Poly-Pacific International Inc. is a company engaged in eco-friendly solutions for soil remediation. The company today announced a joint venture with CREEnergy Oil and Gas Inc., in which both companies will emerge with equal ownership of newly formed Poly Cree Remediation (PCR), a company created for soil remediation on abandoned oil and gas wells.

“The reclamation and restoration of abandoned oil and gas drill sites is an excellent addition to the company’s mission of being an innovator of eco-friendly solutions to industrial waste by-products,” Randy Hayward, president of Poly-Pacific stated in the press release. “We look forward to a close working relationship with CREEnergy and view this as a substantial opportunity to create value for our respective shareholders.”

Per the joint-venture agreement, CREEnergy will acquire the remediation contracts and Poly-Pacific will coordinate with qualified sub-contractors to provide necessary expertise to PCR to complete the restoration project.

PCR will perform site restoration

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Texas-based BJ Services Company (BJS) on Monday unveiled the world’s largest high-performance stimulation vessel (Blue Dolphin) in deepwater Gulf of Mexico (GoM). The vessel is custom-designed to provide 20,000 psi (pound per square inch) working pressure via multiple Coflexip reeled flexible umbilical lines and is meant for oil and gas wells in the Lower Tertiary and other Gulf of Mexico formations.  The well completion in the GoM has become difficult with the exploration and development of deep formations in water depths beyond 5,000 feet. The vessel is specifically designed to meet a variety of complex completion activities.  High-pressure capabilities and large crew accommodations enable the vessel to carry on nonstop operations in multiwell locations. BJ Services provides pressure pumping and other oilfield services to oil and gas exploration and production companies all over the world.  Pressure pumping comprises cementing and stimulation services used during the ...

Savoy Energy Corporation, an independent oil and gas company based in Texas, specializes in what is called “recompletion” and “workover” activities. What this means is that the company is very good at identifying and acquiring abandoned oil and gas wells that still have a lot to give, and bringing them back into production using advanced processing technologies and careful management. Savoy is known for its ability to economically extract significant remaining product from abandoned wells.

Savoy is already producing oil from four wells, and has identified 18 other U.S. wells that are favorable candidates for turnaround. In addition, the company recently announced plans to create a joint venture in the South Pacific island of Fiji to license properties there for oil exploration and drilling.

As long term fossil fuel prices continue to rise, the demand for more production from previously producing wells is

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Last week, Egypt’s Oil Ministry said that the country has signed three oil and gas exploration agreements with U.S. energy company Apache Corporation (APA). The deals, which involve digging a total of 14 wells in three areas of Egypt’s Western Desert, are valued at $30 million. Apache would work in partnership with state-run Egyptian General Petroleum Corporation (EGPC) and Egyptian energy firm Tharwa Petroleum Company. The first of the agreements is worth $15 million and calls for Apache to drill six oil and gas wells in Western Desert’s Siwa Oasis. The second and third deals are valued at $7.5 million each and entail digging four wells in Gharb Ghazalat and another four in Saloum, both in the Western Desert. We believe that the latest initiatives, if successful, will boost Apache’s growth prospects in Egypt by adding to its existing interests in the country. Apache is the ...

Adventure Energy Inc. is an independent domestic energy company principally engaged in the acquisition, exploration and development of mature long-lived oil and natural gas properties. The company’s current operations are concentrated in the Appalachian Basin within the states of Kentucky and West Virginia.

Adventure Energy announced that it has completed the acquisition of two previously drilled wells located in the Exie Quadrangle in Green County, Kentucky. The company will hold a 100% working interest, 87.5% net revenue interest in each well. In addition, the company has acquired the 10 acre leasehold where the wells are located.

The Faulkner #1 well was drilled in 2006 to a depth of 1836 feet with production from the Knox formation. The Faulkner #2 well was drilled to a depth of 1732 feet with production targeted from the Knox formation.

Adventure Energy anticipates that Faulkner #1 will be placed into production before month’s end. The company will

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Avalon Oil & Gas, Inc., an independent oil and gas investment company, today told investors that the recent price rally in oil is encouraging for the industry as well as for Avalon’s near term acquisition plans.

“Since December, we’ve seen oil prices pass one ceiling after another, going from $33 per barrel to more than $72 per barrel,” commented Kent A. Rodriguez, Avalon’s CEO. “This translates into significant improvement in margins for producers like us,” he added. “Our shareholders benefit as well, as our oil reserve assets are valued in excess of $8,000,000 in this environment.”

He continued, “During the past six months, there has been a substantial improvement in supplier pricing for energy production companies. The prices of steel casing, rig time, site prep work, drilling costs, leasehold and related production costs have come down to a more reasonable level. Also, the

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Keeping a positive perspective in these economic times is critical. Where the rubber meets the road - as it were - is where profit is to be made. Some segments of the market have been beat down, but are not out. Keeping an eye on these markets is where the profit will show up first.

Enseco Energy Services Corporation, an oil and gas services company, works to assess older existing oil and gas wells for future production potential. Although challenged by current conditions, the company has reported solid relative results as directional drilling and the company’s fleet of service vehicles finds a new footing.

As one might suspect, the oil and gas markets have been undergoing challenges during the current economic climate. Enseco Energy Services, however, has been able to keep pace with the more popular testing of older wells and directional drilling. Although the company has been keeping pace, they have

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With the price of oil dropping below $40 a barrel for several days, the prices of the Canadian oil royalty trusts have dropped substantially. These Canadian Income Trusts, also known as Canadian Oil Income Trusts or Canadian Royalty Trusts pay a very high income. These trusts pass through all their earnings from oil and gas wells to the trust holders, similar to real estate investment trusts. There is no taxation at the corporate level since they are structured as trusts. Also, a portion of the dividends may be non-taxable due to depletion and depreciation deductions.br /You should be aware that the Canadian government came out with a plan to tax all Canadian trusts at the corporate level beginning in the year 2011. However, the average yield from Canadian trusts is still higher than the U.S. royalty trusts. WallStreetNewsNetwork.com recently came out with an updated database list of a href="http://WallStreetNewsNetwork.com"Canadian ...

A great business will always have clients and will always get paid, says Justice Litle. That’s why Key Energy Services (NYSE:KEG), the world market leader in maintenance of oil and gas wells, is in a great position. The company is growing rapidly and has a healthy balance sheet. Best of all, it is hugely undervalued at today’s price, meaning a chance for investors to triple their money.

This from Taipan Daily:

Key Energy Services (NYSE:KEG) is the largest rig-based well service company in the world.

You could say the main job for a company like Key is to “keep the oil & gas flowing.” Once a well is drilled, that well has to be maintained and serviced throughout its life. This is what Key does.

It’s a great business

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Master Limited Partnerships are a useful investment for minimizing your tax bill says Jim Nelson. They are trusts mainly comprised of natural resource, financial services, and real estate assets. Jim picks five small-cap MLPs that should provide steady income without the burden of double taxation.

This from Penny Sleuth:

In the corporate tax world, one dreaded phrase reappears when you talk about dividends: “Double Taxation”. All incorporated companies are taxed on the income they make. The shareholders are taxed again on any dividend distribution they receive from the company. So the same income is taxed twice. But, there is a way around it…

Master Limited Partnerships, or MLPs, are nearly identical to royalty income trusts. The only difference between them is double taxation.

Regular trusts must pay taxes on income before it is distributed to shareholders. Those shareholders also have to pay taxes on the already-taxed income when they receive it. MLPs, on the

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