MERGERS & ACQUISITIONS & DISPOSITIONS - QUARTERLY REPORTS - PRODUCTION UPDATES - CORPORATE ANNOUNCEMENTS - FINANCIAL UPDATES -3RD PARTY REPORTS
Tuesday June 20 2017
Cenovus President & Chief Executive Officer Brian Ferguson to retire
Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced that its President & Chief Executive Officer Brian Ferguson will be retiring as an officer and director of the company on October 31, 2017. Ferguson will continue in his roles leading the company and serving on the Board of Directors until that time.
The Board will engage immediately in a broad global search for a new President & Chief Executive Officer. Following his retirement at the end of October, Ferguson will continue in a transition advisor role reporting to the Board Chair until March 31, 2018 to minimize disruption to Cenovus's business and support the Board during the leadership transition.
“My time at Cenovus has been an amazing experience and now I am ready for the next adventures in my life,” said Ferguson. “Cenovus has a bright future ahead and I am confident in the abilities of the leaders and staff to rise to any challenges and continue to evolve the company.”
“On behalf of the Board, I want to thank Brian for the significant contribution he has made to Cenovus,” said Patrick Daniel, Chair of the Cenovus Board. “His leadership, from the establishment of the company through the ups and downs of the commodity price cycle, to the transformation of Cenovus with the recent acquisition, has the company well positioned for the future.”
Ferguson has been at the head of Cenovus since the company launched in December of 2009. He joined a predecessor company in 1984 and became a member of the Management Team in 1994. He has held roles in a variety of areas including finance, business development, reserves, strategic planning, investor relations and communications. Ferguson has been a committed supporter of the oil and gas industry through activities such as Board membership for the Business Council of Canada and the Canadian Association of Petroleum Producers and participation on the federal Minister of Finance’s Advisory Council on Economic Growth. He also dedicates considerable time to the community, including as Chair of the Calgary Police Foundation Board.
Cenovus Energy Inc.
Cenovus Energy Inc. is a Canadian integrated oil company. It is committed to applying fresh, progressive thinking to safely and responsibly unlock energy resources the world needs. Operations include oil sands projects in northern Alberta, which use specialized methods to drill and pump the oil to the surface, and natural gas and oil production in Alberta, British Columbia and Saskatchewan. The company also has 50% ownership in two U.S. refineries.
Cenovus shares trade under the symbol CVE, and are listed on the Toronto and New York stock exchanges. For more information, visit cenovus.com.
SOURCE Cenovus Energy Inc
Journey Energy Inc. Reports Board of Director Changes
Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") is pleased to announce that Glenn A. Hamilton has been appointed to the Board of Directors as of today.
Mr. Hamilton recently retired from Bonavista Energy Corporation where he held the positions of Senior Vice President and Chief Financial Officer. Mr. Hamilton has over 35 years of experience in accounting and finance in the oil and gas industry. He is a Chartered Professional Accountant and with his expertise and experience, it is anticipated that he will chair the Audit Committee of the Board.
Also recently joining the Board is Ryan Shay, who was elected at the annual general meeting of Journey, which was held on May 24, 2017. Mr. Shay has in excess of 20 years of experience in the oil and gas industry and was Managing Director, Head of Investment Banking at Cormark Securities Inc. until he retired therefrom in June 2016. Mr. Shay was a member of Cormark's Executive Committee, Risk Committee, Capital Markets Committee, Compensation Committee, Compliance Committee and Audit Committee.
Journey also wishes to announce that Stephen Mulherin is retiring from the Board concurrently with Mr. Hamilton's appointment. In addition, and as previously announced at the annual general meeting, Mr. Wieland Wettstein retired from the Board effective May 24, 2017. Both Mr. Mulherin and Mr. Wettstein have been members of the Board since May of 2014. Journey wishes to thank Mr. Mulherin and Mr. Wettstein for their mentorship and guidance throughout the last three years which has included the initial public offering of Journey; rationalizing Journey's asset base; stewarding the Company through the rapid oil price declines of the last two years, and reshaping the Company's shareholder base. Journey wishes both Mr. Mulherin and Mr. Wettstein all the best in their future endeavors.
SOURCE Journey Energy Inc.
Pengrowth Announces Board of Director Election Results
Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) is pleased to announce that at its annual and special meeting of shareholders held earlier today, each of the seven nominees listed in its management information circular dated May 5, 2017 were elected as directors to serve until the next annual meeting of shareholders of Pengrowth, or until their successors are elected or appointed.
Derek W. Evans
Wayne K. Foo
Kelvin B. Johnston
James D. McFarland
A. Terence Poole
Jamie C. Sokalsky
D. Michael G. Stewart
In addition to the voting results for the Board of Directors, the remaining agenda items at the meeting including the appointment of Auditors, Reduction of Stated Capital and Advisory Vote on Executive Compensation were approved by shareholders by a margin in excess of 92 percent. Full voting results for the annual meeting are available on SEDAR at www.sedar.com
Pengrowth Energy Corporation is a Canadian intermediate energy company focused on the sustainable development and production of oil and natural gas in Western Canada. The Company is headquartered in Calgary, Alberta, Canada and has been operating in the Western basin for over 28 years. The Company's shares trade on both the Toronto Stock Exchange under the symbol "PGF" and on the New York Stock Exchange under the symbol "PGH".
SOURCE Pengrowth Energy Corporation
Spartan Energy Corp. Announces Results of Election of Directors and Details of Common Share Consolidation
Spartan Energy Corp. ("Spartan" or the "Company") (TSX:SPE) announces that at its annual general and special meeting (the "Meeting") of the holders ("Shareholders") of common shares ("Common Shares") of the Company held on June 20, 2017 the five nominees were elected as directors of the Company to serve until the next annual meeting of shareholders of the Company, or until their successors are elected or appointed. The vote was passed by way of ballot and the directors received the following votes for their election:
Richard F. McHardy
Reginald J. Greenslade
Grant W. Greenslade
Michael J. Stark
COMMON SHARE CONSOLIDATION
Spartan announces that, at the Meeting, a special resolution was passed authorizing and approving the Company to consolidate the Common Shares on the basis of one post-consolidation Common Share for every three pre-consolidation Common Shares (the "Consolidation").
Following Shareholder approval of the Consolidation, the Company's board of directors set June 20, 2017 as the effective date of the Consolidation and filed Articles of Amendment to give effect to the Consolidation. Trading of the Common Shares on a post-Consolidation basis on the TSX will commence on or about June 23, 2017.
The 526,808,886 Common Shares currently issued and outstanding will be reduced to approximately 175,602,962 Common Shares on a post-Consolidation basis. No fractional shares will be issued. Any fractional interest in Common Shares that is less than 0.5 of a Common Share resulting from the Consolidation will be rounded down to the nearest whole Common Share and any fractional interest in Common Shares that is 0.5 or greater of a Common Share will be rounded up to the nearest whole Common Share.
SOURCE Spartan Energy Corp.
Tourmaline Announces Significant Multiple Charitable Donations by its CEO
Tourmaline Oil Corp. (TSX - TOU) ("Tourmaline") is pleased to announce that its President and Chief Executive Officer, Michael Rose, is donating a total of $26 million to multiple ongoing charitable initiatives supporting youth education, health, and sports and include:
The construction of the funded projects at Strathcona-Tweedsmuir School, Queen's University, University of British Columbia and the University of Calgary is well underway and expected to be largely completed in 2017. These charitable projects supported by Mr. Rose and spouse, Susan Riddell Rose, will be personally funded by Mr. Rose from the sale or donation of approximately 7.5% of his current total shareholdings of over 13 million shares. Once these trades are settled, Mr. Rose will own approximately 12.1 million common shares, representing approximately 4.5% of Tourmaline's total outstanding shares on a non-diluted basis. Tourmaline was advised by Mr. Rose that his decision to sell a portion of his common shares in Tourmaline was made for the purposes of funding these various charitable initiatives and that he is not planning any further Tourmaline stock sales at this time.
About Tourmaline Oil Corp.
Tourmaline is a Canadian senior crude oil and natural gas exploration and production company focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin.
SOURCE Tourmaline Oil Corp
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.