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North American markets climb on gold, energy gains and positive Fed speeches

By Linda Nguyen, The Canadian Press TORONTO - Signs that the U.S. Federal Reserve may not put the brakes on its aggressive monetary stimulus program any time soon sent North American markets higher Tuesday. The S&P/TSX composite index climbed 129.38 points to 12,742.43, also boosted by strong gains in the energy and gold sectors. The Canadian dollar was up 0.22 of a cent at 97.39 cents US. On Wall Street, both the Dow Jones industrials index and the S&P 500 again surged to [Read more]

Toscana Energy Income Corporation Announces $15.0 Million Bought Deal Financing and $5.0 Million Private Placement Financing

CALGARY, ALBERTA--(Marketwired - May 21, 2013) - THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW. Toscana Energy Income Corporation ("Toscana Energy" or the "Company") (TSX VENTURE:TEI) is pleased to announce that it has entered into an agreement with a syndicate of underwriters (the "Underwriters") led by National Bank Financial Inc. and [Read more]

MIT physicist Moniz takes over as U.S. energy secretary, delays action on LNG exports while he studies data

By The Associated Press WASHINGTON — Energy Secretary Ernest Moniz said Tuesday he will put on hold about 20 applications to export liquefied natural gas until he reviews studies by the Energy Department and others on what impact the exports would have on domestic natural gas supplies and prices. Moniz, who was sworn in Tuesday as the nation’s new energy secretary, said he promised during his confirmation hearing that he would “review what’s out there” before acting on proposals to export [Read more]

Dirt containment wall built when oil leaks after Saskatchewan train derailment

By The Canadian Press JANSEN, Sask. - Work is underway to contain a leak of crude oil after part of a freight train derailed in Saskatchewan. The accident happened as a train was rolling through an area near the village of Jansen, about 150 kilometres southeast of Saskatoon. RCMP say there are no reports of injuries and the train did not catch fire. The car leaking the oil was well back in the 85-unit train. Excavation equipment is being sent to the site to build a wall of dirt to [Read more]

Environmental, First Nations activists plan protest at Sarnia oil sands meeting

  SARNIA, Ont. - Activists plan to protest in Sarnia, Ont., as a two-day national conference on oil sands bitumen kicks off today. The "Bitumen Adding Value Conference" is meant to bring together industry leaders, experts and decision-makers to discuss the production of value-added products from the oil sands resource. Environmental and First Nations activists have gathered in the southern Ontario city to demonstrate their opposition to Alberta oil sands development and proposed [Read more]

Keystone lobbyists targeting moderate Democrats to win Obama

Keystone XL lobbyists are targeting moderate Democratics in Washington in advance of a decision on the $5.3 billion project. The Canadian Association of Petroleum Producers will travel to the U.S. capital next month to promote TransCanada Corp.'s plan to carry Alberta oil-sands crude to Gulf Coast refineries. A decision by President Obama on the pipeline is expected this year. CAPP President David Collyer said in a telephone interview last month his organization will target “primarily on [Read more]

WTI falls toward $96 per barrel

  BANGKOK — The price of oil retreated toward $96 per barrel Tuesday as investors waited for the Federal Reserve’s latest views on the U.S. economy. Benchmark crude for June delivery was down 28 cents to $96.43 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract gained 69 cents to close at $96.71 on Monday. On Wednesday, Fed chairman Ben Bernanke will appear before Congress and the central bank will release minutes of [Read more]

Advantage Announces Significant Increase in Reserves & Contingent Resources and Updates Guidance & Strategic Alternatives Process

CALGARY, May 21, 2013 /CNW/ - Highlights: Total Petroleum Initially in Place ("TPIIP") at Glacier increased to 16.0 Tcf 2P Reserves plus 2C Contingent Resources increased to 5.9 Tcfe 2C Contingent Resources increased to 4.20 Tcfe; 72% of which is contained in the liquids rich Middle Montney intervals that are approximately 150 meters thick 2P Reserves grew to 1.61 Tcfe which includes 11 million barrels of NGLs Our Special Committee's financial advisors will immediately [Read more]

ShawCor Names New Chair & Vice Chair And Reports Voting Results from Annual General Meeting

TORONTO, May 17, 2013 /CNW/ - ShawCor Ltd. (TSX:SCL.TO) announced today that its Board of Directors had appointed independent director John F. (Jack) Petch as its new Chair of the Board.  Mr. Petch joined the ShawCor Board in 2005 and has previously served as its Lead Director, Chair of the Corporate Governance Committee and Chair of the Special Committee which was constituted in the fall of 2012 in connection with ShawCor's strategic review process. Another independent director, Robert J. [Read more]