Oil & Gas Exploration and Production

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Amerisur Resources Plc announces acquisition of Petrodorado South America SA

Monday, 29 Jun 2015 06:37am EDT

Amerisur Resources Plc:Says acquisition of Petro Dorado South America SA (PDSA), a subsidiary of Petro Dorado Energy Ltd. (PDEL).Payment to PDEL of total of $6MM in three instalments, $3MM upon closing, and two further instalments of $1.5 MM at three-monthly intervals.This consideration may be paid in cash or in Amerisur stock, based on the 5 day VWAP preceding the due date for each instalment, at the election of Amerisur.Amerisur has elected to issue stock for first instalment and will issue 5,148,447 new ordinary shares based on 5 day VWAP of 37.0214 pence.

Govt rejects Cairn Energy PLC's arbitration on tax dispute - Business Standard

Sunday, 28 Jun 2015 08:00pm EDT

Cairn Energy PLC:Says government has rejected Cairn Energy’s plea for an arbitration over there 102.47 bln indian rupees tax, dispute saying taxation is not covered under the UK-India Investment Promotion and Protection Treaty- Business Standard.Says it had invoked the clause as it has not been allowed to carry out its natural course of business.Says Cairn has retorted that it hasn’t raised taxation under the treaty but it contending that by the government's action, it has not been able to conduct is business in India.

U.S. Supreme Court rejects BP Plc, Anadarko Petroleum Corp over Deepwater Horizon spill penalties - Reuters

Sunday, 28 Jun 2015 08:00pm EDT

Anadarko Petroleum Corp:Says U.S. Supreme Court rejected bids by BP Plc and Anadarko Petroleum Corp to avoid penalties under federal pollution law in connection with the 2010 Gulf of Mexico oil spill - Reuters.Says high court left in place a June 2014 ruling by the New Orleans-based 5th U.S. Circuit Court of Appeals, which said the companies were liable for civil penalties under the federal Clean Water Act.Says BP could face a maximum penalty of $13.7 billion under the Clean Water Act.Says Anadarko could be required to pay more than $1 billion.Says U.S. District Judge Carl Barbier in New Orleans has not yet imposed penalties, but has ruled that BP was grossly negligent and that 3.19 million barrels of oil were spilled.Says BP and Anadarko owned a respective 65 percent and 25 percent of the Macondo well.Says the companies had argued in part that they should not be responsible for oil spilled as a result of failed equipment on the drilling rig, which was owned by Transocean Ltd.As co-owners of the well, BP and Anadarko would be on the hook for resulting fines, the appeals court ruled.

Gran Tierra Energy Inc announces chief executive officer change - Form 8-K

Friday, 26 Jun 2015 06:03am EDT

Gran Tierra Energy Inc:Says that Gary S. Guidry was appointed as president and chief executive officer of Gran Tierra.Says Guidry replaces Duncan Nightingale in that role, who has been serving as interim chief executive officer since Feb. and, with appointment of Guidry as chief executive officer, has been designated as executive vice president of Gran Tierra.

PA Resources AB seeks extension of corporate reorganisation process

Thursday, 25 Jun 2015 11:35am EDT

PA Resources AB:Says has filed a petition to extend the corporate reorganisation.Says company believes it needs further time to complete reorganisation.Says has therefore submitted a petition to the Stockholm District Court to extend it with a further three months.

Forent Energy increases size equity offerings

Thursday, 25 Jun 2015 09:00am EDT

Forent Energy Ltd:Says increasing the size of its previously announced equity offerings.Increasing size offerings from contemplated $2.0 million to up to $2.5 million at 40 cents per share.Net proceeds from the private placement will be used to strengthen Forent's balance sheet and for general corporate purposes.

Cadogan Petroleum PLC appoints Chief Executive Officer

Thursday, 25 Jun 2015 08:02am EDT

Cadogan Petroleum PLC:Has appointed Guido Michelotti as its Chief Executive Officer and as Director.

Montana Exploration Corp to acquire Gale Force Petroleum Inc

Wednesday, 24 Jun 2015 08:12pm EDT

Montana Exploration Corp and Gale Force Petroleum Inc:Say that they have entered into arrangement agreement pursuant to which MTZ will acquire all of issued and outstanding common shares and Series III preferred shares of Gale Force by way of a statutory plan of arrangement under Canada Business Corporations Act.Says purpose of arrangement is to combine Shaunavon oil and Eagle gas exploration and development potential on MTZ's substantial land base in Montana with the cash resources of Gale Force.Says under arrangement, securityholders of Gale Force will receive: (i) 0.465 common shares of MTZ for each GFP common share; and (ii) 0.555 MTZ common shares for each GFP preferred share.

Montana Exploration Corp to acquire Gale Force Petroleum Inc

Wednesday, 24 Jun 2015 08:12pm EDT

Montana Exploration Corp and Gale Force Petroleum Inc:Say that they have entered into arrangement agreement pursuant to which MTZ will acquire all of issued and outstanding common shares and Series III preferred shares of Gale Force by way of a statutory plan of arrangement under Canada Business Corporations Act.Says purpose of arrangement is to combine Shaunavon oil and Eagle gas exploration and development potential on MTZ's substantial land base in Montana with the cash resources of Gale Force.Says under arrangement, securityholders of Gale Force will receive: (i) 0.465 common shares of MTZ for each GFP common share; and (ii) 0.555 MTZ common shares for each GFP preferred share.

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