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Market: TSX
Sector: Oil & Gas Exploration & Production
Epic: TSX:PEF
News: Latest news
Web Site: Petroflow Energy
Other Articles: 25-11-2008

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Thursday September 02, 11:00Baobab Resources identifies distinct ore domain at Tete’s South Zone

Baobab MD Ben James said the latest drilling results from the Tete project's South Zone characterise a distinct, higher mass recovery, ore domain.

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Thursday September 02, 08:15Indonesia edges closer toward uranium mining and nuclear power

After nearly five decades of national debate on the issue, Indonesia's central government may finally be ready to develop a national nuclear policy, which may lead to domestic uranium mining.

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Wednesday September 01, 01:25Green Dragon Gas reports significant growth as China’s thirst for energy continues

China's thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today. In the company's interim results, [...]

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Petroflow Energy

Petroflow Energy

Petroflow’s primary development activity is the Hunton Resource Play in Oklahoma.  The company currently have three drilling rigs running continuously on the project.  
Tuesday, November 25, 2008

Petroflow Energy Ltd Executes Additional Hunton Joint Venture in Oklahoma

Petroflow Energy Ltd said it has executed its formal joint venture agreement with Patron Energy LLC to develop the Hunton Resource Play and other formations in Oklahoma.

Petroflow is currently involved in seven Oklahoma counties with Enterra Energy Trust. This latest joint venture significantly adds to Petroflow's extension plans in Oklahoma.

The Patron deal will allow Petroflow to own working interests that vary between 65 percent and 70 percent in three new project areas initiated by Patron. Specific advantages to Petroflow include leased mineral rights in approximately 4,600 net acres of land in one of the project areas; plus existing evaluations of the geological potential within the other areas.

Petroflow has paid Patron $US1 million, reimbursing its partner for 70 percent of its costs in the three project areas.

The joint venture deal also gives Petroflow an existing 'right of first refusal' agreement with a team of experienced geologists in the Oklahoma region. Petroflow, with Patron, now holds 'right of first refusal' options on any projects proposed by the geological team; however, Petroflow is not obligated to participate.

Patron is privately held and Richard Azar, who is a director of Petroflow, owns 20 percent of Patron.  He intends to participate in the activities to be undertaken with working interests of approximately 6 percent.

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