Alberta Says Budget Deficit to Widen on Lower Oil Price

Alberta will record a wider budget deficit in the fiscal yearthat began Apr. 1 because of declining revenue from oil, FinanceMinister Doug Horner said in a Bloomberg report.The deficit will widen to a range between $2.3 billion and $3billion, up from an original forecast of $886 million, Horner saidon a conference call with media from the provincial capital ofEdmonton. The province's outlook for

This Is Your Energy Entry Point: Mark Lackey

This Is Your Energy Entry Point: Mark Lackey Oil prices are starting to creep back up while gas, coal and uranium are poised for moves this fall, according to Mark Lackey, long-time energy analyst now representing resource companies with the IR firm of CHF Investor Relations.In this exclusive interview with The Energy Report , Mark shares his current insights on energy markets and talks about a

Petroamerica Provides an Update on the Las Maracas-4 Well Results Production, Shares At Yr High

Petroamerica Oil Corp. (PTA.V) shares are currently trading at 19.5 cents, a yr high. The shares have climbed more than 18% today. The companyyesterday announced preliminary results of its Las Maracas-4 welldrilled on the Los Ocarros Block in the Llanos Basin of Colombia.The well was spud on July 30, 2012 and has reached total depth withelectrical logs indicating more than 65 feet of prospective

TSX Closes Up Near 60 Pts On Canada CPI, Reports of German Approval For ECB

Canada's main stock market extended gains Friday, a day after itbreached the 12,000 level for the first time since early May,buoyed by domestic and European economic news. It closed up nearly 60 points at day highs.On the home front, the relative health of the Canadian economywas highlighted as Statistics Canada revealed early today theconsumer price index advanced 1.3% in July from a year ago,

Wallbridge Terminates Booth River Option; Shares Hit New Year Lows

Wallbridge Mining Company Limited (WM.TO) has terminated itsagreement with 4763 NWT Ltd., pursuant to which Wallbridge wasgranted the option to acquire a 100% interest of certain mineralclaims located in Nunavut, Canada.Management has determined that in the current economic climateshareholders are best served by concentrating efforts on advancingthe company's platinum, palladium, nickel and

Arcan Resources Q2 Profit Rises to 8 Cents/Shr From Year-Earlier 5 Cents; Shares Extend Gains

Arcan Resources Ltd. (ARN.V) reported net income per share of 8cents in its second quarter, improving from 5 cents a year ago. Cash flow from operations improved to $16.4 million from $10.1million, as production rose to 5,254 barrels of oil equivalent perday from 2,695 barrels.Investors are reacting positively to the news, with the stock up1.4% at $1.45 at the start of Toronto trading. Shares

US Drought Subsiding, Slightly, But The Damage Is Done

America's worst drought in more than 50 years seems to be subsiding, slightly, as summer starts to wind down in the northern parts of the country and rain comes to the parched Southeast, according to the latest weekly U.S. Drought Monitor report.The U.S. Dept. of Agriculture estimates that 61.8 percent of the country's 48 contiguous states (excluding Hawaii and Alaska) are still under abnormally

Macro Enterprises Announces 2012 Second Quarter Results; Shares At Yr High

Macro Enterprises (MCR.V) today reported its 2012 2Q Results.Second quarter resultsConsolidated revenue was $27.8 million compared to $14.7 millionin the second quarter last year. The Company worked on two largerfacility projects in the quarter and several smaller jobs. In thesecond quarter last year, the Company worked on one larger facilityproject and several smaller jobs.Operating expenses

AMI Resources Reports that Newmont Terminates Option on Anuoro License

AMI Resources Inc. (AMU.V) has received from Newmont Ghana GoldLimited a Notice of Termination of the Option Agreement to earn aninterest in the Anuoro prospecting license in Ghana. Under theagreement, Newmont Ghana will provide the Company with a final datapackage of all their exploration programs on Anuoro.The majority of Newmont's work was concentrated in the northernportion of the Anuoro

Frontier Markets Harbor High-Reward Investment Opportunities: Carlos Andres

Frontier Markets Harbor High-Reward Investment Opportunities: Carlos Andres, theaureport.com/pub/na/14044.Select frontier markets, once eyed skeptically as fraught with danger, are now some of the most robust economies in the world. But the shares of companies exploring and producing in these markets often continue to lag based on long-held fears that are no longer valid. How does an investor

Enbridge Boss Calls Pipeline Safety Record Near Perfect, but Pledges Improvement: Report

The company proposing an oil pipeline across northern B.C. isdefending its safety record, which has come under attack over itsresponse to an oil spill in Michigan, Canadian Press reports.The president of Calgary-based Enbridge (ENB.TO) says in astatement issued today the company has the largest and most complexliquids pipeline system in the world, a system it operates with a99.999% safety

North American drill rig count falls

North American drill rig count fallsBHI, HAL, SLB, OIHBaker Hughes Incorporated ( BHI ) has announced that despite the rise in Crude Oil prices, its count on rigs fell in the last week.The services firm reported that the North American rig count totaled 2,233, down from 2,262 the week before and down from 2,354 in the same period a year ago. The drop reflected a decline of 33 oil rigs and 2 Nat

US Agriculture, Soy, Corn, Wheat Prices and Charts

US Agriculture, after the Closing Bell ReportWheat futures ended with gains in the teens to 0.20+ at all 3 exchanges. Wheat futures still ended lower on the week. Futures proved this week they need the Corn market for support. That will very likely remain the case next week, meaning focus on Corn crop size will be the primary fundamental for Wheat.Corn futures ended the week with slight gains

Teuton Resources Private Placement Oversubscribed, Increased to $1.3 Million

Teuton Resources Corp. (TUO.V) announced today that the privateplacement announced June 12, 2012 and amended June 28, 2012 hasbeen completed, subject to regulatory approval. Due to strongdemand it was oversubscribed again.The placement, which was originally increased from $576,000 to$960,000, has now been completed at $1,334,640.Funds will be used to further exploration of its many propertiesin

Energy Sector Updates

Energy stocks are higher this afternoon with the NYSE EnergySector Index climbing over 3.0%, buoyed by broader news on thestate of the economy after the Labor Department reported a surprisenet increase in new job hires during July. The S&P Energy Indexis up about 2.8% with crude oil for September delivery up now upover 5%, climbing $4.51 to $91.63 a barrel in NYMEX trade.In company news, Union

TSX in Triple Digit Surge on Strong U.S. Jobs Report

The Toronto stock market posted solid triple digit gains inafternoon trading after the U.S. July jobs report came in betterthan expected.The S&P/TSX Composite Index advanced 158 points to 11,664,after peaking at 11,687 earlier, as total U.S. nonfarm payrollsrose by 163,000, stronger than the 100,000 gain that wasprojected.All of the TSX's sub-sectors were higher, led by energy andmaterials, both

Oil Surges Most in a Month as U.S. Adds Jobs, Services

Weekly Fundamentals, Brent Continues to Outperfom WTI on Iran Supply and Forties Output Cut

While moving at a modestly bearish tone for most of the week, financial markets strengthened on Friday as the US non-farm payrolls beat expectations. The number of jobs gained +163K in July, up from the downwardly revised +63K a month ago.The market had anticipated the July addition would be +100K. The unemployment rate climbed higher to 8.3% in July, as the number of unemployed increased by +45K

Energy Stocks, Crude Oil Higher This Afternoon; Union Drilling Soars On Reversing Year-Ago Net Loss, Surprises Street

Top Energy StocksXOM +1.9%, near year highsCVX +2.0%, near year highsCOP +2%SLB +2.5%OXY +3.9%Energy stocks are higher this afternoon with the NYSE EnergySector Index climbing nearly 3.0% on positive sentiment after theLabor Department reported a surprise net increase in new job hiresduring July. The S&P Energy Index is up about 2.8% with crudeoil for September delivery up nearly 4%, climbing