Sunday, October 31, 2010

Five Moly Stocks Profiled in "Under the Rocks"

I'll be sending out a report on Monday profiling 5 Moly Jr's who will be the benefactors of China's decision on Friday to restrict production of Moly. This news will provide the same spark for the Moly Jr's as it did for the REE Jr's when the Chinese announced they were restricting REE production. The report will profile one producer, one pure exploration play and three companies with substantial moly deposits already delineated. Make sure you're on the distribution list.


Wednesday, October 27, 2010

Covenant sets 2010-2011 exploration budget at $3-million

Covenant sets 2010-2011 exploration budget at $3-million

2010-10-26 13:53 ET - News Release

Mr. Frank Port reports


Covenant Resources Ltd. has publicly released a technical review for its recently acquired oil and gas leases in the Sweetgrass Arch area of Montana, consisting of 41,500 net acres in Toole and Pondera counties.

The report, prepared by MHA Petroleum Consultants LLC, an independent qualified reserves evaluator, meets National Instrument 51-101 disclosure standards and is available on SEDAR.

The Sweetgrass Arch of northwest Montana is part of an active oil and gas district (Alberta basin). The area surrounding the company's leases has produced economic oil and gas pools, as well as a series of new discoveries, and is presently being actively explored by Texas-based Quicksilver Resources, Newfield Exploration Co. and Rosetta Resources, among others. Recent activity in the region reflects continued strong interest in those parts of Montana, North Dakota and Saskatchewan that cover the Bakken shale oil field. The Bakken formation hosts one of the largest contiguous deposits of oil and natural gas in the United States, according to the U.S. Geological Survey.

The company anticipates a 2010-2011 work program with an estimated budget of $2.5-million to $3-million to explore its leases. The proposed program would include a minimum eight-well drill program, to be based on newly acquired seismic data and directed at depths considered mostly favourable to host oil resources. The company will continue to seek and evaluate additional North American oil and gas properties with production potential in order to achieve its goal of becoming a mid-tier oil and gas company.

We seek Safe Harbor.

Tuesday, October 19, 2010

The "Father" of the Bakken joins Covenant

Covenant Resources names Findley executive director

2010-10-19 10:09 ET - News Release

Mr. Frank Port reports


Covenant Resources Ltd. has appointed Richard (Dick) Findley, a geologist with more than 35 years of experience in the oil and gas industry, as executive director. Mr. Findley is credited with the discovery of Elm Coulee field in Richland county, Montana, which led to intense exploration interest in the Bakken formation (part of the Williston Basin), now considered one of the largest contiguous deposits of oil and natural gas in the U.S.

Mr. Findley is a member of the American Association of Petroleum Geologists and in 2006 received the Outstanding Explorer Award for his efforts in discovering Elm Coulee field. The same year he was also awarded the Michel Halbouty Medal by Texas A&M University, where he earned his BSc (1973) and MSc (1975) degrees.

Mr. Findley is president of Prospector Oil Inc. and American Eagle Energy Inc. and has held board and advisory positions with various other companies. In 1983, he formed Prospector Oil to build an independent company focused on the Williston Basin and Northern Rockies. He also served as chairman of Ryland Oil Company, a pioneer in Bakken formation exploitation in Saskatchewan and North Dakota, prior to its recent acquisition by oil and gas producer Crescent Point Energy Inc.

"As we commence an exploration program on our Alberta basin, Sweetgrass Arch prospect, having Dick join our team at this time is very significant," said Frank Port, president. "Dick's level of expertise and track record of success will benefit all shareholders as we continue to expand our footprint into the Williston Basin."

Sunday, October 17, 2010

Covenant appoints Murray as chairman

Covenant appoints Murray as chairman

2010-10-15 11:03 ET - News Release

Mr. Frank Port reports


Covenant Resources Ltd. has appointed director Bruce James Murray, a native Calgarian with 29 years of varied business and oil and gas experience, as its new chairman of the board.

"We are pleased that Bruce has accepted this nomination," said Frank Port, chief executive officer. "His leadership, depth and scope of industry expertise and operations knowledge will be important drivers for success in the future."

Mr. Murray has worked with both senior and junior oil and gas companies since earning his bachelor of commerce degree from the University of Calgary in 1979. He was president and director of the Toronto Stock Exchange-listed Tenergy Ltd. from 2005 until it was sold for $92-million to First Reserve and Quintanna Oil and Gas in early 2006, and was previously chief operating officer and director of TSX-listed Purcell Energy Ltd., which he co-founded. Approximately two-thirds of Purcell's assets were sold to Prairie Schooner Petroleum and Crescent Point Energy Ltd. for more than $150-million in 2005. The remaining assets were spun into two exploration companies, one of which was Tenergy Ltd.

Tuesday, October 5, 2010

Covenant appoints four members to advisory board

As shown below, Covenant is buiding a team that rivals mid-tier energy companies. I would strongly encourage you to look into this group further as this is a ground floor opportunity that doesn't come along very often.

Covenant appoints four members to advisory board

2010-10-05 11:03 ET - News Release

Mr. Frank Port reports


Covenant Resources Ltd. has appointed the following members to Covenant's advisory board to assist in the oil and gas operations, and general corporate development of Covenant.

W. Milton Cox

Mr. Cox has 25 years of executive experience in resource investment management, corporate restructuring, finance, mining, and international oil and gas. From 1982 to present, he has been president and chief executive officer of CodeAmerica Investments LLC, a multifarious mineral resource investment and management company with interests in mining and oil and gas production worldwide. Mr. Cox previously was the president and CEO of Diamond Oil and Gas which was sold in 1998; it held property and production in Canada and the United States. He holds a bachelor and MBA as well as a BSc petroleum geology certificate. Mr. Cox is also a certified gemologist with the Gemological Institute of America and is a member of the ASME International Petroleum Technology Institute.

Tom Lantz

Mr. Lantz is a professional engineer, possessing more than 30 years of experience in oil and gas reservoir, and operations engineering. Before joining the company, Mr. Lantz served as vice-president operations for a wholly owned subsidiary of Ryland Oil Corporation, prior to being bought out by Crescent Point Energy Corp. From 1998 through 2006, Mr. Lantz was employed as an asset manager for Halliburton Energy Services, during which time he led the efforts for several highly successful development programs for Halliburton's clients, including the initial development of the Elm Coulee oil field. He served as U.S. operations manager for Enerplus Resources after it acquired a major interest in the Elm Coulee field from Lyco Oil Corporation.

Asif Khan, founder and CEO of FrontierAlt Investment Management Corp.

Mr. Khan has over 18 years of financial services and capital markets industry experience. Prior to FrontierAlt Capital Corp., he was senior vice-president of Strategic Nova Mutual Funds Inc. from 1998 until it was sold in 2002. Mr. Khan was a member of the product development team at Strategic Nova and at Goodman & Company Investment Counsel Ltd. He has been involved in the oil and gas and mining sector since 1998 and has been involved in raising of capital for over 60 junior resource companies.

David Tkachuk

Mr. Tkachuk was appointed to the Senate of Canada in 1993 and is deputy chair of the transport and communications committee. He is also a member of the Energy and Environment, Banking, Trade and Commerce, and the National Security and Defence committees and served on the Agriculture and Forestry committee. As a senator from Saskatchewan for nearly two decades Mr. Tkachuck has been representing the province and Canadians in Ottawa on a variety of legislative and public policy fronts.

"The addition of these high-profile professional members to Covenant's advisory board substantially adds to the expertise to Covenant's management team and is the next step in developing into a mid-tier oil and gas company," said Frank Port, Covenant chairman, president and chief executive officer.

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