Hecla Mining Company has approved a revision to its agreement with Rusoro Mining Ltd. (Rusoro) to extend the date to July 8, 2008, for closing the transaction to sell its subsidiaries engaged in mining and exploring for gold in Venezuela to Rusoro for $25 million. The sale agreement was previously announced on June 19, 2008, [...]

AmMex Gold Mining Corp. announced that it has decided not to proceed with the acquisition of 100% of the mining rights to the Cold Creek Gold Project, located in Cassia County, Idaho, near the Utah-Nevada border.
Management and the Board of Directors concluded that the Cold Creek property, while being a property of merit, does not [...]

Tri-Valley Corporation has exceeded 2,000 barrels of oil equivalent per day (BOED) rate with total field production recorded at 2,058.3 BOED from its 43 active producing wells on six California properties. This surpasses the original year end 2008 Company Plan of 2,000 BOED by more than six months.
“With tested productive capacity of individual wells now [...]

Victory Energy Corporation (OTC BB:VYEY.OB) announced today it has engaged consultants, industry experts in horizontal drilling technology, for the Canyon Sandstone formation. The horizontal drilling evaluation is for the Corporation’s gas play in the Texas Permian Basin.
The consultants are optimistic that horizontal drilling can be successfully adopted for the Canyon Sandstone formation due to the [...]

JED Oil Inc. (AMEX: JDO ) (“JED” or the “Company”) today announced that it signed a Term Sheet with the holders of its $40.24 million principal amount of 10% Senior Subordinated Convertible Notes (“Notes”) for the redemption of the Notes by September 30, 2008. The Term Sheet is attached to a Note Amending Agreement with [...]

Oil futures ended the day higher after spending much of the session going back and forth as traders awaited significant news to help the market break out of a trading range that has lasted for more than two weeks.
Light, sweet crude for August delivery rose 26 cents to settle at $137 a barrel on the [...]

-Tri-Valley Corporation announced that it has established an alliance with Excalibur Well Services, Inc of Bakersfield, California and has sold all of its 100% owned Great Valley Production Services production rigs and equipment to Excalibur as part of an advantageous arrangement. The sale price was not disclosed.
“We originally formed Great Valley Production Services LLP because, [...]

Halliburton Co. shares raced to a new record high as oil prices climbed and the oilfield service provider walked away from an offer to buy Expro International Group PLC.
The stock rose more than 5 percent at one point in the session, touching a high of $52.84, before moving back to $52.50, up $2.45 in afternoon [...]

Oil prices rose after Saudi Arabia’s modest production increase failed to push traders to sell.
Light, sweet crude for August delivery rose $1.38 to settle at $136.74 a barrel on the New York Mercantile Exchange.
Retail gas prices inched lower overnight but appear unlikely to change much as long as oil prices remain stuck in their recent [...]

Angola’s State-run diamond producing company (Endiama-Ep) will launch a tourist excursion programme into the exploration areas throughout the national territory next year, seeking to publicise the development of the industry in the country.
The information was released Thursday in Luanda by the director of Endiama’s planning and investment department, Alberto de Oliveira dos Reis Fancony.
The official [...]