FACILITYCalgary

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+ Alberta oil and gas companies encouraged to sign-on to PSAC’s new program to treat communities with more respect

+ BHP Billiton Ltd.’s takeover bid for Potash Corp. controversy continues as Sask. Gov’t asks Ottawa to reject the bid

+ BP feeling pressure to restore dividend

+ Canadian Real Estate Association ratified Consent Agreement to settle complaint before the Competition Tribunal

+ China prepared  to re-value Yuan  after keeping it artificially low

+ energy prices live link to Bloomberg.com commodities data

+ hurricane Richard hit Belize, could reach Mexico oil fields

+ Bank of Canada is maintaining its target for the overnight rate at 1%; the Bank Rate is correspondingly 1.24% and the deposit rate is 0.75%

+ Big Rock Brewery announced it will convert from a royalty income trust to a corporation structure

+ Enerplus Resources Fund closed US$ 456 million purchase North Dakota Bakken assets

+ Fort Chicago Energy Partners L.P. converting to corporation structure, to be known as Veresen Inc.

+ Keyera Facilities Income Fund announced long-term oil sands agreement with Husky Oil

+ Naheed Nenshi won Calgary's race for mayor

+ Syncrude fined $3.2 million for tailings pond duck deaths in 2008; fines allocated to environmental projects

+ weekly economic update from ATB Financial

+ Western Energy Services agreed to acquire Pantera Drilling Income Trust for $64.1 million

+ Zargon Energy Trust completed its conversion to a corporation structure; to be known as Zargon Oil & Gas Ltd.

+ CIBC is on the market to raise $1.5 billion of debenture debt

+ Compton Petroleum Corporation  closed US$ 193.5 million senior debt and US$ 45 million convertible debt refinancing

+ Connacher Oil and Gas Limited closed $25,346,000 flow-through equity financing

+ Royal Bank of Canada closed $1.5 billion subordinated debenture debt financing

+ Brad Shaw to CEO @ Shaw Communications Inc.

+ Dermot Baldwin, Exec. Dir @ Calgary Drop-In Centre, retiring

+ Fermando Aguilar to Pres. & COO @ Calfrac Well Services Ltd.

+ Francis Veilleux to Sr. VP Client Services @ Standard Life Investments Inc.

+ Geoff McFarlane to Dir., Sales & Marketing @ Peak Energy Services

+ George Krasulja to VP, Western Canada @ NFI Industries Canada

+ Gordon Graydon to Council Member @ Real Estate Council of Alberta (RECA)

+ James Cumming to Chair, Board of Governors @ NAIT

+ Jim Shaw to Vice-Chairman @ Shaw Communications Inc.

+ Ken McCoy to Council Member @ Real Estate Council of Alberta (RECA)

+ Mark Beacom to VP & Gen. Mgr. Romania @ Sterling Resources Ltd.

+ Nicolas Bilodeau to Partner @ Odgers Berndtson

+ Pamela Wilson to CEO @ Alberta Assoc. of Registry Agents

+ Stephen Birrel to VP & Gen. Mgr. Netherlands & France @ Sterling Resources Ltd.

+ Canada Pension Plan Investment Board (CPPIB) offered to buy an additional 10% of the 407 Express Toll Route (ETR) for $894-million from Cintra Infraestructuras, S.A., a subsidiary of Ferrovial. CPPIB is also completing a separate transaction to acquire the Australian firm Intoll Group, which owns a 30% stake in the toll highway north of Toronto. SNC-Lavalin Group Inc. plans  an initial public offering (IPO) of a new sub. TransAxio Highway Concession Inc. (expected to raise $700 - 900-million) to buy additional stake in the 407 ETR from Cintra. SNC-Lavalin has right of first refusal to acquire the shares CPPIB plans to buy from Cintra

+ Enmax got regulatory approval for its $1 billion Shepard Energy Centre, a natural gas fired power plant

+ Manulife Financial provided $117 million financing to International Power Canada for construction and long term operation of 48.6 megawatt wind farm in SW Ontario

+ Mayor Elect Naheed Nenshi is talking about supporting the airport tunnel project and a south-east LRT line . . . ambitious!! …. but, with only 1 vote on a 15 member council, he’ll have his work cut out for him to make it happen at a time when support from other levels of government is unlikely

+ SNC-Lavalin acquired nuclear safety consultant firm Nucleonex

+ Syncrude was fined $3.2 million for the April 2008 tailings pond incident; 1600 ducks, weighing approx. 2 lbs. each … that’s $1000/per … very expensive duck; some media watchers think the fine is too light.  It might be a drop in Syncrude’s barrel, but it sends a strong message from the courts that errors will be punished and the fines will be paid to worthy wildlife conservation projects as opposed to general gov’t revenue.  Kudos to all involved.

+ there has been much bally-hooing, carping and whining across Canada by real estate agents of the MLS/Real Estate Board kind; the issue is the Commission of Competition made a deal with the Canadian Real Estate Association (CREA) to stop actions against CREA by way of a Consent Agreement which has now been ratified by the country’s real estate boards. The issue is whether firms who are not offering full real estate services can use the MLS system to advertise properties. CREA members had previously refused, claiming the MLS system was proprietary. The Commissioner of Competition’s agenda, it would seem, was won the day.  Some observers believe this will reduce the cost of selling homes.  I think it will reduce the quality of service sellers receive from ‘posting service - list it and leave it to the seller’ firms approach will fracture the residential marketplace as opposed to making it better. Time will tell.

+ kudos to alumnus X 2: Murray Cobbe & David Johnson families – donating $5 million each to SAIT Polytechnic in support of the SAIT Trades and Technology Complex.