The Canadian government announced last Thursday that Sinoenergy Corporation will be investing $500 million (CAD) into Long Run Exploration over the next two years.
Sinoenergy Corporation purchased Long Run Exploration June 29, 2016. Sinoenergy also owns New Star Energy which it purchased in July 2015.
Here is the announcement from the Government of Canada:
A commitment from Sinoenergy Corporation Ltd. to support operations of the Long Run Exploration Ltd. facility in Alberta, an intermediate oil and natural gas company focused on development and exploration in Western Canada, by the injection of an additional C$500 million over the next two years.
