MERGERS & ACQUISITIONS & DISPOSITIONS - QUARTERLY REPORTS - PRODUCTION UPDATES - CORPORATE ANNOUNCEMENTS - FINANCIAL UPDATES -3RD PARTY REPORTS
Bellatrix Reports Voting Results from 2017 Annual and Special Meeting
and Details of Common Share Consolidation
Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) is pleased to announce the voting results from its annual and special meeting of shareholders held May 17, 2017 in Calgary, Alberta (the "Meeting") and provide details on the proposed consolidation of the Company's common shares (the "Common Shares") approved at the Meeting.
VOTING RESULTS FROM THE MEETING
Each of the matters voted upon at the Meeting is discussed in detail in the Company's Management Information Circular dated April 3, 2017 (the "Information Circular"), which is available on SEDAR at www.sedar.com and on the Company's website at www.bellatrixexploration.com/investors/reports-and-filings.
A total of 138,107,640 Common Shares representing approximately 56 percent of the Company's issued and outstanding Common Shares were voted in person and by proxy at the Meeting. The voting results for each matter presented at the Meeting are provided below.
1. Election of Directors
The number of directors to be elected to the Board of Directors of the Company (the "Board") at the Meeting was fixed at nine and the following nine nominees were appointed as directors of Bellatrix to serve until the next annual meeting of the shareholders of the Company, or until their successors are elected or appointed:
Brent A. Eshleman
Murray L. Cobbe
John H. Cuthbertson
W.C. Mickey Dunn
Keith E. Macdonald
Thomas E. MacInnis
Steven J. Pully
Murray B. Todd
Keith S. Turnbull
2. Appointment of Auditors
KPMG LLP, Chartered Accountants, were appointed to serve as the auditors of the Company until the close of the next annual meeting of the shareholders of the Company, at remuneration to be fixed by the directors of the Company.
3. Approval of Common Share Consolidation
At the Meeting, a special resolution was passed authorizing and approving the filing of Articles of Amendment to consolidate (or reverse split) the Company's issued and outstanding Common Shares into a lesser number of issued and outstanding Common Shares on the basis of a consolidation ratio as selected by the Board of between 4 old Common Shares to 1 new Common Share and 6 old Common Shares to 1 new Common Share (the "Common Share Consolidation Resolution"). See additional details below.
4. Acceptance of Company's Approach to Executive Compensation
On an advisory basis and not to diminish the role and responsibility of the Board, the Company's approach to executive compensation disclosed in the Information Circular was approved with approximately 90 percent of votes cast in favour.
Voting in respect of fixing the number of directors and the appointment of the Company's auditors were conducted by a show of hands. Voting in respect of all other items was conducted by ballot, and as such the percentage of votes for those items reflects the results of the votes by ballot. Additional details in respect of the Meeting's voting results can be found on BXE's profile at www.sedar.com and www.sec.gov.
COMMON SHARE CONSOLIDATION
The Board has approved a consolidation of the Common Shares on the basis of a consolidation ratio of 5 old Common Shares to 1 new Common Share (the "Common Share Consolidation"). The Company expects that the Common Share Consolidation will take effect on or about July 1, 2017, and that trading on a post-consolidation basis on both the NYSE and TSX will commence on or about July 6, 2017. Additional details will be announced preceding the effective date of the Common Share Consolidation.
A letter of transmittal will be mailed to registered shareholders of the Company and such registered holders will be required to deposit their share certificate(s), together with the duly completed letter of transmittal, with Computershare Trust Company of Canada, the Company's registrar and transfer agent. Non-registered shareholders holding Common Shares through an intermediary (a securities broker, dealer, bank or financial institution) should be aware that the intermediary may have different procedures for processing the Common Share Consolidation than those that will be put in place by the Company for registered shareholders. If shareholders hold their Common Shares through an intermediary and they have questions in this regard, they are encouraged to contact their intermediaries
SOURCE Bellatrix Exploration Ltd
Enerflex Announces Two New Directors
The Board of Directors of Enerflex Ltd. (TSX:EFX) ("Enerflex" or the "Company"), is pleased to announce the appointment of Ms. Maureen Cormier Jackson and Mr. Kevin Reinhart to the Board.
Ms. Cormier Jackson has over 35 years of executive, financial, and operational expertise in the oil and gas industry. Ms. Cormier Jackson's career spanned numerous roles at Suncor Energy Inc. which provided experience in the areas of accounting and financial controls, environment, health, and safety (EHS), project management, and ultimately as Senior Vice President, Chief Process and Information Officer. Ms. Cormier Jackson is retired and currently serves on Penn West Petroleum Ltd.'s Board of Directors. Ms. Cormier Jackson is a Chartered Professional Accountant and resides in Calgary, Alberta.
Mr. Reinhart brings to Enerflex extensive executive and financial experience in international energy company operations. After an early career in public accounting, Mr. Reinhart joined Nexen Inc. and held a number of senior roles in financial reporting, treasury, risk management, corporate planning, and business development before becoming Nexen's Chief Financial Officer and ultimately interim President and Chief Executive Officer. Mr. Reinhart's extensive international expertise will bring additional strength to Enerflex. Mr. Reinhart is retired and has served as a director of three publicly-listed companies. He is a Chartered Professional Accountant and resides in Calgary, Alberta.
"Ms. Cormier Jackson and Mr. Reinhart bring enhanced depth to our Board with their extensive experience in energy sector accounting, finance, major projects, risk management, and international business," said Stephen J. Savidant, Chairman of the Enerflex Board of Directors. "We are very pleased to have the benefit of that experience and to expand the Board to support our growth."
Ms. Cormier Jackson and Mr. Reinhart join the current slate of Enerflex directors comprised of Messrs. Robert S. Boswell, W. Bryon Dunn, J. Blair Goertzen, H. Stanley Marshall, Stephen J. Savidant, and Michael A. Weill and Ms. Helen J. Wesley.
Enerflex Ltd. is a single source supplier of natural gas compression, oil and gas processing, refrigeration systems, and electric power generation equipment - plus related engineering and mechanical service expertise. The Company's broad in-house resources provide the capability to engineer, design, manufacture, construct, commission, and service hydrocarbon handling systems. Enerflex's expertise encompasses field production facilities, compression and natural gas processing plants, refrigeration systems, and electric power equipment servicing the natural gas production industry.
Headquartered in Calgary, Canada, Enerflex has approximately 1,800 employees worldwide. Enerflex, its subsidiaries, interests in associates, and joint-ventures operate in Canada, the United States, Argentina, Bolivia, Brazil, Colombia, Mexico, Peru, Australia, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Indonesia, Malaysia, and Thailand. Enerflex's shares trade on the Toronto Stock Exchange under the symbol "EFX". For more information about Enerflex, go to www.enerflex.com.
SOURCE Enerflex Ltd.
Painted Pony Announces Name Change
Painted Pony Energy Ltd. ("Painted Pony" or the "Corporation") (TSX:PPY) is pleased to announce that its name has changed from "Painted Pony Petroleum Ltd." to "Painted Pony Energy Ltd.".
On May 11, 2017, shareholders authorized an amendment to the Articles of the Corporation to change the name of the Corporation by filing articles of amendment, in the prescribed form, with the Registrar under the Business Corporations Act (Alberta).
The certificate of amendment and registration statement reflecting the legal name change is dated May 17, 2017 and can be found on the Corporation's website at paintedpony.ca/about-us.
The Corporation has applied to change the trading symbol for its common shares on the Toronto Stock Exchange (the "TSX") from "PPY" to "PONY" and has reserved the symbol "PONY" with the TSX for this purpose. This change will be effective as soon as possible.
ABOUT PAINTED PONY
Painted Pony is a publicly-traded natural gas company 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". The Corporation intends to change its trading symbol on the TSX to "PONY".
SOURCE Painted Pony Petroleum Ltd.
Precision Drilling Corporation Announces Voting Results from the 2017 Annual and Special Meeting of Shareholders
Precision Drilling Corporation ("Precision" or "Company") (TSX:PD)(NYSE:PDS) held its annual and special meeting of shareholders in Calgary on May 17, 2017. A total of 201,287,007 shares (approximately 68.64% of the outstanding common shares) were represented in person or by proxy. During the meeting, shareholders approved the following:
William T. Donovan
Brian J. Gibson
Allen R. Hagerman
Catherine J. Hughes
Steven W. Krablin
Stephen J.J. Letwin
Kevin O. Meyers
Kevin A. Neveu
2. The appointment of KPMG LLP as Precision's auditors, with 99.48% of shares represented at the meeting voting in favour of the appointment.
3. Management's approach to executive compensation ("Say-on-Pay") disclosed in Precision's management information circular, with 91.92% of shares represented at the meeting voting in favour of the advisory resolution.
4. A new omnibus equity incentive plan, with 91.37% of shares represented at the meeting voting in favour of the approval of the plan.
Precision is a leading provider of safe and High Performance, High Value services to the oil and gas industry. Precision provides customers with access to an extensive fleet of contract drilling rigs, directional drilling services, well service and snubbing rigs, camps, rental equipment, and water treatment units backed by a comprehensive mix of technical support services and skilled, experienced personnel.
Precision is headquartered in Calgary, Alberta, Canada. Precision is listed on the Toronto Stock Exchange under the trading symbol "PD" and on the New York Stock Exchange under the trading symbol "PDS."
SOURCE Precision Drilling Corporation
Sunshine Oilsands Ltd.: Increase in Shareholding in the Company
by Chairman and Major Shareholder
The Board of Directors of Sunshine Oilsands Ltd. ("the Corporation" or "Sunshine") (HKSE:2012) hereby announces the following:
The Corporation was informed by its major shareholder, Mr. Sun Kwok Ping ("Mr. Sun"), the executive director and chairman of the board of directors (the "Board") of the corporation, that on May 17, 2017, Mr. Sun acquired a total of 1,000,000 shares of the corporation through on-market purchases for an aggregate consideration of HK$275,000.
Mr. Sun is confident about the future prospects of Sunshine and the oil industry and believes that there will be continued growth and development of the corporation. Mr. Sun does not rule out the possibility of further increasing his shareholding in Sunshine as he feels appropriate in the future, subject to compliance with applicable legal and regulatory requirements. As a result of the acquisition, Mr. Sun holds 1,268,202,500 shares in the Company, representing approximately 23.10% of the issued share capital of the Company.
ABOUT SUNSHINE OILSANDS LTD.
The Corporation is a Calgary based public corporation listed on the Hong Kong Stock Exchange since March 1, 2012. The Corporation is focused on the development of its significant holdings of oil sands leases in the Athabasca oil sands region. The Corporation owns interests in approximately one million acres of oil sands and petroleum and natural gas leases in the Athabasca region. The Corporation is currently focused on executing milestone undertakings in the West Ells project area. West Ells has an initial production rate of 5,000 barrels per day.
SOURCE Sunshine Oilsands Ltd.
Valeura Announces Executive Appointment
Valeura Energy Inc. ("Valeura" or the "Corporation") (TSX: VLE) is pleased to announce the appointment of Sean Guest as Chief Operating Officer of the Corporation. He will initially divide his time between Turkey and Calgary as operational activity ramps-up in Turkey.
Sean brings more than 25 years of experience in the oil and gas industry, almost all international, including 15 years in senior and executive leadership roles. His early 12-year career with Shell included assignments in the Netherlands, Australia and Malaysia. He subsequently joined Woodside Energy, where he managed the company's exploration program in Libya from 2005 to 2009, followed by management of the exploration and new business functions in Australia. For the past seven years, he has been CEO of two private, junior international companies with exploration and production operations in Australia, Indonesia, Malaysia and Ethiopia.
Sean has a Ph.D. in Geology and a B.Sc. in Applied Science (Honours), both from Queen's University at Kingston.
Jim McFarland, President and Chief Executive Officer of Valeura said, "We are delighted to welcome Sean to the Valeura team. His appointment completes a key step in our plan to effectively transition Valeura to a larger operator role in its shallow gas business in the Thrace Basin in northwest Turkey. Valeura operates the Banarli licences and now also operates the TBNG JV lands as a result of the Corporation's recent acquisition of TBNG. A new shallow gas drilling campaign is expected to commence by the end of May 2017. Valeura is also operator of the US$36 million, deep exploration program under the Banarli Farm-in agreement with Statoil, in which drilling of the first deep well commenced on May 13, 2017."
ABOUT THE CORPORATION
Valeura Energy Inc. is a Canada-based public company currently engaged in the exploration, development and production of petroleum and natural gas in Turkey.
Additional information relating to Valeura is also available on the Corporation's website at www.valeuraenergy.com.
SOURCE Valeura Energy Inc.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.