CALGARY, Feb. 21, 2018 /CNW/ - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to provide the following fourth quarter operating update to shareholders. Gear's Interim Financial Statements and related Management's Discussion and Analysis ("MD&A") for the period ended December 31, 2017 are available for review on Gear's website at www.gearenergy.com and on www.sedar.com. Financial Summary Three months ended Twelve months ended (Cdn$ [Read more]
Headlines
Retiring Pengrowth CEO plans role as advocate for misunderstood oilpatch
CALGARY - The retiring CEO of Pengrowth Energy Corp. says Canadian oil and gas leaders have been too "shy" to speak out in support of their industry and he plans to help fill that vacuum as he leaves the job he's held since 2009. The disconnect between average Canadians and the industry in terms of pipeline and drilling technology safety, and their inability to see how importing oil hurts domestic producers, can in part be blamed on the inaction of industry leaders, said Derek Evans. He [Read more]
Manitok Energy Inc. Provides Update on Restructuring and Appointment of Receiver
CALGARY, Feb. 21, 2018 /CNW/ - Manitok Energy Inc. ("Manitok" or the "Corporation") announces that today that the Court of Queen's Bench of Alberta (the "Court") made orders (a) appointing Alvarez & Marsal Canada Inc. as receiver and manager of the assets, undertakings and properties of the Corporation and its wholly owned subsidiary Raimount Energy Corp. ("Raimount") (Alvarez & Marsal Canada Inc., in such capacity, the "Receiver"), (b) terminating the time within which Manitok, [Read more]
Little Rock Resources Ltd.: Property Divestiture – Chin Coulee, Alberta
Sayer Energy Advisors has been engaged to assist Little Rock Resources Ltd. (“Little Rock” or the “Company”) with the sale of its non-core oil property located in the Chin Coulee area of Alberta (the “Property”). Chin Coulee is located 30 kilometres southeast of Taber, Alberta. At Chin Coulee, Little Rock holds a 100% interest in low-decline oil production from two Sawtooth oil pools that are currently under waterflood. Current production net to Little Rock fromChin Coulee is approximately [Read more]
Saturn Oil & Gas Inc. Announces IP60 Results and Operational Update
SASKATOON, Saskatchewan, Feb. 21, 2018 (GLOBE NEWSWIRE) -- Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V:SMI) (FSE:SMK) is pleased to provide an update on the two initial Viking horizontal wells drilled in December 2017. Additionally, the Company is pleased to provide an update on its drill program and land acquisition in the recent Crown land sale. Further to Saturn’s press release dated January 11, 2018, the Company’s two initial Viking horizontal wells have continued to [Read more]
Spartan Energy Corp. Reports 2017 Year End Reserves and Provides Operational Update
CALGARY, Alberta, Feb. 21, 2018 (GLOBE NEWSWIRE) -- Spartan Energy Corp. (“Spartan” or the “Company”) (TSX:SPE) is pleased to provide a summary of our 2017 year-end reserves and a 2017 operational update. Reserve numbers presented herein were derived from an independent reserves report (the “Sproule Report”) prepared by Sproule Associates Ltd. (“Sproule”) effective December 31, 2017. All 2017 financial information presented in this press release is based on management’s preliminary estimates and [Read more]
Hemisphere Energy Commences Development Drilling Program
TSX-V: HME - VANCOUVER, Feb. 21, 2018 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to announce that it has commenced its winter development drilling program in Atlee Buffalo, southeast Alberta. Hemisphere has begun its three-well drilling program in Atlee Buffalo, which includes one producer and two injectors. All three of these wells are located in the Upper Mannville G pool where the Company recently constructed a centralized oil facility to [Read more]
Relentless Resources Announces Recapitalization Financing, Addition of a New Board Member and Pursuit of Acquisition Opportunities in the Cannabis Industry
TSX-Venture Exchange: RRL - CALGARY, Feb. 21, 2018 /CNW/ - Relentless Resources Ltd. ("Relentless" or the "Company") is pleased to announce: (i) a non-brokered private placement of up to an aggregate of $7.5million (the "Private Placement"); (ii) the appointment of Mr. Stanley J. Swiatek to the board of directors in connection with the completion of the Private Placement; and (iii) subject to regulatory approval, a rights offering (the "Rights Offering", and collectively with the Private [Read more]
Cona Resources Ltd. Announces 2017 Year-End Reserves Information
CALGARY, Feb. 21, 2018 /CNW/ - Cona Resources Ltd. ("Cona" or the "Company") (TSX: CONA) announces its 2017 year-end reserves information. Cona's year-end 2017 reserves are indicative of the Company's unique low decline, high quality oil-weighted asset base. With over 90% of the Company's production under natural water drive, waterflood, polymer flood or steam assisted gravity drainage ("SAGD"), we have been able to grow our reserves base while spending only 64% of our 2017 funds from [Read more]
Toscana Energy Announces 2017 Reserves and Review of Strategic Alternatives
CALGARY, Alberta, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation ("Toscana" or the "Corporation") (TSX:TEI) announces the Corporation’s 2017 year-end reserves and the decision by the Board of Directors of the Corporation to commence a review of strategic alternatives in respect of the Corporation to enhance shareholder value. 2017 Highlights Continued to grow high quality, long life, low decline asset base with forecast decline of 5%.Proved Developed Producing (PDP) [Read more]