GLJ | Jotup

Journey Energy Inc. Announces Year-End 2023 Reserves

Retrieved on:

Friday, February 23, 2024

MPP, GPP, NPV, Testament, GLJ, TSX, JOY, PDP, Consultant, CPP, Yoy, FD, National instrument, Bank statement, Oil

CALGARY, Alberta, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Journey Energy Inc. (JOY – TSX) (“Journey” or the “Company”) is pleased to report its year-end 2023 oil and gas reserves evaluation.

Key Points:

CALGARY, Alberta, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Journey Energy Inc. (JOY – TSX) (“Journey” or the “Company”) is pleased to report its year-end 2023 oil and gas reserves evaluation.
Proved plus Probable Developed Producing reserves decreased 5% to 48.6 MMboe, with a corresponding decrease of 22% in NPV@10% to $450.5 million ($457.0 million including the CPP).
Realized attractive F&D and FD&A recycle ratios of 2.4 and 2.5 respectively for proven reserves; and 8.9 and 8.5 respectively for proven plus probable reserves.
The following table provides summary information presented in the GLJ Petroleum Consultants Limited (“GLJ”) independent reserves assessment and evaluation effective December 31, 2023, (the “GLJ Report”).

TRILLION ENERGY PROVIDES OPERATIONAL UPDATE FOR SASB GAS FIELD

Retrieved on:

Thursday, January 18, 2024

Well, Sale, Water, Perforation, GLJ, Akçakoca, Oil

Vancouver, B.C., Jan. 18, 2024 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to provide this operational update and to reiterate its production guidance for the SASB gas field issued on September 25, 2023 subject to revised timing to facilitate evaluation of alternative pump types and installation.

Key Points:

Vancouver, B.C., Jan. 18, 2024 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to provide this operational update and to reiterate its production guidance for the SASB gas field issued on September 25, 2023 subject to revised timing to facilitate evaluation of alternative pump types and installation.
On September 25, 2023, Trillion announced its SASB production guidance for the completion of five new wells and one recompletion completed for the work program ending August 2023.
To address the water loading issue, the Company enlisted the expertise of the third-party engineering firm GLJ last November, 2023.
Trillion Energy is committed to transparency and operational excellence, and we appreciate the ongoing support of our stakeholders as we advance further on our developments within the SASB gas play.

Peyto Announces Closing of Repsol Acquisition, Exchange of Subscription Receipts Into Common Shares, an Issuance of Senior Secured Notes and Appointment of New Director

Retrieved on:

Tuesday, October 17, 2023

CALGARY, Alberta, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. ("Peyto" or the "Company") (TSX: PEY) is pleased to announce that it has completed its previously announced acquisition of Repsol Canada Energy Partnership, which holds the Canadian upstream oil and gas business of Repsol Exploración, S.A.U. ("Repsol"), including all related midstream facilities and infrastructure located predominantly in the Deep Basin area of Alberta, for cash consideration of US$468 million (CDN$636 million) (the "Acquisition") prior to closing adjustments. The Acquisition increases Peyto’s current production to 123,000 boe/d (86% natural gas, 14% NGLs), adds over 800 high-impact gross drilling locations1 and includes extensive gas processing and pipeline infrastructure that complement Peyto’s legacy assets in the Edson area. Peyto has plans to begin drilling operations on the Repsol lands, immediately.

Key Points:

In addition, on closing of the Acquisition, in accordance with the terms of the Subscription Receipts, each Subscription Receipt was exchanged for one common share of Peyto.
Trading in the Subscription Receipts on the Toronto Stock Exchange is expected to be halted and the Subscription Receipts delisted before trading commences on October 18, 2023.
The Company is also pleased to announce that it has priced an issuance of $160 million of senior secured notes.
Material assumptions include timing and payment of dividends on the Common Shares and the de-listing of the Subscription Receipts on the Toronto Stock Exchange.

Peyto Announces Strategic Acquisition and Concurrent Bought Deal Offering

Retrieved on:

Wednesday, September 6, 2023

CALGARY, Alberta, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. ("Peyto" or the "Company") (TSX: PEY) is pleased to announce it has entered into a partnership interest purchase agreement to acquire Repsol Canada Energy Partnership, which holds the Canadian upstream oil and gas business of Repsol Exploración, S.A.U., including all related midstream facilities and infrastructure located predominantly in the Deep Basin (collectively the "Assets"), for cash consideration of US$468 million (CDN$636 million) ("the Acquisition") subject to closing adjustments. The Acquisition is expected to close in mid-October, subject to customary closing conditions, including the receipt of necessary regulatory approvals.

Key Points:

Peyto does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law.
The reserves disclosures contained in this news release with respect to Peyto and the assets associated with the Acquisition are derived from means the Peyto Report the GLJ Report, respectively.
Peyto uses the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl).
It does not represent a value equivalency at the wellhead and is not based on either energy content or current prices.

GLJ LTD. PROVIDES AN ORGANIZATIONAL UPDATE

Retrieved on:

Wednesday, August 9, 2023

GLJ, AB, Management

CALGARY, AB, Aug. 9, 2023 /CNW/ - GLJ Ltd. ("GLJ"), a global energy consulting firm, is updating its organizational structure.

Key Points:

CALGARY, AB, Aug. 9, 2023 /CNW/ - GLJ Ltd. ("GLJ"), a global energy consulting firm, is updating its organizational structure.
Caralyn Bennett, Executive Vice President, and Chief Strategy Officer, is leaving GLJ.
President and Chief Executive Officer Jodi Anhorn would like to thank Ms. Bennett for her role in shaping GLJ.
Jonathan Hagel has been promoted to Vice President, Corporate Evaluations at GLJ.

LithiumBank Files Preliminary Economic Assessment Technical Report for the Boardwalk Lithium Brine Project, West-Central Alberta

Retrieved on:

Wednesday, June 21, 2023

CALGARY, Alberta, June 21, 2023 (GLOBE NEWSWIRE) -- LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”) is pleased to announce the filing of the Boardwalk Lithium Brine Project Preliminary Economic Assessment (“PEA”) Technical report entitled “Preliminary Economic Assessment (PEA) for LithiumBank Resources Boardwalk Lithium-Brine Project in West- Central Alberta, Canada” effectively dated June 16, 2023, originally announced May 25th, 2023 .

Key Points:

CALGARY, Alberta, June 21, 2023 (GLOBE NEWSWIRE) -- LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”) is pleased to announce the filing of the Boardwalk Lithium Brine Project Preliminary Economic Assessment (“PEA”) Technical report entitled “Preliminary Economic Assessment (PEA) for LithiumBank Resources Boardwalk Lithium-Brine Project in West- Central Alberta, Canada” effectively dated June 16, 2023, originally announced May 25th, 2023 .
In addition to the Boardwalk project, LithiumBank also holds two other development ready, district scale assets in Western Canada, Park Place (AB) & Saskatchewan.
“The Boardwalk PEA sets the stage for our team to pursue advanced lithium resource development in Western Canada” commented Rob Shewchuk CEO & Director of LithiumBank.
The PEA Technical Report was prepared by the following Qualified Persons; Roy Eccles, P. Geol.

Lithium Gold Rush Continues as Demand Skyrockets for Electric Vehicles and Renewable Energy

Retrieved on:

Monday, April 24, 2023

PALM BEACH, Fla., April 24, 2023 /PRNewswire/ -- North America needs to race to find new supplies and production of lithium as automakers ramp up manufacturing of electric vehicles and demand grows for renewable energy options. Lithium is used in electric car batteries because it is lightweight, can store lots of energy and can be repeatedly recharged. Analysts estimate that lithium demand is going to increase tenfold before the end of this decade as big manufacturers such as Tesla, Volkswagen, General Motors and other automakers introduce dozens of electric models. Other ingredients like cobalt are needed to keep the battery stable. Most of the raw lithium used domestically comes from Latin America or Australia, and most of it is processed and turned into battery cells in China and other Asian countries. Global demand for lithium batteries is expected to surge more than five-fold by 2030, public-private alliance Li-Bridge said recently, as more people opt for electric vehicles and energy storage systems. Demand for lithium batteries in the United States is expected to grow more than six times and translate into $55 billion per year by the end of the decade, but still the country is expected to depend on imports for supply, the report added. Active mining companies in the markets this week include: Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI), LithiumBank Resources Corp. (OTCQX: LBNKF) (TSX-V: LBNK), Atlas Lithium Corporation (NASDAQ: ATLX), Allied Copper Corp. (OTCQB: CPRRF) (TSX-V: CPR), Brunswick Exploration Inc. (OTCQB: BRXWF) (TSX-V: BRW).

Key Points:

PALM BEACH, Fla., April 24, 2023 /PRNewswire/ -- North America needs to race to find new supplies and production of lithium as automakers ramp up manufacturing of electric vehicles and demand grows for renewable energy options.
Lithium is used in electric car batteries because it is lightweight, can store lots of energy and can be repeatedly recharged.
Global demand for lithium batteries is expected to surge more than five-fold by 2030, public-private alliance Li-Bridge said recently, as more people opt for electric vehicles and energy storage systems.
The article continued: "Demand for EVs has soared over the past few years, as climate-conscious consumers snap up cars with electric powertrains, amid soaring fuel prices.

Lithium Gold Rush Continues as Demand Skyrockets for Electric Vehicles and Renewable Energy

Retrieved on:

Monday, April 24, 2023

PALM BEACH, Fla., April 24, 2023 /PRNewswire/ -- North America needs to race to find new supplies and production of lithium as automakers ramp up manufacturing of electric vehicles and demand grows for renewable energy options. Lithium is used in electric car batteries because it is lightweight, can store lots of energy and can be repeatedly recharged. Analysts estimate that lithium demand is going to increase tenfold before the end of this decade as big manufacturers such as Tesla, Volkswagen, General Motors and other automakers introduce dozens of electric models. Other ingredients like cobalt are needed to keep the battery stable. Most of the raw lithium used domestically comes from Latin America or Australia, and most of it is processed and turned into battery cells in China and other Asian countries. Global demand for lithium batteries is expected to surge more than five-fold by 2030, public-private alliance Li-Bridge said recently, as more people opt for electric vehicles and energy storage systems. Demand for lithium batteries in the United States is expected to grow more than six times and translate into $55 billion per year by the end of the decade, but still the country is expected to depend on imports for supply, the report added. Active mining companies in the markets this week include: Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI), LithiumBank Resources Corp. (OTCQX: LBNKF) (TSX-V: LBNK), Atlas Lithium Corporation (NASDAQ: ATLX), Allied Copper Corp. (OTCQB: CPRRF) (TSX-V: CPR), Brunswick Exploration Inc. (OTCQB: BRXWF) (TSX-V: BRW).

Key Points:

PALM BEACH, Fla., April 24, 2023 /PRNewswire/ -- North America needs to race to find new supplies and production of lithium as automakers ramp up manufacturing of electric vehicles and demand grows for renewable energy options.
Lithium is used in electric car batteries because it is lightweight, can store lots of energy and can be repeatedly recharged.
Global demand for lithium batteries is expected to surge more than five-fold by 2030, public-private alliance Li-Bridge said recently, as more people opt for electric vehicles and energy storage systems.
The article continued: "Demand for EVs has soared over the past few years, as climate-conscious consumers snap up cars with electric powertrains, amid soaring fuel prices.

VAALCO Energy, Inc. Announces Preliminary Unaudited Fourth Quarter and Full Year 2022 Results and Provides 2023 Guidance

Retrieved on:

Friday, March 31, 2023

HOUSTON, March 31, 2023 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) ("VAALCO" or the "Company") today reported operational and selected preliminary unaudited financial results for the fourth quarter and full year of 2022.

Key Points:

HOUSTON, March 31, 2023 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) ("VAALCO" or the "Company") today reported operational and selected preliminary unaudited financial results for the fourth quarter and full year of 2022.
On October 13, 2022, VAALCO completed the business combination with TransGlobe Energy, Inc. (“TransGlobe”); as a result, VAALCO’s fourth quarter and full year preliminary 2022 results include the combined assets from the closing day through the end of 2022.
The impact from the combination is reflected in VAALCO’s fourth quarter 2022 results following the closing on October 13, 2022.
VAALCO had a reserve replacement of 428% compared to the 3.9 MMBOE of production in 2022.

Cardinal Energy Ltd. Announces 2022 Year-End Reserves

Retrieved on:

Tuesday, February 28, 2023

Natural gas, TSX, TPP, News, Ratio, CJ, Acquisition, FD, GLJ, NPV, Toronto Stock Exchange, Find, PDP, Light, Cryptocurrency, Airline, Oil, Bank, Security (finance), Development

CALGARY, Alberta, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX: CJ) is pleased to present the results of its independent reserve report effective December 31, 2022.

Key Points:

CALGARY, Alberta, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX: CJ) is pleased to present the results of its independent reserve report effective December 31, 2022.
One hundred percent of Cardinal's year-end 2022 reserves were evaluated by independent reserves evaluator GLJ Ltd. ("GLJ") with an effective date of December 31, 2022 (the "2022 Reserve Report").
Cardinal’s 2022 year-end reserves reflect the quality and sustainability of our low decline asset base.
Cardinal maintains a high percentage of reserves as producing with the P+PDP reserves accounting for 88% of the Company's TPP reserves.