1. MGM Energy, a Canadian oil and natural gas exploration company, has entered into a farmout agreement with Shell whereby Shell has agreed to fund the drilling and completion of two wells in the Northwest Territories. MGM’s stock rose by 41% after the agreement was publically announced. The wells will be built in the Central Mackenzie Canol shale oil play. Shell will earn a 37.5 percent share in the licenses for the wells. The President of MGM Energy, Henry Sykes, stated “We are extremely excited about the Canol shale play, and this agreement provides us with the ability to assess its potential.”  
  2. Kivalliq Energy, a uranium exploration and development company, is the first in Canada to sign an agreement with the Inuit to explore for uranium on their lands. The $20 million exploration program at the 252,830 acre Angilak Property in Nunavut. Three recently identified new zones include: the Western Extension Zone, which was extended to 365 vertical metres for radioactive intercept; the Southwest Zone, which was discovered at 300 metres and the Pulse zone intersected radioactivity; and the Pulse zone, which intersected radioactivity in 14 of 27 holes. Ongoing aggressive exploration will investigate multiple uranium targets discovered in 2010 and 2011 prospecting programs.