Archive for May, 2011
American Eagle Energy Inc. Announces Sale of Partial Interest in Spyglass Project in North Dakota
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American Eagle Energy Inc. Announces Sale of Partial Interest in Spyglass Project in North Dakota
Billings, MT, May 31, 2011 - American Eagle Energy Inc. (OTCBB: AMZG; “American Eagle” or the “Company”) is pleased to announce on May 31 that the Company, and its proposed merger partner Eternal Energy Corp., and a third party signed two related Purchase and Sale Agreements for the sale by American Eagle and Eternal Energy of half of their respective interests in the Spyglass Project located in Divide County, North Dakota. The closing of the first transaction occurred today and relates to the sale of an undivided 50% interest in approximately 8,188 net acres for approximately $7.165 million to be divided equally between American Eagle and Eternal Energy. Up to an additional undivided 50% interest in 714 net acres may be sold to the third party on the same terms and conditions as part of the first transaction in the near term. The closing of the second purchase and sale agreement is currently scheduled for July 26, 2011, and relates to the potential sale of an undivided 50% interest in approximately 1,096 additional net acres for approximately $959,000 to be divided equally between American Eagle and Eternal Energy. The further closing of the first transaction and the closing of some or all of the second transaction remains subject to confirmation by the purchaser of certain aspects of title or other previously granted preferential sale rights. The purchaser is a wholly-owned subsidiary of a publicly traded company with a market cap in excess of $10 billion.
American Eagle and Eternal Energy have recently sought approval for six 1,280 acre spacing units in an area of the Spyglass Project in which they expect to operate and currently plan to drill two horizontal wells in the near term. Eternal Energy will retain operatorship for the project.
The Spyglass Project is a Bakken and Three Forks play in northern Divide County, North Dakota, that has seen a recent increase in drilling in the area. American Eagle and Eternal Energy hold non-operated working interests in several wells drilled in 2011 by SM Energy and by Samson Resources. During the remainder of this year, American Eagle and Eternal Energy expect to participate in up to four additional non-operated wells to be drilled by these parties.
Richard Findley, the Company’s Chief Executive Officer stated, “American Eagle is excited to consummate this sale, which will provide a significant capital influx to the Company while it still retains a major interest in its Spyglass Project. The ability to accelerate our strategic growth plan in the near term is an important component of this transaction.”
About American Eagle Energy Inc.:
American Eagle Energy Inc. is an oil and gas company engaged in the exploration of petroleum and natural gas. The company was incorporated in Nevada on March 14, 2007 to engage in the acquisition, exploration and development of natural resource properties.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements relating to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, potential contracts, and/or aspects of litigation. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, American Eagle Energy Inc. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions. Persons are encouraged to read our Annual Report on Form 10-K for the eight-month period ended December 31, 2010, our Quarterly Report on Form 10-Q for the three-month period ended March 31, 2011, and our other documents filed with the Securities and Exchange Commission for meaningful cautionary language in respect of forward-looking statements in this press release. Interested persons are able to obtain free copies of filings containing information about the Company at the SEC’s internet site ( http://www.sec.gov ). The company assumes no obligation to update any of these forward-looking statements.
For More Information Contact
Richard Findley
Chief Executive Officer
American Eagle Energy Inc.
406-294-9765
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Stewart to Lead Ohio Gas Association
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Stewart to Lead Ohio Gas Association
Columbus, OH, May 27, 2011 - The Ohio Gas Association (OGA) announced that State Senator Jimmy Stewart, of Albany, has been named president of OGA, effective July 1, 2011. Stewart has announced plans to resign his 20th Senate District seat at the conclusion of his obligations during the current session. Stewart will take the helm of OGA as the organization enters its 40th year of service to the natural gas industry.
Prior to serving in the Ohio Senate, Stewart was elected to the Ohio House of Representatives in 2003, and also served on the Athens City Council.
He holds a bachelor’s degree in economics from Marshall University and a master’s degree in taxation from Xavier University.
“We’re fortunate to have Jimmy Stewart as the new leader of OGA,” said Robert Black, chairman of the Ohio Gas Association. “With the many issues and opportunities facing Ohio’s natural gas industry, his legislative and administrative experience, as well as his commitment to our communities, will be tremendous assets to our members, our industry, and our entire state.”
The Ohio Gas Association (OGA) is a natural gas trade organization which represents more than 30 local distribution companies and cooperatives. The member companies of OGA serve more than 3.6 million customers in Ohio. Additionally OGA represents the vast majority of all intrastate and interstate gas transmission firms, as well as more than 10 natural gas commodity marketers whose customers include residential, commercial and industrial gas users.
For More Information Contact
Louis Bonasso
(614) 659-5990
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OSHA, National Council of La Raza form Alliance
May 26, 2011
Contact: Office of Communications
Phone: 202-693-1999
OSHA, National Council of La Raza form Alliance
WASHINGTON – The Occupational Safety and Health Administration and the National Council of La Raza (NCLR) signed an Alliance May 20, to foster safer and more healthful American workplaces. The Alliance will provide NCLR affiliates with information, guidance and access to health and safety training resources to reach low-wage, limited basic education, and other vulnerable worker populations in the construction, healthcare, service and “green” industries.
“About 12 Latino workers die on the job every week while doing the most difficult, unhealthful and dangerous jobs in America,” said Assistant Secretary of Labor for Occupational Safety and Health Dr. David Michaels. “The combined efforts of this Alliance will help improve Latino workers’ ability to exercise their workplace rights, and, through enhanced safety awareness, help ensure that they return home every day safe and unharmed.”
OSHA and NCLR will use the Alliance to connect with vulnerable and hard-to-reach workers through NCLR’s affiliates. NCLR is the largest national Hispanic civil rights and advocacy organization in the United States. The organization provides research, analysis and support, from a Latino perspective, in areas including health, education and employment. NCLR outreach efforts affect more than 2.6 million Hispanic workers each year.
Through the Alliance Program, OSHA works with groups committed to worker safety and health to prevent workplace fatalities, injuries and illnesses. These groups include unions, consulates, trade or professional organizations, faith- and community-based organizations, businesses and educational institutions. OSHA and the groups work together to develop compliance assistance tools and resources, share information with workers and employers, and educate workers and employers about their rights and responsibilities. Alliance Program participants do not receive exemptions from OSHA programmed inspections.
Under the Occupational Safety and Health Act of 1970, employers are responsible for providing safe and healthful workplaces for their employees. OSHA’s role is to assure these conditions for America’s working men and women by setting and enforcing standards, and providing training, education and assistance. For more information, visit http://www.osha.gov.
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U.S. Labor Department news releases are accessible on the Internet at www.dol.gov. The information in this release will be made available in alternative format upon request (large print, Braille, audiotape or disc) from the Central Office for Assistive Services and Technology. Please specify which news release when placing your request. Call 202-693-7828 or TTY 202-693-7755.
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OSHA, National Council of La Raza forman Alianza
27 de Mayo, 2011
Contacto: Office of Communications
Telefono: 202-693-1999
OSHA, National Council of La Raza forman Alianza
WASHINGTON – La Administración de Seguridad y Salud Ocupacional, y National Council of La Raza (NCLR) firmaron una Alianza el 20 de Mayo, con el propósito de fomentar lugares de trabajo Americanos más seguros y saludables. La Alianza les proveerá a organizaciones afiliadas a NCLR información, orientación, y acceso a recursos de adiestramiento para trabajadores de bajos ingresos, trabajadores con educación básica o limitada, y otras poblaciones de trabajadores vulnerables en los campos de construcción, salud, servicios e industrias “verdes”.
“Aproximadamente 12 trabajadores latinos mueren en el trabajo cada semana, realizando los trabajos mas difíciles, poco saludables, y peligrosos en America,” dijo el Secretario Auxiliar de Trabajo para Seguridad y Salud Ocupacional, Dr. David Michaels “Los esfuerzos combinados de esta Alianza ayudaran a mejorar la capacidad de trabajadores latinos para ejercer sus derechos en el lugar de trabajo, y, al aumentar su conocimiento de seguridad, ayudaran a asegurar que ellos regresen a casa cada día seguros y sin daño.”
OSHA y NCLR usarán la Alianza para conectar con trabajadores poco accesibles y vulnerables a través de las organizaciones afiliadas a NCLR. NCLR es la organización nacional hispana de derechos civiles y activismo mas grande de los Estados Unidos. La organización provee los resultados de investigaciones, análisis y apoyo, desde una perspectiva latina, en áreas que incluyen salud, educación, y empleo. Los esfuerzos externos de NCLR afectan mas de 2.6 millones de trabajadores hispanos cada año.
A través del Programa de Alianzas, OSHA trabaja con grupos comprometidos a la seguridad y salud de trabajadores, para prevenir incidentes fatales, heridas, y enfermedades. Estos grupos incluyen sindicatos, consulados, organizaciones profesionales o de industria, organizaciones de comunidad o religiosas, empresas e instituciones de educación. OSHA y los grupos trabajan juntos para desarrollar recursos y herramientas de asistencia en cumplimiento, para compartir información con trabajadores y empleadores, y para educar a estos sobres sus derechos y responsabilidades. Participantes del programa de Alianzas no reciben exención de inspecciones programadas de OSHA.
Bajo la ley de Seguridad y Salud Ocupacional de 1970, empleadores son responsables por proveer lugares de trabajo seguros y saludables para sus empleados. El rol de OSHA es asegurar estas condiciones para los trabajadores de los Estados Unidos, estableciendo estándares y vigilando que se mantengan, proveyendo adiestramiento, educación y asistencia. Para obtener más información, vaya a http://www.osha.gov.
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U.S. Labor Department news releases are accessible on the Internet at www.dol.gov. The information in this release will be made available in alternative format upon request (large print, Braille, audiotape or disc) from the Central Office for Assistive Services and Technology. Please specify which news release when placing your request. Call 202-693-7828 or TTY 202-693-7755.
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NPRA Explains Benefits of Keystone XL Pipeline
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NPRA Explains Benefits of Keystone XL Pipeline
Washington, DC, May 27, 2011 - The Keystone XL pipeline – which would transport oil from Alberta to refineries in Texas – would enable the United States to reduce its reliance on oil from unstable parts of the world, create American jobs, and strengthen America’s economic and national security, the president of the National Petrochemical & Refiners Association wrote in a letter to two members of Congress May 26, 2011.
The letter from NPRA President Charles T. Drevna came in response to a letter from Reps. Fred Upton (R-Mich.) and Ed Whitfield (R-Ky.). Upton is chairman of the House Committee on Energy and Commerce and Whitfield is chairman of the Subcommittee on Energy and Power.
“Completion of the Keystone XL pipeline would strengthen U.S. energy security and supply by maintaining adequate crude oil supplies for U.S. refiners from Canada, a stable, friendly and reliable North American neighbor,” Drevna wrote in his letter. “By allowing U.S. refiners to use more Canadian supply, the U.S. would be less reliant on oil imports from the Middle East and North Africa, unstable foreign energy sources, making our nation less vulnerable to possible disruptions in supply.”
“Completion of the Keystone XL pipeline can make an important contribution to lowering oil costs by increasing the supply of crude oil throughout North America,” Drevna said in the letter. ”Gasoline prices are determined by a number of supply and demand fundamentals, but over the long term, the primary factor is the cost of crude oil. Increased supplies of Canadian crude oil to the U.S. will put downward pressure on crude oil prices and have a beneficial impact throughout the entire supply chain.”
For More Information Contact
David Egner
National Petrochemical & Refiners Association
+1-202-552-8485
www.npra.org
media@npra.org
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