CALGARY, Dec. 8, 2014 /CNW/ - 3MV Energy Corp. ("3MV" or the "Company") (TSXV: TMV) is pleased to announce that the Phase I drilling program in its core area of Fiske, Saskatchewan has been completed resulting in 100% success of six new producing oil wells. The Fiske prospect is an area defined by 3MV and is approximately 12 miles south west of Rosetown, Saskatchewan. 3MV continues to maintain a fifty per cent working interest in excess of 50 contiguous sections. Phase II Fiske drilling is [Read more]
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Vermilion Energy Inc. Announces 2015 Guidance
CALGARY, Dec. 8, 2014 /CNW/ - Vermilion Energy Inc. ("Vermilion", "We", or "Our") (TSX, NYSE: VET) is pleased to announce that our Board of Directors has approved a capital program of $525 million for 2015, a decrease of $150 million (22%) from our projected 2014 capital program expenditures of approximately $675 million. In light of the decrease in crude oil prices since mid-2014, we have reduced our 2015 capital investment plans to ensure the continued strength of our balance sheet and the [Read more]
Slumping oil prices threaten to reduce revenues at Canada’s top banks
TORONTO - Oil prices that reached a five-year low on Friday are starting to take a bite out of profits at TD Bank (TSX:TD) and raising concerns for the rest of the country's top lenders.Canada's biggest banks earn up to 20 per cent of their revenues through providing investment and corporate banking services, with oil and gas companies an important part of that client base.But with oil prices slipping — they have tumbled roughly 35 per cent to under $70 a barrel from their mid-summer highs due [Read more]
Northern B.C. First Nations to pursue part ownership of LNG, mining projects
PRINCE GEORGE, B.C. - First Nations chiefs in British Columbia's resource-rich north have banded together to pursue ownership of liquefied natural gas, mining and forestry projects.Thirty-six hereditary and elected chiefs have signed an agreement to collectively benefit from resource development in their traditional territories.Chief Martin Louie of the Nadleh Whut'en First Nation said Friday that a meeting to sign the agreement was triggered by concerns around consultation and environmental [Read more]
Tuscany Announces Planned $1,000,000 Flow-Through Financing and Updates Q4 2014 Drilling Program
CALGARY, ALBERTA--(Marketwired - Dec. 5, 2014) - Tuscany Energy Ltd. ("Tuscany" or the "Company") (TSX VENTURE:TUS) announces that it plans to issue up to 2.27 million common shares of the Company on a flow-through basis (the "Flow-Through Shares") at a price of $0.44 per Flow-Through Share for total consideration of up to approximately $1,000,000. Tuscany will renounce to subscribers of the common shares effective on or before December 31, 2014, eligible Canadian Exploration Expense in an [Read more]
Blackbird Energy Inc. Announces Closing of First Tranche of Non-Brokered Private Placement of Flow-Through Shares
CALGARY, ALBERTA--(Marketwired - Dec. 5, 2014) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company") is pleased to announce that it has completed the first tranche of the previously announced non-brokered flow-through share private placement (the "Private Placement") issuing a total of 12,850,555 shares at a price of $0.45 for gross proceeds of $5.78 million. The net proceeds from the Private Placement will be used by the Company to incur eligible Canadian Exploration [Read more]
Paramount Resources Ltd. Announces $200 Million Increase in Bank Credit Facility and Affirms Sales Volume Guidance
CALGARY, ALBERTA--(Marketwired - Dec. 5, 2014) - Paramount Resources Ltd. (TSX:POU) ("Paramount" or the "Company") is pleased to announce that its bank credit facility has been increased from $700 million to $900 million based on the results of its Deep Basin development programs. As part of the annual renewal, the revolving period of the facility has been extended to November 30, 2015. Paramount's sales volumes are expected to exceed 50,000 Boe/d depending on the availability of incremental [Read more]
Alberta to talk about ‘consistent’ carbon price at climate change conference
EDMONTON - Alberta's environment minister says the province plans to use the upcoming climate change conference in Peru to discuss a uniform price for carbon across Canada and the rest of the continent."We would like to work with the rest of Canada — and by extension the rest of North America — on trying to establish the consistent, fair price on carbon," Kyle Fawcett told The Canadian Press in an interview before he headed to Lima for the UN-sponsored conference."I know that's not going to be [Read more]
Toro Issues Reminder of Expiry of Rights and Provides Update on Share Consolidation
CALGARY, ALBERTA--(Marketwired - Dec. 5, 2014) - Toro Oil & Gas Ltd. (the "Company" or "Toro") (TSX VENTURE:TOO) is providing a reminder that the rights issued by the Company under its rights offering announced on October 28, 2014 expire at 4:00 p.m. (Calgary time) on December 8, 2014. Every six rights will entitle the holder to purchase one common share of the Company at a price of $0.03375 until the rights expire. The rights certificates bear the former name of the Company (Kallisto [Read more]
MEG Energy announces $1.2 billion 2015 capital budget
CALGARY, ALBERTA--(Marketwired - Dec. 4, 2014) - All dollar figures are in $Cdn unless otherwise noted. MEG Energy (TSX:MEG) today provided an update to its 2014 capital program and outlined its 2015 capital investment plan and production guidance. Highlights include: A reduction in planned 2014 capital investment to approximately $1.2 billion from an original budget of $1.8 billion; Planned 2015 capital investment of $1.2 billion that is intended to be internally-funded from 2014 [Read more]