Vinccler Oil and Gas, C.A. , the wholly-owned subsidiary of PetroFalcon Corporation , announced that its 40%-owned joint venture, PetroCumarebo, S.A. (”PetroCumarebo”), confirmed the presence of oil and gas reservoirs with the LV-11 development well. PetroCumarebo subsequently suspended drilling operations and is in the process of skidding the rig for a re-drill of the [...]

A dispute between Belarus and OAO Gazprom that threatens to interrupt gas supplies to the European Union next week may lead to a more integrated EU energy policy and greater diversification of energy sources.
Gazprom changed a June demand that Belarus pays four times more for its gas next year into a request this week [...]

CanArgo Energy Corporation (”CanArgo”) (OSE: CNR) (AMEX: CNR) today announced that its wholly owned subsidiary company Ninotsminda Oil Company Limited (NOC) signed a gas sales agreement for the supply of gas from the Ninotsminda Field in Georgia. CanArgo also gave an update on its operations in Georgia.
Gas Sales Agreement
All gas produced from the Ninotsminda Field [...]