Mergers and Acquisitions:

• E&P: An undisclosed group acquired certain non-core assets and facilities located in Lloydminster from Lycos Energy Inc. For $2.5MM. The assets acquired have a forecasted annual production of 360 boe/d of oil.

Other:

• The Alberta government is evaluating an investment in Japan’s refining sector with the aim of reducing dependence on the US as its primary oil exports customer. The investment would be in the form of a joint venture to fund the construction of a coker unit to enable the processing of heavy crude produced from Alberta’s oil sands.

• The Alberta government announced a two per cent levy on computer hardware for grid-connected data centres of 75 megawatts or greater effective December 31, 2026. The levy will be fully offset against provincial corporate income taxes – a data centre that is profitable and pays corporate income taxes in Alberta will not be subject to the levy.

• The federal government to launch its new major projects office that will be responsible for approving large industrial projects nationwide. The aim is to speed up approval times for large infrastructure projects. The office will be headquartered in Calgary and will work to attract domestic and global investment to these major projects.