North American Energy Partners Reaches Agreement to Sell Piling Business and Announces Fiscal Year 2013 Results
North American Energy Partners Inc. ("NAEP" or "the Company") (NOA.TO)(NOA) today announced it has reached an agreement to sell its Piling businesses and announced its financial results for the year and three months ended March 31, 2013.
The Company has prepared its consolidated financial statements in accordance with accounting principles generally accepted in the United States (US GAAP). Except where otherwise specifically indicated, all dollar amounts are expressed in Canadian dollars.
Petromanas updates Albanian exploration activities
Petromanas Energy Inc. ("Petromanas", or the "Company") (TSXV:PMI.V ) today provided an update on current and planned exploration initiatives onshore Albania.
Albania Blocks 2-3
The Shpirag-2 well continues to drill ahead in the target carbonate reservoir at a depth of approximately 5,500 metres. Petromanas intends to drill the well to a target depth of approximately 5,800 metres.
The Company today also announced it has received notification that the Albanian government has approved construction permits for road and lease construction at the Molisht-1 drilling location and two other drilling locations located along the Shpirag structure in Blocks 2-3.
JinkoSolar Announces First Quarter 2013 Results
JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a leading global solar power product manufacturer, today announced its unaudited financial results for the first quarter ended March 31, 2013.
First Quarter 2013 HighlightsTotal solar product shipments were 338.6 megawatts ("MW"), consisting of 282.4 MW of solar modules, 25.4 MW of silicon wafers and 30.8 MW of solar cells. This represents an increase of 12.2% from 301.9 MW in the fourth quarter of 2012 and an increase of 36.0% from 249.0 MW in the first quarter of 2012.
Gastar Exploration Announces Extension of East Texas Property Sale Closing
Gastar Exploration Ltd. (NYSE MKT: GST) ("Gastar") announced today that the closing of the previously announced sale of Gastar's East Texas properties to Cubic Energy has been extended to June 28, 2013 with a termination date of July 12, 2013 in order to allow Cubic Energy additional time to finalize financing for the transaction. As compensation for the extension of the closing date, the parties have agreed to reduce certain identified due diligence negative adjustments to the purchase price by $350,000.
Terra Energy Announces Agreement to Sell Montney Assets for $36 Million
Terra Energy Corp. (TSX:TT) ("Terra" or the "Company") is pleased to announce that Crew Energy Inc. ("Crew") has exercised the option to purchase the balance of Terra's Montney assets in northeast British Columbia for a purchase price of $36 million.
On February 28, 2013, the Company granted Crew an option to acquire the balance of its unconventional Montney assets located in northeast British Columbia for a purchase price of $36 million, subject to typical industry adjustments, by way of a combination of cash or common shares of Crew, with a minimum cash component of $10 million. The option contained restrictions on assignment and had to be exercised by Crew on or before June 3, 2013, with a closing to occur on or before July 9, 2013.
Harvest Natural Resources Announces 2013 First Quarter Results
Harvest Natural Resources, Inc. (HNR) today announced 2013 first quarter earnings and provided an operational update.
Harvest reported first quarter net income of approximately $36.1 million, or $0.91 per diluted share, compared to a net loss of $1.0 million, or $0.03 per diluted share, for the same period last year. The first quarter results included exploration charges of $1.9 million, or $0.05 per diluted share and unrealized gain on warrant derivative of $3.8 million, or $.10 per diluted share.
Petrodelta reported earnings during the first quarter of $187.7 million, $60.1 million net to Harvest's 32 percent interest, under International Financial Reporting Standards (IFRS).
Ballard Signs Non-Binding MOU With Azure Hydrogen For Fuel Cell Bus Development
Ballard Power Systems (NASDAQ:BLDP )(TSX:BLD) has announced the signing of a non-binding Memorandum of Understanding (MOU) with its partner Azure Hydrogen Corporation of Beijing, China (Azure), extending the scope of their collaboration to include fuel cell buses.
The MOU with Azure envisions Ballard providing a manufacturing license agreement, engineering services, fuel cell stacks and components. As the MOU is non-binding, it is not a certainty that a definitive contract will be completed, however, the parties will move into the contract phase in the next several months. In the interim, under terms of the MOU, Azure has made a committed $1 million up-front payment to Ballard.
Gran Tierra Energy Tests 3,095 Barrels of Oil per Day with Peru Horizontal Well
Initiating Engineering Study to Implement Long Term Test and Bring New Oil to Market
Gran Tierra Energy Inc. ("Gran Tierra Energy") (NYSE MKT: GTE, TSX: GTE), a company focused on oil exploration and production in South America, today provided updates for its exploration drilling in Peru.
"Gran Tierra Energy has successfully completed testing of the sidetrack on the Bretaña Norte 95-2-1XD exploration well in Peru, with results supporting the significant potential production additions expected from the Bretaña field," said Dana Coffield, President and Chief Executive Officer of Gran Tierra Energy.
Royale Signs Definitive Agreement to Fund Commencement of Work in Alaska
Finalizes Joint Venture With Rampart Energy Ltd of Australia
Royale Energy, Inc. (Nasdaq:ROYL) today announced that it has completed an agreement with Rampart Energy Ltd of Australia (ASX:RTD) for the development of a portion of Royale's Alaska North Slope property. Under the terms of this agreement Rampart may earn up to 75% Working Interest in Royale's Western and Central acreage position, upon completion of a work program that includes seismic and drilling commitments.
FX Energy Reports Successful Production Test at Tuchola-3K Well
FX Energy, Inc. (FXEN) reported that the Tuchola-3K well flowed gas at rates ranging from 3.8 to 5.5 million cubic feet of gas per day with no water during a production test. The Company plans to collect the final data from the downhole pressure gauges and finish completing the well for production.
"The Tuchola-3K test raises the real possibility of opening a significant new exploration play for us in Poland," said David Pierce, President and CEO of FX Energy. "We intend to follow up the successful test with 3-D seismic acquisition covering approximately 100 square kilometers and drill one or two more wells this year in the Edge concession area in north-central Poland where the Tuchola-3K is located. The additional seismic and drilling will help us to determine the potential of this area and specifically the reserves in the structure where the Tuchola-3K well is being completed for production."
SolarCity and Goldman Sachs Create Largest U.S. Rooftop Solar Lease Financing Platform
Collaboration Expected to Fund more than $500 Million in Solar Projects, 110 Megawatts of Solar Capacity
SolarCity (SCTY), a leading provider of clean energy, today announced a lease financing agreement with Goldman Sachs (GS) to fund more than $500 million in solar power projects; an estimated 110 megawatts in generation capacity for homeowners and businesses.
The financing makes it possible for homeowners, businesses, government and other non-profit organizations to install solar panels with no upfront cost and pay less for clean, solar electricity than they currently pay for utility bills. The agreement was initiated in 2012 and expanded per its initial terms at the end of April.
Africa Oil Announces Etuko-1 Well Spuds in Kenya
Africa Oil Corp. (TSX VENTURE:AOI)(NASDAQ OMX:AOI) ("Africa Oil" or the "Company") is pleased to announce that Tullow Oil Plc, the operator of Block 10BB in Kenya, has commenced drilling at the Etuko (formerly Kamba) prospect. This well will target a new play area in the Lockichar Basin where a working petroleum system has been confirmed by recent discoveries at Ngamia and Twiga. The well will focus on the 'eastern flank play' where oil was discovered in 1992 by Shell at the Loperot-1 well. The primary objectives will be the Lower Lokhone and Auwerwer sands, both of which have been shown to be high quality reservoirs containing oil in existing wells. The gross best estimate of prospective resources for the prospect are 231 million barrels of oil based on a third-party Competent Person's Report*. The well is expected to take approximately 60 days to drill and evaluate.
GASFRAC Announces First Quarter 2013 Results
MANAGEMENT'S DISCUSSION AND ANALYSIS
MARCH 31, 2013
Management's discussion and analysis ("MD&A") of the financial condition and the results of operations should be read in conjunction with the unaudited interim condensed consolidated financial statements for the three months ended March 31, 2013 and the consolidated financial statements for the year ended December 31, 2012 of GASFRAC Energy Services Inc. ("GASFRAC" or the "Company") (GFS.TO), together with the accompanying notes. The interim condensed consolidated financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") including International Accounting Standard ("IAS") 34, "Interim Financial Reporting" as issued by the International Accounting Standards Board ("IASB").
Bankers Petroleum Announces 2013 First Quarter Financial and Operational Results
Realised Free Cash Flow and Record Production; Current Production 17,500 bopd
Bankers Petroleum Ltd. ("Bankers" or the "Company") (TSX: BNK, AIM: BNK) is pleased to provide its 2013 first quarter financial and operational results. During the quarter, Bankers achieved several key milestones, including its first quarter of free cash flow and record production levels.
Insignia Energy Ltd. Announces Receipt of Proposal for Going Private Transaction
Insignia Energy Ltd. ("Insignia" or the "Company") (ISN.TO) today announced that the independent members of the board of directors of the Company have received a proposal (the "Proposal") from Brookfield Capital Partners Ltd. ("Brookfield") to privatize Insignia. Under the Proposal, all shareholders of Insignia, other than those participating in the Proposal, would receive $1.35 cash for each of their common shares of Insignia ("Common Shares"). The proposed offer price translates into a premium of 95% based on the weighted average trading price of the Common Shares on the Toronto Stock Exchange ("TSX") for the previous twenty (20) trading dates ended May 3, 2013.
Gran Tierra Energy Inc. Announces Record First Quarter 2013 Results
Major Oil Discovery in Peru; Production, Revenue, Net Income and Funds Flow from Operations Reach New Highs
Gran Tierra Energy Inc. ("Gran Tierra Energy") (NYSE MKT: GTE, TSX: GTE), a company focused on oil and gas exploration and production in South America, today announced its financial and operating results for the quarter ended March 31, 2013. All dollar amounts are in United States ("U.S.") dollars unless otherwise indicated.
Renewable Energy Group Reports First Quarter 2013 Financial Results
Q1 2013 Key Achievements 39 million gallons sold, up 14% compared to Q1 2012 40 million gallons produced, up 4% compared to Q1 2012 Adjusted EBITDA of $22 million Net income of $46 million up from $14 million in Q1 2012 Demand driven by reinstated blenders tax credit, increased RVO for 2013, biodiesel RINs and new counter-seasonal demand
Renewable Energy Group, Inc. (REGI) today announced its financial results for the quarter ended March 31, 2013.
Greenbriar Capital and Alterra Power Announce Solar Partnership
Greenbriar Capital Corp. (TSXV:GRB.V) and Alterra Power Corp. (TSX:AXY.TO) are pleased to announce they have entered into a partnership, AG Solar One, which intends to develop 100 MW of solar generation capacity in Puerto Rico under a Master Renewable Power Purchase and Operating Agreement with the Puerto Rico Electric Power Authority. The partnership, which will be owned 50/50 by Greenbriar and Alterra, acquired rights to the master agreement last week.
Perpetual Energy Inc. announces exercise of option for Warwick Gas Storage, approval of IETP funding for Panny Bitumen Project and credit facility renewal
Perpetual Energy Inc. ("Perpetual" or the "Company") is pleased to announce:
1) The exercise of its option to purchase an additional 20 percent interest in Warwick Gas Storage ("WGS LP"); 2) Confirmation of funding for the Panny Bitumen Project through the Government of Alberta's Innovative Energy Technologies Program ("IETP"); and 3) Renewal of Perpetual's credit facility with a revised borrowing base of $125 million.
Warwick Gas Storage
Winstar Resources Ltd reaches an agreement for sale of the company to Kulczyk Oil Ventures Inc
Winstar Resources Ltd ("Winstar" or the "Company") (TSX:WIX.TO ) announces today that it has entered into an Arrangement Agreement (the "Agreement") whereby Kulczyk Oil Ventures Inc. ("KOV" or the "Purchaser") will acquire all of the issued and outstanding common shares of Winstar (the "Transaction").
Under the terms of the Agreement, each Winstar shareholder will receive, for each Winstar share, at the shareholder's election: i) C$2.50 in cash (the "Cash Consideration"); or ii) 7.555 KOV ordinary shares (the "Share Consideration"), subject to a maximum of C$35 million in cash being paid to Winstar shareholders in aggregate.
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