- CEO
- Charles A. Teare
- Sector
- Energy
- Industry
- Oil & Gas Drilling
- Address
- Suite 1800 Calgary AB Canada T2P 2Y5
- IPO Date
- Feb 27, 2013
- Business
- Tuscany Energy Ltd. is a junior oil and gas exploration and production company focused on crude oil and natural gas in Alberta and Saskatchewan, Canada. Incorporated in 1994 and headquartered in Calgary, Alberta, the company engages in the acquisition, exploration, development, and production of heavy oil and natural gas, with key properties in areas such as Hayter, Macklin, Evesham, and Lloydminster; it holds interests in 3.5 net sections of land and targets heavy oil projects using horizontal drilling techniques in the Dina formation. Operations center on Western Canada, serving domestic markets through development drilling programs and reserve optimization. The company changed its name from Tuscany Resources Ltd. to Tuscany Energy Ltd. in August 1998; more recently, it completed acquisitions including Sharon Energy Ltd. in June 2011 and Diaz Resources Ltd. in July 2013, enhancing its heavy oil assets and financial position with added working capital, marketable securities, and bank lines; however, as of June 2016, Tuscany Energy Ltd. entered liquidation proceedings following a repayment demand from lenders and plans to file for bankruptcy under the Bankruptcy and Insolvency Act.