CALGARY, ALBERTA--(Marketwired - Jan. 31, 2014) - Southern Pacific Resource Corp. ("Southern Pacific" or the "Company") (TSX:STP) today announced that in addition to the Company's previously announced strategic review process, which included revised forecasted production guidance at STP-McKay, the Company has completed an amendment to its existing credit facility in which the availability on the credit facility will be $85 million, with the $100 million borrowing base remaining in place. This [Read more]
News
Wall says Keystone report cause for optimism
REGINA - Saskatchewan Premier Brad Wall says a long-awaited report by the U.S. State Department on the Keystone XL pipeline is cause for some optimism.However, Wall also cautions that at the end of the day, the final decision on the project rests with U.S. President Barack Obama.The premier has said the Keystone XL pipeline, which would carry oilsands bitumen to Gulf Coast refineries, is an important project for Canada.The pipeline would cross into Montana from Saskatchewan.Wall says the report [Read more]
Yoho Resources Announces Closing of Asset Disposition and Provides Update on Plan of Arrangement
CALGARY, ALBERTA--(Marketwired - Jan. 31, 2014) - Yoho Resources Inc. (TSX VENTURE:YO) ("Yoho" or the "Company") is pleased to announce that it has closed the previously announced disposition (the "Disposition") of its Montney acreage in the Nig area of Northeast British Columbia (the "Nig Assets") to Storm Resources Ltd. ("Storm") for total consideration of approximately $87.9 million (exclusive of customary closing adjustments), pursuant to the asset purchase and sale agreement dated January [Read more]
Lone Pine Resources Completes Restructuring
CALGARY, ALBERTA--(Marketwired - Jan. 31, 2014) - Lone Pine Resources Inc. ("Lone Pine" or the "Company") today announced the successful completion of its previously announced financial restructuring and its emergence from creditor protection under the Companies' Creditors Arrangement Act and Chapter 15 of the U.S. Bankruptcy Code. As a result of the restructuring, Lone Pine has reduced its long term debt from approximately Cdn$395 million as of September 25, 2013 to approximately Cdn$90 million [Read more]
U.S. State Dep’t report stands by oilsands, Keystone XL
WASHINGTON - The often-delayed, hotly debated Keystone XL pipeline has taken one step closer to completion. A long-awaited report by the U.S. State Department says the development of the Alberta oilsands is driven by many more factors than a single pipeline and rejects the argument by environmental groups that stopping the pipeline would thwart the oilsands. The report points out that it has reached the same conclusion as previous State Department studies into the oft-stalled project: The [Read more]
Storm Resources Ltd. Announces Closing of Acquisition in the Montney Formation of the Umbach-Nig Area of North Eastern British Columbia
CALGARY, ALBERTA--(Marketwired - Jan. 31, 2014) - Storm Resources Ltd. ("Storm") (TSX VENTURE:SRX) is pleased to announce the successful closing of the previously announced acquisition of a 100% working interest in 29 sections of land in the Umbach-Nig area prospective for liquids rich natural gas from the Montney formation (the "Acquisition"). Included in the Acquisition are two horizontal wells producing from the Montney formation. The total cost of the Acquisition was approximately $87.9 [Read more]
Nova Scotia government says treated fracking waste can be cleaned for disposal
HALIFAX - The Nova Scotia government says a waste management company has found a way to safely clean up millions of litres of treated water left over from fracked wells. Environment Minister Randy Delorey released a statement Friday saying the process developed by Atlantic Industrial Services in Debert can clean the waste to the point that it poses a "minimal risk" to the health of Nova Scotians and the environment. Delorey says independent laboratory results show the filtered water meets [Read more]
Octagon 88 Resources Announces Private Placement Subscription And Launch Of Its Conventional Oil Project
ZURICH--(BUSINESS WIRE)--Octagon 88 Resources Inc. (OCTX) or “the Company” is pleased to announce that a private placement subscription agreement has been accepted and closed by an established Swiss based fund as the subscriber in the amount of $750'000 USD. The subscriber has agreed to purchase 136'364 units of the Company’s common stock at a price of $5.50 per unit, each unit consisting of one share of common stock and one share purchase warrant, entitling the holder to purchase one additional [Read more]
New Brunswick premier vows to press ahead with shale gas despite protests
FREDERICTON - New Brunswick Premier David Alward used his final state of the province address before the next election to urge the public to support the development of a shale gas industry. Alward said his Progressive Conservative government will push ahead to help create a shale gas sector, adding that the cost of not moving forward is too great. "To not take advantage of this opportunity would be one of the most irresponsible things a government could do," Alward told a business audience [Read more]
Canadian Oil Sands Announces 2013 Financial Results and a $0.35 per Share Dividend
CALGARY, ALBERTA--(Marketwired - Jan. 30, 2014) - Canadian Oil Sands Limited (TSX:COS)(OTCQX:COSWF) - All financial figures are unaudited and in Canadian dollars unless otherwise noted. Highlights for the three months and year ended December 31, 2013: Cash flow from operations was $392 million ($0.81 per Share) in the fourth quarter of 2013 compared with cash flow from operations of $418 million ($0.86 per Share) in the same quarter of 2012. For the 2013 year, cash flow from operations [Read more]