Supercomputing center nears debutMumbai: Mahayuti alliance’s new government in Maharashtra will be formed on December 5 with Devendra Fadnavis emerging as the frontrunner to become the next chief minister, a senior BJP leader said on Saturday. In the November 20 Maharashtra assembly polls, the Mahayuti alliance of the Bharatiya Janata Party (BJP), Eknath Shinde-led Shiv Sena and Ajit Pawar’s Nationalist Congress Party (NCP) retained power, pocketing a whopping 230 of the 288 assembly seats. The BJP emerged as the single largest party, winning 132 seats, followed by Shiv Sena with 57 and NCP with 41 seats. However, even after the announcement of poll results a week ago (on November 23), the formation of the government has been delayed as the tripartite alliance is yet to decide on who will be the next chief minister. Shinde, Fadnavis and Pawar met BJP president J P Nadda and Union minister Amit Shah late Thursday to discuss a power-sharing pact for the next government. A key Mahayuti meeting scheduled on Friday was put off and likely to take place on Sunday now as caretaker Chief Minister Eknath Shinde headed to his native village in Satara district, delaying government formation further. The BJP leader, who did not wish to be quoted, said the swearing-in of the new government will take place on December 5. Senior BJP leader Devendra Fadnavis, who was the chief minister twice and deputy chief minister in the last government, is the frontrunner for the top post, the leader said. Another senior BJP leader said the chief minister’s swearing-in ceremony will take place at Azad Maidan in south Mumbai. But before that, a meeting will be held on December 2 to pick the BJP legislature party leader, he said. Caretaker CM Shinde has made it clear that he will fully support BJP leadership’s decision to name the next CM, and that he won’t be a hurdle in the process, while Ajit Pawar-led NCP has backed Fadnavis for the chief minister’s post. In the assembly elections, Congress-led Maha Vikas Aghadi (MVA) suffered a setback. The grand old party registered one of its worst performances in the state assembly polls after it won only 16 seats. Sharad Pawar’s NCP (SP) could bag only 10 seats, whereas Uddhav Thackeray’s (UBT) won 20.
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Shopping on Shein and Temu for holiday gifts? You're not the only oneShopping on Temu can feel like playing an arcade game. Instead of using a joystick-controlled claw to grab a toy, visitors to the online marketplace maneuver their computer mouses or cellphone screens to browse colorful gadgets, accessories and trinkets with prices that look too good to refuse. A pop-up spinning wheel offers the chance to win a coupon. Rotating captions warn that a less than $2 camouflage print balaclava and a $1.23 skeleton hand back scratcher are “Almost sold out.” A flame symbol indicates a $9.69 plush cat print hoodie is selling fast. A timed-down selection of discounted items adds to the sense of urgency. Pages from the Shein website, left, and from the Temu site, right. Welcome to the new online world of impulse buying, a place of guilty pleasures where the selection is vast, every day is Cyber Monday, and an instant dopamine hit is always just a click away. People are also reading... By all accounts, we’re living in an accelerating age for consumerism, one that Temu, which is owned by the Chinese e-commerce company PDD Holdings, and Shein, its fierce rival , supercharged with social media savvy and an interminable assortment of cheap goods, most shipped directly from merchants in China based on real-time demand. The business models of the two platforms, coupled with avalanches of digital or influencer advertising, have enabled them to give Western retailers a run for their money this holiday shopping season. A Christmas tree ornament purchased on Temu. Software company Salesforce said it expects roughly one in five online purchases in the U.S., the United Kingdom, Australia and Canada to be made through four online marketplaces based or founded in Asia: Shein, Temu, TikTok Shop — the e-commerce arm of video-sharing platform TikTok — and AliExpress. Analysts with Salesforce said they are expected to pull in roughly $160 billion in global sales outside of China. Most of the sales will go to Temu and Shein, a privately held company which is thought to lead the worldwide fast fashion market in revenue. Lisa Xiaoli Neville, a nonprofit manager who lives in Los Angeles, is sold on Shein. The bedroom of her home is stocked with jeans, shoes, press-on nails and other items from the ultra-fast fashion retailer, all of which she amassed after getting on the platform to buy a $2 pair of earrings she saw in a Facebook ad. Neville, 46, estimates she spends at least $75 a month on products from Shein. A $2 eggshell opener, a portable apple peeler and an apple corer, both costing less than $5, are among the quirky, single-use kitchen tools taking up drawer space. She acknowledges she doesn’t need them because she “doesn’t even cook like that.” Plus, she’s allergic to apples. “I won’t eat apples. It will kill me,” Neville said, laughing. “But I still want the coring thing.” Is it safe to shop on Temu? Here are 5 scams to avoid on the popular online shopping platform Shein, now based in Singapore, uses some of the same web design features as Temu’s, such as pop-up coupons and ads, to persuade shoppers to keep clicking, but it appears a bit more restrained in its approach. Shein primarily targets young women through partnerships with social media influencers. Searching the company's name on video platforms turns up creators promoting Shein's Black Friday sales event and displaying the dozens of of trendy clothes and accessories they got for comparatively little money. But the Shein-focused content also includes videos of TikTokers saying they're embarrassed to admit they shopped there and critics lashing out at fans for not taking into account the environmental harms or potential labor abuses associated with products that are churned out and shipped worldwide at a speedy pace. Neville has already picked out holiday gifts for family and friends from the site. Most of the products in her online cart cost under $10, including graphic T-shirts she intends to buy for her son and jeans and loafers for her daughter. All told, she plans to spend about $200 on gifts, significantly less than $500 she used to shell out at other stores in prior years. “The visuals just make you want to spend more money,” she said, referring to the clothes on Shein's site. “They're very cheap and everything is just so cute.” Can AI chatbots make your holiday shopping easier? Unlike Shein, Temu's appeal cuts across age groups and gender. The platform is the world’s second most-visited online shopping site, software company Similarweb reported in September. Customers go there looking for practical items like doormats and silly products like a whiskey flask shaped like a vintage cellphone from the 1990s. Temu advertised Black Friday bargains for some items at upwards of 70% off the recommended retail price. Making a purchase can quickly result in receiving dozens of emails offering free giveaways. The caveat: customers have to buy more products. Despite their rise, Temu and Shein have proven particularly ripe for pushback. Last year, a coalition of unnamed brands and organizations launched a campaign to oppose Shein in Washington. U.S. lawmakers also have raised the possibility that Temu is allowing goods made with forced labor to enter the country. More recently, the Biden administration put forward rules that would crack down on a trade rule known as the de minimis exception, which has allowed a lot of cheap products to come into the U.S. duty-free. President-elect Donald Trump is expected to slap high tariffs on goods from China, a move that would likely raise prices across the retail world. Both Shein and Temu have set up warehouses in the U.S. to speed up delivery times and help them better compete with Amazon, which is trying to erode their price advantage through a new storefront that also ships products directly from China. The right book can inspire the young readers in your life, from picture books to YA novels Small, luxury foods are great as stocking stuffers or other gifts. Ideas for under $50 Game-changing holiday gifts for building fires, printing photos, watching birds and more 2024 Christmas TV Guide: When to watch Rudolph, Charlie Brown and other holiday favorites Get the latest local business news delivered FREE to your inbox weekly.
Islanders host the Red Wings after Palmieri's 2-goal game Detroit Red Wings (8-10-2, in the Atlantic Division) vs. New York Islanders (8-8-5, in the Metropolitan Division) Elmont, New York; Monday, 7:30 p.m. Canadian Press Nov 24, 2024 1:12 AM Nov 24, 2024 1:20 AM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Detroit Red Wings (8-10-2, in the Atlantic Division) vs. New York Islanders (8-8-5, in the Metropolitan Division) Elmont, New York; Monday, 7:30 p.m. EST BOTTOM LINE: The New York Islanders host the Detroit Red Wings after Kyle Palmieri scored two goals in the Islanders' 3-1 win against the St. Louis Blues. New York has an 8-8-5 record overall and a 3-3-2 record in home games. The Islanders have a 2-3-1 record when they commit more penalties than their opponent. Detroit is 8-10-2 overall and 4-5-1 on the road. The Red Wings have gone 3-3-2 in games their opponents serve fewer penalty minutes. The teams meet Monday for the third time this season. The Red Wings won the last meeting 2-1. TOP PERFORMERS: Bo Horvat has five goals and nine assists for the Islanders. Maxim Tsyplakov has over the last 10 games. Alex DeBrincat has eight goals and nine assists for the Red Wings. Albert Johansson has over the past 10 games. LAST 10 GAMES: Islanders: 4-3-3, averaging 2.7 goals, 4.7 assists, 2.6 penalties and 5.5 penalty minutes while giving up 2.6 goals per game. Red Wings: 4-5-1, averaging 2.2 goals, 3.5 assists, 2.2 penalties and 4.4 penalty minutes while giving up 2.5 goals per game. INJURIES: Islanders: None listed. Red Wings: None listed. ___ The Associated Press created this story using technology provided by Data Skrive and data from Sportradar . The Associated Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Get your daily Victoria news briefing Email Sign Up More Hockey San Jose brings losing streak into game against Los Angeles Nov 24, 2024 1:12 AM Flames visit the Senators after shootout win Nov 24, 2024 1:12 AM Panthers bring losing streak into matchup with the Capitals Nov 24, 2024 1:12 AM
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Durango quizzes residents in ‘Nerds Night Out’ trivia seriesCALGARY, Alberta, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to announce its 2025 budget with capital projects that will balance cash flow growth while continuing to deliver a durable return of capital framework that will direct 100% of Free Cash Flow to share buybacks in 2025. Corporate Consolidated Strategy and Outlook Value Creation Strategy. Athabasca provides a differentiated liquids-weighted growth platform through its low-decline, long-life Thermal Oil assets. Athabasca’s subsidiary company, Duvernay Energy Corporation (“DEC”), is designed to enhance value for Athabasca’s shareholders by providing a clear path for self-funded production and cash flow growth in the Kaybob Duvernay resource play. Athabasca (Thermal Oil) and DEC have independent strategies and capital allocation frameworks. The primary strategic objective is to generate top-tier cash flow per share growth over the long term. 2025 Consolidated Budget. Athabasca is planning capital expenditures of ~$335 million with average production of 37,500 – 39,500 boe/d (98% Liquids) and an exit rate of ~41,000 boe/d. Growth in production comes from the expansion plans at Leismer and development of the Duvernay assets. Cash Flow Per Share Growth . The Company forecasts consolidated Adjusted Funds Flow between $525 – $550 million 1 . Every +US$1/bbl move in West Texas Intermediate (“WTI”) and Western Canadian Select (“WCS”) heavy oil impacts annual Adjusted Funds Flow by ~$10 million and ~$17 million, respectively. Athabasca forecasts generating ~$1.8 billion of Free Cash Flow 1 from its Thermal Oil assets over five years (2025-29), representing ~65% of its current equity market capitalization. Investing in attractive capital projects and prioritizing share buybacks results in ~20% compounded annual cash flow per share 2 growth through this forecast period. Financial Resiliency. Athabasca maintains a strong and differentiated balance sheet with a $135 million consolidated Net Cash position, including ~$335 million of cash. DEC has no debt and operates within its annual Adjusted Funds Flow and its balance sheet. Athabasca (Thermal Oil) also has $2.4 billion in tax pools, including $1.9 billion of immediately deductible non-capital loses and exploration pools, sheltering cash taxes until beyond 2030. Athabasca (Thermal Oil) – 2025 Budget Highlights Capital Program . The Thermal Oil budget is ~$250 million with activity focused primarily on advancing progressive growth to 40,000 bbl/d at Leismer by the end of 2027. The program at Leismer will include the tie-in of six redrills and four new sustaining well pairs on Pad 10 early in 2025, additional development at Pad 10 and 11, and continued facility expansion work. At Hangingstone two new extended reach sustaining well pairs (~1,400 meter average laterals) will be on stream in Q1 2025 and are expected to maintain annual production. The Budget includes routine maintenance at both assets. Production Growth . Annual Thermal Oil production guidance is 33,500 – 35,500 bbl/d. Leismer is expected to achieve 40,000 bbl/d by the end of 2027 at an attractive capital efficiency of ~$25,000/bbl/d. Hangingstone production will be maintained by utilizing existing plant capacity, resulting in capital efficiencies of ~$15,000/bbl/d. The Company has ~1.2 billion barrels of Proved plus Probable reserves and ~1 billion of Contingent Resource. These Thermal Oil assets underpin decades of reserve life with estimated sustaining capital investment of ~C$8/bbl (five-year annual average) to hold production flat. Robust Free Cash Flow. During the five-year time frame (2025-29), Athabasca (Thermal Oil) forecasts generating $1.8 billion in Free Cash Flow 1 , representing ~65% of its current equity market capitalization. Competitive and Resilient Break-evens. Thermal Oil is competitively positioned with sustaining capital to hold production flat funded within cash flow below US$50/bbl WTI 1 and growth initiatives fully funded within cash flow below US$60/bbl WTI 1 . The Company’s operating break-even is estimated at ~US$40/bbl WTI 1 . Exposure to Strong Heavy Oil Pricing. With the start-up of the Trans Mountain pipeline expansion in May, spare pipeline capacity is driving tighter and less volatile WCS heavy differentials. Regional liquids pricing benchmarks have also been supported by a depreciating Canadian currency relative to the United States. Every +US$1/bbl move in West Texas Intermediate (“WTI”) and WCS heavy oil impacts annual Adjusted Funds Flow by ~$10 million and ~$17 million, respectively. Pre-payout Thermal Oil Differentiation. Strong margins and Free Cash Flow are supported by a Thermal Oil pre-payout Crown royalty structure, with royalty rates between 5 – 9% anticipated to last to the end of 2027 at Leismer and beyond 2030 at Hangingstone. Duvernay Energy Corporation – 2025 Budget Highlights Capital Program. The DEC budget is ~$85 million with activity including the completion of a 100% working interest (“WI”) three-well pad that was drilled in 2024 and the drilling and completion of a 30% WI multi-well pad. Activity will also include spudding two additional multi-well pads in H2 2025 (one operated 100% WI pad and one 30% WI pad) with completions to follow in 2026. DEC is also constructing strategic water and egress expansions on its operated assets. High Netback Production. Annual production guidance is ~4,000 boe/d (77% Liquids) with growth to ~5,500 boe/d by the end of 2025. The Kaybob Duvernay’s high liquid weighting supports strong margins with current type wells forecasted to payout in ~13 months 1 and further cost improvements are expected as the Company executes larger multi-well pad design. Growth Plans. Development will be self-funded within DEC through utilization of 100% of its annual Adjusted Funds Flow and its balance sheet. The Company has self-funded growth potential to in excess of ~20,000 boe/d (75% Liquids) by the late 2020s 1 . Return of Capital 100% of Free Cash Flow Directed to Share Buybacks. In 2025, the Company plans to maintain its commitment to return 100% of Thermal Oil Free Cash Flow to shareholders through share buybacks. In 2024, the Company has completed ~$280 million in share buybacks to the end of November. Share buybacks were initiated in April 2023 and have totaled ~$440 million to date. Focus on Per Share Metrics: A steadfast commitment to cash flow growth and return of capital has driven a 108 million share reduction (~17%) in the Company’s fully diluted share count since March 31, 2023. The Company has realized ~100% cash flow per share growth since 2022 and the corporate strategy is to continue to generate top tier cash flow per share growth over the long term. Footnote: Refer to the “Reader Advisory” section within this news release for additional information on Non‐GAAP Financial Measures (e .g. Adjusted Funds Flow, Free Cash Flow, Sustaining Capital, Net Cash ) and production disclosure. 1 Pricing Assumptions: 2025: US$70 WTI, US$12.50 WCS heavy differential, C$2 AECO, and 0.725 C$/US$ FX. 2026+: US$70 WTI, US$12.50 WCS heavy differential, C$3 AECO, and 0.725 C$/US$ FX. 2 The Company’s illustrative multi-year outlook assumes a 10% annual share buyback program at an implied share price of 4.5x Enterprise Value/Debt Adjusted Cash Flow in 2026 and beyond. About Athabasca Oil Corporation Athabasca Oil Corporation is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. Situated in Alberta’s Western Canadian Sedimentary Basin, the Company has amassed a significant land base of extensive, high quality resources. Athabasca’s light oil assets are held in a private subsidiary (Duvernay Energy Corporation) in which Athabasca owns a 70% equity interest. Athabasca’s common shares trade on the TSX under the symbol “ATH”. For more information, visit www.atha.com . Reader Advisory: This News Release contains forward-looking information that involves various risks, uncertainties and other factors. All information other than statements of historical fact is forward-looking information. The use of any of the words “anticipate”, “plan”, “project”, “continue”, “maintain”, “may”, “estimate”, “expect”, “will”, “target”, “forecast”, “could”, “intend”, “potential”, “guidance”, “outlook” and similar expressions suggesting future outcome are intended to identify forward-looking information. The forward-looking information is not historical fact, but rather is based on the Company’s current plans, objectives, goals, strategies, estimates, assumptions and projections about the Company’s industry, business and future operating and financial results. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. No assurance can be given that these expectations will prove to be correct and such forward-looking information included in this News Release should not be unduly relied upon. This information speaks only as of the date of this News Release. In particular, this News Release contains forward-looking information pertaining to, but not limited to, the following: our strategic plans; the allocation of future capital; timing and quantum for shareholder returns including share buybacks; the terms of our NCIB program; our drilling plans and capital efficiencies; production growth to expected production rates and estimated sustaining capital amounts; timing of Leismer’s and Hangingstone’s pre-payout royalty status; applicability of tax pools and the timing of tax payments; Adjusted Funds Flow and Free Cash Flow over various periods; type well economic metrics; number of drilling locations; forecasted daily production and the composition of production; our outlook in respect of the Company’s business environment, including in respect of the Trans Mountain pipeline expansion and heavy oil pricing; and other matters. In addition, information and statements in this News Release relating to "Reserves" and “Resources” are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated, and that the reserves and resources described can be profitably produced in the future. With respect to forward-looking information contained in this News Release, assumptions have been made regarding, among other things: commodity prices; the regulatory framework governing royalties, taxes and environmental matters in the jurisdictions in which the Company conducts and will conduct business and the effects that such regulatory framework will have on the Company, including on the Company’s financial condition and results of operations; the Company’s financial and operational flexibility; the Company’s financial sustainability; Athabasca's cash flow break-even commodity price; the Company’s ability to obtain qualified staff and equipment in a timely and cost-efficient manner; the applicability of technologies for the recovery and production of the Company’s reserves and resources; future capital expenditures to be made by the Company; future sources of funding for the Company’s capital programs; the Company’s future debt levels; future production levels; the Company’s ability to obtain financing and/or enter into joint venture arrangements, on acceptable terms; operating costs; compliance of counterparties with the terms of contractual arrangements; impact of increasing competition globally; collection risk of outstanding accounts receivable from third parties; geological and engineering estimates in respect of the Company’s reserves and resources; recoverability of reserves and resources; the geography of the areas in which the Company is conducting exploration and development activities and the quality of its assets. Certain other assumptions related to the Company’s Reserves and Resources are contained in the report of McDaniel & Associates Consultants Ltd. (“McDaniel”) evaluating Athabasca’s Proved Reserves, Probable Reserves and Contingent Resources as at December 31, 2023 (which is respectively referred to herein as the "McDaniel Report”). Actual results could differ materially from those anticipated in this forward-looking information as a result of the risk factors set forth in the Company’s Annual Information Form (“AIF”) dated February 29, 2024 available on SEDAR at www.sedarplus.ca, including, but not limited to: weakness in the oil and gas industry; exploration, development and production risks; prices, markets and marketing; market conditions; climate change and carbon pricing risk; statutes and regulations regarding the environment including deceptive marketing provisions; regulatory environment and changes in applicable law; gathering and processing facilities, pipeline systems and rail; reputation and public perception of the oil and gas sector; environment, social and governance goals; political uncertainty; state of capital markets; ability to finance capital requirements; access to capital and insurance; abandonment and reclamation costs; changing demand for oil and natural gas products; anticipated benefits of acquisitions and dispositions; royalty regimes; foreign exchange rates and interest rates; reserves; hedging; operational dependence; operating costs; project risks; supply chain disruption; financial assurances; diluent supply; third party credit risk; indigenous claims; reliance on key personnel and operators; income tax; cybersecurity; advanced technologies; hydraulic fracturing; liability management; seasonality and weather conditions; unexpected events; internal controls; limitations and insurance; litigation; natural gas overlying bitumen resources; competition; chain of title and expiration of licenses and leases; breaches of confidentiality; new industry related activities or new geographical areas; water use restrictions and/or limited access to water; relationship with Duvernay Energy Corporation; management estimates and assumptions; third-party claims; conflicts of interest; inflation and cost management; credit ratings; growth management; impact of pandemics; ability of investors resident in the United States to enforce civil remedies in Canada; and risks related to our debt and securities. All subsequent forward-looking information, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Also included in this News Release are estimates of Athabasca's 2024 outlook which are based on the various assumptions as to production levels, commodity prices, currency exchange rates and other assumptions disclosed in this News Release. To the extent any such estimate constitutes a financial outlook, it was approved by management and the Board of Directors of Athabasca and is included to provide readers with an understanding of the Company’s outlook. Management does not have firm commitments for all of the costs, expenditures, prices or other financial assumptions used to prepare the financial outlook or assurance that such operating results will be achieved and, accordingly, the complete financial effects of all of those costs, expenditures, prices and operating results are not objectively determinable. The actual results of operations of the Company and the resulting financial results may vary from the amounts set forth herein, and such variations may be material. The outlook and forward-looking information contained in this New Release was made as of the date of this News release and the Company disclaims any intention or obligations to update or revise such outlook and/or forward-looking information, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Oil and Gas Information “BOEs" may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (6 Mcf: 1 bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value. Initial Production Rates Test Results and Initial Production Rates: The well test results and initial production rates provided herein should be considered to be preliminary, except as otherwise indicated. Test results and initial production rates disclosed herein may not necessarily be indicative of long-term performance or of ultimate recovery. Reserves Information The McDaniel Report was prepared using the assumptions and methodology guidelines outlined in the COGE Handbook and in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities, effective December 31, 2023. There are numerous uncertainties inherent in estimating quantities of bitumen, light crude oil and medium crude oil, tight oil, conventional natural gas, shale gas and natural gas liquids 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 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 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. Reserves figures described herein have been rounded to the nearest MMbbl or MMboe. For additional information regarding the consolidated reserves and information concerning the resources of the Company as evaluated by McDaniel in the McDaniel Report, please refer to the Company’s AIF. Reserve Values (i.e. Net Asset Value) is calculated using the estimated net present value of all future net revenue from our reserves, before income taxes discounted at 10%, as estimated by McDaniel effective December 31, 2023 and based on average pricing of McDaniel, Sproule and GLJ as of January 1, 2024. The 500 gross Duvernay drilling locations referenced include: 37 proved undeveloped locations and 76 probable undeveloped locations for a total of 113 booked locations with the balance being unbooked locations. Proved undeveloped locations and probable undeveloped locations are booked and derived from the Company's most recent independent reserves evaluation as prepared by McDaniel as of December 31, 2023 and account for drilling locations that have associated proved and/or probable reserves, as applicable. Unbooked locations are internal management estimates. Unbooked locations do not have attributed reserves or resources (including contingent or prospective). Unbooked locations have been identified by management as an estimation of Athabasca’s multi-year drilling activities expected to occur over the next two decades 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 will actually drill wells, including the number and timing thereof is ultimately dependent upon the availability of funding, commodity prices, provincial fiscal and royalty policies, costs, actual drilling results, additional reservoir information that is obtained and other factors. Non-GAAP and Other Financial Measures, and Production Disclosure The "Corporate Consolidated Adjusted Funds Flow", "Athabasca (Thermal Oil) Adjusted Funds Flow", "Duvernay Energy Adjusted Funds Flow", “Corporate Consolidated Free Cash Flow”, "Athabasca (Thermal Oil) Free Cash Flow" and "Duvernay Energy Free Cash Flow" financial measures contained in this News Release do not have standardized meanings which are prescribed by IFRS and they are considered to be non-GAAP financial measures or ratios. These measures may not be comparable to similar measures presented by other issuers and should not be considered in isolation with measures that are prepared in accordance with IFRS. Sustaining Capital and Net Cash are supplementary financial measures. The Leismer and Hangingstone operating results are supplementary financial measures that when aggregated, combine to the Athabasca (Thermal Oil) segment results. Adjusted Funds Flow and Free Cash Flow Adjusted Funds Flow and Free Cash Flow are non-GAAP financial measures and are not intended to represent cash flow from operating activities, net earnings or other measures of financial performance calculated in accordance with IFRS. The Adjusted Funds Flow and Free Cash Flow measures allow management and others to evaluate the Company’s ability to fund its capital programs and meet its ongoing financial obligations using cash flow internally generated from ongoing operating related activities. Sustaining Capital Sustaining Capital is managements' assumption of the required capital to maintain the Company’s production base. Net Cash Net Cash is defined as the face value of term debt, plus accounts payable and accrued liabilities, plus current portion of provisions and other liabilities plus income tax payable less current assets, excluding risk management contracts. Production volumes details This News Release also makes reference to Athabasca's forecasted average daily Thermal Oil production of 33,500 ‐ 35,500 bbl/d for 2025. Athabasca expects that 100% of that production will be comprised of bitumen. Duvernay Energy’s forecasted total average daily production of ~4,000 boe/d for 2025 is expected to be comprised of approximately 68% tight oil, 23% shale gas and 9% NGLs. Liquids is defined as bitumen, tight oil, light crude oil, medium crude oil and natural gas liquids. Break Even is an operating metric that calculates the US$WTI oil price required to fund operating costs (Operating Break-even), sustaining capital (Sustaining Break-even), or growth capital (Total Capital) within Adjusted Funds Flow. Enterprise Value to Debt Adjusted Cash Flow is a valuation metric calculated by dividing Enterprise Value (Market Capitalization plus Net Debt) divided by Cash Flow before interest costs.23-year-old Adam Rissetto says he has been trying to get a picture of the Triangulum Galaxy - a spiral galaxy 2.73 million light-years from Earth "for a long time" and has finally completed his mission. Adam, who last year graduated from Teesside University with a degree in photography, usually heads to a secluded spot named Summerhouse on the outskirts of Darlington for maximum darkness. Adam Rissetto, 23. (Image: ADAM RISSETTO) After waiting for hours for the sky to clear on November 11, he was finally able to get his chance to see the Triangulum Galaxy, which was discovered in 1654, at 10pm. He said: "I did have a passion for photography before I went to university - and started by doing both Astrophotography as well as wildlife. "I don't get pictures like this very often as we usually have terrible weather! I was still happy with this and went on to post it as a work in progress." Adam's picture of the Triangulum Galaxy. (Image: ADAM RISSETTO) Adam went on to explain how getting pictures like this really works - as it's not as simple as just pointing the camera up and getting the perfect shot. Using a hoard of equipment including an equatorial mount to track the subject, pictures are taken over a matter of hours and are then collated together to make the final product. This time, the Triangulum Galaxy shot was taken after just an hour of tracking as the cloud meant he was unable to get a clear view for long. Another picture taken by Adam - this time of the North America Nebula. (Image: ADAM RISSETTO) However, despite Adam saying it is "not his best" - he received a load of praise and good feedback when he posted it on social media not long after. He added: "It's awesome to get such nice comments, I never expect any praise as I just enjoy sharing my work. "I never see anyone else doing what I do - so it's quite nice to be one of the only ones."
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It's a significant step toward autonomous robotic surgery. In a groundbreaking development, researchers at Johns Hopkins University (JHU) and Stanford University have successfully trained a robotic surgical system to perform complex tasks with the skill of human doctors. This achievement marks a significant step toward autonomous robotic surgery , potentially transforming the future of medical procedures. Robotic surgical system. (Johns Hopkins University) Robots learn from watching surgical videos The team utilized a da Vinci Surgical System, a robotic platform typically controlled remotely by surgeons . Using a machine learning technique called imitation learning, they trained the system to perform three critical surgical tasks: manipulating a needle, lifting body tissue and suturing. 3 DAYS LEFT! I’M GIVING AWAY A $500 GIFT CARD FOR THE HOLIDAYS (Ends 12/3/24 12 pm PT) What sets this approach apart is the training method. Instead of painstakingly programming each movement, the robot learned by watching hundreds of videos recorded from wrist-mounted cameras on da Vinci robots during actual surgical procedures. This method allows the robot to learn from the collective experience of numerous skilled surgeons, potentially surpassing the capabilities of any single human operator. KURT’S BEST NEW BLACK FRIDAY DEALS Da Vinci surgical system. (Intuitive) COULD YOUR NEXT PHYSICAL EXAM BE PERFORMED BY A ROBOT FINGER? AI combines imitation learning with robotics for surgical precision The researchers developed an AI model that merges imitation learning with the machine learning architecture used in popular language models like ChatGPT. However, this model operates in the language of robotics — kinematics — translating visual input into precise robotic movements. This sophisticated approach allows the system to understand and replicate complex surgical maneuvers with remarkable accuracy. Da Vinci surgical system. (Intuitive) THE CREEPY YET HELPFUL HUMANOID ROBOT READY TO MOVE INTO YOUR HOME Impressive results and self-correction The surgical system not only executed tasks as proficiently as human surgeons but also demonstrated the ability to correct its own mistakes. As Axel Krieger, assistant professor at JHU, noted, "Like if it drops the needle, it will automatically pick it up and continue. This isn't something I taught it to do." This level of autonomy and adaptability is crucial in surgical settings where unexpected situations can arise. The robot's ability to problem-solve and adjust its actions in real time could potentially reduce complications and improve patient outcomes. Da Vinci surgical system. (Intuitive) ROBOTS GET A FEEL FOR HUMAN TOUCH, NO ARTIFICIAL SKIN REQUIRED Accelerating the path to autonomous surgery This breakthrough could significantly speed up the development of autonomous surgical robots. Traditional methods of programming robots for surgery are time-consuming and limited in scope. With this new approach, Krieger explains, "We only have to collect imitation learning of different procedures, and we can train a robot to learn it in a couple days." This rapid learning capability opens up possibilities for quickly adapting surgical robots to new procedures or techniques, potentially revolutionizing the field of robotic surgery. WHAT IS ARTIFICIAL INTELLIGENCE (AI)? Robotic surgical system. (Johns Hopkins University) Looking ahead: Full surgical procedures The JHU team is now working on expanding this technology to train robots to perform complete surgical procedures. While fully autonomous robotic surgery may still be years away, this innovation paves the way for safer and more accessible complex treatments worldwide. The ability to train robots on entire surgical procedures could lead to standardized, high-quality surgical care even in areas lacking specialized surgeons. GET FOX BUSINESS ON THE GO BY CLICKING HERE Robotic surgical system. (Johns Hopkins University) SUBSCRIBE TO KURT’S YOUTUBE CHANNEL FOR QUICK VIDEO TIPS ON HOW TO WORK ALL OF YOUR TECH DEVICES Kurt’s key takeaways By harnessing the power of AI and imitation learning, we're witnessing the birth of surgical robots that can learn and adapt much like human surgeons. As this technology continues to evolve, it holds the promise of reducing medical errors, increasing surgical precision, and potentially making advanced surgical procedures available to more patients globally. While there are still challenges to overcome, including ethical considerations and regulatory approvals, the future of AI-assisted and autonomous robotic surgery looks increasingly promising. CLICK HERE TO GET THE FOX NEWS APP Would you feel comfortable undergoing surgery performed by a robotic system trained using AI and imitation learning? 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ISLAMABAD: President Asif Ali Zardari on Thursday eulogized Mohtarma Benazir Bhutto’s political legacy and courage as unmatched and eternal vision a guiding light for the nation. In his message on the 17th martyrdom anniversary of former prime minister, issued from the President’s Office, Asif Ali Zardari said, “Today, we are observing the 17th martyrdom anniversary of Shaheed Mohtarma Benazir Bhutto. On this day, we honour a leader who embodied the very spirit of hope, resilience, and unwavering commitment to the ideals of democracy and justice.” He added that she was a trailblazer who dreamt of a Pakistan where the rights of all citizens, irrespective of colour, class and creed, would be protected, and the power of the people would reign supreme. Benazir Bhutto once said, “Democracy is the best revenge”, the President mentioned and added that these words were not just a defiant response to tyranny and dictatorship but reflected her profound belief in the transformative power of the people. She envisioned a Pakistan, he said where every child could access education, where women could progress as equals, and where justice was not a privilege but a right. Throughout her life, she raised her voice and worked for the uplift of the downtrodden segments of society and women’s empowerment, he added. President Zardari underlined that her life was a journey of immense courage and a source of inspiration and strength for the nation. Facing adversity and persecution, he said she remained steadfast in her struggle against dictatorships for the restoration and strengthening of democracy and the protection of people’s political, economic and social rights. He added that Benazir famously declared, “The fight against injustice and cruelty is the fight of my life.” She lived and died fighting for this cause, and is still alive in the hearts of millions of people. She firmly believed: “You can imprison a man, but not an idea. You can exile a man, but not an idea. You can kill a man, but not an idea.” “As President of Pakistan, I reaffirm my commitment to advancing her vision of a peaceful, progressive and democratic Pakistan. Her ideas live on, urging us to rise above differences and build a Pakistan that is united, inclusive, and just. So, let us not merely mourn her loss but commit to follow her enduring legacy. “Shaheed Mohtarma Benazir Bhutto and our family sacrificed their lives for the cause of democracy and Pakistan. It is my firm belief that we, as a nation, need to draw inspiration from her vision to steer the country out of its current challenges. Let us work together to ensure that her dream of a peaceful, progressive, and democratic Pakistan becomes a reality,” he urged. Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );How to Watch Top 25 Women’s College Basketball Games – Sunday, December 1Plymouth dance studio lands championship titlesTrump’s critics fear he will use IRS to get retribution