Lion Energy Corp. is a Canadian exploration company focused on the acquisition, exploration and development of oil and gas reserves in Central and East Africa. The company today made a joint announcement with Southern Star Energy Inc. (SSEY.OB), a U.S.- based oil and gas exploration company, and Gold Star Resources Corp. (TSX-V: GXX), a Canadian resource exploration company focused on the strategic acquisition and advancement of prospective oil and gas projects in West Africa, stating that the three companies have signed a non-binding letter of intent to create a mid-sized, “well-capitalized” company with domestic and international exploration operations.

The proposed combination of the three companies will result in one company backed by an experienced management team and board of directors, which will ultimately benefit shareholders as the company takes advantage of growth opportunities.

“The collaboration of Lion, Southern and Gold Star combines an excellent portfolio of diverse African exploratory opportunities

...

Quicksilver Resources Inc. (KWK) recently announced that its bank group has confirmed a borrowing base of $1 billion for the company's senior secured revolving credit facility, based upon oil and gas reserves as of Aug 31, 2009.   The company has $500 million drawn under the credit facility and believes that the approval of $1 billion borrowing base provides enough financial flexibility for the development of its high-growth resource base. The company expects to achieve double-digit production growth in 2010 while evaluating opportunities for its Horn River project in northeast British Columbia.   Quicksilver has the option to increase the credit facility up to $1.45 billion, subject to lender consents and additional commitments. The company can extend the maturity of the credit facility, which matures February 2012, up to two additional years with consenting lenders.   The company said that JPMorgan Chase Bank, N.A. led the group of ...

Velocity Energy Inc. announced the purchase of producing natural gas wells and partially developed acreage in the Appalachian region in the Northeastern United States. Velocity Energy Inc. purchased the assets from a private company and did not disclose the purchase price.

Velocity Energy Inc. said that the sale included 13,500 net acres of oil and gas properties, which are currently producing 2 million cubic feet per day of natural gas from several shale formations. These formations include the Ravencliff, Maxton, Big Lime, Berea, Gordon and the Cleveland and Huron Shales. The company said that the purchase would give it 60 future locations on which to drill for future reserves.

Don Vandenberg, the President of Velocity Energy Inc. said, “We have been pursuing this acquisition and other Appalachian acquisitions as we believe that the long history of successful exploitation of Devonian Shale and other shale horizons found throughout the

...

Natural Resources Deputy Minister Sergei Donskoi has said that Russia would welcome foreign companies looking to explore the country's oil and gas reserves as domestic firms lack the 'strength and money' to carry out these operations themselves.  State-run electricity companies will invest $19.5 billion next year, or 13.5% less than planned after the government approved their 2010 budget, according to the Moscow Times.  EDF may take a 10% stake in Gazprom's South Stream pipeline.  Bulgaria's Economy and Energy Minister Traicho Traikov has said Sofia will demand economic incentives from Moscow to guarantee its commitment to its major Russian-backed energy projects.  ARMZ Uranium Holding is reportedly negotiating with Areva to jointly develop deposits in Namibia and other African countries, where one-fifth of the world's uranium is to be found.  The UK is currently on a non-Russian energy push with ...

Hyperdynamics Corp. is an independent oil and gas company with operations in the Republic of Guinea which is located in West Africa. The company has the sole exploration and production rights over Guinea’s offshore region, which covers about 31,000 square miles.

Today there are few regions in the world that offer the opportunity to find world-class oil and gas reserves. Some of the regions include the deep waters of the Gulf of Mexico and offshore Brazil. Another current hotbed of lucrative exploration activity is the waters offshore of western Africa. Hyperdynamics’ license is the largest offshore exploration license in West Africa

The company announced yesterday that Hyperdynamics’ CEO, Ray Leonard, and the minister of mines, energy and hydraulics for the Republic of Guinea, Mahmoud Thiam, have signed a memorandum of understanding. The memorandum of understanding is a binding agreement which reaffirms the validity of the company’s concession.

Key terms of the

...

Every country needs a few basic ingredients in order to achieve healthy, sustained economic growth.

Reliable sources of energy. A modern, efficient infrastructure, consisting of a good road and rail system, reliable power grids and high-speed digital communications networks.

And if a country wants to be considered a “global economic powerhouse,” it’s nearly impossible for it to do so without these critical building blocks.

So it’s not too surprising that China is spending unprecedented amounts of money to beef up its infrastructure.

It’s also spending huge amounts of money on long-term oil and gas contracts. And with nearly $2 trillion on hand, it’s the perfect time for China to go on an energy acquisition spree.

Right now, it’s spending like a thirsty sailor on shore leave…

You see, despite the recent pullback in the Chinese stock market, the country is still on an economic roll that will continue for the next 50 years.

...

China’s Energy Acquisition: Three Ways To Invest In China

by David Fessler, Advisory Panelist

Every country needs a few basic ingredients in order to achieve healthy, sustained economic growth.

Reliable sources of energy. A modern, efficient infrastructure, consisting of a good road and rail system, reliable power grids and high-speed digital communications networks.

And if a country wants to be considered a “global economic powerhouse,” it’s nearly impossible for it to do so without these critical building blocks.

So it’s not too surprising that China is spending unprecedented amounts of money to beef up its infrastructure.

It’s also spending huge amounts of money on long-term oil and gas contracts. And with nearly $2 trillion on hand, it’s the perfect time for China to go on an energy acquisition spree.

Right now, it’s spending like a thirsty sailor on shore leave…

You see, despite the recent

...

Chen Weidong, a Chinese oil services executive, has published a review of Michael Economides's book about Yukos and the Russian oil industry on Energy Tribune.  The excerpt below is not about Russia, but it was the most shocking part of Weidong's article.  Both Russia and China have avoided reforms to their state-owned energy sectors, posing some similar problems.

The revenue of ExxonMobil is more than the ones for CNPC, Sinopec and CNOOC, combined but the number of employees of those companies, combined, is 30 times more than ExxonMobil's. Oil price has become internationalized; the price of oil products in China is higher than in U.S., indicating low efficiency and perhaps lack of competition. We all hope to improve the efficiency, but we are still not clear how this can be done.

China's reliance on foreign oil is more than 50 percent and is increasing. However, our petroleum

...

Avalon Oil & Gas Inc. is an independent domestic oil and natural gas producer. The company’s strategy is to use efficient reservoir maintenance and innovative technology to generate stable cash flows and production from a portfolio of oil and gas leases. Avalon currently has leases in Texas, Louisiana, Oklahoma and Arkansas.

Avalon Oil & Gas is led by a strong leadership team which consists of two officers and two directors.

Kent Rodriguez, CEO – Mr. Rodriguez joined the company as president and CEO in January 1997. Since 1995, he has been the managing partner of Weyer Capital Partners, a Minneapolis-based venture capital company. From 1985 to 1995, Mr. Rodriguez was employed in various capacities by the First National Bank of Elmore, Minnesota.

Jill Allison, Vice-President – Ms. Allison brings over 20 years of diversified management experience in business development and technology commercialization. She

...

Patriot Energy Corp.

(Public, OTC:PGYC)

About: Patriot Energy Corp., formerly Tatham Offshore Inc., has provided offshore contract drilling services to the oil and gas industry in the Gulf and Atlantic Canada. The Company had been engaged in the development, exploration and production of oil and gas reserves located primarily in the Gulf focusing principally on the flextrend and deepwater areas. The Company has refocused its business from the oil and gas exploration and production business in the Gulf to an integrated frontier investment strategy targeting Atlantic Canada.

Previous News: I have profiled this company’s buyout on April/6/09

Previous Deals: Patriot Energy Signs Multi-Year Distribution Agreement with Marmara Motorlu, a Deal Valued at $212 Million. Patriot Energy Concludes $255 Million Agreement With Toshent Overseas.

Current News: Patriot Energy Corporation (PGYC) announced that it has received a revised and final

...