FACILITYCalgary, a compilation of news items & commentary of interest to people who have a real estate, infrastructure, construction, oil & gas or general interest in Calgary, brought to you weekly by MaxComm Communications, keeping you up to date on issues affecting 'business in Calgary'.
FRESH TODAY - Monday, January 28, 2008
+ Council of the Federation - Premier's meet in Vancouver today, focused on climate change issues
+ crude oil futures @ 6:00AM, MST, as quoted by www.bloomberg.com : Nymex Crude Future US$89.46/barrel, Dated Brent Spot US$90.22/barrel, WTI Cushing Spot (friday close) US$90.39/barrel; oil has dropped as falling global stock markets on speculation that an economic slowdown in the U.S. will spread to oil-consuming countries throughout the world; expectations are that OPEC is unlikely to agree to boost supply when ministers meet later this week
+ Davos 2008's World Economic Forum consensus indicates gloom - US recession & a wider economic slowdown; bankers meeting at the Swiss ski resort warn there are increasing risks of a global recession, while manufacturers countered they have yet to feel it in their business
+ Environment Canada is proposing to exclude facilities that produce less than 10,000 barrels of oil per day. The Harper government's 'Minimum Thresholds for the Greenhouse Gas Regulations' will exempt up to 10 million tonnes of greenhouse gas pollution from upstream oil & gas companies in its regulatory plan to fight global warming.
+ Federated Co-operatives Ltd. announced a plan for a $1.9-billion expansion of its Saskatchewan oil; expected to be completed in 2012, the expansion will increase production at the Regina plant by 30 per cent to 130,000 barrels a day
+ Jerome Kerviel, the trader accused by French bank Societe Generale SA of unauthorized dealing that led to 4.9 billion euros ($7.2 billion) in losses, has been charged with attempted fraud by the French financial police
+ Talisman Energy Inc. is acquiring a 3.06% working interest in the Tangguh LNG Project for US$212.5 million from CNOOC Limited
+ Tiger Woods earned US$ 936,000 + a Buick as he won the PGA Buick Invitational for the 4th consecutive year at Torrey Pines South Course, La Jolla, CA, his 62nd PGA tour victory
+ Alberta Clipper Energy Inc. announced its 2008 Capital Expenditures Budget of $15 million
+ Aurora Oil & Gas Corporation agreed to acquire Acadian Energy LLC
+ Bank of Canada lowered its overnight rate target by 1/4% to 4 %
+ Birchcliff Energy Ltd. announced its 2008 Capital Expenditures Budget of $105 million
+ CIBC closed $2.937 billion equity financing
+ Compton Petroleum Corporation announced its 2008 Capital Expenditures Budget of $410 million
+ ConocoPhillips & TransCanada Corporation announced that ConocoPhillips acquired a 50 % interest in the Keystone Oil Pipeline
+ Corridor Resources Inc. announced its 2008 Capital Expenditures Budget of $71 Million
+ Iteration Energy Ltd. & Cyries Energy Inc. announced they will combine, acquiring Cyries for $543 million; enterprise value $1 billion
+ Orleans Energy Ltd. announced its 2008 Capital Expenditures Budget of $30 million
+ Pacific Energy Resources Ltd. closed US$20,690,710 equity financing
+ Petrobank Energy and Resources Ltd. & Peerless Energy Inc. merger arrangement approved by shareholders
+ Quebecor World, the 2nd largest commercial printer in the world, filed for bankruptcy protection in Canada & the United States on after its banks failed to approve a $ 400 million rescue plan
+ Raytheon Company (sold its heavy oil extraction technology to Schlumberger
+ Tekoil & Gas Corporation engaged advisors to enhance shareholder value
+ Total Energy Services Trust announced its 2008 Capital Expenditures Budget of $6.8 million
+ U.S. Federal Reserve reduced interest rates by 3/4 of 1% in an effort to stem market losses & stave off recession; many pundits claim it is too little & too late
+ U.S. presidential politics: Obama won 55%t of the vote to Clinton's 27% in the South Carolina Democratic Party primary; former North Carolina Senator Edwards placed 3rd with 18 %
+ Williams Pipeline Partners L.P closed US$304.3 million IPO equity financing
+ Zargon Energy Trust completed its acquisition of Rival Energy Ltd.
SHAKERS + Movers on the Move
+ Alain Carrier to Managing Dir. Private Investments @ CPP Investment Board
+ Alex de Alvrez to VP Security @ Apache Corporation
+ Betsy Evans to Principal @ Matrix Solutions Inc.
+ Brady Whittaker to Exec. Director @ Alberta Forest Products Association
+ Bruce Ryan to VP Operations @ Devitt & Forand Contractors Inc.
+ Charlie Rate Exec. VP @ SNC-Lavalin Group Inc.
+ Colin Carlton to VP Investment Research @ CPP Investment Board
+ Dave Friesen to VP Sales North America @ CG Industrial Specialties Ltd.
+ David Goodin to Pres. @ Montana-Dakota Utilities Co. & Great Plains Natural Gas Co.
+ Donald Terry to Interim Pres. U& CEO @ Superior Offshore International Inc.
+ Flint Mitchell to Desk Head, West Power Trading @ Fortis Energy Marketing and Trading
+ Gary Boan to Pres. @ Devitt & Forand Contractors Inc.
+ Graeme Bunting to Construction Mgr. @ Devitt & Forand Contractors Inc.
+ Ivan Murgic to Director, Residential Property @ TransGlobe Property Management
+ James Burke to Exec. VP @ SNC-Lavalin Group Inc.
+ Joe Nuttal to Gen. Superintendent @ Devitt & Forand Contractors Inc.
+ Joseph Bronneberg to Exec. VP & CFO @ Altalink
+ Michael McPhie to Exec. VP Corp. Dev. @ Exeter Resource Corporation
+ Michael Teal to Corporate Controller @ Deep Down Inc.
+ Patrick Lamarre to Exec. VP @ SNC-Lavalin Group Inc.
+ Phil Armstrong to Sr. VP Commercial Banking @ Scotiabank
+ Phillip Ullman to Principal @ Matrix Solutions Inc.
+ Ron Wirth to Dir. Investor Relations @ Teton Energy Corporation
+ Scott Hagemann to Reservoir Engineering Mgr. @ Teton Energy Corporation
+ Shelly Gobin to VP & CFO @ Kingsway Financial Services Inc.
+ Stephen Coffey to Pres. @ Quest Capital Corp.
+ Steve Cannon to Sr. VP Commercial Banking @ Scotiabank
MARK Your Calendar; Business Events, Functions etc.
Feb. 1; 147th (Extraordinary) Meeting of the OPEC Conference, Vienna, Austria; http://www.opec.org/
Feb. 4 @ 3PM, Speech From The Throne, Opening of The Legislature, the Honourable Norman L., Kwong, C.M., A.O.E., Lieutenant Governor of Alberta, will deliver the Speech from the Throne, Alberta Legislature, Edmonton; broadcast live at: http://www.assembly.ab.ca
Feb. 8-10; Davis Cup Tennis, Canada vs. Mexico, Calgary Stampede Corral, 'box' ticket sales available now through Harold Milavsky's office: 403- 269-0631
Feb. 20; 7th Annual RealCapital Conference, Metro Toronto Convention Centre North Building, Toronto; info/register: http://www.realestateforums.com/realfinance/mission. html ; co-chairs: Andrew Phillips, Managing Director, Investment Banking, TD Securities Inc.& Karen Weaver, CFO, First Capital Realty Inc.
March 6 - 7; Houston Technology Center 4th Annual Energy Technology Venture Capital Conference, Marriott Houston Westchase; info/register: http://www.houstontech.org/en/cev/?634
Feb. 7; National Energy Group Inc., Dallas, TX, Special Meeting, dissolution of the company
Feb. 29; Algonquin Oil & Gas Limited, Calgary, Annual and Special Meeting of Shareholders
Mar. 4; The Bank of Nova Scotia, Edmonton, Annual Meeting of Shareholders
Mar. 6; Panhandle Oil and Gas Inc. ; Annual Meeting, Oklahoma City, OK
Mar. 18; ONEOK Inc.; Annual Meeting, Tulsa,OK.
Apr. 8; First Calgary Petroleums Ltd.; Annual & Special Meeting of Shareholders, Calgary
Apr. 10; Nav Canada, Annual Meeting of Shareholders, Moncton
May 5; Enbridge Income Fund, Annual Meeting of Unitholders, Calgary
May 8; Apache Corporation, Annual Meeting, Houston, Texas
MARK Your Calendar; 2008 Charity & Industry Golf Tournaments
note: if you are sponsoring / supporting a charity tournament in the Calgary area in 2008 we are happy to list them early here; just send your tournament data and contact information to: research@maxcomm.ca
INFRASTRUCTURE News / P3 / Go Green
+ PLANDFLEX CORPORATION will develop and or acquire commercial and institutional properties: Public Private Partnerships (P3), development for governments, NGOs, school boards, hospital boards, municipalities etc., build-to-suit developments for strong credit tenants location focus is smaller & major communities in Western Canada. Inquiries and/or property offerings to:
PLANDFLEX CORPORATION
Attn: Mark Kolke, President
Suite 1000, 888 - 3rd Street SW
Calgary, AB T2P 5C5
Phone: 403-444-6939
e-mail: mark.kolke@maxcomm.ca
+ B.C. Place in Vancouver is contemplating an interesting bit of deal-making; they want the City of Vancouver to amend development plans to allow the construction of several high-rise towers to fund stadium renovations. B.C. Pavilion Corp. chair David Podmore is calling for a P3 solution to see Vancouver's 25 yr, old landmark air-supported domed stadium get badly needed repairs & upgrades - including replacing the stadium's Teflon roof which could be paid for by allowing development on other corporation lands currently used as parking lots surrounding the building. The stadium will host the opening and closing ceremonies for the 2010 Winter Olympics
+ the Ed Stelmach government tabled its long awaited 'made in Alberta' climate change plan. The policy, which falls short of goals set by the Kyoto Protocol & the Harper government, relies heavily on carbon dioxide sequestration. If enacted, it will allow Alberta's greenhouse gas emissions to rise till 2020. The policy's benchmarks call for a cut to emissions by 200 megatonnes by 2050. The policy's foundation rests on using carbon capture & storage technology to cut industrial emissions.
+ Calgary Courts Centre had its grand opening; The 1 million sq. ft. facility houses both the Court of Queen's Bench & Provincial Court of Alberta with 73 courtrooms under one roof. It replaces five smaller court facilities that were scattered throughout downtown
+ Alberta government will, among other things, help complete a new digital library and renew mechanical and infrastructure systems at the University of Calgary, funding of $97.1-million includes:
$37.5 million for the Taylor Family Digital Library project as part of the integrated campus library system - this funding matches the $25-million donation made by Don and Ruth Taylor of Calgary in 2006 & expands on the previous $113 million investment in the virtual project which includes building a high density library storage facility
$42.5 million to upgrade the Health Sciences Centre's mechanical and ventilation systems
$17.1 million to replace, repair & upgrade roofs of multiple buildings
.... on the same day, a similar funding announcement was made for infrastructure upgrades at the University of Alberta in Edmonton - $168-million
+ City of Calgary is calling for Expressions of Interest to join the city in a P3 pitch to win the federal government's competition to choose a new home for the Portrait Gallery of Canada
Calgary Office Space For Lease
office leasing services
for leasing/purchasing assistance, contact: Mark Kolke
"Our best built certainties are but sand-houses and subject to damage from any wind of doubt that blows." - Mark Twain quotes
"Write injuries in sand, kindnesses in marble." - French Proverb
"The more sand that has escaped from the hourglass of our life, the clearer we should see through it." - Niccolo Machiavelli
"If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand." - Milton Friedman
"It's just a job. Grass grows, birds fly, waves pound the sand. I beat people up." - Muhammad Ali
"It isn't the mountain ahead that wears you out; it's the grain of sand in your shoe." - Rodan of Alexandria
"I know reality can shift like sand underfoot when a big wave surprises, so if I don't want the risk of stumbling or getting wet, I should not walk the beach, should not risk being washed away or tossed aside by powers much greater than me - but I walk beaches anyway." - Mark Kolke
"The trees taunt you; the sand mocks you; the water calls your name and they say golf is a quiet game." - unknown
"Time is like a handful of sand - the tighter you grasp it, the faster it runs through your fingers." - unknown
"The object of a bunker or sand trap is not only to punish a physical mistake, to punish lack of control, but also to punish pride and egotism." - Charles Macdonald
"The hardest shot in golf is a mashie at 90 yards from the green, where the ball has to be played against an oak tree, bounces back into a sand trap, hits a stone, bounces on the green and then rolls into the cup. That shot is so difficult I have made it only once."- Zeppo Marx
MaxComm Communications - Writing Services
Innovative strategies, inspiring work plans and cutting- edge initiatives; we are writers, editors and business communicators who help you frame your message right the first time, on time.
www.frameyourmessage.com is our website - featuring information on services, writer credentials - writing, speaking, coaching -
We have established a presence in Houston, Los Angeles and Maui - staffing up in each market with well credentialed writers in those markets with subject area expertise and availability. Our work is 99% English content for audiences in Canada, US, UK, Australia:
oil & gas, energy
environment
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Mark Kolke writes a daily column (posted at http://markmusing.com ) Musings, after his morning walk. To subscribe (free) to receive his daily musings, write to mark@markmusing.com Musings are e-mailed daily to subscribers and are posted/archived on his blog http://markismusing.blogspot.com & on his Musing site:
+ our objective is to feature information and links to articles which provide insights, ideas and services to help our readers access useful resources to help employees at all levels build on their skills.
+ the Toastmasters program offers an opportunity to improve professional skills; public speaking, leadership training, confidence building - a great way to give your career a boost as you climb the ladder. Toastmasters International - 210,000 members in 90 countries; 65 Toastmasters clubs in Calgary. Toastmasters offer a supportive environment, networking opportunities & a proven program to help people overcome their worst fear - public speaking.
+ Spoken Word Toastmasters . . meets every Tuesday at 5:30 PM at North Hill COOP community room (basement), 540 - 16ave., NE, Calgary, AB; contact club president for further info: nelson.keung@siemens.com . . next meeting January 29; http://members.shaw.ca/spoken_word
+ Singles and Friends Toastmasters, offers a 'singles only' format - opportunity for socializing & speaking; meets every Wed. @ 7 PM. Info: http://singlesnfriends.freetoasthost.info next meeting January 30
+ MVP Advanced Toastmasters Club, meets @ 7 PM, 2nd & 4th Thursday of the month @ Fluor facility in south Calgary; a club for experienced Toastmasters wishing to hone their skills in a place where the bar is set high; contact club President for further info: Mark.Kolke@frameyourmessage.com or Gerda.Timm@Fluor.com .. next meeting Feb. 14, 7PM http://mvpadvanced.freetoasthost.net
+ the Fed can't fix the spread; the U.S. Federal Reserve are trying to fix the recession risk factors triggered by a mortgage crisis & a stupidly overbuilt housing market, but their efforts have not been able to impact commercial real estate lenders; both in the U.S. & Canada, spreads/margins have put pressure on the market so borrowing is more expensive, loan to value ratios continue to squeeze & rates are rising but more importantly, lenders are often declining to lend at all on certain asset types or in markets they don't trust: Fed Chairman Bernanke's easing hasn't stopped the US$3.2 trillion commercial market from starting a slide that mirrors the housing decline, U.S. commercial property prices are forecast to decline 10% in 2008 from last year's peak after rising 60% since 2002
+ Ed Stelmach will paint Alberta as a renegade at the Premier's meeting in Vancouver today & over the next few weeks as a non-battle of rhetoric with Ottawa over greenhouse gas emissions - the 'made in Alberta' plan will pander to Alberta industry who 'get it' & the Toronto press who don't; Alberta is this country's smoke-stack . . eastern Canada & the federal government want our oil, our natural gas & our cash cow to milk . . but the notion the fault, responsibility & costs should land solely on the shoulders of Albertans is something Ed will rail against; outside the province this will be viewed as a guy reading the polls wanting a paper tiger to fight - while those of us here see it as an average Albertan view; while the jury is still out on Ed's long term appropriateness to be leader of the Alberta economy, clearly he is getting some of his positions right & that has nothing to do with an election call expected in early February
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