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BRUSSELS - Swedish bioenergy company SEKAB was presented the prestigious
“Sustainable Bioethanol Award” for its development of verified sustainable
ethanol and the technology for bioethanol based on cellulose at an event in
Brussels including the world’s foremost leaders in biofuels.
CALGARY, Canada - TT-10 Appraisal Well Generates Record Aggregate Rate of 44,240 Barrels
per day
BRUSSELS - In a gala event including the world’s foremost leaders in biofuels,
PetroAlgae (OTC Bulletin Board: PALG) last night was presented the
Sustainable Biofuels Technology Award in the Technology Supplier category at
the 2009 World Biofuels Markets in Brussels.
MARSEILLE, France - “Wind energy can replace a large proportion of the polluting and finite
fuels we currently rely on,” explained Andris Piebalgs, EU Energy
Commissioner, at the opening session of the European Wind Energy Conference
and Exhibition (EWEC) organised by the European Wind Energy Association
(EWEA) this morning. “It makes good sense to invest in indigenous sources of
power which hedge against unpredictable fossil fuel prices and in which
Europe has a real competitive advantage”.
CALGARY, Canada - Addax Petroleum Corporation (TSX: AXC and LSE: AXC) (”Addax Petroleum” or
the “Corporation”) will host a management presentation to financial analysts
and investors on Monday, March 23, 2009 in London, U.K. and on Tuesday, March
24, 2009 in Toronto, Canada. The Corporation’s senior management team,
including Mr. Jean Claude Gandur, President and Chief Executive Officer, Mr.
James Pearce, Chief Operating Officer, Mr. Michael Ebsary, Chief Financial
Officer, Mr. Jeff Schrull, General Manager Exploration, and Mr. Henry
Legarre, Technical Manager Middle East will discuss the Corporation’s most
recent operating results and expectations regarding future operations.
HOUSTON - Platts, a leading global energy information provider, today confirmed it
will launch a major new crude oil price assessment to capture the
representative value of crude oil in the U.S. Gulf of Mexico, the main hub
for refining, production, importing and handling of crude oil in the United
States. Platts’ decision to begin publishing the new price assessment follows
a period of extensive consultation with oil market participants.
LONDON - The need for storing energy along with the preference for cleaner storage
techniques opens the door to enormous opportunities for alternative energy
storage technologies in numerous end-user and almost all geographical markets
worldwide.
HOUSTON - Far East Energy Corporation (OTC Bulletin Board: FEEC) announced the
formation of a strategic alliance with Arrow Energy International Pte Ltd.
(”Arrow”), the Singapore-based international arm of Arrow Energy Ltd., a
large Australian coalbed methane (”CBM”) producer. As part of the strategic
alliance, under a farm-out agreement, Arrow will pay Far East US $8 million
in cash, and Far East will assign to Arrow a 75.25% share of Far East’s
participating interest in the Qinnan Production Sharing Contract (”PSC”) to
develop CBM resources in the Shanxi province of China. The farm-out agreement
is subject to certain conditions precedent, including approval by appropriate
Chinese authorities. Arrow will become the operator under the Qinnan PSC and
fund all exploration costs during the exploration period, including Far
East’s remaining 24.75% participating interest, until Arrow has incurred up
to US $30.0 million of total spending on exploration. If the Chinese
authorities ultimately approve an Overall Development Plan (”ODP”) for
development of all, or a portion of, the block, Arrow will pay Far East a
bonus of US $8 million.
BRUSSELS - At World Biofuels Markets (WBM) 09, the scene last year of mass protests
against corn and soy based biofuels, PetroAlgae (OTC Bulletin Board: PALG)
will this year help demonstrate the near-term commercial viability of
algae-based biofuel. In contrast with corn and soy, algae does not compete
with the food supply, actually consumes C02 (2.2 times its own weight),
leaves no toxic waste during the harvesting process, is essentially carbon
neutral and is 25x to 100x more productive than other crop feedstocks.
PetroAlgae can replace the entire world’s supply of diesel on a very small
fraction of the Earth’s landmass.
LONDON - Businesses Should Seize Opportunity to Demonstrate Green Credentials
New research from the Carbon Trust Standard shows that consumers still
want to buy green despite the current economic climate, with 62% of consumers
saying environmental concerns influence their purchasing decisions ‘the same
as a year ago’ and just over a quarter saying they influence them ‘even more’
than in 2008.
HOUSTON - Endeavour International Corporation (NYSE-Alt: END) (LSE: ENDV) today
reported net income to common stockholders for 2008 increased to US$45.7
million or US$0.32 per diluted share as compared to a loss of US$60.3 million
or US$0.49 per diluted share in 2007. Revenues in 2008 increased more than 47
percent to US$260.4 million from US$176.1 million in 2007. The company
reported adjusted earnings before interest, taxes, depreciation and
amortization (EBITDA) of US$176.5 million from US$124.1 million in 2007.
Discretionary cash flow for the year was US$120.8 million.
CALGARY, Canada - << Deepwater Exploration Campaign Expected to Commence in the Fourth
Quarter of 2009 >>
ARNHEM, The Netherlands - Favorable Market for Energy Consulting, Testing and Certification
Activities
LONDON - Production down 900,000 barrels per day
Platts — The 12 members of the Organization of the Petroleum Exporting
Countries (OPEC) (www.opec.platts.com/) pumped an average 28.07
million barrels per day (b/d) in February, as the oil producer club continued
its efforts to slash oversupply and prevent oil prices falling further,
according to a Platts survey of OPEC, oil industry officials and analysts
just released. This is down 900,000 b/d down from January’s 28.97 million b/d.
CAPE TOWN, South Africa - The demand for electricity in Africa is growing rapidly. At the same
time, political and social stability is increasingly making the continent an
attractive investment destination.
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