CALGARY, Alberta and HONG KONG, July 16, 2015 /CNW/ -- The Board of Directors (the "Board") of Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKEX: 2012, TSX: SUO) is pleased to announce that, further to the Corporation's announcement of December 14, 2014, Mr. Hong Luo, a Director of the Corporation, has now obtained all necessary immigration approvals to allow him to assume the functions and responsibilities of the CEO of the Corporation effective immediately. Mr. Luo has also been [Read more]
News
Toro Oil & Gas Ltd. Announces Initial Closing of Production Volume Royalty Agreement with Source Rock Royalties Ltd.
Commences 2015 First Phase Drilling Program CALGARY, July 16, 2015 /CNW/ - Toro Oil & Gas Ltd. (TSXV: TOO) ("Toro" or the "Company") has closed the previously announced binding production volume royalty ("PVR") to Source Rock Royalties Ltd. ("Source Rock") for gross proceeds of $8 million. The additional $4 million PVR with Source Rock is targeted to close on or around July 31, 2015, for total proceeds of $12 million. The total proceeds will be used to fund the Company's 2015 drilling program [Read more]
Nexen Responds to a Pipeline Failure Near its Long Lake Facility in Alberta
CALGARY, ALBERTA--(Marketwired - July 16, 2015) - Nexen Energy ULC (Nexen) is responding to an incident at its Long Lake oil sands facility south of Fort McMurray. In the afternoon of July 15, 2015, an emulsion leak from a pipeline was discovered within Nexen's Long Lake operations. Our emergency response plan has been activated and our response personnel are onsite. The leak has been stabilized and the site is under control. The size of the spill is estimated to be 5,000 m3 of emulsion, [Read more]
Rush Lake Thermal Project Starts Production Eight Weeks After Steaming
CALGARY, AB--(Marketwired - July 16, 2015) - Husky Energy (TSX: HSE) has commenced production at the Rush Lake heavy oil thermal project in Saskatchewan. First oil at the 10,000 barrels per day (bbls/day) development was achieved eight weeks following the startup of steaming operations and just two years after project sanction. "Rush Lake joins an expanding lineup of thermal projects that are providing solid returns even in a low oil price environment," said CEO Asim Ghosh. "Our proven [Read more]
AER Responding to a Pipeline Failure Near Fort McMurray
CALGARY, ALBERTA--(Marketwired - July 16, 2015) - The Alberta Energy Regulator (AER) is responding to a Nexen pipeline failure approximately 36 km south east of Fort McMurray. The company reported that an initial estimated emulsion volume of 5000m3 was released as a result of the pipeline failure. The pipeline and pad site have been isolated and shut in, effectively stopping the source of the release. Nexen has initiated its emergency response plan, has established containment of the [Read more]
NEB issues list of Aboriginal Intervenors for Energy East
CALGARY, July 16, 2015 /CNW/ - The National Energy Board (NEB) has issued the list of approved Aboriginal Intervenors in the Energy East project and has offered to begin collecting oral traditional evidence. "Aboriginal groups have an oral tradition for sharing stories, lessons and knowledge from generation to generation. The NEB is committed to hearing from Aboriginal groups in a way that respects their values and traditions," says NEB Chair and CEO, Peter Watson. Collecting relevant [Read more]
Petromin Announces Acquisition of Gross Overiding Royalty
VANCOUVER, July 16, 2015 /CNW/ - Petromin Resources Ltd. ("Petromin" or the "Company") is pleased to announce that it has entered into an agreement with Aboriginal Financial Services Corporation ("AFSC"), to acquire and terminate AFSC's existing 1.5% gross overriding royalty interest (the "Acquisition") held on Petromin's Frog Lake property in East-Central Alberta. In consideration for the Acquisition, Petromin will issue 500,000 common shares of the Company to AFSC. Completion of the [Read more]
Ivanhoe Energy Inc. Announces Acquisition Opportunity
CALGARY, July 16, 2015 /CNW/ - Pursuant to an order of the Court of Queen's Bench of Alberta (the "Court") made June 16, 2015, KPMG Inc. in its capacity as Court-appointed receiver (the "Receiver") of Ivanhoe Energy Inc. ("Ivanhoe" or the "Company"), is soliciting written proposals for the acquisition of the Company's assets and/or shares, in accordance with a sale and investor solicitation process approved by the Court on July 13, 2015, either en bloc or parts thereof. Primary assets offered [Read more]
Energy to take centre stage at meeting of provincial and territorial leaders
ST. JOHN'S, N.L. - Several of Canada's premiers say they're hopeful a Canadian Energy Strategy can be reached Friday despite regional differences on vocal display at their yearly meeting.Paul Davis, premier of Newfoundland and Labrador, said the provincial and territorial leaders made strides Thursday but need more time."I'm very optimistic about the discussions we've had today," he told reporters after the first full day of the Council of the Federation gathering in St. John's, N.L.Agreement on [Read more]
High North Resources Ltd. Announces Completion of Plan of Arrangement
CALGARY, ALBERTA--(Marketwired - July 15, 2015) - High North Resources Ltd. (TSX VENTURE:HN) (the "Company" or "High North") is pleased to announce the completion of the previously announced plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) (the "BCBCA") with holders ("Debentureholders") of its 12.00% convertible unsecured subordinated debentures (the "Debentures"). The Arrangement was effective as at 12:01 a.m. (Vancouver time) (the "Effective [Read more]