Energy Company News Directory

Azincourt Uranium Files Technical Report for Peru Projects

Azincourt Uranium Inc. (TSXV:AAZ) has filed an updated NI 43-101 report for its advanced exploration projects in Peru, owned by its 100 percent owned Peruvian subsidiary Minergia SAC. The technical report was prepared to comply with the disclosure requirements of NI 43-101. However, it does not contain any new material information concerning Azincourt's Peruvian properties that has not been disclosed previously.

Marksmen Energy Provides Drilling and Commercial Production Update

Marksmen Energy Inc. (TSXV:MAH) announced that together with joint venture partner Houghton Investments LLC, Marksmen placed the first well drilled in Ohio on production. The well produced 144 barrels of Pennsylvania grade oil during production testing, featuring less than 1 percent water cut with no other fluids or gas. Overall, there was no notable production or pressure drop during the test.

Lara Exploration Signs Heads of Agreement for Sale of Interests

Lara Exploration Ltd. (TSXV:LRA) announced that together with its partner Kiwanda Mines LLC, it has signed a Heads of Agreement for the sale of a number of rights and options held by their Phosphate Alliance and Coal Alliance to Phillips River Mining Limited (ASX:TTR). It is understood that Kiwanda already owns a 19.9 percent interest in Phillips River. Subject to completion of the proposed transaction and a related financing, it plans to use Phillips River to pursue the interests formerly held by its phosphate and coal alliances.

Vale Halts Operations at Australian Coal Mine

Mining.com reported today that Vale (NYSE:VALE) is shutting down its Integra Mine Complex in Australia. The closure will result in 500 job losses, and has come about since Vale says that the operation is not economically feasible, according to Mining.com.

Western Lithium Closes C$9.2 Million Bought Deal Financing

Western Lithium USA Corporation (TSX:WLC,OTCQX:WLCDF) has closed its previously-announced bought deal offering with Dundee Securities Ltd.. The announcement was made on behalf of a syndicate including Haywood Securities Inc., with RK Equity Capital Markets LLC acting as a U.S. Placement Agent. The offering consisted of 15,870,000 units of Western Lithium priced at C$0.58 per unit for aggregate gross proceeds of C$9,204,600 including units issued on the exercise in full under an over-allotment option for the underwriters.