NEW YORK, June 24, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Civitas Resources, Inc. (NYSE: CIVI) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Civitas you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/civitas-resources-inc. Investors have until July 1, 2025, to ask the Court to be appointe ...

NEW YORK, June 23, 2025 (GLOBE NEWSWIRE) -- Pelican Acquisition Corporation (NASDAQ: PELI, the “Company” or “Pelican”), a Cayman Islands exempted company formed as a special purpose acquisition company, today announced that it has entered into a non-binding letter of intent (“LOI”) with Greenland Exploration Limited (“Greenland Exploration” or “GEL”) to pursue a potential business combination. Greenland Exploration is a Texas-based special purpose vehicle focused on developing strategic interests in North A ...

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Core Viewpoint - A lawsuit has been filed against Civitas Resources, Inc. and its senior executives for potential violations of federal securities laws, alleging misleading statements regarding the company's production capabilities and costs [1][2][3]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the District of New Jersey, titled Lin v. Civitas Resources, et al., No. 25-cv-03791, with claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [2]. - Investors have until July 1, 2025, to request to be appointed to lead the case [2]. Group 2: Company Background - Civitas Resources is an oil and gas exploration and production company with key assets in the Denver-Julesburg Basin in Colorado and the Permian Basin in Texas and New Mexico [3]. - The company claimed to have "enhanced recovery potential" and "driven production ahead of plans," while asserting that costs were below expectations [3]. Group 3: Financial Performance and Stock Impact - On February 24, 2025, Civitas announced disappointing Q4 and full year 2024 results, revealing that oil production had peaked and would require significant capital investment to increase production [4]. - Following the announcement, Civitas's stock price fell over 18%, from $49.30 per share to $40.35 per share [4].

CALGARY, Alberta, June 20, 2025 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced that, for personal reasons, Peter Dey will be stepping down from the Board of Gran Tierra at the end of June 2025. Peter has agreed to make himself available to consult with the Board as required until the end of 2025 while a search is conducted for a replacement director. “On behalf of the Board of Directors of Gran Tierra, I want to thank Peter ...

Core Insights - ConocoPhillips (COP) has confirmed the Slagugle oil discovery in the Norwegian Sea with the successful drilling of the second appraisal well, 6507/5-12 S, in production license (PL) 891 [1][9] - The discovery is estimated to contain approximately 30.8-61.6 million barrels of oil equivalent (Mboe) and is located 270 kilometers north of Kristiansund [2][9] - The second appraisal well encountered multiple columns of oil in high-quality sandstone reservoirs, with a maximum production rate of 650 standard cubic meters of oil per day [4][5] Exploration and Development - PL 891 was awarded in 2016, and the Slagugle discovery was first reported in 2020 [2] - The well 6507/5-12 S is the third exploration well drilled in this license, following previous attempts that did not yield commercially viable quantities of oil [3] - The data collected from the exploration campaign will be analyzed to determine the potential for developing the Slagugle discovery [5] Technical Details - The formation test conducted during the drilling aimed to evaluate reservoir quality and connectivity between geological layers [4] - The well struck oil in a 188-meter interval between the Are Formation and the Grey Beds, indicating promising results for future development [4][5]

Core Insights - Prairie Operating Co. (PROP) is focusing on disciplined cost control and operational efficiencies as a competitive advantage in the DJ Basin [1][3] - The company is self-sourcing critical inputs and utilizing proprietary logistics to minimize costs and project timelines [2][8] - Prairie's strategy allows for scalable growth and margin preservation, providing a buffer against market volatility [3][6] Company Strategy - PROP is implementing a capital-light development program with a focus on short payback wells, allowing for flexibility while expanding production [1][8] - The company has 157 permits and over 586 gross locations in the DJ Basin, positioning itself effectively in a less competitive environment [6][8] - The shift of major players like Chevron and Civitas Resources away from the DJ Basin has created opportunities for Prairie to execute its strategy [4][5] Financial Performance - Shares of Prairie Operating Co. have decreased by 43% year to date [7] - The company trades at a forward price-to-sales ratio of 0.32, significantly below the sector average, indicating potential undervaluation [9] - Recent Zacks Consensus Estimates for 2025 and 2026 EPS have been revised down by 18% and 20%, respectively [11]

NEW YORK, June 20, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Civitas Resources, Inc. (NYSE: CIVI) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Civitas you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/civitas-resources-inc. Investors have until July 1, 2025, to ask the Court to be appointe ...

Oslo, 19 June 2025 The Annual General Meeting of Interoil Exploration and Production ASA will be held at the offices of Advokatfirmaet Schjødt AS at Tordenskiolds gate 12, Oslo on 10 July 2025 at 14:30 (CEST). Please find attached the notice for the meeting including the attendance form and proxy in English and Norwegian. The annual report for 2024 is available on the company's web page here (https://interoil.no/investors/) and on NewsWeb here (https://newsweb.oslobors.no/message/649531). Shareholders may r ...

Core Viewpoint - Civitas Resources, Inc. is facing a class action lawsuit due to alleged misleading statements and failure to disclose significant risks during the Class Period from February 27, 2024, to February 24, 2025 [1][4]. Group 1: Company Overview - Civitas Resources is an oil and gas exploration and production company focused on acquiring, developing, and producing crude oil and liquids-rich natural gas from assets in Colorado's Denver-Julesburg (DJ) Basin and the Permian Basin in Texas and New Mexico [3]. Group 2: Allegations and Financial Performance - The class action lawsuit claims that Civitas Resources made false statements and failed to disclose key risks, including a likely significant reduction in oil production in 2025 due to natural declines in the DJ Basin and a low number of new wells [4]. - Civitas reported fourth-quarter and full-year 2024 financial results with revenue of $1.29 billion, missing analyst expectations by $3.44 million, and non-GAAP earnings per share of $1.78, falling short of projections by $0.21 per share [5]. - The company forecasted average oil production for 2025 to be between 150,000 and 155,000 barrels per day, indicating an approximate 4% year-over-year decline [5]. Group 3: Operational Challenges - Civitas attributed lower production levels to natural declines in the DJ Basin, a reduced number of new wells, severe winter weather, and unexpected third-party processing outages in early 2025 [6]. - The company announced a 10% workforce reduction and the termination of its Chief Operating Officer and Chief Transformation Officer [6]. - Following the disclosures, Civitas Resources' stock price dropped over 18% [6].