FREDERICTON - Alberta Premier Alison Redford says Canada's biggest challenge is to improve access to international markets as she steps up efforts to promote a proposal to ship oil to Eastern Canada.Redford spoke to the New Brunswick legislature in Fredericton today, where she said Alberta's lack of direct access to a coastal shipping route contributed to a $6 billion slide in her province's revenues this year.She will also speak to members of the Saint John Board of Trade and tour the [Read more]
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Sonde Resources Corp. Announces Further Extension of Farm-Out of Joint Oil Block
CALGARY, ALBERTA--(Marketwired - June 7, 2013) - Sonde Resources Corp. ("Sonde" or the "Company") (TSX:SOQ) (NYSE MKT:SOQ) announced today that the original Farm-Out Agreement with Viking Energy North Africa Limited ("Viking") has been extended by mutual agreement until July 31, 2013. An extension of the closing date for the Farm-Out Agreement was obtained to allow the parties to complete the negotiation of the documentation reflecting the amendments required by the Joint Oil Board of Directors [Read more]
Crescent Point Energy Announces Board Member Changes
CALGARY, ALBERTA--(Marketwired - June 6, 2013) - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX:CPG) announces that Paul Colborne has resigned from his role as a director of the Company, effective immediately. Mr. Colborne has resigned to enable him to focus on new commitments in the oil and gas industry. Crescent Point thanks Mr. Colborne for his many contributions to the Company and for his outstanding leadership and dedication. Mr. Colborne was a founder of [Read more]
Cenovus recognized as a leader in corporate responsibility
CALGARY, June 6, 2013 /CNW/ - Cenovus Energy Inc. (TSX, NYSE: CVE) has been recognized once again as one of the country's most responsible companies. Today, Maclean's magazine and Sustainalytics ranked Cenovus among the Top 50 Socially Responsible Corporations in Canada for the second year in a row. In a separate ranking, Corporate Knightsmagazine recognized Cenovus as one of the Best 50 Corporate Citizens in Canada for the third consecutive year. "At Cenovus, we believe that how we do our work [Read more]
Epsilon Energy Ltd. Acquires Operating Partner’s Interest in Saskatchewan Joint Venture
CONCORD, ONTARIO--(Marketwired - June 6, 2013) - Epsilon Energy Ltd. ("Epsilon") (TSX:EPS) is pleased to announce it has acquired its operating partner's 50% joint venture interest in Saskatchewan for CAD $2.4 million. The transaction will increase Epsilon's leasehold interests in Saskatchewan from approximately 28,234 net acres to 49,007 net acres. In addition, Epsilon will acquire all oil production, third party agreements, well interests and equipment. The joint venture was formed in [Read more]
B.C. opposition to Northern Gateway puts focus on west east pipeline: NB Premier
FREDERICTON - British Columbia's opposition to the Northern Gateway project puts greater attention on a proposal to build a west-to-east oil pipeline, New Brunswick Premier David Alward said on the eve of a meeting with his Alberta counterpart, Alison Redford.The two will get together Friday to discuss the idea of shipping oil from Alberta as far east as Saint John in their continued efforts to promote a development they say will bring jobs and ensure greater energy security for the [Read more]
Argosy Energy Inc. Announces Receivership and Resignation of Directors
CALGARY, ALBERTA--(Marketwired - June 6, 2013) - Argosy Energy Inc., (TSX:GSY) which includes its wholly owned subsidiary, Radius Resources Corp. (the "Company") announces that, pursuant to an order of the Court of Queen's Bench of Alberta (the "Court") dated May 30, 2013, FTI Consulting Canada Inc. has been appointed as the receiver and manager of all of the Company's assets, undertakings and property. In addition, the Court has approved the transactions (the "Transactions") [Read more]
Report urges government to halt future Chinese takeovers of Canadian firms
OTTAWA - A new report from Calgary's School of Public Policy is warning the government against approving any more takeovers from Chinese state-owned companies.The paper by economist Duanjie Chen argues that Chinese state-owned enterprises are agents of the Chinese regime and do not play by the same rules as Canadian companies, or those from most Western countries.The report comes after Ottawa gave China National Offshore Oil Co. the green light to acquire oil producer Nexen Inc., but [Read more]
Natural gas storage builds well above expectations, prices get slammed
Working gas in storage was 2,252 Bcf as of Friday, May 31, according to EIA estimates. This represents a net change of +111 Bcf, well above analyst estimates of ~=90 Bcf. As a result, Natural gas futures on NYMEX dropped nearly 4% Thursday morning to $3.85. Here's the details courtesy EIA: [table] [attr style="width: 25%"]`[attr style="width: 25%"]May 31`[attr style="width: 25%"]May 24`[attr style="width: [Read more]
Perpetual Energy Inc. Announces Normal Course Issuer Bid for its 7.25% and 7.00% Convertible Debentures
CALGARY, June 6, 2013 /CNW/ - (TSX: PMT) - Perpetual Energy Inc. ("Perpetual") announced today that the TorontoStock Exchange ("TSX") has accepted Perpetual's Notice of Intention to make a Normal Course Issuer Bid (the "Bid") to purchase for cancellation, from time to time, as Perpetual considers advisable, up to a maximum of $7,536,000 principal amount of 7.25% convertible extendible unsecured subordinated debentures (the "7.25% Debentures") and $3,873,000principal amount of 7.00% convertible [Read more]