CALGARY, May 28, 2013 /CNW/ - Insignia Energy Ltd. ("Insignia" or the "Company") (TSX: ISN) is pleased to announce that, further to its May 6, 2013 press release, it has now entered into a formal arrangement agreement (the "Arrangement Agreement") with Brookfield Capital Partners Ltd. ("Brookfield") and ISN Acquisition Corp. ("Acquireco"), a wholly-owned subsidiary of Brookfield, to privatize Insignia. Pursuant to the Arrangement Agreement, Acquireco will acquire all of the issued and [Read more]
News
ERCB Approves Shell Waterton Applications With Conditions
CALGARY, ALBERTA--(Marketwired - May 28, 2013) - The Energy Resources Conservation Board (ERCB) has issued Decision 2013 ABERCB 009, which approves, with conditions, Shell Canada Limited's applications to construct and operate two pipelines and a single gas well battery in the Beaver Mines area of southern Alberta. The approved pipelines are approximately 1.2 km in length and are required by Shell to produce the company's existing Waterton 68 well approved by the ERCB in 2011. The ERCB [Read more]
Poseidon Concepts Corp. Announces Entering Into an Asset Purchase Agreement With Rockwater Energy Solutions for the Sale of its Business Assets
CALGARY, ALBERTA--(Marketwired - May 28, 2013) - Poseidon Concepts Corp. ("Poseidon" or the "Company") announced today that it has entered into an Asset Purchase Agreement ("APA") with Rockwater Energy Solutions, Inc. ("Rockwater") of Houston, Texas, to purchase substantially all of the assets of Poseidon's high capacity water storage and containment systems business (the "Sale Transaction"). Rockwater is a water, fluids and environmental solutions provider offering customized products and [Read more]
Saudi’s hit record production in 2012
RIYADH, Saudi Arabia (AP) — Saudi Arabia’s state-owned oil giant says production reached a record level last year as global demand surged and international sanctions sharply trimmed output from rival Iran. Gulf Arab states have stepped up crude production to compensate for Iranian exports, which have dropped as major customers such as India and China face pressures from the West to trim their purchases from Tehran. Sanctions over Iran’s nuclear program have targeted Tehran’s critical oil [Read more]
Enbridge Increases Size of Preferred Share Offering
CALGARY, ALBERTA--(Marketwired - May 28, 2013) - Enbridge Inc. (TSX:ENB)(NYSE:ENB) today announced that as a result of strong investor demand for its previously announced offering of cumulative redeemable preference shares, series 3 (the "Series 3 Preferred Shares"), the size of the offering has been increased to 24 million shares. The aggregate gross proceeds will be C$600 million. Closing of the offering is expected on June 6, 2013. The holders of Series 3 Preferred Shares will be [Read more]
Birchcliff Energy Ltd. Announces Marketed Preferred Share Offering
CALGARY, ALBERTA--(Marketwired - May 28, 2013) - Birchcliff Energy Ltd. ("Birchcliff" or the "Corporation") (TSX:BIR) is pleased to announce that it has filed and obtained a receipt for a preliminary short form prospectus (the "Preliminary Prospectus") in connection with a proposed marketed offering of cumulative redeemable preferred shares, Series C ("Preferred Shares, Series C") at a price of $25.00 per Preferred Share, Series C (the "Offering"). Holders of the Preferred Shares, Series C [Read more]
Up to $9B could be lost if Keystone cancelled
TORONTO (Canadian Press) - A Canadian bank estimates that the cancellation or a continuing delay of the Keystone XL pipeline could endanger more than $9 billion of oilsands investment over the next seven years.RBC Dominion Securities — part of the group that includes Royal Bank of Canada (TSX:RY) — says a negative decision on the pipeline would be felt by construction, engineering and project management companies, among othersIt estimates the financial hit would be somewhere between $8 billion [Read more]
Strata Oil Adds 1.4 Billion Barrels to Its Resource Base
CALGARY, ALBERTA--(Marketwired - May 28, 2013) - Strata Oil & Gas Inc. (OTCQB:SOIGF) is pleased to announce the completion of its 51-101 compliant Technical Resource Evaluation of the 22 sections (approximately 14,080 acres) of its Cadotte West holdings in the Peace River region of Alberta, Canada. This resource evaluation adds 1.4 billion barrels of Petroleum-Initially-In-Place (PIIP as per COGE Handbook definition) to Strata's present resource base bringing it to a total of 3.4 billion [Read more]
Hemisphere Energy Announces First Quarter 2013 Results
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 28, 2013) - Hemisphere Energy Corporation (TSX VENTURE:HME) is pleased to announce its financial and operating results for the three months ended March 31, 2013. Selected financial and operational highlights should be read in conjunction with Hemisphere's condensed interim Financial Statements and related Management's Discussion and Analysis for the three months ended March 31, 2013. These reports are available on SEDAR atwww.sedar.com and on [Read more]
Lone Pine Resources Announces Updated Corporate Presentation and Additional Information on Hutch Slave Point Light Oil Exploration Prospect
CALGARY, ALBERTA--(Marketwired - May 28, 2013) - Lone Pine Resources Inc. ("Lone Pine" or the "Company") (TSX:LPR)(NYSE:LPR) today announced that an updated corporate presentation is available in the Investor Relations section of the Company's website atwww.lonepineresources.com. The updated corporate presentation includes additional details regarding two of the Company's assets - the Hutch Slave Point light oil exploration prospect and the Pointed Mountain shale gas property in the Liard [Read more]