REGINA - The Saskatchewan Court of Appeal has upheld a ruling against a First Nation that wants to halt oilsands exploration on what it calls its traditional territory.Last year a Court of Queen's Bench judge ruled against the Buffalo River Dene Nation's challenge of exploration permits issued to Scott Land and Lease.The First Nation had argued the permits were a violation of treaty rights and the policy of duty to consult was ignored.At the time, the judge in the case ruled there is no duty to [Read more]
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Saturn Minerals Inc. Announces Completion of First Tranche of Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 2, 2015) - Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) ("Saturn" or the "Company") is pleased to announce that it has completed the first tranche for 3,200,000 units in connection with a Private Placement previously announced on March 23, 2015, of up to 4,500,000 flow-through units (the "FT Units") at a price of $0.18 per FT Unit. Each FT Unit consists of one flow-through common share (the "FT Shares") and one-half of a non [Read more]
Tuscany Announces Record Levels of Production, Revenue and Cash Flow for Year Ended December 31, 2014
CALGARY, ALBERTA--(Marketwired - April 2, 2015) - Tuscany Energy Ltd. (TSX VENTURE:TUS) is pleased to announce the results of its financial and operating results for the year ended December 31, 2014. During 2014 the Company's principal goals were to expand its heavy oil development drilling program, increase its oil reserves and maintain a conservative balance sheet. 2014 Highlights: Financial Record full year revenues of $17.6 million, increased from $10.1 million in 2013. Cash [Read more]
TransCanada Alters Québec Scope of Energy East Pipeline Project
MONTREAL, QUÉBEC--(Marketwired - April 2, 2015) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced it is altering the scope of the Energy East pipeline project in Québec as part of its continued commitment to stakeholder consultation, environmental stewardship and community safety. Part of that altered scope includes the decision not to build a marine and associated tank terminals at Cacouna, Québec. Potential alternative terminal options in Québec are being reviewed. [Read more]
Baytex Closes $632.5 Million Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - April 2, 2015) - Baytex Energy Corp. ("Baytex") (TSX:BTE) (NYSE:BTE) has closed the previously announced bought deal financing (the "Equity Financing"). Baytex issued 36,455,000 common shares (the "Common Shares"), including 4,755,000 common shares pursuant to the full exercise of the over-allotment option, at a price of $17.35 per share for aggregate gross proceeds of approximately $632.5 million. The net proceeds from the Equity Financing will be used to [Read more]
TriOil Resources Ltd./ORLEN Upstream Canada Ltd.: Announcement of Name Change
CALGARY, ALBERTA--(Marketwired - April 2, 2015) - TriOil Resources Ltd., being part of the ORLEN Group, is pleased to announce that it is changing its name, effective immediately, to ORLEN Upstream Canada Ltd. ("Company") The name change is consistent with the ORLEN Group global strategy of building a single identity and provides ORLEN brand recognition to the Canadian oil and gas market, where the Company plans to expand its investment activities. ORLEN Upstream Canada's existing assets are [Read more]
Strategic Oil & Gas Ltd. Announces Year-End 2014 Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - April 2, 2015) - Strategic Oil & Gas Ltd. ("Strategic" or the "Company") (TSX VENTURE:SOG) reports financial and operating results for the three months and year ended December 31, 2014. Detailed results are presented in Strategic's annual consolidated financial statements, related Management's Discussion and Analysis ("MD&A") and Annual Information Form which will be available through the Company's website at www.sogoil.com and on SEDAR at [Read more]
Maple Leaf Royalties Corp. Completes Acquisition of Royalties and Non-Operated Working Interests
CALGARY, ALBERTA--(Marketwired - April 1, 2015) - Maple Leaf Royalties Corp. (TSX VENTURE:MPL) ("Maple Leaf") is pleased to report that it has completed the previously announced acquisition of royalty interests and non-operated working interests in a total of 17 oil and gas wells located in Alberta and Saskatchewan (the "Acquired Assets") from Maple Leaf 2012-II Energy Income Limited Partnership. Please refer to Maple Leaf's news release of March 24, 2015 for additional information regarding the [Read more]
Harvest delays startup of BlackGold oilsands project; layoffs reach 105
Korean-owned Harvest Operations Corp. confirmed Wednesday that it will delay the startup of its BlackGold oilsands project while the company continues to pare its workforce in the face of lower oil prices."We unfortunately (have) had to reduce our total workforce number by 105 positions," spokesman Greg Foofat said in a telephone interview"It wasn't done all at once," he said, adding that the reductions have been underway since the beginning of the year."It's just due to the lower expected plant [Read more]
Suncor provides update on cost management program and operations
CALGARY, ALBERTA--(Marketwired - April 1, 2015) - Suncor Energy today provided an update on its progress on cost management measures in response to the low crude price environment, as well as an update on operations. Since the cost management program was announced in January, the company has made significant progress on its cost reduction initiatives. Suncor now expects that the $600 million to $800 million in operating budget reductions will be substantially realized in 2015, ahead of [Read more]