A Chinese law passed Sunday places taxes on pollution, but doesn’t include carbon dioxide (CO2). The law will go into effect in 2018 and taxes air and water pollutants such as sulfur dioxide and sulfite at $0.17 and $0.20 per unit of emissions, respectively. Chinese officials said the law is intended to eliminate these pollutants, not to fight global warming. The anti-pollution legislation comes less than a week after China’s smoggiest cities were forced to close their schools due to six [Read more]
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Playing the Trump card to Alberta’s advantage
The election of Donald Trump in the United States has implications far beyond that country’s borders – wall or no wall. The President-elect of the global superpower and Canada’s closest trading partner is wading into several policies of significance to the True North, and Alberta in particular. Trump made clear early on in his presidential bid that he was supportive of Keystone XL. He vowed to give the pipeline a green light if elected, though he wanted a ‘better deal’ for the US. For [Read more]
Relentless Resources Announces Private Placement
CALGARY, ALBERTA--(Marketwired - Dec. 23, 2016) - Relentless Resources Ltd. ("Relentless" or the "Company") (TSX VENTURE:RRL) announces it plans to complete a non-brokered equity financing of up to 8,888,889 units ("Units") at a price of $0.05625 per Unit for gross proceeds of up to $500,000. Each Unit will consist of one common share of the Company ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant will give the holder the option, exercisable for a period of one [Read more]
Trident Exploration Corp Announces Equity Raise and Property Acquisition
CALGARY, Dec. 23, 2016 /CNW/ - Trident Exploration Corp. ("Trident" or the "Company") is pleased to announce that it has closed an equity offering and property acquisition. In a rights offering that was backstopped by the Company's major shareholder, Trident issued approximately 59.3 million shares at a price of $0.3793 per share for gross cash proceeds of $22.5 million. The fee for the backstop was paid in shares and represented 5% of the issue or approximately 3.0 million shares. After [Read more]
Strategic Oil & Gas Ltd. Closes $40 Million Financing
CALGARY, ALBERTA--(Marketwired - Dec. 22, 2016) - Strategic Oil & Gas Ltd. ("Strategic", or the "Company") (TSX VENTURE:SOG) announces that the Company has closed its recently announced non-brokered private placement (the "Private Placement"). The Company issued a total of 337 million common shares at a price of $0.12 per common share for gross proceeds of $40.4 million. Shares issued are subject to a hold period expiring April 24, 2016. Proceeds from the Private Placement will be applied [Read more]
Relentless Resources Announces Heathdale Wells have Been Drilled and Cased for Glauconite Oil and Provides Update on Private Placement
CALGARY, ALBERTA--(Marketwired - Dec. 22, 2016) - Relentless Resources Ltd. ("Relentless" or the "Company") (TSX VENTURE:RRL) announces that both the 02/5-7-27-9 W4 and the 6-12-27-10 W4 development wells have been drilled and cased for Glauconite oil. The Company anticipates completing the 02/5-7 well with multi-stage fracture stimulations and the 6-12 well with a single fracture stimulation. The wells will be completed and equipped subsequent to an additional financing by the [Read more]
AltaGas Receives Regulatory Approval to Double the Size of the Townsend Facility
CALGARY, ALBERTA--(Marketwired - Dec. 22, 2016) - AltaGas Ltd. ("AltaGas") (TSX:ALA) announced today that on December 19, 2016 it received regulatory approval from the British Columbia Oil and Gas Commission ("BCOGC") for the doubling of the Townsend Facility to 396 MMcf/d and to retrofit the existing 198 MMcf/d shallow-cut Townsend Facility to a deep-cut facility at a future date. The initial expansion will be a 100 Mmcf/d shallow-cut natural gas processing facility ("Townsend Phase 2") to be [Read more]
Point Loma Resources Announces Agreement to Acquire a Private Oil and Gas Company
CALGARY, AB--(Marketwired - December 22, 2016) - Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or "Point Loma") is pleased to announce that it has entered into a definitive agreement to acquire all of the issued and outstanding shares of a private oil and gas company with producing assets in central Alberta (the "Acquisition") for the consideration of 1,250,000 common shares of Point Loma. The Acquisition is anticipated to close in January 2017. Highlights: Production [Read more]
In 2017, Canadian economy will get its first taste of the Trump era
OTTAWA - The Canadian economy exits 2016 with bruises from the still-tough adjustment to weak crude prices and scars from the devastating wildfires that singed the oil patch. It enters 2017 with lingering challenges and a potential new obstacle that could attract more attention than the rest: the economic unknowns of a Donald Trump presidency. While it remains to be seen what will become of the U.S. president-elect's vows in areas like taxation, trade and investment, their [Read more]
Petrocapita Updates Acquisition of Crucible Resources Corporation
CALGARY, ALBERTA--(Marketwired - Dec. 21, 2016) - Petrocapita Income Trust (CSE:PCE.UN)(CSE:PCE.UN.CN) ("Petrocapita" or the "Trust") announces that, at a special meeting of the shareholders of Crucible Resources Corp. ("Crucible") held in the offices of the Trust today, it has acquired the remaining balance of all of the issued and outstanding shares of Crucible. At the meeting, the shareholders of Crucible approved an amalgamation of Crucible with Petrocapita GP II Ltd., a subsidiary of the [Read more]