It’s my desire for 2025 budget to work, but it’s not possible to achieve 15% inflation with double digit – AdebayoCLEVELAND, Ohio — Browns wide receiver Jerry Jeudy had the third-most receptions by a Browns receiver in a game during Sunday’s 20-3 loss to the Dolphins, but had he made three more catches, he would have surpassed the 14 Josh Gordon had on November 24, 2013 and Ozzie Newsome had on October 14, 1984. He had an opportunity for those three catches, too, and a fourth, but he dropped three and failed to get his feet inbounds on another, marring what was an otherwise strong day for the Browns’ new No. 1 receiver. “I guess I just wanted to make a play and got my eyes off the ball,” Jeudy said. “I can’t have crucial drops, especially on third down. That’s the money down. I’ve got to make those. I’ve got to catch the ball first before I make any move, any play. That’s on me.” More Cleveland Browns coverage Dorian Thompson-Robinson on loss to Dolphins, Jerry Jeudy, Tyler Huntley, and more: Transcript Kevin Stefanski on loss to Dolphins, Dorian Thompson-Robinson, injuries, and more: Transcript Browns running back Jerome Ford gives update after suffering ankle injury vs. Dolphins Week 18 NFL Preview: Find everything you need to know with our Week 18 NFL preview. Jeudy finished with 12 catches on 18 targets for 94 yards. His first drop came on a first-down throw by quarterback Dorian Thompson-Robinson with 1:37 left in the opening quarter at the Dolphins’ 46. Thompson-Robinson rolled to his right and threw back to Jeudy on the left. Dolphins safety Jevón Holland leapt in front of Jeudy and he was unable to haul the throw in inside the 30-yard line. “Hell yeah I’m frustrated,” Jeudy said looking back on the plays. “The first one was a big deep over route that would have been a big play,” he said. Jeudy’s next mistake wasn’t a drop, it was just sloppy footwork. With 11:20 left in the second quarter and the Browns at their own 20, Thompson-Robinson threw to Jeudy on the sideline, who was falling backwards. It looked like a catch initially, but in a league where wide receivers consistently manage to get both feet down in tighter quarters, Jeudy simply didn’t. His left foot touched down out of bounds. Stories by Dan Labbe With Browns’ draft position improving, can we trust this front office to pick the next quarterback? Browns lose starting cornerback to shoulder injury against Dolphins Browns starting running back leaves game against Dolphins, returns in third quarter Then, on the very next play, Jeudy dropped the ball again and it was almost disastrous. Jeudy motioned into the backfield and Thompson-Robinson threw to him standing to his right and, as Jeudy started to run, the ball bounced out of his hands. Miami recovered the ball and returned it for a touchdown, but an expedited review ruled the throw a forward pass and an incompletion. His third drop of the game came on third-and-six on the Browns’ opening drive of the third quarter, a sure conversion in front of Dolphins cornerback Jalen Ramsey, leaving Jeudy hopping and clapping his hands in frustration. “The under (route) third down and the bubble (screens), I’m just too ready to make a play,” Jeudy said. “I can’t have those drops like that.” Drops aren’t foreign to Jeudy, but he has improved dramatically from a rookie season in which, according to data from Pro Football Focus , he dropped 12 passes and had a drop percentage of 18.8%, the second-highest percentage in the league. Browns wide receiver Jerry Jeudy was unable to haul in this pass in the first half of Sunday's loss to the Dolphins. John Kuntz, cleveland.com He had 10 drops combined over his final three seasons in Denver. This year, he has eight drops and a drop percentage of 8.7%, tying him for 38th among qualified receivers. The reality is you can live with drops when a player produces as Jeudy has, especially over the last seven games — but when they come in bunches like they did today, it’s tough for everyone to stomach. Still, his quarterback, who threw an interception and lost a fumble, wasn’t about to blame his top target for Sunday’s offensive woes. “It’s a team sport. Especially in offensive football,” Thompson-Robinson said. “All 10 guys got to be working together to be able to make a play go. Ultimately, I’m the one with the ball in my hand. I have to make better decisions and can’t have those two turnovers.” Looking past the drops, the important development Sunday was Jeudy’s 18 targets, a career high, a week after he was targeted just three times in a 24-6 loss to the Bengals. “I wish it was more,” Thompson-Robinson said. “You know, it’s our best receiver. We have to be able to get the ball in his hands as much as possible.” Head coach Kevin Stefanski echoed that sentiment. “Jerry’s our best player on offense,” he said. “We’re trying to get him the ball any which way we can.” Jeudy leads the Browns with 84 catches and 1,166 yards, more than double the yardage of the team’s second-leading receiver, tight end David Njoku, who missed Sunday’s game and has 505 yards this season. Browns wide receiver Jerry Jeudy was targeted a career-high 18 times on Sunday against the Dolphins. Joshua Gunter, cleveland.com He is tied for fifth for most receptions in a season in Browns history and needs just six next week against the Ravens to set the team mark and pass two seasons by Newsome — 1983 and 1984 — and Kellen Winslow Jr. in 2006 for the all-time mark. He’s within shouting distance of the team’s second all-time yardage mark for a season. Currently sixth, he is eight yards behind Jarvis Landry’s 2019 season, 70 behind Webster Slaughter’s 1989, 84 behind Amari Cooper last season and 123 behind Braylon Edwards’ 2007 season. Josh Gordon’s 1,646 receiving yards in 2013 is the team record, 480 yards ahead of Jeudy. What does Jeudy want out of that Week 18 game in Baltimore? “I want to win,” he said. So how does he put a game like Sunday’s behind him to accomplish that goal? “The plays that you drop are going to be the one that’s in your head,” he said. “I just have to keep playing, not focus on those drops, just keep playing.” Football Insider newsletter free trial: Take a minute and sign up for a free trial of our Football Insider newsletter, featuring exclusive content from cleveland.com's Browns reporters.
Remembering Jimmy Carter: A Legacy of Peace and Partnership/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES . ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./ CALGARY, AB , Nov. 26, 2024 /CNW/ - Logan Energy Corp. LGN (" Logan " or the " Company ") is pleased to announce that it has entered into a definitive agreement today to acquire an operated 50% working interest in certain assets located in the Company's core area at Simonette, Alberta , for a cash purchase price of $52.0 million , before closing adjustments (the " Acquisition "). Logan is also pleased to announce an equity financing to be offered on a bought deal, private placement basis, led by National Bank Financial Inc. and Eight Capital as joint bookrunners and co-lead underwriters, for aggregate gross proceeds of $35.0 million (the " Equity Offering "). ACQUISITION HIGHLIGHTS Logan has entered into an asset purchase agreement with a subsidiary of Gran Tierra Energy Inc., a publicly-traded oil and gas company (the " Vendor "), pursuant to which the Company will acquire an operated 50% working interest in certain assets in the Simonette area, primarily targeting the Montney , and 100% of the Vendor's interest in certain Simonette gross overriding royalties (the " GORRs ") (collectively, the " Acquired Interest ") for cash consideration of $52.0 million , before closing adjustments. The Acquisition has an effective date of September 1, 2024 , and is expected to close on or around December 17, 2024 , subject to the satisfaction or waiver of customary closing conditions. The Acquisition includes current production of approximately 795 BOE/d (48% liquids), 25 net (52.5 gross) sections of highly prospective Montney acreage including 45 net identified Montney drilling locations, 16 gross 5-10% GORR sections, and interests in important infrastructure including a 50% working interest in a 9 million barrel water reservoir and an oil battery at 06-09-061-27W5. The Acquisition augments Logan's long term organic growth plan and is consistent with its stated strategy. Pro forma the Acquisition, Logan plans to achieve production growth to between 24,000 to 27,000 BOE per day by 2028, up from its previously stated target of 20,000 to 25,000 BOE per day by 2028. The high-quality oil weighted inventory being acquired is accretive to Logan's inventory and drives compelling full cycle returns on the Acquisition. VALUE PROPOSITION AND ACCRETION 2025 accretion of 11% to AFF per share (moderated by cycle time to add production) 2026-2029 accretion of 13-18% to AFF per share relative to Logan on a standalone basis Top tier Montney oil drilling locations add to Logan's inventory depth and provide torque to strong crude oil prices; South Simonette Lower Montney TPP forecast type curve of 520 mbbl of oil expected to deliver a NPV of approximately $14 million discounted at 10% before-tax 1 Removes 5-10% GORRs from 38 of Logan's net Montney locations, improving project economics Two-layer co-development of Lower and Middle Montney improves capital efficiencies and reduces proportionate infrastructure spending The strong synergies with Logan's existing owned gathering and processing will result in operating cost savings of over $7.5 million in the first five years of development on the acquired assets Eliminates approximately $13.0 million in near-term infrastructure capital from Logan's current five-year plan Expected to improve Logan's realized pricing due to the increase in liquids weighting, while maintaining Logan's long term cost structure (operating expenses are forecast to be less than $8.00 /BOE by 2027) __________________________________ 1 Based on the Vendor's 2023 Reserve Evaluation (defined herein) and the 3 consultant average price forecast at December 31, 2023. ACQUISITION METRICS Purchase Price (1) $52.0MM Q3 2024 Production (2) 795 BOE/d (48% liquids) 2025 Production (Forecast) (3) 1,440 BOE/d (55% liquids) 2025 Operating Netback (Forecast) (4) $34.51 / BOE 2025 Operating Income (Forecast) (4) $18.1MM Montney Drilling Locations – booked (5) 45 gross (22.5 net) Montney Drilling Locations – unbooked (5) 54 gross (22.5 net) Proved Developed Producing Reserves (6)(7) 933 mBOE Reserve Life Index (8) ~ 3.2 years Total Proved Plus Probable Reserves (6)(9)(10) 13,958 mBOE Reserve Life Index (8) ~ 48.1 years NPV of Reserves (before-tax at 10%) PDP $6.6MM / TPP $154.7MM Decommissioning Obligations (Undiscounted) (11) ~ $6.0MM Notes: Refer to "Reader Advisories". EQUITY OFFERING Logan has entered into an agreement with a syndicate of underwriters (the " Underwriters ") led by National Bank Financial Inc. and Eight Capital as joint bookrunners and co-lead underwriters (the " Lead Underwriters "), pursuant to which the Underwriters have agreed to purchase for resale on a private placement, bought deal basis, 47,946,000 common shares (" Common Shares ") at a price of $0.73 per Common Share for aggregate gross proceeds of approximately $35.0 million . It is anticipated that certain directors, officers and employees of the Company will subscribe for approximately $2.8 million of the Equity Offering. Closing of the Equity Offering will be conditional on the completion of the Acquisition. Logan intends to use the net proceeds from the Equity Offering to repay indebtedness incurred to fund a portion of the purchase price for the Acquisition. The completion of the Equity Offering is subject to customary closing conditions, including the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (" TSXV "). Closing of the Equity Offering is expected to occur immediately following the Acquisition, on or around December 17, 2024 . The Company has agreed to pay a cash commission of 4.0% of the gross proceeds of the Equity Offering to the Underwriters, except with respect to subscribers to be included on the president's list for which no commission will be paid. The Common Shares will be subject to a statutory hold period that extends four months from the Closing Date; provided that any Common Shares issued in the United States will be subject to a 1 year hold period, subject to the ability to resell the Common Shares on the TSXV prior to 1 year in accordance with U.S. securities laws. ADVISORS National Bank Financial Inc. and Eight Capital are acting as financial advisors to Logan in respect of the Acquisition and the Equity Offering. Stikeman Elliott LLP is acting as legal counsel to Logan in respect of the Acquisition and the Equity Offering. Burnet, Duckworth & Palmer LLP is acting as legal counsel to the underwriters in respect of the Equity Offering. PRO FORMA 2024 GUIDANCE Logan has updated its guidance for 2024 to reflect the Acquisition and Equity Offering, including an expanded budget for Capital Expenditures before A&D of $157 million (previously $140 million ). Additionally, the Company has reduced its average production guidance for 2024 by 3% to approximately 8,400 BOE/d (previously 8,700 BOE/d) due to voluntary shut-ins of uneconomic natural gas production, deferral of certain production optimization projects until gas prices recover, and delayed onstream and intermittent run time from the Company's exploratory well at Lator. Despite lower production and weaker natural gas prices for the second half of 2024 than previously forecast, Logan's guidance for 2024 Adjusted Funds Flow of approximately $52 million is unchanged from previous guidance due to lower cash costs. Assuming a closing date of December 17, 2024 , the Acquisition will have a minimal contribution to 2024 average production and Adjusted Funds Flow. The increase in the capital expenditure budget primarily includes acceleration of projects originally planned for the first quarter of 2025 into the fourth quarter 2024, including one drill and two completions at Simonette and commencing construction for the Pouce Coupe Infrastructure ahead of schedule, to level load activity in preparation for a further expanded 2025 development program pro forma the Acquisition. Additionally, the expanded 2024 budget includes pad construction and drilling of the first joint well in the Lower Montney on the acquired assets. For the year ending December 31, 2024 Previous Guidance Updated Guidance Change % Average production (BOE/d) (1) 8,700 8,400 (300) (3) % Liquids 34 % 34 % 0 % - Forecast Average Commodity Prices WTI crude oil price (US$/bbl) 75.67 75.67 - - AECO natural gas price ($/GJ) 1.48 1.37 (0.11) (7) Average exchange rate (CA$/US$) 1.36 1.36 - - Operating Netback, after hedging ($/BOE) (1)(2) 18.40 19.04 0.64 3 Adjusted Funds Flow ($MM) (1)(2) 52 52 - - AFF per share, basic (2)(4) 0.11 0.11 - - Capital Expenditures before A&D ($MM) (2) 140 157 17 12 Acquisitions (3) - 63 63 nm Net Debt (Surplus), end of year ($MM) (2) (1) 47 48 nm Common shares outstanding, end of year (MM) (4) 534 582 48 9 (1) Additional information regarding the assumptions used in the forecasts of average production, Operating Netback and Adjusted Funds Flow are provided under "Reader Advisories" below. (2) "Operating Netback, after hedging", "Adjusted Funds Flow", "AFF per share", "Capital Expenditures before A&D" and "Net Debt (Surplus)" do not have standardized meanings under IFRS Accounting Standards, see "Non-GAAP Measures and Ratios" section of this press release. (3) Includes the $52.0 million purchase price for the Acquisition plus $8.1 million of estimated closing adjustments plus an assumed liability of $2.7 million estimated to carry the Vendor's share of the first Simonette drill. (4) The forecast of basic Common Shares outstanding assumes closing of the Equity Offering for aggregate gross proceeds of $35.0 million. AFF per share is based on the estimated basic weighted average common shares outstanding during the year. Refer to additional information regarding outstanding dilutive securities under the heading of "Share Capital" in this press release. PRO FORMA 2025 BUDGET Logan is pleased to provide details of its pro forma budget for 2025, which is focused on delivering material liquids growth through accelerated development at Pouce Coupe together with an expanded program at Simonette pro forma the Acquisition. Additionally, the Company will continue to advance its positions in the Alberta Duvernay and at Flatrock, British Columbia , invest heavily in infrastructure and reserve capital for additional land capture opportunities. The pro forma capital expenditure budget of $195 million includes approximately $35 million directed to the acquired assets. The 2025 capital expenditure budget remains elevated relative to other years within Logan's five year plan due to the one-time Pouce Coupe infrastructure costs (details of the Pouce Coupe infrastructure project are provided in the Company's press release dated September 12, 2024 ). In addition to constructing and commissioning the Pouce Coupe infrastructure, the Company plans to bring on production nine net wells at Pouce Coupe , five net wells at Simonette, and one well at Ante Creek driving 2025 average production of approximately 13,650 BOE per day (additional information regarding all drilling activity is provided under the heading "Reader Advisories – Assumptions for Guidance – Planned Activity"). The pro forma 2025 budget delivers (from 2024E to 2025E): 63% average production growth (62% per share); 91% oil and condensate growth; 20% decrease in average per unit operating and transportation costs; 131% Adjusted Funds Flow growth; and 91% Adjusted Funds Flow per share growth after giving effect to the Equity Offering. The Company's pro forma guidance for 2025 after giving effect to the Acquisition and Equity Financing is summarized as follows: For the year ending December 31, 2025 2025 Preliminary Budget 2025 Pro Forma Budget Change % 2025 average production (BOE/d) (1) 12,800 13,650 850 7 % Liquids 37 % 40 % 3 % 8 H2 2025 average production (BOE/d) (1) 14,500 15,750 1,250 9 % Liquids 38 % 42 % 4 % 11 Forecast Average Commodity Prices (2)(4) WTI crude oil price (US$/bbl) 70.00 70.00 - - AECO natural gas price ($/GJ) 2.50 2.50 - - Average exchange rate (CA$/US$) 1.35 1.35 - - Operating Netback, after hedging ($/BOE) (1)(3)(4) 25.92 27.80 1.88 7 Adjusted Funds Flow ($MM) (1)(3) 103 120 17 17 AFF per share, basic (3) 0.19 0.21 0.02 11 Capital Expenditures before A&D ($MM) (3) 170 195 25 15 Net Debt, end of year ($MM) (3) 66 122 56 85 Common shares outstanding, end of year (MM) (5) 534 582 48 9 (1) Additional information regarding the assumptions used in the forecasts of average production, Operating Netback and Adjusted Funds Flow are provided under "Reader Advisories" below. (2) Forecast natural gas prices have decreased since announcing the Company's preliminary 2025 budget in September 2024. For purposes of comparing pro forma guidance with the Acquisition to Logan's stand alone plan, we have held commodity price assumptions constant. Refer to commodity price sensitivities under the heading of "Reader Advisories". (3) "Operating Netback, after hedging", "Adjusted Funds Flow", "AFF per share", "Capital Expenditures before A&D" and "Net Debt" do not have standardized meanings under IFRS Accounting Standards, see "Non-GAAP Measures and Ratios" section of this press release. (4) A summary of outstanding commodity price risk management contracts is provided under the heading "Reader Advisories - Assumptions for Guidance – Commodity Hedging". (5) The forecast of basic Common Shares outstanding assumes closing of the Equity Offering. AFF per share is based on the estimated basic weighted average common shares outstanding during the year. Refer to additional information regarding outstanding dilutive securities under the heading of "Share Capital" in this press release. ABOUT LOGAN ENERGY CORP. Logan is a growth-oriented exploration, development and production company formed through the spin-out of the early stage Montney assets of Spartan Delta Corp. Logan was founded with a strong initial capitalization and three high quality and opportunity rich Montney assets located in the Simonette and Pouce Coupe areas of northwest Alberta and the Flatrock area of northeastern British Columbia and has recently established a position within the greater Kaybob Duvernay oil play with assets in the North Simonette, Ante Creek and Two Creeks areas. The management team brings proven leadership and a track record of generating excess returns in various business cycles. READER ADVISORIES Notes to Acquisition Metrics table : 1) The purchase price to be paid by Logan in respect of the Acquisition is $52.0 million in cash, before closing adjustments. The Company expects purchase price adjustments, which include estimated cash flows, capital expenditures, and interest between the effective date of September 1, 2024 and closing to be approximately $8.1 million in favour of the Vendor due to recent drilling activity. Additionally, Logan has agreed to carry the Vendor's share of the first Simonette drill at an estimated cost of $2.7 million. Total consideration inclusive of closing adjustments and the drill carry is estimated to be approximately $62.8 million. 2) Average production for the third quarter of 2024 from the Acquired Interest was approximately 795 BOE/d, consisting of 325 bbl/d of oil (41%), 60 bbl/d of NGLs (7%), and 2,460 mcf/d of natural gas (52%). 3) Average production forecast for 2025 is approximately 1,440 BOE/d, consisting of 725 bbl/d of oil (50%), 65 bbl/d of NGLs (5%), and 3.9 mmcf/d of natural gas (45%). 4) 2025 Operating Netback and Operating Income forecast based on commodity price assumptions of US$70/bbl WTI and $2.50/GJ AECO. Operating Income and Operating Netback are non-GAAP measures. See " Non-GAAP Measures and Ratios " for additional details. 5) Of the 99 gross (45 net) identified Montney locations, there are 45 gross (22.5 net) booked locations in the Vendor's 2023 Reserve Evaluation (defined below) with an additional 54 gross (22.5 net) of unbooked locations identified by Logan. See " Drilling Locations " for additional details. 6) Proved developed producing reserves (" PDP ") and total proved plus probable reserves (" TPP ") are based on the Vendor's 2023 Reserve Evaluation. Reserves volumes and values are based on working interest reserves of the Acquired Interest before deduction of royalties and without including any of royalty interest reserves. See " Reserves Disclosure " for additional details. 7) PDP consisting of 322 MMbbl of crude oil (34%), 102 MMbbl of NGLs (11%), and 3,057 MMcf of natural gas (55%). 8) Reserve life index (" RLI ") is calculated by dividing PDP or TPP, as applicable, by estimated current production of the Acquired Interest of 795 BOE/d. See note (2) for a breakdown of estimated current production from the Acquired Interest by product type and note (6) for further information regarding reserves estimates. 9) TPP consisting of 8,926 MMbbl of oil (64%), 806 MMbbl of NGLs (6%), and 25,354 MMcf of natural gas (30%). 10) Future development capital of $568.2 million gross ($284.1 million net) are attributable to the Acquired Interest and represents expectations for the remainder of the booked reserves life of 5 years (2024-2028), per the TPP case in the Vendor's 2023 Reserve Evaluation. 11) Decommissioning obligations for the Acquired Interest of approximately $6.0 million (undiscounted and uninflated) are internally estimated by Logan based on AER Directive 11 updates effective June 26, 2024 as well as internal estimate of reclamation costs and site specific information. Non-GAAP Measures and Ratios This press release contains certain financial measures and ratios which do not have standardized meanings prescribed by International Financial Reporting Standards as issued by the International Accounting Standards Board (" IFRS Accounting Standards "), also known as Canadian Generally Accepted Accounting Principles (" GAAP "). As these non-GAAP financial measures and ratios are commonly used in the oil and gas industry, Logan believes that their inclusion is useful to investors. The reader is cautioned that these amounts may not be directly comparable to measures for other companies where similar terminology is used. The non-GAAP measures and ratios used in this press release, represented by the capitalized and defined terms outlined below, are used by Logan as key measures of financial performance and are not intended to represent operating profits nor should they be viewed as an alternative to cash provided by operating activities, net income or other measures of financial performance calculated in accordance with IFRS Accounting Standards. The definitions below should be read in conjunction with the "Non-GAAP and Other Financial Measures" section of the Company's MD&A dated November 13, 2024 , which includes discussion of the purpose and composition of the specified financial measures and detailed reconciliations to the most directly comparable GAAP financial measures. Operating Income and Operating Netback Operating Income, a non-GAAP financial measure, is a useful supplemental measure that provides an indication of the Company's ability to generate cash from field operations, prior to administrative overhead, financing and other business expenses. " Operating Income, before hedging " is calculated by Logan as oil and gas sales, net of royalties, plus processing and other revenue, less operating and transportation expenses. " Operating Income, after hedging " is calculated by adjusting Operating Income, before hedging for realized gains or losses on derivative financial instruments. The Company refers to Operating Income expressed per unit of production as an " Operating Netback " and reports the Operating Netback before and after hedging, both of which are non-GAAP financial ratios. Logan considers Operating Netback an important measure to evaluate its operational performance as it demonstrates its field level profitability relative to current commodity prices. Adjusted Funds Flow Cash provided by operating activities is the most directly comparable measure to Adjusted Funds Flow. " Adjusted Funds Flow " is reconciled to cash provided by operating activities by excluding changes in non-cash working capital, adding back transaction costs on acquisitions (if applicable). Logan utilizes Adjusted Funds Flow as a key performance measure in the Company's annual financial forecasts and public guidance. The Company refers to Adjusted Funds Flow expressed per unit of production as an " Adjusted Funds Flow Netback ". Adjusted Funds Flow per share (" AFF per share ") AFF per share is a non-GAAP financial ratio used by the Logan as a key performance indicator. The basic and/or diluted weighted average Common Shares outstanding used in the calculation of AFF per share is calculated using the same methodology as net income per share. Capital Expenditures Logan uses " Capital Expenditures before A&D " to measure its capital investment level compared to the Company's annual budgeted capital expenditures for its organic drilling program, excluding acquisitions or dispositions. " Capital Expenditures " is calculated by adding cash acquisition costs, net of proceeds from dispositions to Capital Expenditures before A&D. The directly comparable GAAP measure is cash used in investing activities, before changes in non-cash investing working capital. Net Debt (Surplus) Throughout this press release, references to " Net Debt (Surplus) " includes any long-term debt outstanding on the Company's revolving and term credit facilities, net of Adjusted Working Capital. Net Debt and Adjusted Working Capital are both non-GAAP financial measures. "Adjusted Working Capital" is calculated as current liabilities less current assets, excluding derivative financial instrument assets and liabilities. Supplementary Financial Measures The supplementary financial measures used in this press release (primarily average sales price per product type and certain per BOE and per share figures) are either a per unit disclosure of a corresponding GAAP measure, or a component of a corresponding GAAP measure, presented in the financial statements. Supplementary financial measures that are disclosed on a per unit basis are calculated by dividing the aggregate GAAP measure (or component thereof) by the applicable unit for the period. Supplementary financial measures that are disclosed on a component basis of a corresponding GAAP measure are a granular representation of a financial statement line item and are determined in accordance with GAAP. Assumptions for Guidance Logan expects production to average approximately 8,400 BOE/d during 2024 and 13,650 BOE/d in 2025. The significant assumptions used in the forecast of Operating Netbacks and Adjusted Funds Flow for the Company's 2024 and 2025 Guidance are summarized below. Production Guidance 2024 Previous Guidance 2024 Pro Forma Guidance Change % 2025 Preliminary Budget 2025 Pro Forma Budget Change % Crude Oil (bbls/d) 2,025 2,345 16 3,045 4,780 57 Condensate (bbls/d) 600 175 (71) 1,190 25 (98) Crude oil and condensate (bbls/d) 2,625 2,520 (4) 4,235 4,805 13 NGLs (bbls/d) 310 365 18 465 615 32 Natural gas (mcf/d) 34,590 33,090 (4) 48,600 49,380 2 Combined average (BOE/d) 8,700 8,400 (3) 12,800 13,650 7 % Liquids 34 % 34 % - 37 % 40 % 8 Financial Guidance ($/BOE) Oil and gas sales 36.17 35.89 (1) 40.42 42.46 5 Processing and other revenue 0.93 1.05 13 0.55 0.57 4 Royalties (3.41) (3.22) (6) (3.30) (3.32) 1 Transportation expenses (3.26) (3.06) (6) (2.50) (2.70) 8 Operating expenses (12.62) (12.23) (3) (9.54) (9.50) (0) Operating Netback, before hedging 17.81 18.43 3 25.63 27.51 7 Realized gain (loss) on derivatives 0.59 0.61 3 0.29 0.29 - Operating Netback, after hedging 18.40 19.04 3 25.92 27.80 7 General and administrative expenses (1.95) (1.96) 1 (1.54) (1.65) 7 Financing expenses (0.04) (0.00) (100) (1.36) (1.76) 29 Current income taxes - - - (0.57) - (100) Decommissioning obligations (0.20) (0.24) 20 (0.38) (0.36) (5) Adjusted Funds Flow 16.21 16.84 4 22.07 24.03 9 Planned Activity Area Net (Gross) Wells Drilled Net (Gross) Wells Completed Net (Gross) Wells Onstream 2024 Simonette 5.5 (6) 6 4 Pouce Coupe 3 3 3 Flatrock - - - Ante Creek 1 - - 2025 Simonette 5 (8) 5 (7) 5 (6) Pouce Coupe 9 9 9 Flatrock 2 - - Ante Creek - 1 1 Note: Net and gross well counts are the same if not otherwise noted. Guidance Sensitivities Changes in forecast commodity prices, exchange rates, differences in the amount and timing of capital expenditures, and variances in average production estimates can have a significant impact on the key performance measures included in Logan's pro forma guidance for 2025. The Company's actual results may differ materially from these estimates. Holding all other assumptions constant, the table below shows the impact to forecasted Adjusted Funds Flow of a US$10 /bbl change in the WTI crude oil price, a $0.50 /GJ change in the AECO natural gas price, and a $0.05 change in the CA$/US$ exchange rate. Assuming capital expenditures are unchanged, an increase (decrease) in Adjusted Funds Flow will result in an equivalent decrease (increase) in forecasted Net Debt. Year Ending December 31, 2025 – Change in Adjusted Funds Flow ($MM) AECO / WTI US$60.00/bbl US$70.00/bbl US$80.00/bbl CA$/US$ FX Impact $2.00/GJ ($24) ($8) $6 1.30 ($5) $2.50/GJ ($16) - $14 1.35 - $3.00/GJ ($7) $9 $20 1.40 $5 Commodity Hedging The following table summarizes the Company's financial risk management contracts in place as of the date hereof: Commodity / Contract Type Notional Volume Reference Price Fixed Contract Price Remaining Term Crude oil – swap 1,500 bbls/d WTI CA$101.33 per barrel November 1 to December 31, 2024 Crude oil – swap 100 bbls/d WTI US$74.35 per barrel November 1 to December 31, 2024 Crude oil – swap 750 bbls/d WTI US$71.60 per barrel January 1 to March 31, 2025 Crude oil – swap 1,250 bbls/d WTI US$70.84 per barrel April 1 to June 30, 2025 Crude oil – swap 1,000 bbls/d WTI US$70.46 per barrel July 1 to September 30, 2025 Crude oil – swap 500 bbls/d WTI US$70.00 per barrel October 1 to December 31, 2025 Crude oil – swap 500 bbls/d WTI CA$102.05 per barrel January 1 to December 31, 2025 Crude oil – short call 500 bbls/d WTI CA$102.05 per barrel January 1 to December 31, 2025 Natural gas – swap 20,000 GJ/d AECO CA$1.86 per GJ November 1 to 30, 2024 Natural gas – swap 5,000 GJ/d AECO CA$2.50 per GJ January 1 to March 31, 2025 Natural gas – swap 15,000 GJ/d AECO CA$2.23 per GJ April 1 to October 31, 2025 Natural gas – swap 15,000 GJ/d AECO CA$3.15 per GJ Nov 1, 2025 to March 31, 2026 As of the date hereof, Logan has an average of 1,375 bbls/d of oil hedged at an average WTI price of $99.26 per barrel (Canadian dollar equivalent based on FX of 1.38) for calendar 2025, representing approximately 31% of forecasted crude oil and condensate production (net of royalties) pro forma completion of the Acquisition. Additionally, the Company has AECO swaps in place for an average of 12,534 GJ/d of natural gas at $2.44 per GJ on average for calendar 2025, representing approximately 23% of forecasted natural gas production (net of royalties) pro forma completion of the Acquisition. Reserves Disclosure All reserves values, future net revenue and ancillary information in this press release relating to the Acquired Interest is based on the evaluation prepared by GLJ Petroleum Consultants for i3 Energy plc, the previous owner of the Acquired Interest, effective December 31, 2023 with a preparation date of March 8, 2024 (the " Vendor's 2023 Reserve Report ") and mechanically updated by the Company's internal qualified reserves evaluator to reflect the working interest in the assets to be acquired by Logan pursuant to the Acquisition, all in accordance with National Instrument 51-101 – Standards of Disclosure of Oil and Gas Activities (" NI 51-101 ") and the most recent publication of the Canadian Oil and Gas Evaluations Handbook (" COGEH "). The estimates of reserves and future net revenue for the Acquisition may not reflect the same confidence level as estimates of reserves and future net revenue for all of Logan's properties, due to the effects of aggregation. All reserve references in this press release are "gross reserves". Gross reserves are a company's total working interest reserves before the deduction of any royalties payable by such company and before the consideration of such company's royalty interests. It should not be assumed that the present worth of estimated future cash flow of net revenue presented herein represents the fair market value of the reserves. There is no assurance that the forecast prices and costs assumptions will be attained and variances could be material. The recovery and reserve estimates of Logan's crude oil, NGL and natural gas reserves, including those of the Acquired Interest, provided herein are estimates only and there is no guarantee that the estimated reserves will be recovered. Actual crude oil, natural gas and NGL reserves may be greater than or less than the estimates provided herein. 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. Proved developed producing reserves are those 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. Undeveloped reserves are those reserves expected to be recovered from known accumulations where a significant expenditure (e.g., when compared to the cost of drilling a well) is required to render them capable of production. They must fully meet the requirements of the reserves category (proved, probable, possible) to which they are assigned. 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, 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. Drilling Locations This press release discloses drilling locations with respect to the Acquired Interest in two categories: (i) booked; (ii) unbooked locations. Booked locations identified in this press release have associated proved and/or probable locations, as applicable, and proved and probable locations were derived from the Vendor's 2023 Reserve Report in accordance with NI 51-101 and COGEH. Unbooked locations are internal estimates based on the Company's assumptions as to the number of wells that can be drilled per section based on industry practice and internal review, being 600m inter well spacing and an average horizontal well length of ~3,000m. Unbooked locations do not have attributed reserves or resources. Unbooked locations have been identified by management as an estimation of Logan's multi-year drilling activities based on evaluation of applicable geologic, seismic, engineering, production and reserves information. There is no certainty that the Company will drill all unbooked drilling locations and if drilled there is no certainty that such locations will result in additional oil and gas reserves, resources or production. The drilling locations on which the Company actually drills wells will ultimately depend upon the availability of capital, regulatory approvals, seasonal restrictions, oil and natural gas prices, costs, actual drilling results, additional reservoir information that is obtained and other factors. While certain of the unbooked drilling locations have been de-risked by drilling existing wells in relative close proximity to such unbooked drilling locations, the majority of other unbooked drilling locations are farther away from existing wells where management has less information about the characteristics of the reservoir and therefore there is more uncertainty whether wells will be drilled in such locations and if drilled there is more uncertainty that such wells will result in additional oil and gas reserves, resources or production. Other Measurements All dollar figures included herein are presented in Canadian dollars, unless otherwise noted. This press release contains various references to the abbreviation "BOE" which means barrels of oil equivalent. Where amounts are expressed on a BOE basis, natural gas volumes have been converted to oil equivalence at six thousand cubic feet (mcf) per barrel (bbl). The term BOE may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet per barrel is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead and is significantly different than the value ratio based on the current price of crude oil and natural gas. This conversion factor is an industry accepted norm and is not based on either energy content or current prices. Such abbreviation may be misleading, particularly if used in isolation. References to "oil" in this press release include light crude oil, medium crude oil, heavy oil and tight oil combined. NI 51-101 includes condensate within the product type of "natural gas liquids". References to "natural gas liquids" or "NGLs" include pentane, butane, propane and ethane. References to "gas" or "natural gas" relates to conventional natural gas. References to "liquids" includes crude oil, condensate and NGLs. Share Capital Common shares of Logan trade on the TSXV under the symbol "LGN". As of the date hereof, there are 534.0 million Common Shares outstanding. Pro forma completion of the Equity Offering, there will be 582.0 million Common Shares outstanding. There are no preferred shares or special shares outstanding. Logan's convertible securities outstanding as of the date of this press release include: 64.3 million Common Share purchase warrants with an exercise price of $0 .35 per share expiring July 12, 2028 ; and 22.6 million stock options with an exercise price of $0.89 per share expiring November 22, 2028 . Forward-Looking and Cautionary Statements Certain statements contained within this press release constitute forward-looking statements within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "budget", "plan", "endeavor", "continue", "estimate", "evaluate", "expect", "forecast", "monitor", "may", "will", "can", "able", "potential", "target", "intend", "consider", "focus", "identify", "use", "utilize", "manage", "maintain", "remain", "result", "cultivate", "could", "should", "believe" and similar expressions. Logan believes that the expectations reflected in such forward-looking statements are reasonable as of the date hereof, but no assurance can be given that such expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Without limitation, this press release contains forward-looking statements pertaining to: the completion of the Equity Offering and the Acquisition and the terms and timing thereof (including the use of proceeds from the Equity Offering); satisfaction or waiver of the closing conditions to the Equity Offering and the Acquisition; receipt of required regulatory and stock exchange approvals for the completion of the Equity Offering; insider participation in the Equity Offering; anticipated benefits of the Acquisition, including the impact of the Acquisition and the Acquired Interest on the Company's operations, reserves, inventory and opportunities, financial condition, realized pricing, access to capital and overall strategy; Logan's revised 2024 and 2025 guidance and capital budgets, including drilling programs and infrastructure development and the timing and anticipated results thereof; anticipated revenue, capital and operating cost synergies resulting from the Acquisition; the Company's opportunity rich assets; management's track record of generating excess returns in various business cycles; success of the Company's drilling program based on initial results; future drilling plans; EUR; risk management activities, including hedging; continuing to advance key infrastructure projects; forecast production for the remainder of 2024 and 2025; and the expectation that per unit operating expenses will decrease with production growth. The forward-looking statements and information are based on certain key expectations and assumptions made in respect of Logan including expectations and assumptions concerning: the receipt of all approvals and satisfaction of all conditions to the completion of the Equity Offering and the Acquisition; the business plan of Logan; the timing of and success of future drilling; development and completion activities and infrastructure projects; the performance of existing wells; the performance of new wells; the availability and performance of facilities and pipelines; the geological characteristics of Logan's properties; the successful integration of the recently acquired assets into Logan's operations; the successful application of drilling, completion and seismic technology; prevailing weather conditions; prevailing legislation affecting the oil and gas industry; prevailing commodity prices, price volatility, price differentials and the actual prices received for Logan's products; impact of inflation on costs; royalty regimes and exchange rates; the application of regulatory and licensing requirements; the availability of capital (including under the Equity Offering and the Company's credit facilities), labour and services; the creditworthiness of industry partners; and the ability to source and complete acquisitions. Although Logan believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Logan can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties include, but are not limited to: counterparty risk to closing the Equity Offering and the Acquisition; fluctuations in commodity prices; changes in industry regulations and political landscape both domestically and abroad; wars, hostilities, civil insurrections; changes in legislation, including but not limited to tax laws, royalties and environmental regulations (including greenhouse gas emission reduction requirements and other decarbonization or social policies and including uncertainty with respect to the interpretation of omnibus Bill C-59 and the related amendments to the Competition Act ( Canada )); foreign exchange or interest rates; increased operating and capital costs due to inflationary pressures (actual and anticipated); volatility in the stock market and financial system; impacts of pandemics; the retention of key management and employees; and risks with respect to unplanned pipeline outages and risks relating to inclement and severe weather events and natural disasters, such as fire, drought, flooding and extreme hot or cold temperatures, including in respect of safety, asset integrity and shutting-in production. Ongoing military actions in the Middle East and between Russia and Ukraine and related sanctions have the potential to threaten the supply of oil and gas from those regions. The long-term impacts of these actions remains uncertain. The foregoing list is not exhaustive. Please refer to the MD&A and AIF for discussion of additional risk factors relating to Logan, which can be accessed on its SEDAR+ profile at www.sedarplus.ca . Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. Logan undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. This press release contains future-oriented financial information and financial outlook information (collectively, " FOFI ") about Logan's five year growth plan, Logan's revised pro forma budget and guidance for 2024 and 2025, including with respect to prospective results of operations, production (including average production of 8,400 BOE/d during 2024, 13,650 BOE/d in 2025 and growing to between 24,000 and 27,000 BOE/d by 2028) and operating costs (including reducing its operating expenses to below $8.00 per BOE by 2027), including pro forma the completion of the Equity Offering and the Acquisition, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraphs. FOFI contained in this document was approved by management as of the date of this document and was provided for the purpose of providing further information about Logan's proposed business activities in the remainder of 2024 and 2025. Logan and its management believe that FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments, and represent, to the best of management's knowledge and opinion, the Company's expected course of action. However, because this information is highly subjective, it should not be relied on as necessarily indicative of future results. Logan disclaims any intention or obligation to update or revise any FOFI contained in this document, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned that the FOFI contained in this document should not be used for purposes other than for which it is disclosed herein. Changes in forecast commodity prices, exchange rates, differences in the timing of capital expenditures, and variances in average production estimates can have a significant impact on the key performance measures included in Logan's guidance. The Company's actual results may differ materially from these estimates. This press release is not an offer of the securities for sale in the United States . The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act")) or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful. Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Abbreviations 2024E Forecast for the year ending December 31, 2024 2025E Forecast for the year ending December 31, 2025 A&D acquisitions and dispositions AECO Alberta Energy Company "C" Meter Station of the NOVA Pipeline System AIF refers to the Company's Annual Information Form dated March 18, 2024 bbl barrel bbls/d barrels per day bcf one billion cubic feet BOE barrels of oil equivalent BOE/d barrels of oil equivalent per day CA$ or CAD Canadian dollar DCET drilling, completion, equipping and tie-in capital expenditures DUC drilled, uncompleted well EUR estimated ultimate recovery GJ gigajoule H2 second half of the year or six month period ending December 31 Mbbl one thousand barrels MBOE one thousand barrels of oil equivalent mcf one thousand cubic feet mcf/d one thousand cubic feet per day MD&A refers to Management's Discussion and Analysis of the Company dated November 13, 2024 MMbtu one million British thermal units mmcf one million cubic feet mmcf/d one million cubic feet per day MM millions $MM millions of dollars MPa megapascal unit of pressure NGL(s) natural gas liquids NPV net present value NI 51-101 National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities nm "not meaningful", generally with reference to a percentage change NYMEX New York Mercantile Exchange, with reference to the U.S. dollar "Henry Hub" natural gas price index PDP proved developed producing reserves TP total proved reserves TPP total proved plus probable reserves TSXV TSX Venture Exchange US$ or USD United States dollar WTI West Texas Intermediate, the reference price paid in U.S. dollars at Cushing, Oklahoma for crude oil of standard grade SOURCE Logan Energy Corp. View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2024/26/c3742.html © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.TEL AVIV, Israel (AP) — Israeli soldiers raided a hospital in isolated northern Gaza after forcing all the patients and most of the doctors to leave, the Palestinian Health Ministry said Tuesday. The Israeli military confirmed its troops had entered the Indonesian Hospital in the town of Jabaliya as part of an operation searching for Hamas fighters. Winter is hitting the Gaza Strip and many of the nearly 2 million Palestinians displaced by the devastating 15-month war with Israel are struggling to protect themselves from the wind, cold and rain. In the occupied West Bank, the Palestinian city of Bethlehem was marking a somber Christmas Eve under the shadow of war in Gaza, with most festivities cancelled and crowds of tourists absent. Israel's bombardment and ground invasion in Gaza has killed over 45,000 Palestinians, more than half of them women and children, according to Gaza’s Health Ministry, which does not distinguish between fighters and civilians in its count. The war was sparked by Hamas’s attack on southern Israel in October 2023, during which about 1,200 people were killed and 250 taken hostage by Palestinian militants. Around 100 hostages are still being held in Gaza, although only two thirds are believed to still be alive. Here’s the latest: Israeli ceasefire negotiators are returning from Qatar after ‘a significant week,’ prime minister’s office says JERUSALEM — The Israeli negotiating team working on a ceasefire returned from Qatar to Israel on Tuesday, the prime minister’s office said, after what it called “a significant week” of talks. After months of deadlock, the U.S., Qatar and Egypt resumed their mediation efforts in recent weeks and reported greater willingness by the warring sides to reach a deal. According to Egyptian and Hamas officials, the proposed agreement would take place in phases and include a halt in fighting, an exchange of captive Israeli hostages for Palestinian prisoners, and a surge in aid to the besieged Gaza Strip. Israel says Hamas is holding 100 hostages, over one-third of whom are believed to be dead. On Monday, Prime Minister Benjamin Netanyahu said there was “some progress” in efforts to reach a deal, but added he did not know how long it would take. Israeli soldiers force patients to evacuate a hospital in northern Gaza, some on foot, Palestinian health officials say CAIRO — Israeli soldiers took control of a hospital in isolated northern Gaza after forcing all the patients and most of the doctors to leave, the Palestinian Health Ministry said Tuesday. Some of the patients had to walk to another hospital while others were driven by paramedics, according to Health Ministry spokesperson Zaher al-Wahidi. He did not specify how many patients had evacuated. The Israeli military confirmed its troops had entered the Indonesian Hospital in the town of Jabaliya as part of an operation searching for Hamas fighters. The army later said its soldiers had left the hospital. The military said it had assisted with evacuating the patients and had not ordered the hospital closed. However, al-Wahidi said only one doctor and maintenance person were left behind. The Indonesian Hospital is one of three hospitals left largely inaccessible in the northernmost part of Gaza because Israel has imposed a tight siege there since launching an offensive in early October. The Israeli army said Tuesday’s operation at the Indonesian Hospital came after militants carried out attacks from the hospital for the past month, including launching anti-tank missiles and planting explosive devices in the surrounding area. The Health Ministry accused Israel of “besieging and directly targeting” the three hospitals in northern Gaza. Hussam Abu Safiya, the director of Kamal Adwan Hospital, said Israeli drones detonated explosives near the hospital and that 20 people were wounded, including five medical staff. The Israeli military declined to comment on the operation around the hospital. Syrian Christians protest to demand greater protections after a Christmas tree is burned DAMASCUS — Scores of Syrian Christians protested in the capital Damascus on Tuesday, demanding greater protections for their religious minority after a Christmas tree was set on fire in the city of Hama a day earlier. Many of the insurgents who now rule Syria are jihadis, although Ahmad al-Sharaa, the leader of the main rebel group Hayat Tahrir al-Sham, has renounced longtime ties to al-Qaida and spent years depicting himself as a champion of pluralism and tolerance. It remains unclear who set the Christmas tree on fire Monday, which was condemned by a representative of Hayat Tahrir al-Sham who visited the town and addressed the community. “This act was committed by people who are not Syrian, and they will be punished beyond your expectations," the HTS representative said in a video widely shared on social media. "The Christmas tree will be fully restored by this evening.” On Tuesday, protesters marched through the streets of Bab Touma in Damascus, shouting slogans against foreign fighters and carrying large wooden crosses. “We demand that Syria be for all Syrians. We want a voice in the future of our country,” said Patriarch Ignatius Aphrem II of the Syriac Orthodox Church as he addressed the crowd in a church courtyard, assuring them of Christians’ rights in Syria. Since HTS led a swift offensive that overthrew President Bashar Assad earlier this month, Syria’s minority communities have been on edge, uncertain of how they will be treated under the emerging rebel-led government. “We are here to demand a democratic and free government for one people and one nation,” another protester said. “We stand united — Muslims and Christians. No to sectarianism.” Qatar says Gaza ceasefire negotiations are ongoing DOHA — Qatar’s Foreign Ministry said that ceasefire negotiations to end the war in Gaza were ongoing in Doha in cooperation with Egyptian, Qatari, and American mediators. “We will not leave any door unopened in pursuit of reaching an agreement,” said Majid al-Ansari, Qatar’s Foreign Ministry spokesperson on Tuesday. Al Ansari added that rumors the ceasefire would be reached before Christmas are “speculation.” The ceasefire negotiations come at a time when winter is hitting the Gaza Strip and many of the nearly 2 million Palestinians displaced by the devastating 15-month war with Israel are struggling to protect themselves from the wind, cold and rain. Families of the approximately 100 hostages who have been held for 445 days in Gaza are also worried their loved ones will not survive another winter. In a press conference, al-Ansari also called on the international community to lift sanctions on Syria as quickly as possible on Tuesday. “The reason was the crimes of the previous regime, and that regime, with all of its authority, is no longer in place, therefor the causes for these sanctions no longer exist today,” he said. US journalist missing in Syria since 2012 is believed to be alive, says aid group DAMASCUS, Syria — American journalist Austin Tice is believed to be still alive, according to the head of an international aid group. Nizar Zakka, who runs the Hostage Aid Worldwide organization, said there has never been any proof that Tice, who has been missing since 2012, is dead. Zakka told reporters in Damascus on Tuesday that Tice was alive in January and being held by the authorities of ousted Syrian President Bashar Assad. He added that U.S. President Joe Biden said in August that Tice was alive. Zakka said he believes Tice was transferred between security agencies over the past 12 years, including in an area where Iranian-backed fighters were operating. Asked if it was possible Tice had been taken out of the country, Zakka said Assad most likely kept him in Syria as a potential bargaining chip. Biden said Dec. 8 that his administration believed Tice was alive and was committed to bringing him home, although he also acknowledged that “we have no direct evidence” of his status. A former Israeli hostage dies TEL AVIV, Israel — Hannah Katzir, an Israeli woman who was taken hostage on Oct. 7, 2023, and freed in a brief ceasefire last year, has died. She was 78. The Hostages Families Forum, a group representing the families of people taken captive, confirmed the death Tuesday but did not disclose the cause. Her daughter, Carmit Palty Katzir, said in a statement that her mother’s “heart could not withstand the terrible suffering since Oct. 7.” Katzir’s husband, Rami, was killed during the attack by militants who raided their home in Kibbutz Nir Oz. Her son Elad was also kidnapped and his body was recovered in April by the Israeli military, who said he had been killed in captivity. She spent 49 days in captivity and was freed in late November 2023. Shortly after Katzir was freed, her daughter told Israeli media that she had been hospitalized with heart issues attributed to “difficult conditions and starvation” while she was held captive. Israeli air defense system intercepts projectile launched from Yemen TEL AVIV, Israel — Israel's military said the projectile was intercepted before crossing into Israeli territory, but it set off air raid sirens overnight in the country's populous central area, sending residents looking for cover. Israel’s rescue service Magen David Adom said a 60-year-old woman was seriously wounded after being hurt on her way to a protected space. There was no immediate comment from Yemen’s Iranian-backed Houthi rebels. It was the third time in a week that fire from Yemen set off sirens in Israel. On Saturday, a missile slammed into a playground in Tel Aviv, injuring 16, after Israel’s air defense system failed to intercept it. Earlier last week, Israeli jets struck Yemen’s rebel-held capital and a port city, killing nine. Israel said the strikes were in response to previous Houthi attacks.
‘Overdue’ Lebanon ceasefire must bring lasting solution to crisis, says PMLINCOLN — Coming off Saturday’s home finale win over Wisconsin, Nebraska football looks to end its regular season with a rivalry win at Iowa City against the Hawkeyes. Here is everything to know about Iowa for Friday’s battle for The Heroes Trophy. What : Nebraska at Iowa When: Nov. 29, 6:30 p.m. Where : Kinnick Stadium, Iowa City TV : NBC Series History : Nebraska holds an all-time record of 30-21-3 record against Iowa, but have lost eight of their past nine meetings. Last season, Nebraska lost, 13-10 to the Hawkeyes in Lincoln. Coaches : Nebraska — Matt Rhule is in his ninth season as a college football head coach and second with Nebraska. He holds an all-time coaching record of 58-55 and 11-12 with the Huskers. Iowa — Kirk Ferentz is in his 29th season as a college football head coach and 26th with Iowa. He holds an all-time coaching record of 215-144 and 203-123 with the Hawkeyes. Nebraska update : For the first time in eight seasons, Nebraska is headed to a bowl game after Saturday’s 44-25 home final win over Wisconsin at Memorial Stadium. The Huskers put up nearly 500 yards of offense in the win, with quarterback Dylan Raiola threw for 293 yards, while Emmett Johnson became Nebraska’s first 100-yard rusher of the season, finishing with 113. Dante Dowdell also scored three touchdowns. Iowa update : Iowa enters Friday’s season final winners of three of their past four games, including last Saturday’s 29-13 road win at Maryland. The Hawkeyes did so with a walk-on quarterback in Jackson Stratton, who finished with 76 passing yards. Kaleb Johnson, Iowa’s all-world rusher, was magnificent against, finishing with 164 yards and one touchdown. The Hawkeyes are one of the best rushing teams in the country, averaging 213 yards per game, and have a stout defense, allowing less than 18 points per game. Players to watch Nebraska — QB Dylan Raiola, RB Emmett Johnson, WR Jacory Barney Jr, DB Isaac Gifford, DL Ty Robinson, DB Malcolm Hartzog Jr. Iowa — QB Jackson Stratton, RB Kaleb Johnson, WR Jacob Gill, LB Jay Higgins, DL Aaron Graves, DB Quinn Schulte Prediction: Iowa 22, Nebraska 19
CROWDS gathered for the grand relaunch of the General and Butchers Markets in Wrexham city centre today (November 28). At 11am, Mohammed Anwar rang the historic bell traditionally used for the opening and closing of the markets to launch the long-awaited reopening of Wrexham's Markets. (function (d, s, n) { var js, fjs = d.getElementsByTagName(s)[0]; js = d.createElement(s); js.className = n; js.src = "//player.ex.co/player/e5d301f4-11da-46ef-92ef-59ebe3111276"; fjs.parentNode.insertBefore(js, fjs); js.setAttribute('programmatic', 'true'); js.onload = function () { const playerApi238460 = ExCoPlayer.connect('e5d301f4-11da-46ef-92ef-59ebe3111276'); playerApi238460.init({ "autoPlay": false, "mute": true, "showAds": true, "playbackMode": "play-in-view", "content": { "playFirst": [ { "title": "Mayor Beryl Blackmore and her consort Mrs Dorothy Lloyd with Mohammed Anwar Mohammad Anwar", "src": "https://large-cdn.ex.co/transformations/production/c99e768c-9bd9-44ff-b17b-5ff746829fc1/720p.mp4" } ], "playlistId": "649b18405f10d80012522533" }, "sticky": { "mode": "persistent", "closeButton": true, "pauseOnClose": true, "desktop": { "enabled": false, "position": "bottom-right" }, "mobile": { "enabled": false, "position": "upper-small" } }}); }; }(document, 'script', 'exco-player')); The first customers entered the Butchers Market building led by a trio of carol singers who entertained the crowds with classic Christmas tunes. Mayor Beryl Blackmore and her consort Mrs Dorothy Lloyd, dressed for the Victorian-era, walked through the refurbished markets from High Street to the entrance on Henblas Street. The Mayor proceeded to cut a second ribbon for the General Market, guided by a cheery countdown from eager shoppers. document.addEventListener('DOMContentLoaded', function() { iFrameResize({ }, '#exco-iframe-238456'); }, false); Lead member for Economy and Regeneration at Wrexham Council, Cllr Nigel Williams also attended the special event. He said: “The refurbishment of our historic markets represents a significant investment in two prominent city centre locations. "I would like to thank SWG Construction for their hard work bringing the projects to fruition, as well as thank our officers who have worked tirelessly behind the scenes." Customers had the opportunity to have a photo with Father Christmas who made time in his busy schedule to say hello alongside a jolly reindeer, also singing songs at the entrance. Long-standing traders and businesses settled into the newly refurbished building, such as Rob Clarke, owner of 'Mad4Movies' and a familiar face on the award-winning documentary 'Welcome to Wrexham.' Rob has moved back to the markets from his temporary base in Queen's Square. document.addEventListener('DOMContentLoaded', function() { iFrameResize({ }, '#exco-iframe-238458'); }, false); He said: "I'm really happy to be back. I've got a good sized unit so I can get most of my stock in", he laughed. "It might look a lot different going forward, I've rushed to get it all back for the opening. It's great to finally be settled after five-years of moving around. I'm glad to be back and make it my home." MOST READ Mystery surrounds car that's been in Flintshire river for over a week Police up patrols in two Flintshire areas amid overnight thefts from vehicles While several units remain empty, many stalls feature signs that read "Still a work in progress" to remind customers that it will take a few weeks for traders to adjust and organise in the most efficient way. Esme Gilmore from 'Esme's Childrenswear' moved to the markets from Ty Pawb, and offers a variety of handmade children's clothing in beautiful colours and materials. She proudly showed a photo of her parents who founded the stall, showcasing the history and survival of the family business after almost 80-years. Now in the safe hands of Janette Partington, it is the third generation to run the market stall and she is thrilled to finally have a new space. Tracey's Cafe, which has relocated to the left-hand-side of the entrance at Henblas Street was also bustling with excited customers keen to see the long-awaited revamp. The grand opening coincides with the Victorian Christmas Markets, in Wrexham for four-days until Sunday, December 1. Residents can find a variety of stalls across High Street, Church Street and St Giles.Cloud Storage Services Market to grow by USD 123.84 Billion from 2024-2028, driven by increased data generation, with AI shaping market trends - Technavio
SAINTS ended 2024 with an all-too-familiar feeling on Sunday when they suffered a 2-1 defeat at Crystal Palace. Southampton took the lead midway through the first half when Tyler Dibling scored his second senior goal but Palace levelled before the break. Trevoh Chalobah scored from a corner, much to the frustration of goalkeeper Aaron Ramsdale, who felt he had been pushed. His appeals fell on deaf ears, despite Jean-Philippe Mateta’s clear contact knocking him off balance, upon VAR inspection. Ivan Juric turned to Lesley Ugochukwu early in the second half to sure things up but Palace scored less than a minute later, winning the game through Eberechi Eze. Here's how we rated every Southampton player's performance against Crystal Palace... Ivan Juric suffered defeat in his first away game as Saints boss. (Image: PA) Aaron Ramsdale - 6. Made some important saves, preventing Palace from scoring more than twice. Rightfully annoyed with Palace's first, which was after Mateta pushed him. Had a limited view of Eze's winner. Aaron Ramsdale was beaten after being pushed into the post. (Image: PA) James Bree - 6. Came in to replace Yukinari Sugawara, who did not come off the bench. Created two chances but left Saints light on the right, along with Tyler Dibling. Had an effort from a tight angle. Completed two of his five crosses. Taylor Harwood-Bellis - 6. Played a key role in stopping Crystal Palace from scoring two or three in the first half. Wasn't afraid to clear his lines but struggled in the second half, twice fouling in quick succession, earning him a yellow card. Jan Bednarek - 6. Had a tough battle with Mateta but was not given much support by the midfielders in the first half. Was shoulder-barged off the ball by the Frenchman before being booked for a tug. Rescued from an own goal by Ramsdale. Nathan Wood - 5. Struggled against Ismaila Sarr in the first half because the Senegalese winger had the run on him - again in part due to the lack of midfield support. Improved after the break but delayed a through ball for Cameron Archer late on. Kyle Walker-Peters - 7. Played well down the left-hand side again. Bamboozled the Palace defenders with a strong run down the left, leading to Dibling's goal. Didn't deal with Daniel Munoz's ball back into the box, which fell for Eze. Southampton's biggest attacking threat. Kyle Walker-Peters created Southampton's goal out of nothing. (Image: Adam Davy/PA) Joe Aribo - 4. Struggled to impose himself for a third straight game. Held onto the ball in deep areas. Palace found it too easy to get the ball into the forwards behind him. Subbed minutes into the second half. Mateus Fernandes - 7. Struggled in much the same way Aribo did in the first half but was much better when Lesley Ugochukwu was introduced. Forced a save out of Dean Henderson after a moment of individual brilliance. Suspended for Brentford at home after earning his fifth yellow. Tyler Dibling - 6. Got Southampton going with his second goal of the season. Tapped in from close range after moving into a strong position. Struggled to cause many more problems after his goal as Saints ran out of gas. Tyler Dibling scored his second Saints goal against Crystal Palace. (Image: PA) Paul Onuachu - 5. Fed off scraps and had little service all game. Saints aimed balls towards him but he had little chance of doing anything with them. Took a knock before being replaced. Saints looked like a far worse side without him. Adam Armstrong - 5. Had an early effort off-target before providing the assist for Dibling's goal but offered very little. Limited to just 20 touches in 65 minutes. Adam Armstrong got his second assist of the season against Palace. (Image: PA) Substitutes Lesley Ugochukwu - 6. Gave Southampton more solidity in midfield but came on less than a minute before Palace scored the winner. Won two of three tackles. Should start against Brentford later this week. Cameron Archer - 4. Managed just five touches in 25 minutes. Was flagged offside having been played through by Wood, but the ball came too late. Kamaldeen Sulemana - 5. Introduced by Juric with Saints needing an injection of pace. Tried to make an impact but was unsuccessful with his one dribble and one cross. Cut down when he looked like beating a man and running through. Ryan Manning - N/A. Surprised Juric waited until the 86th minute to bring him on. Didn't play enough to be judged fairly. Set for more competition with Charlie Taylor back in the fold and Welington formally joining in January. Adam Lallana - N/A. Bought a free-kick right under the referee's nose. Should hopefully receive more minutes against Brentford.
Liverpool beat Jude Bellingham's Real Madrid 2-0 at Anfield in a brilliant Champions League performance Jude Bellingham admits Liverpool "wanted it more" than Real Madrid in his side's 2-0 defeat to the Reds at Anfield . The England midfielder struggled as the Reds overwhelmed Carlo Ancelotti's side with goals from Alexis Mac Allister and Cody Gakpo. The victory keeps Liverpool top of the Champions League group stage standings with a 100 percent record on 15 points, with Madrid down in 24th on just six points, having lost three times already. And Bellingham, who was a target for Liverpool before he moved to Real in 2023, admitted that Arne Slot's side were better throughout. He told TNT Sports: “From the first minute they took control of the game. We never really maximised the spells we had in possession, when we got the ball back we tried to force it. They kept control. They kept us in a place where we couldn't harm them. "They were just more up for it, which is really disappointing to say. It's a bad result against probably the best performing team in Europe. It's no disgrace to come here and lose, but we're not happy with how we performed. But it's important we use it in the right way. On Kylian Mbappe, who missed a penalty, he added: "It's a big moment in the game. He's a wonderful player, but the pressure that holds, because of how good he is, is huge. The penalty is not the reason why we lost the game. We weren't good enough on the night. They were better than us. It's as simple as that."Minutes of an Executive meeting from June of that year state further action would be considered “as appropriate” if the DUP went ahead with a threat to rotate its ministers. The minutes are within files which have been declassified at the Public Record Office in Belfast. Devolved powersharing had been restored to Northern Ireland in May 2000 when Ulster Unionist leader David Trimble had received the backing of his party to go back into the Assembly, despite there having been no decommissioning of IRA arms at that point. Then DUP deputy leader Mr Robinson and Mr Dodds took up the offices as ministers for regional development and social development, but refused to attend Executive meetings due to the presence of Sinn Fein ministers. The party also said it would rotate its ministerial posts to prevent other parties from taking them. A minute of an Executive meeting on June 8 said Mr Robinson and Mr Dodds had refused a request from First Minister Mr Trimble and deputy First Minister Seamus Mallon to meet with them “to discuss recent public comments by the DUP concerning their positions as ministers”. The minute records that the Executive endorsed a proposal from the First and deputy First Ministers to write again to the two DUP ministers setting out sanctions against them. It says: “The First Minister and and Deputy First Minister would assume responsibility for representing the Executive Committee on transport matters at the British-Irish Council in place of the Minister for Regional Development. “The Minister for Social Development and the Minister for Regional Development would not be nominated to attend meetings of the Joint Ministerial Committee. “Pending the receipt of satisfactory assurances from DUP Ministers regarding the confidentiality and integrity of Executive Committee business, the Minister for Social Development and Minister for Regional Development would not receive Executive Committee papers as of right. “The First Minister and Deputy First Minister would seek briefing, as appropriate, from officials in the Department for Regional Development and Department for Social Development.” The minute continues: “If the DUP carried out their threat to change the holders of the two Ministerial offices on a frequent basis, the Executive Committee would consider other action as appropriate.” Mr Robinson and Mr Dodds resigned as ministers on June 27 and were replaced by party colleagues Gregory Campbell and Maurice Morrow. A minute from an Executive meeting that day says: “The Executive Committee noted that the Minister for Social Development and Minister for Regional Development would be resigning their posts that afternoon, and expressed concern at the proposed rotation of the ministries held by their Party Members.”Remembering Jimmy Carter: A Legacy of Peace and Partnership
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Stormont minister Maurice Morrow told an official he would not raise the issue with the Northern Ireland Executive, despite similar measures being considered in England and Wales. A file on planning arrangements for the jubilee celebrations reveals a series of civil service correspondences on how Northern Ireland would mark the occasion. It includes a letter sent on January 11 2001 from an official in the Office of the First Minister/Deputy First Minister (OFMDFM) to the Department of Social Development, advising that a committee had been set up in London to consider a programme of celebrations. The correspondence says: “One of the issues the committee is currently considering is the possibility of deregulating liquor licensing laws during the golden jubilee celebrations on the same lines as the arrangements made for the millennium. “It is felt that the golden jubilee bank holiday on Monday 3 June 2002 is likely to be an occasion on which many public houses and similar licensed premises would wish to stay open beyond normal closing time.” The letter said a paper had been prepared on the issue of extending opening hours. It adds: “You will note that paragraph seven of the paper indicates that the devolved administrations ‘would need to consider deregulation separately within their own jurisdictions’. “I thought that you would wish to be aware that this issue is receiving active consideration for England and Wales and to consider whether anything needs to be done for Northern Ireland.” Some months later a “progress report” was sent between officials in OFMDFM, which again raised the issue of licensing laws. It says: “I spoke to Gordon Gibson, DSD, about Terry Smith’s letter of 12 January 2001 about licensing laws: the matter was put to their minister Maurice Morrow (DUP) who indicated that he would not be asking the NIE (Northern Ireland Executive) to approve any change to current licensing laws in NI to allow for either 24 hour opening (as at the millennium) nor a blanket approval for extended opening hours as is being considered in GB. “In both cases, primary legislation would be required here and would necessitate consultation and the minister has ruled out any consultation process.” The correspondence says individual licensees could still apply for an extension to opening hours on an ad hoc basis, adding “there the matter rests”. It goes on: “DSD await further pronouncements from the Home Office and Gibson and I have agreed to notify each other of any developments we become aware of and he will copy me to any (existing) relevant papers. “Ministers may well come under pressure in due course for a relaxation and/or parity with GB.” The document concludes “That’s it so far...making haste slowly?” Emails sent between officials in the department the same month said that lord lieutenants in Northern Ireland had been approached about local events to mark the jubilee. One message says: “Lord lieutenants have not shown any enthusiasm for encouraging GJ celebrations at a local level. “Lady Carswell in particular believes that it would be difficult for LLs to encourage such activities without appearing political.”NFA ready to release more riceBryce Thompson scores 17 points and Oklahoma State beats Miami 80-74 in the Charleston Classic
Older siblings everywhere could appreciate John Harbaugh's refusal to concede an inch against his younger brother Jim. Even when his Baltimore Ravens faced fourth down at their 16-yard line in the second quarter, John wasn't giving up the ball without a fight. The Ravens converted that fourth down and two others on their way to a 30-23 victory over the Los Angeles Chargers on Monday night, giving their coach a third victory in three matchups against his brother. It was the first time they'd faced off since Baltimore beat San Francisco — then coached by Jim Harbaugh — in the Super Bowl at the end of the 2012 season. “We grew up in the same room and have always lived our life side by side, but that’s not what the game is about,” John Harbaugh said. “The game really is about the players, and the players are always going to win the game or lose the game or whatever.” On this night, it was Baltimore's players who shined. Specifically Derrick Henry, who rushed for 140 yards. Lamar Jackson threw a couple of touchdown passes, and the defense was solid, allowing touchdowns on the first and last Los Angeles drives but not much in between. “I’m proud of our guys,” John Harbaugh said. “I’m proud of the way they came out and responded after the first 10 points — we were down 10-0, and our guys stepped up.” After converting fourth-and-1 at their 16 late in the second quarter, the Ravens scored on a 40-yard pass from Jackson to Rashod Bateman, taking the lead for good at 14-10. Baltimore's other two fourth-and-1 conversions came on a 14-play touchdown drive that spanned the end of the third quarter and start of the fourth. “We’re just confident that we’ll end up converting on those fourth downs, and we did a great job blocking,” said Henry, who converted the last two of the fourth downs. "All we had to do was make a play, and we did.” The Ravens got back to their identity a bit, rushing for 212 yards. And it wasn't just Henry and Jackson contributing. Justice Hill broke free for a 51-yard touchdown that made it 30-16 in the fourth. “Nobody wants to stand in front of (Derrick Henry) every single play, every single run,” Hill said. "You can do it one time, two times, three times, but when you have to do it 20 to 25 times, it starts to wear down. I’m glad we stuck with the run game this game, and it played out for us.” There were still too many penalties, with the Ravens flagged nine times for 102 yards. Baltimore played a pretty clean game until the fourth quarter, so several of those flags came after the Ravens had the game reasonably under control, but this is still an area of concern. With star linebacker Roquan Smith out because of a hamstring injury, Malik Harrison led the Ravens with a dozen tackles. “It’s a lot of people that doubted me coming into this game, so I’m happy I was able to ball out and show them that I can be in this league, and I can play at a high level,” Harrison said. There was a time when Isaiah Likely seemed as if he might be supplanting Mark Andrews as Baltimore's top tight end threat, but Likely went without a catch Monday. He did, however, recover the onside kick that effectively ended the game. Although Smith was out, DT Travis Jones (ankle) and C Tyler Linderbaum (back) were able to start. Jackson has now thrown 22 touchdown passes with no interceptions on Monday nights, with a passer rating of 124.3. The Ravens have one more game before their open date, and it's a showdown this weekend against a Philadelphia team that has won seven in a row. Saquon Barkley (1,392) of the Eagles and Henry (1,325) have both surpassed 1,300 yards rushing already. Nobody else in the NFL has more than 1,000. AP NFL: https://apnews.com/hub/nfl