Calgary, Alberta / ACCESSWIRE / January 9, 2015 / Palliser Oil & Gas Corporation ("Palliser" or the "Company") (TSX VENTURE: PXL) announces that the forbearance agreement between Palliser and its lender has been further extended to January 16, 2015. Palliser is focused on continuing its operations as effectively and efficiently as possible in the current economic climate and in the context of its financial circumstances as previously disclosed. There can be no assurance that the Company [Read more]
News
Nebraska high court tosses suit over Keystone pipeline route
LINCOLN, Neb. (AP) — Nebraska's highest court threw out a challenge Friday to a proposed route for the Keystone XL oil pipeline, even though a majority of judges agreed the landowners who sued should have won their case. The decision removes a major roadblock for the $7 billion cross-continental project that Republicans have vowed to make a key part of their 2015 agenda in Congress. Four judges on the seven-member Nebraska Supreme Court said the landowners should have won the case. Their [Read more]
Husky Energy’s main shareholder, Li Ka-shing, announces overhaul of conglomerate
HONG KONG - Hong Kong billionaire Li Ka-shing, who has been Asia's richest person for nearly two decades and the leading shareholder in Canada's Husky Energy Inc., announced Friday a reorganization of his sprawling conglomerate into two new listed companies.Li and members of his family control Hong Kong-listed Cheung Kong and its affiliate Hutchison Whampoa which together control a roughly 70 per cent Calgary-based Husky (TSX:HSE).Through a series of stock transactions, which are subject to [Read more]
Hyperion Completes Plan of Arrangement
CALGARY, ALBERTA--(Marketwired - Jan. 9, 2015) - Hyperion Exploration Corp. ("Hyperion") (TSX VENTURE:HYX) is pleased to announce that it has completed the previously announced plan of arrangement with Tri-Win International Investment Group Inc. (the "Purchaser"), whereby the Purchaser acquired, through a wholly-owned subsidiary 1864492 Alberta Ltd., all of the issued and outstanding common shares of the Company (the "Common Shares") at a cash price of $0.14 per Common Share for aggregate [Read more]
Arsenal Announces Q4 2014 Estimated Production and 2015 Guidance
CALGARY, ALBERTA--(Marketwired - Jan. 8, 2015) - Arsenal Energy Inc. ("Arsenal" or the "Company") (TSX:AEI)(OTCQX:AEYIF) is pleased to announce that production for the fourth quarter of 2014 averaged an estimated 4,700 boe/d, (approximately 76% oil and liquids) resulting in 2014 average production of approximately 4,500 boe/d. Production is currently estimated at approximately 4,800 boe/d. During the fourth quarter of 2014 at Princess, Alberta, Arsenal drilled six oil targets. Four of the oil [Read more]
Senate panel moves Keystone XL pipeline bill forward despite veto threat
WASHINGTON - House Republicans are on track to easily pass legislation to authorize the construction of the Keystone XL oil pipeline, moving Congress closer to a clash with President Barack Obama.The project would move tar sands oil from Canada 1,179 miles (1,900 kilometres) south to refineries on Gulf of Mexico Coast. Supporters say it would create jobs and ease American dependence on Middle East oil. Critics argue that the drilling is environmentally harmful, and said much of the Canadian [Read more]
Toro Announces Closing of $15 Million Bought Deal Public Equity Financing
CALGARY, ALBERTA--(Marketwired - Jan. 8, 2015) - Toro Oil & Gas Ltd. (TSX VENTURE:TOO) ("Toro" or the "Company") is pleased to report the closing of the previously announced bought deal equity financing cleared via a short-form prospectus ("Public Offering"). Pursuant to the Public Offering, an aggregate of 15,000,000 common shares at a price of $1.00 per share were issued raising $15 million in gross proceeds. The Public Offering was led by Macquarie Capital Markets Canada Ltd., together [Read more]
Surge Energy Inc. exceeds 2014 exit rate; announces capital program for first half of 2015; reduces dividend
CALGARY, Jan. 7, 2015 /CNW/ - Surge Energy Inc. ("Surge" or "the Company") announced today that, until such time as the Company receives tangible clarity with respect to world oil prices, Surge's management and Board are adopting a very conservative capital spending program for the first half of 2015, which is designed to protect both the Company's net asset value ("NAV"), and Surge's balance sheet. This conservative capital expenditure program in the first half of 2015, however, will still [Read more]
Athabasca Oil Corporation Announces Board of Directors Appointments and Executive Promotion
CALGARY, Jan. 7, 2015 /CNW/ - Athabasca Oil Corporation (TSX: ATH) ("Athabasca" or "the Company") is pleased to announce the appointment of Carlos Fierro and Paul Haggis to its Board of Directors ("Board"). The Board has also promoted Rob Broen, the Company's current Chief Operating Officer, to the position of President and Chief Operating Officer. Tom Buchanan continues as Athabasca's Chief Executive Officer. Mr. Fierro is a former investment banker and attorney based in Washington, DC. [Read more]
ARC Resources Ltd. Announces Bought Deal Financing and Reduced 2015 Capital Program
CALGARY, Jan. 7, 2015 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC") announced today that it has entered into an agreement to sell 15.5 million common shares at $22.55 per share to raise gross proceeds of approximately $350 million on a bought deal basis. The issue will be made through a syndicate of underwriters led by RBC Capital Markets. The net proceeds will be used to temporarily reduce bank indebtedness, increase working capital and to fund ongoing capital expenditure programs. This [Read more]