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Random News from Mining Top News

Husky Energy Q4 profit falls to $542 million, revenue slips amid lower gas prices

Husky Energy Inc. says its profit fell to $542 million in the fourth quarter, down 19 per cent from the same time a year earlier, as lower natural gas prices hit the top and bottom lines.
Husky earned $1.28 per diluted share in the three months ended Dec. 31, 2006, down from $669 million or $1.58 [...]

Edge Petroleum Adds Wells to Previously Announced Acquisition; Raises Value of Deal to $385M

Independent energy company Edge Petroleum Corp. on Tuesday said it would acquire additional wells in southeast and south Texas for $65 million as part of a previously announced transaction with a private seller.
The extra wells would bring the total value of the deal to $385 million from $320 million and raise Edge Petroleum’s net well [...]

Sterling Resources Ltd. announces commencement of Cladhan Well in the UK North Sea

Sterling Resources Ltd. report that operations on the Cladhan exploration well on Block 210/29a in the United Kingdom Northern North Sea have commenced, with the arrival of the Transocean 704 semi-submersible rig at the site. The well is targeting an Upper Jurassic prospect and is anticipated to take 35 days to drill. Sterling is the [...]

Tag: cladhan well, sterling resources stewart gibson

Gladstone Pacific Nickel Limited Signing of New Agreements with Clive Palmer – Notice of EGM

The Board of Gladstone Pacific Nickel Limited announces that GPNL has entered into agreements to acquire 100% of the issued share capital of Egidia Pty Ltd (“Egidia”) and Dasines Pty Ltd (“Dasines”) (the “Acquisitions”), companies owned 100% by Mr Clive Palmer, in consideration for the issue of GPNL Shares representing a minimum of 50% of [...]

Professor eyes Nebraska sites for burying coal byproduct

A University of North Dakota professor says the Panhandle and southeast Nebraska could be good locations to bury concentrated carbon dioxide produced by coal- burning power plants.
Edward Steadman is program manager for the Plains CO2 Reduction Partnership, one of seven regional partnerships to study the feasibility of geological sequestration.
In geological sequestration, concentrated carbon dioxide is [...]

Allied Capital Announces New Investment in a Leading Distributor of Supplies and Equipment to the Oil & Gas Industry

Allied Capital Corporation announced that it has completed the recapitalization of Industrial Air Tool , a leading distributor of tools, consumable supplies and equipment to the oil & gas industry. Allied Capital partnered with ZS Fund L.P., a New York based private equity firm, and senior management of IAT in the transaction. Allied Capital invested [...]

Mining projects in the Democratic Republic of Congo (DRC)

AngloGold Ashanti:
The third-biggest gold producer has been exploration drilling for gold at Mongbwalu in northeastern Ituri since 2005. AngloGold says the results so far support historical tonnage and grade estimates of 1.2 million ounces.
It increased its exploration budget for the DRC to $8 million (R58 million) for 2006 from $5 million in 2005.
AngloGold was accused [...]

Champion Bear commences drilling and geotechnical surveys at its Iron Mask property in the Sudbury area

Champion Bear Resources Ltd. has commenced drilling the first of three holes in a planned 1,200 metre drilling program and geotechnical surveys on the southern portion of its Iron Mask property.
The drilling targets two previously identified Sudbury breccia outcrop areas with anomalous Cu mineralization where grab samples assayed 1,140 and 2,000 ppm Cu, respectively, [...]

US gold ends higher in choppy trade, tracks oil

Gold futures finished higher after it seesawed early on Tuesday, recovering some of last week’s five-percent drop, as the precious metal closely tracked volatile oil prices which had plunged to a 1-1/2 year low before paring losses.
Analysts said gold trading might remain choppy and back-and-forth because of thin volume in the beginning of the year.
Benchmark [...]

BPZ Energy Announces Senior Debt Funding of $15 Million from IFC

BPZ Resources, Inc. announced it has received funding of the $15 million tranche of senior debt with the International Finance Corporation (IFC).
The IFC $15 million facility is the first tranche of two credit facilities totaling $215 million. As previously announced, Natixis, a French bank, has received credit committee approval to lead the second tranche of [...]

Tag: corvina oil field