CALGARY, ALBERTA--(Marketwire - March 8, 2013) - Edge Resources Inc. (TSX VENTURE:EDE)(EDG.L) ("Edge" or the "Company") is pleased to announce that it has spudded the second well of the Company's spring drilling program in Primate, Saskatchewan. This second well is targeting a new oil horizon approximately 50 meters shallower than previously targeted zones in the area. This shallower zone has produced abundantly in both Alberta and Saskatchewan. Edge will be utilizing conventional, horizontal [Read more]
News
Paramount Resources Ltd. 2012 Results – Record Reserves Growth
CALGARY, ALBERTA--(Marketwire - March 7, 2013) - Paramount Resources Ltd. (POU.TO) - OVERVIEW Reserves and Principal Properties Total proved and probable reserves increased 239 percent to 179.9 MMBoe, with conventional reserves increasing 64 percent to 86.8 MMBoe (replacement ratio of six times) and probable oil sands bitumen reserves increasing 93.1 MMBoe. Conventional proved reserves increased 43 percent year-over-year to 50.9 MMBoe, after production of 7.3 MMBoe and dispositions [Read more]
Long Run Exploration Ltd. Announces Financial Results for the Fourth Quarter and Year Ended December 31, 2012 and 2012 Year End Reserve Results
CALGARY, ALBERTA--(Marketwire - Mar 7, 2013) - LONG RUN EXPLORATION LTD. (LRE.TO) ("Long Run" or the "Corporation") is pleased to announce its results for the fourth quarter and year ended December 31, 2012 and year end reserve results. In the fourth quarter, WestFire Energy Ltd. ("WestFire") and Guide Exploration Ltd. ("Guide") completed an all share merger transaction. The management team of Guide is leading the renamed Long Run Exploration Ltd. Long Run is focusing on core properties in [Read more]
Petrobank Announces 2012 Reserves and Resources and Year-End 2012 Financial and Operating Results
CALGARY, ALBERTA--(Marketwire - March 7, 2013) - Petrobank Energy and Resources Ltd. (PBG.TO) announces the results of our reserves and resources evaluation for the year ended December 31, 2012 conducted by McDaniel and Associates Consultants Ltd. ("McDaniel") and Sproule Associates Ltd. ("Sproule") and our 2012 fourth quarter and year-end financial and operating results. Petrobank was incorporated as 1708589 Alberta Ltd. on October 24, 2012 for the purpose of a corporate reorganization by [Read more]
Kelt Provides 2013 Financial and Operating Guidance
CALGARY, ALBERTA--(Marketwire - March 7, 2013) - Kelt Exploration Ltd. ("Kelt" or the "Company") (TSX:KEL) is pleased to provide financial and operating guidance for 2013. Common shares of Kelt commenced trading on the Toronto Stock Exchange on March 1, 2013 under the symbol "KEL". 2013 Guidance Kelt was recently formed as a junior oil and gas exploration and development company resulting from a plan of arrangement involving Celtic Exploration Ltd., ExxonMobil Canada Ltd., ExxonMobil [Read more]
Artek Exploration Ltd. Reports Significant 2012 Reserves Growth
CALGARY, ALBERTA--(Marketwire - March 7, 2013) - Artek Exploration Ltd. (RTK.TO) of Calgary, Alberta ("Artek" or the "Company") is pleased to provide an operational update and announce the results of its independent reserve evaluation for the year ended December 31, 2012 (the "Sproule Report") as prepared by Sproule Associates Limited ("Sproule"). 2012 HIGHLIGHTS Increased Proved plus Probable reserves year over year by 30% to 29.6 million boe from 22.9 million boe or 34% after the [Read more]
Cequence Energy announces 35% growth in reserves and 2012 financial and operating results
CALGARY , March 7, 2013 /CNW/ - Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: "CQE") is pleased to announce its 2012 year end reserves and its operating and financial results for the three months and the year ended December 31, 2012 . Reserve Highlights Cequence's 2012 year end reserves reflect a continued focus on the successful delineation of its Simonette property in the Deep Basin of Alberta. The growth in reserves further substantiates management's views that the Company's [Read more]
$6.3 BILLION RED INK: Alberta to run massive deficit in upcoming fiscal year
EDMONTON - The Alberta government — squeezed by falling oil revenues and a growing population — has delivered a budget that holds the line on day-to-day spending but borrows billions to build roads, hospitals and schools. There are no new or increased taxes. The result is $6.3 billion in red ink. "We are having a tough time here," Finance Minister Doug Horner said Thursday before the 2013-14 document in the legislature. "We're going to have five million people in this [Read more]
Canada rig count down from last week, oil rigs slightly up
[table] [attr style="width: 20%"]`[attr style="width: 35%"]`[attr style="width: 15%"]Oil`[attr style="width: 15%"]Gas`[attr style="width: 15%"]Total [attr rowspan="5" style="background-color: #E0E0E0; text-align: center; vertical-align: middle;"]Canada`This Week`509`146`655 Last Week`504`158`662 Last Year`514`167`681 Week over Week Change`+5`-12`-7 Year over Year Change`-5`-21`-26[/table] [table] [attr style="width: 20%"]`[attr style="width: 35%"]`[attr style="width: 15%"]Oil`[attr [Read more]
Hemisphere Energy Commences Drilling in Jenner
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Mar 7, 2013) - Hemisphere Energy Corporation (TSX VENTURE:HME) is pleased to announce drilling operations have commenced in the Jenner area of southeast Alberta. Hemisphere is targeting the oil-bearing sandstones of the Glauconitic formation with its first horizontal development well of 2013. This horizontal well represents the third well Hemisphere has drilled under the farm-in agreement announced in June 2012. Results will be made available [Read more]