6 - 2017 - Canadian Energy News, Top Headlines, Commentaries, Features & Events

EIA shows oilsands saw major reserve writedown in 2016 following oil price drop

June 12, 2017 by The Canadian Press

CALGARY — The U.S. Energy Information Administration has highlighted how last year’s oil price drop brought on a massive writedown of high-cost Canadian oilsands reserves.

The EIA said in a brief Monday that data from 68 U.S.-listed companies shows their oilsands reserves dropped by a total of about 7.7 billion barrels, making up the vast majority of their 8.2-billion net reduction in commercially viable barrels globally.

The writedowns came after the West Texas Intermediate oil price averaged US$43.44 per barrel in 2016, down 11 per cent from US$48.83 per barrel in 2015.

U.S.-listed companies are required to use price averages for the past year in calculating reserves, while Canadian rules allow companies to use forward-looking prices.

Canada is estimated to have the third largest reserves of crude oil in the world at 171 billion barrels, with 166 billion of those barrels found in the oilsands.

The 68 U.S.-listed companies were left with about 16 billion barrels of oilsands reserves following their downward revisions.

The Canadian Press

2024 National Coalition of Chiefs Energy And Natural Resource Summit

Weekly Canadian Oil & Gas Industry Highlights – June 12, 2017

June 30, 2017June 12, 2017 by EnergyNow Media

June 5, 2017 Presented by POIM Consulting Group Major /Interesting Projects NuVista Energy Ltd. Large compressor install existing facility 08-10-068-08W6 Paramount Resources Ltd pump install existing facility Grovedale CNRL 8 new Bitumen battery – multiwall BONNYVILLE Whitecap Resources Inc. Oil satellite – multiwall Drayton Valley Crescent Point Energy Corp. Gas Processing Plant work 13-1-5-20 W3 … Read more

Touchstone Announces Additional Director Nominee for Upcoming Annual Shareholder Meeting

June 12, 2017 by The Canadian Press

FOR: TOUCHSTONE EXPLORATION INC.TSX SYMBOL: TXPDate issue: June 12, 2017Time in: 2:49 PM eAttention:
CALGARY, ALBERTA–(Marketwired – June 12, 2017) – Touchstone Exploration Inc.
(“Touchstone” or the “Company”) (TSX:TXP) is pleased to announce that it…

Natural gas built Qatar, now may protect it in Gulf dispute

June 12, 2017June 12, 2017 by The Canadian Press

DUBAI, United Arab Emirates — Natural gas built the high-rises of Qatar’s capital, put the Al-Jazeera satellite news network on the air and a fleet of passengers jets for its state carrier in the sky. Now, it may be what protects Qatar as it is in the centre of the worst diplomatic crisis to strike the Gulf in decades.

As the world’s biggest exporter of liquid natural gas, Qatar’s supplies keep homes warm in the British winter, fuel Asian markets and even power the electrical grid of the United Arab Emirates, one of the main countries that has cut ties to the energy-rich nation.

So far, its supplies have continued uninterrupted since the diplomatic dispute began last week. Natural gas markets have yet to respond to the rift and prices have remained stable. But Qatar wields a potential economic weapon if the crisis escalates and countries around the world that depend on its supply may find themselves needing to side with the tiny nation that is home to a major U.S. military installation.

“If Qatari gas exports were to be blocked, countries like Britain, Japan, South Korea and China would have an energy crisis and would have to scramble to get their energy elsewhere,” said Kristian Coates Ulrichsen, a Seattle-based research fellow at the James A. Baker III Institute for Public Policy at Rice University who has extensively studied Qatar.

“For any small country, particularly a small country in the Gulf surrounded by much larger and potentially expansionary powers, having international partnerships is a key tool of your external security,” he said. “I think that may be what the Qataris are banking on right now.”

Qatar, a country of 2.2 million people where citizens make up over 10 per cent of the population, discovered the offshore North Field in 1971, the same year it became independent. It took years for engineers to discover the field’s vast reserves, which shot Qatar to No. 3 in world rankings, behind Russia and Iran, with which it shares the North Field.

It began exporting natural gas in 1997, just after Qatari Crown Prince Hamad bin Khalifa Al Thani seized power from his father, Sheikh Khalifa, in a palace coup. Sheikh Hamad used revenue from the natural gas to pursue a diplomatic path away from Saudi Arabia, long the heavyweight among Gulf countries. Qatar also secured hosting the 2022 FIFA World Cup, relying on that money to build stadiums and develop Doha, its capital.

But all that time, Qatar kept a wary eye on its neighbours. Though both it and Saudi Arabia practice an ultra-conservative form of Sunni Islam called Wahhabism, Qatar allows women to drive and foreigners to drink alcohol. Qatar also has clashed with Saudi Arabia and Bahrain over territory in the past.

As a hedge, Qatar hosts some 10,000 American soldiers and the forward headquarters of the U.S. military’s Central Command. Other nations also operate forces out of Qatar. Its military, numbering around 11,800 troops, is only bigger than Bahrain’s.

“They really began an effort to escape the Saudi shadow and to carve out an autonomous regional and foreign policy that would be distinct,” Ulrichsen said. “It took on much more of an edge in 2011 when they really backed different sides in the Arab Spring. Qatar obviously made a bet that Islamists and the Muslim Brotherhood would be the group to back and clearly that over time failed to pay off.”

That support sits at the heart of Bahrain, Egypt, Saudi Arabia and the UAE severing off diplomatic ties June 5 and cutting off Qatar from its land, sea and air routes. So far, Qatar has made a point of not retaliating against those nations.

Qatar’s shipborne exports of liquid natural gas have continued to travel unhindered out of the Persian Gulf as well, though they could be a target if the crisis escalates. Qatar’s biggest Asian clients are Japan, India and South Korea, according to energy research firm Wood Mackenzie. About a third of British gas supplies come from Qatar, which leads Europe.

Saad Sherida al-Kaabi, Qatar Petroleum’s president and CEO, said Saturday that he wanted to assure customers “of our determined efforts to continue uninterrupted supplies.” A statement from the state-run firm also made a point to note that the UAE, Egypt and Jordan all rely on its natural gas.

Qatar could retaliate by shutting down the undersea Dolphin Energy pipeline, which sends about 2 billion cubic feet (56 million cubic meters) of natural gas a day into the UAE, about a third of its daily need. About 200 million cubic feet (5.66 million cubic meters) of that goes onto Oman.

Dolphin Energy, owned by the Abu Dhabi sovereign wealth fund called the Mubadala Development Co., French oil giant Total SA and Houston-based Occidental Petroleum, did not respond to a request for comment.

Without that natural gas, electricity plants in Dubai and the UAE capital of Abu Dhabi wouldn’t be able to power air conditioners to beat the brutal heat of summer now descending on the desert sheikhdoms, nor run its vital desalination plants producing water. It would take time to import that gas from another source.

“If Qatar was to do anything like that, in Dubai the lights would probably go off,” said Christopher Davidson, a professor of Middle East politics at Durham University in Britain. “If this were to happen, it would be such an escalation from Qatar’s side, the UAE and Saudi would up the ante even more. … If they were to do that, I think it would be no holds barred.”

___

Follow Jon Gambrell on Twitter at www.twitter.com/jongambrellap. His work can be found at http://apne.ws/2galNpz.

Jon Gambrell, The Associated Press

Pipeline beneath Straits of Mackinac passes pressure tests

June 12, 2017June 12, 2017 by The Canadian Press

MACKINAW CITY, Mich. — Pipeline company Enbridge says an oil pipeline beneath the Straits of Mackinac in northern Michigan has passed federally required pressure tests.

The test took place Saturday on one pipeline that’s part of Line 5.

Enbridge pumped the line’s west segment with water and kept pressure high for 8 hours. Enbridge officials told reporters in a conference call Monday the line is fit for service and no leaks were found.

A second pipeline, called the east segment, will be tested soon.

The pipelines were built in 1953. Line 5 carries about 23 million gallons (19 million imperial gallons) of crude oil and liquid natural gas daily between Superior, Wisconsin, and Sarnia, Ontario. A nearly 5 mile (8 kilometre) section, divided into two lines, runs along the bottom of the straits area where Lakes Huron and Michigan converge.

The Associated Press

STEP Energy Services and NCS Multistage Break Cardium Stage Count Record with Tamarack Valley Energy

June 30, 2017June 12, 2017 by EnergyNow Media

Calgary, AB (June 12, 2017) – On March 31 STEP Energy Services (STEP) and NCS Multistage (NCS) completed a 115-stage Cardium well for Tamarack Valley Energy Ltd. (Tamarack) using NCS coil annular sleeve technology in just over 65 hours of operating time; a record number of stages in that formation. There was 1,711 tonnes of … Read more

Coalition urges banks to shun financing for Kinder Morgan’s Trans Mountain

June 12, 2017 by The Canadian Press

BURNABY, B.C. — A coalition of interest groups is calling on Canada’s six biggest banks and others to back away from providing funding for Kinder Morgan Canada’s controversial Trans Mountain pipeline expansion.

The coalition of 20 indigenous and environmental groups says in an open letter that it will use its influence to urge local and foreign governments to divest from banks that ignore its opposition to the pipeline.

It names a total of 28 banks as potential targets for its campaign, including 14 that underwrote the recent initial public offering for Kinder Morgan Canada (TSX:KML).

The 14 underwriters included all of Canada’s biggest banks as well as others from the United States, European Union and Japan.

The coalition’s letter urges the banks to decline any additional involvement with Kinder Morgan that would help to finance the Trans Mountain expansion project, particularly a $5.5 billion credit facility the company is seeking.

Among the signatories on the letter is Grand Chief Stewart Phillip, president of the Union of British Columbia Indian Chiefs, and Grand Chief Serge Simon of the Mohawk Council of Kanesatake in Quebec.

The Canadian Press

Sanjel Energy Services celebrates one-year anniversary with more than 4,500 service jobs completed safely and successfully

June 12, 2017 by The Canadian Press

FOR: SANJEL ENERGY SERVICES
Date issue: June 12, 2017Time in: 10:00 AM eAttention:
Cementing and acidizing solutions company continues to be a strong business
partner for clients
CALGARY, ALBERTA–(Marketwired – June 12, 2017) – Sanjel Energy Services…

AltaGas Ltd. Announces Monthly Dividend

June 12, 2017 by The Canadian Press

FOR: ALTAGAS LTD.TSX SYMBOL: ALADate issue: June 12, 2017Time in: 8:45 AM eAttention:
CALGARY, ALBERTA–(Marketwired – June 12, 2017) – AltaGas Ltd. (“AltaGas”)
(TSX:ALA) announced today that the June dividend will be paid on July 17, 2017,
to common …

ClearStream Announces Appointment of Interim CEO

June 12, 2017 by The Canadian Press

FOR: CLEARSTREAM ENERGY SERVICES INC.
TSX SYMBOL: CSM

Date issue: June 12, 2017
Time in: 8:30 AM e

Attention:

CALGARY, ALBERTA–(Marketwired – June 12, 2017) – ClearStream Energy Services
Inc., (“ClearStream”) (TSX:CSM) announces the resignation of its President and
CEO, John Cooper. The Company’s Executive Chairman, Dean MacDonald, will assume
the role of interim CEO. Mr. Cooper will remain on the Board and assist the
Company in ensuring a smooth transition. The ClearStream Board will immediately
initiate a process to recruit a high calibre executive to fill the position of
CEO on a permanent basis.

On behalf of the Board, Mr. MacDonald commented: “The Board is very thankful
for all the efforts that John has put into navigating the business and
establishing ClearStream as a leading services company to energy and industrial
clients across Western Canada. We believe ClearStream is now well positioned to
continue to grow its business on the solid foundation built by John and the
executive team. The Board, executive team and staff are excited about
ClearStream’s future and its prospects for growth and value creation.”

About ClearStream Energy Services Inc.

ClearStream provides maintenance and turnarounds, facilities construction,
welding and fabrication, and transportation services to customers across
Western Canada. For more information about ClearStream, please visit
www.clearstreamenergy.ca.

Forward Looking Statement

Certain information included in this presentation may constitute
forward-looking information within the meaning of securities laws. In some
cases, forward-looking information can be identified by terminology such as
“may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”,
“predict”, “potential”, “continue” or the negative of these terms or other
similar expressions concerning matters that are not historical facts.
Forward-looking information in this press release includes the expected benefit
to be derived from ClearStream from the renewal of the maintenance contract and
ClearStream’s operations in the Fort McMurray region. Such forward-looking
information reflects management’s current beliefs and is based on information
currently available to management of ClearStream.

Forward-looking information involves significant risks and uncertainties. A
number of factors could cause actual events or results to differ materially
from the events and results discussed in the forward-looking information
including risks related to Clearstream’s ability to retain a suitable candidate
as the CEO, business growth and value creation opportunities, conditions of
capital markets, economic conditions, dependence on key personnel, limited
customer bases, interest rates, regulatory change, ability to meet working
capital requirements and capital expenditures needs, factors relating to the
weather and availability of labour. These factors should not be considered
exhaustive. Risks and uncertainties about ClearStream’s business are more fully
discussed in ClearStream’s disclosure materials, including its annual
information form and MD&A, filed with the securities regulatory authorities in
Canada and available at www.sedar.com. In formulating forward-looking
information herein, management has assumed that business and economic
conditions affecting ClearStream will continue substantially in the ordinary
course, including without limitation with respect to general levels of economic
activity, regulations, taxes and interest rates.

Although the forward-looking information is based on what management of
ClearStream consider to be reasonable assumptions based on information
currently available to it, there can be no assurance that actual events or
results will be consistent with this forward-looking information, and
management’s assumptions may prove to be incorrect.

This forward-looking information is made as of the date of this release, and
ClearStream does not assume any obligation to update or revise it to reflect
new events or circumstances except as required by law. Undue reliance should
not be placed on forward-looking information. Forward-looking statements are
provided for the purpose of providing information about management’s current
expectations and plans relating to the future. Readers are cautioned that such
information may not be appropriate for other purposes.

– END RELEASE – 12/06/2017

For further information:
ClearStream Energy Services Inc.
Dean MacDonald
Executive Chairman and Interim CEO
709-237-9225
dean@tuckamore.ca
www.clearstreamenergy.ca
OR
ClearStream Energy Services Inc.
Gary Summach
Chief Financial Officer
587-318-1003
gsummach@clearstreamenergy.ca
www.clearstreamenergy.ca

COMPANY:
FOR: CLEARSTREAM ENERGY SERVICES INC.
TSX SYMBOL: CSM

INDUSTRY: Financial Services – Personal Finance, Financial Services
– Venture Capital
RELEASE ID: 20170612CC0026

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization
issuing the release, not to The Canadian Press.

Solar Alliance Updates Los Angeles and Massachusetts Expansion Progress

June 12, 2017 by The Canadian Press

FOR: SOLAR ALLIANCE ENERGY INC.TSX VENTURE Symbol: SANOTCQB Symbol: SAENFDate issue: June 12, 2017Time in: 7:00 AM eAttention:
VANCOUVER, BC –(Marketwired – June 12, 2017) – Solar Alliance Energy Inc.
(‘Solar Alliance’) or (the ‘Company’) (TSX VENTU…

OneSoft Solutions Inc. Gains DTC Eligibility to Assist Trading of Its Shares on the OTCQB Market in U.S.A.

June 12, 2017 by The Canadian Press

FOR: ONESOFT SOLUTIONS INC.
TSX VENTURE SYMBOL: OSS
OTCQB SYMBOL: OSSIF

Date issue: June 12, 2017
Time in: 7:00 AM e

Attention:

EDMONTON, ALBERTA–(Marketwired – June 12, 2017) – OneSoft Solutions Inc. (the
“Company” or “OneSoft”) (TSX VENTURE:OSS)(OTCQB:OSSIF) is pleased to announce
the Company has secured DTC Eligibility by The Depository Trust Company for its
shares on the OTCQB market effective June 7, 2017. OneSoft trades on the TSX
Venture Exchange under “OSS” and on the OTCQB(R) Venture Market (“OTCQB”),
under the symbol “OSSIF”.

The Depository Trust Company (DTC) is a subsidiary of the Depository Trust &
Clearing Corporation DTCC, and manages the electronic clearing and settlement
of the trading of shares of publicly traded companies in the USA. Securities
that are eligible to be electronically cleared and settled through the DTC are
considered “DTC eligible.” This electronic method of clearing securities speeds
up the receipt of stock and cash, and thus accelerates the settlement process
for investors and greatly reduces transactional costs for participating stock
brokerages.

Dwayne Kushniruk, CEO of OneSoft Solutions Inc., stated, “We are pleased to
announce that we have obtained DTC eligibility to simplify the trading of our
common stock in the USA. Our prime sales focus is U.S. pipeline companies and
we believe being listed and tradeable in the USA is highly complementary to our
growth and business objectives as we continue to evolve the Company. We would
like to thank our agent, VStock Transfer, for their guidance and expertise
throughout this process.”

U.S. investors can find current financial disclosure and the full depth of book
with Real-Time Level 2 Quotes for OneSoft at www.otcmarkets.com. The Company
released its Audited Financial Statements, Management’s Discussion and Analysis
and Annual Information Form for the fiscal year ending February 28, 2017 on
June 1, 2017 and those are posted to www.sedar.com in Canada and to the OTCQB
website.

About OneSoft Solutions Inc.

OneSoft Solutions Inc. has developed software technology and products that have
capability to transition legacy, on premise licensed software applications to
operate on the Microsoft Cloud, in conjunction with Office 365, CRM Online,
Microsoft BI and Microsoft Azure Machine Learning. OneSoft’s business strategy
is to seek opportunities to convert legacy business software applications that
are historically cumbersome to deploy and costly to operate, to a more
cost-efficient subscription based business model utilizing the Microsoft Cloud
platform and services, with accessibility through any internet capable device.
Visit www.onesoft.ca for more information.

About OneBridge Solutions Inc.

OneSoft’s wholly owned subsidiary, OneBridge Solutions Inc., is developing
revolutionary new applications for the Oil & Gas pipeline industry, which we
believe will be able to predict pipeline failures and thereby save lives,
protect the environment, reduce operational costs and address regulatory
compliance requirements. OneBridge utilizes proprietary Machine Learning
algorithms and a single geo-spatial database that accommodates pipe-centric,
structured and unstructured big data, with capability to address the key
functions that pipeline companies require to manage, operate and maintain their
pipelines. OneBridge’s solutions are designed to address two key areas of
functionality – Safety Management Systems and Compliance Analytics (“SMS/CA”),
and Cognitive Pipeline Integrity Management (“CIM”) solutions, all of which
will be deployed as SaaS solutions that leverage Data Science, Azure Machine
Learning, HoloLens, Microsoft BI and other components of the Microsoft Cloud
platform and services. Visit www.onebridgesolutions.com for more information.

About VStock Transfer:

VStock Transfer (http://www.VStocktransfer.com) is a New York City-based stock
transfer and registrar firm servicing clients ranging from private companies to
pre-IPO issuers to NASDAQ and NYSE MKT listed companies. VStock Transfer was
founded by experienced securities lawyers to provide cost savings, DTC
Eligibility, DWAC services, dedicated account managers and continuous Issuer
access online to shareholder reports.

About OTCQB

The OTCQB Venture Market is for entrepreneurial and development stage U.S. and
international companies. Canadian companies must be current in their home
market reporting and undergo an annual verification and management
certification process. These standards provide a strong baseline of
transparency, as well as the technology and regulation to improve the
information and trading experience for investors.

OTC Link(R) ATS directly links a diverse network of leading U.S. broker-dealers
that provide liquidity and execution services for OTCQX, OTCQB and Pink
securities. Its real-time price transparency and connectivity offers
broker-dealers control of trades and choice of counterparties so that they can
efficiently provide best execution, attract order flow, and comply with FINRA
and SEC regulations. OTC Link(R) ATS is operated by OTC Link LLC, a FINRA
member broker-dealer and wholly owned subsidiary of OTC Markets Group Inc. To
learn more about how OTC Markets Group creates better informed and more
efficient markets, visit www.otcmarkets.com.

ON BEHALF OF THE BOARD OF DIRECTORS
ONESOFT SOLUTIONS INC.
Douglas Thomson
Chair

Forward-looking Statements

This news release contains forward-looking statements relating to the future
operations and profitability of the Company and other statements that are not
historical facts. Forward-looking statements are often identified by terms such
as “may”, “should”, “anticipate”, “expects”, “believe”, “will”, “intends”,
“plans” and similar expressions. Any statements that are contained in this news
release that are not statements of historical fact may be deemed to be
forward-looking statements. Such forward-looking information is provided for
the purpose of delivering information about management’s current expectations
and plans relating to the future. Investors are cautioned that reliance on such
information may not be appropriate for other purposes, such as making
investment decisions.

In respect of the forward-looking information and statements the Company has
placed reliance on certain assumptions that it believes are reasonable at this
time, including expectations and assumptions concerning, among other things:
interest and foreign exchange rates; planned synergies, capital efficiencies
and cost-savings; applicable tax laws; the sufficiency of budgeted capital
expenditures in carrying out planned activities; the availability and cost of
labour and services; the success of growth projects; future operating costs;
that counterparties to material agreements will continue to perform in a timely
manner; that there are no unforeseen events preventing the performance of
contracts; and that there are no unforeseen material development or other costs
related to current growth projects or current operations. Accordingly, readers
should not place undue reliance on the forward-looking information contained in
this press release. Since forward-looking information addresses future events
and conditions, such information by its very nature involves inherent risks and
uncertainties. Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include, but are not
limited to the risks associated with the industries in which the Company
operates in general such as: costs and expenses; interest rate and exchange
rate fluctuations; competition; ability to access sufficient capital from
internal and external sources; and changes in legislation, including but not
limited to tax laws.

Readers are cautioned that the foregoing list of factors is not exhaustive.
Forward-looking statements contained in this news release are expressly
qualified by this cautionary statement. The forward-looking statements
contained in this news release are made as of the date of this news release,
and the Company undertakes no obligation to update publicly or to revise any of
the included forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly required by
Canadian securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

– END RELEASE – 12/06/2017

For further information:
Dwayne Kushniruk
CEO
dkushniruk@onesoft.ca
(780) 437-4950

COMPANY:
FOR: ONESOFT SOLUTIONS INC.
TSX VENTURE SYMBOL: OSS
OTCQB SYMBOL: OSSIF

INDUSTRY: Computers and Software – Software
RELEASE ID: 20170612CC0007

Press Release from Marketwired 1-866-736-3779

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