MERGERS & ACQUISITIONS & DISPOSITIONS - QUARTERLY REPORTS - PRODUCTION UPDATES - CORPORATE ANNOUNCEMENTS - FINANCIAL UPDATES -3RD PARTY REPORTS
Friday May 12 2017
Birchcliff Energy Ltd. Announces Director Election Results from 2017 Annual and Special Meeting of Shareholders and Board ChangesBirchcliff Energy Ltd. ("Birchcliff") (TSX:BIR) is pleased to announce the director election results from its 2017 Annual and Special Meeting of Shareholders held on May 11, 2017 (the "Meeting"). At the Meeting, shareholders elected each of the nominees proposed by management as set forth in the information circular of Birchcliff dated March 24, 2017. Each of the directors elected at the Meeting will hold office until the close of the next annual meeting of shareholders of Birchcliff. The results of the ballot conducted at the Meeting with respect to the election of the directors are as follows:
Dennis A. Dawson
Rebecca J. Morley
Larry A. Shaw
James W. Surbey
A. Jeffery Tonken
Birchcliff welcomes Mr. James W. Surbey as a new member of the board of directors (the "Board"). Mr. Surbey is currently the Vice President, Corporate Development of Birchcliff and will be resigning as an officer effective June 30, 2017. Birchcliff also wishes to extend its sincere thanks to Mr. Ken Cullen who did not stand for re-election at the Meeting and ceased to be a director at the close of the Meeting. Mr. Cullen served as a director of Birchcliff since February 2011.
Birchcliff also announces that following the Meeting, Mr. Larry A. Shaw stepped down as Chairman of the Board and Mr. A. Jeffery Tonken, the President and Chief Executive Officer and a director of Birchcliff, was appointed as Chairman. In connection therewith, Mr. Dennis A. Dawson was appointed as independent lead director.
Jeff Tonken, President and Chief Executive Officer of Birchcliff, stated: "It is with regret that the Board of Directors of Birchcliff has accepted Mr. Larry Shaw's resignation as Chairman. Mr. Shaw has advised the Board that he will continue to serve as a director of Birchcliff until the next Annual General Meeting. Larry Shaw has been a significant shareholder of Birchcliff since its inception. As Chairman of our Board, he has been a patient mentor and a strong leader. Over the course of more than 30 years, he has served as Chairman of the Board of Stampeder Exploration, Big Bear, Case Resources and Birchcliff. His business acumen, leadership, diligence, patience and vision have provided the directors and management of all of these businesses with the confidence and support needed to execute their business plans. I look forward to Mr. Shaw's continued support to myself, the Board of Directors of Birchcliff and our Management Team in the future."
Birchcliff is a Calgary, Alberta based intermediate oil and gas company with operations concentrated within its one core area, the Peace River Arch of Alberta. Birchcliff's common shares and cumulative redeemable preferred shares, Series A and Series C, are listed for trading on the Toronto Stock Exchange under the symbols "BIR", "BIR.PR.A" and "BIR.PR.C", respectively.
SOURCE Birchcliff Energy Ltd.
Cardinal Energy Ltd. Report on Voting From the 2017 Shareholders Meeting
Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) announces that all matters presented for approval at the annual and special meeting of the shareholders of Cardinal have been fully authorized and approved.
By ordinary resolution passed via ballot, all of the nominees proposed as directors were duly elected as directors of Cardinal to serve until the next annual meeting or until their successors are duly appointed or elected. The results of the ballot were as follows:
M. Scott Ratushny
John A. Brussa
David D. Johnson
James C. Smith
Gregory T. Tisdale
Cardinal is a junior Canadian oil focused company built to provide investors with a stable platform for dividend income and growth. Cardinal's operations are focused in all season access areas in Alberta.
SOURCE Cardinal Energy Ltd.
Painted Pony Announces Results from 2017 Annual General and
Special Meeting of Shareholders
Painted Pony Petroleum Ltd. ("Painted Pony" or the "Corporation") (TSX: PPY) is pleased to announce the results from the 2017 Annual General and Special Meeting of Shareholders held on May 11, 2017 (the "Meeting").
Proposed Acquisition of UGR Blair Creek Ltd.
Shareholders approved the issuance of 41,000,000 common shares of Painted Pony to Unconventional Resources Canada, LP (the "Vendor") as total consideration for the purchase of all of the shares of UGR Blair Creek Ltd. from Vendor by Painted Pony (the "Share Issuance").
Election of Directors
Shareholders elected each of the nominees proposed by management as set forth in the information circular of the Corporation dated March 30, 2017. The results of the voting on the election of directors is set forth below.
Kevin D. Angus
Glenn R. Carley
David W. Cornhill
Joan E. Dunne
Nereus L. Joubert
Arthur J. G. Madden
Patrick R. Ward
Peter A. Williams
Each of the directors elected at the Meeting will hold office until the close of the next annual meeting of shareholders of the Corporation or until his or her successor is duly elected or appointed pursuant to the by-laws of the Corporation.
Name Change to Painted Pony Energy Ltd.
Shareholders approved the amendment to the Articles of the Corporation to change the name of the Corporation from Painted Pony Petroleum Ltd. to Painted Pony Energy Ltd. (the "Name Change"). The results of the voting on the Name Change is set forth below.
The effective date of the name change will be the date of issuance of a certificate of amendment by the Registrar of Corporation in respect of the change of the Corporations name under the Alberta Business Corporations Act.
Detailed voting results for all resolutions considered by shareholders at the Meeting will be contained in the Report of Voting Results, which will be filed on SEDAR under Painted Pony's profile at www.sedar.com.
ABOUT PAINTED PONY
Painted Pony is a publicly-traded natural gas corporation based in Western Canada. The Corporation is primarily focused on the development of natural gas and natural gas liquids from the Montney formation in northeast British Columbia. Painted Pony's common shares trade on the TSX under the symbol "PPY". Following the name change of the Corporation, the Corporation intends to change its trading symbol on the TSX to "PONY".
SOURCE Painted Pony Petroleum Ltd.
Repsol Oil & Gas Canada Inc. Files Financial Statements
Repsol Oil & Gas Canada Inc. (the "Company") has filed its interim financial statements and related management's discussion and analysis for the first quarter of 2017.
The Company has also filed restated financial statements and related management's discussion and analysis for the year ended December 31, 2016 to adjust the accounting for a transaction with an affiliate in the Repsol Group. This transaction involved the sale by one of the Company's subsidiaries of a non-controlling interest in another subsidiary to an affiliate of the Company which occurred in late 2016. The accounting adjustments resulted in a reduction in the Company's net loss for the year ended December 31, 2016 by $228 million. The adjustments do not impact the Company's reported cash flows. The restatement is solely as a result of a review of the particular transaction and the changes needed to properly account for it.
The Company´s above-mentioned restatement does not have any impact on the consolidated financial disclosures of Repsol, S.A.
About Repsol Oil & Gas Canada Inc.
Repsol Oil & Gas Canada Inc. is an upstream oil and gas company incorporated in Canada and is a wholly-owned subsidiary of the Spanish integrated energy company Repsol, S.A.
SOURCE Repsol Oil & Gas Canada Inc.
Serinus Announces Receipt of EBRD Waiver
Serinus Energy Inc. (the "Company") (TSX:SEN)(WARSAW:SEN) is pleased to report that the European Bank of Reconstruction and Development ("EBRD") has formally waived compliance with the financial debt to EBITDA ratio and the debt service coverage ratio on the Company's debt at the consolidated level for the three-month period ended March 31, 2017.
Serinus is an international upstream oil and gas exploration and production company that owns and operates projects in Tunisia and Romania.
For further information, please refer to the Serinus website (www.serinusenergy.com).
SOURCE Serinus Energy Inc.
Tervita Corporation Announces Q1 2017 Financial Results Conference Call
Tervita Corporation announced today it will hold a conference call to discuss its Q1 2017 financial results for the three months ended March 31, 2017.
The call will be held on Wednesday, May 17, 2017 at 1:30 p.m. (Eastern).
Details for the call can be found on the Intralinks website. Copies of the March 31, 2017 financial statements will be available on the same website on Monday, May 15, 2017. Holders of Tervita Corporation's Senior Secured Notes can request access to Intralinks by contacting the Depository Trust Company or Greg Dowell, Director, Treasury.
Tervita is a leading environmental solutions provider. Our integrated earth, water, waste and resource solutions deliver safe and efficient results through all phases of a project by minimizing impact, maximizing returns.™ Our dedicated employees are trusted sustainability partners to oil and gas, construction, mining, government and communities. Safety is our highest priority: it influences our actions and shapes our culture. For more information visit Tervita.com.
SOURCE Tervita Corporation
Vermilion Energy Inc. Announces $0.215 Cdn Cash Dividend
For June 15, 2017 Payment Date
Vermilion Energy Inc. ("Vermilion") (TSX, NYSE: VET) is pleased to announce a cash dividend of $0.215 CDN per share payable on June 15, 2017 to all shareholders of record on May 23, 2017. The ex-dividend date for this payment is May 18, 2017. This dividend is an eligible dividend for the purposes of the Income Tax Act (Canada).
We commenced prorating the Premium DividendTM component of our Dividend Reinvestment Plan by 25%, beginning with the dividend paid on October 17, 2016, and announced a further 25% proration starting with the dividend paid on January 17, 2017. We have increased the proration factor by a further 25% beginning with the April 17, 2017 dividend payment. Eligible shareholders who have elected to participate in the Premium DividendTM component will receive a 1.5% premium on 25% of their participating shares, and the regular cash dividend on the remaining 75% of their shares. We plan to discontinue the Premium DividendTM component beginning with the July 2017 dividend payment, such that there would be no further equity issuance under the Premium DividendTM component of our Dividend Reinvestment Plan.
Vermilion is an international energy producer that seeks to create value through the acquisition, exploration, development and optimization of producing properties in North America, Europe and Australia. Our business model targets annual organic production growth, along with providing reliable and increasing dividends to investors. Vermilion is targeting growth in production primarily through the exploitation of light oil and liquids-rich natural gas conventional resource plays in Canada and the United States, the exploration and development of high impact natural gas opportunities in the Netherlands and Germany, and through oil drilling and workover programs in France and Australia. Vermilion also holds an 18.5% working interest in the Corrib gas field in Ireland. Vermilion pays a monthly dividend of Canadian $0.215 per share, which provides a current yield of approximately 5%.
SOURCE Vermilion Energy Inc.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.