• Maverick Oil and Gas Inc., Fort Lauderdale, Fla., (OTCBB: MVOG) reports the closing of the stock-purchase agreement to acquire Dallas-based Camden Resources Inc. did not occur. Maverick does not intend to proceed with the transaction under its current terms, and has requested the return of the $5 million paid as an earnest money deposit. • Calpine Corp., San Jose, Calif., (NYSE: CPN) has sold its domestic oil and gas exploration and production assets for $1.05 billion to Rosetta Resources Inc., a wholly owned subsidiary of Calpine. The deal price equals an enterprise value of $2.50 per thousand cu. ft. of gas reserves. Rosetta Resources issued some 45.3 million common shares to fund the purchase of all of Calpine's domestic exploration and production assets. As of May 1, 2005, Calpine's proved reserves totaled approximately 383 billion cu. ft. equivalent, including 170 billion in the Rio Vista Field in the Sacramento Basin, 169 billion in various South Texas fields and trends and 31 billion in various Rocky Mountain areas. Following this transaction, Calpine will no longer own any interest in Rosetta. The management team of Rosetta is led by Bill Berilgen as chief executive. • Thailand-based PTTEP Offshore Investment Co. Ltd. and Japan-based Mitsui Oil Exploration Co. Ltd. plan to acquire assets in Thailand from Pogo Producing Co., Houston, (NYSE: PPP) for US$820 million in cash. The transaction is expected to close in the third quarter. This sale is a disposition of all of the company's Thailand operations, including its Thailand concession, which consists of approximately 608,000 gross acres in the central portions of the Gulf of Thailand, in which the company owns a 46.34% working interest. The company announced in January it had retained Goldman Sachs to advise on a possible sale of its holdings in Thailand, which are legacy assets for Pogo. The company will seek to reinvest proceeds from the sale in domestic properties. • Nexen Inc., Calgary, (NYSE: NXY) has agreed to sell its conventional oil and gas properties in southeast Saskatchewan, northwest Saskatchewan, northeast British Columbia and the Alberta foothills for approximately C$946 million to an undisclosed party. The properties have proved reserves of approximately 49 million BOE and proved-plus-probable reserves of 64 million BOE. In the first quarter of 2005, the properties produced 18,300 BOE per day. Nexen will use the proceeds of the sale to reduce debt incurred during the purchase of Buzzard and other assets in the North Sea in 2004. • Australia-based Santos Ltd. plans to acquire Tipperary Corp., Denver, (Amex: TPY) for approximately $466 million, including the assumption of debt. Tipperary's shareholders will receive $7.41 per share in cash at closing. Tipperary is an independent energy company focused primarily on the exploration and production of coalseam and conventional gas from its producing operations in Queensland, Australia. The company's assets include a 75.25% capital interest and a 71.7% pre-royalty revenue interest in southeastern Queensland's Comet Ridge coalseam gas project totaling approximately 1.23 million acres and other exploration permits in Queensland totaling approximately 77,000 acres. Tipperary also holds interests in several exploration projects in Colorado and Nebraska covering approximately 623,000 acres. The Tipperary board has approved the transaction, while Slough Estates USA Inc., which owns 54% of Tipperary's outstanding common stock, has agreed to vote its shares in favor of the transaction. Tipperary's financial advisor for the transaction is Houlihan Lokey Howard & Zukin. Petrie Parkman & Co. is financial advisor to Slough. Merrill Lynch is financial advisor to Santos. • StarPoint Energy Trust has closed the purchase of oil and gas assets from EnCana Corp., Calgary, (Toronto, NYSE: ECA) for approximately US$326 million. Production from the acquired assets is 6,400 BOE per day (86% oil and gas liquids). Since January 2004, EnCana has divested of approximately 84,000 BOE per day of conventional production, generating proceeds of approximately US$6 billion. EnCana plans to use the proceeds from these sales to pay debt and purchase shares pursuant to the company's normal course issuer bid program. • Harvest Energy Trust, Calgary, (Toronto: HTE.UN) plans to purchase assets that produce 5,200 bbl. of oil per day in western Canada for C$260 million. The acquisition includes 19.8 million BOE of proved-plus-probable reserves (6% gas), giving the acquisition a cost of $13.15 per BOE. The reserve-life index on the properties is 10.4 years, bringing Harvest's overall reserve-life index to approximately 8.4 years. The acquisition also includes 57,000 net undeveloped acres of land. On a pro forma basis, Harvest's total production will be approximately 40,000 BOE per day. • XTO Energy Inc., Fort Worth, Texas, (NYSE: XTO) has purchased producing properties in the Permian Basin of West Texas and New Mexico from Irving, Texas-based ExxonMobil Corp. (NYSE: XOM) for $215 million. Long-lived proved reserves associated with the purchase are estimated to be approximately 21.1 million BOE (75% proved developed), adding production of 3,800 BOE per day (83% oil). The significant producing properties in the acquisition package include Vacuum Field of Lea County, New Mexico, and Cordona Lake Field in Crane County, Texas. Vacuum Field contributes about 2,400 BOE per day of production, while Cordona Lake Field produces about 900 BOE per day. Other producing fields in the package include Goldsmith in Ector County, Texas; St. Lawrence in Glassock County, Texas; and Blanco in Rio Arriba County, New Mexico. The purchase will be funded through a combination of cash flow and bank debt. • Energy Resource Technology Inc. (ERT), Houston, a wholly owned subsidiary of Cal Dive International Inc., (Nasdaq: CDIS) has acquired a mature property package on the Gulf of Mexico shelf from Murphy Exploration & Production Co.-USA, a wholly owned subsidiary of Murphy Oil Corp., (NYSE: MUR) for approximately $200 million. The acquisition represents essentially all of Murphy's Gulf of Mexico Shelf properties, consisting of eight operated and 11 nonoperated fields, with most of the value in the operated fields. Current net production from the properties is approximately 20 million cu. ft. of gas equivalent per day. Energy Resource Technology expects to improve production rates through exploitation of proved undeveloped and behind-pipe reserves. Proved reserves acquired through the purchase are estimated to be approximately 75 billion cu. ft. of gas equivalent. The package complements existing Energy Resource Technology properties, allowing the combination of many operations. • Devon Energy Corp., Oklahoma City, (NYSE: DVN) has acquired oil and gas properties in the Iron River area of western Canada from ExxonMobil Canada Energy for approximately US$200 million. Iron River is 120 miles northeast of Edmonton, Alberta. The acquisition includes 208 net sections of heavy oil leases and 51 net sections of conventional oil and gas leases encompassing approximately 165,000 net acres with an average working interest of approximately 96%. The acreage is largely undeveloped. Current production on the acquired properties is approximately 3,000 bbl. of oil per day. • EnerVest Management Partners Ltd., a privately held Houston oil and gas operator and institutional funds manager, plans to purchase Capital C Energy Operations LP from the partners of its direct parent company, resulting in Belden & Blake Corp., North Canton, Ohio, becoming indirectly wholly owned by affiliates of EnerVest. A change in control of Belden & Blake will result under the indenture governing Belden & Blake's outstanding US$192.5 million aggregate principal amount of 8.75% senior secured notes due 2012. Belden & Blake is one of the oldest oil and gas producers in the Appalachian and Michigan basins with estimated proved reserves of approximately 285 billion cu. ft. of gas equivalent. • Pioneer Natural Resources Co., Dallas, (NYSE: PXD) plans to purchase additional assets in two of its U.S. onshore core areas, the Permian Basin and South Texas, for a total price of approximately $177 million from two undisclosed parties. The purchase includes approximately 70 million BOE in undeveloped proved reserves with daily production of approximately 1,800 BOE and an estimated 800 undrilled locations. The transactions were expected to close by the end of July. • Viking Energy Royalty Trust, Calgary, (Toronto: VKR.UN) plans to acquire Krang Energy Inc. for C$172 million, including assumption of bank debt and working capital deficiency of approximately C$36 million. Krang is a private oil and gas company with current production of 5,000 BOE per day (50% heavy oil) in Western Canada. The acquisition also includes 16.6 million BOE of proved-plus-probable reserves, giving the properties a reserve-life index of approximately nine years. Krang also has a large inventory of low-risk development opportunities on 109,595 net acres of undeveloped land. • XTO Energy Inc. also plans to purchase nonoperated interests in the Goldsmith and Wasson oil fields in Ector and Yoakum counties, Texas, from Mission Resources Corp., Houston, (Nasdaq: MSSN) for $56.5 million in cash. Petrie Parkman & Co. advised Mission on this transaction. Net production associated with these fields is approximately 1,000 BOE per day. Mission intends to hold the proceeds as cash until its merger with Petrohawk Energy Corp. closes. • Pioneer Natural Resources Co., Dallas, (NYSE: PXD) plans to sell its interest in the Olowi block, offshore Gabon, to an undisclosed party for approximately US$49 million. The agreement allows Pioneer to retain the potential to receive additional payments for oil produced from any deeper reservoirs discovered on the block. "Since we made the decision last fall not to develop the Olowi Field, oil prices covering the potential production period for the field have risen significantly," says Scott D. Sheffield, Pioneer's chairman and chief executive. "As a result, we reevaluated the Olowi project and reconsidered our options for capturing its potential value. We sought and received bids from potential partners interested in jointly developing the field and from parties interested in an outright purchase of our entire interest. Ultimately, we determined that the best option was to sell our interest and realize the value of the Olowi Field while keeping our resources directed toward our other higher-impact projects." • St. Mary Land & Exploration Co., Denver, (NYSE: SM) plans to acquire oil and gas properties in the Wind River and Powder River basins of Wyoming through its wholly owned subsidiary, Nance Petroleum Corp., for $39 million in cash. The acquired properties have an estimated 18.7 billion cu. ft. of gas equivalent of proved risked reserves, (94% developed) and produce an estimated 530 bbl. of oil and 3.2 million cu. ft. of gas per day. The acquisition will include approximately 7,200 net acres of undeveloped oil and gas leases. It is expected close Aug. 2. Payment for the properties will be made from cash on hand and funds available under St. Mary's existing credit facility.