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Tuesday, March 19, 2013

ASX Oil and Gas Stocks to Watch: (ASX: EGO), (ASX: FAR), (ASX: RFE)

ASX Oil and Gas Stocks to Watch: (ASX: EGO), (ASX: FAR), (ASX: RFE) 

FAR (ASX: FAR) Reports SENEGAL FARM OUT SPEARHEADS OFFSHORE WELL IN EARLY 2014

Point Roberts WA – March 19th, 2013 – (www.investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors reports on ASX oil and gas stocks trading and news.

Empire Oil & Gas NL (ASX EGO) traded at 0.0140, unchanged on over 4.5 Million shares.

FAR Limited (ASX: FAR) closed at 0.0410 0.00(0.00%) on over 49 Million shares. The Company announced a farm in agreement for its three blocks offshore Senegal in West Africa to Cairn Energy PLC (“Cairn”), a major UK listed oil and gas company.
Pursuant to the farm in agreement, which is subject to Senegalese Government approval, Cairn will operate and carry FAR through an exploration well expected to be drilled in early 2014.
Under the terms of the farm in agreement Cairn is to acquire a 65% working interest (WI) and
Operatorship by fully funding 100% of the costs of an exploration well and testing to an investment cap of US$80 million. As part of the farm in agreement, Cairn will pay FAR US$9.8 million for past costs incurred on the block. FAR will retain a 25% WI.
FAR’s three contiguous Senegalese blocks – Rufisque, Sangomar and Sangomar Deep – have
significant exploration potential. The blocks cover an area of approximately 7,490km2 within the
productive Mauritania‐Senegal‐Guinea‐Bissau Basin. From 2,050 km2 of modern 3D seismic data acquired in the blocks, FAR has identified a number of play types and has mapped 11 potentially drillable prospects as well as numerous other leads, many supported by associated seismic amplitude responses. In combination, the Senegal blocks have prospective resources of 3.585 billion barrels of oil (unrisked best estimate, 100% basis).
After the carried well, exploration costs will be apportioned Cairn 72.2% (WI 65%) and FAR 27.8% (WI25%). Petrosen (the Senegal National Oil Company) will continue to hold a carried 10% WI through the exploration phase in accordance with the Production Sharing Contract.
In addition, FAR and Cairn will enter into an Area of Mutual Interest agreement (AMI) to work
together to evaluate and consider applying jointly for exploration opportunities offshore Senegal.


Red Fork Energy Limited (ASX: RFE), (OTCQX: RDFEY), traded at $0.69, up 0.03 or 4.55% on over 1.2 Million shares. Red Fork Energy has a large landholding in Oklahoma with leasehold and held by production acreage covering both proven producing oil and gas fields as well as highly prospective development acreage.



Australian Stock Exchange (ASX)

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Wednesday, March 13, 2013

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Tuesday, December 4, 2012

Energy Stock News; EFL Overseas Inc. (OTCBB: EFLO) Reports Acquisition of Additional Interest at Kotaneelee and Reserves and Resources Update

HOUSTON, TEXAS - December 4, 2012 (Investorideas.com energy newswire) EFL Overseas Inc. (OTCBB:EFLO) is pleased to announce the acquisition of additional working interests in the Kotaneelee gas property and the results of independent reserves and resources evaluations (NI-51-101 compliant).

ACQUISITION
Effective October 17, 2012, EFLO acquired a 30.664% interest in the Liard basin gas field and facilities located in the Kotaneelee Area, Yukon Territory, Canada (the "Assets") from Nahanni Energy Inc. and certain of its wholly owned subsidiaries ("Nahanni"). The Nahanni purchase follows EFLO's earlier acquisition of Devon Canada's interest (generally a working interest of 22.989%, with a working interest of 69.337% in one gas well) in the Assets. Upon closing the Nahanni purchase, EFLO became the largest interest holder in the Kotaneelee with a general interest of 53.65% and a working interest of 100% in one gas well.
"Our acquisition of the additional interest at Kotaneelee provides us with a controlling position in this exciting project", stated EFLO Chairman Henry Aldorf. "Increasing our working interest to approx. 54% allows us to drive forward development plans and offers our shareholders greater potential upside."
"With the closing of the Nahanni acquisition, we are focused on actively pursuing additional interests at Kotaneelee and the surrounding area," added EFLO Chief Executive Officer Keith Macdonald. "The larger asset base will be helpful as we evaluate our future market opportunities in the Pacific Rim, North America and the Yukon."
The Assets include 30,542 acres of land, a gas dehydration plant (capacity: 70 MMcf/d), one water disposal well (capacity: 6,000 bbls/d), one well temporarily shut-in for plant maintenance and two suspended gas wells, flarestack, storage tanks, airstrip, roads, gathering systems, geological data, equipment, and other transportation and camp infrastructure.
As consideration for the Assets, EFLO paid Nahanni US$132,600 in cash (representing closing consideration of Cdn$400,000 less certain pre-closing liabilities settled by EFLO), and 1,614,767 shares of one of its subsidiaries, which are exchangeable on a one-for-one basis for shares of EFLO's common stock (valued at Cdn$4,100,000; US$4,190,610). In addition, EFLO indemnified Nahanni against its portion of the abandonment, reclamation and environmental liabilities associated with the Assets. EFLO intends to undertake an active development and exploration program, which is expected to defer these potential liabilities into the future.
EFLO continues to pursue the acquisition of additional working interests in the Assets.
RESERVES
The following reports certain pro forma reserve information, after giving effect to both the Devon and Nahanni acquisitions, based on an independent assessments by AJM Deloitte ("AJM") of dated effective June 30, 2012 using forecast prices and costs (the "EFLO AJM Reserve Reports"). AJM prepared separate reports for the Devon and Nahanni acquired working interests. The numbers presented below reflect an aggregation of the two reports. The EFLO AJM Reserve Reports were prepared in accordance with definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook") and National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). In addition reserve information required under NI 51-101 and effective for the EFLO's fiscal year ended August 31, 2012 will be included in NI 51-101 forms which will be filed in connection with EFLO's financial statements as at and for the year ended August 31, 2012. Such reserve information was filed on Sedar on November 29, 2012 and gives effect only to the Company's reserves resulting from the Devon acquisition, as the Nahanni acquisition occurred subsequent to August 31, 2012. The differences between Devon related reserves and net present values reported in the June 30 report and the August 31 report are not material.
Investorideas.com Newswire Gas prices for the report were based on delivery and sale at Station 2 in British Columbia. The EFLO AJM Reserve Reports base case forecast effective June 30, 2012 is as follows: 2012 - $2.00; 2013 - $2.95; 2014 - $3.55; 2015 - $3.95; 2016 - $4.35; 2017 - $4.80; 2018 - $5.35; 2019 - $5.80; 2020 - $6.50; and thereafter escalated at 2% per annum. Prices are in Canadian dollars per Mcf.
SUMMARY OF RESOURCES
The following reports certain pro forma resource information, based on an independent assessment by AJM dated effective June 30, 2012 using forecast prices and costs (the "EFLO AJM Resource Report"). The EFLO AJM Resource Report was prepared in accordance with definitions, standards and procedures contained in the COGE Handbook and NI 51-101.
The AJM Resource report evanuated the resources on EFLO acreage on gross terms and did not consider working interest. AJM evaluated the lands to assess the resource potential for the Middle Devonian Shales designated as Lower Black Shale (Muskwa/Evie), Middle Shale (Fort Simpson), and Upper Shale (Kotcho/Exshaw) as well as the potential for expansion of resource for the Nahanni on the producing East Flank. The results are summarized as follows, adjusted by management to reflect EFLO's 53.65% interest in the evaluated lands after giving effect to the Devon and Nahanni acquisitions.
Summary of Resources on EFL Overseas Lands (1)
Kotaneelee, Yukon Territory
Investorideas.com Newswire The following represents the total for the low, best and high cases as evaluated for the Shales.
Investorideas.com Newswire In addition, AJM has evaluated a Nahanni prospect on the West Flank.
Investorideas.com Newswire NOTICE REGARDING PRESENTATION OF THE COMPANY''S RESERVE AND CONTINGENT RESOURCE INFORMATION
The determination of reserves and resources involves the preparation of estimates that have an inherent degree of associated uncertainty. The estimation and classification of reserves and resources requires the application of professional judgment combined with geological and engineering knowledge to assess whether or not specific reserve or resource classification criteria have been satisfied. Knowledge of concepts including uncertainty and risk, probability, statistics and deterministic and probabilistic estimation methods is required to properly use and apply reserve and resource definitions.
Disclosure in this document of reserves and resources is presented in accordance with Canadian securities laws. The United States Securities and Exchange Commission (the "SEC") generally permits U.S. reporting oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves and production, net of royalties and interests of others. The Company uses certain terms in this document, such as resources or contingent resources that the SEC's rules would prohibit a U.S. company from including in filings with the SEC. The SEC generally does not permit U.S. companies to disclose net present value of future net revenue from reserves based on forecast prices and costs. Canadian securities laws permit, among other things, the presentation of certain categories of resources and the disclosure of production on a gross basis before deducting royalties. Unless noted otherwise, all disclosures of reserves and resources in this document are made on a gross basis using forecast price and cost assumptions.
In this news release:
"gross" means:
(a) in relation to the Company's interest in production or reserves, its working interest share before deduction of royalties;
(b) in relation to wells, the total number of wells in which the Company has an interest; and
(c) in relation to properties, the total area of properties in which the Company has an interest.
"net" means:
(a) in relation to the Company's interest in production or reserves, its working interest share after deduction of royalty obligations;
(b) in relation to the Company's interest in wells, the number of wells obtained by aggregating the Company's working interest in each of its gross wells; and
(c) in relation to the Company's interest in a property, the total area of properties in which the Company has an interest multiplied by the working interest owned by the Company.
All evaluations of future revenue are after the deduction of royalties, development costs, production costs and well abandonment costs but before consideration of indirect costs such as administrative, overhead and other miscellaneous expenses.
Disclosure of Reserves
The reserves estimates and related estimates of net present values presented in this document were prepared to comply with Canadian reserves disclosure standards and reserves definitions as set out in NI 51-101 and the COGE Handbook prepared jointly by The Society of Petroleum Evaluation Engineers (Calgary Chapter) and the Canadian Institute of Mining, Metallurgy & Petroleum (Petroleum Society).
Reserves are estimated remaining quantities of oil and natural gas and related substances anticipated to be recoverable from known accumulations, from a given date forward, based on:
  • analysis of drilling, geological, geophysical and engineering data;
  • the use of established technology; and
  • specified economic conditions, which are generally accepted as being reasonable.
Reserves are classified according to the degree of certainty associated with the estimates:
  • Proved reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves;
  • Probable reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves; and
  • Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. It is unlikely that the actual remaining quantities recovered will exceed the sum of the estimated proved plus probable plus possible reserves.
Each of the reserves categories (proved, probable and possible) may be divided into developed and undeveloped categories:
  • Developed reserves are those reserves that are expected to be recovered from existing wells and installed facilities or, if facilities have not been installed, that would involve a low expenditure (for example, when compared to the cost of drilling a well) to put the reserves on production. The developed category may be subdivided into producing and non-producing.
  • Developed producing reserves are those reserves that are expected to be recovered from completion intervals open at the time of the estimate. These reserves may be currently producing or, if shut-in, they must have previously been on production, and the date of resumption of production must be known with reasonable certainty.
  • Developed non-producing reserves are those reserves that either have not been on production, or have previously been on production, but are shut-in, and the date of resumption of production is unknown.
  • Undeveloped reserves are those reserves expected to be recovered from known accumulations where a significant expenditure (for example, when compared to the cost of drilling a well) is required to render them capable of production. They must fully meet the requirements of the reserves classification (proved, probable, possible) to which they are assigned.
In multi-well pools it may be appropriate to allocate total pool reserves between the developed and undeveloped categories or to subdivide the developed reserves for the pool between developed producing and developed non-producing. This allocation should be based on the estimator's assessment as to the reserves that will be recovered from specific wells, facilities and completion intervals in the pool and their respective development and production status.
The qualitative certainty levels referred to in the definitions above are applicable to individual reserves entities (which refers to the lowest level at which reserves calculations are performed) and to reported reserves (which refers to the highest level or the sum of individual entity estimates for which reserves estimates are presented). Reported reserves should target the following levels of certainty under a specific set of economic conditions:
  • at least a 90 percent probability that the quantities actually recovered will equal or exceed the estimated proved reserves;
  • at least a 50 percent probability that the quantities actually recovered will equal or exceed the sum of the estimated proved plus probable reserves; and
  • at least a 10 percent probability that the quantities actually recovered will equal or exceed the sum of the estimated proved plus probable plus possible reserves.
Additional clarification for the classification of reserves and the certainty levels associated with reserves estimates is provided in the COGE Handbook.
Disclosure of Resources
In this news release, the Company also refers to estimates of "contingent resources". These estimates represent the best estimate of the contingent resources attributed to the Company's interest, are not classified or recognized as reserves, and are in addition to the Company's disclosed reserve volumes.
Contingent resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingencies may include factors such as economic, legal, environmental, political, and regulatory matters, or a lack of markets. It is also appropriate to classify as contingent resources the estimated discovered recoverable quantities associated with a project in the early evaluation stage. There is no certainty that it will be commercially viable to produce any portion of the contingent resources and the estimated future net revenues do not necessarily represent the fair market value of such contingent resources.
The Company's resources classified as contingent resources, rather than as reserves, are so classified pending the need for further facility design, preparation of firm development plans and regulatory applications (including associated reservoir studies and delineation drilling) and corporate approvals to proceed with development.
When evaluating contingent resources, the following mutually exclusive categories are recommended in the COGE Handbook:
  • Low Estimate: This is considered to be a conservative estimate of the quantity that will actually be recovered. It is likely that the actual remaining quantities recovered will exceed the low estimate. If probabilistic methods are used, there should be at least 90 percent probability that the quantities actually recovered will equal or exceed the low estimate.
  • Best Estimate: This is considered to be the best estimate of the quantity that will actually be recovered. It is equally likely that the actual remaining quantities recovered will be greater or less than the best estimate. If probabilistic methods are used, there should be at least a 50 percent probability that the quantity actually recovered will equal or exceed the best estimate.
  • High Estimate: This is considered to be an optimistic estimate of the quantity that will actually be recovered. It is unlikely that the actual remaining quantities recovered will exceed the high estimate. If probabilistic methods are used, there should be at least a 10 percent probability that the quantities actually recovered will equal or exceed the high estimate.
FORWARD-LOOKING STATEMENTS
This news release includes forward-looking statements, including but not limited to estimates of reserves and resources and the present value of revenues associated with such reserves and resources. Statements in this news release relating to reserves and resources involve the implied assessment, based on certain estimates and assumptions, that the described reserves and resources, as the case may be, exist in the quantities predicted or estimated, and can be profitably produced in the future. There is no assurance that the forecast price and cost assumptions contained in the AJM reports will be realized and variances could be material. Other assumptions and qualifications relating to project schedules, costs and other matters are inherent in these estimates.
In addition, all statements other than statements of historical facts, included in this news release that address activities, events, or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements, including but not limited to the Company's intent to pursue the acquisition of additional interest in the Kotaneelee property, the Company's planned exploration activities and the existence of potential opportunities in the Pacific Rim, North America and the Yukon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects and reach commercially acceptable terms with counterparties, the ability to secure government and other third party approval, potential third party claims, the ability to fund operations, and other factors over which the Company has little or no control. The Company does not intend to update publicly any forward-looking statements, except as may be required by law. There can be no assurance that EFLO will be successful in completing the acquisition of additional interest(s) in the Kotaneelee properties or executing its planned exploration and development activities.
The contents of this news release should be considered in conjunction with the warnings and cautionary statement contained in the Company's public filings, which are accessible on SEDAR at www.sedar.com.
Definitions
In this news release: (i) Mcf means thousand cubic feet; (ii) Mcf/d means thousand cubic feet per day; (iii) MMcf means million cubic feet; (iv) MMcf/d means million cubic feet per day; (v) bbls means barrels; (vi) Mbbls means thousand barrels; (vii) MMbbls means million barrels; (viii) bbls/d means barrels per day; (ix) Bcf means billion cubic feet; (x) Mboe means thousand barrels of oil equivalent; (xi) MMboe means million barrels of oil equivalent; (xii) boe means barrels of oil equivalent; and (xiii) boe/d means barrels of oil equivalent per day.
Boe means barrel of oil equivalent on the basis of 1 boe to 6,000 cubic feet of natural gas. References to boe may be misleading, particularly if used in isolation. A boe conversion ratio of 1 boe for 6,000 cubic feet to natural gas is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
Contact:
EFL Overseas Inc.
Keith Macdonald
1 (403) 246-8443

Wednesday, November 28, 2012

Oklahoma Oil and Gas Stock Gulfport Energy (NASDAQ:GPOR) Makes NASDAQ Top Gainer List

New York, New York - November 28, 2012 (Investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors, reports on the morning top percentage gainers on the NASDAQ for November 28 th. Gulfport Energy Corp. (NasdaqGS: GPOR) made the top five percentage gainers list, trading at $36.99, up $ 5.26 or 16.58% as of 1:35PM EST on over 3.7 Million shares.
The Company reported test results yesterday on its Shugert 1-12H well in the Utica Shale and announced first sales through the MarkWest Energy Partners, L.P. (MWE) Harrison County gas processing complex.
Shugert 1-12 Results
  • Gulfport's Shugert 1-12H tested at an average sustained 18 hour rate of 28.5 million cubic feet ("MMCF") per day of natural gas, 300 barrels of condensate per day, and 2,907 barrels of natural gas liquids ("NGLs") per day assuming full ethane recovery and a natural gas shrink of 10%, or 7,482 barrels of oil equivalent ("BOE") per day.
Investorideas.com Newswire Gulfport Energy Corporation is an Oklahoma City-based independent oil and natural gas exploration and production company with its principal producing properties located along the Louisiana Gulf Coast. Gulfport has also acquired acreage positions in the Utica Shale of Eastern Ohio and the Niobrara Formation of Western Colorado. In addition, Gulfport holds a sizeable acreage position in the Alberta Oil Sands in Canada through its interest in Grizzly Oil Sands ULC and has interests in entities that operate in the Permian Basin in West Texas and in Southeast Asia, including the Phu Horm gas field in Thailand.
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BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894
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Friday, November 16, 2012

Natural Gas Stock Trading Alert; Liard Basin Stock EFL OVERSEAS (OTCBB: EFLO) Gains over 10%

New York, NY, Point Roberts, WA - November 16, 2012 (Investorideas.com energy newswire) Investorideas.com, a leader in sector research for independent investors issues a natural gas stock trading alert for Liard Basin stock EFL Overseas Inc. (OTCBB: EFLO). The stock is trading up at $2.27, gaining 0.22 or 10.73% as of 12:15PM EST.
Investorideas.com Newswire The Company recently announced its acquisition of additional rights and interests in the Liard basin gas field and facilities located in the Kotaneelee Area, Yukon Territory.

EFLO acquired a 30.664% interest in the Assets from Nahanni Energy Inc. and certain of its wholly owned subsidiaries ("Nahanni"). The Nahanni purchase follows EFLO's earlier acquisition of Devon Canada's interest (generally a working interest of 22.989%, with a working interest of 69.337% in one gas well) in the Assets. Upon closing the Nahanni purchase, EFLO became the largest interest holder in the Kotaneelee with a general interest of 53.67% and a working interest of 100% in one gas well. The Assets include 30,188 acres of land, a gas dehydration plant (capacity: 70 million cubic feet per day ("MMCFD")), one water disposal well (capacity: 6,000 barrels per day), one well temporarily shut-in for plant maintenance and two suspended gas wells, flarestack, storage tanks, airstrip, roads, gathering systems, geological data, equipment, and other transportation and camp infrastructure.
Full news: http://www.investorideas.com/news/2012/main/10241.asp
EFLO Energy (OTCBB:EFLO) is engaged in natural gas exploration and production in the Kotaneelee Gas Project, located in the Liard Basin of south-eastern Yukon.
The Kotaneelee gas field, with its important conventional and unconventional resource development opportunities, combined with a 70 MMCFD underutilized gas plant and infrastructure, provide EFLO's operations significant scale and upside.http://www.efloenergy.com/
SEC filings: http://finance.yahoo.com/q/sec?s=EFLO+SEC+Filings
Investorideas.com Newswire Seeking Alpha article : An 'Off The Radar' Way To Play The Coming West Coast LNG Boom .http://seekingalpha.com/article/951741-an-off-the-radar-way-to-play-the-coming-west-coast-lng-boom?source=yahoo
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Monday, November 12, 2012

TSX Energy Stock Alert: Petrowest (TSX: PRW) Gains on Record Third Quarter Report

New York, New York, Point Roberts, WA - November 12, 2012 (Investorideas.com Energy Stocks Newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors issues a trading alert for TSX active morning trader, Petrowest Corporation (TSX: PRW), trading at $0.62, up 0.08 or 14.81% on over 700,000 shares. The stock spiked following reporting record third quarter results.
Investorideas.com Newswire FINANCIAL HIGHLIGHTS
In the three months ended September 30, 2012, the Company:

  • Achieved record third quarter comprehensive income before tax of $6.7 million and revenue of $59.9 million, an increase of $6.9 million and $4.6 million respectively from the same quarter in 2011, driven primarily by strong activity in the Civil division.
  • Reported EBITDA margin of 21.3%.
  • Reported gross margin of $14.2 million, an increase of $1.8 million compared to the same quarter in 2011.
  • Acquired a landfill site in northeastern British Columbia to receive and manage contaminated waste. It is anticipated to be operational by the end of November, 2012.
  • Established a field office and camp facility in Fox Creek, Alberta to better service the Company's existing client base and to respond to the increased activity in the area.
In the nine months ended September 30, 2012, the Company:
  • Increased EBITDA and revenue by 32.3% and 13.1% respectively, from $21.6 million and $136.7 million to $28.6 million and $154.5 million respectively, a record for the Company for the first nine month period of a year, primarily due to strong activity in the Civil division and continued strength of other divisions.
  • Reported comprehensive income of $10.0 million compared to a comprehensive loss of $(27.8) million in the first nine months of 2011, mainly due to strong results in the Civil division, as well as the recognition of a deferred income tax recovery in the current period, versus the non-cash charge loss on the change in fair value of trust and subordinated units in the comparative period.
  • Opened a field office in Lloydminster, Alberta in order to better service the Company's existing customer base conducting heavy oil operations in the area.
ABOUT PETROWEST
Petrowest is an Alberta corporation involved in pre-drilling and post-completion energy services as well as industrial and civil infrastructure projects, gravel crushing and hauling for non-energy sector customers.  Petrowest's primary operations are based in the Grande Prairie area of northern Alberta and in northeastern British Columbia
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Wednesday, October 31, 2012

Energy Stock Trading Alert; Liard Basin Junior EFL OVERSEAS (OTCBB: EFLO) Trades up Following News of Acquisition

New York, NY, Point Roberts, WA - October 31, 2012 (Investorideas.com energy newswire) Investorideas.com, a leader in sector research for independent investors issues an energy stock trading alert for EFL Overseas Inc. (OTCBB: EFLO) following last week's news of its acquisition of additional rights and interests in the Liard basin gas field and facilities located in the Kotaneelee Area, Yukon Territory.
The stock was also featured in a recent Seeking Alpha article: An 'Off The Radar' Way To Play The Coming West Coast LNG Boom.
Investorideas.com Newswire EFLO acquired a 30.664% interest in the Assets from Nahanni Energy Inc. and certain of its wholly owned subsidiaries ("Nahanni"). The Nahanni purchase follows EFLO's earlier acquisition of Devon Canada's interest (generally a working interest of 22.989%, with a working interest of 69.337% in one gas well) in the Assets. Upon closing the Nahanni purchase, EFLO became the largest interest holder in the Kotaneelee with a general interest of 53.67% and a working interest of 100% in one gas well.
The Assets include 30,188 acres of land, a gas dehydration plant (capacity: 70 million cubic feet per day ("MMCFD")), one water disposal well (capacity: 6,000 barrels per day), one well temporarily shut-in for plant maintenance and two suspended gas wells, flarestack, storage tanks, airstrip, roads, gathering systems, geological data, equipment, and other transportation and camp infrastructure.
Full news: http://www.investorideas.com/news/ 2012/main/ 10241.asp

EFLO Energy (OTCBB:EFLO) is engaged in natural gas exploration and production in the Kotaneelee Gas Project, located in the Liard Basin of south-eastern Yukon.
The Kotaneelee gas field, with its important conventional and unconventional resource development opportunities, combined with a 70 MMCFD underutilized gas plant and infrastructure, provide EFLO's operations significant scale and upside.
SEC filings: http://finance.yahoo.com/q/sec?s=EFLO+SEC+Filings
Contact:EFLO
Keith Macdonald
  • EFLO Overseas Inc.
1 (403) 246-8443
Published at Investorideas.com energy newswire
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