CALGARY, ALBERTA--(Marketwired - Jan. 2, 2015) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) reported today on its preliminary plans for 2015. Michael Binnion, President and Chief Executive Officer of Questerre, commented, "Our goals for this year are to maintain a strong balance sheet and finance our capital program primarily with cash flow and, to a lesser extent, our credit facilities. In 2015, we expect to generate positive cash flow from operations [Read more]
Headlines
Tamarack Valley Energy Ltd. Announces a Record 2014 Exit Production Rate of 9,700 boe/d and Temporary Oil Battery Curtailment
CALGARY, ALBERTA--(Marketwired - Jan. 2, 2015) - Tamarack Valley Energy Ltd. (TSX VENTURE:TVE) ("Tamarack" or the "Company") is pleased to announce that a successful second half 2014 drilling program in the Wilson Creek area contributed to a record exit production rate averaging approximately 9,700 boe/d (based on field estimates) during the last 14 days of December, 2014, exceeding its exit production target of 9,500 boe/d. All 10.9 net wells drilled in the fourth quarter were brought on [Read more]
Groundstar Resources Limited Announces Closing of Previously Announced Non-Brokered Private Placement Financing
CALGARY, ALBERTA--(Marketwired - Jan. 2, 2015) - Groundstar Resources Limited (TSX VENTURE:GSA) (the "Company") is pleased to announce that it has closed its previously announced financing through the issuance of 5,750,000 common shares in the capital of the Company issued on a "flow-through" basis within the meaning of the Income Tax Act (Canada) (the "Flow-Through Shares") at a price of $0.10 per Flow-Through Share by way of a non-brokered private placement for total gross proceeds of $575, [Read more]
What’s ahead for oil prices? 2008 versus 2014
The recent drop in oil prices bears similarities to the tremendous drop of 2008, possibly foreshadowing what's to come in the new year. Let's have a look back at the performance of crude oil in 2008: Oil started the year around $100/bbl and quickly shot up to nearly $150 by June. The price then declined by over $110 and by December, WTI crude oil finished near $35/bbl. Although not as drastic, this year's price drop is extraordinarily similar in terms of timing and [Read more]
Keyera Announces Closing of Ricinus Gas Plant Acquisition
CALGARY, Dec. 31, 2014 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it has closed its previously announced acquisition of a 70.79% ownership interest in the Ricinus deep-cut gas plant (the "Plant") in west central Alberta for a purchase price of $65 million. Upon closing, Keyera became operator of the facility. About Keyera Keyera Corp. (TSX:KEY) operates one of the largest natural gas midstream businesses in Canada. Its business consists of natural gas gathering and [Read more]
Quattro Closes Asset Purchase Agreement for 2,000 Well-log Database
CALGARY, Alberta, Dec. 31, 2014 (GLOBE NEWSWIRE) -- Quattro Exploration and Production Ltd. (TSX-V:QXP) ("Quattro" or the "Company") is pleased to announce that it has closed its previously announced asset purchase agreement (the "Agreement") with an Alberta-based private company acquiring the Company's well database. The acquisition was funded with the issuance of 2,000 Class C Preferred Shares ("Preferred Shares") priced @ $100 per share, paying an annual preferred dividend of $8.00 per [Read more]
Venezuela confirms oil-rich economy struggling to emerge from deep recession
CARACAS, Venezuela - Venezuela's socialist government has confirmed that the economy fell into a deep recession this year but blamed the slump on opponents trying to sabotage activity in the oil-rich nation.The central bank said gross domestic product contracted more than 4.8 per cent on an annual basis in the first two quarters of the year and 2.3 per cent in the July-September period. Inflation reached 64 per cent in November.The report was no surprise to economists, who blame the government's [Read more]
Ivanhoe Energy receives an additional US$540,000 short-term loan from Robert Friedland
VANCOUVER, Dec. 30, 2014 /CNW/ - Ivanhoe Energy Inc. (TSX: IE; NASDAQ: IVAN) (TSX: IE.DB) announced today that the company's working capital has been augmented by a further US$540,000 (approximately C$626,000) provided by founder Robert Friedland. The new funds are in addition to the US$2.2 million (approximately C$2.4 million) secured bridge loan provided by Mr. Friedland in October 2014, details of which are contained in Ivanhoe Energy's October 10, 2014 news release, and brings the [Read more]
Shoreline Energy Corp. Provides Update to Debenture Holders
CALGARY, ALBERTA--(Marketwired - Dec. 30, 2014) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Corporation") announces that it will not make the December 31, 2014 interest payment to holders (the "Debentureholders") of the Corporation's convertible debentures (the "Debentures"). The board of directors of the Corporation intends to make a proposal to the Debentureholders in the first quarter of 2015 for the purpose of facilitating the Corporation's restructuring and strategic corporate [Read more]
Southern Pacific Elects Not to Make Convertible Debenture Interest Payment During Strategic Review and Capital Restructuring Process
CALGARY, ALBERTA--(Marketwired - Dec. 30, 2014) - Southern Pacific Resource Corp.'s ("Southern Pacific" or the "Company") (TSX:STP) Board of Directors has been engaged in a strategic review process with RBC Capital Markets, its financial advisor, to devise and implement a strategy to address the Company's liquidity and financing requirements and improve its capital structure. Strategic and financial alternatives under consideration are focused on relieving the financial burden of the current [Read more]