STORM RESOURCES LTD. ("Storm") (TSX VENTURE:SRX) announces that it has granted stock options ("Options") to purchase an aggregate of up to 1,449,000 common shares in the capital of Storm pursuant to its stock option plan, of which 798,000 Options were granted to the directors and officers of Storm. All of the Options have an exercise price of $1.75, vest over three years and expire on January 28, 2017. Storm began operations in August, 2010. Storm is headquartered in Calgary, Alberta and is [Read more]
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Connacher Announces Renewed Credit Facility
Connacher Oil and Gas Limited (CLL - TSX; "Connacher" or the "Company") is pleased to announce that the borrowing base under the Company's revolving credit facility with a syndicate of Canadian lenders has been set at $ 95 million . The terms of the facility are otherwise unchanged. There are no outstanding amounts owing other than approximately $2.2 million in letters of credit. The Company's 2013 capital program is well under way. At Algar, the re-drill of the 202-1 well pair has been [Read more]
Manitok Energy Inc. Announces Amendment to Normal Course Issuer Bid
Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) announces that it has received the approval of the TSX Venture Exchange (the "Exchange") to amend its normal course issuer bid (the "Bid"). The amendment to the Bid (the "Amendment") permits Manitok to increase the number of common shares in the capital of Manitok ("Common Shares") that may be repurchased under the Bid. All other terms of the Bid remain unchanged. Prior to the Amendment, Manitok had approval to repurchase [Read more]
DeeThree Exploration Announces $30 Million Bought Deal
DeeThree Exploration Ltd. (the "Company" or "DeeThree"), is pleased to announce that it has entered into an agreement, on a bought deal basis, with a syndicate of underwriters co-led by Macquarie Capital Markets Canada Ltd. (book runner), Raymond James Ltd., and Cormark Securities Inc., and including Dundee Securities Ltd., Stifel Nicolaus Canada Inc., and Casimir Capital Ltd. (collectively, the "Underwriters"), to purchase 4,420,000 common shares of the Company (the "Common Shares") at a price [Read more]
Raging River Exploration Inc. Announces 215% Increase in 2012 Year End Reserves and an Operational Update
Raging River Exploration Inc. ("Raging River" or the "Company") (TSX VENTURE:RRX) is pleased to announce its 2012 year-end oil and gas reserves evaluation. The material increase in reserves reflects exceptional organic reserves growth in addition to several accretive acquisitions completed throughout 2012. Reserve Report Highlights: Increased proven plus probable reserves by 215% to 17.2 mmboe (95% oil) and proven reserves by 201% to 11.5 mmboe (95% oil). Proven reserves represent 67% of [Read more]
Oil edges higher to US$96.44 amid strong durable goods news, weaker housing data
NEW YORK - The price of oil rose Monday after a strong durable goods report from the U.S. Commerce Department. Demand for long-lasting manufactured goods rose sharply in December with gains in volatile aircraft orders, the Commerce Department said. But the number of pending home sales fell last month after hitting a 2 1/2 year high in November. Benchmark West Texas Intermediate crude rose 56 cents to finish at US$96.44 a barrel on the New York Mercantile Exchange. Meanwhile, [Read more]
Canadian government moves to defend oilsands pipelines again…this time on US East Coast
The Canadian government has moved to defend the oil industry from yet another public-relations fire related to pipelines - this time on the U.S. East Coast. Canada's envoy to New England penned an editorial today in a Maine newspaper, two days after more than 1,000 protesters in the state expressed concern Alberta oil could soon flow across the region. Consul General Pat Binns says in his op-ed that the environmental record of oilsands production has improved in recent [Read more]
VIDEO: LNG: The Safe Fuel
Here's a classic video demonstrating how Liquified Natural Gas is one of the safest fuels for transport and use. [Read more]
PHOTOS: North Dakota Bakken Play Visible from Space
The North Dakota Bakken play has emerged into one of the hottest oil play in the united states. Activity in the area has become so sought after, the play has become clearly visible from space. See the photos below courtesy NASA: [Read more]
Nexen Announces 30-day Extension of the Arrangement Agreement Outside Date
Nexen Inc. ("Nexen") announced today that CNOOC Limited and Nexen Inc. have mutually agreed to extend the "Outside Date" of the Arrangement Agreement by 30 days to March 2, 2013. The Outside Date was originally January 31, 2013. Either party may, except in certain circumstances, extend the Outside Date from time to time if the required regulatory approvals have not been obtained, provided that in aggregate such extensions shall not exceed 75 business days from January 31, 2013. In [Read more]