New City Energy Share Discussion Threads

[marab] 04/7/2012 12:12

energiser01 - And still no bad news and the share price seems to have bottomed out. I'm hoping this will make a difference in my ISA over the next few years. A positive one obviously. This thread would be dead without your efforts, yet this looks like a pretty under rated investment to me with a decent spread of stocks which all seem to be doing well. And a dividend.

[energiser01] 04/7/2012 10:49

Update - Nexus Energy (1.15% of NAV as of 31/3/12)

full rel @

or

Crux ACL9 Terms and Documentation Finalised

This is important for Nexus and should lead to a rerating of the share price

New joint venture: Nexus 17%, Shell 80% (operator), Osaka Gas 3%
• Joint venture goal to exploit Crux as a significant hub in East Browse
• Potential development of new FLNG facility to process Crux gas with the
opportunity to process third party gas
• Consolidation agreement enables Nexus participation in the LNG supply chain
with title to its proportionate share of LNG and liquids
• Nexus 12 month option to sell 2% of its participating interest in new joint
venture for A$75m to Shell

dyor etc..

[energiser01] 04/7/2012 09:47

Update - Peyto Exp & dev (1.38% of trust NAV as of 31/3/12)

Full rel @

Peyto Exploration & Development Corp. Enters Into Agreement to Acquire Open Range Energy Corp.
CALGARY, ALBERTA--(Marketwire - July 3, 2012) - Peyto Exploration & Development Corp. (TSX:PEY) ("Peyto") is pleased to announce that it has entered into an agreement with Open Range Energy Corp. (TSX:ONR) ("Open Range") pursuant to which Peyto will acquire all of the issued and outstanding common shares of Open Range ("Open Range Shares") on the basis of 0.0696 of a Peyto common share for each Open Range common share pursuant to a statutory plan of arrangement (the "Arrangement").

Peyto's President and CEO Darren Gee commented on the Arrangement:

"At Peyto we pride ourselves in being able to deliver great returns to our shareholders by profitably building superior energy assets. After thirteen years in business, Peyto's asset base is considered one of the best in the North American energy industry with long reserve life, low operating costs, high netbacks, high operatorship and a large inventory of high quality undeveloped reserves that will deliver strong returns for many years. Our Deep Basin expertise and the Open Range assets are a great fit. We believe the acquisition of Open Range will realize returns that are similar to what we've achieved in the past."

dyor etc..

[energiser01] 02/7/2012 15:57

Update - Neon Energy ( 2.38% of trust nav as of 31/3/12)

full rel @

also good Market Briefing @

VIETNAM FARMOUT AGREEMENT SIGNED WITH ENI
Highlights
• Vietnamese Farmout Agreement signed with global oil & gas major Eni
• Neon to be carried on two 3D seismic programmes and two exploration wells
• Neon to retain 25% working interests in Block 120 and Block 105
• 3D seismic programme commenced on 15 June 2012

Neon Energy Limited (ASX: NEN) is pleased to announce that the Company has signed a Farmout Agreement with Eni Vietnam B.V. ("Eni"), a wholly owned subsidiary of Eni SpA, in relation to Block 120 and Block 105-110/04 ("Block 105"), offshore Vietnam.
The terms of the Farmout Agreement, which remains subject to the usual regulatory approvals of Vietnam, are slightly modified from those disclosed to the ASX on 19 January 2012. The key commercial terms are now as follows:
• Neon to assign a 25% working interest in both blocks to Eni, thereby retaining a 25% working interest
• Eni to carry Neon on 800km2 of 3D seismic and one exploration well in Block 105*
• Eni to carry Neon on 250km2 of 3D seismic and one exploration well in Block 120*
• KrisEnergy to farmout a 25% interest in each block to Eni
• Eni to become Operator of the new Joint Ventures
*subject to agreed cost caps.
The partners have recently commenced a two block 3D seismic programme, and it is
anticipated that the acquisition of seismic data will take approximately six weeks to complete. The seismic campaign has been designed to identify an optimal drilling location for the Cua Lo prospect in Block 105, and to aid prospect ranking and well location for drilling in Block 120. Timing of the exploration wells in each block will be subject to completion of processing and interpretation of the new 3D seismic data, and the availability of suitable drilling rigs.
Neon's Managing Director Ken Charsinsky commented: "Eni is a world class partner. Their participation validates the quality and potential of our Vietnamese exploration assets. Vietnam is attracting significant industry interest and Neon's early mover advantage in securing two high quality, high potential exploration blocks has culminated in this partnering arrangement with Eni. For Neon shareholders the deal expands on the committed work programme by providing risk-reducing 3D seismic in addition to two exploration wells, at no
substantive net cost to Neon.
"Further, Eni represents an excellent partner in the blocks, with operational and development capabilities that will be key to early monetisation of the assets, should the exploration programme confirm management's view of the blocks' hydrocarbon potential. We welcome Eni as our new partner and look forward to a continued excellent relationship with existing partners KrisEnergy Ltd and Petrovietnam as we enter this next, exciting phase of exploration."

dyor etc..

[energiser01] 02/7/2012 15:22

Update - Directors (Some names in common here, with this and other NCIM trusts)

Don't know much about Preatorian or how well it'll be recd in this market. Best hope is it attracts some new money and then they buy more shares in the holdings of Golden Prospect, Geiger and New Energy (which share quite a few common holdings) - like Ausgold (which could do with a kick in the preverbial)

Mining investment company Praetorian Resources Ltd plans to join Aim in early July.

There are no real limits on what geographies and types of mineral that Praetorian will invest in. No more than 20% of net asset value will be invested in any single company.

Guernsey-registered Praetorian ( has appointed Charles Cannon-Brookes as its investment manager and Malcolm Burne is a non-executive director and a member of the execution and advisory team. Both men are also directors of cash shell Longships. The other member of the execution and advisory team is fund manager Richard Lockwood who is a Longships shareholder and a non-executive director of Praetorian. Burne and Lockwood have been involved together in the company that became Ambrian Capital and Golden Prospect Precious Metals. Praetorian chairman Robert King is also a director of Golden Prospect Precious Metals.

Former Kalahari Minerals boss Mark Hohnen is a non-executive of Praetorian

plus link to AIM newsletter.



dyor etc..

[energiser01] 02/7/2012 12:13

Update - Tag Oil new zealand 2.04% of NAV of trust @ 31/3/12

Full rel @

TAG Oil Reports 300% Increase in Reserves, 227% Increase in Production Revenue & Strong Year End Financial Results
VANCOUVER, June 29, 2012 /PRNewswire/ - TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), a Canadian-based production and exploration company with focused operations in New Zealand, reports the Company has filed its March 31, 2012 consolidated, audited financial statements, management discussion and analysis and annual information form with the Canadian Securities Administrators for the Company's 2012 fiscal year-end. Copies of these documents can be obtained electronically at or for additional information please visit TAG Oil's website at

Year-End March 31, 2012 Operating Highlights

Proved and probable reserves increased to 6.624 million boe compared to 1.68 million boe at March 31, 2011 (82% oil and 18% gas);
Production revenue increased to $43 million, up from $13 million for FY 2011;
Net income of $18.92 million was recorded before deducting non-cash stock-based compensation expenses, compared to $1.29 million for FY 2011;
Net operating cash inflow increased to $15.56 million for the year compared to an outflow of $1.15 million for FY 2011;
Per barrel production, storage and transportation costs were $11.26 per boe for the year compared to $17.81 for FY 2011;
TAG sold 338,569 barrels of oil during the year at an average price of $119.54 per barrel;
TAG sold 151,309 boe of gas during the year at an average price of $4.02 per mcf;
Farmout agreement signed with Apache Corp. on TAG's East Coast Basin acreage ("East Coast Basin JV");
Drilled 11 successful wells in the 2012 fiscal year, bringing the total to 15 straight successful wells in Taranaki, with an active drilling program continuing;
Graduated to Canada's senior stock exchange.


dyor etc..

[energiser01] 28/6/2012 15:08

Update - Progress Energy (Originally 2.08% in sep 2008 - Trust may or may not still hold this share, if it does it will be less than 1.5% of trust nav, as it will be one of the 7 holdings that aren't named individually lumped into the Canada holdings at 2.9% as of 31/3/12).

full rel @


PETRONAS to Acquire Progress Energy
Companies agree to $5.5 Billion Acquisition

CALGARY, June 28, 2012 /CNW/ - PETRONAS, the Malaysian national oil and gas company, and Progress Energy Resources Corp. (Progress) (TSX:PRQ) today announced that PETRONAS' Canadian subsidiary, PETRONAS Carigali Canada Ltd (PETRONAS Canada), and Progress have entered into an agreement for the purchase by PETRONAS Canada of all of Progress' outstanding common shares at a cash price of C$20.45 per share. Including the amount to be paid for Progress' outstanding convertible debentures, the transaction is valued at approximately C$5.5 billion. The transaction is to be completed by way of an arrangement under the Business Corporations Act (Alberta).

Highlights

Cash price of C$20.45 per Progress share
Transaction has received the unanimous approval of Progress' Board of Directors
PETRONAS brings substantial investments in LNG infrastructure and access to world markets through established channels
Canadian operations to remain based in Calgary for upstream with commercial office in Vancouver for LNG
The transaction price represents a premium of 77% over Progress' closing share price on the Toronto Stock Exchange of C$11.55 on June 27, 2012, and 83% over Progress' 30-trading day volume weighted average trading price of C$11.18 per share ending on June 27, 2012.

The acquisition of Progress is consistent with PETRONAS' strategy of strengthening its position as one of the global leaders in Liquefied Natural Gas (LNG). The transaction follows a joint venture established between the two companies last year to develop a portion of Progress' Montney shale assets in the Foothills of northeast British Columbia which reflected the desire by both parties to explore additional opportunities to develop LNG export capacity on the west coast of British Columbia.

dyor etc..

[energiser01] 25/6/2012 14:45

uPDATE - Tag Oil (2.04% of NAV% trust @ 31/3/12)

TAG Oil's Taranaki Basin Operations Continue to Deliver Excellent Results

full rel @

TAG Oil's Taranaki Basin Operations Continue to Deliver Excellent Results
VANCOUVER, June 25, 2012 /CNW/ - TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF), is pleased to provide a Taranaki Basin drilling and operations update. This update is being provided prior to TAG's year-end results, which will include an independent assessment on proven, probable and possible reserves, and is expected to be announced on June 29, 2012.

Taranaki Basin Production

Current daily production is approximately 2,600 to 2,800 barrels of oil equivalent per day ("BOE"). The split between oil and natural gas is currently approximately 57% oil to 43% gas until such time as the enhancements to Cheal's artificial lift capabilities are completed, allowing oil currently held behind-pipe to flow.

There are currently 18 wells at the Cheal oil and gas field that are capable of production, eight of which are currently on-stream. In addition, TAG has two of the four commercial wells currently on-stream at Sidewinder. Once infrastructure upgrades have been fully completed, a minimum of ten more Cheal wells and two additional Sidewinder wells will be placed into full-time production. In addition, results from TAG's ongoing drilling program and a number of workover operations are expected to contribute to future increases in production.

Because of the lightly explored nature of TAG's Taranaki Basin fields, it is difficult to accurately estimate future daily production. TAG is confident however, that with twelve successful wells already drilled with behind-pipe production awaiting tie-in, daily oil and gas production will increase to more than 5000 BOE per day over the next six to nine months, with potential to exceed that estimate depending on well performance, the outcome of additional development drilling, exploration drilling and workover operations.

Sidewinder and Cheal Drilling Program

Cheal-C3:
Electric logs indicate economic oil-and-gas pay in the recently drilled Cheal-C3 well consistent with other wells drilled in the Cheal "C" block. Cheal-C3 recorded a total of 17.5 meters of pay including 6.5 meters of pay within the Urenui Formation and 11 meters of pay in the Mt. Messenger Formation. It is important to note that Cheal-C3 was drilled updip of the Cheal-C2 gas/condensate discovery, and continues to extend the known oil and gas saturation area in this new discovery site. The Cheal-C2 discovery well achieved initial flow rates of approximately 14 million cubic feet of gas per day (~2,333 BOE per day), and with associated condensate production. Completion and testing operations of Cheal-C3 will be conducted in the near future.

Cheal-C4:

dyor etc.

[marab] 22/6/2012 11:34

energiser01 - oil prices being hammered but NCE seems to have bottomed out though. That Coalspur presentation was pretty interesting, and could make quite a difference here in the future.

[energiser01] 22/6/2012 11:11

Update - Coalspur (2 nd largest holding @ 6.7% of NAV at end of May 12)

June Presentation - A useful reminder of just how big this is going to me. 1st prod targeted for 2015, demand (and prices) should be on the up by then...

Expecting offtake/partner announcements over next 3 to 6 months, should help to get the share price heading back in the right direction...

Full Rel @
or


dyor etc..

[energiser01] 21/6/2012 13:52

Update - Neon Energy (2.38% of NAV at end of March)

full rel @

Neon Confirms Contingent Resource at Paloma
Highlights
• Testing at Paloma Deep-1 confirms producible light oil and gas from Lower Antelope Shale,
Lower Stevens Sand and Fruitvale Shale
• Contingent Resource estimated at 26 MMbbls oil and 22 Bcf gas (recoverable, best case)*
• Three additional zones of interest remain to be tested
• Paloma Deep-2 appraisal well drilling on schedule, at 11,600 feet
• Paloma-3 well at Total Depth (TD) 6,000 feet, preparing to test potential shallow gas pay
Neon Energy Limited (ASX: NEN) is pleased to announce that production testing at its
Paloma Deep-1 well, onshore California, has proven the presence of producible oil, gas and
condensate within the Lower Antelope Shale, Lower Stevens Sand and Fruitvale Shale.

dyor etc..

[energiser01] 20/6/2012 09:46

Well looks like OIL price levelling, next move should be up on that front, so many dynamics in play almost impossible to call, but the companies are continuing to generate increased value, so bodes well for the future.

I'll be adding at these levels, funds permitting.

Update - Rialto.

Full rel @

Weekly drilling report seen as very positive, share price up 17% in AUS overnight, albeit from recent low point. Hopefully may act as turning point given the potential of Gazelle....

dyor etc..

[marab] 13/6/2012 10:34

energiser01 - please stop posting good news on here, you're bringing the share price down ;( Gets a better buy every week here doesn't it ;)

[energiser01] 13/6/2012 10:29

Update - Nautical pet (1.03 of NAV at 31/3/12) cash bid by Cairn.

Cairn looking to increase North Sea Exposure

Full Rel @


FOR IMMEDIATE RELEASE 13 June 2012

Recommended Cash Offer

by

Capricorn Energy Limited ("Capricorn"), a wholly-owned subsidiary of Cairn Energy PLC ("Cairn")

for

Nautical Petroleum plc ("Nautical")

(to be implemented by way of a Scheme of Arrangement under Part 26 of the Companies Act)

Summary

· The boards of Cairn and Nautical are pleased to announce that they have reached agreement on the terms of a recommended cash offer to be made by Capricorn for the entire issued and to be issued share capital of Nautical (the "Offer"). It is intended that the Offer will be effected by way of a Court sanctioned scheme of arrangement under Part 26 of the Companies Act.

· Under the terms of the Offer, Nautical Shareholders will be entitled to receive 450 pence in cash for each Nautical Share held.

· The Offer values the issued and to be issued share capital of Nautical at approximately £414 million. (Nautical held cash and deposits of £69.9 million at 31 December 2011.)

· The Offer Price represents a premium of approximately:

o 51.1% to the closing price of 297.8 pence per Nautical Share on 12 June 2012, the Business Day immediately prior to the date of this announcement; and

o 45.3% to the average closing price of 309.8 pence per Nautical Share over the three month period ended 12 June 2012.

· The Cairn Directors believe that the acquisition of Nautical is an attractive opportunity to expand its existing portfolio in North-West Europe and to continue its strategy of balancing its transformational exploration portfolio with appraisal and development assets. Specifically Nautical would:

o increase Cairn's interest in UK Licence PL1430 (the Catcher area), including the Catcher, Burgman, Carnaby and Varadero oil discoveries, by 15%, taking Cairn's overall interest to 30%;

o provide Cairn with a 25% interest in Kraken, another large, North Sea oil development project;

o provide Cairn with a 6% interest in the Mariner oil field, planned for development sanction by the operator, Statoil;

o provide Cairn with a minimum of a 50% interest in Block 9/1a (UK Licence P1759) and the associated Ketos prospect;

o provide Cairn with additional growth potential through an active near-term exploration and appraisal programme in the UK North Sea;

o add to Cairn's growing contingent resource base with 86 million barrels of 2C contingent resources; and

o enable Cairn to build on the achievements of Nautical in the North Sea by applying Cairn's expertise and access to capital to further create value from Nautical's asset base.

dyor etc..

[energiser01] 08/6/2012 15:40

Update - Nautical pet (1.03% of Nav @ 31/4/12)

06-Jun-2012 Carnaby Oil Discovery



Nautical Petroleum plc (LSE: NPE) is pleased to announce that the Carnaby well 28/9a-5A located on UKCS Central North Sea Block 28/9a has reached Total Depth of 4,695 feet Measured Depth and has successfully encountered good quality oil in the Lower Tay sandstone.

The well encountered 44 vertical feet of net oil pay in a single Tay sandstone interval of 46 feet gross vertical thickness. Preliminary log analysis indicates that the average porosity in the reservoir interval is 36% and the average oil saturation is 85%. The oil gravity estimated from wireline samples is 24°API.

The well also intersected thin hydrocarbon-bearing sands in the Tay above the main oil reservoir and water-bearing Tay sands approximately 100 feet below the oil zone.Good quality Cromarty sands were encountered but they were not hydrocarbon bearing.The well will now be plugged and abandoned as planned.

Steve Jenkins, Nautical's Chief Executive Officer, commented:

"The Carnaby well has discovered another excellent Tay reservoir in the Catcher block which will be a valuable addition to the discoveries already made at Catcher, Varadero and Burgman. The quality and widespread distribution of these sands augurs well for further success and efficient oil production from current and future discoveries in this prolific block. Encouragingly, the oil gravity is similar to Burgman, confirming that good oil quality is likely even in the shallowest prospects."

Nautical has a 15 per cent. equity interest in North Sea Block 28/9a.

dyor etc..

[energiser01] 07/6/2012 16:30

Update - NCIM Interims out today, so a few changes and updates to assess.

As of March 2012 trust had small holding (1.32%) in Secure Energy Services.

In May they looked to have reported very strong Q1.

full rel @

The first quarter of 2012 proved to be Secure's strongest quarter on record, increasing revenue (excluding oil purchase/resale) by 465% over the first quarter of 2011 and increasing earnings before interest, taxes, depreciation and amortization ("EBITDA") by 204% co mpared to March 31, 2011. Activity levels remained solid throughout the first quarter with the exception of March where spring break up started two weeks earlier than anticipated. Although spring break up was earlier than last year, both divisions were able to deliver outstanding results. Overall, the operating and financial highlights for the first quarter March 31, 2012 can be summarized as follows:

•Increased EBITDA per share (diluted) by 119% to $0.35 for the three months ended March 31, 2012 compared to $0.16 for the three months ended March 31, 2011;
•Generated total profit for the period of $15.0 million, which increased by 254% from $4.2 million in the first quarter of 2011;
•Achieved record revenue (excluding oil purchase and resale) of $115.4 million for the three months ended March 31, 2012 compared to $20.4 million in the comparable period of 2011. The PRD division saw increased demand for services with processing and terminaling volumes increasing by 177% compared to the first quarter of 2011. The PRD division also benefited from higher throughput and increased demand from its new Drayton Valley FST and Silverdale FST's. The DS division (acquired June 1, 2011) also had a solid first quarter realizing a 28% market share in western Canada, which resulted in a total of 13,875 operating days in Canada and revenue per operating day of $4,919;
•Reported oil purchase and resale revenue in the first three months of 2012 of $162.3 million compared to $47.6 million in the same period of 2011. The increase is a result of the Corporation becoming a single shipper at the Drayton Valley FST in January 2012 and single shipper at the La Glace FST in the fourth quarter of 2011, in addition to increasing throughput at all pipeline connected facilities;
•Achieved EBITDA of $32.6 million for the three months ended March 31, 2012 compared to $10.7 million in the same period of 2011. EBITDA has increased significantly as a result of the new DS division added in June of 2011 and the new facilities and the added expansion services in the PRD division added during the last half of 2011. The Corporation has also benefited from increased demand for services and continued strength in energy sector activity during the first quarter of the 2012 year;
•Completed the acquisition of the operating assets (excluding working capital) of New West Drilling Fluids Inc. ("New West") for an aggregate cash purchase price of $3.4 million. New West specialized in providing drilling fluid systems and products for heavy oil drilling. New West is well known for its patented SAGD system, "B ITUDRIL", the first bitumen encapsulating polymer based system on the market. Adding New West's assets, including BITUDRIL, to Marquis Alliance's existing patented and proprietary SAGD product line will increase Marquis Alliance's ability to provide the most cost effective drilling fluid solutions in the SAGD market;
•Incurred capital expenditures of $35.8 million. This includes the $3.4 million for the New West acquisition, $0.5 million of sustaining capital and $31.9 million on growth and expansion capital. Expansion capital of $4.3 million was incurred to increase capacity at several FST's, which included adding waste processing services, additional risers, tanks, meters, and disposal wells. A total of $27.6 million was incurred on growth capital expenditures on projects in various stages of development. The projects are as follows:
◦Wild River SWD (permanent facility);
◦Phase III (oil treating and terminalling) at Dawson FST;
◦Oil based mud ("OBM") blending plant at the Drayton Valley FST;
◦Judy Creek FST and Rocky Mountain House ("Rocky") F ST;
◦Saddle Hills and Fox Creek landfills;
◦Rental equipment (centrifuges, tanks);
•Exercised the accordion feature on the Corporation's existing revolving credit facility. The revolving credit facility was increased from $150.0 million to $200.0 million. The Corporation's current available debt capacity and projected cash flow from operations provides sufficient funding to execute on the Corporation's 2012 capital budget of $116.0 million;
•Maintained a strong balance sheet, exiting the first quarter 2012 with positive working capital of $89.5 million and available borrowings of $72.7 million;
•Continued to actively participate in environmental recycling process improvements and cost saving initiatives for customers. This includes performing test pilot programs on drilling fluids recycling. The Corporation is also engaged in research/development on new techniques that will ultimately provide customers with new opportunities to recycle, re-use and reduce oil and gas by- product waste; and
•Increased the Corporation's total employee count to over 600 employees in order to support current and continued growth. The Corporation is proud to be an employer of choice, investing in people that provide safe and innovative solutions

dyor etc..

[energiser01] 06/6/2012 14:35

Agreed share price 38.5 (bid) Vs 43p (Offer) haven't try to trade online...

Vs NAV of 57p on 31st. Some of the individual SP's down over 50%, but earnings up considerably more in a lot of cases...

NEW CITY ENERGY LIMITED

Date of Announcement: 06 June 2012

Net Asset Value per share as at 31 May 2012

The unaudited net asset value (NAV) of the company is noted below in pence per share.

New City Energy Limited
Pence per Share 57

The unaudited fully diluted net asset value (NAV) of the company is noted below in pence per share.

New City Energy Limited
Pence per share 61

dyor etc..

[marab] 06/6/2012 12:39

'@ somepoint the valuations vs earnings has either got to lift the SP's or some of these smaller companies will get taken out by bigger fish' that's pretty much how I see the situation here, and in the mean time we get a dividend while we wait.

[energiser01] 06/6/2012 12:15

Update - Pacific Rubiales offer for PetroMagdelena (Columbian Focussed and growing well) - PR already owned a chunk, looks like a good move. Petro also has some links to Gran Tierra as well, another of NCE's holdings.

full rel @

PetroMagdalena announces all-cash offer by Pacific Rubiales
TORONTO, June 5, 2012 /CNW/ - PetroMagdalena Energy Corp. (TSX-V:PMD) announced today that it has entered into a definitive agreement (the "Arrangement Agreement") with Pacific Rubiales Energy Corp. (TSX:PRE; BVC: PREC; BOVESPA: PREB), pursuant to which Pacific Rubiales has offered to acquire all of the issued and outstanding common shares of PetroMagdalena (the "Shares") by way of a Plan of Arrangement under the British Columbia Business Corporations Act (the "Arrangement").

Under the Arrangement, shareholders of PetroMagdalena will receive C$1.60 in cash for each outstanding Share, representing a premium of approximately 38% on the 20 day volume weighted average price of PetroMagdalena's common shares on the TSX-V as of June 4, 2012. In addition, holders of all of the outstanding PetroMagdalena warrants (TSX-V: PMD.WT) (the "Warrants") will receive C$0.25 in cash for each unexercised Warrant held at closing. The Warrants had a closing trading price on the TSX-V of C$0.215 on June 4, 2012.

Petro's Q1 results for added info



dyor etc..

[energiser01] 31/5/2012 14:08

Update - Rialto.

Looks like share price got hammered in the current enviroment as the won't drill on condor again till late 2013...

full rel @

dyor etc..

[energiser01] 29/5/2012 16:26

Update - Pacific Rubiales

Full rel @

Pacific Rubiales expands investment in Guyana offshore oil play
TORONTO, May 28, 2012 /CNW/ - Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC; BOVESPA: PREB) is pleased to announce that it has agreed to purchase 85,714,285 units of CGX Energy Inc. (TSX-V: OYL) ("CGX") at a price of C$0.35 per unit for an aggregate investment of C$30 million. At the same time, the Company has entered into a technical services agreement with CGX whereby Pacific Rubiales will provide technical assistance to CGX in respect of its operations. In addition the Company will have an option to participate in each of the next wholly owned commitment wells to be drilled on the Corentyne and Annex offshore Petroleum Production Licences ("PPL"), in Guyana, by funding 50% of the exploration well costs and certain seismic costs, in exchange for a 33% interest in the respective PPL's.

Ronald Pantin, Chief Executive Officer of the Company, commented: "This is a great opportunity for the Company to expand its investment in the highly prospective offshore Guyana oil play. Through our ownership in CGX, the technical services agreement and a direct earning option, the Company will be participating in an exploration campaign in an offshore basin with analogous geology to West Africa and Brazil. We are looking forward to working with the management of CGX on realizing the potential of offshore Guyana. This investment is strategic to the Company's objective of being the leading Latin American independent explorer and producer of hydrocarbons."

dyor etc..