Repsol YPF, an international integrated oil and gas company operating in over 30 countries, today announced that the company’s advanced seismic imaging project — Kaleidoscope — has begun exploration operations in the Gulf of Mexico and Brazil.
Kaleidoscope is powered by reverse-time migration (RTM), a sophisticated subsurface imaging tool whose potential is accepted by the oil [...]

BPZ Resources, Inc. announces the oil test results from the CX11-20XD well in the Corvina field of the offshore Block Z-1 in Northwest Peru. The Company completed two drill stem tests (DST) on four sets of oil sands in the well testing a cumulative flow rate of 10,268 barrels of oil per day (bopd).
Tests on [...]

CREDO Petroleum Corporation reported that its financial condition is sound and that the company is well positioned to capitalize on opportunities that may arise due to recent events in the U.S. and world financial markets.
In July CREDO completed a $16,675,000 stock sale. Working capital is approximately $27,400,000, consisting primarily of cash and short term investments, [...]

Franklin Mining, Inc. Chairman and CEO William Petty announces that, based on a 1997 estimated reserve value, at a 10% discount rate, prepared by Harper and Associates for $20.00 per barrel oil, the proven oil reserves and proven undeveloped oil reserves contained in the Waterflood lease have an approximate current value of $6.0 million.
An announcement [...]

BPZ Resources, Inc. announced today that Natixis, a major French bank, has obtained approval from its Credit Committee to arrange and underwrite the $200 million tranche of the $215 million reserve-based lending facility, under the terms and conditions outlined in the Mandate Letter dated August 19th, as previously disclosed by the Company. As previously announced, [...]

ABC Funding, Inc. announced that it closed its acquisition of all of the outstanding capital stock of Voyager Gas Corporation, for cash consideration of $35.0 million plus 10,000 newly issued shares of ABC’s Series D Preferred Stock, having an agreed upon value of $7.0 million. Upon the effectiveness of an amendment to the Company’s Certificate [...]

Paradigm, a leading provider of enterprise software solutions and strategic consulting services to the global oil and natural gas exploration and production (E&P) industry, announces that it will collaborate with Vietnam Petroleum Institute (VPI), the leading provider of geoscientific and technological consultancy for the Vietnamese government and state-owned Petrovietnam, on geosciences consulting projects within Vietnam.
The [...]

Transmeridian Exploration Incorporated and its wholly-owned subsidiary Transmeridian Exploration Inc. announced that they have extended the consent payment deadline and expiration time with respect to their exchange offer and concurrent solicitation of consents to amend the indenture governing TMEI’s 12% Senior Secured Notes due 2010 (the “Existing Notes”) (CUSIP Nos.: 89376NAC2, 89376NAA6, 89376NAB4, [...]

Doral Energy Corp , an oil and gas exploration and production company, announced today that it has completed the acquisition of leaseholds on over 7,800 acres of producing oil and gas property on the northwestern end of the resource-rich Permian Basin in Eddy County, New Mexico (the “Eddy County Properties”). In order to complete the [...]

Cano Petroleum, Inc has recently told the press about the results of its Fiscal Year End Reserves as prepared by Miller and Lents, Ltd., its new independent petroleum engineer. Proved developed producing (PDP) reserves increased 25% to 10.6 million barrels of oil equivalent (BOE) up from 8.5 million BOE (after FY ’08 production of 0.5 [...]