Canacol Energy Ltd. and ExxonMobil Sign Agreement for Shale Oil Exploration Project in Colombia

Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE.TO - News) (BVC:CNEC) is pleased to announce that its wholly owned subsidiary, Carrao Energy Sucursal Colombia ("Carrao Colombia"), has entered into a farm-out agreement (the "FOA") with ExxonMobil Exploration Colombia Limited, a wholly-owned subsidiary of ExxonMobil Corporation ("ExxonMobil") (NYSE:XOM - News) for the exploration of the Corporation's non-operated VMM 2 exploration and production ("E&P") contract located in the Middle Magdalena basin of Colombia. The VMM 2 E&P contract is one of three adjacent contracts that Canacol has interests in, representing 126,000 net acres that expose Canacol to a potentially large, unconventional shale oil play. With $ 91 million in cash, cash equivalents, and restricted cash on hand as of December 31, 2011, and strong cash flow from its operated oil producing assets in Colombia, the Corporation remains fully funded to execute its exploration and development programs for 2012.

Published: 05 April 2012
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Lynden Wolfberry Project Production Exceeds 500 BOE/Day

Lynden Energy Corp. (TSX VENTURE:LVL) reports that the production, net to Lynden, from its 30 (12.86 net) Wolfberry Project wells was in excess of 500 barrels of oil equivalent per day, on average, in the 10 days ending March 31, 2012. The highest daily production during the period was 595 barrels of oil equivalent. Production is predominately oil, and is primarily from the Company's West Martin Project Area (Martin County) and the Wind Farms Prospect Area (Glasscock County).

Also contributing to the production is the Tubb A #1 well (0.355 net) which has produced approximately 90 barrels of oil per day, on average, in the 3 months since the well was tied in (excluding approximately 10 days for pump repair), and has produced in excess of 100 barrels of oil per day over the past 10 days.

Published: 04 April 2012
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SmartHeat, Inc. Announces Financial Results for 2011

SmartHeat, Inc. (NASDAQ: HEAT; website: www.smartheatinc.com), a market leader in China's clean technology, energy savings industry, today announced financial results for the fiscal year ended December 31, 2011.  

Mr. James Jun Wang, Chairman and Chief Executive Officer of SmartHeat, Inc., made the following comments regarding the performance of SmartHeat during the fiscal year of 2011:

"Despite a very challenging sales environment caused by a continuation of China's restrictive fiscal policy in 2011, we are encouraged by our fourth quarter results due to our efforts to expand into regional areas of China, the development of our marketing force and our restructuring efforts.

Published: 03 April 2012
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Legacy Oil + Gas Inc. provides operational update - Spearfish light oil resource play outperforming

Legacy Oil + Gas Inc. ("Legacy" or the "Company")(TSX: LEG) is pleased to provide an operational update for its activities in the Williston Basin and an interim update of its recent Turner Valley drilling success.

In the first quarter of 2012, the Company drilled 49 (35.1 net) wells all targeting light oil, with a 100 percent success rate.  This total included 13 (10.2 net) horizontal wells in its Spearfish play at Pierson and Bottineau County, North Dakota.  The Company continues to be on track to meet its full year production guidance.

Published: 02 April 2012
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MENA Hydrocarbons Announces Sustained First Oil Production from the Lagia Oil Field

MENA Hydrocarbons Inc. ("MENA" or the "Company") (TSX VENTURE:MNH.V - News) is pleased to announce the results of its Lagia 6 re-entry, the first of 2 re-entries in its six well, first phase development program on its 100% owned Lagia Development Lease in Egypt.

Commencement of first oil production

PetroSinai, the joint venture operating company operating the Lagia Development Lease in Egypt on behalf of the Egyptian Petroleum Company and MENA, has successfully started production operations in the Lagia oil field. The Lagia 6 well, drilled in 2000, has been re-entered, re-perforated in the Nukhul formation and has now been on production for one week.

Published: 30 March 2012
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