CALGARY, ALBERTA--(Marketwired - Aug. 31, 2015) - Artisan Energy Corporation ("Artisan" or the "Corporation") (TSX VENTURE:AEC) is pleased to announce that it has closed the initial tranche of its previously announced brokered private placement of common shares ("Private Placement") with Richardson GMP Limited ("Richardson GMP") as agent. Artisan has issued 3,744,000 common shares at a price of $0.10 per common share for aggregate gross proceeds of $374,400. Artisan expects [Read more]
News
New North Resources announces two acquisitions
New North Resources is pleased to announce that during August 2015, the Company closed two deals, as follows: - Purchase of shallow gas assets that produced approximately 200 BOED (94% natural gas), from a Public Company. - The Company acquired all of the issued and outstanding shares of Speargrass Energy Inc., With current production of 130 BOED (87 % natural gas). [Read more]
NDP has largest budget deficit ever at $9.1B
Alberta’s finance minister said earlier today the province is on track to record a $5.9-billion deficit this year as the oil crunch hits families and businesses. Joe Ceci released figures for the first three months of the 2015-16 fiscal year which began April 1. “There is no doubt many Alberta families and businesses are feeling the effects of the dramatic drop in oil prices,” said Ceci. “That’s why our government is focused on building a plan for job creation and diversification of our [Read more]
MEG Energy provides an update on the Corporation’s deleveraging process
CALGARY, AB--(Marketwired - August 31, 2015) - MEG Energy Corp. (TSX: MEG) announces today that it has formed a committee of the board of directors and has retained BMO Capital Markets and Credit Suisse. The committee and the financial advisors will assist management in the review of options available to the Corporation to utilize its interest in the Access Pipeline to reduce the financial leverage of the Corporation. The committee consists of Boyd Anderson, Jeff McCaig and Jim McFarland. While [Read more]
Saskatchewan projecting $292M deficit; province blames wildfires, low oil prices
REGINA - Saskatchewan is forecasting a $292-million deficit this year mainly due to low oil prices and the cost of fighting wildfires that forced thousands of people from their homes this summer.Finance Minister Kevin Doherty announced the red ink Monday in the province's first-quarter report for the 2015-16 fiscal year.The government projected a surplus of just under $107 million in its March budget."Lower oil prices combined with an unprecedented number of forest fires and the largest [Read more]
WTI soars 6.43%
WTI is up again today after a strong rally closing last week. Currently sitting at $48.16, the price of oil is up close to ten dollars from $38.34 compared to last Monday. The rise comes as the EIA reported estimates of U.S. crude oil production in June 2015 at 9.3 million barrels per day (b/d), a decrease of approximately 100,000 b/d from the revised May 2015 figure. The largest revisions in volume include decreases of oil production in Texas (ranging from about 100,000 b/d to [Read more]
Groundstar Resources Limited Provides Corporate Update
CALGARY, ALBERTA--(Marketwired - Aug. 31, 2015) - Groundstar Resources Limited (the "Company") (TSX VENTURE:GSA) today announced that its audited annual financial statements, CEO and CFO certifications and management discussion & analysis (the "Annual Filings") for the year ended April 30, 2015 were not released as scheduled on August 28, 2015. It is now anticipated that the release will occur on or about September 15, 2015. The Company is late in the preparation of the Annual Filings due to [Read more]
Scotiabank predicts sub-US$50 a barrel oil for the next 12 months
CALGARY - Oil companies are in for at least another year of pain, according to Scotiabank's latest commodity price index.West Texas Intermediate crude is expected to stay below US$50 a barrel for the next 12 months, vice-president and commodity market specialist Patricia Mohr said in the report Monday.She sees some recovery to around US$55 a barrel by the end of next year."Global oil demand in 2015 has advanced at the fastest pace in five years... but a supply-side adjustment — necessary to [Read more]
Northern Spirit Resources Inc. Announces Second Closing of Private Placement Financing and Appointment of Vice President, Finance & Chief Financial Officer
CALGARY, ALBERTA--(Marketwired - Aug. 31, 2015) - Northern Spirit Resources Inc. ("Northern Spirit" or the "Corporation") (TSX VENTURE:NS) is pleased to announce that it has closed the second tranche of the previously announced non-brokered private placement ("Private Placement"), issuing an aggregate of (i) 18,885,089 common shares in the capital of the Corporation ("Common Shares") at a price of $0.03375 per Common Share and (ii) 3,498,785 units of the Corporation ("Units") at a price of [Read more]
Madalena announces grant of options and executive appointment
TSXV Trading Symbol: MVNOTC Trading Symbol: MDLNF CALGARY, Aug. 31, 2015 /CNW/ - Madalena Energy Inc. ("Madalena" or the "Corporation") announces the grant of 15,563,158 options ("Options") to certain officers, employees and directors of the Corporation and its subsidiaries as part of its compensation procedures. Of the Options granted, a total of 15,163,158 Options were granted to directors and executive officers of the Corporation or its subsidiaries. The grant of options is the first [Read more]