CALGARY, ALBERTA--(Marketwired - March 11, 2014) - Zargon Oil & Gas Ltd. ("Zargon" or the "Company") (TSX:ZAR)(TSX:ZAR.DB) HIGHLIGHTS FROM THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2013 Fourth quarter 2013 funds flow from operating activities of $12.15 million ($0.40 per basic share) were 26 percent lower than the $16.45 million ($0.55 per basic share) recorded in the prior quarter due primarily to significantly lower oil field price realizations from [Read more]
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Arsenal Energy Inc. Announces 2013 Fourth Quarter and Year End Results
CALGARY, ALBERTA--(Marketwired - March 11, 2014) - Arsenal Energy Inc. (TSX:AEI) (PINKSHEETS:AEYIF) is pleased to release its Q4 and full year 2013 financial and operating results and its 2013 yearend reserves. SUMMARY OF FINANCIAL AND OPERATIONAL RESULTS Three Months Ended December 31 Year Ended December 31 (ooo'S Cdn. $ except per share amounts) 2013 2012 % Change 2013 2012 % Change FINANCIAL Oil and gas [Read more]
Oil truck spills 18,000 litres of crude on highway in east-central Alberta
VETERAN, Alta. - Crews are busy cleaning up a gooey mess after a tanker truck spilled 18,000 litres of oil in east-central Alberta.RCMP say the truck rolled over on Highway 884 south of Veteran late Monday afternoon.The rollover caused a breach in the tank and the oil spilled onto the surrounding snow.The driver was treated at the scene for minor injuries.Crews are using backhoes, loading vehicles and hydrovac trucks to recover the oil.Alberta Environment says the spill doesn't pose any health [Read more]
Keystone delays seen keeping investment away from junior energy space
CALGARY - Uncertainty over the Keystone XL pipeline is a "black mark" that's been keeping investors away from the Canadian junior energy space, says a Calgary investment banker.The sentiment may not be entirely logical, with several other alternatives on the table to get oil to lucrative markets, such as rail and a host of other pipeline proposals.But Sonny Mottahed, CEO and managing partner at Black Spruce Merchant Capital, said there's a "big psychology component" at play."The psychology of [Read more]
Advantage Announces Glacier 2013 Reserves Additions Replace 840% of Production, Achieves 135 mmcfe/d Phase VI Production Ahead of Schedule with Capital Spending Below Budget
CALGARY, March 11, 2014 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to report strong year end 2013 reserve additions for its Montney resource property at Glacier, Alberta ("Glacier"). Proven plus probable ("2P") reserve additions were achieved at a finding and development cost of $1.33/mcfe ($7.99/boe) and a recycle ratio of 2.1. Total 2P reserves are up 20% to 1.7 trillion cubic feet ("Tcfe"). We are also pleased to report Glacier production reached our [Read more]
Kelt Reports Financial and Operating Results for the Year Ended December 31, 2013
CALGARY, ALBERTA--(Marketwired - March 11, 2014) - Kelt Exploration Ltd. (TSX:KEL) ("Kelt" or the "Company") has released its financial and operating results for the quarter and year ended December 31, 2013. The Company's financial results are summarized as follows: (CA$ thousands, except as otherwise indicated) Three months ended December 31, 2013 Year ended December 31, 2013 Revenue, before royalties and financial instruments 18,543 46,656 Funds from [Read more]
Blackbird Energy and Pennant Energy Announce Receipt of Interim Court Order for Proposed Business Combination and Filing of Meeting Materials for Pennant Shareholders Meeting
CALGARY, ALBERTA and VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 11, 2014) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird") and Pennant Energy Inc. (TSX VENTURE:PEN) ("Pennant") are pleased to announce that they have obtained an Interim Order (the "Interim Order") of the Supreme Court of British Columbia (the "Court") with respect to their proposed plan of arrangement (the "Arrangement") pursuant to the Business Corporations Act (British Columbia) (the "Act"). The TSX Venture [Read more]
MGM Energy Corp. Announces Receipt of Proposal From Paramount Resources Ltd.
CALGARY, ALBERTA--(Marketwired - March 11, 2014) - MGM Energy Corp. (TSX:MGX) ("MGM Energy" or the "Company") today announced that the Company has received a proposal (the "Proposal") from Paramount Resources Ltd. ("Paramount") to purchase all of the common shares of the Company not currently owned by Paramount. Under the Proposal, all shareholders of MGM Energy would receive one Class A Common Share of Paramount for every 300 common shares of MGM Energy. Based on the current trading price of [Read more]
Oil little changed near $101 a barrel after tumble on weak China trade figures
The price of oil was little changed near $101 a barrel Tuesday after tumbling because of data suggesting China's economy might continue to slow this year. Benchmark U.S. crude for April delivery was up 19 cents to $101.31 a barrel at 0655 GMT in electronic trading on the New York Mercantile Exchange. The contract fell $1.46 to close at $101.12 on Monday after China reported a steep drop in February exports. Brent crude, used to set prices for international varieties of crude, was up 12 [Read more]
Lightstream Announces 2013 Funds Flow from Operations of $671 Million
CALGARY, ALBERTA--(Marketwired - March 10, 2014) - Lightstream Resources Ltd. (TSX:LTS) (the "Company" or "Lightstream") is pleased to announce our fourth quarter and year-end 2013 financial and operating results. FINANCIAL & OPERATING HIGHLIGHTS In this press release, annual comparisons are 2013 compared to 2012 and quarterly comparisons are fourth quarter 2013 compared to fourth quarter 2012, unless otherwise noted. All references to well counts are on a net basis. Average daily [Read more]