Clean Energy Fuel Corp Is Receiving $150M Investment From Chesapeake Energy

- Clean Energy Fuel Corp Is Receiving $150M Investment From Chesapeake Energy



Jul 12, 2011

Clean Energy Fuel Corp. (NASDAQ:CLNE) is receiving a $150 million investment from Chesapeake Energy Corp. (NYSE:CHK) as part of the company's $1 billion fund to invest in companies that develop infrastructure or technology to increase the use of gas as a motor fuel, according to a Bloomberg report.

Clean Energy Fuels has a potential upside of 17% based on a current price of $14.82 and an average consensus analyst price target of $17.33.

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GL Noble Denton Bags Gig for Queensland Curtis LNG Proj.

- GL Noble Denton Bags Gig for Queensland Curtis LNG Proj.

Tuesday, July 12, 2011
GL Noble Denton

QGC has selected GL Noble Denton to provide verification services for the development of the Queensland Curtis Liquefied Natural Gas (LNG) project, which is expected to supply more than 8.5 million tonnes of LNG per annum through the development of two
LNG trains.

GL Noble Denton's experts will oversee the pipeline construction portion of the project over a two-year period. The company will supply
inspection services for the installation of the 540 kilometer underground line between natural gas fields in Australia's Surat Basin
and a natural gas liquefaction plant on Curtis Island near Gladstone on Queensland's coast.

The quality assurance and control contract was awarded to GL Noble Denton following the successful completion of an in-depth study into the production capacity of the LNG plant design that will be built on Curtis Island. GL Noble Denton used its in-house Monte Carlo simulation software, OPTAGON to provide a holistic assessment of the ability of the LNG plant to meet its intended use. The model also identifies equipment criticality and their contributions to unplanned downtime, and has provided results that have added significant strategic and operational value to the project.

Richard Bailey, GL Noble Denton's Executive Vice President for Asia Pacific said, "The Queensland Curtis LNG project is one of the
Australian oil and gas industry's most exciting developments to date. It will help define the country as a leading producer and exporter of
natural gas, and we are delighted to play a role its development.

"Demand for GL Noble Denton's services has increased considerably in Australia over the past year, as operators continue to unlock the
significant potential of the natural resources available on- and offshore the country."

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Breitling Kicks Off Drilling at Tx. Well

- Breitling Kicks Off Drilling at Tx. Well

Tuesday, July 12, 2011
Breitling O&G Corp.

Breitling O&G has spud the Breitling-Big Tex #2 on July 9, 2011 in Gaines County, Texas. The Breitling-Big Tex #2 is the second of three Big Tex prospect wells to be drilled. A completion rig is moving on location to complete the Big Tex #1 after it reached total vertical depth on July 6, 2011.

Just like the Big Tex #1, the Breitling-Big Tex #2 is a 9,000-foot vertical well within the established Tex-Pac Field and is targeting Lower Clearfork Dolomite beneath 8,500 feet. Secondary objectives include the San Andres, Yates, Glorieta and Abo formations.

Breitling's 3-Well Breitling-Big Tex Prospect was developed after a 75-square-mile 3D seismic shoot was reprocessed and interpreted in 2010. The quality of the new data set after it was re-imaged using Breitling's proprietary Geo3D technology identified features that were not noticeable when the shoot first occurred. In essence, the resultant seismic lines were much more detailed and refined, therefore capturing subsurface images not previously acknowledged.

Management anticipates the first well will reach total depth in about 20 days. Well completion and testing should begin during the first week of August.

Breitling Oil and Gas CEO Chris Faulkner stated, "We are excited to be drilling ahead of our original timelines." Faulkner added, "The Big Tex #1 looks promising and we expect the Big Tex #2 to be relatively the same as far as shows and the logs."

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Pacific Rubiales Receives Environmental Permit for Quifa Wells

- Pacific Rubiales Receives Environmental Permit for Quifa Wells

Tuesday, July 12, 2011
Pacific Rubiales Energy Corp.

Pacific Rubiales announced that Colombia's Ministry of the Environment recently granted the Company the requisite environmental permits for Quifa Southwest and Quifa North. The environmental permit for Quifa Southwest was granted on June 2, 2011, and the permit for Quifa North was granted on June 24, 2011 (collectively, the "Permits"). The Permits affirm that Pacific Rubiales can continue its development drilling campaign in Quifa Southwest and proceed with its exploration drilling campaign in Quifa North.

The exploration program is aimed at incorporating drilling results into an updated National Instrument 51-101 compliant reserves report. The Company's exploration program for the second half of 2011 in the Quifa North area includes 3 exploratory and 13 appraisal wells in prospects Q, F, P and Z, while in Quifa Southwest the drilling campaign includes a total of 52 wells (32 vertical and 20 horizontal).
With this drilling campaign, the Company expects to reach a gross production target of 60,000 bbl/d at Quifa Southwest and Quifa North, by the end of 2011. Details of the campaign will be provided to the market on a timely basis.

The Ministry of the Environment is currently conducting an administrative investigation in the Block. Such administrative investigations occur on a routine basis in the ordinary course of business with respect to the execution of the Company's various projects. In response to recent media reports in Colombia, the Company wishes to make clear that the current administrative investigations will not produce material consequences to the Company's current operations in the Block.

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