Nexen Energy is scheduled to update its cleanup efforts following a oil pipeline leak last week near its Long Lake oilsands facility. The spill was about 32,000 barrels of bitumen, sand and produced water and was discovered by a contractor last Wednesday near Nexen’s Long Lake oilsands facility, about 35 kilometres southeast of Fort McMurray. The company says the pipeline was installed last year and a warning system didn’t detect the leak. The affected area is about 4 acres. [Read more]
News
Tuscany Announces the Renewal of the Company’s Credit Facility, Unchanged, at $8.5 Million
CALGARY, ALBERTA--(Marketwired - July 22, 2015) - Tuscany Energy Ltd. (TSX VENTURE:TUS) is pleased to announce that following the annual review by the Company's lender, the Company's credit facility has been renewed at $8.5 million with its terms and amount remaining unchanged from the previous credit facility. Tuscany's net debt is currently approximately $6.5 million. [Read more]
Touchstone Announces Dawson Disposition and Confirms Credit Facility Borrowing Base
CALGARY, ALBERTA--(Marketwired - July 22, 2015) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX:TXP) announces that it has disposed of its interest in the Dawson area of Alberta for cash consideration of $2,150,000. The property was a non-producing legacy asset that was originally acquired for a potential THAI® project. In October 2014 Touchstone terminated a Dawson area cyclical steam pilot program based on uneconomic operating results. With the conclusion of the steam [Read more]
Tidewater Midstream and Infrastructure Ltd. Announces Closing of Acquisition and the Conversion of $210 Million of Subscription Receipts to Common Shares
CALGARY, ALBERTA--(Marketwired - July 21, 2015) - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX VENTURE:TWM) is pleased to announce the closing of its previously announced acquisition of a 63% operated working interest in a gas processing facility and related pipelines located in the West Pembina region in central Alberta (the "Acquisition") for $180 million. The $180 million is comprised of $170 million in cash and $10 million in common shares of [Read more]
Canamax Announces Filing of Final Short Form Prospectus Qualifying Distribution of Common Shares
CALGARY, AB--(Marketwired - July 21, 2015) - Canamax Energy Ltd. ("Canamax" or the "Company") (TSX VENTURE: CAC) is pleased to announce that it has obtained receipt from the Alberta Securities Commission, as principal regulator (the "Final Receipt") for the (final) short form prospectus filed in the provinces of Alberta, British Columbia, Saskatchewan, Manitoba, Ontario and Nova Scotia (the "Qualifying Provinces") qualifying the distribution of 21,724,268 common shares in the capital of the [Read more]
3MV Energy Announces Results from the Annual Meeting of Shareholders and Issuance of Shares
CALGARY, July 20, 2015 /CNW/ - 3MV Energy Corp. ("3MV" or the "Company") (TSXV: TMV) is pleased to announce that all matters set out in our management information circular dated June 8, 2015 for the 2015 Annual Meeting of Shareholders held on July 16, 2015 (the "Meeting") were approved by shareholders. The detailed results of the vote are set out below: Director Nominee Votes For % For Votes Withheld % Withheld Ronald B. [Read more]
Artisan Energy Announces Brokered Private Placement
CALGARY, ALBERTA--(Marketwired - July 20, 2015) - Artisan Energy Corporation ("Artisan" or the "Corporation") (TSX VENTURE:AEC) is pleased to announce that it has entered into an engagement letter with Richardson GMP Limited ("Richardson GMP") pursuant to which Richardson GMP will offer for sale, on a commercially reasonable efforts basis, up to 13,333,333 common shares of the Corporation at a price of $0.15 per common share for aggregate gross proceeds of up to $2,000,000 (the "Private [Read more]
Canada needs to expand crude oil market: Natural resources minister
HALIFAX - Canada needs to expand its market opportunities for crude oil now that a deal on Iran's nuclear program is expected to open up that country's oil supply to international trade, Natural Resources Minister Greg Rickford said Monday.Speaking during a press conference at the Energy and Mines Ministers' Conference in Halifax, Rickford said market access is not a priority, it's an imperative.He said Canada is well-positioned to expand its market given its political and economic [Read more]
Petromin announces private placement
VANCOUVER, July 20, 2015 /CNW/ - Petromin Resources Ltd. ("Petromin" or the "Company") is pleased to announce a non-brokered private placement (the "Private Placement") to raise aggregate gross proceeds of up to $300,000 through the issuance of up to 6,000,000 units (each a "Unit") at a price of $0.05 per Unit. Each Unit will be comprised of one common share of Petromin and one common share purchase warrant (a "Warrant"). Each Warrant will be exercisable to acquire one additional common share of [Read more]
A sobering look at the Alberta economy
The dominant theme for the energy sector in Alberta since the NDP took power has been a sweeping wave of uncertainty. Energy executives have been delaying investment decisions, and laying off employees. Until industry is comfortable with both energy price stability, and Provincial government policy, the uncertainty will remain. Under this fog of uncertainty, it has been difficult to quantify the damage done to the Alberta economy. Recent Provincial data, however, suggests that the Alberta [Read more]