--(www.USEquityNews.com)-- 07/28/2008 - Oil and Gas Exploration industry alert provided by U.S. Equity News. ROYAL ENERGY RESOURCES, Inc. (OTCBB: ROYE) is pleased to announce that the Company now owns a 3% overriding royalty interest in Platte & Goshen County, Wyoming. The overriding royalty interest encompasses over 360 mineral acres, and the oil and gas production will be developed by Carpenter & Sons, a Casper, Wyoming based company. "The field in Platte & Goshen County, Wyoming marks our third acquisition in Wyoming of oil and gas mineral rights. Teaming up with industry leaders like Carpenter & Sons is important in achieving early success in our gas production revenue future," stated Jacob Roth, President, Royal Energy Resources, Inc.
Northern Offshore, Ltd has entered into agreements with affiliates of Transocean, Inc. (NYSE: RIG) to acquire the semisubmersible drilling rigs GSF Arctic II and GSF Arctic IV currently operating in the U.K. North Sea (collectively the "Rigs"). The total acquisition price for the two rigs is approximately US$750 million. The purchase of the GSF Arctic IV is expected to close in the third quarter of 2008 and the purchase of the GSF Arctic II is expected to close in the fourth quarter of 2008, following completion of existing contract commitments.
Gulf Island Fabrication, Inc. (NASDAQ:GIFI), announced that its board of directors declared a dividend of $0.10 per share on Gulf Island Fabrication, Inc.'s approximately 14.3 million shares of common stock outstanding. The dividend was declared during a regular meeting of the board held on July 25, 2008 and is payable August 19, 2008, to shareholders of record on August 7, 2008. Gulf Island Fabrication, Inc., based in Houma, Louisiana, is a leading fabricator of offshore drilling and production platforms, hull and/or deck sections of floating production platforms and other specialized structures used in the development and production of offshore oil and gas reserves.
Indigo-Energy, Inc. (OTCBB: IDGG) is pleased to announce that the Company has signed a Loan Agreement with BJ Petro, Inc., a Nevada corporation. BJ Petro has agreed to provide Indigo-Energy, Inc. with funds totaling $686,400,000, which the Company plans to utilize to complete the purchase of and commence the subsequent development of approximately 135,000 acres located in southern Illinois, southwestern Indiana and western Kentucky. The agreement provides that Indigo-Energy will receive the initial phase of funding within 30 business days following its posting of a Standby Letter of Credit (SBLC) to BJ Petro in the amount of $10 million, which Indigo-Energy expects to deliver by the end of this week. The term of the funding agreement with BJ Petro is 15 years.
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