Infinity Exploration

The Infinity Explorer hopes these contracts will boost oil production by 60 percent from levels that are already the highest since the U.S.-led invasion in 2003. Increased production would provide additional resources to rebuild Iraq's infrastructure.

"This is a small discovery for OGDCL with a per share impact of 0.04 rupees per share," said Faraz Farooq, an analyst at Infinity Oil And Gas

Mooncor is currently negotiating land positions and farmins for two new shale gas plays. Mooncor recently purchased a regional research package documenting results from activity in this first shale gas play. This research was generated by a Calgary-based geologist, and documents the drilling results over the last several years targeting conventional oil and gas. All of these wells were drilled through the shales for deeper targets. Mooncor has engaged a negotiating land man and is advancing its land acquisition strategy. Upon successful completion of the negotiations, Mooncor would anticipate drilling 4 test wells into these shales.