VANCOUVER, BC / ACCESSWIRE / June 17, 2015 / Michael Caetano (the “Concerned Shareholder“) wishes to advise the shareholders of Terra Nova Energy Ltd. (“Terra Nova“) (TSX Venture: TGC) that the Concerned Shareholder has provided notice to Terra Nova that it will nominate Michael Caetano, Kent Harold Edney, Robert Madzej and Peter John Cockcroft (the “Proposed Directors“) as directors of Terra Nova at the annual general meeting of the shareholders of Terra Nova scheduled on July 15, 2015 to be held in Vancouver, British Columbia (the “Meeting“).

The Concerned Shareholder has assembled a new board with extensive business and industry experience that, upon their election at the Meeting, will immediately focus on maximizing shareholder value by increasing Terra Nova’s interest in and development of Petroleum Exploration License (“PEL“) 112 and 444, raising funds on favorable terms, and conducting a full strategic review of recent transactions.

Concerns Over Recent Transactions

The Concerned Shareholder has serious concerns about recent decisions by management and the board of directors of Terra Nova (the “Board“) which has resulting in Terra Nova significantly decreasing its interest in each of PEL 112 and 444 while a related offshore company, Perseville Investing Inc. (“Perseville“), is increasing its interest in PEL 112 and 444.

Prior to February 2015, Terra Nova’s principal property was PEL 112 and 444 and it held a 25.8333% working interest in each of PEL 112 and 444 through a Farm-In Agreement (the “Agreement“) with Holloman Energy Corporation (“Holloman“). Pursuant to the terms of the Agreement, Terra Nova could earn up to an additional 29.166% interest in PEL 112 and 444 for a total interest of 55%.

On February 23, 2015, Terra Nova announced a capital injection of $3 million from Perseville for a 5.166% working interest in each of PEL 112 and 444. Perseville, a BVI corporation, is controlled by Carlo Civelli, who is the father of Nico Civelli, VP of Finance and a director of Terra Nova. Carlo Civelli was appointed as a senior advisor to Terra Nova on March 5, 2014. The Concerned Shareholder understands that prior to this purchase, Perseville had acquired a 25% working interest in PEL 112 and 444 from third parties for a purchase price of $2.1 million.

On March 30, 2015, Terra Nova announced that it completed heritage clearance for the upcoming drilling campaign in PEL 444. Henry Aldorf, Chief Executive Officer and Chairman of Terra Nova, stated that, ‘Terra Nova is now able to proceed in executing its drill program at significantly lower costs than previously anticipated.”

However on May 19, 2015, Terra Nova announced that it terminated the Agreement with Holloman, which provided that Terra Nova had the right to earn additional 29.16% working interest in PEL 112 and 444. Terra Nova stated that “… it reviewed the terms of the Agreement in light of the current oil environment and concluded there is potential to generate higher returns for its shareholders by funding a proportional share in exploration costs.” The Concerned Shareholder is concerned about the termination of the Agreement, which prevented Terra Nova from increasing its interest at a time when Perseville was increasing its own interest in PEL 112 and 444, especially as Terra Nova just announced reduced costs for the upcoming drill campaign.

The Concerned Shareholder believes that the Board and management of Terra Nova have allowed Terra Nova’s interest in PEL 112 and 444 to be diluted to just 20% and at the same time allowing for an opportunity for Perseville to increase its interest. The Concerned Shareholder believes that these actions are not in the best interest of Terra Nova and that such actions have benefited insiders of Terra Nova through their relationship with Perseville.

Plans for Terra Nova

If the Proposed Directors are elected to the Board, the Concerned Shareholder anticipates that the Proposed Directors intend to immediately undertake the following steps:

– leverage their good relationships with Holloman to negotiate and consummate a new agreement for PEL 112 and 444 with a view to increasing Terra Nova’s interest;
– investigate and review prior transactions involving Perseville and Terra Nova, including the identification of all directors, officers, and controlling shareholders of Perseville to determine compliance with corporate and securities laws;
– raise adequate funding to carry out PEL 112 and 444 exploration activities; and
– review other strategic opportunities, including corporate acquisitions, in order to enhance shareholder value.

Nominees

The Proposed Directors are all experienced business leaders with extensive backgrounds in finance, management and oil & gas technical operations. All have a demonstrated commitment to good corporate governance and to acting in the best interests of shareholders.

Michael John Caetano

Mr. Caetano graduated in 1995 from Seneca College in Business and also studied at the University Of Toronto.

From May 2008 to 2011, Mr. Caetano was President of a Venture Capital Company, Global Asset Management and assisted private and public companies in achieving all aspects of strategy, development and growth. This involved strategic tasks such as procurement, development and execution of investment analysis, investment fund deployment with a focus on return on investment, client relationships, managing and fostering co-operative relationships with clients and employees.

From January 2008 to present, Mr. Caetano has been a senior executive of Skyline Custom Homes and is responsible for the operations of multiple real estate projects. Based on his business and construction knowledge, he designs, builds and implements the various stages of residential and commercial construction developments.

Since 2009, Mr. Caetano has been involved in the oil and gas industry, helping companies restructure, raise capital and manage day-to-day operations to establish company growth. Mr. Caetano is currently a Director and Chief Executive Officer of Strongbow Resources Inc., a reporting issuer in British Columbia and Alberta and quoted on the OTCQB, since August 2013.

Kent Harold Edney

Mr. Edney is a Professional Petroleum Engineer with a diverse background in all aspects of oil and gas exploitation and development.

Mr. Edney began his career in 2001 as a reservoir engineer with Epic Consulting Services (now part of Baker Hughes) where he focused on reservoir simulations and evaluations for optimum development strategies. In 2003, he joined Thunder Energy as a production engineer, responsible for all aspects of operations from the wellhead to the sales point in Saskatchewan, Alberta and British Columbia as the company grew to over 8,000 boe/d. From mid-2006 to the end of 2009, Mr. Edney was an Area Engineer with Breaker Energy as the company grew to over 7,000 boe/d. Mr. Edney oversaw a team of geoscientists, landmen, accountants and field personnel responsible for managing 4,500 boe/d and capital budgets in excess of $50 million annually in southern Alberta. Mr. Edney was also the engineer responsible for all production, drilling, completions, exploitation and reservoir engineering duties. After the sale of Breaker Energy to NAL Resources in December 2009, Mr. Edney was an Area Engineer with NAL Resources managing 4,000 boe/d in central Alberta and helped with the transition of Breaker’s assets into NAL. In mid-2010 the senior management team of Breaker started Surge Energy Inc. and he joined the team as an Area Engineer responsible for the eastern Alberta and Manitoba assets. Mr. Edney joined Nextraction Energy in early 2011 and quickly progressed from Operations Manager to President in December 2011. As President, Mr. Edney effectively acted as both the Chief Executive Officer and Chief Operating Officer and was responsible for corporate governance, guidance and compliance, as well as all the day to day operations of the company in eastern Alberta and Wyoming, as the primary engineer and operations person. In April 2015, Mr. Edney joined Strongbow Resources Inc. as its Chief Operating Officer. Mr. Edney graduated with a Bachelor’s Degree in Oil and Gas Engineering (Internship Program) in 2003 from the University of Calgary.

Robert Madzej

Robert Madzej has over 10 years of experience in business development and finance. During his business ventures, he has demonstrated invaluable knowledge in corporate structuring and economical decision-making. Since October 2013, he has been a director of Strongbow Resources Inc. and served as its Chief Operating Officer from October 2013 to May 2015. Since May 2011, he has also been a small business advisor at TD Canada Trust. Also, he was a foreign exchange specialist at Citizens Bank of Canada from June 2008 to May 2011. Mr. Madzej graduated with a Bachelor of Business Administration, Accounting and Financing from Simon Fraser University in 2006.

Peter John Cockcroft

An oil industry veteran, Peter (a geology graduate) has a combination of technical excellence, strategic and corporate experience and international hands-on operational background. He has run operational offices (as Country Manager) in Indonesia, Thailand, Philippines, Pakistan, India, Vietnam, France and Singapore, and has had fiscal responsibility for 11 oilfield rejuvenation projects, nine new oil and gas field developments, and has run exploration and production operations in Thailand, Philippines, India, Pakistan, Australia and France, in both conventional and unconventional oil and gas projects. He has overseen exploration projects in West Africa, Yemen, Australia, Indonesia, Europe, producing fields in California, Sharjah, France, China, India, Egypt, Iraq, Ukraine and Russia, and unconventional projects in Australia, China, France and USA. He has held executive positions for BHP Petroleum, Premier Oil, Shell, has worked for the National Oil Companies of Indonesia and Korea as well as the Energy Adviser to the President of East Timor from 2002 until 2007.

From August 2008 to December 2012, Mr. Cockcroft was a director and Chairman of Blue Energy Limited. From July 2010 to April 2011, he was a director and Managing Director of European Gas Limited. From April 2011 to November 2014, he was a director of Nuenergy Gas Limited, and from May 2012 to May 2015, he was a director of Kairiki Energy Limited. In 2005 he was a Founder Director of Kuwait Energy Corporation, the largest private oil company in Kuwait.

As well as being a Distinguished Lecturer for the Society of Petroleum Engineers (“SPE”), he was a lecturer from 2014 and 2015 on “Negotiation for Oil and Gas” MBA Module for Edinburgh Business School. He has published in excess of 30 technical papers for the SPE, and has presented technical courses around the world in petroleum geology, marginal field development, reserves, and various commercial topics. Peter Cockcroft is a Certified Petroleum Geologist from the American Association of Petroleum Geologists.

Contact Info

Michael Caetano
Tel: 1.403.241.8912

This press release does not constitute a solicitation on behalf of the Concerned Shareholder. No proxy circular has been filed or disseminated in connection with this press release.

Neither 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.

This press release includes forward-looking statements, including statements regarding the Proposed Directors plans for Terra Nova. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Terra Nova to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and uncertainties include the results of any review of the recent transactions of Terra Nova and the ability of the Proposed Directors to negotiate a new agreement with Holloman.

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FARMINGTON HILLS, MI / ACCESSWIRE / June 17, 2015 / Ramco-Gershenson Properties Trust (NYSE: RPT) announced today that it will release its second quarter 2015 earnings results after the market closes on Tuesday, July 21, 2015. It will hold a conference call on Wednesday, July 22, 2015, at 9:00 a.m. eastern time. Shareholders and interested parties may access the call via:

Teleconference: (Toll Free) 877-407-9205, no participant code 

Internet Webcast: www.rgpt.com or www.investorcalendar.com

To participate, please dial-in/log-on at least 5 minutes prior to the scheduled start time in order to download and install any necessary audio software and/or to register for the call.

A replay of the call will be available through July 29, 2015. The toll-free replay number is 877-660-6853, conference ID# 13612212. A replay will also be archived at the aforementioned web sites for at least ninety days.

ABOUT RAMCO-GERSHENSON PROPERTIES TRUST:

Ramco-Gershenson Properties Trust (NYSE: RPT) is a fully integrated, self-administered, publicly-traded real estate investment trust (REIT) based in Farmington Hills, Michigan. The Company’s business is the ownership and management of large, multi-anchor shopping centers primarily in a dozen of the largest metropolitan markets in the United States. At March 31, 2015, the Company owned interests in and managed a portfolio of 79 shopping centers and one office building with approximately 16.7 million square feet of gross leasable area. At March 31, 2015, the Company’s core operating portfolio was 95.1% leased. Additional information regarding the Company is available on its corporate website: www.rgpt.com.

Company Contact:

Dawn L. Hendershot,
Vice President of Investor Relations and Corporate Communications
31500 Northwestern Highway, Suite 300
Farmington Hills, MI 48334
dhendershot@rgpt.com
(248) 592-6202

SOURCE: Ramco-Gershenson Properties Trust

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CORAL GABLES, FL / ACCESSWIRE / June 17, 2015 / Marijuana stocks have been fueled by volatility and speculation ever since the words “medical marijuana” and “stocks” were used in the same sentence. When marijuana became legal for recreational use in 2014 in the state of Colorado, there was a whole new world of opportunity for both entrepreneurs and for investors. Though many of these marijuana stocks are penny stocks the same ideology holds true as traditional stock investing and many are finding opportunity for profits in this growing space. Micro-economies are blooming as well and you can find companies within the marijuana industry which focus on anything from biotechnology similar to those of Insys Therapeutics Inc
(NASDAQ: INSY) and GW Pharmaceuticals PLC- ADR (NASDAQ: GWPH), to lifestyle beverages infused with cannabis or hemp just like what FBEC Worldwide Inc (PINKSHEETS: FBEC) has started to develop and bring to market.

GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) reported earlier this month that it has begun to undertake the second of two Phase 3 trials of their Epidiolex(R), administered for therapies concerning Lennox-Gastaut syndrome. This is a unique and debilitating form of “childhood-onset epilepsy.”

GW received Orphan Drug Designation from the U.S. FDA in 2014 for the drug and its treatment of LGS. Initial data from these trials are expected to be released during the first quarter of 2016. Since early April, the share price for GWPH has been on a consistent uptrend. The stock has moved up from lows of $89.65 to highs of $128.25 earlier in June & currently trading around $120 per share

Insys Therapeutics Inc has also focused on cannabinoid therapy. They develop novel drugs and delivery methods using methods such as sublingual sprays. The company’s two main products include Subsys(R), a sublingual Fentanyl spray to help with cancer pain and a generic version of Dronabinol capsules or THC capsules. On June 17 the Company announced that its CEO, Michael Babich and its CFO, Darryl Baker will be presenting at an upcoming conference, the JMP Securities Life Sciences Conference 2015 held at the St. Regis Hotel in New York City on June 24. A recently submitted “New Drug Application” to the FDA for a Dronabinol Oral Solution has the company and investors reacting favorably to an anticipated success as a more effective option compared to a soft gel capsule.

On the lighter side of the marijuana industry, there are still many who would like to take advantage of the biologic effects of the cannabis plant without the need for a prescription. In this case, the cannabis marketplace has begun to see a rise in infused products including hemp infused beverages. FBEC Worldwide has begun to develop a suit of these products, which take advantage of a super food like Hemp. The company has engaged California-based J&D Labs, Inc. in aiding the company with its processes to manufacture hemp-based nutraceuticals. Over recent weeks, the stock has enjoyed a health uptrend moving from $0.0456 at the beginning of June to highs of $0.12 last week (June 10).

For more information on marijuana stocks, click here: http://marijuanastocks.com/category/marijuana-trends-articles/.

Contact Information:

marijuanastocks.com
800-539-4313
pr@marijuanastocks.com

SOURCE: MarijuanaStocks.com

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NORTH VANCOUVER, BC / ACCESSWIRE / June 17, 2015 / Why are recent natural gas deals in the Western Canadian Sedimentary Basin (WCSB) getting done at very expensive metrics, when the consensus for Canadian gas prices in the near to medium term is lower, potentially a lot lower?

The obvious answer is LNG-Liquid Natural Gas exports; even though the first exports are realistically a minimum five years away.

That theory got a boost on June 11 as Petronas gave a conditional positive Final Investment Decision (FID) to its Lelu Island LNG project.

The first gas deal, the May 27 sale by Leucrotta Exploration (LXE-TSX; LCRTF-PINK) of 1,300 boe/d (87% gas) for $80 million in the Alberta Montney play. The buyer was unnamed but almost certainly was Tourmaline (TOU-TSX; TRMLF-PINK).

They own all the land surrounding the acreage that Leucrotta sold, and it’s in the vicinity of their Lower Montney Turbidite play (Turbidite=buried river delta) which is getting a lot of attention and capital.

Canadian brokerage firm National Bank reports that transaction metrics implied by deal are $61,500 per flowing barrel of oil equivalent (natural gas is converted to oil at 6:1, meaning 1 million cubic feet a day is 166.667 barrels of oil equivalent per day, or /boed) and 17x price-to-cash-flow (P/CF) at strip pricing.

Compare that to the 12-month average gas-weighted transactions at $32,270/boed and 6.2x P/CF, or an estimated $6,200/ac vs. historical Montney transactions at $4,400/ac (if production is assumed at $25,000/boed to make them all equal);

You can see those metrics are:

1. 50% higher on an acreage basis
2. almost double recent sales on a per flowing boe basis,
3. and triple the value on price to cash flow basis

Then on June 9, privateco Black Swan Energy Ltd. acquired another private company Carmel Bay Exploration Ltd. for $6,800 an acre, in a $200 million deal including debt.

In a depressed market looking for deals amongst potentially distressed sellers, neither of these transactions seem like a bargain. So what’s going on here? Why are some producers opening up their wallets (and sacred balance sheets) to pay top dollar for these assets?

Natural gas plays are being sold for much less outside the Montney-and farther away from west coast LNG terminals. Tamarack Valley Energy Ltd. recently bought more acreage in their core Wilson Creek region in south central Alberta. They bought 1,450 BOE/d (55% natural gas) and 6.44 million of 2P reserves for $54 million. And there was almost $60 million of infrastructure (e.g. pipelines; oil storage tanks called batteries and processing facilities) on the play!

Even valuing infrastructure at zero, these metrics come out to a seemingly miserly $37,500 per flowing barrel and $8.40/bbl of reserves–numbers that are more representative of a gas weighted ratio. Infrastructure definitely wasn’t part of the Leucrotta deal.

So right now Montney gas assets are selling at a premium, almost like it’s oil. (Crescent Point(CPG-NYSE/TSX) just bought the oil weighted Legacy Oil and Gas (LEG-TSX; LEGPF-PINK) for $70,000 a flowing barrel). That begs the question, why is someone paying a premium for natural gas today!? Gas inventories in storage in both Western Canada and the United States are still (very) high for this time of year.

Alberta is already at 70% of capacity with over four months to go in the injection season (which usually starts 2nd week of November)! Total storage in Canada is 143 Bcf higher than 2014 (as of June 8). Gas production is up in western Canada for the first time in five years, about 800mmcf/d, or 0.8 bcf/d. Exports to the US are only up 0.46 bcf/d (mostly to the drought stricken California market).

And because of forest fires, a lot of heavy oil production in western Canada was shut in May and early June, reducing natgas demand by 0.9 bcf/d for a time. That’s a bearish 1.7 bcf/d swing for awhile.

And later this summer, new natural gas pipelines from the Marcellus into the US Midwest by August and into Ontario in 2016 will further isolate WCSB gas, forcing it to reduce pricing to sell any product at all.

Canadian brokerage firm Scotia McLeod came out on June 16 saying prices needed to drop a minimum 10% quickly to keep competitive.

It’s not a pretty picture, for several years.

The story south of the border is not much better with current storage levels of 2,344 BCF being 47% above last year and 2% above the 5 year average. Current natural gas prices are reflecting this with AECO spot prices down almost 50% from last year at around $2.50 per GigaJoule.

This doesn’t paint a compelling picture for natural gas and certainly doesn’t explain why anyone would be paying top dollar for Canadian natural gas assets right now.

There are a couple potential reasons for this. Technology has improved a lot in the last year. A fracking system called “NCS multi-stage” is now being used in the Montney, where producers can frack one stage at a time and see how much gas or oil is coming out. It also allows producers to tell if frack stages are “communicating” or stealing hydrocarbons from the last frack stage. This means producers can tell exactly how many fracks they need to do per well; what is the optimal distance between fracks to maximize the amount of oil or gas the well can produce.

The NCS system has been around for awhile, but not in the deeper Montney. Producers I speak with say it’s generating a 30% increase in production for the same all-in price of a well.

The other reason is – LNG exports. In fact, western Canadian gas really is a binary trade on LNG exports (at least it is until the monster Marcellus formation in Pennsylvania peaks in its natgas production).

Think what you want about the chances of any Canadian natural gas shipping off either coast before 2020, there are several producers out there positioning themselves to be ready. And those producers are betting with real money.

These transactions show some producers aren’t worried about diversifying their asset base or getting the best deal. They are strategically positioning themselves for the day Canadian natural gas can compete on a world pricing basis and escape the depressed pricing of the domestic market.

As an investor, you have to factor this in to your decision. If you think it’s a pipe dream (pun intended) that investors will see LNG exports off the BC coast in our lifetime, then you’ll avoid stocks who are paying a premium for Montney assets.

Now, even this long term theory for land value is a bit suspect. The two leading LNG candidates, Petronas and Shell, are already the #5 and #6 gas producer in the WCSB, and they have big land positions.

A recent study by boutique energy firm Peters & Co. shows that Progress Energy (owned by Petronas) has 2109 square miles, or sections of land in Northeast BC. Shell has 886 square miles between NE BC and Alberta’s Deep Basin area.

Exxon and Altagas are next in line. Exxon has 840 square miles in the Alberta Montney. Alberta utility Altagas has a deal with Painted Pony (PPY-TSX; PDPYF-PINK) for its gas supply, and PPY says they have enough to support a 2 bcf/d LNG facility for 20 years.

The LNG player who was expected to be a big buyer of supply was BG Group, but they were recently bought out by Shell. That LNG plan is likely a no-go now.

So buying expensive Montney land thinking you can sell it to a major LNG player for as much or more in the coming 2-4 years…for investors, that’s a speculative trade.

Through all this, multiples in the sector have increased for the leading producers and even many of the mid-tiers in the Montney as condensate and natgas prices have declined. (Think 15x cash flow vs. 10x before.) That’s likely another reason some buyers, and Tourmaline is a leader, are paying what they are.

Not to say there isn’t value in the Montney-but it’s going to be tough to find if producers keep paying these types of prices.

SOURCE: Oil & Gas Investments

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