Key Developments: Storm Resources Ltd (SRX.V)

SRX.V on TSX Venture Exchange

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28 May 2015
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Latest Key Developments (Source: Significant Developments)

Storm Resources Ltd announces a $36 million equity financing
Tuesday, 19 May 2015 08:27am EDT 

Storm Resources Ltd:Enters into an agreement with a syndicate of underwriters led by FirstEnergy Capital Corp. and including GMP Securities Ltd., RBC Capital Markets, Peters & Co. Limited, National Bank Financial Inc. and Raymond James Ltd to issue, on a bought deal basis, 8,000,000 common shares.Says issues at a price of $4.55 per Common Share, for aggregate gross proceeds of $36.4 million.Says the net proceeds from the offering will be initially used to temporarily reduce indebtedness, partially finance the company's 2015 capital expenditure program and for general corporate purposes.Common Shares issuable pursuant to the Bought Deal Financing will be offered in all provinces of Canada by way of a short form prospectus. Closing is expected to occur on or about June 10.  Full Article

Storm Resources Ltd gives Q2 2015 production guidance
Wednesday, 13 May 2015 06:05pm EDT 

Storm Resources Ltd:Forecasts Q2 2015 production to be 10,000 to 10,500 Boe per day.  Full Article

Storm Resources Ltd gives Q3 2014 production guidance
Thursday, 14 Aug 2014 04:56pm EDT 

Storm Resources Ltd:Forecasts Q3 2014 production to be 6,100 to 6,500 Boe per day.  Full Article

Storm Resources Ltd gives Q1, FY 2014 production guidance
Thursday, 6 Mar 2014 09:00pm EST 

Storm Resources Ltd:Sees Q1 2014 production is forecast to be 5,000 Boe per day.Sees FY 2014 Production is expected to be 5,000 to 5,500 Boe per day.  Full Article

Storm Resources Ltd announces closing of C$29.7 mln bought deal financing and C$5.1 mln non-brokered financing
Friday, 14 Feb 2014 08:44am EST 

Storm Resources Ltd:Says it has completed its previously announced bought deal financing for aggregate gross proceeds of C$29,725,000 (the Bought Deal Financing).Says pursuant to the bought deal financing, Storm issued 7,250,000 common shares of Storm (Common Shares) at a price of $4.10 per Common Share.Says the shares were issued through a syndicate of underwriters led by FirstEnergy Capital Corp. and including Peters & Co. Limited, National Bank Financial Inc., Clarus Securities Inc., RBC Capital Markets, Cormark Securities Inc. and Macquarie Capital Markets Canada Ltd.Says in addition, Storm completed its previously announced non-brokered financing to certain investors identified by Storm, including directors, officers and employees of Storm, for aggregate gross proceeds of C$5,125,000 (the Non-Brokered Financing).Says pursuant to the non-brokered financing, Storm issued 1,250,000 common shares at a price of C$4.10 per common share.Says In the aggregate, pursuant to the bought deal financing and the non-brokered financing, Storm issued 8,500,000 Common Shares, at a price of C$4.10 per Common Share, for aggregate gross proceeds of C$34,850,000.  Full Article

Yoho Resources Inc's subsidiary announces acquisition of common shares of Storm Resources Ltd
Friday, 31 Jan 2014 04:46pm EST 

Yoho Resources Inc:Says its direct and indirect wholly-owned subsidiary, Yoho Resources Partnership (the Partnership), acquired ownership and control of 13,629,442 common shares (the Storm Shares) in the capital of Storm Resources Ltd.Says with a deemed value of $4.25 per share, being the closing price of the Storm Shares on the TSX Venture Exchange on Jan. 30 (the trading date immediately prior to the date the Partnership acquired the Strom Shares pursuant to the terms of the Asset Purchase Agreement.The 13,629,442 Storm Shares were acquired from the treasury of Storm pursuant to the terms and conditions of an asset purchase and sale agreement dated Jan. 22 (the Asset Purchase Agreement) among the Partnership.Yoho and Storm pursuant to which Storm acquired all of Yoho's Montney acreage in the Nig area of Northeast British Columbia for total consideration of about $87.9 mln, comprised of 13,629,442 Storm Shares having an aggregate deemed value of about $57.9 million.Says based on the closing price of the Storm Shares on the TSXV on Jan. 30, of $4.25 per share, and $30.0 million in cash (before adjustments), which transaction closed on Jan. 31 (the Disposition).Following the completion of the Disposition, the Partnership (including any joint actors of the Partnership) owns or exercises control or direction over an aggregate of 13,629,442 Storm Shares representing about 13.48 pct of the current issued and outstanding Storm Shares.  Full Article

Storm Resources Ltd announces closing of acquisition in montney formation of Umbach-Nig Area of North Eastern British Columbia
Friday, 31 Jan 2014 01:58pm EST 

Storm Resources Ltd:Says the closing of the previously announced acquisition of a 100 pct working interest in 29 sections of land in the Umbach-Nig area prospective for liquids rich natural gas from the Montney formation.Says included in the Acquisition are two horizontal wells producing from the Montney formation.Says the total cost of the acquisition was about $87.9 mln, which consisted of about $30.0 mln in cash and 13.6 million common shares ("Common Shares") of Storm with a deemed value of $4.25 per Common Share.  Full Article

Storm Resources Ltd announces acquisition in montney formation of Umbach-Nig area of North Eastern British Columbia and Equity Financing
Thursday, 23 Jan 2014 08:45am EST 

Storm Resources Ltd:Says it has entered into an agreement to acquire a 100 pct working interest in 29 sections of undeveloped land in the Umbach-Nig area prospective for liquids rich natural gas from the Montney formation.Says acquisition are two horizontal wells producing 359 Boe net per day from the Montney formation.Says total cost of the acquisition is $87.7 mln, which consists of $30.0 mln in cash plus 13.6 mln common shares of Storm with a deemed value of $4.23 per Common Share, being the closing price of the Common Shares on the TSX Venture Exchange on Jan. 22.Says closing of the acquisition is subject to customary conditions, including receipt of applicable regulatory approvals, and is expected to occur on or about Jan. 31.  Full Article

Storm Resources Ltd Reaffirms Q4 2013 Production Guidance; Lowers FY 2013 And FY 2014 Production Guidance
Thursday, 14 Nov 2013 05:40pm EST 

Storm Resources Ltd announced that it expects fourth quarter 2013 average production in the range of 4,500-5,000 Boe/d (25% oil + NGL), fiscal 2013 average production in the range of $ 3,560-3,690 Boe/d (24% oil + NGL) and fiscal 2014 average production in the range of 5,200-6,450 Boe/d (21% oil + NGL).  Full Article

Storm Resources Ltd Reaffirms FY,Q4 2013 Production Guidance; Issues FY, Q4 2014 Production Guidance
Monday, 28 Oct 2013 08:25am EDT 

Storm Resources Ltd announced that production guidance for fiscal 2013 is unchanged with exit or fourth quarter of 2013 production forecasted to be 4,500 to 5,000 Boe per day with the completion and tie-in of one additional standing horizontal well (1.0 net). For fiscal 2014 exit or fourth quarter of 2014 average production is forecasted to be 7,300 - 7,800 Boe/d.  Full Article

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