CANADA GAS CORP. - Fakten, Meinungen und News - 500 Beiträge pro Seite

[Bullentango]

CANADA GAS - EIN EXPLORER MIT VIEL POTENTIAL

Seit heute notiert Canada Gas Corp. erstmals an der Börse in Kanada.

Hier soll ein informativer Fakten- und Meinungsthread zu diesem aussichtsreichen Explorer entstehen.


http://www.canadagas.ca/



Langfristchart





Tageschart:

[Bullentango]

PROJEKTE


Prophet River

The Prophet River project is located in the peace river region, Western Canadian Sedimentary Basin, northeastern British Columbia, Canada, approximately 15 kilometers to the northwest of the Company’s Trutch project. The Western Canadian Sedimentary Basin is home to numerous world-class natural gas discoveries and consists of extensive oil and gas infrastructure. The Company has a 33 1/3% working interest in approximately 19 sections (19 square miles). Currently described as the Prophet River A and B lands, the company has successful encountered a new pool discovery in the Mississippian horizon and excellent gas detection in the Triassic Halfway Formation through the d-60-E/94-G-15 exploratory well.

This d-60-E well yielded an initial unstabilized flow rate as high as 7.943 MMcf.d equivalent from the Mississippian horizon (after intermittent testing). Although untested, the d-60 well also encountered excellent gas detection in the Triassic Halfway Formation. After reviewing all currently available data,including geological, petrophysical, well data, and 2 and 3D seismic, the Company has identified 7 additional prospective Mississippian and 9 additional prospective Triassic Halfway development locations at Prophet River. The Company intends to complete a more thorough evaluation of the Mississippian and Triassic Halfway Formations encountered in the d-60-E well when operations resume on the project ‘B’ lands. The property also consists on Devonian Slave Point targets.


Trutch

The Trutch project is located in the peace river region, Western Canadian Sedimentary Basin, northeastern British Columbia, Canada, approximately 15 kilometers to the southeast of the Company’s Prophet River project. The Company has varying interests in various sections and formations, described in greater detail below. Originally drilled seeking the deep Devonian Slave Point potential (+3000m), the Company has since placed 4 wells onstream (c-36-A, b-56-A, c-25-A, and a-38-A). The Company also owns an interest in 14,217 meters of six inch pipeline from the Tommy Lake field to the c-36-A well, and a total of 1,688 meters of four inch pipeline infrastructure. In addition, the company has shut in the a-13-A well, production pending, and has suspended the b-086-A well for the time being. Property development at Trutch is ongoing, with new development drilling and pipeline construction occurring every winter season.

Enerplus Resources Fund is Operator of the Triassic Halfway development project.

The Company anticipates continued development of the Triassic Halfway Formation winter 2008/09, including tie-in to production.

[vinod]

Zu Canada Gas gehört scheinbar WYN DEVELOPTments INC. WKN 899115.
Die neuesten Nachrichten kann man unter anderem bei www.citibank.de und dann Wertpapiere und Wkn. Die letzte Nachricht ist von heute morgen. Die machen eine Kapitale. Der Zusammenschluss zu Canada Gas kann man nachlesen bei Onvista unter 899115 Wkn.

[vinod]

Canada Gas Corp. besteht aus Wyn Developtment INC., Big Horn Petroleum Ltd., Flying Petroleum Ltd., und Tenaka Canadian Sed. nachzulesen bei onvista unter der Wkn. 89915

[Bullentango]

Antwort auf Beitrag Nr.: 34.278.813 von vinod am 11.06.08 09:08:17

Stimmt so nicht mehr.

Alles hier nachzulesen: http://www.canadagas.ca/press.htm

[Mauci]

der kurs stand schon mal bei ca. CAD 6,- (2005)
was ist hier passiert, weiss jemand mehr?
welches potenzial steckt in CJC?

ich werde mal hier recherchieren da der kurs für einen
gas explorer wirklich günstig ist. derzeit bei CAD 0,30

gruss

[Bullentango]

2008-07-02 19:11 ET - News Release

Mr. David McMillan reports

CANADA GAS CORP COMPLETES RESTRUCTURING

The price at which Canada Gas Corp. shares can be purchased on exercise of Canada Gas warrants (exchanged for Wyn Developments Inc. share purchase warrants) has been fixed at 26 cents per share. Letters of transmittal respecting the exchange of share purchase warrants will be delivered to warrantholders. Management of the company sought and obtained TSX Venture Exchange acceptance of the repricing of the said warrants from the consolidation ratio of five times the former warrant exercise price to a price reflecting the company's share market price postconsolidation.

The repricing of the warrants constitutes the final step in completing the company's restructuring and plan of arrangement, whereby shareholders received one new common share of the company for every five Wyn Developments shares held and one share of Wyn Metals Inc. for every 11 Wyn Development shares held, which share capital restructuring and plan of arrangement were made effective on June 10, 2008.

The company's shares commenced trading on the TSX Venture Exchange under the symbol "CJC." The first financial end of the year for the company subsequent to the completion of the arrangement is Jan. 31, 2009.

The company has granted a total of 2.3 million stock options to directors and employees of the company, exercisable at a price of 26 cents per share for a period of two years.

We seek Safe Harbor.

[Bullentango]

Canada Gas names Tran, McMillan to board

2008-07-09 19:39 ET - News Release

Mr. David McMillan reports

CANADA GAS CORP APPOINTS TRAN, MCMILLAN DIRECTORS, WOLTMAN ADVISOR

Canada Gas Corp. (formerly Wyn Developments Inc.) has made several appointments including Marc Tran, BComm, BA (economics) (currently chief financial officer), and Chad McMillan, BA (communications), to the board of directors. Warren Woltman, BSc (geology), has been appointed corporate adviser. Mr. McMillan has also been appointed vice-president, corporate communications.

The chief financial officer of the company since mid-2006, Mr. Tran is quite familiar with the intricacies of an exploring, developing and producing natural gas company. Mr. Tran graduated from the University of Calgary with a bachelor of commerce in finance and a bachelor of arts with a focus on energy and natural resource economics. Past work includes corporate finance and accounting for oil and gas companies including BP Amoco, PricewaterhouseCoopers and ARC Energy Trust. Mr. Tran is also CFO of several other TSX Venture Exchange reporting issuers, and is currently in his final year of the certified general accountants (CGA) program.

Mr. McMillan is also quite familiar with the operations of the company. A Simon Fraser University graduate with a bachelor of arts in communications, Mr. McMillan has several years of experience in communications, sales and marketing, management, capital markets, and the resource exploration industry, having worked in various capacities with such companies as Yorkton Securities Inc., Pro Line Sports Ltd. and Club Med Inc. He is currently president of a private consulting company, Animus Ventures Inc., having provided consulting services to various resource exploration and development companies over the past several years. Mr. McMillan will be responsible for the development and implementation of corporate communications and investor awareness strategies, including establishing, developing and maintaining the local, domestic and international retail and institutional awareness of Canada Gas, as well as initiating and facilitating corporate development initiatives. Mr. McMillan currently serves as an officer of three other TSX Venture Exchange-listed resource exploration issuers.

Mr. Woltman has a bachelor of science degree in geology from the University of Illinois and is a private natural resource company investor, possessing managerial and analytic experience spanning 40 years within the U.S. intelligence community and the aerospace industry. A retired army major, Mr. Woltman's insight will provide valuable feedback on the company's operations and future plans.

[Bullentango]

2008-07-31 02:16 ET - News Release

Mr. Dave McMillan reports

CANADA GAS ENGAGES SPROULE ASSOCIATES LTD., DISCUSSES UNCONVENTIONAL POTENTIAL, UPDATES ACTIVITIES.

Canada Gas Corp. has provided an update on progress the company has made. Canada Gas also wishes to clarify several inaccuracies regarding the company. Highlights of this update are summarized below and the full update can be viewed on the company's website.

Highlights:

* Canada Gas retains right to call for operations on Prophet River project;
* Sproule Associates Ltd., oil and gas consultants of Calgary, Alta., have been engaged to perform an independent exploration and development review of the Prophet River project.

A Canada Gas internal review of well data and assets suggests presence of Cretaceous Buckinhorse shale, Triassic Montney siltstone and Devonian Ft. Simpson and Muskwa shales presence on the company's lands, in addition to Triassic Halfway, Mississippian Shunda and Devonian Slave Point prospects. Thom Bainbridge, BAppSc, PGeol, the company's consulting geologist, suggests: "There is fundamentally no geological difference between the Ft. Simpson/Muskwa formation encountered on the Prophet River and Trutch lands, and that being explored and developed in the Horn River basin. There is also no fundamental geological difference in the Triassic Halfway and Montney formations being pursued by our neighbours and throughout the Western Canadian sedimentary basin."

President and chief executive officer, Dave McMillan, has commented on the company and market conditions. His comments are summarized below.

Since restructuring the company in mid-June, 2008, Canada Gas has continued to apply considerable efforts to move forward on several fronts. The company has always maintained an open relationship with its project partners, while defending shareholder interests and working to maximize shareholder value. Management has also pursued initiatives it believes are equally in the best interest of the partners shareholders, given feedback received from all participants of the Prophet River and Trutch projects.

To that end, the company would like to explain in greater detail the recent reserves issue of the Prophet River project as they relate to the company's financial statements. The company follows the full cost method of accounting for petroleum and natural gas interests, whereby all costs of exploration for and development of petroleum and natural gas reserves are capitalized. Costs associated with unproven reserves are reviewed by management to determine whether they have become impaired. If impairment occurs, the carrying value of the related interest will be reduced to reflect the estimated net realizable value.

The company is of the opinion that at this point in time, insufficient data exist to determine the potential reserves that might exist in this Mississippian Shunda zone, the estimated drainage area that would be used for a single vertical well and the economics of this zone. The company has subsequently revised its Jan. 31, 2008, reserves report to reflect this conclusion and as a result, eliminated its share of total annual proven and non-producing reserve from 2.46 billion cubic feet to nil. Based on the new information, the company completed an impairment test in order to assess the recoverable value of the oil and gas interests which resulted in a total impairment of $8,736,588 on all projects for the year ended Jan. 31, 2008.

The company continues to pursue effective strategies for the exploration and development of the Prophet River and Trutch projects. Canada Gas continues to approach its Prophet River partners with proposals to move the companies forward. Management believes time is of the essence in this regard, for the company and its shareholders, and does not accept the status quo of continuing delays. According to the Prophet River participation agreement with Tenaka Drilling Consortium Ltd., Canada Gas retains the right to call for operations on the project and appoint itself as operator, just as the other participants have that right under the agreement. The company's objective is to resume exploration and development on the property as soon as fiscally and logistically possible, with or without the participation of the project's partners.

To this end, Canada Gas has engaged the technical expertise of Sproule Associates, a well-known, respected and reliable, Calgary-based oil and gas consulting company, to prepare an exploration and development review of the company's assets, starting with Prophet River. Sproule is now in possession of the d-60-E/94-G-15 well file, has uploaded the Prophet River 3-D seismic data and evaluation is under way. At the request of the company, Sproule will review the Prophet River lands for the primary objectives of the Devonian Slave Point, Mississippian Shunda, Triassic Halfway and any prospective unconventional hydrocarbon-bearing formations, through existing well data, including the d-60-E well, 3-D seismic data, and any regional exploration and development data pertaining to these resources. Given the recent success in the application of multistage vertical fracturing solutions to various formations, the company believes an unconventional review of the data obtained from past work is also warranted. The company will be kept abreast of Sproule's findings as they occur and upon conclusion of the review, will be provided interpreted seismic-based structure and amplitude maps for up to eight major seismic events, including the events for the formations listed above and a letter report with its findings, conclusions and recommendations for Prophet River. Sproule's review will assist in preparing a full production test on the d-60-E/94-G-15 well, a final determination of an earning well location for the Prophet River lands, and plotting additional exploration and development targets and locations, if warranted. Sproule anticipates this initial review will be completed late August, 2008.

Also at Prophet River, the company and its project partners had assigned a third party independent auditor to review the d-60-E/94-G-15 well operations, which was approximately over 100 per cent over budget, equalling approximately $17-million. Such expenditures equally contributed to financial challenges facing the company in adequately testing the Mississippian Shunda and Triassic Halfway targets. This audit has suggested the operator and subcontractors could be responsible for nearly $2.2-million in miscoded and/or unauthorized expenditures. The company is in continuing discussion with the d-60-E operator to achieve a resolution satisfactory to all parties.

At Trutch, the company anticipates a September meeting with Enerplus Resources Fund Ltd. regarding winter development plans. (Enerplus recently acquired Focus Energy Trust Ltd.) According to the Trutch operating agreement, Enerplus must call for a minimum of one, maximum of three, Halfway development wells, with more subject to all parties' approval. Recent regional developments, discussed below, have the potential to positively impact the performance of the producing Triassic Halfway formation on the property and the company looks forward to discussing this potential with Enerplus ahead of the 2008/2009 winter development program. The company is currently producing from four Triassic Halfway wells on the property.

Also at Trutch, the company has recently received an offer from Northern Hemisphere Developments Corp. to purchase all of its Trutch assets. Canada Gas has respectfully declined the offer as it does not meet with the company's strategic plans.

The company is also pursuing the novation of its earned assets. This procedure, although largely a formality, will ensure the company has a direct relationship with the Trutch project operator, Enerplus Resources Fund, and ensure the company receives its production revenues directly. For the record, Canada Gas has been reconciling all Trutch production accounting on behalf of Tenaka Drilling Consortium, Flying A Petroleum Ltd. and Bighorn Petroleum Ltd., to date.

In addition, since early 2008, several factors have influenced interest activity in the Western Canadian sedimentary basin (WCSB), British Columbia, Canada, which lie within the company's assets. In addition to strong natural gas pricing and adjustments to Alberta's oil and gas royalty regime, the announcement of results from the application of an unconventional horizontal well multistage vertical fracturing technique has substantially increased industry interest in the Triassic Montney siltstone and Devonian Muskwa shale formations. There is also strong indication this technique may be effectively applied to other traditionally conventional prospects. As previously mentioned, the company has equally engaged Sproule's unconventional division for an assessment of this potential. After an initial review of the well logs for the abandoned Bougie Trutch b-62-D/94-G-15 Shell et al. Slave Point exploratory well (total depth over 3,000 metres), the shallow Halfway wells at Trutch and the d-60-E/94-G-14 Slave Point exploratory well at Prophet River (total depth over 3,000 m), the company has identified additional prospects on those properties in addition to the Triassic Halfway, Mississippian Shunda and Devonian Slave Point targets, including the Cretaceous Buckinghorse shale, Triassic Montney and Debolt, Devonian Muskwa and Ft. Simpson formations. As discussed, the company is preparing a more comprehensive analysis of these prospects, many of which appeared gas charged while drilling. The Slave Point formation was the primary target of the b-62-D and d-60-E wells, drilled in 2005 and 2006, respectively. Each encountered approximately 300 metres of the Triassic Montney formation and approximately 300 metres of the Devonian Ft. Simpson/Muskwa formations. Until these recent announcements and subsequent industry interest in 2008, the company had not considered the unconventional prospectivity of its assets. The d-62-B well was abandoned by the operator. The d-60-E well is currently shut in. Both wells can be re-entered.

Many analyses on the prospects of unconventional exploration and development in British Columbia have been published by the British Columbia Ministry of Energy, Mines and Petroleum Resources, Canadian Discovery Ltd., Tristone Capital Inc., Canaccord Adams, RBC, BMO and FirstEnergy Capital Corp., among others. It is important to note these research reports have not involved any specific analysis or reference to the company's assets. The company continues to build a file on the subject.

Several features emerge through the research:

* The application of multistage fracture stimulation of horizontal wells continues to evolve, but robust rates of return have been demonstrated in its application, in some cases exceeding 50 per cent. Alberta Clipper has also indicated gross Montney OGIP of 500 billion cubic feet across its 33 sections of Trutch lands and will be drilling Montney horizontal wells H2/08.
* Estimates of the Triassic Montney OGIP in British Columbia varies from eight billion to 60 billion cubic feet per section. Estimates of the Devonian Muskwa formation OGIP in British Columbia varies from two billion to 28 billion cubic feet per section over 30 metres thick. Estimates of the Devonian Ft. Simpson OGIP in British Columbia of 12 billion to 370 billion cubic feet per section over 200 metres thick.

As a result of this increased interest, British Columbia has witnessed record Crown land sales in 2008, reaching prices as high as $33,500 per hectare, or $6.5-million per section, for these prospective unconventional lands in the July 16, 2008, British Columbia land sale. Also notable, Royal Dutch Shell Ltd. announced a $5.9-billion takeover offer on July 14, 2008, for Duvernay Oil Corp.

The company has been paying close attention to these developments as the interest in these formations is high and previously unconsidered by the company. The company has been reviewing all available regional data including all well data. The company offers the following prospective assessment:

* In June, the company's adjoining neighbour to the south of Trutch, Alberta Clipper Energy Inc., described its prospective resource estimate on gross sections Montney OGIP as 500 billion cubic feet. In addition, it described applying the horizontal well multistage vertical fracturing technology to the Triassic Halfway formation. Canada Gas currently has seven wells which have encountered the Halfway formation. Four of these wells are currently producing (c-36-A/94-G-15, c-25-A/94-G-15, b-56-A/94-G-15 and a-38-A/94-G-15), one well is shut in (a-13-B/94-G-15), one well is suspended pending further work (b-086-A/94-G-15) and the d-60-E/94-G-15 well, as previously announced, has encountered 24 metres of prospective Triassic Halfway sandstone at Prophet River. The application of this enhanced completion method suggested to potentially improve production performance and recovery rates are certainly of interest to Canada Gas. In addition, Clipper's recent disclosure on the Montney is also encouraging. As Canaccord Adams notes in its analysis entitled the Full Montney, dated June 23, 2008, "Companies with larger landholdings, existing infrastructure and production, are competitively better positioned to maximize returns than are newer entrants; moreover, companies that have already executed drilling programs on their acreage (which Canada Gas has achieved) -- even if the drilling is oriented to other targets -- would have a better understanding of the geological potential that newer entrants."

Mr. Bainbridge, BAppSc, PGeol, the company's consulting petroleum geologist and qualified person in accordance with National Instrument 51-101, with nearly 40 years experience in the Western Canadian sedimentary basin, remarks:

"These developments in the WCSB with a specific focus on the Montney and Ft. Simpson/Muskwa formations, in addition to our neighbour's interests in employing horizontal multistage vertical fracturing techniques to the Triassic Halfway formation, bode well for the potential of the Prophet River and Trutch projects. While depth of burial remains a consideration, there is fundamentally no geological difference between the Ft. Simpson/Muskwa formation encountered on the Prophet River and Trutch lands, and that being explored and developed in the Horn River basin. There is also no fundamental geological difference in the Triassic Halfway and Montney formations being pursued by our neighbours and throughout the Western Canadian sedimentary basin. These situations bode well for the Prophet River and Trutch-Bougie areas as Prophet is a foothills anticline and syncline relationship, while Bougie-Trutch in a horst and graben environment, and as such both areas should have enhanced permeability due to associated fracturing of the reservoirs identified."

It is important to note that although these formations appear present on the company's lands, there can be no conclusion that these formations will contain economic quantities of recoverable reserves. Further analysis will be completed on these formations and more information will be provided when available. The company is encouraged by the opportunity to add the Buckinghorse, Montney and Muskwa unconventional targets to the conventional Devonian, Mississippian and Triassic targets on the Prophet River and Trutch assets. Once the Prophet River project review is complete, the company has asked Sproule to assess similar characteristics and opportunities at Trutch.

Since August, 2007, the company has been under considerable sustained market pressure. This pressure has been a function of both macro and micro factors, within and outside of the company's control. The junior resource sector in general has been depressed and the company is not alone in the selling pressure it has experienced. Dave McMillan, president and chief executive officer, comments on the situation:

"We have drilled two deep wells that were expensive and due to drilling complications were significantly over budget. Further, the operators advised these wells did not successfully encounter the primary target formation. Regardless, management and I believe there is tremendous opportunity in these lands. I have continued to support the company by subscribing for private placements at all levels both before and since the slide in the company's share price. Management believes that the low market valuation of Canada Gas is a consequence of significant selling pressure, and does not accurately reflect the true potential of the company's assets and strategic alternatives. We have described many promising and dynamic elements in this news release. The company does invite and welcome positive and progressive contributions from all, and will continue to aggressively pursue opportunities of wealth creation for shareholders, the marketplace and industry. The company is actively seeking promising alternatives to enhance shareholder value, including mergers, acquisitions, partnerships and the addition of strong technical management. Please be advised that this update is being presented as a strategic guide for shareholders and there is no guarantee that in the course of business the suggested outcomes will occur as described. The company's operations are fluid and strategic initiatives flexible. Please review the forward-looking statements at the bottom of this release if you are unfamiliar with the conditions influencing public companies."

For more information on the company please visit its website or contact the company toll-free at 1-888-685-5851.

We seek Safe Harbor.

[Bullentango]

2008-08-06 01:38 ET - News Release

Also News Release (C-FAB) Flying A Petroleum Ltd

Mr. David McMillan of Canada Gas reports

CANADA GAS ANNOUNCES INTENT TO ACQUIRE FLYING A PETROLEUM LTD.

Canada Gas Corp. has proposed to acquire all of the outstanding shares of Flying A Petroleum Ltd. on the basis of six Flying A shares for one Canada Gas share.

This proposal follows on an agreement announced September, 2007, whereby Bighorn Petroleum Ltd., Flying A Canada Gas Corp. (formerly Wyn Developments Inc.) and Tenaka Drilling Consortium Ltd. would amalgamate to consolidate each company's respective assets into one entity. Notwithstanding the agreement of the parties, negotiations did not result in a formal amalgamation and subsequently, Wyn Developments spun off its mineral assets, restructured its share capital and changed its name to Canada Gas. It has been the company's consistent belief that a combination of the companies holding shared interests in two northeastern British Columbia gas plays is the ideal strategic direction for the companies, enabling the attraction of strong technical management and financial assistance to position the projects for success. This offer represents the next step in the company's plan to bring about these benefits. The elimination of duplicate costs for audits, reserve reports, accounting, office space, management, legal fees and the like, would result in significant cost savings that could be redeployed. The increased scale of Canada Gas after the acquisition of Flying A will enhance financial strength providing improved access for project capital.

[Bullentango]

2008-08-12 17:36 ET - News Release

See News Release (C-FAB) Flying A Petroleum Ltd

Mr. Nash Meghji of Flying A reports

FLYING A PETROLEUM RESPONDS TO CJC NOTICE OF INTENTION OF UNSOLICITED TAKEOVER BID AND RECOMMENDS TO SHAREHOLDERS - NO ACTION BE TAKEN

As reported in Stockwatch on Aug. 6, 2008, Canada Gas Corp. proposed its intention to make an unsolicited offer to purchase all of the outstanding common shares of Flying A Petroleum Ltd. on the basis of six common shares of the company for one CGC share.

To assist the company's board of directors in fulfilling its fiduciary duties, the board of directors shall form a special committee of independent directors and retain investment bankers to provide independent financial advice regarding the CGC offer and all of the company's strategic alternatives. The board of directors is in the process of retaining independent legal counsel.

[Bullentango]

2008-08-27 16:24 ET - News Release

See News Release (C-BHP) Bighorn Petroleum Ltd

Mr. Albert Raponi of Bighorn reports

INTENTION TO MAKE COMPETING BID

Bighorn Petroleum Ltd. intends to make a competing bid for all of the issued and outstanding common shares of Flying A Petroleum Ltd. at an offer price of one Bighorn common share for every two Flying A common shares.

Due to the current cease trade order issued against Flying A, the company is unable to negotiate a takeover bid offering with Flying A at this time, however, the company will proceed with presenting an offer to management of Flying A as soon as securities laws will allow for such negotiations. Bighorn is announcing its intentions at this time in order to advise both Flying A shareholders and its own shareholders that despite Canada Gas Corp.'s recent announcement of its intent to make a takeover offer to acquire the common shares of Flying A, Bighorn has not waivered from its intent to complete its proposed business combination with Flying A.

For the past year Bighorn and Flying A have worked together toward merging their respective interests in oil and gas projects located in northeastern British Columbia. After a three-party amalgamation failed to complete earlier this year, Bighorn and Flying A signed a joint operation and co-operation agreement pursuant to which they agreed to joint venture with respect to the joint operation of their respective 33-1/3-per-cent working interests in the Prophet River project located in northeastern British Columbia together equaling a 66-2/3-per-cent working interest. Pursuant to this agreement, the companies agreed to jointly work together to carry out exploration and development projects on the Prophet River project. Bighorn and Flying A have been working together under this agreement since April, 2008.

Concurrently, the companies have been collaborating on a restructuring of their companies and businesses as set out in the company's news in Stockwatch on April 17, 2008. During the past three months, while addressing the comprehensive regulatory reviews imposed on each company, Bighorn has also been preparing the documentation necessary to complete this previously announced business combination. However, in light of the recent announcement by Canada Gas Corp., management of Bighorn now believes that it is prudent to complete its business combination with Flying A by way of a competing bid.

The company's intended competing bid will take the form of a formal takeover bid offer which will be commenced, as soon as securities laws permit, through negotiations with management of Flying A, followed by the mailing of a formal offer and takeover bid circular to Flying A shareholders in compliance with all regulatory requirements. The company's competing bid will be subject to customary offer conditions, such as receipt of all required regulatory approvals and acceptance of the offer by holders of at least 51 per cent of the outstanding common shares of Flying A calculated on a fully diluted basis.

Highlights of the intended competing bid:

* For every two Flying A common shares, the company will offer one Bighorn common share. The company expects to issue approximately 44,124,785 common shares pursuant to this transaction, representing approximately 116 per cent of Bighorn's current outstanding common shares.
* Based on the preceding 10-day volume-weighted average price of Bighorn's common shares on the TSX Venture Exchange, the value of the offer is three cents per Flying A common share.

Compelling combination:

* Bighorn represents a complementary strategic fit for Flying A, as the combination of the assets of Flying A and Bighorn will result in increased asset diversity and stability from that currently experienced by Flying A. The resulting company will be positioned for long-term industry growth and leadership.

* The combination will add continued participation by Flying A shareholders in Flying A's Northern British Columbia properties and any potential synergies with Bighorn. Flying A shareholders, through their ownership of Bighorn common shares, will continue to participate in any increase in the value of Flying A's projects.

* The combination will provide an improved financial platform and flexibility to help develop the companies' properties. Bighorn's acquisition of Flying A will provide a stronger financial platform, which will help to secure the funds that are required to finance the Prophet River and the Bougie Trutch projects, as well as any other projects that the companies may acquire, eliminating the potential substantial dilution to shareholders that would be required to finance these projects separately.

* The combination will result in a strong strategic synergy as a result of the commonality of interests between Flying A's oil and gas projects and those of Bighorn.

It has been the company's consistent belief that a combination of the companies holding shared interests in two northeastern British Columbia gas plays is the ideal strategic direction for the companies, enabling the attraction of strong technical management and financial assistance to position the projects for success. Bighorn's intention to make a competing bid represents the next step in the company's plan to bring about these benefits. The elimination of duplicate costs for audits, reserve reports, accounting, office space, management, legal fees and the like is expected to result in significant cost savings that can be redeployed. The increased scale of Bighorn after the acquisition of Flying A will enhance financial strength providing improved access for project capital.

Acquisition of Tenaka

The company also wishes to announce its concurrent proposal to acquire all of the shares of Tenaka Drilling Consortium Ltd., the operator of the D-86 well in northeastern British Columbia.

It is expected that this acquisition will facilitate the transfer of the operations license held by Tenaka to act as an operator for drilling and operating oil and gas wells in British Columbia, and will help in the easy transfer of information to conduct operations in northeastern British Columbia.

Update on Prophet River project

The company is in the process of planning exploration and development activities for the winter of 2008/2009.

The company is in possession of an interpreted 3-D seismic map with locations picked by a geophysicist for drilling further locations at Prophet River. Together with its industry participants in the Prophet River project, it is hoped that a well location will be picked in the near future.

We seek Safe Harbor.

[Bullentango]

Canada Gas decides to abandon Flying A Petro takeover

2008-08-29 15:28 ET - News Release

Also News Release (C-FAB) Flying A Petroleum Ltd

Mr. David McMillan of Canada Gas reports

CANADA GAS ELECTS NOT TO PROCEED WITH PROPOSED ACQUISITION OF FLYING A PETROLEUM LTD.

After consideration, Canada Gas Corp.'s proposal to acquire all (100 per cent) of the outstanding shares of Flying A Petroleum Ltd. for the consideration on the basis of six Flying A shares for one Canada Gas share will not proceed with a proposed takeover bid for Flying A Petroleum (see press release in Stockwatch on Aug. 6, 2008).

We seek Safe Harbor.

[onkelen]

saboteure am werk schon seit dezember


Blast Damages Fourth Western Canada Gas Well Site
AFX News Limited Monday, January 05, 2009


Police are investigating what appears to be the fourth bombing of an EnCana Corp natural gas facility in the Western Canadian province of British Columbia, authorities said on Monday.

The Royal Canadian Mounted Police said workers for the country's largest energy company found a partly destroyed metering shed at a well near Tomslake, in northeastern British Columbia, on Sunday.
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No injuries or gas leaks were reported as a result of the explosion, south of Dawson Creek, near the Alberta provincial boundary.

"The well was shut in as a precaution. It's a single-well site," EnCana spokesman Alan Boras said. "Because of the incident, the site was turned over to the RCMP for investigation."

Three other EnCana energy facilities in the region have been damaged by explosions since October, and police have yet to announce any suspects.

In early December, investigators appealed to the public for help.

They said the bombs could have been planted by one person acting alone or a group with some grievance toward the company. Police also said they believed the saboteur, or saboteurs, lived in the region.

Gas well valves and other equipment owned by other energy companies have also been vandalized and tampered with in recent weeks.

EnCana's damaged wells produce gas from the Montney tight sands formation, one of a host of unconventional gas plays in North America that the industry has targeted for billions of dollars of investment.

All four were drilled within the last five years, Boras said.

Tight sands and shale gas deposits, located in such regions as British Columbia, Texas and Louisiana, are known for immense size, but require prolific drilling and expensive rock fracturing techniques to maintain production.

Copyright 2009 AFX News Limited. All Rights Reserved.

[Bullentango]

So, es scheint die Talsohle ist durchschritten und nun beginnt wieder ein steiler Anstieg. Erfolgsversprechende News werden bald folgen!