BOE Report

Tamarack Valley Energy Ltd. Announces Strategic Acquisitions, $72 Million Bought Deal Financing and Increased 2016 Guidance

CALGARY, ALBERTA--(Marketwired - June 20, 2016) - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") (TSX:TVE) is pleased to announce that it has entered into binding agreements to undertake two strategic asset acquisitions, the total aggregate cash consideration for which will be $85 million (the "Acquisitions"), subject to certain closing adjustments. The first acquisition is a strategic consolidation of assets located in Tamarack's core operating areas of Redwater and Wilson Creek [Read more]

Athabasca Oil Corporation Announces a $129 Million Contingent Bitumen Royalty and Repayment of US$221 Million Term Loan

CALGARY, ALBERTA--(Marketwired - June 20, 2016) - Athabasca Oil Corporation (TSX:ATH) ("Athabasca" or the "Company") is pleased to announce that it has granted a Contingent Bitumen Royalty to Burgess Energy Holdings L.L.C. ("Burgess") on its Thermal assets (the "Royalty") for total consideration of $129 million. Concurrently, the Company has repaid its US$221 million first lien term loan ("TLB") which is the first step towards aligning the Company's capital structure with its go forward [Read more]

Tuscany Announces Extension of Bank Waiver and Strategic Review Update

CALGARY, ALBERTA--(Marketwired - June 17, 2016) - Further to its press release of April 29, 2016 in which Tuscany Energy Ltd. (TSX VENTURE:TUS) ("Tuscany" or the "Company") announced that it was in breach and had a received a temporary waiver of certain covenants under its demand credit facility, Tuscany has obtained a further waiver of the breaches to June 24, 2016 to allow it to continue to explore alternatives to remedy the breaches. As previously announced, Tuscany has undergone and [Read more]

Canadian Spirit Resources Inc. Announces Increase to Private Placement

CALGARY, ALBERTA--(Marketwired - June 17, 2016) - Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI) (OTCBB:CSPUF) is pleased to announce that it is increasing, subject to TSX Venture Exchange approval, its previously announced non-brokered private placement offering from $500,000 to $640,000. The private placement is comprised of a combination of common shares of the Corporation issued on a flow-through basis pursuant to the Income Tax Act ("Flow-Through Shares") at [Read more]

Granite Oil Corp. Announces 2016 Budget and Guidance Update

CALGARY, ALBERTA--(Marketwired - June 16, 2016) - GRANITE OIL CORP. ("Granite" or the "Company") (TSX:GXO)(OTCQX:GXOCF) is pleased to announce its updated budget and guidance for the remainder of 2016. With low commodity prices through the first half of 2016, Granite's primary focus was to create long-term value with the expansion of its Gas Injection - Enhanced Oil Recovery ('EOR') scheme in its 100%-owned Alberta Bakken oil pool. Throughout the first and second quarter, the Company [Read more]

Long Run Exploration Ltd. Provides Update on Arrangement

CALGARY, ALBERTA--(Marketwired - June 16, 2016) - Long Run Exploration Ltd. ("Long Run" or the "Company") (TSX:LRE) announces that Calgary Sinoenergy Investment Corp. (the "Purchaser") has extended the outside date of the proposed plan of arrangement involving Long Run, the Purchaser and the Long Run securityholders (the "Arrangement") to July 29, 2016. The Purchaser has submitted its final documentation for approval with respect to the regulatory review process under the Investment Canada [Read more]

Corridor Announces Impact on Reserves Due to the New Brunswick Government’s Decision to Continue Hydraulic Fracturing Moratorium

HALIFAX, NOVA SCOTIA--(Marketwired - June 16, 2016) - Corridor Resources Inc. (TSX:CDH) ("Corridor") announced today an update to the reserves set forth in the "Statement of Reserves Data and Other Oil and Gas Information" in Corridor's Annual Information Form for the year ended December 31, 2015 (the "Statement of Reserves"). The Statement of Reserves summarizes the reserves report of GLJ Petroleum Consultants Ltd. ("GLJ") for Corridor's properties in the McCully Field and the Caledonia Field [Read more]

Husky Energy Begins Steam Operations at Edam West and Provides Thermal Update

CALGARY, AB--(Marketwired - June 16, 2016) - Husky Energy has commenced steam operations at the 4,500 barrels per day (bbls/day) Edam West Thermal in Saskatchewan, its third thermal project to be brought online this year. The 10,000 bbls/day Edam East Thermal Project, which achieved first oil in April, is now producing above its design rate at approximately 11,000 bbls/day. At the 10,000 bbls/day Vawn development, first production has started approximately six weeks after steaming [Read more]

Torchlight Adds to the Board of Directors

PLANO, TX--(Marketwired - June 16, 2016) - Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today announced that its Board of Directors nominated and appointed Alex Zyngier to the Board as an independent director. The appointment was effective June 13th, 2016. A Form 8-K was previously filed with the details.Mr. Zyngier founded Batuta Advisors in 2013 to pursue high return investment opportunities in the distressed and turnaround sectors. Mr. Zyngier has over 20 [Read more]