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Sasol Coal Mining Company to Build New Coal Mine Exports
Coal mining company Sasol has allocated R3,1-billion for the new export coal mine to replace the depleting Twisdraai operation.
The Thubelisha export coal mine, already under construction, will also supply Sasol’s synfuels factory in Secunda, in Mpumalanga province.
Sasol Mining’s output in the six months to December 31 was up 6%, but its profit of R170-million was [...]
Mining Companies and Mining Industry Make It Plans To Growth
Following QBR’s report on financiers being hit-hard by the economic crisis, IBISWorld reports that mining is yet another of its top-10 industries to feel the repercussions of a market collapse.
Ripper Oil and Gas Inc. second quarter results Reports Oil and Natural Gas Exploration
Ripper Oil and Gas Inc. (”RIP”) reports that for the six months ended September 30, 2008, oil and natural gas revenue net of royalties was $4,660,593 compared to $2,432,302 for the six months ending September 30, 2007 due to higher commodity prices and production volumes. Six month cash flow from operations was $2,240,035 ($0.11 per [...]
UK Gas Producer, BG Group Plc. Propose Bid Origin Energy Ltd. $12 bln
UK gas producer BG Group Plc has made a $12 billion bid approach to Origin Energy Ltd, seeking to bolster its position in the fast-growing Asia-Pacific gas market by securing the Australian utility’s gas reserves.
The companies said BG , valued at around $85 billion, had approached Origin with a proposal of A$14.70 per share in [...]
Double Eagle Petroleum Announces Pricing of Offering of 9.25% Series A Cumulative Preferred Stock
Double Eagle Petroleum Co., an oil and gas exploration and development company, announced today the pricing of 1,400,000 shares, which is an upsizing from the previously announced offering size of 1,200,000 shares, of its 9.25% Series A Cumulative Preferred Stock (”Series A Preferred Stock”), at $25.00 per share, for a total offering size of $35,000,000. [...]
CNX Gas Acquires CBM and Gas Interests from Peabody Energy; CNX Gas to Pay $66.5 million for Approximately 1,037,000 Gross Acres
CNX Gas Corporation has entered into a definitive agreement to acquire the coalbed methane (CBM) and gas interests to approximately 1,037,000 gross acres from Peabody Energy. The transaction will increase CNX Gas’ gross acreage position from 2.5 million gross acres at year-end 2006, to 3.6 million, or an increase of 44%.
The transaction involves three parties. [...]
CNX Gas Leases CBM Acreage from Massey Energy
Deal Encompasses Approximately 20,000 Acres.
CNX Gas Corporation has agreed to lease approximately 20,000 acres in southwestern Pennsylvania from a subsidiary of Massey Energy Company. CNX Gas and the Massey subsidiary will jointly develop the property pursuant to an operating agreement, with CNX Gas serving as the operator and majority working interest partner. The project is [...]
Double Eagle Petroleum Announces Upcoming Events
Double Eagle Petroleum Co. announced today that it will be presenting at the Independent Petroleum Association of America’s Oil and Gas Investment Symposium in New York City on April 23rd.
The company’s presentation at the IPAA will take place at 10:00 am on Monday, April 23rd and will be followed by a breakout session immediately [...]
Chinese Coal Companies to De-Gas Mines
We discussed with Pacific Asia China Energy executive vice president Steve Khan the latest developments in the company’s coal-mine degasification strategy unfolding in China. The company’s subsidiary was recently awarded a multi-million dollar drilling contract with a subsidiary of China’s largest coal miner. Shenhua Group awarded Pacific Asia China Energy its first drilling contract in [...]
