CALGARY , Dec. 31, 2014 /CNW/ - Bankers Petroleum Ltd. (TSX: BNK, AIM: BNK) is scheduled to release its fourth quarter operational update on Tuesday, January 6, 2015 at 5:00 am MST ( 7:00 am EST , 12:00 pm GMT ). Following the press release, Management of Bankers will host a conference call for analysts and investors to discuss the results at 6:30 am MST ( 8:30 am EST , 1:30 pm GMT ).

Conference Call Details

To participate in the conference call, please contact the conference operator ten minutes prior to the call at 1-888-231-8191 or 1-647-427-7450. A live audio web cast of the conference call will also be available on Bankers website at or by entering the following URL into your web browser, .

The web cast will be archived two hours after the presentation on the website, and posted on the website for 90 days. A replay of the call will be available until January 20, 2015 by dialing 1-855-859-2056 or 1-416-849-0833 and entering access code 60030326.

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 , Dec. 31, 2014 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it has closed its previously announced acquisition of a 70.79% ownership interest in the Ricinus deep-cut gas plant (the "Plant") in west central Alberta for a purchase price of $65 million . Upon closing, Keyera became operator of the facility.

About Keyera

Keyera Corp. (TSX:KEY) operates one of the largest natural gas midstream businesses in Canada . Its business consists of natural gas gathering and processing as well as the processing, transportation, storage and marketing of NGLs, the production of iso-octane and crude oil midstream activities.

Keyera's gas processing plants and associated facilities are strategically located in the west central, foothills and deep basin natural gas production areas of the Western Canada Sedimentary Basin. Its NGL and crude oil infrastructure, including pipelines, terminals and processing and storage facilities, as well as its iso-octane facility, are located in Edmonton and Fort Saskatchewan, Alberta , a major North American NGL hub. Keyera markets propane, butane, condensate and iso-octane to customers in Canada and the United States .

SOURCE Keyera Corp.

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


DIVERGENT Energy Services Corp. (the " Corporation ") (TSX VENTURE:DVG) announces that, subject to the final approval of the TSX Venture Exchange (the " TSXV "), it has amended the terms of its previously issued 10% secured, subordinated debentures (the " Debentures ") to (i) extend the maturity date of the Debentures from December 31, 2014 to December 31, 2015 and (ii) make the Debentures transferable in certain circumstances (collectively, the " Amendments ").

The Amendments were approved by extraordinary resolution of the holders of Debentures (the " Debentureholders ") effective December 24, 2014 and the Corporation has entered into a supplemental indenture dated December 30, 2014 with Computershare Trust Company of Canada, as Debenture trustee, to reflect the Amendments.

In addition, the Corporation has, subject to the final approval of the TSXV, amended the terms of the common share purchase warrants that were issued as part of a unit with each Debenture to make such warrants transferable in certain circumstances.

In consideration for the Debentureholders approving the Amendments, the Corporation has agreed, subject to the final approval of the TSXV, to issue to each Debentureholder an additional 500 common share purchase warrants for each $1,000 principal amount of Debentures held by such Debentureholder (" Additional Warrants "), for an aggregate of 2,875,000 Additional Warrants, each Additional Warrant entitling the holder thereof to purchase one common share in the capital of the Corporation at an exercise price of $0.20 on or before December 31, 2016.

The Corporation has agreed to pay Wolverton Securities Ltd. (" Wolverton "), the agent for the original private placement of Debentures, a fee of $190,000 plus applicable G.S.T. pursuant to a services agreement to assist in relation to the Amendments. The Corporation has also agreed to reimburse Wolverton for its reasonable expenses incurred in conjunction with the foregoing, including the fees and disbursements of its legal counsel.

Headquartered in Calgary, Alberta, DIVERGENT Energy Services Corp. provides an array of specialized products and services that are used in the energy, mining, and industrial & agricultural water industries.

This press release contains forward-looking statements. More particularly, this press release contains statements concerning the receipt of TSXV approval. The forward-looking statements contained in this press release are based on certain key expectations and assumptions made by the Corporation. Although the Corporation believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Corporation can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve 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 failure to obtain necessary regulatory approvals and changes to existing laws and regulations. Forward-looking statements are based on estimates and opinions of management of the Corporation at the time the information is presented. The Corporation may, as considered necessary in the circumstances, update or revise such forward-looking statements, whether as a result of new information, future events or otherwise, but the Corporation undertakes no obligation to update or revise any forward-looking statements, except as required by applicable securities laws.

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.

DIVERGENT Energy Services Corp.
Ken Berg
President and Chief Executive Officer
[email protected]

DIVERGENT Energy Services Corp.
Scott Hamilton
Chief Financial Officer and Corporate Secretary
[email protected]

DIVERGENT Energy Services Corp.
1170, 800 - 6th Ave SW
Calgary, AB T2P 3G3
(403) 543-0060
(403) 543-0069 (FAX)

TORONTO, ONTARIO--(Marketwired - Dec. 31, 2014) - Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) is pleased to announce that Marco Guidi has been promoted to Chief Financial Officer of the Company. Mr. Guidi, a Chartered Accountant with both large and boutique accounting firm experience, has provided Corporate Controller accounting and other financial services to the Company for several years and is very familiar with its financial processes and controls. Mr. Guidi is well respected within the accounting industry and has existing working relationships with all of the Company's independent accounting advisors, auditors and tax advisers. The Company welcomes Marco to its senior management team.

Steven van Tongeren, the Company's departing CFO, unfortunately had to resign his position as a result of urgent family matters requiring his attention. Steve has been a valued member of the Tanzanian Royalty management team since February 22, 2011, and the Company wishes him all the best in his new endeavours. The Company is very pleased that Steve has agreed to assist the Company on a part-time consulting basis going forward.

Respectfully submitted,

Joseph K. Kahama, Chairman and Chief Operating Officer (Tanzania)

The Toronto Stock Exchange and NYSE Amex Equities have not reviewed and do not accept responsibility for the adequacy or accuracy of this release

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as "reserves", "resources", "geologic resources", "proven", "probable", "measured", "indicated", or "inferred" which may not be consistent with the reserve definitions established by the SEC. U.S. Investors are urged to consider closely the disclosure in our SEC filings. You can review and obtain copies of these filings from the SEC's website at

This news release contains certain forward-looking statements and forward-looking information. All statements, other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time-to-time with the British Columbia, Alberta and Ontario provincial securities regulatory authorities.

Certain information presented in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Investors are referred to our description of the risk factors affecting the Company, as contained in our SEC filings, including our annual report on Form 20-F and Registration Statement on Form F-10, as amended, for more information concerning these risks, uncertainties, and other factors.

Tanzanian Royalty Exploration Corporation
Investor Relations
[email protected]

CALGARY, ALBERTA--(Marketwired - Dec. 31, 2014) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Corporation) announced today that 12,501,577 of its 22,000,000 fixed rate Cumulative Redeemable First Preferred Shares, Series 1 (Series 1 Shares) were tendered for conversion today, on a one-for-one basis into floating-rate Cumulative Redeemable First Preferred Shares, Series 2 (Series 2 Shares). As a result of the conversion TransCanada has 9,498,423 Series 1 Shares and 12,501,577 Series 2 Shares issued and outstanding. The Series 1 Shares will continue to be listed on the Toronto Stock Exchange (TSX) under the symbol TRP.PR.A. The Series 2 Shares will begin trading on the TSX today under the symbol TRP.PR.F

The Series 1 Shares will continue to pay on a quarterly basis, for the five-year period beginning on December 31, 2014, as and when declared by the Board of Directors of TransCanada, a fixed dividend based on an annual fixed dividend rate of 3.266 per cent.

The Series 2 Shares will pay a floating quarterly dividend for the five-year period beginning on December 31, 2014, as and when declared by the Board of Directors of TransCanada. The floating quarterly dividend rate for the Series 2 Shares for the first quarterly floating rate period (being the period from December 31, 2014 to but excluding March 31, 2015) is 2.815 per cent and will be reset every quarter.

For more information on the terms of, and risks associated with an investment in, the Series 1 Shares and the Series 2 Shares, please see the Corporation's prospectus supplement dated September 22, 2009 which can be found under the Corporation's profile on SEDAR at .

With more than 60 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines that extends more than 68,500 kilometres (42,500 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with more than 400 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns or has interests in over 11,900 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest liquids delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. Visit and our blog to learn more, or connect with us on social media and 3BL Media .


This publication contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Forward-looking statements in this document are intended to provide TransCanada security holders and potential investors with information regarding TransCanada and its subsidiaries, including management's assessment of TransCanada's and its subsidiaries' future plans and financial outlook. All forward-looking statements reflect TransCanada's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. TransCanada undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the Quarterly Report to Shareholders dated November 3, 2014 and 2013 Annual Report filed under TransCanada's profile on SEDAR at and with the U.S. Securities and Exchange Commission at .

Media Enquiries:
Shawn Howard / Mark Cooper
403.920.7859 or 800.608.7859

TransCanada Investor & Analyst Enquiries:
David Moneta / Lee Evans
403.920.7911 or 800.361.6522

CALGARY , Dec. 31, 2014 /CNW/ - Oando Energy Resources Inc. ("OER" or the "Company") (TSX: OER) , a company focused on oil and gas exploration and production in Nigeria , is pleased to announce that it has received the approval of the Toronto Stock Exchange (" TSX ") for the listing of 344,673,441 previously issued warrants (the " Warrants ") to acquire 344,673,441 common shares of OER at a price of US$1.80 per common share until July 30, 2016 , subject to acceleration and usual adjustments. The listing of the Warrants is expected to enhance market liquidity of the Company's currently listed common shares and reduce the holdings of the Company's controlling shareholder, Oando Plc, to the extent that Warrants are exercised by holders other than Oando Plc. The Warrants are expected to commence trading on the TSX on or about January 8, 2015 under the symbol "OER.WT".

In order to meet the TSX's public distribution requirements for listing of the Warrants, a wholly-owned subsidiary of Oando Plc transferred 100 Warrants to each of 103 employees of Oando Plc for no consideration and on the basis that each employee has voluntarily accepted such Warrants. The Warrants were transferred pursuant to section 2.24 of National Instrument 45-106 – Prospectus and Registration Exemptions .

As a result of the transfer of Warrants described above, the wholly-owned subsidiary of Oando Plc now holds 325,382,569 Warrants. Pursuant to an undertaking to be given to the TSX in connection with listing the Warrants, Oando Plc and its subsidiaries are restricted from exercising any Warrants to the extent that such conversion would result in Oando Plc's direct and indirect ownership of common shares of OER exceeding 94.6%. The terms of the Warrants are set out in a warrant indenture dated December 31, 2014 , which will be filed under OER's profile at .

About Oando Energy Resources Inc.

OER currently has a broad suite of producing, development and exploration assets in the Gulf of Guinea (predominantly in Nigeria ). OER's sales production was 14,909 boe/d in the first nine months of 2014, with only 61 days of production from OMLs 60 - 63 attributed to this period. However production from OML's 60 – 63 contributed an average of 46,858 boe/d for the 61 days from July 30, 2014 to September 30, 2014 .

Forward Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements.

Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that such statements and information will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve 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: risks related to the development of a liquid market for the Warrants or the common shares of OER and the other risks associated with holding common shares of OER. Accordingly, readers should not place undue reliance on the forward-looking statements. Readers are cautioned that the foregoing list of risk factors is not exhaustive.

Additional information on these and other factors that could affect the Company's financial results are included in reports on file with applicable securities regulatory authorities and may be accessed under the Company's profile on the SEDAR website ( ). The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation 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 Oando Energy Resources Inc.

GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Dec. 31, 2014) - Tethys Petroleum Limited (TSX:TPL) (LSE:TPL) ("Tethys" or the "Company") is pleased to announce that TethysAralGas LLP, its 100% owned Kazakhstan subsidiary, has signed a gas sales contract for 2015 gas production.

  • New gas contract signed
  • 42% increase over current price of US$53/MCM to US$75/MCM
  • 100 million cubic metres under contract
  • Option to sell additional 110 million cubic metres at potentially higher prices

A one-year gas supply contract has been signed at a price of US$75/mcm (US$2.12 per 1,000 cubic feet) net of marketing and distribution costs effective January 1, 2015 representing a 42% increase over the current realised gas price. This price has been realised despite falling oil and gas prices in Central Asia due to the impact of the fall in worldwide prices (Henry Hub spot price has fallen 30% to $108/mcm since December 1 st , 2014). The achievement of the higher gas prices reflects the Company's view that despite these recent influences, the general direction of gas prices is on an upward trend due to the increasing demand from China as it moves from a coal based economy to utilising more gas. The Company believes that once gas shipments commence to China through the already built gas pipeline, it may achieve further increases in pricing some time in 2015.

The gas supply contract has been signed between TethysAralGas LLP and KazTransGas JSC "KTG"), for the Kyzyloi and Akkulka natural gas fields. KTG is the national State appointed gas operator under Kazakhstan gas law and any domestic sales of gas are effectively made through this state body. TAG will have the ability to export gas to China and other export markets once this option becomes available.

The gas supply contract is for annual volumes up to 100 million cubic meters at the increased net price of US$75 per 1,000 cubic metres (US$2.12 per 1,000 cubic feet) net of marketing and distribution costs, and runs through to December 31, 2015. KTG has agreed that it will take any additional gas produced up to a total annual volume of 210 million cubic metres, but the structure of the contract also allows TAG to sell this additional gas outside of the contract should higher prices be achieved at a later date. This additional flexibility provides a significant advantage over the current contract under which all gas was committed for the whole year.

It should be noted that the prices have been agreed in Kazakh Tenge as all sales contracts in Kazakhstan are signed with the prices set in National Currency. Due to concerns of a possible devaluation in the Tenge in 2015 it was agreed that in the case of a devaluation by more than 10%, the Parties shall agree to meet within 10 working days and try to renegotiate the price of gas. This is the first time the Company has managed to include this type of clause which is a significant improvement on the current gas contract whereby there was no potential resolution when the Tenge devalued in 2014 resulting in a lower realized USD price for the Company at that time.

John Bell, Executive Chairman, commented, "I am pleased we have delivered on one of our major initiatives announced in early December; to sign a new gas sales contract by month end at a materially higher price than the current contract. This has been achieved despite a dramatic worldwide fall in oil and gas prices, including in the areas we operate in. As well as the higher price we have also introduced other protections and improvements on the contract that are very significant. We previously announced in early December that it was our plan to double the current gas production by Q1 2015, and I look forward to updating shareholders on progress on this in the very near future."

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". Such forward-looking statements reflect our current views with respect to future events, our expectation with respect to increases in gas production, achieving higher gas prices and the significant potential of exploration and discovered deposits. The forward-looking statements are based on the following assumptions, that the Company will be successful in increasing gas production and/or the price at which it sells its gas. These forward looking statements are subject to a number of risks and uncertainties, including the risk that that the Company will not be successful in increasing its gas production to the extent anticipated or achieving any further increases in the prices at which it sells it gas. 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]

[email protected]

CAMARILLO, CA , Dec. 30, 2014 /CNW/ - BNK Petroleum Inc. (the " Company " or " BNK ") (TSX: BKX) is providing an update on its Tishomingo Field, Caney shale oil operations in Oklahoma as well as its Polish shale gas project.

Tishomingo Field, Oklahoma

The Company has fracture stimulated 30 percent of the Emery 17-1H well (98.7% interest). The Company has decided to flowback the well at this time and fracture stimulate the rest of the lateral at a later date.  The well began flowback today.

The Company has just finished drilling the Nickel Hill 36-3H well (99.4% interest) and has cemented the casing in place.  The Company employed revised drilling practices on the Nickel Hill 36-3H that were successful in avoiding some issues encountered in the Emery 17-1H well.  The Emery 17-1H issues impacted drilling time and cost and necessitates remedial work prior to fracture stimulation of the rest of the lateral.  The Company expects to utilize these new drilling practices in future Caney wells and believes they will enable significant future savings.  After drilling the Nickel Hill 36-3H well the Company's net acreage in the Tishomingo Field has increased to about 16,200 acres.

The Company's existing Caney production is declining at a slower rate than forecast in the reserves report for the year ended December 31, 2013 and in management's opinion is performing very well.  However, given the oil price drop over the last few months, the Company is taking a conservative approach to capital expenditures.  Accordingly, the Company has released the drilling rig and will postpone the completion of the Nickel Hill 36-3H well and the fracture stimulation of the rest of the Emery 17-1H well. The Company is also evaluating cost saving measures.

Gapowo B-1H Well, Poland

The previously announced reservoir model analysis for the Gapowo B-1H shale gas well in Poland has been completed.  The model was prepared for the Company by a third party consulting firm that is a world leader in this field.

The model simulated flow rates and recoveries that would be achieved if another well is drilled near the Gapowo B-1H well, in various sub intervals of the Ordovician shale, and is successfully fracture stimulated along a full-length lateral with the modeled fracture design.  It also assumes that the learnings from the Gapowo B-1H well and the modeling are incorporated in the new well design. As announced on June 5 and July 30, 2014 , the fracture stimulation of the Gapowo B-1H well encountered challenges resulting in placement of proppant that was sub-optimal and did not achieve designed volumes. Flow back rates, data from pressure gauges and data analysis indicate that only 8 of the 20 stages were contributing to the flow.

The forecasted flow rates and estimated recoveries predicted by the numerical model for a full stimulated length lateral, in addition to the overpressure that was confirmed by the data collected from the Gapowo B-1H well, are encouraging and the Company believes further wells are warranted.

The detailed study report prepared by the third party consulting firm will be included in the information made available to potential joint venture partners.  The Company has begun the process of providing potential partners with access to project data.  The Company believes that the encouraging modeling results, strong natural gas prices in Europe , and the Company's large Polish acreage position will be attractive to joint venture partners with the capacity to advance this project.

About BNK Petroleum Inc.

BNK Petroleum Inc. is an international oil and gas exploration and production company focused on finding and exploiting large, predominately unconventional oil and gas resource plays. Through various affiliates and subsidiaries, the Company owns and operates shale oil and gas properties and concessions in the United States , Poland and Spain . Additionally the Company is utilizing its technical and operational expertise to identify and acquire additional unconventional projects. The Company's shares are traded on the Toronto Stock Exchange under the stock symbol BKX.

Caution Regarding Forward-Looking Information

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws, including statements regarding the Company's plans for development of its properties in Oklahoma and Poland , anticipated results and timing. Forward-looking information is based on plans and estimates of management and interpretations of exploration information by the Company's exploration team at the date the information is provided and is subject to several factors and assumptions of management, including that indications of early results are reasonably accurate predictors of the prospectiveness of the shale intervals, that anticipated results and estimated costs will be consistent with managements' expectations, that new drilling and stimulation techniques will be successful, that the Company's geological analyses are accurate, that required regulatory approvals will be available when required, that no unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays or labor or contract disputes or shortages are encountered, that the development plans of the Company and its co-venturers will not change, that the demand for oil and gas will be sustained, that the Company will continue to be able to access sufficient capital through financings, farm-ins or other participation arrangements to maintain its projects and carry out its plans and that global economic conditions will not deteriorate in a manner that has an adverse impact on the Company's business, its ability to advance its business strategy and the industry as a whole.

Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information.  Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions on which such forward looking information is based vary or prove to be invalid, including that anticipated results and estimated costs will not be consistent with managements' expectations, new drilling and completion techniques proving to be unsuccessful, the Company's geological analyses proving to be inaccurate, the Company or its subsidiaries is not able for any reason to obtain and provide the information necessary to secure required approvals or that required regulatory approvals are otherwise not available when required, that unexpected geological results are encountered, that equipment failures, permitting delays or labor or contract disputes or shortages are encountered, that completion techniques require further optimization, that production rates do not match the Company's assumptions, that very low or no production rates are achieved, that the Company is unable to access required capital, that occurrences such as those that are assumed will not occur, do in fact occur, and those conditions that are assumed will continue or improve, do not continue or improve, and the other risks and uncertainties applicable to exploration and development activities and the Company's business as set forth in the Company's management discussion and analysis and its annual information form, both of which are available for viewing under the Company's profile at , any of which could result in delays, cessation in planned work or loss of one or more concessions and have an adverse effect on the Company and its financial condition. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

BOEs/boes (barrels of oil equivalent) 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.

The Company's disclosure contains peak and initial production rates and other short-term production rates.  Readers are cautioned that initial production rates are preliminary in nature and are not necessarily indicative of long-term performance or of ultimate recovery.

SOURCE BNK Petroleum Inc.

CALGARY, ALBERTA--(Marketwired - Dec. 30, 2014) - New West Energy Services Inc. (TSX VENTURE:NWE) (the "Corporation") is pleased to announce the financial results for the Corporation for the second quarter ended October 31, 2014.

Operational and Financial Results for the Second Quarters Ended October 31, 2014 and 2013:

  • Revenue increased 37% to $6.64 million from $4.83 million in previous year equivalent period.
  • Gross margin of $1.48 million (2013 was $1.32 million).
  • Net income of $25,243 from operations after income tax (2013 had a net loss of $171,327).
  • Earnings per share (basic and diluted) from operations of $0.000 (2013 was a negative ($0.002)).
  • EBITDA was $472,161 (2013 was a negative ($35,534)). This calculation is a non-IFRS measure.
  • The Corporation continued the build out of the new diversified service operating in Beaverlodge, Alberta with the addition of key supervisory and operational staff to support the new equipment and services. The new services include combo and hydrovac trucks used on the completions and production sectors as well as quad wagons and tri trailers used in the hauling of frac water, oil and other production fluids. The Corporation plans to leverage its strong client base further to support this service.

Company Developments:

Total capital expenditures during the quarter amounted to $1.5 million for additional trucks and equipment. During the quarter the Corporation sold approximately five units from the equipment fleet which resulted in net proceeds of approximately $300,000. The sold units consisted of older model vacuum and water trucks as well as some underutilized end dump trucks and trailers.

Outlook and Strategy:

The Corporation has a solid client base and is looking to leverage this client base to offer its new diversified services. Management plans on continuing the diversification growth into the production sector and increasing the plant turnaround and bulk transport service in the future.


From the Slave Lake and Medicine Hat centres, the services provided are to the drilling projects while from Beaverlodge centre, the services are provided mainly to completions and production operations. Through its subsidiaries, the Corporation operates a fleet of straight, combo and hydro vac trucks as well as end dumps, water and tank trucks with quad wagons and tri trailers, steamer/boiler units and environmental services. The Corporation operates throughout Western Canada in the drilling, completions and production sectors of the oil and gas industry with its main service centres located in Beaverlodge, Medicine Hat and Slave Lake, Alberta.

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

Gerry E. Kerkhoff
New West Energy Services Inc.
President & Chief Executive Officer
Phone - 403.984.9798 or 1.888.977.2327 (BEAR)
Fax - 403.984.9799
Email - [email protected]

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 30, 2014) - Offsetters Climate Solutions Inc. ("Offsetters" or the "Company") (TSX VENTURE:COO)(FRANKFURT:9EA) would like to announce that it has postponed certain payment terms related to the acquisition, announced December 14, 2012, whereby Offsetters (formerly ERA Carbon Offsets Ltd.) acquired Offsetters Clean Technology Inc. and Carbon Credit Corporation from a third party Seller (the "Seller").

Under the terms of the Share Purchase Agreement dated November 7, 2012, Offsetters was scheduled to remit the Third Cash Payment of CDN $500,000 cash to the Seller by December 30, 2014. The Company and the Seller have agreed to amend this payment schedule effective December 29, 2014. The amended payment schedule will extend the deadline for the Third Cash Payment from December 30, 2014 until January 30, 2015.

James Tansey, Ph.D., President and CEO, Offsetters Climate Solutions Inc.

About Offsetters Climate Solutions Inc.

Offsetters is Canada's largest and most diversified carbon management solutions company. Its team of industry leaders specializes in the origination, development and commercialization of high-quality carbon offset projects, and through a comprehensive offering of sustainability consultancy services Offsetters helps organizations understand, reduce and offset their climate impact. Based in Vancouver, Canada, Offsetters has worked with over 150 of the world's most prestigious organizations including Aimia, Vancity, lululemon athletica, Catalyst Paper, Harbour Air, HSE - Entega, and Shell Canada Limited. Offsetters is publicly listed company on the Toronto Venture Exchange (TSX VENTURE:COO) and in Frankfurt:9EA. For more information, please visit us at .

FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of the company's general business development, research development and the company's development of carbon offsets. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Offsetters Climate Solutions Inc. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include fluctuations in the marketplace for the sale of carbon credits, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.


Offsetters Climate Solutions Inc.
David Rokoss
[email protected]