Picked up some Cosigo in the .20s. Should pop when they get their permits...

the horseshoe

area is mentioned on Romarco also, right?

Good price to accumulate shares because you know this is going to go up once the story gets out.

Its been trading down from the RTO placement price. Unfortunetly they are not as far along in thier program as I was hopeing.

Cosigo Resources completes 5,000 MMI samples at Machado

2011-05-03 09:13 ET - News Release

Mr. Dennis Milburn reports

COSIGO RESOURCES LTD. - MACHADO EXPLORATION UPDATE

Cosigo Resources Ltd. has provided an update on the company's activities in the Taraira gold belt of southeastern Colombia.

Highlights:

Cosigo's Machado project is known to have hosted more than 100 historic artisanal gold mining operations.
MMI (mobile metal ion) sampling has identified a large, approximately 5,000-metre-long zone of anomalous gold at the centre of the Machado project.
Bulk samples have confirmed the presence of high-grade gold mineralization with grades of up to 37.6 grams per tonne (g/t) gold.

"We are very pleased to have recently completed our listing on the TSX Venture Exchange and are looking forward to an exciting year for Cosigo and our shareholders," says Dennis Milburn, president and chief executive officer of Cosigo. "We believe that our properties in the Taraira gold belt have tremendous gold potential, and we are eager to carry out the first modern exploration program in the area."

Machado project

Cosigo's 100-per-cent-owned flagship project, the Machado project, is located in the Taraira gold belt in the Vaupes province of southeastern Colombia. The Taraira gold belt consists of a series of sandstone ridges straddling the Colombian-Brazilian border in an area surrounding the small town of Taraira in Colombia. The ridges, many with a strike length of tens of kilometres, generally stand about 100 metres above the surrounding lowlands. Gold mineralization is known to occur in several of these ridges, and evidence of artisanal gold recovery operations is widespread in the area.

The Machado project is located on Machado ridge six kilometres west of the town of Taraira. A gold rush involving up to 10,000 artisanal miners in the late 1980s prompted a geological study of Machado ridge by Mineralco SA, the former Mining Department of Colombia. Mineralco SA reported more than 100 active artisanal mining operations in the area, and rock and sediment sampling reportedly showed gold mineralization to be widespread along Machado ridge. Following the Mineralco study, a 9,973-hectare area was reserved by the Colombian government, and in 2007 this area was put out for bid by the government. Bids for the area were submitted by several gold explorers, including major gold companies. Cosigo's bid was successful leading to the company's acquisition of the Machado project.

Exploration work carried out by Cosigo to date has confirmed widespread gold mineralization on the Machado project. This work has included preliminary geological mapping, property-scale MMI sampling as well as grab, channel and limited bulk sampling.

MMI sampling

More than 5,000 MMI samples have been completed on a 100-metre-by-100-metre grid over the southernmost three quarters of the Machado project. Results highlight a large zone of anomalous gold, centred over an oxidized sandstone horizon at the centre of the Machado project and extending in a north-northwest direction along strike for approximately five kilometres. Several other areas with anomalous gold values have been identified on the property. These anomalies often coincide with the location of known historic gold recovery operations. Approximately 4,500 additional MMI samples have been collected on the Machado project. These samples have been sent to SGS Canada Inc. in Toronto, Ont., where they will be processed.

Bulk sampling

Bulk samples have been collected from two historic adits located in an area close to the centre of the Machado project. Three barrels of rock were collected from the Chile Bajo adit, and 18 barrels of samples were collected from the Agamenon adit. The bulk samples were obtained by blasting by local artisanal miners. The blasting was observed by Cosigo personnel on-site, who immediately after the blasting acquired the material liberated by the blast from the artisanal miners.

In the Agamenon adit, a panel measuring 190 centimetres by 119 centimetres by 80 centimetres was sampled. The sampled rock included material from narrow quartz veins while consisting mostly of silicified and haematized metasandstone. The Agamenon adit roughly follows 40-degree-southwest-dipping metasedimentary strata to a depth of about 25 metres, and a sample was obtained from approximately 20 metres below surface.

The second, three-barrel sample was obtained from the Chile Bajo adit, which is located 0.2 kilometre southeast of the Agamenon adit. The Chile Bajo adit follows 45-degree-southwest-dipping strata to a depth of approximately 30 metres. The height of the Chile Bajo adit is two metres, and it is up to eight metres wide. The sample represented a panel of approximately 200 centimetres by 100 centimetres by 30 centimetres of silicified, iron-oxide-stained metasandstone with an approximately 15-centimetre-wide quartz vein crosscutting the metasedimentary strata. Although narrow quartz veins make up only a small fraction of the total weight of the samples, their presence may have contributed significantly to the gold grade.

The three-barrel sample from the Chile Bajo adit, totalling 840 kilograms, as well as 617 kilograms of sample from two randomly selected barrels from the Agamenon adit were processed by gravity concentration at Knelson Research and Technology Centre of Langley, B.C. The entire samples were crushed to approximately minus one-quarter inch. The crushed material was then blended, and 10-to-12-kilogram subsamples from each bulk sample were obtained using Knelson's laboratory rotary splitter. Each subsample was pulped with water to approximately 60-per-cent solids by weight prior to being loaded into a laboratory rod mill and milled for 12 minutes to achieve an approximate feed P80 of 100 microns. The subsamples were then separately processed using Knelson's KC-MD3 concentrator. Concentrates as well as subsamples of the tailings stream were subsequently assayed for gold by fire assay. The metallurgical reports include a gravity recovery value as well as a calculated subsample gold head grade. Results are summarized in the associated table.


SAMPLING RESULTS

Subsample No. Calculated gold grade (g/t) Gravity recovery (%)

(Agamenon adit) KRTS 20564 A 37.6 91.5
(Agamenon adit) KRTS 20564 B 27.2 84.4
(Chile Bajo adit) KRTS 20542 A 7.11 70.7
(Chile Bajo adit) KRTS 20542 B 6.71 67.9
(Chile Bajo adit) KRTS 20542 C 6.47 69.8
(Chile Bajo adit) KRTS 20542 D 6.59 69.4



Processing of the bulk samples has provided Cosigo with concrete evidence of high-grade gold mineralization at the centre of the Machado project. The presence of free gold in the bulk samples is evident with 67.9 per cent to 91.5 per cent of the gold in the samples having been recovered by gravity methods.

Planning for a first drill program at Machado is under way, and two specialized reverse circulation (RC) drill rigs have been mobilized to Colombia. The RC drills are considered ideal for the Machado project as their large sampling volume will be very beneficial in an environment with a presence of free gold. The RC drills are quick, mobile and highly cost-effective with a very small footprint ensuring minimal environmental impact. Permitting to allow for the start of drilling is nearing completion with the finalization of the required native prior consults expected shortly.
A Cosigo corporate presentation can be found at the company's website, and a National Instrument 43-101 technical report for the Machado project is available on SEDAR. Dr. Joseph Montgomery, PEng, executive vice-president of Cosigo, is a qualified person under NI 43-101 and is responsible for the design and execution of the programs carried out by Cosigo in the Taraira gold belt. Dr. Montgomery has reviewed and approved the technical content of this news release.

Is there a date for when this will trade again?

Horseshoe Gold shareholders approve Cosigo RTO

2011-04-06 12:54 ET - News Release

Mr. James E. McInnes reports

HORSESHOE SHAREHOLDERS APPROVE REVERSE TAKE-OVER TRANSACTION WITH COSIGO RESOURCES

Horseshoe Gold Mining Inc. has provided the results of its special meeting of shareholders, which was held on March 30, 2011, in Vancouver, B.C. At the meeting, the shareholders of the company approved all of the resolutions put before them, including: (i) the reverse takeover of Horseshoe by Cosigo Resources Inc. (the RTO), (ii) subject to the completion of the RTO, the increase in the number of directors of the company from three to seven and the election of Dennis Milburn, Joseph Montgomery, Andres Rendle, James McInnes, Patrick Mooney and Edward Robinson to the board of directors; (iii) the consolidation of the company's common shares on the basis of three old shares for one new share; (iv) certain amendments to the company's stock option plan; (v) subject to the completion of the RTO, the extension of previously granted stock options to directors, officers, employees and consultants of the company from five years to 10 years from their respective grant dates; and (vi) the adoption of the employee purchase plan, each as described in Horseshoe's information circular dated Feb. 14, 2011, mailed to Horseshoe shareholders and filed on SEDAR.

Further to news in Stockwatch on Nov. 1, 2010, the company is also pleased to announce that the TSX Venture Exchange has conditionally accepted the RTO, the consolidation, the company's brokered private placement of up to 10 million units at a price of 50 cents per unit for gross proceeds of up to $5-million and the name change of the company from Horseshoe Gold Mining Inc. to Cosigo Resources Ltd.

In compliance with exchange policy, the exercise price of the 5.2 million options granted to directors and officers of the company and announced on Nov. 15, 2010, will be increased to 50 cents, on a postconsolidation basis, on completion of the RTO.

The company expects to complete the RTO, the consolidation and the financing shortly, once it has satisfied certain closing conditions and subsequently obtained the exchange's final approval to the RTO.

About Cosigo Resources Inc.

Cosigo is a private company incorporated in British Columbia on March 30, 2005. Through its subsidiaries and company branches, Cosigo is engaged in the acquisition, exploration and, if warranted, development of gold properties in Colombia and Brazil. Cosigo's principal property is the Machado project, a gold exploration project on a 9,973.09-hectare mineral concession located in the Taraira gold belt in the province of Vaupes in southeastern Colombia.

Petro Vista Energy starts drilling Morichito-5B well

2011-03-21 09:39 ET - News Release

Mr. Keith Hill reports

PETRO VISTA COMMENCES DRILLING OF MORICHITO-5B EXPLORATION / APPRAISAL WELL AT MORICHITO, COLOMBIA

Petro Vista Energy Corp. has commenced drilling its Morichito-5B deeper pool exploration and appraisal well in the Llanos basin in Colombia. The well was spudded on March 18, 2011.

The Morichito-5B will be drilled from the same drilling pad as the 2010 field discovery well Morichito-5 (see news release in Stockwatch dated March 25, 2010) and will be drilled directionally to a bottom-hole location approximately 1,400 feet southeast of the earlier discovery. The proposed total depth for the well is 6,600 feet in the Cretaceous Ubaue formation and will fulfill the company's fifth-phase contract commitment with the Colombia National Hydrocarbon Agency (ANH).

The Morichito-5B will be a dual-purpose well with a primary objective to test the potential of deeper Mirador, Gacheta and Ubaque reservoirs that have seen recent significant discoveries in the Llanos basin. Additionally, the well is also expected to encounter the same reservoir intervals that had shows or tested oil in the Morichito-5 discovery well in an updip position approximately 10 to 15 feet high to the Morichito-5 discovery well. This should provide additional oil reserves from those zones and give additional structural advantage for deeper Mirador sands that had excellent shows but tested wet. The Morichito-5B well should take approximately 14 days to drill after which logs and sidewall cores will be acquired and a completion decision will be taken.

Additionally, the company will mobilize a workover rig before the end of the month to begin testing the Carbonera 5,900-foot sand in the Morichito-5 discovery well that tested 100 per cent oil at rates of up to 375 barrels of oil per day during short-term drill stem tests in April, 2010. Due to the approach of the rainy season and resulting flood waters at that time, it was not possible to determine a definitive flow rate for the well.

Depending on results of the new Morichito-5B well and the long-term test of the existing Morichito-5 well, the company plans to install a production facility to put the two wells on immediate production.

Petro Vista president and chief executive officer Steve Benedetti comments: "With the success of Tartaruga well in Brazil and the impending production from the Morichito field in Colombia, Petro Vista will enter a new era of growth funded by internal cash flow. The company's main focus will be to grow production in these two core areas while continuing to pursue upside exploration projects on its existing licences."

yw and that post marked the 52 wk high btw

Its been over 4 months, practically 5 by the time they have the meeting. Thats a lot of time to conduct sampling and define drill targets etc. In fact Cosigo may have already been drilling and have results. Anyway there should be lots of news flow once they put the RTO behind them. Pretty impressive bulk sampling from last August...

Cosigo Resources samples 37.6 g/t Au at Taraira

2010-08-18 12:56 ET - News Release

Mr. James McInnes reports

COLUMBIAN GOLD PROSPECT

Cosigo Resources Inc. has delivered a progress report on the Columbian gold prospect.

Taraira

A bulk sample comprising 18 to 45 gallon drums of rock was gathered from a blast in the underground workings on the central Machado area. The blast was drilled off using five-foot drill steel. Prior to the blast, the face was cleaned and all rock debris removed from the tunnel floor. Two channel samples were then chipped vertically and perpendicular to the strike of the strata. These samples were assayed in Vancouver. Assay results were 0.73 part per million gold for the No. 1 channel sample and 0.98 ppm gold for the No. 2 channel sample, respectively. The entire volume of the blasted rock was placed in 18 barrels and shipped to Vancouver for processing and assaying. Two of these barrels were randomly selected by the transport company and delivered to the Knelson Rsearch & Technology Centre. The two barrels contained 617 kilograms of rock. Results for assay and gravity separation analysis are shown in the table.

Sample Kilograms Recovery (%) Gold (g/t)

A 10.159 91.5 37.6
B 10.152 84.4 27.2

The pan concentrates, the pan tails and the final tails were assayed. The calculated gold head grade for the A sample was 37.6 grams per tonne gold, while the calculated head grade for the B sample was 27.2 g/t gold. Additional work is planned to help understand the significance and benefits of the coarse gold and nugget effect on channel samples that have been gathered from this as well as other prospects in the region. Permits that allow drilling of the prospect are in process and should be available by October, 2010, at which time Cosigo plans to begin a major drilling program using two new drills that are on site in Columbia. Joseph H. Montgomery, PhD, PEng, executive vice-president of Cosigo and a qualified person under the meaning of National Instrument 43-101, reviewed the technical information in this new release.

I always thought they would do something in Mexico. They had some properties there back when I followed it.

I see they had a great run in 05-06, I think right at the moment are a shell. I wonder if Taylor knew this deal was coming?...

Taylor comments on Horseshoe Gold

2011-01-26 19:40 ET - In the News

Jay Taylor in the Jan. 17, 2011, edition of Gold, Energy & Tech Stocks comments on Horseshoe Gold Mining Inc., currently 19.5 cents. Mr. Taylor said buy on June 18, 2010, at 13 cents. An investment of $1,000 would now be worth $1,499. The TSX Venture Exchange halted trading in Horseshoe's shares in October, 2010, pending acceptance of documentation on a change of business or reverse takeover. Horseshoe is arranging a reverse takeover with Cosigo Resources Inc. It plans to consolidate its shares and change its name to Cosigo Resources Ltd. Mr. Taylor estimates that the new Cosigo will have 105 million outstanding shares, 40 per cent of which will be held by shareholders from the Horseshoe side. Cosigo owns the 9,973-hectare Machado property in the Taraira gold belt in Colombia. Mr. Taylor says this property can turn into a very exciting exploration play. He expects Horseshoe to resume trading this month, release "good exploration information" and then prove to shareholders that it is worth the wait. The newsletter writer reminds readers that illiquidity is not uncommon in the junior resource sector. This brief comment is a response to an inquiry from a subscriber of the newsletter.

Owned some of that at one time.

Great. Thanks for pointing that out.

living up to its name

Subject: HORSESHOE GOLD MINING INC
Dear Sirs: We advise of the following with respect to the upcoming Meeting of Security Holders for the subject Issuer:
Meeting Type :
Special Meeting
Record Date for Notice of Meeting :
14/02/2011
Record Date for Voting (if applicable) :
14/02/2011
Beneficial Ownership Determination Date :
14/02/2011
Meeting Date :
21/03/2011
Meeting Location (if available) :
Vancouver, BC
Voting Security Details:
Description
CUSIP Number
ISIN
COMMON SHARES
44075E107
CA44075E1079
Sincerely, Computershare Trust Company of Canada / Computershare Investor Services Inc. Agent for HORSESHOE GOLD MINING INC

One to watch for...



Horseshoe Gold arranges RTO with Cosigo

2010-11-01 14:59 ET - News Release

Mr. James McInnes reports

Horseshoe Gold Mining Inc. has entered into an arrangement agreement with Cosigo Resources Inc., providing for the acquisition by the company of all of the issued and outstanding shares and other securities of Cosigo. The agreement gives effect to the reverse takeover transaction announced by the company in Stockwatch on July 14, 2010.

In connection with the transaction, the company will effect a share consolidation and change its name to Cosigo Resources Ltd. The company will also undertake a concurrent private placement, each as more particularly described below.

Upon completion of the transaction, the company anticipates that it will continue to be classified as a mining issuer under the TSX Venture Exchange policies and will be engaged in the exploration of prospective gold properties in Colombia and Brazil. The company's principal property will be the Machado property, a gold exploration project on a 9,973.09-hectare mineral concession located in the Taralra gold belt in the province of Vaupes in southeastern Colombia.

Cosigo and the company are not non-arm's-length parties within the meaning of the policies of the TSX Venture Exchange.

Terms of the transaction

The transaction will be affected by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) among the company, Cosigo and the Cosigo securityholders.

Under the plan of arrangement, the company will acquire all of the issued and outstanding shares of Cosigo in exchange for such number of Horseshoe common shares that will result in former Cosigo shareholders holding, as a group, 60 per cent of the postconsolidation (but prefinancing) outstanding Horseshoe shares. The exact exchange ratio will be fixed and announced by the company and Cosigo on the record date for the transaction, based on the number of common shares of each of Cosigo and Horseshoe then outstanding. Outstanding common share purchase warrants and options of Cosigo will also be exchanged for warrants and options of the company in accordance with the same exchange ratio. The warrants and options to be issued by the company will contain substantially the same terms as the warrants and options of Cosigo being cancelled pursuant to the agreement, subject to adjustment of exercise price and the number of Horseshoe shares or other securities issuable on exercise thereof to give effect to the exchange ratio.

Horseshoe and Cosigo have agreed to use best efforts to complete the transaction on or before Jan. 31, 2011.

Each of Horseshoe and Cosigo have agreed that, until completion of the transaction or termination of the agreement, it will not solicit, initiate or encourage any sale of its securities to a third party.

Conditions of closing

Completion of the transaction will be subject to certain conditions, including:

* The company obtaining the consent of the exchange and the approval of its shareholders for the transaction, including the issuance of the transaction shares and the proposed consolidation;
* Cosigo obtaining the approval of its securityholders and the court in connection with the plan of arrangement;
* Cosigo shareholders shall not have exercised dissent rights in respect of the plan of arrangement in excess of 5 per cent of the issued and outstanding Cosigo shares;
* Cosigo and the company obtaining approval from their respective boards of directors;
* Neither Cosigo nor the company shall have suffered a material adverse change.

The company and Cosigo will be calling a special meeting of their respective shareholders to consider the transaction and related matters.

Concurrent financing

Horseshoe plans to complete a concurrent, non-brokered private placement of up to $5-million through the sale of up to 10 million units at a price of 50 cents per unit. It is proposed that each unit will comprise one Horseshoe common share and one-half of one Horseshoe common share purchase warrant, with each full Horseshoe warrant entitling the holders thereof to purchase a like number of Horseshoe shares for a period of three years at an exercise price or $1.00 per Horseshoe common share during the first year, an exercise price of $1.25 during the second year and an exercise price of $1.50 during the third year.

If on any 30 consecutive trading days the closing price of the Horseshoe shares (or the closing bid, if no sales were reported on a trading day) as quoted on the TSX Venture Exchange (or such other stock exchange, quotation system or market on which such shares are then listed) is greater than $1.25 during the first year-of the warrant term, is greater than $1.50 during the second year of the warrant or is greater than $1.75 during the third year of the warrant, then the company may accelerate the expiry date of the warrants to the 30th day after the date on which the company gives notice to the subscriber in accordance with the warrant of such acceleration. Any warrants not exercised on or before such 30th business day will expire and will no longer be exercisable to acquire shares.

The closing of the concurrent financing will be conditional upon the closing of the transaction. The net proceeds of the concurrent financing will be used to advance exploration of the Machado property and for general working capital purposes.

It is anticipated that a portion of the concurrent financing may be completed on a brokered basis. Terms, conditions and documentation for the concurrent financing may change subject to market conditions.

Changes of officers and directors

Under the terms of the agreement, the board of directors of the company at closing of the transaction will comprise seven directors, five appointed by Cosigo and two appointed by Horseshoe. A new management team will also be appointed on closing of the transaction. Upon such appointment, the company will issue a press release setting out the biographies of such directors and officers.

Description of the consolidation

Horseshoe will consolidate its outstanding shares on the basis of one new share for four old shares immediately prior to the completion of the transaction. Accordingly, Horseshoe shareholders will be asked, at the special meeting of Horseshoe shareholders called in connection with the transaction, to pass an ordinary resolution authorizing the consolidation. The company currently has 62,650,183 common shares outstanding an additional 33,889,620 common shares reserved for issuance pursuant to outstanding warrants and an additional 5.2 million common shares reserved for issuance pursuant to outstanding options. Postconsolidation (but prior to completion of the transaction and the concurrent financing) the company will have approximately 15,662,541 common shares issued and outstanding and 9,772,405 common shares reserved for issuance pursuant to outstanding warrants and options. Upon completion of the transaction and the proposed consolidation, but prior to the completion of the concurrent financing and assuming no additional securities of either Cosigo or the company are issued prior to closing, it is anticipated that the company will have approximately 41,422,929 common shares issued and outstanding, 20,808,856 warrants and 1.9 million stock options.

Name change

On completion of the transaction, the company intends to change its name to Cosigo Resources Ltd. or such other name as may be approved by its board of directors.

Resumption of trading

Trading in the company's shares will remain halted until the transaction is accepted by, or satisfactory documentation has been filed with, the exchange pursuant to Section 3.4 of exchange Policy 5.2.

SUNWARD RESOURCES STARTS TRADING TODAY SWD TSX-V

http://www.oroandes.com/

TAOL moving up, GXPI showing strength. Gold plays in Colombia.

McCain going next week to Colombia to boost Free Trade deal. Canadian Free Trade deal negiations just completed.

Colombia is gaining ground. As the dollar sinks, Colombia is increasingly the place to be in order to see good margins for growth. Esp in the gold and minerals.


Come Spend a Buck at the "Inflation Nation!" --> Click Here for the iBoard! #board-12732

Good work, still holding freebies for the .30s and up


T

Weeeeeeeeeeeeeeeee !!

I'm out at .25

KABOOOOMMMMM!!!!!!!!!!

AVH

AU reported some really good news regarding its Colombian property yesterday. This should boost further mining investment in juniors in Colombia. Gold is in for a big run up, in my opinion, and Colombia is where its at.

GXPI has been inching up and is in a stable base. I believe we are in the infant stages of a Colombian gold rush.

Ya, I know I need a larger moniter.

Looks like there are a lot of folks not impressed with the Colombian.

Some pretty savvy speculators jumped on board too.

Ya and the news today they attracted some impressive expertise...

http://investorshub.advfn.com/boards/read_msg.asp?message_id=28319962

Chart http://investorshub.advfn.com/boards/read_msg.asp?message_id=28320059

those are pretty good results

Avalanche options Colombia property, names director

2008-04-03 17:34 MT - News Release

Mr. Sandy MacDougall reports

AVALANCHE ENTERS INTO OPTION AGREEMENT FOR MINING PROPERTY IN COLUMBIA, APPOINTS STEWART FUMERTON AS A DIRECTOR, GRANTS INCENTIVE STOCK OPTIONS, ANNOUNCES $1.5MM PRIVATE PLACEMENT FINANCING AND SETS DATE FOR AN EXTRAORDINARY SHAREHOLDER MEETING TO APPROVE A 4:1 SHARE CONSOLIDATION

Avalanche Minerals Ltd. has entered into a mining projects option purchase agreement with Mina El Gran Porvenir del Libano S.A., a company incorporated in Colombia, and various other parties, pursuant to which the vendors have agreed to sell to Avalanche nine contiguous mineral concessions covering 3,606 hectares in the department of Tolima, Colombia.

The purchase price for the property consists of $10.25-million, of which 10 per cent will be paid after Avalanche obtains approval of the TSX Venture Exchange and completes its due diligence on the property, all of which must occur on or before May 27, 2008. Thereafter, 15 per cent of the purchase price will be paid to the vendors every six months for a period of three years. Upon the purchase price being paid in full, title to the property will be transferred to Avalanche. In addition, Avalanche will pay to the vendors a total annual bonus of $100,000 for each year until the purchase price is paid in full. A finder's fee in an amount to determined will be paid to an arm's-length party for introducing Avalanche to the property, subject to approval of the TSX Venture Exchange.

Small-scale mining is currently under way on the property in two locations, at the Libano mine and at the Sirpe occurrence. The vendors are permitted under the agreement to continue such small-scale mining for up to three years from the date of the agreement at a maximum rate of 80 tonnes per day from the Libano mine and a maximum of 50 tonnes per day from the Sirpe occurrence, which is currently being developed. Both operations can be terminated earlier if Avalanche decides to accelerate the payment of the purchase price. All such operations will be subject to continuing environmental, technical and financial audits.

The principal licence for the property is fully permitted for mining and all types of exploration activities. An addendum will be filed shortly by the vendors to add drilling to the exploration permit already approved on the remaining concessions. In addition, there is an active community relations program already in place with respect to operations on the property.

Avalanche commissioned Dr. Karen Volp, PhD, of SRK Exploration Services, Cardiff, United Kingdom, to review the geology and mineral potential of the Libano gold mine within the property. The mine is located 109 kilometres west-northwest of Bogota. Results of Dr. Volp's representative rock chip sampling at Libano are given in the table.

 
 RESULTS OF THE LIBANO ROCK CHIP SAMPLES COLLECTED BY DR. VOLP 
  
 ALS certificate   LI08028024        LI08028024      LI08028024 
 method              ME-GRA22          ME-GRA22         Ag-OG62 
 element                   Au                Ag              Ag 
 sample No.               g/t               g/t             g/t 
  
 14418                  <0.05                <5               * 
 14419                  27.80               136 
 14420                  23.20               178             204 
 14421                  17.00               108              72 
 14422                 116.50               201             252 
 14423                  16.10               134             138 
 14424                  11.15                12               * 
 14425                   1.94                <5               * 
 14426                 141.00               691             609 
 14428                  24.00                26               * 
 14429                   2.68                11               * 
 14430                  12.00                97             113 
 14431                 105.50               116 
 14432                  10.80                29               * 
 14433                   0.49                <5               * 
 14434                  20.10                65               * 
 14435                   4.46                22               * 
 14436                  49.80               151 
 14437                 225.00               448 
 14438                  14.55                28               * 
 14439                  20.20               292 
 14440                   8.70               130 
 14441                  60.30                91               * 
 

traded it last week, bought back in, causes it's one of the only stocks I know that is holding and trending up right now.

Ya me too unfortunately I was late to the party this time but they still look good from here.

The volume this month has been quite good. Still remember the a run a few years back!

Hmm...

Century's participation is subject to the signing of a farm-in agreement

http://investorshub.advfn.com/boards/read_msg.asp?message_id=20614859

Gran Tierra Energy Announces Farmout of Acreage in Colombia

2007-08-01 05:55 MT - News Release

Initiates Planning for 2008 Exploration Drilling Program

CALGARY, CANADA, August 1 /CNW/ - Gran Tierra Energy Inc. (OTC Bulletin Board: GTRE), a company focused on oil exploration and production in South America, today announced that it has farmed out 50% of its 80% interest in the Azar Block in the Putumayo Basin of Colombia. Gran Tierra Energy will retain a 40% interest in the Azar Block and will retain Operatorship. Under the terms of the farmout, Gran Tierra Energy's share of costs for its retained 40% interest in work commitments in the first three exploration phases will be carried by the new partner. The farmout arrangement creates for Gran Tierra Energy a more attractive capital risk/reward profile for this prospective asset, and positions the company for additional drilling in 2008 with an experienced partner to complement emerging development plans related to two recent oil discoveries in Colombia.

The Azar Block covers 51,639 acres (209 square kilometers). It is located immediately east of Gran Tierra Energy's current operations and production in the Santana and Guayuyaco Blocks and is located approximately 20 kilometers east of the recent Juanambu-1 and Costayaco-1 oil discoveries operated by Gran Tierra Energy that tested flow rates up to 5,906 barrels of oil per day and 778 barrels of oil per day respectively. The Azar Block is located approximately 60 kilometers east of the two new technical evaluation areas that were recently awarded 100% to Gran Tierra Energy by the Agencia Nacional de Hidrocarburos (ANH) and announced on July 23, 2007.

Work commitments in the Azar Block consist of six consecutive phases. The first phase requires the acquisition of new seismic data, which will be acquired in 2007. The second phase requires a workover of an existing exploration well, Palmera-1, which encountered oil shows during drilling and in which oil pay was interpreted from logs after drilling. The well was never tested as it was not deemed commercial at the time it was drilled in 1996. The third phase requires the drilling of a new exploration well. The subsequent three phases each contain one exploration well commitment per phase. The Azar block is subject to the new and fiscally attractive ANH royalty/tax contract which includes no additional state participation.

Dana Coffield, President and CEO stated "The assignment of interests and Operatorship of this block to Gran Tierra Energy in early 2007, and subsequent award of the two recently announced technical evaluation contracts, continues to advance our strategy of actively acquiring under-developed assets to replenish and maintain a substantial inventory of drilling prospects as our existing inventory of prospects is drilled. With our new partner, we are now advancing the execution of our work commitments in the Azar Block and will add an exploration well to our 2008 drilling program, which will include exploration drilling in addition to the development drilling program associated with our recent oil discoveries in Colombia."

GTRE ...

Gran Tierra Energy Announces Award of Two New Blocks in Colombia

2007-07-23 05:55 MT - News Release

Award of Two Technical Evaluation Areas Follows Recent Discoveries Operated by Gran Tierra Energy


CALGARY, Canada -- (Business Wire)

Gran Tierra Energy Inc. (OTC Bulletin Board: GTRE), a company focused on oil exploration and production in South America, today announced that its application for two Technical Evaluation Areas (TEAs) in the Putumayo Basin in southern Colombia have been approved by the Agencia Nacional de Hidrocarburos (ANH).

The approval of the two TEAs follows the recent announcements of the Costayaco and Juanambu oil discoveries operated by Gran Tierra Energy that tested flow rates up to 5,906 barrels of oil per day and 778 barrels of oil per day respectively. The two TEAs are located near the Orito Field, the largest oil field in the Putumayo Basin. With granting of these two TEA contracts, Gran Tierra Energy will be the largest private exploration license holder in the Putumayo Basin.

Dana Coffield, President and CEO stated, "The awards of these two blocks give Gran Tierra Energy an expansive land area to evaluate and apply our acquired knowledge base from our two recent oil exploration discoveries in the Putumayo Basin. This advances our strategy of actively acquiring new assets for evaluation so as to develop an inventory of new opportunities for drilling in the future as our existing inventory of prospects is drilled."

Putumayo A covers an area of 1,409 square kilometers (570,000 acres) and is to be held 100% by Gran Tierra Energy. The effective date of the contract will be the date the formal contract is signed. The evaluation period is 12 months. During this time, Gran Tierra Energy has an obligation to conduct 400 kilometers of seismic reprocessing and geologic studies. The company will have a preferential right to apply for an Exploration & Production contract in the area during the evaluation stage and match or improve any bid by third parties to convert all or a portion of the TEA to an exploration license.

Putumayo B covers an area of 440 square kilometers (109,000 acres) and is to be held 100% by Gran Tierra Energy. The effective date of the contract will be the date the formal contract is signed. The evaluation period is for 11 months. During this time, Gran Tierra Energy has an obligation to conduct 100 kilometers of seismic reprocessing and geologic studies. Gran Tierra Energy shall have a preferential right to apply for an Exploration & Production contract in the area during the evaluation stage and match or improve any bid by third parties to convert all or a portion of the TEA to an exploration license.

If converted to an Exploration and Production contract through the ANH, the retained acreage would be subject to the new and fiscally attractive ANH royalty/tax contract which includes no additional state participation.

About Gran Tierra Energy Inc.

Gran Tierra Energy Inc. is an international oil and gas exploration and production company, headquartered in Calgary, Canada, incorporated and traded in the United States and operating in South America. Gran Tierra Energy holds interests in producing and prospective properties in Argentina, Colombia and Peru. To date, Gran Tierra Energy has pursued a strategy that focuses on establishing a portfolio of producing properties, and development and exploration opportunities, through selective acquisitions, to provide a base for future growth. Additional information concerning Gran Tierra Energy is available at http://www.grantierra.com. Investor inquiries may be directed to info@grantierra.com or 1-800-916-GTRE (4873).

Contacts:

Gran Tierra Energy Inc.
Dana Coffield, 800-916-4873
President & Chief Executive Officer
info@grantierra.com
or
Cameron Associates
Al Palombo, 212-245-8800 Ext. 209
Investor Relations
al@cameronassoc.com

Source: Gran Tierra Energy Inc.

Century Energy hopes to participate in Colombian wells

2007-06-19 17:19 MT - News Release

Mr. Jimmy McCarroll reports

Century Energy Ltd. signed a letter of intent on May 31, 2007, to participate in the drilling of two wells in the Republic of Colombia. Century's participation in the wells will earn it an interest in two contract areas (approximately 100,000 acres in total) equal to one-half of its initial participation amount.

The first well is exploratory and will be drilled this fall. The second well is a development well on the second contract area and is planned for the first quarter of 2008. Both wells will be located in a producing area with existing oil and gas infrastructure. Each well will cost approximately $7-million, with Century's interest not to exceed 50 per cent of the costs for each well.

Century's participation is subject to the signing of a farm-in agreement and its ability to obtain financing on suitable terms. The vendor company is awaiting local government approval for the proposed farm-in before additional information on the contract areas is released. A subsequent press release will be issued on receipt of this approval.

As part of its due diligence Century has engaged Sproule International Ltd. in Calgary to assist it in a technical and economic review of its participation.

Suroco Energy to acquire NCI Corporacion

2007-06-05 13:05 MT - News Release

Mr. Jeffrey Scott reports

SUROCO ENERGY INC. ANNOUNCES AGREEMENT TO ACQUIRE A LIMITED LIABILITY PARTNERSHIP WITH OPERATIONS IN COLOMBIA, MEXICO AND TEXAS, USA

Suroco Energy Inc. has entered into a letter agreement dated effective May 31, 2007, for the arm's-length acquisition of NCT Corporacion Petrolera Latinoamericana SL. NCT is a limited liability partnership formed under the laws of Spain with offices in Caracas, Venezuela and Bogota, Colombia, and operations in Colombia, Mexico and Texas. NCT has existing oil production of approximately 172 barrels per day and gas production of approximately 133 barrels of oil equivalent (boe) per day (including interests to be acquired by NCT pursuant to the Trevino transaction, as described below).

The board of directors and management of the corporation feel strongly that the acquisition of NCT will result in a number of benefits and opportunities to the corporation. It is intended that upon the completion of the proposed transaction, NCT will carry on as a wholly owned subsidiary of the corporation with current management of NCT continuing to operate NCT. The management team of NCT has extensive experience in the oil and gas industry and includes former senior managers with Petroleos de Venezuela SA, the national oil company of Venezuela. NCT also has a highly skilled technical support staff geared to expanding NCT's production base.

"What we are announcing today is the next level of strategic change for Suroco," said Jeffrey Scott, president and chief executive officer of the corporation. "This transaction will move Suroco to a new level and further enhance the opportunities we have to create value for our shareholders. The extent of our expanded asset base and the exploitation opportunities, together with the experience and relationships of our collective management and board, present exciting opportunities for Suroco. We plan to be aggressive in developing an extensive land inventory and in acquiring other positions on which to build."

Pursuant to the terms of the letter agreement and subject to receipt of applicable regulatory approval, the corporation intends to acquire all of the issued and outstanding participation units of NCT in exchange for 11,625,000 common shares in the capital of the corporation at a deemed price of 80 U.S. cents per share and the issuance of 4,375,000 special warrants of the corporation, as described below.

Holders of units will have the option to elect to receive a per unit cash payment equivalent to the exchange ratio value of the units multiplied by 80 U.S. cents for up to 10 per cent of the units they hold, subject to a maximum total cash limit of $1.28-million (U.S.). Where holders of units choose the cash option, the total number of common shares of the corporation to be issued pursuant to the proposed transaction will be decreased by an equivalent number of common shares of the corporation equal to that value which holders of units receive pursuant to the cash option.

Upon completion of the proposed transaction, three of NCT's current directors, Manuel Trevino, Fernando Puig and Eduardo Lima, will be added to board of directors of the corporation. Five of the current directors of the corporation will remain as directors of the corporation.

Mr. Trevino is currently the president and a director of NCT. Mr. Trevino is a natural gas engineer with a master of science degree from Pennsylvania State University. Mr. Trevino has 25 years of experience in the Venezuelan oil industry, in the areas of strategic planning and management and business development, both with national and international businesses. Mr. Trevino has held positions as principal and executive director of Cerro Negro, Petrozuata, Zuata III, of the Orinoco oil belt's projects, OOB. Mr. Trevino is fluent in English and Spanish.

Mr. Puig is currently a director of NCT. Mr. Puig is an engineer with advanced management studies in IESA. Mr. Puig has 33 years of experience in the Venezuela oil industry and has held high-ranking positions such as president of PDVSA Gas, president of INTEVEP (Centre for Research and Development), president of CIED (Corporate University of PDVSA) and general manager for production for the Western division of PDVSA. Mr. Puig is fluent in English, Spanish and French.

Mr. Lima is currently a director of NCT. Mr. Lima has a master of science degree in thermal sciences and management from Stanford University. Mr. Lima has over 24 years of experience in the Venezuelan oil industry in the areas of exploration and production and business development. Mr. Lima has served as a member of the negotiating team of Petrozuata in respect of the Campo Boscan agreement and was a member of the structuring team for the Venezuelan oil opening (I/II round operating agreements and exploration round). Mr. Lima is fluent in English and Spanish.

NCT's assets include the following:

* Suroriente block: NCT holds 65 per cent of the shares of NCT P&G Corp., a company incorporated under the laws of Barbados, resulting in an indirect participation by NCT of 19.8 per cent in Consorcio Colombia Energy (CCE). CCE has an incremental production contract with Ecopetrol for the operation of the Suroriente block. The Suroriente block (36,528 hectares) is located in the southeast sector of the Putumayo River and south by the San Miguel River on the Colombian side of the border with Ecuador. Oil production from NCT's interest in the Suroriente block is approximately 172 barrels per day.
* Arjona field: NCT holds a 25-per-cent participation in Consorcio Vetra-NCT, which participates with Ecopetrol in a risk production contract for the operation of non-developed and inactive fields for the Arjona field. The Arjona field (11,891 hectares) is part of the Chimichagua block, located in the department of Cesar, in the midst of the Central and the Eastern Mountain ranges in the Valle Inferior del Magdalena basin in Colombia.
* Hato Nuevo field: NCT holds a 16.67-per-cent participation in Consorcio Empesa-NCT, which participates with Ecopetrol in a risk production contract for the operation of non-developed and inactive fields for the Hato Nuevo field. The Hato Nuevo field (525 hectares) is an inactive field located 20 kilometres north of the city of Neiva, Colombia, on the eastern bank of the Magdalena River within the sub- basin of Neiva.
* Hardin field: NCT holds an interest entitling it to 9 per cent of the revenues proceeding from well Barret No. 5 and an interest entitling it to 15 per cent of the revenues proceeding from well Teten No. 1, both wells Barret No. 5 and Teten No. 1 being located in the Hardin field. The Hardin field is located in Liberty county, Texas, approximately 50 miles northeast of Houston, Tex. Gas production from NCT's interest in the Hardin field is approximately 11 boe per day.

NCT has also entered into an agreement (the Trevino transaction) whereby it will acquire a 5.51-per-cent interest in the Pirineo block held indirectly by Mr. Trevino, a director of NCT, in exchange for 704,653 units. Mr. Trevino holds, indirectly, 5.51 per cent of the shares of Monclova Pirineo Gas SA de CV (MPG), a Mexican company originally incorporated under the laws of Mexico as a limited liability society (sociedad de responsabilidad limitada de capital variable) and converted into a corporation (sociedad anonima de capital variable) in 2006. On March, 2005, MPG signed a multiple services contract with Pemex Exploracion & Production for the development, infrastructure and maintenance of the Pirineo block, a non-associated gas field located in the state of Coahuila, Mexico. The Pirineo block (37,000 square kilometres) is located in northern Mexico, in the Cuenca de Sabinas (central-north section), en el Estado de Coahuila. The Trevino transaction is subject to requisite approvals, which are currently outstanding. The gas production from the interest in the Pirineo block to be acquired by NCT pursuant to the Trevino transaction is approximately 122 boe per day.

As at May 8, 2007, NCT had cash on hand of $496,394 (U.S.) and no long-term debt. As at April 30, 2007, NCT had net working capital of $1.63-million (U.S.).

Gaffney, Cline & Associates has been engaged to complete an evaluation of proved and probable reserves and net present values of reserves of NCT in accordance with standards set out in the Canadian Oil and Gas Evaluation Handbook and National Instrument 51-101. This report is expected to be completed in June, 2007.

The special warrants referenced above will be registered in the name of Mr. Trevino and will entitle the holder thereof to acquire a total of 4,375,000 common shares of the corporation in exchange for the Trevino units, at no additional cost, in the event that the Trevino transaction is completed. In the event that the Trevino transaction is not completed within 120 days of the deadline (as defined below), the Trevino units will not be issued to Mr. Trevino and the special warrants will expire and confer no right to acquire common shares of the corporation. The special warrants will contain a call feature whereby upon completion of the Trevino transaction, the corporation shall have the right to compel the exchange of the Trevino units for 4,375,000 common shares of the corporation pursuant to the special warrants.

The closing of the proposed transaction is subject to a number of conditions including, but not limited to:

1. The proposed transaction receiving approval from holders of units holding more than 66-2/3 per cent of units outstanding or approval from that number of holders of units necessary for the corporation to acquire all of the issued and outstanding units;
2. Execution of any other documentation reasonably required to close the transaction, in a form and substance acceptable to the corporation and NCT, including, but not limited to, a mutually accepted definitive agreement incorporating the terms hereof and other terms customary of a transaction of this nature by Sept. 1, 2007 (the deadline), unless extended by mutual written agreement;
3. Receipt of all necessary consents, approvals, exemptions and authorizations of governmental bodies, lenders, lessors and other third parties, including, but not limited to, approval of the proposed transaction by the TSX Venture Exchange;
4. The approval of the corporation's and NCT's board of directors;
5. All necessary securityholder approvals being received;
6. Each issue raised by any due diligence investigation which materially affects the respective businesses and financial condition of either NCT or the corporation being remedied or addressed to the other party's satisfaction, acting reasonably;
7. Formation of a committee consisting of three nominees of the corporation and two nominees of NCT to deal with the co-ordination of operations between the corporation and NCT upon completion of the proposed transaction;
8. The execution of employment agreements by key members of the management of NCT that are to the satisfaction of the corporation and such managers.

Subject to receipt of all necessary consents, approvals, exemptions and authorizations of governmental and regulatory authorities, including the TSX Venture Exchange, concurrent with the closing of the proposed transaction, the corporation has agreed to issue to management of NCT, performance warrants to acquire up to three million common shares of the corporation. Such performance warrants will contain terms and conditions mutually acceptable to the corporation and NCT, including that such performance warrants will have an exercise price based upon the policies of the TSX Venture Exchange, shall expire three years from the date of grant and will vest based on performance milestones of total wellhead production by NCT exceeding net 1,000, 1,500 and 2,000 boe per day for 30 consecutive days, as determined by the board of directors of the corporation.

The corporation has also agreed to lend to NCT, on a secured basis, up to $3-million (U.S.) to finance cash calls and operating costs associated with NCT's oil and gas production. The loan is subject to satisfactory completion of due diligence by the corporation and negotiation of loan documentation and related documentation (including documentation necessary to provide collateral or a security interest in NCT's 19.8-per-cent net interest in the Suroriente block (as described above)). In the event that the corporation and NCT are unable to enter into a mutually accepted definitive agreement by the deadline, then the loan will become due in 90 days with interest payable monthly at a rate of London interbank offered rate (LIBOR) plus 2 per cent. In the event that NCT is unable to repay the loan and any interest payable within that 90-day period, the corporation will have the right to immediately realize on the security.

The letter agreement provides for mutual break fees of $250,000 (U.S.) in the event of non-completion of the proposed transaction for specified reasons.

There are currently 27,366,606 common shares of the corporation outstanding. Upon closing of the proposed transaction, the corporation will have 38,991,606 common shares of the corporation outstanding, 43,366,606 common shares in the event that all of the special warrants are exercised.

Cons AGX to acquire 75% of Rubiales Holdings

2007-05-30 18:11 MT - News Release

Mr. Ronald Pantin reports

COMPANY TO ACQUIRE 37.5% INTEREST IN HEAVY OIL PROJECT IN LLANOS BASIN COLOMBIA

Consolidated AGX Resources Corp. has entered into an agreement dated May 25, 2007, to acquire 75 per cent of the outstanding shares of Rubiales Holdings Limited. Rubiales holds 50-per-cent indirect interests in certain hydrocarbon concessions pursuant to three contracts with Ecopetrol SA for the exploration and exploitation of hydrocarbons in the Llanos basin in the Meta Department of Colombia. Consideration for the acquisition is $255-million (U.S.), of which $15-million (U.S.) has been paid to the selling shareholders as a non-refundable deposit. Up to $20-million (U.S.) of the purchase price may be paid in units having the same terms as the financing units.

Through its wholly owned subsidiary, Meta Petroleum Limited (MPL), Rubiales currently produces more than 18,500 gross (5,000 net) barrels of heavy crude oil per day from its Rubiales and Piriri association contracts with previously assessed proven and probable reserves of over 375 million barrels of heavy crude oil (12.5 degrees API). These figures are believed by the company to be reliable but are subject to review and confirmation by independent engineers, which have been retained by the company to prepare reports in compliance with Canadian Securities National Instrument 51-101. The Rubiales and Piriri concessions expire in July, 2016. Along with its partner, Ecopetrol SA, MPL continues to evaluate strategies to significantly increase the production of heavy crude from the Rubiales and Piriri association contracts. Rubiales holds a majority interest in a third concession named Quifa expiring in 2031 that currently is in the exploration stage of development. The company has signed a memorandum of understanding with Pacific Stratus Energy Ltd., which would allow Pacific Stratus, subject to Colombian regulatory approval, to farm in to 50 per cent of the company's interest in the Quifa concession by financing the company's cost of seismic studies and drilling three wells, at an estimated cost of $5.3-million (U.S.).

The company is also proceeding with its previously announced acquisition of Major International Oil SA, which holds other hydrocarbon interests in the Llanos basin in Colombia.

Financing for the acquisitions and the continuing operation will be provided through a private placement led by GMP Securities LP, and including Canaccord Adams Inc., Orion Securities Inc. and Frazer Mackenzie Limited, of 470.59 million subscription receipts at a price of 85 cents per subscription receipt. The private placement will be conducted on an agency commercially reasonable best-efforts basis. Closing of the subscription receipt financing is expected to occur on July 12, 2007, with the funds from such financing to be held in escrow until closing of the acquisition of Rubiales. At closing of the Rubiales acquisition, the subscription receipts will convert to units. Each unit will consist of one common share and one-half of a common share purchase warrant. Each whole share purchase warrant is exercisable at $1.30 per common share for a period of five years from closing of the financing. All securities issued pursuant to the private placement will be subject to a four-month hold period from the closing of the financing. This private placement supersedes the $35-million financing previously announced by the company in Stockwatch on May 9, 2007.

Financing for the $15-million (U.S.) non-refundable deposit has been provided through a bridge loan from Endeavour Mining Capital Corp. (EMCC). As consideration for providing the bridge loan, EMCC will receive four million warrants. Each warrant is exercisable for one common share of the company at a price of $1.05 for one year.

Effective May 22, 2007, Ronald Pantin and Gordon Keep were appointed to the company's board of directors, and Ray Strafehl resigned from the board. The proposed board members announced in the company's May 9, 2007, news in Stockwatch, John Zaozirny and Jaime Perez-Branger, along with Augusto Lopez, have been nominated for election at the company's upcoming annual meeting to be held June 18, 2007.

Mr. Lopez is the former president of Bavaria SA, Colombia's largest producer of beverages, and sits on the boards of numerous Colombian and Latin American enterprises involved in the securities, television, airline, cellular and banking industries.

At closing of the Rubiales acquisition, German Efromovich will be appointed to the board of directors. Mr. Efromovich is an entrepreneur who has created a ship, drilling rig leasing, and manufacturing, oil production and aviation empire. Mr. Efromovich's other ventures include power plants and medical supplies. He also launched the Brazilian airline Oceanair and in 2004 bought Colombian legacy airline Avianca. Through the Sinergy group of companies, he controls Avianca, Wayraperu, VIP Ecuador and Oceanair. His oil interests are controlled through Maritima Petroleo e Engenharia Ltda.

In addition to the options granted on May 9, 2007, the company has also agreed to grant incentive stock options to directors, officers and consultants to purchase four million shares at $1.05 per share, subject to regulatory approval.

Advisory fees are payable on closing of the Rubiales acquisition to Aventia Ltd. as to $4-million (U.S.), and $3,825,000 (U.S.) is payable to GMP Securities LP and to Endeavour Financial Ltd. (as to 50 per cent each).

"We are pleased to add Rubiales to our growing interests in Colombia," noted Ronald Pantin. "Meta Petroleum is one of the premier oil and gas private operators in Colombia and we look forward to the opportunity to become one of the largest producers of heavy crude oil in Colombia."

Mr. Efromovich, chairman of Avianca Airlines and a founding shareholder in Rubiales, commented: "I look forward to the chance to work with CSX and continue our rapid growth in Colombia. Our shareholders are proud of the employees of MPL and their accomplishments in building one of the most successful firms in Colombia. We believe this alliance will further enable us to become one of the largest and most efficient producers of crude oil in the southern hemisphere."

Closing of the above transaction is subject to TSX Venture Exchange approval.

PSE ...

Cambridge Mineral Resources PLC revaluation in Q2?

From Equity Growth dated 04/5/07

1. Quintana feasibility by end april
2. Mina del Sol (world class?) drill results by end may
3. Revaluation from £2.6/oz to £5-£10/oz possible

Cambridge Mineral Resources (CMR), the South American focused gold exploration company, has recently announced some very positive drilling results relating to its Quintana project in the Colombian department of Antioquia. Specifically, Quintana is located about 130 kms northeast of Medellin in the heart of the Antioquian Gold Belt.

At Quintana a mesothermal quartz-sulphide vein averaging 1 to 1.6m thick is currently mined on an artisanal basis. In late 2006 CMR embarked on a 2000m 10-hole diamond drilling programme to test the continuity of the vein at depth. Drilling results suggest high-grade intersects including 2.5m at 46.44g/t Au and 1.75m at 55.39g/t Au. The intersects appear below the presently known reserves and therefore point to an enhanced resource base.

Quintana is CMR’s most advanced development project in Colombia. The plan is to move along the vein developing blocks of 50,000 tonnes of ore prior to extraction. A feasibility study for the development of Quintana has been prepared by CMR and is awaiting independent verification. We believe sign-off should be received by end April. The feasibility study will be used to obtain project finance for the development of the Quintana mine and the construction of a mill. Depending on the availability of finance, production could commence by late in the third quarter of 2007. Initially, mine production is expected to be 50-100 tonnes of ore per day but over the next two to three years should increase to at least 200 tonnes. If Quintana commences operations as expected, gold production of a few thousand ounces in Colombia is possible in 2007.

Post Quintana drilling operations are expected to be focused on Mina del Sol located about 70 kms northeast of Medellin. Again, Mina del Sol currently operates as an artisanal mine but between 1994 and 2000 was appraised by the Canadian Company, Corona Goldfields. Reflecting high grades and apparently wide veins, Mina del Sol could be a world class discovery. Results from diamond drilling programme at Mina del Sol could be made known by end May.

CMR has languished since end 2006 at just over 3p/share, only modestly above the all-time low of 2.50p/share plumbed in October 2006. We believe CMR has continued to suffer from perceived risks surrounding its aggressive expansion programme and the related very large increase in the financing requirement. Once the Quintana bankable feasibility study has been signed-off and the formal go ahead given for mine development, however, sentiment could rebound sharply. The valuation basis is a decidedly marginal £2.6/oz based on an estimated resource base of 2.5m ozs and the current market capitalisation of £6.6m. If the mine development programme in Colombia gathers momentum as expected in the coming months a valuation of £5/oz to £10/oz would not be onreasonable.

http://www.proactiveinvestors.co.uk/registered/research/equitygrowth/NEWSLETTER_05_April_07.pdf

*Corona Goldfields = Conquistador Mines Ltd = Orsa Ventures Corp
however Orsa is exploring China nowadays

Cambridge Minerals Plc London AIM:CMR
http://www.cambmin.co.uk/
MarketCap £6.53m
100.000oz by 2010

Mina del Sol = El Rayo (46mx250m)
Trench #200 = 11m@12g/t width
Trench #201 = 30m@9.30g/t
102-105.1 = 11m@7.14g/t
http://www.cambmin.co.uk/?page=el_rayo_overview

***** TAO PR Released******


Tao Minerals Updates Project at Golondrina Property, Colombia

Tao Minerals Ltd. ("Tao") (OTCBB:TAOL) reports today that it has received the final concession contract, from Ingeominas department of the Colombian government for the Golondrina Project. This contract is another important milestone in solidifying Tao´s position in the Golondrina project. Tao Minerals is currently seeking financing with the previous initial financiers and expects to make an announcement shortly on a further financing. This financing should allow completion of all phases of the project including current phase two trench excavations, cartography and sampling analyses, phase three and phase four rotator diamond drill program costs, along with all camp and manpower costs. As reported earlier the phase one trenching and sampling program at the Golondrina produced multiple high grade gold values up to 72.87 grams per tonne. Tao Minerals has a number of recent trench samples at the lab for analysis and expects to report on those within the next ten days.

Notice Regarding Forward Looking Statements

Uranium!

http://www.investorshub.com/boards/read_msg.asp?message_id=17893094

SHortfuse, did you get a chance to go visit the TAOL office.


OG

MR.Sikora from TAOL Minerals is in new york hopefully to close financing.


OG

Another mining company in Colombia. I assume it's a London exchange. Here's the PR...
http://www.mineweb.net/co_releases/596963.htm

TAOL had an update today. not very flashy but they're still alive

OG