NEWS
Loon Energy Company News
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Loon Spuds Second Well on Buganviles Block
Loon Energy has spud of the Tuqueque-1X well which has a planned total depth of 7,600 feet and is targeting the Tetuan and Caballos formations of Cretaceous age.
7:00 PM EST | November 07, 2010
Loon, Petro Vista Terminate LOI
Loon and Petro Vista have been unable to conclude an agreement on their proposed business combination and have terminated the Letter of Intent between them.
8:00 PM EST | April 06, 2009
Loon Announces Business Reorganization
Loon Energy has approved a strategic plan to reorganize the business of Loon and enhance overall shareholder value.
7:00 PM EST | November 04, 2008
Loon Commences 3D Seismic Onshore Brunei
Loon announced that the acquisition of 3D seismic data onshore Brunei has commenced, with field acquisition operations expected to be completed by the end of the year.
8:00 PM EST | October 01, 2008
Loon Spuds Santana-1 to Evaluate Honda, Barzalosa
Loon Energy Inc. announces that the Santana-1 well commenced drilling on July 16, 2008. The well will evaluate possible gas sands within the Honda and Barzalosa Formations as well as deeper potential within the Lower Cretaceous Caballos Formation.
8:00 PM EST | July 17, 2008
Loon Announced Positive Results for Delta-1 Well Tests
Loon Energy Inc. announced that the Delta-1 sidetrack has been cased and the initial indications are that the well is capable of oil production.
8:00 PM EST | June 15, 2008
Loon et al Case Colombia Well, Testing to Follow
Loon Energy Inc. reported that the Delta-1 well in Colombia has reached total depth of 8,183 feet (2,494 metres) and preparations are underway to log the well.
7:00 PM EST | February 13, 2008
Loon Awards Contract for Brunei 3D Seismic
Loon Energy Inc. reported that its wholly-owned subsidiary Loon Brunei Limited and Nations Petroleum Brunei Limited have awarded the contract for the acquisition of a planned 350 square kilometre 3D seismic survey on Block L in Brunei Darusallam.
7:00 PM EST | February 10, 2008
Loon Energy Abandons Kristie #1 in Colombia
Loon says that the Kristie #1 exploratory well in Colombia has been drilled to a total depth of 2,252 meters and abandoned without testing after logging.
7:00 PM EST | December 06, 2007
Loon's Application for Syrian Block Ratified
Loon Energy says EDP Contract for Block 9 was accepted and signed by the President of Syria.
7:00 PM EST | December 03, 2007
Loon Energy Settles Brunei Block L Disputes
Loon has entered into a settlement agreement which resolves all outstanding legal issues with Integra Mining (B) Sendirian Berhad and Bumico Sendirian Berhad over Block L in Brunei.
7:00 PM EST | November 29, 2007
Loon Says Drilling Commenced on Kristie #1 in Columbia
Loon Energy spuds the Kristie #1 well in Colombia.
7:00 PM EST | November 04, 2007
CEPSA Farms into Loon's Maranon Basin, Block 127 in Peru
CEPSA Peru has agreed to acquire an 80% working interest in Block 127, in the Maranon Basin area of northeast Peru through a farm-in agreement with Loon Peru.
8:00 PM EST | October 28, 2007
Loon Makes Two Appointments to its Board
Loon Energy announces two appointments to its board of directors, both of which bring substantial financial and scientific expertise to the board, and the appointment of a Vice President Operations & Engineering.
8:00 PM EST | October 25, 2007
Loon Issues Options
Loon Energy granted options to purchase 100,000 common shares to one insider.
8:00 PM EST | October 16, 2007
Loon Abandons Tunisian Well
Loon Energy and its partners have decided to plug and abandon the Bhayra Rigo # 1 well after drilling to a total depth at 1,739 meters.
8:00 PM EST | October 07, 2007
Loon Signs Up for Block 9 in Syria
Loon has signed a Contract for the Exploration, Development and Production of Petroleum with the Government of the Syrian Arab Republic for Block 9, which encompasses an area of more than 10,000 square kilometers in northwest Syria.
8:00 PM EST | September 19, 2007
Peru Gives Loon Exploration Rights in the Maranon Basin Area
Loon signed the Exploration License Contract with PERUPETRO S.A. granting Loon Peru the right to explore for and produce hydrocarbons from Block 127 in the Maranon Basin area of northeast Peru.
8:00 PM EST | August 21, 2007
Loon Participates in Tunisian Well
Loon Energy plans to participate in the drilling of the Bhayra Rigo 1 well on the Jorf Exploration Block in south-central Tunisia.
8:00 PM EST | August 07, 2007
Loon Energy Issues Update on Brunei Block L Judgment
Loon Energy has released information on the status of its interest in Brunei.
8:00 PM EST | August 06, 2007
Loon Energy Closes Private Placement
Loon Energy has closed a private placement of 25 million common shares at an issue price of $1.00 per common share for gross proceeds of $25 million.
8:00 PM EST | July 15, 2007
President Greenlights Perupetro, Loon Block 127 Contract
Peru's President Alan Garcia has authorized state hydrocarbons promotion agency Perupetro and Canadian oil and gas company Loon Energy to sign the E&P contract for block 127, Peru's official gazette reported.
8:00 PM EST | July 15, 2007
Loon Announces $25M Private Placement
Loon Energy Inc. has entered into a private placement subscription agreement with Kulczyk Group International S.a,r,l. ("Kulczyk Group") to issue 25 million common shares at an issue price of $1.00 per common share.
8:00 PM EST | May 31, 2007
Kulczyk Group Acquires 17% of Loon
Luxembourg-based Kulczyk Group International S.a.r.l. has acquired approximately 17% of the issued and outstanding common shares (12,279,763 total) of Loon Energy Inc. in a private transaction.
8:00 PM EST | May 13, 2007
Loon Signs Option Agreement for Brunei Block L
Loon Brunei has granted an option to Nations to acquire a 50% interest in the Production Sharing Agreement signed by Loon Brunei, and QAF Brunei Sdn for Block L.
8:00 PM EST | April 24, 2007
Loon Energy: Status of Brunei Block L
Loon Energy provides information on the status of its interest in Brunei.
8:00 PM EST | April 24, 2007
Loon Inks PSA for Block L in Brunei
Loon Energy reports that a consortium led by Loon and QAF Brunei Sdn Bhd, has formally signed the Production Sharing Agreement with PetroleumBRUNEI to explore for and produce petroleum from Block L in Brunei Darussalam.
8:00 PM EST | August 28, 2006
Syria Awards 3,900 Square Mile Block to Loon
Loon Energy says that the Ministry of Petroleum and Mineral Resources of the Syrian Arab Republic has awarded Loon the right to negotiate a production sharing contract with respect to Block 9.
8:00 PM EST | June 01, 2006
Loon Energy to Enter Negotiations for Peruvian Exploration Block
During April, Loon Energy bid to acquire the right to explore Block B-04 in Peru. Loon has now been granted the exclusive right to negotiate an Exploration License Contract for Block B-04 in north central Peru.
8:00 PM EST | May 07, 2006
Proprietary Industries Acquires Shares of Frontier Holdings
Proprietary has acquired all of the issued and outstanding shares of Frontier Holdings Limited from Loon and from Nemmoco Petroleum Limited.
8:00 PM EST | April 17, 2006
Loon Awarded Contract Area in Brunei
A consortium led by Loon Energy and QAF Brunei Sdn Bhd, has been awarded Block L which covers 2,253 square kilometers by Brunei National Petroleum Company Sendirian Berhad.
7:00 PM EST | February 07, 2006
Loon Energy Abandons Aleli-D1 Well in Colombia
Loon Energy reports that the Aleli-D1 well in Colombia will be plugged and abandoned.
7:00 PM EST | December 01, 2005
Loon Energy Evaluating Abanico Block
Loon Energy is in the process of drilling the Aleli-D1 well to evaluate one of several large targets defined on the Abanico Block, located within the Magdalena Valley in Colombia.
7:00 PM EST | November 15, 2005
Loon Spuds Aleli Deep Test in Colombia
Loon Energy has spud of the Aleli-D1 well. This is the second well to be drilled by Loon in Colombia as part of an on-going exploration program on the Abanico Block, located in the Upper Magdalena Valley in central Colombia.
8:00 PM EST | September 20, 2005
Loon Drills Gas Well in Colombia
Loon Energy says that it has drilled, logged and cased
the Ventilador-2 well. Ventilador-2, the first well drilled
by Loon in Colombia, is part of an on-going drilling program on
the Abanico Block, located in the Upper Magdalena Valley in
central Colombia.
8:00 PM EST | September 18, 2005
Kappa Inks JV with Loon Energy on Colombian Contract
Kappa Resources Colombia Ltd. has entered into a farmout agreement with Loon Energy. The agreement provides Loon the opportunity to
participate in, and earn a significant interest in Kappa's 200,000 acre Abanico Association Contract located in the prolific Upper Magdalena Valley of Colombia.
8:00 PM EST | April 10, 2005
Loon Energy Enters Private Placement Deal
Loon Energy has entered into a bought-deal private placement financing agreement with a syndicate of underwriters led by Canaccord Capital Corporation and including Orion Securities Inc., Dundee Securities Corporation and Brant Securities Limited.
7:00 PM EST | March 15, 2005
Loon Negotiates Deal in Colombia
Loon Energy has entered into an agreement with Kappa Energy Colombia Limited S.A. to explore for and produce hydrocarbons in the Republic of Colombia.
7:00 PM EST | February 17, 2005
Loon to Begin Production Testing D-14 Well in Slovenia
Loon Energy reports that the Dolina-14 (D-14) appraisal well in northeastern Slovenia has been successfully fracture stimulated. The well has been completed with a temporary connection to the local distribution network and an extended production test will
commence shortly.
7:00 PM EST | February 13, 2005
Loon Energy Begins Fracture Stimulation Program in Slovenia
Loon Energy has started its fracture stimulation program on the D-14 appraisal well in eastern Slovenia.
7:00 PM EST | December 07, 2004
Loon Starts Natural Gas Production in Slovenia
Loon Energy reports that the Pt-123 well, which was drilled during July and August of this year, commenced commercial production on November 9, 2004.
7:00 PM EST | November 14, 2004
Loon Makes Gas Discovery in Slovenia
Loon Energy has made a gas discovery with its Pt-123 well in Sovenia.
8:00 PM EST | October 05, 2004
Loon Energy On Track with Slovenia Drilling Operations
Loon Energy reports that site preparations for the drilling of the D-14 appraisal well are complete and the well commenced drilling on Sunday, August 29, 2004.
8:00 PM EST | August 30, 2004
Loon Closes Private Placement
Loon Energy Inc. has closed a private placement of 10,000,000 common shares at $0.18 per common share for gross proceeds of $1,800,000.
8:00 PM EST | May 09, 2004
Loon Granted Well License
Loon Energy has received a permit to drill a new well on its lands in the Petisovsci-Dolina area of eastern Slovenia.
8:00 PM EST | April 25, 2004
Loon Energy Grants Options
Loon Energy Inchas granted options to purchase 800,000 common shares of the Company pursuant to the Stock Option Plan of the Company. The options were granted effective March 31, 2004 for a term of 5 years and at an exercise price of $0.16.
8:00 PM EST | April 13, 2004
Loon Closes Slovenia Acquisition
Loon Energy has closed the acquisition of interests in the Petisovci-Dolina field area in eastern Slovenia from Auldstone Investments Inc.
8:00 PM EST | April 07, 2004
Loon Energy Enters Agreement on Deep Slovenian Gas
Loon Energy has, together with its partners, Nemmoco and Auldstone, entered into an agreement with WPN Resources Limited with respect to the deeper gas horizons underlying the Loon et al joint venture area in eastern Slovenia.
7:00 PM EST | March 18, 2004