CALGARY, Alberta, Aug. 18, 2013 /CNW/ - Sunshine Oilsands Ltd. ("Sunshine" or the "Corporation") (HKEX: 2012, TSX: SUO) is pleased to announce that it has entered into a Framework Agreement with an international third party to pursue a joint venture involving its Muskwa and Godin area oilsands leases. The Framework Agreement provides for a 50 - 50 joint venture pursuant to which the third party will be responsible for investing up to $250 million, and contribute a thermal enhanced recovery [Read more]
News
Pipelines as nation builders? Historians dubious of railway comparisons
CALGARY (Canadian Press) - To hear some proponents of the Energy East project tell it, when the taps open on the $12-billion oil pipeline the moment will be as significant as when the last spike was driven into the Canadian Pacific Railway almost 128 years ago.Linking western crude to eastern markets would be a huge undertaking — it's the most expensive project in TransCanada Corp.'s (TSX:TRP) more than 60-year history — but some observers are dubious Energy East will one day be worthy of its [Read more]
Saskatchewan court grants injunction against band members’ oil protest
NORTH BATTLEFORD, Sask. - A Saskatchewan court has banned protesters from interfering with oil exploration work on a reserve in the west-central part of the province.The Thunderchild First Nation asked for the injunction against some of its members who have been have been camped out on the oil exploration site for the past few weeks.The protesters say the Sundance grounds are a sacred site and development should not be happening anywhere near them.On Friday in Saskatoon, band lawyer [Read more]
Acquisition of HMA Land Services Limited by RPS Energy Canada Ltd
HMA Land Services Limited (HMA) and RPS Energy Canada Ltd (RPSEC) are pleased to announce that, with effect from August 15th 2013, HMA Land has become part of RPS Energy Canada Ltd (RPSEC) and will be included in the Energy Division of RPS Group plc (RPS). HMA will now trade as RPS HMA. RPS considers HMA to be one of the foremost companies of its kind in North America and this transaction adds significant capability to the RPS offering in North America. Both RPS Energy and HMA Land have a [Read more]
Keystone XL Foes to Build Barn in Pipeline’s Path
(AP) - Opponents of the Keystone XL pipeline in Nebraska are making good on their promise to build a barn in the project's path. Volunteers will gather on Saturday at a groundbreaking ceremony for the solar- and wind-powered barn. The barn will sit on land directly on the pipeline's route, about 15 miles northwest of York. Organizers say the barn will serve as a gathering place to learn about sustainable energy alternatives that would benefit agriculture. If President Barack Obama approves [Read more]
Energy firm halts work in face of fracking protest
LONDON (AP) - Energy company Cuadrilla Resources Ltd. said Friday it has temporarily suspended drilling at an exploration site in southern England amid protests from residents and environmentalists opposed to shale gas extraction.The company said it had stopped work on police advice, but would resume "as soon as it is safe to do so."Demonstrators are planning to expand a protest camp Friday near the village of Balcombe."I'm quite worried about safety on the site," Cuadrilla chief executive [Read more]
Warren Buffet invests $500 million in Suncor
Warren Buffett has bought into the Alberta oil sands with a stake in Suncor Energy Inc., according to a Securities Exchange Commission filing released today. Buffett's fund, Berkshire Hathaway bought 17.8 million shares stake in Suncor, Canada's biggest oil and gas producer. That stake was valued at $524 million at the end of the second quarter. Read more... [Read more]
Arcan Second Quarter Results on Target; Shifts Focus for Balance of 2013 to Debt Reduction
CALGARY, ALBERTA--(Marketwired - Aug. 16, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA Arcan Resources Ltd. (TSX VENTURE:ARN) ("Arcan" or the "Corporation") announces its financial and operating results for the three and six-month periods ended June 30, 2013. Results on key metrics are in line with earlier guidance. Given the current economic climate and the state of the capital markets, Arcan plans to reduce capital [Read more]
Lone Pine misses US$10.1M interest payment
CALGARY - Lone Pine Resources Inc. (TSX:LPR) failed to make a US$10.1-million, semi-annual interest payment on its senior secured notes Thursday, setting the clock ticking on a possible default the could force the natural gas and light oil developer to seek protection from creditors.The company, incorporated in Delaware but headquartered in Calgary, said failure by Lone Pine Resources Canada Ltd. to make the payment will result in default on the 10.375 per cent senior notes maturing in [Read more]
Pinecrest Energy Inc. announces its 2013 second quarter results
CALGARY, Aug. 15, 2013 /CNW/ - Pinecrest Energy Inc. ("Pinecrest" or the "Company") is pleased to announce that it has filed on SEDAR its unaudited financial statements and related Management's Discussion and Analysis ("MD&A") for the three and six months ended June 30, 2013. The statements will be available for review atwww.sedar.com or www.pinecrestenergy.com. Second Quarter 2013 Achievements Pinecrest is pleased to provide the following update on our achievements during the three [Read more]