Oando Energy Resources signs agreements to acquire ConocoPhillips Nigerian assets for US$1.79 billion

Oando Energy Resources Inc. ("OER" or the "Company") (TSX: OER), a company focused on oil exploration and production in Nigeria and the Gulf of Guinea is pleased to announce that it has entered into an agreement with ConocoPhillips to acquire ConocoPhillips' Nigerian businesses for a total cash consideration of approximately US$1.79 billion, subject to customary adjustments (the "Proposed Acquisition"). ConocoPhillips' Nigerian businesses consist of:

a)     The Onshore Business

  • Phillips Oil Company Nigeria Limited ("POCNL"), which holds a 20% non-operating interest in Oil Mining Leases ("OMLs") 60, 61, 62, and 63 as well as related infrastructure and facilities in the Nigerian Agip Oil Company Limited ("NAOC") Joint Venture ("NAOC JV").  The other partners are the Nigerian National Petroleum Corporation ("NNPC") with a 60% interest and NAOC (20% and operator); and
    Published: 21 December 2012
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Pace Oil & Gas, AvenEx Energy and Charger Energy to Combine and Form Intermediate Dividend Paying Corporation

Conversion of natural gas volumes to barrels of oil equivalent (boe) are at 6:1.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Pace Oil & Gas Ltd. ("Pace") (TSX:PCE), AvenEx Energy Corp. ("AvenEx") (TSX:AVF) and Charger Energy Corp. ("Charger") (TSX VENTURE:CHX) announce that they have entered into an agreement (the "Arrangement Agreement") providing for the combination of Pace, AvenEx and Charger to form a dividend paying corporation to be named "Spyglass Resources Corp." ("Spyglass"). Spyglass will have a balanced commodity profile and sustainable business model underpinned by 18,000 boe/d of stable, low decline oil and gas production and will be led by an experienced management team.

Published: 20 December 2012
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Madalena International Operations Update: Cases CAN-8 for Completion / Testing and Moving Rig to CAS X-5 Location to Drill Ahead

Madalena Ventures Inc. and its wholly owned subsidiary Madalena Austral SA ("Madalena" or the "Company"), is pleased to provide an update on its drilling operations in the Neuquén basin, Argentina.

On the Coiron Amargo Block (35% working interest), the CAN-8 development well located 800 meters south east of the existing CAN 7 oil producer on the northern portion of the block (i.e. Coiron Amargo Norte), has been cased to a total depth ("TD") of 10,433 feet.  Following the successful drilling of the CAN-8 location and a review of the well data gathered (including electric logs), oil and gas has been encountered in both the unconventional Vaca Muerta shale and the conventional Sierras Blancas zones of interest.

Published: 18 December 2012
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Heritage Oil Announces Acquisition of Common Shares of PetroFrontier Corp.
 

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Heritage Oil Plc (HOC.TO)(HOIL.L), an independent upstream exploration and production company, today announces that the Company acquired 1,800,000 common shares ("Shares") of PetroFrontier Corp. ("PetroFrontier") representing 2.27% of the outstanding Shares. Together with Shares already held by Heritage, the Company now holds 13,960,467 Shares, representing approximately 17.58% of the outstanding Shares of PetroFrontier. Heritage also holds 2,311,767 warrants of PetroFrontier ("Warrants") which are convertible into 2,311,767 Shares upon due exercise thereof. If these Warrants were duly exercised, Heritage would hold approximately 19.91% of the outstanding Shares of PetroFrontier.

Published: 06 December 2012
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Border Announces Drilling of First Long-Leg Horizontal Well at Red Earth and Filing of Quarterly Financials

Border Petroleum Corp. (TSX VENTURE:BOR) ("Border" or the "Corporation") is pleased to announce the successful drilling of its first long-leg Slave Point horizontal well located at 10-15-85-10W5M (the "10-15 Well") on the Loon River Cree Nation under federal permit (the "Loon Block") in the Red Earth area of northern Alberta and the commencement of completion operations.

The 10-15 Well was drilled to a total depth of 3,250 meters, including a 1,630 meter horizontal leg. The logs indicate 952 meters of horizontal wellbore with 3%-9% porosity and 454 meters with over 9% porosity including 256 meters that exhibited significant dolomitization with 20-33% porosity.

Published: 30 November 2012
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