Seven Generations Production Surpasses 100,000 Boe/d in April; Record Quarterly Production of 88,525 Boe/d in Q1

First Quarter Funds from Operations $111 Million

CALGARY, ALBERTA--(May 4, 2016) - Seven Generations Energy Ltd. (VII.TO) delivered record production of 88,525 barrels of oil equivalent per day (boe/d) in the first quarter of 2016, up 82 per cent from the same period one year earlier. With the new Cutbank processing plant on-stream, April production averaged more than 105,000 boe/d, putting 7G on track to achieve 2016 production guidance of 100,000 to 110,000 boe/d.

First quarter funds from operations were about $111 million, up 27 percent compared to the same period in 2015, despite benchmark commodity prices that were about 30 percent lower. First quarter capital investment was $267 million, 27 percent lower than during the first quarter of 2015. 7G's 2016 capital investment program is weighted towards the early part of the year and is in line with the planned investment range of $900 million to $950 million.

Published: 04 May 2016

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TSX Up on News

Granite Oil Corp. Provides Operational Update

CALGARY, ALBERTA--( Apr 28, 2016) - GRANITE OIL CORP. ("Granite" or the "Company") (GXO.TO)(GXOCF) is pleased to provide an operational update including advancement of its Gas Injection Enhanced Oil Recovery (EOR) Scheme and improving capital efficiencies.

Granite has achieved a 100% voidage replacement ratio (VRR) in the core of its 100%-owned Alberta Bakken oil pool ahead of schedule, reaching a significant milestone in the long-term development of the Company's gas injection EOR scheme. Granite currently has regulatory approval for the EOR scheme over a 23 section area which contains an internally estimated 200 million barrels of original oil in place (OOIP).

After recognizing favourable reservoir characteristics, Granite initiated a gas injection EOR pilot scheme on its Alberta Bakken oil pool in early 2012, only one year after discovery of the pool. Since then, the Company has continued to expand and evaluate the performance of the scheme and has conducted internal and third party reservoir simulation studies that continue to demonstrate its efficiency and benefits. Since receiving regulatory approval to consolidate the scheme over 23 sections of land in the fourth quarter of 2015, the primary operational goal of the Company has been to achieve 100% voidage replacement in the oil pool through gas injection under the EOR scheme.

Published: 28 April 2016

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TSX Up on News Project Update

Xtreme Announces Sale of XSR Coiled Tubing Services Segment to Schlumberger for C$205 Million and Repositions Xtreme as a Pure Tier 1 Contract Driller

CALGARY, ALBERTA -- 04/27/16 Xtreme Drilling and Coil Services Corp. ("Xtreme" or the "Company") (TSX:XDC) today announces that it and certain of its affiliated companies have entered into a definitive agreement (the "Agreement") with two affiliated companies of Schlumberger (collectively, the "Purchasers"), pursuant to which the Purchasers have agreed to acquire all of the assets, including 11 XSR coiled tubing units and associated intellectual property, of Xtreme's XSR Coiled Tubing Services Segment (the "Transaction") for total proceeds of C$205 million, subject to an inventory closing adjustment and an escrow fund of C$10,000,000 for a period of six months from the date of closing of the Transaction to cover any potential claims, in accordance with the Agreement. Xtreme's Coiled Tubing Services Segment includes well intervention services in the United States and coiled tubing drilling in Saudi Arabia. Xtreme will be retaining its XDR Drilling Segment and its fleet of XDR rigs.

Published: 27 April 2016

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Up on News TSXV

Ocean Rig UDW Inc. Announces Acquisition of Ultra Deepwater Drillship

NICOSIA, CYPRUS -- 04/25/16 -- Ocean Rig UDW Inc. (NASDAQ: ORIG) ("Ocean Rig" or the "Company"), a global provider of offshore deepwater drilling services, announced today that one of its subsidiaries has acquired the 6th generation ultra deepwater drillship Cerrado, being sold through an auction, for a purchase price of $65 million, which will be funded with available cash on hand. The drillship was built at Samsung Heavy Industries in 2011 to similar design specifications as the Company's existing 6th generation drillships built at Samsung, and will be renamed the Ocean Rig Paros upon its delivery to Ocean Rig. Another subsidiary of the Company has been acting as the manager of the drillship for its previous owners. The transaction is expected to close upon completion of the judicial auction procedure.

Published: 26 April 2016

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Nasdaq Up on News

Lucas Energy Secures $15 Million Financing To Fund Growth Initiative

HOUSTON, April 7, 2016 -- Lucas Energy, Inc. (NYSE MKT: LEI) ("Lucas" or the "Company") announced today that it has entered into a series of agreements with an institutional investor whereby it will receive $10.0 million of equity capital, subject to meeting certain conditions. The initial investment is structured as a Redeemable Convertible Subordinated Debenture which will automatically convert into common stock at an initial conversion price of $3.25 per share upon certain of the conditions described below being met. At closing, this placement will provide $500,000 of funding immediately, and the balance of $4.5 million through the exercise of a Warrant upon (i) the closing of the announced transaction with Segundo, (ii) shareholder approval to issue the common shares for NYSE MKT purposes, (iii) registration of the underlying common stock and (iv) a dollar volume trading requirement of $5 million in the previous 20 trading days. Lucas also agreed to issue an additional $5.0 million of a newly designated Series C Redeemable Convertible Preferred Stock of which $500,000 will be funded upon closing of the announced Segundo Transaction, and the balance upon achieving certain milestones. The Series C Redeemable Convertible Preferred Stock will also be convertible into common stock at an initial conversion price of $3.25 per share.

Published: 07 April 2016

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AMEX Up on News Financing

Seven Generations Energy Ltd ( VII )

Seven Generations Production Surpasses 100,000 Boe/d in April; Record Quarterly Production of 88,525 Boe/d in Q1

Granite Oil Corp ( GXO )

Granite Oil Corp. Provides Operational Update

Xtreme Drilling and Coil Services Corp ( XDC )

Xtreme Announces Sale of XSR Coiled Tubing Services Segment to Schlumberger for C$205 Million and Repositions Xtreme as a Pure Tier 1 Contract Driller

Ocean Rig UDW Inc ( ORIG )

Ocean Rig UDW Inc. Announces Acquisition of Ultra Deepwater Drillship

Lucas Energy Inc ( LEI )

Lucas Energy Secures $15 Million Financing To Fund Growth Initiative