Gold Demand Surges as Investors Turn to Wealth Preservation

Fears of future inflation and ongoing financial uncertainty led investors to continue to flock to gold in the first quarter of 2009, seeking out its proven wealth preservation qualities. Total demand for gold in Q1’09 rose 38% year on year to 1,016 tonnes, representing a 36% rise in value terms to US$29.7bn. According to figures published today by World Gold Council (WGC) in its Q1’09 Gold Demand... 

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Suncor Energy Board approves 2009 capital spending plan

Suncor Energy Inc. announced that its Board of Directors has approved a $6 billion capital spending plan for 2009. Approximately $3.6 billion in spending, or about 60% of the total, is targeted to Suncor’s Voyageur oil sands growth strategy. “Following a thorough review in light of current financial market conditions, we’ve modified our capital plans for 2009, reducing targeted spending... 

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Capital Oil & Gas, Inc. Reaches an Agreement to Acquire a Major Petroleum Transporter

Capital Oil & Gas, Inc. announces that at the close of business yesterday it has agreed to acquire a Ft. Lauderdale based petroleum/diesel transportation company with clients throughout the State of Florida. The petroleum/diesel transportation company that will be acquired also has a branch/depot in Tampa, Florida and delivers to major clients such as BJ Stores and Major Retail Service Stations;... 

Dominion, Antero Resources Amend Marcellus Shale Rights Agreement to 114,000 Acres

Dominion announced that it is amending its agreement with Antero Resources, and will assign drilling rights to 114,259 acres in the Marcellus Shale prospect to Antero for about $347 million, or about $3,037 per acre, a higher value per acre than the prior agreement. Dominion expects to close the amended agreement on September 30. The amount assigned is reduced from $552 million for 205,000 acres because... 

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Valero Energy Corporation Employs DTN TABS for Rack Marketers

DTN, a leading business information services company focused on agricultural, energy and weather business markets, today announced that Valero Energy Corporation, will use industry-leading DTN TABS(TM) credit and product allocation controls for its rack marketer customers. Valero’s use of DTN TABS will enable rack marketers to gain complete control over what they are selling and the credit they... 

Duluth Metals progress report on the Nokomis Deposit

Duluth Metals Limited provide a progress report on activities currently underway and planned for the Fourth Quarter, 2008. The Company’s cash position remains strong with approximately CAD$16 million cash on hand. The Company is currently in the process of final bid selection for choosing the engineering consultants to complete the Nokomis Deposit Pre-Feasibility Study. The Company expects to... 

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ConocoPhillips and Origin Energy to Create Long-Term Australasian Natural Gas Business

ConocoPhillips and Origin Energy announced their plan to create a long-term Australasian natural gas business focused on coal bed methane production and liquefied natural gas (LNG) processing and sales. The transaction is conditioned upon approval from Australia’s Foreign Investment Review Board and, if required as a result of an outstanding offer from BG to purchase all outstanding shares of Origin... 

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TransAtlantic Petroleum Corp. Announces Change in Strategy and Capital Infusion

TransAtlantic Petroleum Corp. announced that it is changing its operating strategy from a prospect generator to a vertically integrated project developer. To execute this new strategy, the Company has agreed in principle to acquire Longe Energy Limited (“Longe”), an entity associated with the Company’s Chairman, N. Malone Mitchell 3rd, in conjunction with a private placement that... 

Inergy Completes Acquisition of US Salt

Inergy, L.P. announced that its wholly owned subsidiary, Inergy Midstream, LLC, has closed the acquisition of US Salt, LLC. As previously disclosed, US Salt is an industry-leading solution mining and salt production company located in Schuyler County, New York, between Inergy’s Stagecoach and Steuben County natural gas storage facilities. US Salt’s operations are complementary to Inergy’s existing... 

Harry Winston Diamond Corporation Announces Diavik Diamond Mine Second Quarter 2008 Update

Harry Winston Diamond Corporation (TSX: HW; NYSE: HWD) announced that the operator of the Diavik Diamond Mine has provided the following update on work during the second quarter of 2008 at the Diavik Diamond Mine: Ore production accelerated in the second quarter in line with plan due to improved operating conditions. Ore was mined predominantly from the A154 South kimberlite pipe, with smaller tonnages...