Investorideas.com - TAG Oil (TSX-V: TAO) Announces New Light Oil Discovery, Taranaki Basin, New Zealand

Investorideas.com - TAG Oil (TSX-V: TAO) Announces New Light Oil Discovery, Taranaki Basin, New Zealand


Visit this company: http://www.tagoil.com/
Vancouver, B.C. – September 29, 2010 (Investorideas.com Newswire) – TAG Oil Ltd. (TSX-V: TAO) reports a new oil discovery in New Zealand’s Taranaki Basin with the Sidewinder-1 exploration well, located within TAG’s 100%-controlled, 7,910 acre, Broadside exploration permit PEP 38748.


The Sidewinder-1 well was drilled to a total depth of 1,601m, and encountered 14 meters of net (22m gross) oil-bearing sandstones in the Mt. Messenger Formation. Electric logs indicate excellent reservoir qualities, with average porosities of 22.5% and oil saturations of 60%.


"We are extremely pleased to achieve oil pay in excess of what we had anticipated; these results also increase the likelihood of additional discoveries and the prospectivity of the Broadside permit," commented Garth Johnson, CEO of TAG Oil. "TAG will now proceed to complete the Sidewinder-1 well for production. We’ll commence flow testing immediately after completing the fracture stimulation of the Cheal B-3 well, located in our 100%-owned Cheal Mining Permit."
The drill rig will now move to the Cheal Mining Permit to initiate drilling of the Cheal-BH-1 horizontal well. This well, with a total measured depth of 2,325m, including a 600m horizontal section, will be drilled into the proven producing area of the Cheal A block, and will target the widespread turbidite fan deposits identified in the Mt. Messenger Formation. Cheal-BH-1 will be completed with a multi-stage fracture treatment along the horizontal section.


TAG Oil Ltd.
TAG Oil Ltd. is a Canadian-based company with international operations in New Zealand. The Company holds a drill-ready prospect inventory that covers more than 3,500 sections of land in the Taranaki and East Coast basins, including a 100% interest in the producing Cheal oil and gas discoveries now under appraisal and development.
In the East Coast Basin, TAG is planning a drilling campaign to further investigate the major unconventional resource potential that has been demonstrated in the Waipawa and Whangai fractured shale source-rock formations that are widespread across the Company's acreage. The geological characteristics of these formations compare favourably to oil-rich shale formations such as the Bakken Shale in the Williston Basin and Liassic Shale in the Paris Basin.
Contact:
Dan Brown or Garth JohnsonTAG Oil Ltd. 1-604-682-6496Website: http://www.tagoil.com/


Cautionary Note Regarding Anticipated Results and Forward-Looking Statements
Statements contained in this news release that are not historical facts are anticipated results and forward-looking statements that involve various risks and uncertainty affecting the business of TAG Oil. Actual results may vary materially from the information provided in this release. As a result, there is no representation by TAG Oil that actual results realized in the future would be the same in whole or in part as those presented herein. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance.
TAG Oil is involved in the exploration for, and production of, hydrocarbons, and all of its current property holdings, with the exception of the Cheal Oil Field, are in the grassroots or primary exploration stage. Exploration for hydrocarbons is a speculative venture necessarily involving substantial risk. There is no certainty that the expenditures incurred on TAG Oil's exploration properties will result in discoveries of commercial quantities of hydrocarbons. TAG Oil's future success in exploiting and increasing its current reserve base will depend on TAG Oil's ability to develop its current properties and on its ability to discover and acquire properties or prospects that are producing. But, there is no assurance that TAG Oil's future exploration and development efforts will result in the discovery or development of additional commercial accumulations of oil and natural gas.
Other factors that could cause actual results to differ from those contained in the anticipated results and forward-looking statements are set forth in, but are not limited to, filings that the Company and its independent evaluator have made, including the Company's most recent reports in Canada under National Instrument 51-102.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Weaker Dollar Propels Oil Higher Amid Mixed Economic News

Weaker Dollar Propels Oil Higher Amid Mixed Economic News

Oil Market Summary for 09/20/2010 to 09/24/2010

Crude oil prices battled their way to a gain for the week as worries about the economy warred with the upward pressure from a weakening dollar.

Positive news in several categories of durable goods orders helped boost oil prices nearly 2% on Friday, so that the benchmark West Texas Intermediate futures contract, which switched from October to November this week, could tack on nearly 4% for the week.

The dollar was under pressure most of the week as the prospect of further quantitative easing from the Federal Reserve pushed the U.S. currency down against the euro, yen and most other major currencies. The failure of Japanese authorities to intervene further by selling yen also contributed to the dollar’s decline.

A decline of the dollar in foreign exchange markets generally means an increase in oil prices, which are denominated in dollars. In the middle of the week, concerns about oversupply and faltering demand for oil outweighed the impact of the weaker dollar and kept oil prices depressed.

The benchmark contract finished the week at $76.49 a barrel, compared to $73.66 the previous Friday. The euro gained more than 3% against the dollar during the week, trading at $1.3486 late Friday.

The dollar traded marginally lower against the yen Friday, at 84.34 yen, after spiking above 85 yen earlier in the day on rumors that Japan’s central bank might be selling yen again. The dollar fell back Friday as it became evident Japanese authorities were not intervening.

The Bank of Japan intervened in currency markets last week for the first time in six years to brake the rise of the yen against the dollar. A higher exchange rate makes it more difficult for Japanese exporters to compete in world markets.

The U.S. Commerce Department on Friday reported a decline of 1.3% of durable goods orders in August, but the breakdown showed the decline due to a drop in orders of transportation equipment while most other categories showed strong gains. The relatively strong showing for capital goods indicated the corporations were investing for further growth.

The midweek inventory report from the U.S. Energy Information Administration was bearish for oil prices because it showed a gain of 1 million barrels when economists had been expecting a decline of 1.5 million barrels in inventories. Inventory gains indicate weak demand for crude oil.

Source: http://oilprice.com/Energy/Oil-Prices/Weaker-Dollar-Propels-Oil-Higher-Amid-Mixed-Economic-News.html

By. Darrell Delamaide for OilPrice.com who focus on Energy, Finance and Geopolitical news. OilPrice.com also has a geopolitics <a href="http://oilprice.com/Geo-Politics/" target="new">geopolitics </a> newsletter that is delivered twice a week for free.

           

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Investorideas.com - OTC Trading Alert; Volume Leaders Include Oil and Gas Stocks: ($0.14-$0.25): (OTCBB: BROE), (OTCBB: KBLB), (OTCBB: SFMI), (OTCBB: CHTL)

Investorideas.com - OTC Trading Alert; Volume Leaders Include Oil and Gas Stocks: ($0.14-$0.25): (OTCBB: BROE), (OTCBB: KBLB), (OTCBB: SFMI), (OTCBB: CHTL)


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Point Roberts, WA (Investorideas.com Newswire) September 24, 2010 - OTC VOLUME LEADERS reports on the most active trading stocks on the OTCBB. OTC Volume leaders ($0.14-$0.25) include Kraig Biocraft Laboratories, Inc. (OTCBB: KBLB), Baron Energy, Inc. (OTCBB: BROE), Silver Falcon Mining, Inc. (OTCBB: SFMI), and China Tel Group Inc. (OTCBB: CHTL).


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One of the OTCBB volume leader reports; Recent News: "Baron Energy, Inc. ("Baron" or the "Company"), an independent oil and gas company, today announced that it has changed the crude oil transporter on its operated properties, providing the Company with more control over the timing of its oil sales."
Full Article: http://finance.yahoo.com/news/Baron-Energy-Inc-Switches-pz-2437145297.html?x=0&.v=1


Market Snapshot: (at time of release)
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Energy Stocks; Pure Energy Services Ltd. (TSX:PSV)  Announces Sale of Drilling Division

CALGARY, ALBERTA--(http://www.investorideas.com/ energy stocks blog )  - Sept. 23, 2010 - Pure Energy Services Ltd. (TSX:PSV) ("Pure" or the "Company") announced that it has entered into a definitive agreement (the "Agreement") to sell its drilling rig assets and operations (the "drilling division") to a private investment group (the "Purchaser") for an aggregate purchase price of $34 million, subject to certain customary post-closing adjustments (the "Sale Transaction"). The Sale Transaction is expected to close on October 1, 2010. At closing, Pure will receive a cash payment of $31.5 million from the Purchaser, with the balance of $2.5 million scheduled to be paid in full by the Purchaser prior to March 1, 2011. The net proceeds of $33.5 million (after accounting for related selling costs) will be utilized to reduce the Company's bank indebtedness.


Over the past sixteen months, the Company has made significant progress in meeting its previously stated objectives of focusing on its core wireline and testing businesses and reducing debt. During that time the following non-core businesses and assets have been sold: the USA fracturing division, the "Motorworks" performance drilling division, the drilling rig division and various redundant operating facilities and equipment. The acquisition of Canadian Sub-Surface ("CanSub") during June 2009 combined with the acquisition of a competitor's USA wireline operations during April 2010 have served to significantly strengthen the wireline and well testing operations in both Canada and the USA. As a result of the integration of CanSub, Pure has significantly reduced its cost structure in all areas, including senior management, other general and administrative expenses and field operations.

After completion of the sale of the drilling division, Pure will have significantly improved its balance sheet, providing the Company the financial flexibility to:

• continue to strengthen its existing well testing and wireline operations, including the addition of high pressure equipment to service the growing demand for services in unconventional resource plays in Canada and the USA;
• continue to expand its technology base including the advancement of the Company's recently announced downhole fiber optic technology; and
• establish new, strategic operating areas and pursue new business opportunities that are synergistic to the existing service lines.

Peters & Co. Limited acted as financial advisor to Pure in respect of the Sale Transaction.
Pure is an oilfield services company headquartered in Calgary, Alberta that provides wireline and well testing completion services to oil and gas exploration and development entities in the Western Canadian Sedimentary Basin and in the United States (through its wholly-owned subsidiary, Pure Energy Services (USA), Inc.) Pure's western Canadian client base is serviced from 14 field stations throughout northeastern British Columbia, Alberta and southeast Saskatchewan. The United States operations are headquartered in Denver, Colorado with field stations in North Dakota, Wyoming, Colorado and Pennsylvania.
Cautionary Statement Regarding Forward-looking Statements and Information
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements.
In particular and without limitation, this press release contains forward looking statements and information pertaining to the following: completion of the Sale Transaction and the operations, business strategy, future development and growth opportunities, capital expenditures, prospects and asset base of Pure Energy after the completion of the Sale Transaction; the disposition of assets and reduction of indebtedness using the proceeds thereof. Although Pure Energy and believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Pure Energy can give no assurance that they will prove to be correct.
The forward-looking statements and information contained in this document reflect several major factors, expectations and assumptions of Pure Energy, including without limitation, that after the completion of the Sale Transaction Pure Energy will continue to conduct its operations in a manner substantially consistent with its past operations; the general continuance of current or, if applicable, assumed industry conditions; the continuance of existing (and in certain circumstances, the implementation of proposed) taxation, royalty and regulatory regimes; certain commodity prices and other cost assumptions; certain conditions regarding natural gas storage in North America; the availability of adequate debt and/or equity financing and cash flow from operations to fund Pure Energy's capital and operating requirements as needed; and the extent of its liabilities. Many of these factors, expectations and assumptions are based on Pure Energy management's knowledge and experience in the industry and on public disclosure of industry participants and analysts relating to anticipated exploration and development programs of oil and gas producers, the effect of changes to regulatory, taxation and royalty regimes, expected active rig counts and industry equipment utilization in the Western Canadian Sedimentary Basin (the "WCSB") and the Rocky Mountain region, North Dakota and the Appalachian Basin of the United States and other matters. Pure Energy believe that the material factors, expectations and assumptions reflected in the forward-looking statements and information are reasonable; however, no assurances can be given that these factors, expectations and assumptions will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to: general economic conditions in Canada and the United States; changes in the level of capital expenditures made by oil and natural gas producers and the resultant effect on demand for oilfield services during drilling and completion of oil and natural gas wells; volatility in market prices for oil and natural gas and the effect of this volatility on the demand for oilfield services generally; risks inherent in the ability of Pure Energy to generate sufficient cash flow from operations to meet its current and future obligations; increases in debt service charges; the ability to access external sources of debt and equity capital; changes in legislation and the regulatory environment, including uncertainties with respect to implementing binding targets for reductions of emissions; uncertainties in weather and temperature affecting the duration of the oilfield service periods and the activities that can be completed; competition; sourcing, pricing and availability of raw materials, consumables, component parts, equipment, suppliers, facilities, and skilled management, technical and field personnel; liabilities and risks, including environmental liabilities and risks, inherent in oil and natural gas operations; ability to integrate technological advances and match advances of competition; credit risk to which the combined company will be exposed in the conduct of its business; and changes to the royalty regimes applicable to entities operating in the WCSB or the United States Rocky Mountain region.
There are risks also inherent in the nature of the proposed Sale Transaction, including: failure to satisfy the conditions of the Agreement; and failure to obtain the required regulatory and other third party approvals on a timely basis or at all.
This news release also contains forward-looking statements and information concerning the anticipated completion of the Sale Transaction. Pure Energy have provided these anticipated times in reliance on certain assumptions that they believe are reasonable at this time, including assumptions as to the timing of receipt of the necessary regulatory and third party approvals and the time necessary to satisfy the conditions to the closing of the Sale Transaction. These dates may change for a number of reasons, including the inability to secure necessary regulatory or third party approvals in the time assumed or the need for additional time to satisfy the conditions to the completion of the Sale Transaction. Accordingly, readers should not place undue reliance on the forward- looking statements and information contained in this press release concerning these times. Readers are cautioned that the foregoing list of factors is not exhaustive.
Additional information on these and other factors that could affect Pure Energy's operations or financial results are included the annual information forms and management's discussion and analysis of Pure Energy which may be accessed through the corporate profile of Pure Energy on the SEDAR website (www.sedar.com). The forward-looking statements and information contained in this press release are made as of the date hereof and Pure Energy undertake no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

For more information, please contact
Pure Energy Services Ltd.
Kevin Delaney
Chief Executive Officer
(403) 262-4000
or
Pure Energy Services Ltd.
Chris Martin
Chief Financial Officer
(403) 262-4000

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Energy Stocks; Atikwa (TSX VENTURE:ATK) Hits TD on Foothills Re-Entry

CALGARY, ALBERTA--(http://www.investorideas.com/ energy stocks blog )  - Sept. 23, 2010) - Atikwa Resources Inc. ("Atikwa" or the "Company") (TSX VENTURE:ATK) announces that it has reached total depth on its Porcupine Hills prospect, located in the foothills south of Calgary. The Company has set a bridge plug just below the zone of interest and is pleased to report that they have successfully pressure tested the casing and completed the well bore integrity logging. Due to a heavy snowfall in the area Tuesday night and generally very wet and muddy conditions, the perforation of the well will be delayed for a few days to allow some time for the road to dry up so that perforation equipment and production tubing can be moved in. The Company is currently in line for the next available time slot for fracing equipment, which is scheduled for the first week of October.
The target is a by-passed Cretaceous interval, located at around 3340 m depth. The well was originally drilled in 1981, with intermediate casing set at 3460 m, and a total drilling depth of 5135 m. When compared to analogous pools, the zone of interest could have an initial pressure of up to 5000 psi. The original well was targeting oil and was unsuccessful in the deeper zone.
The targeted by-passed pay opportunity was identified through extensive log, reservoir and rock property analysis of data that was available from the drilling of the first well. The Company's CEO Sean Kehoe stated; "We know we have about twenty feet of very porous permeable rock at the well bore. The mud logs from the original well show that when they drilled through our zone of interest they got a significant gas show. When one considers the thickness, porosity, permeability and estimated pressure of the zone at this depth it all points to a potentially significant flow rate with substantial liquids rich gas-in-place." The company will have an 87% working interest in the well when it is completed and will have a total of 3,890 net acres of land in the area to develop upon success.
The Foothills re-entry is one in a series of four large Original Oil in Place (OOIP) and Original Gas in Place (OGIP) resource plays.The other three programs include a Bakken light oil play in Saskatchewan, a Spearfish light oil play in Manitoba and a liquids rich natural gas play in the lower Mannville at Windfall, Alberta.
This news release contains forward‐looking statements relating to the Company's plans and other aspects of the Company's anticipated future operations, strategies, financial and operating results and business opportunities. Forward‐looking statements typically use words such as "anticipate", "believe", "project", "expect", "plan", "intent" or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future, or consists of statements regarding estimates of future production, operating costs or other expectations, beliefs, plans, objectives, assumptions or statements about future events or performance. Statements regarding reserves are also forward‐looking statements, as they reflect estimates as to the expectation that the deposits can be economically exploited in the future. Although the Company believes that the expectations represented in such forward‐looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. As a consequence, actual results may differ materially from those anticipated in the forward‐looking statements and you should not unduly rely on forward‐looking statements. The forward‐looking statements contained in this news release are made as the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A conversion ratio for gas of 6 mcf: 1 boe is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact
Atikwa Resources Inc.
Sean Kehoe
President and CEO
(403) 233-6073

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Energy Stocks ; TransCanada (TSX:TRP) Issues US$1.0 Billion of Senior Notes

TransCanada (TSX:TRP)  Issues US$1.0 Billion of Senior Notes

CALGARY, ALBERTA--(http://www.investorideas.com/ energy stocks blog)   - Sept. 23, 2010) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) announced today that its wholly-owned subsidiary, TransCanada PipeLines Limited, has successfully completed an offering of US$1.0 billion of 3.80% Senior Notes due October 1, 2020.


The net proceeds of the offering are expected to be used to partially fund capital projects of TransCanada, for general corporate purposes and to reduce short term indebtedness of TransCanada and its affiliates.
The offering was made in the United States under TransCanada PipeLines Limited's previously filed shelf prospectus dated December 17, 2009. The offering was done by a syndicate of underwriters led by Citigroup Global Markets Inc. and J.P. Morgan Securities LLC.
With more than 50 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and oil pipelines, power generation and gas storage facilities. TransCanada's network of wholly owned natural gas pipelines extends more than 60,000 kilometres (37,000 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with approximately 380 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns, or has interests in, over 11,700 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest oil delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. For more information visit: www.transcanada.com.
Forward-Looking Information
This news release may contain certain information that is forward-looking and is subject to important risks and uncertainties. The words "anticipate", "expect", "believe", "may", "should", "estimate", "project", "outlook", "forecast" or other similar words are used to identify such forward looking information. Forward-looking statements in this document are intended to provide TransCanada security holders and potential investors with information regarding TransCanada and its subsidiaries, including management's assessment of TransCanada's and its subsidiaries' future financial and operational plans and outlook. Forward-looking statements in this document may include, among others, statements regarding the use of proceeds of the offering, anticipated business prospects, projects and financial performance of TransCanada and its subsidiaries, and expectations or projections about the future, strategies and goals for growth and expansion. All forward-looking statements reflect TransCanada's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among others, the ability of TransCanada to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the operating performance of the Company's pipeline and energy assets, access to capital markets, interest and currency exchange rates, and economic conditions in North America. By its nature, forward-looking information is subject to various risks and uncertainties, which could cause TransCanada's actual results and experience to differ materially from the anticipated results or expectations expressed. Additional information on these and other factors is available in the reports filed by TransCanada with Canadian securities regulators and with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. TransCanada undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

For more information, please contact
TransCanada
Media Inquiries
Cecily Dobson/Terry Cunha
403.920.7859 or 1.800.608.7859
or
Investor & Analyst Inquiries
David Moneta/Terry Hook
403.920.7911 or 1.800.361.6522
www.transcanada.com

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Natural Gas News ; Government of British Columbia: $20 Million September Natural Gas and Petroleum Sale

Natural Gas News ; Government of British Columbia: $20 Million September Natural Gas and Petroleum Sale

VICTORIA, BRITISH COLUMBIA--(http://www.investorideas.com/ energy stocks blog )  - Sept. 23, 2010) -
INFORMATION BULLETIN
2010EMPR0035-001131
Sept. 23, 2010
Ministry of Energy, Mines and Petroleum Resources
$20 MILLION SEPTEMBER NATURAL GAS AND PETROLEUM SALE
The September 2010 natural gas and petroleum sale resulted in nearly $20 million in bonus bids, bringing the calendar year total to over $780 million.
The Sept. 22 sale offered 70 parcels covering 29,863 hectares, and sold 53 parcels covering 22,212 hectares. The average price for this sale is approximately $897 per hectare.
The key parcels in the sale included:

• Two drilling licences in the Muskwa River area, 35 kilometres west of Fort Nelson, with bids of approximately $1,500 and $3,500 per hectare for a total of over $6 million.
• Four leases south of the Blair Creek Gas Field, 90 kilometres north of Hudson's Hope, with per-hectare bids between $2,800 and $4,220 for a total of nearly $4 million.

Drilling licences provide the exclusive right to explore for natural gas by drilling wells. They are acquired by the successful bidder at the Crown sale, and primary terms are three, four or five years, depending on location.
Leases provide the exclusive right to produce natural gas and petroleum. They are acquired by the successful bidder at the Crown sale, or selected from permits and drilling licences. Primary terms are five or 10 years, depending on location.
Natural gas and petroleum activities play a vital role in B.C., generating significant wealth and employing thousands of British Columbians. Revenues from rights sales provide immediate economic benefits, funding vital social programs and infrastructure development in communities throughout the province.
The Province will be recognizing the contributions of the natural gas and petroleum sector to the B.C. economy during Oil and Gas Week, Oct. 10-16.
The next sale, scheduled for Oct. 20, 2010, will offer 25 parcels covering 11,528 hectares.
Complete results of the sale are posted on the website of the Ministry of Energy, Mines and Petroleum Resources: http://www.empr.gov.bc.ca/Titles/OGTitles/SaleResults/Pages/default.aspx.
For more information on government services or to subscribe to the Province's news feeds using RSS, visit the Province's website at www.gov.bc.ca.

For more information, please contact

Ministry of Energy, Mines and Petroleum Resources
Jake Jacobs
Public Affairs Officer
250 952-0628 or 250 213-6934 (cell)
www.gov.bc.ca

 

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Oil and Gas Stocks;  Traverse Energy Ltd. (TSX VENTURE:TVL) Grants Stock Options

CALGARY, ALBERTA--(http://www.investorideas.com/ energy stocks blog )- Sept. 23, 2010) - Traverse Energy Ltd. ("Traverse") (TSX VENTURE:TVL) announces that it granted stock options to its directors and officers to purchase 675,000 common shares with an exercise price of $0.60 per share and an expiry date 5 years from the date of grant. The options granted vest immediately upon grant. The total number of options outstanding as of the date hereof is 2,625,000.


Traverse is a junior oil and natural gas exploration and production company with a substantial land base in Alberta. The common shares of Traverse are listed on the TSX Venture Exchange under the trading symbol "TVL".

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact
Traverse Energy Ltd.
Mr. Laurie Smith
President & CEO
403-264-9223
or
Traverse Energy Ltd.
Suite 800, 839 - 5th Avenue SW
Calgary, Alberta T2P 3C8

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Oil and Gas Stocks ; Penn West Energy Trust (TSX:PWT.UN) (NYSE:PWE) and Mitsubishi Corporation Announce Closing of Previously Announced Strategic Joint Venture

Oil and Gas Stocks ; Penn West Energy Trust and Mitsubishi Corporation Announce Closing of Previously Announced Strategic Joint Venture

CALGARY, ALBERTA--(http://www.investorideas.com/ energy stocks blog )  - Sept. 23, 2010) - Penn West Energy Trust ("Penn West") (TSX:PWT.UN) (NYSE:PWE) has closed the previously announced joint venture (the "Joint Venture") with a wholly owned subsidiary of Mitsubishi Corporation ("MC"). The Joint Venture has been formed to develop shale gas assets in the Cordova Embayment area and certain conventional gas assets in the Wildboy area of northeastern British Columbia (the "Assets"). As part of the agreement, MC acquired a 50 percent interest in the Joint Venture consisting of current production of approximately 30 million cubic feet per day (gross) of conventional natural gas, 550,000 acres (gross) of land including approximately 120,000 acres (gross) targeting shale gas in the Cordova Embayment, as well as a 50 percent interest in the Wildboy gas processing facility, the sales gas pipeline connecting the area to the TransCanada system in Alberta, and all associated infrastructure. In return, Penn West received approximately $250 million in initial consideration and MC has committed to spend $600 million of the first $800 million of initial development capital associated with the JV.


About Penn West
Penn West is one of the largest conventional oil and natural gas producers in North America and the largest producer of light and medium oil in western Canada. Based in Calgary, Alberta, Penn West operates throughout the Western Canadian Sedimentary Basin on a land base encompassing approximately 7 million acres.
Penn West Units and debentures are listed on the Toronto Stock Exchange under the symbols PWT.UN, PWT.DB.E and PWT.DB.F and Penn West Units are listed on the New York Stock Exchange under the symbol PWE.


About Mitsubishi Corporation
Mitsubishi Corporation (MC) is Japan's largest general trading company (sogo shosha) with over 200 bases of operations in approximately 80 countries worldwide. Together with its over 500 group companies, MC employs a multinational workforce of approximately 60,000 people. MC has long been engaged in business with customers around the world in virtually every industry, including energy, metals, machinery, chemicals, food and general merchandise.
MC seeks to contribute to the enrichment of society through business firmly rooted in principles of fairness and integrity.

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Oil and Gas Stock News; Suroco Energy (TSX.V:SRN) Announces Increase of Proposed Private Placement to Up to $13.2 Million Worth of Common Shares

CALGARY, ALBERTA--(http://www.investorideas.com/ energy stocks blog )  - Sept. 23, 2010) -

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

Suroco Energy Inc. (TSX VENTURE:SRN) (the "Corporation") announces its intention to increase the size of its recently announced proposed private placement (the "Private Placement") to up to $13.2 million worth of common shares, subject to the approval of the TSX Venture Exchange. The Corporation announced in its September 9, 2010 press release that it proposed to undertake a private placement of common shares, on a non-brokered basis, at $0.45 per share. Pursuant to the Private Placement, up to 29,333,333 common shares of the Corporation may be issued. The Private Placement is expected to close on or before September 27, 2010 or such other date or dates that the Corporation determines.
It is anticipated that the net proceeds of the Private Placement will be used by the Corporation to fund its exploration and appraisal activities in Colombia and for general corporate purposes.


The Private Placement is subject to the approval of the TSX Venture Exchange, which may impose conditions in connection with its approval of the Private Placement.
All securities issued in connection with the Private Placement will be subject to a four-month hold period.
The Corporation is a Calgary-based junior oil and gas company, which explores for, develops, produces and sells crude oil, natural gas liquids and natural gas in Colombia and Western Canada. The Corporation's common shares trade on the TSX Venture Exchange under the symbol SRN.


Forward-Looking Statements
This press release contains forward-looking statements relating to the Private Placement and the use of funds from the Private Placement. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things: the risk that the Private Placement will not be completed, the failure to obtain the necessary regulatory approvals for the Private Placement and the state of the economy in general and capital markets in particular.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Corporation undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
This press release does not constitute and the subject matter hereof is not, an offer for sale or a solicitation of an offer to buy, in the United States or to any "U.S Person" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "1933 Act")) of any equity or other securities of the Corporation. The securities of the Corporation to be issued in connection with the proposed Private Placement have not been registered under the 1933 Act and may not be offered or sold in the United States (or to a U.S. Person) absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact
Suroco Energy Inc.
Alastair Hill
President and Chief Executive Officer
(403) 232-6784
(403) 232-6747 (FAX)
or
Suroco Energy Inc.
Travis Doupe
Vice-President, Finance and Chief Financial Officer
(403) 232-6784
(403) 232-6747 (FAX)
http://www.suroco.com/

 

 

______________________________________________

 

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Investorideas.com - Oil and Gas Services Stocks Trading September 13th; (OTCPK: HWEG), (NYSE: SPN), (NYSE: PDS), (NYSE: SRE), (SLB)

Investorideas.com - Oil and Gas Services Stocks Trading September 13th; (OTCPK: HWEG), (NYSE: SPN), (NYSE: PDS), (NYSE: SRE), (SLB)


Category: Investment, Energy
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Visit this company: www.hemiwedge.com
September 13, 2010 (Investorideas.com energy newswire) - Investorideas.com, an investor research portal covering oil and gas stocks reports on oil and gas services stocks for September 13th.


Crude Oil Oct 10 is trading at $ 77.02 +0.57.
Energy Services Stocks Trading September 13, 2010
Dril-Quip, Inc. (NYSE: DRQ) trading at 58.93 USD, up 0.16 (0.27%)
Hemiwedge Industries (OTCPK: HWEG) trading at $0.12, following recent news - Hemiwedge Industries (OTCPK: HWEG) Announces $230 Thousand Order From Black Gold Rental Tools, Inc. - August 25, 2010
Precision Drilling Corporation (NYSE: PDS) trading at $6.44 USD, up 0.03 (0.47%)
Sempra Energy (NYSE: SRE ) trading at $53.0901 USD, down 0.1999 (0.38%)
Schlumberger Limited (SLB) trading at $ 59.88 USD, up 0.57 (0.96%)
Superior Energy Services, Inc. (NYSE: SPN) trading at $ 24.70 USD, up 0.97 (4.09%)



Sector Gains – at time of release
SEMICONDUCTOR 3.2%
BANK 3%NETWORK 2.9%
STEEL/IRON 2.6%
SHIPPING 2.1%
MACHINERY 2%
HOMEBUILDER 1.4%
INSURANCE 1.4%
INTERNET 1.2%
RETAIL 1.2% 13
Sep, 12:55pm ET (delayed)


Sector Snapshot Showcase
Dril-Quip, Inc. (NYSE: DRQ) -Dril-Quip is a leading manufacturer of highly engineered offshore drilling and production equipment which is well suited for use in deepwater, harsh environment and severe service applications.
Hemiwedge Industries (OTCPK: HWEG) operates as an energy field services company and through its subsidiary, Hemiwedge Valve Corporation, develops and commercializes proprietary valve product lines. Hemiwedge Valve Corporation ("HVC"), a wholly-owned subsidiary of Hemiwedge Industries, operates as a global supplier of engineered valve products. In its 60,000 square foot ISO 9001 and API Q1 approved facility in Conroe, Texas, the Company manufactures and markets worldwide a patented proprietary valve technology known as the Hemiwedge® Cartridge valve product line. www.hemiwedge.comVisit the company profile at Investorideas.com
Request News & Updates from Hemiwedge Industries (OTCPK: HWEG) at the Investorideas.com sign up page



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Investorideas.com - Investing in the Paris Basin Shale Oil Play

Investorideas.com - Investing in the Paris Basin Shale Oil Play


Keith Schaefer, Editor, Oil & Gas Investments Bulletin
September 22, 2010
Category: Investment, Oil, Gas, Energy
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Visit this company: www.oilandgas-investments.com


10x Bigger than the Bakken
(Investorideas.com energy newswire) The Paris Basin shale oil play in France has the potential to be ten times the size of the Bakken play in North America, and some high profile exploration is beginning soon.

Estimates range from just a few to many tens of billions of barrels of oil in the Paris Basin. Much like the North American shale plays, these formations have been drilled through many times – there are over 1000 wells drilled into the Basin – so exploration risk is low. It's completion risk – how to best unlock the oil from the rock – that is the main risk.
So there is a lot of data, which makes exploration much less risky. It also means that local residents are used to having oil wells drilled in the region – unlike New York State ;).
The Oil and Gas Investments Bulletin focuses on the junior and intermediate oil and gas sector with a completely independent voice. I have found a Bakken oil producer with years of low risk growth in front of it, and if natural gas prices move up, it potentially has one of the largest and lowest cost plays in North America – and most investors have NEVER heard of it! CLICK HERE TO ACCESS YOUR FREE SPECIAL SUMMER STOCK REPORT FROM OIL AND GAS INVESTMENTS!
Activity by explorers in this part of France has been growing, and is now hitting a fever pitch. A huge land race is underway, with applications for more than 1.6 million acres pending approval for several companies, including Toreador Resources (TRGL-NASD) in the US, Vermillion Energy (VET.UN-TSX) and Realm Energy (RLM-TSXv) in Canada.
Exploration – real drilling – in the Paris Basin will ramp up this fall. Toreador Resources Corporation is the purest play. In May they announced an exploration deal with Hess Corporation (HES-NYSE) that could be worth as much as $265 million for 50% of Toreador's 600,000 acres in the play. They spud their first well into the play in Q4 2010. It will be one of the most watched wells in the world.
Canada's Vermilion Energy has also acquired acreage in the play and begun exploration activities. Vermilion is already recognized as France's largest oil producer.
Craig Steinke, Executive Chairman for Realm Energy, says "The Paris Basin is arguably the most exciting shale play in Europe right now. We expect to acquire a good-sized position in this play."
As I wrote about earlier, many of the European shale gas plays are being bought up by the majors, there are intermediate and junior producers in the game, which should keep news flow on the play steady for retail investors.
When this happened in North America, there was huge wealth creation as the juniors and intermediates were small enough that their stocks could benefit from a productive land position.
Like the big North American shale oil plays that enriched investors, the Paris Basin has big reserve potential, good existing well data, and a local population that's familiar with drilling.
Hopefully, history will repeat itself.
*Keith Schaefer owns Toreador
About Oil & Gas Investments Bulletin
Keith Schaefer, Editor and Publisher of Oil & Gas Investments Bulletin, writes on oil and natural gas markets - and stocks - in a simple, easy to read manner. He uses research reports and trade magazines, interviews industry experts and executives to identify trends in the oil and gas industry - and writes about them in a public blog. He then finds investments that make money based on that information. Company information is shared only with Oil & Gas Investments subscribers in the Bulletin - they see what he's buying, when he buys it, and why.
The Oil & Gas Investments Bulletin subscription service finds, researches and profiles growing oil and gas companies. The Oil and Gas Investments Bulletin is a completely independent service, written to build subscriber loyalty. Companies do not pay in any way to be profiled. For more information about the Bulletin or to subscribe, please visit: www.oilandgas-investments.com.
Legal Disclaimer: Under no circumstances should any Oil and Gas Investments Bulletin material be construed as an offering of securities or investment advice. Readers should consult with his/her professional investment advisor regarding investments in securities referred to herein. It is our opinion that junior public oil and gas companies should be evaluated as speculative investments. The companies on which we focus are typically smaller, early stage, oil and gas producers. Such companies by nature carry a high level of risk. Keith Schaefer is not a registered investment dealer or advisor. No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer to buy or sell the securities mentioned, or the giving of investment advice. Oil and Gas Investments is a commercial enterprise whose revenue is solely derived from subscription fees. It has been designed to serve as a research portal for subscribers, who must rely on themselves or their investment advisors in determining the suitability of any investment decisions they wish to make. Keith Schaefer does not receive fees directly or indirectly in connection with any comments or opinions expressed in his reports. He bases his investment decisions based on his research, and will state in each instance the shares held by him in each company. The copyright in all material on this site is held or used by permission by us. The contents of this site are provided for informational purposes only and may not, in any form or by any means, be copied or reproduced, summarized, distributed, modified, transmitted, revised or commercially exploited without our prior written permission.
© 2009, Oil & Gas Investments Bulletin
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Investorideas.com - Senior Energy Executive Karl W. Miller Renews Calls on President Obama to Focus on America, and Start Solving Energy and Housing Problems

Investorideas.com - Senior Energy Executive Karl W. Miller Renews Calls on President Obama to Focus on America, and Start Solving Energy and Housing Problems




Senior Energy Executive Karl W. Miller Renews Calls on President Obama to Focus on America, and Start Solving Energy and Housing Problems
Energy Commentary from Karl Miller - Read Bio and More infoSubscribe: Investorideas.com Energy Newswire: http://www.investorideas.com/RSS/feeds/Energy.xml
NEW YORK - September 20, 2010 (Investorideas.com energy newswire) - Leading Independent and Senior Energy Executive Karl W. Miller, through his advisors VBCC, today renewed calls for President Obama to start listening to senior industry executives and experts, resolve the U.S. real estate crisis and put a credible national energy plan in place. According to Mr. Miller:
The U.S. economy runs on three key factors: i) a stable housing market; ii) affordable and dependable energy supply; and iii) stable employment environment. Without these three critical factors functioning properly, there will be no meaningful economic recovery in the U.S. economy.
The defunct real estate loans in the residential and commercial marketplace must be properly vetted, written down to net realizable value, and moved off the banks, hedge funds and insurance company books. The U.S. regulators must force this to happen without preference for any specific group. There will be bankruptcies, bank failures and forced liquidations; these are the cold hard facts of a capitalist society, which the U.S. economy is founded upon.
Politicians must acknowledge where the U.S. economy and energy industry are today. We have serious and deep rooted problems with no credible national energy plan in place and must start addressing these problems immediately.
The U.S. needs a credible and sensible energy policy and emissions plan. We have "abundant natural gas and other energy resources" to support our energy needs for many years into the future. It is time for Washington to take stock in America and start executing on a credible business plan.
Failure to execute is cause for termination in any business, including Washington politicians, and all things are possible in the November 2010 elections.
About Mr. Karl W. Miller:
Mr. Miller is a globally recognized energy executive and institutional investor with a balance of both financial and energy sector expertise. Mr. Miller began his career on Wall Street during the 1980s and has an extensive background in banking, commodities trading, risk management and asset energy asset acquisition and development.
Mr. Miller has a long history in the global energy business and has held a variety of executive management positions within the United States, Europe and Asia. Mr. Miller is widely viewed as an expert on distressed energy asset acquisitions and has acquired significant energy assets in the U.S. and internationally at significant discounts over his career.
Mr. Miller is an energy industry expert with focus on trading, risk management, power plant development and overall management of energy companies in the oil, natural gas and renewable sectors. Mr. Miller has built, restructured and managed energy businesses for major public energy companies on several continents, including PG&E Corporation, Electricite de France, El Paso Energy, Enron Corporation and JPMorgan Chase.
Mr. Miller holds an MBA in Finance from the Kenan-Flagler Business School at The University of North Carolina, Chapel Hill. Mr. Miller also holds a B.A. in Accounting from Catholic University located in Washington, DC.
Karl Miller Disclaimer:
Energy Commentary and Analysis from Karl Miller is the opinion of Karl Miller. Content found in the articles does not represent a recommendation of investment advice by Mr. Miller. Investors should seek the advice of a qualified investment professional prior to making any investment decisions.
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