Oilexco Awarded Multiple New Licenses in UK North Sea

Oilexco Incorporated ("Oilexco" or "the Company") (TSX:OIL)(LSE:OIL) is pleased to announce that it has been awarded 8 new licenses in the 25th UK Offshore Licensing Round by the Department of Energy and Climate Change. Five of the blocks were awarded to Oilexco 100%, and for the remaining three blocks the Company was awarded 50% interests.

Arthur Millholland, President and CEO commented, "This particular licensing round was considered by many in the industry to have the most desirable properties available in the last number of years. We are extremely pleased that we were able to obtain so many of the Licences we bid on, and our reputation as being the most active driller in the UK since 2004 no doubt assisted our efforts."

Wenzel Downhole Tools Ltd. Announces Third Quarter Results for 2008

Wenzel Downhole Tools Ltd. (TSX:WZL) (the "Company") announces financial results for the third quarter ended September 30, 2008.

2008 Third Quarter Results and Highlights of Operations

Record third quarter revenues of $17.2 million were achieved by the Company, which is a 53% increase over the same period in 2007. Revenues increased in all segments of the Company's operations; Canada, U.S. and international. Gross profit for Q3 was $8.3 million for a gross margin of 48%. Earnings before taxes were $5.6 million compared to a loss of $18 thousand for Q3, 2007 and the net earnings per share for the third quarter of 2008 were $0.12 compared to $0.00 in 2007. Earnings before interest, taxes, depreciation and amortization, (EBITDA), was $7.5 million, compared to $2.1 million in Q3, 2007.

SISM Research Upgrades Kodiak Energy To 'Strong Speculative Buy/4,' $3.45 Target Price

(Investrend Research Syndicate) Ernest C. Schlotter, a senior analyst with SISM Research and "four star" analyst according to StarMine, has given Kodiak Energy, Inc. (OTCBB: KDKN) (TSX Venture: KDK) (CDNX: KDK.V) a "Strong Speculative Buy/4" rating, and a 12 to 18 month target price of $3.45 based on 1.00x P/ANW valuation metric.

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Portrush Announces Three Additional Wells in Texas

Portrush Petroleum Corporation (TSX-V:PSH, OTCBB:PRRPF) -Portrush wishes to announce that the operator is planning to drill three additional wells in the Mission River Texas Field. The last 4 wells drilled were all successful and new pay zones were found that have not been previously produced in the Field. Each new well is located to develop the newly discovered Lower Frio formations but will also be positioned to develop the proven Upper Vicksburg (8,000' to 8,500')

The current daily production from the field is 4,245 Mcfd and 140 barrels of oil. The cumulative production from the twelve (12) successful wells is 1.824 BCF of Gas and 50,040 barrels of oil since 2004.