CALGARY, ALBERTA--(Marketwired - June 2, 2014) - Not for distribution to U.S. newswire services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities law. Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline") is pleased to announce that it has completed its previously announced flow-through share financing. At closing, Tourmaline issued 1,150,000 common shares (of which 1,000,000 were issued on a "bought deal" basis [Read more]
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RedWater Continues to Increase Production and Cash Flow in First Quarter of 2014
OKOTOKS, ALBERTA--(Marketwired - June 2, 2014) - RedWater Energy Corp. ("RedWater") (TSX VENTURE:RED) is pleased to report record financial and operating results for the three month period ended March 31, 2014. Highlights Generated cash flow from operations of $249,551 in the first quarter of 2014 compared to a negative cash flow of ($41,010) in first quarter of 2013; Achieved an operating netback of $22.61 per boe in the first quarter of 2014, a 41.8% increase over the first quarter [Read more]
Oil rises above $103 after China reports improvement in manufacturing
Oil prices rose Monday on the prospect of increased demand from China after data showed an improvement in manufacturing.Benchmark U.S. oil for July delivery was up 58 cents to US$103.29 a barrel at 2:30 a.m. ET in electronic trading on the New York Mercantile Exchange. The contract fell 87 cents to close at $102.71 on Friday.Chinese data showed Sunday that manufacturing grew for the third consecutive month in May, suggesting a slowdown in the world's second-largest economy is stabilizing.The [Read more]
Not a ‘know-all:’ Tutu says he won’t tell Canadians what to do about environment
FORT MCMURRAY, Alta. - South African Archbishop Desmond Tutu says he has come to northern Alberta not as an expert on climate change, but hoping to bring people together on an issue that he says is crucial to the future of all creation."I don't come as a know-all who is going to pontificate and tell you Canadians what you must do," he told reporters Friday before opening a two-day conference on oilsands development and First Nations treaties in Fort McMurray."I think I can almost say, without [Read more]
Desmond Tutu goes to Fort McMurray, calls oilsands “filth” created by greed
FORT MCMURRAY, Alta. - Anglican archbishop Desmond Tutu has called Alberta's oilsands "filth" created by greed, and has urged all sides to work together to protect the environment and aboriginal rights."The fact that this filth is being created now, when the link between carbon emissions and global warming is so obvious, reflects negligence and greed," Tutu told more than 200 rapt attendees at a conference on oilsands development and treaty rights in Fort McMurray on Saturday."The oilsands are [Read more]
Quebec OKs initial surveys on Anticosti Island to see if it’s worth exploring
QUEBEC - The Quebec government has given the green light to go ahead with environmental assessments to see if it is possible to explore for oil on Anticosti Island.Natural Resources Minister Pierre Arcand said Friday about 15 surveys will be conducted on the island's soil this summer.More extensive work, including the drilling of three wells, will be done in the summer of 2015 if the results of a strategic environmental assessment on Anticosti Island are favourable.The activity is in conformity [Read more]
Crude oil falls below US$103 barrel; down 1.6% for the week on amble supplies
The price of oil fell below US$103 per barrel Friday on ample supplies of crude and fuels.Benchmark West Texas Intermediate crude for July delivery fell 87 cents to close at US$102.71 a barrel on the New York Mercantile Exchange. The contract closed down 1.6 per cent for the week, though it finished the month up nearly three per cent.Brent crude, a benchmark for international oil used by many U.S. refineries, fell 56 cents to close at US$109.41 a barrel in London.The price of crude was pulled [Read more]
PanTerra Resource Corp. Announces First Quarter Financial and Operating Results
TSX Venture Exchange: PRC CALGARY, May 30, 2014 /CNW/ - PanTerra Resource Corp.("PanTerra" or the "Corporation") has filed today on SEDAR its unaudited condensed interim financial statements and related management's discussion and analysis ("MD&A) for the three months ended March 31, 2014. The financial statements and MD&A will be available for review at www.sedar.com. On May 22, 2014, the Corporation completed a non-brokered private placement of $20 million and appointed a new [Read more]
Shoreline Energy Corp. Announces Forbearance Agreement With Acceleration Resources
CALGARY, ALBERTA--(Marketwired - May 30, 2014) - Shoreline Energy Corp. (TSX:SEQ) and its wholly owned US subsidiary Shoreline Energy Holdings II, Inc. (collectively "Shoreline" or the "Corporation") announces that it has entered into an Forbearance Agreement with its final senior secured lender, Acceleration Resources II, LP (the "Acceleration Forbearance"). The Acceleration Forbearance along with previously announced forbearance agreements with its senior lenders, will provide Shoreline with [Read more]
Long Run Exploration Ltd. Announces Closing of Previously Announced Acquisition of Strategic Long Life Assets
CALGARY, ALBERTA--(Marketwired - May 30, 2014) - Long Run Exploration Ltd. ("Long Run" or the "Company") (TSX:LRE) is pleased to announce the closing of the previously announced acquisition (the "Acquisition") of certain strategic oil and liquids-rich natural gas assets focused on the Cardium in the Deep Basin and Pine Creek areas of Alberta. Total consideration, after closing adjustments, was approximately $225 million, with a closing date of May 30, 2014 and an effective date of April 1, 2014. [Read more]