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]
Marquee Energy Ltd. Announces Operations Update and 2013 Guidance
CALGARY, Feb. 13, 2013 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV:MQL.V) is pleased to provide an update on recent operational results and 2013 Guidance. The activities contemplated by the Company's $26 million 2013 capital program are anticipated to be capable of generating 25% production growth while continuing to increase the Company's oil and liquids weighting. Results for all three wells from the Company's fourth quarter horizontal drilling program at Michichi have [Read more]
Legacy Oil + Gas Inc. announces 2012 year-end reserves, strong finding, development and acquisition costs and provides operational update
CALGARY , Feb. 12, 2013 /CNW/ - Legacy Oil + Gas Inc. ("Legacy" or the "Company") (LEG.TO) is pleased to announce its 2012 year-end reserves and provide an operational update. The financial and operational information contained below is based on the Company's unaudited expected results for the year ended December 31, 2012 . HIGHLIGHTS 2012 total proved plus probable finding, development and acquisitions costs (including changes in future development costs) were $22.72 per [Read more]
Nexen Announces All Required Regulatory Approvals Received
CALGARY, Feb. 12, 2013 /CNW/ - Nexen Inc. ("Nexen", TSX, NYSE: NXY) announced today that Nexen has received approval from the Committee on Foreign Investment in the United States (CFIUS) with respect to the proposed acquisition of Nexen by CNOOC Limited, and now has all of the requisite approvals to proceed to close. The transaction is expected to close the week of February 25, 2013 and remains subject to customary closing conditions. The letter of transmittal for the acquisition of common [Read more]
Surge Energy Inc. Announces Significant Increase in 2012 Year-End Reserves, Resumption of Drilling Operations in the Southern Pool Area of Valhalla and Management Update
CALGARY, Feb. 12, 2013 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX:SGY.TO) is pleased to announce its 2012 year-end reserves evaluation (NI-51-101 compliant) and to provide an update on current operations. SUMMARY: In 2012, Surge achieved 27 percent growth in reserves per share and forecasts (based on unaudited estimates), 21 percent growth in production per share (basic) and a 31 percent increase in cash flow per share (basic) despite lower realized field prices due to an [Read more]