159th ordinary meeting , Vienna + June 2; SustainaBUILD Conference, BMO Centre, Calgary info/register + June 12-15; Banff World Television Awards, info/register + June 16; IFMA Luncheon, Calgary Chamber of Commerce
+ June 20; NAIOP’s June presentation: Oil & gas outlook at CAPP, info/register
+ June 28; NAIOP Golf Tournament, Elbow Springs Golf Club
+ July 8 – 17; Calgary Stampede, Stampede Park, Calgary - info/tickets + Oct. 26; Calgary Real Estate Forum, Telus Convention Centre, Chaired by Randy Fennessey; info/registration
+ Oct. 27; Calgary Leasing Conference, Telus Convention Centre, Chaired by Greg Guatto; info/registration
QUOTES
“Don’t go around saying the world owes you a living. The world owes you nothing. It was here first.” – Mark Twain
+ FACILITYCalgary has changed weekly publication to TUESDAY to better serve our readers
+ fire halted work at Imperial Oil’s Kearl mine site; out-of-control wildfire is 8km. away
+ Husky Energy Inc. is looking at listing on Hong Kong stock exchange
+ postal strike likely as Canada Post – union talks stalemated
+ Shell Canada considering a west coast LNG terminal at Prince Rupert
+ Texalta Petroleum Ltd. got shareholder approval for its combination with PetroFrontier Corp.
+ yesterday was Memorial Day in the United States; markets closed
FINANCINGS - proposed & closed
+ CGGVeritas raised $600 million in new senior debt
+ Dundee REIT raised $155.2 million in new equity
+ Flint Energy Services Ltd. is on the market to raise $175 million in secured senior debt
+ H & R REIT raised $200 million in new equity
+ Habanero Resources Inc. is on the market to raise $1,630,000
+ Northern Financial Corporation closed $3.32 million equity financing
+ Pacific & Western Credit Corp. closed $16,821,000 equity financing
+ TransGlobe Apartment REIT is on the market to raise $50 million in new equity
GOLF JOKE
A pastor, a doctor and an engineer were waiting one morning for a particularly slow group of golfers. Engineer: What's with these guys? We must have been waiting for 15 minutes! Doctor: I don't know, but I've never seen such ineptitude! Pastor: Hey, here comes the greens keeper. Let's have a word with him. [dramatic pause] Hi George. Say, what's with that group ahead of us? They're rather slow, aren't they? George: Oh, yes, that's a group of blind fire fighters. They lost their sight saving our clubhouse from a fire last year, so we always let them play for free anytime. The group was silent for a moment. Pastor: That's so sad. I think I will say a special prayer for them tonight. Doctor: Good idea. And I'm going to contact my ophthalmologist buddy and see if there's anything he can do for them. Engineer: Why can't these guys play at night?
INFRASTRUCTURE/P3/GREEN/LEED
+ Government of Alberta announced $550 million in new capital funding; will build 35 new schools across the province
+ the game of high-stakes chicken is over and a deal, finally, has been struck between the City of Calgary and the Airport Authority; there WILL be a tunnel under the new runway to carry traffic from NE Calgary to the terminal via 36th Street NE and Metis Trail.The City will build 4 exchanges.It looks like the City blinked and Airport Authority allowed the tunnel on their dictated terms and got the exchanges in the bargain.
Mark Kolke, Editor/Publisher
FACILITYCalgary - Calgary oil & gas, business and real estate NEWS, Mark Kolke (Editor) - President, MaxComm Realty Advisors - Calgary office leasing, Calgary industrial leasing, P3 Public Private Partnerships - MaxComm Communications Publisher
+ waytogo to Ian Dundas from ENERPLUS, lending his support for the Kids Cancer Foundation of Alberta event – Tour For Kids, Alberta – so, get out riding your bike or, if you aren’t up for the, sign up to sponsor Ian
+ kudos to Govan Brown, office interiors firm named the Canadian Business Journal ‘Company of the Year’
+ kudos to Bonnie Dupont, Richard Haskayne and Preston Manning – honorary degree recipients at SAIT Polytechnic
NEWS REVIEW May 24-30
+ Agrium Inc agreed to acquire Tetra Micronutrients
+ Blackstone Group LP & Slate Properties are selling off $900 million in Canadian office buildings (29 buildings, 3.2 million sq. ft.) including 6 in Calgary
+ Blockbuster, in receivership, is closing 140 stores in Canada, 7 in Calgary
+ BP and ConocoPhillips are reconsidering, after abandoning their Denali pipeline proposal, of taking Alaskan gas to tidewater for LNG shipping to Asian markets
+ Chinese state-owned oil firms are interested in oilsands, investing many billions more predicated on increased pipeline supply to the west coast (ie: Enbridge’s Northern Gateway project)
+ El Paso Corp. got board approval to split into two companies; one focused on pipelines, the other and E & P company
+ Enbridge Northern Gateway project is attracting lots of attention/critique in its public input process for the Joint Review Panel process
+ Government of Alberta announced $25 million in aid for southern Alberta flooding
+ Imperial Oil’s Kearl mine project budget has risen 36% to $10.9 billion on increased construction costs
+ Parkland Fuel Corp. appears likely to snare operation of 20 Shell Canada gas stations in Quebec and the Maritimes
+ Rainbow Pipeline resumed operations as wildfire risk diminished
+ Target Corp., in its $1.825 billion takeover of Zellers, has selected which leases it will assume; 6 Zellers stores in Calgary will be re-branded Target
+ The Laurentian Bank celebrated its 165th anniversary
+ Tourmaline Energy agreed to acquire Cinch Energy for $205 million
