CALGARY, ALBERTA--(Marketwired - March 16, 2017) - Prairie Provident Resources Inc. ("Prairie Provident" or the "Company") (TSX:PPR) is pleased to announce the closing of its previously announced bought deal equity financing through a syndicate of underwriters (the "Underwriters") led by Mackie Research Capital Corporation ("MRCC") raising total gross proceeds of approximately $8.0 million (the "Offering"). The Company issued 5,971,000 subscription receipts ("Subscription Receipts") at a [Read more]
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Canbriam Energy Announces 2017 Capital Budget of $295 million and Provides an Operational Update on the Development of its Altares Montney Asset
CALGARY, March 16, 2017 /CNW/ - Canbriam Energy Inc. ("Canbriam" or the "Company") has approved $295 million in capital expenditures for 2017, which reflects an increased pace of development of its liquids rich Montney resource and ongoing construction of the recently sanctioned Phase 3 of the 100% owned Altares processing facility. Phase 3 is designed to add an additional 120 million cubic feet per day of natural gas processing capacity once commissioned in late 2018 and will take total [Read more]
Spartan Energy Corp. Announces 2016 Fourth Quarter and Year End Results
CALGARY, ALBERTA--(Marketwired - March 16, 2017) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX:SPE) is pleased to report its financial and operating results for the fourth quarter and year ended December 31, 2016. Selected financial and operational information is set out below and should be read in conjunction with Spartan's December 31, 2016 audited annual financial statements and the related management's discussion and analysis ("MD&A"). The financial statements and MD&A are [Read more]
Ikkuma Resources Announces Additional Light Oil Discovery and 2016 Year-end Reserves
CALGARY, March 16, 2017 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") (TSXV: IKM) is pleased to announce its 2016 year-end reserves. Operations Update In Q1 2017, the Corporation completed drilling two additional Cardium horizontal wells in the northern part of the Narraway light oil pool. The second well was drilled for $2 million, which represents a cost reduction of approximately 30% from the first three drills, primarily due to a continuous two well drilling program. [Read more]
Sunshine Oilsands Ltd.: Placing of Up to 247,350,000 New Shares Under General Mandate
HONG KONG, CHINA and CALGARY, ALBERTA--(Marketwired - March 16, 2017) - The Board of Directors (the "Board") of Sunshine Oilsands Ltd. (a corporation incorporated under the Business Corporations Act of the Province of Alberta, Canada with limited liability) (the "Corporation" or "Sunshine") (HKSE:2012) is pleased to announce the following: PLACING OF NEW SHARES UNDER GENERAL MANDATE (a) The Placing On March 16, 2017 in Hong Kong (March 16, 2017 in Calgary), the Corporation entered into [Read more]
Relentless Resources Ltd. Announces Heathdale Drilling Results
CALGARY, ALBERTA--(Marketwired - March 16, 2017) - Relentless Resources Ltd. ("Relentless" or "the Company") (TSX VENTURE:RRL) announces that it has drilled and completed the 100/6-12-27-10 W4 ("6-12 well") vertical and 102/5-7-27-9W4 ("02/5-7 well") horizontal wells at Heathdale, Alberta. The 02/5-7 horizontal oil well was drilled in eight days to a total measured depth of 2,375m. The well was perforated over 23 intervals and fracture stimulated using a coil tubing straddle packer assembly. [Read more]
Alberta unveils 2017 budget, promising more spending, deficit, and paydown plan
EDMONTON - Cash-strapped Alberta is banking on bad times getting better in a fingers-crossed budget that drips red ink but promises a hospital, new schools and more money for seniors and social services. Critics pounced on it as a selfish and short-sighted blueprint that heralds a looming — and very ugly — day of financial reckoning. "We are laying the foundation for a return to economic growth," Finance Minister Joe Ceci said Thursday prior to tabling his 2017-18 fiscal plan. [Read more]
Delphi Energy Corp. Reports 2016 Year End Results, Reserves and Provides Operations Update
CALGARY, ALBERTA--(Marketwired - March 15, 2017) - Delphi Energy Corp. (TSX:DEE) ("Delphi" or the "Company") is pleased to announce its financial and operational results, crude oil and natural gas reserves information for the year ended December 31, 2016 and an operations update. 2016 HIGHLIGHTS Achieved a Company record low finding and development cost ("F&D") for proved producing reserves in 2016 of $10.17 per barrel of oil equivalent ("boe"). Including dispositions in the year [Read more]
Surge Energy Inc. Announces Q4 and Year End 2016 Results; Exceeds 2016 Production Exit Rate Target; Cash Flow Per Share Up 43 Percent; Confirms March 2017 Dividend
CALGARY, March 15, 2017 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) announces its operating and financial results for the year and quarter ended December 31, 2016. 2016 - POSITIONED FOR OUTPERFORMANCE Management has been strategically positioning Surge for success in a lower crude oil price environment for over 30 months. In the extended downturn for world crude oil prices, Surge focused on creating financial liquidity, balance sheet management, rigorous cost cutting [Read more]
Traverse Energy Operations Update and 2016 Year End Reserves
CALGARY, ALBERTA--(Marketwired - March 15, 2017) - Traverse Energy Ltd. ("Traverse" or "the Company") (TSX VENTURE:TVL) provides an operations update and presents its 2016 year-end reserves. Traverse's independent reserve report, dated February 21, 2017, was prepared by Sproule Associates Limited ("Sproule") in accordance with National Instrument 51-101 effective December 31, 2016. Operations update In 2016 Traverse reduced its capital program in response to the continuing weak commodity [Read more]