CALGARY, ALBERTA and HONG KONG, CHINA--(Marketwired - Aug. 28, 2017) - The Board of Directors of Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKSE:2012) wishes to clarify and supplement the announcement dated August 24, 2017 (Hong Kong time) in relation to the lapse of Subscription Agreement: Reference is made to the announcement of the Corporation dated August 24, 2017 (Hong Kong time) (the "Announcement"), in relation to, among other matters, the proposed issue of new [Read more]
Archives for August 2017
Trump renews threat to scrap NAFTA going into next round of talks
U.S. President Donald Trump renewed his threat to scrap NAFTA and ripped on trading partners Canada and Mexico in a tweet early on Sunday, days before the three countries were scheduled to hold a second round of negotiations on rewriting the 23-year-old agreement. "We are in the NAFTA (worst trade deal ever made) renegotiation process with Mexico & Canada. Both being very difficult, may have to terminate?" he wrote. In a separate Sunday morning tweet, Trump repeated his pledge that [Read more]
U.S. drillers cut oil rigs ahead of Hurricane Harvey – Baker Hughes
U.S. energy firms cut oil rigs for a second week in a row ahead of Hurricane Harvey and as a more than year-long recovery in drilling slows down in reaction to soft crude prices. Drillers cut four oil rigs in the week to Aug. 25, bringing the total count down to 759, General Electric Co's Baker Hughes energy services firm said in its report on Friday. That compares with 406 active oil rigs during the same week a year ago. Drillers have added rigs in 56 of the past 65 weeks since the start [Read more]
Canada Weekly Rig Count Up 3 to 217
Western Canada’s fleet of drilling rigs increased to 217 actively drilling rigs according to data collected by Baker Hughes for the week of August 25th. From one week ago, Alberta rig counts increased to 144 rigs from 138, the Saskatchewan rig count decreased to 38 from 43. Oil drilling decreased to 115 rigs from 121; gas rigs increased from 93 to 102. View a full breakdown of western Canada’s rig activity. [Read more]
Groundstar Resources Limited Announces Loan Transaction
CALGARY, Alberta, Aug. 25, 2017 (GLOBE NEWSWIRE) -- Groundstar Resources Limited (TSXV:GSA) (the “Company”) is pleased to announce that it has executed a loan agreement (the “Loan Agreement”) with a private Alberta-based lender (the “Lender”) which will provide for the Company to borrow an amount of up to CDN$100,000 to fund its general working capital requirements and to further operations on its properties. The Loan Agreement provides that the funds advanced shall be repayable over a term of [Read more]
Midstates Petroleum Extends Jake Brace’s Employment Agreement to Include Transition Period
TULSA, Okla.--(BUSINESS WIRE)--Midstates Petroleum Company, Inc. (NYSE: MPO) (“Midstates” or the “Company”) today announced that the Board of Directors has entered into an amendment to its executive employment agreement with Frederic F. (Jake) Brace, Midstates’ current President and Chief Executive Officer. The amendment extends the term of the agreement from its current termination date of October 21, 2017 until April 21, 2018 and revises the duties of [Read more]
Troy Energy Corp. Announces Closing of Agreement to Acquire Mining Properties
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 25, 2017) - Troy Energy Corp. (NEX:TEG.H)(the "Corporation" or "Troy") announces that it has closed its previously announced transaction with BEC International Corp. ("BEC") (see press release dated July 18, 2017) in respect of the acquisition of three mining leases situated in the Yellowknife Gold Belt, together with seven mineral claims adjoining and contiguous with such leases. The leases and claims combined cover an area of approximately 3,231 [Read more]
US rig count decreases by 6 this week to 940
HOUSTON - The number of rigs exploring for oil and natural gas in the U.S. decreased by six this week to 940. A year ago, just 489 rigs were active. Houston oilfield services company Baker Hughes said Friday that 759 rigs sought oil and 180 explored for natural gas this week. One was listed as miscellaneous. Among major oil- and gas-producing states, Louisiana, North Dakota and Ohio each added one rig. Pennsylvania and Texas each lost three rigs. Alaska, Oklahoma [Read more]
BHP explores $2 bln stake sale in Canada potash mine -sources
Anglo-Australian mining giant BHP Billiton Ltd is considering selling a 25 percent interest in its Canadian potash mine project, a stake that could be worth close to $2 billion, people familiar with the matter told Reuters. The move comes as activist investor Elliott Management Corp has been pushing the company for changes. BHP is working with an investment bank for the potential stake sale in its partly built Jansen, Saskatchewan potash project, the sources said this week. For BHP, the move [Read more]
Frontera Energy facing Indigenous action in Peru over government consultations
CALGARY - Frontera Energy Corp. (TSX: FEC) says Indigenous communities in Peru are protesting at its operations in an effort to secure negotiations with the Peruvian Government. The Toronto-headquartered company said the communities are pushing to have laws respected that require the government to consult with Indigenous people before signing resource contracts. "The Indigenous communities are making a presence in one portion of the facilities as a request to negotiate with the [Read more]
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