Ritchie Bros. Auctioneers, the world’s largest auctioneer of industrial equipment, attracted thousands of bidders to seven unreserved public auctions in four countries last week - including its first ever auction in Poland. The successful multi-million dollar equipment auction in Katowice, Poland on November 14, 2008 attracted hundreds of on-site and online bidders from 26 countries. [...]
FX Energy, Inc. reported that the Energy Regulatory Office in Poland has approved an 11.1% increase in the wholesale prices of natural gas. The new prices will take effect on November 1, 2008. FX Energy’s gas contracts in Poland are priced as a percentage of published wholesale prices. This move by the Polish regulator will [...]
Technip has been awarded by Grupa Lotos a lumpsum contract, worth approximately €70 million, for the refinery in Gdansk, Poland.
The contract covers engineering and procurement services for a new solvent deasphalting* unit. The unit will have a feed capacity of 180 tons per hour.
Technip’s operating center in Rome, Italy, will execute the contract. This is [...]
FX Energy, Inc. reported that it has taken steps to improve its already liquid balance sheet. The Company has drawn an additional $14 million under its Senior Credit Facility through the Royal Bank of Scotland (RBS). Including previous cash on hand, the $5 million drawn and announced previously, and this new funding, the Company now [...]
Gold Point Energy Corp. reported that it has commenced acquisition of a 130-mile 2D seismic survey in southern Ohio.
“The 2D seismic is the first step in evaluating potential exploration opportunities in this region. There are multiple objectives that produce gas, condensate and oil at shallow depths of 1,000 to 5,000 feet in this region. We [...]
“Today’s 5.4 percent crude oil price increase to $121.18 a barrel despite decreased demand and increased supply is a clear sign that speculators continue to dominate the commodities markets hurting our national economy,” said Lea Wilson, executive director of the Washington Oil Marketers Association (WOMA).
“There is absolutely no economic reason for prices to increase the [...]
Gold Point Energy Corp. reported today that it has engaged LO&G Consultants GmbH to perform a study of several Central European basins to identify potential for unconventional gas accumulations.
“Central Europe has multiple source and reservoir rocks that have potential for ‘unconventional gas resource’ plays. Compared with North America, the level of exploration activity is low [...]
FX Energy, Inc. is reported to have announced a successful drill stem test (DST) of the Company’s Kromolice-1 well. Located in west central Poland, this exploratory well flowed gas with no water in this first DST. The nearest existing gas discovery is the Company’s Sroda-4 well some 5 kilometers to the southeast.
Vice President of [...]
FX Energy, Inc. reported that the Company’s Grundy-2 well is currently drilling in the Rotliegend sandstone at a depth of 4,625 meters. The top of the Rotliegend was encountered 100 meters higher than expected. The well has now drilled 385 meters of Rotliegend with gas shows throughout and no appearance of water.
Current plans are to [...]
Poland’s state-controlled oil companies PKN Orlen and Grupa Lotos said their first-quarter earnings soared above expectations as revaluation of their crude stockpiles and financial gains made up for weaker refining margins. Net profit at PKN, Polands largest company by sales, jumped almost thirteenfold to 626 million zlotys, beating an average analysts’ estimate of 541 mln, [...]
