NEW YORK - Oil's plunge is spreading both pain and gain across the globe.The price of a barrel has fallen by about half since June, punishing the economies of some major exporters. Russia's currency has nose-dived, for instance, and investors worry Venezuela could default on its debt.For countries that consume a large amount of the world's oil, it's a different story. The world's four biggest economies — U.S., China, Japan and that of the European Union — all benefit from lower oil [Read more]
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Forent Energy Announces Significant Acreage in Heathdale, Alberta
CALGARY, ALBERTA--(Marketwired - Dec. 19, 2014) - Forent Energy Ltd. ("Forent" or the "Company") (TSX VENTURE:FEN) is pleased to provide an update on corporate activity and a new corporate presentation, which is available at www.forentenergy.com. HEATHDALE AREA Over the past year, Forent has quietly accumulated over 54 sections (1.5 townships) of petroleum and natural gas mineral rights in the emerging Heathdale area. The majority of the highly perspective acreage has all petroleum and [Read more]
Delphi Energy Announces Increased Credit Facility
CALGARY, ALBERTA--(Marketwired - Dec. 19, 2014) - Delphi Energy Corp. (TSX:DEE) ("Delphi" or the "Company") is pleased to provide the following update. CREDIT FACILITIES Delphi's lenders (National Bank of Canada, Bank of Nova Scotia and Alberta Treasury Branches) have completed their semi-annual review of the Company's senior credit facility resulting in a $20.0 million increase in the facility to $190.0 million. The increase to the credit facility will be effective December 18, 2014. All [Read more]
Keyera to Participate as a 60% Owner in New Gas Plant in West Pembina Area
CALGARY, Dec. 19, 2014 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it has agreed to participate as a 60% owner in the Zeta Creek gas plant (the "Plant"), being constructed by Velvet Energy ("Velvet") in the West Pembina area of Alberta. Keyera will be the operator of the Plant, which will have a licensed capacity of 54 million cubic feet per day of sweet gas and be able to extract natural gas liquids. As part of the transaction, Keyera will also participate as a 75% owner [Read more]
Sunshine Oilsands Ltd. Announces Grant of Share Options
CALGARY, Alberta and HONG KONG, Dec. 18, 2014 /CNW/ -- This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). The board of directors of Sunshine Oilsands Ltd. (the "Corporation"; HKEX: 2012, TSX: SUO) announces that share options to acquire shares in the capital of the Corporation were granted by the Corporation to certain directors under its share option scheme adopted on January 26, [Read more]
High North Resources Ltd. Announces New Director, President and Chief Executive Officer
CALGARY, ALBERTA--(Marketwired - Dec. 18, 2014) - High North Resources Ltd. (TSX VENTURE:HN) (the "Company" or "High North") announces the resignation of Colin Soares as President and Chief Executive Officer of the Company effective December 18, 2014, and the appointment of Paul Starnino as President and Chief Executive Officer and as a member of the board of directors of High North effective December 18, 2014. Paul Starnino has been involved in the oil and natural gas business for over 28 [Read more]
Bonterra Energy Corp. Provides Corporate Update
CALGARY, ALBERTA--(Marketwired - Dec. 18, 2014) - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX:BNE) ("Bonterra" or "the Company") today provides an update on the Company's position in light of recent market and industry developments. As a resource based business, Bonterra is directly impacted by changes in commodity prices, and recently has been managing through an unexpected period of significant oil price declines. Due to this rapid price erosion and extreme volatility, accurately [Read more]
Spyglass Resources Corp. Announces Closing of Previously Announced $100 Million Asset Sale
CALGARY, ALBERTA--(Marketwired - Dec. 18, 2014) - Spyglass Resources Corp. ("Spyglass", or the "Company") (TSX:SGL)(OTCQX:SGLRF) announces closing of the previously announced disposition of a non-operated 50 percent working interest in the Dixonville Montney "C" oil pool for $100 million. Proceeds from the sale have been used to reduce bank debt. Spyglass Resources Corp. is an intermediate oil and natural gas company, headquartered in Calgary, Alberta and currently operates oil and gas [Read more]
Relentless Resources Announces Completion of Second Tranche of Private Placement
CALGARY, ALBERTA--(Marketwired - Dec. 18, 2014) - Relentless Resources Ltd. ("Relentless" or the "Company") (TSX VENTURE:RRL) is pleased to announce that it has completed a second tranche of its previously announced non-brokered private placement. Relentless issued 1,852,000 common shares of the Company issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) ("Flow-Through Shares") at a price of $0.27 per Flow-Through Share for aggregate gross proceeds of approximately $0.5 [Read more]
Eagle Energy Trust Announces Completion of Acquisition of Producing Petroleum Properties in North Central Alberta
CALGARY, ALBERTA--(Marketwired - Dec. 18, 2014) - Eagle Energy Trust ("Eagle") (TSX:EGL.UN) is pleased to announce that its subsidiary has completed the previously announced acquisition of a 50% non-operated working interest in producing petroleum properties in the Dixonville Montney "C" oil pool in north central Alberta for a purchase price of $100 million (the "Dixonville Acquisition"). The Dixonville Acquisition was funded with $55 million of Eagle's available cash and the balance from [Read more]