Bow Valley finds new partner for controversial project
Article Abstract:
Bow Valley Energy Ltd. of Calgary, Alberta, said it will proceed with a controversial Iranian oil field project with a new partner, Premier Oil PLC of the UK. Premier Oil replaces Indonesian-based Bakrie Minarak Petroleum Co. Ltd., which backed out in January 1998 because of the Asian financial crisis. Bow Valley's announcement, meanwhile, prompted a US State Department spokesman to say that the US government will again investigate the project. The Iran-Libya Sanctions Act prescribes sanctions against US and foreign companies investing in Iran's energy sector.
Comment:
Agrees to be the partner of Bow Valley Energy in a controversial Iranian oil field project
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Canadian 88 investors get Prize dividend
Article Abstract:
Natural gas company Canadian 88 Energy Inc has spun out its 45.3% interest in junior company Prize Energy Inc of Calgary, Alberta, to shareholders as dividend. Under the deal, shareholders of Canadian 88 will get one share of Prize Energy for each 5.1 shares held, translating to a dividend of 7.6 cents per share. Canadian 88 will distribute the shares on Oct 1, 1999, to shareholders of record Sep 24.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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Ranger Oil plans asset sale to reduce debt, layoffs revealed
Article Abstract:
Ranger Oil Ltd is selling as much as $200 million of its assets to cut down on debt and foresees a possible $230 million writedown if oil prices do not recover. The Calgary, Alberta-based senior oil company has also reduced staff by 15% and removed five vice presidents for 1999. The writedown will cover the heavy oil assets Ranger gained following the 1997 acquisition of Elan Energy Inc.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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