Pioneer Drilling Company announced it has entered into an amendment to its revolving credit agreement that will increase the Company’s flexibility under certain covenants. The amendment, among other things:

* Shortens the maturity date of the credit agreement from February 28, 2013 to August 31, 2012.
* Reduces the aggregate amount of commitments under the credit agreement from $400 million to $325 million (of which $50 million will be available for the issuance of letters of credit).
* Amends the pricing terms for borrowings and increases the commitment fee. Read more

HARRISBURG, Pa., Dec 16, 2008 /PRNewswire-USNewswire via COMTEX/ — Permit Fees Have Been Unchanged Since 1984

The Environmental Quality Board approved a Department of Environmental Protection request today to impose new fees for Marcellus Shale drilling permits that will replace the flat $100 permit fee with a variable fee structure based on well depth.

The new fee structure will help ensure adequate funding to cover program expenses for permit reviews and well site inspections. The fee increase will also allow the department to hire additional staff in Meadville, Pittsburgh and Williamsport to process permits and monitor drilling activities in the northcentral and northeastern areas of the commonwealth.
“Due to technological advances in drilling and rising natural gas prices, gas exploration in the commonwealth has increased significantly with 40,000 new drilling permits anticipated during the next three years,” Environmental Protection acting Secretary John Hanger said. “Despite this substantial increase in workload, including permit review and inspection of oil and gas well sites, the department has not increased the $100 permit fee for oil and gas well permits since 1984.
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State-owned Central Mine Planning and Design Institute Ltd, the only agency to undertake exploration of coal reserves in the country, is outsourcing about 10 lakh meters drilling task to other companies. The move will help to expedite production of coal for power and steel sectors.

A coal ministry official said that the company has been asked to step up its exploration and drilling activities to meet future demands of coal. “The government is taking measures to strengthen CMPDIL. The company will double its in-house drilling capacity to 4 lakh meters per annum and outsource most of the task to public and private sector companies,” a senior official in the coal ministry, who did not wish to be quoted, told ET. CMPDIL is a subsidiary of Coal India Ltd (CIL).
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Galway Resources Ltd. (GWY: TSX-V) is pleased to announce today that it has entered into an option agreement with Rio Tinto Mining and Exploration Corporation (Rio Tinto) to acquire 100% interest in nine coal concessions totaling 7,500 hectares, roughly 50% of the previously drilled San Louis Coal basin located in Santander, Colombia. The project will be known as Carboluis.

“We are pleased to announce the first project resulting from our Colombian strategy of targeting coal properties that have the potential for quick resource development and production potential for a medium sized mine,” said Rob Hinchcliffe.” Of the 29 previous drill holes in the overall San Louis Basin, the best holes were on the property we optioned, which enabled us to develop a seven hole program targeting an open-pittable resource of 20 to 30 million tons of high grade coal, that will be executed right away.”
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VANCOUVER, BRITISH COLUMBIA, —- (MARKET WIRE via COMTEX) —-Gold Canyon Resources Inc. (TSX VENTURE: GCU)(PINK SHEETS: GDCRF) (“Gold Canyon” or “the Company”) is pleased to announce an additional Reverse Circulation (RC: 10.70, -0.10, -0.92%) drilling program to be conducted at the Company’s Cordero Gallium Project in Nevada, as part of ongoing preparation for preliminary feasibility work. The drill program is designed to follow up and further test newly defined structurally controlled exotic metal anomalies. Also, it will provide additional metallurgical information on the rare and exotic metals that have been identified by previous RC and recent large diameter core drilling completed at Cordero. This drill program will consist of six holes having an aggregate length of approximately 2500 feet.

The Cordero Gallium Project, covering over 3,800 acres and recognized as the largest known primary gallium occurrence in North America, is located in and around the historic Cordero and McDermitt mercury mines, notable as the largest mercury producers in the western hemisphere during much of their production life. Read more

Drilling at Dwyka Resources’ Daguma coal project, in the Philippines, would start in August, the Aim- and ASX-listed company said at the weekend, while reporting that Australian engineering services firm Sedgman has been appointed to conclude a prefeasibility study by September.

The company said in a statement that two diamond-drilling rigs were being moved to the site, while geophysical logging equipment was being imported into the Philippines. A camp and core shed was also under construction and would be completed before drilling started.

The programme was expected to further define the resource of 150-million tons of coal within 24 months, with the intention of bringing the project into production.

“It is our objective to move the project quickly towards production. The drilling programme is an important step in verifying the size of the project’s resource, while the prefeasibility study assists us in determining the best approach to maximize the project’s value,” commented Dwyka Resources CEO Melissa Sturgess. Read more

WELL wrapped up Liverpool Plains residents turned out in force yesterday to signal their dissatisfaction with drilling work on their lands.

Aided by a cuppa, a warm fire, a loudspeaker and dozens of brightly coloured signs, Caroona landholders settled in for a long wait.

The residents blocked off landholder Tim Duddy’s property after mining giant BHP secured a legal injunction to stop Mr Duddy from blockading the property himself.

The blockade began about 7am – the time last Friday’s court order allowed BHP drillers to access the Duddy

property.
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