CALGARY, July 4, 2013 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT) (NYSE - PWE) ("PENN WEST")announces that effective July 5, 2013, Mr. Allan Markin will be stepping down from the Board of Penn West. On behalf of the Board of Directors, Chairman, Mr. Rick George commented "we appreciate the contributions Al has made to Penn West in the time he was on the Board. We will continue to focus on many of the areas of value enhancement he championed." Penn West continues to progress its transition [Read more]
News
Questerre Energy Corporation: Montney Resource Assessed at Over 130 Million boe With Over 40% Condensate
CALGARY, ALBERTA--(Marketwired - July 4, 2013) - NOT FOR DISTRIBUTION ON U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) announced today the results of the resource assessment of its Montney acreage in the Kakwa-Resthaven area. The best estimate by the Company's independent reserve engineers of Prospective Resources ("PR") is 100 million barrels of oil equivalent and of Economic [Read more]
Egypt Army ousts Morsi
CAIRO (AP) -- Egypt's first democratically elected president was ousted Wednesday by the military after barely a year in office, felled by the same kind of popular revolt that first brought him to power in the Arab Spring. The armed forces announced it would install a temporary civilian government to replace Islamist President Mohammed Morsi, who denounced the action as a "full coup" by the generals. They also suspended the Islamist-drafted constitution and called for new [Read more]
Egypt Political Upheaval to deepen economic crisis
EGYPT POLITICAL UPHEAVAL TO DEEPEN ECONOMIC CRISIS CAIRO (AP) - Egypt's descent into even deeper political turmoil will almost certainly put a multi-billion dollar international bailout on hold and lead to an even more painful economic crisis, with worsening fuel shortages and higher prices on basic goods. After protracted negotiations that have stretched for more than a year, Egypt had been inching closer to securing a critical $4.8 billion International Monetary Fund loan. The [Read more]
Shoreline Energy Corp. Provides Closure on Dios Wattenburg Acquisition
CALGARY, ALBERTA--(Marketwired - July 3, 2013) - NOT FOR DISTRIBUTION IN THE UNITED STATES Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Company") announced today that as a result of a dispute relating to conveyance of legal title, the $15,700,000 principal payment due June 19, 2013 (as described in notes to Shoreline's first quarter financial results) is no longer required to be paid by Shoreline. As a result, Shoreline has reduced its current debt by $15,700,000. In addition, [Read more]
Angle Energy Inc. Announces Review of Strategic Alternatives and Provides Operational Update
CALGARY, ALBERTA--(Marketwired - July 3, 2013) - Angle Energy Inc. ("Angle" or the "Company") (TSX:NGL) today announced the initiation of a broad public process to identify and evaluate strategic alternatives to enhance shareholder value, and provided an update on its second quarter operations. STRATEGIC ALTERNATIVES REVIEW Since 2011, Angle has successfully executed an organic development strategy focusing on the light oil and liquids-rich natural gas assets in its portfolio to [Read more]
DeeThree Exploration Ltd. Announces Appointment of New Independent Director
CALGARY, ALBERTA--(Marketwired - July 3, 2013) - DEETHREE EXPLORATION LTD. ("DeeThree" or the "Company") (TSX:DTX)(OTCQX:DTHRF) today announced that it has appointed Mr. Kevin Andrus as an independent member to its Board of Directors. Mr. Andrus is the Portfolio Manager of Energy Investments with GMT Capital Corp., a private investment company based in Atlanta, Georgia. A graduate of the Masters of Business Administration program from Regis University, Mr. Andrus is also a Chartered [Read more]
Donnycreek Announces Bought Deal Equity Financing of $16.8 Million
CALGARY, ALBERTA--(Marketwired - July 3, 2013) - THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS Donnycreek Energy Inc. ("Donnycreek" or the "Company") (TSX VENTURE:DCK) reports that it has engaged a syndicate of underwriters (the "Underwriters") led by RBC Capital Markets in connection with a bought deal offering (the "Offering") of 8,000,000 common shares of the Company [Read more]
CN taps into growing shale demand by servicing new Alberta frac sand terminal
By Ross Marowits, The Canadian Press Canadian National Railway is looking to tap into the growing North American demand for shale gas by launching service this fall to a new frac sand terminal being built in northwestern Alberta. The railway said Wednesday it has signed an agreement with Di-Corp, a distributor of specialty chemicals and equipment to the mining industry, that is building a facility to handle the material used in the hydraulic fracturing process that is growing in [Read more]
TriOil provides update on strategic process
CALGARY, July 3, 2013 /CNW/ - (TSXV:TOL) TriOil Resources Ltd. ("TriOil" or the "Company") announces that it has entered into exclusive negotiations with another party in connection its previously announced strategic alternatives process. The exclusive negotiation period will likely continue through the end of August 2013. Although the terms, conditions and structuring details of any potential transaction are to be negotiated and discussed, TriOil and its counterparty are contemplating [Read more]