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Across Europe, Syrians hold joyful rallies to celebrate fall of AssadUniting to fight New York City’s housing crisis
Nearly 100 former senior U.S. diplomats and intelligence and national security officials have urged Senate leaders to schedule closed-door hearings to allow for a full review of the government's files on former Rep. Tulsi Gabbard , Donald Trump's pick to be national intelligence director. The former officials, who served in both Democratic and Republican administrations, said they were "alarmed" by the choice of Gabbard to oversee all 18 U.S. intelligence agencies. They said her past actions "call into question her ability to deliver unbiased intelligence briefings to the President, Congress, and to the entire national security apparatus." A spokesperson for Gabbard on the Trump transition team on Thursday denounced the appeal as an "unfounded" and "partisan" attack. Among those who signed the letter were former Deputy Secretary of State Wendy Sherman, former NATO Deputy Secretary General Rose Gottemoeller, former national security adviser Anthony Lake, and numerous retired ambassadors and high-ranking military officers. They wrote to current Democratic Senate Majority Leader Chuck Schumer and incoming Republican Majority Leader John Thune on Wednesday to urge the closed briefings as part of the Senate's review of Trump's top appointments. They urged that Senate committees "consider in closed sessions all information available to the U.S. government when considering Ms. Gabbard's qualifications to manage our country's intelligence agencies, and more importantly, the protection of our intelligence sources and methods." The letter singles out Gabbard's 2017 meetings in Syria with President Bashar Assad, who is supported by Russian, Iranian and Iranian-allied forces in a now 13-year war against Syrian opposition forces seeking his overthrow. The U.S., which cut relations with Assad's government and imposed sanctions over his conduct of the war, maintains about 900 troops in opposition-controlled northeast Syria, saying they are needed to block a resurgence of extremist groups. Gabbard, a Democratic member of Congress from Hawaii at the time of her Syria trip, drew heavy criticism for her meetings with a U.S. adversary and brutal leader. As the letter notes, her statements on the wars in the Middle East and Ukraine have aligned with Russian talking points, diverging from U.S. positions and policy. Gabbard, throughout her political career, has urged the U.S. to limit military engagement abroad other than combatting Islamic extremist groups. She has defended the Syria trip by saying it is necessary to engage with U.S. enemies. In postings on social media earlier this year, she confirmed that the U.S. had for a time placed her "on a secret terror watch list" as a "potential domestic terror threat." She blamed political retaliation. Neither she nor U.S. authorities have publicly detailed the circumstances involved. Alexa Henning, a spokesperson for Gabbard with the Trump team, called the letter sent to the Senate leaders "a perfect example" of why Trump chose Gabbard for this position. "These unfounded attacks are from the same geniuses who have blood on their hands from decades of faulty 'intelligence,'" and use classified government information as a "partisan weapon to smear and imply things about their political enemy," Henning said. A spokesperson for Thune did not immediately respond to questions about the request.East Carolina cornerback Shavon Revel Jr., a potential first-round pick, declared for the 2025 NFL Draft on Friday. Revel, who sustained a torn left ACL in practice in September, had one season of eligibility remaining. "After an incredible journey at East Carolina, I am officially declaring for the 2025 NFL Draft," the senior posted on social media. "... Pirates nation, thank you for your unwavering energy and support every game. Representing ECU is an honor, and I look forward to continuing to do so on Sundays!" Revel recorded two interceptions in three games this season, returning one 50 yards for a touchdown on Sept. 14 against Appalachian State. Over three seasons with the Pirates, Revel had three interceptions, 15 passes defensed and 70 tackles in 24 games. He was a second-team All-American Athletic Conference selection last season. ESPN draft analyst Mel Kiper Jr. ranked Revel as the No. 2 cornerback and No. 23 overall prospect in the 2025 draft class. --Field Level Media
TOP darts players have become household celebrities and sport’s equivalent of rock stars, according to Nathan Aspinall. The Asp , 33, has changed his family’s life for the better by earning millions from the sport over the past few years. Thanks to the emergence of prodigious teen Luke Littler , part of the same management group as Aspinall, the profile and promotion of the elite throwers jumped to another level. Two-time major champion Aspinall — who hails from Stockport — says it is rare for him to go out these days without being stopped and asked for a selfie. And he compares it to the same nationwide attention Jimmy White , Steve Davis , Alex Higgins and Tony Knowles captured when snooker enjoyed a boom time around 40 years ago. Barry Hearn ’s Matchroom stable of potters even had a top-ten hit alongside Chas & Dave in 1986. READ MORE ON DARTS Aspinall plays Andrew Gilding in round three of the PDC World Championship on Saturday afternoon after seeing off Leonard Gates. And the Asp said: “Being in the spotlight is tough. “I do believe we are the snooker players of the 80s. Snooker players in the 80s were hanging around with the likes of Guns N’ Roses. “Everyone wants a piece of a darts player now. Everyone loves darts and, yes, it comes from Luke Littler But Luke Littler is a 17-year-old kid. Most read in Darts FOOTBALL FREE BETS AND SIGN UP DEALS “The other lads, myself, Michael Smith , Gezzy Price, they are the ones they can get close up to. “I might be out in Manchester on a Friday night and, oh my God, it’s mental. “It’s unbelievable but you’ve got to look at it in a positive light. And think, ‘Wow, darts is that popular’. I never thought I was a celebrity until this year. But I am. “And people love meeting me, love having pictures. “What Littler and Luke Humphries have done over the last 12 months, it’s been unbelievable. “Every single darts player I know in the top 16, we thank them for what they’re doing because we are going to achieve and make a lot of money. “Do I know any rock stars? Well, I’m good mates with the guys from The Blossoms. “I went to school with them. I think the only difference is the fact it’s all about social media nowadays, isn’t it?" LUKE LITTLER has taken the darts world by storm since exploding onto the scene at the PDC World Championship at the beginning of the year. The Nuke reached the final on his Ally Pally debut at just 16 years of age - smashing records along the way. He has then gone on to win a host of PDC events and the Premier League title - which he claimed at the O2 Arena by beating world champion Luke Humphries in May . He also finished his first season in the World Series as the No1 ranked player . He has joined Jude Bellingham on the Forbes 30 Under 30 Europe list . And the teenage titan even had to snub an invite from the WWE. The Sun exclusively revealed that Littler is plotting to create a fitness empire. He is also cashing in away from the Oche thanks to an Instagram side hustle. And he's even the face of a brand new cereal. But he is newly single after splitting from girlfriend Eloise Milburn following a 10-month relationship. Check out all of our latest Luke Littler stories .Donald Trump has unveiled William Joseph McGinley as the first official hire for the Department of Government Efficiency (DOGE) , an advisory body designed to overhaul federal spending and regulations. McGinley will serve as counsel for the initiative, which is being spearheaded by high-profile figures including Tesla CEO Elon Musk and biotech entrepreneur Vivek Ramaswamy. Although the name suggests otherwise, DOGE is not an official government department. Instead, it functions as a presidential advisory body tasked with recommending significant cuts to government spending and bureaucracy. Trump's latest move signals his administration's intent to streamline federal operations as a key agenda point for his presidency. Announcing McGinley's appointment on Truth Social, Trump described him as pivotal to the programme's mission. "Bill will play a crucial role in liberating our economy from burdensome regulations, excess spending, and government waste," Trump stated. McGinley, a seasoned political lawyer, previously served as counsel for the Republican National Committee and the National Republican Senatorial Committee. He was also considered for the role of White House counsel under Trump, a position that ultimately went to David Warrington. As DOGE's counsel, McGinley will advise the Office of Management and Budget on streamlining federal bureaucracy. The brainchild of Musk and Ramaswamy, DOGE aims not only to slash spending but also to restore what they describe as "democratic control" over the United States government. Writing in a recent opinion piece for The Wall Street Journal , the duo argued that unelected civil servants within government agencies wield disproportionate power, creating an "existential threat" to democratic governance. Musk and Ramaswamy estimate DOGE could identify up to $2 trillion (£1.6 trillion) in savings, equivalent to roughly one-third of annual federal spending. Their vision includes presenting lists of regulatory changes directly to Trump, enabling him to pause enforcement through executive action and begin the process of rescission. "This is not merely about saving money; it's about dismantling the entrenched bureaucracy that undermines the republic," they wrote. Elon Musk, known for his ambitious ventures, has taken to X (formerly Twitter) to recruit volunteers for DOGE. Warning that the work will be "tedious" and without financial compensation, Musk has described the initiative as a labour of love for "small-government crusaders." Musk himself has pledged to forgo any salary for his involvement in DOGE. The advisory body is designed to be temporary, with a planned expiration date of 4 July 2026, coinciding with the 250th anniversary of the Declaration of Independence. While DOGE has garnered strong backing from small-government Republicans, it has also received tentative support from the populist left, particularly for its potential to address excessive defence spending. According to reports , Bernie Sanders praised Musk's scrutiny of Pentagon expenditures, highlighting the Department of Defence's failure to pass seven consecutive audits and its inability to account for billions in spending. Similarly, progressive commentator Cenk Uygur voiced his approval in an interview, stating, "If Elon and Trump manage to cut the Pentagon's budget or address conflicts of interest among military generals, it would be a victory for reforms the left has sought for decades." Despite its lofty goals, DOGE faces significant hurdles. Critics argue that dismantling entrenched bureaucratic structures is easier said than done, while opponents from the political left and right remain sceptical of the programme's viability and intent. Additionally, Musk's insistence on volunteer labour has raised questions about whether DOGE can attract enough qualified personnel to achieve its ambitious goals.NEW YORK (AP) — U.S. donors gave $3.6 billion on Tuesday, an increase from the past two years, according to estimates from the nonprofit GivingTuesday . The Tuesday after Thanksgiving, now known as GivingTuesday, has become a major day for nonprofits to fundraise and otherwise engage their supporters each year, since the 92nd St Y in New York started it as a hashtag in 2012. GivingTuesday has since become an independent nonprofit that connects a worldwide network of leaders and organizations who promote giving in their communities. “This just really shows the generosity, the willingness of American citizens to show up, particularly collectively,” said Asha Curran, CEO of the nonprofit GivingTuesday. “We are just seeing the power of collective action and particularly collective giving over and over and over again.” This year, about 18.5 million people donated to nonprofits and another 9.2 million people volunteered, according to GivingTuesday's estimates. Both the number of donors and the number of volunteers increased by 4% from the group's 2023 estimates. “For us, it’s not just about the number of dollars," Curran said. "It’s about the number of people who feel like they have agency over the way their communities progress forward into the future.” The nonprofit GivingTuesday estimates the amount of money and goods donated and the number of participants using data from donor management software companies, donation platforms, payment processors and donor-advised funds. Curran said they are purposely conservative in their calculations. Nonprofits in the U.S. raised $3.1 billion in both 2022 and 2023 on GivingTuesday. That mirrored larger giving trends where the overall amount of donations dropped in 2022 and mostly held steady in 2023 after accounting for inflation. It’s never easy to predict current giving trends but Una Osili, associate dean at the Indiana University Lilly Family School of Philanthropy, said there were economic forces pushing in both directions. “At the very same time, there’s a lot of uncertainty, especially around prices, the cost of living, the supermarket toll that people are expecting continue even though inflation has moderated,” she said. Donating or volunteering with nonprofits aren't the only ways people participate in their communities. Many give to crowdfunding campaigns, political causes or support people directly in their networks. But tracking charitable donations is one way that researchers use to understand people's civic engagement. “This country is undeniably in a lot of pain and very divided right now,” Curran said. “And so to have a day that felt as hopeful and as optimistic as yesterday did, I’m sure was not only comforting to me, but to many, many millions of people.” Associated Press coverage of philanthropy and nonprofits receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy .Kingdom Come: Deliverance 2 goes gold, will now launch a week early
AP News in Brief at 6:04 p.m. ESTLewandowski joins Ronaldo and Messi in Champions League 100-goal club. Haaland nets 2 but City draws
Pep Guardiola claims three-quarters of the Premier League want to see Manchester City relegated over financial irregularities. But the City boss has vowed to stay on and lift the club back to the top even if they are sent all the way down to the National League. Guardiola ended speculation over his immediate future this week by extending his contract, which had been due to expire at the end of the season, through to the summer of 2027. That has given the club some stability at a time of great uncertainty as they fight 115 charges related to alleged breaches of the Premier League’s financial regulations. City have denied all wrongdoing but their punishment if found guilty could be severe, with demotion even a possibility. Guardiola has strongly defended the club in the past and is happy to continue doing so. The Spaniard said: “I don’t enjoy it, I prefer not to be in that position, but once it’s there I love it because, when you believe in your club, and the people there – I believe what they say to me and the reasons why. “I cannot say yet because we’re awaiting the sentence in February or March – I don’t know when – but at the same time, I like it. “I read something about the situation and how you need to be relegated immediately. Seventy-five per cent of the clubs want it, because I know what they do behind the scenes and this sort of stuff. “I said when all the clubs accused us of doing something wrong, (and people asked) what happens if we are relegated, (I said) I will be here. “Next year, I don’t know the position of the Conference they are going to (put) us, (but) we are going to come up and come up and come back to the Premier League. I knew it then and I feel it now.” The immediate priority for Guardiola, who said his contract negotiations were completed in “just two hours”, is to arrest a run of four successive defeats in all competitions. Yet, ahead of their return to action against Tottenham at the Etihad Stadium on Saturday, the champions continue to grapple with a lengthy injury list. Mateo Kovacic is their latest casualty after sustaining a knock on international duty that could keep him out for up to a month. On the positive side, defenders Nathan Ake, John Stones and Manuel Akanji could feature and Jack Grealish is also closing in on a return after a month out. Much to Guardiola’s frustration, Grealish was called up by England for their recent Nations League games, although he later withdrew. Guardiola said: “I want the best for Jack and I want the best for Jack with the national team but the doctor said to me that he was not ready to play. “I know (England) want him but they have 200 players to select from and Jack was not fit. He had to recover from many things.” Kyle Walker played for England against both Greece and the Republic of Ireland despite limited game time since suffering injury in the October international break. Guardiola said: “If he is fit I like him to play in the national team. It is not a problem, don’t misunderstand me. “Kyle has a dream to make 100 caps for the national team. Do I want to cancel this dream? Absolutely not. “But if you are not fit, if you cannot play here, you cannot play for the national team. It is quite obvious.”
Syrian President Bashar al-Assad’s government has fallen after a stunning territorial advance by opposition groups over the past few days. On Sunday morning, state television announced the “triumph of the great Syrian revolution and the fall of the criminal Assad regime.” Assad decided to step down and left the country, Russia’s foreign ministry later said in a statement. The toppling of the longtime ruler is sending shock waves through the Middle East and will be a major blow to Russia and Iran, his main foreign backers. Hayat Tahrir Al-Sham, which has led the push to oust Assad and his government, entered Damascus on Saturday evening and captured the key city of Homs — about 100 miles (160 kilometers) north of the capital — around the same time. Other areas of the country, including in the north near the Turkish border and in the south, have been captured by different groups. Videos and broadcast footage showed Syrians in Damascus and elsewhere celebrating the downfall of the widely despised regime. There were also signs of jubilation in Turkey, which hosts millions of Syrian refugees. HTS’s leader, Ahmed Al-Sharaa, called on all of the Syrian government’s forces in the capital to stand down. Al-Sharaa, also known as Abu Mohammed Al-Jolani, said Prime Minister Mohammad Ghazi al-Jalali will remain in his role until there’s an official handover. Al-Jalali, speaking to Al Arabiya television, said he didn’t know where Assad was. The Syrian Observatory for Human Rights, which tracks the conflict, said he took a flight from Damascus and left the country. U.S. officials currently believe Assad is in Moscow, according to a person familiar with the matter. The 59-year-old, who took over from his father Hafez in 2000, made a last-ditch attempt to remain in power, including indirect diplomatic overtures to the U.S. and President-elect Donald Trump, Bloomberg reported on Saturday. In a sign of how weak his military position was, he ordered his army to fall back on Damascus, essentially ceding much of the country, including Homs, to the insurgents. Syria was reclassified as a low-income country by the World Bank in 2018, with its gross domestic product collapsing by more than half between 2010 and 2020. Its exports chiefly comprise products such as olive oil, nuts and phosphates, according to the CIA World Factbook. It also produces and traffics narcotics, the U.S. State Department says. Trump took to social media to say that the U.S. should “have nothing to do with” the developments in Syria. “This is not our fight,” he said. “Let it play out. Do not get involved!” President Joe Biden’s administration, in power until next month, showed little inclination to intervene and has said the U.S. has nothing to do with HTS’s rebellion. The U.S. and Israel, which borders Syria, are watching warily. Assad was no ally of theirs, and Washington has severely sanctioned the Syrian government. But HTS is designated a terrorist organization by the U.S. and other Western countries. On Sunday morning, Israel said it had deployed forces in a buffer zone near Syria to protect communities in the Golan Heights. The Israeli military added it’s not involved with what’s happening in Syria. “It should be remembered that these rebels aren’t lovers of Zion,” Danny Danon, the Israeli ambassador to the United Nations, told Israel’s Channel 14. “It’s true that everyone is today welcoming the weakening of Iran — something that is certainly very significant from a regional perspective. But there is also concern that parties aligned with terrorist organizations” will use Assad’s weapons against Israel. HTS, a Sunni group, broke away from al-Qaeda in 2016 and has tried to portray itself since then as more moderate. Al-Sharaa, in an interview with CNN on Dec. 5, said non-Muslims and other minorities would be safe in Syrian areas overseen by HTS. The leader, in his early 40s, attributed the success of opposition forces to greater discipline and unity. German Foreign Minister Annalena Baerbock in a statement warned “the country must not now fall into the hands of other radicals — whatever guise.” France called on its partners “to do their utmost to help the Syrians find the path to reconciliation and reconstruction through an inclusive political solution.” Syria’s political situation is likely to remain fluid as various groups try to bolster their positions, according to risk consulting firm RANE. “The collapse will likely trigger a contested political process among competing rebel factions to create a provisional government,” said Freddy Khoueiry, RANE’s global security analyst. “This will likely be a slow process prone to violence as foreign actors try to shape the postwar balance of power, making an unstable and fragmented Syria the most likely outcome in the near term.” Assad lost large swaths of the northwest of the country in late November as opposition fighters made a sudden advance out of Idlib province. They first captured Aleppo, one of the biggest cities in Syria, and then advanced on Hama. The rapid collapse of Syria’s government has taken Russia, Iran and the U.S. by surprise. In 2015, Russia and Iran came to Assad’s aid and helped turn the tide in Syria’s war — which began four years earlier — in his favor. This time both Tehran and Moscow, which has a naval base at the Syrian port of Tartus, have been stretched by conflicts in the Middle East and Ukraine. Iran tried to drum up support for Assad among Arab states. It also said it would send Iranian troops to Syria if he requested it, but was ultimately unwilling or unable to. Moreover, Tehran’s most powerful proxy militia group, Lebanon-based Hezbollah, has been hugely degraded since September by war with Israel. Its fighters were crucial to helping Assad stay in power from early in the civil war. The Syrian conflict has left between 300,000 to 500,000 people dead and displaced more than 10 million, with many of them fleeing abroad, according to United Nations agencies and Syrian organizations. (With assistance from Peter Martin, Dan Williams and Selcan Hacaoglu.) ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.Police say searchers in Pennsylvania don't expect to find woman in sinkhole alive
Donald Trump picks Missouri’s Billy Long to lead the IRS
ENGLEWOOD, Colo. (AP) — Cornerback Riley Moss is “good to go” for the Denver Broncos' crucial game at Cincinnati on Saturday. “He's doing good,” coach Sean Payton said Thursday. “He'll be ready to go.” The Broncos (9-6), who would end their eight-year playoff drought with a win or a tie against the Bengals (7-8), have sorely missed the second-year pro from Iowa since he sprained an MCL against Las Vegas in Week 12. The Broncos allowed 26.3 points per game during his absence. With Moss in the lineup opposite superstar Patrick Surtain II, Denver gave up just 16.8 points per game. Aside from allowing defensive coordinator Vance Joseph to go back to employing more man coverage, Riley's return is expected to give the Broncos defense back its bite. “I think he's got an awfully competitive juice, yeah, I would say you definitely felt his absence, not just physically as a player but also his presence," Payton said. Earlier this week, Surtain said, “it’s great to have him back” at practice. “I mean, you talk about a guy who was playing lights-out before the injury, but to see him back out there with confidence, out there practicing, getting his mojo back, it brings a lot of confidence to the team.” Moss has enjoyed a breakout season in Denver with 71 tackles, eight pass breakups and an interception. He played in 14 games as a rotation player his rookie season after recovering from core muscle surgery that relegated him to special teams and spot duty in 2023. Moss wasn't available for comment Thursday as he was receiving treatment during the locker room access period. Moss has been the perfect complement to Surtain because of the physical play, bravado and the production he provides as opposing offenses shy away from Surtain. “It's going to be really good” having him back on the field, outside linebacker Nik Bonitto said. “I mean, I know the work that he's been putting in to get back and just knowing the type of season that he's had I'm just happy that he's going to be able to come back against an opponent like this.” Denver's defense hasn't been the same without Moss. The Broncos allowed 32 points to the Cleveland Browns when former teammate Jerry Jeudy caught nine passes for a career-best 235 yards. Jonathan Taylor’s unforced fumble at the goal line as he was about to score a 41-yard touchdown and give Indianapolis a 20-3 lead saved the Broncos in Week 15 and allowed Denver to seize momentum and get the victory. And Denver couldn’t stop Justin Herbert , who led the Los Angeles Chargers back from a double-digit third-quarter deficit for a 34-27 win last week. AP NFL: https://apnews.com/hub/nfl
Not for distribution to United States newswire services or for dissemination in the United States Highlights: The Private Placement is undertaken in the context of a broader strategic review process the Company is conducting with the authorization of its Board of Directors, to explore and evaluate a range of potential alternatives for the Company to maximize shareholder value, with the assistance of ECM Capital Advisors, Eight Capital and Haywood Securities Inc. The potential initiatives may include, but are not limited to financings, corporate reorganization, strategic partnerships, acquisitions, divestitures and/or farm-outs, sale, and other forms of business combination. Pablo Navarro, Chairman and Chief Executive Officer of LNG Energy Group commented, "It has been a challenging year. Many issues have arisen with which we are dealing. Changes are being made and solutions are being implemented. Bottom line, the asset base is exceptional, and the future is bright. The turnaround is working, and we will work relentlessly to catapult the trajectory of the Company through a series of strategic initiatives that should ultimately contribute to meeting Colombia's need for natural gas.” Strategic Initiatives Drilling Campaign Upon a successful Private Placement, farm-out and/or JV Contribution (as defined herein), the Company will commence a drilling and recompletion campaign in Colombia. Chemical Stimulations The Company completed successfully the workover of the BN-1 well consisting of a chemical stimulation that increased the well's production by approximately 3x, offsetting losses caused by the presence of asphaltenes, fines and residues from drilling fluids. Prior to the stimulation, the well was producing at an average production of approximately 112 Mcf/d with a WHP of 72 psi on a 36/64” choke. Initial results of the stimulation showed an immediate production increase to 822 Mcf/d with a WHP of 328 psi on a 26/64” choke. The well is currently producing 350 Mcf/d with 114 psi in WHP and on a 22/64” choke. The Company intends to apply this technology to several other wells that also experienced a production decline due to the same root causes. Costs Optimization In order to reduce costs, the Company has implemented a corporate reorganization initiative which is expected to result in savings of approximately $1.5 to $2.0 million per annum. The Company continues to review ways to optimize its business and operations, including strategic partnerships with vendors, and rationalization of suppliers, inventory optimization, and adjusting the organizational structure of the Company to the current production context. Capital Strengthening The Company is in the process of farming out a part of its participating interest in the VIM-41 Block located onshore Colombia and pursuing a well development financing (the " JV Contribution ”) to raise capital to initiate the drilling of the B5 well located onshore Colombia. Furthermore, the Company intends to review options to optimize cash flow available for drilling vis a vis its financial obligations. Secured Convertible Debenture Financing In conjunction with its near-term development plans, the Company is pleased to announce that it has entered into an agreement with Eight Capital, as lead agent and bookrunner, on behalf of a syndicate of agents including Eight Capital, Haywood Securities Inc. and ECM Capital Advisors, (together, the " Agents ”) pursuant to which the Company has launched a proposed Private Placement on a "best efforts” agency basis in the aggregate principal amount of up to U.S.$15 million (the " Offering ”) senior secured convertible debentures (the " Convertible Debentures ”) to eligible investors. The terms and any applicable conditions precedent for the Convertible Debentures will be defined within the context of the market and should present a competitive opportunity for investors while unlocking shareholder value. Upon closing of the Offering, the Company will pay to the Agents a cash commission equal to 6% of the gross proceeds of the Offering. The Company is entitled to a President's List in the amount of up to U.S.$2 million pursuant to which no fees shall be paid to the Agents. The net proceeds of the Offering will be primarily used for the Company's next phase of drilling, workover and stimulation activities as well as for general working capital purposes. The Company expects that insiders and current stakeholders will participate in the Offering and, to date, has received interest from potential investors in the Offering. The insiders' participation in the Offering constitutes a "related party transaction” as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 ”). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities anticipated to be acquired by insiders, nor the consideration for the securities paid by such insiders, exceed 25% of the Company's market capitalization. As the specific participation of each related party that the Company expects will participate in the Offering has not been confirmed as of the date of this news release, additional information required under MI 61-101 will be provided in the Company's material change report with respect to the Offering, including a description of the interest of all related parties in the Offering, and where applicable, a description of the effect on the percentage of the securities of the Company held by related parties participating. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This mews release does not constitute an offer for sale of securities in the United States. The Offering is scheduled to close at a date the Company and the Agents deem appropriate and is subject to certain conditions including, but not limited to, the execution of an agency agreement and the receipt of all necessary regulatory and other approvals including that of the TSX Venture Exchange. All securities (and underlying securities) issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. Other Initiatives The Board of Directors, in consultation with its legal and business advisors, are actively considering other initiatives to enhance shareholder value. The Company may initiate a share consolidation or other capital reorganizations. Certain of the foregoing initiatives may require approval from the Company's senior lenders. Existing Asset Base The Company's current assets consist of the following: (1) Based upon a U.S.$ to C$ exchange rate of 1.00 : 1.41. (2) Calculated by dividing the Before-Tax NPV10 value of the Proved reserves as at December 31, 2023 by 155,534,426 common shares issued and outstanding as at December 31, 2023 and using a U.S.$:C$ exchange rate of $1.41. The per share valuation excludes the value of the Company's non-oil and gas assets and net indebtedness. (3) Calculated by dividing the Before-Tax NPV10 value of the Proved reserves as at October 29, 2024 by 155,534,426 common shares issued and outstanding as at October 29, 2024 and using a U.S.$:C$ exchange rate of $1.41. Please see the Company's news release dated November 25, 2024 for more information. The per share valuation excludes the value of the Company's non-oil and gas assets and net indebtedness. Neither the TSXV nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this news release. About LNG Energy Group The Company is focused on the acquisition and development of natural gas production and exploration assets in Latin America. For more information, please visit www.lngenergygroup.com . For more information please contact: Angel Roa, Chief Financial Officer LNG Energy Group Corp. Website: www.lngenergygroup.com Email: [email protected] Find us on social media: LinkedIn: https://www.linkedin.com/company/lng-energy-group-inc/ Instagram: @lngenergygroup X: @LNGEnergyCorp CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news release contains "forward-looking information” and "forward-looking statements” (collectively, "forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements, and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance, often using phrases such as "expects”, "anticipates”, "plans”, "budget”, "scheduled”, "forecasts”, "estimates”, "believes” or "intends”, or variations of such words and phrases, or stating that certain actions, events or results "may” or "could”, "would”, "should”, "might” or "will” be taken to occur or be achieved, are not statements of historical fact and may be forward-looking statements. Specifically, this news release includes, but is not limited to, forward-looking statements relating to: the Company's business plans, strategies, priorities and development plans, including the strategic initiatives being considered by the Company and the corporate reorganization and anticipated annual savings therefrom; the application of the stimulation technology used for the BN-1 well workover on other wells of the Company; the anticipated benefits of the completion of various strategic initiatives being considered by the Company; the completion of the JV Contribution and completion of other options to optimize cash flow; the ability of the Company to book additional reserves in the future; the completion of the Offering; receipt of all regulatory approvals, including the approval of the TSXV, in connection with the Offering; the anticipated insider participation in the Offering; and the anticipated use of proceeds from the Offering. The Company's actual decisions, activities, results, performance, or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that the Company will derive from them. Information and statements relating to reserves are by their nature forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described exist in the quantities predicted or estimated, and can be profitably produced in the future. The recovery and reserve estimates of the Company's reserves provided herein are estimates only, and there is no guarantee that the estimated reserves will be recovered. Consequently, actual results may differ materially from those anticipated in the forward-looking statements (see the other advisories contained in this news release). Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include: the Company's ability to complete the Offering on the terms described herein or at all or to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and the delay or failure to receive regulatory or other approvals, including any approvals of the TSXV and the Company's senior lenders, for the Offering; general business, economic, competitive, political and social uncertainties; risks related to the Company's ability to complete any of the proposed strategic initiatives described in this news release on the terms described herein or at all; risks related to commodity prices; delay or failure to receive any necessary board, shareholder or regulatory approvals, factors may occur which impede or prevent LNG Energy Group's future business plans; and other factors beyond the control of LNG Energy Group. The intended use of the proceeds of the Offering by the Company might change if the Board of Directors of the Company determines that it would be in the best interests of LNG Energy Group. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements contained in this news release. Except as required by law, LNG Energy Group assumes no obligation to update the forward-looking statements, whether they change as a result of new information, future events or otherwise. CPPs Please see the Company's news releases dated April 24, 2024 and October 21, 2024 for additional information with respect to the CPPs. There can be no guarantee that the Company or LNG Venezuela shall be able to complete the acquisition terms required by PPSA. The CPPs were executed within the term of General License 44 issued by OFAC. The Company intends to operate in full compliance with the applicable U.S. economic sanctions laws. Advisory Note Regarding Oil and Gas Information The reserves information contained in this news release has been prepared in accordance with NI 51-101, but only presents a portion of the disclosure required thereunder. Complete reserves disclosure required in accordance with NI 51-101 in respect of the Company's Colombian assets for the year ended December 31, 2023 is available in the AIF. Complete reserves disclosure required in accordance with NI 51-101 in respect of the Company's Venezuelan assets will be available on SEDAR+ at www.sedarplus.ca concurrently with or before the filing of the Company's financial statements for the year ended December 31, 2024. Actual oil and natural gas reserves and future production may be greater than or less than the estimates provided in this news release. There is no assurance that forecast prices and costs assumed in the reserves reports referred to in this news release and presented in this news release, will be attained and variances from such forecast prices and costs could be material. The estimated future net revenue from the production of the disclosed oil and natural gas reserves in this news release does not represent the fair market value of these reserves. The estimates of reserves and future net revenue for individual properties may not reflect the same confidence level as estimates of reserves and future net revenue for all properties, due to the effects of aggregation. There are numerous uncertainties inherent in estimating quantities of crude oil, reserves and the future cash flows attributed to such reserves. The reserve and associated cash flow information set forth above are estimates only. In general, estimates of economically recoverable crude oil and natural gas reserves and the future net cash flows therefrom are based upon a number of variable factors and assumptions, such as historical production from the properties, production rates, ultimate reserve recovery, timing and amount of capital expenditures, marketability of oil and natural gas, royalty rates, the assumed effects of regulation by governmental agencies and future operating costs, all of which may vary materially. For those reasons, estimates of the economically recoverable crude oil and natural gas reserves attributable to any particular group of properties, classification of such reserves based on risk of recovery and estimates of future net revenues associated with reserves prepared by different engineers, or by the same engineers at different times, may vary. The Company's actual production, revenues, taxes and development and operating expenditures with respect to its reserves will vary from estimates thereof and such variations could be material. All evaluations and reviews of future net revenue are stated prior to any provisions for interest costs or general and administrative costs and after the deduction of estimated future capital expenditures for wells to which reserves have been assigned. The tax calculations used in the preparation of the reserves reports referred to in this news release are done at the field level in accordance with standard practice, and do not reflect the actual tax position at the corporate level which may be significantly different. Light crude oil is crude oil with a relative density greater than 31.1 degrees API gravity, medium crude oil is crude oil with a relative density greater than 22.3 degrees API gravity and less than or equal to 31.1 degrees API gravity, and heavy crude oil is crude oil with a relative density greater than 10 degrees API gravity and less than or equal to 22.3 degrees API gravity. 2 Reserves included herein are stated on a company gross basis (working interest before deduction of royalties without including any royalty interests). Information presented herein in respect of reserves and related information in respect of the Company's Venezuela assets is based on the Company's independent reserves evaluation dated October 28, 2024, with an effective date of April 30, 2024 prepared by Petrotech Engineering Ltd., details of which were provided in our press release issued on November 25, 2024.Sitime Corp's CFO Elizabeth Howe sells $878,120 in stock
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