Agoracom Blog Home

Posts Tagged ‘#oil’

$AAO.ca Augusta Directors and Officers Sign a Lock-up Agreement for FOX-TEK spin-off

Posted by Er at 12:17 PM on Thursday, November 9th, 2017

 

  • Directors and Officers of the Company have agreed to vote their Shares in support of the spin-off of FOX-TEK
  • Combined they control an aggregate of 83,454,264 common shares
  • Augusta committed to shareholders receiving benefits of spin-off

Toronto, Ontario–(Newsfile Corp. – November 9, 2017) – Further to its press release of September 28, 2017, Augusta Industries Inc. (TSXV: AAO) (the “Company”) would like to announce that the directors and officers of the Company, holding an aggregate of 83,454,264 common shares (the “Shares”) in the capital of the Company, have entered into a lock-up agreement where they have agreed to vote the Shares in support of the spin-off of FOX-TEK Canada Inc.

“The Company continues to work with its advisors to ensure the success of the proposed spin-off of FOX-TEK and to ensure that it is done it a manner that is beneficial to its shareholders,” said Allen Lone, President and Chief Executive Officer of the Company. “The Company is very appreciative of the achievements so far prior to the Annual shareholders general meeting, which will be announced in short order.”

About the Corporation

Through its wholly owned subsidiaries, Marcon International Inc. (“Marcon”) and Fox-Tek Canada Inc. (“Fox-Tek”), the Company provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment.

Fox-Tek provides world leading solutions to various sectors including the oil and gas industry. With non-intrusive technologies including fiber-optic sensors and electric field mapping systems, Fox-Tek is able to accurately measure changes that could negatively impact our client’s operations.

Corporation contact:

Allen Lone, President and C.E.O.
Tel: 905.275.8111, Ext. 226
Email: atlone@fox-tek.com

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

$AAO.ca Augusta Industries Signs an NDA with Natural Resources Canada and a Term Loan Agreement with the Business Development Bank

Posted by Er at 3:04 PM on Monday, August 28th, 2017
Augusta Industries
  • (NDA) between Natural Resources Canada’s research laboratory and FOX TEK Canada Inc., a wholly owned subsidiary of Augusta Industries Inc
  • Allows for evaluation and exploration of confidential information relating to pipeline leak detection technology
  • Augusta subsidiary: Marcon International Inc. (“Marcon”), reached an agreement with the Business Development Bank and Signed a term loan for $250,000.00
Toronto, Ontario–(Newsfile Corp. – August 28, 2017) – Augusta Industries Inc. (TSXV: AAO) is pleased to announce that a two-way non-disclosure agreement (NDA) was signed between Natural Resources Canada’s CanmetMATERIALS research laboratory and FOX TEK Canada Inc., a wholly owned subsidiary of Augusta Industries Inc.

The NDA will permit FOX-TEK and CanmetMATERIALS to evaluate and explore confidential information relating to pipeline leak detection technology in order take the next step towards formalizing a collaborative working relationship between the parties.

CanmetMATERIALS conducts applied research, and develops and deploys technologies, to improve all aspects of producing and using value-added products from minerals and metals in collaboration with industry. Natural Resources Canada is the federal government department that seeks to enhance the responsible development and use of Canada’s natural resources and the competitiveness of Canada’s natural resources products.

We have confidence that this is a great stepping stone towards further collaboration between the Corporation and Natural Resources (” Canada”) stated Allen Lone, President of the Corporation.

Augusta Industries Inc is also pleased to announce that its wholly owned subsidiary, Marcon International Inc. (“Marcon”) has reached an agreement with the Business Development Bank (“Canada”) (“BDC”) and Signed a term loan for $250,000.00 The Loan is to fund future orders and contracts. The Loan is guaranteed by the company’s assets and Allen Lone personally. BDC is a Crown corporation and operates at arm’s length from the sole shareholder, the Government of Canada.

We are pleased with the BDC facility offered and its confidence in Marcon. This will allow the company to finance current and future contracts stated Allen Lone, President of the Corporation.

About the Corporation:

Through its wholly owned subsidiaries, Marcon International Inc. (“Marcon”) and Fox-Tek, the Corporation provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment (Electrical, mechanical and Instrumentation.) In addition to departments and agencies of the U.S. Government, Marcon’s major clients include Sabic Services, BNGC, BAPETCO, Qatar Petroleum, QGas & Qatar Petrochemical.

FOX-TEK develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature. The Corporation’s FT fiber optic sensor and corrosion monitoring systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.

Corporation contact:

Allen Lone, President, CEO, Augusta Industries Inc.
Tel: (905) 275 8111 Ext 226, email: atlone@fox-tek.com

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

This press release contains forward-looking statements based on assumptions, uncertainties and management’s best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation’s periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

$AAO.ca Augusta Announces Results for the Second Quarter and Provides Corporate Update

Posted by Er at 10:21 AM on Monday, August 28th, 2017

Toronto, Ontario–(August 28, 2017) – Augusta Industries Inc. (TSXV: AAO) (the “Corporation”) is pleased to announce that it has released its financial results for the six months ending June 30, 2017.

For the three months ending June 30, 2017, the Corporation had revenues of $697,000, a decrease of $110,000 or 14% as compared to the three months ending June 30, 2016. Gross margins for the three months ending June 30, 2017 was 35% ( $244,000 ) compared to 29% ( $231,000 ) for the three months ending June 30, 2016 due to the change in mix between Macron and FOX-TEK sales during the period.

Total loss from operations for the three months ending June 30, 2017 was $28,000 or a net loss of $0.00 per share compared to a loss of $32,000 or $0.001 per share for the three months ending June 30, 2016. The Corporation was more or less able to maintain its operating expenses in the three months ending June 30, 2017 at $272,000 compared to $263,000 for the same period in 2016. Stock based compensation during the three months ending June 30, 2017 was $63,000 while there were no such expenses during the three months ending June 30, 2016.

Marcon group sales in the three months ending June 30, 2017 was $596 compared to $701 in the three months ending June 30, 2016 – a decrease of $105,000. The sales in FOX-TEK for the three months ending June 30, 2017 were $101,000 compared to $106,000 sales for the three months ending June 30, 2016.

Although the Corporation incurred a loss during the three months ending June 30, 2017, the Corporation expects to build on the contracts signed in 2017 by FOX-TEK and the Pipeline of orders in the Marcon group to reduce the operational losses over the second half of the year.

Consolidated Financial Highlights

June 30, 2017
In $000s
December 31, 2016
In $‘000s
Current Assets 846 1,126
Non-Current Assets 37 42
Total Assets 883 1,168
Current Liabilities 833 1,000
Long term debt 21 31
Total Liabilities 854 1,031
Total Shareholders’ Equity 29 37

 

Three months ended June 30, Six months ended June 30,
  2017
in $’000s
2016 in
$’000s
2017
in $’000s
2016
in $’000s
Sales 697 807 1,576 1,818
Cost of sales (453) (576) (1,132) (1,126)
Gross profit 244 231 444 692
Expenses
Research and development (35) (38) (72) (74)
Selling (11) (12) (18) (19)
General and administrative (226) (213) (459) (448)
Total expenses (272) (263) (549) (541)
(Loss) income before the undernoted (28) (32) (105) 151
Finance costs (4) (4) (7) (8)
Stock based compensation (63) (164)
Foreign exchange gain 11 11 12
Net (loss) income for the period before tax (84) (36) (265) 155
Income tax expense (6)
Net (loss) income for the period after tax (84) (36) (265) 149

 

The financial statements, notes to the financial statements and Management’s Discussion and Analysis for the six months ending June 30, 2017 are available on SEDAR at www.sedar.com.

Corporate Update

FOX-TEK Canada Inc.

The Corporation continues to work closely with its existing clients to ensure their needs are met in order to strengthen and preserve the relationship between the Corporation and its clients while continuing to develop new relationships with new clients. The Corporation’s Vice President of Operations will be visiting various Indian oil and gas companies, both private and state owned, early in the 3rd Quarter of 2017 to explore a number of promising opportunities.

The Corporation has been working to fulfill its engineering and field services obligations in order to meet the requirements of the contract announced on July 10, 2017 with one of the Corporation’s largest and long standing clients in North America.

The Corporation continues to work with The Trans Africa Pipeline project (“T.A.P.”) to provide non-intrusive sensing equipment which will verify the integrity of the pipeline composite at key locations. In addition to the non-intrusive sensing equipment, FOX-TEK will provide optical based sensing technology which would allow T.A.P. to monitor the right of way zones from possible third-party intrusions.

The Corporation’s registration is underway with Petrobras supplier of corrosion detection monitoring systems, optical strain/pressure/temperature sensors & leak detection technology. The Corporation is working closely with FIBOS to explore opportunities to deploy advanced high precision optical strain acquisition systems.

The list below does not include bids to third parties that fall under confidentiality agreements.

a)                 Leak detection system package to a number of our clients in North America.

b)                 Singed an NDA with a Government body to evaluate and explore Confidential information relating to pipeline leak detection technology in order take the next step towards formalizing a collaborative working relationship.

c)                 Corrosion monitoring systems package to one of our largest long standing clients in North America. Survey of the locations is underway as part of the contractors signed and announced July 10 2017. A package will be assembled for new EFM Systems Quotation early in the 3rd Quarter 2017.

d)                 Corrosion monitoring systems package for the East West Pipeline Project JPS1-1 in Saudi Arabia.

e)                 Corrosion monitoring systems package for a UAE firm working on a Dubai Petroleum project.

f)                  A package for a non-intrusive pressure monitoring systems for a tank farm in the Unites States.

g)                 A package for a non-intrusive pressure monitoring systems for the Power Generation Industry

h)                 A technical and commercial bid for the Yibal Kuff Project (YKP) in Oman.


Marcon International

Marcon International has built an impressive pipeline of quotes in the 1st half of 2017. It is witnessing increased bidding activity in both the 1st and 2nd Quarters of 2017. Majority of the larger bids and quotes for Marcon International are time consuming both in preparation of the bidding process and with the client and the end users. Marcon has successfully signed numerous deals year to date and will continue to do so and update the public thru periodic press releases.

About the Corporation:

Through its wholly owned subsidiaries, Marcon International Inc. (“Marcon”) and FOX-TEK, the Corporation provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment (Electrical, mechanical and Instrumentation.) In addition to departments and agencies of the U.S. Government, Marcon’s major clients include Sabic Services, BNGC, BAPETCO, Qatar Petroleum, QGas & Qatar Petrochemical.

FOX-TEK develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature. The Corporation’s FT fiber optic sensor and corrosion monitoring systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.

Corporation contact:

Allen Lone, President, CEO, Augusta Industries Inc.
Tel: (905) 275 -8111 Ext 226 email: atlone@fox-tek.com

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and as neither approved nor disapproved the contents of this press release.

This press release contains forward-looking statements based on assumptions, uncertainties and managements best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporations periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Progress at Lexaria’s Belmont Lake Oil Field

Posted by AGORACOM-JC at 8:41 AM on Wednesday, August 27th, 2014

Kelowna, BC / ACCESSWIRE / August 27, 2014 / Lexaria Corp. (LXRP-OTCQB) (LXX-CNSX) (the “Company” or “Lexaria”) is pleased to report of new developments at the Belmont Lake oil field in Mississippi.

Well PPF-12-7 was drilled in December 2013 but was never put into production due to seasonal delays. Lexaria is pleased to report that field work is currently underway with the goal of placing this well into production as soon as possible. Unless there are unexpected complications, this new well is expected to be in production and cash-flowing within roughly 30 days.

The PPF-12-7 sidewall core analysis indicated 19-20 feet (true vertical depth) of oil bearing pay. Oil and yellow fluorescence was encountered with recovered oil samples grading as high as 33 API. Permeability was very high across the entire sampled area, ranging from 3,100 millidarcies to as high as 4,750 millidarcies. For comparison, sand has a permeability of approx. 1,000 millidarcies. Lexaria’s technical consultants believe the high permeability could be indicative of a positive flow test.

Work is now underway to finish completion of the well and install production equipment and flow lines. A new production facility is planned as part of the overall 12-7 completion process that is separate from the existing production facility that handles production from the pre-existing four Belmont Lake wells. The new production facility will require shorter flow lines, is topographically higher, and less prone to seasonal high water fluctuations, which together should lead to more efficient and reliable full-year production.

More information, including eventual flow test results, will be released when available. Griffin & Griffin Exploration, LLC is the operator of the well which was drilled in Section 41, Township 2 North – Range 4 West of Wilkinson Country, Mississippi.

Lexaria retains a 42% working interest in the producing 12-1 and 12-3 wells; a 50% working interest in the suspended 12-4 and 12-5 wells; and a 13.3% working interest in the 12-7 well. Lexaria is actively reviewing all possible ways of maximizing value from the Belmont Lake oil field assets.

About Lexaria

Lexaria’s shares are quoted in the USA with symbol LXRP and in Canada with symbol LXX. The company searches for projects that could provide potential above-market returns.

To learn more about Lexaria Corp. visit www.lexariaenergy.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Lexaria Corp.

Chris Bunka
Chairman & CEO
(250) 765-6424

FORWARD-LOOKING STATEMENTS

This release includes forward-looking statements. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, weather, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. There can be no assurance that road or site conditions will be favorable for field work; no assurance that well treatments or workovers will have any effect on oil or gas production; no assurance that oil field interconnections will have any measurable impact on oil or gas production or on field operations, and no assurance that any expected new well(s) will be drilled or have any impact on the Company. There can be no assurance that expected oil and gas production will actually materialize; and thus no assurance that expected revenue will actually occur. There is no assurance the Company will have sufficient funds to drill additional wells, or to complete acquisitions or other business transactions. Such forward looking statements also include estimated cash flows, revenue and current and/or future rates of production of oil and natural gas, which can and will fluctuate for a variety of reasons; oil and gas reserve quantities produced by third parties; and intentions to participate in future exploration drilling. Adverse weather conditions including but not limited to surface flooding can delay operations, impact production, and cause reductions in revenue. The Company may not have sufficient expertise to thoroughly exploit its oil and gas properties. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk and there is no assurance that the Company will be able to raise required working capital. Current oil and gas production rates may not be sustainable and targeted production rates may not occur. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company’s public announcements and filings. There is no assurance that the completion of the 12-7 well or the new production facility will be successful or lead to any increase in oil production.

The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

 

SOURCE: Lexaria Corp.

$TSXV rally underway… right on schedule

Posted by justiceisfalse at 4:35 PM on Wednesday, August 22nd, 2012

After the breakout  in precious metals this week,  everyone and their grandmother has come out and said that the $TSXV is going for a ride, I would like to do a little selfless promotion and say I told you so in this post on August 15th.

Now that we have some confirmation and a little more confidence in this turn around, I think we could be looking for the 1400 mark or a ~17% gain from today’s close at 1245.82, as the first target. This may take the next 3-5 months to play out but I am confident it will.

I am also certain that some names will do better than others and I have my own picks that I will most certinly share with everyone in the coming days as well as a cardinal rule to this volatile market.

….. Everyone loves a picture… note MACD crossing zero line and ADX turning up: Bullish!

Seasonal run in the $TSXV coming?

Posted by justiceisfalse at 7:57 AM on Wednesday, August 15th, 2012

A variety of market commentators have come out in the last week or so with opinions that the $TSXV is about to enter it’s regular seasonal bull run which traditionally occurs from September to February. The best empirical data I have seen so far is this piece from Canaccord ( cropped file here: JMW_08142012crop).

When I look at the daily chart, it certainly see selling pressure has waned, but I would like to see a close above the 1211 mark on volume. The weekly chart is also looking to get out of over-sold territory. What will the catalyst be to begin the run?

Continental Geothermal Energy Project Receives US$ 11.5 Million Grant

Posted by AGORACOM-JC at 10:21 AM on Tuesday, May 29th, 2012

Continental Energy Corporation (OTCBB: CPPXF) announced that the Government Of Malaysia, acting through its Public Private Partnership Unit of the Prime Minister’s Department, has awarded a grant of 35 Million Malaysian Ringgit (approximately US$ 11.5 Million) to Tawau Green Energy Sdn. Bhd. The Company owns a 10% stake in TGE.

TGE is developing a geothermal energy resource at a site named Apas Kiri, located in the southern portion of the Malaysian State of Sabah near the city of Tawau. Apas Kiri will be Malaysia’s first geothermal energy development. It is expected to come online by early 2015 with a rated net capacity of 30 Megawatts.

The Company’s CEO, Richard L. McAdoo, who is also the Geotechnical Director of TGE, was present and witnessed the signing. He said afterwards, “This grant reaffirms the strong commitment and firm resolve that both the Government of Malaysia and the Government of Sabah have in solving electrical power generation capacity shortfalls in Sabah utilizing renewable energy sources. This kind of fiscal incentive is essential to any green field renewable energy project’s success. Our recognition of this vital Government support was one of the principle factors in our recent decision to invest in TGE. The management of TGE has done an excellent job in highlighting the benefits of the Apas Kiri geothermal energy development to the people of Sabah and this grant is a remarkable demonstration of the Government’s strong commitment of support for the timely implementation of the project.”

IR Hub / Discussion Forum / Website

Continental Enters Into Partnership For Indonesian CBM

Posted by AGORACOM-JC at 9:33 AM on Tuesday, May 15th, 2012

Continental Enters Into Partnership For Indonesian CBM

Continental Energy Corporation (OTCBB: CPPXF) an emerging international energy company, today announced that it has entered into a Joint Study and Bid Group agreement with CBM Asia Development Corp.

CBM Asia (TSX.V:TCF) (www.cbmasia.com ), a Canadian-listed coalbed methane (“CBM”) company focused solely on the Indonesian CBM industry and with interests in four CBM production sharing contracts (“PSC”) is pursuing new CBM opportunities in Indonesia. Under the agreement, Continental and CBM Asia will jointly and exclusively study selected areas in Indonesia with the objective of identifying geologically justified candidate areas to be jointly pursued as targets of opportunity for direct acquisition of CBM PSCs offered by the Indonesian government through public tenders or through direct proposal tenders conducted under joint study arrangements.

Successful CBM PSC acquisitions shall be shared by Continental and CBM Asia under a pre-agreed joint operating agreement (“JOA”) format in the participating interest proportions 75% CBM Asia and 25% Continental. CBM Asia shall act as operator under the JOA and any CBM PSC and shall pay 100% of the JOA’s CBM PSC general and administrative costs. All CBM PSC acquisition costs and other JOA exploration and drilling costs shall be borne by the parties in proportion to their respective JOA participating interests.

According to MIGAS, the oil and gas division of Indonesia’s Ministry of Energy, gas production from CBM is expected to contribute to the country’s efforts in boosting its declining gas output. Indonesia has the world’s second largest CBM reserves after China, with total potential reserves of 453 trillion cubic feet, twice that of its estimated conventional natural gas resources. In order to promote CBM development, the Indonesian Government has prepared some new incentives and streamlined CBM working area applications. Foremost among these incentives is a favorable production sharing split for the contractor of 45% for CBM gas as opposed to the 30% conventional PSC operators receive for gas. A tax holiday incentive is also being considered for CBM gas.

What is coalbed Methane? *source
The primary energy source of natural gas is a substance called methane (CH4). Coal bed methane (CBM) is simply methane found in coal seams. It is produced by non-traditional means, and therefore, while it is sold and used the same as traditional natural gas, its production is very different. CBM is generated either from a biological process as a result of microbial action or from a thermal process as a result of increasing heat with depth of the coal. Often a coal seam is saturated with water, with methane is held in the coal by water pressure. Currently, natural gas from coal beds accounts for approximately 7% of total natural gas production in the United States.

IR Hub / Corporate Profile / Discussion Forum

Continental Energy (CPPXF:OTCBB) Buys First Stake in a Geothermal Energy Project

Posted by AGORACOM-JC at 10:21 AM on Wednesday, May 9th, 2012

Continental Energy Corporation (OTCBB: CPPXF)  announced that it has purchased a 10% stake in Tawau Green Energy Sdn. Bhd. (“TGE“), a privately held company based in Kota Kinabalu, Sabah, Malaysia.

TGE is a geothermal energy developer. On November 29, 2011, TGE entered into a Renewable Energy Power Purchase Agreement (the “PPA“) with Sabah Electricity Sdn. Bhd. (“SESB“) to supply a capacity of 30 megawatts of electrical power to SESB’s East Coast Sabah power grid. SESB is a utility owned 80% by Tenaga Nasional Berhad, the federally owned electrical generation authority and utility of Malaysia and 20% by the State Government of Sabah. TGE is developing a volcano related geothermal resource known as “Apas Kiri” which is located in southern Sabah near the city of Tawau approximately 100 miles north of Continental’s Bengara-II oil and gas PSC in Indonesia.

TGE will build, own and operate the geothermal power plant and expects to construct it at an estimated total cost of 400 Million Malaysian Ringgit (“MYR“) (approximately US$ 133 Million). TGE plans to commission the plant by the end of 2014 and when completed, it will be Malaysia’s first power plant fired by a geothermal resource.

The PPA provides for a fixed purchase price by SESB of MYR 0.21 per kilowatt hour (approximately US$ 0.07) and a guaranteed off-take of all power the geothermal plant can produce for a fixed term of 21 years from first commercial operation. Over the 21 year life of the PPA, TGE expects to generate about US$ 328 Million in revenues at the PPA price. Additionally, TGE has applied for a Feed-In Tariff incentive from the Malaysian Government which if and when approved, would increase the overall revenue projection.

Richard McAdoo stated, “This acquisition of a 10% stake in TGE is a milestone event for Continental. It represents that all important, first big-step of our planned expansion into the renewable electrical power generation sector in a high growth region. The countries of Southeast Asia are all aggressively pursuing additional electrical power generation as the solid growth of their economies places unprecedented demand on current electrical generation capacity. As a result, clean, sustainable and renewable energy projects are generating major interest from regional financing sources and are attracting substantial investment incentives from the highest levels of government. The rapid and impressive track record of TGE in bringing the Apas Kiri geothermal project from concept to PPA is an excellent example of one of many attractive business opportunities available to innovative renewable and unconventional energy companies in Southeast Asia. We are extremely pleased to be joining TGE in this business venture and we are confident that our expertise in geological resource evaluation, risk management, and drilling will make a major contribution to TGE’s success.”

IR Hub / Discussion Forum

Source: http://agoracom.com/ir/continentalenergy/forums/discussion/topics/531444-continental-buys-first-stake-in-a-geothermal-energy-project/messages/1680203#message

$TSXV Week in Review

Posted by justiceisfalse at 9:53 PM on Saturday, February 18th, 2012

I though we were going to see  sell off into the end of the week as per my risk off post, but it looks like the equity markets are going to push higher and the $TSXV is going to challenge that 1,673 high – caveat: beware of a double top here and that November high. That being said, I remain relatively hesitant to take new speculative long positions but will re-enter into names I know, those that I believe offer a good value proposition. The overall volume on the $TSXV is in decline but we did start this rally on less. Again, ultimately I think 2012 will be a great year, but I would like to see a correction from the  post Xmas rally we have been seeing.

Here is where the $TSXV stands on the daily:

Here is the weekly view…. We need more volume flowing into this market to keep marching forward but this looks very promising for the rest of the year.