Pieridae Energy acquires Ikkuma Resources for $155 millionCanada’s first publicly traded integrated LNG company, Pieridae Energy, is acquiring Calgary-based Ikkuma Resources for C$155.2 million (US$118.9 million), consisting of $94 million in equity and $61.2 million of assumed net debt. The deal will also see the transfer of some of Ikkuma’s interests in Cardium light-oil assets that are being spun-out into a new private company, with Ikkuma shareholders receiving 0.1926 shares of Pieridae and 0.1 shares of the new company. Pieridae and Ikkuma said...
Sep 06, 2018
Besides Kitimat, Canada LNG sector is slowIn addition to Petronas’ LNG Canada acquisition, the sector’s hopes were also modestly buoyed last November with Quebec E&P Petrolia Inc. and privately held LNG-focused Pieridae Energy Ltd.’s reverse takeover to form Canada’s first publicly traded integrated LNG company. That deal complements Pieridae's strategy to consolidate natural gas reserves and build a long-term portfolio to supply gas to its 100%-owned Goldboro LNG export facility project in Nova Scotia. Petrolia gained its...
Jun 12, 2018
Canada’s first public LNG company signs supply contractPieridae Energy Ltd. has signed a 10-year agreement to supply LNG to Europe from the second train of its Goldboro liquefaction facility in Nova Scotia. Under the agreement, the undisclosed buyer will take up to 1.0 mtpa of LNG starting sometime around 1Q23. The agreement comes after the company contracted the entire output from Train 1 to Uniper. The Goldboro LNG project consists of an LNG processing facility, storage tanks and marine works at the Goldboro Industrial Park in Guysborough...
May 18, 2018
Pétrolia & Pieridae form Canada’s first public LNG firmQuebec E&P Petrolia Inc. and privately held LNG-focused Pieridae Energy completed a reverse takeover to form Canada’s first publicly traded integrated LNG company. That deal complements Pieridae’s strategy to consolidate natural gas reserves and build a long-term portfolio to supply gas to its 100%-owned Goldboro LNG facility project in Nova Scotia. Pétrolia gains its first exposure to LNG; the means for accelerating exploration of its 4.0-million-acre lease position in Quebec; and a long-term...
Nov 28, 2017
Pétrolia & Pieridae combo yields Canada’s first public LNG co.Quebec E&P Petrolia Inc. and privately held LNG-focused Pieridae Energy Ltd. completed a reverse takeover to form Canada’s first publicly traded integrated LNG company. That deal complements Pieridae's strategy to consolidate natural gas reserves and build a long-term portfolio to supply gas to its 100%-owned Goldboro LNG facility project in Nova Scotia. Pétrolia gains its first exposure to LNG; the means for accelerating exploration of its 4.0-million-acre lease position in Quebec; and a...
Nov 06, 2017
Pieridae & Petrolia complete plan of arrangementPetrolia Inc.'s reverse merger with Pieridae Energy Ltd., which was approved
by the Quebec Superior Court on Oct. 16, was completed on Oct. 26. The new company.
formed by way of plan of arrangement, will go by Pieridae Energy Ltd, and its shares
now trade on the TSX Venture Exchange.
The $24.6 million raised in Pieridae’s previously announced
brokered subscription receipt was released as well. About 2.05 million
subscription receipts are converting into common shares of Pieridae in...
Oct 27, 2017
Pieridae closes $25.7MM placement prior to reverse mergerPieridae Energy has issued nearly 2.0 million subscription receipts at a price of
$12.50 each for gross proceeds of $25.7 million. The receipts will be converted into
Pieridae shares and exchanged for common shares of Amalco, a new entity which
combines Pieridae assets with those held
by Petrolia Inc.
Pieridae Energy is in the middle of a
reverse merger with Petrolia Inc, a publicly listed upstream explorer based in Quebec.
The combined companies will form a LNG company with upstream...
Sep 13, 2017
Petrolia confirms presence of oil & gas at BourquePetrolia Inc. has continued its work on its Bourque property on the Gaspe Peninsula in Quebec to confirm the presence of resources. Additional data has been collected from the Bourque No. 1 recompletion and the new Bourque HZ No. 3. Both wells confirmed the presence of oil & gas in the reservoir.Following fluid collection, the No. 1 experienced a decreased gas flows during its initial production period. The well was then shut in for a 27 hours until wellhead pressure reached 2,620 kPa....
Jul 13, 2017
Pétrolia & Pieridae to merge, will raise up to $300 millionQuebec-based explorer Pétrolia Inc. received a green light from the province on June 28 to reverse merge with Pieridae Energy Ltd., which will instantly create a public market for the private developer of the proposed Goldboro LNG project in Nova Scotia. By combining with TSX-Venture-traded Pétrolia, Pieridae will achieve its plan to become an LNG company with upstream assets and then go out and raise up to $300 million. The May definitive agreement calls for the pair to amalgamate into...
Jul 06, 2017
PetroShale holds private placementPetrolia Inc. issued 5.2 million flow-through common shares at $0.18 each for gross proceeds of $940,000. The securities are subject to a hold period expiring July 18. The company paid 6% of the proceeds as a finder’s fee to Marquest Capital Markets. The transaction was announced two days before Petrolia’s reverse takeover by Pieridae Energy, which formed Canada's first publiclytraded integrated LNG...
Jun 14, 2017
Petrolia, Pieridae reverse takeover advances Goldboro LNGQuebec E&P Petrolia Inc. and privately held LNG-focused Pieridae Energy Ltd. will combine in a reverse takeover to form Pieridae Energy Ltd. (Amalco), Canada’s first publicly traded, integrated LNG company. The deal complements Pieridea's strategy to consolidate natural gas reserves and build a long-term portfolio to supply gas to its 100%-owned Goldboro LNG facility project in Nova Scotia. Petrolia gains its first exposure to LNG, the means for accelerating exploration of its 4.0-million acre...
May 16, 2017
Anticosti Hydrocarbons preps for 2017 drilling campaign - September 8, 2016land-clearing work and drilling site preparation for work on Anticosti Island. The partnership chose drilling sites based on the combined results of seven stratigraphic surveys performed in 2015 and five performed in 2014. Hydraulic fracturing and production tests are slated for early summer 2017. Anticosti Hydrocarbons is an LP owned by Ressources Québec (35%), Petrolia Inc. (21.67%), Maurel & Prom (21.67%) and Corridor Resources (21.67%). The partnership holds 38 permits for hydrocarbon...
Sep 08, 2016
Petrolia suing over Anticosti funding - July 28, 2016Petrolia Inc. subsidiaries Petrolia Anticosti, operator for Anticosti Hydrocarbons, and Investissements PEA Inc. a partner in the project, have filed an injunction application to require Ressources Québec and Maurel & Prom to fulfill their obligation toward AHLP. In a 2014 deal, Petrolia and Corridor Resources transferred their Anticosti exploration permits to AHLP in exchange for an investment of up to $100 million from Ressources Quebec and Saint-Aubin to finance the work program. The two...
Jul 28, 2016
Anticosti drilling slated for summer 2016 - May 27, 2016Anticosti Hydrocarbons plans to conduct a drilling campaign on Anticosti Island subject to regulatory approvals, with hydraulic fracturing and production tests slated for early summer 2017. Anticosti Hydrocarbons is an LP owned by Ressources Québec (35%), Petrolia Inc. (21.67%), Maurel & Prom (21.67%) and Corridor Resources (21.67%). The partnership holds 38 permits for hydrocarbon exploration totaling 6,195 sq km on Anticosti Island. The partnership aims to demonstrate the commercial viability...
May 27, 2016
People & Companies Briefs - September 1, 2016Africa Hydrocarbons has appointed Andrew Male and Stephan Fabian to its board. Male is CEO of two TSX Venture Exchange-listed companies, while Fabian is a mining engineer with more than 25 years of experience in the resources sector. David Antony and Binh Vu have both resigned as directors.Manitok Energy has appointed former Raimount Energy CEO Greg Vavra as EVP, business development, in the wake of its acquisition of Raimount. Manitok also appointed Rodger Perry as VP, land. Perry...
Sep 01, 2016