Hyperdynamics Corporation announced that its Louisiana based oil production operations reported gross oil sales of approximately 15,592 barrels for the 4th quarter ending June 30, 2008. The Company’s revenue derived from this production is approximately $1,260,000. This sets a new production record and represents the highest quarterly revenue ever for the company.
June oil sales held [...]

Petrosearch Energy Corporation announced that its wholly owned subsidiary, Barnett Petrosearch L.L.C., has agreed to sell its 5.54455% limited partnership interest in DDJET Limited LLP (“DDJET”) to Cinco County Barnett Shale LLC (“Cinco”), one of the other two partners in DDJET, for a cash purchase price of $36,000,000. Cinco paid to Barnett Petrosearch $1,800,000 as [...]

Hyperdynamics Corporation (AMEX:HDY) announced today that its Louisiana-based operations reported May gross oil sales in excess of 5,200 barrels as production continues to be constrained by record setting floods being experienced along the Mississippi River. Although the floods have hampered production for months, the company reported that it received an average price in excess $123 [...]

Shares of ethanol producers dropped after a Citi Investment Research analyst said some small to mid-size companies might have to shut down soon after severe flooding in the Midwest boosted corn prices.
Analyst David Driscoll said the floods caused “irreparable damage to this year’s crop” and pushed prices up, harming ethanol margins.
“As a result of [...]