MASP, MUR, AEHI : Why Go Dig In The Ocean, When You Can Dig In Your Own Backyard?

July 25, 2010 - PRLog -- Mass Petroleum Corp.

Mass Petroleum announced that it has entered into a letter of intent to purchase JKA Ventures working interests in producing oil wells in Kansas. The price for the working interest is $800,000 with 10% to be paid once Mass Petroleum completes its due diligence.

The leases being acquired are located in Crawford County, Kansas and have been producing oil since the 1950’s. Mass Petroleum plans to re-open many of the wells that were closed when oil prices were low and never re-opened.

The hurricane season is now upon us, three months after the Gulf Oil spill. Tropical Storm Bonnie is expected to hit the Gulf and may impact the Gulf oil cleanup. This will continue the harm to marine life and the fishing industry.This is exciting news for Mass Petroleum , which is an oil and gas production company that has been focusing its efforts on acquiring oil and natural gas wells, interests and leases from existing companies or governmental bodies.

But how about we start drilling on land? With all the emphasis on offshore drilling in the last presidential campaign, no one has been talking about the opportunities available for old-fashioned land drilling. Drilling methods and technology have advanced a great deal since the 1950’s when many of these older wells were drilled. Newer technology also makes it possible for leases that have been lightly developed to be more developed because it is now economically feasible to do so.

Any oil company that holds a valid oil lease with operating wells has an asset that is as good as gold, in fact oil has been referred to as black gold. America and the UK consume 25% of the world’s oil production so if we increase production that would mean we are consuming less of the worlds supply. Supply is relative, and in the Mideast they can reduce, increase or stop the flow, something even BP hasn’t been able to do.

Now comes a company oil rich with knowledge and is acquiring leases in some hot areas, like Canada, where proven reserves are over 178 Billion barrels, and in Kansas which is even closer to home.



About Mass Petroleum Inc:

Mass Petroleum Inc is engaged in oil and gas exploration and production. The company is expanding its business through acquisitions of exploration stage oil and gas wells by means of leases or buying substantial interest in them. The company has work force of most experienced professional in oil and gas sector. As on November 30th, 2009 the company reported its three exploration properties in Oklahoma with 2.34 percent interest in their ownership. The company’s main focus is in oil and gas leases and interest ownership in medium sized oil and natural gas production properties. Mass Petroleum is also looking forward to acquire non operational interests and exploration interests in producing wells.

For More Info Visit: http://www.masspetroleum.com

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Recent News: European oil refineries sold and up for sale

Murphy Oil Corporation  recently reported that net income in the first quarter of 2010 was $148.9 million ($0.77 per diluted share), compared to net income of $171.1 million ($0.89 per diluted share) in the first quarter of 2009. The 2010 quarterly results included net after-tax losses of $41.3 million ($0.21 per diluted share) on transactions denominated in foreign currencies, while the 2009 results included after-tax gains of $26.1 million ($0.14 per diluted share) on these transactions. Net income in 2009 included income from discontinued operations of $99.9 million ($0.52 per diluted share) associated with Ecuador operations that were sold at a preliminary after-tax gain of $104.0 million in March 2009. Income from continuing operations for the three months ended March 31, 2010 and 2009 was $148.9 million ($0.77 per diluted share) and $71.2 million ($0.37 per diluted share), respectively.

MUR has scheduled its conference call at 12:00 p.m. Central Time on Thursday, August 5th to review second quarter 2010 earnings, which will be announced Wednesday afternoon, August 4th. Marketwire is handling arrangements for the call. Interested parties may participate by dialing 1-888-267-6301begin_of_the_skype_highlighting 1-888-267-6301 end_of_the_skype_highlighting and referencing reservation number 6543170. The call will also be broadcast live over the internet and can be accessed through the Investor Relations section of Murphy Oil Corporation Web site.

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Alternate Energy Holdings, Inc.  recently announced the company has entered the final stage of gaining local approval to build a nuclear power plant in Idaho after officially filing a rezone application this morning.

Recently the Payette County, Idaho, Board of Commissioners unanimously approved a county-wide zoning change, which makes this final step possible. The decision to do so was custom-designed for AEHI, because commissioners made the change specifically for a nuclear power plant; meaning the property in question could be rezoned from agricultural to industrial, but only if a nuclear power plant is built there.

Prior hearings in Payette County were also met with a groundswell of support from residents. Those who testified in favor of AEHI outnumbered the opposition at least three-to-one during every public meeting. During the last hearing County Commissioners even recognized the statistics, which proved a consistent level of support that in some cases surpassed 80 percent.

During construction the Payette County Plant, also called the Idaho Energy Complex, is expected to bring $5.3 billion to Idaho, which is about 10 percent of the State’s gross domestic product. The project will create more than 5,000 jobs, which average $60,000 during construction and $80,000 during operations.

Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation’s only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral(TM), which removes energy demands from homes and businesses, Colorado Energy Park (nuclear and solar generation), and Green World Water(TM), which assists developing countries with nuclear reactors for power generation, production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power.




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