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Inflation
Iraq’s high rate of inflation is a serious
obstacle to progress under the IMF’s Stand-
By Arrangement (SBA). Sustained progress
under the SBA is necessary to secure donor
support for the International Compact, and
failure to meet the terms of the SBA would
complicate negotiations for a new IMF
program in 2007. Satisfactory progress under
an IMF program for three years is required
for the final 20% of Paris Club debt relief.
High inflation—a result of disruptions in the
supply of food and fuel, price deregulation,
spending by the Government of Iraq and
donors, and growth of the money supply—is
threatening progress toward economic stability
in Iraq. Unlike in previous years, when
inflation was confined mainly to rents, fuel,
and transport, prices are now increasing
rapidly in all sectors. According to Iraq’s
Central Organization for Statistics and
Information Technology, the annual inflation
rate from October 2005 to October 2006 was
53%. It is widely believed that the official
inflation rate underestimates the actual
inflation rate.
Runaway inflation exacerbates the government’s
decline in purchasing power and
increases wage and pension demands, placing
added pressure on the budget.
Over the past three months, the Central Bank
of Iraq has taken steps to try to stem inflation.
• The bank raised interest rates from 7% to
12%, but the weak banking sector and the
significant influence of the dollar rendered
this move largely symbolic.
• The bank also slowly appreciated the
dinar. The exchange rate is now approximately
1,455 Iraqi dinar to US$1. However,
a much faster rate of appreciation
will be necessary to fight inflation. By
increasing the dinar’s value, the Central
Bank of Iraq could encourage more Iraqis
to hold onto dinars as opposed to converting
them to dollars. Appreciation ofthe dinar would also reduce the dinar value
of the Government of Iraq’s dollardenominated
revenue (more than 90% of
revenues is from oil), but, as appreciation
succeeds in controlling inflation, the government
would require fewer dinars to pay
for its expenditures. Appreciation of the
dinar would not harm the competitiveness
of Iraqi exports—non-oil exports are
negligible—but it could impair the ability
of domestic industries like agriculture to
compete with foreign imports.
However, the bank has been reluctant to take
the necessary stronger measures.
http://www.defenselink.mil/pubs/pdfs/9010Quarterly-Report-20061216.pdf
http://www.defenselink.mil/home/features/Iraq_Reports/Index.html
Bush Considers Economic Package for Iraq
http://www.washingtonpost.com/wp-dyn/content/article/2006/12/28/AR2006122800094.html?nav=rss_busines...
Iraqi leaders weigh Saddam execution
Source: Ex-leader to be hanged by 6 a.m. Baghdad time; late appeal denied
http://www.msnbc.msn.com/id/16389128/
2007 is the
Year of the "PIG"
Prosperity to all!!!!!!!!!
Happy New Year Larry!
Same to you Red!
COSTA Energy Inc.
TSX - V: COE
December 29, 2006
COSTA Closes $1.5 Million Financing
CALGARY - COSTA Energy Inc. announced today that it has closed the previously announced financing and has issued 9,090,910 Common Units (as defined below) at $0.11 per unit and 3,703,706 Flow-Through Units (as defined below) at $0.135 per unit on a private placement basis. Each Common Unit consists of one common share and one common share purchase warrant (a "Warrant"). Each Flow-Through Unit consists of one common share, issued on a "flow-through basis" for the purposes of the Income Tax Act (Canada), and one Warrant. Each Warrant will entitle the holder thereof to purchase one common share at a price of $0.145 per share until March 31, 2008. Gross proceeds from the issuance of the Common Units and Flow-Through Units are $1.5 million, and will be used to fund COSTA's ongoing exploration program, for working capital purposes and to repay obligations under certain outstanding debentures.
With this new financing, COSTA now has 24,403,576 common shares, 2,350,151 non voting shares, 12,794,616 warrants and 974,395 options to acquire an equivalent number of common shares issued and outstanding. MHI Energy Partners and/or their associates and affiliates (collectively, "MHI") now hold 6,669,557 common shares, 1,771,067 non-voting shares, 5,003,182 warrants and 53,970 options (approximately 30.7% of the issued and outstanding common shares (excluding non-voting shares) on a diluted basis, and approximately 33.3% of the issued and outstanding shares on a diluted basis).
The Company's board of directors is now comprised of Messrs. Curtis D. Bartlett, Terry D. Brooker, Timothy S. Granger, Ron D. Miller and Ronald E. Newman. The officers of the company will be Mr. Terry D. Brooker as President and Chief Executive Officer, and Mr. David F. Campbell as Vice President and Chief Financial Officer.
The common shares and Warrants issued pursuant to this private placement are subject to a four month statutory hold period. A commission of 5.0% of the gross proceeds was paid to registered dealers who arranged for subscribers other than MHI and its affiliates and associates.
This new funding will significantly improve the Company's financial position and allow a continuing development program to grow the Company's production base. At the same time, the Company has taken significant steps to reduce its general and administrative costs and to create a positive cash flow from the current production. The initial drilling focus will be at Veteran, subject to continuing positive production results from a new well, and a new horizontal development of an existing field at Macoun, Saskatchewan.
COSTA is a Calgary based junior oil and gas company, which explores for, develops, produces, and sells crude oil, natural gas liquids and natural gas in Alberta, British Columbia and Saskatchewan.
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.
Forward Looking Statements: Certain information regarding COSTA in this news release including management's assessment of future plans and operations and the timing thereof, may constitute forward-looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources. As a consequence, COSTA's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or, if any of them do so, what benefits COSTA will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhausted. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and COSTA does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Requests for shareholder information should be directed to:
Mr. Terry D. Brooker, Vice President and Chief Operating Officer
COSTA Energy Inc.
(403) 206-3430
Email: tbrooker@costaenergy.com
Railpower rises on locomotive approval
Friday, December 29, 2006
MONTREAL — Stock in Railpower Technologies Corp. rocketed up 32 per cent more Friday after the U.S. Environmental Protection Agency certified its three-engine road switcher locomotive.
The shares were up 46 cents at $1.83 on the Toronto Stock Exchange — up from 58 cents before the announcement on Wednesday, but down from over $6 a year ago.
The regulatory clearance was a condition for payment in a contract signed with a major customer in November. Had the company not received approval, the customer was entitled to end the contract and receive a full refund on locomotives already delivered.
The model RP20-BD is a multi-purpose locomotive for yard and road switching that runs on either batteries or engines.
Fuel savings can be as high as 35 per cent and reduction in nitrogen oxide and particulate emissions range up to 80 per cent, according to Railpower, which announced the EPA approval Wednesday.
Montreal-based Railpower announced earlier this month that it reached an agreement with a customer regarding the cancellation of an order for 35 of its hybrid Green Goat locomotives.
Under that agreement, the customer agreed to return the three Green Goat locomotives that had been delivered and Railpower would make them available for sale.
I spread my Christmas cheer evenly.
Nope can't see it.
OK. You're going to have to change it.
Production Enhancement Group, Inc.
TSX: WIS
December 29, 2006
PEG announces joint venture for Mexico
HOUSTON, TX and CALGARY - Production Enhancement Group, Inc. announced today that it has signed a term sheet with Grupo Creatica, S.A. de C.V. ("Grupo Creatica"), a Mexican company with operations in contract drilling services and oilfield exploration and production, to form a joint venture to deploy PEG's patented WISE(TM) multifunction coil tubing well intervention systems on an exclusive basis in Mexico. The joint venture company, which will be 51% owned by Grupo Creatica and 49% owned by PEG, will market, sell and support well intervention systems and services under PEG's trademarked WISE(TM) brand. The first step in an overall strategy for the Mexico market will be to immediately begin constructing six WISE coiled tubing units. These units will be funded by or through Grupo Creatica, with no funding or credit support from PEG. The units will be custom-configured for each target location and will feature the latest WISE patented technology, including site-generated nitrogen capabilities.
Philip Crawford, PEG's Chief Executive Officer, noted that the planned joint venture is another step in PEG's international growth strategy: "This joint venture, the second we have announced in the fourth quarter, continues our plan to deploy WISE(TM) technology in major energy markets around the world by partnering with successful energy services organizations in key international markets. Grupo Creatica is well established in Mexico, and our partnership with them enables us to quickly move our patented WISE coiled tubing technology into that important market."
Gerardo del Valle, Vice President of Grupo Creatica, stated: "Based on a thorough review of PEG's WISE(TM) technology, we determined that these unique multifunction well intervention systems are ideally suited for the diverse terrain encountered throughout Mexico and, being self-contained, can reach remote areas of the country. We are looking forward to rapidly expanding into the onshore and offshore markets in Mexico."
About Production Enhancement Group
Production Enhancement Group, a Houston-based energy services company incorporated in Alberta, Canada, trades on the TSX under the symbol WIS. PEG owns patented WISE(TM) multifunction coiled tubing technologies and markets a full range of coiled tubing and pressure pumping services.
WISE is a trademark of Production Enhancement Group, Inc.
About Grupo Creatica, S.A. de C.V.
Grupo Creatica, S.A. de C.V. is a private holding company established in Mexico, with operations in numerous industries, including contract drilling services for geothermal fields and exploration and production in oilfields outside of Mexico. The company wants to expand its operations by offering oilfield services in Mexico through joint ventures such as the one described in this release.
Disclaimers
Reload, Couple of free plays.
09 12 15 22 31 33 34
01 10 15 20 21 29 35
05 25 26 31 32 34 47
12 13 14 24 35 42 46
10 16 26 34 36 39 42
05 16 20 24 28 31 33
02 44 68 73
01 03 04 10 13 20 25
06 09 17 27 36 39 46
08 15 19 31 40 45 46
31 63 67 88
06 07 09 14 18 25 40
02 09 12 21 31 43 45
03 04 06 11 18 20 25
05 18 20 22 30 31 43
03 05 10 13 18 38 39
09 13 28 38 41 45 46
03 16 48 73
Are we gonna hit the big one?
Me.
Bottoms up.
You're Welcome Susan.
Which one of you guys is it?
Ya. Lots of snow in the interior. From hope to the AB border.
Some good, Some bad and Some Ugly.
What are you up to these days?
Loks to me like somebody is realy getting into the wind farming in Southern AB. Seems like a lot more windmills up.
Lots of signs in BC that say "No to U mining"
Even a few that say say no to coal.
Merry Christmas Susan!
Merry Christmas Larry!
Merry Christmas Novo!
Merry Christmas Rocketred!
Merry Christmas KD!
Merry Christmas T!
Merry Christmas Ed.
Merry Christmas John.
Winstar Resources Ltd.
WIX-TSX-V
December 21, 2006
Winstar Releases Updated Production Data from its Southern Tunisian Chouech Es Saida #5 and Chouech Es Saida #7 Wells
CALGARY Winstar Resources Ltd. today updated its production data released on November 29, 2006 from its 100% net working interest, operated Chouech Es Saida #5 well (CS #5) recompletion and released new production data from its workover at its 100% net working interest, operated Chouech Es Saida #7 well (CS #7) in Southern Tunisia.
Subsequent to the November 29, 2006 news release, at CS #5 the Company removed obstructions in the production tubing or flow string and conducted a production test over the zone which had recorded a preliminary stabilized flow rate of 130 cubic meters per day ("m3/d") or 820 barrels of oil per day ("bopd") on a 14/16 inch choke. While recovering the perforating debris and other downhole obstructions from the tubing, the CS #5 well was produced at flow rates ranging from 100 to 150 m3/d or 629 to 943 bopd, to the central production facility at Winstars (100% working interest) Chouech Es Saida Concession.
Upon the successful termination of fishing operations, downhole pressure gauges were installed and a production test of the zone within the Triassic Trias Argilo-Greseux Inferieur (TAGI) Sandstone Formation was conducted. During that production test the well recorded a final stabilized rate of 146 m3/d or 918 bopd, of 41 degree API gravity crude with no trace of water production, on an 18/64 inch choke with a flowing wellhead pressure of 95 bars or 1380 pounds per square inch (psi).
The well was subsequently shut in to acquire build-up pressure measurements. The final analysis of the down hole pressure data is expected in January 2007.
Following the shut-in period the CS #5 well was re-started and is currently flowing to the central production facility at a stable rate of 163 m3/d or 1025 bopd with associated gas production of approximately 30,000 m3/d or 1,064 thousand cubic feet per day (mcf/d).
Winstar is producing and selling crude oil from Chouech Es Saida at a corporate record rate and is currently in negotiations with the Tunisian Company of Electricity and Gas (Societe Tunisienne de lElectriciti et du Gaz or STEG) to permit natural gas sales. The engineering and sourcing of key equipment to allow gas sales is underway. The Company is hopeful that it will be begin producing and selling approximately 100 to 200 barrels of oil equivalent (boepd) of natural gas into the Tunisian domestic market sometime in February or March 2007.
Natural gas and oil are anticipated to be sold from the Chouech Es Saida Concession at prices comparable to the Company average price received during the nine months ended September 30, 2006 in Tunisia being $72.48 per barrel of oil and $7.68 per Mcf of natural gas.
On December 15, 2006, the Company finished reactivating the CS #7 well by installing a new and larger down hole electric pump and cable. The well has been shut-in since September 21, 2006 when the original, smaller down hole pump failed. Prior to that failure the well was producing 24 m3/d or 150 bopd.
The CS #7 well with larger pump capacity is now capable of producing an estimated 41 m3/d or 258 bopd. Further to reactivation of CS #7, the well had to be shut-in, due to transportation limitations along the Companys 100% working interest and operated 80 kilometre 6 inch sales or export pipeline connecting Chouech Es Saida north to El Borma. The Company is replacing three small triplex pumps capable of delivering a maximum of 1069 bopd with one large triplex pump with a design capacity of 3,000 bopd. This modification is expected by year end 2006, at which time the CS #7 well will once again commence production.
Winstar is currently producing (and selling) some 2,350 boepd (Canada 550 boepd, Tunisia 1,200 boepd and Hungary 600 boepd) and anticipates it will exit the year at 2,900 boepd (Canada 500 boepd , Tunisia 1,700 boepd and Hungary 700 boepd).
About Winstar
Winstar Resources Ltd. is Calgary-based junior oil and gas company, which explores for, develops, produces, and sells crude oil, natural gas liquids and natural gas in (Alberta) Canada, Tunisia and Hungary. Winstar's common shares trade on the TSX Venture Exchange under the symbol WIX.
BOE
References herein to boe mean barrels of oil equivalent derived by converting gas to oil in the ratio of six thousand cubic feet (Mcf) of gas to one barrel (bbl) of oil. Boe may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf:1 bbl is based upon an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
COSTA Energy Inc.
TSX - V: COE
December 21, 2006
COSTA Announces Alderson Production Restriction
CALGARY COSTA Energy Inc. announces that it has received notice dated December 20, 2006, from Imperial Oil Resources ("Imperial") that effective February 1, 2007, it intends to cease accepting gas from COSTA for custom processing at Imperial's Redcliff North gas plant.
This would shut in production of approximately 345 mcfd net from COSTA's Alderson field. This represents about 35% of COSTA's current net production of 175 boepd. For the 9 months ended September 30, 2006, the Company's Alderson production averaged about 340 mcfd, equivalent to 57 boepd or 41% of the Company's total average production of 139 boepd. Due to the low operating costs of this shallow gas field, Alderson revenue after royalties and operating costs was approximately $383,000, representing 57% of a total net revenue of $669,000 for the period.
Imperial has committed "to work with (COSTA) to minimize disruptions to (our) Alderson production to the extent reasonably possible" and COSTA hopes that an equitable solution can be found. COSTA has begun to explore alternatives to allow Alderson to continue production. These range from alternate custom processing arrangements to regulatory support to construction of a new COSTA compressor station; however, most of these alternatives would likely still involve a significant shut-in time.
This notice from Imperial has the potential to significantly affect the Company and therefore is a material event that could impact the previously announced and yet to close $1.5 million financing.
COSTA is aCalgary based junior oil and gas company, which explores for, develops, produces, and sells crude oil, natural gas liquids and natural gas in Alberta, British Columbia and Saskatchewan.
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.
Oil Equivalent Conversion: Barrel of oil equivalent ("boe") amounts have been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel of oil and natural gas liquids equivalent. This ratio is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead or point of sale. Barrel of oil equivalents may be misleading, particularly if used in isolation.
Forward Looking Statements: Certain information regarding COSTA in this news release including management's assessment of future plans and operations and the timing thereof, may constitute forward-looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources. As a consequence, COSTA's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or, if any of them do so, what benefits COSTA will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhausted. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and COSTA does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Requests for shareholder information should be directed to:
Mr. Terry D. Brooker
Vice President and Chief Operating Officer
COSTA Energy Inc.
(403) 206-3430
Email: tbrooker@costaenergy.com
TSX Venture Exchange Most Actives For Thurs Dec 21
16:52 EST Thursday, December 21, 2006
Falcon Oil & Gas Ltd. 9,357,606 3.550 off 0.190
Noront Resources Ltd. 4,875,564 0.870 up 0.130
Independent Nickel Corp. 4,528,322 0.670 up 0.330
Crossfire Holdings Inc. 3,426,720 0.730
Manicouagan Minrals Inc. 3,383,667 0.230 up 0.050
Trigon Uranium Corp. 2,360,101 1.170 up 0.060
WebTech Wireless Inc. 2,299,191 5.550 up 0.450
Blue Note Mining Inc. 2,275,406 0.450 off 0.020
UrAsia Energy Ltd. 1,981,694 4.850 off 0.150
Universal Energy Corp. 1,942,500 0.090 up 0.030
Portland, Oregon – December 21, 2006 – Torrent Energy Corporation (the “Company”) (OTCBB: TREN) is pleased to announce the following developments from its wholly owned operating subsidiaries, Methane Energy Corp. (“Methane”) and Cascadia Energy Corp. (Cascadia).
Methane is progressing with its Westport drilling program and to date has successfully drilled five wells, MEC 9-21-26-13, MEC 1-21-26-13, MEC 15-21- 26-13, MEC 16-16-26-13 and MEC 13-15-26-13. All wells were logged and cased and each has encountered numerous gassy coal seams consistent with the wells’ individual geological prognosis. On December 9, 2006, completion operations commenced on the MEC 13-15 and MEC 15-21 and each well was perforated over the total coal package in each well then shut-in for pressure build-up.
Planned operations are to perforate the coal seams in the remaining 3 wells during the first week of January followed up with injection fall-off testing on all five wells. The technical information gathered from this testing program will be utilized to design appropriate proppant stimulations anticipated to occur in March when equipment becomes available to us.
Injectivity testing will also occur on several of these wells in a fractured basalt section to determine suitability for use as a water disposal zone.
Drilling operations have been put on hold at this time to allow us to properly assess the potential of the initial five Westport wells. The Roll’n Rig #14 has been racked locally in Coos Bay and remains available for future work. However, the Methane Operations team has determined that a smaller rig would be more appropriate to drill the remaining wells in the program, therefore requests for bids have been issued and we expect to identify and engage a new drilling contractor early in January. Currently it appears there is better rig availability in the North American petroleum industry and we have identified a number of smaller, more efficient rig types which will allow us to drill the remaining wells faster and for less cost.
Cascade has now identified its initial drilling prospects in the Chehalis basin in the State of Washington and has filed the appropriate drilling permits for the initial three wells. Approvals and commencement of drilling operations is expected to occur in the first quarter of 2007.
Torrent’s President & CEO, John Carlson, states “We appreciate the assistance Roll’n Oilfield Services provided since the inception of our drilling program in Coos Bay. It allowed us to drill wells during an overheated period of activity in the North American petroleum industry when rig availability was limited. However, it is time to utilize more modern and efficient equipment specifically designed to drill coalbed methane wells less than 3,000 feet in depth. We anticipate an overall reduction in our drilling related capital expenditure ultimately reducing our finding and developing costs and improving the project rates of return.“
Emerald Bay provides operational update; additional wells adding to production and new wells to be drilled
12:46 EST Thursday, December 21, 2006
CALGARY, Dec. 21 /CNW/ - Emerald Bay Energy Inc. (TSX Venture: EBY) is pleased to report on recent exploration activities.
GILBY
The Company has successfully completed a farm-out and participation agreement to drill a 53% before payout (29% after payout) working interest test well in section 13-40-1 W4. This prospect has multi-zone potential that includes the Edmonton Sand, Belly River, Basal Belly River, Glauconite, Ostracod and Ellerslie formations. The Company has commenced drilling operations to set surface casing, then take a short break for Christmas, and resume operations on December 27th.
SOUTHWEST SASKATCHEWAN
Completion operations are scheduled to begin this week targeting the Mississippian Madison Group in test well No. 1 in Southwest Saskatchewan. The well will be perforated, with production testing to continue for 72 hours. Test well No. 2, has been licensed and drilling operations are expected to begin February 2, 2007.
KELSEY
The Company is in the process of finalizing processing and transportation agreements in preparation for tie-in operations for 8-13-44-18 W4. Engineering drawings are complete and pipeline construction is expected to begin by the end of the month.
DORENLEE
Emerald Bay has recently completed the pipeline survey in preparation to tie-in 14-9-43-20 W4. Transportation and processing agreements are being negotiated with a completion date expected to be the 1st or second week of January. Pipeline construction would commence immediately thereafter and tie-in operations concluded by the end of January.
CLIVE/JOFFRE ALBERTA
Completion operations are expected to be completed by the end of this month on the non-operated well at 3-21-39-25 W4. The logs identified potential in the Edmonton Sand and Belly River formations.
Well licensing operations are underway for a Basal Belly River well on company lands at 16-16-39-24 W4. This will become part of The Company's Q1 2007 CAPEX program.
SOUTH TEXAS
The Company recently completed fracture stimulation operations on the 604-1 well in Maverick County, Texas. Testing operations are expected to continue through the end of this month.
TWINING
The Company has completed its seismic operation over lands recently acquired in the Twining area. Processing and analysis is anticipated to be completed by mid-January. This project would then become part of our 2007 CAPEX program.
EDSON, ALBERTA
Emerald Bay continues to review its options on the Encana operated Edson 4-18-51-16 W5 in which it has a 20% working interest. At this time, the Edson property will not be part of the 2006 CAPEX program. The Scollard Coal formation is also being evaluated for up-hole potential in 2007. The Company participates in approximately 16 wells in the Edson area.
Emerald Bay's geological, engineering and land team continues to evaluate other development and exploration prospects in Central and Southern Alberta, as well as South Texas.
Emerald Bay Energy Inc., based in Calgary, is a junior oil and gas producer with production properties in Western Canada. The common shares of Emerald Bay trade on the TSX Venture Exchange under the symbol "EBY". Please visit our website at www.emeraldbayenergy.com.
If you would like to receive press releases via email please contact catarina@chfir.com. Please specify "Emerald Bay press releases" in the subject line.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
BOEs may be misleading, particularly if used in isolation. A BOE
conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not
represent a value equivalency at the wellhead.
-------------------------------------------------------------------------
Forward-Looking Statements
--------------------------
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Information inferred from the interpretation of drilling results may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a well is actually developed. Forward-looking statements in this document include statements regarding the Company's exploration, drilling and development plans, the Company's expectations regarding the timing and success of such programs. Factors that could cause or contribute to such differences include, but are not limited to, fluctuations in the prices of oil and gas, uncertainties inherent in estimating quantities of oil and gas reserves and projecting future rates of production and timing of development activities, competition, operating risks, acquisition risks, liquidity and capital requirements, the effects of governmental regulation, adverse changes in the market for the Company's oil and gas production, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission.
%SEDAR: 00008937E
For further information: Shelby D. Beattie, President, by telephone at (403) 262-6000 or by email at info@ebyinc.com or Linda Armstrong, Vice President, CHF Investor Relations, (416) 868-1079, Ext 229, email Linda@chfir.com
Cameco Updates Remediation Of Cigar Lake Project
12:10 EST Thursday, December 21, 2006
DOW JONES NEWSWIRES
Cameco Corp. (CCJ) is proceeding with a phased plan to restore the underground workings at Cigar Lake after a water inflow on Oct. 23 flooded the project.
The first phase of the remediation plan involves drilling holes down to the source of the inflow. Concrete will be pumped through the drill holes and sealed off with grout. Subsequent phases include removing water from underground areas, ground freezing in the area of the inflow, restoring other underground areas and resumption of mine development.
Drill crews completed one hole in the area of the rockfall and nearly completed another hole before leaving for their Christmas break. About 18 holes are now planned including four for mine dewatering. The crews will resume working on Dec. 27 working around the clock, seven days a week.
Cameco, with its head office in Saskatoon, Sask., is the world's largest uranium producer.
-Wendy Tsau; 416-306-2100; AskNewswires@dowjones.com
(END) Dow Jones Newswires
12-21-06 1210ET
Copyright (c) 2006 Dow Jones & Company, Inc.
I think that he had everyone fooled even himself.
ROTFLMAO!!!!!!!!!!!!
He may have looked evil... But deep down inside he was full of love.
Hi Merry Christmas Gary!
How's the weather??
Snow ? Shine?
Is that Uptown or what?
I think cleaning lady comes too
Teck Cominco Limited Sets Odd-Lot Program
09:26 EST Thursday, December 21, 2006
DOW JONES NEWSWIRES
Teck Cominco Ltd. (TCK) plans an odd-lot buyback program starting Thursday and expiring Feb. 28.
Sharheolders with 99 or fewer Class A or Class B shares as of Dec. 20 can sell their shares without incurring any brokerage commission.
Teck Cominco is a Vancouver-based mining company.
-Judy McKinnon; 416-306-2100; AskNewswires@dowjones.com
(END) Dow Jones Newswires
12-21-06 0926ET
Copyright (c) 2006 Dow Jones & Company, Inc.