Passport Energy Ltd. Announces Additional Land Acquisition Details
Passport Energy Ltd. (PPO - TSX Venture, PPOZF - OTC),("Passport") provides, further to its news release dated November 27, 2013, the following additional details of the previously announced land acquisition.
Passport has entered into an agreement with a private oil and gas company to acquire 22 1/4 contiguous sections (5,760 acres) of 100% owned land in the Hardy area of SE Saskatchewan for $600,000 cash. The acquisition will be subject to certain conditions including Passport completing due diligence on the properties, obtaining a satisfactory title opinion on the properties, completing a financing, and completing the formal agreement between Passport and the vendor.
Passport Energy Ltd. Announces Land Acquisition
Passport Energy Ltd. (PPO - TSX Venture), ("Passport") advises that it has entered into an agreement with a private oil and gas company to acquire 22 1/4 contiguous sections (5,760 acres) of 100% owned land in the Hardy area of SE Saskatchewan. The acquisition price will, subject to certain conditions being met, be paid by Passport in cash. Passport believes the acreage is located in a more prospective area of the new light oil Bakken play trend that it has been exploring for the past 2 years.
Passport Energy Ltd. Announces 51-101 Reserve Report and Production Update
Passport Energy Ltd. (PPO - TSX Venture), ("Passport" or the "Company") is pleased to announce that it has filed its 51-101 reserve report on its reserves in the Hardy area of SE Saskatchewan.
Corporate Reserve Update
GLJ has assigned Passport, total proved company interest reserves of 49,000 bbls (166,000 gross bbls), representing an 81% increase in the company's total proved reserves when compared to last year's evaluation.
Mart Resources, Inc.: UMU-11 Well Update- Initial Flow Test Results
- 3,650 barrels of oil per day ("bopd") stabilized flow rate achieved during cleanup from the XIIb sand. - 1,520 bopd stabilized flow rate achieved during cleanup operations from the XIIIb sand. - One more test remains to be done on the IX sand that has been perforated and completed in the UMU-11 well.
Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Company") and its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and SunTrust Oil Company Limited are pleased to announce initial flow rate test results for the UMU-11 well.
CEPSA to Acquire Coastal Energy Company for C$19.00 Per Share
Delivers Significant and Immediate Value to Coastal Energy Shareholders
Coastal Energy Company ("Coastal" or the "Company") (CEN.TO) (CEO.L) announced today that it has entered into a definitive merger agreement providing for the acquisition by Companyia Espanyola de Petroleos, S.A.U. ("CEPSA") of all of the issued and outstanding shares of Coastal at a price of C$19.00 per common share in cash. The purchase price represents a premium of 28% to the closing price of the Company's common shares on the TSX on November 18, 2013. The purchaser is a newly-incorporated CEPSA controlled entity in which Strategic Resources (Global) Limited ("SRG") is an investor. The proposed transaction has an aggregate value of approximately C$2.3 billion including the assumption of C$51 million of net debt. The transaction, which will be completed by way of statutory merger, is expected to close in the first quarter of 2014.
Discovery of a Conventional Natural Gas Reservoir in the Lower St. Lawrence Area
Petrolympic Ltd. ("Petrolympic" or the "Company") (TSX VENTURE:PCQ) is pleased to announce the discovery of a conventional reservoir of natural gas on its joint venture property in the Lower St. Lawrence area (the "Property") located in the Appalachian Basin of Quebec, which was announced by the Operator, Ressources & Energie Squatex Inc., ("Squatex") in its press release dated November 15, 2013 (see www.sedar.com). The Company holds an interest in 217,370 hectares (536,941 acres) of the Property through a joint venture with Squatex.
Canadian Solar Reports Third Quarter 2013 Results
Canadian Solar Inc. ("Canadian Solar" or the "Company") (CSIQ), one of the world's largest solar power companies, today announced its financial results for the third quarter ended September 30, 2013.
Third Quarter 2013 HighlightsSolar module shipments were 478 MW, compared to 455 MW in the second quarter of 2013. Net revenue was $490.9 million, compared to $380.4 million in the second quarter of 2013. Net revenue from the total solutions business was 41.1% of total net revenue, compared to 25.7% in the second quarter of 2013.
Petroforte to Complete Private Placement for Up to $15 Million
(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)
Petroforte International Ltd. ("Petroforte" or the "Corporation") (TSX VENTURE:PFI) reports that it has agreed to terms for a non-brokered private placement ("the Offering") of up to 75,000,000 common shares at $0.20 per share for gross proceeds of up to $15,000,000. The Corporation has engaged certain financial institutions as financial advisors ("the Advisory Group") in connection with the Offering. The Corporation has agreed to pay the Advisory Group cash fees of 7% of the gross proceeds of the Offering in accordance with the policies of the TSX Venture Exchange.
Talisman Energy Announces $1.5 Billion All Cash Sale for Portion of Montney Position
Talisman Energy Inc. (Talisman) (TLM.TO)(TLM) announced that it has reached an agreement to sell part of its Montney acreage in northeast British Columbia to Progress Energy Canada Ltd. for a total cash consideration of CDN$1.5 billion.75% (~127,000 net acres) of Talisman's Montney position in the Farrell Creek and Cypress areas of British Columbia. 65 mmcfe/d of Farrell Creek production as of Oct 1, 2013, which is expected to increase in the fourth quarter as we conclude the 2013 completion program, and associated facilities. CDN$800 million of remaining third party capital carry estimated at 2013 year end (~CDN$870 million at effective date October 1, 2013).
ARC Resources Ltd. announces a $915 million capital program targeting 17 per cent growth in production in 2014
ARC Resources Ltd. ("ARC") announced today that its Board of Directors has approved a $915 million capital program for 2014 directed at high value oil and liquids-rich gas plays and investment in its low cost Montney gas assets. ARC expects annual average production growth of approximately 17 per cent in 2014.
Myron Stadnyk, ARC's President and Chief Executive Officer, said, "With a clear line of sight toward future value creation, we are building a long-term sustainable business on the back of our world class assets while continuing to pay a meaningful dividend to our shareholders.
Pacific Rubiales receives environmental licences for the CPE-6 and Guama E&P blocks, allowing for the advancement of exploration and development activities
Pacific Rubiales Energy Corp. (TSX: PRE) (BVC:PREC) (BOVESPA:PREB) is pleased to announce that it has received the environmental licences from the Colombian environmental authority, Autoridad Nacional de Licencias Ambientales ("ANLA"), required to advance its planned exploration and development activities in both the CPE-6 and Guama E&P blocks, located in Colombia.
The CPE-6 E&P block covers an area of approximately 593 thousand acres in the southern Llanos Basin and lies along the heavy oil trend approximately 70 kilometers southwest of the Company's operated Rubiales/Quifa SW giant oil field complex. Pacific Rubiales has a 50% working interest and is operator of the block. Talisman (Colombia) Oil and Gas Ltd., a wholly owned subsidiary of Talisman Energy Inc. (TSX:TLM.TO ) holds the remaining 50% working interest.
Canadian Solar Announces Selective Preliminary Results for the Third Quarter 2013, Schedules Earnings Release and Conference Call for November 13
Canadian Solar Inc. (the "Company", or "Canadian Solar") (CSIQ), one of the world's largest solar power companies, today announced selective preliminary results for the third quarter ended on September 30, 2013. Canadian Solar plans to issue its earnings release and host a conference call to discuss its third quarter 2013 results on Wednesday, November 13, 2013.
For the third quarter of 2013, Canadian Solar now expects solar module shipments to be in the range of approximately 460 MW to 480 MW, which exceeds the Company's original guidance of 410 MW to 430 MW provided on August 8, 2013. The Company expects its revenue for the third quarter of 2013 to be in the range of $470 million to $495 million.
Ocean Power Technologies Awarded $2.6 Million Contract by Mitsui Engineering & Shipbuilding for Development and Supply of Japan Utility PowerBuoy(R) System
Ocean Power Technologies, Inc. (OPTT) ("OPT" or "the Company") today announced that the Company has received a $2.6 million contract from Mitsui Engineering & Shipbuilding Co., Ltd. ("MES") to provide the final design and supply of key components of a PowerBuoy system intended for deployment off the coast of Japan to demonstrate its utility application in local sea conditions.
This follows work performed under a previously-announced contract for preliminary development and design work completed earlier this year. In addition, the new contract is provided under the agreement which OPT and MES announced earlier this month for their cooperation on PowerBuoy development and commercialization in Japan and six other international markets.
Ocean Power Technologies and Mitsui Engineering & Shipbuilding Announce Agreement to Commercialize PowerBuoys(R)
Ocean Power Technologies, Inc. (OPTT) ("OPT" or the "Company") and Mitsui Engineering & Shipbuilding Co., Ltd. ("MES") today announced that they have signed a new agreement to cooperate in the development and commercialization of OPT's PowerBuoy(R) technology.
Building on the successful work previously done together by the companies, this agreement sets forth the terms of technology licensing and other financial arrangements between MES and OPT regarding OPT's PowerBuoy systems.
Horizon Pharma Announces Clinical Data on RAYOS(R) (Prednisone) Delayed-Release Tablets to Be Presented at the American College of Rheumatology Annual Meeting
Horizon Pharma, Inc (NASDAQ: HZNP) today announced that two published abstracts of its approved treatment RAYOS® (prednisone) delayed-release tablets will be presented during the American College of Rheumatology (ACR)/Association of Rheumatology Health Professionals (ARHP) Annual Scientific Meeting, October 25-30, 2013 in San Diego, CA.
Devon Energy and Crosstex Energy to Create New Midstream Business
Devon Energy Corporation (DVN) (“Devon”), Crosstex Energy, Inc. (XTXI) and Crosstex Energy, L.P. (XTEX) (collectively “Crosstex”) today announced the signing of definitive agreements to combine substantially all of Devon’s U.S. midstream assets with Crosstex’s assets to form a new midstream business. The new business will consist of two publicly traded entities: the Master Limited Partnership and a General Partner entity (the “Master Limited Partnership” and the “General Partner”, collectively “the New Company”). The New Company is expected to have adjusted EBITDA of approximately $700 million in 2014, before synergies. The transaction is expected to be immediately accretive to both Crosstex and Devon. A name for the New Company will be announced prior to the closing of the transaction.
Rock Energy Inc. Announces Operations Update for Q3 2013
Rock Energy Inc. (RE.TO) ("Rock" or the "Company") is pleased to report its operating results for the three months ended September 30, 2013. Rock is a Calgary-based crude oil exploration, development and production company.
Production and Operations
During Q3 2013 Rock's daily sales averaged approximately 3,850 boepd (92% oil & liquids), and the Company is currently producing over 4,000 boepd (approximately 90% oil & liquids). Production for the quarter has exceeded management's forecast estimate of approximately 3,500 boepd, primarily due to Rock's continuing success in its heavy oil pool at Mantario, which is currently producing over 2,700 bbls/d. During the quarter Rock drilled a total of eleven (11.0 net) oil wells. Seven (7.0 net) vertical wells were drilled in further delineating the pool at Mantario.
Bellatrix Exploration Ltd. announces $576 million strategic acquisition of Angle Energy Inc. creating a dominant growth oriented cardium and Lower Mannville focused oil and gas company
Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) is pleased to announce that it has entered into an agreement (the "Arrangement Agreement") with Angle Energy Inc. ("Angle") (TSX:NGL.TO - News) providing for the acquisition by Bellatrix of all the issued and outstanding Angle common shares (the "Angle Shares") pursuant to a plan of arrangement (the "Transaction") under the Business Corporations Act (Alberta) (the "Arrangement").
Amyris Meets Major Milestone at Its Farnesene Production Facility
Amyris CEO to Speak at Advanced Biofuels Leadership Conference on Strong Performance of Amyris's Renewable Hydrocarbon Production in Brazil
Amyris, Inc. (AMRS), a leading renewable chemicals and fuels company, announced that its farnesene plant in Brazil has achieved the production run rate of 1 million liters over a 45-day period. Amyris's Chief Executive Officer John Melo will speak later today at the Advanced Biofuels Leadership Conference (ABLCNext) today in San Francisco, California.
"Our farnesene plant in Brazil is operating well, meeting our technology, volumetric and cost targets. With all six fermentors running as planned and with our ongoing production rate, we are on track to achieve our year-end cost targets.
SolarCity Announces Key Operating Metrics for Third Quarter 2013 and Provides 2014 Guidance for MW Deployed
Company Exceeds Guidance With 78 Megawatts (MW) Deployed in Q3 2013, Reaffirms FY2013 Guidance of 278 MW Deployed, and Establishes Range for FY2014 Guidance of 475 MW - 525 MW Deployed
SolarCity Corp. (SCTY) , a leading provider of clean, distributed energy, today announced key operating metrics for the third quarter of its fiscal 2013, confirmed guidance for fiscal 2013 and established guidance for 2014 MW deployed.