The federal government is saying little on a report that the European Union is poised to soften fuel quality rules so products made from Canada's oilsands would not face hefty penalties.The Financial Times is reporting that EU officials have decided to change a draft of a fuel quality directive, something Canadian officials have lobbied their European counterparts to do. Proposed EU environmental legislation would have set heavy penalties on petroleum products made from Alberta's oilsands, [Read more]
News
RMP Energy Reports Voting Results of Annual and Special Meeting and Announces Increased Bank Lines
CALGARY, ALBERTA--(Marketwired - June 5, 2014) - RMP Energy Inc. ("RMP" or the "Company") (TSX:RMP) is pleased to report and announce the following: Annual and Special Meeting Voting Results The Company held its annual and special meeting of shareholders (the "Meeting") in Calgary on June 5, 2014. A total of approximately 77,525,750 common shares (approximately 64.5% of the outstanding common shares) were represented at the Meeting in person or by proxy. At the Meeting, shareholders [Read more]
Contact Exploration Announces Closing of Private Placement
CALGARY, ALBERTA--(Marketwired - June 5, 2014) - Contact Exploration Inc. ("Contact" or the "Company") (TSX VENTURE:CEX) is pleased to announce that it has closed its previously announced non-brokered private placement (the "Private Placement") of: (i) 10,256,411 common shares (the "Common Shares") of the Company at an issue price of $0.39 per Common Share; and (ii) 13,700,000 Common Shares issued on a "flow-through" basis respecting the expenditure of Canadian development expenses pursuant to [Read more]
Surge and Longview Complete Previously Announced $430 Million Strategic Business Combination
Surge Announces Upward Revision to 2014 Guidance, and 11 Percent Increase in Dividend CALGARY, June 5, 2014 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) and Longview Oil Corp. ("Longview") (TSX: LNV) are pleased to announce that they have completed their previously announced business combination whereby Surge has acquired all of the issued and outstanding common shares of Longview pursuant to an arrangement under the Business Corporations Act (Alberta) (the "Arrangement"). [Read more]
Hemisphere Energy Kicks Off 5 Well Summer Drill Program
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 5, 2014) - Hemisphere Energy Corporation (TSX VENTURE:HME) ("Hemisphere" or the "Company") is pleased to announce that it has commenced its summer drilling program of five development wells in the Atlee Buffalo area of southeast Alberta. All five horizontal wells are offsetting the Company's first well in Atlee Buffalo, which was drilled in January 2014 and has averaged approximately 90 boe/d (93% oil) over the first four months of production. [Read more]
Bellatrix Exploration Ltd. Announces Closing of $172.6 Million Bought Deal Financing
CALGARY, June 5, 2014 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) is pleased to announce that it has closed its previously announced bought deal offering of 18,170,000 common shares of the Company (the "Common Shares") at a price of $9.50 per Common Share for aggregate gross proceeds of $172,615,000 (the "Offering"). The Common Shares issued pursuant to the Offering included the exercise in full by the underwriters of the over-allotment option. The [Read more]
Shoreline Energy Corp. Delays AGM Due to Strategic Review Process
CALGARY, ALBERTA--(Marketwired - June 5, 2014) - Shoreline Energy Corp. (the "Company" or "Shoreline") (TSX:SEQ) announces that it has delayed the date of its annual meeting to a date which will be no later than September 30, 2014. Shoreline had originally intended to hold its annual general meeting before June 30, 2014, but as the Company continues to advance its previously announced review of strategic alternatives, management has determined that such process may result in the requirement [Read more]
Oil slips 2 cents despite drop in crude supplies because refined fuel supplies are ample
The price of crude oil stayed flat Wednesday as falling stockpiles of crude were offset by rising supplies of refined fuels. Benchmark U.S. oil for July fell 2 cents to close at $102.64 a barrel in New York Mercantile Exchange. Brent crude, a benchmark for international oil used by many U.S. refineries, fell 42 cents to close at $108.40 a barrel in London. The Energy Department reported Wednesday that U.S. crude supplies fell by 3.4 million barrels last week as refiners increased activity [Read more]
Canadian Spirit Resources Inc. Announces Closing of Private Placements
CALGARY, ALBERTA--(Marketwired - June 4, 2014) - Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI) (OTCBB:CSPUF) announces that it has accepted certain subscriptions on its non-brokered private placements previously announced on May 26, 2014. The Corporation may accept further subscriptions in regards to these private placements. In the first private placement, the Corporation issued 3,060,000 units ("Units") at a price of $0.50 per Unit. Each Unit consists of one [Read more]
Ex-Navy SEAL Team Six member commissioned by pipeline critics to help kill Keystone XL project
WASHINGTON - A member of U.S. special operations forces who worked on the project to kill Osama bin Laden is now working on the project to kill the Keystone XL pipeline. Dave Cooper is a former member of the Navy SEALs squad, known informally as SEAL Team Six, who supervised and helped train the soldiers who killed bin Laden in 2011. The now-retired military man was hired by opponents of Keystone XL to conduct a threat assessment against the possible pipeline. The group that [Read more]