Masp.ob, Apc, Oxy Stock Update From Pennytobuck.com

Mass Petroleum (OTC:MASP) is engaged in the acquisition of producing oil and gas

projects to build its reserves and ensure sustainable growth through focused project development and acquisitions. MASS Petroleum is pleased to announce it has signed a LOI with JKA Ventures to acquire various oil and gas leases located in Kansas, USA. The leases available to MASS Petroleum include high working interest oil operations with current production at approximately 12 bbl/d from several leases located in Crawford County Kansas. In addition, there are other prospective leases in the area MASS Petroleum will have access to as well for further development and drilling purposes. The bulk of the production of the oil leases derives from the Bartlesville and Cattleman formations of Pennsylvanian age which fit into MASS Petroleum's target area as mentioned earlier. The preliminary terms of the LOI assign a cost of the acquisition at $ 800,000 USD subject to MASS Petroleum completing its due diligence on the target leases in order to determine their economic value in today's market.

Anadarko Petroleum Corporation (NYSE:APC) stated another significant discovery offshore Ghana at the Owo prospect in the Deepwater Tano Block. The discovery well encountered approximately 174 net feet of high-quality oil pay in two zones of stacked Turonian-age reservoir sands contained within a gross vertical reservoir interval of more than 500 feet. Pressure data indicates that these zones are part of the same accumulation, and the oil appears to be light crude between 33 and 36 degrees API. The Owo-1 well has been drilled to a total depth of approximately 12,765 feet in about 4,685 feet of water. The partnership plans to sidetrack the well to further define the sand continuity as well as test a deeper and laterally offset part of the Owo channel system. Cores are also planned in the well to provide additional reservoir data needed for a potential development plan. After the sidetrack is complete, the rig will be mobilized to drill the Onyina prospect that also is located on the Deepwater Tano Block.

Occidental Petroleum Corporation (NYSE:OXY) announced net income of $1.1 billion ($1.31 per diluted share) for the second quarter of 2010, compared with $682 million ($0.84 per diluted share) for the second quarter of 2009. In announcing the results, Dr. Ray R. Irani, Chairman and Chief Executive Officer, said, "The second quarter 2010 net income of $1.1 billion was a 56-percent increase over the same period of 2009. The second quarter 2010 production was 743,000 BOE per day, a 3.6-percent increase from the second quarter of 2009 despite losing 29,000 BOE per day from the effect of production sharing and similar contracts. We continue to generate significant cash flow with the first six months of 2010 results generating cash flow from operating activities of $4.3 billion. Free cash flow after capital spending and dividends was over $2 billion."

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by: Bill Pennyman

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