EDMONTON - Amidst rising rhetoric over the Keystone XL pipeline, Alberta Premier Alison Redford clarified Tuesday that she isn't urging the federal government to impose a national tax on carbon emissions. "I am in no way advocating any sort of a national carbon tax. That's for other governments to decide," Redford said at the legislature. Redford made the comment following a Postmedia news story quoting her talking about such a plan while in Ottawa on Monday. Redford said her [Read more]
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Tourmaline Oil Corp. Announces Record Year End 2012 Financial Results
CALGARY, ALBERTA--(Marketwire - March 19, 2013) - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") achieved exceptional growth in reserves (69%), production (64%) and cash flow(1) (16%) in 2012 while delivering strong profitability in a year of significantly lower natural gas prices. The Company posted strong after-tax earnings of $15.5 million for the 2012 fiscal year. Highlights 2012 average production of 50,804 boepd represented a 64% increase over the 2011 average [Read more]
Advantage Announces New Natural Gas Commodity Price Hedges
(TSX: AAV, NYSE: AAV) CALGARY , March 19, 2013 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") announces that it has entered into new natural gas commodity price hedges for 2014 and 2015. Advantage has now hedged the following average production volumes at the corresponding averages prices for the periods as follows: Period Average Volume Hedged Average Price $Cdn. AECO 2013 Year 29,224 [Read more]
Arsenal Energy Inc. Announces 2012 Fourth Quarter and Year End Results
CALGARY, ALBERTA--(Marketwire - March 19, 2013) - Arsenal Energy Inc. (AEI.TO) (AEYIF) Arsenal is pleased to release its Q4 and full year 2012 financial and operating results. Q4 2012 is highlighted by an 18% increase in cash flow from operations to $10.0 million from $8.4 million generated in Q4 2011. The cash flow increase is primarily due to a 42% increase in light oil production. SUMMARY OF FINANCIAL AND OPERATIONAL RESULTS Three Months Ended December 31 Year Ended [Read more]
Harper names envoy to deal with First Nations concerns on Gateway
OTTAWA - Prime Minister Stephen Harper has named an envoy to defuse the tension between First Nations and the energy and pipeline industry that threatens his plan to quickly develop Canada's natural resources. Vancouver-based lawyer Doug Eyford will focus on energy infrastructure in Western Canada and submit a preliminary report directly to Harper by the end of June and a final report by the end of November. He is to examine First Nations concerns about the troubled Northern [Read more]
Pinecrest Energy Inc. announces its December 31, 2012 Year End Results and 2012 Year End Reserves
TSX Venture Exchange: PRY CALGARY, March 18, 2013 /CNW/ - Pinecrest Energy Inc. ("Pinecrest" or the "Company") is pleased to announce that it has filed on SEDAR its audited annual financial statements, related Management's Discussion and Analysis ("MD&A") and Annual Information Form for the year ended December 31, 2012. The statements will be available for review at www.sedar.com or www.pinecrestenergy.com. 2012 HIGHLIGHTS Increased proved plus probable reserves by 107% to 16.2 mmboe [Read more]
Legacy Oil + Gas Inc. announces year-end results and files annual information form
CALGARY , March 18, 2013 /CNW/ - Legacy Oil + Gas Inc. ("Legacy" or the "Company") (LEG.TO) is pleased to announce it has filed on SEDAR its audited financial statements and related Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2012 as well as its annual information form ("AIF") for the year ended December 31, 2012 . Selected financial and operational information is outlined below and should be read in conjunction with Legacy's audited financial statements, [Read more]
LGX Oil + Gas Inc. Announces Year-end Results, Reserve Information, 2013 Guidance and Files Annual Information Form
CALGARY, March 18, 2013 /CNW/ - LGX Oil + Gas Inc. ("LGX" or the "Company") (TSXV:OIL.V) is pleased to announce it has filed on SEDAR its audited financial statements and related Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2012 as well as its annual information form ("AIF") for the year ended December 31, 2012. Selected financial and operational information is outlined below and should be read in conjunction with LGX's audited financial statements, the [Read more]
More inspections, tougher pollution penalties for oil tanker traffic
VANCOUVER - The federal government is announcing changes to improve oil tanker safety to shore up support for controversial oil exports off the British Columbia coast. The changes include annual tanker inspections, increased aerial surveillance and stronger measures for pollution prevention and response at oil handling facilities. Pollution penalties will be extended and Ottawa will create a tanker safety expert panel to review the current regime and make further [Read more]
Canada U.S. ties would suffer from a Keystone rejection: Redford
OTTAWA - A U.S. rejection of the Keystone XL pipeline proposal would have far-reaching implications for the Canada-U.S. relationship, Alberta Premier Alison Redford warns. In an interview with The Canadian Press on Monday, Redford said Canada and the United States have a long history of economic integration that would be thrown into question by a 'No' to the pipeline. "This is fundamental and I don't think this is as simple as yes or no on a project," she said during a three-day [Read more]