CALGARY, ALBERTA--(Marketwired - Feb. 10, 2014) - Cardinal Energy Ltd. ("Cardinal") (TSX:CJ) is pleased to announce that it has closed the previously announced private placement (the "Offering") of 2,187,500 common shares ("Common Shares") at a price of $12.80 per Common Share. The gross proceeds from the Offering totalled $28 million. The Offering was underwritten by a syndicate of underwriters co-led by RBC Capital Markets and CIBC and included GMP Securities L.P., Macquarie Capital Markets [Read more]
News
Longview gets takeover offer
CALGARY - Longview Oil Corp. is reviewing an unsolicited, non-binding takeover offer from an unidentified public company. Longview provided few details except that the prospective bidder would pay for the deal with its own shares. The company says it has set up a special committee to review the proposal and also adopted a shareholder rights plan. The rights plan is a defensive move to provide Longview's board with time to evaluate the offer and alternatives. The overture comes at a [Read more]
Longview Announces Receipt of Unsolicited Non-Binding Proposal, Formation of a Special Committee and Directors Approval of Shareholder Rights Plan
CALGARY, Feb. 10, 2014 /CNW/ - Longview Oil Corp. ("Longview" or the "Company") announces today that it has received an unsolicited non-binding proposal (the "Proposal") from a public oil and gas company (the "Interested Party") to purchase all of the issued and outstanding shares of Longview ("Longview Shares"). Under the non-binding Proposal, the Interested Party proposes to purchase the Longview Shares in exchange for shares of the Interested Party. The Proposal is based on an exchange ratio [Read more]
Hyperion Exploration Corp. Announces Revisions to Bank Line
CALGARY, ALBERTA--(Marketwired - Feb. 7, 2014) - Hyperion Exploration Corp. (TSX VENTURE:HYX) ("Hyperion" or the "Corporation") announces that the Corporation's banking facilities have been revised following the disposition of the Chip Lake assets completed on January 31, 2014, to an aggregate borrowing limit of $40.0 million ($30.0 million operating facility and a $10.0 million acquisition facility). The proceeds from the sale of the Chip Lake assets reduced Hyperion's bank debt to [Read more]
By rail or pipeline, oil will go to U.S.: Doer
EDMONTON - Canada's ambassador to the United States says stopping the Keystone XL pipeline won't stop an increasing amount of Alberta oil from getting to the Gulf Coast. Gary Doer says shipping oil by rail south of the border has skyrocketed in the last two years with a resulting increase in greenhouse gas emissions. He says that's why he will continue to work to persuade the U.S. government to approve the Keystone pipeline from Alberta to Texas. He says it helps that decision-makers in [Read more]
B.C. applies for intervener status at Trans Mountain pipeline hearings
VANCOUVER - The province of British Columbia has filed an application to take part in the public hearings into Kinder Morgan's proposed expansion of its Trans Mountain oil pipeline. Under an agreement signed with the federal government, the province will not conduct its own review of the project but let the federal decision stand for B.C.'s assessment as well. As an intervener, the province is on the same footing as First Nations, environmental and business groups that, under new federal [Read more]
Column: US should get ready for higher oil prices
Without the Keystone XL pipeline, the US will soon have to compete on the international market for higher priced oil By Ryan Lijdsman EDMONTON, AB/ Troy Media/ - Now that the U.S. State Department has laid to rest any scientific claim to blocking the Keystone XL pipeline, the latest argument used by anti-pipeline proponents is that the U.S. does not need Canadian oil at all. U.S. shale oil technology, they claim, has prevailed over peak oil and the U.S. has enough oil for the next 50 [Read more]
Statoil to drill off Newfoundland in summer
ST. JOHN'S, N.L. - Norwegian energy firm Statoil says it will begin exploration drilling off Newfoundland later this year. The company says the drilling will take place some time likely between July and September. Statoil announced last fall that it had discovered a reservoir of light crude believed to hold between 300 million and 600 million barrels of recoverable oil while drilling in an area known as the Bay du Nord prospect, about 500 kilometres northeast of St. John's. It was the [Read more]
Sunshine Oilsands Ltd. Announces Closing of the Private Placement of HK$76.5 Million of Common Shares and Warrants to Jin Quan Limited Under the General Mandate
CALGARY, Alberta and HONG KONG, Feb. 7, 2014 /CNW/ - CLOSING OF PRIVATE PLACEMENT TO JIN QUAN LIMITED Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKEX: 2012, TSX: SUO) is pleased to announce today that it has completed the closing (the "Closing") of its private placement of 45,000,000 units of the Corporation (the "Units") to Jin Quan Limited ("Jin Quan") at a price of HK$1.70 per Unit (approximately CDN$0.24 per Unit) (the "Jin Quan Placement"), which was announced by the [Read more]
NDP wants urban drilling banned in Alberta
LETHBRIDGE, Alta. - The Alberta New Democrats are calling on the provincial government to ban all drilling in urban areas. NDP Leader Brian Mason spoke with Lethbridge media Thursday just two kilometres from where GoldenKey Oil wants to drill three exploratory wells. Mason said the Tory government is dragging its feet when it comes to addressing the issue. He also wants the Conservatives to undertake an independent, scientific review of fracking, its impact on water quality, air quality [Read more]