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Highlights of Saskatchewan provincial budget include $64.8 million surplus, increased tobacco tax

  REGINA - Highlights of the Saskatchewan budget tabled Wednesday: A balanced budget with $11.61 billion in revenue and $11.54 billion in spending, leaving a surplus of $64.8 million. Overall budget spending increased by 3.1 per cent. Tobacco tax increase of four cents per cigarette to 25 cents a cigarette to bring in $47.5 million. An increase of about three per cent on alcohol to collect an additional $10 million. Universities and regional colleges get a 2.1 per cent [Read more]

Crude stocks finally decrease

After 10 straight weeks of crude stocks building, U.S. commercial crude oil inventories decreased by 1.3 million barrels from the previous week compared to the expected increase of ~2 million barrels. Total crude oil stocks of 382.7 million barrels are well above the upper limit of the average range for this time of year. Total commercial petroleum inventories decreased by 1.5 million barrels last week. [table] [attr style="width: 25%"]March 15`[attr style="width: 25%"]March 8`[attr [Read more]

First Nations groups: We’re going to stop these pipelines ONE WAY OR ANOTHER

  An alliance of First Nations leaders is preparing to fight proposed new pipelines both in the courts and through unspecified direct action. Native leaders from both Canada and the United States were on Parliament Hill on Wednesday to underline their opposition to both the Northern Gateway and Keystone XL pipelines. The first would tie the Alberta oilsands to the West Coast, while the second would send bitumen to refineries on the American Gulf Coast. Some of the chiefs brushed [Read more]

Shoreline Energy Corporation Announces Record Reserves and 71% Increase in Reserves Value

CALGARY, ALBERTA--(Marketwire - Mar 20, 2013) - Shoreline Energy Corp. (SEQ.TO) ("Shoreline" or the "Company") is pleased to announce record reserves and reserves value growth, as per its 2012 year end reserves evaluation conducted by GLJ Petroleum Consultants Ltd. ("GLJ") for its Canadian assets, and DeGolyer and McNaughton ("DM") for its United States assets, in accordance with National Instrument 51-101 ("NI 51-101"). Reserves estimates and other oil and gas information have an effective [Read more]

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]