DENVER, CO--(August 03, 2016) - Magellan Petroleum Corporation(MPET) ("Magellan") today announced that it has entered into a definitive merger agreement with Tellurian Investments Inc. ("Tellurian"), a recently formed private company focused on the development of a mid-scale liquefied natural gas ("LNG") facility on the U.S. Gulf Coast. Tellurian is led by Charif Souki, former founder, Chairman, and CEO of Cheniere Energy, Inc. and Martin Houston, former COO of BG Group plc.

 

J. Thomas Wilson, President and CEO of Magellan, commented, "This transaction concludes our strategic alternatives review process and we believe offers a unique opportunity for Magellan's shareholders to participate at an early stage in an investment potentially similar to Cheniere Energy's remarkable success, under the leadership of Charif Souki. He and Martin Houston are proven leaders in the LNG industry."

TORONTO , July 13, 2016  - Seymour Schulich , through The Schulich Foundation, 20 Eglinton Avenue West, Suite 1900, Toronto, Ontario , M4R 1K8, announced today that he has acquired, through a non-brokered private placement, an additional 3,000,000 common shares of Birchcliff Energy Ltd (BIR.TO) and now owns 45,000,000 shares. 

 

Mr. Schulich's current shareholdings represent 17.8% of the current issued and outstanding common shares of Birchcliff.  Mr. Schulich further advises that the shares have been acquired for investment purposes at this time.

 

SOURCE Seymour Schulich

CALGARY, ALBERTA--(Marketwired - Jul 12, 2016) - Canacol Energy Ltd. ("Canacol" or the "Corporation") (CNE.TO)(BVC:CNEC)(CNNEF) is pleased to provide the following update concerning its gas sales, drilling operations, reserves, and 2016 guidance.

 

Gas cash sales before royalties for the months of May and June 2016 averaged approximately 88.5 million standard cubic feet per day ("MMscfpd"), or 15,526 barrels of oil equivalent per day ("boepd"). The average cash netback was approximately US$ 26.00 / barrel of oil equivalent ("boe") during this period. Production from the Clarinete 1 and Clarinete 2ST wells averaged 30 MMscfpd for the months of May and June 2016. Gas cash sales were slightly impacted by scheduled maintenance at one of Canacol's customer's facilities which have since been completed. Oil sales before royalties, including Ecuador, for the months of May and June 2016 were 3,995 barrels of oil per day ("bopd") with an average cash netback of US$ 25.67 / barrel ("bbl").

DENVER, July 06, 2016  -- U.S. Energy Corp. (USEG), a Wyoming corporation (the “Company”), has entered into a non-binding Letter of Intent with IronHorse Resources LLC. pursuant to which the Company expects to acquire a 40% interest in IronHorse Resource’s Farmout Agreement to participate in developing three core areas in the DJ Basin, Wattenberg Field in Weld County, Colorado. 

 

Under the Participation Agreement, the Company will obtain working interests averaging 11.6% in 21 horizontal wells to be drilled in the A, B, and C benches of the Niobrara formation and the Codell formation.

 

The DJ Basin is a crude oil and liquids rich natural gas play located in Northeastern Colorado and Southeastern Wyoming.  The Company believes that the Wattenberg Field of the DJ Basin offers attractive economics at current strip prices for oil and gas.  The DJ Basin Wattenberg was discovered in 1970 and is one of the 15 largest developments of gas in the country.