Methanex Corporation and Chesapeake Energy Corporation Sign Long-Term Natural Gas Supply Agreement for Louisiana Methanol Project

Methanex Corporation (MX.TO)(MEOH)(SANTIAGO:Methanex) and Chesapeake Energy Corporation (CHK) today announced the execution of a 10-year agreement to supply all of the natural gas required for Methanex''s one million tonne per year methanol plant in Geismar, Louisiana. Commencement of natural gas deliveries will coincide with the startup of the plant, which is expected by the end of 2014.

John Floren, President and CEO of Methanex commented, "We are thrilled to have entered into this agreement with Chesapeake, the second largest natural gas producer in the U.S. This contract will enhance our ability to reliably supply quality product to our U.S. customers for at least the next 10 years.

TAG Oil Begins 2013 with a 13-Well Taranaki Basin Drilling Campaign

TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF), is pleased to announce the Company's anticipated 2013 Taranaki Basin drilling program within the Cheal and Sidewinder fields, and within TAG's newly awarded acreage. This drilling campaign is expected to consist of a minimum 13 wells, and will continue to target the Mt. Messenger/Urenui Formation targets, as well as deeper high-impact targets in the Kapuni Formation.

TAG's CEO, Garth Johnson, stated "Building on our string of success in 2011 and 2012 and driving revenue as a result, we expect calendar 2013 to be another exciting and transformational year for TAG. With a record number of wells to drill in Taranaki as well as plans for the upcoming drilling in the East Coast Basin, I'm confident our plans will continue to become our reality."

Passport Energy Ltd. Announces Hardy SE Saskatchewan Well Results, Increased Reserves, and Operations Update

Passport Energy Ltd. (PPO - TSX Venture), is pleased to provide an operations update on its drilling, completion and production results in the Hardy area of SE Saskatchewan.  

OPERATIONS UPDATE - Hardy North Area (SE Saskatchewan)

The Company's first development well in the Hardy Bakken pool, HARDY S HZ 1A4-16-4B4-09-004-21W2 ("4-16") has produced over 33,000 gross barrels of oil (bbls) from September 2011 to the end of December, 2012.  The well continues to produce above Company expectations, averaging approximately 50 bopd gross and 12.5 bopd net (38.5 degree API oil) with an average oil cut of approximately 28% for the month December, 2012.

Lundin Petroleum Awarded Seven Licences in Norwegian Licensing Round

Lundin Petroleum AB ("Lundin Petroleum") (TSX:LUP)(OMX:LUPE) is pleased to announce that its wholly owned subsidiary Lundin Norway AS has been awarded seven exploration licence interests in the 2012 Norwegian Licensing Round (Awards in Predefined Areas, APA). The awarded licences include four licences in the North Sea, two in the Norwegian Sea as well as one licence in Barents Sea. Two of the awarded licences will be operated by Lundin Petroleum.

The licence interests are detailed below.