Metals prices are high, markets are strong and Alaska’s producing mines are doing well as 2006 draws to a close. The Red Dog Mine north of Kotzebue holds the banner as the world’s largest zinc mine. Greens Creek Mine near Juneau is the nation’s largest silver mine.

Things aren’t all roses for the minerals industry, however. Almost all of several large mines in development, and even two that have started construction, are facing serious challenges.
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David Thomas, President and CEO of Richards Oil & Gas Limited (the “Corporation”), is pleased to announce the closing of the previously announced private placement, flow through share offering, for $4 million. The proceeds of the offering will be used by the Corporation to aggressively pursue its drilling program in the Ardley coals.

The Corporation has started its testing program on its first horizontal Ardley coal well drilled earlier in the month and expects to have results within 3 to 4 weeks.
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Nacogdoches County

#The Douglass, West (Travis Peak) Field will see the Hayter Well No. 59 drilled by Samson Lone Star. The well will be 7.5 miles northwest of Nacogdoches in the De Los Santos Coy, M & Bros. Survey, A-21. The well will bottom at 12,000 feet and may also be drilled in a wildcat field.

# The Tucker Well No. 1 is being prepared by Dyad Petroleum for drilling 2.5 miles north of Nacogdoches in a wildcat field. The well will reach 12,500 feet in the Hiram Richey Survey, A-463.
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True North Energy Corporation (OTCBB: TNEN), an independent oil and gas exploration company, is pleased to provide an Operation Update on its recent activities.

The Company participated with Bayou City Exploration in the drilling of the Walker Louisiana Properties 18-1 Well, Calcasieu Parish, Louisiana. The well has reached the target depth and has been logged. The well was determined to be non-commercial.
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India says it is considering setting up a common energy regulator for the power, coal, oil and gas sectors.

The process may be started by setting up a hydrocarbon regulator and eventually an all-encompassing super-regulator has been proposed, which would include electricity in its power domain, The Economic Times newspaper said Wednesday.
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Norway’s DNO has increased its stake in oil fields in northern Iraq from 40% to 55% after agreeing with the Kurdistan regional authorities to bear all the costs of production sharing agreements, reported Reuters. DNO is the first western company to begin oil exploration work in the war-torn nation since the US led invasion. The firm signed a deal back in 2004.

Gazprom warns Belarus not to tap Yamal

Russian gas giant Gazprom suspects thieves will attempt to tap the Yamal-Europe pipeline crossing Belarus, but it will be able to identify any unauthorized tapping should it ever happen.

“The Yamal-Europe gas pipeline is a purely export one, it has technological links, but all of them are shut and sealed,”‘ Gazprom spokesman Sergei Kupriyanov said on Russia’s Vesti news channel Thursday.
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A state-run and a private Indian oil firm are in talks to develop together the Tuba oil field in the south of Iraq.

The Financial Express reports the Oil and Natural Gas Corp. and Reliance Industries Ltd., along with Algeria’s Sonatrach, are in preliminary discussions on the move.

The three attempted to obtain a contract for Tuba in 2000.
Iraq has 115 billion barrels of oil reserves, the third-largest in the world.
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California-based Tri-Valley Corp. announced its drilling subsidiary, Great Valley Drilling Company, LLC, purchased a a new drill for drilling geothermal wells.

The drill, which is can go 10,000 feet with 3 ½” drill pipe will be used in Nevada and California. The rig also has a full complement of rolling stock and a 45-ton crane.

We expect to be a significant force in the drilling of geothermal wells in Nevada, a sector of energy business enjoying increasing favor among junior and midsized companies. Read more » »

The chairman and chief executive of oil company Hess Corp. sold 8,500 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Thursday.

In a Form 4 filed with the SEC, John B. Hess reported he sold the shares Wednesday for $50 to $50.38 apiece.
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