CALGARY, Alberta, Aug. 6, 2013 /CNW/ - Sunshine Oilsands Ltd. ("Sunshine" or the "Corporation") (HKEX: 2012, TSX: SUO) announces that in light of Sunshine's planned expenditures and ongoing capital requirements for its West Ells and other projects and its existing capital levels, the Board of Directors has directed management of the Corporation to commence a strategic review process to identify, examine and consider a range of strategic alternatives available to Sunshine, with a view to [Read more]
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Kelt announces $99.6 million equity financing
CALGARY, Aug. 6, 2013 /CNW/ - ("KEL" - TSX) - Kelt Exploration Ltd. ("Kelt" or the "Company") is pleased to announce a common share and flow-through share equity financing for gross aggregate proceeds of $99.6 million. Kelt has entered into an agreement with a syndicate of underwriters led by Peters & Co. Limited, and including FirstEnergy Capital Corp., CIBC World Markets Inc., Dundee Securities Ltd., RBC Capital Markets, GMP Securities L.P., Stifel Nicolaus Canada Inc., Macquarie [Read more]
Governments, industry team up on pipeline research
EDMONTON - At least three governments and two energy industry groups are leading what they hope will be a "pan-Canadian" approach to find ways to improve the country's pipelines.As three controversial megaprojects generate headlines across the country, the Canadian Pipeline Technology Collaborative is to look for ways to make the system safer and more efficient, said industry spokeswoman Brenda Kenny."The program objective is, number one, technology development," said Kenny, who is [Read more]
Keystone XL would create jobs: Harper
QUEBEC - The Keystone XL pipeline would create jobs in Canada and the United States and ensure North American energy security, Stephen Harper said Friday after U.S. President Barack Obama suggested the long-lasting job effects would be minimal."In terms of the Keystone pipeline, the perspective of this government is very clear, it is very well known by everyone in Washington," the prime minister said in response to a reporter's question about Obama's remarks."Our No. 1 priority in [Read more]
US, Canada conduct Bering Strait spill drill
ANCHORAGE, Alaska (AP) - In a signal of increasing concerns over Arctic shipping, U.S. and Canadian coast guard vessels have conducted their first joint Arctic offshore oil spill drill near the Bering Strait.Two days of test of vessels and equipment were scheduled at Port Clarence, a protected bay near the strait, although poor weather limited actual deployment of spill gear to one day, said Coast Guard spokesman Chief Petty Officer Kip Wadlow.Port Clarence has been designated by the Coast Guard [Read more]
Harper says pipeline projects good “in principle”
QUEBEC - Prime Minister Stephen Harper says pipeline projects such as TransCanada Corp.'s proposed Energy East venture are good in principle and that it is important for Canadians to benefit from the country's energy products.But Harper said any such projects in Canada will be subject to a rigorous independent analysis.Harper said Friday that job-creation is his government's top priority and that pipeline projects can help in that area.The Energy East pipeline would deliver up to 1.1 [Read more]
Despite boom, higher costs push Big Oil into slump
NEW YORK (AP) - New troves of oil have been found all over the globe, and oil companies are taking in around $100 for every barrel they produce. But these seemingly prosperous conditions aren't doing much for Big Oil: Profit and production at the world's largest oil companies are slumping badly.Exxon Mobil, Shell and BP all posted disappointing earnings this week. Chevron is expected to post a profit decline Friday. All of them face the same problem: The cost to get newfound oil from remote [Read more]
Artek Exploration Ltd. Announces Core Property Acquisition and Provides Operational Update
CALGARY, ALBERTA--(Marketwired - Aug. 1, 2013) - Artek Exploration Ltd. (TSX:RTK) ("Artek" or the "Company") is pleased to announce that it has entered into an agreement with a Canadian intermediate oil and gas company to acquire certain natural gas assets located at Fireweed, adjacent to the Company's core operating and producing area at Inga in northeastern British Columbia. The acquisition has an effective date of April 1, 2013 and is subject to standard industry closing conditions. Closing [Read more]
Kelt Increases Capital Expenditure Budget, Enters Into Agreement to Acquire Strategic Assets and Increases 2013 Production Guidance
CALGARY, ALBERTA--(Marketwired - Aug. 1, 2013) - Kelt Exploration Ltd. (TSX:KEL) ("Kelt" or the "Company") has entered into an agreement with a Canadian oil and gas company to acquire certain natural gas assets located at Fireweed, adjacent to the Company's core producing area at Inga, in northeastern British Columbia. The acquisition has an effective date of April 1, 2013 and is subject to standard industry closing conditions. Closing is expected to occur on or around August 9, 2013. Kelt is [Read more]
Coral Hill Announces Dismissal of Lawsuit
CALGARY, ALBERTA--(Marketwired - Aug. 1, 2013) - Coral Hill Energy Ltd. (the "Company") is pleased to announce that pursuant to a decision of the Court of Queen's Bench of the Province of Alberta (the "Court"), the applications by the Company, Wave Energy Ltd. ("Wave") and certain former directors of Wave for summary dismissal of the previously announced statement of claim filed by Edward Robert Fisher (the "Plaintiff") against each of the defendants has been granted. Pursuant to the decision of [Read more]