Mass Petroleum, Apc, & Fig: Mass Petroleum Is Getting A New Lease On The Oil And Gas Business

Mass Petroleum Inc

Mass Petroleum Inc. (OTCBB: MASP)

After the BP oil spill began three months ago, the entire world has begun questioning offshore drilling and the potential dangers to our aquatic ecosystem. The damage caused by the BP spill cannot even be quantified at this time, and we know based on the Exxon-Valdez spill that spills are very difficult to clean. It took Exxon four summers to clean up the spill, but there remain remnants of oil on Alaskan beaches to this day. The Exxon-Valdez spill impacted 1300 miles. Thus, the prudence of offshore drilling has been called into question and the future of how it is performed is unknown but will likely meet heavy scrutiny under strict guidelines to protect the sanctity of the aquatic eco-systems.

Mass Petroleum is getting a new lease on the oil and gas business. In fact, it is acquiring six separate leases in the Walnut Southeast field area. of Kansas Eagle, Mein, Bammann, Westhoff, Steffens, and Bradshaw. Each lease is developed with a number of producing wells and, in some cases, water injection as well. The Eagle field, which has been in production since the 1950s, has produced more than 100,000 barrels of oil.

About Mass Petroleum Inc:

Mass Petroleum Inc is engaged in oil and gas exploration and production. The company is expanding its business through acquisitions of exploration stage oil and gas wells by means of leases or buying substantial interest in them. The company has work force of most experienced professional in oil and gas sector. As on November 30th, 2009 the company reported its three exploration properties in Oklahoma with 2.34 percent interest in their ownership. The companys main focus is in oil and gas leases and interest ownership in medium sized oil and natural gas production properties. Mass Petroleum is also looking forward to acquire non operational interests and exploration interests in producing wells.

For More Info Visit: http://www.masspetroleum.com

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Anadarko Petroleum Corporation

Recent News: BPs Partners in Well Try to Distance Themselves

APC is among the largest independent oil and natural gas exploration and production companies in the world, with approximately 2.3 billion barrels of oil equivalent (BBOE) of proved reserves at year-end 2009. APCs portfolio of assets encompasses premier positions in nearly a dozen major U.S. onshore natural gas resource plays.

APC also is the largest independent deepwater producer in the Gulf of Mexico, and has production and/or exploration in Alaska, Algeria, Brazil, China, Indonesia, East and West Africa.

Kahn Swick & Foti, LLC (KSF) has filed a class action lawsuit against APC in the United States District Court for the Southern District of New York, on behalf of purchasers of the common stock of the Company between June 12, 2009 and June 9, 2010, inclusive (the Class Period). No class has yet been certified in this action.

In particular, the Complaint charges APC, 25% owner of the Macondo/Deepwater Horizon well currently leaking millions of gallons of oil into the Gulf of Mexico, with failing to disclose, among other things: that there was no effective Exploration and Oil Spill Response Plan for Macondo/Deepwater Horizon; that BP implemented drilling procedures solely to cut costs at the expense of safety; that the Company lacked adequate systems of internal, operational or financial controls to maintain adequate insurance reserves or to meet the known or foreseeable risks associated with its deepwater drilling liabilities; and that defendants lacked any reasonable basis to claim that APC was operating according to plan, or that APC could achieve guidance sponsored and/or endorsed by defendants.

More about APC at www.anadarko.com

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FIG, Fortress Investment Group LLC

FIG is a publicly owned investment manager. FIG provides its services to pension funds, endowments and foundations, financial institutions, funds of funds and high net worth individuals. It manages hedge funds and publicly traded alternative investment vehicles. FIG invests in the private equity, public equity, fixed income, and alternative investment markets of the United States and across the globe.

FIG issued the following statement, correcting erroneous press coverage concerning its financial backing of Bob and Harvey Weinstein and Ron Burkle in their bid for Miramax:

The New York Posts report that Bob and Harvey Weinstein and Ron Burkle have lost the financial backing of Fortress Investment Group is patently false. Fortress remains committed to providing financial support for the Weinsteins and Mr. Burkles bid for Miramax. Our relationship with the Weinsteins and Mr. Burkle, also contrary to yesterdays report, remains strong and constructive, and the group has ample financial backing to successfully pursue an acquisition of Miramax. We look forward to continuing to work closely with our partners in support of their efforts.

More about FIG at www.fortressinv.com

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by: Blayne Sheffield

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