In the age of derivatives, swaps, and electronic money transfers, a new form of warfare has emerged: financial warfare. Recently, the US has passed sanctions on countries such as Syria, Venezuela, and North Korea , but the majority of energy related sanctions passed have been targeted at Iran and Russia. An estimated 68 percent of Russia’s government revenue is derived from oil and gas exports, while 80 percent of Iran’s revenue comes from oil exports. That presents a very large target for [Read more]
News
Canadian LNG export prospects have ‘darkened,’ international report says
CALGARY - The outlook for Canada's liquefied natural gas industry over the next five years has "darkened," said a report released Thursday that casts clouds over British Columbia's LNG ambitions.The report by the International Energy Agency predicts Canada won't have any LNG export projects online by 2020, which would go against B.C.'s goal of having three LNG plants in operation by that time.The B.C. government has been betting big on LNG for economic growth. It has said it expects more than [Read more]
Waldron Energy Corporation Announces Extension of TSX Continued Listing Review
CALGARY, ALBERTA--(Marketwired - June 4, 2015) - Waldron Energy Corporation ("Waldron" or the "Corporation") (TSX:WDN) is pleased to announce that the Toronto Stock Exchange (the "TSX") has extended its delisting review of the Corporation's common shares for a period of 30 days. The TSX currently intends to make a decision regarding the Corporation's eligibility for continued listing on the TSX by July 3, 2015. This is an extension from the TSX's original review date of June 8, 2015, as [Read more]
Mountainview Energy Ltd. Announces Executive Change
CUT BANK, MT, June 3, 2015 /CNW/ - Mountainview Energy Ltd. ("Mountainview" or the "Company") (TSX-V: MVW) announces the departure of Mr. Brent Osmond, Vice President, Finance and Chief Financial Officer of the Company, effective immediately. The Company thanks Mr. Osmond for his service and wishes him success in the future. Ms. Katherine Hylland, CPA and Controller of the Company, has been appointed Interim Vice President, Finance and Chief Financial Officer. About [Read more]
Canadian Natural Resources Limited Prices C$500 Million in 5 Year Notes
CALGARY, ALBERTA--(Marketwired - June 3, 2015) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") announces that on June 3, 2015 it priced C$500 million principal amount of notes through the reopening of its 2.89% medium-term notes, series 2, due August 14, 2020 sold at a price of C$101.932 per $100 principal amount to yield 2.49% to maturity, which have been sold to investors in Canada. Net proceeds from the sale of the notes will be used for [Read more]
RMP Energy Provides Bank Credit Facility Update
CALGARY, ALBERTA--(Marketwired - June 3, 2015) - RMP Energy Inc. ("RMP" or the "Company") (TSX:RMP) is pleased to announce today that its bank syndicate group (the "Lenders"), in accordance with the annual redetermination process, has reaffirmed the existing $175 million conforming borrowing base under RMP's revolving credit facility. The bank credit facility represents the maximum amount that can be borrowed and is primarily based on: the Lender's assessment and analysis of RMP's proved crude [Read more]
BlackPearl Provides Corporate Update and Announces Renewal of Its Credit Facilities
CALGARY, ALBERTA--(Marketwired - June 3, 2015) - BlackPearl Resources Inc. ("BlackPearl" or the "Company") (TSX:PXX)(OMX:PXXS) is pleased to announce the renewal of its credit facilities and provide an update of its current operations. Corporate Update The Company is pleased to announce that it has commenced steam injection at its 6,000 barrel per day thermal EOR project at Onion Lake in Saskatchewan. This phase of the project includes 13 horizontal production wells on two well pad sites. [Read more]
Forent Energy to Acquire Private Resource Company and Plans Equity Offering of Up to $1 Million
CALGARY, ALBERTA--(Marketwired - June 3, 2015) - Forent Energy Ltd. (TSX VENTURE:FEN) ("Forent" or the "Company") is pleased to announce that the Company has executed a letter of intent (the "LOI") to acquire all of the issued and outstanding shares of an Alberta-based private resource company (the "Acquisition Company") for aggregate consideration of $1,000,000. The consideration proposed to be paid by Forent will consist of 2,500,000 common shares, at a proposed deemed price of 40 cents per [Read more]
Legacy Oil + Gas Inc. announces details of shareholder meeting and mailing of proxy materials
CALGARY, June 3, 2015 /CNW/ - Legacy Oil + Gas Inc. (TSX: LEG) ("Legacy" or the "Company") is pleased to announce that it will hold an annual and special meeting (the "Meeting") of holders ("Legacy Shareholders") of common shares ("Legacy Shares") of Legacy in the Devonian Room of the Calgary Petroleum Club, 319 – 5th Avenue S.W., Calgary, Alberta, on Tuesday, June 30, 2015 at 9:00 a.m. (Calgary time). At the Meeting, Legacy Shareholders will be asked to consider and vote upon the proposed plan [Read more]
Alberta should copy Alberta on oil royalties: former Norwegian finance minister
OTTAWA - A former Norwegian finance minister says Alberta's new government should take inspiration on handling resource revenues from the same place her country found it — Alberta."We were inspired by Alberta when we established our sovereign wealth fund," said Kristin Halvorsen, who was Norway's finance minister from 2005 to 2009 and led that country's Socialist Left party in a coalition government."But there have been many differences in how we established the fund."Alberta's new NDP [Read more]