Thursday, October 31, 2013

Sapphire mining in Australia

Sapphire has been mined in Australia for over 150 years and Australian mines have produced commercial quantities for at least the last 50 years.

One of the first reports is from 1851 when sapphire was recovered during gold mining on the Cudgegong and Macquarie rivers in New South Wales. In 1854 sapphire was reported from the New England area of New South Wales and in 1875 Sapphire was discovered in Retreat Creek, Central Queensland. Deposits are located in two main areas on the eastern part of the continent: the gem fields at Anakie in Queensland, and the New England district of New South Wales. Sapphires are found in secondary deposits, which are derived from weathered alkali-basalts.
Thailand, Burma and Sri Lanka are widely perceived as major sources of sapphire. Most of the high grade commercial deposits in these countries have been largely depleted.

Australian sapphire mining saw hard times until the advent of machinery mining and the arrival of Thai buyers in the mid 1970's

Questor Technology Inc. - QST.v

Questor Technology Inc. - QST.v designs and manufactures incinerators that burn waste gases. Questor Incinerators create the best plume dispersion available, providing up to 99.99% combustion efficiency without any particulate matter, poly-nuclear aromatic hydrocarbons (PAH's) or unburned hydrocarbons.

On October 29, 2013 the company reported News

Questor Technology Inc. has received purchase orders for eight incinerators of various sizes from a major crude oil and natural gas producer headquartered in Calgary, and for nine incinerators of various sizes from Dominion Transmission Inc., operator of one of the largest underground natural gas storage systems in the United States, headquartered in Richmond, Va. The values of the orders are $1.5-million and $1.1-million, respectively and the majority of the incinerators in both orders are expected to be delivered in the fourth quarter of 2013. Although each transaction individually is not considered material, in combination with the company's performance in the first half these orders will contribute to strong 2013 financial results for Questor.

Once delivered to the customer, the eight incinerators will be deployed in a well tie-in project in the oil sands to incinerate waste gas. Dominion will deploy the nine units to combust waste gas from dehydration units on several of their sites in Pennsylvania and West Virginia.

"Questor's incineration technology addresses the problematic global issues associated with flaring," said Audrey Mascarenhas, Questor's president and chief executive officer. "We are assisting our clients with regulatory compliance and environmental performance thereby helping them obtain the social licence to operate. Our technology delivers a 99.99-per-cent destruction/combustion efficiency of waste hydrocarbon gas eliminating the impurities that would be released into the air through inefficient combustion from flaring."




Wednesday, October 30, 2013

Serinus Energy Inc. - SEN.t

Serinus Energy Inc. - SEN.t is an international oil and gas exploration and production company dual listed on the Warsaw Stock Exchange and Toronto Stock Exchange. The corporate portfolio comprises 13 operated licenses in 5 countries and covers the full-cycle of upstream value chain - from high impact exploration potential through appraisal and development to constantly increasing production.

On October 29, 2013 the company reported News

Ukraine – Olgovskoye-24 Well Cased As Potential Producer

Serinus Energy Inc. (“Serinus”, “SEN” or the “Company”), an international upstream oil and gas exploration and production company,is pleased to report that the Olgovskoye-24 (“O-24”) well has been cased to total depth (“TD”) as a potential gas producer. The O-24 well is operated by KUB-Gas LLC (“KUB-Gas”), a partially-owned subsidiary in which Serinus has an effective 70% ownership interest through its 70% shareholding of KUBGas Holdings Limited.

The O-24 well commenced drilling in August with an original planned TD of 2,900 metres with the principal target being the Bashkirian B6 zone. During the course of the drilling it was decided to deepen the well to penetrate the Serpukhovian as the Company believed that the zone discovered in the O-15 well extended to the northwest. Consequently the O-24 well was drilled to a final TD of 3,300 metres and logged. The logs indicate 15 metres of potential pay in 4 different zones within the Bashkirian and Serpukhovian. Production testing of the well is scheduled to occur prior to year end. The main target of the well, the B6 sandstone currently producing in the O-12 well, was encountered at a depth of 2,285 metres with a gross thickness of 22 metres and with 5 metres of gas pay interpreted on logs. The S6 zone, encountered at a depth of 3,162 metres, is also sandstone with a gross thickness of 10 metres and with 3.5 metres of gas pay interpreted on logs. In addition potential pay was interpreted on the logs in the R30c and the B4b zones. The O-24 well is located approximately 1 kilometre to the northwest of the Olgovskoye-12 well, a B6 zone gas discovery which reached TD in September 2011 and which is currently producing more than 3.5 million cubic feet per day (“MMcf/d”) (2.45 MMcf/d net to Serinus’ 70% interest).




Monday, October 28, 2013

Venezuelan Diamonds

PARKUPIK, Venezuela (Reuters) - Veteran gold and diamond buyers sit on a small metal boat gliding down a river in southern Venezuela that brushes the borders of Brazil and Guyana. Armed with weighing scales, magnifying glasses and rucksacks stuffed with cash, the Venezuelan traders stop at many of the myriad illegal mines that line the water and scar the jungle.

"I have diamonds in my blood!" mused one buyer while macaws patrolled the jungle canopy near the village of Parkupik.
The diamonds he and others purchase will likely end up in trading centers like Tel Aviv, Antwerp, London and New York after being smuggled into neighboring Guyana to obtain falsified papers. Numerous traders across Venezuela and Guyana confirmed the illegal business to Reuters, all asking not to be identified for fear of attracting authorities' attention.