CALGARY, Alberta, Aug. 25, 2017 (GLOBE NEWSWIRE) -- Groundstar Resources Limited (TSXV:GSA) (the “Company”) is pleased to announce that it has executed a loan agreement (the “Loan Agreement”) with a private Alberta-based lender (the “Lender”) which will provide for the Company to borrow an amount of up to CDN$100,000 to fund its general working capital requirements and to further operations on its properties. The Loan Agreement provides that the funds advanced shall be repayable over a term of [Read more]
Headlines
Trump administration imposes sweeping sanctions on Venezuela
CARACAS, Venezuela - The Trump administration on Friday slapped sweeping financial sanctions on Venezuela, barring banks from any new financial deals with the government or state-run oil giant PDVSA. The sanctions Trump signed by executive order are bound to dramatically escalate tensions between Venezuela and the U.S. and exacerbate the country's economic crisis. "These measures are carefully calibrated to deny the Maduro dictatorship a critical source of financing to maintain [Read more]
Bangladesh court orders seizure of Canadian oil and gas firm’s assets
Calgary-based Niko Resources says the Supreme Court of Bangladesh has ordered the seizure of its assets in the country and ruled that its production agreements are no longer valid, the latest setback in a dispute that has dragged on for a dozen years. It says the court agreed with a petitioner who asked that the assets be held until Niko provides "adequate" compensation for two natural gas releases in 2005 in northeastern Bangladesh that resulted in fires that damaged trees and crops. [Read more]
Oil up as U.S. rigs and refineries brace for hurricane
Oil prices rose on Friday as the U.S. petroleum industry braced for Hurricane Harvey, which could become the biggest storm to hit the U.S. mainland in more than a decade. Harvey became a category 2 storm as it crossed the Gulf of Mexico with winds of 110 mph (175 kph), 145 miles (235 km) off port O’Connor, Texas, the National Hurricane Center said. The hurricane is forecast to make landfall late Friday or early Saturday between Corpus Christi and Houston, both important oil refining [Read more]
Razor Energy Corp. Announces Second Quarter 2017 Results and Retention of Renmark Financial Communications Inc.
CALGARY, Alberta, Aug. 25, 2017 (GLOBE NEWSWIRE) -- Razor Energy Corp. (“Razor” or the “Company”) (TSX-V:RZE) (www.razor-energy.com) is pleased to announce its second quarter 2017 financial and operating results. Selected financial and operational information is outlined below and should be read in conjunction with Razor’s unaudited condensed consolidated interim financial statements and management’s discussion and analysis for the quarter ended June 30, 2017 which are available on SEDAR at [Read more]
Point Loma Resources Announces Second Quarter Financial and Operating Results
CALGARY, AB--(Marketwired - August 25, 2017) - Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or "Point Loma") is pleased to report financial and operating results for the three and six months ended June 30, 2017. Highlights of the periods and additional updates are summarized below: HIGHLIGHTS Financial Three Months ended June 30, 2017 Six Months ended June 30, 2017(1) ($ thousands, except [Read more]
Orphan oil and gas wells adopted by rookie Alberta energy company founder
CALGARY - Where some see only a jumble of rusted pipes and black tanks jutting from a weed-infested yard in a prairie grain field, Tyler Visscher sees opportunity. The 31-year-old Red Deer, Alta., electrician is trying to build an oil and gas company the hard way, by scouring the Orphan Well Association's list of parentless wells in Alberta in hopes of picking out a few winners. He "adopted" his first well two years ago — bought it, actually — and is now wading through a "whack [Read more]
Ironhorse Announces Q2 2017 Financial and Operating Results
CALGARY, Aug. 24, 2017 /CNW/ - Ironhorse Oil & Gas Inc. ("Ironhorse" or the "Company") (TSX-V: IOG) announces its financial and operating results for the three and six months ended June 30, 2017. Financial and Operation Summary The Company's reported production remained flat at 165 boe/d in the second quarter of 2017 compared to 164 boe/d produced in the first quarter of 2017. The current quarter production was impacted by repair and maintenance work, third party outages downstream of [Read more]
Frontier oilsands mine panel ordered to consider impact on world heritage site
CALGARY - The federal-provincial panel conducting an environmental review of the proposed Frontier oilsands mine project in northern Alberta has been ordered to consider its impact on Wood Buffalo National Park as requested by the UN's World Heritage Committee. In a report in March based on a visit to the 45,000-square-kilometre park, a world heritage site since 1983, the UN agency warned of risk from industrial development and said the park could be designated "in danger" if Canada [Read more]
Ikkuma Announces Second Quarter 2017 Financial and Operating Results
CALGARY, Aug. 24, 2017 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") (TSXV: IKM) is pleased to report its financial and operating results for the three months ended June 30, 2017. Selected financial and operational information is set out below and should be read in conjunction with Ikkuma's interim condensed financial statements and the related management's discussion and analysis ("MD&A") for the three months ended June 30, 2017. Ikkuma's condensed interim financial [Read more]