Articles Tagged "Oil Company News"

Letho Resources Signs LOI with Stream Oil and Gas

Letho Resources Corp. (TSXV:LET) has signed a Letter of Intent with Stream Oil & Gas Ltd. whereby Letho has agreed to loan Stream up to C$5,000,000 which loan will be supported by the issuance of a convertible debenture to Letho. Subject to TSX Venture Exchange approval and entry into a definitive agreement, Letho will advance the loan in two separate tranches, with the first tranche amounting C$2.0 million and the second tranche amounting to C$3.0 million. The dates on which both tranches will be advanced are to be set out in the definitive agreement.

Baytex Energy Updates 2014 Guidance to Incorporate Acquisition of Aurora Oil and Gas

Baytex Energy Corp. (TSX:BTE,NYSE:BTE) provided an updated guidance for the second half of 2014 to account for the acquisition of Aurora Oil & Gas Limited (TSX:AEF) was completed on June 11, 2014. The Aurora acquisition expands Baytex's asset portfolio into the Eagle Ford, which is one of North America's premier oil resource plays.

Boomerang Oil Announces New Oil and Gas Discovery

Boomerang Oil, Inc. (CSE:BOI,FSE:0B9) reported an oil and gas discovery in the Crawar #1 Well at its J.B Tubb Leasehold Estate at Crawar Field, Ward County Texas. Boomerang’s recent NI 51-101 engineering reports and reserve studies have indicated net proved reserves of at least 243,000 barrels of oil equivalent.

Ceiba Energy Services Increases Bought Deal Private Placement from C$12.0 Million to C$16.1 Million

Ceiba Energy Services Inc. (TSXV:CEB) has increased the previously announced bought deal financing with a syndicate of underwriters co-led by Peters & Co. Limited and Clarus Securities Inc. and including Canaccord Genuity Corp., Scotia Capital Inc. and Jennings Capital Inc.. Ceiba Energy will now issue 23,000,000 common shares of the company at a price of C$0.70 per common share for gross proceeds to Ceiba of C$16,100,000.

Russia’s Rosneft Makes Major Oil Deal with BP

The CEO of Rosneft (LSE:ROSN) may be under sanctions, but that hasn't stopped BP (NYSE:BP) from making a major oil supply deal with the Russia based company, Reuters reported today. Rosneft stands to receive about $1.5 billion in pre-payments from the deal, which follows a previous shale exploration deal between the two companies, according to Reuters.