U.S.

Allied Resources Inc., Salt Lake City, (OTCBB: ALOD) has acquired a nonoperated 21% working interest and a 12.75% net revenue interest in a Goliad County, Texas, well from Tyner Exploration Inc. and Clendon B. Caire.

The Brinkoeter No. 4 well in the V. Ramos Survey, A-241, is operated by Houston-based Marquee Corp. Production is 1,800 barrels of oil and 600,000 cubic feet of gas per month from the Massive formation. The effective date is Oct. 1.

Allied holds assets in Calhoun and Ritchie counties, West Virginia, and Goliad, Edwards and Jackson counties, Texas, producing from 158 wells with working interests from 3% to 75% managed by local operators.

Amen Properties, Midland, Texas, (Nasdaq: AMEN) plans to acquire net royalty interests in producing properties in 11 states from Santa Fe Energy Trust, New York, (NYSE: SFF) and Devon Energy Production Co. LP, Oklahoma City, (NYSE: DVN) for a total price of $56 million.

Amen will acquire a 90% interest from Santa Fe for $50.4 million in cash and 10% from Devon for $5.6 million.

The assets include more than 2,000 leases, with the major property located in Kern County, California, near Bakersfield. Other major holdings are in West Texas, Oklahoma and Louisiana. A reserve report by Scott Ryder Co. is due by the end of November.

Stifel, Nicolaus & Co. Inc. is advisor to Santa Fe.

The effective date is Oct. 1. The deal is expected to close by year-end.

Arena Resources Inc., Tulsa, Okla., (NYSE: ARD) has acquired properties in Eddy County, New Mexico, and Andrews County, Texas, in separate transactions, and plans to acquire two additional properties in Lea County, New Mexico, and Andrews County, Texas, from undisclosed sellers for a combined price of $6,523,500 in cash.

The combined assets include a 96% average working interest (72% net) in approximately 8,900 acres. Arena is operator. All of the properties are close to existing Arena assets. In addition to existing producing wells, 120 new potential drilling locations have been identified.

Net production is approximately 100 barrels of oil per day. Proved reserves are 4.2 million barrels of oil net.

Arena chief executive Tim Rochford says, "All of these newly acquired Permian Basin properties are near assets that are currently being developed and can be serviced out of our Hobbs, New Mexico, field office. With the addition of the new properties in Andrews County, Texas, we now have over 20,000 acres at our Fuhrman-Mascho property. We will continue to look for acquisition opportunities that complement our existing properties."

The effective dates for the completed transactions are Oct. 1 and Nov. 1. Closing on the other properties was expected by end of November.

Arena has operations in Texas, Oklahoma, Kansas and New Mexico.

Avalon Oil & Gas Inc., Minneapolis, (OTCBB: AOGN) has acquired nonoperated interest in Lake Washington Field in Plaquemines Parish, Louisiana, from an undisclosed seller for an undisclosed price.

Avalon will hold approximately 0.7% working interest in three units about 60 miles south of New Orleans producing approximately 1,000 barrels of oil per day. Assets also include like interest in surface production facilities and two salt-water injection wells. Swift Energy Co. (NYSE: SFY) is operator.

Bois d'Arc Energy Inc., Houston, (NYSE: BDE), has decided not to sell the company and to instead repurchase shares.

Bois d'Arc, which focuses on the Gulf of Mexico, solicited several preliminary purchase offers, but no offer guaranteed sufficient financing. Instead, the company will buy back of up to $100 million of its common shares.

The company's assets are offshore Louisiana and Texas, including interests in 44 oil wells and 67 gas wells. Proved reserves on June 1 were approximately 404 billion cubic feet of gas equivalent, up from some 344 billion equivalent at year-end 2006.

Bois d'Arc chairman M. Jay Allison says, "Bois d'Arc and its board conducted an extensive process of evaluating strategic alternatives during a period of uncertainty in the financing markets. After carefully reviewing other strategic alternatives, our board believes that the best option for our shareholders is to continue to pursue our established and successful business plan augmented by a repurchase of shares."

Scotia Waterous and Raymond James & Associates were advisors for Bois d'Arc's strategic-alternatives review.

Standard & Poor's Rating Services reported the ratings and outlook for Comstock Resources Inc., Frisco, Texas, (NYSE: CRK) which holds approximately 50% of BDE shares, remains unchanged (BB-/Stable/-).

S&P analyst Edward Sweeney says, "Given this announcement, near-term debt repayment is unlikely. However, considering consolidated leverage is already at the high end of the BB- category, at approximately $4 per barrel, we could revise the outlook to negative if leverage measures worsen materially from current levels."

Braesridge Energy LLC, an affiliate of Barry Kostiner, chief executive of Platinum Energy Resources Inc., New York, (OTCBB: PGRIU), plans to acquire 2 million Platinum shares valued at approximately US$18.2 million.

The acquisition represents approximately 14% of shares issued in Platinum's IPO. Pro forma, Braesridge will own 2.2 million shares of Platinum.

BreitBurn Energy Partners LP, Los Angeles, (Nasdaq: BBEP) has completed its acquisition of the E&P and midstream assets in Michigan, Indiana and Kentucky owned by Quicksilver Resources Inc., Fort Worth, Texas, (NYSE: KWK) for $750 million in cash and approximately $704.5 million in units for a total deal value of $1.45 billion.

Quicksilver will receive 21.348 million units and will become BreitBurn's largest shareholder with 31.9%.

The assets include more than 5,400 producing wells on 922,564 gross acres (529,698 net), related gas-gathering and -processing systems and Quicksilver's interests in approximately 260,000 net undeveloped acres as of Dec. 31.

The Michigan assets include substantial Antrim shale growth opportunities and extensive non-Antrim development opportunities including Prairie du Chien, Richfield and Detroit River areas. The Indiana and Kentucky assets are in the New Albany shale and include geology similar to the Antrim assets, adjacent acreage leasing opportunities, low-price differentials and ownership of key regional pipeline systems.

Net production is 76 million cubic feet of gas equivalent per day, representing 38% of Quicksilver's production. Proved reserves as of Dec. 31 were 539 billion cubic feet equivalent (96% gas, 89% proved developed producing).

The assets also include low-risk development opportunities with potential for more than 2,500 additional drilling locations and more than 825 additional recompletions.

The Michigan midstream assets include 114,000 horsepower of operated compression, 297 miles of pipeline including 138 miles of transmission and 159 miles of high-pressure gathering and more than 1,000 miles of low-pressure gathering pipelines. The assets also feature three gas-processing plants for removal of carbon dioxide and four gas-liquid-recovery plants.

Pro forma, BreitBurn's gross producing wells will increase from 488 to 5,924 and net land will increase from 52,749 acres to 582,447. Production will increase from 46.2 million cubic feet equivalent to 122 million equivalent per day. Proved reserves will increase from 289 billion cubic feet equivalent (48 million barrels equivalent) to 819 billion equivalent (137 million barrels equivalent).

With this transaction, gas accounts for approximately 60% of Breitburn's total estimated proved reserves, up from 2% prior to the acquisition. Approximately 80% of proved developed producing production is hedged for three years, with a reserve-life index of approximately 19 years.

BreitBurn is an MLP subsidiary of Provident Energy Trust, Calgary (Toronto: PVE-UN; NYSE: PVX). The deal reduces Provident's ownership in BreitBurn from approximately 51% to approximately 23%. Quicksilver is not taking a BBEP board seat.

Provident president and chief executive Tom Buchanan says, "This latest acquisition by BreitBurn further validates Provident's strategy of increasing the value of our U.S. energy business by establishing BBEP as a publicly traded master limited partnership. Provident unit-holders benefit from this deal through the projected increase in cash flow from BreitBurn's distributions, as well as through the value of our direct equity ownership position in a growing U.S. oil and gas business of significant size and scale."

BreitBurn co-CEO Hal Washburn (Randall H. Breitenbach is co-CEO) says, "This acquisition truly transforms our company by nearly tripling our estimated proved reserves and production while adding Quicksilver's Michigan-based management, technical and operating teams with extensive experience in shale-gas development to our current team. Our operating and growth platform is strengthened and we are positioned to compete for both oil and gas opportunities going forward. The acquisition provides BreitBurn significant operating scale in Michigan, making us the largest gas producer in Michigan and one of the top producers in the Antrim shale."

Quicksilver president and CEO Glenn Darden says, "This transaction enables Quicksilver to achieve its objectives of significantly improving our financial position while retaining meaningful upside in these properties through our ownership of the BreitBurn units. As a result of this divestment, Quicksilver's development activities will be focused on its high-growth properties in the Fort Worth Basin of Texas and the Horseshoe Canyon area in Alberta."

BreitBurn funded the deal with a $450-million private placement of equity (PIPE) and a $1.5-billion amended and restated bank credit facility underwritten by Wells Fargo Bank NA and an affiliate of Credit Suisse Securities (USA) LLC. Quicksilver intends to use the cash proceeds from this transaction to pay borrowings under its existing revolving credit facility and for capex.

J.P. Morgan Securities was financial advisor to Quicksilver and Credit Suisse was financial advisor to BreitBurn.

Standard & Poor's Ratings Services reports that Quicksilver's BB- rating and Stable outlook would not be affected by the deal. Although the transaction reduces Quicksilver's production and reserves by about one-third, use of approximately $590 million in after-tax proceeds to pay bank borrowings is favorable for credit, S&P reports. The reduction in debt gains Quicksilver needed financial flexibility to pursue an aggressive development program in the Barnett shale, it adds.

Brighton Oil & Gas Inc., Dallas, (OTCBB: BOGS) has acquired a 10-well oil lease in Throckmorton County, Texas, from Texas-based K & D Equity Investments Inc. for $50,000 in stock. The assets include proved developed reserves of 220,000 barrels of oil.

Chesapeake Energy Corp., Oklahoma City, (NYSE: CHK) plans to acquire approximately 2,000 net undeveloped leasehold acres in the Barnett shale in Tarrant County, Texas, from Western Production Co., Fort Worth, Texas, and a partner for an undisclosed price.

Chesapeake now has approximately 235,000 net acres of leasehold in the Barnett shale play, including 200,000 net acres in the Core and Tier 1 areas of Tarrant, Johnson and western Dallas counties. The company's drilling inventory in the play is more than 2,700 net locations.

In addition, Chesapeake has entered a land-services agreement with Western's affiliate, Axia Land Services LLC, to work exclusively in certain areas of Tarrant County to acquire leases for Chesapeake. This arrangement will complement similar arrangements Chesapeake has with Fort Worth-based Dale Property Services LLC and Four Sevens Oil Co. Ltd., and Salt Lake City-based Sinclair Oil Co., covering different portions of Tarrant County.

Chesapeake expects to acquire up to 40,000 net leasehold acres per year in the Barnett, providing up to an additional 500 to 600 drilling locations per year.

Chesapeake chief executive Aubrey K. McClendon says, "With our own landmen and lease brokers now teamed up with the Western, Dale, Four Sevens and Sinclair leasing teams, we will continue acquiring a steady stream of valuable leasehold in Tarrant County that will provide Chesapeake with significant growth opportunities for years to come."

An undisclosed buyer has acquired the producing and nonproducing acreage in Pecos County, Texas, from Clayton Williams Energy Inc., Midland, Texas, (Nasdaq: CWEI) for $21 million. Proceeds were used to pay revolving credit facility debt.

Denbury Resources Inc., Dallas, (NYSE: DNR) plans to sell its Louisiana gas assets to an undisclosed privately held company for approximately $180 million, plus any amounts received from a net profits interest before closing.

The majority of assets are in the Houma embayment area of Terrebonne Parish, including Lirette and South Chauvin fields, and shallow gas plays at Bayou Sauveur and Gibson fields. Production as of the second quarter was approximately 28.8 million cubic feet of gas equivalent per day (85% gas), representing 11% of Denbury's total production.

Denbury plans to use the proceeds to reduce its bank debt.

Denbury president and chief executive Gareth Roberts says, "This sale further enables us to concentrate our investment and management focus on our tertiary operations where we have lower risk, greater predictability, virtually no competition in our areas of operation and higher profitability. These funds, combined with the anticipated capital from planned 'dropdowns' of CO2 pipeline assets over the next 12 months to Genesis Energy LP are expected to fund the shortfall between our anticipated cash flow from operations and our capital budgets in 2007 and 2008."

Genesis is Denbury's midstream MLP.

The deal is expected to close by mid-December.

Diversified Oil and Gas Holdings Ltd. (Pink Sheets: DVFI) has acquired wells and leases in northeastern Oklahoma from Well Renewal Inc., Tulsa, Okla., (Pink Sheets: WRNW) for $1.92 million in stock and cash.

Assets include 74 wells and six leases. Well Renewal will remain operator and assume management roles at Diversified.

Well Renewal focuses on enhancement and recovery of abandoned and low-production properties. Diversified Oil & Gas is a venture capital-firm focused on exploiting and distributing domestic oil and gas reserves.

EGPI/Firecreek Inc., Scottsdale, Ariz., (OTCBB: EFCR) and subsidiary Firecreek Petroleum Inc. plans to acquire 75% working interest in West Texas properties from Success Oil Co., Pasadena, Calif., for an undisclosed price.

The two-well reentry program is on the J.B. Tubb/Amoco Crawar property in the Permian Basin in Ward County, Texas, near Monahans. The program includes reentry into two wells in the Upper Clearfork formation from 4,200 to 4,400 feet, and Lower Clearfork formation from 4,550 to 4,750 feet. Total present Crawar Field statistics show overall production of 500,000 barrels of oil and 4.6 billion cubic feet of gas per month. Success Oil will be operator.

EGPI/Firecreek chairman and chief financial officer Dennis Alexander says Firecreek may purchase an additional well from Success Oil producing $106,000 net cash flow per month with an additional 46 drilling locations.

EnCana Corp., Calgary, (NYSE; Toronto: ECA) has acquired all of the East Texas Deep Bossier gas and land interests of privately owned Leor Energy, Houston, for US$2.55 billion.

Assets include Leor's 50% interest on approximately 26,600 net acres in the Amoruso Field in Robertson County, approximately 9,100 net acres of offsetting land to the east at South Hilltop, and 20,600 net undeveloped acres in Robertson and Madison counties, totaling approximately 56,300 mostly undeveloped net acres.

Production is approximately 75 million cubic feet per day net. EnCana expects production to reach more than 220 million per day by year-end and average between 315- and 355 million per day in 2008. Proved reserves total 140 billion cubic feet.

EnCana is paying $10 million per each of the 200 potential well locations, according to Tudor, Pickering & Co. Securities Inc. As each well will cost some $10 million to drill, all-in acquisition and development costs could be $4.5 billion.

EnCana entered the Deep Bossier formation play in July 2005 with a 30% interest from Leor, then increased this to 50% in June 2006. EnCana has drilled and operated most of Amoruso Field's 30 producing wells. New processing capacity is expected to come onstream in December with the completion of a new gas plant and a gathering system expansion. EnCana has seven rigs working in the field now and expects to increase that to about 10 next year.

EnCana estimates about 200 net well locations expected to each recover between 8- and 13 billion cubic feet of gas with finding, development and acquisition costs of about $3 per thousand cubic feet. Ultimate recovery is expected to total 1.3- to 1.8 trillion cubic feet net of royalties. When combined with EnCana's existing Deep Bossier interests, the company estimates that it will have a total of about 370 potential drilling locations. Ultimate recovery is projected at 2.4- to 3.3 trillion cubic feet.

This acquisition increases EnCana's total holding over the Deep Bossier trend to about 215,000 net acres. EnCana expects all-in costs for this and its existing holding to average $2.50 per thousand cubic feet.

EnCana president and chief executive Randy Eresman says, "This acquisition follows our successful practice of entering a play early, locking up a large land position, applying the right technology and generating value that was previously unrecognized. It is similar to what we have done in plays such as Jonah in Wyoming and Cutbank Ridge in British Columbia.

"In just over 24 months, production from the Amoruso Field has grown from zero to more than 215 million gross cubic feet per day. This is an exciting long-life asset that is at the earliest days of development. It has the potential to be the leading resource play in our North American portfolio," Eresman said.

EnCana plans to pay for the acquisition with a combination of cash and debt. EnCana has arranged a US$2-billion revolving bridge financing with CIBC to help fund the acquisition. The effective date is Oct. 1. Closing is expected by year-end.

Work on the buy-out began this spring. EnCana will have 100% interest in Amoruso Field upon closing. Two of the five largest U.S. wells since 2002 are in the field: Bonnie Ann 1 and South McLean B1 (more than 50 million cubic feet per day). A newer well, Larson, is producing 65 million cubic feet per day.

Each well costs some $10 million to drill. They are 15,000 to 20,000 feet deep and intersect shale and sandstone 2,000 to 3,000 feet thick. Leor has a private-equity stake in Navasota Resources LP, which has a joint venture with Gastar Exploration Ltd., Houston, (Amex: GST; Toronto: YGA) in East Texas.

Leor was formed in 2003 by Thomas Kaplan and Guma Aguiar and in 2005 received $45 million of private-equity backing from Goldman Sachs and, in 2007, $150 million from Merrill Lynch. Its senior lenders are JPMorgan Chase and BNP Paribas.

Fellows Energy Ltd., Broomfield, Colo., (OTCBB: FLWE) plans to acquire interests in Wyoming and Utah from Dolar Energy LLC, Midvale, Utah, and Cochrane Resources Inc., Roosevelt, Utah, for a total price of $3.1 million.

Assets include a 25% working interest in a 2,400-acre leasehold in the dale Anticline in Sublette County, Wyoming, for $187,500. Upside includes potential for 16 to 32 well sites. Fellows will commit to drilling at least one 14,000-foot well in 2008.

Fellows also will purchase a 24% interest in the two-well Divide Field along with a 4,500-acre lease block of private, state and federal leasehold in Uintah and Grand counties, Utah, for $2.4 million. The company plans to drill at least two new wells and participate in a 3-D seismic program in 2008.

Fellows plans to acquire a majority interest in three producing wells for $510,000. Fellows will propose forming a waterflood unit in the Uinta Basin in eastern Utah which, if approved by the working-interest owners, Fellows will own a 35% working interest in the 1,280-acre unit. Plans for the project are to drill five additional wells and begin a waterflood project in the Green River formation.

Fox Petroleum Inc., London, (OTCBB: FXPE) plans to acquire onshore interests in the Cook Inlet region on the south coast of Alaska from an undisclosed seller for an undisclosed price.

Assets include a 100% working interest in approximately 42,000 acres of gas prospects in the Kenai Peninsula region. The eight leases are close to other major production sites and include two wells, the BA Bell Island well and the Unocal Figure Eight well. The acquisition adds to Fox's existing 32,000-acre Alaskan North Slope acreage.

Fox chief executive Richard Moore says, "This major acquisition provides us with a unique opportunity to have immediate impact in the Cook Inlet. The region has a proven gas history, an existing transportation infrastructure and a pressing industrial gas shortage that demands further development and production."

Fox Petroleum Inc., London, (OTCBB: FXPE) plans to acquire approximately 5,000 acres in the Alaskan North Slope from an undisclosed seller for an undisclosed price. This purchase adds to Fox's existing 32,000 acres in the region.

Fox will acquire a 100% working interest, on which the original assignees Daniel Donkel and Samuel Cade retain a 5% overriding royalty interest and the state a 16.67% royalty.

The leases are contiguous to the BP Badami Unit and ExxonMobil Point Thomson Unit and adjoin the northern border of the AVCG/Brooks Range Petroleum acreage. Infrastructure associated with these fields, such as roads, pipelines and processing units are about five miles away if a future discovery is made.

Fox Petroleum is seeking to acquire seismic, gravity and magnetic data to tie in with existing well logs and other data.

Fox chief executive Richard Moore says, "This entire area is hot. Historically there are reports supporting over half a billion barrels of oil and trillions of cubic feet of gas recoverable in and around the Point Thomson and Badami fields. This season our neighbors, Savant Alaska and Brooks Range, are conducting seismic surveys on a huge scale, and have identified real prospects for drilling in 2008."

GeoResources Inc., Houston, (Nasdaq: GEOI) has acquired all of the limited partner interest in an affiliated partnership from an undisclosed financial institution for $91.1 million.

The assets double GeoResouces' reserves and production base, and include oil and gas properties in Louisiana, the Gulf Coast, South Texas, the Permian Basin and the Black Warrior Basin. Production is approximately 5.2 million cubic feet of gas and 1,096 barrels of oil for a total 1,962 barrels of oil equivalent per day. Proved reserves are 16.3 billion cubic feet and 4.9 million barrels of oil for a total 7.6 million barrels equivalent.

GeoResources was the general partner of the affiliated partnership and operator of a majority of the properties. The company also plans to divest certain existing and acquired noncore properties to reduce debt and streamline operations.

GeoResources chief executive Frank A. Lodzinski says, "This acquisition is immediately accretive and doubles the size of the company in terms of reserves, production, revenues and cash flow. Importantly, it can be operated without additional staffing."

The company funded the acquisition with its senior secured revolving credit facility.

The gold-mining company Grand Pacaraima Gold Corp., Vernon, B.C., (Pink Sheets: GPGD) has acquired the oil and gas interests of Los Angeles-based Modern Energy Corp. (Pink Sheets: MDNO) for approximately $69,000 in stock.

Modern Energy has an 80% interest in 640 acres in Oklahoma near the Texas border that includes the Loomis No. 1 well, which is currently producing approximately 10,000 cubic feet of gas per day. The well is not yet producing from the upper Chester zone, known to be productive in surrounding properties. The company believes Loomis No. 1 has the potential to produce more than 300,000 cubic feet of gas per day plus as much as 50 barrels of oil per day. Six additional wells are planned.

Lucas Energy Inc., Houston, (OTCBB: LUCE) has acquired 3 million shares of Texas-based Bonanza Oil & Gas Inc. for ApClark prospect covering approximately 6,700 acres in ApClark Field in southwestern Borden County, Texas. The stock is a 24.6% stake. Lucas intends to immediately sell half of the shares in a private transaction to bring its position in Bonanza to 12.3%.

Bonanza produces and develops oil and gas reserves as well as develops and evaluates 3-D seismic programs. Its assets include wholly owned prospects, working interests in producing oil wells and a large seismic library.

Lucas Energy applies enhancement technology to underperforming oil and gas assets.

MegaWest Energy Corp., Calgary, (OTCBB: MGWSF) has acquired an interest in more than 33,000 acres in Montana from a group of undisclosed private companies for approximately $1.6 million in cash and stock.

The purchase price will consist of US$300,000 in cash, 500,000 common shares of MegaWest and 250,000 warrants to purchase one common share of MegaWest at US$2.50 during the next 18 months.

The assets, to be called the Big Sky project, include a 40% working interest in the Teton River prospect in Choteau County on 27,000 acres. MegaWest will earn an additional 20% working interest by carrying the other interest-holders through the first US$2 million of work, and then a 40% working interest.

The Big Sky acquisition also includes a 40% working interest in the Loma prospect in Choteau County on more than 6,000 acres. MegaWest will earn an additional 20% working interest by carrying the other interest-holders through the first US$1 million of work and then a 40% working interest.

MegaWest and the other interest-holders have established a regional area of mutual interest covering approximately 1 million acres that remains active for two years. The interest in the area will be divided 65% to MegaWest and 35% to the other holders, with MegaWest paying for 100% of the lease acquisition, initial geological and geophysical activity, drilling and completing of all wells, if any.

The Big Sky project will become an additional core focus area for MegaWest. MegaWest now owns or has the right to earn an interest in more than 100,000 acres in Texas, Kentucky, Missouri, Kansas and Montana.

Monogram Energy Inc., Richmond, Texas, (Pink Sheets: MGRA) plans to acquire the mineral rights to the T.W. Marlin lease in Corsicana, Texas, from an undisclosed seller for an undisclosed price. The lease comprises 70 acres with 12 wells. A workover rig and water truck are included in the acquisition.

A joint-venture partnership involving Montello Resources Ltd., Calgary, (Toronto Venture: MEO), Austin Developments Corp. (Toronto Venture: AUL) and Great Northern Oilsands Inc., Vancouver, (Pink Sheets: GNNS) has acquired the mineral rights to the John Bowen property in Morgan Highpoint County, Tennessee, from an undisclosed seller for an undisclosed price.

Montello will hold a 55% interest, Austin Developments 40% and Great Northern Oilsands 5%.

The John Bowen No. 2 test well has casing set and is currently drilling at more than 8,000 feet. It is anticipated that total depth of the well will be 9,500 feet.

Natural Resources Properties LLC, a subsidiary of International Oil & Gas Holdings Corp., Dallas, (OTCBB: IOGH) plans to acquire three Ohio-based companies-North East Fuel, Ace Oil & Gas and Crude Oil Marketing-for an undisclosed price.

Assets include 171 producing wells on 6,079 acres, a service rig and a crude oil transport truck, plus additional wells and leases held by Anderson Drilling that will be assigned to North East Fuel. A reserve study completed June 30 places proven reserves at 66.6 million cubic feet of gas and potential coalbed-methane reserves of 46 million cubic feet.

All three companies have been operated by the Bobby Anderson family for three generations. Bobby Anderson, the companies' president, will continue to handle operations. The three companies are debt-free.

IOGH is a diversified holding company, managing assets in the energy, biofuel, biochemicals and renewable technologies markets focused on high-growth potential early-stage companies and existing profitable companies.

Northern Oil and Gas Inc., Wayzata, Minn., (OTCBB: NOGS) plans to acquire approximately 4,500 additional net acres in Mountrail County, North Dakota, from an undisclosed seller for an undisclosed price. This acreage is near EOG Resources' recent exploration successes in the Parshall Field, North Dakota's largest Bakken reservoir. The acquisition increases Northern leasehold assets in Mountrail County to approximately 13,000 net acres and to approximately 45,000 gross acres.

Pearl Exploration and Production Ltd., Calgary, (Toronto Venture: PXX) has closed its acquisition of 100% working interest in assets in Montana and Utah from Denver-based PetroHunter Energy Corp. (OTCBB: PHUN) for US$30 million in cash and stock.

Petrohunter paid US$7.5 million in cash at closing and US$10 million in stock, of which US$2.37 million of shares are being held in escrow until approximately 4,836 net acres sell pending an agreement with certain third-party working-interest owners. An additional US$12.5 million will be paid when production reaches 5,000 barrels of oil per day or proven reserves are certified to be more than 50 million barrels.

The assets are in several large resource heavy-oil development projects including Fiddler Creek, Promised Land, West Rozel and Gunnison Wedge. Year-end 2006 Pearl had 9.6 million cubic feet of proved reserves with 42 million cubic feet proved, probable and possible.

PetroHunter chief executive Charles Crowell says, "This divestment is an important step in our efforts to monetize noncore properties and focus capital and personnel on further developing the company's core assets in the Piceance Basin of Colorado and our potentially major project in Australia where we hold over 7 million net mineral acres."

Pearl chief executive Keith Hill says, "This acquisition is consistent with our strategy of gaining exposure to underdeveloped heavy-oil assets with significant upside resource potential. The PetroHunter assets have the potential for high impact on our production and reserves and we look forward to commencing an aggressive drilling program on these outstanding projects. We are rapidly building one of the top heavy-oil portfolios in the industry with production of over 10,500 barrels of oil equivalent per day."

Penn Virginia Corp., Radnor, Pa., (NYSE: PVA) has acquired assets in East Texas from an undisclosed seller for $44.9 million.

The assets include approximately 4,800 gross acres (4,700 net) in the Cotton Valley adjacent to Penn Virginia's North Carthage Field in Harrison and Panola counties. The properties feature 110 potential Cotton Valley locations.

Production is 1.1 million cubic feet of gas equivalent per day. Proved reserves are 21.9 billion cubic feet equivalent (2.4 billion proved developed) and probable and possible reserves are 104 billion cubic feet equivalent.

Penn Virginia funded the deal with cash on hand and borrowings from its revolving credit facility.

Penn Virginia president and chief executive A. James Dearlove says, "Including the Woodlawn Field acquisition announced in July, we have recently acquired 41 billion cubic feet equivalent of proved reserves and approximately 114 billion cubic feet equivalent of estimated probable and possible reserves in our core Cotton Valley area for approximately $67 million."

Petroleum Development Corp., Bridgeport, W.Va., (Nasdaq: PETD) has completed its acquisition of a majority working interest in approximately 760 wells in southwestern Pennsylvania from Castle Gas Co. Inc., Pittsburgh, for approximately $53 million.

Assets include approximately 47 billion cubic feet equivalent total net reserves (15.8 billion proved developed producing) and associated pipelines, equipment and undeveloped acreage. Net production is approximately 3 million cubic feet equivalent per day. Additional assets include associated pipelines, real estate, undeveloped acreage and equipment, which include the assets of Indiana Tri-County Excavating Co. Inc. Petroleum Development will be operator of the majority of the properties.

Petroleum Development president Tom Riley says, "This acquisition is our second in Appalachia this year and represents our continuing commitment to growth in this area. These assets are in our back yard and can be easily integrated into our existing operations. The undeveloped acreage represents a great opportunity to add low-risk gas reserves through drilling over the next few years."

The effective date is Oct. 1.

Petroleum Development operates in the Rockies, Appalachia and Michigan.

PetroQuest Resources Inc., Arlington, Texas, (Pink Sheets: PQRJ) through its subsidiary Mountaineer Gas Transmission Inc. plans to acquire a 100% interest in 15 gas and oil wells in Vinton County, Ohio, from an undisclosed seller for an undisclosed price.

The wells are on approximately 2,850 acres featuring future drilling sites. PetroQuest plans to rework all the wells and sell the gas directly to an industrial end-user for its operations.

Pilgrim Petroleum Corp., Dallas, (Pink Sheets: PGPM) plans to acquire 100% working interest and royalty interest in the Sutton Farm Project in Wichita County, Texas. The assets cover approximately 146.7 acres and feature two producing wells along the eastern edge of West (KMA) Field.

Pioneer Natural Resources Co., Dallas, (NYSE: PXD) plans to acquire an interest in approximately 74,000 gross acres in the Barnett shale from an undisclosed seller for $150 million.

Assets include net proved reserves of 81 billion cubic feet gas equivalent and 480 billion cubic feet equivalent of potential reserves, largely on approximately 37,000 gross acres in Parker County, Texas. Net production is 15 million cubic feet per day. The acreage being acquired includes more than 300 potential drilling locations, with most locations covered by 3-D seismic data. Pioneer will be operator and own an average working interest of approximately 70%. The acquisition also includes approximately 37,000 gross acres in expansion areas of the Barnett.

This acquisition will bring Pioneer's total holdings in the Barnett to approximately 87,000 gross acres, with more than 450 total drilling locations in established areas of the play. Pioneer entered the play earlier this year and has participated in five successful wells with more planned through 2008.

Pioneer chairman and chief executive Scott Sheffield says, "We are encouraged by the early drilling results from our entry into the Barnett shale. This acquisition is a significant step toward achieving our goal of building a core position in this play."

Pioneer plans to use a portion of the proceeds from its previously announced MLP IPO and sale of its Canadian subsidiary to fund the acquisition. It is expected to close by year-end.

Pioneer Natural Resources Co., Dallas, (NYSE: PXD) plans to acquire an interest in approximately 44,000 gross acres in the Sprayberry Field in West Texas from an undisclosed seller for $90 million.

Assets include proved reserves of 15 million barrels oil equivalent and 23 million probable, for total possible reserves of 38 million. Approximately 20% of the proved reserves are developed with current net production of 700 barrels of oil equivalent per day. The acquisition includes more than 600 potential drilling locations on 40-acre spacing.

Pioneer will operate the properties with an average 85% working interest. The company plans to use a portion of the proceeds from its previously announced MLP IPO and sale of its Canadian subsidiary to fund the acquisition.

The deal is expected to close by year-end.

Plains Exploration & Production Co., Houston, (NYSE: PXP) has closed its acquisition of Pogo Producing Co., Houston, (NYSE: PPP) for $1.5 billion in cash and approximately $2.1 billion in stock in a total deal valued at approximately $3.6 billion.

Pogo shareholders received 0.68201 Plains share and $24.88 in cash per Pogo share, a 19% premium to the Pogo stock price at the time of the announcement. Plains shareholders own approximately 66% of the combined company.

Pogo has 432 productive and 56 dry gross wells on 5.1 million gross lease acres in North America, 6.3 million gross acres in New Zealand and 1.5 million gross acres in Vietnam.

The assets are valued at approximately $16.4 per proved barrel of oil equivalent, according to Morgan Stanley.

Pogo's production was approximately 47,000 barrels equivalent per day following its sale of its Canadian subsidiary Northrock Resources Ltd. to Abu Dhabi National Energy Co. PJSC, Abu Dhabi, UAE (Abu Dhabi: TAQA). Proved reserves excluding the Northrock assets are 1.3 trillion cubic feet of gas equivalent (219 million barrels equivalent, 65% gas).

Plains now has combined proved reserves of approximately 635 million barrels equivalent and proved, probable and possible reserves of 1.4 billion barrels equivalent.

Plains plans to form an MLP to include 75% of its assets post-closing of the Pogo deal.

Plains chairman, president and chief executive James C. Flores says, "This transaction almost doubles PXP's production with the addition of substantial producing properties and significant growth potential in Texas, primarily the Panhandle, Permian and Gulf Coast, plus the prolific Madden Field in Wyoming and the San Juan Basin in New Mexico. Since most of the Pogo assets are complementary to the profiles of the PXP assets, with long production lives and low decline rates, PXP will now be positioned to create one of the 'best in class' MLPs in the E&P marketplace."

Pogo chairman, president and CEO Paul G. Van Wagenen says, "This transaction...creates a combined company with impressive financial and operational strength able to successfully capture the best of opportunities in our industry. We look forward to a prosperous future of great accomplishments benefiting our shareholders."

Former Pogo board members Thomas A. Fry III and Charles G. Groat joined the Plains board at closing.

Lehman Brothers Inc. was financial advisor to Plains and Goldman, Sachs & Co. and TD Securities Inc. were financial advisors to Pogo.

Standard & Poor's Ratings Services has affirmed Plains' BB corporate credit rating. Pogo's BB rating has been removed.

S&P credit analyst Jeffrey Morrison reports, "The affirmation of the corporate credit rating on PXP reflects the benefits expected to result from the Pogo transaction. These include increased reserve and production scale, a broader geographic footprint, and additional prospects for growth."

Morrison said strengths are partially offset by rising debt leverage on a cash flow and per-barrel basis, the risks associated with a historically acquisition- and transaction-focused strategy, and participation in the historically cyclical exploration and production segment of the oil and gas industry.

Platina Energy Group Inc., Cheyenne, Wyo., (OTCBB: PLTG) plans to acquire a 47.5% interest in Bowie Energy, which holds interests in two major producing leases in Texas, for $16 million.

Platina Energy Group Inc., Cheyenne, Wyo., (OTCBB: PLTG) through its subsidiary Platina Exploration Corp., plans to acquire 50% interest in two properties in Oklahoma and East Texas from Buccaneer Energy Corp. for a total price of approximately $655,000.

Platina will pay $455,138 for a 50% interest in the Rick Newell saltwater disposal project with one oil well producing approximately four barrels per day, one saltwater disposal well and other wells to be recompleted. Platina plas to sell a 40% interest in the two wells and a 15% interest in the remaining nonoperating wells.

Platina will pay $199,873 for half of Buccaneer's 40% interest in several proved undeveloped prospects and a 50% interest in Rusk County, Texas, prospects with approximately 50 drilling locations. The purchase price will be paid $60,000 in cash and a promissory note for $139,873 at 6% interest due Jan. 31.

Buccaneer and Platina will be equal operators under the names Buccaneer Energy LLC and Bowie Operating Co.

Platinum Energy Resources Inc., Montvale, N.J., (OTCBB: PGRIU) has acquired Tandem Energy Corp., a subsidiary of Tandem Energy Holdings Inc., Midland, Texas, (Pink Sheets: TDYH) for a total of $102 million in stock and debt.

Platinum paid 0.5769 share per Tandem share for a total value of $60 million. Platinum also assumed $42 million of Tandem debt. Platinum intends to repurchase up to $80 million of its shares over time.

Assets include properties in Texas and New Mexico.

Former Tandem president and chief executive Tim G. Culp becomes Platinum president, replacing Mark Nordlicht, who resigned. Platinum chief executive Barry Kostiner continues in that role and on the board.

ReoStar Energy Corp., Fort Worth, Texas, (OTCBB: REOS) has acquired an additional 710 acres in the Barnett shale from an undisclosed seller for an undisclosed price. In addition, ReoStar has sold 1,738 lease acres outside of its core development area.

The acquired acreage adjoins ReoStar's current primary development area. With this acquisition, ReoStar now has 230 identified drilling locations. The company also has purchased a swab rig and a workover rig.

The MLP Rio Vista Energy Partners LP, Brownsville, Texas, (Nasdaq: RVEP) plans to acquire properties and associated pipeline gathering systems in Oklahoma from three privately held Oklahoma-based companies-GM Oil Properties Inc., Penny Petroleum Corp. and GO LLC-with geographically contiguous operations for $29 million.

The assets include a collectively controlled majority interest in 93 operated wells and 16 nonoperated wells in east-central Oklahoma in McIntosh, Haskell and Pittsburg counties on 22,000 gross acres. Upside potential includes an additional 114 drilling locations in the upper formations and opportunities to explore in the deeper Caney and Woodford shales.

Additional assets include a 25-mile pipeline that gathers gas from properties in Haskell and Pittsburg counties and a 40-mile pipeline that receives gas from leases in the Texanna area north of Lake Eufaula.

Estimated gas reserves are 60.5 million cubic feet with 9.1 million proved developed and 51.4 million proved undeveloped.

The $29-million purchase price includes $17.1 million of senior secured debt, assumption of $500,000 of third-party obligations, $9.4 million in cash, the issuance of $1.5 million of Rio Vista common units and the issuance of a short-term convertible note of $500,000.

The deal was expected to close in November.

Saratoga Resources Inc., Austin, Texas, (OTCBB: SROE) plans to acquire Covington, La.-based Harvest Oil & Gas LLC and The Harvest Group LLC for a total of $145 million in separate deals.

Saratoga will pay $88 million in cash and $28 million in subordinated promissory notes for a total $116 million for Harvest Oil & Gas. Assets include producing gas properties onshore and offshore southern Louisiana. As of Sept. 1, proved reserves were 58.6 billion cubic feet of gas equivalent (71% gas), probable reserves are 73.8 billion cubic feet equivalent and possible reserves are 54.4 billion cubic feet equivalent.

Saratoga will pay $22 million in cash and $7 million in subordinated promissory notes for a total $29 million for The Harvest Group. Assets include properties in Little Bay, South Atchafalaya Bay, Main Pass and Breton Sound in Louisiana.

Total combined reserves are 216 billion cubic feet equivalent, with 77 billion proved, 74 billion probable and 65 billion possible. The estimated PV10 value is $327 million.

Saratoga chairman and chief executive Thomas Cooke says, "We intend to continue to operate The Harvest Group and Harvest Oil & Gas out of Covington, La., under the leadership of Barry Salsbury and to retain the technical and operational staffs responsible for the operations of both companies. We believe that the combined Harvest team...will be a valuable asset to Saratoga as we seek to continue to expand our holdings in southern Louisiana and the Gulf of Mexico."

The deals are expected to close by year-end.

Stonebridge Resources Exploration Ltd., Houston, (Pink Sheets: SBRX) plans to acquire properties in Kansas from an undisclosed seller for an undisclosed price. The properties are near Stonebridge leases and will double the size of its holdings in Kansas.

Undisclosed buyers have acquired interests in Texas from Calgary-based Trans-Atlantic Petroleum Corp. (Toron-to: TNP) in two deals totaling more than C$4.25 million.

TransAtlantic sold interests in the South Gillock and State Kohfeldt units in Galveston County, Texas, for $4 million, including the Big Gas Sand formation and related shallow leasehold rights. TransAtlantic will retain its deep leasehold rights covering approximately 2,700 acres. The company sold its interests in the Jarvis Dome property in Anderson County, Texas, for $250,000.

TransAtlantic acquired the South Gillock and State Kohfeldt units in April 2005 for $3.5 million in cash and stock. It conducted an extensive workover program on the units in an attempt to increase production from existing wells but achieved only limited success. Earlier this year, the company drilled the SGU No. 96 well to exploit the gas cap in the South Gillock Unit, but the results were disappointing, TransAtlantic reported.

In addition to the cash consideration, the sale relieves the company of an estimated $2 million in plugging and abandonment liabilities. TransAtlantic is seeking to farm out its deep rights to a partner to test the Lower Frio, Middle Frio and Vicksburg formations.

The sale of the Jarvis Dome property included approximately 900 lease acres, some nearing expiration, and production of some 40,000 cubic feet per day.

The company reports it wants to reduce its U.S. operations to focus on its operations in Romania, Morocco and Turkey.

Triangle Petroleum Corp., Calgary, (OTCBB: TPLM) has entered a joint venture in Arkansas with its operating partner, Houston-based Kerogen Resources Inc.

The joint venture will build on the 34,000 gross acres (20,000 net acres) currently held in Conway, Pope and Faulkner counties where both companies now hold an equal 50% working interest. The venture includes a 52-township area of mutual interest in Conway, Faulkner, Pope and Van Buren counties for three years, during which time both companies expect to initiate an aggressive drilling program.

Triangle is obligated to drill and complete one (net) horizontal well and will pay 67% of the capped AFE costs. All future operations between Kerogen and Triangle will be shared on an equal basis. Triangle will also reimburse Kerogen for actual land costs which total C$458,000.

Unbridled Energy Corp., Calgary, (CDNX: UNE) plans to enter a joint venture with an undisclosed Appalachian Basin operator for an undisclosed amount.

The partnership will begin drilling multiple horizontal test wells in late fourth-quarter or early first-quarter 2008 on Unbridled's approximately 23,000-acre Ohio River Devonian Shale play. Unbridled will be the operator and will jointly design the drilling, completion and testing program. This operator will earn a 50% working interest in the acreage once the terms are met.

Unbridled Energy Corp., Calgary, (CDNX: UNE) plans to purchase existing wells, additional acreage and pipeline access for gas sales in the Ohio River Devonian shale play from an undisclosed seller for an undisclosed price.

One of the existing wells in this acquisition will be used as a re-entry candidate for one of the first horizontal test wells of the planned joint drilling program previously announced.

Victory Energy Corp., Carson City, Nev., (OTCBB: VYEY) has closed its acquisition of approximately 2.5 billion cubic feet of proven undeveloped reserves in the Permian Basin from an undisclosed buyer for an undisclosed price.

The assets are in the Adams-Baggett Canyon sandstone gas field in Crockett County, Texas, and cover approximately 40 square miles of the southeastern part of the county.

Before this acquisition, the company primarily owned the Northeast Glasgow prospect in the Williston Basin, Valley County, Montana, involving approximately 2,000 acres, and holds interest as a joint-venture partner in the Mesa Gas prospect in Roosevelt County, New Mexico.

Victory Energy president Jon Fullenkamp says, "We are pleased to bring this opportunity to a close and begin our drilling program on the Adams-Baggett Ranch. The drilling contractor and the operator are both knowledgeable, and have proven track records with Canyon Sandstone formations. The success rate for commercially producing gas wells in this area is over 97%."

The Canyon sandstone formation is found at 4,300 to 4,900 feet.

Victory will develop the options with an operator who has successfully drilled five of its five gas wells on leases offsetting Victory's acquisition. Average production for these wells is approximately 250,000 cubic feet of gas per day per well. Victory has a right of first refusal on five additional options.

Western Metals Corp., Los Angeles, (Pink Sheets: WTLC) plans to acquire working interest and net revenue interest in two gas wells in Lindsey Slough Field in Solano County, California, from Clayton, Mo.-based Loto Energy II LLC for an undisclosed price.

Western Standard Energy Corp., London, (OTCBB: WSEG) (fka Lusora Healthcare Systems Inc.) plans to acquire two leases in the Lodgepole Reef prospects in Stark County, North Dakota, near Dickinson from Oil For America LLC for an undisclosed price.

Each of the prospects has been identified and high graded using Oil For America's geologic-mapping technologies. The signatures match wells that have produced more than 4 million barrels in the play. Typical wells in the play produce 1,000 to 2,500 barrels of oil per day.

Under the agreement, if Western Standard drills both prospects, then Oil For America will identify and high-grade an additional eight Lodgepole Reef prospects for Western Standard on the same terms.

Western Standard has interests in the Valley County shallow gas assembly in Montana.

XTO Energy Inc., Fort Worth, Texas, (NYSE: XTO) has acquired assets in North Texas from multiple undisclosed parties for approximately $550 million.

The assets include 24,000 net acres in the Barnett shale, with 300 to 350 additional drilling locations. Production is approximately 25 million cubic feet of gas equivalent per day. Proved reserves are more than 200 billion cubic feet equivalent.

XTO president Keith A. Hutton says, "Over the past three years, we have grown our Barnett production at better than a 50% compounded rate, which continues to drive our ambitions to build-out XTO's footprint in the region. This group of acquisitions is the ideal bolt-on investment, focusing in areas of our strongest well performance. The related drilling inventory and upside potential extends our double-digit growth profile in the area."

XTO holds about 240,000 net acres in the Barnett shale, with approximately 50% situated in the core area.

Xynergy Corp., Carson City, Nev., (Pink Sheets: XYNG) plans to acquire a 50% working interest in up to four exploratory wells in Carter and Fallon counties, Montana, from Energy Partners LLC for an undisclosed price. The first well following drilling and completion is flowing at more than 220 barrels of oil per day.