The firm said it appointed industry-professional Simon Raven as chairman, president, and CEO of DXI and all of its subsidiaries
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The efforts remove the cost of maintaining a listing in Canada and potentially makes it easier for certain investors to buy its shares.
"This placing will help ensure the company is able to realise the significant potential with OPL 226,” said Arthur Millholland, COPL chief executive
“This placing will see the company being adequately funded through the next c.US$100mln of capital expenditure on the Beetaloo project," said Phillip O’Quigley.
At Peace river, the firm has extensive acreage, containing large resource in place, within the heart of the oilsands region in Alberta
Group production and financials looked positive year-on-year though the performance of the NW Gemsa field was a drag on the results
The explorer wants to drill up to four wells at OPL 226.
It showed a better performance than the same quarter a year ago, though tax changes impacted profitability.
The firm aims to raise up to C$1.5 million with funds to be used for restarting waterfloods and bringing additional shut-in wells on stream
The company described it as an exciting development.
CEO Randy MacEwen says the deal supports the company’s order book and growth aspirations in 2019 and into 2020
The Alberta-focused group reported net income for the year to December 31 of $46,172
As it prepares for drilling, Falcon confirmed it ended 2018 with US$6.9mln of cash
Shares of Cenovus fell around 2% on the Toronto Stock Exchange in morning trading on Wednesday even as the company posted higher quarterly profits
Falcon will be able to make a decision over the royalty acquisition after the next phase of work, due to start in June
Permex is a junior oil and gas company with assets and operations across in west Texas and New Mexico
It expects to the singular listing on London's AIM market will benefit all shareholders.
Tag Oil has assets in New Zealand and Australia and issued a corporate update
The company said it is closing the third tranche of its non-brokered private placement for up to 10,000,000 units, priced at C$0.15 per unit
“The company expects the performance bond to be in place to the satisfaction of the regulatory authorities in the coming weeks, at which point activities on OPL 226 can be commenced in earnest”
The Vancouver-based company said funds raised will also be used for working capital
The group also reduced G&A (general and administrative) expenses in the year by 35%
“Our focus remains on realizing value for shareholders through low-cost, high-margin production across our current portfolio"
DXI has now run production casing at the well, mainly to allow for future production of the gas when prices improve
“The team continues to optimise the wells drilled in the 2018 program which has resulted in significant changes to our stabilized base production rates,” said Paul Baay