CALGARY, Alberta, Aug. 26, 2015 (GLOBE NEWSWIRE) -- Quattro Exploration and Production Ltd. (TSX-V:QXP) ("Quattro" or the "Company") is pleased to announce the filing of its second quarter 2015 financial statements, reporting net earnings of CDN $0.04 per share. The Company reported the following results for the 3 months ending June 30th, 2015: • Revenues $3,464,190 • Net income from operations, $ 12.55 per boe "Net [Read more]
News
Northern Spirit Resources Inc. Announces Details of Rights Offering
CALGARY, ALBERTA--(Marketwired - Aug. 26, 2015) - Northern Spirit Resources Inc. (the "Company")(TSX VENTURE:NS) announced today that it has set September 8, 2015 as the record date (the "Record Date") for the previously announced rights offering (the "Rights Offering") to the registered holders of common shares of the Company ("Common Shares"). Pursuant to the Rights Offering, each registered holder of Common Shares on the Record Date will receive one transferable right (a [Read more]
Anterra Energy Announces Second Quarter 2015 Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - Aug. 26, 2015) - Anterra Energy Inc. ("Anterra" or the "Company") (TSX VENTURE:AE.A) is pleased to announce its financial and operating results for the three and six months ended June 30, 2015. Selected information presented below, should be read in conjunction with the Company's unaudited financial statements and related management's discussion and analysis filed with the Canadian regulatory authorities and available on SEDAR at www.sedar.com and on the [Read more]
Revenues could be down more than previous government predicted: Alberta premier
CALGARY - Alberta Premier Rachel Notley says continued oil-price volatility could be affecting the province's bottom line even more than the former Tory government predicted.The NDP premier isn't sharing much about what might be in the 2015-16 budget when it comes down in October.But she does says keeping on top of oil prices remains a priority.The price per barrel hovered around US$60 when Notley's New Democrats were elected in May, but has since fallen to below US$40 a barrel.The budget [Read more]
Schlumberger buying Cameron International in cash and stock deal worth about $12.71B
HOUSTON - Schlumberger is buying Cameron in a cash-and-stock deal valued at about $12.71 billion that would create an oilfield equipment and service powerhouse.Cameron was the maker of the blowout preventer on the ill-fated Deepwater Horizon rig, which was rocked by an explosion and fire in 2010 that killed 11 workers and touched off an enormous oil spill.Cameron International Corp. shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 for each of their [Read more]
Leucrotta Exploration Inc.: Q2 2015 Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - Aug. 26, 2015) - LEUCROTTA EXPLORATION INC. (TSX VENTURE:LXE) ("Leucrotta" or the "Company") is pleased to announce its financial and operating results for the three and six months ended June 30, 2015. All dollar figures are Canadian dollars unless otherwise noted. HIGHLIGHTS Increased cash and working capital to $83.5 million by sale of assets for $79.3 million Increased Montney land position in the Greater [Read more]
Canamax Announces Financial and Operating Results for the Second Quarter Ended June 30, 2015
CALGARY, AB--(Marketwired - August 26, 2015) - Canamax Energy Ltd. ("Canamax" or the "Company") (TSX VENTURE: CAC) is pleased to announce the Company's financial and operational results for the interim period ended June 30, 2015. Highlights During Q2 2015 and through July 2015, Canamax completed a number of material transactions which resulted in the Company significantly increasing its production base and achieving a debt free financial position at July 30, 2015. These transactions are [Read more]
With crude dipping below U$40 a barrel, reserve writedowns likely in store
CALGARY - Another wave of ugly news is looming for oil producers already battered by weak oil prices.Every year, companies hire outside evaluators to tally up their reserves — a calculation of how much resource in the ground can be recovered technically and economically.With U.S. benchmark crude dipping below US$40 a barrel for the first time since early 2009, the economics are looking especially dicey these days. Oil that might have been viable to produce at stronger prices may not be [Read more]
Sunshine Oilsands Ltd. Announces Update on Recent Private Placement Activities
CALGARY, Alberta and HONG KONG, Aug. 25, 2015 /CNW/ -- PRIVATE PLACEMENT TO NON-CONNECTED PARTIES Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKEX: 2012, TSX: SUO) wishes to announce that based on current adverse market conditions, the private placement of HK$155,028,000 of Common Shares of the Corporation to Grand East Wealth Investment Co., Ltd. and City Legend Group Limited (collectively, the "Subscribers") has been mutually terminated by Sunshine and the Subscribers. [Read more]
Oil industry crash already longer than collapse of 2008
It has now been seven years since the 2008 Great Financial Crisis swept markets across the world. Closely rivalling the depths of the Great Depression, the market turmoil of 2008 was truly a difficult time for many of the world's leading and developing economies. Rising from the wreckage of 2008 has been a slow and arduous process for many different industries, with many hoping that such a precipitous drop in asset valuations would indeed remain a once in a generation event. For the oil and [Read more]