BOE Report

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Invicta reports 78% increase in oil reserves in 2012

Invicta Energy Corp ("Invicta" or the "Company") is pleased to announce the results of its independent reserve evaluation prepared by Fekete Associates Inc. ("Fekete") in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and dated effective December 31, 2012, evaluating the Company's crude oil, natural gas liquids and natural gas reserves (the "Report").  The Report is primarily based on 34 gross (20 net) producing light oil wells at [Read more]

Ernst & Young report sees flurry of ‘for sale’ signs throughout oilpatch

  By Lauren Krugel CALGARY - Ernst & Young foresees a lot of "for sale" signs being posted on energy assets around the world — and Canada's oilpatch is no exception. The global advisory firm found 37 per cent of oil and gas respondents it surveyed globally are either in the process of selling assets or plan to do so over the next two years. Barry Munro, who heads up Ernst & Young's Canadian oil and gas group, said Canadian oilpatch companies face their own unique set of [Read more]

Politicians, industry professionals gather at economic summit in Calgary to hash out Alberta’s fiscal woes

  CALGARY - Politicians and industry professionals are debating the underlying reasons for Alberta's current fiscal troubles. Unsurprisingly, pipeline access came up as a major challenge, with oilsands crude unable to make it to markets that will pay a fair price - a problem Premier Alison Redford has called the "bitumen bubble." Economist Peter Tertzakian says Canada's only customer, the U.S., can meet its own energy needs but buys Canadian crude anyway because it's on [Read more]

Kerry promises ‘fair, transparent’ review of planned Keystone XL

  By Matthew Daly WASHINGTON - Secretary of State John Kerry on Friday promised a "fair and transparent" review of a Canadian company's plan to pipe oil from western Canada to refineries in Texas. In his first comments about the controversial Keystone XL pipeline since becoming secretary of state, Kerry said he is waiting for a review begun by his predecessor, Hillary Rodham Clinton, and hopes to make a decision in the "near term." The State Department has jurisdiction over the $7 [Read more]

Canada rig count up slightly from last week, down year over year

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Strategic Oil & Gas Ltd. Announces Grant of Stock Options

Strategic Oil & Gas Ltd. ("Strategic" or the "Company") (TSX VENTURE:SOG) announces that is has granted 300,000 options at an exercise price of $1.31 and 175,000 options at an exercise price of $ 1.30 to 2 insiders. Each option entitles the holder to acquire an equivalent number of common shares of the Company for a period of five years and was issued in accordance with the Company''s incentive stock option plan. ABOUT STRATEGIC Strategic is a well-capitalized junior oil and gas [Read more]

Tuscany Announces 2012 Year End Reserves of 1.5 Million BOE, NPV10 $29.0 Million, No Debt

Tuscany Energy Ltd. (TSX VENTURE:TUS) ("Tuscany" or the "Company") is pleased to provide a summary of the independent evaluation and estimate (the "McDaniel Report") of the Company''s proved and probable reserves as at December 31, 2012 prepared by McDaniel and Associates Consultants Ltd. ("McDaniel"). 2012 Reserves, no debt Proved plus probable reserves were 1,520 MBOE as of December 31, 2012, an 11% reduction from the prior year. The estimated net present value of future net revenue [Read more]