Allied Energy Begins Drilling Operations in the Historic “Giddings Field”
Allied Energy, Inc. (PINKSHEETS: AGGI) announced today that the Company, through its wholly owned subsidiary, Allied Operating Texas, LLC, has begun drilling its first horizontal location in the “Giddings Field Area” of East Texas.
The proposed horizontal location is a direct PUD, Proved Undeveloped, offset location to the Apache Corporation Butaud #1 Well located in Grimes County, Texas that was completed in March 2009 and tested at 4,833 MCFD (thousand cubic feet per day) of gas and 30 BC (barrels of condensate/oil) as reported to the Texas Railroad Commission. As per it’s production records, the Butaud #1 continues to produce from a single lateral at an estimated and reported daily rate approaching ~ 2,200 MCFD of gas and 25 BC.
The proposed plans for an initial horizontal test well are to drill a long length single lateral and/or two (2) opposing horizontal laterals. Although risks do exist and the Company can make no assurances as it relates to production or reserves, this long length single lateral and/or dual-lateral strategy could dramatically enhance reserve and production potential for this location. Read more
BacTech Appoints Goldco Director
BacTech Mining Corporation (”BacTech” or the “Company”)(TSX VENTURE:BM) is pleased to announce that Mark Burridge has agreed, in principle, to become a Director of the new mining company (”Goldco”) being spun out from BacTech, upon its establishment. Up until the spin out, Mr. Burridge will assume the title of Chairman of the gold subsidiary.
Mr. Burridge will work closely with existing BacTech personnel to oversee the corporate and project development activities required to establish Goldco as a recognized industry participant. Other key BacTech personnel involved with Goldco include Ross Orr, President & CEO and another intended Director of Goldco, Lou Nagy, Chief Financial Officer, Dr. Paul Miller, Vice President Technology & Engineering, Dr. Junxiang Guo, Vice President Metallurgy, and Peter Secker, Director of Projects and Engineering. Read more
Kent Exploration Inc.: Diamond Drill Program Commences at Gnaweeda Gold Project
Kent Exploration Inc. (the “Company” or “Kent”) (TSX VENTURE:KEX) is pleased to announce that through its wholly owned subsidiaries, Archean Star Resources Australia Pty Ltd and Archean Star Resources Inc. (together “Archean”), it has commenced the first phase of a two-phase diamond drill program on the Gnaweeda Gold Project in the northern Murchison Province of Western Australia.
This first-phase drill program consists of eight HQ diamond drill holes totalling approximately 1,500 meters, of which five holes totalling approximately 1,100 meters are to be drilled on the Turnberry Zone and three holes of approximately 450 meters are to be drilled at the Bunarra Zone. Since 2006, Teck Australia Pty Ltd (”Teck”) conducted limited Reverse Circulation drilling (<300m deep) that returned significant gold intersections on the Turnberry zone at depths ranging from 17m to 280m, including; 4m at 17.7g/t Au, (including a 1m intersection of 59.27g/t Au), 5m at 13.49g/t Au, 5m at 11.64g/t Au, 3m at 11.87g/t Au, 3m at 4.85g/t Au and 3m at 4.39g/t Au. Read more
VMS Announces Appointment of Dr. Mark Fedikow as VP Exploration
VMS Ventures Inc. (TSX VENTURE: VMS) (the “Company”) is pleased to announce the appointment of Dr. Mark Fedikow as Vice President Exploration. Dr. Fedikow also Vice President of Technical Services for the Company.
Dr. Fedikow was appointed Director in April 2008 and has been directly involved in all aspects of exploration of the Company since then. Mark has 34 years experience as a geochemical exploration of mineral exploration and mineral deposits geologist in the private sector and government geological surveys. He operates his own consulting firm since 2002. In 2001 he was recipient of the Provincial Geologists Medal, a Canadian national award outstanding geoscientific achievement. He has published numerous articles on mineral deposits and their geochemical expressions in rock, soil environments and vegetation sampling. In particular, it has implemented a process of Mobile Metal Ion (MMI) in exploration programs for different types of mineral deposits, including a sulphide large metal, a layer of gold, copper porphyry and magmatic nickel-copper-PGE in the world. more..
Environmental Impacts of Burning Coal By Michael Duggan
The burning of coal is the most polluting method for producing electricity and the environmental impacts are considerable. Besides the production of greenhouse gases by burning coal, there are also many other harmful compounds released during this process. But environmental problems are not limited to the burning process. The extraction, transportation, storage and disposal of coal all create additional environmental issues.
There is however differences in the amount of pollution caused by burning coal depending on the type of technology utilised. New coal-fired power station technology is emerging with the ability to reduce the amount of greenhouse gases and other harmful compounds released during the burning process. Integrated gasification combined cycle (IGCC) combustion is the realisation of this new technology and claims to significantly reduce harmful emissions. Despite the reductions in pollution from the use of IGCC technology, coal fired power stations will still have serious impacts on the environment. Read more
Will the Gold Price Be Volatile in 2010? By Jack Wogan
In the year 2010, we will soon be hearing good news from the macroeconomic side, but the interest rate will continue to rise. So, we can expect a lot of instability in the year 2010. According to different analysis, gold prices will go unstable in 2010, but in a downward direction. One of the reasons is that investors who hedge against uncertainty and inflation risks are supporting gold prices. The assumption for 2010 is $900 which is a rise of 13%.
Dollar and gold prices move in the opposite direction, whereas gold and euro move together. So, if euro is in crisis, we will see losses for gold in the future. Over the last years, there has been correlation of +0.52 among gold and euro. It is expected that this correlation may even rise further. Read more
