Oil Company News Directory

TAG Oil Increases Net Daily Production

TAG Oil Ltd. (TSX:TAO,OTCQX:TAOIF) announced its results for the first fiscal quarter of 2015, commenting that it achieved average net daily production of 1,750 boe (74 percent oil), an 18-percent increase from the previous quarter.

Simba Energy Closes Private Placement

Simba Energy Inc. (TSXV:SMB,FWB:GDA,OTCQX:SMBZF) increased its non-brokered private placement to up to 4,118,009 units. The units will be offered at a price of C$0.06 per unit to raise gross proceeds of C$3,247,080.

Super Nova Petroleum Announces New President and COO

Super Nova Petroleum Corp., (CSE:SNP,PINKSHEETS:SNOVF) announced the appointment of Ben Chu as its new President, COO and director. Mr. Chu has extensive experience in the oil industry, and is tasked to lead Super Nova’s technical team of consultants and become an important member of the Company's management team.

Letho Resources Signs LOI with Stream Oil and Gas

Letho Resources Corp. (TSXV:LET) has signed a Letter of Intent with Stream Oil & Gas Ltd. whereby Letho has agreed to loan Stream up to C$5,000,000 which loan will be supported by the issuance of a convertible debenture to Letho. Subject to TSX Venture Exchange approval and entry into a definitive agreement, Letho will advance the loan in two separate tranches, with the first tranche amounting C$2.0 million and the second tranche amounting to C$3.0 million. The dates on which both tranches will be advanced are to be set out in the definitive agreement.