CALGARY, Aug. 30, 2016 /CNW/ - Dear Twin Butte Securityholders, We, the ad hoc committee of unaffiliated senior debentureholders (the "Ad Hoc Group") of Twin Butte Energy Ltd. ("Twin Butte"), wish to update Twin Butte's securityholders concerning recent developments in connection with the proposed restructuring of Twin Butte: Immediately following the special meeting of the Twin Butte securityholders held on August 29, 2016, the Ad Hoc Group presented an alternate restructuring [Read more]
Toro Oil & Gas Ltd reports second quarter 2016 financial and operating results, amended credit facility and corporate update
CALGARY, Aug. 30, 2016 /CNW/ - Toro Oil & Gas Ltd. (TSXV: TOO) ("Toro" or the "Company") announces its financial and operating results for the three and six month period ended June 30, 2016. Selected financial and operational information is set out below and should be read in conjunction with Toro's June 30, 2016 interim financial statements and the related management's discussion and analysis, which are available for review at www.sedar.com or the Company's website at [Read more]
Connacher Announces Q2 2016 Results
CALGARY, Aug. 26, 2016 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") announces its financial and operating results for the three and six months ended June 30, 2016 ("Q2 2016") (all amounts are in Canadian dollars unless otherwise noted). Q2 2016 Highlights Financial Q2 2016 and YTD 2016 revenue, net of royalties, decreased 68% to $22.8 million (Q2 2015 - $71.3 million) and 72% to $34.6 million (YTD 2015 - $125.1 million), respectively, due to the decline in [Read more]
Virginia Hills Oil Corp. Announces Strategic Alternatives Process, Second Quarter of 2016 Results and General Operation Update
TSX Venture Exchange: VHO - CALGARY, Aug. 26, 2016 /CNW/ - Virginia Hills Oil Corp. ("Virginia Hills" or the "Company") announces it has initiated a strategic review process, provides its operating and financial results for the three and six months ended June 30, 2016, and provides a general corporate operational update including the extension of its syndicated debt facility and the successful start of its 2016 drilling program. The Company's unaudited interim financial statements and related [Read more]
Altura Energy Inc. Announces Acquisition of Strategic High Quality Low Decline Oil Assets in East Central Alberta
CALGARY, Aug. 26, 2016 /CNW/ - Altura Energy Inc. ("Altura" or the "Corporation") (TSX Venture: ATU) is pleased to announce it has entered into an agreement to purchase high quality oil assets (the "Assets" or "Acquisition") strategically located in east central Alberta for cash consideration of $4.0 million, subject to customary closing adjustments. The Assets add 125 boe/d of low decline production and include facility infrastructure and a natural gas pipeline for future growth. The [Read more]
Hemisphere Energy Announces Q2 2016 Financial and Operating Results
TSX-V: HME VANCOUVER, Aug. 25, 2016 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") announces its financial and operating results for the three months ended June 30, 2016. Q2 2016 Highlights Averaged quarterly production of 492 boe/d (83% oil). Realized an operating netback of $580,876, or $12.97/boe, for a $10.24/boe improvement over the first quarter of 2016 with an average WTI price of $45.59 US/bbl. Attained aggregate funds flow from operations of [Read more]
Energy East: Start of public proceedings in Quebec
Video and audio streams will be available CALGARY, Aug. 25, 2016 /CNW/ - The Energy East Hearing Panel will continue to hear from intervenors on Monday, August 29, in Montreal, Quebec. The Panel Session will begin at 9 am (local time) at Centre Mont Royal, 2200 Mansfield Street. The public is welcome to attend and a live webcast will be available (view schedule). Panel Sessions are the first of multiple opportunities for registered intervenors to appear before the Hearing Panel to share [Read more]
Ikkuma Resources Corp. Announces Second Quarter 2016 Financial and Operating Results and Credit Facility Renewal
CALGARY, Aug. 25, 2016 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") (TSXV: IKM) is pleased to report its financial and operating results for the three months ended June 30, 2016. Selected financial and operational information is set out below and should be read in conjunction with Ikkuma's interim condensed financial statements and the related management's discussion and analysis ("MD&A") for the three months ended June 30, 2016. Ikkuma's condensed interim financial [Read more]
Ironhorse Announces Q2 2016 Financial and Operating Results
CALGARY, Aug. 23, 2016 /CNW/ - Ironhorse Oil & Gas Inc. ("Ironhorse" or the "Company") (TSX-V: IOG) announces its financial and operating results for the three and six months ended June 30, 2016. Financial and Operation Summary The Company's reported production has decreased 85% to 10 boe/d in the second quarter of 2016 from 67 boe/d produced in the first quarter of 2016. The decrease in production is attributed to the Pembina L2L Pool shut in of production on January 19, 2016. As a [Read more]
Smoothwater Demands an Alberta Oilsands Shareholder Vote on Value-destroying Bailout
TORONTO, Aug. 21, 2016 /CNW/ - Smoothwater Capital Corporation ("Smoothwater") responded to the proposed plan of arrangement announced by Alberta Oilsands Inc. ("AOS") and Marquee Energy Ltd. ("Marquee"). Smoothwater (together with a joint actor) is the largest shareholder of AOS holding over 16.6% of the issued and outstanding shares of AOS. Smoothwater holds no shares of Marquee. Smoothwater will not support the proposed merger by way of a plan of arrangement as it would significantly destroy [Read more]
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