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Royal Dutch Shell Plc and PetroChina Co.’s A$3.3 billion ($3 billion) bid for Arrow Energy Ltd. may spur more takeovers of Australian producers of coal-bed gas, a growing source of supply for Asian energy importers.

Eastern Star Gas Ltd., a coal-seam gas developer in the Australian state of New South Wales, climbed almost 13 percent to 81 cents in Sydney yesterday after Arrow reported the bid. Bow Energy Ltd. rose 28 percent. Santos Ltd., Australia’s third- largest oil and gas producer, is another potential target, said David Wall, an analyst at Hartleys Ltd. in Perth.

Royal Dutch Shell Plc and PetroChina Co.’s A$3.3 billion ($3 billion) bid for Arrow Energy Ltd. may spur more takeovers of Australian producers of coal-bed gas, a growing source of supply for Asian energy importers.

Eastern Star Gas Ltd., a coal-seam gas developer in the Australian state of New South Wales, climbed almost 13 percent to 81 cents in Sydney yesterday after Arrow reported the bid.

Shares of the following companies may have unusual moves in Canadian trading. Stock symbols are in parentheses.

The...

Decline in oil and natural gas prices , the energy sector decreased demand made a major oil and gas producer revenues in the third quarter decreased sharply.

The price of gasoline and kerosene on 20 May. Community resulted in price increases to protest to the Philippine oil companies, because gasoline and kerosene prices increase was made during Philippine society is facing catastrophe.

Oil and natural gas company Ultra Petroleum Corp reported an adjusted profit in the third quarter that beat estimates, helped by increased production.

For the quarter, loss was $8.3 million, or 6 cents a share, compared with net income of $149 million, or 95 cents a share, a year earlier. Excluding items, the company reported net income of 57 cents a share.

Independent oil and gas producer Berry Petroleum Co (BRY.N) reported better-than-expected third-quarter profit, helped by lower expenses. For the third quarter, the company reported net income of $19 million, or 41 cents a share, compared with net income of $53.3 million, or $1.16 a share, a year ago.

Northern Oil and Gas, Inc. today reported net income of $1,588,246, or $0.04 per share for the quarter ended September 30, 2009.

THIRD QUARTER 2009 HIGHLIGHTS

Northern Oil sold 86,206 barrels of oil and 14.6 mmcf of natural gas during the third quarter of 2009 with oil and natural gas revenues of $5,146,972.