Pace Oil & Gas, AvenEx Energy and Charger Energy to Combine and Form Intermediate Dividend Paying Corporation
Conversion of natural gas volumes to barrels of oil equivalent (boe) are at 6:1.
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Pace Oil & Gas Ltd. ("Pace") (TSX:PCE), AvenEx Energy Corp. ("AvenEx") (TSX:AVF) and Charger Energy Corp. ("Charger") (TSX VENTURE:CHX) announce that they have entered into an agreement (the "Arrangement Agreement") providing for the combination of Pace, AvenEx and Charger to form a dividend paying corporation to be named "Spyglass Resources Corp." ("Spyglass"). Spyglass will have a balanced commodity profile and sustainable business model underpinned by 18,000 boe/d of stable, low decline oil and gas production and will be led by an experienced management team.
Epsilon Energy Ltd. Announces Doubling of Estimated Proved Reserves
Epsilon Energy Ltd. ("Epsilon") (EPS.TO) announced today that proved reserves as of October 31, 2012 increased to 150 Bcfe, more than double the proved reserve estimate of 72 Bcfe as of December 31, 2011. The 107% increase in proved reserves is based upon an evaluation performed by Epsilon''s independent reserve engineering firm, Miller and Lents, Ltd. ("MLL").
The increase in reserves is driven by successful drilling results, favorable production rates and better than anticipated decline rates in the Marcellus. Based upon production results in 2012, EUR''s for Marcellus proved producing wells increased up to 7.5 Bcfe per gross well, from an average of 4.9 Bcfe per well.
Madalena International Operations Update: Cases CAN-8 for Completion / Testing and Moving Rig to CAS X-5 Location to Drill Ahead Madalena Ventures Inc. and its wholly owned subsidiary Madalena Austral SA ("Madalena" or the "Company"), is pleased to provide an update on its drilling operations in the Neuquén basin, Argentina.
On the Coiron Amargo Block (35% working interest), the CAN-8 development well located 800 meters south east of the existing CAN 7 oil producer on the northern portion of the block (i.e. Coiron Amargo Norte), has been cased to a total depth ("TD") of 10,433 feet. Following the successful drilling of the CAN-8 location and a review of the well data gathered (including electric logs), oil and gas has been encountered in both the unconventional Vaca Muerta shale and the conventional Sierras Blancas zones of interest.
SolarCity Announces Pricing of Its Initial Public Offering
SolarCity Corporation, a provider of clean distributed energy, announced today the pricing of its initial public offering of 11,500,000 shares of common stock at a price of $8.00 per share. The common stock is expected to begin trading on The NASDAQ Global Market on December 13, 2012 under the ticker symbol “SCTY.”
A total of 11,434,988 shares are being offered by SolarCity and 65,012 shares are being offered by selling stockholders. In addition, SolarCity has granted the underwriters a 30-day option to purchase up to 1,725,000 additional shares of common stock from SolarCity to cover over-allotments, if any.
DayStar Technologies (DSTI) Announces That Former United States Secretary of Energy and Ambassador to the United Nations Under President Clinton's Administration and the Former Governor of New Mexico, William (Bill) Richardson, Joins Its Board of Directors
DayStar Technologies, Inc. ( NASDAQ : DSTI ) announces a new member to their Board of Directors. Former United States Secretary of Energy, former Governor of New Mexico and Nobel Prize nominee, Bill Richardson, has joined the Board of Directors of DayStar Technologies.
Lorne (Mark) Roseborough, President of DayStar, stated, "Bill Richardson made New Mexico the 'Clean Energy State' by requiring utilities to meet 20% of New Mexico's electrical demand from renewable sources, and established the Renewable Energy Transmission Authority to deliver New Mexico's world-class renewable resources to market.
Heritage Oil Announces Acquisition of Common Shares of PetroFrontier Corp.
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Heritage Oil Plc (HOC.TO)(HOIL.L), an independent upstream exploration and production company, today announces that the Company acquired 1,800,000 common shares ("Shares") of PetroFrontier Corp. ("PetroFrontier") representing 2.27% of the outstanding Shares. Together with Shares already held by Heritage, the Company now holds 13,960,467 Shares, representing approximately 17.58% of the outstanding Shares of PetroFrontier. Heritage also holds 2,311,767 warrants of PetroFrontier ("Warrants") which are convertible into 2,311,767 Shares upon due exercise thereof. If these Warrants were duly exercised, Heritage would hold approximately 19.91% of the outstanding Shares of PetroFrontier.
Metabolix Secures UCLA Engineering ARPA-E Grant for Improving the Productivity of Making Biofuels in Plants
Third Grant in 2012 Focusing on Company’s Leading-Edge Crop Research
Metabolix, Inc. (MBLX), an innovation-driven bioscience company focused on delivering sustainable solutions for plastics, chemicals and energy, today announced that it has received a subaward under the Advanced Research Projects Agency – Energy (ARPA-E) to work with the UCLA Henry Samueli School of Engineering and Applied Science to redesign carbon fixation pathways to increase the efficiency of capturing energy from sunlight. This is the third grant awarded to Metabolix in 2012 for leading-edge crop research targeting multi-gene expression and transformation of plants, and builds upon its years of experience in transforming plants for bio-product production. Funding from these three grants will total nearly $1 million and will run through 2014.
Border Announces Drilling of First Long-Leg Horizontal Well at Red Earth and Filing of Quarterly Financials
Border Petroleum Corp. (TSX VENTURE:BOR) ("Border" or the "Corporation") is pleased to announce the successful drilling of its first long-leg Slave Point horizontal well located at 10-15-85-10W5M (the "10-15 Well") on the Loon River Cree Nation under federal permit (the "Loon Block") in the Red Earth area of northern Alberta and the commencement of completion operations.
The 10-15 Well was drilled to a total depth of 3,250 meters, including a 1,630 meter horizontal leg. The logs indicate 952 meters of horizontal wellbore with 3%-9% porosity and 454 meters with over 9% porosity including 256 meters that exhibited significant dolomitization with 20-33% porosity.
Africa Oil Announces $193.75 Million Private Placement
THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or the "Company") reports that it will sell, on a non-brokered, private placement basis, an aggregate of up to 25 million common shares at a price of Cdn $7.75 per share for gross proceeds of up to Cdn $193.75 million. A 4% finder's fee may be payable on all or a portion of the private placement. Net proceeds of the private placement will be used towards the Company's ongoing work program in East Africa as well as for general working capital purposes.
Sprott Power Corp. Completes Acquisition of Shear Wind and Enters into Agreements with New Partner
Sprott Power Corp. (TSX: SPZ) ("Sprott Power") and Shear Wind Inc. (TSXV: SWX) ("Shear Wind") are pleased to announce the closing of their plan of arrangement (the "Arrangement") and the establishment of agreements between Sprott Power and its new partner, Genera Avante Holdings Canada Inc. (together with certain of its affiliates,"GAHC"), for the operation and development of the Shear Wind assets.
The acquisition adds the Glen Dhu Wind Farm, the largest wind farm in Nova Scotia, to Sprott Power's portfolio of assets, increasing its operating assets under management by approximately 80% from 80 MW to 143 MW.
Antrim Announces Commencement of Drilling Operations for the Cyclone Prospect in UK Central North Sea
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Antrim Energy Inc. (TSX:AEN) (AIM:AEY) ("Antrim" or the "Company")
Antrim today announced that it has been informed by operator Premier Oil UK Limited ("Premier") that drilling operations have commenced for the Cyclone prospect in UK Central North Sea Licence P1784 Block 21/7b (Antrim working interest 30%).
Pinecrest Energy Inc. to Combine with Spartan Oil Corp. to create a Sustainable Light Oil Dividend and Growth Company
Pinecrest Energy Inc. (TSX-V: PRY) ("Pinecrest") and Spartan Oil Corp. ("Spartan") (TSX: STO) are pleased to announce that they have entered into an arrangement agreement (the "Arrangement Agreement") providing for the combination of Pinecrest and Spartan (collectively, the "Combined Company") to form a premier light oil weighted entity that will provide shareholders with a sustainable model of income and production growth. The Combined Company will have an enterprise value approaching $1 billion and an attractive suite of high netback light oil projects.
Bengal Energy Confirms Caracal-1 as a New Oil Discovery on the Tookoonooka Block, Cooper Basin, Australia
Bengal Energy (TSX: BNG) ("Bengal", or "the Company") reports that the first exploration well in the Tookoonooka drilling campaign, Caracal-1, is a new oil discovery. This new discovery has established light oil on a new and unexplored trend with the Caracal-1 well being the first well to be drilled on the very large 654,335 acre Authority to Prospect ("ATP") 732 (the "Tookoonooka Block") in the last 15 years. Seismic mapping defines a large structure, with the Caracal-1 closure alone estimated to cover an area of 5.5 square miles (approximately 3,500 acres).
Torquay Oil Corp. Enters Into Arrangement Agreement for Sale of the Company for Cash Consideration of $21 Million
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TORQUAY OIL CORP. (TSX VENTURE:TOC.A)(TSX VENTURE:TOC.B) ("Torquay" or the "Company") is pleased to announce that it has entered into an arrangement agreement (the "Arrangement Agreement") with a private oil and gas company ("the Purchaser"). Under the terms of the Arrangement Agreement, the Purchaser will acquire all of the issued and outstanding Class A Shares and Class B Shares of Torquay for cash consideration of $0.16 per Class A Share and $1.60 per Class B Share, respectively, pursuant to a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement").
Pacific Rubiales Agrees to Acquire C&C Energia and Create a New Exploration Company
Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC; BOVESPA: PREB) is pleased to announce it has entered into an arrangement agreement with C&C Energia Ltd. (TSX:CZE.TO - News) whereby Pacific Rubiales will acquire all of the common shares of C&C Energia (the "Arrangement Agreement").
Pursuant to the Arrangement Agreement, on closing of the acquisition each common share of C&C Energia will be exchanged for 0.3528 common shares of Pacific Rubiales and one common share of a new exploration company ("Newco"). The offer values C&C Energia at approximately Cdn.$7.81 per share, representing a premium of approximately 21% to the 20-day volume-weighted price on the Toronto Stock Exchange of C&C Energia as at November 16, 2012.
Finavera Wind Energy Receives Initial Offers
Finavera Wind Energy Inc. ('Finavera Wind Energy', 'Finavera' or the 'Company') (TSX-V:FVR.V ) is pleased to provide an update on an intended corporate transaction which is currently the subject of advanced negotiations with four prospective companies. Finavera anticipates the selection of a lead offer and the subsequent announcement of a binding deal in short order.
Finavera Wind Energy has received initial offers from four companies in relation to a corporate transaction ranging from a complete offer for the outstanding share capital of the Company to a corporate partnership that allows the Company to advance its projects to construction and operation. The offers are the subject of ongoing negotiations.
Long Run Exploration Ltd. Announces Sale of Non-Core Assets and Provides Capital Guidance for 2013
Long Run Exploration Ltd. ("Long Run" or the "Company") (LRE.TO) is pleased to announce that it has signed a definitive purchase and sale agreement (the "Agreement") to sell certain non-core assets for total cash proceeds of approximately $180 million, before any closing adjustments.
The non-core assets include the Company''s Viking interests located in the Plato / Dodsland / Lucky Hills areas of Saskatchewan. These assets are currently producing approximately 1,900 boe per day (1,800 barrels per day of crude oil and 600 mcf per day of natural gas, based on field estimates).
Birchcliff Energy Ltd. Announces Record Current Production Levels, Increased 4th Quarter Average Production Target and Strong Third Quarter Results
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Birchcliff Energy Ltd. ("Birchcliff") (BIR.TO) is pleased to announce its financial and operating results for the third quarter of 2012. The full text of Birchcliff's Third Quarter Report containing the unaudited interim Condensed Financial Statements for the three and nine month periods ended September 30, 2012 and the related Management's Discussion and Analysis is available on Birchcliff's website at www.birchcliffenergy.com and will be available on SEDAR at www.sedar.com.
Exall Energy Corporation announces results for the three and nine months ended September 30, 2012
Exall Energy Corporation ("Exall " or the "Company") (TSX:EE EE.DB) is pleased to announce its International Financial Reporting Standards ("IFRS") compliant financial and operating results for the three and nine months ended September 30, 2012. Exall's public filings can all be found at www.exall.com or www.sedar.com.
Highlights:Current production estimate is 1,050 boepd, The second well of the Summer-Fall program was placed on production at a stable rate of 175 bopd (128 bopd net) through the Exall gathering and treating facilities,
Spartan Oil Corp. Announces Current Production in Excess of 4,000 boepd and Record Third Quarter Cash Flow of $12.9 Million CALGARY, ALBERTA--(Marketwire - Nov. 14, 2012) - Spartan Oil Corp. ("Spartan" or the "Company") (TSX:STO), is pleased to report its financial and operating results for the three and nine months ended September 30, 2012 along with this operational update. Selected financial and operational information is outlined below and should be read in conjunction with Spartan's interim financial statements and the related management discussion and analysis which are available for review at www.sedar.com or on the Company's website at www.spartanoil.ca.
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