PETRONAS Extends the Outside Date under Arrangement Agreement with Progress

PETRONAS Carigali Canada Ltd ("PETRONAS Canada") and Progress Energy Resources Corp. ("Progress") (TSX:PRQ) announced today that PETRONAS Canada has exercised its right under the arrangement agreement between the parties to extend the "Outside Date" under the agreement to November 30, 2012.  The Outside Date was originally established as October 31, 2012. Under the agreement, PETRONAS Canada has the right to extend the Outside Date from October 31, 2012 for up to 90 additional days, in 30 day increments, if the required regulatory approvals have not been obtained.  After the Outside Date, either party has the right to terminate the agreement.

Africa Oil Completes Farmout With New Age and Twiga Update

  Africa Oil Corp. ("Africa Oil" or the "Company") (TSX VENTURE:AOI)(OMX:AOI) is pleased to report that it has completed the previously announced (July 23, 2012) farmout agreement with New Age (African Global Energy) Limited ("New Age") whereby New Age acquired an additional 25% interest in Africa Oil's Blocks 7 & 8 in Ethiopia, together with operatorship of Blocks 7 & 8 and the Adigala Area. In consideration of the assignment of the interest New Age paid Africa Oil $1.5 million in consideration of past costs. Following the completion of the New Age farmout transaction, the resulting interest in Blocks 7 & 8 will be as follows:

Whitecap announces increase to credit facilities and disposition of non-core assets

Whitecap Resources Inc. ("Whitecap", "we", "us", "our" or the "Company") (WCP.TO) is pleased to announce that as a result of continued operational success in each of our core areas and the related production and reserve increases, our credit facility has increased 13% to $450 million . In addition, Whitecap has entered into agreements in principle to sell non-core assets for total cash proceeds of approximately $56.4 million . The increase to our credit facility and the proceeds from the non-core asset dispositions provides us with significant financial flexibility for ongoing operations moving into 2013.

Oando Energy Resources brings Ebendo-4 well on production at 2,000 bopd