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 7, 2008
+ Canadian Phoenix Resources Corp. is the new name for Arapahoe Energy Corporation
+ ConocoPhillips & Marathon Oil Corp. agreed to drill for natural gas in exchange for the state of Alaska's support of the companies' application to keep exporting Cook Inlet natural gas; in return, the state is supporting a two-year extension of the federal export license for the Nikiski plant, the only LNG export plant in North America, which converts 150 million cubic feet/day, all of it sold to Japan
+ crude futures as quoted by Bloomberg.com @6:40AM, MST; Nymex Crude Future US$97.52/barrel, Dated Brent Spot US$96.88/barrel, WTI Cushing Spot (friday's close) US$97.91/barrel; crude futures reached a record US$100.09 on Jan. 3, but have fallen back after breaching US$100/barrel two days in a row based on violence in Nigeria, tight energy stockpiles & a weaker U.S. dollar which triggered a surge of speculative buying, followed by trader profit taking & forecasts for mild weather in the U.S. north east, cutting demand for heating fuel
+ Daniel Chopra won US$1.1 million & Mercedes- Benz Championship at The Plantation Course, Kapalua, Maui, HI; (Stephen Ames was 3rd, Mike Weir was 4th),
+ Jacobs Engineering Group Inc. sub. Neste Jacobs Oy acquired Rintekno
+ NATCO Group Inc. agreed to acquire Linco- Electromatic Inc., US$23 million
+ Railpower Technologies Corp. closed $35 million equity financing
+ recession watch; U.S. stocks tumbled Friday, Nasdaq logging sharpest decline in nearly a year, after data showing rising unemployment stoked recession expectations; retail stocks slipped on reports of a lackluster holiday shopping season & shrinking U.S. factory production
+ Roundtable on the Environment report to the Harper government is expected to call for a carbon tax to help mitigate environmental conservation & economic development; aside from issues of how effective such a measure would be, oil producers would face heavy costs/penalties if such a program is adopted
+ TM Capital Corp. & Boston Corporate Finance Inc. merged
+ U.K. commercial real estate market is suffering, cyclical downturn has seen values falling by more than 10% amid concern downturn may be forerunner of things getting much worse against a backdrop of accelerating inflation & fading confidence across European markets
+ Canoro Resources Ltd. closed $30 million equity financing
+ CIBC has warned it may take a further US$2 billion charge in addition to $978 million already announced as a result of its exposure to U.S. subprime mortgages
+ Compton Petroleum Corporation completed its acquisition of WIN Energy Corporation
+ Comstock Resources Inc. closed acquisition of oil & gas properties & related assets from SWEPI LP, an affiliate of Shell Oil Company for US$170.0 million
+ Deep Down Inc. agreed to acquire Mako Technologies Inc.
+ Fairborne Energy Ltd. closed $100 million equity financing
+ Fairborne Energy Trust completed reorganization to an E&P company; Fairborne Energy Ltd.
+ GreenHunter Energy Inc. closed US$19.2 million equity financing
+ Husky Energy Inc. signed its formal agreement on its White Rose Expansion Includes Equity, Benefits & Super Royalty with the government of Newfoundland & Labrador
+ InterOil Corporation closed US$23.5 million equity financing
+ Inter Pipeline Fund closed $150,038,000 equity financing
+ Investment Dealers Association of Canada member firms approved a merger proposal with Market Regulation Services Inc.
+ Mariner Energy Inc. agreed to acquire additional Spraberry interests in the Permian for US$122.5 million & to acquire StatoilHydro's Gulf of Mexico shelf operations for US$243 million
+ Montréal Accord is what they call it; an agreement covers 20 of the 22 Canadian non-bank trusts that have issued asset-backed commercial paper, provides for the creation of three trusts, holding traditional assets, synthetic assets & subprime mortgages, respectively; providing for credit facilities to meet investors' liquidity needs, the agreement in principle, the ABCP restructuring is scheduled for completion by March 2008; stay tuned . . .
+ Nordic Oil and Gas Ltd. $1,642,899 equity financing
+ Nordic Oil and Gas Ltd. $1,354,399 equity financing
+ Peak Energy Services Trust & Wellco Energy Services Trust agreed to combine; to operate as Peak Energy Services Trust
+ Petroleum Development Corporation sold a portion of its North Dakota properties for US$34.7 million
+ PG&E agreed to acquire a 15.5% interest in El Paso Corporation's US$2 billion Ruby Pipeline (Opal, Wyoming to Malin, Oregon) project
+ Plains Exploration & Production Company agreed to sell oil and gas properties for US$1.75 billion to a subsidiary of Occidental Petroleum Corporation & XTO Energy Inc.
+ Pure Industrial Real Estate Trust closed $8,170,000 equity financing
+ SNC-Lavalin ProFac Inc. have taken over facility management of The Standard Life Assurance Company of Canada investment real estate portfolio
+ The Bank of New York Mellon acquired full ownership of ABN AMRO Mellon Global Securities Services B.V
+ Tracinda Corporation to spend US$684 million for 23% stake in Delta Petroleum Corporation
+ TUSK Energy Corporation closed $2.5 million equity financing
+ United Refining Energy Corp. closed US$465,600,000 IPO equity financing
+ U.S. Presidential race primary process is underway; Obama & Huckabee led Iowa Caucuses . . . stay tuned
+ Welton Energy Corporation closed $2,250,000 equity financing
+ Westside Energy Corporation agreed to combine with Crusader Energy Group
SHAKERS+Movers On The Move
+ Brian Cebryk, COF @ Marksmen Resources Ltd., resigned
+ Brian Hahn to Pres @ ATCO Gas
+ Brian Recatto to COO @ OMNI Energy Services Corp.
+ Bruce Shaw to Sr. VP & CFO @ Holly Corporation
+ Craig Fleming to Pres. & CEO @ Enersource Corporation
+ Dan McFadyen to Chair @ Energy Resources Conservation Board
+ Danny Herron to CFO @ VeraSun Energy Corporation
+ David Breakwell to Acting Deputy Minister @ Alberta Energy
+ David Doerksen to VP Marketing Strategy & Administration @ Cameco
+ David Williams to Pres. & CEO @ Noble Corporation
+ Dennis Sundgaard to Sr. Project Mgr., Oil Sands @ Enerplus Resources Fund
+ Don Cobb to CEO @ Production Enhancement Group Inc.
+ Doug Bloom to Pres. Western Canadian Operations @ Spectra Energy Transmission
+ Doug Haughey to Group VP @ Spectra Energy Transmission
+ Francois Marcotte to CFO @ Vantex Resources Ltd.
+ Gerry McLennan to CEO @ Alberta Gaming and Liquor Commission
+ Graham Wetter to Pres. & CEO @ Credit Union Central Alberta Ltd.
+ Heather Duncan to VP Human Resources @ Whiting Petroleum Corporation
+ Jack Davis stepped down as Pres., remains CEO @ Calgary Health Region
+ James Westmoreland to CFO @ @ Daybreak Oil and Gas Inc.
+ Joe Fardell to Pres. & CEO @ i4Media
+ Joseph Hansen to CFO @ Pacific Ethanol Inc.
+ Julio Bastarrachea, VP Mexico @ Tidelands Oil & Gas Corporation, died
+ Kalev Koop, to VP Sales @ Bowne Financial Communications
+ Knut Eriksen to Sr. VP - Global Execution @ NATCO Group Inc.
+ Larry Echelberger, Sr. VP Major Downstream Projects @ Marathon Petroleum Company LLC, retired
+ Lyndon James to Interim CFO @ United Fuel & Energy Corporation
+ Mara Pagotto to Chief People Officer @ Intrawest ULC
+ Mark Angelson to Chairman @ MidOcean Partners
+ Mark Crews to VP & Gen. Mgr. Oil Field Div. @ Lufkin Industries Inc.
+ Michael Rempel to Partner, National Securities Group @ Fraser Milner Casgrain LLP
+ Paul van Hezik to Country Director, The Netherlands @ First Industrial Realty Trust
+ Rick Charlton to Sr. VP, Asset Mgmt. @ WAM Development Group
+ Rob Schaefer to CFO @ Resin Systems Inc.
+ Robert Curcio to Exec. VP - Integrated Engineered Solutions @ NATCO Group Inc.
+ Robert Martin to Sr. VP Exploration @ Daybreak Oil and Gas Inc.
+ Ron Green to Pres @ Decision Dynamics Technology Ltd.
+ Ronald Mogel to Sr. VP & CFO @ OMNI Energy Services Corp.
+ Scott McDougall to Tax Associate, Calgary @ Lawson Lundell LLP
+ Shaun Jackson to Pres. & CEO @ Kingsway Financial Services Inc.
+ Thomas Rouse, CFO @ Patch International Inc., resigned
+ Tim Lindsey to Interim Pres. & CEO @ Daybreak Oil and Gas Inc.
+ Tim Maclean to VP Sales @ Bowne Financial Communications
+ Tony Salters to VP Bus. Dev. @ ATCO Pipelines
+ Willie Grieve to Chair @ Alberta Utilities Commission
MARK Your Calendar; Business Events, Functions etc.
Jan. 11; IFMA Calgary Chapter Lunch & Learn Event:"UNDERSTANDING LEED FOR COMMERCIAL INTERIORS", Calgary Chamber of Commerce, Presentation by Eric Toker, Principal of Toker + Associates; info/register: http://www.ifmacalgary.org
Jan. 17; IFMA Calgary Chapter FACILITY TOUR: City of Calgary's Water Centre; info/register: http://www.ifmacalgary.org
Jan 22 - 25; World of Concrete; Las Vegas Convention Center, Las Vegas; info/register: tcindric@HanleyWood.com more information: www.worldofconcrete.com/woc2008/public/enter.aspx ?left=0&nav=0
Feb. 1; 147th (Extraordinary) Meeting of the OPEC Conference, Vienna, Austria; http://www.opec.org/
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
Jan. 9; Vault Energy Trust, Calgary; Special Shareholder & Security Holder Meeting, approve combination
Jan. 15; Texas Gas & Oil Inc. , Buraby, BC; Special Meeting of Shareholders
Feb. 7; National Energy Group Inc., Dallas, TX, Special Meeting, dissolution of the company
Mar. 6; Panhandle Oil and Gas Inc. ; Annual Meeting, Oklahoma City, Oklahoma.
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
+ CN will buy the Athabasca Northern Railway (the only rail link to the oilsands) for $25 million; the company will spend another $135 million to upgrade the aging line
+ Pacific & Western arranged $198.1 million financing for Hamilton's Henderson General Hospital; EllisDon Corporation are doing the Hamilton Health Sciences' Henderson Redevelopment Project under Infrastructure Ontario's Alternative Financing & Procurement Program; financing was arranged with the assistance of the Gwich'in Tribal Council, an aboriginal organization that represents the Gwich'in in the Mackenzie-Delta of the Northwest Territories
+ The Ontario Teachers' Pension Plan (Teachers') completed purchase of 69.4% of Chilean water services operator Esval S.A. & subsidiary Aguas del Valle S.A. for $570 million
www.CalgaryOfficeSpace.com
office space available For Lease in Calgary:
for leasing/purchasing assistance, contact: Mark Kolke
email: mark.kolke@maxcomm.ca
http://www.calgaryofficespace.com
JUDICIAL SALE - CALGARY RE-DEVELOPMENT SITE - FOR SALE
"Do not spoil what you have by desiring what you have not; remember that what you now have was once among the things you only hoped for." - Epicurus
"You see things; and you say, 'Why?' But I dream things that never were; and I say, 'Why not?'" - George Bernard Shaw quotes
"A dreamer is one who can only find his way by moonlight, and his punishment is that he sees the dawn before the rest of the world." - Oscar Wilde
"Whatever you do, or dream you can, begin it. Boldness has genius and power and magic in it." - Johann Wolfgang von Goethe
"Do not lose hold of your dreams or aspirations. For if you do, you may still exist but you have ceased to live." - Henry David Thoreau
"Changing the path we walk costs little; a simple decision but consequences are often dramatic; changing an idea - consciously or in our dream - is the most powerful thing we do, it is not about dreaming our life - it is about living our dream." - Mark Kolke
"Golf is not a game of great shots. It's a game of the most misses. The people who win make the smallest mistakes." - Gene Littler
"Always make a total effort, even when the odds are against you." - Arnold Palmer
A golfer is in a competitive match with a friend, who is ahead by a couple of strokes. "Boy, I'd give anything to sink this putt," the golfer mumbles to himself. Just then, a stranger walks up beside him and whispers, "Would you be willing to give up one-fourth of your sex life?" Thinking the man is crazy and his answer will be meaningless, the golfer also feels that maybe this is a good omen so he says, "Sure," and sinks the putt. Two holes later, he mumbles to himself again, "Gee, I sure would like to get an eagle on this one." The same stranger is at his side again and whispers, "Would it be worth giving up another fourth of your sex life?" Shrugging, the golfer replies, "Okay." And he makes an eagle. On the final hole, the golfer needs another eagle to win. Without waiting for him to say anything, the stranger quickly moves to his side and says, "Would winning this match be worth giving up the rest of your sex life?" "Definitely," the golfer replies, and he makes the eagle. As the golfer is walking to the club house, the stranger walks alongside him and says, "I haven't really been fair with you because you don't know who I am. I'm the devil, and from this day forward you will have no sex life."
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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real estate, development, residential & commercial
Mark Kolke writes a daily column, Musings, after his morning walk. To subscribe (free) to receive his daily musings, write to ark.kolke@frameyourmessage.com. Musings are e-mailed daily to subscribers and are posted/archived on his blog 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 8
+ 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 9
+ 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 Jan. 10, 7PM http://mvpadvanced.freetoasthost.net
+ US residential market woes, sub-prime/asset back commercial crisis, inflation fighting, interest rates, oil prices, global warming & US presidential politics dominate the news landscape - hard for the ordinary person reading analysis paralysis to make head or tail out of what is happening or, more importantly, to determine corporate & personal decisions based on what is likely to happen; I've been predicting a US recession with major implications for Canada for some time - I see nothing on the horizon that changes that view
+ spring will bring a provincial election, possibly a federal one too; it will be interesting to see if status- quo prevails as it often does but look for some fancy- Stelmach footwork over the next few months as the 'how many billions are actually tucked away with cute accounting methods' the province will tell us about while issues of 'wouldn't a bullet train be dreamy' balance with health cost woes, staffing shortages & infrastructure backlogs
+ real estate values in Calgary, both residential & commercial will suffer some tremors in the 1st & 2nd quarters or 2008 based on 'over-supply' in office product & the ripple effect of US markets & credit tightening
+ the new year is underway, opportunities are boundless as is our capacity to flourish amid all the obstacles & difficulties that come our way - Happy New Year - best wishes for a healthy & prosperous 2008
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