Calvalley Petroleum Inc. (TSX: CVI.A) provides a strategic update and announces that its Shareholder Rights Plan has expired and that it intends to offer to acquire up to 15,000,000 of its outstanding Class A Common Shares
Calvalley Petroleum Inc. ("Calvalley" or the "Company") provides the following update to its Shareholders ("Shareholder(s)") with respect to the status of its strategic review process. On July 12, 2012, the Company formed a Special Committee of the Board of Directors ("Directors") to oversee a process for the review of strategic alternatives available to the Company, with a view to enhancing Shareholder value. The Directors, in consultation with the members of the Special Committee, have reviewed the results of that process to date and have decided to terminate the strategic review process and to focus the Company's efforts on organic growth, in order to maximize Shareholder value.
Africa Oil Operations Update
Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or the "Company") is pleased to provide the following update on its operations in Kenya and Ethiopia.
With two significant oil finds achieved to date, the Company and operating partner, Tullow Oil plc, continue their very aggressive 2013 drill program on the newly discovered East African play fairway. The partnership currently has three rigs active in the area.
The testing program on the Twiga discovery well is underway with final results expected to be announced in early February. Five zones are being tested. Based on analysis of the electrical logs, conventional and sidewall cores and MDT sampling program, the Company estimates a flow rate of approximately 500 bopd per interval.
SolarCity Announces Fiscal Year 2012 Update and Fiscal Year 2013 Guidance
Company grew megawatt deployment 117 percent on annual basis, exceeding plan SolarCity Corporation (SCTY), a provider of clean, distributed energy, today announced an update on the Company’s megawatts (MW) deployed for the Fiscal Year ended December 31, 2012 and Q4 2012, and provided guidance on this metric for 2013.
“Following the completion of our IPO on December 12, 2012 and the completion of the fiscal year on December 31, the Company now has its first opportunity to provide an update on 2012 megawatt deployment and a forecast of megawatt deployment for 2013,” said SolarCity CEO Lyndon Rive.
MidAmerican Solar Acquires World's Largest Solar Development from SunPower
Antelope Valley Solar Projects Will Generate 579 Megawatts for Southern California Edison
Today, MidAmerican Solar, a subsidiary of MidAmerican Renewables, and SunPower Corp. (SPWR) announced MidAmerican Solar's acquisition from SunPower of the 579-megawatt Antelope Valley Solar Projects (AVSP), two co-located projects in Kern and Los Angeles Counties in Calif. Together, the two combined projects will form the largest permitted solar photovoltaic power development in the world and will create an estimated 650 jobs during construction.
Longwei Petroleum Raises Full-Year Guidance with Increased Revenue Contribution from its Huajie Facility
Company expects fiscal 2013 revenue to increase 30.7% to $667.3 million, with the new Huajie facility to contribute $121.0 million
Longwei Petroleum Investment Holding Ltd. (NYSE MKT: LPH) ("Longwei" or the "Company"), an energy company engaged in the storage and distribution of finished petroleum products in the People's Republic of China ("PRC"), today announced that it has raised its full-year guidance for the fiscal year ending June 30, 2013 ("FY13").
Longwei now forecasts FY13 revenue to increase 30.7% year-over-year to $667.3 million, versus prior forecasts of $646.3 million. Longwei also projects net income, adjusted for the warrant derivative liability, to grow approximately 23.0% year-over-year to $80.1 million, versus the prior forecast of $77.6 million. The growth is primarily driven by the better-than-expected ramp-up of the new Huajie facility.
Caza Oil & Gas Announces Initial Production Forehand Ranch Bone Spring Test Well
Caza Oil & Gas, Inc. ("Caza" or the "Company") (TSX:CAZ)(AIM:CAZA) is pleased to provide a production update for the Company's Forehand Ranch 27 State Com No. 1H horizontal Bone Spring well on its Forehand Ranch Prospect in Eddy County, New Mexico.
The Forehand Ranch 27 State Com No. 1H horizontal Bone Spring well was fracture stimulated in the 2nd Bone Spring Sand in twelve stages and has been producing under controlled flowback for two weeks. The well continues to clean up, but production has stabilised. In the past 24 hours, the well recovered hydrocarbons and frac fluids at a gross rate of approximately 1,631 barrels (bbls), producing 170 bbls of oil, 103 thousand cubic feet of natural gas, which equates to 187 bbls of oil equivalent, and 1,444 bbls of frac fluid.
Sonde Resources Corp. Farms Out 66% of Joint Oil Block Interest
Sonde Resources Corp. ("Sonde" or the "Company") (SOQ.TO) (NYSE MKT:SOQ) (NYSE Amex:SOQ) announces that it has farmed out 66.67% of its interest in the Joint Oil Block to Viking Energy North Africa Limited ("Viking"), a private company. Sonde will receive the following consideration in connection with the farm out (all amounts are in U.S. Dollars):Viking will pay Sonde in total a US $3 million non-refundable signature bonus; Viking will assume responsibility for the three well exploration commitment under the terms of the EPSA and fund 100% of the Joint Oil Block share of the Unit Plan of Development for the Zarat Field. The first well, Fisal, is to be drilled in 2013 along with the acquisition of seismic data covering the Hadaf prospect;
Oando Energy Resources signs agreements to acquire ConocoPhillips Nigerian assets for US$1.79 billion
Oando Energy Resources Inc. ("OER" or the "Company") (TSX: OER), a company focused on oil exploration and production in Nigeria and the Gulf of Guinea is pleased to announce that it has entered into an agreement with ConocoPhillips to acquire ConocoPhillips' Nigerian businesses for a total cash consideration of approximately US$1.79 billion, subject to customary adjustments (the "Proposed Acquisition"). ConocoPhillips' Nigerian businesses consist of:
a) The Onshore BusinessPhillips Oil Company Nigeria Limited ("POCNL"), which holds a 20% non-operating interest in Oil Mining Leases ("OMLs") 60, 61, 62, and 63 as well as related infrastructure and facilities in the Nigerian Agip Oil Company Limited ("NAOC") Joint Venture ("NAOC JV"). The other partners are the Nigerian National Petroleum Corporation ("NNPC") with a 60% interest and NAOC (20% and operator); and
Pace Oil & Gas, AvenEx Energy and Charger Energy to Combine and Form Intermediate Dividend Paying Corporation
Conversion of natural gas volumes to barrels of oil equivalent (boe) are at 6:1.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
Pace Oil & Gas Ltd. ("Pace") (TSX:PCE), AvenEx Energy Corp. ("AvenEx") (TSX:AVF) and Charger Energy Corp. ("Charger") (TSX VENTURE:CHX) announce that they have entered into an agreement (the "Arrangement Agreement") providing for the combination of Pace, AvenEx and Charger to form a dividend paying corporation to be named "Spyglass Resources Corp." ("Spyglass"). Spyglass will have a balanced commodity profile and sustainable business model underpinned by 18,000 boe/d of stable, low decline oil and gas production and will be led by an experienced management team.
Epsilon Energy Ltd. Announces Doubling of Estimated Proved Reserves
Epsilon Energy Ltd. ("Epsilon") (EPS.TO) announced today that proved reserves as of October 31, 2012 increased to 150 Bcfe, more than double the proved reserve estimate of 72 Bcfe as of December 31, 2011. The 107% increase in proved reserves is based upon an evaluation performed by Epsilon''s independent reserve engineering firm, Miller and Lents, Ltd. ("MLL").
The increase in reserves is driven by successful drilling results, favorable production rates and better than anticipated decline rates in the Marcellus. Based upon production results in 2012, EUR''s for Marcellus proved producing wells increased up to 7.5 Bcfe per gross well, from an average of 4.9 Bcfe per well.
Madalena International Operations Update: Cases CAN-8 for Completion / Testing and Moving Rig to CAS X-5 Location to Drill Ahead Madalena Ventures Inc. and its wholly owned subsidiary Madalena Austral SA ("Madalena" or the "Company"), is pleased to provide an update on its drilling operations in the Neuquén basin, Argentina.
On the Coiron Amargo Block (35% working interest), the CAN-8 development well located 800 meters south east of the existing CAN 7 oil producer on the northern portion of the block (i.e. Coiron Amargo Norte), has been cased to a total depth ("TD") of 10,433 feet. Following the successful drilling of the CAN-8 location and a review of the well data gathered (including electric logs), oil and gas has been encountered in both the unconventional Vaca Muerta shale and the conventional Sierras Blancas zones of interest.
SolarCity Announces Pricing of Its Initial Public Offering
SolarCity Corporation, a provider of clean distributed energy, announced today the pricing of its initial public offering of 11,500,000 shares of common stock at a price of $8.00 per share. The common stock is expected to begin trading on The NASDAQ Global Market on December 13, 2012 under the ticker symbol “SCTY.”
A total of 11,434,988 shares are being offered by SolarCity and 65,012 shares are being offered by selling stockholders. In addition, SolarCity has granted the underwriters a 30-day option to purchase up to 1,725,000 additional shares of common stock from SolarCity to cover over-allotments, if any.
DayStar Technologies (DSTI) Announces That Former United States Secretary of Energy and Ambassador to the United Nations Under President Clinton's Administration and the Former Governor of New Mexico, William (Bill) Richardson, Joins Its Board of Directors
DayStar Technologies, Inc. ( NASDAQ : DSTI ) announces a new member to their Board of Directors. Former United States Secretary of Energy, former Governor of New Mexico and Nobel Prize nominee, Bill Richardson, has joined the Board of Directors of DayStar Technologies.
Lorne (Mark) Roseborough, President of DayStar, stated, "Bill Richardson made New Mexico the 'Clean Energy State' by requiring utilities to meet 20% of New Mexico's electrical demand from renewable sources, and established the Renewable Energy Transmission Authority to deliver New Mexico's world-class renewable resources to market.
Heritage Oil Announces Acquisition of Common Shares of PetroFrontier Corp.
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Heritage Oil Plc (HOC.TO)(HOIL.L), an independent upstream exploration and production company, today announces that the Company acquired 1,800,000 common shares ("Shares") of PetroFrontier Corp. ("PetroFrontier") representing 2.27% of the outstanding Shares. Together with Shares already held by Heritage, the Company now holds 13,960,467 Shares, representing approximately 17.58% of the outstanding Shares of PetroFrontier. Heritage also holds 2,311,767 warrants of PetroFrontier ("Warrants") which are convertible into 2,311,767 Shares upon due exercise thereof. If these Warrants were duly exercised, Heritage would hold approximately 19.91% of the outstanding Shares of PetroFrontier.
Metabolix Secures UCLA Engineering ARPA-E Grant for Improving the Productivity of Making Biofuels in Plants
Third Grant in 2012 Focusing on Company’s Leading-Edge Crop Research
Metabolix, Inc. (MBLX), an innovation-driven bioscience company focused on delivering sustainable solutions for plastics, chemicals and energy, today announced that it has received a subaward under the Advanced Research Projects Agency – Energy (ARPA-E) to work with the UCLA Henry Samueli School of Engineering and Applied Science to redesign carbon fixation pathways to increase the efficiency of capturing energy from sunlight. This is the third grant awarded to Metabolix in 2012 for leading-edge crop research targeting multi-gene expression and transformation of plants, and builds upon its years of experience in transforming plants for bio-product production. Funding from these three grants will total nearly $1 million and will run through 2014.
Border Announces Drilling of First Long-Leg Horizontal Well at Red Earth and Filing of Quarterly Financials
Border Petroleum Corp. (TSX VENTURE:BOR) ("Border" or the "Corporation") is pleased to announce the successful drilling of its first long-leg Slave Point horizontal well located at 10-15-85-10W5M (the "10-15 Well") on the Loon River Cree Nation under federal permit (the "Loon Block") in the Red Earth area of northern Alberta and the commencement of completion operations.
The 10-15 Well was drilled to a total depth of 3,250 meters, including a 1,630 meter horizontal leg. The logs indicate 952 meters of horizontal wellbore with 3%-9% porosity and 454 meters with over 9% porosity including 256 meters that exhibited significant dolomitization with 20-33% porosity.
Africa Oil Announces $193.75 Million Private Placement
THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or the "Company") reports that it will sell, on a non-brokered, private placement basis, an aggregate of up to 25 million common shares at a price of Cdn $7.75 per share for gross proceeds of up to Cdn $193.75 million. A 4% finder's fee may be payable on all or a portion of the private placement. Net proceeds of the private placement will be used towards the Company's ongoing work program in East Africa as well as for general working capital purposes.
Sprott Power Corp. Completes Acquisition of Shear Wind and Enters into Agreements with New Partner
Sprott Power Corp. (TSX: SPZ) ("Sprott Power") and Shear Wind Inc. (TSXV: SWX) ("Shear Wind") are pleased to announce the closing of their plan of arrangement (the "Arrangement") and the establishment of agreements between Sprott Power and its new partner, Genera Avante Holdings Canada Inc. (together with certain of its affiliates,"GAHC"), for the operation and development of the Shear Wind assets.
The acquisition adds the Glen Dhu Wind Farm, the largest wind farm in Nova Scotia, to Sprott Power's portfolio of assets, increasing its operating assets under management by approximately 80% from 80 MW to 143 MW.
Antrim Announces Commencement of Drilling Operations for the Cyclone Prospect in UK Central North Sea
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Antrim Energy Inc. (TSX:AEN) (AIM:AEY) ("Antrim" or the "Company")
Antrim today announced that it has been informed by operator Premier Oil UK Limited ("Premier") that drilling operations have commenced for the Cyclone prospect in UK Central North Sea Licence P1784 Block 21/7b (Antrim working interest 30%).
Pinecrest Energy Inc. to Combine with Spartan Oil Corp. to create a Sustainable Light Oil Dividend and Growth Company
Pinecrest Energy Inc. (TSX-V: PRY) ("Pinecrest") and Spartan Oil Corp. ("Spartan") (TSX: STO) are pleased to announce that they have entered into an arrangement agreement (the "Arrangement Agreement") providing for the combination of Pinecrest and Spartan (collectively, the "Combined Company") to form a premier light oil weighted entity that will provide shareholders with a sustainable model of income and production growth. The Combined Company will have an enterprise value approaching $1 billion and an attractive suite of high netback light oil projects.
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