NYMEX N. Gas: US$5.01 -$0.15 per MMBTU July · PDF filethrough" basis under the Income Tax Act (Canada), at a price of $0.30 per share. ... * Note - there will be no 'Open...

Published By NEWS COMMUNICATIONS since 1977 Weekender Saturday June 19, 2010

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ilfield NEWSNYMEX OIL: US$77.35

+$0.56July delivery

NYMEX N. Gas: US$5.01-$0.15 per MMBTU

July delivery

BP CEO TO GIVE UP CONTROL OF SPILL EFFORTS

BP CEO Tony Hayward will turn over control of the company's handling of the Gulf of Mexico oil spill to managing director Bob Dudley, Sky News reported Friday. The London broadcaster said BP chair Carl-Henric Svanberg confirmed Hayward "is handing over the operation to Bob Dudley, "who currently oversees operations in the Americas and Asia. In excerpts of an interview posted on the Sky News website, Svanberg doesn't explain why the handover is happening or who decided that it should. He acknowledged that some of Hayward's comments about the spill clearly "upset people," referring to statements by Hayward that appeared to downplay the seriousness of the spill's consequences. Until this week, Svanberg had remained virtually out of sight since the BP-leased Deepwater Horizon drill rig exploded April 20 and sank, causing the biggest environmental disaster in U.S. history. He made a first appearance at a meeting with U.S. President Barack Obama on Wednesday and plans now to expand his involvement, Sky News reported on its website.

SHELL STILL IN TALKS ON MONTREAL REFINERY

Royal Dutch Shell Plc is still talking to a potential buyer for its Montreal East oil refinery, the head of the special committee formed to sell the facility said on Friday. Michael Fortier, who led a committee formed to find a buyer for the 130,000 barrel per day refinery after Shell failed to attract any offers, said one of two bidders rejected at the beginning of the month has raised its bid. There is a (potential) buyer that is right now talking to Shell," Fortier said in an interview. A spokesman for Shell could not be immediately reached for comment. Radio-Canada and other media in Quebec reported on Wednesday that Delek U.S. Holdings, an arm of Israeli energy, automotive and real estate conglomerate

Delek Group, had doubled a previous offer for the refinery to C$150 million ($147 million) but no source for the information was given and both companies declined comment. Fortier, who said on Friday that the special committee has been disbanded, also declined to confirm the identity of the bidder.

HYDUKE ANNOUNCESPRIVATE PLACEMENT

Hyduke Energy Serv ices Inc .has announced that it has closed a private placement to a senior officer, pursuant to a prospectus exemption, effective June 16, 2010. The private placement was comprised of 2,196,533 common shares at a price of $0.40 per common share. The private placement resulted in total gross proceeds to Hyduke of $878,613. The net proceeds after expenses raised from the private placement will be used by Hyduke for working capital purpose.

EQUA ANNOUNCES INCREASEIN BOUGHT DEAL FINANCING

Equal Energy has announced that the Company has reached an agreement with a syndicate of underwriters led by Wellington West Capital Markets Inc. to increase its previously announced Offering to a total size of $35,100,000. Under the agreement, the Underwriters will now purchase from Equal 5,200,000 common shares at an issue price of $6.75 per Common Share. All other terms and conditions of the Offering remain the same as previously announced. Proceeds from the Offering will be used to fund the Company's ongoing capital expenditure program and for general corporate purposes. The Common Shares are being offered in all provinces of Canada by way of a short form prospectus, and in other jurisdictions pursuant to applicable exempt ions f rom regist rat ion and prospectus requirements. Closing of the Offering is scheduled to occur on July 9, 2010, and is subject to certain conditions including the approval of the Toronto Stock

gross proceeds of $231,000. The Company issued 770,000 common shares on a "flow-through" basis under the Income Tax Act (Canada), at a price of $0.30 per share. The Company expects to close the final tranche of the Private Placement in the near future. In connection with the Private Placement, the Company paid a 5% finder's fee on

Exchange and the receipt of necessary regulatory approvals.

BASE CLOSES FIRST TRANCHEOF NON-BROKERED FINANCING

Base Oil & Gas Ltd. has closed the first tranche of its previously announced non-brokered private placement for aggregate

2 FORTRESS RISE SWThis stunning private estate home resides in the wealthy community of Springbank. Surround yourself with quality world class finishings as soon as you walk up the grand staircase, pass through the stately entrance and allow yourself to relax as you immerse yourself in the modern yet warm lines and designs of your new dream home. Enjoy top-of-the-line finishings such as real exterior stonework, Louis Vuitton tiles in the bathrooms, Viking commercial kitchen appliances, built-in cappuccino machine, an $85K security system, and much more!

Offered at $2,310,000

SPRINGBANK HILL

Heather WaddellRealtor®

Royal LePage Foothills 403-249-4322

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Open House*Saturday, June 19th 2-4 pm

Charity Luxury Home Event June 26 & 27 1-3* Note - there will be no 'Open House' signs’ posted on the property

$2,500,000#2301 836 15 AV SW Calgary

Margaret NeffMaxwell Canyon Creek 403-617-4733

[email protected] www.onthemovewithmarg.ca

LUXURY ON TOP OF THE WORLD IS WAITING FOR YOUMagnif icent beauty from floor to ceil ing from the minute you step intothe Grand Entrance 17 ft ceilings, custom sculptured glass wall, granite/marble floor with accent lighting. Over 3000 sq ft of elegant living in the heart of the beltline. Views of everything you could possibly want from Mountains to downtown skyline and more. Walking distance to trendy boutiques, and the finest restaurants Calgary has to offer. This property is presented by:

FOR SALE - EMERALD STONE PENTHOUSE!

$210,000 of the gross proceeds. The proceeds will be used towards financing the Company's share of the second earning well ("2nd Earning Well") under a previously announced farm-in agreement to develop Cardium production with a private company in the Pembina area. The private company has pooled its Cardium working interest in the related section with the working interests of two additional partners. By paying 37.5% of the drilling, completing, equipping and tie-in costs of the 2nd Earning Well, Base will earn a 22.5% working interest in the well and the Cardium within the section.

MULLEN DECLARES DIVIDENDThe Board of Directors of Mullen Group Ltd. has announced that it has declared a dividend of $0.125 per Common Share payable to the holders of Common Shares of record at the close of business on June 30, 2010. The dividend will be paid on July

15, 2010. For Canadian resident shareholders, this dividend is designated as an "eligible dividend" for purposes of the enhanced dividend tax credit rules contained in the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation.

PARAMOUNT BEGINS OPERATIONSOF NG STORAGE PROJECT

Paramount Energy Trust has announced that its wholly-owned subsidiary Warwick Gas Storage Inc. is proceeding with the development and commercial operation of its natural gas storage facility (the "WGSI Facility") in the Warwick area near Vegreville, Alberta. In addition, the related funding arrangements for the facility have been entered into and are presently held in escrow. The WGSI Facility is being developed utilizing a depleted 40 Bcf gas pool in the Upper Mannville Formation with approximately 10 Bcf of cushion gas in

place. The storage reservoir is ideally suited for commercial operations due to its p rox im i t y t o ex tens i ve ma in l i ne transportation infrastructure, the low pressure nature of the reservoir, the cushion gas in place and the injection and withdrawal capability of the reservoir. Nine horizontal injection/withdrawal wells were drilled in the last half of 2009 and the first quarter of 2010 to develop the reservoir for gas storage purposes. Including all drilling and testing, land, facilities and seismic activities, total project expenditures to the end of the first quarter of 2010 were $20 million. WGSI expects to expend an additional $37 million during the final three quarters of 2010 related to the purchase and installation of two compressors and associated surface facilities designed to allow for the withdrawal of up to 105 MMcf/d beginning as early as November of 2010. WGSI commenced commercial injection of natural gas in early May of 2010. Initial

injections are being limited to 22 MMcf/d as reservoir performance is monitored. WGSI plans to enter into park and loan transactions for up to 8 to 10 Bcf of natural gas storage for withdrawal in the period of December 2010 through March 2011 while continuing to monitor reservoir pressures and confirming the injection and withdrawal capabilities of the wells and facility. The company plans to utilize an estimated 17 Bcf of storage capacity in 2011 with no additional capital spending. Upon expansion of the facility for full scale operations, adding compression and 3 to 5 additional wells, it is expected that the WGSI Facility will be capable of 1.5 injection and withdrawal cycles of 22 to 25 Bcf of working gas annually. Funds flow for the WGSI Facility is projected to total $6 million for 2010, and is forecast to ramp up to $15 to $20 million in 2011, as utilization of the storage capacity is increased. Upon future expansion of the facility to utilize the full storage capacity of

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BC FARM AND RANCH REALTY CORP.Gordie Blair Cell 250-517-0557 Toll Free 1-888-852-2474 Email [email protected]

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LOCATIONLOCATION

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Pender Island B.C. Rare, sunny, well cared for oceanfront w/moorage, Subdividable 1.2 hectares,beautifully landscaped, ample parking for R.V. or Boat,

wheel chair accessible, 1 level 3 Bedroom, 2 Baths, ss granite kitchen, 2000 + sq.ft.$1.26m Phone 250.629.3408 or email [email protected]

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SASKATCHEWAN - SWIFT CURRENT

WATERFRONT LAKE LOTS

Call 306-241-7207e-mail: [email protected]

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FOR SALEBUFFALO LAKE, AB

Near Bashaw - 1/2 acre lake lot in a gated community

Call (780) 914-0005

$115,000.00

FOR SALE

FISHING RESORT FOR SALE

Tiered, 5+ acres, 145+ feet shoreline * 35 serviced seasonal trailer sites. * 4 serviced transient/tent sites. * 8 fully equipped rental accommodations; 6 cottages, 1 trailer, 1 apartment (800 sqr. ft. year round). * 820 ft. permanent docks with 50 boat slips. * 2400 sq. ft. secure storage facility. * 9 rental boats. * Boat servicing; launching, docking, gasoline, pump-out, water. * Heated, in-ground swimming pool. * Showers, launderette, washrooms. * 4,500 sq. ft main building with store, living quarters plus apartment.

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langresort.come-mail: [email protected]

Rice Lake - Ontariojust 90 minutes east of Toronto

Well established, well maintained, turnkey, seasonal business, offering a lifestyle opportunity for an active buyer.

Call Rick Zaparaniuk or Delphine Gehl

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We have a number of cottages, Lakefront & Lakeview titled lots at Round Lake in the beautiful Qu'Appelle Valley just 2 hours east of Regina, SK.

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the reservoir, funds flow is expected to exceed $20 million annually. Actual funds flow is subject to variability related to the operational performance of the reservoir and the facilities, electrical power generation costs, fluctuations in commodity prices, other market conditions impacting the forward natural gas pricing spreads and other operational variables.

KALLISTO INCREASESPRIVATE PLACEMENT

Kallisto Energy Corp. has announced the following: 1. The Company has agreed to increase the previously announced private placement by up to an additional 1,212,121 Common Share Special Warrants at a price of $0.825 for additional gross proceeds of up to $1,000,000. In addition, the Company has agreed to extend the time for exercise of the over-allotment option previously granted to the underwriters. The Company expects to issue up to an additional 2,299,274 Common Share Special Warrants pursuant to the over-allotment option at a price of $0.825 for gross proceeds of up to $1,896,900. A fee of 6% of the gross proceeds will be paid to the underwriters. Kallisto expects to close this transaction on Tuesday, June 22, 2010. Following this second tranche closing, the Company expects to have issued a total of approximately 13,939,395 Common Share Special Warrants and 1,578,948 Flow-Through Special Warrants pursuant to the private placement of Special Warrants for aggregate proceeds of approximately $13,000,000. 2. Kallisto has closed the sale of certain petroleum and natural gas rights in the Crossfield, Alberta area to a private Calgary-based company. Under the terms of the sale a) Kallisto sold a 50% working interest in 7 1/2 sections (1,920 hectares) of petroleum and natural gas rights for cash consideration of $3,000,000; b) Kallisto and the private company equalized their participation on a 50/50 basis in an additional 2 1/4 sections (576 hectares) of petroleum and natural gas rights owned by Kallisto and in 2 sections (512 hectares) of petroleum and natural gas rights owned by the private company. As a result of this equalization, Kallisto paid the private company $58,302; c) the parties agreed to a defined area of mutual interest (the "AMI") to jointly develop the lands described above; and d) the parties executed a joint venture agreement governing the operation of the AMI lands. As a result of this transaction, Kallisto owns a 50% interest in 11 3/4 sections (3,008 hectares) in the AMI. Kallisto expects to participate in the drilling of 4 - 6 wells (2 - 3 net) on these lands in 2010. The planned horizontal wells will be drilled into the Viking formation and are expected to be completed with multi-stage fracture stimulations. 3. Kallisto has closed a second transaction involving Crossfield, Alberta petroleum and natural gas rights. In March 2010, Kallisto entered into a joint bid participation agreement with a second private company to purchase crown lands. Pursuant to the joint bid participation agreement, Kallisto paid a total of $884,154.14 for a 50% interest in 3 sections (768 hectares). Kallisto and the second private company are currently negotiating a joint venture agreement to develop these Viking prospective lands. 4. In addition to its interest in the Crossfield lands mentioned above, Kallisto has working interests in

approximately 14 gross sections (3,572 hectares), 11 net sections (2,842 hectares) of lands that are prospective for Viking horizontal wells in the Crossfield area. Kallisto's total lands that have Viking potential in the Crossfield area are approximately 28 3/4 gross sections (7,348 hectares) gross, 18 1/2 net sections (4,730 hectares). 5. On June 16, 2010, the board of directors granted 680,000 stock options to directors, officers, consultants and employees of the Company. The options are exercisable at $0.91 per share, expire on June 16, 2015 and vest over a two year period. The Company now has 2,972,500 stock options outstanding. 6. On June 10, 2010, the 8% convertible debenture in the principal amount of $200,000 was converted into 701,754 Common Shares at a price of $0.285 per share. The debenture was originally issued on June 25, 2008 to Angela Lore, the wife of Robyn Lore, prior to Robyn Lore becoming President and Chief Executive Officer of the Company. Certain amendments were made to the debenture on November 19, 2009 and were approved by the TSX Venture Exchange on December 8, 2009. The debenture (as amended) was convertible into Common Shares at a price of $0.285 per share until June 25, 2010 and at a price of $0.40 per share from June 26, 2010 until January 25, 2011. Kallisto now has 29,975,957 Common Shares outstanding.

VELO APPROVES NAME CHANGEVelo Energy Inc. held its Annual and Special Meeting on Monday, June 14, 2010. Among the business of the meeting, shareholders approved a special resolution to amend the articles of the Company, including changing the Company's name to "Canadian Overseas Petroleum Limited", and also to consolidate the common shares at a ratio to be determined by the directors. After the meeting, the directors determined the ratio to be 1 post-consolidation common share for every 4 pre-consolidation common shares. The consolidation of common shares was made to market the Company more effectively in anticipation of future equity financings. Currently the Company has 95,863,738 common shares outstanding, and once the consolidation has been completed this number will then become 23,965,935. Both the change of the Company 's name and the share consolidation are expected to occur at the end of July 2010, subject to regulatory approval.

TRINIDAD DECLARES Q2 DIVIDEND

The Board of Directors of Trinidad Drilling Ltd. has declared a cash dividend for the second quarter of 2010 of $0.05 per common share to be paid July 15, 2010 to shareholders of record on June 30, 2010. The dividend is designated as an "eligible dividend" for Canadian Income Tax purposes.

ANTLER CREEK INCREASES FINANCING

Antler Creek Energy Corp. has announced that, in connection with its previously announced offering of common shares the Company and the syndicate of underwriters, led by Canaccord Genuity Corp. and including GMP Securities L.P., Peters & Co. Limited, Cormark Securities Inc., and

Paradigm Capital Inc., have agreed to increase the size of the offering to an aggregate of 24,050,000 Common Shares at a price of $1.04 per Common Share for aggregate gross of approximately $25,012,000. Antler Creek has also granted the underwriters an option to purchase up to an additional 3,607,500 Common Shares to cover over-allotments, if any, at a price of $1.04 per Common Share for addi t ional gross proceeds of approximately $3,751,800. The Over-Allotment Option is exercisable in whole or in part for a period of 30 days following closing of the offering. Proceeds of the offering will be used for the expansion of Antler Creek's capital program and for general corporate purposes. The Common Shares will be offered in certain provinces of Canada by way of a short form prospectus. Closing is expected to occur on or about July 7, 2010 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

MULLEN ANNOUNCES NORMAL COURSE ISSUER BID

Mullen Group Ltd. has announced hat the Toronto Stock Exchange has accepted Mullen's Notice of Intention to commence a Normal Course Issuer Bid to purchase, from time to time, as it considers advisable, up to 7,330,594 common shares (which is equal to 10% of the "public float" of 73,305,937 common shares) on the open market through the facilities of the TSX. The Bid

follows the expiration of Mullen's previous Bid which expired on June 14, 2010. During the course of the previous Bid, Mullen repurchased for cancellation 1,902,475 common shares of the Company, at an average purchase price of $14.34 per common share. The number of common shares that can be purchased pursuant to the Bid is subject to a daily maximum of 41,966 common shares (which is equal to 25% of the average daily trading volume of the common shares of Mullen from December 1, 2009 through to May 31, 2010). The price that Mullen will pay for any common share under the Bid will be the prevailing market price on the TSX at the time of such purchase. Common shares acquired under the Bid will be subsequently cancelled. Mullen currently has 78,714,105 common shares outstanding. The Bid will commence on June 16, 2010 and will terminate on June 15, 2011 or such earlier time as the Bid is completed or terminated at the option of Mullen. A copy of the Form 12 - Notice of Intention to make a Normal Course Issuer Bid filed by the Company with the TSX can be obtained from the Company upon request without charge. The Company has commenced the Bid because it believes that, from time to time, the market price of its securities will not properly reflect the underlying, intrinsic value of Mullen, and that, at such times, the purchase of common shares for cancellation will increase the proport ionate interest of , and be a d v a n t a g e o u s t o , a l l r e m a i n i n g shareholders.

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