Energy News ; Weekly Geopolitical Summary

Energy News ; Weekly Geopolitical Summary



- Russia Makes Major Headway with South Stream Pipeline

- Pakistani Supply Route Blockade Puts ISAF Forces at Risk

- US Drones Kill Five German Nationals, Amid Europe-Wide Terror Alert

- Bosnian Elections See Moderate Gains, but Little Hope for Change

- Nigeria Attacks May Show Dangerous Rift in MEND

- UK Diplomats Targeted in Yemen Attack



Russia Makes Major Headway with South Stream Pipeline



Russia's South Stream pipeline plans have increased momentum, netting formal agreements in the Balkans, most recently with Bosnia's Serb-dominated entity of Republika Srpska and Macedonia. The president of Bosnia's Republika Srpska entity, Milorad Dodik, and Russian Energy Minister Sergei Shmatko signed an agreement on 15 September in Moscow formally expressing interest in the construction of a branch of the South Stream pipeline through Republika Srpska.



If a feasibility study carried out by Russia's state-owned gas giant Gazprom over the next couple of months proves positive, Republika Srpska would build a 480-kilometer branch of the South Stream pipeline through northern Bosnia, carrying up to 1.5 billion cubic meters of gas annually. Dodik told news agencies after the signing of the agreement that he expected the feasibility study to be completed and the green light given for the project within a couple of months.



Then, on 1 October, officials in Macedonia met with a Russian delegation from Gazprom to discuss the feasibility of participating in the South Stream pipeline. Macedonia is interested in joining the project, with Macedonian Finance Minister Zoran Stavrevski telling local media on 2 October that the country's involvement would lead to long-term gas supply stability that is of "crucial importance for the country's economic development ... and foreign investment."



Gazprom Project Director Leonid Chungov said that the Russian state-owned gas giant was now considering the feasibility of Macedonia's involvement in the pipeline, telling reporters that "we have come to a joint conclusion that, due to rising gas demand, we need to consider the option of a gas pipeline transiting Macedonia." Slovenia signed on to the project in November 2009, and Croatia signed on in March 2010.



Analytical Note:



Macedonia's involvement in the South Stream gas pipeline is still unclear. Gazprom officials say that it will take at least a year to determine the feasibility and type of role Macedonia could play. At the same time, the Macedonian finance minister told reporters that constructing a branch of the pipeline through the country might not be an option as it would necessarily automatically involve neighboring countries Albania and Kosovo.



Unlike its main competitor, the Nabucco pipeline - a Western endeavor seeking to transport Middle Eastern, Central Asia, and Caucasian gas to Europe, bypassing Russia - Russia's South Stream pipeline has met with fewer political and logistical obstacles. The South Stream pipeline, which should be operational by 2015, will transport Russian gas to the Black Sea and then on to Europe.



Serbia, Bulgaria, Hungary, and Greece are all formal participants, while Croatia, Slovenia and Bosnia having formally expressed interest pending further discussions and feasibility studies. The race to complete both pipelines will largely determine the balance of power in the Balkans and the wider region.



While Nabucco has the support of Turkey, Bulgaria, Romania, Hungary, and Austria, the South Stream has the support of Italy, Serbia, Macedonia, Slovenia and Greece. Presently, Russia's South Stream pipeline plans are more concrete, though in recent months, Nabucco has made some progress.



That said, the back-and-forth between Turkey and the European Union over the former's membership in the bloc could set more obstacles in the way of the pipeline's progress. The South Stream pipeline has not been plagued with such disagreements. Serbia stands to become a key regional hub in the South Stream energy setup. Republika Srpska's participation in the South Stream pipeline became inevitable in 2009 when Serbia's state-run Srbijagas acquired a 40% share in Republika Srpska's Gaspromet.



Once the South Stream pipeline is fully operational, Serbia will, as such, control much of Bosnia's natural gas supplies. In Bosnia, Federation entity gas authorities have criticized the Republika Srpska plan to join the South Stream pipeline as being politically motivated and financially unsound because there is not a large enough consumer base to support the project.



Now, delivery of Federation gas comes only from Serbia, but plans are underway for a pipeline connection to Croatia, according to Federation authorities. According to the director of BH-Gas - the Federation's gas distributor - Almir Becarevic, European institutions marked the feasibility study for the construction of a 250-kilometer pipeline connecting the Federation with Croatia as the most profitable, and a large share of the financing for that project has already been arranged with the European Bank for Reconstruction and Development (EBRD).



By Jen Alic for the Global Intelligence Report. http://www.globalintelligencereport.com/



Pakistani Supply Route Blockade Puts ISAF Forces at Risk



Last week, in apparent retaliation for NATO's cross-border air strikes on Pakistani territory, which were conducted without advance discussions with Pakistani officials, Islamabad imposed a blockade on NATO's Afghan supply route. On 5 October, a NATO container truck was damaged by a small blast near the border after a bomb was placed underneath the truck, which was waiting in a convoy of thousands of tankers and trucks stuck on the border. On 6 October, insurgents burned 22 tankers carrying fuel for NATO's forces in Afghanistan, killing one truck driver on the outskirts of Pakistan's southwestern city of Quetta. In the past week, Taliban forces have taken advantage of the blockade, destroying over 40 NATO supply trucks. The Taliban have vowed more attacks on the NATO supply route if Islamabad continues to allow NATO supplies through. NATO and Pakistani officials met in Brussels on 4 October, but no agreement was reached. On 6 October, NATO officials said Pakistan may soon re-open the supply route, following the release of the Alliance's investigation into the 30 September helicopter strikes on Pakistani territory (three Pakistani soldiers were killed in the strikes).



Analytical Note: Some 40% of NATO's supplies for the war in Afghanistan come through Chaman in southwest Balochistan province and through Torkham in northwest Khyber Pakhtunkhwa province. Islamabad's blockade of NATO's Afghan supply route is largely a reflection of the tenuous position of the government and President Asif Ali Zardari, who is under pressure over his failure to adequately deal with the massive floods in the face of a strong military that is pushing for his removal. Blocking the Afghan supply route should score him some points among the public, which is outraged over what it views as US incursions on its territory and the violation of its sovereignty. Lifting the blockade will require a strongly worded public apology from Washington, and guarantees that future air strikes will not be conducted without communications from Pakistani security forces. What will not ease the situation is a report released by Washington on 6 October criticizing Pakistan's efforts to fight militants on its territory. The White House report strongly criticizes President Zardari, and could result in Congress cutting support for billions in aid to Pakistan. This report will make it difficult for Zardari to save public face and re-open the Afghan supply route.



US Drones Kill Five German Nationals, Amid Europe-Wide Terror Alert



Five to eight German nationals were killed on 5 October in a CIA drone strike in Pakistan's tribal region bordering Afghanistan. The strikes were apparently part of a stepped-up CIA campaign said to be targeting credible threats of attacks on Europe by al-Qaeda. The strikes coincide with the US issuance of a Europe-wide terror alert said to be linked to intelligence that came from an Afghan-born German militant. The German nationals killed were reportedly of Arab and Pakistani origin. Washington reportedly has given Germany precise information on potential terrorist targets, including the central railway station and the television tower, as well as the Brandenburg Gate. While Washington is flooding the press with serious terror alerts for Europe, European officials are more sober.



Analytical Note: The drone attacks spiked in September, mostly in Pakistan's tribal North Waziristan, and have continued their momentum since. Pakistani officials refute Washington's claims of the numbers of 'foreign' fighters operating in the region. The timing of the US terror alert could be suspect: terror attack fears could boost the case for increased defense budgets. But it could also be a move designed to force Pakistan to take swifter action against militants in its own backyard. Europe should take the warnings seriously, but reactions should be sober and with precedents in mind.



Bosnian Elections See Moderate Gains, but Little Hope for Change



More than 8,000 candidates from 39 political parties and 11 coalitions competed for seats in Bosnia-Herzegovina's central parliament and tripartite presidency during 3 October elections. The Bosnian Croat and Bosniak seats look set to go to supporters of a unified Bosnia, while the Bosnian Serb representative is vowing more strength for entities - a situation that has created deadlock in the work of the presidency over the past four years. The moderate Social Democrat Party's (SDP) Zeljko Komsic won the presidency's Croat seat, beating ethno-nationalist Croat Democratic Union (HDZ) candidate Borjana Kristo. The Bosniak front-runner was Bakir Izetbegovic, of the predominantly ethno-nationalist Bosniak Party for Democratic Action (SDA). Komsic's victory was disputed by Croat nationalists who said he earned it thanks to Bosniak, not Croat voters, and vowed to press for an early election in two years. In the lead for Bosnian Serb post was the incumbent Nebojsa Radmanovic, of the Alliance of Independent Social Democrats (SNSD), the party which during the election campaign raised the possibility of seceding from the country. While Komsic and Radmanovic hold on to their presidential seats, Izetbegovic will replace Haris Silajdzic, who came in third, and whose Party for Bosnia and Herzegovina (SBiH), burdened with several corruption affairs, failed in the 3 October poll. Even though Izetbegovic is seen as more moderate than Silajdzic, it is hard to expect any major progress. Preliminary results for the central parliament are showing that the only change from the last elections in 2006 will happen in the areas where Bosniaks are the majority, gaining mostly at the expense of Bosniak ethno-nationalist parties. Most of the SBiH and SDA votes were taken by the newly founded Party for Better Future (SBB), led by media mogul Fahrudin Radoncic, who came up as the main surprise of the elections. With some 70% of votes counted, SDP is slightly ahead of SDA. But in the areas where Bosnian Serbs and Bosnian Croats are the majority, the elections were swept by Republika Srpska President Milorad Dodik's SNSD and

HDZ. SNSD's leader Milorad Dodik, who is leading in the presidential elections in Republika Srpska, and whose party won most of the Bosnian Serb votes on all levels.



Analytical Note: According to the results, the deep ethnic divisions will be maintained and offer no solution to the ongoing political stalemate. There is also little hope that the election results will introduce new leaders that could launch badly needed political reforms set by the EU. Most of the same political personalities and parties were voted into power. Aside from an increase of votes for the moderate party among the Bosniak voters, ethno-nationalists remain popular in the Bosnian Serb-dominated Republika Srpska entity and areas dominated by Bosnian Croats. Given the differences among the sides, it is hard to expect any progressive cooperation on the state level. The results of the elections could actually further entrench ethnic divisions as many candidates have put ethno-nationalist slogans at the heart of their electoral campaigns, which voters recognized and supported. Even though Bosniak voters recognized the need for change and voted for the SDP, which doubled its performance compared with the 2006 elections, overall, this is not as significant as it may appear, since the party will have to ally with other parties, which very well may not share their moderate views.





Nigeria Attacks May Show Dangerous Rift in MEND



Two suspects have been named in car bombings that killed more than a dozen people in the Nigerian capital of Abuja on 1 October on the occasion of the country's 50th independence anniversary. The suspects are said to be Nigerian, though President Goodluck Jonathan had earlier suggested that the group behind the attack was from outside the country. Also earlier, the Movement for the Emancipation of the Niger Delta (MEND) had allegedly claimed responsibility for the attack. Hours before the attack, MEND allegedly dispatched emails to various media houses, threatening that they would bomb the anniversary venue. MEND spokesman Jomo Gbomo had claimed that several explosive devices had been "successfully planted" in and around the venue, warning guests to leave the area by 10:30 a.m. The warning, which some newspapers published online, was not heeded by security forces. MEND leader Henry Okah was arrested in Johannesburg on 4 October. Okah told reporters that his group was not responsible for the attack.



Analytical Note: The original alleged statement from MEND claiming responsibility for the attack signifies possible internal complications. Okah has denied responsibility and even condemned the attacks. Last year, the group signed a ceasefire agreement with the government. That deal also called for amnesty and cash settlements for former fighters who turned in their weapons. This has apparently caused an internal rift within MEND, splitting it into factions. As such, the statement of responsibility could have come from one faction of MEND. MEND seeks to redistribute the massive oil wealth of the Niger Delta and ensure that the local population reaps some of the benefits from their natural resources. If MEND, or a faction of the group, was indeed behind the attacks in Abuja, it would be the first time the capital was targeted in such a way by the group and would signify major changes within the original group's repertoire.



UK Diplomats Targeted in Yemen Attack



On 6 October, the British deputy ambassador and four other embassy personnel were targeted in a rocket-propelled grenade attack in the capital Sana'a. One of the embassy personnel was slightly injured from shrapnel as were two civilian bystanders. Al-Qaida is being blamed for the attack. It was the second attack on British diplomats in Yemen this year. In April, militants targeted British Ambassador Tim Torlot in a suicide bombing that injured three bystanders. British forces have a fairly high profile in Yemen, playing a key role in economic and political development. Ambassador Torlot, targeted in April's assassination attempt, is due to be replaced in the coming weeks by Jon Wilks. Wednesday's attack came after Yemeni authorities boosted security around embassies in the capital city based on intelligence that al-Qaeda in the Arabian Peninsula (AQAP) was planning new attacks. The group on 25 December 2009 is believed to have been behind the Nigerian 'underpants bomber', who attempted to blow up a commercial airplane en route from Chicago to Amsterdam.



Analytical Note: According to Dr Dominic Moran, an expert with The Global Intelligence Report and ISAIntel, al-Qaeda in the Arabian Peninsula has become emboldened of late, with its Yemen-based claiming responsibility for the April assassination attempt against the British ambassador, the December 2009 commercial jet bombing attempt. Wednesday's attack is most probably a continuation of al-Qaeda attacks on foreign legations and representatives, which picked up pace over the last couple of years, following the collapse of alleged al-Qaeda understandings with the government after US pressure on Sana'a to step up the fight against the group. The group has also been emboldened by the arrival of al-Qaeda fighters from neighboring Saudi Arabia, following a major crack down there. In the past, the government of Yemen has used al-Qaeda to help fight Houthi rebels - al-Qaeda's sectarian rivals - in the south. Since late 2009, however, the government, under US pressure, has allegedly severed those links and begun targeting al-Qaeda. But the situation is a complex one, and the government's relationship with al-Qaeda was an important tool in the al-Houthi rebellion. As such, it is impossible to confirm with any real accuracy whether the government has indeed severed ties with al-Qaeda, or whether its new security sweeps have simply netted low-profile al-Qaeda figures in an attempt to ease US pressure. The increased number of attacks, likely by al-Qaeda forces, however, could signal that the government has indeed been working to sever those ties, which in turns means that more attacks can be expected in the near future.



Analysis by Global Intelligence Report staff



The global Intelligence Report is a Private news & Intelligence service for sophisticated news consumers, investors and energy market participants. Our breaking stories are often ahead of the mainstream media and our reports do a lot more than just deliver the news. To find out more please visit: www.GlobalintelligenceReport.com



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Oil and Gas Stocks; American Petro-Hunter, Inc. (OTCBB: AAPH) on Investorideas.com and our oil, gas and energy portals

Oil and Gas Stocks; American Petro-Hunter, Inc. (OTCBB: AAPH) on Investorideas.com and our oil, gas and energy portals

American Petro-Hunter, Inc.

American Petro-Hunter, Inc. (OTCBB: AAPH) is a goal-oriented exploration and production (E&P) Company aiming to become an intermediate level oil and gas producer within 12 months. The Company is in production at the Poston Project in Trego County Kansas with new drilling activity and production underway at the North Oklahoma Oil Project. With the achievable target of becoming a 1000 BOE producer as our goal, American Petro-Hunter is actively on the "hunt" for domestic petroleum assets

Oil and Gas Stocks; Hemiwedge Industries, Inc. (OTCPK: HWEG) Marketing and Operations Update

Oil and Gas Stocks; Hemiwedge Industries, Inc. (OTCPK: HWEG) Marketing and Operations Update

Revenues Increase 270% for the Nine Months Ending September 30, 2010 vs. Same Period in 2009

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CONROE, Texas - October 7, 2010 (Investorideas.com energy stocks newswire) - Hemiwedge Industries, Inc. (OTCPK :HWEG), a global supplier of engineered valves focusing in oil/gas production, refining, mining, process, pipeline, power, mid-stream and petro-chemical markets, issued the following marketing and operations update of the Company's progress today. Since the Company's update release in July 2010, the Company has acquired six new customers domestically and internationally and continued to grow operations.

Revenues for the Third Quarter and Nine Months ending September 30, 2010

Unaudited revenues for the third quarter ending September 30, 2010 were approximately $946,000, or an increase of 201%, as compared to the third quarter 2009. Revenues for the first nine months ending September 30, 2010 were approximately $2.53 million, or an increase of 270%, compared to the first nine months ending September 2009. Based on third quarter 2010 customer indications, company quotation activity and industry feedback, the Company currently anticipates some customer capital projects to be forthcoming in early 2011 that could bring sizable orders for its Hemiwedge® Cartridge valve product line.

Backlog and sales pipeline and overseas growth

Current backlog of purchase orders received, not yet shipped, totaled approximately $355,000 on September 30, 2010. The customers associated with this backlog include a domestic oilfield tool rental company, an energy services customer, a chemical process company and a products pipeline company. Quote activity has increased this year as compared to a year ago and the Company anticipates increasing future backlogs and orders.

New Customers and New Applications for Hemiwedge® Cartridge valve.

The Company's patented Hemiwedge® Cartridge valve product line continued to grow in the third quarter of 2010 with new customers in Canadian oil sands applications, oil production manifolds in South America, gas compressor applications domestically and a titanium dioxide process application with a European customer.

Public filing status

The Company currently anticipates these filings brought current by the end of this fiscal year possibly in two waves. The first, 2009 filings including the Company's annual report on Form 10-K completed and filed, then, the 2010 quarterly reports on Form 10-Q completed and filed. Getting the SEC filings current continues to be a priority for the Company.

About Hemiwedge Industries, Inc.

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. The Hemiwedge® Cartridge valve is a proven innovative design that incorporates a hemispherical wedge to provide a mechanically sealing, tight shutoff valve with a simple quarter-turn operation that provides outstanding longevity and performance in a broad range of applications. Unlike ball valves, the stationary core of the Hemiwedge® Cartridge valve directs flow away from the seat surfaces which allows longer service life. The "Cartridge" feature reduces expensive downtime during valve maintenance as all of the internal parts of the valve are attached to the bonnet, as a Cartridge, which allows a quick exchange of all the internals of the valve while the valve body remains in the line. This feature is especially relevant in weld-in line valve bodies and severe service applications. Hemiwedge® Cartridge valve has been successfully used by reference customers in applications including refining, mining, process, pipeline, power, mid-stream and petro-chemical markets. The product line currently ranges in bore sizes from one inch to twenty inches, API 6D monogram, and ANSI class 150 through 900. For additional information on the Company and its products, please visit http://www.hemiwedge.com/.

Forward-Looking Statements

This document contains discussion of items that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include, but are not limited to, customer concentration risk, difficulties in refinancing or restructuring its debt, difficulties in accelerating internal sales growth, volatility of the energy business and its effects on the Company's business, difficulties in new technology acceptance within the energy and process industries, restrictive covenants in our existing credit facilities, fluctuations in metals prices, an inability to perform customer contracts at anticipated cost levels, political and economic global supply chain risk, general economic conditions in markets in which we do business, extensive environmental and workplace regulation by federal and state agencies, and other general risks related to its common stock, and other uncertainties and business issues that are detailed in its filings with the Securities and Exchange Commission. All information provided in this release and in the attachments is as of May 11, 2010 and the Company undertakes no duty to update this information.

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Energy News; The Gas Cartel Idea: On the Road to Another OPEC?

Energy News; The Gas Cartel Idea: On the Road to Another OPEC?

(http://www.investorideas.com/ energy stocks blog )

As oil sees its image tarnished from the disastrous oil spills that took place off the coast of the Gulf of Mexico and off the coast of Dalian, China, and as the most promising oil fields remain off limit to the Western oil majors, gas is gaining in popularity.

Gas is present in large quantities and in many countries of less questionable reputation such as in the United States and is also less harmful to the environment than oil. Though gas is not intended to replace oil, some gas-rich countries such as Russia and Iran are strongly advocating for a gas cartel to regulate the industry, which can explain the reluctance of Russia to adopt sanctions towards Iran at the United Nations as both countries heavily rely on the income generated by their natural resources.

When the 156th Meeting of the OPEC Conference ended in Vienna in March 2010, the idea of a gas cartel was still floating in the air.  The Organization of the Petroleum Exporting Countries is a 50 years old organization whose mission, according to Article 2 of its Statute, is to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry.

Its members are Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela.

In 2001 The Gas Exporting Countries Forum was established in Tehran, Iran. Though it isn’t an equivalent to OPEC, it is a venue for gas producing countries to meet.  Its members are Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago and Venezuela.  Algeria, Iran, Nigeria, Qatar and Venezuela belong to both.

Interestingly, Russia is not part of OPEC as it never wanted any organization to monitor, control and regulate its output. In fact, Russia was taking advantage of OPEC self-imposed output reductions to increase its own output. In the second quarter of 2009, Russia exports rose to 7.4 million barrels per day against 7 billion barrels per day for Saudi Arabia.

What Benefits for Gas Users?

When the price of oil went skyrocketing OPEC did not react too promptly to alleviate the burden on oil consumers despite its stated commitment to economic supply to consumers. After all, every additional dollar to the price of a barrel results in billions in the bank at the end of the year for many oil-producing countries.

Few countries had excess capacity to offer to increase the offer in order to alleviate the out of control price escalation. Saudi Arabia, the only country that had then an excess capacity of about 2 million barrels per day and sufficient enough to cool down the market, dragged its feet when oil prices spiked out of control to reach almost $150 per barrel in the summer of 2008 and only released about 250,000 more barrels per day which did little at the time to put an end to this price inflation. In this context, one can wonder what gain end-users would get from the creation of a gas cartel operating in similar ways to OPEC.

Russia’s bad habits of cutting off gas when having disputes with its Ukrainian and Belarusian neighbors - through which transits respectively 80% and 20% of the gas going to Europe – has shown that Russia has no qualms about using energy as a political and economic pressure tool irrespective of the damage to its long-term public image.

Many member countries of OPEC are often the first ones to break the quotas such as Angola and Nigeria, the latter overproducing 300,000 barrels per day in December 2009. The result is that some countries end up having to produce more oil to offset the drop in price, pushing the price of oil further down. The lack of effective sanction mechanisms towards cheaters plagues OPEC and would probably plague a gas cartel, as no country would really want to be part of an organization sanctioning them too harshly.

It is also questionable to think that some countries would want any interference with what is for them a critical life supply of hard currency. For instance, Libya is known for doing what it feels like doing. Furthermore, it has signed some very promising contracts, notably with Italy to supply Europe via a Southern route that is very appealing to counterbalance the unpredictable Eastern route controlled by Russia.

Another country like Turkmenistan, said to hold the 4th or 5th largest world gas reserves has repeatedly put forward its neutrality status and would not want to get caught in political games that would undermine its status.  Also, after having been heavily dependent on the goodwill of Russia and on the Gazprom pipelines for the transit of its gas to Europe, which was interrupted for nearly nine months in 2009, it is doubtful Turkmenistan would want to be told how much it could supply China, which became a leading client after the opening in 2010 of a new pipeline linking Turkmenistan to China via Kazakhstan and Uzbekistan.

Another factor to take into consideration is the huge infrastructure and equipment investments made by some countries to become leaders in the Liquefied Natural Gas (LNG) industry.  LNG is a revolution in the energy industry as long pipelines are no longer part of the equation, except to bring LNG to the tankers. Some countries have become leaders such as Algeria, Libya and Qatar. Others, such as Australia, Egypt, Nigeria and Norway are building up their export capabilities.

Gas Cartel coming soon to town?

In light of the above it is very doubtful that a gas cartel as structured as OPEC will become a reality. The inability to strictly enforce quotas and to sanction wrongdoers is little incentive for any rule-abiding country to become a member. The prevalence of individual interests with some of its members not abiding by the rules and decisions of the cartel has weakened the organization.

Furthermore, though OPEC members hold two thirds of world reserves, they only account for less than 40% of world oil, enabling a lot of other players to have an impact on the oil scene outside the framework of OPEC. The Gas Exporting Countries Forum will remain, as it name states it a forum, but the creation of a legal structure is most doubtful and so is the ability of the existing members of the Forum to structure it into a well-operating international organization.

Source: http://www.globalintelligencereport.com/articles/The-Gas-Cartel-Idea-on-the-Road-to-Another-OPEC

Analysis by Global Intelligence Report staff

The global Intelligence Report is a Private news & Intelligence service for sophisticated news consumers, investors and energy market participants. Our breaking stories are often ahead of the mainstream media and our reports do a lot more than just deliver the news. To find out more please visit: http://www.globalintelligencereport.com/

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TSX Venture Exchange Closing Summary for October 4, 2010; Energy Stocks Most Active by Volume

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ energy stocks  blog )
- The following report is available on tsx.com at the following web page:

http://www.tsx.com/en/news_events/media_kit.html

TSX Venture Exchange Closing Summary for October 4, 2010

Trading was very heavy on a volume of 297.7 million shares worth 156.3 million dollars.

There were 381 advances, 511 declines and 530 issues unchanged.

The S&P/TSX Venture Composite Index closed down 5.23 at 1739.56

Most Active Issues by Volume

Volume      Name                                  Symbol    Close    Change

12,961,253  Alange Energy Corp                       ALE   $0.500    $0.035
4,786,525   Ithaca Energy Inc                        IAE   $2.170    $0.100
4,586,153   Sonoro Energy Ltd                        SNV   $0.320   -$0.065
4,425,736   Beaufield Resources Inc. (Ressources Be  BFD   $0.400   -$0.050
4,120,010   Monarch Energy Limited                   MNL   $0.020    $0.015
3,851,986   Advanced Explorations Inc.               AXI   $0.740    $0.250
3,778,479   Knight Resources Ltd.                    KNP   $0.110    $0.020
3,274,806   Diamond International Exploration Inc    DIX   $0.030    $0.000
2,824,733   Canadian Imperial Venture Corp.          CQV   $0.055    $0.010
2,490,206   Woulfe Mining Corp.                      WOF   $0.110   -$0.005


Most Active Securities by Value

Value       Security Name                         Symbol    Close    Change

$10,256,568 Ithaca Energy Inc                        IAE   $2.170    $0.100
$7,793,233  Sterling Resources Ltd                   SLG   $3.620    $0.330
$7,518,638  San Gold Corporation                     SGR   $3.250   -$0.100
$6,544,686  Alange Energy Corp                       ALE   $0.500    $0.035
$3,373,527  Rainy River Resources Ltd.                RR   $8.310   -$0.110
$2,937,378  GASFRAC  Energy Services Inc             GFS   $7.110    $0.230
$2,478,362  Romarco Minerals Inc.                      R   $2.320   -$0.040
$2,425,416  Advanced Explorations Inc.               AXI   $0.740    $0.250
$2,180,210  Bear Creek Mining Corporation            BCM   $6.100   -$0.120
$1,892,699  Beaufield Resources Inc. (Ressources Be  BFD   $0.400   -$0.050

NEX Closing Summary for October 4, 2010

Trading was moderate on a volume of 1.25 million shares worth 0.09 million dollars.

There were 6 advances, 2 declines and 17 issues unchanged.

Most Active Issues by Volume

Volume      Name                                  Symbol    Close    Change

285,000     EcoMax Energy Services Ltd.            EES.H   $0.020    $0.000
281,000     Zaruma Resources Inc                   ZMR.H   $0.055   -$0.010
252,000     Atlantis Systems Corp                  AIQ.H   $0.025    $0.005
101,190     First Metals Inc                       FMA.H   $0.005    $0.000
71,500      Cheetah Ventures Ltd                   CHV.H   $0.270   -$0.040
50,000      Ava Resources Corp                     AVS.H   $0.105    $0.000
44,704      Balto Resources Ltd                    BAL.H   $0.090    $0.030
40,000      Cadomin Capital Corporation            CDK.H   $0.030    $0.005
27,015      Chantrell Ventures Corp                 CV.H   $0.450    $0.050
20,000      Citadel Gold Mines Inc                 CGM.H   $0.125    $0.000


Most Active Securities by Value

Value       Security Name                         Symbol    Close    Change

$20,455     Cheetah Ventures Ltd                   CHV.H   $0.270   -$0.040
$15,455     Zaruma Resources Inc                   ZMR.H   $0.055   -$0.010
$12,005     Chantrell Ventures Corp                 CV.H   $0.450    $0.050
$6,080      Atlantis Systems Corp                  AIQ.H   $0.025    $0.005
$5,700      EcoMax Energy Services Ltd.            EES.H   $0.020    $0.000
$5,625      Ava Resources Corp                     AVS.H   $0.105    $0.000
$4,655      Cobre Exploration Corp.                CKB.H   $0.245   -$0.005
$3,953      Balto Resources Ltd                    BAL.H   $0.090    $0.030
$3,217      Windamere Ventures Ltd                  WV.H   $0.290    $0.070
$2,500      Citadel Gold Mines Inc                 CGM.H   $0.125    $0.000

NOTE: This document is for information purposes only and is not an invitation to purchase any securities listed on TSX Venture Exchange and/or NEX. While the information herein is collected and compiled with care, neither TSX Venture Exchange Inc., TSX Inc. nor any of their respective affiliated companies represents, warrants or guarantees the accuracy or the completeness of the information. This information is provided with the express condition, to which by purchasing or making use thereof you expressly consent, that no liability shall be incurred by TSX Venture Exchange Inc., TSX Inc. and/or any of its affiliates as a result of any use or reliance upon this information.

"S&P" is a trade-mark of The McGraw-Hill Companies, Inc. and is used under licence by TSX Inc. and "TSX" is a trade-mark of TSX Inc.

For more information, please contact
TSX Venture Exchange - Closing Market Report
TSX Datalinx
(416) 947-4452
Email: marketdata@tsxdatalinx.com

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Energy Stocks; Magnum Hunter Resources (NYSE Amex: MHR) Declares Cash Dividend on Series C Perpetual Preferred Stock

HOUSTON, TX--(http://www.investorideas.com/ energy stocks blog  - October 4, 2010 -  Magnum Hunter Resources Corporation (NYSE Amex: MHR) (NYSE Amex: MHR-PC) (the "Company") announced today that it has declared a monthly cash dividend on the Company's 10.25% Series C Cumulative Perpetual Preferred Stock ("Series C Preferred Stock").


The dividend on the Series C Preferred Stock is payable on October 28, 2010, to holders of record on October 14, 2010. The payment will be an annualized 10.25% per share, which is equivalent to approximately $0.6406 per share, based on the $25.00 per share liquidation preference of the Series C Preferred Stock. The Series C Preferred Stock is currently listed on the NYSE Amex and trades under the ticker symbol "MHR-PC".
About Magnum Hunter Resources CorporationMagnum Hunter Resources Corporation and subsidiaries are a Houston, Texas based independent exploration and production company engaged in the acquisition of exploratory leases and producing properties, secondary enhanced oil recovery projects, exploratory drilling, and production of oil and natural gas in the United States. The Company is presently active in three of the "big four" emerging shale plays in the United States.
For more information, please view our website at http://www.magnumhunterresources.com/

Forward-looking Statements

This press release contains statements concerning Magnum Hunter Resources Corporation's expectations, beliefs, plans, intentions, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are not historical facts. These statements and others contained in this presentation that are not historical are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and the Private Securities Litigation Reform Act of 1995 (the "Litigation Reform Act"). Actual results may differ materially from those expressed or implied by these statements. You can generally identify our forward-looking statements by the words "anticipate", "believe" ,"continue", "could", "estimate", "expect", "forecast", "goal", "intend", "may", "objective", "plan", "potential", "predict", "projection", "should", "will", or other similar words. Such forward-looking statements relate to, among other things: (1) the Company's proposed exploration and drilling operations on its various properties, (2) the expected production and revenue from its various properties, (3) the Company's proposed redirection as an operator of certain properties and (4) estimates regarding the reserve potential of its various properties. These statements are qualified by important factors that could cause the Company's actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to: (1) the Company's ability to finance the continued exploration, drilling and operation of its various properties, (2) positive confirmation of the reserves, production and operating expenses associated with its various properties, (3) the general risks associated with oil and gas exploration, development and operations, including those risks and factors described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission, including but not limited to the Company's Annual Report on Form 10-K for the period ended December 31, 2009 filed on March 31, 2010, and the Company's Quarterly Reports on Form 10-Q for the quarters ending September 30, 2009, March 31, 2010, and June 30, 2010, filed on November 16, 2009, May 17, 2010, and August 12,2010, respectively. Magnum Hunter Resources Corporation cautions readers not to place undue reliance on any forward-looking statements. Magnum Hunter Resources Corporation does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.

Contact:
M. Bradley Davis
Senior Vice President of Capital Markets
bdavis@magnumhunterresources.com
(832) 203-4545

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Bakken Stocks; Brigham Exploration Announces State 36-1 #2H Rough Rider Three Forks Well Early Production Rate of 2,356 BOEPD, Three High Rate Bakken Completions, Additional Acreage Acquisitions and Provides Operational Update

AUSTIN, TX--(http://www.investorideas.com/ energy stocks blog )  - October 4, 2010) -  Brigham Exploration Company (NASDAQ: BEXP) announced the completion of the State 36-1 #2H Rough Rider Three Forks well, its first Three Forks well west of the Nesson Anticline, at an early 24-hour peak flow back rate of approximately 2,356 barrels of oil equivalent. Brigham also announced three Bakken completions, including the Domaskin 30-31 #1H Ross project area well at an early 24-hour peak flow back rate of approximately 4,675 barrels of oil equivalent. As a result, Brigham has now completed 36 consecutive high frac stage long lateral Bakken and Three Forks wells in North Dakota with an average early 24-hour peak flow back rate of approximately 2,684 barrels of oil equivalent. In addition, Brigham announced the acquisition of additional leasehold covering approximately 10,200 net acres in the Williston Basin, approximately 7,600 of which is located in its core Rough Rider project area. Finally, Brigham provided an update on its drilling and completion activities in its core 205,600 net acres in the Williston Basin.
Rough Rider Three Forks High Rate Completion
In its Rough Rider project area in Williams County, North Dakota, Brigham announced the completion of the State 36-1 #2H Three Forks well, which was completed with 31 frac stages, at an early 24-hour peak flow back rate of approximately 2,356 barrels of oil equivalent (1,872 barrels of oil and 2.91 MMcf). The State 36-1 #2H represents Brigham's first Three Forks well completed west of the Nesson Anticline and based on publicly available information appears to represent a record Three Forks initial production rate west of the Nesson Anticline. The State 36-1 #2H represents Brigham's third Three Forks long lateral high frac stage completion. The two prior completions were east of the Nesson Anticline in Brigham's Ross project area and together averaged an early 24-hour peak flow back rate of 2,249 barrels of oil equivalent. Continued Three Forks success across its entire Rough Rider project area has the potential to add as many as 362 net drilling locations to Brigham's significantly de-risked development drilling inventory and could result in Brigham having an inventory of up to 933 net de-risked drilling locations within its current core acreage position. Brigham maintains an approximate 30% working interest in the State 36-1 #2H, which was completed with U.S. Energy Corp. (NASDAQ: USEG) as a working interest participant.
High Rate Ross Completion
In Mountrail County, North Dakota, Brigham announced the completion of the Domaskin 30-31 #1H, which was completed with 38 fracture stimulation stages, at an early 24-hour peak flow back rate of approximately 4,675 barrels of oil equivalent (4,106 barrels of oil and 3.42 MMcf). The Domaskin is located one mile to the west of the highest initial production rate Bakken well in the Williston Basin, the Brigham operated Sorenson 29-32 #1H, which was completed in April 2010 at an early 24-hour peak rate of 5,133 barrels of oil equivalent. Based on publicly available information, the Domaskin represents the fourth highest initial production rate Bakken well in the Williston Basin. Brigham has completed seven long lateral high frac stage Bakken wells in Ross at an average early 24-hour peak flow back rate of approximately 3,835 barrels of oil equivalent. Brigham maintains an approximate 65% working interest in the Domaskin. Also participating in the Domaskin is Lario Oil & Gas Company with a 12% working interest.
Acreage Acquisitions
Since early August 2010, Brigham has expanded its acreage position in the Williston Basin by approximately 10,200 net acres to an estimated 368,400 net acres. In its core Rough Rider project area, Brigham has expanded its acreage position by approximately 7,600 net acres, including a large acreage position obtained as a result of a transaction entered into with Zavanna, LLC. Inclusive of the acreage acquisitions, Brigham now has total core acreage of approximately 205,600 net acres.
Williston Basin Drilling and Completion Update
In its Rough Rider project area, Brigham announced the completion of the Larsen 3-10 #1H and the Boots 13-24 #1H Bakken wells, which produced at early 24-hour peak flow back rates of approximately 3,090 (2,631 barrels of oil and 2.75 MMcf) and 1,946 (1,773 barrels of oil and 1.04 MMcf) barrels of oil equivalent, respectively. The Larsen and Boots are located in Williams County and were both completed with 31 fracture stimulation stages. Brigham's working interests in the Larsen and Boots are approximately 72% and 74%, respectively. Brigham has completed 26 long lateral high frac stage Bakken wells in Rough Rider with an average early 24-hour peak rate of approximately 2,421 barrels of oil equivalent.
Brigham's accelerated development of its core operated acreage in its Rough Rider and Ross project areas is proceeding with four operated rigs drilling in Rough Rider and one operated rig drilling in Ross. Another operated rig is expected to arrive in early October and additional rigs are expected to arrive in January and May 2011, respectively, at which time Brigham will be continuously drilling with eight operated rigs.
Brigham currently has two wells fracing and nine wells waiting on completion. In the first quarter 2011, Brigham expects to add additional fracture stimulation capacity. At that time, Brigham estimates that approximately eight wells per month will be fracture stimulated and brought on line to production.
Management Comments
Bud Brigham, the Chairman, President and CEO, commented, "We're extremely excited by the results from our State 36-1 #2H Rough Rider Three Forks well. This well has generated an apparent record early 24-hour production rate for a Three Forks well west of the Nesson Anticline, and begins to potentially de-risk as many as 362 net Rough Rider Three Forks drilling locations. Combining our 571 drilling locations that are already significantly de-risked with as many as 362 net Rough Rider Three Forks drilling locations could result in our de-risked drilling inventory growing to up to 933 potential net locations. We believe success in the Three Forks in our Rough Rider project area represents a significant net asset valuation accretion event for our stockholders and other stakeholders."
Bud Brigham continued, "Our staff continues to manufacture oil wells on our current core acreage and deliver exceptional results. We've now completed 36 consecutive high frac stage long lateral Bakken and Three Forks wells in North Dakota with an average early 24-hour peak production rate of approximately 2,684 barrels of oil equivalent. Furthermore, with our Domaskin completion, we now have three of the four highest initial production rate Bakken wells in the Williston Basin."
Bud Brigham continued, "The results from our four recently completed wells should have a significant positive effect on our fourth quarter 2010 production volumes and our year-end proved reserves. In addition, our production volumes and proved reserves should be further enhanced by our two additional wells that are currently fracing, one of which is located in our Ross project area proximate to our record Bakken wells."
Bud Brigham concluded, "Our land department continues to actively acquire quality acreage in and adjacent to our core areas at attractive costs. We closed on an additional large acreage acquisition in Rough Rider representing approximately 6,000 net acres, all of which is core, and a significant portion of which is held by production. We believe that our track record of 36 consecutive strong producers provides us with a competitive advantage while leasing and we hope to continue to capitalize on that advantage."
About Brigham Exploration
Brigham Exploration Company is an independent exploration, development and production company that utilizes advanced exploration, drilling and completion technologies to systematically explore for, develop and produce domestic onshore oil and natural gas reserves. For more information about Brigham Exploration, please visit our website at www.bexp3d.com or contact Investor Relations at 512-427-3444.
Forward-Looking Statement Disclosure
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements within the meaning of the federal securities laws. Important factors that could cause our actual results to differ materially from those contained in the forward-looking statements early initial production rates which decline steeply over the early life of wells, particularly our Williston basin horizontal wells for which we estimate the average monthly production rates may decline by approximately 70% in the first twelve months of production, our growth strategies, our ability to successfully and economically explore for and develop oil and gas resources, anticipated trends in our business‚ our liquidity and ability to finance our exploration and development activities‚ market conditions in the oil and gas industry‚ our ability to make and integrate acquisitions, the impact of governmental regulation and other risks more fully described in the company's filings with the Securities and Exchange Commission. Forward-looking statements are typically identified by use of terms such as "may," "will," "expect," "anticipate," "estimate" and similar words, although some forward-looking statements may be expressed differently. All forward-looking statements contained in this release, including any forecasts and estimates, are based on management's outlook only as of the date of this release, and we undertake no obligation to update or revise these forward-looking statements, whether as a result of subsequent developments or otherwise.

Contact:
Rob Roosa
Finance Manager
(512) 427-3300

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Oil and Gas Stocks; Connacher (TSX:CLL) Announces $22 Million Flow-Through Share Offering

CALGARY, ALBERTA--(http://www.investorideas.com/ energy stocks blog )  Oct. 4, 2010) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Connacher Oil and Gas Limited (TSX:CLL) ("Connacher" or the "Corporation") announces today that it has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets under which Connacher will issue 15,200,000 flow-through common shares ("Flow-Through Shares") on a "bought deal" basis for gross proceeds of approximately $22 million ($1.45 per Flow-Through Share). Connacher has granted the underwriters an over-allotment option to purchase up to an additional 2,280,000 Flow-Through Shares on the same terms and conditions, exercisable in whole or in part up to 30 days following closing of the offering, for aggregate gross proceeds of approximately $25 million. The offering is scheduled to close on or about October 22, 2010.
Connacher will use the gross proceeds from the sale of the Flow-Through Shares to pay exploration expenses on the Corporation's properties which qualify as Canadian Exploration Expenses (as such term is defined in the Income Tax Act (Canada)). It is anticipated that the net proceeds will primarily be used to further delineate and define Connacher's oil sands properties through the drilling of additional core holes and for conducting a three-dimensional (3-D) seismic program over Connacher's oil sands properties. Connacher remains positive about, and committed to, the exploration of its oil sands acreage to enhance its reserve and resource base which is anticipated to support future bitumen production growth.
A preliminary short-form prospectus will be filed with securities regulatory authorities in all provinces of Canada except Quebec. The offering is subject to the approval of such securities regulatory authorities, in addition to approval by the Toronto Stock Exchange.
This press release is not an offer to sell securities or the solicitation of an offer to buy securities in any jurisdiction. Securities may not be offered or sold in the United States absent registration or an applicable exemption from registration. 
Connacher Oil and Gas Limited is a Calgary-based crude oil, bitumen, natural gas and natural gas liquids production company. Principal oil sands assets are held in the Great Divide region of Alberta. Conventional production is held in Alberta and Saskatchewan and Connacher also owns and operates a heavy oil refinery in Great Falls, Montana.
Forward Looking Information
This press release contains certain "forward-looking information" within the meaning of applicable securities law including statements regarding the proposed use of proceeds of the offering and future enhancements to the Corporation's reserve and resource base with the anticipated results thereof. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the inherent risks involved in the exploration and development of oil sands properties, the possibility that Connacher may not be able to obtain the necessary approvals to proceed with the offering, difficulties or delays in start-up operations, the uncertainties involved in interpreting drilling results and other geological data, fluctuating oil prices, the possibility of unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors including unforeseen delays. As an oil sands enterprise in the development stage, Connacher faces risks including those associated with exploration, development, start-up, approvals and the ability to access sufficient capital from external sources. For a description of the risks and uncertainties facing Connacher and its business and affairs, readers should refer to Connacher's Annual Information Form for the year ended December 31, 2009. Connacher undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking statements.

For more information, please contact
Connacher Oil and Gas Limited
Richard A. Gusella, Chief Executive Officer
(403) 538-6201
or
Connacher Oil and Gas Limited
Peter D. Sametz, President and Chief Operating Officer
(403) 538-6201
or
Connacher Oil and Gas Limited
Grant D. Ukrainetz, Vice President, Corporate Development
(403) 538-6201
(403) 538-6225 (FAX)
inquiries@connacheroil.com
www.connacheroil.com

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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)


Note to Editors: The Following Is an Investment Opinion Being Issued by OTC VOLUME LEADERS
Category: Investment, Financial

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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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OTC/Market Commentary:
Sectors include Oil and Gas Stocks
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)
Dow 10,849.55 +187.13 +1.76%
Nasdaq 2,374.16 +47.08 +2.02%
S&P 500 1,147.15 +22.32 +1.98%
10 Yr Bond(%) 2.6010% +0.4600
Oil 76.36 +1.18 +1.57%
Gold 1,294.20 -0.10 -0.01%


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