FACILITYCalgary

+ Darryl Sutter, General Manager @ Calgary Flames, asked to step down

+ Fawwaz Nawwab to CEO @ Saudi Aramco Total Refining and Petrochemical Co.

+ Jack Armstrong, former CEO @ Imperial Oil, died

+ Jack Leslie, former Mayor of Calgary, died

+ Pat Nixon, founder & CEO @ Mustard Seed, stepped down

+ City of Calgary considering P-3 structure to finance/fast-track recreation centres in several neighbourhoods by packaging them as a single project to attract institutional investors . . . stay tuned

+ AIMco (Alberta’s public sector employee pension fund manager) invested $850 million to secure a 50% interest in a Chilean 6-lane toll road owner Sociedad Concesionaria Autopista Central from Skanska AB

+ energy prices live link to Bloomberg.com commodities data

+ U.S. financial advisor predicts Loonie to be $1.05

+ Wall Street climbs in first session of 2011

+ Delta Petroleum Corp. secured $100 million senior credit facility

+ Petrobank Energy and Resources Ltd. secured a new $200 million credit facility

+ TG World Energy Corp. closed common share & debt offering $3,400,000
+Transeuro Energy Corp. closddc $2 million private placement common share issue

+Vantex Resources Ltd. closed $1,640,000 flow-through and common share issue

+ a new year – and time for predictions. If we look at the published predictions of most economists and  real estate firms: Canada’s economy will be steady, Alberta’s oilsands pumped economy will do better and real estate values will be better here than elsewhere.  I don’t share this consensus. The U.S. economy dragging, volatility of European economies and the risk of deflation do not, in my view, overshadow the local good news sufficiently for anyone to dance in the streets.  While the lease-up of new towers in Calgary has resulted in stellar absorption stats for 2010, the increase in supply and musical chairs that follows as vacated space is backfilled will, return us to a more typical year for leasing.

My prediction for the Calgary market is this:  continued growth in vacancy rates, continued trouble in the natural gas sector will result in further consolidations/mergers and down-sizing will keep the market for office space in Calgary - robust in terms of options and competition by landlords to secure good tenants.

+ Connacher Oi and Gas Limited agreed to sell its Battrum properties to Hyak Energy ULC for $57.5 million

+ Enerplus Corporation completed its Plan of Arrangement to convert Enerplus Resources Fund to Enerplus Corporation

+ Finance Minister Jim Flaherty named 2010 business newsmaker by Canadian Press

+ industry spending to rise in hunt for energy

+ Keyera Crop. completed its Plan of Arrangement to convert to a corporation; will operate as Keyera Corp.

+ Magnum Hunter Resources Corp. agreed to acquire NGAS Resources for $98 million

+ Mullen Group Ltd. agreed to acquire Panda Tank & Vac Truck Services Inc.

+ Petrobank Energy and Resources Ltd. completed its Petrominerales Ltd. reorganization

+ Vantex Resources Ltd. adopted a shareholder rights plan

+ weekly economic update from ATB Financial

+ readers are encouraged to forward news items, commentary, feedback & items for our 'on the move' section by writing to: research@maxcomm.ca  . We welcome your information – send us information on corporate news, key staff appointments, financings and notices of upcomg industry and charity events.