Mass Petroleum, British Petroleum, & Anadrko: Bp Set To Replace Ceo; Spill Cleanup Resumes

Mass Petroleum Inc

Mass Petroleum Inc. (OTCBB: MASP)

(MASP.OB) is an oil and gas production company backed by an experienced and dedicated management team. MASS Petroleum is engaged in the acquisition of producing oil and natural gas wells, interests and leases from existing companies, governments, and through the open market.

MASP is engaged in the acquisition of producing oil and natural gas wells, interests and leases from existing companies, governments, and through the open market.

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 Petroleums 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 todays market.

For more information about this company please visit http://www.masspetroleum.com

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

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BP p.l.c. (NYSE: BP)

Recent News: BP set to replace CEO; spill cleanup resumes

BPs board will name managing director Bob Dudley as its new CEO by October, if it approves a negotiated departure plan for embattled CEO Tony Hayward, according to published reports. The reports described the BP CEO transition plan as a mutual decision between Hayward and the company.BP wouldnt confirm its plans to replace Tony Hayward with Dudley. BP issued a press release on Monday saying that no final decision had been made about potential management changes, and a BP spokesman declined to comment specifically on Haywards status.

BP has spent more than $3 billion to corral the spill, and also BP has agreed to set aside another $20 billion for damage claims. In addition, BP has taken steps to reassure business partners in the Middle East and Russia that it remains a viable company.

British Petroleum provides fuel for transportation, energy for heat and light, retail services, and petrochemicals products. The company operates through two segments: Exploration and Production, and Refining and Marketing.

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Anadarko Petroleum Corporation

Recent New: BP: Cracks in Well Head Still Possible As Cap Test Goes On

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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by: Blayne Sheffield

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