TSX: BXE CALGARY, Feb. 21, 2013 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") announces the results of an independent reserve evaluation effective December 31, 2012. The report was completed by Sproule Associates Limited ("Sproule"). The evaluation encompasses 100% of Bellatrix's oil and gas properties and was prepared in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). Bellatrix benefitted from the largest [Read more]
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Celtic Announces Investment Canada Approval of Proposed Acquisition by ExxonMobil Canada Ltd.
CALGARY, ALBERTA--(Marketwire - Feb. 20, 2013) - Celtic Exploration Ltd. ("Celtic") (CLT.TO) is pleased to announce that under the terms of the Investment Canada Act, the Minister of Industry has approved the proposed acquisition of Celtic by a subsidiary of ExxonMobil Canada Ltd. ("ExxonMobil Canada"). No further regulatory approvals are required. The proposed acquisition of Celtic by ExxonMobil Canada is to be carried out by way of a plan of arrangement under the Business Corporations Act [Read more]
Zargon Oil & Gas Ltd. Sanctions Little Bow ASP Tertiary Recovery Project Construction, Provides an Operational Update, Provides 2013 Guidance and Releases 2012 Year End Reserves
CALGARY, ALBERTA--(Marketwire - Feb. 20, 2013) - Zargon Oil & Gas Ltd. (the "Company" or "Zargon") (TSX:ZAR) (TSX:ZAR.DB) is pleased to announce the sanctioning of the construction of the Little Bow Alkaline Surfactant Polymer ("ASP") tertiary recovery facility, provide an operational update, provide 2013 guidance and report its 2012 year end reserves. Zargon intends to release its 2012 audited financial results on March 12, 2013, after market close. LITTLE BOW ASP PROJECT [Read more]
TriOil Provides Clarification Regarding Shareholder Rights Plan and Strategic Process
CALGARY, Feb. 20, 2013 /CNW/ - (TSXV:TOL.V ) TriOil Resources Ltd. ("TriOil" or the "Corporation"), in reply to shareholder inquires, wishes to clarify that the timing of shareholder approval for the recently adopted shareholder rights plan (the "Rights Plan") does not impact upon the timing of the strategic alternatives process being undertaken by the Corporation. As indicated in the Corporation's February 19, 2013 press release, the independent committee of directors (the "Special [Read more]
Class action lawsuits totaling $702 million filed against National Bank over Poseidon
TORONTO - Two class-action lawsuits seeking damages totaling $702 million have been filed against National Bank of Canada (TSX:NA) over the financial reporting of Poseidon Concepts Corp. (TSX:PSN). The lawsuits, which were filed with the Ontario Superior Court of Justice, name National Bank and its underwriters and allege the defendants of misrepresenting the value of the oilfield services company's securities. None of these allegations have been proven in court. Last week, [Read more]
Crude oil prices drop, stocks retreat from 5-year high
NEW YORK, N.Y. - The price of oil fell Wednesday, as a drop in metals commodities overflowed to crude markets and stocks retreated from five-year highs. Benchmark West Texas Intermediate crude for April delivery dropped $2.14, or 2.2 per cent, to $94.96 a barrel in midday trading on the New York Mercantile Exchange. Brent crude, used to price many international varieties of oil imported by U.S. refineries, fell $1.54 to US$115.98 a barrel in London. The stock market backed off on [Read more]
Talisman cuts 90 jobs in Calgary office as part of reorganization
By Canadian Press Talisman Energy Inc. (TSX:TLM) has laid off 90 employees at its Calgary office. The Calgary-based international oil and gas producer says the job cuts are part of an effort to reorganize and streamline its Canadian operations. The company says low North American natural gas prices have caused it to reduce spending. It still has 1,500 employees in Canada, with 1,200 of those in Calgary. Talisman has been trying to reduce costs and better focus its operations since [Read more]
Tourmaline Oil Corp. Increases 2013 Production Guidance and Capital Program and Enters Into Bought Deal Financing
CALGARY, ALBERTA--(Marketwire - Feb. 20, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW. Tourmaline Oil Corp. (TOU.TO) ("Tourmaline" or the "Company") is pleased to announce that it is increasing 2013 average production guidance to 80,000 boepd from the original target of 75,000 boepd. The production increase is a direct result of Tourmaline's [Read more]
Pine Cliff Energy Ltd. Becomes the Sole Shareholder of Skope Energy Inc.
CALGARY, ALBERTA--(Marketwire - Feb. 20, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Pine Cliff Energy Ltd. ("Pine Cliff") (TSX VENTURE:PNE) is pleased to announce that the restructuring of Skope Energy Inc. and Skope Energy International Inc. ("Skope") pursuant to the Companies' Creditors Arrangement Act (the "CCAA") is now complete. The Court of Queens' Bench of Alberta approved on February 19, 2013 the Plan of Compromise and Arrangement [Read more]
Mulcair says NDP wants to “partner” with Alberta’s oilpatch :)
CALGARY - Federal NDP Leader Tom Mulcair came to the heart of oilpatch country with a message of openness to foreign investment, energy development and greater pipeline access, with one caveat — that they be pursued in a way the Canadian public can get behind. "The NDP will be a partner for the development of our energy resources when we form a government in 2015," Mulcair told a Calgary business community luncheon Tuesday. "We will work with you so that the rules are clear and [Read more]