PDP Insiders and More On Testing And Sale Of Argentina Assetts

Petrolifera provides update on La Pinta testing program12:53 EDT Tuesday, June 16, 2009CALGARY, June 16 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX) announces today that to date it has been unable to test prospective zones in the La Pinta well on its Sierra Nevada License in Colombia, due to both the late arrival of certain equipment and certain mechanical failures encountered while running the test assembly. These issues have now largely been overcome and it is now anticipated testing will commence in the next several days and continue for an indeterminate period until completed.

Events to date in no way reflect on the possible outcome of the testing program as prospective zones have not yet been perforated.

We also wish to reaffirm that the deadline for submission of bids for the company's Argentinean operations was, as previously announced, extended until July 10, 2009.

Petrolifera is a Calgary-based crude oil and natural gas exploration, development and production company active in Argentina, Peru and Colombia.FORWARD LOOKING INFORMATION:This press release contains forward-looking

F.J, Dyment Sells 400k shares from grant of options through Salman

And the good news is thats all been flushed through the market by Salman in the last 5 days

Boone was also a seller of 31,000k shares approx.

Salman Has Been a Seller Since June 10 2009

400,000 shares unloaded

this caused WZR To Fall

Weisel Is Making The Market again Today

Markets Pulling Back - Seasonally

WZR Large Cross

These two oil plays are getting hit, but both have very promising pending news

Are You Invested In Oil? Its the only market thats moving!

Action Economics morning alert7:38 June 17, 2009, EDT.(Canadian Press)
(Action Economics) - 05:53 EST Oil Action: Nymex crude futures have declined in the European morning session, erasing most gains recorded in the Asian session, ahead of today's EIA crude stocks report. A Bloomberg survey predicts that the U.S. Energy Department will report a drop in crude stockpiles of EUR 2 m barrels last week.

Yesterday the American Petroleum Institute reported U.S. crude inventories down by 1.3 mln barrels to 356.6 mln barrels last week. As of 9:34GMT the July Nymex future was down 34 cents per barrel at USD70.13 per barrel, after trading in a range between USD 69.91 to USD71.28.

Gushers of oil fill China tanks

ZHOUSHAN, China–One reason for the rebound in world oil prices sits on China's eastern seaboard, where rows of immense, squat oil tanks on an island south of Shanghai, have been filled to guard energy security.

Patrolled by military personnel, these tanks in Zhoushan are one of four locations where China keeps its national strategic reserves.

Since crude oil and other commodity prices plunged last year – oil tumbled from $147 (U.S.) a barrel last July to nearly $33 in December – China has rushed to build up stockpiles at bargain prices, economists say. That motive, more than a revival in industrial demand, has driven its recent import boom of oil, copper and other metals.

The United States has done similar deals to buy crude for its far larger Strategic Petroleum Reserve. Associated Press