CALGARY, ALBERTA--(Marketwire - March 26, 2013) - Pace Oil & Gas Ltd. ("Pace") (PCE.TO), AvenEx Energy Corp. ("AvenEx") (AVF.TO) and Charger Energy Corp. ("Charger") (TSX VENTURE:CHX) are pleased to announce that shareholders have approved the previously announced plan of arrangement under the Business Corporations Act (Alberta) (the "Merger"), to form Spyglass Resources Corp (TSX:SGL) ("Spyglass"), an intermediate-sized oil and gas producer with a balanced commodity profile and a monthly [Read more]
Workers halt discharge of water from northern Alberta oilsands pond
FORT MCMURRAY, Alta. - Work is underway to determine the effects of a discharge of water from an outfall pond at a Suncor (TSX:SU.TO) facility in northern Alberta. Alberta Environment says in a release that a leak of what it calls process-affected water happened early Monday at the plant north of Fort McMurray. Details were not immediately available on the volume of water that was released, or what it contains. The department says the discharge was stopped and water samples [Read more]
Encana Amends Its Dividend Reinvestment Plan
CALGARY, ALBERTA--(Marketwire - Mar 25, 2013) - Encana Corporation (ECA.TO) (ECA) ("Encana") today announced that it has amended its Dividend Reinvestment Plan (the "DRIP") to permit the company to issue from its treasury Encana common shares at a discount to the average market price for the common shares (as defined in the DRIP) for the applicable dividend payment date. Beginning in the second quarter of 2013, Encana's Board of Directors has determined that all common shares distributed to [Read more]
TSX closes lower, early enthusiasm for Cypriot bailout deal evaporates
By Malcolm Morrison, The Canadian Press TORONTO - The Toronto stock market closed lower Monday as earlier relief over a bailout deal for Cyprus faded. The S&P/TSX composite index finished the session down 76.64 points to 12,680.71 with smartphone maker BlackBerry also a major weight ahead of its earnings release later in the week. Indexes had been higher earlier in the session after Cyprus clinched a €10-billion bailout from the International Monetary Fund, the European Commission [Read more]
Montclair Energy still looking to buy Equal Energy after $142-million offer
By The Canadian Press CALGARY - Montclair Energy LLC said Monday it was still looking to buy Equal Energy Ltd. (TSX:EQU.TO) after the company rejected a takeover bid worth $142 million. Montclair said it had hoped to reach a negotiated deal, but the Equal board turned down the offer of $4 per share in cash on March 15. "While our goal is to reach a negotiated transaction with Equal Energy, we have determined that Equal Energy shareholders should be informed of our interest in an [Read more]
Equal Energy rejects Montclair Energy buyout offer
NEW YORK (AP) -- Montclair Energy LLC said Monday that Equal Energy's board has rejected its $142.4 million acquisition offer. The $4 per share offer price was a 15 percent premium to Equal Energy Ltd.'s Friday closing price of $3.49. Equal Energy shares rose 29 cents, or 8.3 percent, to $3.78 in midday trading. Over the past year shares of the Canadian oil and natural gas exploration, development and production company have traded between $2.39 and $4.05. Equal Energy Ltd. has about 35.6 [Read more]
Oil rises after European ministers sign off on Cyprus bailout
BANGKOK, Thailand - The price of oil rose above $94 per barrel Monday after European nations agreed on a bailout for Cyprus that tamps down the latest flare-up in Europe's debt crisis. Benchmark crude for May delivery was up 44 cents to US$94.15 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose $1.26, or 1.4 per cent, to close at $93.71 a barrel on Friday. Cyprus secured 10 billion euro ($13 billion) of rescue loans [Read more]
DeeThree Exploration Ltd. Announces 108% Increase in 2012 Year End Reserves and Provides Operational Update
CALGARY, ALBERTA--(Marketwire - March 25, 2013) - DEETHREE EXPLORATION LTD. ("DeeThree" or the "Company") (DTX.TO) (DTHRF) is pleased to provide the following information on its reserves effective as at December 31, 2012, as evaluated by the Company's independent reserve engineering firm, Sproule Associates Limited ("Sproule"). The evaluation of DeeThree's petroleum and natural gas reserves was conducted pursuant to National Instrument 51-101 - Standards of Disclosure for Oil and Gas [Read more]
AltaGas Announces US$515 Million US Power Acquisition and $352 Million Common Share Offering
CALGARY, ALBERTA--(Marketwire - March 25, 2013) - NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AltaGas Ltd. ("AltaGas") (ALA.TO)(ALA-PA.TO)(TSX:ALA.PR.U) announced today that its indirect wholly owned subsidiary AltaGas Power Holdings (U.S.) Inc. has entered into a purchase and sale agreement with affiliates of LS Power Equity Advisors, LLC to acquire Blythe Energy, LLC ("Blythe"), which owns a 507 MW natural gas-fired combined cycle [Read more]
ONE DOWN! U.S. Senate endorses Keystone XL pipeline construction
The Associated Press WASHINGTON — The Senate has endorsed construction of the proposed Keystone XL pipeline that is to carry oil from Canada to Texas oil refineries. Senators voted 62-37 on Friday for the nonbinding measure. Seventeen Democrats and all 45 Republicans voted yes. For four years, environmentalists and others have tried to derail the project, saying extracting the oil from Alberta oilsands would increase global warming. President Barack Obama has thwarted it twice, and [Read more]
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