--(www.USEquityNews.com)-- 03/13/2008 - Oil and Gas Exploration industry alert provided by U.S. Equity News. Teton Energy Corporation ("Teton" or the "Company") (AMEX: TEC) announced recently that its subsidiary, Teton DJCO, LLC, has entered into a seismic earning agreement with T. H. McElvain Oil & Gas Limited Partnership ("McElvain"), in Yuma County, Colorado. McElvain has begun acquisition of 25 square miles of 3D seismic data, at 100 percent cost to McElvain, to earn a 60 percent interest in Teton's acreage. Teton is contributing approximately 28,000 net acres and McElvain is adding approximately 3,300 net acres to the project.
FX Energy, Inc. (NASDAQ: FXEN) recently announced that a technical presentation by Richard Hardman will be held in Boston on Thursday April 10, 2008. Mr. Hardman is a Director and Senior Technical Advisor for FX Energy. The presentation will focus on the Company's exploration and development projects in Poland and will begin at 12:15 p.m. Eastern. Individuals interested in attending the meeting in person should contact the Company as space is limited.
Researched by Industrial Info Resources (Sugar Land, Texas) -- StatoilHydro Canada Limited (Calgary, Alberta), the Canadian business unit of StatoilHydro ASA (NYSE: STO) (ADR) (Stavanger, Norway), is studying options to construct a three-phase 250,000-barrel-per-day bitumen upgrader. The upgrader will be located 70 kilometers south of Fort McMurray, Alberta. StatoilHydro has chosen Foster Wheeler (Houston, Texas) and WorleyParsons (Monrovia, California) to perform front-end engineering design work for Phase I, which is being designed to process 80,000 barrels per day of bitumen.
MegaWest Energy Corp., an independent oil and gas company (OTCBB: MGWSF), specializing in non-conventional oil and gas projects with a focus on North American heavy oil, announced recently that it has completed its continuance into Alberta from British Columbia. The Company had sought and obtained shareholder approval at its annual and general meeting of shareholders on October 29, 2007 to move the Company to Alberta. MegaWest owns or has the right to earn an interest in over 115,000 acres in Kansas, Missouri, Kentucky, Texas and Montana.
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