Petrosearch Energy Company News

Petrosearch has mutually agreed with Mr. Wayne Beninger, its Chief Operating Officer, to terminate Mr. Beninger’s employment agreement as of April 15, 2009.

Petrosearch has entered into a definitive agreement to combine with publicly traded Double Eagle Petroleum Co. of Denver, Colorado.

Petrosearch reported that its electric and water services have been restored following outages caused by the hurricane, and the Company's Houston office is now working at full capacity.

Petrosearch Energy Corp has announced that its subsidiary, Barnett Petrosearch LLC, has agreed to sell its 5.54455% limited partnership interest in DDJET to Cinco for $36 million.

Petrosearch Energy Corporation said Friday that it has exercised its option to acquire a 100% working interest (68% after payout working interest) from Rock Energy Partners Operating, L.P. in a lease and existing well in Colorado County, Texas.

Petrosearch Energy has made the required payment for the Company's working interest in the Barnett Shale project and has received its assignment of ownership interest in the current lease acreage and related wells for the project.

Petrosearch Energy has signed a Commitment Letter for a $5 million debt facility with Macquarie Bank Limited of Sydney, Australia. The funds will be used to finance the company's Barnett Shale project in Texas.

Petrosearch Energy Corp. on Monday issued an update on its project in the SW Garwood Field in Colorado County, Texas.

Petrosearch has been given the okay by ExxonMobil to participate in a Barnett Shale exploration project with Harding.

Petrosearch Energy has entered a Program Agreement with Harding Company in a 1.6 million acre, five county area of mutual interest in the Barnett Shale.

Petrosearch Energy has entered an agreement to purchase a 100% working interest in 1780 acres of leases in the Quinduno Field located in Roberts County, Texas in the Anadarko Basin from Quinduno Energy.

PetroSearch Energy is completing the Harper Z-1 oil well in the Rodney Island Field in Tensas Parish, Louisiana. After casing was set, PetroSearch was nominated as operator to complete the well and direct further development of the field.

Petrosearch Energy has renewed and extended its revolving credit facility with Fortuna Asset Management, LLC to support upcoming and current drilling projects.