CALGARY, AB / ACCESSWIRE / December 14, 2014 / Palliser Oil & Gas Corporation ("Palliser" or the "Company") (TSX VENTURE: PXL) announces that the forbearance agreement between Palliser and its lender has been extended to December 19, 2014 in order to permit the Company to continue negotiations relative to the terms of a potential amended credit facility and potential third party arrangements with respect to the Company. Palliser is focused on continuing its operations as effectively and [Read more]
News
OPEC Chief Urges Oil Investment Despite Low Prices
The secretary-general of OPEC on Sunday urged Gulf Arab nations to keep investing in oilfield development despite the plunge in crude prices and gave no indication the cartel was prepared to shift its strategy to halt the slide. Oil prices have shed nearly half their value since late June, including a 4 percent tumble Friday that left benchmark U.S. oil prices at $57.81 a barrel, their lowest level since May of 2009, when the U.S. was still in recession. Speaking at a forum in the Gulf [Read more]
Keystone, Mexico’s energy moves, on the agenda during continental talks
OTTAWA - The falling price of oil and what to do about it, the Keystone XL pipeline, and Mexico's major oil and gas shake-up will be on the table as North American energy ministers meet Monday.Natural Resources Minister Greg Rickford is set to meet with his counterparts Ernest Moniz and Pedro Joaquin Coldwell from the U.S. and Mexico respectively in Washington, D.C.The rapidly falling price of gas, exacerbated by the Organization of Petroleum Exporting Countries' (OPEC) decision last month not [Read more]
Sunshine Oilsands Announces Appointment Of CEO And Of A Director, President And Chief Operating Officer
CALGARY, Alberta and HONG KONG, Dec.14, 2014 /CNW/ -- The Board of Directors of Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKEX: 2012, TSX: SUO) has unanimously appointed Mr. Hong Luo, a Director of the Corporation, as Chief Executive Officer, subject to obtaining all necessary immigration approvals. The Board of Directors has also unanimously appointed Dr. Qi Jiang as President and Chief Operating Officer and a Director. There are no disagreements among board members and there [Read more]
Talisman shares surge on report of possible takeover by Spain’s Repsol
CALGARY - Analysts are expecting weak oil prices to lead to a flurry of mergers and acquisitions in the oilpatch, with Talisman Energy Inc. (TSX:TLM) the latest subject of takeover speculation.Shares in Calgary-based Talisman closed up more than 18 per cent on the Toronto Stock Exchange on Friday at $5.04 a share on reports it could soon be taken over by Spanish energy firm Repsol. Earlier in the day, they surged as much as 40 per cent from Thursday's close.The Financial Times says Repsol and [Read more]
Ivanhoe Energy board announcement
VANCOUVER, Dec. 12, 2014 /CNW/ - Ivanhoe Energy Inc. (TSX: IE; NASDAQ: IVAN) (TSX: IE.DB) announced the resignation of Peter G. Meredith from the company's Board of Directors, effective today. Mr. Meredith has served as a director of the company since December, 2007 and also from 1996 to 1999. The directors and the management of the company thank Mr. Meredith for his hard work, dedication and contribution over the many years and wish him success in his other business endeavors. Ivanhoe [Read more]
Relentless Resources Announces Private Placement Upsize and Completion
CALGARY, ALBERTA--(Marketwired - Dec. 12, 2014) - Relentless Resources Ltd. ("Relentless" or the "Company") (TSX VENTURE:RRL) is pleased to announce an increase by $346,925 and completion of its previously announced non-brokered private placement. The Company issued 4,513,890 common shares of the Company ("Common Shares") at a price of $0.225 per Common Share and 4,930,740 Common Shares issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) ("Flow-Through Shares") at a price of [Read more]
CaiTerra International Energy Corporation Announces $5.0 Million Non-Brokered Private Placement of Common Shares and Flow-Through Common Shares
CALGARY, ALBERTA--(Marketwired - Dec. 12, 2014) - CaiTerra International Energy Corporation (TSX VENTURE:CTI) (the "Company") announces that it intends to complete a non-brokered private placement of: (i) up to 17,500,000 common shares Company ("Common Shares") at a price of $0.20 per Common Share; and (ii) up to 6,000,000 common shares of the Company issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) with respect to Canadian exploration expense ("Flow-Through Shares") at a [Read more]
Following report that 2015 demand will be lower than previously thought, oil prices fall again
NEW YORK - Another forecast of weak global demand, another nosedive for oil.A 6-month rout in the price of oil accelerated this week, culminating in a 4 per cent drop Friday — its third such drop in 5 days — to its lowest level since May of 2009, when the U.S. was still in recession. Friday's trigger was a lowered expectation for oil consumption from the International Energy Agency.The benchmark U.S. oil price closed down $2.14 to close at $57.81 a barrel in New York. It is now 46 per cent below [Read more]
Groundstar Resources Limited Announces Non-Brokered Private Placement Financing of Up to $1.5 Million
CALGARY, ALBERTA--(Marketwired - Dec. 11, 2014) - Groundstar Resources Limited (TSX VENTURE:GSA) (the "Company") is pleased to announce that it intends to complete an offering of up to 15,000,000 common shares in the capital of the Company to be issued on a "flow-through" basis within the meaning of the Income Tax Act (Canada) (the "Flow-Through Shares") at a price of $0.10 per Flow-Through Share by way of a non-brokered private placement for total gross proceeds of up to $1.5 million (the [Read more]