CALGARY, ALBERTA--(Marketwired - Feb. 26, 2014) - Canadian Spirit Resources Inc. (TSX VENTURE:SPI)(OTCBB:CSPUF) ("CSRI" or the "Corporation") is pleased to announce the results of the shareholder vote associated with the Annual General and Special Meeting of the Corporation held on February 19, 2014. Over 75% of the Corporation's shareholders voted and in excess of 95% voted in favour of each matter acted upon at the meeting, including the approval of Elmag Investments Inc. ("Elmag") as a [Read more]
News
Anti-keystone U.S. senators rant about Alberta oilsands: ‘Health miseries follow tar sands”
WASHINGTON - 'Horror stories' about the Alberta oilsands' impact on human health are being shared in Washington, D.C. A pair of anti-Keystone XL senators invited witnesses Wednesday to provide anecdotes about the effect on people near sites where the oil is extracted, transported and refined. They hope these human-interest stories might influence the Obama administration as it prepares its final decision on the Keystone XL pipeline. One of the speakers at the event was John O'Connor, an [Read more]
Joe Oliver to decide on Northern Gateway by mid-June
Natural Resources Minister, Joe Oliver, said on Tuesday he will decide whether to approve Northern Gateway by mid-June. On Dec. 19, the National Energy Board, recommended approving Enbridge's Northern Gateway pipeline. There's has been staunch opposition to the pipeline, though. First Nations groups and the BC government both oppose construction of the oil pipeline to the east coast. [Read more]
Alberta budget on track for 6th straight deficit despite stronger oil and gas revenues
EDMONTON - Alberta Finance Minister Doug Horner says the province will remain in the hole for the 6th straight year despite higher oil and gas revenues and a lower Canadian dollar. Horner says the province has borrowed $2.7 billion to pay for infrastructure. The rainy day savings contingency account is projected to be at $4.6 billion. Horner is to deliver the new provincial budget March 6. He says he plans to hold spending in place given the volatility of oil and gas revenues. [Read more]
How Junior Companies Survive in the Exploration Wild: Interview with Blackbird
Only the fittest can survive in today's market for junior oil and gas companies, which must demonstrate a great deal of ingenuity in the balancing of risk and reward. Nothing but the most exceptional oil and gas projects will win capital, and, in the words of one junior, this means “finding plays before they are exciting.” Being a junior in this market means being the best of the best, or being shut out entirely. The question is: Who is up to this make-or-break challenge, and who has the secret [Read more]
Palliser Oil & Gas Corporation Reports 2013 Year End Reserves, Operations Update, and Corporate Update
CALGARY, Feb. 25, 2014 /CNW/ - Palliser Oil & Gas Corporation ("Palliser" or the "Company") (TSXV: PXL) would like to provide information on its oil and gas reserves as of December 31, 2013 and an operations and corporate update. Highlights of Palliser's Year End 2013 Reserves are as follows: Generated one and four year average total proved plus probable finding, development and acquisition ("FD&A") costs of $24.90 and $22.45 respectively per boe including changes in future [Read more]
SilverWillow Energy Corporation announces an update to the estimate of Contingent Resources on the Audet Lands
CALGARY, Feb. 25, 2014 /CNW/ - SilverWillow Energy Corporation ("SilverWillow" or the "Corporation") is pleased to announce an update to its estimate of Contingent Resources and Discovered Bitumen Initially-In-Place following an independent evaluation of the bitumen resources attributable to its oil sands property, the Audet Lands, located approximately 110 km northeast of Fort McMurray, Alberta. Sproule Unconventional Limited ("Sproule") prepared the independent evaluation of the bitumen [Read more]
US federal emergency order requires tests of crude oil before shipment by train
WASHINGTON - Federal regulators issued an emergency order Tuesday requiring tests of crude oil before shipment by rail to determine how susceptible the cargo is to explosion or fire, a response to a string of train accidents since last summer involving oil from the Bakken region of North Dakota and Montana.The order also would place crude oil under the two most protective sets of hazardous materials shipping requirements, rather than allowing some shipments to be treated as less dangerous, the [Read more]
Connacher Reports Year-End 2013 Reserves
CALGARY, Feb. 25, 2014 /CNW/ - Connacher Oil and Gas Limited (TSX: CLL) ("Connacher" or the "Company") announces its year-end reserves as of December 31, 2013, as evaluated by GLJ Petroleum Consultants Ltd. ("GLJ"), independent qualified reserves evaluators. Proved producing reserves increased by 13 per cent to 22.5 million barrels with the inclusion of the recently drilled infill wells and well pairs at Pod One. Production in 2013 totaled 4.3 million barrels. Estimated proved ("1P") bitumen [Read more]
Petronas to sell 25% stake in Progress
Petronas has agreed to sell 25% stake in Progress Energy to a state-owned Indian Oil Corp and an Asian gas buyer. “I am pleased to announce that we have just finalized a further 25 per cent equity participation from an Indian party and an established Asian LNG buyer,” the Malaysian corporation's president and CEO Shamsul Azhar Abbas said at a conference in Singapore. According to reports, state-owned Indian Oil Corp will acquire a 10% stake for $1 billion, marking IOC's entry into [Read more]