CALGARY, ALBERTA--(Marketwired - Oct. 31, 2014) - Gordon Creek Energy Inc. ( TSX VENTURE:GDN ) (the "Company") today provided an update regarding its ongoing efforts to secure a long term financing solution for the development of the Gordon Creek natural gas field. The Company is continuing to work with Houston Merchant Advisory Partners ("HMEP") as a strategic advisor to assist with the evaluation and sourcing of various financing alternatives as announced August 22, 2014. Follow up discussions are ongoing with a number of interested parties introduced by HMEP to date, and marketing efforts are continuing.

The Company is also at an advanced stage of negotiations to secure a $2.5 to $3.0 million bridge loan facility that will be focused on re-working and re-activating up to 14 previously drilled development wells in order to increase cash flows and reserves. Further details of the bridge loan facility will be provided upon the completion of negotiations.

The Company will not be redeeming the $10 million 15% Gas Linked Debenture issue, currently due October 31, 2014 until a re-capitalization financing has been completed. Until redemption occurs, the Company intends to continue the present policy of paying the 50% quarterly interest payment in common shares of the Company, and suspending and accruing the 50% cash portion of the quarterly interest payments. The next quarterly share interest payment will be made mid-November.

Gordon Creek Energy Inc. is an oil and gas exploration and production Company with interests in the US Rockies.


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

Caution Regarding Forward-Looking Information

Information in this news release, including information respecting the Company's financing and capitalization plans, constitute forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, expectations, or beliefs as to future events or results are believed to be reasonable based on the information currently available to the Company. The Company does not undertake to update any such forward-looking statements unless required by applicable securities legislation. Statements including forward-looking information involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company and its operations to be materially different from estimated costs or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

Rupert Evans
President & CEO
734 7th Avenue S.W.
Suite 1350, Calgary Alberta T2P 3P8
Tel: 403-453-1608
Email: [email protected]

John Bell
734 7th Avenue S.W.
Suite 1350, Calgary Alberta T2P 3P8
Tel: 403-453-1608
Email: [email protected]

CALGARY, ALBERTA--(Marketwired - Oct. 31, 2014) - GASFRAC Energy Services Inc. ("GASFRAC") ( TSX:GFS ) intends to release its third quarter 2014 results on November 14, 2014 before market opening.

The Company will host a conference call on November 14, 2014 at 9:00 a.m. MT (11:00 a.m. ET) to discuss the Company's results for the third quarter of 2014.

To listen to the webcast of the conference call, please enter in your web browser or visit the Investor Information section of our website .

To participate in the Q&A session, please call the conference call operator at 1-800-769-8320 or 1-416-340-8530 and ask for "GASFRAC Third Quarter Results Conference Call".

A replay of the call will be available until November 21, 2014 by dialing 1-800-408-3053 (North America) or 1-905-694-9451 (outside North America). Playback passcode: 2559546. The Company will also archive the conference on its website at .

GASFRAC is an innovative North American based well-fracturing Company headquartered in Calgary, Alberta. GASFRAC is the sole provider of fracturing services utilizing gelled LPG fracturing technology. In addition, GASFRAC has expanded its fluid offering to include conventional fluids, in addition to a complete range of energized and waterless fluid solutions. GASFRAC offers a full complement of fracturing services and consulting expertise, while focusing on providing innovative fracturing solutions for our clients.

GASFRAC Energy Services Inc.
Lori McLeod-Hill
Chief Financial Officer
[email protected]


CALGARY , Oct. 31, 2014 /CNW/ - Palliser Oil & Gas Corporation (" Palliser " or the " Company ") (TSX VENTURE: PXL) announces that the proposed amalgamation of the Company and Maha Energy Inc. (" Maha ") pursuant to an amalgamation agreement between the Company and Maha dated July 30, 2014 (the " Amalgamation Agreement "), as described in the Company's press release of July 30, 2014, will be modified and delayed.

In particular, the proposed bond financing by Maha will not be advanced at present.  Negotiations are underway amongst Maha, Palliser and Palliser's lender to modify and extend the terms of the existing credit facilities in order to complete the proposed amalgamation.  Maha is also reviewing the opportunities for equity financing and looking to advance a private placement share issuance along the lines proposed in the Amalgamation Agreement as a condition of closing.

In order to permit Maha, Palliser and Palliser's lender to continue negotiations relative to the terms of a potential amended credit facility, the outside date for the transaction under the Amalgamation Agreement has been extended to November 28, 2014 and the terms of the forbearance agreement between Palliser and its lender have been extended for a period of one week, to November 7, 2014 .  If Maha, Palliser and Palliser's lender are able to come to terms, it is expected that additional time will be necessary to satisfy any conditions related to the amended credit facility, including closing of the requisite equity financing, and the amalgamation would be scheduled to be completed in the last half of November, 2014.

About Palliser

Palliser is a Calgary -based junior oil and gas company focused on high netback heavy oil production in the greater Lloydminster area of Alberta and Saskatchewan .


Forward Looking Statements

Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release may include, but is not limited to, the terms of a transaction between Maha, Palliser and Palliser's lender, timing for completion of the amalgamation of Palliser and Maha and matters related or incidental thereto, and the plans of Palliser and Maha. No assurance can be given that a modified transaction will be agreed to between Palliser and Maha, or if agreed, be acceptable to those from whom consent or approval will be necessary.  Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect. Although Palliser believes that the expectations reflected in its forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because Palliser can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified in this press release, assumptions have been made regarding and are implicit in, among other things, the availability of requisite financing, receipt of third party consents or approvals, timely receipt of any required regulatory approvals and shareholder approvals, if any. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used.

Forward-looking information is based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Maha and Palliser and described in the forward-looking information. The forward-looking information contained in this press release is made as of the date hereof and Palliser 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 by applicable securities laws. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.

United States Matters

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



SOURCE Palliser Oil & Gas Corporation

CALGARY , Oct. 31, 2014 /CNW/ - Legacy Oil + Gas Inc. ("Legacy" or the "Company") (TSX: LEG) announces that the Company expects to release its 2014 third quarter financial and operational results on Monday, November 10, 2014 . In addition, Management will be holding a conference call for investors, financial analysts, media and any interested persons on Tuesday, November 11, 2014 at 9:00 a.m. (MDT) ( 11:00 a.m. EDT ) to discuss the quarterly results.

The investor conference call details are as follows:

Participant Dial-In Number(s):

  • Operator Assisted Toll-Free Dial-In Number:  (888) 231-8191
  • Local Dial-In #:  (403) 451-9838
  • Conference ID:  25766808

NOTE:  In order to join this conference call, you will be required to provide the Conference ID Number listed above.

SOURCE Legacy Oil + Gas Inc.

CALGARY, ALBERTA--(Marketwired - Oct. 31, 2014) -


Bayshore Petroleum Corp. ("Bayshore" or the "Company") (TSX VENTURE:BSH) is pleased to announce that it has completed its annual and special meeting of shareholders ("AGM") approving as proposed the election of directors, amendment and approval of the stock option plan, and presentation of the annual audited financial statements and Management's Discussion and Analysis for the twelve month period ending December 31, 2012 and the twelve month period ending December 31, 2013. The Company did not hold an AGM in 2013, and thus obtained a Court Order enabling the Company to do so. Two new directors were elected: Mark Roth and the Honorable Bill McKnight. Mr. Roth is the current chief financial officer, and Bill McKnight is an independent director.

Mr. McKnight was born and raised in Saskatchewan. He has been a farmer, entrepreneur, and a public servant. Mr. McKnight was in public life from 1979 to 1993 serving as a Canadian Member of Parliament for Kindersley-Lloydminster. He served as minister in seven federal ministries: Labour, Canada Mortgage and Housing Corporation, Indian Affairs and Northern Development, Western Economic Diversification, National Defence (during the first Gulf War), Agriculture, and Energy, Mines and Resources. While a Member of Parliament he represented Canada at First Ministers' conferences, NATO, the General Agreement on Tariffs and Trade (GATT), and UN proceedings; negotiated the Husky Oil Bi-Provincial Upgrader and the $6-billion Hibernia Offshore Oil Project; served as the first minister of the Department of Western Economic Diversification; and negotiated land claims settlements in the Yukon, Northwest Territories, and Saskatchewan. Mr. McKnight was closely involved in the 1992 Saskatchewan Treaty Land Entitlement Framework Agreement, and served as the Treaty Commissioner for the Province of Saskatchewan from 2007 to 2012 with a mandate to assist Canada and the Federation of Saskatchewan Indian Nations with Treaty implementation. Since leaving public life in 1993, Mr. McKnight has been active in the private sector. He is founding board member and current chair of the Golden Opportunities Fund and director of several public and private companies. Mr. McKnight is the honorary Chief of the Muskeg Lake Cree Nation.

Subject to TSX Venture Exchange approval, the Company has issued 70,000 common stock options to a director of Bayshore at a strike price of $0.11. These options fully vest immediately and expire five years from the date they are granted.

About Bayshore Petroleum Corp.

Bayshore is a Calgary, Alberta-based corporation focused on the exploitation of technology that increases the productivity and profitability of heavy oil and bitumen. The Company's cold catalytic cracking process, and other technologies like desulphurization using the ultrasonic oxidation process, reduce upgrading and refining costs, reduce the need for diluent and other measures and costs in the transportation of oil, and expedite the end to end process of delivering fuels to the downstream user.

On behalf of the Board of Directors


Peter Ho, President and CEO

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in the United States. The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cautionary Statements

Statements in this press release may contain forward-looking information including expectations of future production, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the mining industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.


Bayshore Petroleum Corp.
+1 403 265 8820
+1 403 290 6565 (FAX)
[email protected]
Mandarin (written and spoken) services available

ALMATY, KAZAKHSTAN--(Marketwired - Oct. 31, 2014) - Tethys Petroleum Limited ("Tethys" or "the Company" (TSX:TPL) (LSE:TPL)) today provided an update on the sale of 50% (+ 1 share) of Tethys Kazakhstan S.A to SinoHan Oil and Gas Investment 6 B.V. ("SinoHan"), part of HanHong, a Beijing, PRC based private equity fund. This deal is based upon USD75 million for the 50% (+ 1 share) interest.

Tethys has today entered into an agreement with HanHong to extend the one-year longstop date for completing the sale by a period of six months, until 1 May 2015. This extension keeps the current agreement in place while discussions continue with the Kazakh State.

Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.

This press release contains "forward-looking information" which may include, but is not limited to, the anticipation that this correspondence may lead to the Kazakh State deciding to waive its pre-emptive right in respect of the sale or provide any other approvals required in connection with the sale or the sale to SinoHan being completed before the extended longstop date. There can be no assurance that the Kazakh State will determine to waive its pre-emptive right or provide any other approvals required in connection with the sale and there can be no certainty that the sale to SinoHan will be completed before the extended longstop date or thereafter. Such forward-looking statements reflect our current views with respect to future events. See our Annual Information Form for the year ended December 31, 2013 for a description of risks and uncertainties relevant to our business, including our exploration activities. The "forward looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.

Tethys Petroleum Limited
Sabin Rossi
Vice President Investor Relations
[email protected]

Media / IR Enquiries
Asia Pacific
Quam IR:
Anita Wan
+852 2217 2999

[email protected]

CALGARY , Oct. 31, 2014 /CNW/ -  (TSX-V: PFC) - PetroFrontier Corp. ("PetroFrontier") is pleased to announce that its wholly owned subsidiary, PetroFrontier ( Australia ) Pty Ltd ("PetroFrontier Australia") has received $2,971,884 (Australian Dollars) in respect of Research & Development tax incentives from the Australian Taxation Office plus accrued interest of $101,783 . Â

PetroFrontier's other wholly owned subsidiary, Texalta Australia Pty Ltd ("Texalta"), has also filed for a Research & Development tax incentive with the Australian Taxation Office in respect of the same project during the same time period as PetroFrontier Australia.  Texalta could net up to $1,447,834 (Australian Dollars) as a result of its claim.  The outcome of the Texalta tax filing is uncertain and is expected to be resolved prior to year end.

About PetroFrontier Corp.

PetroFrontier is an international oil and gas exploration company engaged in the exploration, acquisition and development of both conventional and unconventional petroleum assets in Australia's Southern Georgina Basin where, subsequent to its Amended Farmin Agreement with Statoil Australia Theta B.V., it holds a net carried 20% working interest in approximately 13.1 million gross acres.  PetroFrontier's head office is based in Calgary, Alberta and its common shares are listed on the TSX Venture Exchange under the symbol "PFC".Â

Forward-Looking Statements

This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of PetroFrontier. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in PetroFrontier's disclosure documents on the SEDAR website at . Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, PetroFrontier does not assume any obligation to update or revise them to reflect new events or circumstances.

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.

SOURCE PetroFrontier Corp.

Energy costs to increase for homes and businesses Â

CHATHAM, ON , Oct. 31, 2014 /CNW/ - Union Gas today expressed their concern that TransCanada's Energy East project, filed yesterday with the National Energy Board, will have significant and negative impacts on natural gas consumers in Ontario and Québec.

The TransCanada Energy East project is a proposal to develop a pipeline to ship oil from Alberta to New Brunswick by converting 3,000-kilometres of its existing natural gas Mainline between Alberta and Ottawa to oil, and building 1,600 kilometres of new oil pipeline from Ottawa to New Brunswick .

Union Gas supports the concept of the Energy East project. The conversion of under-used natural gas pipeline capacity to oil makes sense between Alberta and North Bay, Ontario . However, TransCanada's proposal to convert a critical and fully-used natural gas pipeline between North Bay and Ottawa to oil and replace it with a smaller and more expensive new gas pipeline is unacceptable. The proposed smaller replacement natural gas pipeline would reduce the existing pipeline capacity in the east by approximately 20 per cent and is the equivalent of eliminating natural gas capacity for half a million Ontario and Quebec homes and businesses.

TransCanada has consistently underestimated market demand and as a result have understated the size and cost of the new replacement gas line. Further, the proposal seeks to have eastern gas consumers bear the capital cost risk related to the construction of the new replacement line.

There is a simple solution: TransCanada should build a new oil line from North Bay east and leave the existing and fully-used gas pipeline in place to serve existing natural gas consumers as it has for many years.Â

"We have expressed concerns about the structure of the Energy East project for well over a year and we continue to have serious concerns about the negative impacts to our customers of a new higher-cost line with lower capacity, and the resulting impact of increased natural gas supply costs," said Steve Baker , president of Union Gas. "While we support the concept of the Energy East project, we cannot support removing an existing, fully-used natural gas pipeline and replacing it with a new, smaller and more expensive pipeline."

"We believe there is simply no reason or logic for 3.6 million natural gas customers – which include schools, hospitals, homes and industries – to be treated unfairly," added Baker.  "We support the development of new infrastructure and there is a simple solution to ensure our support for the project: TransCanada should leave the existing and fully-used gas pipeline in place, and build and pay for a new oil pipeline from North Bay to Ottawa . That is a proposal we would immediately and unequivocally support and this would ensure western Canadian oil's safe and reliable access to global markets."

After more than a year of discussions with TransCanada to achieve a fair solution that does not negatively impact the existing gas markets in Ontario and Quebec , we are disappointed to see TransCanada file their application without resolving these concerns.Â

About Union Gas
Union Gas Limited, a Spectra Energy (NYSE: SE) company, is a major Canadian natural gas storage, transmission and distribution company based in Ontario with more than 100 years of experience and service to customers, assets of over $6.4 billion and approximately 2,200 employees. The distribution business serves about 1.4 million residential, commercial and industrial customers in more than 400 communities across Ontario . Union Gas is one of Canada's Top 100 Employers for 2014. For more information, visit or find us on Twitter:, Facebook: and YouTube:

SOURCE Union Gas Limited

CALGARY , Oct. 31, 2014 /CNW/ - Bankers Petroleum Ltd. ("Bankers" or the "Company") (TSX: BNK, AIM: BNK) hosted its 2014 Field Tour for analysts and institutional investors to showcase the strength and continued momentum of our operations in Albania .

During the Field Tour, Bankers Management team gave a technical presentation outlining the Company's current activity in the field and emphasizing our operational and financial flexibility. Bankers capital program is structured to allow for the ability to accelerate or defer projects in accordance with lower oil prices, while maintaining focus on production growth, polymer and water flood pilot expansion and cost improvements within the field. The Company continues to deliver strong results for our investors through a strategy of self-funded growth.

Updated Corporate Presentation

For additional information on our technical discussion please see the Company's 2014 Field Tour presentation at .

Q3 Financial Results Release Date

Bankers is scheduled to release its third quarter 2014 Financial Results on Friday, November 7, 2014 at 5:00 am MST ( 7:00 am EST , 12:00 pm GMT ).

About Bankers Petroleum Ltd.

Bankers Petroleum Ltd. is a Canadian-based oil and gas exploration and production company focused on developing large oil and gas reserves.  In Albania , Bankers operates and has the full rights to develop the Patos-Marinza heavy oilfield, has a 100% interest in the Kuçova oilfield, and a 100% interest in Exploration Block "F".  Bankers' shares are traded on the Toronto Stock Exchange and the AIM Market in London, England under the stock symbol BNK.

SOURCE Bankers Petroleum Ltd.

CALGARY , Oct. 31, 2014 /CNW/ - Imperial Oil Limited today declared a quarterly dividend of 13 cents per share on the outstanding common shares of the company, payable on January 1, 2015 , to shareholders of record at the close of business on December 3, 2014 .

This fourth quarter 2014 dividend compares with the third quarter 2014 dividend of 13 cents per share.

Imperial has a long and successful history of growth and financial stability in Canada as a leading member of the petroleum industry. The company has paid dividends every year for over a century and has increased its annual dividend payment for 20 consecutive years.

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 the high standards across all areas of our business.

SOURCE Imperial Oil Limited