CALGARY - A First Nation says it has signed a deal with a Chinese company to explore and develop oil and natural gas on its land near Calgary. The Nakoda Stoney Nation says it has signed an agreement with Hong Kong-based Huatong Petrochemical Holdings Ltd. Under the terms of the deal, Huatong is to provide the funding and Nakoda Oil & Gas Inc. is to be the primary operator of the joint venture. The Stoney reserve at Morley is about 60 km west of Calgary. The First Nation says the [Read more]
News
Inuit want review of approval for offshore Baffin seismic testing
A tiny community on Canada's Arctic coast is trying to overturn a regulatory decision that OKs offshore energy exploration.The hamlet of Clyde River along the east coast of Baffin Island has asked for a judicial review of a National Energy Board decision that approves seismic testing in nearby waters.The community fears the testing will affect marine mammals people depend on to live.Its concerns are widely shared among Inuit on Baffin Island, as well as by Nunavut wildlife management boards and [Read more]
Petro One Announces Drilling Joint Venture
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 28, 2014) - Petro One Energy Corp. (TSX VENTURE:POP)(PINKSHEETS:CUDBF)(FRANKFURT:C6K1) has entered into a Program Earning and Joint Venture Agreement (the "Agreement") with Korea Myanmar Development Corporation ("KMDC") which provides for a $4,000,000 private placement financing ("PP#1") and a $14,000,000 funding (the "Phase 1 Funding") to drill up to 11 oil wells on certain of the Company's oil and natural gas leases in Saskatchewan and Manitoba [Read more]
Jupiter Resources Inc. Announces Proposed Private Offering of US$1.125 Billion Senior Notes Due 2022 and New Reserve-Based Revolving Credit Facility
CALGARY, Alberta--(BUSINESS WIRE)--Jupiter Resources Inc. (“Jupiter”) announced today that it intends, subject to market and other conditions, to offer US$1,125,000,000 aggregate principal amount of its Senior Notes due 2022 (the “Notes”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. Jupiter expects to use the net proceeds from [Read more]
CaiTerra International Energy Corporation Announces Purchase of Undeveloped Oil and Gas Leases in Alberta
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 28, 2014) - CaiTerra International Energy Corporation (TSX VENTURE:CTI) ("Caiterra" or the "Company"), announces that, subject to regulatory approvals, the Company has entered into an agreement on July 25, 2014 to acquire an undivided 100% beneficial interest in and to a total of 135.68 square kilometers of oil and gas leases located in northern and central Alberta. The agreement was reached between the Company and BowRiver Development Canada Ltd. [Read more]
Zargon Oil & Gas Ltd. Discusses Alberta Energy’s Enhanced Oil Recovery Royalty Changes and Provides a Little Bow ASP Flood Project Update
CALGARY, ALBERTA--(Marketwired - July 28, 2014) - Zargon Oil & Gas Ltd. (TSX:ZAR)(TSX:ZAR.DB) ("Zargon") reports that the revisions to the Enhanced Oil Recovery ("EOR") royalty program announced last week by Alberta Energy will have a positive impact on the economics of Zargon's Alkaline Surfactant Polymer ("ASP") enhanced oil recovery project at Little Bow in Southern Alberta. Zargon is currently reviewing the details of Alberta's modified EOR Crown royalty program (see announcement at [Read more]
Athabasca Oil Corporation Provides Clarification on the Closing of the Dover Put Transaction
CALGARY, July 28, 2014 /CNW/ - In light of recent market speculation and investor queries Athabasca Oil Corporation (TSX: ATH) ("Athabasca" or "the Company") is providing clarification on the status of the transaction relating to the Dover Put Option, which it exercised on April 17, 2014. The Company confirms that it continues to work with Phoenix Energy Holdings Limited to close the transaction in accordance with the terms of the Put/Call Option Agreement. Athabasca will update the market on [Read more]
Strategic Oil & Gas Ltd. Announces Successful Start to Summer Drilling Program
CALGARY, ALBERTA--(Marketwired - July 28, 2014) - Strategic Oil & Gas Ltd. ("Strategic" or the "Company") (TSX VENTURE:SOG) today announced its first horizontal Muskeg well post spring break-up. The Muskeg well 11-24 produced at an average test rate of 545 boe/d (77% oil) over the first seven days. Costs to drill and complete the well were $3.9 million, representing a 25% decrease when compared to the Company's average well costs in the play. Gurpreet Sawhney, Strategic's President and [Read more]
Questerre Updates Montney Activities
CALGARY, ALBERTA--(Marketwired - July 28, 2014) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) updated its operated and joint venture activities in the Kakwa-Resthaven area of Alberta. Michael Binnion, President and Chief Executive Officer, commented, "Over the next several weeks, we expect to see the results from five important Montney wells. The completion of the 16-07 Well in Kakwa South is underway and this should prove up the condensate rates on our [Read more]
Oil price trades near $102 a barrel as worries over supplies, geopolitical tensions ease
The price of oil traded around $102 a barrel on Friday, nearly unchanged, as worries over supplies and geopolitical tensions eased.Oil prices had slipped Thursday after spiking earlier in the week on lower U.S. inventories and tensions in Ukraine and the Middle East.Benchmark U.S. crude for September delivery rose 2 cents to $102.09 a barrel on the New York Mercantile Exchange. On Thursday, the Nymex contract had dropped $1.05 to close at $102.07.Lower-than-expected U.S. crude inventories in a [Read more]