Ithaca Energy Inc. (CVE:IAE) and its wholly owned subsidiary Ithaca Energy (UK) Limited, an independent oil & gas company with exploration, development and production assets in the UK sector of the North Sea, is pleased to announce it has received Field Development Plan approval from the UK Department for Energy and Climate Change for the Athena oil field.
Prior to the Gulf of Mexico oil leak in April, U.S. regulators approved about a dozen permits a month to drill in the shallow waters off the Gulf. Following the spill, a considerably more cautious approach has barely allowed one a month, despite the six-month moratorium only affecting wells in much deeper waters.
Topaz Resources, Inc. (OTC: TOPZ) announced that it plans to add oil properties in the north and west Texas regions as part of its strategy to develop a balanced portfolio of oil and gas properties and to take advantage of the continuing high price of oil.
Tethys Petroleum Limited (TSE:TPL) announced that it had signed a gas sales contract which will move the Company into a position of positive operating cash flow.
Primary Petroleum Corporation (CVE:PIE) reports increasing its land holdings to its Western Montana Alberta Basin Bakken Fairway. Primary’s ongoing geological review of its proprietary 26 sq. miles of 3D seismic that was shot in 2008 over its lands in Western Montana, along with the data that continues to be collected from the 18 existing wells [...]
Strategic Oil & Gas Ltd. (TSX VENTURE:SOG) announced that it has entered into a financing agreement with a syndicate of underwriters, led by Macquarie Capital Markets Canada Ltd., and including CIBC World Markets, Clarus Securities Inc., PI Financial Corp. and Raymond James Ltd., to issue and sell on a “bought-deal” basis, 16,700,000 common shares of Strategic at a price of $0.90 per Common Share and 4,550,000 Common Shares to be issued on a flow-through basis at a price of $1.10 per Flow-Through Common Share, for expected gross proceeds of $20,035,000.
Palliser Oil & Gas Corporation (CVE:PXL) provided a mid-quarter operational update. Palliser has drilled and reactivated 10 wells year to date in 2010 with 8 wells equipped for production and 1 well currently being equipped for production.
Arsenal Energy Inc. (TSE:AEI) has completed drilling of the Three Forks formation in the Jerol well (12.5% WI) at Lindahl, North Dakota.
Allied Energy, Inc. (PINK: AGGI) announced that the Company is making preparations to begin drilling its second horizontal well in the historic Giddings Field of Grimes County, Texas.
NAL Oil & Gas Trust (TSE:NAE.UN) provided an operations update on its Cardium and Mississippian light oil projects in central Alberta and southeast Saskatchewan.
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