Kostolanys Erbe Rohstoff Thread

[Kostolanys Erbe]

Barisan Gold to sell 75% of PT Takengon

2013-03-04 09:57 ET - News Release


Mr. Alex Granger reports

BARISAN GOLD TO SELL COLLINS PROSPECT

Barisan Gold Corp. has entered into a conditional sales and purchase agreement with a private Indonesian company whereby the private Indonesian company has agreed to purchase Barisan Gold's 75-per-cent equity interest in PT Takengon Mineral Resources. PT Takengon Mineral Resources owns the Takengon exploration izin usaha pertambangan, which includes the Collins epithermal gold prospect. PT Takengon Mineral Resources is separate from the company's two key investments, PT Gayo Mineral Resources (which contains the Barisan porphyry prospects) and PT Linge Mineral Resources (which contains the Abong epithermal gold deposit).

As per the terms of the CSPA, the private Indonesian company will pay Barisan Gold a total of 7.25 billion Indonesian rupiah (equivalent to approximately $770,000). One billion rupiah has been deposited in escrow already in the company's bank account. Another 5.25 billion rupiah will be paid upon closing of the transaction, and the final one billion rupiah will be payable one year after closing and secured by a certain number of shares in PT Takengon Mineral Resources transferred under the CSPA. Closing of the transaction is subject to a number of regulatory approvals in Indonesia, and the deal is expected to close toward the end of the second calendar quarter of 2013.

Pro forma for this transaction, Barisan Gold would have had approximately $6-million in cash at Jan. 31, 2013. This represents 15 cents per share of cash in the bank, a 100-per-cent premium to the current share price of the company. With a very conservative cash burn rate, Barisan Gold is well positioned to have sufficient funds on hand to conduct the next phase of drilling at both the Abong epithermal gold deposit and the Barisan porphyry prospects when forestry borrow-use permits are issued.

Alex Granger, chief executive officer of Barisan Gold, commented: "This transaction represents a great opportunity for Barisan Gold to realize value for a non-material property. In addition to eliminating the ongoing costs of maintaining the Takengon IUP, we are also solidifying our balance sheet ahead of restarting drilling at the Abong project and the Barisan porphyry prospects once we receive the forestry borrow-use permits."

During the December, 2012/January, 2013, period, Barisan Gold drilled four exploratory holes at the Collins prospect to test the continuity of the veins identified at surface with grade and depth. Results of the drilling campaign were disappointing as they did not return the projected grade and width of the veins at depth.

Dibiansyah Hamid, MAIG, the designated qualified person within the meaning of National Instrument 43-101, has reviewed and approved the content of this release.


http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aBG-2045776&symbol=BG&region=C

Kostolanys Erbe schrieb am 20.02.2013, 20:35 Uhr[/url]"]Barisan Gold receives extension to Indonesian IUP

2013-02-20 08:47 ET - News Release


Ms. Kristy Reynolds reports

BARISAN GOLD COMPLETES EXTENSION OF EXPLORATION LICENSES

Barisan Gold Corp. wishes to inform shareholders that its majority-owned Indonesian subsidiary, PT Gayo Mineral Resources, has received an extension to its exploration izin usaha pertambangan (IUP). The IUP has been extended until March 5, 2015. This, combined with the two IUPs extended in December, 2012 (see news release dated Dec. 24, 2012), completes the IUP extension process for all the company's exploration licences in Indonesia.

The Gayo IUP is 80 per cent owned by Barisan Gold and is solely operated by the company. The IUP contains the Upper Tengkereng, Lower Tengkereng, Upper Ise-Ise and Sekeulen gold-copper porphyry prospects. Gayo continues to work with local government authorities seeking forestry borrow-use permits, which would allow it to resume drilling at Upper Tengkereng and other gold-copper porphyries.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aBG-2041368&symbol=BG&region=C

Kostolanys Erbe schrieb am 06.02.2013, 22:51 Uhr[/url]"]Neuvorstellung: Barisan Gold


Marketcap: 4 Mio. CAN$

cash: 5,8 Mio. CAN$ lt. Sedar Bericht zum 30.11.2012

shares out: 40,8 Mio.



Also, gibt es im Moment die Projekte gratis und die Insider kaufen seit Wochen....



Feb 1/13 Jan 30/13 Granger, Alex Direct Ownership Common Shares 10 - Acquisition in the public market 55,000 $0.100

Jan 13/13 an 11/13 Dyczkowski, Karen Direct Ownership Common Shares 10 - Acquisition in the public market 11,000 $0.090

Jan 7/13 Jan 3/13 Nayyar, Michael Direct Ownership Common Shares 10 - Acquisition in the public market 21,000 $0.100

Jan 3/13 Jan 2/13 Dyczkowski, Karen Direct Ownership Common Shares 10 - Acquisition in the public market 10,500 $0.095

Dec 19/12 Dec 17/12 Nayyar, Michael Direct Ownership Common Shares 10 - Acquisition in the public market 20,000 $0.090

Dec 10/12 Dec 7/12 Nayyar, Michael Direct Ownership Common Shares 10 - Acquisition in the public market 12,500 $0.150

Dec 4/12 Nov 30/12 Granger, Alex Direct Ownership Common Shares 10 - Acquisition in the public market 28,000 $0.100

Nov 8/12 Nov 7/12 Dyczkowski, Karen Direct Ownership Common Shares 10 - Acquisition in the public market 6,500 $0.150

Nov 7/12 Nov 6/12 Nayyar, Michael Direct Ownership Common Shares 10 - Acquisition in the public market 12,500 $0.150

Nov 5/12 Nov 2/12 Granger, Alex Direct Ownership Common Shares 10 - Acquisition in the public market 18,000 $0.150

http://canadianinsider.com/node/7?menu_tickersearch=bg



http://www.barisangold.com/s/Home.asp


Barisan Gold is a Canadian-based, publicly-traded gold-copper porphyry exploration company which is listed on the Toronto Venture Exchange (TSXV:BG). It is engaged in the exploration, acquisition and development of mineral properties in Indonesia and currently owns and operates a number of gold and gold-copper properties in Indonesia's Aceh Province on the northern tip of Sumatra Island. Projects on these properties include 6 identified gold-copper porphyries in the Barisan porphyry belt, the Abong epithermal gold deposit and the Takengon gold & copper porphyry prospect.


» zur Grafik




letzte news:

December 24, 2012
Barisan Gold Extends Two of its Exploration Licenses


VANCOUVER, B.C. -- December 24, 2012 -- Barisan Gold Corporation (TSXV-BG) wishes to inform shareholders that that two of its majority-owned Indonesian subsidiaries, PT Linge Mineral Resources ("Linge") and PT Takengon Mineral Resources ("Takengon"), have received extensions to their Exploration Izin Usaha Pertambangan ("IUP"). The two IUPs have been extended until December 28, 2014. Exploration IUPs are exploration licenses, which allow their owners the right to conduct mineral exploration on the ground they cover, subject to other relevant permits, government and local approvals, if applicable. Exploration IUPs are granted for up to a total period of eight years, covering one year for general surveys, three years for exploration, extendable for one year, with a maximum extension of twice the respective extension period, and one year for a feasibility study, extendable for one year, following which they must either be relinquished or upgraded to Production-Operation IUPs.

The Linge IUP is 80% owned by Barisan Gold and is solely operated by the Company. The IUP contains the Abong gold deposit which at a 0.4g/t gold cut-off, has an estimated an NI 43-101 compliant inferred resource of 8.5 million tonnes of 1.49g/t gold and 10.7 g/t silver, containing 405,000 ounces of gold and 2.9 million ounces of silver. The IUP also contains the Bahu, Middle Ise-Ise and Lower Ise-Ise gold-copper porphyry prospects. Linge continues to work with local government authorities seeking forestry borrow-use permits, which would allow Linge to resume drilling at Abong and other gold-copper porphyries.

The Takengon IUP is 75% owned by Barisan Gold and is solely operated by the Company. The IUP contains the Collins epithermal gold prospect as well as the Semelit, West Semelit and Tanga gold-copper porphyry prospects.

Barisan Gold also wishes to advise that it has just begun exploratory drilling at the Collins epithermal gold prospect, located within the Takengon IUP. The previous owner of the project had conducted mapping and sampling at Collins over the past few years, the results of which were positive and identified narrow high-grade gold veins at surface. Recent mapping by Barisan Gold has confirmed and has re-defined at least two sub-parallel quartz vein zones which contain high grade gold besides a low grade 1.6-3.2 meter wide main quartz vein. The Collins prospect is located in Areal Penggunaan Lain ("APL"), which means an area that is not classified as forest pursuant to a decree of the Ministry of Forestry. The initial program consists of 2,000 meters of drilling to test the continuity of the veins with grade at depth. The initial drilling program is expected to cost less than $300,000 and will count towards the work commitment under the Takengon IUP documentation. Barisan Gold strives to conduct economically sensible drilling that targets high probability targets while conserving the Company's financial resources.

Dibiansyah Hamid, MAIG, the designated QP within the meaning of NI 43-101, has reviewed and approved the content of this release.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To receive or stop receiving BG news via email, please email info@barisangold.com and state your preference in the subject line.

FOR FURTHER INFORMATION, visit the Company's website at www.barisangold.com, or contact:

Kristy Reynolds,
Investor Relations
Vancouver
T: +1 604 684 2183
E: reynolds@barisangold.com




http://www.barisangold.com/s/NewsReleases.asp?ReportID=563411&_Type=News-Releases&_Title=Barisan-Gold-Extends-Two-of-its-Exploration-Licenses



Leider ist die letzte Unternehmenspräsentation von März 2012:

http://www.barisangold.com/i/pdf/CorporatePresentation.pdf



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[Kostolanys Erbe]

PNG Gold drills 5.2 m of 29.35 g/t Au at Imwauna Main

2013-03-12 09:43 ET - News Release


Mr. Greg Clarkes reports

PNG GOLD CORPORATION ANNOUNCES DRILL ASSAYS AT THE IMWAUNA MAIN STRUCTURE

PNG Gold Corp. has released gold and silver assay results from 11 diamond drill holes from the Imwauna Main structure in the Henry zone area.

The relevant table highlights the assay results of hole IMH-275, which contains highly prospective gold grades that are typical of low-sulphidation epithermal deposits and are known to occur along the Imwauna Main structure based on previous drilling programs. Drilling is continuing along two of five known areas along the Imwauna Main structure that host similar grades. Since November, 2012, the company has drilled 48 diamond drill holes for a total of 11,394 metres at the Imwauna Main structure. Only partial assay results have been received for several of the holes as noted in the relevant table.


HIGHLIGHTED HOLE

Hole ID From To Length Gold Silver
(m) (m) (m) (g/t) (g/t)

IMH275 185.50 190.70 5.20 29.35 +41.27
incl. 185.50 187.70 2.20 66.97 +71.45
and 185.50 186.00 0.50 140.00 Greater than
100


Silver assays are still pending for this hole.

Imwauna Main structure key points:


Hosts low-sulphidation epithermal gold/silver mineralization;
Highly prospective gold/silver mineralization contained in hydraulically brecciated quartz veins;
Drilling has now tested the Imwauna Main structure below 250 metres from surface;
Continuity of the Imwauna structure remains strong;
Mineralization appears to be plunging moderate to steeply south shoots as predicted;
Drilling to date has only tested two of several known highly prospective shoots;
Two diamond drills continue to drill test along the structure and to depth;
Assay results pending on approximately 30 drill holes.

Drill hole orientation and PIMA surveys of the alteration and mineralization of the Imwauna structure assist in determining each zone's orientation and theoretical level of the epithermal mineralization. There are indications that the Imwauna structure's mineralization may also be exploiting low-angle structures closely related to bedding orientation.

Assay results received are shown in the relevant table.


DRILL RESULTS

Hole ID From To Length Gold Silver Comments
(m) (m) (m) (g/t) (g/t)

IMH263 43.00 43.80 0.80 0.09 4.00
IMH264 60.00 63.00 3.00 3.60 +32.20 Silver assays pending
incl. 62.00 62.50 0.50 9.22 Greater Silver assays pending
than 100
IMH265 72.00 80.00 8.00 1.40 8.38
incl. 72.00 75.14 3.14 2.14 10.10
and 72.00 73.00 1.00 4.37 8.00
IMH266 186.30 188.50 2.20 1.59 2.00
IMH267 135.55 136.05 0.50 0.08 14.00
and 144.80 145.60 0.80 1.39 5.00
IMH268 149.30 154.05 4.75 4.46 10.68
incl. 150.00 151.30 1.30 11.90 16.00
IMH269 211.00 212.50 1.50 2.18 2.00
IMH270 172.50 174.35 1.85 2.83 5.68
incl. 172.50 173.00 0.50 8.34 14.00
IMH271 226.90 229.00 2.10 6.56 5.62
IMH272 194.50 195.00 0.50 187.00 Greater Assays still pending
than 100 for most of the zone
IMH275 185.50 190.70 5.20 29.35 +41.27 Silver assays pending
incl. 185.50 187.70 2.20 66.97 +71.45 Silver assays pending
and 185.50 186.00 0.50 140.00 Greater Silver assays pending
than 100


Composite widths are core lengths. The Imwauna structure dips generally steeply west.

Qualified person

Lorne Warner, PGeo, chief operating officer of PNG Gold, is a qualified person in accordance with National Instrument 43-101, and has reviewed and approved the technical information contained in this news release.

All core samples are cut in half on site and sent to the company's Alotau office for direct shipment to the Intertek (ITS (PNG) Ltd.) laboratory in Lae, Papua New Guinea, an ISO/LEC 17025-certified laboratory. Gold analysis is completed by a 50-gram charge and fire assay/atomic absorption spectrometry, and for silver a 50-gram charge using two-acid AAS. The company inserts a standard blank and requests a duplicate sample be run in every batch of 20 samples. In addition, the lab inserts in-house blanks, standards and duplicates with each shipment. Data that fall outside the control limits are checked and repeated as necessary.

EL 1091 Normanby-Imwauna flagship project

The Normanby exploration licence -- EL 1091 -- is located on the north side of Normanby Island, approximately 80 kilometres northeast of Alotau, the provincial capital of Milne Bay province, eastern Papua New Guinea. The project consists of the main prospect, Imwauna, and includes Kelas and numerous untested prospects. The flagship Imwauna gold deposit is a high-grade, near-surface, low-sulphidation, epithermal vein gold system. Gold mineralization ranges from 0.5 metre to six metres in the Imwauna Main structure. The Imwauna prospect remains open in the north and south at strike and at depth.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aPGK-2048149&symbol=PGK&region=C

Kostolanys Erbe schrieb am 27.02.2013, 20:51 Uhr[/url]"]...na so langsam Ausverkaufsstimmung! Volumen!

Recent Trades - Last 10 of 28
Time ET Ex Price Change Volume Buyer Seller Markers
14:18:23 V 0.125 -0.015 20,000 33 Canaccord 33 Canaccord K
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12:27:29 V 0.125 -0.015 25,000 33 Canaccord 1 Anonymous K
11:39:38 V 0.14 2,000 7 TD Sec 33 Canaccord K
11:27:16 V 0.125 -0.015 113,000 33 Canaccord 9 BMO Nesbitt K
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11:20:30 V 0.125 -0.015 40,000 7 TD Sec 9 BMO Nesbitt K
11:20:16 V 0.125 -0.015 100,000 2 RBC 9 BMO Nesbitt K
11:19:00 V 0.125 -0.015 100,000 33 Canaccord 9 BMO Nesbitt K
11:18:18 V 0.125 -0.015 100,000 33 Canaccord 9 BMO Nesbitt K


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Kostolanys Erbe schrieb am 25.02.2013, 22:07 Uhr[/url]"]PNG Gold buys four drills at Normanby Island

2013-02-25 09:38 ET - News Release


Mr. Greg Clarkes reports

PNG GOLD CORPORATION CORPORATE UPDATE

PNG Gold Corp. has released its corporate objectives for 2013 and achievements since its new management took direct control over operations in the second quarter of 2012.

Management took over operations from a previously contracted third party in order to achieve greater direct control over its Normanby Island projects in Papua New Guinea. The transition is now complete, which has resulted in a substantially lower cost per metre drilled for the company's projects. The restructuring has also provided the company with the necessary infrastructure, relationships and flexibility to efficiently operate and assess the vast mining and exploration opportunities in Papua New Guinea, differentiating the company among its exploration peers.

Since the change in operational control in the second quarter of 2012, PNG Gold realized the following:


Purchased four new diamond drills in order to retain corporate control and reduce drilling costs by approximately half of last year's contracted rate;
Completed the 2012 drill program consisting of 9,668 metres in 40 holes at the Imwauna and Kelas prospects, of which the majority were completed in fourth quarter 2012;
Developed the first detailed geological model on the Imwauna Main structure;
Restarted the entire operation including hiring of operations team at the Alotau office and operations camp; ceased to utilize a third party's operations office in Brisbane, Australia, in order to attain more direct control of operations, minimize the use of consultants and significantly reduce administrative costs at the company's Alotau office;
Completed the construction and equipped a 100-plus-person modern camp in third quarter 2012;
Hired country manager Marc Plante, a qualified mining manager experienced in logistics, for major projects around the world;
Hired key structural geologist Dr. Guowei Zhang in order to begin defining the structural controls to mineralization at the Imwauna and Kelas prospects;
Hired local community representatives to liason community projects, including continuing medical, educational and clean water programs;
Completed an environmental impact assessment and environmental monitoring study;
Anticipating final assay results from first shipments of the Imwauna Main structure in the coming weeks.

The company's chief operating officer Lorne Warner stated: "Our achievements in 2012 have put us in a strong position to implement our future corporate objectives, and we look forward to taking further steps to fulfilling our corporate mission to become a sustainable gold exploration and development company focused on Papua New Guinea. The company is committed to aggressively exploring the Imwauna Main structure in order to define the geometry of several of the high-grade gold zones situated along the structure as outlined in the geological model. PNG Gold plans to be able to define the high-grade gold mineralization with the objective of undertaking a National Instrument 43-101 resource study. We will also complete systematic exploration in 2013, including diamond drilling of our other gold zones and prospects situated on our mineral claims."

Details of 2012 milestones


The company purchased four new diamond drills, two of which have capacity to drill 1,000 plus metres of HQ core, which were delivered between third quarter 2012 and first quarter 2013. The objective of purchasing drills was to retain corporate control and reduce drilling costs by approximately half of last year's rate. Two of the drills are also capable of working underground and on helicopter-assisted drilling programs.
As part of PNG Gold's mandate to build necessary infrastructure, the company has also purchased an additional D5 bulldozer and four all-terrain vehicles, in addition to upgrading the site access road for all-weather access, in order for drill work to continue through the heavy rainy season.
As part of the 2012 drill program, the Imwauna Main structure was drilled to test the newly developed geological model, continuity and depth extent of gold mineralization. Results for drilling at the Imwauna prospect will be released on a timely basis. The company's 2012 drill program consisted of 9,668 metres in 40 holes at the Imwauna and Kelas prospect, of which the majority were completed in fourth quarter 2012. As part of the 2012 drill program, the Kelas prospect was drill tested to better define its structural orientation and potential relationship to the Imwauna structure mineralization.
The company completed the construction, equipped and staffed the 100-plus-person-capacity modern camp in third quarter 2012. The main road from the coastline to camp is currently being upgraded to an all-weather status for tired vehicles to use during the rainy season.
The company restarted the entire operation including the hiring of the operations team at the Alotau office and operations camp. The company ceased to utilize a third party's operations office in Brisbane, Australia, in order to attain more direct control of operations, minimize the use of consultants and significantly reduce administrative costs at the company's Alotau office.
The company hired Mr. Plante as country manager. Mr. Plante brings over 15 years of drilling industry experience, primarily as a project manager and in logistics for major projects around the world, including as logistics manager at Boart Longyear, and project manager at Foraco Drilling. He has extensive management and supervisory experience in both surface and underground drilling. Mr. Plante has completed underground driller, surface driller, driller trainer and generic supervisor training at the Norcat School of Mining.
The company also hired Dr. Zhang as vice-president, technical services. Dr. Zhang brings over 30 years of international experience in the mining industry and has been responsible for the development of structural models at a series of gold mines in Canada.
PNG Gold also hired two local representatives to be liaisons on community projects, including its continuing medical, educational and clean water programs.

Drilling program and rig deployment for 2013

Geological interpretation of the Imwauna Main structure and interpreted gold mineralization along the structure by using historic and recent drilling indicate that drilling needs to continue at 25-metre-by-25-metre intervals where high-grade gold mineralization is anticipated. PIMA studies of the recent drill core are helpful in determining the alteration assemblages associated with the gold mineralization and anticipated depth to which mineralization may extend. The company expects focus on two of five potential zones along the structure to determine the depth potential of gold mineralization, and provide sufficient data to develop a reliable resource estimate.

It is anticipated that rigs 3 and 4 will be assigned for the foreseeable future to Imwauna on a full-capacity basis. As a result, running rigs 3 and 4 should produce approximately 4,000 metres per month of drilling at Imwauna. Rigs 1 and 2 are lighter than rigs 3 and 4 and consequently can be flown and are built to operate underground. Until they are required for underground drilling on Imwauna, they are needed to fill a number of imperative functions. Primarily, rigs 1 and 2 will be used to explore untested known gold anomalies throughout the El 1091 Normanby and EL 1069 Sehulea projects. These drills will also allow for minimal drilling interruption at Imwauna in the case of equipment failure. In addition, rigs 1 and 2 provide the opportunity for a dedicated training program of national drillers without impacting the Imwauna output. The benefit of training national drillers is clear in terms of community and government relations but is expected to further reduce drilling costs in the future. Training is expected to add to core output in the short term as these rigs can be deployed in other areas, such as Sehulea, without affecting drill rates at Imwauna, allowing the company to meet its other licence commitments.

Financial update

The company expects to minimize capital expenditures in 2013 and manage its cash balance by scaling its drilling and administrative operations as circumstances dictate, in order to remain in a financially flexible position. Since filing the company's Sept. 30, 2012, financial statements, the company has drilled over 10,000 metres with purchased drill rigs and concluded a baseline environmental study.

The investments made to date in equipment and rigs have reduced cost per metre drilled to less than half of that previously paid to an Australian contractor last year. Based on the company's plan to drill approximately 4,000 metres per month, combined with the savings in drilling costs already achieved to date, the company expects further reductions in drill costs to fully achieve payback of its investment in drill rigs by the end of the second quarter in 2013.

Exploration and mining in Papua New Guinea

Papua New Guinea's reliance on gold is significant as measured in terms of the value of gold produced as a percentage of GDP. According to Papua New Guinea's Mineral Resource Authority (MRA), mining has been the most significant contributor to the country's economy since 1973. Mining products, primarily gold, are currently the country's top mining exports, according to the Australian Minister of Foreign Affairs (November, 2012). Papua New Guinea is a pre-eminent gold-producing region as evidenced by such publications as the U.S. Geological Survey's January, 2012, mineral commodity summaries which estimate that the country has more gold in the ground compared with Canada and current production approaching that of Mexico. Because of its importance, gold exploration and development are welcome and the government makes every effort to encourage active exploration companies.

Papua New Guinea offers a growing economy favourable to mining companies, with real GDP growth rate in 2012 expected to be approximately 8 per cent. In addition to a growing economy, the country was ranked by the Fraser Institute's annual survey of mining companies 2011-2012 as the third best jurisdiction in the world for policy and mineral potential in 2012, suggesting a sound political landscape for fostering the success of mining companies in the area.

About the Normanby Island project

EL 1091 Normanby -- Imwauna flagship project

The Normanby exploration licence -- EL 1091 -- is located on the north side of Normanby Island, approximately 80 kilometres northeast of Alotau, the provincial capital of Milne Bay province, eastern Papua New Guinea. The project consists of two main prospects, Imwauna and Kelas, along with numerous untested prospects. The flagship Imwauna gold deposit is a high-grade, near-surface, low-sulphidation, epithermal vein gold system. Gold mineralization ranges from 0.5 metre to six metres in the Imwauna Main structure. The Imwauna prospect remains open in the north and south at strike and at depth.

EL 1069 Sehulea

The Sehulea exploration licence -- EL 1069 -- is located northeast of Imwauna on Normanby Island and contains several low-sulphidation epithermal gold deposits which require additional drill testing. Previous results indicate the area contains extensive lower-grade gold mineralization over intercepts of up to 60 metres core length with grades ranging between one and two grams per tonne gold. Mineralization is associated with extensive silicification, disseminated and semi-massive pyrite, with a positive correlation between higher pyrite concentrations and gold.


http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aPGK-2042629&symbol=PGK&region=C

CCG-Redaktion schrieb am 06.12.2012, 17:20 Uhr[/url]"]Plus 9% mit kleinem Volumen!

CCG-Redaktion schrieb am 06.12.2012, 12:31 Uhr[/url]"]PNG Gold drills three m of 10.72 g/t Au at Imwauna

2012-11-28 09:34 ET - News Release


Mr. Greg Clarkes reports

PNG GOLD CORPORATION ANNOUNCES DIAMOND DRILL HOLE RESULTS: 10.72 G/TONNE GOLD OVER 3.0 METRES

PNG Gold Corp. has released drill core assay results and recent geological modelling from its 2012 exploration program at the Imwauna structure, located on Normanby Island, Milne Bay province, in eastern Papua New Guinea.

Three diamond drills are currently on site with a fourth arriving next month. The company has planned to complete 21 additional holes totalling 4,665 metres on the Imwauna structure by Dec. 15, 2012, with plans to continue drilling over the holiday season.


HIGHLIGHTS
Core
Hole No. From To length Gold
(m) (m) (m) g/tonne

IMH259 151.6 154.6 3.0 10.72


Details of assay results of diamond drill holes IMH-259 to 262 are located in an attached table.

Imwauna structure -- points of interest

The assay results from these four drill holes disclosed in this press release show encouraging results as they begin to support the geological model. Geological modelling has identified moderate south-plunging, high-grade gold zones along the Imwauna structure. Attached to this news release is a diagram showing a grade-times-thickness longitudinal section along the Imwauna structure, with the Henry and Klink zones identified. Drilling is now under way in these zones to trace the mineralization to depth.

The Henry and Klink zones have previously reported drilling intercepts, as shown in an attached table.


Henry zone Klink zone

Hole IMH No. g/tonne Au Metres Hole IMH No. g/tonne Au Metres

050 16.66 1.7 094 9.50 4.6
051 22.46 2.1 101 5.90 4.9
082 36.16 5.6 163 108.00 0.4
084 10.64 2.3 174 13.98 3.0
091 21.10 3.8 204 13.11 7.4
172 34.26 2.6 215 8.16 6.3
217 32.10 1.4
218 49.86 4.0 Composite intervals are core lengths
253 111.97 6.0


About the Imwauna structure


South-southwest-trending Imwauna structure is over 2.0 kilometres long, dipping steeply 80 to 90 degrees west and remains open along strike.
Previous drilling has located six zones of moderate, south-plunging high-grade gold mineralization.
All six zones remain open to depth.
Geological setting is a bonanza gold, epithermal, low-sulphidation system.
PIMA studies of drill core indicate an illite group alteration assemblage of illite, smectite and quartz with a moderate pH level silver greater than gold system.
Zones are typically one to four metres wide, hydrothermal and hydraulic brecciated, with vuggy quartz veining present.
Pyrite content 1 per cent, minor arsenopyrite, traces of chalcopyrite and visible gold do occur.
Previous work using fluid inclusions suggest source of fluids from south and at depth.
Recent drilling is providing indications of zone width and thickness increasing with depth.

Kela's prospect

In addition to the drill program under way at the Imwauna structure, a seven-hole program totalling 1,852 metres has been completed on the Kela's prospect area. The purpose of the program is to locate the previously untested structure and defining its orientation as it appears to be dipping moderately to the east, toward the Imwauna structure. Low-sulphidation epithermal veining was encountered in most holes. Further drilling may be undertaken once assay results are received and the data compiled.


IMWAUNA ASSAY RESULTS -- IMH 259-261

Core
Hole Elev. From To Length Au Ag
ID (m) (m) (m) (m)(i) (g/t) (g/t)

IMH259 540 151.60 154.60 3.0 10.72 25.4
(ii)IMH
260 570 244.95 246.45 1.5 0.23 6.6
IMH261 505 147.3 148.4 1.1 10.35 56.5
(ii)IMH
262 518 173.4 174.4 1.0 1.14 2.6

(i) Core lengths are not true thicknesses.
(ii) Did not reach Imwauna structure.


Core logging, sampling and assaying procedures

All holes drilled by PNG Gold are collared using HQ triple-tube drill tools. A few holes have been reduced to NQ size at depth in the hole in order to continue the hole. Geotechnical measurements such as core recovery, fracturing and veining, rock quality designations (RQD), hardness and photographic logging are performed systematically prior to sampling and assaying. The core is logged, samples selected by PNG Gold geologists then systematically sawn in half at the site. The one-half core sample is numbered, sealed in a bag and delivered by PNG Gold to its base in Alotau where the samples are palletized and placed in secure storage prior to shipment to ALS Minerals in Townsville, QLD. The other half of the core is retained at the site.

Core samples are dried, crushed and pulverized to 85 per cent passing through a 75-micron mesh. The pulps are assayed for gold and silver using a 50-gram split, fire assay (FA) and atomic absorption (AA) finish. Samples grading over 100 parts per million Au are subjected to a fire assay with gravimetric finish. Analyses were also carried out for the trace elements arsenic and lead. Rejects and pulps are stored at the lab for future reference.

Quality assurance/quality control (QA/QC)

The ALS Minerals lab is an International Organization for Standardization (ISO) 9001:2008-qualified assayer that performs and makes available internal assaying controls. Duplicates, certified standards and blanks are systematically used as part of PNG Gold's QA/QC program. The company also inserts blind standards with each sample batch at the rate of about 1 for 10. Periodically duplicate pulps are assayed at a second independent certified assay lab. The duplicate assays are compared with original assays for reproducibility and lab bias.

Qualified person

Lorne Warner, PGeo, chief operating officer of PNG Gold, is a qualified person in accordance with National Instrument 43-101, and has reviewed and approved the technical information contained in this news release.

Credit agreement with New Guinea Gold Corporation

Pursuant to the previously announced credit agreement dated March 7, 2012, between the company and New Guinea Gold (NGG), the company granted NGG a credit facility in the original principal amount of $1-million bearing interest of 8 per cent per annum compounded monthly. The company and NGG have now concluded settlement of the indebtedness with the cancellation of 2,880,953 of the company's common shares owned by NGG and pledged as security for the indebtedness at a deemed price of 20 cents per share, and the payment of $481,069.37 in cash. The indebtedness having been fully repaid, the company has released or will release all security interests granted by NGG in respect of the indebtedness.

About the Imwauna gold deposit

The Imwauna exploration licence -- EL 1091 -- is located on the north side of Normanby Island, approximately 80 kilometres northeast of Alotau, the provincial capital of Milne Bay province, eastern Papua New Guinea. Alotau is serviced by daily flights from Port Moresby, the national capital, and scheduled coastal freighters. PNG Gold maintains a logistics base in Alotau to supply the Normanby Island site.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aPGK-2019473&symbol=PGK&region=C

Kostolanys Erbe schrieb am 19.09.2012, 20:39 Uhr[/url]"]Insiderkäufe & Geduld

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Kostolanys Erbe schrieb am 08.06.2012, 09:28 Uhr[/url]"]Weiter unter Cashbestand (ca. 30 Mio. CAN$)!
Marketcap. ca. 23 Mio. CAN$

Weitere Insiderkäufe!

http://canadianinsider.com/node/7?menu_tickersearch=pgk

Kostolanys Erbe schrieb am 30.04.2012, 21:13 Uhr[/url]"]Volumen !!!

Insider !!!

http://canadianinsider.com/node/7?ticker=PGK


Apr 26/12
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Detmold, John Direct
Ownership Common Shares 10 - Acquisition in the public market 244,000 $0.180

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Detmold, John
Direct Ownership Common Shares 10 - Acquisition in the public market 56,000 $0.175

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Direct Ownership Common Shares 10 - Acquisition in the public market 28,000 $0.190

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Direct Ownership Common Shares 10 - Acquisition in the public market 13,000 $0.185

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Direct Ownership Common Shares 10 - Acquisition in the public market 30,000 $0.175

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Direct Ownership Common Shares 10 - Acquisition in the public market 221,000 $0.170

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Direct Ownership Common Shares 10 - Acquisition in the public market 135,000 $0.170

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Detmold, John
Direct Ownership Common Shares 10 - Acquisition in the public market 30,000 $0.175

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Detmold, John
Direct Ownership Common Shares 10 - Acquisition in the public market 24,000 $0.180


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Kostolanys Erbe schrieb am 26.04.2012, 19:20 Uhr[/url]"]:shock: VOLUMEN !!!!

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Kostolanys Erbe schrieb am 13.04.2012, 19:28 Uhr[/url]"]PNG Gold drills six m of 112 g/t Au at Imwauna

2012-04-13 11:18 ET - News Release


Mr. Lorne Warner reports

PNG GOLD CORPORATION ANNOUNCES DIAMOND DRILL HOLE RESULTS: 112 G/TONNE GOLD OVER 6.0 METRES

PNG Gold Corp. has released assay results from its 2011 exploration program at the Imwauna gold project, located on Normanby Island, Milne Bay province, eastern Papua New Guinea.

Highlights are shown in the attached table.



Core
Hole No. From To length Gold
(m) (m) (m) (g/t)

IMH253 134.9 139.9 3.0 21.70
147.9 153.9 6.0 112
Including 147.9 151.9 4.0 162
Including 149.9 150.9 1.0 327


Points of interest:


Geological mapping of the Imwauna vein system has extended the system over two kilometres along strike and remains open.
Drilling has extended the zone to over 150 metres in depth and remains open.
The geological setting is an epithermal, low-sulphidation quartz vein system.
Mineralized veins consist of finely crystalline quartz, white to grey in colour, and display typical epithermal textures such as vugs, dog-tooth crystals and fine, chalcedonic layering.
Sulphides are rare to absent, although some deeper intersections contain a few per cent fine pyrite. Vein margins are often brecciated and resealed with silica.
Many vein systems on Imwauna including Kela's remain untested.
Based on results to date and the vein system's potential, PNG Gold is planning an aggressive drill program.

A summary of the gold-mineralized zones from the four drill holes is presented in the attached table. As with previous results, only minor amounts of sulphides are present and no visible gold has been reported even from the very high-grade samples.


IMWAUNA ASSAY RESULTS -- IMH 237, 248, 249 AND 253

Core
Hole ID From To length* Au Ag
(m) (m) (m) (g/t) (g/t)

IMH237 145.2 165.4 20.2(i) 28.72 71.8
IMH248 243.3 244.8 7.5 1.83 Pending
IMH249 108.7 108.7 0.7 2.22 Pending
IMH253 134.9 137.9 3.0 21.69 44.5
and 147.9 153.9 6.0 112 Pending
including 147.90 151.90 4.0 162
including 149.90 150.90 1.0 327

* Core lengths are not true thicknesses, which have
yet to be determined.
(i) Hole IMH237's sample interval from 149.6 metres to
150.40 metres has no assay result and is given a
value of zero.


The highlight from these holes is a very high-grade section of 112 grams per tonne gold over six metres in hole IMH 253 which includes four metres zone grading 162 grams per tonne gold and a one-metre zone grading 327 grams per tonne gold. This section confirms the high grades returned from IMH 237 which averaged 28.72 grams per tonne gold over a 20.2-metre-wide zone with multiple quartz veins.

The three additional holes on Section 10200 were drilled to produce better samples from this part of the deposit and to delineate the continuity of the high-grade material indicated by the initial results from IMH 237. It was felt these results needed to be repeated due to the broken, rubbly nature of the core and poor recoveries throughout the zone of veining.

IMH 248 was designed to undercut the veins intersected in IMH 237 while IMH 249 and IMH 253 were drilled to twin the IMH 237 section. IMH 248 intersected a 7.5-metre-wide zone of quartz veining, silicification and altered wall rocks but did not repeat the high values encountered in IMH 237. Drill hole IMH 249, drilled 6.5 metres away in an initial attempt to reproduce the grades intersected in IMH237, also returned very modest values, indicating that the zone is characterized by high local variation in grade and typical pinch-and-swell characteristics. Nevertheless, the second twin hole, IMH 253, confirmed and enhanced the high-grade results seen in IMH 237, with zones of three metres grading 21.69 grams per tonne gold and, 10 metres farther down the hole, a second zone of six metres grading 112 grams per tonne gold.

Further closely spaced drilling will be required to fully delineate the orientation of any high-grade zones within the deposit and assess the potential for extensions or repetitions either along strike or at depth.

The attached table lists assay results recently received of resampled one-quarter split samples from previously published diamond drill holes. The program was undertaken to check results published in the company's Feb. 9, 2012, and Feb. 29, 2012, news releases.


SAMPLE REANALYSIS

Core Original gold
Hole No. From To length Gold result
(m) (m) (m) (g/t) (g/t)

IMH218 56.2 60.2 4.0 49.86 12.55
Including 57.8 58.8 1.0 183 20.5
IMH238 66.4 67.9 1.5 8.32 9.54
IMH239 126.0 127.5 1.5 1.71 3.31
IMH240 179.1 179.9 0.8 1.90 2.30
IMH242 232.2 234.0 1.8 34.2 15.8
IMH245 55.2 56.1 0.9 7.92 16.9


Core logging, sampling and assaying procedures

All holes drilled by PNG Gold are collared using HQ triple-tube drill tools. A few holes have been reduced to NQ size at depth in the hole in order to continue the hole. Geotechnical measurements such as core recovery, fracturing and veining, rock quality designations (RQDs), hardness and photographic logging are performed systematically prior to sampling and assaying. The core is logged, and samples are selected by PNG Gold geologists then systematically sawn in half at the site. The one-half core sample is numbered, sealed in a bag and delivered by PNG Gold to its base in Alotau where the samples are palletized and placed in secure storage prior shipment to ALS Minerals in Townsville, Queensland. The other core half is retained on the site.

Core samples are dried, crushed and pulverized to 85 per cent passing through a 75-micron mesh. The pulps are assayed for gold and silver using a 50-gram split, fire assay (FA) and AA finish. Samples grading over 100 parts per million gold are subjected to a fire assay with gravimetric finish. Analyses were also carried out for the trace elements arsenic and lead. Results are available on the company's website. Rejects and pulps are stored at the lab for future reference.

Quality assurance/quality control (QA/QC)

The ALS Minerals lab is an ISO 9001:2008-qualified assayer that performs and makes available internal assaying controls. Duplicates, certified standards and blanks are systematically used as part of PNG Gold's QA/QC program. The company also inserts blind standards with each sample batch at the rate of about 1:10. Periodically duplicate pulps are assayed at a second independent certified assay lab. The duplicate assays are compared with original assays for reproducibility and lab bias.

Qualified person

Colin McKenzie, PGeo, chief operating officer of PNG Gold, is a qualified person in accordance with National Instrument 43-101, and has reviewed and approved the technical information contained in this news release.

About the Imwauna gold deposit

The Imwauna exploration licence, EL 1091, is located on the north side of Normanby Island, approximately 80 kilometres northeast of Alotau, the provincial capital of Milne Bay province, eastern Papua New Guinea. Alotau is serviced by daily flights from Port Moresby, the national capital, and scheduled coastal freighters. PNG Gold maintains a logistics base in Alotau to supply the Normanby Island site.

Historic exploration drilling has outlined gold mineralization over a strike length of at least 900 metres to an average vertical depth of about 100 metres. Widths range from 0.5 metre to six metres in the main vein. Recent drilling had confirmed the extension of the Imwauna vein system to depths of 150 metres, with high-grade intercepts evident at this depth. Drilling is continuing, and is designed to extend the deposit to depth and along strike.


http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aPGK-1946874&symbol=PGK&region=C

Kostolanys Erbe schrieb am 29.02.2012, 15:35 Uhr[/url]"]February 29, 2012 08:30 ET

PNG Gold Corporation Announces Further High Grade Drill Hole Results: 15.8 g/t Au over 1.8 m at 190 metres-Deepest Intersection to Date-and 16.9 g/t Au over 0.9 m at 40 metres



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 29, 2012) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

PNG Gold Corporation ("PNG Gold" or the "Company") (TSX VENTURE:PGK) has received the assay results from the final 12 diamond drill holes completed during its 2011 exploration program at the Imwauna gold project, located on Normanby Island, Milne Bay Province, eastern Papua New Guinea. Highlights from these most recent results include 15.8 g/t Au over 1.8 m in hole IMH 242 at a vertical depth of 190 metres, the deepest intersection on the property to date, while hole IMH 245 intersected 16.9 g/t Au over 0.9 m at a shallow depth of 40 metres. Significantly, both holes are in the High Grade zone at the northern end of the Imwauna vein system.

A summary of the best intersections in this group of drill holes is presented in Table 1. The drill hole location plan can be viewed at http://www.pnggold.com/i/maps/Imwauna-Exploration-Locations_27-02.pdf. As with previous results, only minor amounts of sulphides are present, even in the deep intersection in IMH 242.


Table 1: Highlights of Results
.....


http://www.marketwire.com/press-release/png-gold-corporation-announces-further-high-grade-drill-hole-results-158-g-t-au-over-tsx-venture-pgk-1625927.htm

Kostolanys Erbe schrieb am 22.02.2012, 14:37 Uhr[/url]"]February 22, 2012 08:30 ET

PNG Gold Corporation Announces Results From Initial Metallurgical Test Work; 95% Gold and 86% Silver Recoveries Indicated With Low Reagent Consumption


VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2012) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

PNG Gold Corporation (TSX VENTURE:PGK) ("PNG Gold" or the "Company") has received results of preliminary metallurgical test work on its Imwauna gold project on Normanby Island, Milne Bay Province, eastern Papua New Guinea. The test work was commissioned on PNG Gold's behalf by Lycopodium Minerals, Brisbane, QLD at Metcon Laboratories of Sydney, NSW, a division of the global ALS Group of testing laboratories.

Highlights of the test work are:
•High 95% gold and 86% silver extraction with indications of improved results with longer leach times and perhaps more controlled grinding.
•Low reagent consumptions.
•Very good correlation between head assay and leach test calculated heads which is unusually good for gold (emphasis added) which tends to be particulate and difficult to sample.
•The results suggest fine rather than flake gold mineralization.
•Higher than usual silver extraction levels with the rate of silver dissolution also being faster than typically observed.

Metcon Laboratories ("Metcon") received thirty-two (32) mineralized drill core samples from 16 holes completed in PNG Gold's 2011 diamond drilling program. The core had previously been crushed for assay procedures at ALS in Townsville, QLD. Samples contained between 3 and 15 g/t Au and 1 to 45 g/t Ag. All samples were subjected to metallurgical LeachWell tests and assayed for total and sulphide sulphur. Eleven (11) of the largest samples were also subjected to cyanide leaching in bottle roll tests.

The sampled drill holes are located in the northern and central sections of the Imwauna deposit extending along a vein strike length of 425 m. Samples are from individual quartz veins ranging in thickness from 0.4 m to 2.9 m (core length) and from near surface depths (e.g. IMH 187) to depths of approximately 160 m vertically from surface in IMH 196. The sampled drill holes are shown on the drill hole location map http://www.pnggold.com/i/pdf/Imwauna-Exploration-Locations_metallurgical-testing.pdf and summarized in Table 2 at the end of this release.

Metcon also noted that samples contain 0 to 1.3% S, indicating sulphide contents from 0% up to 3%. There was no discernible correlation between the sulphide content and gold extraction, suggesting the gold is free and not locked in sulphides. Further tests on other drill holes are planned to confirm these initial results.

Dick Whittington, President and CEO, stated, "These results highlight the potential for excellent metallurgical recoveries from the Imwauna vein system. The possibility of lower than normal reagent consumption is also very gratifying. Additional work still has to be done but this is a promising start to our ongoing metallurgical test work programme."

Methodology

Metcon Labs pulverized the samples to -300 microns and conducted bottle roll and LeachWell tests on 11 samples and LeachWell tests only on the other 21 samples. Following the leach tests, head assays were also done in order to give a metallurgical balance and measure of the percentage of cyanide soluble gold. Assays for total sulphur and sulphide sulphur were also carried out using the Leco furnace technique. All of the sulphur appears to occur as sulphide sulphur.

LeachWell is an aggressive test which involves reacting a small sample (e.g. 100 g) with water and a LeachWell tablet (a proprietary reagent) followed by tumbling for 1 to 2 hours. It is expected to overestimate potential recoveries. Nevertheless, the more conservative bottle roll tests produced similar high extraction rates for both gold and silver, with average recoveries just 4.1% and 6.9% lower, respectively. Comparative extraction rates are summarized in Table 1.

Table 1: Comparison of Leach Results

http://www.marketwire.com/press-release/png-gold-corporation-announces-results-from-initial-metallurgical-test-work-95-gold-tsx-venture-pgk-1622734.htm

Kostolanys Erbe schrieb am 09.02.2012, 17:43 Uhr[/url]"]PNG Gold drills 1.4 m of 32.1 g/t Au at Imwauna

2012-02-09 09:19 ET - News Release


Mr. Dick Whittington reports

PNG GOLD CORPORATION INTERSECTS 32.1 G/T AU OVER 1.4 M AND 20.2 G/T AU OVER 2.4 M AT IMWAUNA GOLD PROJECT, PAPUA NEW GUINEA AND CONFIRMS THE POTENTIAL FOR HIGH GRADE GOLD EXTENSIONS AT DEPTH


PNG Gold Corp. has provided assay results for a further 21 holes from its Imwauna gold project on Normanby Island, Milne Bay province, eastern Papua New Guinea, with highlights as follows: 32.1 grams per tonne gold over 1.4 metres (IMH 217, Section 10100N), approximately 150 vertical metres below surface, and 20.2 g/t Au over 2.4 m (IMH 218, Section 10200N), approximately 45 vertical metres below surface.

The IMH 217 intersection is the deepest mineralized intercept to date at the southern end of the deposit and confirms the depth extension potential of the Imwauna main vein system. The high grades also highlight the potential to expand the southern high-grade zone along strike within the main Imwauna vein system (see illustration of Section 10200N in the company's investor presentation and on PNG Gold's website). The high-grade vein intercept in IMH 218 appears to mark the discovery of a new vein that has not been encountered in any previous drill holes and which flanks the main vein. The discovery of this new vein is an indication that there is potential for adjacent veins to be discovered that could enhance the size of the Imwauna deposit. The drill plan can be viewed at the company's website.

The "Highlights of results" table illustrates the high-grade nature of these new drill results; complete results are given in the "Imwauna assay results -- IMH 217 to IMH 237" table.


HIGHLIGHTS OF RESULTS

Core length
Hole Section (m)(i) Au (g/t) Ag (g/t)

IMH 217 10100N 1.4 32.1 38.6
IMH 218 10200N 2.4 20.2 23.3
IMH 219 10475N 1.0 31.3 49.9
IMH 221 10550N 0.9 11.2 14.6
and 1.0 12.1 10.5
and 0.9 11.8 39.4
IMH 229 10450N 0.6 10.0 9.1

(i) Core lengths are not true thicknesses which have yet to be determined.

Of the 19 holes sampled for assaying purposes and reported in this release, five contain intercepts that exceed 10 g/t Au. There was no visible gold noted in the logging of any of the holes reported, and, as a result, the company has confidence that assay results are reproducible. Mineralized veins have typical epithermal vein textures and may carry minor, finely disseminated pyrite, particularly in the deeper intersections. Geochemical analyses of arsenic and lead with this group of samples generally showed low levels of these metals and did not exhibit a correlation of either element with elevated gold values. Holes IMH 220 and IMH 222 were drilled for geotechnical purposes and were designed to evaluate the stability of the host rock within the mine adit area for mine design purposes. IMH 220 did cut the Imwauna vein and sample results will be reported in a subsequent release; IMH 222 did not penetrate to the veins and was not sampled.

Assays for the remaining 12 holes of the 2011 exploration program are in transit to the assay lab in Australia and will be reported in due course.

Dick Whittington, president and chief executive officer, advises: "We are very encouraged by the extension of the southern high-grade zone at depth within the main Imwauna vein system, and even more encouraged that results from IMH 218 indicate that we have potentially discovered an adjacent, high-grade vein with new exploration potential. And, as with drilling results nearer to surface, low sulphidation is still occurring -- even at these depths. As we have yet to drill the promising Kela's prospect, our excitement for the exploration potential of the Imwauna property continues."

Continuing drilling program -- Imwauna and Kela's vein systems

Drilling continues on the Imwauna deposit primarily to explore the continuation of the mineralized veins at depth. Two drills are presently working on the Imwauna project, and, immediately upon completion of a water project in the Kela's watershed (west draining), one rig will be deployed to Kela's prospect to commence a planned 5,000-metre drill program. The Kela's vein system is subparallel to, and approximately 650 m west of, the Imwauna deposit and no previous drilling has been done on the prospect. Kela's exploration to date has been confined to mapping of the vein system and by numerous trenches along its 1.2-kilometre strike length. Previous results demonstrated the presence of gold mineralized veins in float and bedrock in the trenches all within an extensive gold-in-soil anomaly. The company intends to fully evaluate the potential of this exciting vein system. Trench assays can be viewed at the company's website.

Logging, sampling and assaying procedures

All holes drilled by PNG Gold are collared using HQ triple tube drill tools. A few holes have been reduced to NQ size at depth in the hole in order to continue the hole. Geotechnical measurements such as core recovery, fracturing and veining, rock quality designations (RQDs), hardness and photographic logging are performed systematically prior to sampling and assaying. The core is logged, samples selected by PNG Gold geologists then systematically sawn in half at the site. The one-half core sample is numbered then sealed in a bag and delivered by PNG Gold to its base in Alotau where the samples are palletized and placed in secure storage prior shipment to ALS Chemex in Townsville, Australia. The other core half is retained on the site.

Core samples are dried, crushed and pulverized to 85 per cent passing through a 75-micron mesh. The pulps are assayed for gold and silver using a 50-gram split, fire assay (FA) and AA finish. Analyses were also carried out for the trace elements As and Pb. Rejects and pulps are stored at the lab for future reference.

Quality assurance/quality control (QA/QC)

The ALS Chemex lab is an ISO 9001:2008 qualified assayer that performs and makes available internal assaying controls. Duplicates, certified standards and blanks are systematically used as part of PNG Gold's QA/QC program. The company also inserts blind standards with each sample batch at the rate of about 1:10. Periodically duplicate pulps are assayed at a second independent certified assay lab. The duplicate assays are compared with original assays for reproducibility and lab bias.

Qualified person

Colin McKenzie, PGeo, and chief operating officer of PNG Gold, is a qualified person in accordance with National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.

About the Imwauna gold deposit

The Imwauna exploration licence is located on the north side of Normanby Island approximately 80 km northeast of Alotau, the provincial capital of Milne Bay province, Papua New Guinea. Alotau is serviced by daily flights from Port Moresby, the national capital, and scheduled coastal freighters. PNG Gold maintains a logistics base in Alotau to supply the Normanby Island site.

The Imwauna prospect is an epithermal, low sulphidation quartz vein system comprising two principal veins, the thicker, more continuous Main vein and the East vein. The mineralized veins consist of finely crystalline quartz, white to grey in colour and display typical epithermal textures such as vugs, dog tooth crystals and fine, chalcedonic layering. Sulphides are rare to absent although some deeper intersections contain a few per cent of fine pyrite. Vein margins are often brecciated and resealed with silica.

Historic exploration drilling in 178 drill holes (see PNG Gold technical report, Nov. 30, 2010, on SEDAR) has outlined a narrow zone of gold mineralization over a strike length of at least 900 m to an average vertical depth of about 100 m. Widths are usually one to three m in the Main vein but less in the East vein. The drilling program is designed to extend the deposit to depth and obtain sufficient information to support a new resource estimate, now scheduled for the second quarter 2012.


IMWAUNA ASSAY RESULTS -- IMH 217 TO IMH 237

Vein
length
From (m) Ag
Hole ID (m) To (m) (i) Au (g/t) (g/t)

IMH217 187.1 188.5 1.4 32.1 38.6
IMH218 57.8 60.2 2.4 20.2 23.3
IMH219 60.6 61.6 1.0 31.3 49.9
IMH220 Geotech hole -- results pending
IMH221 29.9 31.5 1.6 8.3 11.2
and 60.6 61.6 1.0 12.05 10.5
and 79.5 81.3 1.8 8.2 22.9
IMH222 Geotech hole -- no samples
IMH223 39.8 40.0 0.2 3.67 4.0
IMH224 nsv
IMH225 32.5 33.0 0.5 2.63 73.9
IMH226 143.0 144.4 1.4 4.30 3.8
IMH227 172.3 172.7 0.4 2.95 1.5
IMH228 nsv
IMH229 176.8 177.4 0.6 9.97 9.1
IMH230 nsv
IMH231 169.0 170.2 1.2 1.27 3.8
IMH232 68.8 69.2 0.4 6.86 5.6
and 73.0 73.7 0.7 5.79 14.4
IMH233 65.8 66.8 1.0 4.71 10.3
and 03.65 105.90 1.25 2.79 4.1
IMH234 nsv
IMH235 nsv
IMH236 42.00 42.70 0.70 1.22 19.7
IMH237 Results to be repeated (1)

nsv: no significant values
(i) True thicknesses have yet to be determined
(1) Core recovery within an apparently 20 m
zone of multiple quartz veins in IMH 237
was poor and the condition of the core
very broken and rubbly prior to sampling.
The company intends to redrill this zone
in order to obtain better quality samples
for confirmation of the width and grade of
the veins.

Kostolanys Erbe schrieb am 06.02.2012, 21:19 Uhr[/url]"]Wurden die schon mal vorgestellt?

PNG Gold

TSX‐Venture Symbol: PGK
Market Cap: C$54 million
Shares Outstanding: 134 million
Recent Price: C$0.40
3 Month High: C$0.64
3 Month Low: C$0.39
Working Capital: C$33 million

http://apps.cnbc.com/view.asp?country=CA&uid=stocks/ownership&symbol=PGK-V&country=CA

PNG Gold Corporation is a Canadian based mining company with a corporate mission to become the premier gold exploration and mine development company in Papua New Guinea. Its current focus is the Imwauna Gold Property located on Normanby Island, Milne Bay Province, Eastern Papua New Guinea. The Normanby Exploration License, EL 1091, covers 20 sub-blocks (68km2) in the central part of Normanby Island, the southern and eastern most of a three, island chain called the D'Entrecasteaux Islands.

Imwauna Project Highlights:
- High grade gold, near surface, low sulphidation, epithermal swarm vein system
- 17% of a drill hole intersections exceed 10 g/t Au over 1.0 m
- Only 4 km from the coast
- Preliminary feasibility study underway
- NI 43-101 compliant mineral resource estimate expected in Q2 2012
http://www.pnggold.com/s/Home.asp

http://pnggold.com/i/pdf/CorporatePresentation.pdf

letzte news:

PNG Gold awaits Imwauna drill results

2012-01-23 09:18 ET - News Release

Mr. Dick Whittington reports

PNG GOLD CORPORATION PROVIDES EXPLORATION AND PROJECT DEVELOPMENT UPDATE ON IMWAUNA GOLD PROJECT

PNG Gold Corp. has provided exploration and project development updates for the Imwauna gold project and nearby Sehulea property, both located on Normanby Island, Milne Bay province, eastern Papua New Guinea, with highlights as follows:

Renewal of exploration licences EL 1091 and EL 1069 anticipated in normal course of business;

Drill hole assay results from Imwauna drill program expected by February, 2012;

Drill program on previously undrilled Kela's prospect to commence in first quarter 2012;

Design and fabrication contract awarded for on-site operations, offices and staff quarters, and site construction under way;

NI 43-101-complaint mineral resource estimate on track for second quarter 2012
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aPGK-1920272&symbol=PGK&region=C


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[Kostolanys Erbe]

Beaufield Resources cancels Balmat due diligence

2013-03-18 10:23 ET - News Release


Mr. Jens Hansen reports

BEAUFIELD RESUMES EXPLORATION FOCUS

Due to the current financial and market conditions for resource companies, Beaufield Resources Inc.'s board of directors has decided to terminate the Balmat zinc mine due diligence process and has notified Hudbay accordingly (see press releases of Feb. 19, 2013, and Feb. 27, 2013).

As a consequence of Beaufield's decision to resume an exploration development focus, the company terminated the contract of its president and chief executive officer, Kevin Weston, mining engineer; and Mr. Weston has resigned as director of the company. The board of directors thanks Mr. Weston for his dedication and contribution.

Beaufield has a 2013 exploration budget of $2-million to pursue advancement of its key projects: Opinaca, Tortigny and Schefferville. The board of directors has nominated Jens E. Hansen as interim president and chief executive officer.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aBFD-2049779&symbol=BFD&region=C

Kostolanys Erbe schrieb am 27.02.2013, 20:47 Uhr[/url]"]Beaufield plans financing for Balmat mine

2013-02-27 09:54 ET - News Release


Mr. Kevin Weston reports

BEAUFIELD PROVIDES ADDITIONAL DETAILS REGARDING PROPOSED ACQUISITION OF BALMAT HOLDING CORPORATION

Beaufield Resources Inc. has provided additional details regarding its proposed acquisition of the Balmat zinc mine in New York via the acquisition of all the issued and outstanding shares of the capital of Balmat Holding Corp., a wholly owned subsidiary of HudBay Minerals Inc.

As disclosed in its news release of Feb. 19, 2013, Beaufield signed an exclusivity agreement and a non-binding letter of intent with HudBay, an arm's-length party, to acquire Balmat Holding for payments totalling $12-million and up to $2-million in initial equity of Beaufield. As part of the acquisition, Beaufield will assume the decommissioning and restoration liabilities of Balmat Holding estimated at $20.9-million as at Dec. 31, 2012. The LOI and exclusivity agreement give Beaufield 90 days to complete its confirmatory due diligence review, negotiate a definitive agreement and close the acquisition based on the terms provided for in the LOI.

Closing of the acquisition is subject to a number of conditions, including completion and execution of a definitive agreement, filing of a National Instrument 43-101-compliant geological report, filing audited consolidated financial statements of Balmat Holding for the year ended Dec. 31, 2012, and receipt of all required regulatory approvals.

It is anticipated that a financing by way of debt or equity and/or offtake will be completed concurrently with the closing of the acquisition to finance the cost of restarting the operation of Balmat; however, closing of the acquisition is not conditional upon raising these funds.

By the closing date of the acquisition, Beaufield will consider adding senior executives and directors to ensure its management team and board have the appropriate mix of skills in operations and exploration activities.

Balmat Holding financial information

The attached table sets out certain unaudited consolidated financial information in respect of Balmat Holding for the fiscal years ended Dec. 31, 2012, and 2011. Such information has been prepared in accordance with international financial reporting standards (IFRS) and is stated in thousands of dollars.


For the year For the year
ended ended
Dec. 31, Dec. 31,
2012 2011

Revenue - -
Cost of sales - -
Gross profit - -
Other operating
Exploration and evaluation 406 768
Other operating income (8) -
Other operating expense 3,357 5,893
Results from operating activities (3,755) (6,661)
Finance income (485) (29)
Finance expense 298 454
Other finance losses (gains) 33 103
Net finance expense (income) (154) 528
(Loss) before tax (3,601) (7,189)
Tax expense - -
(Loss) for the year (3,601) (7,189)


In August of 2008, HudBay suspended the Balmat operations due to prevailing market conditions, including declining zinc prices, and since then, it has been on care and maintenance. As at Dec. 31, 2012, HudBay recorded the carrying value of the Balmat property, plant and equipment at an estimated fair value less costs for sale, and the material and supplies inventory at its net realizable value.

The decommissioning and restoration liability relates to the rehabilitation and closure of the Balmat mine. The amount of the provision has been recorded based on estimates and assumptions that HudBay believes are reasonable; however, actual decommissioning and restoration costs may differ from expectations.

The intercompany loan with HudBay will be eliminated concurrently with closing of the acquisition

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aBFD-2043544&symbol=BFD&region=C

Kostolanys Erbe schrieb am 19.02.2013, 20:49 Uhr[/url]"]Beaufield to acquire Balmat Holding from HudBay

2013-02-19 11:02 ET - News Release

Also News Release (C-HBM) HudBay Minerals Inc


Mr. Kevin Weston of Beaufield reports

BEAUFIELD ANNOUNCES THE SIGNING OF AN EXCLUSIVITY AGREEMENT AND LETTER OF INTENT FOR THE PURCHASE OF THE BALMAT ZINC MINE IN NEW YORK STATE

Beaufield Resources Inc. has signed an exclusivity agreement and a non-binding letter of intent with HudBay Minerals Inc. to acquire the Balmat zinc mine in New York State via the acquisition of all the issued and outstanding shares of the capital of Balmat Holding Corp., a wholly owned subsidiary of HudBay. The LOI and exclusivity agreement give Beaufield 90 days to complete its confirmatory due diligence review, negotiate a definitive agreement and close the acquisition based on the terms provided for in the LOI.

The key terms of the LOI contemplate Beaufield acquiring Balmat for payments totalling $12-million and up to $2-million in initial equity of Beaufield, consisting of:


An initial payment due upon closing of the acquisition of $4-million in cash;
Equity consideration issued at closing up to $2-million in common shares of the company's capital priced at a 5-per-cent discount to the 10-day volume-weighted average price prior to the closing date, subject to a maximum of 12 million shares;
A second cash payment due six months after closing of $4-million;
A third cash payment due 12 months after closing of $4-million.

Each of Beaufield and HudBay has the option to elect to have 50 per cent of the second and third payments satisfied through the issuance of additional shares, the price of which will be based on a 5-per-cent discount to the 10-day volume-weighted average price prior to the date of payment, subject to a cumulative limit of HudBay holding no more than a 9.9-per-cent interest in Beaufield.

Beaufield intends to secure the remainder of the financing for the restart of the Balmat mine, and the second and third payments. The Balmat assets include a fully developed underground mine, a zinc concentrator, and related infrastructure for the production and shipment of zinc concentrates.

As the acquisition would constitute a fundamental acquisition pursuant to the policies of the TSX Venture Exchange, upon issuance of this press release, the trading of Beaufield's common shares on the exchange will be halted until satisfactory review by the exchange of required documents, including a geological report regarding Balmat and of Balmat Holding's financial statements.

Discussion

Beaufield has historically been a pure exploration company with its focus on mineral exploration in Quebec. Responding to poor market conditions for junior explorers, Beaufield hired veteran mine operator Kevin Weston as president and chief executive officer in November, 2012. Mr. Weston was tasked by the board with changing the way Beaufield manages its business in order to create value for its shareholders. With the acquisition, the company is heading in a new direction, which in the very near term will include both operations and exploration. Mr. Weston's experience running similar underground zinc mines, such as G9, Myra Falls, Caribou and Bougrine, is expected to allow the company to maximize the value of Balmat.

Balmat is located near the town of Gouverneur, N.Y., and is approximately three hours driving time from Montreal, where Beaufield has its office. The physical assets comprise a zinc concentrator, headframe and underground shaft, a fully developed underground mine, underground production equipment, rail siding for shipping concentrate, tailings pond, and all associated infrastructure for an operating mine. Since its last closure in 2008, HudBay has kept the mine in a state of readiness. This high-quality work is greatly to the advantage of Beaufield, as the company plans to restart the mine as its first order of business.

The assets also include over 50,000 acres of mineral rights and leases, and includes the past-producing Edwards, Pierrepont and Hyatt mines. The Balmat mine has produced over 30 million tons (27 million tonnes) of ore at an average grade of 8.6 per cent since 1928. In total, all of the mines related to this agreement have produced over 43 million tons (39 million tonnes) of ore at an average grade of 9.5 per cent zinc.

The Balmat No. 2 mine was initially put into production in 1928; the operation produced continuously until 2001. In 2004, Balmat was purchased by a predecessor company to HudBay, which undertook a feasibility study, and after a significant capital investment, reopened the Balmat No. 4 mine in 2006. In 2008, due to prevailing market conditions, the operation was shut down, and has since been on care and maintenance.

The final production from the mine was from the Balmat No. 4 mine shaft, a circular concrete-lined shaft. The concentrator was constructed in 1972 and is capable of processing up to 5,000 tons per day (4,540 tonnes per day). It has processed ores from the Balmat, Edwards, Hyatt and Pierrepont mines. The mill has been continually upgraded since it was constructed, and it is an automated modern facility. Zinc metal recoveries were in the 94-per-cent to 95-per-cent range, and a high-quality concentrate was produced grading 55 per cent zinc.

Balmat current historical resources estimation (HudBay, 2008) is as tabulated.


Category Tonnes Zinc grade
(%)

Measured 880,000 13.4
Indicated 570,000 17.5
Inferred 1,769,000 13.3


The historical resource estimation was prepared internally by the technical team at HudBay in December, 2008, and no National Instrument (NI) 43-101-compliant technical report was required or prepared.

The resource estimate was prepared using MineSight 4.60-01 block modelling software. The block model was constrained by 3-D wireframes of the zinc-mineralized zones, and grades were estimated using ordinary kriging. Specific gravity (SG) measurements were used to develop linear correlation and were applied to the block model to determine a calculated SG based on zinc grade. A total of 2,178 mineralized assays from 525 drill holes were selected as defining the mineralized zones for the estimate.

Assay samples were weighted by the calculated SG and composited into full-length composites. High-grade composites were restricted, based on a review of the probability and histogram plots, by limiting their search distance. Correlograms were determined using MineSight software to determine the orientation and spatial continuity of the mineralization.

The three-dimensional block model was constructed using blocks measuring 15 feet by 15 feet by 15 feet. The mineral resource estimates were classified according to the CIM definition standards on mineral resources and mineral reserves, and classified as measured, indicated and inferred.

There are no other resource estimates subsequent to the 2008 resource estimation mentioned above that are available to Beaufield. A qualified person has not done sufficient work to classify these historical estimates as current mineral resources or mineral reserves. The historical estimate could be upgraded to NI 43-101 with additional quality assurance/quality control validation by a qualified person. Beaufield is not treating the historical estimate as a current mineral resource and will undertake to prepare an NI 43-101-compliant resource estimate as part of the due diligence.

At this time, there is no current resource estimate, and a feasibility study has not been completed so there is no certainty the proposed operation will be economically viable, and a decision of recommencement of production has not been made.

Beaufield geologists believe that the property offers good exploration potential both within the Balmat mine and regionally. Several of the mineralized zones remain open down plunge. Additionally, other zones, not included in the resource estimate, have recently been discovered. The 2007 discovery of the Sully zone located seven kilometres northeast and along strike of the Balmat mine demonstrates the potential of the area. The area between this zone and the Balmat mine remains unexplored and has been earmarked as a priority exploration target.

At a regional scale, several zinc showings exist on the property and remain to be further explored.

The LOI and the exclusivity agreement that Beaufield has signed with HudBay provide that Beaufield shall complete all required environmental, technical and legal due diligence review within the exclusivity period. The acquisition and the issuance of shares to HudBay, upon satisfactory confirmatory due diligence review and the conclusion of a definitive agreement, will be subject to the approval of the exchange.

Beaufield's president, Mr. Weston, comments: "The Balmat mine is a unique opportunity for Beaufield's shareholders. Balmat offers a derisked project and the possibility to become a revenue generator in a reasonable and controllable time frame. Challenges associated with bringing new greenfield projects into production can include spiralling capital costs, unspecified permitting timelines and uncontrollable infrastructure construction timelines. These challenges do not exist with the Balmat project. Although the project was not strategic to HudBay due to its size, I feel it is an excellent building block for Beaufield to enter the ranks of the producing mining companies. We are pleased as well that HudBay has chosen to become a substantial equityholder in Beaufield."

Minvisory Corp. is acting as the company's financial adviser in connection with the acquisition.

This news release has been prepared and approved by David Rivard, PGeo, vice-president, exploration, of Beaufield, and reviewed for the metallurgy information by Bogdan Damjanovic, PEng, senior metallurgist at Micon International Ltd., both qualified persons under NI 43-101.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aBFD-2041036&symbol=BFD&region=C

CCG-Redaktion schrieb am 06.12.2012, 12:22 Uhr[/url]"]Beaufield Resources starts survey over Opinaca

2012-12-05 08:40 ET - News Release


Mr. Kevin Weston reports

BEAUFIELD ANNOUNCES HIGH RESOLUTION MAGNETIC SURVEY ON OPINACA

Beaufield Resources Inc. has commenced a high-resolution, helicopter-borne, magnetometer survey over its 100-per-cent-owned Opinaca property, located 320 kilometres north of Matagami, James Bay, Que. The survey will cover the northern portion of the property where numerous gold showings have been identified by surface exploration. The area to be surveyed is located six kilometres away from Goldcorp's Eleonore project and consists of the same geological formations that host the gold deposit.

The data garnered from the survey will aid regional geological and structural interpretation as well as identify extensions to previously identified mineralization. It is believed that gold mineralization in the area is structurally controlled, and hence the survey will provide key information for future drilling programs.

The survey instrumentation is a Colibri magnetic gradiometer system provided by NovaTEM Inc. The survey specifications are for flight lines at 50-metre spacing covering an approximate area 4.5 kilometres wide and 18 kilometres long, totalling 1,550 line kilometres.

The area surveyed will include the Vortex zone, a diopside-tourmaline alteration and replacement zone mineralized in arsenopyrite, very similar to the East-Roberto zone of Goldcorp's Eleonore deposit. During the summers of 2009 and 2010, 54 grab samples taken from the Vortex alteration zone returned values up to 19.0 grams per tonne gold. Coverage with high-resolution magnetic of all the known gold occurrences will optimize future drilling and help identify additional targets with similar magnetic characteristics.

The Opinaca property is immediately adjacent to the Eleonore gold project, which is scheduled for gold production in late 2014, with life-of-mine gold production expected to average at least 600,000 ounces of gold per year over an approximate 15-year mine life (Goldcorp news release Nov. 14, 2011).

Beaufield management believes that the newly created infrastructure nearby (all-weather year-round road and hydroelectric power line) will benefit its continuing exploration efforts in the area.

This news release has been prepared by David Rivard, PGeo, vice-president, exploration, of Beaufield, qualified person under National Instrument 43-101.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aBFD-2022877&symbol=BFD&region=C

Kostolanys Erbe schrieb am 28.11.2012, 19:58 Uhr[/url]"]Beaufield's Tortigny at 845,000 t of 9.1% ZnEq M+I

2012-11-28 12:23 ET - News Release

Mr. Kevin Weston reports

BEAUFIELD REPORTS THE HIGH GRADE CU-ZN-AG-AU TORTIGNY RESOURCE ESTIMATE
Beaufield Resources Inc. has received the resource estimate for the Tortigny deposit. SGS Canada Inc. has estimated that the Tortigny deposit contains:


Measured Resources of 726,000 tonnes grading 2.11% Copper (Cu), 4.28% Zinc (Zn), 57.59 g/t Silver (Ag), 0.41 g/t Gold (Au);
Indicated Resources of 119,000 tonnes grading 1.36% Copper, 4.34% Zinc, 41.20 g/t Silver, 0.27 g/t Gold; and Total Measured and Indicated Resources ("the Resource") of 845,000 tonnes grading 2.01% Copper, 4.29% Zinc, 55.29 g/t Silver, 0.39 g/t Gold, all compliant with National Instrument 43-101 ("NI 43-101").

The Resource was separated into In-Pit Resources and Underground Resources ("U/G") (See Figure 1 at http://media3.marketwire.com/docs/BFD_Figure1.pdf). The In-Pit Resources were confined to an optimised pit shell using a net smelter return (NSR) cut-off grade of $38.50/t and the Underground Resources were estimated based on an NSR cut-off grade of $85/t. See Table 1 for the breakdown of In-Pit and Underground Resources.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aBFD-2019577&symbol=BFD&region=C

Kostolanys Erbe schrieb am 22.11.2012, 21:22 Uhr[/url]"]Gestern 100k Insiderkäufe bei BFD !



http://www.tmxmoney.com/HttpController?GetPage=SearchInsiderTrade&Language=en&Submit=Submit&QuerySymbol=bfd&x=0&y=0

Kostolanys Erbe schrieb am 20.11.2012, 20:18 Uhr[/url]"]Beaufield drills 147 m of 34% Fe at Schefferville

2012-11-20 08:38 ET - News Release


Mr. Kevin Weston reports

BEAUFIELD RESOURCES INTERSECTS 147 METRES OF 34% IRON IN SCHEFFERVILLE

Beaufield Resources Inc. has provided the results from its exploration drill program on its 100-per-cent-owned Schefferville property, located near the town of Schefferville, Que. A total of 22 subvertical holes were drilled totalling 2,147 metres, testing six different areas over a strike of 42 kilometres. Of these 22 holes, 21 intercepted iron mineralization, confirming the presence of high-grade iron throughout the property.

Highlights include:


Hole SC-12-16 intersected 147 metres of 34 per cent iron.
Hole SC-12-11 returned assays of 43.75 per cent iron over 76.5 metres including 18 metres over 52.22 per cent iron.
Twelve out of 22 holes were terminated within mineralized zones, open at depth.
Twenty-one holes intercepted the Sokoman iron formation with excellent widths.
Of the 20 targets identified with airborne geophysics 11 were drill tested and nine targets remain to be tested.
There was a presence of enriched iron identified over a 42 km trend.
Hematite-rich iron formations with low impurities were discovered.
The property is near existing infrastructure.

The exploration drilling focused on six different areas defined with an airborne gravity and high-resolution magnetic survey. Twenty-one holes out of 22 intersected iron mineralization returning an average total iron value over 30 per cent. Twelve holes are still open at depth and were terminated within mineralization. Iron values were determined by X-ray fluorescence (XRF) major element analysis.

Drill results

The attached table provides the average total iron content and the phosphorus values for each hole. Note: a low phosphorus value is considered very favourable in iron ore as it a deleterious substance in steel manufacturing.



To Interval Fe P DTWR
Hole From (m) (m) (m) (%) (%) (%)

SC-12-01 11 15 4 35.92 0.09 0.20
27 51 24 31.05 0.07 0.04
Including 30 46.5 16.5 34.06
SC-12-02(i) 93 146 53 34.04 0.03 8.25
Including 126 134 8 37.94
SC-12-03 15 165 150 30.81 0.04 5.47
Including 132 144 12 43.22
SC-12-04 1.3 108 106.7 36.04 0.03 3.74
Including 69 96 27 40.42
SC-12-05 3 27 24 32.99 0.04 less than 0.01
Including 3 18 15 41.31
SC-12-06 1.5 82 80.5 39.16 0.03 7.78
Including 43 72 29 45.5
SC-12-07 17 144 127 36.11 0.03 6.31
Including 114 138 24 45.43
SC-12-08 4.5 103.5 99 38.66 0.03 0.60
Including 65 91.5 26.5 46.32
SC-12-09(i) 19.5 108 88.5 35.53 0.02 4.78
Including 94.5 108 13.5 39.74
SC-12-11 15 91.5 76.5 43.75 0.02 0.02
Including 48 66 18 52.22
SC-12-12(i) 15 49 34 34.67(ii) 0.02 1.71
SC-12-13(i) 12 37.5 25.5 32.02(ii) 0.03 32.07
SC-12-14(i) 48 58.4 10.4 26.46 0.02 24.35
SC-12-15(i) 3 78 75 32.79 0.01 14.72
Including 3 13.5 10.5 39.66
SC-12-16 12 159 147 34.24 0.03 20.29
Including 135 159 24 40.05
SC-12-17(i) 14.8 66 51.2 32.75 0.02 15.78
Including 42 66 24 34.55
SC-12-18(i) 2 78.5 76.5 23.29 0.10 5.62
Including 60 78.5 18.5 33.31
SC-12-19(i) 2.75 54 51.25 31.23 0.02 27.10
Including 28.5 45 16.5 34.27
SC-12-19(i) 96 121.2 25.2 34.54 0.03 41.32
Including 100.5 121.2 20.7 35.26
SC-12-20(i) 24 54 30 29.68 0.02 16.35
Including 42 51 9 34.17
SC-12-21(i) 30 45.5 15.5 29.01 0.07 31.07
Including 33 42 9 30.91 0.02
SC-12-22(i) 2.9 48 45.1 37.19 0.01 0.62
Including 2.9 18 15.1 40.88 0.01

(i) Hole terminated within mineralization

SC-12-10 did not return any significant iron values.


True widths of the reported intercepts in the table vary depending on the angle of the individual drill holes and are estimated to be between 80 per cent and 100 per cent of the reported core interval. Values obtained in hole SC-12-12 and SC-12-13 are approximate (ii), in these holes only 26 per cent and 53 per cent respectively of the intervals were sampled and assayed. The remaining core is still available in Schefferville and will be sampled as part of a follow-up drill program. The values obtained were averaged because of their consistency. Most holes are hematite rich with a low phosphorus (P) level. Five holes are magnetite rich with a calculated Davis Tube weight recovery (DTWR) of higher than 20 per cent. DTWR is a laboratory measure of the magnetite content of iron ore. Hole SC-12-16 with 34.24 per cent iron over 147 metres represents the best intersection and the highest grade (52.22 per cent iron over 18 metres) was obtained in hole SC-12-11.

Hole SC-12-01 drilled in the southeastern part of the property intersected a very altered, hematite-rich, iron formation. The intense alteration is responsible for the poor recovery and 12 metres of missing core from 15 metres to 27 m. The important alteration may be indicative of the presence of direct shipping ore (DSO). More work with reverse circulation drilling technique is required to properly explore the area due to the high core loss associated with diamond drilling in DSO-type mineralization.

The northwestern part of the property was drill tested with only a single hole. Hole SC-12-22 returned 37.19 per cent iron over 45.10 metres shows high potential. The company has planned to drill five additional holes in this area as part of the next drill campaign.

President and chief executive officer, Kevin Weston, states: "These drill results surpass our expectations as they are indicative that the property hosts enriched iron formations with substantial widths throughout our claimholdings. Beaufield is anxious to return to Schefferville to follow up on these results and the remaining nine targets interpreted from the airborne gravity and high-resolution magnetic survey. Of the untested targets, we consider three of them to be the best anomalies on the property and may require reverse circulation drilling to be properly tested."

Beaufield's 38,370-hectare property is strategically located in the middle of the Schefferville camp and borders Tata Steel, Labrador Iron Mines, New Millenium Iron and Century Iron ground. The property is known to host a substantial portion of the Sokoman geological iron formation and it is an area of developing DSO iron mines and has access to significant infrastructure. Roads constructed by the IOCC during its previous mining operations run the length of the property hence facilitating access and a new railway is to be built in close proximity to Beaufield's property. Two processing DSO plants are now operational within 10 kilometres of Beaufield's property.

With approximately $8-million in working capital, including $2-million in flow-through financing to be dedicated for exploration by the end of 2013, Beaufield is well positioned to advance its excellent portfolio of properties and identify other potential opportunities in the mineral exploration or development stage that we can add value to on behalf of shareholders.

Quality assurance/quality control

Core processing included descriptive logging and systematic sampling for analysis. The drill core was completely cut in half, with one-half sent to a commercial laboratory and the other half retained for future reference. Total iron analysis was performed using X-ray fluorescence (XRF) and the magnetic component was determined using the Davis Tube method. This program includes the systematic addition of blank samples and certified standards to each batch sample sent for analysis at commercial laboratories. Blank samples are used to check for possible contamination in laboratories while certified standards determine the analytical accuracy and precision. Drill core samples from the drilling program were assayed at SGS Canada Inc., in Lakefield, Ont.

This news release has been prepared by David Rivard, PGeo, vice-president exploration of Beaufield, the qualified person under Section 43-101.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aBFD-2015971&symbol=BFD&region=C

Kostolanys Erbe schrieb am 12.11.2012, 22:51 Uhr[/url]"]Habe mir heute mal BFD nach langer Zeit mal wieder angeschaut.


http://canadianinsider.com/node/7?menu_tickersearch=bfd

Wenn ich das richtig gelesen habe haben sie im August auf dem Eisenerz-Projekt gebohrt, aber noch keine Ergenisse geliefert....oder verstehe ich die news verkehrt?

August 16, 2012

Beaufield Resources Inc. (“Beaufield” or the “Company”) is pleased to announce the completion of its drill program of 22 holes totalling 2,141 metres on its 100% owned Schefferville property in northern Quebec located immediately north of the town of Schefferville....

http://www.beaufield.com/investors/press-releases/details.aspx?id=86



und in der zwischenzeit steigen so mal die Chinesen bei BFD ein....

October 4, 2012


Ottawa, October 4, 2012 – Beaufield Resources Inc. (“Beaufield” or the “Company”) (TSX Venture Exchange: “BFD”) is pleased to announce that it has completed a non-brokered private placement (the “Offering”) with Hongkong Huaxin Petroleum Limited (“HKHP”) of 10,000,000 common shares (the “Shares”) at a price of $0.20 per Share for gross proceeds of $2,000,000. No commission was paid in connection with the Offering. The Shares are subject to a four-month hold period until January 29, 2013 pursuant to applicable securities legislation. The Offering is subject to the final approval of the TSX Venture Exchange.

Including this financing, the Company has 111,281,519 common shares outstanding and HKHP holds 9% of Beaufield’s issued and outstanding common shares. Beaufield now has approximately $8 million in working capital representing approximately $0.07 per common share of Beaufield........

http://www.beaufield.com/investors/press-releases/details.aspx?id=87




» zur Grafik

 

[Kostolanys Erbe]

Whitecap Resources to acquire Invicta for cash, shares

2013-03-18 08:23 ET - News Release

See News Release (C-WCP) Whitecap Resources Inc (2)

Mr. Grant Fagerheim of Whitecap reports

WHITECAP RESOURCES INC. INCREASES VIKING LIGHT OIL EXPOSURE THROUGH THE ACQUISITION OF INVICTA ENERGY CORP. AND ANNOUNCES INCREASED 2013 GUIDANCE

Whitecap Resources Inc. and Invicta Energy Corp. have entered into an arrangement agreement providing for the acquisition by Whitecap of all the issued and outstanding common shares of Invicta. Invicta is a light-oil-weighted public energy company with its operations immediately offsetting Whitecap's lands and Viking production in the Lucky Hills area of west-central Saskatchewan. Under the terms of the transaction, Invicta shareholders will receive, at their election, for each Invicta share held, either: (i) 0.05891 of a Whitecap common share; or (ii) 51.911 cents in cash, subject to an aggregate cash maximum of $10.7-million. Whitecap will also assume the net debt of Invicta, estimated at $17.4-million, after accounting for costs, severance and option proceeds associated with the transaction, as at March 31, 2013.

The 51.911-cent-per-share transaction value represents a 30-per-cent premium to the closing market price of the Invicta common shares on March 15, 2013, and a 37-per-cent premium to the volume-weighted average trading price of the Invicta common shares for the 10 trading days ending March 15, 2013. The total transaction value is approximately $60.2-million, including the assumption of net debt.

Strategic rationale

Since the company's initial entrance into the Viking light oil resource play in February, 2012, it has steadily improved its operational results and capital efficiencies and has significantly exceeded initial expectations. The Invicta lands, and associated locations, are within the company's core Lucky Hills area where it owns the majority of the offsetting lands. With 87 per cent of the acreage on Crown lands, the acquired locations have some of the best economic parameters in the greater Dodsland area.

In the first quarter of 2013, Whitecap drilled and placed on stream 19 (17.4 net) Viking horizontal wells in Lucky Hills with average drill and complete costs of $785,000 per well. Of the 19 wells drilled in the first quarter, 15 have 30 or more days of production with an average IP (30) rate in excess of 100 barrels of oil equivalent per day (80 per cent light oil). Many of these results directly offset the Invicta lands and are well above the company's current Viking type curve.

Whitecap is also acquiring three multiwell oil batteries that are currently tied in to Whitecap's infrastructure for oil gathering and gas conservation. The Invicta facilities enhance Whitecap's ability to lower costs and increase netbacks in this area over time.

The company initially acquired 1,600 boe/d of light oil production in Lucky Hills as part of the Compass transaction in February, 2012, and now has current production in excess of 3,500 boe/d, an increase of 119 per cent before the acquisition of Invicta. This demonstrates the significant organic growth Whitecap has already experienced with the Viking horizontal oil play. Pro forma the transaction, Whitecap anticipates current production in the Viking formation to be in excess of 4,000 boe/d.

The Invicta lands will generate free cash flow and further strengthen the sustainability of the company's dividend-growth strategy. The company estimates the transaction to impact Whitecap's 2013 and 2014 forecasts as displayed in the table.



2013 (1) 2014

Average production 400 boe/d 650 boe/d
Cash flow (2) (3) $8.9-million $14.1-million
Development capital spending $4.7-million $7.2-million
Free cash flow (3) $4.2-million $6.9-million

Note: The impact on 2013 is based on a closing date of May
1, 2013, and therefore does not represent full year
2013 average production, cash flow, development capital
spending and free cash flow.

Summary of the transaction

Through the transaction, Whitecap is acquiring high-quality, high netback light oil assets located in the Lucky Hills area of west-central Saskatchewan, focused on the Viking formation. The acquired Viking assets are complementary to the company's existing operations and are immediately offsetting its lands in west-central Saskatchewan. Invicta has current production of approximately 500 boe/d (more than 80 per cent oil and natural gas liquids) and a low-risk horizontal development drilling inventory of 77 net locations. Of these 77 locations, only 36 locations have reserves booked to them in Whitecap's internal assessment of Invicta's reserves.

The transaction has the following characteristics.


Total transaction price (including net debt): $60.2-million

Current production: 500 boe/d (more than 80 per cent oil and NGLs)

Proved reserves (4): 2,612 million boe (80 per cent oil and NGLs)

Proved plus probable reserves (4): 3,045 Mboe (80 per cent oil and NGLs)

Proved plus probable RLI (5): 16.7 years

Operating netback (2) (3): $58.00/boe


Net of undeveloped land at an estimated value of $5.0-million, using $100/acre, the associated transaction metrics are as follows.


Current production: $110,400/boe/d

Proved reserves: $21.13/boe

Proved plus probable reserves: $18.13/boe

Proved plus probable reserves recycle ratio: 3.2 times


The transaction is forecast to be accretive on cash flow per share, production per share, proved plus probable reserves per share and on net asset value per share to Whitecap, on a fully diluted basis.

Increased 2013 guidance

On a stand-alone basis, Whitecap is currently producing greater than 17,500 boe/d (71 per cent oil and NGLs). Following the transaction, Whitecap will continue to expand on its 2013 capital program in west-central Saskatchewan drilling an additional eight (4.2 net) horizontal wells targeting the Viking formation. The company's revised 2013 guidance has average production increasing 3 per cent to 17,200 to 17,400 boe/d and capital spending increasing 3 per cent to $160-million from its previous guidance provided. The company anticipates the transaction to be debt neutral to Whitecap with 2013 year-end net debt to cash flow of 1.3 times to 1.4 times.

Notes:


Partial year operating and financial information based on a closing date of May 1, 2013.
Based on an Edmonton par price of $87.50 (Canadian) per bbl, $3 (Canadian) per gigajoulue AECO and a Canadian/U.S.-dollar exchange rate of 0.98.
Cash flow, free cash flow and operating netback are non-GAAP (generally accepted accounting principles) measures. Refer to the non-GAAP measures section of this press release.
Based on Invicta's working interest reserves before the calculation for royalties and before the consideration of Invicta's royalty interest reserves. Reserves estimates are based on Whitecap's internal evaluation and were prepared by a member of Whitecap's management who is a qualified reserves evaluator in accordance with National Instrument 51-101 effective April 1, 2013.
Based on current production of 500 boe/d.

Plan of arrangement

Whitecap and Invicta have entered into an arrangement agreement pursuant to which Whitecap and Invicta have agreed that the transaction will be undertaken by means of a plan of arrangement under the Business Corporations Act (Alberta). Invicta shareholders will receive, at their election, for each Invicta share held, either: (i) 0.05891 of a Whitecap common share; or (ii) 51.911 cents in cash, subject to an aggregate cash maximum of $10.7-million, in exchange for all of the outstanding shares of Invicta and subject to the terms and conditions of the arrangement agreement. The arrangement agreement contemplates that Invicta will hold a meeting of its shareholders on or prior to May 9, 2013, to permit shareholders to vote on the arrangement.

The board of directors of Invicta unanimously supports the transaction, has determined that the transaction is in the best interest of Invicta and recommends that the shareholders of Invicta vote in favour of the transaction. Certain Invicta shareholders, including all senior officers and directors who collectively hold over 22 per cent of the issued and outstanding voting shares of Invicta (assuming exercise of in-the-money options), have entered into agreements with Whitecap pursuant to which they have agreed to vote their shares in favor of the transaction at the Invicta shareholder meeting.

The arrangement agreement provides for non-solicitation covenants (subject to the fiduciary obligations of the board of directors of Invicta and the right of Whitecap to match any superior proposal (as defined in the arrangement agreement). The arrangement agreement, among other things, provides for mutual non-completion fees of $2.4-million in the event the transaction is not completed or is terminated by either party in certain circumstances. The arrangement agreement provides that completion of the transaction is subject to certain conditions, including the receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange and the Toronto Stock Exchange, the approval of the shareholders of Invicta including, if applicable the approval of the majority of the minority and the approval of the Court of Queen's Bench of Alberta. The transaction is anticipated to close in April, 2013.

Financial advisers

GMP Securities LP is acting as exclusive financial adviser to Invicta with respect to the transaction and has provided the board of directors of Invicta with its opinion that, subject to its review of the final form of documents effecting the arrangement agreement, the consideration to be received by Invicta shareholders is fair, from a financial point of view, to Invicta shareholders. Paradigm Capital Inc. is acting as strategic advisers to Invicta in connection with the transaction.

We seek Safe Harbor.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aVCA-2049698&symbol=VCA&region=C

Kostolanys Erbe schrieb am 11.02.2013, 21:32 Uhr[/url]"]Invicta's reserves at 2.74 mmbbl light, medium oil P+P

2013-02-11 08:44 ET - News Release


Mr. Gordon Reese reports

INVICTA REPORTS 78% INCREASE IN OIL RESERVES IN 2012

Invicta Energy Corp. has released the results of its independent reserve evaluation prepared by Fekete Associates Inc. in accordance with National Instrument 51-101 -- Standards of Disclosure for Oil and Gas Activities and dated effective Dec. 31, 2012, evaluating the company's crude oil, natural gas liquids and natural gas reserves. The report is primarily based on 34 gross (20 net) producing light oil wells at Kindersley, Sask., and 92 gross (50 net) proved undeveloped Kindersley locations. Invicta has drilled seven gross (3.6 net) of the proved undeveloped locations so far in 2013.

Light oil accounts for more than 96 per cent of Invicta's oil and gas revenues. Information regarding Invicta's reserves is summarized as follows -- Dec. 31, 2012 as compared with Dec. 31, 2011:


Proved reserves -- 107-per-cent increase in light oil reserves to 2,403 mstb:
60-per-cent increase in light oil and associated gas reserves to 3,091,000 barrels of oil equivalent;
52-per-cent increase in PV10 before tax of $67.6-million;
Light oil reserve life index of 10.5 years (1);
4-per-cent reduction in light oil finding costs to $33.84 per barrel (2)(3);
Light oil recycle ratio(4) of 1.9;
Light oil reserve replacement(5) of 1,241 per cent;
107-per-cent increase in light oil reserves per share;
20-per-cent increase in net asset value(6) of 76 cents per share based on NPV before tax at 10 per cent;
Proved plus probable reserves -- 78 -per-cent increase in light oil reserves to 2,750 mstb:
39-per-cent increase light oil and associated gas reserves to 3,541,000 barrels of oil equivalent;
38-per-cent increase in PV10 before tax of $81.8-million;
Light oil reserve life index of 12.1 years (1);
8-per-cent reduction in light oil finding coststo $29.03 per barrel (2)(3);
Light oil recycle ratio(4) of 2.3;
Light oil reserve replacement(5) of 1,204 per cent;
77-per-cent increase in light oil reserves per share;
20-per-cent increase in net asset value(6) of 95 cents per share based on NPV before tax at 10 per cent.

Notes:


Calculated using Invicta's forecasted 2013 average production rate of 625 barrels per day;
$35.60 per thousand barrels of oil equivalent proven and $33.84 per thousand barrels of oil equivalent proven plus probable. Invicta's finding costs on a thousand-barrel-of-oil-equivalent basis increased over 2011 primarily due to revisions to associated gas reserves from lower gas oil sales ratios;
Based on 2012 estimated capital expenditures of $15.7-million; $30-million change in proven future development costs; and $22.3-million change in proven plus probable future development costs;
Operating netback/finding cost. Based on Invicta's forecasted operating netback of $65.43 per barrel. Recycle ratios calculated on a thousand-barrel-of-oil-equivalent basis are 1.4 proven and 1.5 proven plus probable and are based on a forecasted operating netback of $51.41 per boe;
Based on estimated 2012 production of 109,000 barrels;
Assumes $3.4-million of undeveloped land (51,900 net acres) and seismic value, $13.2-million of estimated net debt at Dec. 31, 2012, and 75.6 million basic outstanding shares.

Reserves

The tables provide summary information presented in the report effective Dec. 31, 2012. The report evaluated the oil, NGL and natural gas reserves attributable to the company's crude oil, natural gas liquids and natural gas reserves effective Dec. 31, 2012. Detailed reserve information will be presented in the statement of reserves data and other oil and gas information section of the company's annual information form scheduled to be filed on SEDAR on or before April 15, 2013. Also due to rounding, certain columns may not add exactly.

The net present value of future net revenue attributable to reserves is stated without provision for interest costs and general and administrative costs, but after providing for estimated royalties, production costs, development costs, other income, future capital expenditures and well abandonment costs for only those wells assigned reserves by Fekete. It should not be assumed that the undiscounted or discounted net present value of future net revenue attributable to reserves estimated by Fekete represent the fair market value of those reserves. Other assumptions and qualifications relating to costs, prices for future production and other matters are summarized herein. The recovery and reserve estimates of oil, NGL and natural gas reserves provided herein are estimates only. Actual reserves may be greater than or less than the estimates provided herein.

The report is based on certain factual data supplied by the company and the company's opinion of reasonable practice in the industry. The extent and character of ownership and all factual data pertaining to petroleum properties and contracts (except for certain information residing in the public domain) were supplied by the company to Fekete. Fekete accepted these data as presented and neither title searches nor field inspections were conducted.

The company's reserves are 80 per cent light oil and the gas reserves are for the solution gas associated with the light oil wells. Invicta's reserves for solution gas were revised by 3,683 million cubic feet primarily due to a lower forecasted producing GOR (gas oil ratio). Given current market conditions for natural gas this reduction has minimal impact on the value of the company's reserves.

The Fekete price forecast is available on its website.


SUMMARY OF OIL AND GAS RESERVES -- FORECAST PRICES AND COSTS

Company interest reserves before royalty Company interest reserves after royalty
Light and Natural Light and Natural
medium crude Heavy gas Natural medium crude Heavy gas Natural
oil oil liquids gas oil oil liquids gas
Mbbl Mbbl Mbbl MMcf Mboe Mbbl Mbbl Mbbl MMcf Mboe
Proved
Developed producing 487.2 - 0.8 833.0 626.8 471.4 - 0.6 788.0 603.3
Developed non-producing - - - - - - - - - -
Undeveloped 1,915.2 - - 3,293.0 2,464.0 1,823.3 - - 3,144.0 2,347.3
------- -- --- ------- ------- ------- -- --- ------- -------
Total proved 2,402.4 - 0.8 4,126.0 3,090.9 2,294.7 - 0.6 3,932.0 2,950.6
Probable 346.9 - 0.2 619.0 450.2 332.0 - 0.1 589.0 430.3
------- -- --- ------- ------- ------- -- --- ------- -------
Total proved plus probable 2,749.3 - 1.0 4,745.0 3,541.1 2,626.7 - 0.7 4,521.0 3,380.9
------- -- --- ------- ------- ------- -- --- ------- -------



NET PRESENT VALUE OF FUTURE NET REVENUE -- FORECAST PRICES AND COSTS
BEFORE FUTURE INCOME TAX

Before future income tax expenses and discounted at
0% 5% 10%
(M$) (M$) (M$)
Proved
Developed producing $ 31,492 $ 26,959 $ 23,691
Developed non-producing - - -
Undeveloped 80,273 58,656 43,915
-------- -------- --------
Total proved 111,765 85,615 67,606
Probable 27,148 19,041 14,230
-------- -------- --------
Total proved plus probable $138,913 $104,656 $ 81,836
-------- -------- --------

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aVCA-2038872&symbol=VCA&region=C

Kostolanys Erbe schrieb am 15.01.2013, 20:50 Uhr[/url]"]Invicta Energy drills 22 wells at Kindersley in 2012

2013-01-15 06:36 ET - News Release


Mr. Gordon Reese reports

INVICTA ENERGY ANNOUNCES RECORD FIELD PRODUCTION AND INCREASE IN CREDIT FACILITY TO $18 MILLION

Invicta Energy Corp. has successfully completed its fourth-quarter drilling program of seven gross (3.9 net) wells at Kindersley, Sask. In total the company drilled 22 gross (12.1 net) wells on its Viking light oil play at Kindersley, Sask., in 2012. The company forecasted an exit production rate of 535 barrels of oil per day and achieved an average field production rate of 535 barrels of oil per day for the month of December. For approximately half the production days in the month of December the oil production rate exceeded the forecasted rate and the company reached a record day rate of 635 barrels of oil per day (700 barrels of oil equivalent per day). Initial production rates (IP rates based on 30 days) of these recent wells have outperformed the company's forecasted type curve of 40 to 45 barrels of oil per day and rank as some of the better wells in this play. Several wells have reached IP30 rates of 100 to 120 barrels of oil per day. Estimated field production for the first 10 days of January averaged 550 barrels of oil per day (582 barrels of oil equivalent per day). Invicta will monitor these high IP wells over the coming months for comparative decline performance to the company's forecast to assist in further development of its completion practices.

Invicta has also begun its Kindersley first-quarter drilling program of nine gross (4.2 net) wells. The company plans to drill up to 15 gross wells on its Saskatchewan and Alberta properties in the first half of 2013.

In addition, Invicta has added over four net sections of land through fourth quarter 2012 Crown land sales and now has 56,600 net acres of land in Alberta and Saskatchewan. From this developing land base, Invicta has the potential to develop a second core resource base to complement its current development on lands in Kindersley, Sask.

Based on the production results from the fourth-quarter drilling program, the company's credit facility was increased to $18-million, the maximum available under Invicta's current credit facility with ATB Financial.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aVCA-2031781&symbol=VCA&region=C

CCG-Redaktion schrieb am 06.12.2012, 10:21 Uhr[/url]"]Haben die doch gar nicht nötig!

Invicta Energy hires Brisco Capital for IR

2012-12-03 07:02 ET - News Release


Mr. Gordon Reese reports

INVICTA ENERGY RETAINS INVESTOR RELATIONS CONSULTANT

Invicta Energy Corp. has retained Brisco Capital Partners Corp., a Calgary-based investor relations firm. Brisco will assist the company at trade shows, liaise with the investment community, and assist with the organization and presentation of road shows.

Pursuant to the terms of the consulting agreement between Brisco and Invicta, Brisco will be paid a monthly retainer of $10,000 by Invicta, beginning in January, 2013, as well as approved expenses. Pursuant to the agreement, Brisco has been granted options to purchase 200,000 common shares in the capital of the company at an exercise price of 26.5 cents, being the closing price on Nov. 30, 2012. In accordance with the policies of the TSX Venture Exchange and the company's stock option plan, the options will vest over a 12-month period in equal quarterly tranches.

The agreement and the grant of options are subject to TSX Venture Exchange approval


http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aVCA-2022129&symbol=VCA&region=C

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Kostolanys Erbe schrieb am 28.11.2012, 20:56 Uhr[/url]"]Volumen !!!


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Kostolanys Erbe schrieb am 21.11.2012, 21:27 Uhr[/url]"]

Invicta Energy earns $489,477 in Q3

2012-11-21 07:23 ET - News Release


Mr. Gordon Reese reports

INVICTA ENERGY CORP. ANNOUNCES FIFTH CONSECUTIVE PROFITABLE QUARTER

Invicta Energy Corp. has released its financial and operating results for the three and nine months ended Sept. 30, 2012. Invicta's interim condensed financial statements and related management's discussion and analysis for three months and nine months ended Sept. 30, 2012, have been filed and are available on SEDAR and may also be obtained on Invicta's website.

Highlights of the third quarter


Increased average oil production 49 per cent to 323 barrels per day (bbl/d) for third quarter 2012 from 217 bbl/d in second quarter;
150-per-cent increase in third quarter average oil production year over year;
Achieved funds flow from operations of $1.5-million (two cents per share) and earnings of $500,000 (one cent per share) for the quarter; year-to-date funds flow from operations of $3.4-million (five cents per share) and earnings of $900,000 (one cent per share);
Achieved top-quartile operating netback of $55.82 per barrel of oil equivalent (boe) year to date;
Commenced the third quarter/fourth quarter drilling program of 11 gross (5.1 net) wells at Lucky Hills; four gross wells drilled and ready for completion at Sept. 30, 2012;
On track to achieve exit light oil production of 535 bbl/d for 2012;
Acquired over 14 sections of land on two Alberta light oil plays.


HIGHLIGHTS

Three months ended Nine months ended
Sept. 30, Sept. 30,
2012 2011 2012 2011
Operations
Drilling
Oil wells (net) 4.0(2.2) 4.0(2.2) 15.0(8.2) 9.0(5.0)
Undeveloped landholdings (net acres) 51,900 35,852 51,900 35,852
Average daily production
Crude oil (bbl/d) 323 129 255 75
Natural gas (mcf/d) 383 92 388 237
Total equivalent (boe/d) 387 145 320 114
Average product prices
Crude oil ($/bbl) $81.95 $88.94 $83.33 $89.68
Natural gas ($/mcf) 2.14 3.78 1.96 3.75
Total equivalent ($/boe) 70.57 81.88 68.83 66.46
Royalties ($/boe) 2.40 4.66 2.29 6.26
Production and operating costs ($/boe) 12.72 18.69 10.72 17.89
Operating netback ($/boe) 55.45 58.53 55.82 42.31
Petroleum and natural gas revenue 2,512,220 1,008,530 5,999,320 2,084,380
Funds flow from operations 1,477,238 458,900 3,423,353 85,395
Per share -- basic and diluted 0.02 0.01 0.05 0.00
Earnings (loss) 489,477 114,227 829,180 (729,757)
Per share -- basic and diluted (loss) 0.01 0.00 0.01 (0.02)
Capital expenditures 3,768,326 3,334,870 9,586,011 7,006,951
Net debt 9,265,490 2,404,474 9,265,490 2,404,474



Operations update

Kindersley (Lucky Hills) in Saskatchewan

Early in the third quarter the company completed and placed on production four wells from its second quarter program. In September four wells of the third quarter/fourth quarter Kindersley (Lucky Hills) drilling program were drilled. Subsequent to Sept. 30, 2012, an additional six wells were drilled, all at a 100-per-cent success rate. The completion and multistage fracking of the majority of these wells commenced after the quarter-end due to availability of frac services. Invicta is pleased to report that as of the date of this press release all wells have been completed and placed on production. During 2012, Invicta drilled a total of 21 gross (11.1 net) wells on this property.

Based on the last 10 wells of its recent drilling program, drilling costs have been reduced as a result of increased efficiencies. Invicta estimates that the all-in on stream costs of these horizontal wells are averaging $900,000 to $950,000. The oil production rates of the most recent program have exceeded the company's forecasted average type curve.

Invicta's two facilities have been expanded in third quarter and an additional one is being constructed to handle the additional production volumes from the recent drilling program. It is anticipated that one additional well will be drilled at 100-per-cent working interest prior to year-end on lands acquired in second quarter. Plans are currently under way for an active first quarter/second quarter 2013 program.

Since April, 2012, Invicta has transported up to 60 per cent of its production by rail in order to increase netbacks and mitigate a portion of the current differentials in Edmonton light to WTI (West Texas Intermediate). This process is expected to continue into 2013.

Central Alberta

A total of 14-1/4th sections of land were acquired during the third quarter in areas that industry has recently licensed and drilled horizontal Viking oil wells. The company plans to drill a test horizontal well in first quarter 2013 to test the extension of the existing Viking oil play.

Outlook

Invicta is very pleased with the growth it has achieved through third quarter and year to date in 2012. The third quarter results are on target and the company is on track to meet or exceed the year-end exit oil production of 535 bbl/d with added production from the third quarter/fourth quarter 11 gross (5.1 net) well drilling program. The company is forecasting the 2012 annual funds flow per share at eight cents per share and the annualized fourth quarter funds flow per share at 12 cents per share. The 2012 capital program was increased to $16-million due to the acquisition of additional acreage in Alberta and an increase in the number of wells drilled in the fourth quarter. Based on the recent drilling program, Invicta anticipated being granted the maximum lending value of $18-million within its existing agreement by year-end, or shortly thereafter.

The forecast for 2013 is based on drilling 25 gross (13 net) oil wells at Lucky Hills. The capital program of $15-million includes drilling two wells in the first quarter on the company's Alberta oil plays. The $15-million capital program is forecasted to be financed by funds flow and availability within the company's credit facility. Due to recent volatility in oil prices and differentials, the company has based the 2013 forecast on an $80 realized oil price. Invicta is forecasting average oil production of 620 bbl/d for 2013, a 107-per-cent increase year over year, while maintaining a debt-to-annualized-cash-flow ratio of less than 1.5:1. The company looks forward to increasing its forecast and capital budget if market conditions improve, production results at Kindersley continue to exceed type curve, and/or the success of the initial wells in Alberta.

The associated table summarizes revised 2012 guidance and the 2013 guidance.


GUIDANCE
(In millions of dollars, except where indicated)

2012 guidance 2013 guidance

Capital expenditures $16 $15
Drilling program gross (net) wells 22 (12) 27 (15)
Avg oil production bbl/d 300 620
Funds flow $5.7 $11.7
Per share $0.08 $0.16
Annualized fourth quarter
funds flow $9.1 $12.4
Per share $0.12 $0.16
Year-end net debt $13.1 $16.6


http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aVCA-2016357&symbol=VCA&region=C

Kostolanys Erbe schrieb am 09.11.2012, 17:26 Uhr[/url]"]


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Kostolanys Erbe schrieb am 23.10.2012, 20:32 Uhr[/url]"]Invicta Energy finishes drilling 10 Kindersley wells

2012-10-23 07:12 ET - News Release


Mr. Gordon Reese reports

INVICTA ENERGY ANNOUNCES DRILLING PROGRAM UPDATE

Invicta Energy Corp. has completed drilling 10 gross (5.1 net) wells at Kindersley, Sask. (Lucky Hills). During this program Invicta increased the total number of drills to 10 from the previously announced nine wells as a result of available capital and approved well licences. Completion of these wells, including multistaged fracturing, has commenced, and to date four of the wells have been completed and placed on production. All 10 wells are expected to be producing by the end of November. The company will be in a position to comment on the production rates in November along with the financial results for the third quarter. Invicta expects to release third-quarter 2012 operating and financial results on or before Nov. 23, 2012.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aVCA-2005753&symbol=VCA&region=C

Kostolanys Erbe schrieb am 22.10.2012, 20:42 Uhr[/url]"]Volumen!!!


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Kostolanys Erbe schrieb am 04.10.2012, 21:00 Uhr[/url]"] Volumen!!!


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Kostolanys Erbe schrieb am 18.09.2012, 20:12 Uhr[/url]"]Invicta begins nine-well drill program at Kindersley

2012-09-17 18:00 ET - News Release


Mr. Gordon Reese reports

INVICTA ENERGY COMMENCES 9 GROSS (4.8) NET WELL DRILLING PROGRAM

Invicta Energy Corp. has commenced the third quarter/fourth quarter drilling program of nine gross (4.8 net) wells at Kindersley, Sask. (Lucky Hills). These wells will complete the planned 2012 drilling program of 20 gross (11 net) wells. Current field production is 325 to 350 barrels per day of light oil with total corporate production at 400 barrels of oil equivalent per day. Upon completion of the third quarter/fourth quarter drilling program, the company's exit production is estimated to be 625 to 675 barrels of oil equivalent per day (80 per cent light oil).

Invicta is positioned for growth with top-quartile operating netbacks and a drilling inventory in excess of 200 development locations on its low-risk light oil resource play at Kindersley. The company continues to work on a number of light oil prospects in central Alberta on its 49,587 gross acres (47,753 net acres), and looks forward to drilling and developing its next core area in 2013.

An updated corporate presentation is available on the Invicta website.


http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aVCA-1996949&symbol=VCA&region=C


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Kostolanys Erbe schrieb am 23.08.2012, 21:13 Uhr[/url]"]

Invicta Energy earns $159,353 in Q2

2012-08-23 07:04 ET - News Release


Mr. Gordon Reese reports

INVICTA ENERGY CORP. ANNOUNCES FINANCIAL AND OPERATING RESULTS FOR THE SECOND QUARTER OF 2012

Invicta Energy Corp. has released its financial and operating results for the three and six months ended June 30, 2012. Invicta's interim condensed financial statements and related management's discussion and analysis for three months and six months ended June 30, 2012, have been filed and are available on SEDAR and may also be obtained on Invicta's website.

Highlights


Drilled six gross (3.3 net) horizontal oil wells at Kindersley, Sask.; two wells brought on production by end of quarter and the other four wells producing by the third week of July, 2012;
Production results from the six-well drilling program at Kindersley once again exceeding expected Viking-type curves;

133-per-cent increase in net light oil production year to date from 150 barrels per day (bbl/d), (the initial rate of 2012) to 350 bbl/d (current field estimate); oil production at 85 per cent of total corporate production and 96 per cent of corporate revenue;

Achieved operating costs for the quarter of $8.76 per barrel of oil equivalent (boe) (11-per-cent decrease from first quarter 2012 and 64-per-cent decrease from second quarter 2011);

Operating netback continuing to be top quartile at $57.75 per boe and $56.08 per boe for three months and six months ended June 30, 2012, respectively;

Achieved funds flow from operations of $972,138 (one cent per share) and earnings of $159,353 (nil per share) for the quarter;
Credit facility raised $3-million to $13-million Aug. 15, 2012, based on the recent successful drilling program;

Prepared for drilling a further eight gross (4.4 net) horizontal wells at Kindersley during the remaining six months of 2012.


HIGHLIGHTS
Three months ended Six months ended
June 30, June 30,
2012 2011 2012 2011
Operations
Drilling
Oil wells (net) 6.0 (3.3) 4.0 (2.2) 11.0 (6.0) 5.0 (2.8)
Undeveloped landholdings (net acres) 48,260 29,870 48,260 29,870
Average daily production
Crude oil (bbl/d) 217 46 219 48
Natural gas (mcf/d) 331 264 391 311
Total equivalent (boe/d) 272 90 285 100
Average product prices
Crude oil (Cdn $/bbl) $81.52 $94.85 $84.37 $90.70
Natural gas (Cdn $/mcf) 1.73 3.74 1.86 3.71
Total equivalent (Cdn $/boe) 67.13 59.54 67.63 55.11
Royalties (Cdn $/boe) 0.62 8.27 2.21 7.44
Production and operating costs (Cdn $/boe) 8.76 24.54 9.34 17.31
Operating netback (Cdn $/boe) 57.75 26.73 56.08 30.36
Financial
Petroleum and natural gas revenue 1,664,316 489,673 3,487,099 995,850
Funds flow from operations (loss) 972,138 (252,202) 1,946,115 (528,324)
Per share -- basic and diluted (loss) 0.01 (0.01) 0.03 (0.01)
Earnings (loss) 159,353 (346,624) 339,703 (843,984)
Per share -- basic and diluted (loss) 0.00 (0.01) 0.00 (0.02)
Capital expenditures 2,734,731 2,879,473 5,817,685 3,672,081
Net debt (working capital) (loss) 6,974,403 (476,891) 6,974,403 (476,891)



Operations update

Kindersley, Sask.

During the second quarter, the company completed its six-well drilling program at a 100-per-cent success rate. This program was hampered by wet spring conditions which delayed the timing and subsequent production start-up of these wells. However, the company is pleased to report that the initial production rates of the six wells have exceeded the forecasted Viking-type curves. Five of the six wells have 30-day production rates ranging from 50 to 90 bbl/d. One well is still producing at 80 bbl/d after 70 days. All six wells are flowlined into existing company infrastructure which allows conservation of the solution gas. Current net field production from the Kindersley property is 340 bbl/d and 350,000 cubic feet per day of solution gas.

Invicta acquired a section of petroleum and natural gas rights in the second quarter. At quarter-end the company's drilling inventory is in excess of 200 locations. The company is preparing locations for the upcoming drilling programs with an expectation of drilling another eight gross (4.3 net) wells by year-end.

Central Alberta

The company completed a 21-square-kilometre 3-D program over one of its central Alberta properties. The 3-D program is currently being interpreted for horizontally drillable locations for light oil. Nine additional sections of petroleum and natural gas rights, prospective for Viking and Mannville light oil, were acquired subsequent to the second quarter. The company looks forward to initiating drilling activity on the Alberta prospects in early 2013.

Guidance

The company has successfully completed two drilling programs at Kindersley to date and looks forward to drilling the remaining eight gross (4.3 net) wells of the forecasted 20 gross (11 net) well program for 2012. The capital expenditures for the year remain forecasted at $14-million.

The company is very pleased with its financial results to date, especially its top-quartile netback of $56.08 year to date. Invicta is on track to achieving the previously forecasted $6.4-million funds flow (nine cents per share) and annualized fourth quarter funds flow of $10-million (13 cents share). Volatility in realized oil prices and delays in bringing on the wells drilled in the second quarter were offset by lower operating costs and royalty rates. The company's exit oil production remains at 535 bbl/d. The exit production will be 625 to 675 boe/d, approximately 7 per cent lower than the previously forecasted 675 to 725 boe/d as the company has reduced the forecast for solution gas to reflect curtailments at third party processing facilities. It is important to note that solution gas volumes have a large impact on the boe measure, but very little impact on financial results as oil production accounts for 96 per cent of oil and natural gas revenues.

Outlook

Invicta is positioned for growth with top-quartile operating netbacks and a drilling inventory in excess of 200 development locations on its low-risk light oil resource play at Kindersley. The company continues to work on a number of light oil prospects in central Alberta and looks forward to drilling and developing its next core area in 2013.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aVCA-1988928&symbol=VCA&region=C

Kostolanys Erbe schrieb am 02.08.2012, 21:57 Uhr[/url]"]Invicta completes six-well drill program at Kindersley

2012-08-02 07:32 ET - News Release


Mr. Gordon Reese reports

INVICTA ENERGY ANNOUNCES COMPLETION OF 6 WELL DRILLING PROGRAM AT KINDERSLEY
Invicta Energy Corp. has completed its second quarter, six-horizontal-light-oil-well (3.3 net) drilling program at Kindersley, Sask. Due to wet weather conditions in the fourth quarter of these wells are still in initial flowback, but at favourable rates. The first two wells of the program have been producing for two months at an average rate of 45 and 75 barrels per day, respectively. Based on the initial production rates of the six wells, Invicta expects these wells to outperform the company's forecasted type curve. Current net field production is estimated to be over 400 barrels of oil equivalent per day (85 per cent light oil). As these wells stabilize they will be tied into the company's production facilities.

In addition, Invicta has added over 10 sections of 100-per-cent land through Crown land sales and acquisitions, and now has 53,232 net acres of land in Alberta and Saskatchewan. From this developing land base, Invicta has the potential to develop a second core resource base to complement its current development on lands in Kindersley, Sask.

Invicta is finalizing its second quarter financial results. The company will press release the second quarter in the third week of August in conjunction with updated guidance and drilling plans for the remainder of the year.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aVCA-1982127&symbol=VCA&region=C


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Kostolanys Erbe schrieb am 22.06.2012, 18:54 Uhr[/url]"]Was meinen die Öl-Experten von euch?

Neuvorstellung:

Invicta Energy Corp. (TSXV:VCA) is an emerging oil and gas company focused on the development and exploitation of its light oil Viking resource lands located along the Viking trend from Kindersley, Saskatchewan to Redwater, Alberta.

http://www.invictaenergy.ca/index.html

Aktuell Marketcap. ca. 12 Mio.CAN$
Haben Verbindlichkeiten, aber die Kosten pro Barrel lagen
nach dem letzten Bericht bei 9,87 CAN-$.

http://www.invictaenergy.ca/pdf/financials/invictaQ112.pdf

Bei wieder steigenden Ölpreis könnte man hier einen guten Hebel haben.

Bin kein Öl-Experte und möchte daher gerne Wissen, ob ihr das
Unternehmen interessant findet oder nicht!?



Präsentation:
http://www.invictaenergy.ca/pdf/InvictaPPT12.pdf



Invicta Energy Corp. (TSXV:VCA) is an emerging oil and gas company focused on the development and exploitation of its light oil Viking resource lands located along the Viking trend from Kindersley, Saskatchewan to Redwater, Alberta.

Listing:. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VCA.TSXV
Shares Outstanding (basic/diluted):. . . . . . . . . . . . . . . 75.5 MM /101.7MM
Insider Ownership (basic/diluted):. . . . . . . . . . . . . . . . 14% /22% diluted
Institutional Ownership:. . . . . . . . . . . . . . . . . . . . . . . . . 20 – 25%
Market Capitalization . . . . . . . . . . . . . . . . . . . . . . . . . . . ~$20 MM
Current Production:. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 350 – 380 BOE/D (75% oil)
Undeveloped Land:. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46,000 acres (41,900 net)
2P Reserves/PV10: . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2,545 MBOE/$59.2MM



Hierm al ein Update & Ausblick aus März 2012:

http://www.invictaenergy.ca/pdf/currentReleases/Mar1212YEReserves.pdf

NVICTA ENERGY REPORTS 485% INCREASE IN RESERVES IN 2011
& OPERATIONS UPDATE

March 12, 2012 – Calgary, Alberta – Invicta Energy Corp (“Invicta” or the “Company”) (TSXV:VCA) is
pleased to announce the results of its independent reserve evaluation prepared by Fekete Associates Inc.
(“Fekete”) in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas
Activities (“NI 51-101”) and dated effective December 31, 2011, evaluating the Company’s crude oil,
natural gas liquids and natural gas reserves (the “Report”). The Report is primarily based on 13 gross (8.5
net) producing light oil wells at Kindersley, Saskatchewan, 50 gross (27.5 net) proved undeveloped
Kindersley locations and 14 gross (7.7 net) Kindersley probable locations. In January 2012 Invicta drilled
5 gross (2.75 net) of the proved undeveloped locations.
Reserve Highlights – December 31, 2011 as compared to December 31, 2010:

 Proved Reserves - 411% increase to 1,935 mboe
 PV10 before tax of $44.4 million (529% increase)
 Reserve life index of 12.4 years (1)
 Finding costs(2)(3) of $21.62/boe (19% reduction)
 Recycle ratio(4) of 2.34 (56% increase)
 Reserve replacement(5) of 3,041%
 Net asset value(6) of $0.61 per share based on NPV@10% (100% increase)
 Proved plus Probable Reserves - 485% increase to 2,545 mboe
 PV10 before tax of $59.2 million (582% increase)
 Reserve life index of 16.4 years (1)
 Finding costs(2)(3) of $19.64/boe (16% reduction)
 Recycle ratio(4) of 2.61 (52% increase)
 Reserve replacement(5) of 4,089%
 Net asset value(6) of $0.79 per share based on NPV@10% (128% increase)
 Company interest proved plus probable reserves are comprised of 61% light oil and 39% associated
gas
 176% increase in proved plus probable reserve per share growth
 Land holdings of 41,900 net undeveloped acres at December 31, 2011
(1) Calculated using Invicta’s forecasted 2012 average production rate of 426 boepd.
(2) Based on 2012 estimated capital expenditures of $11.2 million.
(3) Based on $23.6 million change in proven future development costs and $31.2 million change in proven plus probable future development costs.
(4) Based on Invicta’s forecasted operating netback of $52.65/boe
(5) Based on estimated 2011 production of 53,000 boe
(6) Assumes $4.0 million of undeveloped land and seismic value, $3.1 million of estimated net debt @ Dec 31, 2011 and 75.5 million basic outstanding shares.
Reserves
The following tables provide summary information presented in the Report effective December 31, 2011. The Report evaluated the oil, NGL and natural gas reserves attributable to the Company’s crude oil, natural gas liquids and natural gas reserves effective December 31, 2011. Detailed reserve information will be presented in the Statement of Reserves Data and Other Oil and Gas Information section of the Company’s Annual Information Form scheduled to be filed on SEDAR on or before March 31, 2011. Also due to rounding, certain columns may not add exactly.
The net present value of future net revenue attributable to reserves is stated without provision for interest costs and general and administrative costs, but after providing for estimated royalties, production costs, development costs, other income, future capital expenditures and well abandonment costs for only those wells assigned reserves by Fekete. It should not be assumed that the undiscounted or discounted net present value of future net revenue attributable to reserves estimated by Fekete represent the fair market value of those reserves. Other assumptions and qualifications relating to costs, prices for future production and other matters are summarized herein. The recovery and reserve estimates of oil, NGL and natural gas reserves provided herein are estimates only. Actual reserves may be greater than or less than the estimates provided herein.
The Report is based on certain factual data supplied by the Company and the Company’s opinion of reasonable practice in the industry. The extent and character of ownership and all factual data pertaining to petroleum properties and contracts (except for certain information residing in the public domain) were supplied by the Company to Fekete. Fekete accepted this data as presented and neither title searches nor field inspections were conducted.
Summary of Oil and Gas Reserves – Forecast Prices and Costs
Company Interest Reserves Before Royalty
Company Interest Reserves After Royalty
Light and Medium Crude Oil
Heavy Oil
Natural Gas Liquids
Natural Gas
Light and Medium Crude Oil
Heavy Oil
Natural Gas Liquids
Natural Gas
Mbbls
Mbbls
Mbbls
MMcf
Mboe
Mbbls
Mbbls
Mbbls
MMcf
Mboe
Proved
Developed Producing
196.7
-
0.6
800
330.6
190.9
-
0.4
774
320.3
Developed Non-Producing
-
-
-
-
-
-
-
-
-
-
Undeveloped
962.5
-
-
3850
1604.2
945.7
-
-
3349
1503.9
Total Proved
1159.2
-
0.6
4650
1934.8
1136.6
-
0.4
4123
1824.2
Probable
387.7
-
0.2
1336
610.6
380.6
-
0.2
1209
582.3
Total Proved plus Probable
1546.9
-
0.8
5986
2545.4
1517.2
-
0.6
5332
2406.5
Net Present Value of Future Net Revenue – Forecast Prices and Costs Before Future Income Tax
Before Future Income Tax Expenses and Discounted at
0%
5%
10%
(M$)
(M$)
(M$)
Proved
Developed Producing
14826.6
12862.8
11398.2
Developed Non-Producing
-
-
-
Undeveloped
55700.0
42430.1
32968.5
Total Proved
70526.6
55292.9
44366.7
Probable
26859.6
19609.6
14829.7
Total Proved plus Probable
97386.2
74902.5
59196.4
Operations Update
Invicta is pleased to announce the results of its winter drilling program at Kindersley. Invicta drilled 7 gross (3.8 net) horizontal Viking wells. All 7 wells have been completed with multi-stage fracs and placed on production in addition to being flowlined into existing infrastructure. Peak production from the best well flowed 140 bopd (gross oil only) on a restricted choke and averaged 95 bopd during the first 30 days. Management is pleased with the performance of the remaining wells as they fall within the typical Viking oil production profiles for the area and Invicta’s economic type curve. Since drilling its first wells in 2010 Invicta has only drilled 18 of its 190 location inventory and has significantly de-risked the uncertainty in horizontal oil wells on its property. Total corporate production is currently 350-380 boepd (75% oil). A rig has been secured for the drilling of up to 6 wells immediately following spring break-up in the Kindersley area.
Based on production history to date on the new wells drilled, ATB Financial increased the Company’s credit facility from $6 million to $8.5 million. The Company expects further increases in the credit facility based on the Report. The annual review was scheduled for May 2012 however the Company has requested ATB Financial to begin their review.
The Company has posted an updated corporate presentation to its website.
About the Company
Invicta is a Calgary based, emerging junior oil and gas company exploring and developing light oil opportunities in Saskatchewan and Alberta. The Company’s current focus is the development of its Viking resource play in Kindersley, Saskatchewan.
For further information please visit our website at www.invictaenergy.ca or contact the following:
Gordon Reese
or
Carrie McLauchlin
President & CEO
Vice President, Finance & CFO
(403) 265-8890 ext 1
(403) 265-8890 ext 4
Cautionary


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