Emerald Oil -- Yahoo!In-Play; Update; Acquires 4,500 Net Acres; $3,200/Acre;

VOG is now merged with Emerald Oil and operating under Emerald Oil.

Emerald Oil announces that it has commenced a public offering of 82,000,000 shares of its common stock (EOX): Co announces that it has commenced a public offering of 82,000,000 shares of its common stock. 

Separately:

Emerald Oil announces McKenzie County, North Dakota, operated acreage acquisition and reserve report update (EOX): Co announces it entered into a definitive agreement on September 6, 2012 to acquire approximately 4,500 net operated acres in McKenzie County, North Dakota, which the Company expects to close early in the fourth quarter of 2012. The Company has agreed to pay approximately $14.3 million in cash for this acreage, or approximately $3,200 per net operated acre. The average working interest on this acreage is greater than 60%. As part of the transaction, the Company will also acquire a recently constructed well pad and tank battery at an additional cost of $1.3 million in cash. These drilling and production facilities will allow the Company to drill some of its first operated wells on the acreage. From this well pad, the Company anticipates being able to hold by production three of the approximately nine operated drilling spacing units. Recently, certain offset operators to this acreage have announced wells that have had initial 24-hour production rates of over 3,000 barrels of oil equivalent per day (Boe/d). The initial 24-hour production rates achieved by others may not be indicative of the results the Company achieves from its wells.  [Note for newbies: boepd includes natural gas; a) natural gas tends to decline very, very quickly; and, b) it's not worth that much compared to oil, though wet natural gas is significantly better than dry. Bottom line: the boepd matters less to me than the bopd (oil only).]

June 30, 2012 Estimated Proved Reserves: Emerald recently commissioned a reserve audit by Netherland, Sewell & Associates, on the Company's oil and gas reserves as of June 30, 2012. The results of this audit illustrate the reserve growth Emerald experienced during the first half of 2012 from total estimated proved reserves of approximately 3.5 million Boe with a PV-10 value of approximately $59.6 million at December 31, 2011, to approximately 4.6 million Boe with a PV-10 value of approximately $83.2 million at June 30, 2012.

As of September 4,2012:

DENVER, CO--(Marketwire -09/04/12)- Effective today, Voyager Oil & Gas, Inc. (VOG) ("Voyager"), will be conducting business under the name Emerald Oil, Inc. (EOX). Also effective today, the common shares of the Company will be trading on the NYSE MKT under the EOX symbol.