CALGARY, ALBERTA--(Marketwire - March 19, 2013) - Arsenal Energy Inc. (AEI.TO) (AEYIF) Arsenal is pleased to release its Q4 and full year 2012 financial and operating results. Q4 2012 is highlighted by an 18% increase in cash flow from operations to $10.0 million from $8.4 million generated in Q4 2011. The cash flow increase is primarily due to a 42% increase in light oil production. SUMMARY OF FINANCIAL AND OPERATIONAL RESULTS Three Months Ended December 31 Year Ended [Read more]
Headlines
Harper names envoy to deal with First Nations concerns on Gateway
OTTAWA - Prime Minister Stephen Harper has named an envoy to defuse the tension between First Nations and the energy and pipeline industry that threatens his plan to quickly develop Canada's natural resources. Vancouver-based lawyer Doug Eyford will focus on energy infrastructure in Western Canada and submit a preliminary report directly to Harper by the end of June and a final report by the end of November. He is to examine First Nations concerns about the troubled Northern [Read more]
Pinecrest Energy Inc. announces its December 31, 2012 Year End Results and 2012 Year End Reserves
TSX Venture Exchange: PRY CALGARY, March 18, 2013 /CNW/ - Pinecrest Energy Inc. ("Pinecrest" or the "Company") is pleased to announce that it has filed on SEDAR its audited annual financial statements, related Management's Discussion and Analysis ("MD&A") and Annual Information Form for the year ended December 31, 2012. The statements will be available for review at www.sedar.com or www.pinecrestenergy.com. 2012 HIGHLIGHTS Increased proved plus probable reserves by 107% to 16.2 mmboe [Read more]
Legacy Oil + Gas Inc. announces year-end results and files annual information form
CALGARY , March 18, 2013 /CNW/ - Legacy Oil + Gas Inc. ("Legacy" or the "Company") (LEG.TO) is pleased to announce it has filed on SEDAR its audited financial statements and related Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2012 as well as its annual information form ("AIF") for the year ended December 31, 2012 . Selected financial and operational information is outlined below and should be read in conjunction with Legacy's audited financial statements, [Read more]
LGX Oil + Gas Inc. Announces Year-end Results, Reserve Information, 2013 Guidance and Files Annual Information Form
CALGARY, March 18, 2013 /CNW/ - LGX Oil + Gas Inc. ("LGX" or the "Company") (TSXV:OIL.V) is pleased to announce it has filed on SEDAR its audited financial statements and related Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2012 as well as its annual information form ("AIF") for the year ended December 31, 2012. Selected financial and operational information is outlined below and should be read in conjunction with LGX's audited financial statements, the [Read more]
More inspections, tougher pollution penalties for oil tanker traffic
VANCOUVER - The federal government is announcing changes to improve oil tanker safety to shore up support for controversial oil exports off the British Columbia coast. The changes include annual tanker inspections, increased aerial surveillance and stronger measures for pollution prevention and response at oil handling facilities. Pollution penalties will be extended and Ottawa will create a tanker safety expert panel to review the current regime and make further [Read more]
Canada U.S. ties would suffer from a Keystone rejection: Redford
OTTAWA - A U.S. rejection of the Keystone XL pipeline proposal would have far-reaching implications for the Canada-U.S. relationship, Alberta Premier Alison Redford warns. In an interview with The Canadian Press on Monday, Redford said Canada and the United States have a long history of economic integration that would be thrown into question by a 'No' to the pipeline. "This is fundamental and I don't think this is as simple as yes or no on a project," she said during a three-day [Read more]
Oil recovers from early losses as worries about Europe dwindle; natural gas rises
NEW YORK, N.Y. - The price of oil reversed sharp early losses Monday as nervousness over a bailout plan in Cyprus abated. By early afternoon in New York, benchmark West Texas Intermediate crude for April delivery was down just three cents at US$93.42 a barrel after having dropped as low as US$91.76. Traders initially worried about possible fallout from a plan to pay for a bailout for cash-strapped Cyprus by slapping a tax on deposits in the country's banks. Some bank customers [Read more]
Oklahoma company Williams plans petrochemical feedstock plant near Edmonton
CALGARY - An Oklahoma-based company plans to spend up to $900 million to build a plant that converts Alberta propane into a more valuable product used to make plastics. Williams says the facility will be the first in Canada to make polymer-grade propylene. The gas will be transported on railcars to U.S. Gulf Coast petrochemical producers, but the company is also exploring ways to develop a market within Alberta. Much of the propane Williams will use is a byproduct of the [Read more]
Redford calls Mulcair’s comments in U.S. “RIDICULOUS”
OTTAWA - Alberta's premier says comments made by Opposition leader Thomas Mulcair in the U.S. last week were ridiculous. Alison Redford tells The Canadian Press she's disappointed Mulcair seems to be taking the issue of Canada's energy market lightly and called his trip a political stunt. Mulcair was in the U.S. capital last week and spoke out against Canada's environmental record, while also warning that the proposed Keystone XL pipeline would cost 40,000 Canadian [Read more]