This news release includes forward-looking statements and information within the meaning of applicable securities laws. Readers are advised to review the "Cautionary Note Regarding Forward-Looking Information and Statements" at the conclusion of this news release. Readers are also referred to "Information Regarding Reserves, Resources and Operational Information", "Notice to U.S. Readers" and "Non-GAAP Measures" at the end of this news release for information regarding the presentation of the [Read more]
Imperial Oil Limited Appoints Chairman and Chief Executive Officer
CALGARY , Feb. 21, 2013 /CNW/ - The board of directors of Imperial Oil Limited is pleased to announce the appointment of R.M. (Rich) Kruger as chairman, president and chief executive officer effective March 1 . Mr. Kruger , currently president of ExxonMobil Production Company, succeeds B.H. (Bruce) March, who has been appointed senior vice president of global operations for ExxonMobil Chemical Company. "We would like to thank Mr. March for his leadership and vision over the past five [Read more]
Bellatrix Exploration Announces Material Reserves Increases (up 54%) Posting $6.95/boe Finding and Development Costs
TSX: BXE CALGARY, Feb. 21, 2013 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") announces the results of an independent reserve evaluation effective December 31, 2012. The report was completed by Sproule Associates Limited ("Sproule"). The evaluation encompasses 100% of Bellatrix's oil and gas properties and was prepared in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). Bellatrix benefitted from the largest [Read more]
TriOil Provides Clarification Regarding Shareholder Rights Plan and Strategic Process
CALGARY, Feb. 20, 2013 /CNW/ - (TSXV:TOL.V ) TriOil Resources Ltd. ("TriOil" or the "Corporation"), in reply to shareholder inquires, wishes to clarify that the timing of shareholder approval for the recently adopted shareholder rights plan (the "Rights Plan") does not impact upon the timing of the strategic alternatives process being undertaken by the Corporation. As indicated in the Corporation's February 19, 2013 press release, the independent committee of directors (the "Special [Read more]
TriOil Announces Directors Approval of Shareholder Rights Plan, Appointment of Chairman of the Board and Strategic Process Update
CALGARY , Feb. 19, 2013 /CNW/ - February 19, 2013 - (TOL.V) TriOil Resources Ltd. ("TriOil" or the "Corporation") announces that its Board of Directors (the "Board") has adopted a Shareholder Rights Plan (the "Rights Plan") to be effective February 22, 2013 . The Corporation's previously adopted shareholder rights plan dated August 22, 2012 (the "Previous Plan") expires on February 22, 2013 . As TriOil has initiated a comprehensive strategic alternatives process, the Rights Plan has been [Read more]
Yangarra Provides Operations Update and Announces 2013 Capital Program
CALGARY, Feb. 19, 2013 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX-V:YGR.V) announces that December 2012 field production averaged 2,180 boe/d (50% oil and NGL's). Annual production for 2012 was 1,915 boe/d (40% oil and NGL's) which is a 52% increase in production per common share over 2011. Net capital expenditures in 2012 were scaled back to 60% of the planned $35 million budget due to low natural gas pricing, wet conditions in Central Alberta and infrastructure [Read more]
Pinecrest Energy Inc. Announces Stock Option Grant
TSX Venture Exchange: PRY CALGARY, Feb. 15, 2013 /CNW/ - Pinecrest Energy Inc. ("Pinecrest") announces that in conjunction with his appointment to V.P. Engineering, 400,000 stock options were granted to Mr. Darrin Drall at an exercise price of $1.34. Subsequent to this stock option grant, Pinecrest has a total of 15,516,666 stock options outstanding. Corporate Information Pinecrest's common shares trade on the TSX Venture Exchange under the symbol PRY. Pinecrest currently has [Read more]
TriOil Board and Special Committee appoint financial advisors
CALGARY, Feb. 14, 2013 /CNW/ - TriOil Resources Ltd. ("TriOil" or the "Company" - TSXV:TOL) announces that its board of directors (the "Board") has retained GMP Securities L.P. as lead financial advisor to the Board and Dundee Securities Ltd. as financial advisor to the Board to assist it in the strategic review of the Company's business plan and its consideration of additional means to enhance shareholder value. In addition, TriOil's committee of independent directors (the "Special [Read more]
Penn West Exploration Announces its Financial Results for the Fourth Quarter Ended December 31, 2012 and 2012 Year-end Reserve Results
CALGARY, Feb. 14, 2013 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("PENN WEST") is pleased to announce its results for the fourth quarter ended December 31, 2012 and year-end reserve results. All figures are in Canadian dollars unless otherwise stated. We are committed to maximizing the efficiency of our capital programs and the reliability of our production base while continuing to improve the company's balance sheet. We have actively changed the balance of our asset [Read more]
Connacher Reports Year-End 2012 Reserves
CALGARY , Feb. 13, 2013 /CNW/ - Connacher Oil and Gas Limited (CLL - TSX) reported today that as of December 31, 2012 its estimated proved ("1P") bitumen reserves, as evaluated by GLJ Petroleum Consultants Ltd. ("GLJ"), independent qualified reserves evaluators, totaled approximately 214 million barrels. 1P bitumen reserve volumes have increased by 22 per cent, over year-end 2011 volumes, after production of 4.3 million barrels during the year, due largely to the approval of the Great Divide [Read more]