced that its Marcellus initiative in northeastern Pennsylvania is gaining momentum and is currently producing over 13 Mcfe per day. Most recently, Cabot completed its first Marcellus horizontal well with a measured depth of 8,925′ and a horizontal leg at 2,000′ using a six-stage frac. The result was a 24-hour average initial production rate of 6.4... 

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Beacon Redevelopment Industrial Corporation Reviews Initial Consultation Regarding its Natural Gas Rights and Reserves

Beacon Redevelopment Industrial Corporation has reviewed a summary of its initial consultation regarding its natural gas rights of its Westmoreland property. Beacon, along with its geological consultants, are continuing the evaluation of the company’s resources at that location. The initial review revealed that it appears there may be a more feasible way to install modern gas well operations... 

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