Oil surged as thousands continued to riot against the government in Egypt, and unrest threatened to spread across the Middle East. Oil prices rose as high as $89.73 a barrel at one point.
In the United States, tar sands resources are primarily concentrated in Eastern Utah, mostly on public lands. The in-place tar sands oil resources in Utah are estimated at 12 to 19 billion barrels.
Proper Power and Energy, Inc. (PPWE.OB) has reported the next stage of its Western U.S. operations. The Company met with the executives of Thrust Resources Inc. and EQ Resources Inc. in Dallas, Texas on January 20, 2011. The meeting focused on a joint venture for the Central Utah Prospect between the Companies. This was the initial meeting between Clint Brower, CEO and Chairman of EQ Resources, and Andrew Kacic, the newly named President of Proper Power & Energy Inc.
* To view the most geologically prospective oil shale resources within the Green River Formation Basins in Colorado, Utah, and Wyoming as of December of 2007 click link here ( http://ostseis.anl.gov/guide/maps/index.cfm )
* To view special tar sand areas in Utah as of December of 2007 click link here ( http://ostseis.anl.gov/documents/maps/1.2_2_STSAs_UT_062.pdf )
Utah ranked 13th in the United States in crude oil production and 9th in gross natural gas production (not including Federal Offshore areas) during 2008.
The oil prices traded as high as $89.73 and as low as $85.11 during todays session with a last trade at $89.42 UP 3.78 (4.41%) at closing Bell.
Proper Power & Energy is an independent exploration and production company. The Company’s operations are in Kentucky, which provides for low risk developmental drilling and production, and Utah, which PPWE controls over 11,000 acres for its exploratory prospect. Renowned geophysicist and consultant to Proper Power, Robert Dunbar, believes the Utah prospect could hold up to one billion barrels of recoverable oil.
For more information about this company please visit http://properpower.com/
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE:JPM), reported $25 million in grants to Community Development Financial Institutions (CDFIs) serving hard-to-reach communities. The newest initiative in today’s challenging credit environment is part of Chase’s $100 million commitment to strengthen CDFIs, which are financial institutions that lend to low-income persons and businesses in struggling communities for community development purposes.
“I am proud to further increase our support for small businesses with $25 million in grants to CDFIs,” said Jamie Dimon, Chairman & CEO of JPM. “Small businesses are critical to our economy and they need permanent capital to strengthen their balance sheets in order to grow. Our $25 million funding initiative, when leveraged with private capital and government programs, will increase lending to small businesses by $125 to $250 million.” Grants range from $2 million to $5 million for institutions across the country.
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co., a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries.
For more information about this company please visit http://www.jpmorganchase.com
The violent clashes in Egypt, motiovated the gold market by mid-session today. “Gold and many other commodities are feeling some impact right now from nervous investors,” said Kevin Kerr, editor of Kerr Commodities Watch. Overall gold will continue to find support from investors who have sought the safe haven of precious metals, with “the U.S. dollar is still crippled and the euro is not that much better,” said Kerr.
Orofino Gold Corp. (ORFG.PK) is an International gold company focused on the acquisition, exploration and development of gold properties in Mexico and Colombia. The company has reviewed several bulk minable properties and has signed an option to acquire properties in the Sur de Bolivar Department of Colombia South America.
ORFG’s previous projects are La Azul, San Carlos and Culo Alzado. La Azul is one producing artesanal mine in the Senderos de Oro area controlled by Orofino, it is a mixed sequence of predominantly volcanic rocks with the vien systems comprised of high grade chalcopyrite, galena and sphalerite with pyrite in quartz viens.
Gold is found in ores made up of rock with very small or microscopic particles of gold. This gold ore is often found together with quartz or sulfide minerals such as Fool’s Gold, which is a pyrite. These are called lode deposits. Native gold is also found in the form of free flakes, grains or larger nuggets that have been eroded from rocks and end up in alluvial deposits (called placer deposits). Such free gold is always richer at the surface of gold-bearing veins owing to the oxidation of accompanying minerals followed by weathering, and washing of the dust into streams and rivers, where it collects and can be welded by water action to form nuggets.
Senior officials have offered full support of the government departments that facilitate and regulate exploration and mining activities.
The gold prices traded as high as $1,346.60 and as low as $1,307.70 during todays session with a last trade at $1,335.90 UP 17.30 (1.31%) at closing Bell.
For more information about this company please visit http://www.orofinogold.com
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