lunar rabbit fortune's gate
Man City blows 3-goal lead and gets booed by fans in draw with Feyenoord in Champions LeagueContent warning: This article discusses violent clashes and fatalities, which may be distressing to some readers. Indian Muslim protesters clashed with police Sunday with at least two people killed in riots sparked by a survey investigating if a 17th-century mosque was built on a Hindu temple. "Two persons were confirmed dead," Pawan Kumar, a police officer in Sambhal in the northern state of Uttar Pradesh, told AFP, adding that 16 police officers were "seriously injured" during the clashes. The Press Trust of India news agency quoted officials saying three people had died. Hindu activist groups have laid claim to several mosques they say were built over Hindu temples during the Muslim Mughal empire centuries ago. Street battles broke out when a team of surveyors entered the Shahi Jama Masjid in Sambhal on orders from a local court, after a petition from a Hindu priest claiming it was built on the site of a Hindu temple. Protesters on Sunday hurled rocks at police, who fired tear gas canisters to clear the crowd. Hindu nationalist activists were emboldened earlier this year when Prime Minister Narendra Modi inaugurated a grand new Hindu temple in the northern city of Ayodhya, built on grounds once home to the centuries-old Babri mosque. That mosque was torn down in 1992 in a campaign spearheaded by members of Modi's party, sparking sectarian riots that killed 2,000 people nationwide, most of them Muslims. Some Hindu campaigners see an ideological patron in Modi. Calls for India to more closely align the country's officially secular political system with its majority Hindu faith have rapidly grown louder since Modi was swept to office in 2014, making the country's roughly 210-million-strong Muslim minority increasingly anxious about their future.76ers center Joel Embiid sidelined due to swelling in his left knee and will miss two games PHILADELPHIA (AP) — The Philadelphia 76ers say center Joel Embiid is managing swelling in his left knee and will miss a second consecutive game Sunday. The Sixers issued a statement on the condition of the 2023 NBA MVP at halftime of Friday’s NBA Cup game against the Brooklyn Nets, saying the decision to sideline Embiid was made along with the team’s medical staff. Embiid was ruled out prior to Friday’s game against the Nets due to what the team described as left knee injury maintenance. The Sixers host the Los Angeles Clippers on Sunday. Giants release quarterback Daniel Jones just days after benching him EAST RUTHERFORD, N.J. (AP) — The Daniel Jones era in New York is over. The Giants quarterback was granted his release by the team just days after the franchise said it was benching him in favor of third-stringer Tommy DeVito. New York president John Mara said Jones approached the team about releasing him and the club obliged. Mara added he was “disappointed” at the quick dissolution of a once-promising relationship between Jones and the team. Giants coach Brian Daboll benched Jones in favor of DeVito following a loss to the Panthers in Germany that dropped New York's record to 2-8. Austin Hays, Kyle Finnegan, Brendan Rodgers and Jordan Romano among 62 new free agents NEW YORK (AP) — Outfielder Austin Hays, right-hander Kyle Finnegan and second baseman Brendan Rodgers were among 62 players who became free agents when their teams failed to offer 2025 contracts. Right-hander Jordan Romano, left-hander Patrick Sandoval and outfielders Michael Tauchman and Ramón Laureano also were among the players cut loose, many of whom would have been eligible for salary arbitration. Washington cut right-hander Tanner Rainey, its last remaining player from the 2019 World Series champions. Finnegan and Hays are former All-Stars. Conor McGregor must pay $250K to woman who says he raped her, civil jury rules LONDON (AP) — A civil jury in Ireland has awarded more than $250,000 to a woman who says she was raped by mixed martial arts fighter Conor McGregor in a Dublin hotel penthouse after a night of heavy partying. The jury on Friday awarded Nikita Hand in her lawsuit that claimed McGregor “brutally raped and battered” her in 2018. The lawsuit says the assault left her heavily bruised and suffering from post-traumatic stress disorder. McGregor testified that he never forced her to do anything and that Hand fabricated her allegations after the two had consensual sex. McGregor says he will appeal the verdict. Russell puts Mercedes on pole at Las Vegas and Verstappen nips Norris in championship battle LAS VEGAS (AP) — George Russell put Mercedes on the pole for the Las Vegas Grand Prix in an upset over teammate Lewis Hamilton. Hamilton was fastest in the first two practice sessions with Russell fastest in Friday night’s third and final session. But come qualifying, Hamilton made two mistakes in the final group and wound up a distant 10th. Carlos Sainz Jr. and Charles Leclerc seemed to sweep the front row until Russell’s late lap pushed Sainz to second. Pierre Gasly slid into third, and Leclerc wound up fourth. Championship leader Max Verstappen of Red Bull qualified fifth for Saturday night's race. Verstappen needs only to score three points more than challenger Lando Norris to win his fourth straight world championship. Week 16 game between Denver Broncos and Los Angeles Chargers flexed to Thursday night spot The Los Angeles Chargers have played their way into another prime time appearance. Justin Herbert and company have had their Dec. 22 game against the Denver Broncos flexed to Thursday night, Dec. 19. Friday’s announcement makes this the first time a game has been flexed to the Thursday night spot. The league amended its policy last season where Thursday night games in Weeks 13 through 17 could be flexed with at least 28 days notice prior to the game. The matchup of AFC West division rivals bumps the game between the Cleveland Browns and Cincinnati Bengals to Sunday afternoon. Chase Elliott named NASCAR's most popular driver for 7th straight season CHARLOTTE, N.C. (AP) — Chase Elliott has been named NASCAR's most popular driver for the seventh straight year. He was announced Friday at NASCAR's annual season-ending awards ceremony. It's the only major NASCAR award determined solely by the vote of race fans. Elliott beat out Hendrick Motorsports teammate Kyle Larson and Team Penske’s Ryan Blaney, per results released by the National Motorsports Press Association. Bill Elliott, Chase's father who is nicknamed “Awesome Bill from Dawsonville,” was named NASCAR’s most popular driver a record 16 times before removing his name from the ballot. Either an Elliott or Earnhardt has won NASCAR’s most popular driver award for 34 consecutive years. NBA memo to players urges increased vigilance regarding home security following break-ins MIAMI (AP) — The NBA is urging its players to take additional precautions to secure their homes following reports of recent high-profile burglaries of dwellings owned by Milwaukee Bucks forward Bobby Portis and Kansas City Chiefs teammates Patrick Mahomes and Travis Kelce. In a memo sent to team officials, a copy of which was obtained by The Associated Press, the NBA revealed that the FBI has connected some burglaries to “transnational South American Theft Groups” that are “reportedly well-organized, sophisticated rings that incorporate advanced techniques and technologies, including pre-surveillance, drones, and signal jamming devices.” Brock Purdy will miss Sunday's game for the 49ers with a shoulder injury SANTA CLARA, Calif. (AP) — San Francisco 49ers quarterback Brock Purdy will miss Sunday’s game against the Green Bay Packers with a sore throwing shoulder. Purdy injured his right shoulder in last Sunday’s loss to the Seattle Seahawks. Purdy underwent an MRI that showed no structural damage but the shoulder didn’t improve during the week and Purdy was ruled out for the game. Coach Kyle Shanahan said star defensive end Nick Bosa also will miss the game with injuries to his left hip and oblique. Left tackle Trent Williams is questionable with an ankle injury and will be a game-time decision. Lawyer says ex-Temple basketball standout Hysier Miller met with NCAA for hours amid gambling probe PHILADELPHIA (AP) — A lawyer for former Temple basketball standout Hysier Miller says the 22-year-old sat for a long interview with the NCAA amid an investigation into unusual gambling activity. But neither the lawyer nor federal law enforcement officials on Friday would confirm reports that a federal probe is now under way. Lawyer Jason Bologna says Miller cooperated because he hopes to play again. Miller was released last month after transferring to Virginia Tech. Temple President John Fry says the Philadelphia school has not been asked for any information from federal law enforcement officials.Stock market today: Wall Street drifts lower as it waits for inflation data
Cam Carter put LSU ahead for good with a jumper 1:08 into the third overtime and the Tigers came away with a wild 109-102 win over UCF on Sunday in the third-place game of the Greenbrier Tip-Off in White Sulphur Springs, W.Va. Carter's make sparked a 5-0 spurt for LSU (5-1), which mounted a ferocious second-half rally that began after Darius Johnson drilled a 3-pointer to put the Knights up 52-34 with 12:57 to play in regulation. UCF (4-2) got back within two in the third overtime, but it never found a way to draw even. Vyctorius Miller and Jordan Sears sealed the victory, combining for three buckets down low that gave the Tigers a 106-99 cushion with 17 seconds remaining. Carter was the late-game hero for LSU, scoring the final four points of regulation to forge a 70-70 tie. He also knocked down a go-ahead 3-pointer with 3:19 left in the first extra session to give the Tigers a 76-75 advantage. Sears gave LSU a four-point edge with a triple of his own with 2:10 to go, but the Tigers failed to stay in front, and UCF's Keyshawn Hall kept the game going by sinking two free throws with six seconds remaining to make it 82-82. Neither team led by more than three in the second overtime, with Hall again coming to the Knights' rescue. He made two layups in the final 52 seconds of the frame to knot things at 93 and send the teams to a third OT. Few could have predicted 15 minutes of extra basketball after UCF put together a 25-3 first-half run that lifted it to a 38-18 advantage with 2:12 left until the break. LSU responded with seven unanswered points, but the Knights still led comfortably, 40-25, at intermission. Sears finished with a game-high-tying 25 points to go along with nine boards, while Jalen Reed recorded a 21-point, 13-rebound double-double for the Tigers. Carter netted 20 points, Miller had 16 and Dji Bailey chipped in 14. Johnson collected 25 points, six rebounds, eight assists and five steals for UCF. Hall totaled 21 points and 10 boards, and Jordan Ivy-Curry supplied 20 points. LSU outshot UCF 43.2 percent to 40.7 percent and had narrow advantages from behind the arc (12 made shots to 10) and the free-throw line (21-18). --Field Level Media
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UPPER Hunter residents are pushing back on council plans for an outside provider to lease, operate, or potentially buy community-based aged care facility, Gummun Place Hostel . Login or signup to continue reading Gummun Place was 'built by the people, for the people' critics say and it was 'unconscionable' for the council to consider a sale. There have been several meetings to discuss the issue since the Upper Hunter Shire Council announced on November 7 it was issuing an expression of interest. The details were contained in a letter from Mayor Maurice Collison to the Federal Minister for Health and Aged Care, Mark Butler. It focused on the council's request for "immediate and ongoing assistance" to prevent further closures and financial losses in rural aged care. Merriwa District Progress Association secretary Liz Griffiths said the massive piece of land the hostel is built on was a donation. On top of the land, the community raised money to build it. "I think the real fear is that the facility would be sold and money that this district raised would go into the coffers of the council and we wouldn't see the money," Ms Griffiths said. "It's understandable why they want to divest themselves of running the facility, but the idea that it would be sold-off would just almost be the straw that broke the camel's back out here." Association President Stephen Gowlland said the community saw a need for a hostel like Gumman Place and it was a community effort. "The surrounding farmers all donated a beast at about $1000 a head, and I understand there was probably some government grants as well," Mr Gowlland said. "It was placed in the safe hands of the then Merriwa Shire Council as a trustee , no one foresaw the amalgamation of Scone and Murrurundi." "We need to retain that hostel in Merriwa, it is owned by the people not the council. I don't know who the title of the land is with, but it belongs to the people." There were gaps so far in the information available about the facility such as a breakdown of costs, including the cost of accommodation for the out-of-town chef and nurses flying in from Queensland and Sydney, one critic said. Councillor Troy Stolz, who attended a meeting where the issue was discussed, said the last thing the community wanted was for the facility to close. The Progress Association will be running a survey to get a feel for what the rest of the community, and people across the district, want at the site. Councillor Collison said in his letter to the federal government that small councils were in an unsustainable position, he said, operating aged care facilities like Gummun Place Hostel, a 16-bed facility which serves an average of 14 residents. The council was currently absorbing an annual loss exceeding $400,000 to keep the hostel operational, he said. "We simply cannot continue to subsidise this facility at such a high cost while still providing essential services like libraries, swimming pools, and sports facilities that our community relies on for health and wellbeing," said Councillor Collison. "The Federal Government has been lax in its support for councils running aged care services. Without urgent assistance, Gummun Place and similar facilities face an uncertain future." Community health & welfare, social justice, investigations, general news.Gabriel.Fowler@newcastleherald.com.au Community health & welfare, social justice, investigations, general news.Gabriel.Fowler@newcastleherald.com.au DAILY Today's top stories curated by our news team. Also includes evening update. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. 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DAILY Your digital replica of Today's Paper. Ready to read from 5am! DAILY Test your skills with interactive crosswords, sudoku & trivia. Fresh daily!"Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum." Section 1.10.32 of "de Finibus Bonorum et Malorum", written by Cicero in 45 BC "Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam, nisi ut aliquid ex ea commodi consequatur? Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum fugiat quo voluptas nulla pariatur?" 1914 translation by H. Rackham "But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure. To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage from it? But who has any right to find fault with a man who chooses to enjoy a pleasure that has no annoying consequences, or one who avoids a pain that produces no resultant pleasure?" 1914 translation by H. Rackham "But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure. To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage from it? But who has any right to find fault with a man who chooses to enjoy a pleasure that has no annoying consequences, or one who avoids a pain that produces no resultant pleasure?" To keep reading, please log in to your account, create a free account, or simply fill out the form below.ISTANBUL Turkish Foreign Minister Hakan Fidan and his Russian counterpart Sergey Lavrov on Saturday discussed bilateral relations over phone, according to Turkish diplomatic sources. The two ministers also held talks on regional issues, the sources said.
CALGARY, Alberta, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc . ("Gran Tierra" or the "Company") GTE GTE GTE is pleased to report that another significant milestone has been achieved in Ecuador with a seventh successful oil discovery further confirming the significant potential of the Arawana / Zabaleta field area. In addition, we are excited to announce that Gran Tierra (by way of its wholly-owned subsidiary) has entered into a purchase and sale agreement with Logan Energy Corp. (" Logan ") LGN pursuant to which Logan would acquire 50% and operatorship of a portion of Gran Tierra's Simonette Montney assets (the "Assets") for approximately C$52 million in cash, subject to customary adjustments. After the closing of the Transaction, Gran Tierra would retain 50 percent working interest in the Assets. The Transaction provides a growth-focused platform to advance Gran Tierra's Montney development and is aligned with the Company's corporate strategy of long-term value creation. All dollar amounts are in Canadian dollars, and production amounts are on an average working interest (" WI ") before royalties basis unless otherwise indicated. Per barrel (" bbl ") and bbls of oil equivalent per day (" BOEPD ") amounts are based on WI sales before royalties. Message to Shareholders Gary Guidry, President and Chief Executive Officer of Gran Tierra commented, "Gran Tierra is excited to announce its seventh Ecuador oil discovery from the Zabaletea-K1 well. This well was a pivotal exploration well that has further substantiated and delineated the Arawana / Zabaleta field area. The Zabaleta-K1 was drilled over 4 kilometers from the Arawana-J1 well drilled earlier this year and was charged with oil highlighting the magnitude of this discovery. The success of this well solidifies Gran Tierra's understanding of the field area and will be a key pillar of development growth plans in South America for years to come." Seventh Ecuador Oil Discovery Substantiates Significant Potential in the Arawana / Zabaleta Field Area The Zabaleta-K1 well is the fourth exploration well drilled in the Chanangue Block and marks the seventh oil discovery by Gran Tierra in Ecuador. The successful Zabaleta test further validates the proven Basal Tena geological model 4 kilometers away from Arawana-J1 and supports the significant potential of the Arawana / Zabaleta productive trend. Gran Tierra has run production casing, cemented and perforated the Basal Tena oil zone and has begun production testing. The Basal Tena oil zone was perforated over 21.5 ft of reservoir with 12.8 ft of net reservoir based on log evaluation. A jet pump was run and the well has produced at stabilized rates over 24 hours at 1,105 bbls of oil per day, 17-degree API gravity oil, a 2% water cut, and a gas-oil ratio of 59 standard cubic feet per stock tank barrel. The rig has been moved to drill the Zabaleta Oeste exploration well which was spud on November 21, 2024, which marks the fulfillment of the final exploration commitment in the Chanangue block. Message to Shareholders "We are also thrilled to announce the sale of a portion of our interest in the Simonette Montney play while keeping a material stake in its future growth. This strategic partnership with a top-tier operator, who already has established infrastructure in the area, will significantly accelerate development and generate near-term cash flow. We intend to use a portion of the proceeds to deliver value to our shareholders through development of other key assets in the portfolio and share buybacks, while also strengthening our balance sheet by reducing net debt. We are also pleased to monetize by diluting half of our interest in one of the assets recently acquired in the i3 Energy acquisition by selling approximately 4 percent of production, and 1P reserves we acquired for approximately 19 percent of total consideration while still maintaining material interest and value in the assets. This transaction validates Gran Tierra's position as a top-tier growth focused mid cap E&P company," commented Gary Guidry, President and Chief Executive Officer of Gran Tierra. Strategic Rationale Accelerates Simonette Asset Development: Leverages pre-development work and infrastructure completed by Logan to accelerate drilling on the Simonette Assets into the fourth quarter of 2024 from the first quarter of 2026. Partnering with a Leading Montney Operator: Simonette operations will be spearheaded by an industry-leading Montney oil producer with significant operating experience and proven track record of success. Strategic Infrastructure Already In-Place: Gain access to Logan's area infrastructure, which eliminates the need for new projects, reduces upcoming capital spends and accelerates asset development timelines and value. Synergistic Operations Drive Cost Savings: Cost reduction across the combined asset base led by increased development scale, shared pad sites, personnel efficiencies, gathering pipelines and access to infrastructure. Attractive Transaction Metrics: Premium value realized for the Assets with an opportunity to capture additional upside through long-term asset development. Disposition Highlights: 100% WI Asset Sold 50% WI Consideration 2 - $52 million Net Sections of Land 49 25 PDP reserves 1.6 MMBOE 0.8 MMBOE 1P reserves 7.8 MMBOE 3.9 MMBOE 2P reserves 27.6 MMBOE 13.8 MMBOE NPV AT 10% NPV AT 10% PDP $8.8 million $4.4 million 1P $55.0 million $27.5 million 2P $244.6 million $122.3 million Q3 2024 Production 1,590 BOEPD 795 BOEPD The Company maintains a 50% working interest in the Assets, which include approximately 25 net sections of Simonette Montney lands with 0.8 million bbls of oil equivalent (" MMBOE ") of Proved Developed Producing (" PDP ") reserves, 3.9 MMBOE of Proved (" 1P ") reserves and 13.8 MMBOE of (" 2P ") reserves, in each case, as at July 31, 2024 1 . On a net present value discounted by 10% after tax basis, the Assets were valued by GLJ Ltd. at $4.4 million for Proved Developed Producing reserves, $27.5 million for Proved reserves and $122.3 million for Proved plus Probable reserves. Finally, the Assets and stated NPVs include Logan's acquisition of Gran Tierra's entire interest in the gross overriding royalty over Logan's land in the corresponding area of the Simonette Montney play. Consideration In addition to the initial cash consideration, Logan will carry the first development well in the Lower Montney region valued at $3 million net to Gran Tierra. Gran Tierra will obtain priority access and preferential terms on existing Logan owned infrastructure as part of the newly formed joint venture. Transaction Details Total consideration from Logan includes $52 million in cash proceeds and carried development of the first Simonette well drilled in the Lower Montney region for estimated non-cash proceeds of $3 million net to Gran Tierra. The purchase price will be subject to customary adjustments based on an effective date of September 1, 2024. As a result of the transaction, Gran Tierra expects to accelerate 2 wells at the 1-24 pad in the Simonette Montney area into the fourth quarter of 2024 which were originally anticipated to be drilled in the first quarter of 2026. Closing of the transaction is expected to occur by the end of 2024, subject to the satisfaction of customary closing conditions. (1) Based on the i3 Energy GLJ Report dated July 31, 2024. See "Presentation of Oil and Gas Information". (2) Does not include the $3 million non-cash proceeds relating to the capital carry of the first Simonette well by Logan Contact Information For investor and media inquiries please contact: Gary Guidry President & Chief Executive Officer Ryan Ellson Executive Vice President & Chief Financial Officer +1-403-265-3221 info@grantierra.com About Gran Tierra Energy Inc. Gran Tierra Energy Inc. together with its subsidiaries is an independent international energy company currently focused on oil and natural gas exploration and production in Canada, Colombia and Ecuador. The Company is currently developing its existing portfolio of assets in Canada, Colombia and Ecuador and will continue to pursue additional new growth opportunities that would further strengthen the Company's portfolio. The Company's common stock trades on the NYSE American, the Toronto Stock Exchange and the London Stock Exchange under the ticker symbol GTE. Additional information concerning Gran Tierra is available at www.grantierra.com . Except to the extent expressly stated otherwise, information on the Company's website or accessible from our website or any other website is not incorporated by reference into and should not be considered part of this press release. Investor inquiries may be directed to info@grantierra.com or (403) 265-3221. Gran Tierra's Securities and Exchange Commission (the " SEC ") filings are available on the SEC website at http://www.sec.gov . The Company's Canadian securities regulatory filings are available on SEDAR+ at http://www.sedarplus.ca and UK regulatory filings are available on the National Storage Mechanism website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism . Forward Looking Statements and Legal Advisories: This press release contains opinions, forecasts, projections, and other statements about future events or results that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and financial outlook and forward looking information within the meaning of applicable Canadian securities laws (collectively, " forward-looking statements "). All statements other than statements of historical facts included in this press release regarding our business strategy, plans and objectives of our management for future operations, capital spending plans and benefits of the changes in our capital program or expenditures, our liquidity and financial condition, and those statements preceded by, followed by or that otherwise include the words "expect," "plan," "can," "will," "should," "estimate," and "believes," derivations thereof and similar terms identify forward-looking statements. In particular, but without limiting the foregoing, this press release contains forward-looking statements regarding: the benefits of the transaction, the use of proceeds from the sale of an interest in the Assets, the Company's drilling program, access to infrastructure and capital expenditures, future net cash flows from oil and gas properties, and the Company's future debt levels. The forward-looking statements contained in this press release reflect several material factors and expectations and assumptions of Gran Tierra including, without limitation, that Gran Tierra will continue to conduct its operations in a manner consistent with its current expectations, pricing and cost estimates (including with respect to commodity pricing and exchange rates), the ability of Gran Tierra to successfully develop and drill wells, the performance of Logan as operator of the Assets, and the ability of Gran Tierra to execute its business and operational plans in the manner currently planned. Among the important factors that could cause our actual results to differ materially from the forward-looking statements in this press release include, but are not limited to performance by Logan as operator in a manner different than currently expected by the Company and the factors detailed from time to time in Gran Tierra's periodic reports filed with the Securities and Exchange Commission, including, without limitation, under the caption "Risk Factors" in Gran Tierra's Annual Report on Form 10-K for the year ended December 31, 2023 filed February 20, 2024, and its other filings with the SEC. These filings are available on the SEC website at http://www.sec.gov and on SEDAR+ at www.sedarplus.ca . The forward-looking statements contained in this press release are based on certain assumptions made by Gran Tierra based on management's experience and other factors believed to be appropriate. Gran Tierra believes these assumptions to be reasonable at this time, but the forward-looking statements are subject to risk and uncertainties, many of which are beyond Gran Tierra's control, which may cause actual results to differ materially from those implied or expressed by the forward looking statements. All forward-looking statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by Gran Tierra that Gran Tierra believes these forward-looking statements continue to be true as of any subsequent date. Actual results may vary materially from the expected results expressed in forward-looking statements. Gran Tierra disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. In addition, historical, current and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. Presentation of Oil and Gas Information All reserves value, future net revenue and ancillary information contained in this press release have been prepared by i3 Energy plc's (" i3 Energy ") (which was acquired by Gran Tierra Energy on October 31, 2024) independent qualified reserves evaluator GLJ Ltd. (" GLJ ") in a fair market value report with an effective date of July 31, 2024 (the " i3 Energy GLJ Report ") and calculated in compliance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (" NI 51-101 ") and the Canadian Oil and Gas Evaluation Handbook (" COGEH "), unless otherwise expressly stated. Barrel of oil equivalents (" boe ") have been converted on the basis of six thousand cubic feet (" Mcf ") natural gas to 1 bbl of oil. Boe's may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In addition, given that the value ratio based on the current price of oil as compared with natural gas is significantly different from the energy equivalent of six to one, utilizing a boe conversion ratio of 6 Mcf: 1 bbl would be misleading as an indication of value. The following reserves categories are discussed in this press release: Proved, Proved plus Probable and Proved plus Probable plus Possible and Proved Developed Producing. Proved reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves. Probable reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves. Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10% probability that the quantities actually recovered will equal or exceed the sum of Proved plus Probable plus Possible reserves. Proved developed producing reserves are those proved reserves that are expected to be recovered from completion intervals open at the time of the estimate. These reserves may be currently producing or, if shut-in, they must have previously been on production, and the date of resumption of production must be known with reasonable certainty. Certain terms used in this press release but not defined are defined in NI 51-101, CSA Staff Notice 51-324 – Revised Glossary to NI 51-101 Standards of Disclosure for Oil and Gas Activities (" CSA Staff Notice 51-324 ") and/or the COGEH and, unless the context otherwise requires, shall have the same meanings herein as in NI 51-101, CSA Staff Notice 51-324 and the COGEH, as the case may be. Estimates of net present value and future net revenue contained herein do not necessarily represent fair market value. Estimates of reserves and future net revenue for individual properties may not reflect the same level of confidence as estimates of reserves and future net revenue for all properties, due to the effect of aggregation. There is no assurance that the forecast price and cost assumptions applied by GLJ in evaluating i3 Energy's reserves will be attained and variances could be material. There are numerous uncertainties inherent in estimating quantities of crude oil and natural gas reserves. The reserves information set forth in the i3 Energy GLJ Report are estimates only and there is no guarantee that the estimated reserves will be recovered. Actual reserves may be greater than or less than the estimates provided therein. All evaluations of future net revenue contained in the i3 Energy GLJ Report are after the deduction of royalties, operating costs, development costs, production costs and abandonment and reclamation costs but before consideration of indirect costs such as administrative, overhead and other miscellaneous expenses. It should not be assumed that the estimates of future net revenues presented in this press release represent the fair market value of the reserves. References to a formation where evidence of hydrocarbons has been encountered is not necessarily an indicator that hydrocarbons will be recoverable in commercial quantities or in any estimated volume. i3 Energy's reported production is a mix of light crude oil and medium, heavy crude oil, tight oil, conventional natural gas, shale gas and coal bed methane for which there is not a precise breakdown since i3 Energy's oil sales volumes typically represent blends of more than one product type. Well test results should be considered as preliminary and not necessarily indicative of long-term performance or of ultimate recovery. Well log interpretations indicating oil and gas accumulations are not necessarily indicative of future production or ultimate recovery. If it is indicated that a pressure transient analysis or well-test interpretation has not been carried out, any data disclosed in that respect should be considered preliminary until such analysis has been completed. References to thickness of "oil pay" or of a formation where evidence of hydrocarbons has been encountered is not necessarily an indicator that hydrocarbons will be recoverable in commercial quantities or in any estimated volume. Disclosure of Reserve Information and Cautionary Note to U.S. Investors Unless expressly stated otherwise, all estimates of proved, probable and possible reserves and related future net revenue disclosed in this press release have been prepared in accordance with NI 51-101. Estimates of reserves and future net revenue made in accordance with NI 51-101 will differ from corresponding estimates prepared in accordance with applicable SEC rules and disclosure requirements of the U.S. Financial Accounting Standards Board (" FASB "), and those differences may be material. NI 51-101, for example, requires disclosure of reserves and related future net revenue estimates based on forecast prices and costs, whereas SEC and FASB standards require that reserves and related future net revenue be estimated using average prices for the previous 12 months. In addition, NI 51-101 permits the presentation of reserves estimates on a "company gross" basis, representing Gran Tierra's working interest share before deduction of royalties, whereas SEC and FASB standards require the presentation of net reserve estimates after the deduction of royalties and similar payments. There are also differences in the technical reserves estimation standards applicable under NI 51-101 and, pursuant thereto, the COGEH, and those applicable under SEC and FASB requirements. In addition to being a reporting issuer in certain Canadian jurisdictions, Gran Tierra is a registrant with the SEC and subject to domestic issuer reporting requirements under U.S. federal securities law, including with respect to the disclosure of reserves and other oil and gas information in accordance with U.S. federal securities law and applicable SEC rules and regulations (collectively, " SEC requirements "). Disclosure of such information in accordance with SEC requirements is included in the Company's Annual Report on Form 10-K and in other reports and materials filed with or furnished to the SEC and, as applicable, Canadian securities regulatory authorities. The SEC permits oil and gas companies that are subject to domestic issuer reporting requirements under U.S. federal securities law, in their filings with the SEC, to disclose only estimated proved, probable and possible reserves that meet the SEC's definitions of such terms. Gran Tierra has disclosed estimated proved, probable and possible reserves in its filings with the SEC. In addition, Gran Tierra prepares its financial statements in accordance with United States generally accepted accounting principles, which require that the notes to its annual financial statements include supplementary disclosure in respect of the Company's oil and gas activities, including estimates of its proved oil and gas reserves and a standardized measure of discounted future net cash flows relating to proved oil and gas reserve quantities. This supplementary financial statement disclosure is presented in accordance with FASB requirements, which align with corresponding SEC requirements concerning reserves estimation and reporting. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.The 11-2 Minnesota Vikings are set to take the field on Monday Night Football this week, with a chance to lock in a playoff spot right in front of their home crowd. In fact, they might already have their playoff ticket punched before kickoff Monday night. The Vikings had a shot at locking in a playoff spot last week . They handled their business against the Falcons, but things didn’t fall into place with the other games. This week, though, the path to clinching looks a whole lot easier. How can the Minnesota Vikings clinch a playoff spot vs Chicago Bears? The simplest way for the Minnesota Vikings to lock in a playoff spot this week is pretty straightforward: just win. If they take down the Chicago Bears, the Vikings secure their place in the postseason. However, the Vikings could already have their playoff spot locked in by the time they play on Monday night. All they need is for one of two things to happen: either the Rams lose to the 49ers on Thursday Night Football or the Seahawks fall to the Packers on Sunday Night Football. The #Vikings can officially clinch a playoff berth in week 15 with any of these following outcomes occurring (eliminated ties): 1) #Rams loss to #49ers on TNF OR 2) #Seahawks loss to #Packers on SNF OR 3) #Vikings win against #Bears pic.twitter.com/oxqL29jQzO It’s kind of wild that all three scenarios are happening during primetime games. You’d think there’s a good chance at least one of the two teams loses, which would lock in a Vikings playoff spot before Monday night. But if that doesn’t happen, the Vikings will have the chance to clinch their playoff berth in front of the home crowd on Monday night. The Vikings also have a real shot at locking in the 6th seed this week, and honestly, it’s simpler than you’d expect. Here’s what needs to go down: Vikings beat that Bears Saints beat the Commanders If those two things happen, the Minnesota Vikings will lock in at least the 6th seed. With plenty of football left, there’s even a chance they could push for the number one seed, but that’s something to worry about in the weeks ahead. This article first appeared on Minnesota Sports Fan and was syndicated with permission.
Strong Partnership ROHM and Valeo leverage their combined strengths and intensive exchange to achieve high- performance powertrains. Nicolas Gelez, Valeo Power Inverter Platform Director at Valeo (right), Christophe Chevalier, Power Purchasing Vice President at Valeo (center), and Wolfram Harnack, President at ROHM Semiconductor GmbH (left), value the good cooperation. Valeo is broadening access to efficient, electrified mobility across various vehicle types and markets from the smallest one (ebikes), through the mainstream (passenger cars) to the largest one (eTrucks). By combining Valeo's expertise in mechatronics, thermal management and software development with ROHM's power modules, Valeo drives the power electronics solution forward, contributing to the performance, efficiency, and decarbonization of automotive systems worldwide. ROHM and Valeo have been collaborating since 2022, initially focusing on technical exchanges aimed at improving the performance and efficiency of the motor inverter - a key component in the propulsion systems of electric vehicles (EVs) and plug-in hybrids (PHEVs). By refining power electronics, both companies aim to offer optimized cost/performance by delivering higher energy efficiency, reducing heat generation thanks to an optimized cooling and mechatronic integration, and increasing overall reliability with a SiC packaging. "We are pleased to support Valeo, a renowned automotive supplier, with our power semiconductors. ROHM's TRCDRIVE pack provides high power density, leading to an improved power efficiency. Together, we contribute to the development of highly efficient powertrains by fostering the collaboration with Valeo,” said Wolfram HARNACK, President ROHM Semiconductor GmbH. "This partnership marks, for Valeo Power Division, a significant step forward in delivering advanced and high-efficient power electronics,” says Xavier DUPONT, Valeo Power Division CEO. "Together, we aim to set new industry standards for high voltage inverters and accelerate the transition towards more efficient and affordable electric mobility.” These evolutions are all essential to supporting the growing demand for longer range, faster charging capabilities and, overall, a high-performance and an affordable inverter for BEVs and PHEVs. Valeo will start supplying a first series project in early 2026. ROHM and Valeo will contribute to the improvement of efficiency and downsizing of Valeo's next generation of xEV inverters. Background on ROHM's TRCDRIVE pack TRCDRIVE pack is a trademark for ROHM's SiC molded module developed for traction inverter drives. This product features high power density and a unique terminal configuration, solving the key challenges of traction inverters in terms of miniaturization, higher efficiency, and fewer person-hours. Because SiC enables low-loss power conversion under high-voltage conditions, combining Valeo's component technology, casing design and thermal management expertise with ROHM's power module creates a synergistic effect. Through both companies' collaboration in automotive power electronics, they contribute to achieving a decarbonized society by enhancing the performance and efficiency of the motor inverter. More information is available at: https://www.rohm.com/news-detail?news-title=2024-06-11_news_trcdrive-pack&defaultGroupId=false TRCDRIVE packTM is a trademark or registered trademark of ROHM Co., Ltd. About Valeo Valeo is a technology company and partner to all automakers and new mobility players worldwide. The company innovates to make mobility safer, smarter and more sustainable. Valeo enjoys technological and industrial leadership in electrification, driving assistance systems, reinvention of the interior experience and lighting everywhere. These four areas, vital to the transformation of mobility, are the Group's growth drivers. https://www.valeo.com/ Valeo in figures: 22 billion euros in sales in 2023 | 109 600 employees, 28 countries, 159 plants, 64 research and development centers and 19 distribution platforms (June 30, 2024). Valeo is listed on the Paris stock Exchange. About ROHM Semiconductor ROHM, a leading semiconductor and electronic component manufacturer, was established in 1958. From the automotive and industrial equipment markets to the consumer and communication sectors, ROHM supplies ICs, discretes, and electronic components featuring superior quality and reliability through a global sales and development network. The company's strengths in the analog and power markets allow ROHM to propose optimized solutions for entire systems that combine peripheral components (i.e., transistors, diodes, resistors) with the latest SiC power devices, as well as drive ICs that maximize their performance. https://www.rohm.com/ Attachment Strong Partnership CONTACT: Keng Ly ROHM Semiconductor (248) 348-9920 [email protected] Heather Savage BWW Communications (408) 507-4398 [email protected]
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