VANCOUVER, June 29, 2016 /CNW/ - Hemisphere Energy Corporation ("Hemisphere" or the "Company") (TSX-V: HME) is pleased to announce the closing of the first tranche of its non-brokered private placement offering (the "Offering"). Hemisphere issued 2,743,000 flow-through shares ("Flow-Through Shares") at a price of $0.21 per share, which were issued on a Canadian Development Expense flow-through basis pursuant to the provisions of the Income Tax Act (Canada), and 2,449,500 common shares of [Read more]
Archives for June 2016
Pine Cliff Energy Ltd. Announces Closing of $25 Million Disposition of Royalty Assets and Update on Bank Redetermination Process
CALGARY, ALBERTA--(Marketwired - June 29, 2016) - Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX:PNE) is pleased to announce that it has closed its previously announced disposition of fee title land and other minor overriding royalty interests for cash consideration of $25 million, prior to any closing adjustments. Pine Cliff also continues its ongoing discussions with its banking syndicate of Canadian Financial Institutions with regard to its borrowing base redetermination. This [Read more]
Manitok Energy Inc. and Raimount Energy Inc. Enter Into Arrangement Agreement and Manitok Energy Inc. Announces Renewed Credit Facility and Non-Brokered Subscription Receipt Private Placement
CALGARY, ALBERTA--(Marketwired - June 29, 2016) - Manitok Energy Inc. ("Manitok") (TSX VENTURE:MEI) and Raimount Energy Inc. ("Raimount") (TSX VENTURE:RMT) are pleased to announce that Manitok and Raimount have entered into an arrangement agreement dated June 29, 2016 (the "Arrangement Agreement") with 1977746 Alberta Inc. ("Acquireco"), being a wholly owned subsidiary of Manitok. Under the terms of the Arrangement Agreement, Manitok will acquire, indirectly through Acquireco, all of the issued [Read more]
Canada Positioned as a Leader in North American Accord on Climate: CAPP
CALGARY, ALBERTA--(Marketwired - June 29, 2016) - Canada is a world leader in innovation and technology in the fight against climate change and has improved its competitive position in North America by committing to the North American Climate, Clean Energy, and Environment Partnership with the United States and Mexico. Canada improved its competitive position by establishing a level playing field on GHG reduction targets with other North American oil and natural gas producers. Canada's [Read more]
Tuscany Announces Receipt of Repayment Demand and Appointment of Receiver
CALGARY, ALBERTA--(Marketwired - June 29, 2016) - Tuscany Energy Ltd. (TSX VENTURE:TUS) ("Tuscany" or the "Company") announces that following extensive discussions with its lender under its credit facility, ATB Financial ("ATB") has demanded repayment of all amounts owing thereunder, being approximately $8.5 million, and delivered a Notice of Intention to Enforce Security under section 244 of the Bankruptcy and Insolvency Act (Canada) (the "BIA") whereby ATB sets forth its intention to enforce [Read more]
Alberta’s Surface Mineable Oil Sands Projects: Recovery Factors That Are Far From Conventional
Fort McMurray has been in the news a lot lately due to the wildfires that ravaged the city and a huge portion of the surrounding area. Prior to that, Fort McMurray would pop up in news articles whenever some celebrity added oil sands development to their environmental crusade and would get up on their soap box without a full understanding of the facts. That being said, it seemed like high time to point out some of the amazing work that is done in oil sands development. For those unfamiliar [Read more]
Depressed oil prices help push Alberta deficit up to $6.4B last fiscal year
EDMONTON - The Alberta government says depressed oil prices and a shrinking economy pushed its deficit up to $6.4 billion last year — $324 million higher than expected. Revenues for the fiscal year that ended March 31 were down more than anticipated due mainly to lower oil revenue and a reduced take in corporate and personal income taxes. The government's annual financial report says Alberta's economy contracted by 3.7 per cent in 2015. Spending increased for health care [Read more]
Spartan Energy Corp. Announces Two Consolidating Southeast Saskatchewan Light Oil Acquisitions and Bank Line Redetermination
CALGARY, ALBERTA--(Marketwired - June 29, 2016) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX:SPE) is pleased to announce that it has entered into definitive agreements to acquire an aggregate of 1,650 boe/d (99% oil) of light oil production in southeast Saskatchewan in two separate transactions for a total aggregate purchase price of $71.7 million. The acquisitions are consistent with Spartan's strategy of capitalizing on its strong financial position during the current period of [Read more]
Toro Oil & Gas Ltd. Announces Closing of $11.3 Million Bought Deal Financing Including Partial Exercise of the Over-Allotment Option for Total Gross Proceeds of $12.6 Million
CALGARY, June 29, 2016 /CNW/ - Toro Oil & Gas Ltd. (TSXV: TOO) ("Toro" or the "Company") is pleased to announce the closing of its previously announced $11.3 million bought deal financing pursuant to a short-form prospectus ("Public Offering") including the partial exercise of the over-allotment option for total gross proceeds of approximately $12.6 million. The Public Offering was led by AltaCorp Capital Inc., and included GMP Securities L.P., Macquarie Capital Markets Canada Ltd., [Read more]
BOE Report Podcast Episode 8
On this episode, the BOE Report team talks about the oil industry fighting back against pipeline and oil and gas opponents, and what the UK leaving the European Union means for the global oil markets. Get episode on Google Play | iTunes | RSS On the Show Terry Etam Adam Jones James Rose Josh Groberman Topics To get pipelines built, industry needs to dust off its boxing gloves How will the Brexit vote affect the oil industry Advertisers Big Bore Directional [Read more]
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