+ Bank of Canada in search of new Governor upon departure of Mark Carney; replacement selection process underway
+ Calgary-Centre federal by-election result: Joan Crockatt retained the seat for the PC’s
+ Calgary City Council working on 2013 budget; target property tax increase of 5.7% not sitting well with many, debate heating up to push ‘increase’ downward
+ ConocoPhillips to sell its interest in JV Kashagan project., to generate $5 billion
+ Enbridge Inc. partnering with Canopy Prospecting to create Eddystone Roald Company to develop unit-train facility and related infrastructure near Philadelphia to handle 160,000 bpd of Bakken crude by 3rd qtr 2013
+ Eurozone finance ministers and IMF reached agreement on urgently needed $56/7 billion bailout for Greece
+ IEA economist says world needs ‘every drop’ of Alberta’s oil
+ National Bank of Canada letting 48 market makers go – shifting that activity to electronic system
+ Shell’s proposed Jackpine mine expansion; Alberta Court of Appeal decision dismissed leave to appeal from First Nations groups
+ Toronto Mayor Rob Ford removed from office over conflict of interest; Calgary Mayor Nenshi to pay up his lost Grey Cup wager … Rob Ford’s weight (a lot) in food to the Toronto Food Bank
+ TSX and other markets showing nervousness over U.S. fiscal cliff negotiations, Greek bailout . . .
NEWS REVIEW Nov. 21 - 26
+ Aker Solutions agreed to acquire Thrum Energy Inc.
+ Birch Lake Energy Inc. and Veraz Petroleum Ltd. agreed to combine
+ Brookfield Renewable Energy Partners subsidiary made a takeover bit for Western Wind Energy Corp.
+ Calgary Stampeders lost 100th Grey Cup to Toronto
+ Canadian Pacific Railway reported planning to downsize head office staff and relocate its head office, to build facilities on its own Ogden area railyard lands
+ Capital Power adopted a Shareholder Rights Plan
+ Enbridge Pipelines Inc. agreed with its shippers to construct $1.8 billion expansion of its mainline between Edmonton and Hardisty
+ Government of Alberta – Energy Minister Hughes introduced amendments to the Responsible Energy Development Act prior to passage – creating a single energy regulator
+ Granite Real Estate Inc. got court approval for conversion to REIT structure
+ ING Group repaid $1.45 billion bailout to the Dutch government
+ Ivanhoe Energy Ltd. agreed to sell its Pan-China Resources Ltd .subsidiary for US$45 million
+ PETRONAS Carigali Canada Ltd. extended its condition dates for the Progress Energy Resources Corp. takeover to December 30; transaction pending Government of Canada approval
+ Peyto Exploration & Development Corp. is on the market to raise $100 million in new equity
+ Pinecrest Energy Inc. agreed to combine with Spartan Oil Corp.; combined enterprise value $1 billion
+ Pure Industrial REIT agreed to acquire $169.2 million in seven industrial properties
+ Raymond Chabot Grant Thornton acquired ECGL
+ SandRidge Energy Inc. adopted a shareholder rights plan
+ TempleREIT agreed to acquire 50% interest in Holiday Inn South, Winnipeg for $5.5 million
+ Tervita Corp. agreed to sell its drilling fluids division to Canadian Energy Services & Technology Corp.
+ TransCanada Corporation agreed to acquire BP’s 40% interest in the Crossfield Gas Storage facility and related JV corporation and assets for $210 million
QUOTES
“Votes should be weighed, not counted.” – Friedrich von Schiller
“Voters quickly forget what a man says.” – Richard M. Nixon
INFRASTRUCTURE / P3 / GREEN
+ Tsuu T’ina Nation election for Chief focusing on ring-road access to Tsuu T’ina land . . . stay tuned
+ ATCO is proposing at $700 million upgrade aging high pressure natural gas lines in Calgary and Edmonton; costs will be built into the rate base and passed along to customers
+ City of Edmonton issued a proposal call for new office space to consolidate 350,000 sq. ft. of use in one building; 15 expressions of interest submitted. Based on current construction costs – this observer expects to see renewals will win out over new development
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