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DeeThree Exploration Announces Completion of $30 Million Prospectus Offering

CALGARY, ALBERTA--(Marketwire - Feb. 19, 2013) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES DeeThree Exploration Ltd. ("DeeThree" or the "Corporation") (DTX.TO) (DTHRF) is pleased to announce that it has completed its previously announced short form prospectus offering (the "Offering"), raising gross proceeds of $30,056,000. The Offering was co-led by Macquarie Capital Markets Canada Ltd. (sole book runner), Raymond James Ltd. and [Read more]

Lone Pine Resources Announces Non-Core Asset Disposition and Fourth Quarter & Full Year 2012 Earnings Release Date

CALGARY, ALBERTA--(Marketwire - Feb 19, 2013) - Lone Pine Resources Inc. ("Lone Pine" or the "Company") (LPR.TO) announces that its wholly owned subsidiary, Lone Pine Resources Canada Ltd., has entered into a definitive agreement with a private oil and gas company to divest of certain non-core assets in the Herronton area of Alberta for total gross cash proceeds of $14.0 million, subject to normal course closing adjustments. Details of the assets to be sold are as follows: Estimated [Read more]

AvenEx Energy, Pace Oil & Gas and Charger Energy Postpone Special Meetings of Shareholders to February 26, 2013

CALGARY, ALBERTA--(Marketwire - Feb. 19, 2013) - 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. AvenEx Energy Corp. ("AvenEx") (AVF.TO), Pace Oil & Gas Ltd. ("Pace") (PCE.TO), and Charger Energy Corp. ("Charger") (TSX VENTURE:CHX) announce that the special meetings of the shareholders of each of AvenEx, Pace and Charger scheduled for February 19, [Read more]

Drilling for oil: 1956 documentary shows enhanced recovery and horizontal drilling used nearly 60 years ago

An educational documentary from 1956's Science in Action series titled Drilling for Oil shows that many of the techniques used today in exploring and drilling for oil and gas are still very comparable to the techniques used in the 1950's. The show focuses on a discussion between the series' host and a guest expert in the oil and gas industry. The expert demonstrated enhanced oil recovery using water and gas injection (at the video's 13:15 mark) and horizontal drilling to target oil pools [Read more]

Canada rig count up from last week

[table] [attr style="width: 20%"]`[attr style="width: 35%"]`[attr style="width: 15%"]Oil`[attr style="width: 15%"]Gas`[attr style="width: 15%"]Total [attr rowspan="5" style="background-color: #E0E0E0; text-align: center; vertical-align: middle;"]Canada`This Week`500`151`651 Last Week`480`151`631 Last Year`516`189`705 Week over Week Change`+20`+0`+20 Year over Year Change`-16`-38`-54[/table] [table] [attr style="width: 20%"]`[attr style="width: 35%"]`[attr style="width: 15%"]Oil`[attr [Read more]

Storm Resources Ltd. Announces Closing of Asset Disposition

CALGARY, ALBERTA--(Marketwire - Feb 15, 2013) - STORM RESOURCES LTD. ("Storm") (TSX VENTURE:SRX) advises that the disposition of 275 Boe per day of production in the Grande Prairie area of northwest Alberta, as announced on January 23, 2013, has closed. Proceeds from the disposition of $18 million, prior to normal adjustments, will be applied in reduction of bank debt. Pro forma net debt at December 31, 2012 is estimated to be $24 million after giving effect to this disposition and a smaller [Read more]

US Oil prices fall over $2 on weak European economic data

By Canadian Press/BOE Report Oil prices fell below $96 after disappointing European economic figures highlighted the region's parlous growth outlook. Figures Thursday showed economic output in Germany, Europe's biggest economy, contracted by more than anticipated in the last three months of 2012. And France, Europe's second-biggest economy, also saw output drop. As a result, the recession across the 17 European Union countries that use the euro deepened during the quarter. Caroline [Read more]

AvenEx Energy Corp. Closes Sale of Elbow River Marketing Business

CALGARY, ALBERTA--(Marketwire - Feb. 15, 2013) - AvenEx Energy Corp. ("AvenEx") (AVF.TO) is pleased to announce that it has completed its previously announced sale of the assets of Elbow River Marketing Limited Partnership ("Elbow River") to a wholly owned subsidiary of Parkland Fuel Corporation ("Parkland") (PKI.TO) for Cdn.$80 million, subject to final closing adjustments. An electronic copy of this press release may be obtained on AvenEx's SEDAR profile at www.sedar.com. AvenEx was [Read more]

Enbridge, Energy Partners outline plan for shipping more crude to Gulf Coast

  CALGARY - Enbridge Inc. (TSX:ENB.TO) and a partner are planning to convert some of their natural gas capacity to ship crude oil from a pipeline hub in Illinois to refineries in the eastern Gulf Coast refinery market. The Calgary-based pipeline company and Energy Transfer Partners would each own 50 per cent of the joint venture, which they expect to be in service by 2015. The plan requires U.S. regulatory approvals and Enbridge says its participation will depend on getting a [Read more]

Keyera posts $56.7 million profit in fourth quarter, reversing year-earlier loss

  CALGARY - Midstream natural gas company Keyera Corp. (TSX:KEY.TO - News) posted a $56.7 million profit during the last three months of 2012, turning around a year-earlier loss. The net income amounted to 73 cents per share, compared to a loss of $21.2 million, or 30 cents per share, during the fourth quarter of 2011, Calgary-based Keyera said Thursday. Distributable cash flow was $74.4 million, or 96 cents per share, up from $51.2 million, or 72 cents per share. Capital [Read more]