Endeavour Announces Results of Tesla Exploratory WellHOUSTON - Endeavour International Corporation (Amex: END) (LSE: ENDV) today announced that the Tesla exploratory well 22/24c-11 in the United Kingdom Central North Sea has been plugged and abandoned after failing to encounter gas condensate in commercial quantity. Tauern Gas Pipeline Starts TGL Open Season 2009 on 29th June 2009VIENNA - The allocation procedure for the transportation capacities of the Tauern Gas Pipeline project, known as TGL Open Season 2009, starts on 29th June. In this next step of the feasibility study, the market demand will be determined on the basis of binding capacity requests and long-term transportation capacities allocated on a non-discriminatory basis. All companies that register in the period between 29th June and 21st August 2009 and that meet the requirements of the General Rules (TGL AVR - OS) are entitled to participate. PETRONAS GROUP Results for the Financial Year Ended 31 March 2009KUALA LUMPUR, Malaysia - FINANCIAL YEAR ENDED 31 MARCH 2009 +/- 2008 2007 (Restated) (Restated) (in RM billion) Revenue 264.2 18.4% 223.1 184.1 Profit Before Taxation 89.1 (6.7%) 95.5 76.3 EBITDA 105.5 (4.0%) 109.9 88.7 Net Profit 52.5 (13.9%) 61.0 46.4 Total Assets 388.1 14.4% 339.3 294.6 Shareholder’s Funds 232.1 15.1% 201.7 171.7 (in USD billion) Revenue 77.0 16.3% 66.2 51.0 Profit Before Taxation 26.0 (8.5%) 28.4 21.1 EBITDA 30.8 (5.5%) 32.6 24.5 Net Profit 15.3 (15.5%) 18.1 12.9 Total Assets 106.1 0.1% 106.0 85.2 Shareholder’s Funds 63.5 0.8% 63.0 49.7 Average RM/US$ exchange rate 3.4318 3.3690 3.6100 KEY FINANCIAL AND OPERATIONAL RATIOS FINANCIAL YEAR ENDED 31 MARCH 2009 2008 Return on Revenue (PBT/Revenue) 33.7% 42.8% Return on Assets (PBT/Total Assets) 23.0% 28.1% Return on Average Capital Employed 37.1% 45.4% Debt / Assets Ratio 0.11x 0.11x Reserves Replacement Ratio - Domestic 1.1x 0.9x - International 4.1x 0.6x - Total 1.8x 0.9x Tauern Gas Pipeline Applies for Exemption for Long-Term Investment SecurityVIENNA, Austria - - Application for Exemption Submitted to Austrian Regulatory Authority Addax Petroleum Announces C$52.80 per Share Cash Offer by Sinopec International Petroleum Exploration and Production CorporationCALGARY - Addax Petroleum Corporation (”Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC) announced today that it has entered into a definitive agreement (the “Support Agreement”) with Sinopec International Petroleum Exploration and Production Corporation (”SIPC”) pursuant to which SIPC has agreed, subject to the terms of the Support Agreement, to make an offer to acquire all of the outstanding common shares of Addax Petroleum by way of a negotiated take-over bid (the “Offer”) for C$52.80 per common share in cash. The Offer represents a 47% premium to the closing market price on the TSX of the Addax Petroleum common shares on June 5, 2009, the day prior to Addax Petroleum’s public announcement that it was in preliminary discussions with parties regarding a potential transaction. SIPC is a wholly owned subsidiary of China Petrochemical Corporation (”Sinopec Group”) and undertakes overseas investments and operations in the upstream oil and gas sector. Sinopec Group is China’s largest producer and supplier of oil products and major petrochemical products. The New Economy Energy & Environmental Awards 2009LONDON - The New Economy is pleased to announce the winners of its 2009 Energy & Environmental Awards, recognising excellence in the winners’ respective fields, including innovative use of technology and achievement in other specific areas. The award winners were: IFP and ENEL Sign a Cooperation Agreement in the Field of Post-Combustion CO2 CaptureRUEIL-MALMAISON, France - IFP and ENEL have just signed a memorandum of understanding to test the first-generation post-combustion capture process, developed by IFP, on a pilot unit to be built by ENEL at the coal-fired power station in Brindisi (Italy). Valeo Research Projects for Low-CO2 Vehicles Supported by French Environment Agency ADEMEPARIS - The French environment agency ADEME is supporting Valeo research projects. Two projects for low-CO2 vehicles, which have received 6 million euros in funding from ADEME, were presented yesterday at the French Sustainable Development Ministry: Rising Energy Demands Necessitate Capacity Additions in Oil and Gas Refineries, Finds Frost & SullivanMUMBAI, India - The sustained economic growth in the country over the last five years has led to a concurrent growth in energy demand across industrial, transportation, commercial, and residential sectors. Oil and gas account for 41 percent of India’s energy consumption and there is unlikely to be any significant scaling down of dependence on these fuels in the next five to ten years. ‘Poo Power’ Gets the Green LightMANCHESTER, England - First Use of Biogas to Supply UK Gas Grid - With Photo The people of Manchester will soon be contributing to a green energy revolution - just by flushing the loo! ARCADIS Launches Another Large Landfill Gas Project in BrazilAMSTERDAM, The Netherlands - ARCADIS (EURONEXT: ARCAD), the international consultancy, design and engineering company, announced the opening of the third large landfill gas (LFG) plant near Rio de Janeiro, Brazil, named Novo Gramacho. The opening coincided with the celebration of the International Environmental Day. The new plant will consolidate the leading market position of Biogas, a company in which ARCADIS Logos holds 33%. In 2004, Biogas opened the Bandeirantes landfill gas project, followed by the Sao Joao project in 2007, both near Sao Paulo. Xebec Adsorption Inc. Consolidates its Position as Global Purification Leader in the Clean Energy, Hydrogen and Renewable Natural Gas SectorsBLAINVILLE, Quebec - Merger of Xebec Adsorption and QuestAir Technologies Completed Xebec Adsorption Inc. (TSX: XBC) (”Xebec”), the company formed by the merger of QuestAir Technologies Inc. (”QuestAir”) and Xebec Adsorption Inc. (”Xebec Adsorption”), today announced that the previously approved statutory plan of arrangement (the “Arrangement”) involving QuestAir and Xebec Adsorption, has been completed. ITC’s Unique Social Forestry Project Bags Carbon Credits for Poor TribalsKOLKATA, India - The CDM Executive Board of the United Nations Framework Convention on Climate Change has confirmed the registration of ITC’s unique and large-scale social forestry project - a first of its kind in India. Endeavour to Present at Enercom London Oil & Gas ConferenceHOUSTON - Endeavour International Corporation (NYSE-Amex: END) (LSE: ENDV) will participate in The London Oil and Gas Conference hosted by Enercom, Inc. on Thursday, June 18, 2009. Oil Refineries’ Board Reiterates Approval to Establish Hydrocracker at Reduced Cost of $500 MillionHAIFA, Israel - ORL Succeeds in Reducing Cost From Original $670 Million by Leveraging Macro-Economic Environment Unit, due to be Operational by Early 2012, is Expected to Process 25,000 Barrels per day Unit Expected to Increase ORL’s Nelson Complexity Index From Current 7.4 to 9.0 Bull SAS and ffA (Foster Findlay Associates Ltd) Have Entered Into a Partnership Agreement to Deliver ffA GPU-enabled 3D Seismic Analysis Software to the Oil and Gas Community on Bull High Performance Computing SystemsAMSTERDAM - Seismic interpreters are facing a growing amount of data to interpret and the demands for computational tools to underpin the 3D seismic interpretation process throughout the E&P workflow have never been more apparent. Through use of ffA’s high performance computational software, a data driven approach to 3D seismic interpretation can provide the step change in productivity required for geoscientists to fully exploit their data and deliver more accurate interpretations of the subsurface, improved understanding of uncertainty and better quantification of risk. National Petroleum Construction Company Increases its use of AVEVA PlantDUBAI, UAE - AVEVA (LSE:AVV) today announced that National Petroleum Construction Company (NPCC), a global oil & gas EPC contractor, has chosen AVEVA Plant for use on its part of the Integrated Gas Development Project - Habshan Platform Offshore Facilities (IGD-HAP) for ADMA OPCO. British Gas and Romag Announce Plans to Develop Electric Vehicles InfrastructureWINDSOR, England - British Gas and Romag Holdings Plc, the specialist manufacturer of glass and plastic composites for renewable energy applications, have signed a Memorandum of Understanding to collaborate in the testing, marketing, distribution and installation of British Gas branded solar power canopies and other related products. Double Triumph Shows British Gas is a Great Place to WorkWINDSOR, England - British Gas Business and British Gas Services have both been ranked among the UK’s top 50 places to work. British Gas to Acquire Energy and Building Management Solutions LimitedWINDSOR, England - Centrica plc, through its British Gas Business division, today announced that it has acquired Energy and Building Management Solutions Limited for a cash consideration of up to GBP3.2 million. The business combines energy management and consulting services with the capability to design, install, maintain and repair building control systems. Smart Meters to Lead Energy Revolution, Says British GasWINDSOR, England - Every household in Britain could reduce its energy use, cut carbon emissions and save money as a result of smart meters, says Britain’s largest energy supplier. British Gas Cuts Electricity Prices by 10% - is Now the Cheapest Electricity Supplier in BritainWINDSOR, England - British Gas, the biggest supplier of electricity to homes in Britain, which serves around one in every four homes, has today cut an average 10 per cent off its standard electricity prices. British Gas Bring Pools to the PeopleWINDSOR, England - Double Olympic Gold medal swimmer, Rebecca Adlington launches the British Gas Pools 4 SchoolsTM initiative today giving thousands of British children the chance to learn to swim in temporary pools across the country. Centrica in Agreement To Acquire a Stake in Gas Development Block in Trinidad for Future LNG SuppliesWINDSOR, England - Centrica plc, the parent company of British Gas, today announced it has reached an agreement with Canadian Superior Energy Inc. (TSX:SNG) under which Centrica could acquire a 45 per cent interest in gas development Block 5(c), located off the south east coast of Trinidad, for US$142.5 million (GBP87 million) in cash. The agreement is subject to pre-emption rights from the existing field partners and subject to approvals from the Trinidad Government and Canadian courts. The block is operated by BG Group, which holds a 30 per cent stake. Amsterdam Court of Appeals Declares Shell Settlement BindingTHE HAGUE, The Netherlands - The Hague - Today, the Amsterdam Court of Appeals has declared the Non-U.S. Settlement Agreement concerning the recategorisation by Shell of certain of its oil and gas reserves binding. The agreement provides relief in the amount of US$352.6 million to qualifying non-U.S. shareholders who bought Shell shares on any stock exchange outside the United States from 8 April 1999 through 18 March 2004. The settlement amount includes a US$12.5 million payment which is to be distributed equally to all shareholders who submit a valid claim for relief, regardless of the number of shares held by the person or entity submitting a claim. Addax Petroleum Presents at Upcoming ConferencesCALGARY, Canada - Addax Petroleum Corporation (”Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC) announces that Mr. Jean Claude Gandur, President and Chief Executive Officer, will be presenting at the Credit Suisse London Oil & Gas Conference 2009 on Tuesday, June 2, 2009 at approximately 2:30 p.m. British Summer Time (9:30 a.m. Eastern Time). Update: Endeavour to Present at IPAA Oil and Gas Symposium LondonHOUSTON - Endeavour International Corporation (NYSE-Amex: END) (LSE: ENDV) will participate in Oil and Gas Investment Symposium London hosted by the Independent Petroleum Association of America (IPAA) on Tuesday, June 2, 2009. The event will be held in conjunction with Credit Suisse’s London Oil and Gas Conference. Addax Petroleum Corporation - Change to Record Date for DividendCALGARY - Addax Petroleum Corporation (”Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC) announces that, further to the dividend declaration in the news release issued on May 13, 2008, the dividend record date has been changed to Monday, June 8, 2009. The dividend payment date of June 18, 2009 remains unchanged. Volga Resources Raises Stake in Novatek to 18.2%LONDON - Volga Resources SICAV-SIF S.A (”Volga”), the Luxembourg-based investment fund, announces that it has agreed to purchase 13.13% of the issued share capital of OAO Novatek (”Novatek”) from Cartagena Development Inc. which is indirectly controlled by Novatek`s management. This transaction will take Volga’s total holding in Novatek to 18.2%. Growing Your Business in the RecessionTOWCESTER, England - Conference and Exhibition, Whittlebury Hall Near Towcester, Northants Friday, 12 June 2009 National Grid - CEO Interviewed on Preliminary ResultsLONDON - National Grid, the international electricity and gas company, today announced preliminary results for the year ended 31 March 2009. IV International Conference: <
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