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O/G JournalTORC Oil & Gas Ltd. (TOG:TSX) announced on April 27th that it has entered into an agreement to acquire high quality, light oil assets which are complementary to TORC's existing assets in southeast Saskatchewan. The strategic acquisition includes 4,750 boepd (~98% light oil and liquids) of low decline, high netback, light oil producing assets in southeast Saskatchewan and Manitoba. Total consideration for the Acquisition is $430 million, payable in cash.
Brett Herman, President and CEO stated, "The Acquisition complements our light oil platform and will provide a strong and stable cash flow base further strengthening the sustainability of our business model while the high quality drilling inventory will enhance our capital program to create long term value for our shareholders."
TORC Oil & Gas Ltd.is a Calgary based company engaged in the exploration for, acquisition, development, and production of petroleum and natural gas resources in western Canada. Company has a market cap of $1.2 billion and approximately 113 million shares outstanding.
Toro Oil & Gas Ltd. (TOO:TSX) announced on April 27th that it filed its financial and operating results for the fourth quarter and year ended December 31, 2014 on SEDAR.
Some of the highlights for the year include: Company closed four additional acquisitions, bringing Toro's total land position to 122 net sections of 100% working interest lands in the East Central Alberta Viking oil prone fairway, all at very competitive acquisition metrics. Toro closed a $25 million acquisition of the Hamilton Lake Viking Oil Unit plus non-Unit lands consisting of 60 net sections, 400 boe/d of production and an internally estimated 300 million barrels of original oil in place.
Toro Oil & Gas Ltd. is a Calgary based oil and gas company with operations in western Canada. Company has a market cap of $36 million and approximately 55.5 million shares outstanding.
CNOOC Limited (CNU:TSX) announced on April 24th its operational statistics for the first quarter of 2015. Company reported that total net production in the first quarter of 2015 increased 9.4% year over year to 118.3 million barrels of oil equivalent, primarily due to the production contribution from new projects that came on stream in offshore China since 2014.
In the first quarter, the company made 3 new discoveries. In offshore China and overseas, the Company made 9 and 3 successful appraisal wells, respectively. In offshore China, the new discovery Penglai 20-2 is expected to drive the joint development with the adjacent Penglai 20-3 oil field. After successful appraisals, the Bozhong 34-9 oil and gas structure is expected to be developed into a mid-sized oil and gas field.
Mr. Li Fanrong, CEO of the Company commented, "Under the harsh circumstances, the company's overall production and operations remained stable in the first quarter. Our cost control and enhanced efficiency measures were executed effectively and achieved good results.”
CNOOC Limited is a Hong Kong based Chinese oil and gas company. Company has a market cap of $1.9 billion and approximately 9.5 million shares outstanding.
Ithaca Energy Inc. (IAE:TSX) announced on April 24th that it has entered into an agreement to sell its wholly owned subsidiary, Ithaca Petroleum Norge AS, for an initial consideration of US$60 million. Ithaca Norge will be acquired by MOL Nordsjon B.V., a wholly owned subsidiary of the Hungarian listed company. The transaction has an effective date of 1 January 2015 and is expected to complete in the third quarter of 2015.
Les Thomas, Chief Executive Officer, commented, "The team has done an excellent job in restructuring the Norwegian business following its acquisition as part of the Valiant transaction in 2013. The sale provides Ithaca with the right opportunity to now monetise the value of this non-core part of the Company while retaining upside exposure to the anticipated drilling program over the next two years."
Ithaca Energy Inc. Is a Calgary based oil and gas company focused on developing its assets in the North Sea. Company has a market cap of $313 million and approximately 330 million shares outstanding.
Mart Resources, Inc. (MMT:TSX) announced on April 24th its March production volumes and operations update. Umusadege field production averaged approximately 19,000 barrels of oil per day during March 2015 based on both calendar days and production days. No downtime occurred during March 2015. Total production from the Umusadege field in March 2015 was approximately 588,860 barrels of oil.
The NAOC export pipeline was shut down for five days in early April 2015 due to vandalism of the ASE pipeline. The NAOC export pipeline resumed normal operations on April 11, 2015. The NAOC pipeline was also shut down from April 16 to 19, 2015 because of a lack of storage capacity at the Brass River export terminal due to export shipment delays.
Operations have commenced on the UMU-8 well site to side-track and deepen the existing UMU-8 well. The UMU-8 drilling program is intended to appraise intervals below the XV sand, specifically horizons XVIII through XXI, which have not yet been penetrated in the central prospect. The target depth is approximately 8500 feet. Trucking of crude oil from the UMU-13 well to the Central Processing Facility has commenced and will continue until a permanent flowline is constructed to tie the UMU-13 well into the facility. An average of about 1,400 bopd is currently being trucked from UMU-13, and the target volume is approximately 3,000 bopd.
Mart Resources is a Calgary based international company with operations in Africa. Company has a market cap of $204 million and approximately 357 million shares outstanding.
Relentless Resources Ltd. (RRL:TSXV) announced on April 24th its audited financial statements and related management's discussion and analysis for the year ended December 31, 2014. Company also announced the filing of its reserves data and other oil and natural gas information on SEDAR.
Company reported that total proved plus probable reserves increased by 387% to 658.5 mboe as compared to reserves of 170.1 mboe as at December 31, 2013. The total proved reserves increased 412% from 114.7 mboe in December 2013 to 472.5 mboe in December 2014. On a total proved basis, the total finding, development and acquisition costs were $16.14/boe. On a total proved plus probable basis, the total finding, development and acquisition costs were $12.30/boe.
In Q3 2014, Relentless began development of the Heathdale assets acquired in June 2014. The $700,000 acquisition included a 100% working interest in 4 wells (1 producing, 3 non-producing), as well as associated lands. In July and August 2014, Relentless recompleted the 3 non-producing well bores resulting in 2 producing oil wells and 1 suspended gas well.
Relentless' current field production estimate, prior to recommencing the 8-7 wells production, is approximately 380 boe/d (55% oil and liquids). Current net debt is estimated at $2.5 million on a newly expanded credit facility of $4.0 million.
Relentless is a Calgary based emerging oil and natural gas company, engaged in the exploration, development, acquisition and production of natural gas and light gravity crude oil reserves in Alberta. Company has a market cap of $9.2 million and approximately 64 million shares outstanding.
Suncor Energy Inc. * (SU:TSX) announced that it will release its first quarter financial results on Wednesday, April 29, 2015 at 8:00 p.m. MT (10:00 p.m. ET). A teleconference to review the first quarter will be held at 7:30 a.m. MT (9:30 a.m. ET) on Thursday, April 30, 2015.
Representing management will be Steve Williams, president and chief executive officer and Alister Cowan, executive vice president and chief financial officer. A question and answer period will follow brief remarks from management. Steve Douglas, vice president, Investor Relations will host the call.
Suncor Energy is Canada's leading integrated energy company based in Calgary. Suncor's operations include oil sands development and upgrading, conventional and offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. Company has a market cap of $58 billion and approximately 1.4 billion shares outstanding.
Xtreme Drilling and Coil Services Corp.* (XDC:TSX) announced that the nominees listed in the information circular dated March 11, 2015 for the annual and special meeting of shareholders of Xtreme on April 22, 2015 (the "Annual and Special Meeting") were elected as directors of Xtreme.
Xtreme Drilling and Coil Services Corp. designs, builds, and operates a fleet of high specification drilling rigs and coiled tubing well service units. Company is based in Calgary. Xtreme Drilling has a market cap of $169 million and approximately 82 million shares outstanding.
Alvopetro Energy Ltd. (ALV:TSXV) announced on April 23rd an operational update, our updated 2015 capital plan, announce our fourth quarter 2014 and year-end 2014 financial results and the filing of our annual information form.
Alvopetro had a revenue of $212 thousand in the fourth quarter and a revenue of $1.1 million in 2014.Company reported a net loss of $24.7 million in the fourth quarter as a result of a $22.6 million impairment charge to our exploration assets ($20.3 million) and our property, plant and equipment assets ($2.3 million). For the year 2014, company reported a loss of $7.7 million.
In December 2014, company completed drilling its 197(2) well on Block 197, which reached a total depth of 1,669 meters and encountered 78 meters of potential net natural gas pay. In October 2014, company completed drilling its 183(1) well, reaching a total depth of 3,550 meters and encountered 189 meters of potential net hydrocarbon pay over several intervals.
Alvopetro Energy Ltd. is an independent exploration and production company in Brazil. Company has a market cap of $44 million and approximately 85 million shares outstanding.
CO2 Solutions Inc. (CST:TSXV) announced on April 23rd the results of the pilot testing of CO2 Solutions' carbon capture process, completed in January 2015. The results provide support that the Company's innovative technology can provide reduced operating costs and reduced parasitic load relative to conventional CO2 capture processes.
The results indicate that the CO2 Solutions' enzyme-accelerated process, using its proprietary 1T1 enzyme, shows potential for CO2 capture that may be better than existing conventional capture technologies. In addition, CO2 Solutions' technology requires substantially lower temperatures for regeneration than comparable technologies, which would allow for the use of nil-value low-grade heat (<80°C).
CO2 Solutions is an innovator in the field of enzyme-enabled carbon capture and has been actively working to develop and commercialize the technology for stationary sources of carbon pollution. Company is based in Quebec City. CO2 Solutions has a market cap of $9 million and approximately 100.5 million shares outstanding.
High North Resources Ltd. (HN:TSXV) announced on April 23rd that it has postponed the extraordinary meeting of the holders of its 12.00% convertible unsecured subordinated debentures due April 4, 2015. The meeting will now be held on June 4, 2015, at 10:00 a.m. (Mountain Daylight Time), at First Canadian Centre, Conference Centre, 350 - 7th Avenue S.W., Calgary, Alberta.
At the Meeting, the Debentureholders will be asked to vote on a resolution to approve a plan of arrangement, which provides for, among other things, certain amendments to the Debentures , as previously announced in High North's press release of March 30, 2015.
High North is a Calgary based company that explores, develops and produces oil and natural gas in Western Canada. Company has a market cap of $3.6 million and approximately 72 million shares outstanding.
Kicking Horse Energy Inc. (KCK:TSXV) announced on April 23rd its operating and financial results for the three and nine months ended December 31, 2014. Company reported a sales revenue of $4.5 million in the fourth quarter and a revenue of $10 million in the nine month period ending December 31st, 2014. Company reported a loss of $2.8 million in the fourth quarter and a loss of $1.2 million in the 9 month period ending December 31st, 2014.
Company expects its 2015 production to average between 3,200 to 3,700 boe/d and 2015 exit production to be approximately 3,600 to 3,900 boe/d. Company's capital program for the first half of 2015 will be $20 - $25 million, with the company currently planning for a capital budget of $12 - $17 million for the second half of 2015.
Kicking Horse Energy Inc. is a Calgary based oil and gas company which is focused on the development of Alberta's liquids-rich Montney Formation tight gas play. Company has a market cap of $198 million and approximately 60 million shares outstanding.
Legacy Oil + Gas Inc. (LEG:TSX) announced on April 23rd that the annual general meeting of shareholders of the Company scheduled to be held on May 26, 2015 will be rescheduled to June 30, 2015.
Legacy and FrontFour have also agreed to a mutual standstill on proxy solicitation activities until May 25, 2015 and to a waiver of Legacy's advance notice by-laws for any director nominations made by FrontFour at least 21 days prior to the rescheduled meeting.
Legacy Oil + Gas Inc.is a Calgary based oil and gas company. Legacy has a market cap of $523 million and approximately 200 million shares outstanding.
Mitra Energy Inc. (MTE:TSX) announced on April 23rd that Mitra Energy Inc., formerly Petra Petroleum Inc., is pleased to announce the closing of the acquisition of all of the outstanding shares of Mitra Energy Limited. The transaction constituted a reverse takeover transaction of Petra Petroleum Inc.
Concurrent with the closing of the Acquisition, the Company acquired all of the outstanding convertible bonds of the Target, other than the bonds already held by the Company, in exchange for common shares of the Company.
Mitra is a Vancouver based company engaged in the business of exploration and development of oil and gas resources in Southeast Asia. Company has a market cap of $105 million and approximately 70 million shares outstanding.
PRD Energy Inc. (PRD:TSXV) announced on April 23rd filing of its financial statements as at and for the year ended December 31, 2014, and provides an operational update on activities to date as well as an outlook for the remainder of 2015. Company's year end filings including; consolidated financial statements and management's discussion and analysis for the year ended December 31, 2014 have been posted on the company's website and on SEDAR.
Company has reviewed its near term project portfolio and based on its analysis intends to proceed with the development of Boerger, Volkensen and Sittensen West. These projects remain economic, but not as robust as previously expected given the substantial decline in oil prices. The Company continues to review its budgets based on the outlook for commodity prices, permitting progress over its plays in Germany and other opportunities with the objective of maintaining a high degree of operational flexibility.
During the fourth quarter of 2014, the Boerger 7A well produced 1,524 barrels of oil over 27 operating days (~56 barrels per day), 762 barrels net to PRD. The well was shut in between November 10th, 2014 and February 18th , 2015, to conduct minor upgrades and repairs to the surface facilities. Since February 18th , 2015, the well was placed on production with some downtime between March 12th and March 26th .
PRD Energy Inc. is a Calgary based oil and gas company engaged in the exploration, development and acquisition of, natural gas and crude oil in Germany. Company has a market cap of $19 million and approximately 142 million shares outstanding.
CNOOC Limited (CNU:TSX) announced on April 22nd that it has filed with the United States Securities and Exchange Commission its 2014 annual report on Form 20-F ("annual report") that included audited financial statements for the year ended December 31, 2014.
CNOOC Limited is a Hong Kong based Chinese oil and gas company. Company has a market cap of $1.9 billion and approximately 9.5 million shares outstanding.
Enseco Energy Services Corp. (ENS:TSXV) announced on April 22nd its financial results for the three and twelve months ended December 31, 2014.
Company reported a revenue of $20.8 million and a net income of $920 thousand in the fourth quarter of 2014. Overall revenues for the Company increased by 35% over last year and 25% in the comparative quarter.
Despite the revenue improvements during the year, the Company had an operating loss of approximately $1.9 million and a working capital deficit at December 31, 2014 of approximately $14 million. The Company was not in compliance with its financial covenants under its credit agreements and anticipates continued violations for all of 2015.
Enseco is a supplier of directional drilling, production testing and frac flowback services operating throughout the Western Canadian Sedimentary Basin and select markets in the United States. Company is located in Calgary. Enesco has a market cap of $2.5 million and approximately 22 million shares outstanding.
Essential Energy Services Ltd. (ESN:TSX) announced on April 2nd that it will release its 2015 first quarter financial results on May 5, 2015 and has scheduled a conference call and webcast at 10:00 am MT (12:00 pm ET) on May 6, 2015. An archived recording of the conference call will be available approximately one hour after completion of the call until May 24, 2015. A live webcast of the conference call will be accessible on Essential's website.
Essential is a Calgary based corporation that provides oilfield services to producers in western Canada for producing wells and new drilling activity. Company has a market cap of $135 million and approximately 126 million shares outstanding.
Hemisphere Energy Corporation (HME:TSXV) announced on April 2nd that it has decided to restate certain financial information for the year ended December 31, 2013. The 2013 Restatement affects only non-cash items and therefore has no impact on cash flow.
The material changes to be included in the 2013 Restatement will affect the Company's impairment, depletion, and decommissioning costs and will have a positive impact, significantly reducing the Company's loss in December 2013 by $3.3 million from $3.8 million to $0.5 million.
Hemisphere Energy Corporation is a Vancouver based producing oil and gas company focused on developing conventional oil assets in western Canada. Company has a market cap of $25 million and approximately 76 million shares outstanding.
Mapan Energy Ltd. (MPG:TSX) announced on April 22nd e the appointment of Brian Prokop, Managing Director, Capital Markets at Integral Capital Markets and Chairman and CEO of Echelon Foods, as an additional independent director of the cCompany effective immediately.
Upon Mr. Prokop's appointment, Wilf Gobert, the Chairman of the Board of Mapan said, "Brian's 30 years of broad operational and financial experience across all facets of the oil and gas industry will add valuable perspective to our Board of Directors. We appreciate his willingness to serve as a director and look forward to benefitting from his judgment and counsel."
Mapan Energy Ltd. is a Calgary based oil and gas company with operations in Alberta and British Columbia. Company has a market cap of $66 million and approximately 71 million shares outstanding.
Marksmen Energy Inc.* (MAH:TSXV) announced an operations update. Company reported the completion of the water injection facility located at BJ-78 #6. Marksmen has advanced 100% of funds to complete the water disposal well. The well is licensed, the surface lease has been prepared and tanks and pumps are scheduled for delivery and installation in the next two to three weeks.
Company anticipates the facility to be fully operational by mid-May. This facility will allow Marksmen to process water from all of the Company's wells, and thereby is expected to significantly reducing our operating costs on each well. The disposal well is a very important step in the on-going optimization work associated with all of Marksmen's wells.
Marksmen has entered into a seismic acquisition agreement with a third party, to undertake a joint 3D seismic acquisition program of approximately 4.4 square miles. Survey work is planned to begin immediately followed by the seismic acquisition.
Marksmen Energy Inc. is a Calgary based oil and gas company engaged in the exploration, development of and production of petroleum and natural gas properties in Ohio and Western Canada. Company has a market cap of $7.9 million and approximately 61million shares outstanding.
Penn West Petroleum Limited (PWT:TSX) announced on April 22nd that it will release its first quarter 2015 financial and operating results on Thursday, April 30, 2015 before North American markets open. The first quarter 2015 management's discussion and analysis and unaudited consolidated financial statements will be available on company’s website and on SEDAR. A presentation will accompany the conference call and will be available via the webcast.
Penn West Petroleum is a Calgary based oil and gas company with operations in western Canada. Company has a market cap of $1.4 billion and approximately 502 million shares outstanding.
Parkland Fuel Corporation* (PKI:TSX) announced that it will release its 2015 first quarter results on Tuesday, May 5, 2015 after market close and will host a conference call and webcast on Wednesday, May 6, 2015 at 7:00am MT (9:00am ET).
Financial Statements and Management's Discussion and Analysis will also be posted on the company website and on SEDAR.
Parkland also announced its Annual General Meeting will be held on Wednesday, May 6, 2015. The meeting will be at the Metropolitan Conference Centre in Calgary, Alberta.
Parkland Fuel Corporation is Red Deer based company. It is a distributor and marketer of fuels and lubricants. Company has a market cap of $2.2 billion and approximately 83 million shares outstanding.
TransCanada Corporation* (TRP:TSX) announced that it has reached a project agreement with the Gitanyow First Nation of northern B.C. that provides the Gitanyow First Nation with benefits related to the PRGT pipeline project, and which confirms Gitanyow First Nation support for the Project.
Dean Patry, president of Prince Rupert Gas Transmission Ltd. stated, "We are very pleased to have concluded this Project Agreement with Gitanyow First Nation. This agreement is an important milestone for us, and reflects our commitment to engage with First Nations in a meaningful way. We strongly believe that ongoing collaboration is the only way to build and keep a positive relationship as we move this project forward."
TransCanada is a Calgary based company which operates a network of natural gas pipelines that extends more than 68,000 kilometers (42,100 miles) in North America. Company has a market cap of $40.3 billion and approximately 709 million shares outstanding.
Iona Energy Inc. (INA:TSX) announced on April 21st the filing of amended and restated Bond Agreement. Company reports that it has issued US$275 million in senior secured bonds . Further to the press releases of March 12, 2015, calling a bondholder meeting and of March 27, 2015, announcing that all motions at the bondholder meeting had been passed, Iona has now executed an amended and restated bond agreement among the Issuer and Nordic Trustee ASA, as bond trustee, setting out the terms and conditions of the bond amendments governing the Bonds.
Iona is a Calgary based oil and gas company with assets in the United Kingdom's North Sea. Company has a market cap of $21 million and approximately 351 million shares outstanding.
Pine Cliff Energy Ltd. (PNE:TSXV) announced on April 21st that it has, in conjunction with Velvet Energy Ltd., entered into a purchase and sale agreement with a mid-size oil and gas producer to acquire oil and natural gas assets in both of its Southern core area and its Carrot Creek/Edson core area in the Province of Alberta for cash consideration of $15.94 million.
The Carrot Creek/ Edson Assets possess a predictable low cost production profile, long reserve life and a geographically focused asset base contiguous with Pine Cliff's current Carrot Creek/Edson core area. The Carrot Creek/Edson Assets produce approximately 585 barrels of oil equivalent per day at a decline rate of 13%, are 76% weighted to natural gas, are approximately 76% operated and include ownership in key strategic infrastructure.
Pine Cliff Energy Ltd is a Calgary based company engaged in the exploration, development and production of oil & natural gas in the Western Canadian Sedimentary Basin. Pine Cliff has a market cap of $373 million and approximately 235 million shares outstanding.
Shoal Point Energy Ltd.* (SHP:CNX) announced that the government appointed Panel mandated to review the socio-economic and environmental implications of the hydraulic fracturing process in Western Newfoundland has initiated an interactive website. All studies, reports and documentation the Panel is considering in its review can be found on the web site.
Mark Jarvis, CEO of Shoal Point Energy commented, “We are pleased to see that the Panel is proceeding in a transparent manner. There is a vast amount of information on the site and we have just started to go through it, but our initial impression is that the review is science based. We look forward to providing input and to participating in public forums organized by the panel."
Shoal Point Energy Ltd. is a Vancouver based oil and gas company. The core assets of the Company are its oil and gas interests in the Green Point Shale area in western Newfoundland. Company has a market cap of $2.4 million and approximately 277 million shares outstanding.
Tidewater Midstream and Infrastructure Ltd. (TWM:TSXV) announced on April 21st the appointment of Joel A. MacLeod assuming the role of President and Chief Executive Officer, Mr. Doug Fraser as a Director of the Corporation and an operational update.
Board of Directors of Tidewater announced that they have agreed to appoint Mr. Joel A. MacLeod as the President and CEO of Tidewater, effective immediately. Mr. MacLeod will also continue on as the Chairman of the Corporation.
Tidewater also announced that it has entered into an agreement with a senior integrated oil and gas producer to utilize its five railcars and has leased an additional ten new pressure railcars which it will take delivery of in approximately 60 days.
Tidewater has also received its export permit from the National Energy Board to export propane and butane from Canada.
Tidewater Midstream is a newly incorporated entity formed to pursue the purchase, sale, and transportation of natural gas liquids throughout North America and export to overseas markets. Company is based in Calgary. Tidewater has a market cap of $43 million and approximately 69 million shares outstanding.
Traverse Energy Ltd.* (TVL:TSXV) announced that it granted stock options to its directors and officers to purchase 1,750,000 common shares with an exercise price of $0.62 per share and an expiry date 5 years from the date of grant. The options vest immediately upon grant. The total number of options outstanding as of the date hereof is 6,880,000.
Traverse Energy is a junior oil and natural gas exploration and development company based in Calgary. Company has a market cap of $43 million and approximately 69 million shares outstanding.
Westcore Energy Ltd. (WTR:TSXV) announced on April 21st a corporate update. Company reported that it has formalized its working interest in the Riverside heavy oil field of Allstar Energy Limited, located 16 km north of the town of Leader in Western Saskatchewan.
In accordance with the Farm-in Agreement entered into between Westcore and Allstar in fiscal 2012, as amended in June 2014, Westcore now has a formalized 5.50% interest in 6 wells at Riverside. To date, 3 of these 6 wells have been completed and equipped for production.
All production in the Riverside field is currently shut-in for spring breakup. The decision to re-initiate production post break-up will rely to a large extent on the current market price for heavy oil at the time.
Westcore Energy Ltd. is a Calgary based oil and gas company engaged in the business of acquiring, exploring, and developing resource properties in Western Canada. Company has a market cap of 384 thousand and approximately 38.5 million shares outstanding.
Artisan Energy Corporation (AEC:TSXV) announced on April 20th that it has completed drilling of the first two wells of its 2015 Canadian Exploration Expense flow-through program and both wells have been cased for testing and production. Approximately $1,600,000 of Artisan's $5,130,000 2015 Canadian Exploration Expense budget and obligation has been spent.
Artisan drilled at its Chip Lake its vertical well Artisan Wildwood 9-19-53-9W5 which was cased as a new pool gas discovery just before Spring break-up. Plans are underway to resume operations and complete, stimulate and test this well as soon as road bans are removed.
In eastern Alberta Artisan drilled and cased the vertical well Artisan Sedalia 7-7-31-5W4. This well was perforated in the Detrital formation on January 11, 2015 in advance of a January 14, 2015 Crown land expiry. Plans are underway to resume operations on this well once road bans are removed, which may include stimulating the Detrital formation.
Artisan's remaining 2015 CEE operations are expected to include the drilling of: (i) a horizontal well at Chip Lake targeting light oil and natural gas liquid and a horizontal well at its other core property at Tomahawk, Alberta.
Artisan Energy Corporation is a Calgary based oil and gas company with operations in western Canada. Company has a market cap of $30 million and approximately 109 million shares outstanding.
Enerplus Corporation (ERF:TSX) announced on April 20th that a cash dividend in the amount of CDN$0.05 per share will be payable on May 15, 2015 to all shareholders of record at the close of business on April 30, 2015. The ex-dividend date for this payment is April 28, 2015. Dividends paid by Enerplus are considered an "eligible dividend" for Canadian tax purposes.
Enerplus Corporation is a Calgary based oil and gas company with operations throughout North America. Company has a market cap of $3.3 billion and approximately 206 million shares outstanding.
Pacific Rubiales Energy Corp. (PRE:TSX) announced on April 20th that a 213 meter (699 foot) gross oil column has been confirmed in the Echidna-1 exploration well from wireline pressure data measured across the Paleocene and Maastrichtian aged reservoir intervals. Oil samples recovered on wireline measured 39.5° API with a GOR of 750 cf/bbl.
Drilling operations for the Echidna-1 well began on March 31, 2015 and the well reached the planned total depth of 2,379 meters (7,805 feet) on April 12, 2015. The wireline logging program including pressure measurements, reservoir fluids sampling and petrophysical logging has been completed and the well is being prepared for a production testing.
José Francisco Arata, President of the Company, stated, “We are very pleased with the results of the Echidna-1 exploration well in the offshore Santos Basin, Brazil. Wireline pressure data across the Paleocene and Maastrichtian aged reservoir intervals in the well confirms another light oil discovery.”
Pacific Rubiales is a Canadian and Toronto based company and a leading explorer and producer of natural gas and crude oil, with operations focused in Latin America. Company has a market cap of $1.4 billion and approximately 316 million shares outstanding.
Serinus Energy Inc. (SEN:TSX) announced on April 20th an update for its two recently drilled wells in the 765,000 acre Satu Mare Concession in northwest Romania. Serinus has a 60% interest in and operates Satu Mare through its wholly owned subsidiary, Winstar Satu Mare SA.
Based on the reservoir pressure and lack of both depletion and observable boundaries, the Company now estimates that the P50 recoverable resources in this accumulation could be over 17 Bcf of natural gas plus condensates, significantly higher than the a priori estimate of 10.5 Bcf of prospective resources.
Testing is now complete on the Moftinu-1002bis well. The test indicated a tight formation with formation damage, consistent with the lower apparent porosities observed on logs. The estimates and conclusions at this point are more qualitative than quantitative due to poor data quality.
Despite the poor data quality, Moftinu-1002bis does prove the existence of movable hydrocarbons in the four Miocene sands tested. Management will examine various options for stimulating Moftinu-1002bis.
Serinus is a Calgary based international upstream oil and gas exploration and production company that owns and operates projects in Ukraine, Tunisia, and Romania. Company has a market cap of $79 million and approximately 79 million shares outstanding. |
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