CALGARY, ALBERTA--(Marketwired - March 7, 2016) - Forent Energy Ltd. (TSX VENTURE:FEN) ("Forent") and Perisson Petroleum Corporation (CSE:POG) ("Perisson") are pleased to announce that they have entered into a definitive agreement pursuant to which Perisson and Forent have agreed to amalgamate under the Business Corporations Act (Alberta) (the "Amalgamation"). The Amalgamation Pursuant to the Amalgamation, each common share of Forent and Perisson will be exchanged for one common share of [Read more]
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Chinook Energy Inc. Announces Its Audited Year-End Financial Results and 2016 Capital Program
CALGARY, ALBERTA--(Marketwired - March 7, 2016) - Chinook Energy Inc. ("our", "we", "us" or "Chinook") (TSX:CKE) is pleased to announce its audited year-end financial results and 2016 capital program. The audited financial results presented herein are consistent with the unaudited financial results announced in our news release issued on February 8, 2016. We will file the audited consolidated financial statements for the years ended December 31, 2015 and 2014 and related management's [Read more]
Raging River Exploration Inc. Announces Fourth Quarter & Year End 2015 Operating and Financial Results and Operations Update
CALGARY, ALBERTA--(Marketwired - March 7, 2016) - Raging River Exploration Inc. (the "Company" or "Raging River") (TSX:RRX) announces its operating and financial results for the three months and year ended December 31, 2015. Selected financial and operational information is outlined below and should be read in conjunction with the audited financial statements and the related management, discussion and analysis ("MD&A"). These filings will be available at www.sedar.com and the Company's [Read more]
Tourmaline Oil Corp. Earns $80.1 Million in 2015
CALGARY, AB--(Marketwired - March 07, 2016) - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") achieved exceptional growth in reserves (30%) and production (37%) in 2015 while delivering strong profitability. HIGHLIGHTS Q4 earnings after tax of $34.6 million ($0.16/diluted share), re-emphasizing the fundamental profitability of Tourmaline's EP business even in a very low commodity price environment. Full year 2015 earnings were $80.1 million ($0.37/diluted share). Q4 2015 [Read more]
Zargon Oil & Gas Ltd. Provides 2015 Fourth Quarter and Full Year Financial Results
CALGARY, ALBERTA--(Marketwired - March 7, 2016) - Zargon Oil & Gas Ltd. ("Zargon" or the "Company") (TSX:ZAR)(TSX:ZAR.DB) - HIGHLIGHTS FROM THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2015 For calendar 2015, funds flow from operating activities of $24.14 million ($0.80 per basic share) was 52 percent lower than the $50.67 million ($1.68 per basic share) recorded in the prior year. Oil and liquids production averaged 3,727 barrels of oil and liquids per day in 2015, an 11 percent [Read more]
Oil prices rise on UAE Energy Minister comments
Oil prices surged Monday on hopes that major producers would agree to freeze supply. Positive U.S. economic data fueled optimism and helped buoy crude prices. WTI rose 4.7% to $37.59 a barrel on NYMEX, the highest price since early January. Brent climbed 4.9% to $40.63 a barrel on ICE Futures Europe, the highest level since December. Oil prices have risen in recent weeks after Russia, Saudi Arabia, Venezuela and Qatar agreed to freeze their output at January levels. The UAE's energy [Read more]
Alberta set to roll out climate change legislation, details on $3B carbon tax
EDMONTON - Details of who pays what when Alberta brings in a new $3-billion a year carbon tax are to be released in the upcoming legislature session, says government house leader Brian Mason.Mason said the session, which begins Tuesday, is to see the government bring forward legislation as the next step toward implementing the carbon tax.The tax is set to begin next Jan. 1."It will enact the (carbon) levy. It will provide for rebates to individuals and to small business. It will create a new [Read more]
Quebec environmental hearings on Energy East Pipeline begin today
MONTREAL - Quebec's environmental hearings into the Energy East Pipeline project got off to a difficult start Monday evening, as protesters chanted and disrupted proceedings seconds after the company's vice-president began speaking.Joseph Zayed, with Quebec's environmental regulation agency, was forced to temporarily suspend the hearings as protesters snuck into the audience room, unfurled a banner denouncing the pipeline and sang songs to try and silence the presenter.The room was brought under [Read more]
OPEC a spent force? No, but the world has no oil supply cushion
For 30 years, OPEC has been busy manipulating the price of oil towards whatever deviant objective is on their minds. They’ve been pretty good at it, but the recent oil price collapse has led to a general conclusion that OPEC is dead, that shale oil production has robbed the cartel of its power. This near-uniform consensus is reminiscent of the sheep-like positive view of the US housing market circa 2006, and it may well have consequences that are just as severe. OPEC has finally and [Read more]
TransCanada to terminate coal power contracts due to higher emissions costs
CALGARY - TransCanada Corp. (TSX:TRP) plans to end its agreements to buy power from three coal-fired plants in Alberta, saying the contracts are continuing to hurt their bottom line.The Calgary-based company said Monday costs associated with carbon-dioxide emissions from the plants have risen and are forecast to increase further over the remaining term of the agreements.The power purchase contracts can be terminated under a provision where a change in provincial law makes them unprofitable, [Read more]