Lycos Energy Inc. Announces Operations Update Highlighted by Wine Rack Drilling Outperformance and Updated 2024 Guidance
Calgary, Alberta--(Newsfile Corp. - April 3, 2024) - Lycos Energy Inc. (TSXV: LCX) ("Lycos" or the "Company") is pleased to provide an operations update, preliminary first quarter production results and an increase to guidance. Q1 2024 production is expected to average in excess of 3,800 boe/d (99% crude oil) with forecasted Q2 2024 average production expected to exceed 4,500 boe/d (99% crude oil). Drilling operations will continue through break up with 7 to 9 wells expected to be drilled in...
2024-04-03 5:07 PM EDT
Lycos Energy Inc. Announces 2024 Budget
Calgary, Alberta--(Newsfile Corp. - February 1, 2024) - Lycos Energy Inc. (TSXV: LCX) ("Lycos" or the "Company") is pleased to announce its 2024 budget (the "Budget"). 2024 Budget Highlights Capital expenditures (1) of $61.0 million, which includes the drilling of approximately 28 (27.2 net) wells consisting of the following:10 (9.2 net) fishbone multi-laterals 7 (7 net) wine rack multi-laterals 10 (10 net) conventional multi-laterals 1 (1 net) injectors Lycos' 2024 drilling program will...
2024-02-01 4:05 PM EST
Lycos Energy Inc. Announces Increase to Credit Facility
Calgary, Alberta--(Newsfile Corp. - December 4, 2023) - Lycos Energy Inc. (TSXV: LCX) ("Lycos" or the "Company") is pleased to announce that it has entered into an amending agreement with the National Bank of Canada to increase its existing revolving credit facility from $35.0 million to $50.0 million. The credit facility provides added financial flexibility to support the Company's growth. About Lycos Lycos is an oil-focused, exploration, development and production company based in Calgary,...
2023-12-04 5:36 PM EST
Lycos Energy Inc. Announces Q3 2023 Financial Results, Land Acquisition and Director Retirement
Calgary, Alberta--(Newsfile Corp. - November 22, 2023) - Lycos Energy Inc. (TSXV: LCX) ("Lycos" or the "Company") is pleased to announce its operating and financial results for the three and nine months ended September 30, 2023. Selected financial and operating information is outlined below and should be read with Lycos' unaudited condensed interim consolidated financial statements and related management's discussion and analysis ("MD&A") for the three and nine months ended September 30, 2023...
2023-11-22 7:49 PM EST
Lycos Energy Inc. Announces Stock Option Grant
Calgary, Alberta--(Newsfile Corp. - October 31, 2023) - Lycos Energy Inc. (TSXV: LCX) ("Lycos" or the "Company") is pleased to announce that as a part of the Company's long term incentive program, and pursuant to the terms and conditions of its stock option plan, the Company granted 1,365,000 stock options to certain directors and officers effective as of October 30, 2023. The options expire five years from the date of the grant and are exercisable at a price of $3.75 per common share. The...
2023-10-31 9:03 PM EDT
Lycos Energy Inc. Announces Closing of Previously Announced Durham Creek Exploration Ltd. Acquisition, $35.0 Million Equity Financing and Recent Drilling Results
Calgary, Alberta--(Newsfile Corp. - October 16, 2023) - Lycos Energy Inc. (TSXV: LCX) ("Lycos" or the "Company") is pleased to advise that it has closed the previously announced acquisition (the "Acquisition") of Durham Creek Exploration Ltd. ("DCEL"), a privately held, heavy oil producer. Lycos acquired all of the issued and outstanding common shares of DCEL for total consideration of $22.5 million, consisting of $12.5 million in cash and 2,816,907 common shares of Lycos ("Lycos Shares") at...
2023-10-16 9:21 AM EDT
Lycos Energy Inc. Announces Q2 2023 Financial Results, Operations Update, Strategic Acquisition and Share Consolidation
Calgary, Alberta--(Newsfile Corp. - August 24, 2023) - Lycos Energy Inc. (TSXV: LCX) ("Lycos" or the "Company") is pleased to announce that it has entered into a definitive agreement (the "Acquisition Agreement") to acquire Wyatt Resources Ltd. ("Wyatt"), a privately-held, heavy oil producer and that the Company will be proceeding with the consolidation (the "Consolidation") of its common shares (the "Lycos Shares") on the basis of eight (8) pre-Consolidation Lycos Shares for each one (1)...
2023-08-24 8:09 PM EDT
Lycos Energy Inc. Announces Appointment of New Director
Calgary, Alberta--(Newsfile Corp. - June 14, 2023) - Lycos Energy Inc. (TSXV: LCX) ("Lycos" or the "Company") is pleased to announce that Geri Greenall was elected to the Company's board of directors at the annual general and special meeting (the "Annual Meeting") of shareholders of Lycos held earlier today. Ms. Greenall is currently a director of Kelt Exploration Ltd. and the Chief Financial Officer of Spartan Delta Corp. She has over 22 years of experience in the energy and financial...
2023-06-14 5:19 PM EDT
Chronos Resources Ltd. and Samoth Oilfield Inc. Announce Transformative Business Combination and $65.0 Million Equity Financing
Calgary, Alberta--(Newsfile Corp. - November 7, 2022) - Chronos Resources Ltd. ("Chronos") and Samoth Oilfield Inc. (TSXV: SCD) ("Samoth") are pleased to announce that they have entered into a definitive agreement dated November 7, 2022 (the "Agreement") providing for a business combination transaction (the "Transaction"). Pursuant to the Transaction: (i) Chronos will complete an equity private placement (the "Financing") for maximum aggregate gross proceeds of $65.0 million; (ii) Chronos and...
2022-11-07 7:00 AM EST
Samoth Oilfield Inc. Announces Grant of Stock Options
St. Albert, Alberta--(Newsfile Corp. - June 16, 2022) - Samoth Oilfield Inc. (TSXV: SCD) (the "Company") announces that the Board of Directors of the Company granted an aggregate of 1,100,000 options to purchase common shares of the Company to certain directors and officers pursuant to the Company's stock option plan. The options are exercisable at a price of $0.05 per share for a period of five years. The grant of options is subject to the approval of the TSX Venture Exchange. For further...
2022-06-16 5:00 PM EDT
Samoth Oilfield Inc. Announces Grant of Stock Options
St. Albert, Alberta--(Newsfile Corp. - December 31, 2021) - Samoth Oilfield Inc. (TSXV: SCD) (the "Company") announces that the Board of Directors of the Company granted an aggregate of 1,945,000 options to purchase common shares of the Company to certain directors and officers pursuant to the Company's stock option plan. The options are exercisable at a price of $0.07 per share for a period of five years. The grant of options is subject to the approval of the TSX Venture Exchange. For...
2021-12-31 6:57 PM EST
Samoth Announces Disposition of Natural Gas Assets
St. Albert, Alberta--(Newsfile Corp. - May 21, 2019) - Samoth Oilfield Inc. (TSXV: SCD) ("Samoth" or the "Corporation") today, announces that it has entered into an agreement to dispose of its entire portfolio of natural gas wells and related assets to a private arm's length purchaser (the "Purchaser"). Pursuant to the terms of the purchase and sale agreement the Corporation has agreed to sell the assets to Purchaser in consideration for a nominal purchase price and the assumption by...
2019-05-21 5:12 PM EDT
Samoth Announces Option Grant
St. Albert, Alberta--(Newsfile Corp. - December 21, 2018) - Samoth Oilfield Inc. (TSXV: SCD) ("Samoth" or the "Corporation") today, has issued, subject to regulatory approval, 1,874,833 common share purchase options, granted to directors and officers of the Corporation. The options are exercisable at a price of $0.05 per share for a period of 5 years from the date of grant. The options have been granted pursuant to the company's 10-per-cent rolling stock option plan. This press release is not...
2018-12-21 6:00 PM EST