Artek Exploration Ltd. Announces Business Combination With Kelt Exploration Ltd.

CALGARY, ALBERTA--(Feb 23, 2015) - Artek Exploration Ltd. (RTK.TO) ("Artek" or the "Corporation") is pleased to announce that it has entered into an arrangement agreement (the "Arrangement Agreement") with Kelt Exploration Ltd. ("Kelt"), pursuant to which Kelt has agreed to acquire all of the issued and outstanding common shares of Artek ("Artek Shares") on the basis of 0.34 of a common share of Kelt ("Kelt Shares") for each Artek Share held (the "Transaction").

The consideration reflects a value of approximately $2.76 per Artek Share based on a 5 day volume weighted average trading price of $8.10 per Kelt Share immediately preceding execution of the Arrangement Agreement and represents a 61% premium over the 5 day volume weighted average trading price of the Artek Shares. The Transaction values Artek at approximately $307 million, including net debt and Artek estimated transaction costs.

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PostRock Announces Cost Reductions, Provides Update and Sets 2015 Capex Plan

OKLAHOMA CITY, Feb. 5, 2015  -- PostRock Energy Corporation (PSTR) ("PostRock") today provided an update.

Summary

  • 2014 production, at the realized 21:1 gas-to-oil economic equivalency, increased over 2% from the prior-year.
  • Oil production rose to 754 barrels per day, up 43% from the prior-year. December 2014 oil production averaged 929 BOPD. Gas production declined 9% to just over 36.2 MMcf per day.
  • Revenue increased over 15% from the prior-year.
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Following Rapid Pressure Build-up, Junex Starts a Longer Production Test at its Galt No. 4 Horizontal Well

QUEBEC CITY, QUEBEC--(Feb 2, 2015) - Junex Inc. (TSX VENTURE:JNX) ("Junex" or the "Company") announces that, since shutting-in the well for pressure build-up about one week ago, technical data was collected at the surface as to the oil level and the pressure build-up in the well. These data indicate that a rapid pressure build-up has occurred since pumping the 2,017 barrels of light, sweet oil during the production test in the Galt No. 4 Horizontal well. In addition, the oil level in the well is stable. It is Junex's opinion that these are indicative of an oil reservoir with very good reservoir characteristics.

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Gulf Resources Announced Finding of Natural Gas Resources Under Its Bromine Well in Sichuan Area

SHOUGUANG, China, Jan. 30, 2015  -- Gulf Resources, Inc. (GURE) ("Gulf Resources" or the "Company" or "GURE"), a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced that the company has found natural gas resources under its bromine well in Sichuan area.

In 2014, the Chinese National Petroleum Corporation (CNCPC), (listed symbol PTR) discovered 440.4 billion cubic meters of proven geological natural gas reserves of which 308.2 billion cubic meters is "technically recoverable" in Moxi block of An'yue field Sichuan Province. This area is very near to the region where Gulf Resources is exploring for bromine.

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Canacol Energy Ltd. Tests 21 MMSCFPD at Clarinete 1 Gas Discovery in Colombia

CALGARY, ALBERTA--(Jan 27, 2015) - Canacol Energy Ltd. ("Canacol" or the "Corporation") (CNE.TO)(CNNEF)(BVC:CNEC) is pleased to announce that Clarinete 1, the first well drilled in its recently acquired VIM 5 Exploration and Production ("E&P") Contract, has tested at a final gross rate of 20.6 million standard cubic feet per day ("mmscfpd") (3,606 barrels of oil equivalent "boepd") of dry gas with no water in the first of two planned production tests over two separate reservoir intervals. Canacol, through its wholly owned subsidiary CNE Oil & Gas S.A.S., holds a 100% operated interest in the VIM 5 E&P contract. Pursuant to an existing agreement, and subject to approval from the Agencia Nacional de Hidrocarburos, an industry joint venture partner has the ability to earn up to 25 percent of the Corporations 100 percent interest in exchange for fulfilling certain financial commitments.

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