DeeThree Exploration Ltd. [stock dtx.to] is pleased to announce it has reached its targeted 2012 exit production rate of 6,000 boe/d based on field estimates. In addition, DeeThree has recently drilled two wells that are expected to be producing by the end of 2012 or early 2013 at significant rates. DeeThree is pleased to report it has entered into a farm-in agreement with a senior oil and gas producer pursuant to which it may earn a 100% working interest in up to 34 additional sections of [Read more]
News
Enerplus Closes Purchase of Bakken Oil Assets in Montana and Sale of Manitoba Assets
Enerplus Corporation [stock erf.to] is pleased to announce the closing of the previously disclosed acquisition of additional working interests in the Sleeping Giant area in the Elm Coulee field in Richland County, Montana for US$119 million including estimated closing adjustments. This acquisition includes approximately 6.2 million BOE of proved plus probable reserves, incremental daily production of approximately 1,550 BOE/day, and consolidates our working interest to approximately 90% in [Read more]
Penn West Exploration Announces the Completion of Non-Core Asset Divestments
PENN WEST PETROLEUM LTD. [stock pwt.to] is pleased to announce that it has closed its previously announced divestment of non-core assets. In June of 2012, Penn West announced its intention to divest of $1.0 to $1.5 billion of non-core assets. Effective today, the last of a number of asset dispositions related to this plan closed for total gross proceeds of approximately $1.3 billion. In addition to these dispositions, we also recently closed a series of minor dispositions. Total proceeds from [Read more]
Marquee Energy Announces Closing of Private Placement
Marquee Energy Ltd. [stock MQL.V] announced today that the Company has closed a non-brokered private placement of 1,963,238 common shares of the Company at a price of $1.05 per common share, issued on a flow-through basis pursuant to the Income Tax Act (Canada) for proceeds of $2,061,400. The Flow-Through shares are subject to a restricted period of four months and a day, expiring on April 20th, 2013. Certain registered dealers received a finder's fee equal to 6% of the gross proceeds from the [Read more]
“75,000 BOEPD” Tourmaline Increases its 2013 Guidance
Tourmaline Oil Corp. [stock TOU.TO] is pleased to report continued success in the Company''s ongoing 2012 EP program which has generated strong production growth throughout the operated property portfolio. Tourmaline now expects to exit 2012 at 70,000 boepd, an increase from previous exit guidance of 63,000-65,000 boepd. The Company currently expects to average 75,000 boepd in 2013, representing approximately 50% growth over 2012 expected average production of between 50,000 and 51,000 boepd. [Read more]
Edge Resources Inc. Closes $1 Million Canadian-Focused Private Placement
Edge Resources Inc. [stock EDE.V] is pleased to announce that, on the heels of its $5 million common share offering in the UK, it has raised a further $1 million from Canadian subscribers (the "Offering") in response to the oversubscribed UK offering. The majority of the Offering, $1,031,440, represented flow-through subscriptions at a price of $0.32 per share (an 18.5% premium to Monday''s closing price), with the remaining $29,500 in common shares at $0.25 per share (a 7.4% discount to [Read more]
Perpetual Energy Inc. Signs Purchase and Sale Agreement for the Divestiture of Elmworth Property for net Proceeds of $77.5 Million
Perpetual Energy Inc. {[stock PMT.TO]) is pleased to announce further positive results from the Corporation's ongoing asset disposition program. Perpetual has entered into a definitive purchase and sale agreement, along with its partner Tourmaline Oil Corp., to jointly divest its Elmworth, Alberta property for gross proceeds of $155 million, $77.5 million net to Perpetual, subject to certain closing adjustments and transaction costs. This transaction is currently expected to close on or prior [Read more]
Raging River Exploration Inc. Announces the Closing of $69 Million Bought Deal Financing and $120 Million Capital Expenditure Budget for 2013
Raging River Exploration Inc. ([stock RRX.V]) has closed its previously announced bought deal financing. A total of 26,000,000 Raging River common shares have been issued at a price of $2.65 per share for gross proceeds of $68.9 million (the "Financing"). The syndicate of underwriters was co-led by Peters & Co. Limited and FirstEnergy Capital Corp. and included, Dundee Securities Ltd., Desjardins Securities Inc., Paradigm Capital Inc., CIBC, National Bank Financial Inc., Cormark [Read more]
Artek Provides Operations Update
Artek Exploration Ltd. Artek Exploration Ltd. ([stock rtk.to]) is pleased to provide the following operational update. At Inga, B.C. the Company has successfully drilled and completed its sixth and seventh horizontal wells of a seven 2012 horizontal well program (60% working interest) at A13-33-88-23W6, representing an extension to the southern end of its Doig natural gas and condensate trend, and at A13-3-88-23W6M. The results of the respective 114 and 87 hour well tests were consistent with [Read more]
Lone Pine Announces Completion of Wild River Asset Disposition
Lone Pine Resources Inc. ([stock LPR.TO]) today announced that it has completed its previously announced Wild River asset disposition for total cash proceeds of $80.6 million. The proceeds of the disposition have been used by the Company to reduce indebtedness outstanding under its bank credit facility. As a result of the disposition, the borrowing base available under the bank credit facility has been reduced by $50 million from $325 million to $275 million. As of December 17, 2012, after [Read more]