Alexander Energy Ltd. (TSX VENTURE:ALX) ("Alexander" or the "Corporation") is pleased to announce that it has entered into a definitive reorganization and investment agreement (the "Agreement") with Richard McHardy, Albert Stark, Ed Wong, Fotis Kalantzis, Thomas Boreen and Michelle Wiggins, (the "Initial Investor Group") which provides for: (i) a non-brokered private placement of up to an aggregate of approximately $26.5 million (the "Private Placement"); (ii) the appointment of a new management [Read more]
News
Obstruction charges withdrawn from Poseidon
CALGARY - The Alberta Securities Commission has withdrawn obstruction of justice allegations against troubled Calgary-based firm Poseidon Concepts Corp.In September, the regulator had alleged that Poseidon Concepts tried to hide changes in minutes taken during its board of director and audit committee meetings.The documents, which were handed over to the watchdog, were taken between Nov. 1, 2011 and Feb. 28, 2013.The ASC did not provide reasons for the decision to withdraw its allegations, which [Read more]
First Nations mistrust energy sector: survey
CALGARY - A university study suggests Canada's First Nations harbour a deep mistrust of the oil and gas industry, but are willing to talk energy development if it can be proven to be beneficial to them.The study by the University of Calgary's School of Public Policy surveyed 300 individuals by phone and online in aboriginal communities across the country between July 6 and July 15.The goal was to get a better idea of how First Nations view the industry and how knowledgeable they are about [Read more]
Oilsands area largely intact, says report
EDMONTON - A report by an environmental monitoring agency has found the variety of plants and animals in the oilsands area is largely healthy. But the Alberta Biodiversity Monitoring Institute, funded by industry and government, has found that animals that prefer old-growth forests, such as marten, are deserting the region in favour of those such as coyotes, which are found everywhere. The institute found that the oilsands area is still about 94 per cent intact when it comes to what's [Read more]
Oil gains on strong US growth; natural gas soars
NEW YORK - The price of oil edged higher Thursday as the U.S. economy grew more than expected in the third quarter.Benchmark U.S. crude for January delivery rose 18 cents at $97.38 a barrel on the New York Mercantile Exchange. Oil rose near $98 for the first time in five weeks before falling back a bit. Oil is still up $4.66 a barrel, or 5 per cent, this week.Meanwhile, natural gas rose to the highest level in six months as the Energy Department reported a large decline in supplies and cold [Read more]
Inter Pipeline Announces Board and Senior Management Changes
CALGARY, ALBERTA--(Marketwired - Dec. 5, 2013) - Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) today announced several changes regarding the composition of its board of directors and senior management team. These changes include the appointment of a new independent Chairman of the Board, the transition of Chief Executive Officer responsibilities and the appointment of a new Chair of the corporation's Governance Committee. The changes announced today are highly consistent with Inter Pipeline's [Read more]
Sundance Energy Corporation: Ochapowace 16-32-17-3W2M: Drilling Update
CALGARY, ALBERTA--(Marketwired - Dec. 5, 2013) - Sundance Energy Corporation ("Sundance" or the "Corporation") (TSX VENTURE:SNY)(OTCQX:SNYXF) hereby provides an update on the Corporation's recent drilling activities in the Ochapowace Area located in south east Saskatchewan: The 16-32 Test Well commenced drilling before the end of November 2013 and was drilled to a depth of approximately 1,250 meters subsurface. The 16-32 Test Well evaluated the Jurassic Sands, the Bakken, Lodgepole and [Read more]
Sturgeon Refinery still a good deal, NWU says
CALGARY - The chairman of North West Upgrading Inc. says a government-backed bitumen refinery being built near Edmonton can still turn a tidy profit, despite a major cost overrun and delay.Ian MacGregor says he was surprised and disappointed when he learned the pricetag of the refinery — part of a partnership with oil giant Canadian Natural Resources Ltd. (TSX:CNQ) — would be 50 per cent higher than the original estimate of $8.5 billion.But MacGregor says companies can make a $45-per-barrel [Read more]
Traverse Energy Ltd. Announces Increase in Size of Private Placement Financing
CALGARY, ALBERTA--(Marketwired - Dec. 5, 2013) - Traverse Energy Ltd. (the "Corporation") (TSX VENTURE:TVL) reports that due to the oversubscription of its previously announced non-brokered private placement, the Corporation is increasing the size of its private placement of common shares of the Corporation ("Shares") to be issued on a "flow through" basis eligible for the renunciation of Canadian development expenses within the meaning of the Income Tax Act (Canada) at $0.84 per Share (the [Read more]
Report urges government work with aboriginals
VANCOUVER - A report commissioned by the federal government in an attempt to resolve an impasse with British Columbia First Nations over energy projects says trust and reconciliation need to be established between aboriginals and governments.The report by Doug Eyford says most First Nations communities in B.C. and Alberta see the value and economic opportunity in energy developments — but they want that development done in an environmentally sustainable way that acknowledges their [Read more]