FX Energy Sets 2009 Capital Budget at $23 Million; Drilling Activity to Continue at 2008’s Elevated Level

FX Energy, Inc. announced it has set its 2009 capital budget at approximately $23 million. The Company expects to fund this budget with cash on hand and cash flow from operations for the year with no increase in debt or equity. The bulk of the capital budget will be devoted to the Company’s operations in the Fences Concession area in Poland. The Company expects to continue growing its reserves... 

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Jura Announces Further Results from Kandra 4D Well, Upcoming Drilling at Badin IV North and Mirpur Mathelo, and Closing of Farmout Transaction

Jura Energy Corporation announced that the Kandra 4D exploration well has been suspended. The Weatherford drilling rig has been released and will be mobilized to the Badin IV North block for drilling of the Jamali Deep well, which is expected to commence prior to the end of the year. The Kandra 4D well was drilled to a total depth of 2229 m. The well targeted three potential hydrocarbon-bearing zones,... 

Epsilon Energy Ltd. Updates Its Shares Purchased to Date Under Its Normal Course Issuer Bid

Epsilon Energy Ltd., announced that it had purchased 1,000,000 of its Common Shares through a combination of open market and block trades at an average cost of $0.83 per Common Share between October 1, 2008 and November 7, 2008. Under terms of the Normal Course Issuer Bid approved by the Toronto Stock Exchange (“TSX”) on September 29, 2008, Epsilon may purchase up to a total of 2,000,000... 

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Apache’s WKAL-C-1X Discovery Tests 4,746 Barrels of Oil Per Day on the West Kalabsha Concession in Egypt’s Western Desert

Apache Corporation reported that the WKAL-C-1X discovery on the West Kalabsha concession established the westernmost production in Egypt’s Western Desert. The well flowed 4,746 barrels of oil and 4.4 million cubic feet of gas per day in a test of the Jurassic Safa formation. The WKAL-C-1X is located in the Faghur Basin, eight miles northwest of Apache’s 2006 Faghur-1 ST1 discovery and... 

Infinity Enters Into Third Forbearance Agreement With Amegy Bank, N.A.

Infinity Energy Resources, Inc., an independent oil and gas exploration and development company, today announced that it has entered into a Third Forbearance Agreement (“the Agreement”) dated October 16, 2008 with Amegy Bank, N.A. (“Amegy”) under the Loan Agreement dated January 9, 2007, as amended and supplemented (the “Loan Agreement”). “We are very pleased... 

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Pacific Rubiales Announces Exploration Success at Rubiales Oil Field

Pacific Rubiales Energy Corp. announced the results of the latest well drilled in its exploration campaign in the Rubiales and Piriri Blocks, located in the Llanos Basin of Colombia. The exploratory well, identified as RUB-147, was drilled in the northwestern area of the Rubiales Block in the “Buffer Zone” (a 5 km strip that surrounds the Rubiales and Piriri Blocks). The petrophysical information... 

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Zoro Mining Executes Earn-In/Option Agreement for Escondida Project Development, Region III, Chile

Zoro Mining Corp. announce that it has entered into an agreement with Michael H. Kobler for potential project joint venture participation by Kobler in Zoro’s Escondida precious metals project located south of the port city of Caldera, approximately 60 km from Copiapo in Chile Region III. The agreement grants Kobler an exclusive 3 month period during which to conduct due diligence at the project,... 

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Samson Oil & Gas Determines Sabretooth Reserves

Samson Oil & Gas Limited announced today that drilling operations have been completed at the Davis Bintliff #1 well. Casing and cementing operations were completed and the drilling rig was demobilized on the 5th of September. A completion rig will be used to perforate the casing and run the necessary completion tubing and packer. This operation is expected to commence on September 18th and will... 

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Universal Completes Purchases of Namibian Oil & Gas Interests

Universal Power Corp. announced that further to its news releases dated June 24, 2008 and July 21, 2008 the transactions to acquire a 30% carried interest in Petroleum Exploration Licence (“EL”) 2815 off-shore Namibia and purchase an additional 70% of Kunene Energy (Pty) Ltd, (“Kunene Energy”) have now been completed. Namibian Oil & Gas Assets On February 26, 2008 Universal... 

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Pacific Rubiales and Ecopetrol Award Construction Contract for Rubiales Oil Pipeline

Pacific Rubiales Energy Corp. announced that it has awarded, in conjunction with Ecopetrol S.A. (Ecopetrol), the construction of the Oleoducto de los Llanos Orientales Pipeline to the Consorcio Rubiales-Monterrey, a joint venture between Spiecapag and Ismocol (collectively, the Contractor). This project will provide the company with a substantial reduction of transportation costs for Rubiales Crude... 

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