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Mon Dec 19, 2005
Name Change and Consolidation
Vancouver, BC -- MPH Ventures Corp. (TSX.V: MPS) [formerly ITL Capital Corporation] is pleased to announce that pursuant to a special resolution passed by shareholders September 15, 2005, that ITL Capital Corporation has consolidated its capital on a 5 old for 1 new basis.
The name of the Company has also been changed as follows.
Effective at the opening December 19, 2005, the common shares of MPH Ventures Corp. have commenced trading on TSX Venture Exchange, and the common shares... (1 KB) |
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Mon Dec 12, 2005
Production To Sales From Stewart #1 Well By Month's End
Vancouver, BC -- ITL Capital Corporation (TSX.V: ICL) is pleased to announce that Horizon Industries Ltd., operator of the Stewart Gas Project in Texas, has announced that tie-in procedures are underway at the Stewart #1 well located in Goliad County.
The Company has received confirmation that the well's expected tie in to sales is to occur by month's end. Based on the four point flow test conducted last week, extrapolated flow on a ¼" choke is projected to be 1.53 MMCF per day. Anticipated... (2 KB) |
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Fri Dec 9, 2005
Successful Flow Test On Stewart #1 Gas Well, Texas
Vancouver, BC -- ITL Capital Corporation (TSX.V: ICL) is pleased to announce that Horizon Industries Ltd., operator of the Stewart Gas Project in Texas, has announced results of flow tests conducted on the Stewart #1 well located in Goliad County.
The most prospective 40-foot zone in the Middle Yegua formation was perforated at 5,350'. The well came on immediately and began to unload KCl fluid. On a 7/64 choke, the well unloaded all fluid while flowing at a rate of approximately 450 -- 500 ... (2 KB) |
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Wed Nov 30, 2005
Flow Test To Commence On Stewart #1 Well, Texas
ITL Capital Corporation announces that Horizon Industries Ltd., operator of the Stewart Gas Project, has reported that a service rig is arriving on-site today. Flow testing of the Stewart No. 1 well is scheduled to occur over the next several days.
Logs indicate four potential pay zones, totalling 91 feet of gross sands, with the best zone being 40 feet in the middle Yegua formation. Perforation and flow testing will be designed to test production from the middle Yegua formation, with the obj... (2 KB) |
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Wed Nov 23, 2005
ITL Capital Provides Corporate Update
ITL Capital Corporation announces an update on the Henry Dome gas well located in McMullen County, Texas. To date, the well has had difficulties achieving the anticipated flow rates that the Company had expected. The well is currently hooked up to sales and is producing at a rate far less than was hoped for. ITL Capital is expecting a cash call in the near future to cover the cost of all outstanding expenditures that were incurred to solve the problems and bring the well to production as well... (2 KB) |
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Mon Nov 14, 2005
Completion Underway On Stewart #1 Well, Texas
Vancouver, BC -- ITL Capital Corporation is pleased to report that Horizon Industries Ltd. (operator of the Stewart Gas Project, Texas) has announced that drilling of the Stewart #1 well was completed on Saturday November 12th. Logs and sidewall core samples were taken over the balance of the weekend. As a result of the data, Horizon has elected to proceed with completion operations.
The logs indicate four potential pay zones totaling 91 feet of gross sands with the best zone being 40 feet in... (2 KB) |
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Mon Nov 7, 2005
DRILLING BEGINS ON STEWART GAS PROSPECT, TEXAS
ITL Capital is pleased to report that Horizon Industries Ltd. (the operator) has received confirmation from Arrow Drilling that the Stewart East natural gas prospect was spudded on November 5. The drill rig is currently drilling at 2,409 feet. Total depth on the Stewart East well is expected to be 5,700 feet with a Middle Yegua Sands target. ITL Capital has a 5% working interest in the Stewart property.
As previously announced, the 544-acre Stewart Property is located in Goliad County, Texas,... (2 KB) |
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Fri Nov 4, 2005
DRILLING RIG MOBILIZED TO STEWART GAS PROSPECT, TEXAS
ITL Capital is pleased to report that Horizon Industries Ltd. (operator) has received confirmation that the drilling rig was mobilized to the Stewart East prospect yesterday, Nov. 3. Rigging up is under way and it is anticipated that the well will spud within the next several days.
As previously announced, the 544-acre Stewart Property is located in Goliad County, Texas, within the Jobar field. In late 1997, Edge Petroleum discovered the Jobar field, with production from the middle Yegua form... (2 KB) |
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Wed Nov 2, 2005
NEW DIRECTOR APPOINTED
ITL Capital Corporation (the "Company") is pleased to announce that Amanda Chow has consented to act as a Director of the Company. Ms. Chow is a certified management accountant (CMA) and has worked with public companies during the last five years. The appointment to the Board of Directors is subject to the acceptance of the TSX Venture Exchange. The Company announces that Derek Huston has resigned as a Director of the Company.
ITL Capital Corporation is a natural resource exploration compa... (1 KB) |
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Mon Oct 3, 2005
New Director Appointed and Special Resolutions Passed At AGM
The Board of Directors of ITL Capital Corporation announces that the Company held its annual and special general meeting on September 28, 2005. The Company is pleased to announce that Mr. Donald G. Myers was appointed to the Board of Directors at the meeting.
ITL Capital Corporation also reports that the shareholders approved a special resolution to consolidate the issued and outstanding shares of the Company on a five (5) old for one (1) new basis. The proposed share consolidation will r... (2 KB) |
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Thu Sep 8, 2005
Site Preparation Now Complete At Stewart, Mobilization of Drill Rig Imminent
ITL Capital Corporation is pleased to report that Horizon Industries Ltd., operator of the Stewart Gas Project, Goliad County, Texas, announces that they have received confirmation that site preparation is now completed at the Stewart Property. The Company has also received confirmation that the property is next in line for the appointed drilling rig. Mobilization of the drilling rig is expected to occur by September 15th.
As previously announced, the 544-acre Stewart Property is located i... (2 KB) |
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Fri Sep 2, 2005
Shareholders will be asked to approve a consolidation on a 1 new share for each 5 old shares
The Company has convened an Annual and Special General Meeting to be held September 28, 2005. At the meeting, the shareholders will be asked to approve a consolidation of the Company's share capital on the basis of one new share for each five old shares. The issued capital of the Company is currently 38,018,115, which will become 7,603,623 after the consolidation.
The consolidation is proposed to assist the Company in further acquisitions and raising future equity financing and if approved w... (2 KB) |
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Wed Aug 17, 2005
Henry Dome Gas Project Update, McMullen County, Texas
ITL Capital Corporation is pleased to announce that Dolphin Petroleum L.P., the operator of the Henry Dome Gas Project, located in McMullen County, southeast Texas, plans to start putting in the permanent well site flare this week and have Halliburton Energy Services on the JB Henry #1 well site by Thursday Aug. 25th of next week to commence the cleanout. As previously reported, the JB Henry #1 well was a producing vertical gas well that has been re-completed as a horizontal well.
ITL Capital... (2 KB) |
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Wed Aug 10, 2005
Interest In Stewart Natural Gas Project, Texas, Acquired By ITL Capital
ITL Capital Corporation is pleased to announce that it has acquired a 5% working interest (3.75% net revenue) from Horizon Industries Ltd. (Horizon) (TSX.V: HRZ), operator of the Stewart Natural Gas Project located in Goliad County, south Texas. The acquisition of an interest in the Stewart Gas Project complements ITL Capital's interest in the Henry Dome Gas Project, also located in south Texas.
The Stewart Gas Project is a 544-acre lease package located within the Jobar Gas Field. In late 1... (2 KB) |
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Thu May 19, 2005
JB Henry #1 Gas Well Update, McMullen County, Texas - Bonus Shares Issued
ITL Capital Corporation is pleased to provide an update to the JB Henry #1 horizontal gas well located in McMullen County, southeast Texas. As mentioned in the Company's News Release dated April 21st, Dolphin Petroleum L.P., the operator, sent samples of well sediment to both Halliburton Energy Services and Schlumberger Oilfield Services to recommend a solution to the bridging issue in the horizontal section that causes the flow rate to taper off. Both Halliburton and Schlumberger have recommend... (2 KB) |
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Thu Apr 21, 2005
Loan Agreement, Officer Appointed
The Company wishes to announce that it has entered into a loan agreement with a lender for interim bridge financing in the amount of $150,000 with interest thereon at a rate of 9% per annum plus a bonus of the maximum number of shares permitted to be granted to the Lender under the policies of the TSX Venture Exchange, subject to regulatory approval. The proceeds of the loan will be utilized for general working capital and to fund further review/participation in oil and gas projects.
The Com... (2 KB) |
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Thu Apr 21, 2005
Update On JB Henry #1 Gas Well, Texas
Further to the Company's News Release on March 31st, ITL Capital Corporation is pleased to provide an update to the JB Henry #1 gas well located in McMullen County, southeast Texas. The JB Henry #1 well was a producing vertical gas well that has been re-completed as a horizontal well. As previously reported, the re-entry horizontal drilling operation was completed at the end of March.
During cleanup operations the estimated well flow rate, on open choke, was in excess of 5 million cubic feet... (2 KB) |
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Tue Apr 5, 2005
Private Placement -- Second & Final Tranche Closes
ITL Capital Corporation announces that it has completed its second and final closing of its non-brokered private placement announced by news release dated February 7, 2005. The Company issued 1,000,000 units at a price of $0.05 per unit. Each unit consists of one share and one share purchase warrant which entitles the holder to purchase an additional share of the Company at a price of $0.10 until March 31, 2006. The shares and any shares to be issued upon exercise of the warrants will be subject... (1 KB) |
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Thu Mar 31, 2005
Drilling Completed On JB Henry #1 Gas Well, Flow Rates To Follow
ITL Capital Corporation is pleased to report that reentry-drilling operations have been completed on the JB Henry #1 horizontal gas well located in McMullen County, southeast Texas. Drilling was stopped after completing 1200 feet of the 1500-foot lateral portion of the well due to complications in the hole. Despite the complication, it is anticipated that the Company should have a successful gas well as a result of drilling through several cross fractures as anticipated. The well was drilled lat... (2 KB) |
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Mon Mar 14, 2005
Drilling Begins On JB Henry #1 Gas Well, Texas
ITL Capital Corporation has received an update from Dolphin Petroleum L.P. (Dolphin), operator of the Henry Dome natural gas project located in McMullen County, Texas. After a several week delay due to weather in the surrounding areas, the drilling rig arrived at the JB Henry #1 well location on March 4th. Once on site the crew was faced with several more rain related delays during rig up. At this time, the drilling rig has rigged up, and drilling has now commenced. Drilling operations should ta... (2 KB) |
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Tue Mar 1, 2005
Private Placement -- First Tranche Closes
The Company announces that it has completed a first tranche closing of its 5,000,000 Unit non-brokered private placement announced by news release dated February 7, 2005. The Company issued 1,150,000 units at a price of $0.05 per unit. Each unit consists of one share and one share purchase warrant which entitles the holder to purchase an additional share of the Company at a price of $0.10 until February 21, 2006. The shares and any shares to be issued upon exercise of the warrants will be subjec... (1 KB) |
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Mon Feb 14, 2005
Incentive Stock Options Granted
ITL Capital Corporation would like to announce that pursuant to its stock option plan, the Company has granted incentive stock options to its various directors, officers and consultants to purchase up to an aggregate of 1,867,000 common shares in the capital stock of the Company, exercisable for a period of two years, at a price of $0.10 per share. The shareholders approved the Company's stock option plan at the Annual and Extraordinary General Meeting of the Company held on August 18, 2004. The... (1 KB) |
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Thu Feb 10, 2005
Workover Operation Completed On JB Henry #1 Gas Well, Drilling Operations To Begin In Texas
ITL Capital Corporation has been provided with an update on the re-completion operations on the JB Henry #1 natural gas well located in McMullen County, Texas. Dolphin Petroleum L.P. (owner-operator) reports that the first phase workover operation was completed on February 9th, 2005. The existing tubing and packer were removed from the well and a cast iron bridge plug was set above the existing Edwards formation. As reported by Dolphin Petroleum L.P., most of the risk in this project was mechani... (2 KB) |
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Mon Feb 7, 2005
Non-Brokered Private Placement Announced
The Board of Directors wish to announce non-brokered private placement of up to 5,000,000 Units at an offering price of $0.05 per Unit. Each Unit will consist of one Share and One Share Purchase Warrant entitling the holder to purchase an additional common share at a price of $0.10 for a period of one year. A finder's fee in the maximum amount allowable will be paid in connection with this private placement offering.
The Company intends to utilize the proceeds from the private placement for g... (1 KB) |
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