Canadian Quantum Energy Corporation Announces Resolution of Outstanding Litigation & Commencement of Drilling Operations on Nicholet Permit, Utica Shale Play, Quebec

Canadian Quantum Energy Corporation ("Canadian Quantum" / "the Company") (TSX VENTURE:CQM) is pleased to announce that a judgment has been rendered by the Quebec Superior Court thereby resolving the outstanding litigation pertaining to the 22,000 hectare Nicholet Permit # 2002RS056 ("the Nicholet Permit") located in the St Lawrence Lowlands, Quebec.

Under the terms of the Junex Settlement Agreement, Junex Inc., ("Junex") a Quebec based oil and gas operator, is now in the process of transferring the Nicholet Permit to Fairlady Energy Inc. ("Fairlady").

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Bankers Petroleum files NI 51-101 Reserves disclosure

Proved and Probable 10% NPV exceeds $1 Billion

Bankers Petroleum Ltd. ("Bankers" or the "Company") (TSX: BNK, AIM: BNK) is pleased to announce that it has filed its 2008 Reserves disclosure information with the applicable securities regulatory authorities. The NI 51-101 disclosure documents consist of the F1 - Statement of Reserves Data and Other Oil and Gas Information, the F2 - Report of Independent Qualified Reserves Evaluator and the F3 - Report of Management and Directors on Oil and Gas Disclosure.

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Vast Exploration Inc.-Highlights Significance of Miran West-1 Well in Kurdistan Region of Iraq

Vast Exploration Inc. ("Vast" or the "Company") (TSX VENTURE: VST) is pleased to acknowledge the press release issued recently by Heritage Oil Corporation ("Heritage") that the Miran West-1 exploration well in the Kurdistan Region of Iraq reached its targeted depth and encountered oil shows over an 1,100 metre interval including the three principal proven reservoir formations in the region. Heritage announced that good quality light, sweet oil was recovered to surface indicating the presence of hydrocarbons in the three main producing zones: the Shiranish, the Kometan and the Quamchuqua reservoirs.

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Heritage Oil to Test Miran West-1 Well in the Kurdistan Region of Iraq

Heritage Oil Limited (TSX: HOC)(LSE: HOIL.L), an independent upstream exploration and production company, announces that it has reached target depth on the Miran West-1 exploration well in the Kurdistan Region of Iraq and it is preparing to test the well.

Highlights
- Miran West-1 reached a total depth of 2,935 metres
- The well encountered oil shows over a 1,100 metre interval
- Excellent oil shows were seen over the three principal proven reservoir formations in the region

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Ivanhoe Energy successfully commissions its new Feedstock Test Facility for heavy-oil upgrading

<< Engineering underway for full-scale HTL commercial plants for Ivanhoe projects in Canada and Ecuador >>

Dr. Michael A. Silverman, Executive Vice President, Technology, of Ivanhoe Energy Inc. (TSX: IE; NASDAQ: IVAN), today announced the successful commissioning of the new Feedstock Test Facility (FTF) for the company's proprietary technology for field upgrading of heavy oil to light oil (HTL).

The state-of-the-art HTL testing facility will be used by Ivanhoe Energy in coming years to support detailed engineering and design of commercial-scale HTL plants for Ivanhoe Energy's Tamarack Project in Alberta, Canada, and Pungarayacu Project in Ecuador, and to test crudes associated with additional potential HTL projects.

Read more: Ivanhoe Energy Inc ( IE / IVAN )