EDMONTON - Alberta's NDP government tabled its third budget Thursday that includes a $10.3-billion deficit but includes increased spending and contains no tax cuts or increases. Here are the last 11 Alberta budgets: 2008-2009 (tabled April 22, 2008) Slogan: The Right Plan for Today and Tomorrow Premier: Ed Stelmach; Finance minister: Iris Evans Total spending is up 10 per cent to a record $37 billion. Surplus of $1.6 billion. Health premiums, which have generated [Read more]
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Fire at Alberta oilsands site has been extinguished, Syncrude says
FORT MCMURRAY, Alta. - A fire at a Syncrude oilsands facility in northern Alberta has been extinguished, two days after it broke out. The company says it is still investigating the cause of the fire, which started in an oil supply line at the Mildred Lake upgrader. Crews allowed the fire to continue to burn in order to safely dispose of chemicals left in the line. Officials including those with Alberta Occupational Health and Safety remain on site to investigate. [Read more]
Groundstar Resources Limited Provides Corporate Update
CALGARY, ALBERTA--(Marketwired - March 16, 2017) - Groundstar Resources Limited (TSX VENTURE:GSA) (the "Company") announces that it has received a proposal from Canada Revenue Agency ("CRA") as a result of a recently completed audit of the Company's renunciations of flow-through expenditures for the taxation years 2012 through 2014. CRA has determined that there has been a shortfall in the amount available for renunciation under the look-back rule in the amounts of $248,997 and $563,998 for 2012 [Read more]
Prairie Provident Announces Closing of $8 Million Equity Financing
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]
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]