CALGARY - Mexico is laying out the welcome mat for Canadian companies to invest in its energy sector, which is opening up to outside investment after more than 75 years of government control.The country doesn't have the technical know-how to exploit its unconventional sources of energy and Mexican government officials are in Calgary to invite Western Canadian companies to contribute their expertise and investment.Mexico has huge potential in so-called unconvential oil and gas that's trapped in [Read more]
News
Petrus Resources Ltd. Announces Closing of $50 Million Private Placement
CALGARY, ALBERTA--(Marketwired - June 2, 2014) - Petrus Resources Ltd. ("Petrus" or the "Company") is pleased to announce that it has closed its previously announced private placement co-led by RBC Capital Markets Inc. and GMP Securities L.P, and including Peters & Co. Limited, CIBC World Markets Inc. and Acumen Capital Finance Partners Limited (collectively, the "Agents"). The Company issued 9,240,000 Common Shares (including an upsize of 1,540,000 Common Shares from the original offering) [Read more]
Pilot Energy Corp. Announces Swift Current Asset Acquisition
Pilot Energy Corp. has duly executed an offer to purchase (the "OTP" or letter of intent) with the Vendor of certain oil and gas assets comprising 2,320 gross acres (1,838 net acres) in the Swift Current corridor as previously defined in Pilot's Corporate presentations. The assets comprise of 20 barrels of oil per day (gross/net) currently producing, plus 90 barrels per day (net) of suspended oil that can be re-activated immediately from six (6) gross (4.1 net) wells. The working interest in [Read more]
Plans to pipe oilsands crude to Quebec would barely benefit province, according to Greenpeace report
MONTREAL - A new report requested by Greenpeace says proposals to pipe oilsands crude to Quebec refineries would only deliver negligible economic benefits to the province. An economist who co-authored the study says job creation and spinoffs from several active pipeline-and-processing proposals would be insignificant to Quebec's overall economy. At the same time, Brigid Rowan says a pipeline accident could cost lives and put taxpayers on the hook for billions of dollars — particularly if a [Read more]
Tourmaline Oil Corp. Completes $78.4 Million Flow-Through Financing
CALGARY, ALBERTA--(Marketwired - June 2, 2014) - Not for distribution to U.S. newswire services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities law. Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline") is pleased to announce that it has completed its previously announced flow-through share financing. At closing, Tourmaline issued 1,150,000 common shares (of which 1,000,000 were issued on a "bought deal" basis [Read more]
RedWater Continues to Increase Production and Cash Flow in First Quarter of 2014
OKOTOKS, ALBERTA--(Marketwired - June 2, 2014) - RedWater Energy Corp. ("RedWater") (TSX VENTURE:RED) is pleased to report record financial and operating results for the three month period ended March 31, 2014. Highlights Generated cash flow from operations of $249,551 in the first quarter of 2014 compared to a negative cash flow of ($41,010) in first quarter of 2013; Achieved an operating netback of $22.61 per boe in the first quarter of 2014, a 41.8% increase over the first quarter [Read more]
Oil rises above $103 after China reports improvement in manufacturing
Oil prices rose Monday on the prospect of increased demand from China after data showed an improvement in manufacturing.Benchmark U.S. oil for July delivery was up 58 cents to US$103.29 a barrel at 2:30 a.m. ET in electronic trading on the New York Mercantile Exchange. The contract fell 87 cents to close at $102.71 on Friday.Chinese data showed Sunday that manufacturing grew for the third consecutive month in May, suggesting a slowdown in the world's second-largest economy is stabilizing.The [Read more]
Not a ‘know-all:’ Tutu says he won’t tell Canadians what to do about environment
FORT MCMURRAY, Alta. - South African Archbishop Desmond Tutu says he has come to northern Alberta not as an expert on climate change, but hoping to bring people together on an issue that he says is crucial to the future of all creation."I don't come as a know-all who is going to pontificate and tell you Canadians what you must do," he told reporters Friday before opening a two-day conference on oilsands development and First Nations treaties in Fort McMurray."I think I can almost say, without [Read more]
Desmond Tutu goes to Fort McMurray, calls oilsands “filth” created by greed
FORT MCMURRAY, Alta. - Anglican archbishop Desmond Tutu has called Alberta's oilsands "filth" created by greed, and has urged all sides to work together to protect the environment and aboriginal rights."The fact that this filth is being created now, when the link between carbon emissions and global warming is so obvious, reflects negligence and greed," Tutu told more than 200 rapt attendees at a conference on oilsands development and treaty rights in Fort McMurray on Saturday."The oilsands are [Read more]
Quebec OKs initial surveys on Anticosti Island to see if it’s worth exploring
QUEBEC - The Quebec government has given the green light to go ahead with environmental assessments to see if it is possible to explore for oil on Anticosti Island.Natural Resources Minister Pierre Arcand said Friday about 15 surveys will be conducted on the island's soil this summer.More extensive work, including the drilling of three wells, will be done in the summer of 2015 if the results of a strategic environmental assessment on Anticosti Island are favourable.The activity is in conformity [Read more]