Passport Energy Announces Spud of its First Operated Well in the Hardy Bakken Field, Saskatchewan

Passport Energy Ltd. (PPO - TSX Venture, PPO - CNSX),("Passport" or the "Company") is pleased to announce the commencement of drilling operations on its first operated Bakken horizontal well in the Hardy Bakken field of Southeast Saskatchewan, along with its partner American Eagle Energy Corporation ("American Eagle").  Passport has engaged Precision Drilling Rig 120 to drill this well.

Following drilling operations, a multi-stage fracture completion program will  be performed on the well. The well will then be placed on production and, after a period of optimization, Passport is looking forward to releasing the results as the Company's first operated production.

Published: 11 June 2012
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TSX Venture   Energy   Project Updates   Interesting News  
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ZaZa Energy Announces Agreements with Hess, Partial Prepayment of Debt and Engagement for Joint Venture Process

Agreements increase net Eagle Ford core land holdings six-fold to 72,000 acres and ZaZa to be paid $85 million

Company to pay down senior debt by $33 million and will file Forms 10-K and 10-Q shortly

Engages Jefferies & Company, Inc. as financial advisor to secure joint venture partner(s) for ZaZa’s Eagle Ford and Woodbine/Eaglebine assets

Published: 11 June 2012
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Crown Point Reports Successful Completion of Third Well as a Flowing Oil Well at El Valle in Argentina

Crown Point Ventures Ltd. (CWV.V) ("Crown Point" or the "Company") is pleased to announce that it has successfully completed EV 36 which is the third well of the 2012 drilling program in the El Valle area of Argentina as a successful flowing oil well. To date this year, the Company has drilled and completed three oil wells with the fourth well nearing completion of drilling. Since commencing drilling operations at El Valle, the Company has drilled and completed fifteen wells with a 100% drilling and completion success rate.

The completion rig will be moving later this week to re-commence completion fracturing operations on the second well EV 33.

Published: 08 June 2012
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Trilogy Energy Corp. Provides Operational Update on Montney Oil Pool

Trilogy Energy Corp. ("Trilogy" or the "Company") (TSX:TET) is pleased to announce that its previously announced facility projects at the Kaybob Montney oil pool are complete and operational as of May 26, 2012. The new 16-7-64-18W5 field battery includes separators, tanks, liquid pumps, and gas compression designed to handle approximately 12,000 Bbl/d of emulsion and approximately 18 MMcf/d of solution gas. The expansion of the central 12-10-64-19W5 Battery included the addition of a third oil treater, a second 10,000 barrel sales oil storage tank, and a new sales LACT unit. These projects are in addition to the two 8" gas and oil pipelines installed in February to connect the field batteries to the main sales battery at 12-10-64-19W5M. The new facilities and expansion projects are capable of handling over 20,000 Bbl/d of emulsion and were required to handle additional production volumes from this pool which had been curtailed pending completion of these facility expansions.

Published: 05 June 2012
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PetroMagdalena announces all-cash offer by Pacific Rubiales

PetroMagdalena Energy Corp. (TSX-V:PMD.V - News) announced today that it has entered into a definitive agreement (the "Arrangement Agreement") with Pacific Rubiales Energy Corp. (TSX:PRE; BVC: PREC; BOVESPA: PREB), pursuant to which Pacific Rubiales has offered to acquire all of the issued and outstanding common shares of PetroMagdalena (the "Shares") by way of a Plan of Arrangement under the British Columbia Business Corporations Act (the "Arrangement").

Under the Arrangement, shareholders of PetroMagdalena will receive C$1.60 in cash for each outstanding Share, representing a premium of approximately 38% on the 20 day volume weighted average price of PetroMagdalena's common shares on the TSX-V as of June 4, 2012.

Published: 05 June 2012
Written by Editor
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