CALGARY, AB--(Marketwired - July 24, 2015) - Canamax Energy Ltd. ("Canamax" or the "Company") (TSX VENTURE: CAC) announced that the Board of Directors of the Company has approved a resolution to grant an aggregate of 3,097,500 stock options ("Options") to acquire common shares of the Company pursuant to the Company's Stock Option Plan (the "Plan"), of which 1,862,500 were granted to officers and directors of the Company, and the remaining options granted to employees and consultants. The [Read more]
News
Alberta energy, environment ministers concerned about Nexen pipeline spill
FORT MCMURRAY, Alta. - Alberta's energy and environment ministers say they're concerned about a pipeline spill that was discovered in the oilsands region last week. Marg McCuaig-Boyd and Shannon Phillips toured the cleanup site 35 kilometres southeast of Fort McMurray, along with a representative from a nearby aboriginal community. Both ministers say they have confidence in the investigation underway by the Alberta Energy Regulator, an arms-length watchdog. The ruptured year-old [Read more]
TSX Energy Index plummets
The S&P/TSX Capped Energy Index has fallen to levels not seen since the immediate aftermath of the 2008 global financial crisis. On February 23 2009, the index dropped to lowly 174.62 (from a June, 2008 high of 466). Today, the index plummeted to a new low at 179.92. The S&P/TSX Capped Energy Index provides liquid and tradeable benchmarks for related derivative products of the Canadian energy indsutry. Constituents are selected from a stock pool of S&P/TSX Composite Index stocks, and [Read more]
Delphi Energy Announces Closing of Disposition of Wapiti Assets
CALGARY, ALBERTA--(Marketwired - July 22, 2015) - Delphi Energy Corp. (TSX:DEE) ("Delphi" or the "Company") is pleased to report that it has closed the previously announced disposition of its working interests in producing properties, facilities and infrastructure and undeveloped land in the greater Wapiti area for $50.0 million, after closing adjustments. The Company's growth over the past three years has been achieved through successful drilling and completions on its Bigstone Montney [Read more]
Crew Energy Inc. Announces Closing of Northeast BC Montney Petroleum and Natural Gas Rights Exchange With Province of British Columbia and Reports Positive Operational Results
CALGARY, ALBERTA--(Marketwired - July 22, 2015) - Crew Energy Inc. (TSX:CR) of Calgary, Alberta ("Crew" or the "Company") is pleased to announce the completion of a Northeast British Columbia ("NE BC") Montney petroleum and natural gas rights exchange with the Province of British Columbia ("BC"). Through this transaction, Crew has been granted petroleum and natural gas rights in 53 net sections of Montney land (the "New Acreage") which is contiguous to the Company's Groundbirch property, in [Read more]
Eagle Energy Trust Announces Strategic Alberta Acquisition in the Twining Field
CALGARY, ALBERTA--(Marketwired - July 22, 2015) - Eagle Energy Trust ("Eagle") (TSX:EGL.UN) is pleased to announce that it has entered into an agreement with a private company ("Privateco") for the acquisition by Eagle of all the issued and outstanding shares of Privateco (the "Transaction"). The Transaction is valued at approximately $30 million, including Privateco's indebtedness, and will be funded out of Eagle's existing credit facility of $110 million ($US 85 million). It will be completed [Read more]
The sensationally unsensational Nexen bitumen leak
The media is no stranger to making news seem more newsworthy than in actual fact. Case in point is the recent Nexen pipeline leak in Northern Alberta. Since the leak was first reported, there have been accounts of the spill reaching five million litres of bitumen! Five million sounds like a outrageous amount of bitumen to be dumped into the environment, but on second thought, when was the last time bitumen was measured in litres? The normal custom, of course, for the media is to report [Read more]
Nexen to update oil leak
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]
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]