CALGARY, ALBERTA--(Marketwired - Sept. 30, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Blacksteel Energy Inc. (TSX VENTURE:BEY) (" Blacksteel " or the " Corporation ") is pleased to announce that it has entered into a definitive share purchase agreement (the " Purchase Agreement ") dated September 25, 2014 to acquire Alcan Fluid Disposal Ltd. (" Alcan "), Peace Drilling and Research Ltd. (" Peace Drilling ") and Integrated Resource Technologies Ltd. (" Integrated ") (the " Proposed Transaction "). The Transaction is considered to be a reverse take-over under the policies of the TSX Venture Exchange Inc. (" TSXV "). Completion of the Proposed Transaction will be subject to customary closing conditions, including regulatory approval and approval by Blacksteel's shareholders.

The Proposed Transaction

Under the terms of the Purchase Agreement, Blacksteel will acquire all of the issued and outstanding shares of Alcan, Peace Drilling and Integrated (collectively referred to herein as the " TargetCos ") for an aggregate purchase price of $8,480,645, subject to working capital adjustments at closing. The consideration for the Proposed Transaction consists of the issuance of 31,658,851 common shares of Blacksteel (the " Acquisition Shares ") at a deemed price of $0.15 per share, cash payment of $1,470,645 and the assumption of $2,261,172.31 in debt. The purchase price is allocated among the TargetCos as follows:

Alcan : Purchase price of $3,850,000 satisfied through the issuance of 19,000,000 Acquisition Shares and a cash payment of $1,000,000.

Peace Drilling : Purchase price of $1,170,645 satisfied through the issuance of 4,666,667 Acquisition Shares and a cash payment of $470,645; and

Integrated : Purchase price of $3,460,000 satisfied through the issuance of 7,992,184 Acquisition Shares and the assumption of secured debt of $2,261,172.31.

The acquisitions of the TargetCos are arm's length transactions. Alcan and Peace Drilling are both British Columbia incorporated companies and Integrated is an Alberta incorporated company. The principal shareholders of Alcan are Altec Inspection Holdings Ltd. (" AIH "), Karen Baker and Ron Baker, the sole shareholder of Peace Drilling is AIH and the sole shareholder of Integrated is Ken Watson. AIH is a British Columbia company owned by Baker Springing Trust, Karen Baker and Ron Baker. Karen Baker and Ron Baker are trustees of the Baker Springing Trust.

In addition, upon completion of the Proposed Transaction, Shift Capital Inc., a company wholly owned by Greg McLean, will receive a financial advisory fee of 500,000 common shares of Blacksteel (the " Common Shares ") at a deemed price of $0.15 per share.

Trading in the Blacksteel Shares is currently halted pending review of the Proposed Transaction by the TSXV. There can be no assurance that trading in Blacksteel Shares will resume prior to completion of the Proposed Transaction.

Target Companies

The TargetCos are focused on waste management, environmental services and geotechnical drilling in northeastern British Columbia and northwestern Alberta. Alcan Fluid Disposal Ltd. provides waste water processing, disposal facilities and onsite water treatment. Peace Drilling and Research Ltd. is involved in geotechnical and coring services along with soil stabilization and Integrated Resource Technologies Ltd. focuses on remediation and reclamation services. Further details on the Proposed Transaction are set forth in the Corporation's press releases of June 3, 2014 and September 4, 2014.

Private Placement

In conjunction with the Proposed Transaction, Blacksteel has entered into an engagement agreement with a syndicate of agents led by Canaccord Genuity Corp. to complete a commercially reasonable efforts private placement financing for gross proceeds of up to a minimum of $10,000,000 to a maximum of $15,000,000 (the " Offering "). The Offering consists of a private placement of equity unit subscription receipts of Blacksteel (" Equity Unit Subscription Receipts ") and convertible debenture subscription receipts of Blacksteel (" Convertible Debenture Subscription Receipts "), at a price of $0.15 per Equity Unit Subscription Receipt and $1,000 per Convertible Debenture Subscription Receipt. Further details on the Offering are set forth in the Corporation's press release of September 4, 2014.

In addition, Blacksteel is also concurrently completing a non-brokered private placement (the " Concurrent Private Placement ") of up to 10,000,000 units (the " Units ") at a price of $0.15 per Unit for gross proceeds of $1,500,000. The Concurrent Private Placement is not subject to any minimum aggregate subscription. Each Unit will consist of one Common Share and one-half of a Common Share purchase warrant (" Warrant "). Each whole Warrant shall be exercisable into one Common Share at a price of $0.25 for eighteen (18) months from the date of closing of the Concurrent Private Placement. Each Warrant is subject to accelerated expiry provisions such that if at any time after the completion of the Concurrent Private Placement the average weighted trading price of the Common Shares on the TSXV is at least $0.35 for twenty consecutive days, the Corporation may give notice to the holders that each Warrant will expire 30 days from the date of providing such notice. Please see the Corporation's press release of September 18, 2014 for full details.

Resulting Issuer

Upon completion of the Proposed Transaction, subject to regulatory approval and customary conditions, it is expected that the directors and officers of the resulting entity (the " Resulting Issuer ") will be as follows:

Ken Watson, President, Chief Executive Officer and Director

Mr. Watson has 29 years of experience providing environmental services to the oil and gas and other industries, including, but not limited to: liquid treatment and processing; remediation of impacted soils including train derailment clean-up; operation of municipal landfills and rural transfer stations; negotiations with First Nations, government agencies and energy producers relevant to permitting hazardous treatment facilities and secure landfill sites; and environmental and geotechnical drilling.

He is a Co-Founder and President, Chief Executive Officer and Director of Integrated Resource Technologies Ltd. and President and a Director of Peace Drilling & Research Ltd. Mr. Watson also co-founded Complete Environmental Inc. (" Complete "), which purchased Babkirk Land Services Inc. in 2009. He was a key player in Complete obtaining the operational permit for a secure hazardous landfill and hazardous treatment facility. Complete was sold in 2011 to Tervita Corporation.

Greg McLean, Vice-President Finance and Chief Financial Officer

Mr. McLean is currently an Associate Portfolio Manager with Qwest Investment Funds and an independent financial consultant. He was most recently Director of Investments for a family trust encompassing assets of $1.4 billion and Executive Vice-President, Investments for Cavendish Investing Ltd. Mr. McLean had previously founded a private investment boutique focused on financings, M&A, structured buy-outs and private equity transactions and has nine years of investment banking experience with Wolverton Securities, Octagon Capital, Canadian Western Capital and First Marathon Securities.

Mr. McLean holds a Bachelor of Commerce degree from the University of Alberta and a Masters in Business Administration degree from the Ivey School of Business.

Eugene Chen, Corporate Secretary and Director

Mr. Chen leads the Capital Markets group in the Calgary office of the national law firm McMillan LLP. He has over twenty years of experience in advising emerging and growth oriented companies on corporate finance, mergers and acquisitions, and securities matters. Mr. Chen has acted for numerous oilfield service companies and provided advice on corporate and transactional structure, capital financing and corporate governance. He is a director of numerous private and public companies.

Mr. Chen holds a Bachelor of Science degree from the University of Alberta and a Bachelor of Laws degree from the University of British Columbia. He is a member of the Law Society of Alberta.

Ron Baker, P. Eng., Director

Mr. Baker is a professional engineer with over 45 years of experience in the oil and gas industry. He has been the President of Altec Inspection Ltd. since 1976, an engineering consulting company involved in all aspects of pipeline construction, inspection and management, including but not limited to project management, structural evaluation and inspection, cost forecasting and foundation design. He is also a director of Macro Enterprises Inc., a TSXV listed company involved in pipeline and facilities construction and maintenance services to entities in the oil and gas industry.

Mr. Baker is a past technical advisor to the Oil and Gas Commission of British Columbia (" OGC ") and a member of committees on the Oil and Gas Standards of the CSA (Z184 (Pressure Testing) and Z184 (Design Stress Group)). From 2005-2010, he was the Chair of PAG (Practice Advisory Group), an industry liaison committee to the OGC.

Mr. Baker has a Bachelor of Science (Chemistry) degree from the University of Calgary and a Bachelor of Science in Engineering (Metallurgical) from the University of Alberta. He is a member of the British Columbia Association of Professional Engineers and Geoscientists.

Chris Scase, CGA, Director

Mr. Scase is an accounting professional with almost twenty years of industry and public accounting experience. He is currently Vice-President, Finance and Chief Financial Officer at Camber Resource Services Ltd., a company which provides production chemicals to the oil and gas industry. Mr. Scase was previously Vice-President and Chief Financial Officer of Ceiba Energy Services Inc., a TSXV listed oilfield services company. Prior to this, he was the Calgary Managing Partner of Scase and Partners Professional Accountants. Mr. Scase has acted as a director, officer and controller for a number of private companies, including being the Chief Financial Officer for a group of private companies engaged in oil and gas exploration in the Western Canada sedimentary basin.

Mr. Scase has a Bachelor of Commerce degree from the University of Calgary and is a Certified General Accountant.

Stuart O'Connor, Director

Mr. O'Connor is currently the President of Timber Ridge Capital Ltd., a private investment and holding company as well as an officer and/or director of various other companies including Fitzroy Developments Ltd., a private real estate company and Arcurve Inc., a private international software development company. He is the former Chairman of the Board of Flint Energy Services Ltd., a public oilfield service company, which was sold to URS Corporation in a $1.25 billion transaction; and a former Director of IROC Energy Services Corp., a public oilfield services company. In addition, Mr. O'Connor has been a founding partner in various other enterprises including a private oil and gas company, a financing company and a real estate company. Mr. O'Connor was also the Chief Executive Officer and President of Merak Projects Ltd., a software developer focused on the international oil and gas industry and a former Partner with Bennett Jones LLP, a national law firm, practicing corporate and securities law.

Mr. O'Connor holds a Bachelor of Science (Chemical Engineering) degree from the University of Calgary and a Bachelor of Laws degree from Queen's University.

Warrant Extension

Blacksteel is also pleased to announce that it has received conditional approval from the TSXV to extend the expiry term of 5,120,910 Common Share purchase warrants (the " Existing Warrants ") issued as part of its 2013 financing. This amendment represents the second amendment made to the Existing Warrants.

The original expiry date of the Existing Warrants was July 31, 2014 at 5:00 p.m. (Calgary time), which date was extended to September 30, 2014 (the " Amended Expiry Date ") on July 30, 2014. All of the Existing Warrants entitle the holder to purchase one Common Share at an exercise price of $0.20 per share.

The Amended Expiry Date is being extended to November 30, 2014 at 5:00 p.m. (Calgary time). All other terms and conditions of the Existing Warrants remain unchanged. The Corporation will deliver a Notice of Amendment reflecting the amended expiry date to the registered holders of the respective Existing Warrants.

Significant Conditions to Completion of the Proposed Transaction

Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to: (a) TSXV acceptance; (b) Blacksteel Shareholder approval; and (c) completion of the Offering for gross proceeds of not less than $10,000,000.

The Proposed Transaction cannot close until the required shareholder approvals are obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Blacksteel Energy Inc. should be considered highly speculative.

Blacksteel Energy Inc.

Blacksteel is a junior oil and gas company involved in the exploration, exploitation, development and production of petroleum and natural gas resources. The Corporation has a 100% working interest in a four section petroleum and natural gas lease in the Del Bonita Area of Southern Alberta, which it believes may have Bakken potential. It also has a 25% working interest in one section of land in the Crossfield area, which the Corporation believes is oil prospective in the Elkton formation.

This news release contains forward-looking statements relating to the Proposed Transaction, including statements regarding the anticipated acquisition of the TargetCos, the anticipated election of directors for the Resulting Issuer, the completion of the Private Placement, the receipt of all necessary regulatory and shareholder approvals and satisfaction of all other closing conditions in connection with the Proposed Transaction and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things: the risk that the Proposed Transaction will not be completed if a formal agreement is not reached or that the necessary approvals and/or exemptions are not obtained or some other condition to the closing of the Proposed Transaction is not satisfied; the risk that closing of the Proposed Transaction could be delayed if the TargetCos are not able to obtain the necessary approvals on the timelines planned; the risk that the Offering does not close or that the gross proceeds are not at least $10,000,000; investor interest in the business; and future prospects of Blacksteel and the TargetCos.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, Blacksteel, Alcan, Peace Drilling and Integrated disclaim any intention and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Blacksteel, Alcan, Peace Drilling and Integrated undertake no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

Neither 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

Blacksteel Energy Inc.
Eugene Chen
Director
(403) 231-8389
[email protected]

TSX Symbol - PSD
OTCQX - PLSDF

CALGARY , Sept. 30, 2014 /CNW/ - Pulse Seismic Inc. ("Pulse" or "the Company") announces it has signed a $10.3 million seismic data licensing agreement, resulting in total seismic data library sales of $14.5 million for the third quarter. This sale brings year-to-date seismic data library sales to approximately $27.4 million , compared to 2013 full-year seismic data library sales of $27.1 million .

The licensed data is located in the Kakwa area in the Deep Basin of west central Alberta .

"Although the seismic data library business continues to face a challenging environment, Pulse's low fixed cost business model, results in the generation of substantial shareholder free cash flow. The significant cash margin associated with a deal of this magnitude contributes greatly to improving our financial position," stated Neal Coleman , Pulse's President and CEO. "By maintaining a strong balance sheet and prudently investing in the growth of Pulse's seismic data library, we continue to provide ongoing value to both our customers and our shareholders," he added.

The financial information contained in this news release is based on management's estimates and has not yet been approved by the Company's Audit Committee or Board of Directors or reviewed by the Company's auditors.

On November 7, 2014 the Company anticipates releasing full financial statements and related information for the three and nine months ended September 30, 2014 .

CORPORATE PROFILE

Pulse is a market leader in the acquisition, marketing and licensing of 2D and 3D seismic data to the western Canadian energy sector. Pulse owns the second-largest licensable seismic data library in Canada , currently consisting of approximately 28,300 net square kilometres of 3D seismic and 340,000 net kilometres of 2D seismic. The library extensively covers the Western Canada Sedimentary Basin where most of Canada's oil and natural gas exploration and development occurs.

SOURCE Pulse Seismic Inc.

CALGARY, ALBERTA--(Marketwired - Sept. 30, 2014) - Bonavista Energy Corporation ("Bonavista") (TSX:BNP) would like to announce the following changes to our management team:

  • Mr. Bruce Jensen has been promoted to the position of Chief Operating Officer effective October 1 st , 2014. Mr. Jensen is a Professional Engineer and has over 30 years of energy industry experience. Bruce joined Bonavista as a Senior Development Engineer in 2002 and since that time has continued to take on roles with increasing responsibilities culminating in his appointment, in January 2011, to his current role as Vice President, Engineering.
  • Mr. Colin Ranger has been promoted to the position of Vice President, Production effective October 1 st , 2014. Mr. Ranger holds a Bachelor of Science degree and has 14 years of energy industry experience. Colin joined Bonavista in 2005 and was promoted to Production Manager in 2011.
  • Mr. Scott Hanson has resigned as Vice President, Production.

"On behalf of the Board of Directors and management of Bonavista I would like to thank Scott for his service and commitment over the past 12 years and wish him all the best in his future endeavors," stated Jason Skehar, President and Chief Executive Officer. "The appointments of Bruce and Colin display the depth of our leadership team and our confidence in our succession program. I look forward to working with them in their new capacities."

Bonavista is a mid-sized energy corporation committed to prudently operating high quality oil and natural gas properties and providing consistent returns to our shareholders while ensuring financial strength and sustainability.

Bonavista Energy Corporation
Jason E. Skehar
President & CEO
(403) 213-4300

Glenn A. Hamilton
Senior Vice President & CFO
(403) 213-4300

Berk Sumen
Manager, Investor Relations
(403) 213-4300
www.bonavistaenergy.com

First major maintenance turnaround completed with no lost-time safety incidents

CALGARY , Sept. 30, 2014 /CNW/ - Imperial Oil Limited today announced the completion of a major planned maintenance turnaround at its Kearl facilities.

"We would like to wholeheartedly congratulate and thank our contractors and employees for completing this major turnaround without a lost-time safety incident," said John Whelan , Imperial Production Manager, Mining. "This was our first major planned maintenance turnaround event that included preventative maintenance to the ore preparation plant, hydrotransport, extraction and solvent recovery systems, along with modifications to froth treatment instrumentation and control valve upgrades focused on enhancing reliability."

Whelan added that special recognition goes to the following contractors, who worked incident free: Acuren Group Inc., AITF (Alberta Innovates - Technology Futures), ALE Role-Lift Canada, Birch Mountain Enterprises Ltd., Bula Enterprises, CEDA International Corporation, Clean Harbors Canada, Clearwater Energy Services LP, Fluor Driver, FT Services, HSE Integrated Ltd., Koch-Glitsch, Motion Industries ( Canada ) Inc., Prime Boiler Services, Roberts Mechanical Services, Safway Services Canada, Sterling Crane , Weir Services Edmonton, and Willbros Construction Services Canada LP.

The turnaround, during which the Kearl facility was off-line, was executed over the last two full weeks of September. The turnaround involved a total of 150,000 hours worked.

After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada's energy resources. As Canada's largest petroleum refiner, a major producer of crude oil and natural gas, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.

SOURCE Imperial Oil Limited

CALGARY, ALBERTA--(Marketwired - Sept. 30, 2014) - Crew Energy Inc. (TSX:CR) ("Crew" or the "Company") is pleased to announce that it has closed its previously announced disposition of its petroleum and natural gas assets in the Princess area of Southeast Alberta, with an effective date of August 1, 2014 (the "Princess Disposition"). Full details regarding the Princess Disposition and the Company's expanded focus on Montney development were contained in Crew's press release dated August 28, 2014.

Consideration for the Princess Disposition totaled approximately $150 million in cash, before closing adjustments, which provides Crew with an additional and non-dilutive source of funding to continue the acceleration of its five year Montney growth plan.

Crew Energy Inc. is a growth-oriented oil and natural gas producer, primarily focused in the vast Montney resource situated in northeast British Columbia. Crew's common shares trade on Toronto Stock Exchange ('TSX') under ticker 'CR'. For further information, please visit the Company's website at www.crewenergy.com .

Crew Energy Inc.
Dale Shwed
President and C.E.O.
(403) 231-8850
[email protected]

Crew Energy Inc.
John Leach
Senior Vice President and C.F.O.
(403) 231-8859
[email protected]

Crew Energy Inc.
Rob Morgan
Senior Vice President and C.O.O.
(403) 513-9628
[email protected]
www.crewenergy.com

CALGARY, ALBERTA--(Marketwired - Sept. 30, 2014) - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX:CPG) (NYSE:CPG) is pleased to report that the previously announced agreement to acquire certain assets from Lightstream Resources Ltd. closed today. As a result, Crescent Point has acquired high-netback, low decline, conventional oil production of approximately 3,300 boe/d and 76 net sections of land that are contiguous with Crescent Point's existing land base in southeast Saskatchewan and Manitoba. The Company also acquired an additional 44 net sections of undeveloped fee title land, much of which is located in an exciting new fairway that the Company believes holds significant exploratory potential.

Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. The Company has tried to identify such forward-looking statements by use of such words as "expected", "look forward to" and other similar expressions, but these words are not the exclusive means of identifying such statements.

In particular, this press release contains forward-looking statements pertaining to the exploratory potential of the lands acquired from Lightstream.

All forward-looking statements are based on Crescent Point's beliefs and assumptions based on information available at the time the assumption was made. Crescent Point believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this report should not be unduly relied upon. By their nature, such forward-looking statements are subject to a number of risks, uncertainties and assumptions, which could cause actual results or other expectations to differ materially from those anticipated, expressed or implied by such statements, including those material risks discussed in our annual information form under "Risk Factors" and our Management's Discussion and Analysis for the year ended December 31, 2013, under the headings "Risk Factors" and "Forward-Looking Information."

Barrels of oil equivalent ("boes") may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Additional information on these and other factors that could affect Crescent Point's operations or financial results are included in Crescent Point's reports on file with Canadian and U.S. securities regulatory authorities.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed herein or otherwise and Crescent Point undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required to do so pursuant to applicable law. All subsequent forward-looking statements, whether written or oral, attributable to Crescent Point or persons acting on the Company's behalf are expressly qualified in their entirety by these cautionary statements.

Crescent Point is one of Canada's largest light and medium oil producers, with an annual dividend of CDN$2.76 per share.

CRESCENT POINT ENERGY CORP.

Scott Saxberg, President and Chief Executive Officer

Crescent Point shares are traded on the Toronto Stock Exchange and New York Stock Exchange, both under the symbol CPG.

Crescent Point Energy Corp.
Greg Tisdale
Chief Financial Officer
(403) 693-0020 or Toll free (US & Canada): 888-693-0020
(403) 693-0070 (FAX)

Crescent Point Energy Corp.
Trent Stangl
Vice President Marketing and Investor Relations
(403) 693-0020 or Toll free (US & Canada): 888-693-0020
(403) 693-0070 (FAX)
www.crescentpointenergy.com

CALGARY , Sept. 30, 2014 /CNW/ - Whitecap Resources Inc. ("Whitecap") (TSX: WCP) is pleased to announce that 43,155,087 common shares of Forge Petroleum Corporation ("Forge Shares"), representing over 99% of the issued and outstanding Forge Shares, have been validly tendered pursuant to Whitecap's offer to purchase (the "Offer") all of the issued and outstanding Forge Shares.  Whitecap has directed the depositary, Olympia Trust Company (the "Depositary"), to take up and pay for all of the Forge Shares deposited under the Offer on October 1, 2014.   Under the Offer, holders of Forge Shares are entitled to receive approximately $3.5812 per Forge Share in cash for each Forge Share tendered to the Offer and, on or about December 30, 2014 , may receive up to an additional $0.0688 per Forge Share. This additional amount is subject to reduction in certain cases as more fully described in the takeover bid circular mailed to holders of Forge Shares in connection with the Offer.

As the Offer was accepted by holders of greater than 90% of the outstanding Forge Shares, Whitecap will take steps to acquire the remainder of the Forge Shares pursuant to the compulsory acquisition provisions contained in the Business Corporations Act ( Alberta ).

In addition, Whitecap's acquisition of all of the outstanding shares of Bashaw Oil Ltd. is expected to be completed on October 1, 2014 .

Note Regarding Forward Looking Statements

This press release contains forward‐looking statements and forward‐looking information (collectively " forward‐looking information ") within the meaning of applicable securities laws with respect to the Offer, including the timing of the take-up of and payment for the Forge Shares; the completion of the compulsory acquisition; the size and timing of the additional payment, if any, and the completion of the acquisition of Bashaw Oil Ltd. Readers are cautioned that the foregoing list of factors should not be construed as exhaustive. Forward‐looking information typically uses words such as "anticipate", "believe", "project", "expect", "goal", "plan", "intend" or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future. The forward‐looking information is based on certain key expectations and assumptions made by Whitecap's management. Although Whitecap believes that the expectations represented in such forward‐looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward‐looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward‐looking information will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom.

Readers are cautioned that the foregoing list is not exhaustive. Additional information on these and other factors that could affect our operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website ( www.sedar.com ). These forward‐looking statements are made as of the date of this press release and Whitecap disclaims any intent or obligation to update publicly any forward‐looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Whitecap Resources Inc.

CALGARY, ALBERTA--(Marketwired - Sept. 30, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINTATION IN THE UNITED STATES

Tamarack Valley Energy Ltd. (" Tamarack " or the " Company ") (TSX VENTURE:TVE) is pleased to announce that it has, through its wholly-owned subsidiary, successfully completed its previously announced acquisition of 100% of Suncor Energy's interests in the Wilson Creek area of Alberta (the " Acquisition ") for an aggregate purchase price of $168.5 million, prior to closing adjustments. The Acquisition is highly accretive to Tamarack and further bolsters the Company's strategic Cardium focused land position in the Wilson Creek area where the Company has achieved some of the highest production rates. As a result of the Acquisition and as previously disclosed on September 3, 2014, Tamarack has increased its 2014 estimated exit production guidance by approximately 30% to 9,500 boe/d (approximately 60% oil & NGLs) from 7,300 to 7,500 boe/d.

The purchase price for the Acquisition was financed, in part, by Tamarack's recently increased credit facilities and the net proceeds of the previously announced public offering of 16,100,000 subscription receipts of the Company (the " Subscription Receipts ") completed by the Company on September 26, 2014 for gross proceeds of $115,115,000. In accordance with their terms, each Subscription Receipt was deemed to be exchanged for one common share of the Company (" Common Share ") on September 30, 2014 upon the closing of the Acquisition. The Subscription Receipts will be delisted from the TSX Venture Exchange (the " TSXV ") and the Common Shares issued on the exchange of the Subscription Receipts will commence trading on the TSXV in the next few days.

Immediately prior to the closing of the Acquisition, the Corporation increased its existing credit facilities from $110 million to $150 million (the " Increased Facilities "). The Increased Facilities are secured by a $300 million demand debenture with a floating charge over all of the assets of the Company and each of its subsidiaries.

This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

Preliminary 2015 Guidance

Although Tamarack has not finalized its 2015 capital budget, the Company anticipates that the Wilson Creek asset will be able to generate free cash flow by the third quarter of 2015, enabling Tamarack to further accelerate drilling on the Cardium farm-in opportunity it entered into in August of 2013.

As disclosed on September 3, 2014, Tamarack is pleased to announce preliminary 2015 guidance as follows:

  • 2015 capital expenditure budget of approximately $170 to $180 million.
  • 2015 estimated average production rate of between 11,500 to 12,000 boe/d (approximately
    55-60% oil & NGLs).
  • 2015 estimated exit production rate of between 14,000 to 14,500 boe/d (approximately 55-60% oil & NGLs).
  • 2015 estimated cash flow from operations of between $140 to $150 million, assuming a 2015 Edmonton par price average of $89.00/bbl and AECO price average of $3.57/GJ.
  • Estimated 2015 year end debt to annualized fourth quarter 2015 funds flow from operations of approximately 1.0x.

Tamarack intends to bring on two to three rigs in the Wilson Creek area and spud 6 to 8 net 1-mile horizontal Cardium oil wells by year end 2014.

Tamarack expects to finalize its 2015 budget by the end of November, 2014.

About Tamarack Valley Energy Ltd.

Tamarack is an oil and gas exploration and production company committed to long-term growth and the increased identification, evaluation and operation of resource plays in the Western Canadian sedimentary basin. Tamarack's strategic direction is focused on two key principles - targeting resource plays that provide long-life reserves, and using a rigorous, proven modeling process to carefully manage risk and identify opportunities. The Company has an extensive inventory of low-risk development oil locations in the Redwater Viking play. While continuing to build on its sustainable growth platform, Tamarack also increased its low-risk development locations within the Cardium fairway through a farm-in agreement with an industry major and recently completed acquisition in Wilson Creek. These endeavors add to Tamarack's strong resource portfolio, including Cardium properties at Lochend, Garrington and Buck Lake and heavy oil properties in Saskatchewan. With a balanced portfolio, and an experienced and committed management team, Tamarack intends to continue to deliver on its promise to increase its production and maximize shareholder return.

In April 2014, Tamarack was honored as one of the TSX Venture 50. The TSX Venture 50 is a ranking of the strongest performing TSX-V companies in 2013 and is assessed on the basis of a combination of share price appreciation, trading volumes, change in market capitalization and analyst coverage. The index is comprised of ten companies from each of five sectors: Clean Technology, Oil and Gas, Diversified Industries, Mining, and Technology & Life Sciences.

Abbreviations

bbl barrel
boe/d barrels of oil equivalent per day
NGL natural gas liquids

Unit Cost Calculation

For the purpose of calculating unit costs, natural gas volumes have been converted to a barrel of oil equivalent ("boe") using six thousand cubic feet equal to one barrel unless otherwise stated. Boe's may be misleading, particularly if used in isolation. A boe conversion ratio of 6:1 is based upon an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. This conversion conforms with Canadian Securities Regulators' National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities.

Forward-Looking Information

This press release contains certain forward-looking information (collectively referred to herein as " forward-looking statements ") within the meaning of applicable Canadian securities laws. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "potential", "intend", "objective", "continuous", "ongoing", "encouraging", "estimate", "expect", "may", "will", "project", "should", or similar words suggesting future outcomes. More particularly, this press release contains statements concerning Tamarack's future drilling plans and operations, estimated exit production rate in 2014, estimated 2015 capital expenditure budget, estimated average and exit 2015 production rates and anticipated listing of the Common Shares and de-listing of the Subscription Receipts on the TSXV. The forward-looking statements contained in this documents are based on certain key expectations and assumptions made by Tamarack relating to the anticipated benefits of the Acquisition, prevailing commodity prices, the availability of drilling rigs and other oilfield services, the timing of past operations and activities in the planned areas of focus, the drilling, completion and tie-in of wells being completed as planned, the performance of new and existing wells, the application of existing drilling and fracturing techniques, the continued availability of capital and skilled personnel, the ability to increase the banking facilities and the accuracy of Tamarack's geological interpretation of its drilling and land opportunities. Although management considers these assumptions to be reasonable based on information currently available to it, undue reliance should not be placed on the forward-looking statements because Tamarack can give no assurances that they may prove to be correct.

Also included in this press release are estimates of Tamarack's 2015 cash flow from operations and 2015 year end debt to annualized fourth quarter of 2015 cash flow from operations, which are based on the assumptions as to production levels, capital expenditures and commodity pricing disclosed in this press release. To the extent that such estimates constitute a financial outlook within the meaning of applicable securities laws, they were approved by management of Tamarack on September 30, 2014 and are included to provide readers with an understanding of Tamarack's anticipated cash flow based on the capital expenditure and other assumptions described herein. Readers are cautioned that the information may not be appropriate for other purposes. The actual results of Tamarack will likely vary from the amounts set forth in the financial outlook and such variation may be material.

By their very nature, forward-looking statements are subject to certain risks and uncertainties (both general and specific) that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures); commodity prices; the uncertainty of estimates and projections relating to production, cash generation, costs and expenses; health, safety, litigation and environmental risks; and access to capital. Due to the nature of the oil and natural gas industry, drilling plans and operational activities may be delayed or modified to react to market conditions, results of past operations, regulatory approvals or availability of services causing results to be delayed. Please refer to Tamarack's Annual Information Form ("AIF") dated March 13, 2014 for additional risk factors relating to Tamarack. The AIF is available for viewing under the Company's profile on www.sedar.com .

The forward-looking statements contained in this press release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

Neither 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.

Tamarack Valley Energy Ltd.
Brian Schmidt
President & CEO
403.263.4440

Tamarack Valley Energy Ltd.
Ron Hozjan
VP Finance & CFO
403.263.4440
www.tamarackvalley.ca

ST. ALBERT, ALBERTA--(Marketwired - Sept. 30, 2014) - Enterprise Group, Inc. ("Enterprise," or the "Company") (TSX:E) is pleased to announce that the Company has completed the $20.0 million in capital expenditures intended for 2014. All equipment purchased via the capital program has now been received and deployed.

"We are very pleased at both the conclusion of our capital program for 2014 and the resulting increase in Enterprise's operating capacity," stated Leonard Jaroszuk, the Company's President and Chief Executive Officer. "We anticipate that we will require the entirety of this expanded operating capacity over the coming year. We have consistently stated that the benefits of our capital purchases would be most evident during the second half of 2014 and into 2015. We look forward to demonstrating their impact on our results."

Update on Fort St. John Acquisition

Enterprise is providing an update to its acquisition in Fort St. John, this acquisition is expected to close on October 10, 2014.

The final purchase price for the acquisition will be $13.5 million, equivalent to roughly a 3.3 multiple of EBITDA based on the acquisition target's most recent trailing twelve month audited financial statements period ending August 30, 2014. Enterprise has committed $3.0 million towards purchasing equipment intended to improve the acquisition target's fleet for 2015. The purchase price will be satisfied through a combination of Enterprise shares, cash, existing credit facilities and vendor take-back financing.

About Enterprise Group, Inc.

Enterprise Group, Inc. is a consolidator of construction services companies operating in the energy, utility and transportation infrastructure industries. The Company's focus is primarily construction services and specialized equipment rental. The Company's strategy is to acquire complementary service companies in Western Canada, consolidating capital, management, and human resources to support continued growth. Enterprise acquired of Artic Therm International Ltd. in September 2012, Calgary Tunnelling & Horizontal Augering Ltd. in June 2013, and Hart Oilfield Rentals in January 2014.

Forward-Looking Information

Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or the Company's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The Company's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website www.sedar.com ) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

Candace Williams or
Nathan Sellyn
of Assembly Stakeholder Relations
PH: 780-328-3863

Leonard D. Jaroszuk - President & CEO, or
Desmond O'Kell - Senior Vice President
PH: 780-418-4400
E: [email protected]
Web: www.EnterpriseGRP.ca

TSX, NYSE MKT: BXE

CALGARY , Sept. 30, 2014 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) is pleased to announce that based upon the success of the first joint venture with Grafton Energy Co I Ltd. ("Grafton Fund 1"), Bellatrix has entered into a new multi-year joint venture arrangement with Canadian Non-Operated Resources Corp. ("CNOR"), a non-operated oil and gas company managed by Grafton Asset Management Inc. pursuant to which CNOR has committed $250 million in capital towards future accelerated development of a portion of Bellatrix's extensive undeveloped land holdings. Between Grafton Fund 1 and CNOR, a total of $500 million has now been committed to the development of Bellatrix's lands.

Under the terms of the agreement, CNOR will pay 50% of the drilling, completion, equipping and tie-in capital expenditures associated with development plans to be proposed by Bellatrix and approved by a management committee comprised of representatives of Bellatrix and CNOR in order to earn 33% of Bellatrix's working interest before payout and automatically converting to a 10.67% gross overriding royalty on Bellatrix's pre-joint venture working interest after payout (being recovery of CNOR's capital investment plus an 8% return on investment). The joint venture funding is available immediately; however, Bellatrix expects the funds to be spent primarily from 2016 through 2018.

Bellatrix Exploration Ltd. is a Western Canadian based growth oriented oil and gas company engaged in the exploration for, and the acquisition, development and production of oil and natural gas reserves in the provinces of Alberta , British Columbia and Saskatchewan .  Common shares of Bellatrix trade on the Toronto Stock Exchange ("TSX") and on the NYSE MKT under the symbol BXE.

Canadian Non-Operated Resources Corp. is a newly formed, Calgary -based oil and gas company, focused on partnerships with top tier operators to develop oil and gas assets in the Western Canadian Sedimentary Basin. CNOR seeks to provide non-operated partner capital due to the vast and growing capital requirements inherent to full-scale development of unconventional resources. CNOR is led by Richard Grafton , Founder and Chief Executive Officer of Grafton Asset Management Inc.

Grafton Asset Management Inc. is a Calgary based energy investment firm.

For all CNOR or Grafton Asset Management Inc. inquiries please direct your questions to Ashley Vickers , Investor Relations ( [email protected] , 403-991-4274 or 403-228-8247).

All amounts in this press release are in Canadian dollars unless otherwise identified.

Forward looking statements: Certain information set forth in this news release, including management's assessments of the future plans and operations, the future development of Bellatrix' lands, the costs associated therewith, and the source of funds therefor, and the expected timing of the expenditure of funds under the new joint venture agreement may contain forward-looking statements, and necessarily involve risks and uncertainties, certain of which are beyond Bellatrix's control, including the risk that the management committee under the joint venture does not approve future capital expenditures, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets and other economic and industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling services, incorrect assessment of value of acquisitions and failure to realize the benefits therefrom, delays resulting from or inability to obtain required regulatory approvals, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources and economic or industry condition changes. Actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Bellatrix will derive therefrom. To the extent such estimates constitute a financial outlook, they were approved by management on date hereof and are included herein to provide readers with an understanding of management's expectations and assumptions about future activities and results and readers are cautioned that the information may not be appropriate for other purposes. Additional information on these and other factors that could affect Bellatrix are included in reports on file with Canadian securities regulatory authorities and the United States Securities and Exchange Commission and may be accessed through the SEDAR website ( www.sedar.com ), the SEC's website ( www.sec.gov ) or at Bellatrix's website www.bellatrixexploration.com .  The forward looking statements contained in this press release are made as of the date hereof and Bellatrix undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE Bellatrix Exploration Ltd.