Passport Energy Announces Private Placement for Bakken Drilling Program

Passport Energy Ltd. (PPO - CNSX),announces that it has arranged a non-brokered private placement for a maximum of 20,000,000 units at a price of $0.25 per unit, for total gross proceeds of up to $5,000,000. Each unit is comprised of one (1) common share and one (1) share purchase warrant. Each warrant entitles the holder to purchase one (1) additional common share of the Company for a period of eighteen months at a price of $0.35 per share. The private placement will be subject to regulatory approval. In addition, all securities will be subject to a hold period of four (4) months from the date they are issued. The private placement will be subject to a finder's fee of 8% cash fee and 8% broker warrants to registered dealers who introduce subscribers under the offering.

Read more: Passport Energy Ltd ( PPO )

Point Roberts, WA  January 6, 2011 (Investorideas.com Newswire) - InvestorIdeas.com, a leader in sector research for mining and energy stocks , reports on recent junior resource stocks news and trading for January 6th.

 

Resource stocks in this alert include American Petro-hunter Inc (OTCBB: AAPH), Gold Bullion Development Corporation ( TSX-V: GBB) , Soltera Mining Corp (PINK: SLTA), and Baffinland Iron Mines Corporation (TSX: BIM)

Resource Stocks Trading (at Time of Release):

  • Oil 88.61 -1.69 -1.87%
  • Gold 1,373.40 0.00 0.00%
Read more: Trading Alert for Junior Resource Penny Stocks; (OTCBB: AAPH), (TSX-V: GBB), (PINK: SLTA), (OTCBB:...

Vancouver, B.C.  January 6, 2011 (Investorideas.com Newswire)  Canadian listed, New Zealand oil and gas producer TAG Oil Ltd. (TSX-V: TAO) reported today that ongoing production testing of the 100%-controlled Cheal-BH-1 horizontal well in the Taranaki Basin of New Zealand continues with positive results. To date, a conservative range of low draw-down configurations has been tested, with associated production rates ranging from 400 to 500 barrels of oil equivalent (BOE) per day (predominantly oil) with no water.

 

In coming months, TAG will further test the full production capabilities of the Cheal-BH-1 well, with the goal of optimizing daily flow rates while maximizing long term reserve recovery. The continued positive results being demonstrated at Cheal further support TAG's upcoming Cheal "step-out" drilling campaign commencing this February, 2011, targeting Mt. Messenger and Urenui Formation prospects which are defined on 3-D seismic, situated within the oil discovery fairway of the lightly explored Cheal acreage.

Read more: TAG Oil (TSX-V: TAO) Announces Cheal Horizontal Well Success and Commercialization of Sidewinder...

Vancouver, B.C., January 5, 2011 (Investorideas.com energy stocks newswire)  Aroway Minerals Inc. (TSX-V:ARW; PINK:ARWJF) (www.arowayenergy.com) (the "Company") is pleased to announce that further to its news release of November 29, 2010, that it has closed its non-brokered private placement of 8,375,750 flow-through units (the "FT Units") at a price of $0.40 per FT Unit and 4,638,056 non flow-through units (the "Units") at a price of $0.36 per Unit (collectively, the "Offerings"), for aggregate gross proceeds of $5,000,000. Each FT Unit consists of one common share in the capital of the Company which will be designated as a flow through share for the purposes of the Income Tax Act (Canada) and one half share purchase warrant, each full warrant entitling the holder thereof to purchase one additional common share of the Company at a price of $0.50 per share until December 22, 2011.

Read more: Aroway Minerals Inc. (TSX-V:ARW; PINK:ARWJF) Closes $5 Million Financing

Nextraction's Noble 6-24 Well Flows Back 3 Million Cubic Feet Gas/Day

Increased Production Verifies Potential of North Pinedale Region

Nextraction Energy Corp. (TSX VENTURE: NE) ("Nextraction") is pleased to report that the completion of the Upper Lance and Tertiary zones of the Noble 6-24 well resulted in a flowed back rate of 4.853 million cubic feet of gas (MMCFG) over an 8-hour absolute open flow test, with an average rate of 3.007 MMCFG/day on an initial 24 hour test. Over a five day flow back period to recover frac fluids the well produced a total of 6.153 MMCFG, 34 barrels of condensate, and 274 barrels of water/frac fluids through a 1/2 inch choke. The well was then shut in for the installation of production tubing to assist in the recovery of production fluids. A sustained flow rate will be determined and released upon completion of frac fluid recovery and the removal of the water from the lower previously frac'd formations.

Read more: Nextraction Energy Corp ( NE )