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Strategic Oil & Gas Ltd. Closes Financing

CALGARY, ALBERTA--(Marketwire - Mar 20, 2013) - Strategic Oil & Gas Ltd. (the "Company") (TSX VENTURE:SOG) is pleased to announce that its previously announced non-brokered private placement of 12.0 million common shares at a price of $1.25 per common share for gross proceeds of $15.0 million has been increased. The Company has issued 23.2 million common shares at a price of $1.25 per common share for gross proceeds of $29.0 million or net proceeds of $28.3 million after deducting [Read more]

Pace Oil & Gas Ltd. Provides Strategic Update and Confirms Recommendation to Vote in Favour of Proposed Spyglass Plan of Arrangement

CALGARY, ALBERTA--(Marketwire - March 19, 2013) - Pace Oil & Gas Ltd. ("Pace", the "Company") (PCE.TO) continues to believe that the proposed merger with AvenEx Energy Corp. ("AvenEx") and Charger Energy Corp. ("Charger") to form Spyglass Resources Corp. ("Spyglass") (the "Merger") is in the best interest of Pace shareholders and recommends that Pace shareholders vote FOR the arrangement. Pace, AvenEx and Charger also announce that they have agreed to set the initial Spyglass monthly [Read more]

Charger Energy Corp. Confirms Recommendation to Vote In Favour of the Proposed Spyglass Plan of Arrangement

CALGARY, ALBERTA--(Marketwire - March 19, 2013) - Charger Energy Corp. ("Charger") (TSX VENTURE:CHX) continues to believe that the proposed merger with Pace Oil and Gas Ltd. ("Pace") and AvenEx Energy Corp. ("AvenEx") to form Spyglass Resources Corp. ("Spyglass") (the "Merger") is in the best interest of Charger shareholders and recommends that Charger shareholders vote FOR the arrangement. Pace, AvenEx and Charger also announce that they have agreed to set the initial Spyglass monthly [Read more]

German scientists quit oilsands research over heated public climate concerns

  EDMONTON -- Pressure over environmental concerns has forced Germany's largest scientific organization to pull out of joint research with Alberta on better ways to upgrade oilsands bitumen. German scientists with the Helmholtz-Alberta Initiative will no longer work on such projects, said Bernd Schneider, lead scientific co-ordinator. "This bitumen upgrading will now be quitted," Schneider said from Potsdam, Germany. The initiative was created in 2011 with a five-year, [Read more]

Oil slides as traders watch Europe developments ahead of US crude supplies report

  The price of oil fell slightly Tuesday as traders weighed encouraging housing data against the prospect of rising crude supplies in the United States. Benchmark oil for April delivery fell 27 cents to $93.84 a barrel in midday trading on the New York Mercantile Exchange. Brent crude, used to price many kinds of oil imported by U.S. refineries, dipped 56 cents to $108.95 per barrel on the ICE Futures exchange in London. The Commerce Department said builders broke ground on homes [Read more]

OH! Redford clarifies: not pushing feds to impose national carbon tax

  EDMONTON - Amidst rising rhetoric over the Keystone XL pipeline, Alberta Premier Alison Redford clarified Tuesday that she isn't urging the federal government to impose a national tax on carbon emissions. "I am in no way advocating any sort of a national carbon tax. That's for other governments to decide," Redford said at the legislature. Redford made the comment following a Postmedia news story quoting her talking about such a plan while in Ottawa on Monday. Redford said her [Read more]

Tourmaline Oil Corp. Announces Record Year End 2012 Financial Results

CALGARY, ALBERTA--(Marketwire - March 19, 2013) - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") achieved exceptional growth in reserves (69%), production (64%) and cash flow(1) (16%) in 2012 while delivering strong profitability in a year of significantly lower natural gas prices. The Company posted strong after-tax earnings of $15.5 million for the 2012 fiscal year. Highlights 2012 average production of 50,804 boepd represented a 64% increase over the 2011 average [Read more]

Arsenal Energy Inc. Announces 2012 Fourth Quarter and Year End Results

CALGARY, ALBERTA--(Marketwire - March 19, 2013) - Arsenal Energy Inc. (AEI.TO) (AEYIF) Arsenal is pleased to release its Q4 and full year 2012 financial and operating results. Q4 2012 is highlighted by an 18% increase in cash flow from operations to $10.0 million from $8.4 million generated in Q4 2011. The cash flow increase is primarily due to a 42% increase in light oil production. SUMMARY OF FINANCIAL AND OPERATIONAL RESULTS Three Months Ended December 31 Year Ended [Read more]

Harper names envoy to deal with First Nations concerns on Gateway

  OTTAWA - Prime Minister Stephen Harper has named an envoy to defuse the tension between First Nations and the energy and pipeline industry that threatens his plan to quickly develop Canada's natural resources. Vancouver-based lawyer Doug Eyford will focus on energy infrastructure in Western Canada and submit a preliminary report directly to Harper by the end of June and a final report by the end of November. He is to examine First Nations concerns about the troubled Northern [Read more]

More inspections, tougher pollution penalties for oil tanker traffic

  VANCOUVER - The federal government is announcing changes to improve oil tanker safety to shore up support for controversial oil exports off the British Columbia coast. The changes include annual tanker inspections, increased aerial surveillance and stronger measures for pollution prevention and response at oil handling facilities. Pollution penalties will be extended and Ottawa will create a tanker safety expert panel to review the current regime and make further [Read more]