CALGARY, ALBERTA--(Marketwired - Nov. 30, 2016) - Petrocapita Income Trust (CSE:PCE.UN)(CSE:PCE.UN.CN) ("Petrocapita" or the "Trust") announces that it has acquired approximately 79% of the issued and outstanding shares of Crucible Resources Corp. ("Crucible") as at November 30, 2016. A special meeting of the shareholders of Crucible has been called for December 21, 2016 to approve an amalgamation of Crucible with a subsidiary of the Trust to acquire the balance. The effective date of the [Read more]
Archives for November 2016
Trudeau’s pipeline approvals complicate math of cutting Canada’s GHG emissions
OTTAWA - Prime Minister Justin Trudeau announced the approval this week of two major oil pipeline expansions, insisting all the while that the new fossil fuel infrastructure fits within his Liberal government's plan to reduce greenhouse gas emissions. Environmental advocates immediately called the approvals a betrayal, but a series of government climate policy moves this year suggest Canada's emissions should come down — although whether it will be enough to meet the country's 2030 [Read more]
Bitumen knowledge gaps too great to assess risk of ocean spill: study
Not enough is known about the impact oilsands bitumen could have on ocean plants and animals to assess the risks of moving it through marine environments, according to a new study. "Basic information is lacking or unavailable for several key sources of stress and disturbance, making it impossible to carry out a complete risk assessment," said the paper, which draws its conclusion from an examination of more than 9,000 papers on oil and the environment. The paper has been peer [Read more]
Tervita’s Stakeholders Approve Recapitalization Transaction
CALGARY, ALBERTA--(Marketwired - Nov. 30, 2016) - Tervita Corporation and certain of its affiliates ("Tervita" or the "Company") are pleased to announce that, at the previously announced: (i) meeting of holders of the 9.75% senior unsecured notes issued by Tervita due November 2019 and holders of the 10.875% senior unsecured notes issued by Tervita due February 2018 (collectively, the "Unsecured Notes", and the holders of such Unsecured Notes, the "Unsecured Noteholders"); (ii) meeting of [Read more]
Alberta’s Notley to head to B.C. to sell merits of Trans Mountain pipeline
EDMONTON - Alberta Premier Rachel Notley says she will head to British Columbia as early as next week to make the case for Kinder Morgan's Trans Mountain pipeline expansion. "It's really important for me to be able to go out there and say to those people who link the pipeline to the issue of climate change and an increase in greenhouse gas emissions that, in fact, our climate change leadership plan has very effectively delinked those issues," Notley said Wednesday in a conference call [Read more]
Natural Resources Minister Carr kicks off pipeline sales mission in Calgary
CALGARY - Federal Natural Resources Minister Jim Carr kicked off his pipeline sales mission on friendly turf Wednesday, addressing Calgary's Chamber on the importance of the two major projects the Trudeau government approved a day earlier. "Our announcement on pipelines brings much needed new hope to thousands of hardworking Albertans in the energy sector — a sector that has suffered so much over the past years," said Carr. He framed the approval of the Kinder Morgan Trans [Read more]
Altura Energy Inc. Announces Grant of Stock Options
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./ CALGARY, Nov. 30, 2016 /CNW/ - Altura Energy Inc. ("Altura" or the "Corporation") (TSX Venture: ATU) announces that in accordance with its long-term compensation policy which includes an annual grant of stock options ("Options") to its employees, officers and directors, Altura's Board of Directors has [Read more]
B.C. Premier Christy Clark’s five conditions for pipeline approval
VANCOUVER - British Columbia Premier Christy Clark said Wednesday the federal government is "very close" to meeting her five conditions for pipeline approval. The premier said all but two of the conditions have been met: a "world-class" marine spill response regime and economic benefits to B.C. She made the comments a day after Prime Minister Justin Trudeau announced the federal cabinet had approved Kinder Morgan Canada's Trans Mountain pipeline expansion. The project would triple the [Read more]
Zargon Oil & Gas Ltd. Announces Hedging of 650 bbl/d of Oil and Appointment of Interim Chief Financial Officer
CALGARY, ALBERTA--(Marketwired - Nov. 30, 2016) - Zargon Oil & Gas Ltd. (TSX:ZAR) (TSX:ZAR.DB) ("Zargon") announces that it has entered into hedges to fix the WTI price of oil on 650 barrels per day of oil production at an average of $66.98 in Canadian dollars for 2017. Zargon also announces the appointment of Bill Cromb as Interim Chief Financial Officer. Bill is an experienced financial executive with over 30 years of varied finance experience in the oil and gas industry. He is a [Read more]
Kinder Morgan asks opponents of Trans Mountain expansion to be ‘respectful’
CALGARY - The president of Kinder Morgan Canada issued a plea to opponents of its Trans Mountain pipeline expansion on Wednesday to be "lawful and respectful" as they protest the project which secured federal approval the day before. But Ian Anderson also conceded that protesters marching or filing legal challenges aren't the only hurdles facing the $6.8-billion project. "We've got a lot of work ahead of us and we're looking forward to getting from 'yes' to starting to build," he [Read more]
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