Canadian Oil Stocks

Oil Stocks and Oil Companies in Canada


PetroRio – Material Fact – Purchase of Interest in Brasoil

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RIO DE JANEIRO, Dec. 21, 2016 /CNW/ – PetroRio, (“Company” or “PetroRio”) (BM&FBOVESPA: PRIO3, TSX-V: PRJ), hereby informs the execution, through one of its subsidiaries, of a Share Purchase Agreement aiming to purchase the indirect interest equivalent to 23.19% held by Goldman Sachs & Co. (“GS”) in Brasoil do Brasil Exploração Petrolífera S.A. (“Brasoil”).

Brasoil is a holding company, with indirect stake of 10% over the rights and obligations of the Manati Field concession contract, that, in turn, currently produces 4.1 million cubic meters of natural gas per day (approximately 26 thousand barrels of oil equivalent per day), ranking … Continue Reading

Delphi Energy Corp. Announces New $80 Million Senior Secured Revolving Credit Facility

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CALGARY, ALBERTA–(Marketwired – Dec. 21, 2016) –

NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES

Delphi Energy Corp. (TSX:DEE) (“Delphi” or the “Company“) is pleased to announce that it has entered into a term sheet with respect to a new credit facility with Alberta Treasury Branches (“ATB”) as syndicate lead, of which the syndicate will also include the Bank of Nova Scotia (“Scotia”).

New Credit Facility

The new arrangement will provide Delphi with an $80 million senior secured revolving credit facility that will be available on a fully revolving basis until May 31, 2017. … Continue Reading

Canadian Spirit Resources Inc. Announces Closing of Unit Private Placement

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CALGARY, ALBERTA–(Marketwired – Dec. 21, 2016) – Canadian Spirit Resources Inc. (“CSRI” or the “Corporation”) (TSX VENTURE:SPI)(OTCBB:CSPUF) is pleased to announce that it has closed, subject to TSX Venture Exchange approval, its previously announced (see News Release dated December 1, 2016) private placement of units of the Corporation at a price of $0.12 per unit.

Each unit issued pursuant to the private placement consists of one common share of the Corporation and one-half of one common share purchase warrant (“Warrants”). Each whole Warrant entitles the holder to purchase an additional common share of the Corporation for a period of one … Continue Reading

Enbridge Gas Distribution Rates Change Effective January 1

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TORONTO, ONTARIO–(Marketwired – Dec. 21, 2016) – Enbridge Gas Distribution Inc. (Enbridge) has received approval from the Ontario Energy Board (OEB) for new rates, effective January 1, 2017. Typical residential customers* who buy their gas supply from Enbridge will see a total bill increase of about nine per cent, or $77 a year. As a result, their total bill will be about $900 a year.

The increase is mainly due to new charges from the Ontario Government’s cap and trade program. This cost is estimated at about $80 a year, or about $6 to $7 per month on average. It … Continue Reading

Marksmen Announces Proposed Private Placement

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CALGARY, ALBERTA–(Marketwired – Dec. 21, 2016) – Marksmen Energy Inc. (“Marksmen” or the “Company”) (TSX VENTURE:MAH)(OTCQB:MKSEF) announces that it plans to complete a non-brokered private placement of up to 12,500,000 units (the “Units”) of Marksmen at a price of $0.10 per Unit for aggregate gross proceeds of up to $1,250,000 (the “Offering”). There is no minimum Offering. The Units will be comprised of one (1) common share (“Common Share”) and one-half of one (1/2) share purchase warrant (“Warrant”) of Marksmen. Each whole Warrant entitles the holder thereof to purchase one Common Share for $0.25 expiring two (2) years from the … Continue Reading

CGX Energy Announces Changes to its Board of Directors

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TORONTO, Dec. 21, 2016 /CNW/ – CGX Energy Inc. (TSX-V – OYL) (“CGX Energy” or the “Company“) announced today that Messrs. Ronald Pantin, Serafino Iacono, Marino Ostos, and Michael Galego (collectively, the “Pacific Nominees“) have all resigned as members of the board of directors of the Company (the “Board“), effective November 30, 2016. The Company would like to thank the Pacific Nominees for their contributions.

The Company is pleased to announce the appointments of Messrs. Daniel A. Gillett and Erik Lyngberg to the board of directors effective immediately and subject to applicable regulatory approval. Mr. … Continue Reading

Saturn Minerals Inc. Extends Private Placement

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VANCOUVER, BRITISH COLUMBIA–(Marketwired – Dec. 21, 2016) – Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) (“Saturn” or the “Company”) is pleased to announce an extension and increase of its previously announced Private Placement. Based on current acquisition, exploration and development opportunities management of the Company has decided to extend and increase the Private Placement from 10,000,000 Units (the “Units”) at a price of CAD $0.10 per Unit for gross proceeds of up to CAD $1,000,000 (one million dollars) to 40,000,000 Units for gross proceeds of up to CAD $4,000,000 (four million dollars), on the same terms and conditions previously announced.

Each Unit … Continue Reading

Pengrowth Cancels Debentureholder Meeting

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CALGARY, ALBERTA–(Marketwired – Dec. 21, 2016) – Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) (“Pengrowth” or the “Company”) announces an update to its plan regarding the early redemption of its outstanding 6.25% convertible unsecured subordinated debentures due March 31, 2017 (the “Debentures”). As a result of ongoing negotiations with its term noteholders, to amend certain covenants in the notes and to extend the terms of some series of notes, the Company has agreed to cancel the meeting of Debentureholders that was scheduled to be held on Thursday, December 22, 2016 and to forgo its plan to early redeem the Debentures on December 30, … Continue Reading

Serinus Energy Inc.: Further Extension of Satu Mare Concession

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CALGARY, ALBERTA–(Marketwired – Dec. 21, 2016) – Serinus Energy Inc. (“Serinus”, “SEN” or the “Company”) (TSX:SEN)(WARSAW:SEN) is pleased to announce that today the National Agency for Mineral Resources (“NAMR”), the Romanian regulator, has granted an additional extension approval for the Phase 3 Extension Addendum (the “Addendum”) for the Satu Mare License (“Satu Mare”) in northwest Romania. On October 31, 2016, the Company announced the approval of the Addendum but noted that the start of the three year term was retroactively set to May 28, 2015, the date that the Company originally applied for the extension. Given that the delay in … Continue Reading

TransGlobe Energy Corporation Announces Closing of Canadian Asset Acquisition and Mid-Quarter Egypt Update for Q4 2016

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CALGARY, ALBERTA–(Marketwired – Dec. 20, 2016) – TransGlobe Energy Corporation (TSX:TGL)(NASDAQ:TGA) (“TransGlobe” or the “Company”) announces the closing of the Canadian acquisition in the Harmattan area of west central Alberta and a mid-quarter Egypt update for the fourth quarter of 2016. All dollar values are expressed in Canadian dollars unless otherwise stated.

Acquisition Highlights- Canada

  • Current production ~3,100 barrels of oil equivalent (“boe”) per day (57% liquids weighted)1
  • Operatorship and high working interest in the majority of assets (~88% of current production)
  • Total Proved reserves ~11.8 million boe2, 5
  • Total Proved plus Probable reserves ~21.3 million boe2, 5
  • Proved plus
    • … Continue Reading

    Lonestar Closes Debenture Financing

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    SYLVAN LAKE, ALBERTA–(Marketwired – Dec. 20, 2016) – Lonestar West Inc. (TSX VENTURE:LSI) (the “Company” and/or “Lonestar“) announces that it has completed a subordinate secured debenture financing in the aggregate amount of $800,000 (the “Debentures“). The Debentures carry an annual interest rate of 14% and have a maturity date of January 31, 2019. The obligations under the Debentures are secured by the Company’s grant of a security interest in its assets (including the assets of its subsidiaries) in favour of the debenture holders. This security interest is subordinate to the Company’s indebtedness held by HSBC Bank Canada and rank equally … Continue Reading

    Bonterra Energy Corp. Announces 2017 Operational and Financial Budget and Operations Update for 2016

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    CALGARY, ALBERTA–(Marketwired – Dec. 20, 2016) – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX:BNE) (“Bonterra” or “the Company”) today announces its 2017 operational and financial budget.

    In the interests of maintaining a prudent balance between funds flow and capital spending plus dividends, Bonterra has set its 2017 capital expenditures budget at approximately $70 million which will largely be directed to new wells and facility upgrades primarily in the Pembina Cardium area. Given Bonterra’s low corporate production decline rate of approximately 19 percent, the 2017 capital budget is anticipated to increase average annual production by approximately five percent over 2016, with … Continue Reading