CS - People & Companies - January 29, 2020Calgary-based and Colombiafocused Arrow Exploration announced the resignation of Dominic Dacosta as chairman, though he will continue to serve on the board. The company named Anthony Zaidi as his replacement. Zaidi is also the business development VP and general counsel for Canacol Energy Ltd. Toronto-based CGX Energy appointed Gabriel de Alba as co-chairman of the board on Jan. 15, having elected him as a director at a special shareholder meeting on Jan. 7. CGX is focused on oil...
Jan 29, 2020
CS - People & Companies - January 8, 2020Calgary-based and Colombiafocused Arrow Exploration appointed Felix Betancourt interim CEO. He is a former senior executive of both Canacol Energy Ltd. and Ecopetrol. Alex Pourbaix retired from his membership on Trican Well Service Ltd.’s board on Dec. 31 to focus on his role as president and CEO of Cenovus Energy, as well as other commitments as board chair at Mount Royal University and incoming chair of the Canadian Association of Petroleum Producers. Edmonton, Alberta-based...
Jan 08, 2020
CS - Canacol flow tests 3 Magdalena wells at ~30 MMcf/d each - July 2019Calgary-based Canacol Energy Ltd. flow tested its Acordeon-1 and Ocarina-1
exploration wells at its VIM 5 block (100% WI) in Colombia’s Lower Magdalena
Valley. Acordeon-1 was drilled first, encountered 420 ft of gross gas pay
and flowed at a final rate of
33 MMcf/d. Canacol then
adjusted its 2019 drilling program to drill
Ocarina-1 1 km southeast of the first well. It encountered 530 ft of gross gas pay
and reached a final rate of 30.4 MMcf/d after a 32-hour production test,...
Jul 31, 2019
Arrow Exploration to raise $30MM, announces acquisitionsPrivately held Arrow Exploration announced it would place 30 million subscription receipts for $1 each to raise $30 million to partially fund two key acquisitions. Arrow announced the placement concurrently with two acquisitions.In the first, Arrow will acquire TSX-Venture listed Montney explorer Front Range Resources, a reverse merger transaction which will take it public. Front Range shareholders will own 8.3% of the combined company’s shares. The combined company will focus on...
Jun 28, 2018
Arrow launches in Colombia with $50 million purchasePrivate Canadian start-up Arrow Exploration announced its first two acquisitions, totaling $50 million in Colombia. It agreed to acquire Toronto-listed Canacol Energy’s subsidiary Carrao Energy Ltd. for US$40 million, split 50:50 between cash and stock. Separately, it will issue $10 million in shares to Bogota-based Samaria Exploration & Production for a 50% stake in an undeveloped Llanos Basin block. Carrao represents the last conventional oil assets of Canacol, which has increasingly...
Jun 20, 2018
Arrow takes flight with Front Range merger, Colombia buysPrivate Canadian junior Arrow Exploration announced a series of transactions to go public and establish an initial footprint in Colombia. Arrow signed an arrangement agreement to merge with TSX Venture-listed Montney explorer Front Range Resources via a reverse takeover deal, with the combined company to retain the Arrow name and be traded on TSX Venture as a Tier 1 oil and gas issuer. As a result, Front Range shareholders will own 8.29% of the combined company’s shares. Concurrently, Arrow...
Jun 12, 2018
Latin America - May 19, 2015• Alvopetro Energy Ltd. is acquiring the remaining 50% WI in Block 170 from partner Canacol Energy. Prior to the acquisition, Alvopetro had a commitment to pay 100% of the cost of a well targeting the Gomo formation (3,200 m vertical depth) to retain a 90% interest in the formation and a 50% interest in all formations above the Gomo. This acquisition allows the company to reduce its capital commitments on Block 170 by drilling a shallower well and retaining 100% of the upside from the...
May 19, 2015
IS - News Briefs - July 23, 2019ASX-listed ADX Energy struck a deal
with Austrian E&P firm RAG Exploration
& Production GmbH to acquire the
onshore Zisterdorf and Gaiselberg fields
located in Austria’s Vienna Basin for $4.5
million (€4 million). Each field covers
2,503 sq km and holds total 2P reserves
of 0.98 MMboe. The assets are producing
350 boe/d and are expected to generate
2019 post-tax flow of $2.25 million. Axxis Geo Solutions, an enlarged
company through the buyout of Songa
Bulk, announced its listing on...
Jul 23, 2019
CS - Finance Briefs - December 04, 2018Birchcliff Energy announced a
normal-course issuer bid, a program that
will allow it to buy back and cancel 18.8
million of its common
shares, just over 7% of
its total outstanding share capital. The
plan will be valid through Nov. 22, 2019.
As of Nov. 9, the company had 265.9
million shares outstanding. The Toronto
Stock Exchange approved the plan, and
the company was authorized to start
buying back shares at its own discretion
starting Nov. 23. Canacol Energy plans to
repurchase and...
Dec 04, 2018
CanadianCapital - People & Companies Briefs - October 12, 2016AltaGas Ltd. director Hugh Fergusson passed away. Fergusson was a director of AltaGas and its predecessor since 2008. Caspian Energy’s board selected director Frank Ingriselli to serve as chairman. He replaces Michael Nobbs, who resigned. Ingriselli is the founder and chairman of NYSE-listed energy company Pacific Energy Development. Also, Caspian’s shares have been reinstated for trading on the NEX. They had been suspended as a result of a delay in Caspian filing its 2015 financial...
Oct 12, 2016
People & Companies Briefs - December 15, 2015Canacol Energy has appointed Jason Bednar as permanent CFO, a position he has held on an interim basis since June following the departure of George Gramatke. Bednar is a chartered accountant with more than 18 years of direct professional experience in the financial and regulatory management of oil and gas companies. He has been the CFO of several international oil and gas exploration companies, most notably serving as the first CFO of Pan Orient Energy.Cheniere Energy has parted ways...
Dec 15, 2015
People & Companies Briefs - December 09, 2015Bankers Petroleum has appointed Kristofer Gustafsson as its VP of production and operations and a deputy general director. He has 15 years of experience in the oil and gas business in both Canada and Albania. Gustafsson joined Bankers in 2009 as a lead petroleum engineer tasked with applying the latest production technology from Canada in Albania. In Albania, Canada-based Bankers has rights to develop the Patos-Marinza heavy oilfield, has 100% WI in the Kuçova oilfield and 100% WI in...
Dec 09, 2015
People & Company Briefs - October 13, 2015• African Petroleum announced that CEO Stuart Lake is retiring because of health reasons and will be replaced by current COO Jens Pace. Pace is a geoscientist with more than 30 years of industry experience including leadership roles in Africa and other regions with BP. He joined African Petroleum in 2012 and has been instrumental in maturing its exploration assets and negotiating with potential JV partners. African Petroleum has interests in the Ivory Coast, Liberia, Senegal, Gambia and Sierra...
Oct 13, 2015
People Briefs - June 03, 2015• Canacol Energy Ltd. announced that CFO George Gramatke is taking a leave of absence for personal reasons until November 30. His duties will be temporarily assumed by Jason Bednar, a director of Canacol and chair of the audit committee. He will resign from the audit committee while acting as CFO. • Cenovus announced that four executives have made the decision to retire at various times during 2015. The departing executives are COO John Brannan, general council Kerry Dyte, EVP of...
Jun 03, 2015
People Briefs - May 28, 2015• Blackbird Energy has appointed Burton Ahrens to its board. Ahrens is president of venture capital firm The Edgehill Corporation and is also a director of Canadian Energy Services and Technology Corp. He has been granted 750,000 stock options exercisable at a price of $0.21 in connection with his appointment. • Canacol Energy said CFO George Gramatke will take a leave of absence for personal reasons until November 30. Jason Bednar, a director and the chairman of its Audit Committee,...
May 28, 2015