CALGARY, May 20, 2015 /CNW/ - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX:TOG) is pleased to announce the closing today of its previously announced bought deal prospectus offering of subscription receipts (the "Bought Deal Financing") and its previously announced private placement of subscription receipts (the "CPPIB Investment") to the Canada Pension Plan Investment Board ("CPPIB"). Pursuant to the Bought Deal Financing, TORC issued 28,520,000 subscription receipts at a price of [Read more]
News
Are US Drillers Actually Making A Comeback?
Is US shale about to make a comeback? Oil prices have rebounded strongly since March. The benchmark WTI prices soared by more than 36 percent in two months, and Brent has jumped by more than 25 percent. There is a newfound bullishness in the oil markets – net long positions on Brent crude have hit multi-year highs in recent weeks on a belief that US supply is on its way down. That was backed up by recent EIA data that predicts an 86,000 barrel-per-day contraction for June. The Eagle Ford [Read more]
Blackbird Energy Inc. Announces Summer Drill Program and Appointment of New Independent Director
CALGARY, ALBERTA--(Marketwired - May 20, 2015) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company") is very pleased to announce a summer drill program consisting of one horizontal well targeting the condensate-rich Middle Montney at its Elmworth Montney project which consists of a 100% working interest in 81 sections (51,840 acres). The well is a 5.6 km (3.5 mile) easterly step out from the first two Blackbird operated Montney wells. This well will continue the process of [Read more]
EDC: Alberta exports to bounce back from energy losses in 2016
EDMONTON, May 20, 2015 /CNW/ - The dramatic drop in oil and gas prices will lead to a 17 per cent fall in Alberta's export earnings in 2015, but partial price recovery and volume gains will help overall exports rebound in 2016 to the tune of 19 per cent growth. The forecast was made today by Export Development Canada (EDC), Canada's leading provider of small business financing and insurance for companies with sales or business outside of Canada. "This will be a difficult year for Alberta [Read more]
Relentless Announces Financial and Operating Results for the Three Months Ended March 31, 2015
CALGARY, ALBERTA--(Marketwired - May 19, 2015) - Relentless Resources Ltd. ("Relentless" or "the Company") (TSX VENTURE:RRL) is pleased to report its financial and operating results for the three months ended March 31, 2015. Selected financial and operational information is set out below and should be read in conjunction with the Company's March 31, 2015 interim financial statements and the related management's discussion and analysis, which are available for review, together with additional [Read more]
Granite Oil Corp.: Corporate Update – Trading
CALGARY, ALBERTA--(Marketwired - May 19, 2015) - GRANITE OIL CORP. ("Granite", formerly DeeThree Exploration Ltd.) (TSX:GXO) announces that effective at the opening of trading on Thursday, May 21, 2015, the common shares of Granite will be listed and posted for trading on the Toronto Stock Exchange under the stock symbol of "GXO" in substitution for the common shares of DeeThree Exploration Ltd. (TSX:DTX) which will be delisted at that time. The foregoing results from a recently completed [Read more]
Boulder Energy Ltd.: Corporate Update- Trading
CALGARY, ALBERTA--(Marketwired - May 19, 2015) - BOULDER ENERGY LTD. ("Boulder") (TSX:BXO) announces that effective at the opening of trading on Thursday, May 21, 2015, the common shares of Boulder will be listed and posted for trading on the Toronto Stock Exchange under the stock symbol of "BXO". The foregoing results from a recently completed plan of arrangement (the "Arrangement") involving Boulder and Granite Oil Corp. (TSX:GXO), formerly DeeThree Exploration Ltd. For additional [Read more]
Mapan Energy Ltd. Announces Grant of Options
CALGARY, ALBERTA--(Marketwired - May 19, 2015) - Mapan Energy Ltd. ("Mapan" or the "Company") (TSX VENTURE:MPG) announces that the Company's board of directors has granted options to the directors and officers of the Company to acquire an aggregate of 1,065,000 common shares of Mapan at a price of $0.94 per share pursuant to Mapan's share option plan. The options vest as to one-third on each of the first, second and third anniversaries of the date of grant, and have a term of 5 years. Mapan [Read more]
Rough ride: A look at Canada’s oil sector before and after the collapse
CALGARY - It's been a rough ride for Canada's oil sector since the middle of last year.In June 2014, the U.S. benchmark crude price averaged US$105.79 a barrel. By January of this year, it had shrivelled to just US$47.22 — a drop of about 55 per cent.West Texas Intermediate crude has since been climbing closer to US$60, but executives in the oilpatch aren't holding out hope for sustained recovery just yet.Crude prices fell steadily throughout the second half of 2014 amid burgeoning North [Read more]
Canadian Spirit Resources Inc. Announces Extension of Expiry Date of Warrants
CALGARY, ALBERTA--(Marketwired - May 19, 2015) - Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI)(OTCBB:CSPUF) announces that it plans to extend the expiry date on 2,555,000 outstanding share purchase warrants (the "Warrants") for one year, from June 3 and 17, 2015 to June 3 and 17, 2016. The exercise price of $0.50 and all other terms of the Warrants remain unchanged. Each whole warrant entitles the holder to acquire one additional share of the Corporation. This [Read more]