Invicta Extends Memorandum of Understanding With InterOil Corporation

Fri Jan 4, 7:09 PM

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 4, 2008) - Invicta Oil & Gas Ltd. (the" Company") (TSX VENTURE: IGG.V) announced that further to its news release of October 11, 2007 the Company and InterOil Corporation ("InterOil") have agreed to extend the expiry of the memorandum of understanding (the "MOU") until February 28, 2008.

The MOU is subject to a number of conditions, including but not limited to the execution of definitive agreements contemplated by the MOU. There can be no assurance that these conditions will be fulfilled.


Rich Minerals Corporation announces successful bids in Brazil land auctions

Fri Dec 7, 12:51 PM



CALGARY, Dec. 7 /CNW/ - Rich Minerals Corporation ("Rich" or the "Company") whose common shares trade on the TSX Venture Exchange (the "Exchange") under the symbol "RMC" is pleased to announce that the Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis, Brazilian Federal Oil and Gas Agency ("ANP") has awarded Rich Minerals Corporation two onshore blocks in the Potiguar Basin. In addition Rich, in a Joint Venture with Tarmar Energia e Participaçoes Ltda. ("Tarmar"), a Brazilian oil and gas exploration company, were awarded two blocks in the Rio de Peixe Basin. Rich has a 20% participation in these two blocks.

The four blocks total approximately 71 square kilometres (17,444 acres) of land under concession for oil and gas exploration.

Rich's technical team, consisting of Dr. Augusto Mendonca and Dr. Roberto Moraes were responsible for the evaluation and strategy definition of the blocks in the Potiguar Basin. The Company's technical team selected the blocks to bid on based on geophysical data re-processing and interpretation of gravity and magnetic data. The evaluation was supported by geological information and well data.

The Potiguar Basin is the largest on-shore production area in Brazil, and has excellent infrastructure. The blocks awarded to Rich are located beside a Petrobras producing field, Belem. The Belem field is approximately 150 square kilometres and produces 2200 boe/day. The oil occurs in the Acu Formation at a depth between 200 and 350 meters. The Company focused on two structures revealed by magnetic and gravimetric data evaluation, located in the SE and SW portions of the Belem field. The technical team believes the structures could be extensions of the existing fields. The Company was awarded the blocks located over the identified SW structure, and Starfish Oil and Gas S.A., a medium size Brazilian oil company, won the blocks located in the SE structure. Additional seismic lines will be necessary in order to define well prospects in these blocks.

Although the Rio de Peixe Basin is a new frontier, the correlation of successful plays in the Potiguar Basin, indicate that the Rio de Peixe Basin has prospective areas.


The Brazilian Energy Policy Council, CNPE, confirmed the validity of the 8th round and determined that it must be concluded as soon as possible. The ANP announced that the 8th round must be concluded in the first quarter of 2008 and all blocks must be awarded.

Rich Minerals Corporation was the successful bidder of four blocks in Tucano Basin, primarily a gas-producing region of Brazil. The blocks represent approximately 720 square kilometres (178,000 acres) of land for oil and gas exploration.

October 29, 2007

Avery Resources Wins Bid for Large Highly Prospective Block in Australia's Onshore Cooper-Eromanga Basin

Calgary, Alberta – Avery Resources Inc. (TSX-V: ARY) ("Avery" or "the Company") today announced that its wholly-owned Australian subsidiary Avery Resources (Australia) Pty. Ltd. has been notified that it is the preferred tenderer for ATPA 934P, an additional 1,430 sq km (353,000 acres) of highly prospective land in Australia's Cooper-Eromanga basin. Avery and its partners have gained access to the ATPA 934P Application Area through the Gazettal competitive bidding process.

Interests in the block will be:

Avery Resources (Australia) Pty Ltd 50% (Operator)

SCGAU (Australia) Pty Limited 30%

* Mosaic Oil N.L. 20%

* Through its wholly owned subsidiary Continental Oil N.L.

In early 2007, the Queensland Department of Mines and Energy announced the release of 41 large areas in four sedimentary basins, one of the most significant land releases for several decades. Under state law, certain proportions of exploration areas must be relinquished at regular intervals. Avery concentrated its bidding on areas in the Cooper Basin because it is the most productive onshore basin in Australia and Avery already has a focus there. More than 11 trillion cubic feet (TCF) of gas and 320 million barrels of hydrocarbon liquids have been found in the Cooper Basin to date and an existing infrastructure network of pipelines and roads facilitates the commercialization of discovered reserves. The area that constitutes the ATPA 934P block was relinquished in late 2006.

The ATPA 934P block consists of one large continuous area located in the central part of the Cooper Basin. It is considered to be highly prospective and holds considerable potential for commercial oil and gas discoveries, being underlain by Permian sediments that have generated significant amounts of oil and gas in this area, and surrounded by mainly Permian and some Triassic gas fields. As well, within four kilometers of the block boundary there have been two significant oil field discoveries in the Jurassic and Lower Cretaceous that attest to the oil potential of the block. The block is under-explored, with no wells drilled and sparse seismic coverage despite the large number of adjacent fields. Several gas pipelines traverse the block.

In addition to this new block, Avery has established projects with five operators in Australia's onshore Cooper Basin, totaling 829,221 net acres, and a 10% working interest in the Katandra Prospect in the Timor Sea, offshore Australia. This new project represents an active expansion of Avery's interests in Australia's established petroleum provinces.