L&L Energy Announces Initiation of Coverage by Independent Equity Research Firm SeeThruEquity, LLC
L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company") a U.S.-based company with profitable energy (coal) operations in China, announced today that SeeThruEquity, LLC, an unbiased and independent research firm, has initiated coverage on the Company. The report is now available for viewing at (LINK).
"We initiate coverage on L&L Energy, Inc. ("L&L") with a price target of $5.43 per share. L&L is a vertically integrated coal company operating in southwestern China, selling thermal, metallurgical and coking coal to State Owned entities and various private companies. As of July 31, 2013, they operated five coal mines, two coal washing plants and three wholesale distribution networks in the Guizhou and Yunnan provinces of China," remarked Ajay Tandon, Director of Research at SeeThruEquity, LLC.
Africa Hydrocarbons Completes Interpretation of Well Data and Provides an Operational Update on the BHN-1 Well in Tunisia
Africa Hydrocarbons Inc. (TSX VENTURE:NFK) ("AHI" or the "Company") today issued the following operational update regarding its BHN-1 exploration well on the Bouhajla Permit in northeastern Tunisia. As previously announced, the BHN-1 well penetrated 245 metres of chalky limestones of the targeted Abiod formation within the Bouhajla North prospect. During drilling, elevated levels of C1-C4 (methane-butane) were noted in the mud log with indications of both open and healed fractures noted in the drill cuttings. Fluid losses during drilling of between 0.8 and 3 cubic metres per hour were encountered throughout the Abiod. Hole stability issues below the intermediate casing string dictated a decision to case the wellbore rather than risk losing the hole, and then follow up with cased-hole neutron/sonic/gamma logs for initial evaluation purposes.
Twin Butte Energy to Acquire Private Oil Producer and Proceed With $70 Million Bought Deal Financing
/NOT FOR DISTRIBUTION OR DISSEMINATION IN THE UNITED STATES/
Twin Butte Energy Ltd. (TSX:TBE.TO ) ("Twin Butte" or the "Company") is pleased to announce that it has entered into an arrangement agreement ("Arrangement Agreement") with Black Shire Energy Inc. ("Black Shire") providing for the acquisition (the "Black Shire Acquisition") by Twin Butte of all of the issued and outstanding class "A" common shares ("Black Shire Shares") of Black Shire for total consideration of approximately $358.0 million, including the assumption of approximately $107.6 million of net debt.
Pan Orient Energy Corp.: Operations Update
Pan Orient Energy Corp. ("Pan Orient" or the "Corporation") (TSX VENTURE:POE) is pleased to provide an update on operations in Thailand, Indonesia and Canada.
Concession L53 Onshore Thailand (Pan Orient Operator and 100% Working Interest)
Thailand Oil Production
Oil sales averaged 1014 BOPD in September and 1026 BOPD over the past 30 days. Current production is 1,035 BOPD with an additional approximately 150 BOPD shut-in (60 BOPD at L53-A1 due to a failed pump and 90 BOPD at L53-G3ST1 due to expiry of a 90 day production test period). On September 5, approval was received to turn the L53-G2 well back on for a second 90 day test period that will expire on December 6, 2013.
Cequence Energy Inc. announces investment by CPPIB Credit Investments Inc., and provides operational update and revised guidance
/NOT FOR DISTRIBUTION TO ANY U.S. NEWSWIRE OR DISSEMINATION IN THE UNITED STATES/
CALGARY, Oct. 3, 2013 /CNW/ - Cequence Energy Inc. ("Cequence" or the "Company") (TSX:CQE.TO ) is pleased to announce that it has entered into definitive documentation and expects to complete later today a transaction (the "Transaction") with CPPIB Credit Investments Inc., ("CII"), a wholly-owned subsidiary of Canada Pension Plan Investment Board ("CPPIB"), for an initial investment by CII of $60 million in unsecured five year notes (the "Notes") with a further $60 million of notes available at a future date, subject to the approval of both CII and Cequence on terms to be confirmed at the time of issuance. In addition, Cequence has granted CII 3.0 million warrants to purchase common shares (the "Warrants"). The investment will allow Cequence to capitalize on its recent successes at Simonette and accelerate the development of this project.
BNK Petroleum Inc. announces Caney operations update
BNK Petroleum Inc. (the "Company" or "BNK") (TSX: BKX), is providing an update on its Tishomingo Field, Caney oil shale operations in Oklahoma.
The Company's Hartgraves 5-3H Caney well was successfully fracture stimulated in September and, while it is early in the flowback phase, the well has, over the last 4 days, averaged 1,200 barrels of oil equivalent per day (boepd) of which 585 barrels a day is oil. The early production from this well is more constant and twice as good as the best and previously drilled and fracture stimulated Caney well, the Dunn 2-2H.
The Dunn 2-2H well had a 24 hour peak rate of 620 BOEPD of which 300 barrels was oil. The 30 day initial production (IP) rate for this well is 420 BOEPD of which 195 barrels is oil. The Barnes 6-3H well, where only 11 out of 17 stages were fracture stimulated, had a 30 day IP rate of 200 BOEPD of which 93 barrels was oil.
Pacific Rubiales announces approval of a patent grant for its proprietary STAR technology, in Colombia
Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC; BOVESPA: PREB) is pleased to announce that it has been granted a patent for its proprietary Synchronized Thermal Additional Recovery ("STAR") enhanced oil recovery technology by the Colombian patent authority, the Superintendencia de Industria y Comercio ("SIC").
The patent award by the SIC provides the Company with intellectual property rights to the STAR technology in Colombia for an exclusive 20 year period from the filing date of April 1, 2011, to April 1, 2031. The patent specifically recognizes: 1) the synchronized system of oil production using the combustion process, employing in-situ measurement, monitoring and control of operational conditions in real time and distance, and 2) the use of a numerical model intelligent well/subsurface system to monitor and control the progress of the combustion front and fluids; critical to successful application of STAR.
Pacific Rubiales announces strategic acquisition of Petrominerales
Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC; BOVESPA: PREB) is pleased to announce that it has entered into an agreement with Petrominerales Ltd. (TSX: PMG; BVC: PMGC) to acquire all of the outstanding common shares of Petrominerales (the "Arrangement Agreement").
Under the Arrangement Agreement, Petrominerales shareholders will receive Cdn.$11.00 cash for each Petrominerales common share held, for a total value of approximately Cdn.$935 million in cash, plus one common share of a newly formed exploration and production company ("ExploreCo"), and the assumption of net debt estimated at Cdn.$640 million, including convertible bonds.
ZaZa Energy Corporation Announces Second Transaction with JV Partner to Acquire Additional Production and Further Develop Its Eaglebine/Eagle Ford East Assets
JV Partner Accelerates Joint Venture Phases and Exchanges Acreage and Production ZaZa to Receive $16.5 MM Net Cash Plus Production Interests in 23 Wells (~$16.1 MM PDP)
ZaZa Energy Corporation (“ZaZa” or the “Company”) (ZAZA) today announced that it has signed a Second Amendment and First Restatement of Joint Exploration and Development Agreement (the “Agreement”) with its current joint venture partner, one of the largest independent crude oil and natural gas companies in the United States, to further develop and expand its Eaglebine/Eagle Ford East assets.
Renegade Petroleum Ltd. Provides Drilling and Operational Update
Renegade Petroleum Ltd. ("Renegade" or the "Company") (TSX VENTURE:RPL), a light oil focused exploration and production company with assets located in Saskatchewan, Alberta, Manitoba and North Dakota, provides the following update on its post break-up drilling program focused in southeast Saskatchewan and in the Viking play in west central Saskatchewan.
Renegade now has inital results on 6 gross (4.1 net) wells, which were drilled post break-up in southeast Saskatchewan with a 100% success rate. Of these wells, 5 gross (3.6 net) are located in the Queensdale area targeting the Frobisher/Alida formation and 1 gross (0.5 net) well is in the Crystal Hills area targeting the Souris Valley formation.
Trilogy Energy Corp. Provides Operational Update on Montney Oil Pool, Duvernay Activity and Production Update
Trilogy Energy Corp. (TET.TO) ("Trilogy" or the "Company") is pleased to announce that it has recently finished completion operations on the step out well Trilogy Hz Kaybob 9-10-64-19W5 (the "9-10 well") on the western side of the Kaybob Montney oil pool, and also that it has plans to participate for its 30 percent working interest in two four well pads targeting Duvernay production.
Kaybob Montney Oil Pool Expansion
Trilogy fracture stimulated the 9-10 well on September 16, 2013. The fracture stimulation included 27 stages along the horizontal length of approximately 2,018 meters.
Husky Announces Significant Discoveries in Flemish Pass Offshore Newfoundland
Husky Energy (HSE.TO) is progressing its Atlantic Region growth pillar with a focus on several recent exploration discoveries and advancement of near-field development projects. New opportunities and stable, high net value production provide a strong foundation for the Company's future growth in the region.
Pioneering the Flemish Pass Basin
Husky with its partner Statoil recently conducted a successful exploration program in the Flemish Pass Basin, located approximately 500 kilometres northeast of St. John's, Newfoundland and Labrador. The Company holds a 35 percent working interest in three discoveries, which are located in close proximity to each other in about 1,100 metres of water.
KiOR Announces Project to Double Columbus Production Capacity
$50 MILLION JOINTLY COMMITTED TO PROJECT BY VINOD KHOSLA AND KHOSLA VENTURES ENABLES LONG-TERM BUSINESS PLAN OF LARGER STANDARD SCALE COMMERCIAL FACILITIES
KiOR, Inc. (KIOR) announced today that it is pursuing plans to double production capacity at its Columbus, Mississippi, cellulosic fuels facility through construction of a second facility incorporating KiOR's commercially proven technology. KiOR estimates that the project -- Columbus II -- will cost approximately $225 million, will break ground within 90 days of the Company raising sufficient equity and debt capital to commence the project, and will take approximately 18 months to construct and start up.
Mexco Energy Corporation Announces Additional Development Of Properties
Mexco Energy Corporation (NYSE MKT: MXC) today announced developments regarding certain oil and gas properties in New Mexico and Texas.
Mexco Energy Corporation ("Mexco") has entered into an agreement with Concho Resources, Inc. ("Concho") to develop the Bone Spring formation using horizontal drilling and multi-stage fracture stimulation on acreage in southwestern Lea County, New Mexico. The first two horizontal wells of twelve prospective wells will target the Avalon shale portion of the Bone Spring zone. To date, 67 wells have been completed in the Avalon shale in this area with numerous other wells in the process of drilling or completing. Concho will pay 62.5% of the cost to drill and complete the two initial wells in order to earn 50% working interest (37.5% net revenue interest).
Twin Butte Energy confirms August dividend payment
Twin Butte Energy Ltd. (TSX:TBE ) ("Twin Butte" or the "Company") confirms that its cash dividend in respect of September 2013 production will be $0.016 per share. The eligible dividend will be paid on October 15, 2013 to shareholders of record on September 30, 2013. The ex-dividend date is September 26, 2013. These dividends are designated as "eligible dividends" for Canadian income tax purposes.
Twin Butte has a Dividend Reinvestment Plan ("DRIP") that provides a convenient and cost-effective method for eligible holders in Canada to maximize their investment in Twin Butte by reinvesting their monthly cash dividends to acquire additional common shares.
US Oil Sands Inc. Announces $80 Million Strategic Financing
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
US Oil Sands Inc. ("US Oil Sands" or the "Company") (TSXV:USO.V - News), a company focused on oil sands exploration and production in the State of Utah, today announced the signing of a letter of intent (the "Letter of Intent") with Blue Pacific Investments Group Ltd., Anchorage Capital Group, L.L.C. and Spitfire Ventures, LLC (the "Strategic Investors"). Under the terms of the Letter of Intent, US Oil Sands will issue up to $80 million of common shares of the Company at an issue price of $0.15 per common share in a private placement financing (the "Offering"). The issue price represents a 49% premium to the 20 day volume weighted average trading price of the Company's common shares.
Ithaca Energy Inc. Stella Development Well - Successful Test Results
Ithaca Energy Inc. (TSX: IAE, LSE: IAE) ("Ithaca" or the "Company") announces completion of a highly successful flow test on the first development well drilled on the Stella field and provides a progress update on the Greater Stella Area development activities. Highlights - The first Stella field development well, "A1", flowed at a maximum rate of 10,835 barrels of oil equivalent per day ("boepd") on a 7/ 8-inch choke, with the full production potential of the well limited by the capacity of the well test equipment on the drilling rig. - Fluid samples have confirmed the high oil content of the hydrocarbons that will be produced from the well. The maximum rate of 10,835 boepd corresponds to 6,499 barrels of oil per day ("bopd") and 26 million standard cubic feet per day ("MMscf/d") of "liquids rich" gas.
LINN Energy, LinnCo and Berry Petroleum Company Provide Update on Merger Process
LINN Energy, LLC (LINE), LinnCo, LLC (LNCO) and Berry Petroleum Company (BRY) announced today that LINN Energy and LinnCo recently received comments related to the Amended Registration Statement on Form S-4 filed on August 9, 2013 in connection with the proposed merger transaction, and are working diligently to file an Amended Form S-4. Furthermore, LINN Energy, LinnCo and Berry Petroleum have agreed to set the record dates for their respective unitholder, shareholder and stockholder meetings as of September 30, 2013.
FuelCell Energy Reports Third Quarter Results and Business Highlights Record quarterly revenue of $54 million Record gross margin Marketing agreement with NRG Energy, including power purchase agreement model Construction of multi-megawatt fuel cell parks on track in Connecticut and South Korea
FuelCell Energy, Inc. (FCEL), a global leader in the design, manufacture, operation and service of ultra-clean, efficient and reliable fuel cell power plants, today reported results for its third quarter ended July 31, 2013 along with an update on key business highlights.
FieldPoint Petroleum Provides Update for Well #3 in Lea County, New Mexico
FieldPoint Petroleum Corporation (FPP) today provided an update on the production from its most recently completed well in Lea County, New Mexico.
FieldPoint's Executive Chairman, Roger Bryant, stated, "Our drilling partner, Cimarex Energy Co. (XEC), has provided us with a progress report on our newest well, the East Lusk Federal 15 #3, in Lea County, New Mexico. For the dates August 14 through August 20, the well averaged producing oil at 730 Bopd and natural gas at 569 Mcfpd. Needless to say, we are very pleased with the way this well is performing at this point. As we have done in the past, we will provide periodic updates on this well as it goes through this early stage production."
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