Petrominerales Ltd. (TSX:PMG), a 66% owned subsidiary of Petrobank Energy and Resources Ltd. (TSX:PBG), updated on production and exploration activities highlighted by the decision to case Candelilla-2 as a potential oil well and to immediately drill a third well into the Candelilla structure.
The MarketOracle presents a forecast of Crude Oil and Natural Gas in 2010:
The Financial Times reported on Tuesday that Nigeria plans to sell oilfield assets this year containing as much as 2 billion barrels of reserves either relinquished by Western firms or unsold in three previous bidding rounds.
On Wednesday, it was reported that the daily output at Iran's Azadegan oil field has reached 40,000 barrels per day (bpd) and will soon hit 50,000 bpd.
Pyramid Oil Company (NYSE Amex: PDO) reported that the company has concluded drilling operations on its Anderson #10 development well, located in the Company's Carneros Creek field in Kern County, California.
Universal Energy Corp. (PINKSHEETS: UVSE) reported that the company is taking steps to resume trading of its common shares on the OTCBB.
On Friday, U.S. crude futures ended down, raking up the biggest monthly percentage loss since December 2008.
Harvest Energy Trust (TSX:HTE.DB.B) (TSX:HTE.DB.D) (TSX:HTE.DB.E) (TSX:HTE.DB.F) (TSX:HTE.DB.G) and its 100 % owned subsidiary, Harvest Operations Corp.,reported that Korea National Oil Corporation has agreed to make an additional capital contribution to Harvest of approximately $465.7 million, the proceeds of which will initially be used to repay existing indebtedness.
Orleans Energy Ltd. (TSX:OEX) provided information on its oil and gas reserves as of December 31, 2009, as evaluated by the Company's independent reserve engineering firm, Sproule Associates Limited.
It is reported that Neste Oil will publish its fourth quarter and full year 2009 results on Thursday, 4 February 2010 at approximately 9 am (EET).
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