CALGARY, ALBERTA--(Marketwired - July 17, 2014) - Northern Spirit Resources Inc. ("Northern Spirit" or the "Company") (TSX VENTURE:NS) is pleased to provide the following operational update. The primary focus of Northern Spirit's development drilling program in 2013 and 2014 has been at Provost in East Central Alberta, which includes the Klein and Cadogan areas. The Company owns 23,300 gross or 16,700 net acres (26 sections) in the area of which 7,600 net acres is undeveloped (12 [Read more]
News
Octagon 88 Resources Announces Spudding Of First Horizontal Production Well
ZUG, Switzerland--(BUSINESS WIRE)--Octagon 88 Resources Inc., (OTCBB:OCTX) is pleased to announce that the first horizontal production well 13-24-091-22W5 on the Bluesky Gething formation has been spudded successfully. The Manning Projects Operator reports: “The first horizontal production well 13-24-091-22W5 was successfully spudded on Saturday, July 12, 2014, 12:13 MST time.” Octagon 88 Resources Inc. is a development stage oil and gas company that has acquired light and conventional [Read more]
Tuscany Announces Closing of $3.0 Million Financing
CALGARY, ALBERTA--(Marketwired - July 17, 2014) - Tuscany Energy Ltd. (TSX VENTURE:TUS) is pleased to announce the closing of its recently announced financing for aggregate gross proceeds of $3.0 million. The Offering was led by Acumen Capital Finance Partners Limited and included Industrial Alliances Securities Inc. and Richardson GMP Limited. An aggregate of 4,286,000 Units of the Corporation and 3,214,000 common shares of the Corporation issued on a "flow-through basis" pursuant to the [Read more]
Connacher Provides Q2 2014 Operational and Capital Plan Updates, AGM Results and Conference Call Details
CALGARY, July 17, 2014 /CNW/ - Connacher Oil and Gas Limited (CLL - TSX; "Connacher" or the "Company") provides an operational update for the second quarter 2014 ("Q2 2014"), a finalized 2014-2015 capital plan ("Capital Plan"), AGM voting results and Q2 2014 conference call details. Operational Update Based on field estimates, Connacher's Great Divide production for Q2 2014 averaged 13,700 bbl/d. Production was two per cent higher than the prior quarter (Q1 2014 - 13,433 bbl/d). Pads 101 and [Read more]
Oil price rises above $102 after US crude inventories fall more than expected
The price of oil rose above $102 per barrel Thursday after a U.S. inventories report showed a larger-than-expected drop in crude oil supplies.Benchmark U.S. crude for August delivery was up 85 cents at $102.05 a barrel at 0855 GMT in electronic trading on the New York Mercantile Exchange. The contract added $1.24 to $101.20 on Wednesday.On Wednesday, the U.S. Energy Information Administration said U.S. crude oil inventories fell by 7.5 million barrels to 375 million barrels in the week of July [Read more]
RMP Energy Achieves a New Quarterly Production Record and Increases 2014 Production Guidance
CALGARY, ALBERTA--(Marketwired - July 16, 2014) - RMP Energy Inc. ("RMP" or the "Company") (TSX:RMP) is pleased to announce another record level of quarterly production, a further increase to its fiscal 2014 production market guidance and an operations update. Second Quarter 2014 Production Update and Increased 2014 Production Guidance As a result of favorable field operating conditions during the second quarter providing for minimal oil trucking restrictions, RMP achieved a new record [Read more]
Raimount acquires Deep Rights in Woolford, Alberta
CALGARY, July 16, 2014 /CNW/ - Raimount Energy Inc. ("Raimount") is pleased to announce that effective July 10, 2014, it and two joint interest partners (both private companies owned and controlled by related parties) have acquired the deep petroleum and natural gas rights (the "Deep Rights") in approximately 20,900 acres of land in the Woolford area of Southwestern Alberta (the "Woolford Assets") for $420,000 from a third party operator. Under the terms of the area joint operating agreement, [Read more]
First Nation pulls out of hearings into Grand Rapids oilsands pipeline
CALGARY - An aboriginal group that lives in northern Alberta's oilsands region has withdrawn from a regulatory hearing into the proposed Grand Rapids crude pipeline. The Athabasca Fort Chipewyan First Nation says it will explore other ways to fight the $3-billion project, which would ship up to 900,000 barrels per day of crude from near Fort McMurray, Alta., to the Edmonton area. ACFN chief Allan Adam says he was "dumbfounded" by the Alberta Energy Regulator's process, which he says was [Read more]
Oil price rises to near $101 after China’s economic growth ticks higher in second quarter
Oil prices rose Wednesday after China reported a slight improvement in economic growth for the second quarter that allayed fears its slowdown was continuing. The benchmark U.S. crude for August delivery was up $1.11 cents at US$101.07 a barrel on the New York Mercantile Exchange. Prices have fallen in recent weeks as Libya neared an increase in production and after worries about supply disruptions from Iraq faded. But stronger economic growth in China, the world's top oil importer, could [Read more]
Shoreline Energy Corp. Announces Amended and Restated Forbearance Agreement With Senior Lender
CALGARY, ALBERTA--(Marketwired - July 16, 2014) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Corporation") announces that it has entered into amendments extending its Amended and Restated Forbearance Agreement with its senior secured lender, Alberta Treasury Branches as well as a forbearance arrangement with its creditor, Devon Canada (collectively, the "Forbearance"). The Forbearance will provide Shoreline with the ongoing opportunity to complete its strategic alternatives process, [Read more]