Hercules Offshore, Inc. Signs Purchase Agreement to Acquire Assets of Seahawk Drilling

Hercules Offshore, Inc. announced today that it has entered into an Asset Purchase Agreement with Seahawk Drilling, Inc. (Nasdaq:HAWK – News) and its affiliates (collectively “Seahawk”) to purchase 20 jackup rigs and related assets from Seahawk for approximately 22.3 million shares of Hercules Offshore common stock and cash consideration... 

Odyssey Petroleum Corp.: Corporate Update

Odyssey Petroleum Corp.has made a final application to the TSX Venture Exchange and is waiting for its acceptance for reinstatement to trading. Upon confirmation from the Exchange that ODE may resume trading, as announced in ODE’s Press Release dated January 21, 2011 the Company intends to continue preparation of required documentation to consolidate... 

Essex Provides Update on Creditor’s Attempt to Pursue Repayment of Loan

ESSEX OIL LTD.announced on January 14, 2011 that Randsburg International Gold Corp. (“Randsburg”) had initiated steps to appoint Wm. Andrew Campbell as a privately-appointed receiver over the assets of Essex pursuant to a general security agreement granted to Randsburg. Essex had received a letter from Mr. Campbell advising that he had been... 

Essex Creditor Pursues Repayment of Loan

ESSEX OIL LTD. announced on November 8, 2010 that it had received a demand for repayment of a loan of $125,000 plus accrued interest of $32,272 and a Notice of Intention to Enforce Security pursuant to the Bankruptcy and Insolvency Act (Canada) from Randsburg International Gold Corp. (“Randsburg”). Since that time, Essex has been involved... 

Quest Minerals & Mining Announces that Court Sets Date for Confirmation of Subsidiary Gwenco’s Plan to Emerge from Bankruptcy

Quest Minerals & Mining Corp., a Kentucky based operator of energy and mineral related properties, announced that the U.S. Bankruptcy Court for the Eastern District of Kentucky has approved the Second Amended Disclosure Statement and Third Amended Plan of Reorganization for Quest’s subsidiary, Gwenco, Inc. The Court also authorized Gwenco... 

VeraSun Energy Corporation Receives Commitments for Up to $215 Million in Debtor-In-Possession Financing

VeraSun Energy Corporation, one of the nation’s largest ethanol producers, announced today that it had received commitments for up to $215 million in debtor in possession (DIP) financing from certain holders of VeraSun’s 9 7/8% senior secured notes due 2012 and groups of lenders led by AgStar Financial Services. At today’s “first... 

NorthWestern Energy Responds to Montana Public Service Commission Proceedings Regarding Colstrip Unit 4

NorthWestern issued a statement in reaction to initial votes to draft orders regarding dockets related to Colstrip Unit 4. “We disagree and we’re disappointed with the decision related to the bankruptcy tipulation, but we will reserve further comment on the matter until we see the language in the final order,”... 

VeraSun Energy Corporation Launches Chapter 11 Case to Enhance Liquidity While It Reorganizes

VeraSun Energy Corporation, one of the nation’s largest ethanol producers announced today the Company and 24 of its subsidiaries have filed voluntary petitions for relief under chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware to enhance liquidity while they reorganize. The filing was precipitated... 

Calpine to Receive $97 million from Rosetta Resources to Settle Claims

Calpine Corporation announced a settlement with Rosetta Resources, Inc. of all claims related to Calpine’s July 7, 2005 sale of substantially all of its oil and gas business to Rosetta. The settlement provides for a $97 million payment to Calpine from Rosetta and the conveyance of certain residual oil and gas properties by Calpine to Rosetta. This... 

Rosetta Resources Inc. Reaches Settlement With Calpine Corporation and Provides Reserves and Impairment Update

Rosetta Resources Inc., an independent oil and gas company, today announced it has reached an agreement to settle its pending litigation with Calpine Corporation. The agreement will allow Rosetta to complete the transaction by which it purchased Calpine’s oil and gas business on July 7, 2005. The agreement will also extend the contract by which...