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Deutsche Rohstoff: Tekton signs Contract for Sale of Windsor-Project for USD 200 Million

  • Option for additional USD 60 million
  • New US-oil project in preparation

Tekton Windsor LLC, 100% subsidiary of Tekton Energy, yesterday signed a contract, in which the company sells its main assets of the Windsor project in and around Windsor/Colorado. The final validity of the contract is still subject to Due Diligence by the purchaser, which must be completed by 30th May 2014 at the latest (Closing).

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Strata-X Commences Drilling on Maverick Oil Project

  • Commenced drilling operations on the Cinco Saus Creek #1 well
  • Company expects to core approximately 600 feet of Eagle Ford and Buda Formation

Strata-X Energy Ltd. (TSX-V:SXE) (ASX:SXA) announce that the Company started drilling operations on the Cinco Saus Creek #1 well late on December 27. Cinco Saus Creek #1 is the Company’s first appraisal well in the Maverick Oil Project.

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Westmoreland Coal Reports Second Quarter 2013 Results

Westmoreland Coal Company (NasdaqGM:WLB) reported its second quarter results for 2013.

Highlights:

  • Q2 2013 revenues grew 22.4% to $162.5 million compared with $132.8 million in Q2 2012
  • Q2 2013 Adjusted EBITDA increased 119.2% to $32.0 million compared with $14.6 million in Q2 2012
  • Adjusted EBITDA for the twelve months ended June 30, 2013 increased to $121.2 million compared with$77.5 million for the twelve months ended June 30, 2012.
  • Q2 2013 net loss applicable to common shareholders decreased to $0.6 million from a loss of $12.4 million in Q2 2012
  • Net leverage ratio decreased to 2.47
  • 2013 Adjusted EBITDA and capital spending guidance reiterated
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Midway Receives a Key Permit for Pan Gold Project, White Pine county, Nevada

Midway Gold Corp. announces receipt of a key permit required for production at its Pan Gold Project in Nevada. A Water Pollution Control Permit has been received from the State of Nevada. This announcement closely follows publication of the Draft Environmental Impact Statement (DEIS). The Pan project is on track to start construction in late 2013 with production targeted for mid-2014.

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