Mining, Oil & Gas News & Blog

Entries for January 2015

28
Agriculture sector welcomes low diesel prices is one that gains from lower energy costs

The recent plunge in fuel prices has been a welcome relief across the agricultural sector, helping ease the pain of low grain prices for growers and boosting profits for cattle ranchers.

[Read More]

Posted in: Oil and Gas
28
The bottom is falling out of the iron ore Prices Hit 5½-Year Low

The iron ore price plummeted on Monday as negative sentiment overwhelms a market bracing for a supply glut and falling consumption.

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Posted in: Mining
27
The Solar Industry Created More Jobs In 2014 Than Oil And Gas Extraction

US solar industry added industry added jobs at a rate nearly 20 times faster than the national average last year

[Read More]

Posted in: Oil and Gas
21
Australian Mining Giant BHP Is Shutting Down 40% Of Its US Shale Wells

The hits keep coming for shale gas producers as In an announcement on Tuesday night (well, Wednesday morning in Australia), Australian mining giant BHP said it would shut down 40% of its US shale oil rigs over by the end of its fiscal year.

[Read More]

Posted in: Mining
21
Xtract aims for positive cash flow in February

Xtract Resources told investors it continues to combat challenging conditions at the Chepica project and said it is now aiming for mining operations to be cash flow positive during February, rather than January.

[Read More]

Posted in: Mining
21
Most copper producers in Zambia losing money - Chamber of Mines

Over half of Zambia's copper producers are currently losing money due to metal prices hitting five and a half year lows and a recent mining tax hike that severely penalizes most operations, the country's Chamber of Mines said on Monday.

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Posted in: Mining
20
Tethys Petroleum Sorts Out Short-term Liquidity Issues.

Kazakhstan-focused Tethys Petroleum (has taken out a US$6mln unsecured loan facility with a Cayman Islands registered private firm.

[Read More]

Posted in: Oil and Gas
19
Potash West Achieves Significantly Improved Economics For Dinner Hill Project

Potash West (ASX:PWN) is an exploration company focused on exploiting a very large, shallow deposit of greensand, which contains both rock phosphate and glauconite. Glauconite is a green mineral commonly containing 4-6% potash as KO as well as varying amounts of iron, aluminium and magnesium.

[Read More]

Posted in: Mining
14
Gulfsands Cancels Shareholder Meeting As It Sorts Status Of An Investor

Gulfsands Petroleum PLC Tuesday said it has cancelled its planned shareholder meeting that was set to allow investors to try and resolve ongoing disputes that have split the board and management and its biggest shareholders.

[Read More]

Posted in: Oil and Gas
13
Gulfsands eyes gas sales from DRC-1 after successful flow test

Gulfsands Petroleum has confirmed Dardara Southeast 1 at Rharb Centre in Morocco operation.

[Read More]

Posted in: Oil and Gas
13
Rose Petroleum eyes high impact milestones in coming months

Rose Petroleum told investors it sees high impact news flow in the next few months, as it anticipates well results and a new CPR for the Utah shale venture.

[Read More]

Posted in: Oil and Gas
13
LNG Another Casualty Of Low Oil Prices

The oil industry is facing rising debt from collapsing oil prices, but there could be another sector that becomes a casualty of the low oil price environment: liquefied natural gas (LNG).

[Read More]

Posted in: Oil and Gas
08
Circle Oil to “significantly enhance” finance function with new appointment

Circle Oil has hired Susan Margaret Prior as the group’s new executive finance director.

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Posted in: Oil and Gas
08
Beowulf negotiates early end to equity swap arrangement

Iron ore explorer Beowulf has agreed an early settlement of its equity swap agreement with Lanstead Capital.

[Read More]

Posted in: Mining
08
Eland Oil & Gas set for year of growth as it secures US$75mln financing

Eland Oil & Gas is set to shrug off the oil price ailments affecting many of its peers as the Nigeria-focused firm continues to benefit from the development of the Opuama field.

[Read More]

Posted in: Oil and Gas
07
Red Rock Resources secures US$550,000 convertible loan

Red Rock Resources is to bring in US$550,000 with the issue of convertible loan note. MG Partners, an affiliate of Magna, is providing the loan which carries 4% interest and has a 12 month maturity.

[Read More]

Posted in: Mining
07
Gulfsands Petroleum reveals second straight success onshore Morocco

Gulfsands has encountered excellent quality gas bearing reservoirs at the Rharb Centre project, onshore Morocco.

[Read More]

Posted in: Oil and Gas
06
Oil Companies Made Massive Bets That Oil Prices Are Not Going To Go Up
According to a report by Business Insider OPEC's biggest members are counting down the months until their upstart rivals lose the one thing shielding them from crashing oil prices — hedges.

[Read More]

Posted in: Oil and Gas
06
Victoria Oil & Gas shares advance 24% after transformational Cameroon gas supply deal
Victoria is an independent oil and gas exploration and production company with projects in Africa and the FSU. The Company’s principal assets are the Logbaba gas and condensate field in Cameroon and the West Medvezhye oil and gas project in Siberia, Russia.

[Read More]

Posted in: Oil and Gas
06
Lekoil chief is still positive and says low cost strategy ‘working out for us right now’
Africa focused exploration and production company.Management and board with strong technical and financial experience and relationships on continent. Lekoil Nigeria recently entered into a farm out agreement with Afren PLC to acquire an overall 30 per cent economic interest, including a 17.14 per cent participating interest, in OPL310, an offshore Nigerian asset located in the Dahomey-Benin Basin

[Read More]

Posted in: Oil and Gas
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