Universal Holdings Closes Acquisition and Enters Domestic North American Oil and Gas Market

Universal Holdings announced that on September 21, 2009, the company purchased 100% of the outstanding membership units of Coronado Acquisitions, LLC. In connection with this acquisition, Universal has satisfied a promissory note issued by Coronado Acquisitions, LLC in the principal amount of $3,250,000 by issuing 2,100,000 restricted shares of its common stock to the Noteholders. Coronado is a development... 

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Pemberton to acquire majority ownership in Panny Well

Pemberton Energy Ltd. announce that it has signed a letter of intent and is finalizing contracts to acquire an additional 50% ownership in the Panny 8-25-095-W5M well in exchange for $50,000.00 and 8,000,000 of PBT common shares. Pemberton currently holds 25% ownership and has held operatorship of this well for 7 years. This acquisition is subject to regulatory approval. Management has reviewed the... 

Marathon Announces Natural Gas Discovery in New Area of Oklahoma

As part of the Company’s targeted expansion into key resource plays of North America, Marathon Oil Corporation announced that it has participated in a successful step-out discovery well on the Brickyard prospect, located in the northeast area of the Anadarko Basin, targeting the Woodford Shale resource play in Canadian County, Oklahoma. The Cana No. 1-15H discovery well was drilled to a true... 

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Gran Tierra Energy Announces US$198 Million 2009 Capital Program

Gran Tierra Energy Inc., a company focused on oil exploration and production in South America, announced a capital spending program of US$198 million for exploration and production development operations in Colombia, Peru, and Argentina for 2009. This budget includes the drilling of seven exploration wells and six development wells in Colombia, in addition to seismic acquisition programs in Colombia,... 

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Purvin & Gertz Announces New Study on Marine Bunkers and Fuel Oil

Purvin & Gertz announces the 2009 release of a new study focusing on bunker and fuel oil markets: Residual Fuel Market Outlook: Impact of Bunker Quality Changes on Marine Fuels & Refining. This timely and comprehensive study is underway and will be completed by the second quarter of 2009. It will present an analysis of the issues, balances and economics of bunker fuel, stationary fuel oil... 

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Oil Purification Systems Establishes New Oil and Gas Business Unit

Oil Purification Systems, the leader in fluid cleaning technology, today announced the formation of a new Oil and Gas Business Unit, and the appointment of Steve Carroll as president of the group. The newly formed business unit was established to provide additional support for OPS’ current and prospective customers in the oil and gas industry. Carroll joins OPS as president of the Oil and Gas Business... 

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Verenex submits Final Appraisal Report and preliminary development plan for A1-47/02 Field in Libya

Verenex Energy Inc. announce that it has submitted a Final Appraisal Report for the A1-47/02 Field to the Area 47 Management Committee which includes representatives of Verenex, Medco International Ventures Limited and the Libyan National Oil Corporation (“NOC”). The Report recommends that the field be declared commercial as a first step in advancing a 50,000 bopd (gross) Phase 1 development... 

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E-MetaVenture Joins Franklin Mining on GTL Project

Franklin Mining, Inc. Chairman and CEO William A. Petty is pleased to announce that E-MetaVenture, Inc. has joined Franklin in the capacity of advisor on technical and commercial matters as related to GTL, CTL, and other related gas processing technologies. “E-MetaVenture, Inc, Houston, Texas provides independent consulting, design, and training services to the refining, gas processing and allied... 

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Blugrass Announces LOI for Acquisition

Blugrass Energy Inc. has signed a Letter of Intent to acquire proven reserves of approximately 500,000Bbls of oil and approximately 1 Bcf of natural gas in Eastern Kentucky. Total price to be paid for the reserves is $759,000 plus 350,000 shares of restricted stock. It is anticipated the transaction will close prior to the end of October. Leslie Schaefer, President, offered the following comments on... 

Coastal Media Changes Business Focus, Name, Appoints New Officers, New Symbol

Coastal Media announced several actions it has recently taken including changing its name to Blugrass Energy Inc. and changing its stock symbol to (OTCBB:BLUG). Blugrass also announced the appointment of Leslie Schaefer as President and Director and Grace Sutherin as Chief Administrative Officer. Blugrass Energy corporate offices will be located in Lexington, Kentucky. Blugrass Energy is a early stage...