TSX Venture Exchange: IKM-V CALGARY, Nov. 14, 2018 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") is pleased to provide an update on financing and its recent activity. Ikkuma is pleased to announce that it has completed a financing for a $20 million senior secured term loan (the "Term Loan") with Alberta Investment Management Corporation ("AIMCo"). The Term Loan bears annual interest at 9.5% and matures on the earliest of the closing of the Corporation's proposed business [Read more]
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Freehold Royalties Ltd. Announces Strong Growth in Funds from Operations and Third Quarter Results
CALGARY, Alberta, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Freehold Royalties Ltd. (Freehold) (TSX:FRU) announced third quarter results for the period ended September 30, 2018. RESULTS AT A GLANCE Three Months Ended Nine Months Ended September 30 September 30 FINANCIAL ($000s, except as noted) 2018 2017 Change 2018 2017 Change Royalty and other revenue 40,815 33,938 20 % 120,334 113,459 6 % Net income 8,389 103 - 18,198 [Read more]
Natural Resources minister says new pipelines the answer to oil price problems
CALGARY - Natural Resources Minister Amarjeet Sohi says he shares Albertan's "frustration" at billions of dollars being lost to the Canadian economy due to oil price discounts linked to export pipeline capacity constraints. But he says Ottawa is focused on finding long-term solutions by getting approval for new export pipelines such as the Trans Mountain pipeline expansion project it bought in August and by pursuing Bill C-69 to reform the National Energy Board. Following a speech at an [Read more]
Birchcliff Energy Ltd. Announces Strong Third Quarter 2018 Results, Strategic Montney Land Acquisition in Pouce Coupe and Preliminary 2019 Plans
CALGARY, Alberta, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its financial and operational results for the third quarter of 2018, a strategic Montney land acquisition in Pouce Coupe and its preliminary plans for 2019. The full text of Birchcliff’s Third Quarter 2018 Report, which contains the unaudited interim condensed financial statements for the three and nine months ended September 30, 2018 and the related [Read more]
Helping Industry Model Complex HF in Shale and Tight Reservoirs
Part 1: What Are the Challenges Importance of hydraulic fracturing to industry The shale hydrocarbon reservoirs compromise a significant portion of the total unconventional resources in Canada. Duvernay and Montney are the principal western Canadian shale plays which have been estimated to have over 600 trillion cubic feet of natural gas and 5 billion barrels of oil of technically recoverable resources. Other major shale plays in Canada are the Horton Bluff Shale of New Brunswick and Nova [Read more]
Delays at Sturgeon Refinery add to Alberta heavy oil price discount woes
CALGARY - A new refinery touted as part of the solution to Alberta's oversupply of heavy oil likely won't begin processing oilsands bitumen until year-end, several months later than expected. That means 80,000 barrels per day of diluted bitumen that would have been delivered to the $9.7-billion Sturgeon Refinery near Edmonton is instead joining the queue to be placed on overcrowded pipelines leaving the province. Multiple equipment failures have prevented the expected mid-2018 startup of [Read more]
Prairie Provident Confirms Shareholder Consent Process for Acquisition of Marquee Energy Ltd.
CALGARY, Alberta, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. ("Prairie Provident" or the "Company") (TSX:PPR) is pleased to confirm that, in connection with its previously-announced acquisition of Marquee Energy Ltd. ("Marquee"), the Company elected to obtain requisite approval of the Prairie Provident shareholders by written consent. The acquisition is proposed to be completed by way of statutory plan of arrangement under section 193 of the Business Corporations [Read more]
Storm Resources Ltd. (“Storm” or the “Company”) is Pleased to Announce Its Financial and Operating Results for the Three and Nine Months Ended September 30, 2018
CALGARY, Alberta, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Storm has also filed its unaudited condensed interim consolidated financial statements as at September 30, 2018 and for the three and nine months then ended along with Management’s Discussion and Analysis (“MD&A”) for the same period. This information appears on SEDAR (www.sedar.com) and on Storm’s website (www.stormresourcesltd.com.) Selected financial and operating information for the three and nine months ended September 30, 2018 [Read more]
Energy Companies Gear up for Winter Construction with All-Weather Road-Building Materials.
Access to Energy Resources has Immense Challenges in Winter Conditions. In late fall, wet, muddy conditions can slow down access to energy sources in Western Canada’s oil sands region—making access by heavy trucks and equipment nearly impossible. So, energy companies wait for frozen ground before ramping back up on production. Even in winter, access to remote oil sites creates challenges—undeveloped roads, poor soil conditions and limited road building resources. Companies have relied on [Read more]
Cardium Light Oil, Drill Ready Prospect Available to Industry
Highlights: 12.5 sections (8,000 gross acres; 7,552 net). Average working interest across all lands is 94%. 100% owned existing surface lease with facilities and adjacent high grade road & NG pipeline tie-in, including a vertical Cardium Fm. producing oil well (7-12-59-25W5) Pad drilling from up to 5 existing surface leases allows for up to 23 horizontal locations (@ 4 wells per section spacing) with year-round access. Infrastructure and available capacity also in place. [Read more]