Oilexco Awarded Multiple New Licenses in UK North Sea

Oilexco Awarded Multiple New Licenses in UK North Sea


07:19 EST Thursday, November 13, 2008

CALGARY, ALBERTA--(Marketwire - Nov. 13, 2008) - Oilexco Incorporated ("Oilexco" or "the Company") (TSX:OIL)(LSE:OIL) is pleased to announce that it has been awarded 8 new licenses in the 25th UK Offshore Licensing Round by the Department of Energy and Climate Change. Five of the blocks were awarded to Oilexco 100%, and for the remaining three blocks the Company was awarded 50% interests.

Arthur Millholland, President and CEO commented, "This particular licensing round was considered by many in the industry to have the most desirable properties available in the last number of years. We are extremely pleased that we were able to obtain so many of the Licences we bid on, and our reputation as being the most active driller in the UK since 2004 no doubt assisted our efforts."

The blocks awarded to Oilexco have a number of qualities consistent with the Company's overall strategy including ones containing previous oil discoveries, close proximity to existing Company properties (Bugle and Kildare for example), and availability of 3D seismic. The specific blocks are listed in the table below:


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Block Equity Interest
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14/30b 50%
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15/23e 50%
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29/1c 50%
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15/26e 100%
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15/30b 100%
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21/24b 100%
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23/26c 100%
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29/7b 100%
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About the Company

Oilexco is an oil and gas exploration and production company active in the United Kingdom. Oilexco's producing properties, exploration and development activities are located in the UK Central North Sea, specifically in the Outer Moray Firth and Central Graben areas. Oilexco operates in the United Kingdom through its wholly owned subsidiary, Oilexco North Sea, a company registered under the laws of England and Wales. Oilexco shares are listed for trading on the London Stock Exchange (LSE) and the Toronto Stock Exchange (TSX) under the symbol "OIL".



Oilexco Provides Financing Update


15:05 EST Wednesday, November 12, 2008

CALGARY, ALBERTA--(Marketwire - Nov. 12, 2008) - Oilexco Incorporated ("Oilexco" or "the Company") (TSX:OIL) (LSE:OIL) is pleased to advise that Oilexco North Sea Limited has been able to negotiate an extension of Pounds Sterling 70 million of its Pounds Sterling 100 million Pre-Development Facility from the current repayment date of January 31, 2009 to November 30, 2009. This facility, provided by The Royal Bank of Scotland, is subject to certain conditions, including the repayment of at least the balance of Pounds Sterling 30 million of the facility on or before January 31, 2009.

Arthur Millholland, President and CEO stated, "We are pleased to be able to announce this extension with the Royal Bank of Scotland as we continue our financing activity in this very difficult market, demonstrating their continued support for the Company. Oilexco will provide a further update on good progress being made on other fronts in due course, and we continue to drive forward our operational programme alongside this process."

About the Company

Oilexco is an oil and gas exploration and production company active in the United Kingdom. Oilexco's producing properties, exploration and development activities are located in the UK Central North Sea, specifically in the Outer Moray Firth and Central Graben areas. Oilexco operates in the United Kingdom through its wholly owned subsidiary, Oilexco North Sea, a company registered under the laws of England and Wales. Oilexco shares are listed for trading on the London Stock Exchange (LSE) and the Toronto Stock Exchange (TSX) under the symbol "OIL".


Plus


NP says Oilexco able to finance production internally

2008-11-06 08:27 ET - In the News

The National Post reports in its Wednesday, Nov. 5, edition that Marquest Asset Management founding partners Gerry Brockelsby and Andrew Cook see opportunity in Oilexco. The Post's Sonita Horvitch writes in the Buy & Sell column that Oilexco stock finished Tuesday on the TSX Venture Exchange up 46 cents at $5.66.

The stock has a one-year range of $3.25 to $19.50. This Calgary-based company explores for and produces oil and gas primarily in the North Sea of the United Kingdom. This company, says Mr. Brockelsby, is able to finance its existing production internally, but will need external financing to grow its production levels. Investor concerns about the financing risk attached to its production growth have taken the stock down sharply, he says, and have not taken into account the fact that Oilexco is able to fully finance its existing production internally.

The result, he says, is that the stock now trades at 2.5 times cash flow per share estimates for 2009 based on an oil price of $65 (U.S.) per barrel. Mr. Brockelsby said Oilexco was an excellent growth stock in the Buy & Sell column on July 30. It was then trading at $15.67.

Cro a Stock That Will Run Up Fast When Markets Stabilize

Canadian Arrow Mines releases Atikokan drill results


08:30 EST Wednesday, November 12, 2008

SUDBURY, ON, Nov. 12 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the "Company"), reports nickel, copper, and platinum group metal (PGM) assay results from the recently completed drilling program on the Eva Lake and Kawene Projects within its Atikokan group of projects. Sixteen holes, (2,354 metres), were completed on historical showings and untested airborne anomalies to examine near surface targets.

Highlights of the drilling included a newly discovered zone of anomalous copper - PGM mineralization in holes KW-08-03, (12.2m of 0.63 gm/t PGM's), and KB-08-05, (11.7m of 0.97 gm/t PGM's. The holes are located on adjacent 50 metre spaced sections representing a new zone of near surface mineralization.


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Mr. Todd Keast, Vice President of Exploration comments, "These anomalous drill results confirm the potential for economic mineralization in the Eva Lake-Kawene vicinity. The Company has completed the Atikokan projects phase and will be reviewing its strategy for this portion of its regional exploration program. It is currently directing its next phase of exploration on the Turtlepond Lake group of projects."


Analytical Method

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Mineralized diamond drill hole intervals reported are down hole core lengths only. NQ diameter drill core samples are split in half; one half being retained in its original core box and the second half sent to an independent commercial laboratory for analysis. Samples are analyzed by ISO 17025 accredited Accurassay Laboratories in Thunder Bay, Ontario. Samples analyzed for base metals (nickel, copper, and cobalt), and precious metals, (platinum, palladium and gold), are digested using aqua regia with an atomic absorption finish.

The exploration program is being carried out under the direction of The Company's Vice President of Exploration, Mr. Todd Keast P. Geo., a qualified person as defined by National Instrument 43-101. The information in this release was prepared under the direction of Mr. Kim Tyler, P. Geo., President of the Company, a qualified person as defined by National Instrument 43-101.

Investors are invited to visit Canadian Arrow's IR hub at http://www.agoracom/IR/CanadianArrow where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternately, investors are able to e-mail all questions and correspondence to CRO@agoracom.com where they can also request addition to the investor e-mail list to receive future press releases and updates in real time.

From The Agoracom website"

I personally like the results from EL-08-06 28.7 meters grading 0.22 Nickel, 0.58 copper, 0.17 PT, 0.21 PD, 0.19 Gold and 0.57 Platinum.

For those that don't know copper mining is profitable at roughly .30 g/t occurance over an entire mine. These drill results are very positive based on the shallow depth of intrusion, hopefully targets are still open at depth, that information is months or years away. However, I am glad we are moving on to focus more on the Turtlepond lake occurance which I believe we will see more significant results for the wellbeing of the company from that potential deposit than in the Atikokan.

I think this company is one of the few leaders in this field. They will survive and we will prosper for it. I was only starting to get my feet wet during the mining and metal spike of 05 and 06. Had Canadian Arrow made there discoveries in that time I believe we would easily be a 3 figure stock. When precious and base metal market recover this stock should fuel its way to the top very quickly.

Also another couple of good reasons this company is a great by are there major holders.
Sprott Investments is a 2.8 million share holder (4% of the company)
Canada Pension plan owns roughly 3 million shares (4.1% of the company)
So when I put the information together I see one of the most successful Metals money managers in the world as a top holder and I also see our own Government in on this company. Also our front office are stars in the mining industry and are well credited in there field with decades of experience.

At just a couple hundred bucks a week for the next few months a normal person could become a millionaire off of a company like this. It is not getting hard to accumulate more than 500,000 shares. At todays price barely a 30k investment. I bet most of you buy a 30k car that will be nearly worthless in 4-6 years. So how come you wont drop 30k on an investment that could either be worthless or could make you a millionaire in the same amount of time? I know were my monies going... Source