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Energy companies with a combination of healthy balance sheets, prowess in the futures market and reputations for making acquisitions pay off will head into 2015 with the wherewithal to pick up some assets at attractive prices.

Inside the Market's roundup of some of the Canadian small caps making news and on the move today. This post will be updated throughout the morning

Ivanhoe Energy Inc., a global heavy oil development and production company, said it does not expect to make the Dec. 31 cash interest payment due on its convertible debentures. Management is reviewing the company's strategic alternatives, which include a sale of the company, debt restructuring, and measures to obtain financing for its ongoing operations. "Without timely access to additional financing, there is significant doubt as to the company's ability to continue as a going concern," reads a press release from the company.

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BRP Inc. cut its guidance for 2015. It now expects 4 per cent to 11 per cent growth in "normalized net income," compared with 10 to 17 per cent earlier.

CEO José Boisjoli said: "Earlier this year, we identified a currency risk in Russia, and the situation has deteriorated significantly with a steep decline in the value of the rouble since the end of October. The outcome is higher costs for imported products and this affects our distributor's sales to consumers. With six weeks remaining before the end of the fiscal year, we are adjusting our guidance to reflect the potential financial impact."

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Bankers Petroleum Ltd. said capital spending in 2015 would total $218-million (U.S.), with production flat relative to the current year. The company's 2014 capital budget was $313-million, of which the firm had spent $219-million in the first three quarters. In light of tumbling crude prices, the company plans to reduce its number of drilling rigs to three from six. Management expects the price of Brent crude oil to average $70 per barrel for the year, in which case the company's cash margin will be near $30 per barrel. The company has hedged a portion of its production at $80 per barrel Brent.

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Savanna Energy Services Corp. said capital expenditures are expected to total $80-million in 2015, a large decline relative to its 2014 capital budget, which allocated $145.6-million for such spending. The company indicated that it is able to further reduce capital expenditures if necessary, and is considering a number of non-operational or non-core asset dispositions.

"Savanna's conservative capital budget, in our view, is a prudent choice as the company waits for further clarity surrounding activity in 2015," commented TD Securities analyst Scott Treadwell. "We continue to believe Australia is an area of potential growth and may in our view, mitigate a portion of the potential reduction in North American activity."

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Orbite Aluminae Inc. said it is deferring commercial production at its high purity alumina plant by one quarter, to the third quarter of 2015, after quality control testing revealed issues with some of its refractory materials. The company has identified the replacement parts necessary, but these components will not be available until February 2015. The company increased its project budget to $42-million from its previous estimate of $28.5-million.

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SouthGobi Resources Ltd. said Chief Executive Officer Ross Tromans will step down today and Enkh-Amgalan Sengee will take over. Turquoise Hill Resources Ltd. owns 47.9 per cent of SouthGobi and took management control of SouthGobi in September 2012, after which it made changes to the board and senior management. Rio Tinto has a majority shareholding in Turquoise Hill.

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True North Commercial Real Estate Investment Trust has agreed to indirectly acquire 11 Ontario office properties for roughly $83.4-million. The purchases, to be made in three separate deals, represent an implied capitalization rate of approximately 7.6 per cent.

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Callinan Royalties Corp. said the Toronto Stock Exchange has granted conditional approval to list its common shares, subject to compliance with customary conditions for listing by March 6, 2015.

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