Morgan Creek Energy Corp. reports on the completion drill rig results from its Boggs #1 well, a 4,200′ Ouachita Overthrust test well located in McLennan County, Texas.

Company Geologist, Thomas Markham, working with Schlumberger Inc.’s gas field technical team has established that Schlumberger Oil Field Services perforated gas sands from 3,896′ to 2,830′ overall in MCRE’s Boggs #1. Based on open hole log evaluation and gas shows encountered while drilling, five separate reservoirs were selected for production testing. Read more » »

Uranium Energy Corp has provided its fifth update this year of its progress at its Goliad Project in South Texas.

Since acquiring the Goliad project, the Company has drilled over 360 holes and completed extensive sampling, mapping and reporting by experienced independent and internal technical staff in generating a number of studies for permitting applications. The Company plans to develop an in-situ uranium recovery facility, following the completion of further resource definition and engineering studies, Read more » »

Magellan Petroleum Corporation announced that the Patron 1, an exploration well, the second well drilled under the PEL 93 farmin agreement, spudded in PEL 93 in the Cooper Basin of South Australia on September 20.

Patron 1 is located approximately 14.5 kilometers south of the Worrior oil field and 3.5 kilometers northwest of the Padulla oil field. The Patron prospect is located on the northwest flank of the Dirkala Ridge, adjacent to the Padulla oil field, on a smaller parallel faulted ridge.
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Ultra Petroleum Corp. has sold Sino-American Energy Co. to SPC E&P (China) Pte Ltd. in a stock transaction worth $223 million.

The Houston exploration and production company said Sino-American represented all of its interests in Bohai Bay, China, as well as all of Ultra’s international assets and about 1 percent of its year-end 2006 proved reserves.
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Asia Energy proposed to extract about 10-15 million tons of coal from Phulbari coal field adopting open-pit mining from final depth of 250 to 300 meters by removing 4400 million tons of overburden (rock, sand, mud, soil) covering an area of about 5.2 sqkm throughout the life of the mine i.e. 36 to 38 years. Mining operations will mainly consist of dweatering of aquifer, cleaning and top soil stripping, overburden removal, rehabilitation of mined out areas and overburden dumps. Coal seams (upper and main) ranging in total thickness between 20 and 65 meters are planned to be extracted. Aquifer dewatering will be continuous throughout the operation life of the mine.
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Energy Resources of Australia (ERA) has approved an extension of the operating pit at its Ranger uranium mine, meaning that mining will now continue to 2012. Studies on a further possible mine extension are under way.

The extension will result in a net addition of 4857 tonnes of contained U3O8 to Ranger’s total reserves, bringing the total of stockpiled, proved and probable resources to 51,755 t U3O8. The A$57 million ($50.1 million) extension project will be subject to the normal regulatory process, but approval has been given for preliminary mining to commence. Most of the additional production from the extension is expected to take place in 2011.
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Russia’s Foreign Minister Sergey Lavrov made clear ahead of high-level talks Friday on Iran’s nuclear program that Moscow wants to see a UN agency report on Tehran’s past suspicious nuclear work before considering new sanctions, The Associated Press (AP) reported.

The Russian official, Sergey Lavrov, and Secretary of State Condoleezza Rice exchanged sharp words at a luncheon Wednesday on the subject. Rice pushed for tough new sanctions to pressure Iran to suspend uranium enrichment, and Lavrov said Moscow wanted to give nuclear inspectors time to do their job, according to the Russian minister and US and European officials present. Read more » »

Anaconda Mining Inc. is pleased to announce that it has received the initial payment of US$2,050,000 as per the Definitive Exploration Earn-in Agreement recently signed with Industrias Penoles, S.A. de C.V. (”Penoles”). The payment is in respect of Anaconda’s Carmen copper-gold project in the Inca de Oro District, Chile.

See Anaconda press release dated Sept 12, 2007 at www.anacondamining.com

Under the terms of the agreement, Penoles has the right to earn a 65% interest in the project over a 48-month period by spending a total of US$22 million. Of this amount, US$12 million will comprise cash payments to Anaconda and Inversiones EM DOS Limitada, (”EM DOS”), a private Chilean company, and US$10 million will comprise direct exploration expenditures on the project.
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Russia’s nuclear energy chief hailed on Friday a decision by a U.S. trade court that found sales of Russian uranium in the United States should not be subject to anti-dumping measures. “The U.S. Court of International Trade made a kind of present to our nuclear sector when its judge ruled that uranium enrichment is a service rather than goods, which means it cannot be the subject to anti-dumping investigation,” Sergei Kiriyenko, head of Russia’s atomic energy agency Rosatom, told a briefing.

Anti-dumping procedures against Russia were started in 1991-1992 after Russian companies flooded the U.S. market with nuclear materials.
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Signing a memorandum of understanding was just the latest step in creating a mutually beneficial relationship between a First Nation and two mining exploration companies.

Wahgoshig First Nation Chief Dave Babin welcomed president and CEO of Sage Gold Inc. Nigel Lees and CEO and director of Sheltered Oak Resources Inc. Robert Hanson to his band office Thursday.

The three men signed a memorandum of understanding that sets the stage for all three parties to move ahead with drilling on the Kerrs gold property near the Town of Matheson.
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