Oil and gas exploration company Pacific Asia Petroleum Inc. (PFAB.OB) today announced it has inked an amended agreement with Well Lead Group Ltd., in which Pacific Asia will acquire a 51 percent stake in several Well Lead-related onshore oil production companies in the People’s Republic of China.

The agreement correlates with Pacific Asia’s intentions on developing a wide range of energy operations, including alternative energies, in China. In September of 2008, Pacific Asia entered into an agreement with Well Lead regarding the sale and purchase of up to 39 percent of Well Lead’s interests in Northeast Oil Development Company Ltd.

Since that time, Pacific Asia and Well Lead have altered the arrangement to expand the potential acquisitions to include more Well Lead interests in additional oilfields in China, bringing the aggregate acquisition to a 51 percent interest.

Frank C. Ingriselli, president and CEO of Pacific Asia, said his company looks

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Kenya Growth Stalls Quickly; Caterpillar Cuts Pay and Jobs; Wal-Mart Offers $2.66 Billion for Chile’s Biggest Grocer; Walgreen Falls Short, Cuts Opening Plans; Palm Gets $100 Million Injection; JPMorgan Buys UBS Assets; Oil Falls 6%

Kenya’s economy grew 2.1% in the third quarter, down significantly from the 6.3% gross domestic product growth it posted a year earlier. On top of the global financial crisis, Kenya suffered from post-election violence and a severe drought, Bloomberg reported. Caterpillar Inc. (CAT) said it will offer buyouts to some employees and cut white-collar pay by up to 50%. Last week, the heavy equipment maker announced plans to lay off 814 works at its engine assembly plant, Reuters reported. Wal-Mart ...

Proof that Americans are driving less came on Wednesday in the form of an unexpected rise in U.S. oil and gas supplies. The surplus, as well as anxieties over the status of the $700B bailout package, led to the price of oil falling below $98 per barrel. The price of light sweet crude for November delivery fell as low as $95.95 in morning trading. In addition to a battered economy forcing people to drive less, supplies have been boosted by the normalizing of Gulf Coast energy operations after shutdowns caused by a crippling hurricane season. Many experts believe that demand will remain relatively weak for the time being.

Let us hear your thoughts below:

Proof that Americans are driving less came on Wednesday in the form of an unexpected rise in U.S. oil and gas supplies. The surplus, as well as anxieties over the status of the $700B bailout package, led to the price of oil falling below $98 per barrel. The price of light sweet crude for November delivery fell as low as $95.95 in morning trading. In addition to a battered economy forcing people to drive less, supplies have been boosted by the normalizing of Gulf Coast energy operations after shutdowns caused by a crippling hurricane season. Many experts believe that demand will remain relatively weak for the time being.

Let us hear your thoughts below:

Proof that Americans are driving less came on Wednesday in the form of an unexpected rise in U.S. oil and gas supplies. The surplus, as well as anxieties over the status of the $700B bailout package, led to the price of oil falling below $98 per barrel. The price of light sweet crude for November delivery fell as low as $95.95 in morning trading. In addition to a battered economy forcing people to drive less, supplies have been boosted by the normalizing of Gulf Coast energy operations after shutdowns caused by a crippling hurricane season. Many experts believe that demand will remain relatively weak for the time being.

Let us hear your thoughts below:

Finding a nugget in the rough when it comes to energy companies is no small feat. The companies are either too small to be considered hugely profitable for some time to come or they have gotten too big to find substantial value/profit potential. Every once in a while, however, a company can be found with assets and potential that has yet to be tapped on a value scale. Finding a company such as this is not an easy task, but a profitable one if found.

Holloman Energy Group Inc., a multi-segment energy company, works to explore, develop and build energy resource properties primarily in Australia. The company is headquartered in Houston, Texas.

Although many might consider the company as an oil and gas concern, it has a wide spectrum of energy operations in Australia. Its oil and gas property lease holdings total well over 1.2 million acres while its mineral leases

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