REGINA - Saskatchewan Premier Brad Wall launched a vigorous defence of the energy industry Wednesday, saying he is growing concerned that oil and gas development is increasingly being viewed as a liability by the rest of the country.Wall said he would be raising his concern Thursday at a meeting of premiers in Newfoundland, where a national energy strategy is expected to be discussed."We need to be more sustainable in development, but increasingly the dialogue in the country seems to be heading [Read more]
News
Canada needs LNG export options to avoid decline in natural gas production: CAPP
CALGARY - Canada's natural gas production will decline by about 10 per cent from current levels unless new export routes to Asia are opened, says a report released Wednesday by the Canadian Association of Petroleum Producers.The oil and gas industry group says Canada needs options for exporting liquefied natural gas by ship if the country is to avoid a decline in production over the coming years.Greg Stringham, the association's vice-president of markets and oilsands, said Canada needs to find [Read more]
The Multi-Trillion Dollar Oil Market Swindle
In the past, I documented the overstatements by both the IEA and EIA in 2014 & 2015 in terms of supply, inventory and understatements of demand. Others also noticed these distortions and, whether intentional or not, they exist and they are very large in dollar terms. These distortions, which are affecting price through media hype and/or direct/indirect price manipulation, are quite possibly the largest in financial history. Putting numbers behind it, with worldwide production running some 95 [Read more]
Marquee Energy Announces Corporate Update
CALGARY, July 15, 2015 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV: MQL) announces that effective immediately Roy Evans, Chief Financial Officer ("CFO"), is on a short-term medical leave due to an accident. Marquee also announces that Mr. William (Bill) Cromb has been appointed as Interim CFO of the Company, subject to TSX Venture Exchange approval. Mr. Cromb is an experienced financial executive with over 30 years of varied finance experience. He is a Chartered [Read more]
Lightstream Announces Closing of Previously Announced US $200 Million Secured Note Transaction and Production Update
CALGARY, ALBERTA--(Marketwired - July 14, 2015) - Lightstream Resources Ltd. (the "Company" or "Lightstream") (TSX:LTS) announces that we have completed the issuance of US$200 million in second lien notes ("Secured Notes") for cash proceeds, as described in our July 2, 2015 press release. Proceeds will be used to reduce the outstanding borrowing under our credit facility, increasing the credit available to approximately Cdn$375 million. This increased liquidity provides financial flexibility to [Read more]
Suncor Energy begins radio frequency pilot at Dover site
CALGARY, ALBERTA--(Marketwired - July 14, 2015) - Suncor Energy, along with its partners in the project, today announced the first radio frequency pilot for oil recovery within an in situ reservoir. The technology, Enhanced Solvent Extraction Incorporating Electromagnetic Heating (ESEIEH, pronounced "easy"), uses radio frequency to heat the reservoir and adds a solvent which facilitates the movement of the bitumen to the surface. The ESEIEH project partners are Devon, Nexen Energy ULC, [Read more]
Westcore Announces Binding Letter Agreement Re: Allstar Oil & Gas Properties and Up to $500,000 Equity Raise
SASKATOON, SASKATCHEWAN--(Marketwired - July 14, 2015) - WESTCORE ENERGY LTD. (TSX VENTURE:WTR) ("Westcore" or the "Company") is pleased to announce that it has entered into a binding letter agreement (the "Letter Agreement") with 49 North Resources Inc. ("FNR") and its wholly-owned subsidiary, Allstar Energy Limited ("Allstar") regarding the acquisition of a 100% working interest in the oil and gas properties of FNR and Allstar, in addition to the subsequent acquisition of all associated oil [Read more]
High North Resources Ltd. Announces Effective Date of Plan of Arrangement
CALGARY, ALBERTA--(Marketwired - July 14, 2015) - High North Resources Ltd. (TSX VENTURE:HN) (the "Company" or "High North") is pleased to announce that all of the conditions to the previously announced plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) with holders of its 12.00% convertible unsecured subordinated debentures have been satisfied, including receipt of final approval from the TSX Venture Exchange. The effective date for the completion [Read more]
Dejour’s Woodrush Oil Production Continues to Climb
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 14, 2015) - Dejour Energy Inc. (NYSE MKT:DEJ)(TSX:DEJ) ("Dejour" or the "Company"), an independent oil and gas exploration and production company operating in North America's Piceance Basin and Peace River Arch regions, today announced an operational update for its project in NW Alberta. Woodrush Project-Oil As previously reported, Dejour tied into production the B-100 Halfway oil step out well and the A-100 Gething gas well from the 2014 [Read more]
New Brunswick premier optimistic national energy strategy will be reached
FREDERICTON - The premier of New Brunswick says he's optimistic an agreement on a national energy strategy will be reached this week when the country's premiers and territorial leaders meet in Newfoundland and Labrador.Brian Gallant said such a strategy would be a catalyst for projects like the proposed Energy East pipeline because it would set the guidelines for projects impacting various parts of the country.The issue has long been under discussion, and while Gallant won't get into specifics [Read more]