• According to Irving Oil Ltd., it's plan to split the building of Canada's first new oil refinery into two $4 billion stages may protect this project from failing due to market uncertainty, a fate that has claimed some of its rivals. Even though splitting the projects into two stages could add an additional four years to the original schedule, the project will likely become easier to manage and less susceptible to changes in the refining market, according to an Irving spokesperson.
  • Vulcan Minerals is planning a significant drilling program in 2009 to occur in the onshore Bay St. George Basin in Western Newfoundland. This will be financed by way of a joint venture with Investcan Energy. Robinson #1 has been selected as the site for the deepest well ever drilled in the Bay St. George Basin. Commencement of drilling is expected to begin in the winter or spring.
  • Corridor Resources announced that it has made a potentially significant oil discovery at one of its wells situated three kilometres southeast of the McCully natural gas field in southern New Brunswick. After completing the initial interpretation of the new seismic in early 2009, Corridor is planning to drill an offset well to begin appraising the discovery. The oil discovery has been termed the 'Caledonia'.
  • Husky Energy added to its list of exploration properties in the Atlantic by submitting a winning bid of $1.8 million on an exploration parcel in the untapped Sydney Basin, south of the south-western tip of Newfoundland.