The price of oil declined Monday as markets waited for the preliminary reading of China's manufacturing for June. Benchmark U.S. crude for August delivery was down 56 cents to US$105.18 a barrel in electronic trading on the New York Mercantile Exchange. The contract closed down 10 cents at $105.74 on Friday. Brent crude, used to price international oils, slipped 62 cents to $112.68 a barrel in London. Oil prices were steady going into the weekend as markets grew accustomed to news [Read more]
News
Questerre Credit Facilities Expanded to $50 Million
CALGARY, ALBERTA--(Marketwired - June 30, 2014) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) reported today that its credit facilities with a Canadian chartered bank have been increased from $26.5 million to $50 million. The facilities are currently undrawn by the Company. Michael Binnion, President and Chief Executive Officer, commented, "These facilities give us the capital and financial flexibility to execute our Montney development plan. It complements [Read more]
Spyglass Resources Corp. Provides Drilling Update and Restarts Dixonville Field After Pipeline Incident
CALGARY, ALBERTA--(Marketwired - June 29, 2014) - Spyglass Resources Corp. ("Spyglass", or the "Company") (TSX:SGL)(OTCQX:SGLRF) announces that it has restarted production from the Dixonville field after a pipeline incident and provides a drilling update including details on the Company's recent tie-in of a light oil well at Cessford in southern Alberta, the completion and tie-in of a natural gas well in the Cadomin at Noel and the Halkirk-Provost ten well drilling program. Dixonville Incident [Read more]
Spyglass Resources Corp. Provides Details on Dixonville Pipeline Incident
CALGARY, ALBERTA--(Marketwired - June 27, 2014) -Spyglass Resources Corp. ("Spyglass", or the "Company") (TSX:SGL)(OTCQX:SGLRF) announces that on June 26th in the Dixonville area of Northern Alberta a leak occurred on an emulsion pipeline that carries a mixture of oil and water. Spyglass personnel immediately shut-in the pipelines, contained the incident to within the surface lease and notified the Alberta Energy Regulator ("AER"). It is estimated that less than 10 cubic meters of fluid with [Read more]
Relentless Resources Announces Increase to and Completion of Financing and Completion of Peace River Arch Asset Acquisition
CALGARY, ALBERTA--(Marketwired - June 27, 2014) - Relentless Resources Ltd. ("Relentless" or the "Company") (TSX VENTURE:RRL) is pleased to announced an increase to the common share component by $750,000 and completion of its previously announced non-brokered private placement. The Company issued 4,166,666 common shares on a "flow through" basis ("FT Shares") at $0.24 per FT Share and 13,750,000 common shares ("Common Shares") at $0.20 per Common Share for aggregate gross proceeds of $3.75 [Read more]
Hyperion Exploration Corp. Announces Revision to Bank Line
CALGARY, ALBERTA--(Marketwired - June 27, 2014) - Hyperion Exploration Corp. ("Hyperion" or the "Company") (TSX VENTURE:HYX) announces, as a result of the scheduled lending review with its credit provider, the lending limit of the revolving operating facility will be revised to $28.0 million from $30.0 million. Hyperion remains committed to debt reduction, while pursuing options to create value for our shareholders. The Company will not be utilizing additional debt to acquire assets in the near [Read more]
Tuscany Announces Filing of Preliminary Prospectus and $2.5 Million Offering
CALGARY, ALBERTA--(Marketwired - June 27, 2014) - Tuscany Energy Ltd. ("Tuscany" or the "Corporation") (TSX VENTURE:TUS) announces that it has filed and received a receipt for a preliminary short form prospectus in connection with a public offering of up to 6,250,000 units ("Units") and common shares of the Corporation to be issued on a flow-through basis in respect of Canadian development expenses (the "CDE FT Shares") at a price of $0.40 per Unit or CDE FT Share, as applicable, for aggregate [Read more]
Canadian Spirit Resources Inc. Exercise of Warrants Brings Recent Funding Total to $7.8 Million
CALGARY, ALBERTA--(Marketwired - June 27, 2014) - Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI) (OTCBB:CSPUF) is pleased to announce that 5,775,901 of the share purchase warrants issued December 20, 2013, with an expiry term of twelve months have been exercised at a price of $0.30 per warrant for total proceeds of $1.7 million. Combined with the closing of two recent private placements announced on June 4th and June 19th, the Corporation has raised total gross [Read more]
Nova Scotia, Ottawa finalize agreement on greenhouse gas emissions
HALIFAX - The federal government has finalized an agreement with Nova Scotia on greenhouse gas emissions from coal-fired power plants. Environment Canada and the provincial Environment Department began working on an equivalency agreement in 2012 and it was signed a month ago by the province, but notice was published Friday in the Canada Gazette that it had been finalized. The deal is intended to do away with duplicate regulations on greenhouse gases by exempting the province from federal [Read more]
Crude oil prices edge lower in New York; Brent slightly higher in London
The price of oil held steady Friday on a quiet day for energy markets.Benchmark West Texas Intermediate crude for August delivery edged 10 cents lower to close at US$105.74 a barrel on the New York Mercantile Exchange.Brent crude, a benchmark used to price international oils used my many U.S. refineries, rose nine cents to close at US$113.30 a barrel in London.The prices of both U.S. and international oils have slipped somewhat in recent days since reaching 10-month highs late last week, a sign [Read more]