Battered by operational challenges and financial troubles, Niko Resources’ (NKO:TSX) Chairman, CEO and President, Ed Sampson, announced he will resign by year-end and that Jake Brace will take over.  Ed Sampson founded the company 18 years ago and developed its impressive asset base in Bangladesh, Indonesia, and Trinidad and Tobago.  Mr. Brace was hired as an advisor a few… Continue Reading

Charle Gamba’s, Canacol Energy (CNE:TSX), is planning a follow-up program on their VMM2 E&P contract in the Middle Magdalena Valley of Colombia.  In January the Mono Arana 1 well hit 85 feet of net oil pay in the shallow Tertiary Lisama sandstone reservoir and 230 feet of potential net oil pay in the deeper Crataceous… Continue Reading

Compania Espanola de Petroleos SAU (CEPSA) has announced its intent to acquire Coastal Energy (CEN:TSX) for a total consideration of approximately $2.3 billion.  CEPSA will pay $19 per share in cash for CEN which represents a premium of approximately 28%.  CEPSA will assume nearly $51 million in debt from CEN as part of the deal. … Continue Reading

Coming off the recent discovery at the Shpirag-2 well, (25% WI with operatorship; Shell 75% non-operator), where they tested flow rates of 1,500-2,200boe/d and hit an 800m oil column; Petromanas (PMI:TSX) announced today they have added international depth to their board of directors by brining on Gen. Wesley K. Clark, U.S. Army (retired).  Gen. Clark retired a four-star… Continue Reading

In one of the most significant divergences in recent market history, energy stocks have continued to soar along with the Dow and S&P 500 even as crude oil has plunged: Click to enlarge WTI Crude vs. XOM (Exxon Mobil) vs. XLE (Energy SPDR) Since the late-August Syria crisis West-Texas intermediate crude oil is down well… Continue Reading

Parex Resources (PXT:TSX), who recently increased its 2013 exit rate guidance from 15,500bpd to 15,700bpd due to stellar production success from their light oil assets in Colombia’s Llanos Basin have now sets the bar high for 2014.  The company announced their 2014 production guidance and capital budget plans which set Parex up for a profitable… Continue Reading

Yesterday, Lawrence Solomon wrote this article in the Financial Post and in it he provokes some counter-intuitive ideas against renewable energy sources and for fossil fuels.  The basis of his argument is that non-renewable energy, fossil fuels, are sustainable whereas the renewables are not and will not be for many decades to come. He sites the fact that, although, hundreds of… Continue Reading

Parex Resources (PXT:TSX), the 50% operating partner of Petroamerica Oil (PTA:TSXV) in the Los Ocarros Block in Colombia’s Llanos Basin, announced the initial results from the La Guira-1 exploration well, in their third quarter release (and subsequently in a release from PTA).  La Guira-1 was spud on October 9th and targeted the Mirador, Gacheta and Une formations and was drilled to… Continue Reading

With an oversubscribed $150 million senior secured debt package locked-up and the approval for Phase 1 development of the Atrush block by the Kurdistan Regional Government (KRG), ShaMaran Petroleum (SNM:TSX), is set to re-rate given their ability to finance the development of the huge block.  The company released its Q3 2013 financial and operating results last night… Continue Reading

Ray Smith’s Madalena Energy (MVN:TSX) has released results from their unconventional oil wells in the Paddle River area of west-Central Alberta.  Production began in early November and during a nine-date test, the horizontal Ostracod oil well flowed at an average rate of 658bpd and 871Mscfd of natural gas for a total of 803boepd.  After accounting… Continue Reading

According to Strateco Resource’s (RSC:TSX) CEO, Guy Hébert, a group of the company’s US shareholders intend to challenge Quebec’s recent resistance to uranium exploration and mining.  In March, Quebec environment minister, Yves-Francois Blanchet announced a moratorium on all uranium exploration and mining until the government had the opportunity to review and submit an environmental report… Continue Reading

Renegade Petroleum (RPL:TSX), the Saskatchewan-focused light oil producer, has called a special shareholder meeting as part of an ongoing dispute with an activist shareholder, FrontFour Capital Group LLC.  The news release today is in response to a release issued by FrontFour on October 31, 2013 in which the activist outlined their concerns.  The meeting will… Continue Reading

Glenn McNamara’s Petromanas Energy had its heaviest volume day in history Tuesday. Over 59 million PMI shares traded hands, closing at $.13, up 13%, after the company announced positive testing results at their Shpirag-2 well yesterday (Read: Petromanas and Shell strike oil deep in Albania). Petromanas also announced this morning that Heinz J. Scholz and Werner Ladwein have… Continue Reading

On the west coast of British Columbia, onshore LNG terminals and pipelines to feed those terminals have become a media and political hot potato, with environmentalists increasing the instability of these projects which can cost $50-$60 billion.  In Colombia, Pacific Rubiales (PRE:TSX) announced this morning that they have executed a heads of agreement for a… Continue Reading

Seventeen months after the Shpirag-2 well started drilling in Southern Albania, Petromanas Energy (TSXV:PMI) and joint venture partner Royal Dutch Shell have finally released testing results from the $75 million exploration well on Albania’s Blocks 2-3. PMI and Shell announced a discovery at Shpirag-2 today, with flow rates of 1,500 to 2,200 barrels per day… Continue Reading