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HEALTH HAPPENINGS

Pittsburgh Tribune-Review - 13 November 2018 - 1:36am
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Blood drives • American Red Cross will host these blood drives: -- 12:30-6:30 p.m. today, Charter Oak Church, 449 Fry Farm Road, Unity --1-6:30 p.m. ...
Categories: State

Baby aspirin linked to reduced ovarian cancer, study finds

Pittsburgh Tribune-Review - 13 November 2018 - 1:36am
A study published last month offers some new hope for helping prevent ovarian cancer -- in the form of a baby aspirin -- and may ...
Categories: State

Numerous events slated to kickoff the holiday season in style

Pittsburgh Tribune-Review - 13 November 2018 - 1:33am
Santa and Mrs. Claus will be visiting the region to help get the community into the Christmas spirit." src = "https://triblive.com/rss/photos/?STREAMOID=5WTotdALR786ptysMniFEM$daE2N3K4ZzOUsqbU5sYuQ49XXWHtEjkc_SXYW7$PMWCsjLu883Ygn4B49Lvm9bPe2QeMKQdVeZmXF$9l$4uCZ8QDXhaHEp3rvzXRJFdy0KqPHLoMevcTLo3h8xh70Y6N_U_CryOsw6FTOdKL_jpQ-&CONTENTTYPE=image/jpeg">
It will begin to look a lot like Christmas after local municipalities host the following free holiday decorating events: Shaler What: 29th Annual Holiday "Lite ...
Categories: State

How best to help daughter's friend after she loses high school scholarship

Pittsburgh Tribune-Review - 13 November 2018 - 1:33am
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Adapted from a recent online discussion. Dear Carolyn: My daughter is a freshman at an expensive private high school. She has become best friends with ...
Categories: State

After musical courtship, Mumford & Sons net perfect producer

Pittsburgh Tribune-Review - 13 November 2018 - 1:33am
Mumford & Sons, (from left), Ben Lovett, Marcus Mumford, Winston Marshall and Ted Dwane." src = "https://triblive.com/rss/photos/?STREAMOID=Hm87GXVDdYBOuYPpltvwps$daE2N3K4ZzOUsqbU5sYtLAvdcS2ZJmBHXmE6SXWizWCsjLu883Ygn4B49Lvm9bPe2QeMKQdVeZmXF$9l$4uCZ8QDXhaHEp3rvzXRJFdy0KqPHLoMevcTLo3h8xh70Y6N_U_CryOsw6FTOdKL_jpQ-&CONTENTTYPE=image/jpeg">
NEW YORK -- Ever been on a blind date with a rock star? How about four of them? That was Grammy-winning producer Paul Epworth's experience ...
Categories: State

Crisis Center North employee recognized for dedication

Pittsburgh Tribune-Review - 13 November 2018 - 1:33am
Tory Smith from the Clinton County Women’s Center, Susan Higginbotham, executive director of the Pennsylvania Coalition Against Domestic Violence, and Charlene Woods, the recipient of the Luminary Award at a conference Oct. 24-26 in Lancaster." src = "https://triblive.com/rss/photos/?STREAMOID=ExePn83$RiJsAVBjLlfv2s$daE2N3K4ZzOUsqbU5sYsWUjpKXPluG9XnxVz02aKfWCsjLu883Ygn4B49Lvm9bPe2QeMKQdVeZmXF$9l$4uCZ8QDXhaHEp3rvzXRJFdy0KqPHLoMevcTLo3h8xh70Y6N_U_CryOsw6FTOdKL_jpQ-&CONTENTTYPE=image/jpeg">
Charlene Woods hopes a statewide award she earned will shine light on a topic she has cared about since childhood. Woods, 55, from Cranberry, was ...
Categories: State

Hobby turns into cookie business for busy wife, mom

Pittsburgh Tribune-Review - 13 November 2018 - 1:33am
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Rhonda Campagna, a stay-at-home mom, and business owner of Campagna's Cookie Closet, is grateful for her family and her business. A true testimony of compassion ...
Categories: State

Pine-Richland teens create travel app that is getting attention from industry giants

Pittsburgh Tribune-Review - 13 November 2018 - 1:33am
Pine-Richland High School senior Arjan Guglani and junior Justin Waltrip participated in an event at the Pittsburgh International Airport sponsored by the Pittsburgh Technology Council’s nonprofit FortyXEighty." src = "https://triblive.com/rss/photos/?STREAMOID=urW_h9kIMq$qWLJPmby5oc$daE2N3K4ZzOUsqbU5sYsm8rUlPUT3lPXUab14tPm1WCsjLu883Ygn4B49Lvm9bPe2QeMKQdVeZmXF$9l$4uCZ8QDXhaHEp3rvzXRJFdy0KqPHLoMevcTLo3h8xh70Y6N_U_CryOsw6FTOdKL_jpQ-&CONTENTTYPE=image/jpeg">
Delivering a five-minute sales pitch to people who could help move one's business venture in the right direction isn't easy, but neither is designing an ...
Categories: State

Awilco Drilling PLC: Awilco Drilling Reports Q3 2018 Results

Oil - 13 November 2018 - 1:01am

Awilco Drilling PLC reported contract revenue of USD 3.2 million (USD 9.0 million in Q2), EBITDA USD 6.5 million loss (USD 1.9 million loss in Q2) and net loss of USD 10.2 million (USD 7.6 million loss in Q2).

Revenue efficiency was 90.9% during the quarter (98.5% in Q2).

Contract utilisation was 12.8% during the quarter (13.9% in Q2).

Contract backlog at the end of Q3 was approximately USD 41.4 million (approximately USD 44.2 million end of Q2).

Please see attached for the Q3 2018 report.

A quarterly presentation will be held on 13 November 2018 at 10:30 CET in Awilhelmsen's offices at Beddingen 8, Aker Brygge, Oslo, Norway.

A conference call will be held on 13 November 2018 at 13:00 UK time (14:00pm CET / 08:00 EST). The presentation will be available for download on the Investor Relations section (go to "Press Releases") at www.awilcodrilling.com prior to the call. There will be a Q&A session after the presentation.

Click this link to register for the conference call or copy and paste the following address into your browser:
http://members.meetingzone.com/selfregistration/registration.aspx?booking=SoiMri6aq8efalSHIqQpxqPv0VUtaTkvsNydCoCO8YU=
Once registered, you will receive an email with dial-in numbers and pins.

Aberdeen, 13 November 2018


For further information please contact:

Jon Oliver Bryce, CEO
Phone: +44 1224 737900

Cathrine Haavind, IR Manager
Phone: +47 93 42 84 64
Email: ch@awilcodrilling.com


This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 

Attachment

Categories: State

Tom Purcell: Effective wit a dying art in politics

Pittsburgh Tribune-Review - 12 November 2018 - 8:33pm
Among today's most regrettable trends is the dying art of effective humor and satire in politics. During 1984's second debate between President Reagan and Democratic ...
Categories: State

Delek Logistics Partners, LP to Participate in the RBC Capital Markets’ Midstream Conference

Oil - 12 November 2018 - 7:15pm

BRENTWOOD, Tenn., Nov. 12, 2018 (GLOBE NEWSWIRE) -- Delek Logistics Partners, LP (NYSE: DKL) today announced that members of management will participate in the RBC Capital Markets’ Midstream Conference in Dallas, Texas on Tuesday, November 13, 2018.

A copy of Delek Logistics’ latest investor presentation will be provided at the conference.  An electronic copy of this presentation is currently available in the “Investors” section of the Delek Logistics website at www.deleklogistics.com.

About Delek Logistics Partners, LP
Delek Logistics Partners, LP, headquartered in Brentwood, Tennessee, was formed by Delek US Holdings, Inc. (NYSE: DK) to own, operate, acquire and construct crude oil and refined products logistics and marketing assets.

Investor Relations Contact:
Keith Johnson
Vice President of Investor Relations
615-435-1366

Media/Public Affairs Contact:
Michael P. Ralsky
Vice President - Government Affairs, Public Affairs & Communications
615-435-1407

Categories: State

InPlay Oil Corp. Announces Record Third Quarter 2018 Financial and Operating Results

Oil - 12 November 2018 - 7:12pm

CALGARY, Alberta, Nov. 12, 2018 (GLOBE NEWSWIRE) -- InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) announces its financial and operating results for the three and nine months ended September 30, 2018.  InPlay’s condensed unaudited interim financial statements and notes, as well as management’s discussion and analysis (“MD&A”) for the three and nine months ended September 30, 2018 will be available on the System for Electronic Document Analysis and Retrieval (“SEDAR”) and our website (“www.inplayoil.com”).

We are pleased to present InPlay’s financial and operating results for the three and nine months ended September 30, 2018 with results in excess of forecast and record quarterly production, revenue and cashflow.

Q3 2018 Financial & Operating Highlights

  • Successfully closed the non-core asset disposition on October 1, 2018 (announced September 13, 2018) disposing approximately 250 boe/d (72% oil and liquids) for cash consideration of $16.7 million prior to adjustments.  This rationalization of assets at premium valuation metrics allows us to redeploy the proceeds towards our high rate of return Willesden Green Cardium drilling inventory.
     
  • Achieved record quarterly production of 4,773 boe/d, a 17% increase compared to the third quarter of 2017, resulting in average production of 4,529 boe/d for the first nine months of 2018, a 16% increase compared to the first nine months of 2017.  Total oil and liquids weighting also increased to 70% entirely attributable to light oil growth over the same respective periods.
     
  • Light oil production averaged 2,695 bbl/day for the nine months ended September 30, 2018, a 20% increase compared to the first nine months of 2017 and light oil and liquids production averaged 3,160 bbl/day for the nine months ended September 30, 2018, a 22% increase over the same respective period of 2017 reflecting the focused development of our light oil weighted Cardium assets.
     
  • Generated revenues of $22.8 million, an increase of 57% from the third quarter of 2017 (96% derived from light oil and liquids).  Light oil revenues in the third quarter increased 64% over the third quarter of 2017 to $19.7 million.
     
  • Operating costs per boe of $15.62 decreased 11% compared to the third quarter of 2017 and 10% compared to the second quarter of 2018.
     
  • Operating income of $13.0 million, represents a 110% increase over the third quarter of 2017 with a corresponding 80% increase in operating netback to $29.51 per boe over the same respective period.
     
  • Generated adjusted funds flow from operations of $10.0 million or $0.15 per basic share which includes $0.8 million in realized losses on commodity derivative contracts, representing a 115% increase over the third quarter of 2017 and a 36% increase over the second quarter of 2018. 
     
  • Net Debt/Annualized Adjusted funds flow from operations improved to 1.6 times from 2.3 times for the third quarter of 2017 and 2.0 times for the second quarter of 2018.

Financial and Operating Results

(CDN) ($000’s) (except per share figures) Three months ended
September 30
 Nine months ended
September 30
  2018 2017 2018 2017 Financial (CDN$)    Oil and natural gas sales22,801 14,489 63,703 44,222 Adjusted funds flow from operations(1)10,006 4,662 25,320 16,930 Per share – basic and diluted0.15 0.08 0.37 0.27 Per boe22.79 12.40 20.48 15.90 Net (Loss)(1,775)(2,228)(710)(761)Per share – basic and diluted(0.03)(0.04)(0.01)(0.01)Exploration and Development Capital expenditures17,376 8,292 43,252 22,231 Net Property Acquisitions (Dispositions)(26)- (4,164)1,220 (Net Debt)(1)(66,005)(41,950)(66,005)(41,950)Shares outstanding67,886,619 62,053,569 67,886,619 62,053,569 Basic weighted-average shares67,886,619 62,084,852 67,886,619 62,288,164 Diluted weighted-average shares67,886,619 62,084,852 67,886,619 62,288,164      Operational    Daily production volumes    Crude oil (bbls/d)2,775 2,403 2,695 2,245 Natural gas liquids (bbls/d)541 381 465 346 Natural gas (Mcf/d)8,738 7,820 8,218 7,854 Total (boe/d)4,773 4,087 4,529 3,900 Realized prices    Crude Oil & NGLs ($/bbls)71.48 51.31 70.00 54.86 Natural gas ($/Mcf)1.23 1.87 1.48 2.52 Total ($/boe)51.93 38.53 51.52 41.53 Operating netbacks ($ per boe)(1)    Oil and Gas sales51.93 38.53 51.52 41.53 Royalties(6.03)(4.01)(5.57)(4.23)Transportation expense(0.77)(0.55)(0.77)(0.66)Operating costs(15.62)(17.60)(16.30)(16.36)Operating Netback (prior to realized derivative contracts)29.51 16.37 28.88 20.28 Realized gain (loss) on derivative contracts(1.75)1.10 (3.08)0.90 Operating Netback (including realized derivative contracts)27.76 17.47 25.80 21.18 


(1) “Adjusted funds flow from operations”, “Net Debt”, “Operating netback per boe” and “Operating netback” do not have a standardized meaning under international financial reporting standards (“IFRS”) and GAAP and therefore may not be comparable with the calculations of similar measures for other companies.  “Adjusted funds flow from operations” adjusts for decommissioning obligation expenditures and net change in operating non-cash working capital from net cash flow provided by operating activities.  Please refer to Non-GAAP Financial Measures and Oil and Gas Metrics and BOE equivalent at the end of this news release and the Company’s MD&A.    

Third Quarter 2018 Capital & Operational Program

InPlay’s capital program over the third quarter of 2018 saw a continued focus on our Willesden Green bioturbated Cardium assets where we have delivered exceptional results with wells consistently exceeding internal type curves and delivering some of the best Cardium production results in the area.  Our continuous drilling program is delivering peer leading capital efficiencies as we have achieved some of the shortest spud to rig release drilling days for extended reach horizontal (“ERH”) wells seen to date.  Our most recent six 1.5 mile ERH wells have averaged 9.7 drilling days with the last two wells averaging nine drilling days which to date are pacesetters in the area.  Of equal importance is the consistency in our drilling performance where the maximum deviation from average drilling time of the six 1.5 mile ERH wells has been +/- 0.7 days.   The 1.5 mile extended reach horizontal Cardium wells have allowed us to access approximately 60% more reservoir while incurring approximately only 20% more in additional capital expenditures compared to a one mile horizontal well.

InPlay’s capital program of $17.4 million for the third quarter of 2018 continued to focus on the development of the Willesden Green bioturbated Cardium where we completed two (2.0 net) ERH wells that were drilled in the second quarter and we drilled an additional five (3.3 net) ERH wells of which three (1.3 net) were completed in the third quarter and two (2.0 net) were completed early in the fourth quarter. Over the first nine months of 2018, InPlay has drilled an equivalent of 18.5 gross horizontal miles (13.3 net horizontal miles) in Willesden Green. The two recent ERH wells completed and brought on production early October have been flowing to date at an average choked rate of 520 boe/d (87% light oil and liquids) per well  and have continued to clean up with current average production per well of 652 boe/d (82% light oil and liquids).  We expect the production from these wells to remain fairly stable flowing at choked rates for 2-3 months.

Outlook

Results to date from our drilling program continue to exceed our internally forecasted type curves and, even with the non-core asset disposition on October 1, 2018 of approximately 250 boe/day, we remain on track to exceed our recently increased production guidance delivering top tier production growth amongst light oil peers.

Forward West Texas Intermediate (“WTI”) pricing for the remainder of the year is in the $60 - $65 per bbl range.  Light Sweet Edmonton pricing, however, started to experience weakness beginning in September with higher differentials than normal to WTI.  These increased differentials occurred as a result of extended refinery turnarounds in the Midwest USA, increased oil supplies and transportation infrastructure restrictions.  We expect these higher differentials to persist throughout the fourth quarter of 2018.  Although this negative pricing environment could continue into 2019 we do see this as a temporary situation which is anticipated to return to more normalized levels in the New Year.

The Willesden Green area is where InPlay will deploy the majority of the remaining budgeted development capital in the fourth quarter of 2018 on the completions of the two (2.0 net) wells that were drilled at the end of the third quarter and on drilling an additional three (2.2 net) ERH wells.  InPlay has elected to defer the completion of two (2.0 net) ERH wells, originally scheduled to be on production in mid-November, until the first quarter of 2019 when improved light oil differentials are anticipated.  Despite the delay of production from these two (2.0 net) deferred wells, we still expect to exceed our average annual production guidance of 4,600 boe/day (71% oil and liquids). Field production estimates are currently over 5,350 boe/d (72% oil and liquids) exceeding our year end exit forecast of 5,100 to 5,200 boe/day (72% oil and liquids) as our recent new drills are significantly exceeding forecasted production.  To further assist in managing the current higher light oil differentials we plan to manage light oil inventory levels at our facilities over the next few months in order to sell this oil in what we believe should be an improved differential pricing environment in 2019.

We also plan to drill one vertical stratigraphic well on our northern East Basin Duvernay lands to continue the surrounding Crown lands for an additional five years and satisfy the Company’s remaining flow-through share obligations. Our plans are still to develop our Huxley Duvernay lands at a measured pace as we continue to closely monitor the significant amount of offsetting competitor activity that is in proximity to InPlay’s lands.

Our Willesden Green Cardium and East Basin Duvernay assets have InPlay established in one of the most economic horizontal development light oil plays as well as one of the most exciting emerging light oil plays in the Western Canadian Sedimentary Basin. The Company is positioned to be one of the highest growth junior light oil focused companies which currently has 70% of production and 96% of total revenues derived from oil and liquids.  We are excited about InPlay’s near-term growth and development potential given these high quality assets in the Cardium and East Basin Duvernay plays. Plans are to continue to deploy capital towards our high rate of return assets and given our financial flexibility, we expect to be able to deliver sustainable light oil production per-share growth for our shareholders.

We thank our employees and directors for their ongoing commitment and dedication and we thank all of our shareholders for their continued interest and support.  We are excited about the strong operational results we have achieved to date and we look forward to reporting upcoming results from our ongoing development program.

For further information please contact:

Doug Bartole
President and Chief Executive Officer
InPlay Oil Corp.
Telephone: (587) 955-0632 Darren Dittmer
Chief Financial Officer
InPlay Oil Corp.
Telephone: (587) 955-0634
   

Reader Advisories

Non-GAAP Financial Measures and Oil and Gas Metrics
InPlay uses certain terms within this news release that do not have a standardized prescribed meaning under IFRS and GAAP and therefore these measurements may not be comparable with the calculation of similar measurements of other entities.  The terms “Adjusted funds flow from operations”, “Adjusted funds flow from operations per share”, “Adjusted funds flow from operations per boe”, “operating netbacks” , “and operating netback per boe”, “operating income”, “net debt” and “working capital (deficit)” used in this news release are not recognized measures under GAAP. Management believes that in addition to net earnings (loss) and cash flow provided by operating activities as defined by GAAP, these terms are useful supplemental measures to evaluate operating performance as it demonstrates the Company’s field level of profitability relative to current commodity prices and to assess leverage. “Adjusted funds flow from operations” should not be considered as an alternative to or more meaningful than cashflow provided by operating activities as determined in accordance with GAAP as an indicator of the Company’s performance.  InPlay’s determination of adjusted funds flow from operations may not be comparable to that reported by other companies. Adjusted funds flow from operations is calculated by adjusting for changes in operating non-cash working capital and decommissioning expenditures from cash flow provided by operating activities.  These items are adjusted from cash flow provided by operating activities as these expenditures are primarily incurred on previous operating assets and there is uncertainty with the timing and payment of these items and they are incurred on a discretionary basis making them less useful in the evaluation of InPlay’s operating performance.  Adjusted funds flow from operations per share is calculated using the same weighted average number of shares outstanding used in calculating earnings per share.  Users are cautioned, however, that these measures should not be construed as an alternative to net earnings or cash flow provided by operating activities determined in accordance with GAAP as an indication of InPlay’s performance.  For a detailed description of InPlay’s method of the calculation of adjusted funds flow from operations and its reconciliation to GAAP terms, see “Non-GAAP Measures” in the Company’s MD&A filed on Sedar.  The term “net debt” is not recognized under GAAP and is calculated as bank debt plus working capital deficit.  Working Capital (deficit) is calculated as current assets less current liabilities adjusted for risk management derivative contract fair values, deferred lease credits, flow-through share premiums and current portion of decommissioning obligation.  Net debt is used by management to analyze the financial position and leverage of InPlay. InPlay monitors working capital and net debt as part of its capital structure.  Such terms do not have a standardized meaning prescribed by GAAP and, therefore, may not be comparable with the calculation of similar measures for other entities. InPlay also uses “operating netback” and “operating netback per boe” as a key performance indicator. Operating netback per boe is utilized by InPlay to evaluate the operating performance of its petroleum and natural gas assets, and is determined by deducting royalties and operating and transportation expenses from petroleum and natural gas revenue (all on a per boe basis).  Operating Income provides the total income provided by operating activities over the period and is determined by deducting royalties and operating and transportation expenses from petroleum and natural gas revenue

Management uses oil and gas metrics for its own internal planning and performance measurements and to provide shareholders with measures to compare InPlay's operations over time.  Readers are cautioned that the information provided by these metrics, or that can be derived from the metrics presented in this press release, should not be relied upon for investment or other purposes. Test results and initial or short term production rates disclosed in this news release may not necessarily be indicative of long term performance of wells or ultimate recoveries.

Forward-Looking Information and Statements
This news release contains certain forward–looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" “forecast” and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this news release contains forward-looking information and statements pertaining to the following: the volume and product mix of InPlay's oil and gas production; production estimates including third quarter 2018, 2018 average and exit forecasts, targeted production growth; future oil and natural gas prices and InPlay's commodity risk management programs;  future liquidity and financial capacity; future results from operations and operating metrics including forecasts of operating netbacks, adjusted funds flow, cash flow and net debt ratios; future costs, expenses and royalty rates; future interest costs; the exchange rate between the $US and $Cdn; future development, exploration, acquisition, development and infrastructure activities and related capital expenditures, including our 2018 capital budget and the timing thereof; the number of wells to be drilled, completed and tied-in and the timing thereof; the amount and timing of capital projects; the potential for improved differential pricing in 2019; the resource potential of our Duvernay play; and methods of funding our capital program. Forward-looking statements or information are based on a number of material factors, expectations or assumptions of InPlay which have been used to develop such statements and information but which may prove to be incorrect. Although InPlay believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because InPlay can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: the impact of increasing competition; the general stability of the economic and political environment in which InPlay operates; the timely receipt of any required regulatory approvals; the ability of InPlay to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of the operator of the projects in which InPlay has an interest in to operate the field in a safe, efficient and effective manner; the ability of InPlay to obtain financing on acceptable terms; field production rates and decline rates; the ability to replace and expand oil and natural gas reserves through acquisition, development and exploration; the timing and cost of pipeline, storage and facility construction and the ability of InPlay to secure adequate product transportation; future commodity prices; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which InPlay operates; the ability of InPlay to successfully market its oil and natural gas products.   

The forward-looking information and statements included herein are not guarantees of future performance and should not be unduly relied upon. Such information and statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results or events to defer materially from those anticipated in such forward-looking information or statements including, without limitation: changes in commodity prices and differentials; the potential for variation in the quality of the reservoirs in which we operate; changes in the demand for or supply of our products; unanticipated operating results or production declines; changes in tax or environmental laws, royalty rates or other regulatory matters; changes in development plans of InPlay or by third party operators of our properties, increased debt levels or debt service requirements; inaccurate estimation of our oil and gas reserve and resource volumes; limited, unfavorable or a lack of access to capital markets; increased costs; a lack of adequate insurance coverage; the impact of competitors; and certain other risks detailed from time-to-time in InPlay's  disclosure documents. The forward-looking information and statements contained in this news release speak only as of the date hereof and InPlay does not assume any obligation to publicly update or revise any of the included forward-looking statements or information, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

BOE equivalent
Barrel of oil equivalents or BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different than the energy equivalency of 6:1, utilizing a 6:1 conversion basis may be misleading as an indication of value. 

Categories: State

Targa Resources Corp. to Participate in RBC Capital Markets Midstream Conference

Oil - 12 November 2018 - 6:48pm

HOUSTON, Nov. 12, 2018 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that representatives from the Company will participate in investor meetings at the RBC Capital Markets Midstream Conference on Wednesday, November 14, 2018 in Dallas, Texas.

A copy of the slides used for the conference meetings will be available in the Investors section of the Company's website at www.targaresources.com, or by going to http://ir.targaresources.com/trc/events.cfm.

About Targa Resources Corp.

Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream energy companies in North America. Targa owns, operates, acquires, and develops a diversified portfolio of complementary midstream energy assets. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, and selling natural gas; storing, fractionating, treating, transporting, and selling NGLs and NGL products, including services to LPG exporters; gathering, storing, terminaling, and selling crude oil; storing, terminaling, and selling refined petroleum products.

For more information, please visit the Company’s website at www.targaresources.com.

Forward-Looking Statements

Certain statements in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside the Company’s control, which could cause results to differ materially from those expected by management of the Company. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the timing and success of business development efforts; and other uncertainties. These and other applicable uncertainties, factors and risks are described more fully in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2017, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company does not undertake an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact the Company's investor relations department by email at InvestorRelations@targaresources.com or by phone at (713) 584-1133.

Sanjay Lad
Director - Investor Relations

Jennifer Kneale
Chief Financial Officer

 

Categories: State

Editorial: Support for suspended chief not endless

Pittsburgh Tribune-Review - 12 November 2018 - 6:33pm
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Sometimes there is only so much support a person can get. Mike Diebold appears to have reached the bottom of that well. When the Leechburg ...
Categories: State

Denbury Resources to Present at Bank of America Merrill Lynch 2018 Global Energy Conference

Oil - 12 November 2018 - 6:30pm

PLANO, Texas, Nov. 12, 2018 (GLOBE NEWSWIRE) -- Denbury Resources Inc. (NYSE: DNR) (“Denbury” or the “Company”) today announced that Chris Kendall, President and Chief Executive Officer, will present at the Bank of America Merrill Lynch 2018 Global Energy Conference on Thursday, November 15, 2018, at 9:45 a.m. Eastern Time.  An updated corporate presentation for the conference and a link to the live webcast of the presentation will be available in the investor relations section of the Company’s website at www.denbury.com.

Denbury is an independent oil and natural gas company with operations focused in two key operating areas: the Gulf Coast and Rocky Mountain regions.  The Company’s goal is to increase the value of its properties through a combination of exploitation, drilling and proven engineering extraction practices, with the most significant emphasis relating to CO2 enhanced oil recovery operations.  For more information about Denbury, please visit www.denbury.com.

CONTACT: DENBURY CONTACTS: Mark C. Allen, Executive Vice President and Chief Financial Officer, 972.673.2000 John Mayer, Director of Investor Relations, 972.673.2383
Categories: State

Scott Rasmussen: The election's over — now what?

Pittsburgh Tribune-Review - 12 November 2018 - 6:03pm
Senate Majority Leader Mitch McConnell" src = "https://triblive.com/rss/photos/?STREAMOID=4bNmPNlwbozH2GKpAZsSfc$daE2N3K4ZzOUsqbU5sYvlt5ObphQlxNgivhFRN9YiWCsjLu883Ygn4B49Lvm9bPe2QeMKQdVeZmXF$9l$4uCZ8QDXhaHEp3rvzXRJFdy0KqPHLoMevcTLo3h8xh70Y6N_U_CryOsw6FTOdKL_jpQ-&CONTENTTYPE=image/jpeg">
It was almost unsettling to wake up the morning after the election and realize it turned out pretty much as we expected. There were, of ...
Categories: State

Tim Minard, CEO of Atlanta-based Eclipse Gaming Lays Wreath at Tomb of the Unknowns During National Veterans Day Observance in Washington

Recreation - 12 November 2018 - 5:01pm

DULUTH, Ga., Nov. 12, 2018 (GLOBE NEWSWIRE) -- To help mark the 65th annual National Veterans Day Observance and the 100th anniversary of Armistice Day, Tim Minard, Chief Executive Officer of Eclipse Gaming, laid a wreath at the Tomb of the Unknown Soldier in Arlington National Cemetery during the national ceremony on Sunday, November 11, 2018. 

Mr. Minard participated in the ceremony as a guest and representative of BVL (The Bowlers to Veterans Link), a seventy-six-year-old national nonprofit organization dedicated to brightening the lives of America’s veterans and active duty men and women through recreational and therapeutic programs. 

The ceremony, which honors those who served in the United States Armed Forces was led by Veterans Affairs Secretary Robert Wilkie, who commemorated the ceremony with a moving keynote speech. Also, in attendance at the ceremony was Defense Secretary Jim Mattis, Labor Secretary Alexander Acosta, Department of Homeland Security Secretary Kirstjen Nielsen, acting Attorney General Matthew Whitaker, and House Minority Leader Nancy Pelosi. As part of the weekend-long trip, Minard visited the White House and then the National Press Club for breakfast prior to the ceremony at the Memorial Amphitheater at Arlington.

“This was a tremendous experience,” noted Tim Minard, CEO of Eclipse Gaming. “I believe deeply in BVL’s mission to support our veterans and active duty service personnel and am grateful to have been chosen to represent this inspiring organization as we honored and paid our respects to those who have served our country in the Armed Forces.”

About Eclipse Gaming

Eclipse Gaming is a leading supplier of innovative games and systems for the global gaming industry. The company operates primarily in the Native American gaming markets in the U.S., as well as select commercial and international jurisdictions. Eclipse Gaming designs, manufactures and markets top performing games, local, mystery and multi-level progressives, and slot management systems. For more information, visit www.eclipsegamingsystems.com.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a18fdcc0-e68a-490a-a095-1105d63249a6

CONTACT: For Further Information       Gina Lanphear, Vice President, Marketing Eclipse Gaming T:  470.554.7541 gina.lanphear@eclipsegamingsystems.com www.eclipsegamingsystems.com
Categories: State

TransAtlantic Petroleum Announces Release Date of Third Quarter 2018 Results

Oil - 12 November 2018 - 5:01pm

HAMILTON, Bermuda, Nov. 12, 2018 (GLOBE NEWSWIRE) -- TransAtlantic Petroleum Ltd. (TSX: TNP) (NYSE American: TAT) (the “Company” or “TransAtlantic”) today announced that it expects to issue its earnings release and file its Quarterly Report on Form 10-Q for the third quarter of 2018 after the market closes on Wednesday, November 14, 2018.

Third Quarter 2018 Conference Call

The Company will host a live webcast and conference call on Thursday, November 15, 2018 at 7:30 a.m. Central time (8:30 a.m. Eastern time) to discuss third quarter 2018 financial results and provide an operations update. Investors who would like to participate in the conference call should call (877) 878-2762 or (678) 809-1005 approximately 10 minutes prior to the scheduled start time and ask for the TransAtlantic conference call. The conference ID is 3068338.

A live webcast of the conference call and replay will be available through the Company’s website at www.transatlanticpetroleum.com. To access the webcast and replay, click on “Investors,” select “Events and Presentations,” and click on “Listen to webcast” under the event list. The webcast requires IOS, Microsoft Windows Media Player, or RealOne Player.

A telephonic replay of the call will be available through November 17, 2018 and may be accessed by dialing (855) 859-2056 or (404) 537-3406. The conference ID is 3068338.

About TransAtlantic

The Company is an international oil and natural gas company engaged in the acquisition, exploration, development, and production of oil and natural gas. The Company holds interests in developed and undeveloped properties in Turkey and Bulgaria.

(NO STOCK EXCHANGE, SECURITIES COMMISSION, OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.)

Forward-Looking Statements

This news release contains statements concerning the issuance of an earnings release, the filing of the Company’s Quarterly Report on Form 10-Q, as well as other expectations, plans, goals, objectives, assumptions, and information about future events, conditions, results of operations, and performance that may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect.

Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates, and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by the Company and described in the forward-looking statements or information. These risks and uncertainties include, but are not limited to, access to sufficient capital; market prices for natural gas, natural gas liquids, and oil products; estimates of reserves and economic assumptions; the ability to produce and transport natural gas, natural gas liquids, and oil products; the results of exploration and development drilling and related activities; economic conditions in the countries and provinces in which the Company carries on business, especially economic slowdowns; actions by governmental authorities; receipt of required approvals; increases in taxes; legislative and regulatory initiatives relating to fracture stimulation activities; changes in environmental and other regulations; renegotiations of contracts; political uncertainty, including actions by insurgent groups or other conflict; outcomes of litigation; the negotiation and closing of material contracts; and other risks described in the Company’s filings with the Securities and Exchange Commission.

The forward-looking statements or information contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events, or otherwise, unless so required by applicable securities laws.

Contacts:       

Chad D. Burkhardt
Vice President, General Counsel, and Corporate Secretary
(214) 265-4705
TransAtlantic Petroleum Ltd.
16803 Dallas Parkway
Addison, Texas 75001
http://www.transatlanticpetroleum.com

Categories: State

VivoPower International PLC Reports Unaudited Financial Results For the Six Months Ended September 30, 2018

Oil - 12 November 2018 - 4:38pm

LONDON, United Kingdom, Nov. 12, 2018 (GLOBE NEWSWIRE) -- VivoPower International PLC (Nasdaq: VVPR) (“VivoPower” or the “Company”), an international solar power company, today announced its results for the six months ended September 30, 2018.

Highlights

  • Total revenue for the six months ended September 30, 2018 was $18.5 million, an increase of 14.0%, as compared to $16.2 million for the six months ended September 30, 2017.
     
  • Revenue from the Company’s power services businesses for the six months ended September 30, 2018 was $17.4 million, an increase of 20.5% over the prior year reflecting the strong market dynamics in the industrial regions of Australia, as well as the Company’s aggressive push into new geographies within Australia and solar engineering, procurement, and construction (“EPC”) markets.
     
  • Gross profit attributable to power services was $2.5 million for the six months ended September 30, 2018, which represents a gross margin of 14.6%, up from 13.6% for the full year ended March 31, 2018, and 14.0% for the six months ended September 30, 2017.
     
  • Unrestricted cash resources increased to $3.1 million as at September 30, 2018, compared to $1.9 million as at March 31, 2018.
     
  • Total debt as at September 30, 2018, was $20.9 million, down from $22.3 million as at March 31, 2018.
     
  • On July 3, 2018, the Company successfully completed the sale of its minority equity interests in its two North Carolina solar investments, NC-31 and NC-47 (together, the “NC Projects”) for net proceeds of $11.5 million.
     
  • Net assets of our joint venture with Innovative Solar Systems, LLC, (“ISS Joint Venture”) of $12.9 million has been reclassified to assets held for sale as the Company aggressively pursues its strategic review, which has resulted in multiple prospective investors submitting proposals to acquire all or a portion of the joint venture.
     
  • Power services subsidiary, Kenshaw Electrical Pty Limited (“Kenshaw”) has significantly expanded its power services activities with one of Australia’s leading data center groups, Canberra Data Centres (“CDC”). Kenshaw’s strong track record with CDC for the supply and installation of power generators has resulted in a record volume of new contracts worth US$24.2 million. As a result of this increased business, Kenshaw has also announced the opening of a new office in Canberra to support CDC, as well other customers and emerging business opportunities in the region. The superior reliability and resilience of onsite power generators and recycled water, provided in part, by the power generators supplied by Kenshaw, and has helped CDC to become the largest provider of data storage to the Australian government.
     
  • Power services subsidiary, J.A. Martin Electrical Pty Limited, was successful in securing a high-visibility EPC contract for the 3.6 megawatts (“MW”) Cubbie Solar Project in Queensland, Australia, which will produce electricity to the largest irrigation property in the southern hemisphere. The project is the first phase of a longer-term plan to expand to 7.2 MW and will also include battery storage.
     
  • We made excellent progress with the 50 MW development portfolio of utility-scale solar projects in New South Wales, Australia, and have completed the development milestones for the first 15 MW phase, which we expect to commence construction by the end of June 2019.
     
  • In light of the potential sale of the ISS Joint Venture, the Company has recommitted to its strategic focus on the strong growth profile of the solar power generation market in the United States, particularly the higher margin profile of small utility and commercial and industrial (“C&I”) sectors, consistent with the Company’s current solar development activities in Australia. This shift may be accomplished through organic growth or consolidation of smaller players in the highly fractured C&I market within North America.


Conference Call Information

The Company will hold a conference call 5 p.m. EST time on Monday, November 12, 2018, to discuss the Company’s first half 2018 results and business outlook. The dial-in phone number for the live audio call is:

United Kingdom:                  +44 (0)330 336 9411
United States:                      +1 929 477 0402
Australia:                              +61 (0)2 9193 3761

Conference Code:             5586416

A live webcast of the conference call will be available at https://edge.media-server.com/m6/p/dpwy4jet and on the investor relations section of the VivoPower website at www.vivopower.com.

A replay of the webcast will be available two hours after the conclusion of the call until November 12, 2019. The webcast replay will also be available on the VivoPower website at www.vivopower.com.

About VivoPower International PLC

VivoPower is an international solar power producer that develops, owns and operates PV solar projects in a capital efficient manner. VivoPower partners with long-term investors, suppliers and developers to accelerate the growth of its portfolio of solar projects. In addition, the Company provides critical energy infrastructure solutions to commercial and industrial customers throughout Australia.

Forward-Looking Statements

This communication includes certain statements that may constitute “forward-looking statements” for purposes of the U.S. federal securities laws.  Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions.  The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.  Forward-looking statements may include, for example, statements about the benefits of the events or transactions described in this communication and the expected returns therefrom. These statements are based on VivoPower’s management’s current expectations or beliefs and are subject to risk, uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of VivoPower’s business. These risks, uncertainties and contingencies include changes in business conditions, fluctuations in customer demand, changes in accounting interpretations, management of rapid growth, intensity of competition from other providers of products and services, changes in general economic conditions, geopolitical events and regulatory changes and other factors set forth in VivoPower’s filings with the United States Securities and Exchange Commission. The information set forth herein should be read in light of such risks. VivoPower is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements whether as a result of new information, future events, changes in assumptions or otherwise.

CONTACT: Contact:  Julie-Anne Byrne Investor Relations shareholders@vivopower.com
Categories: State

Nutritional High Completes Sale and Leaseback of Equipment at Its La Pine Oregon Facility

Recreation - 12 November 2018 - 4:15pm

TORONTO, Nov. 12, 2018 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (“Nutritional High” or the “Company”) (CSE: EAT, OTCQB: SPLIF, FRANKFURT: 2NU) is pleased to announce that it has completed a sale and leaseback financing of certain equipment located at its La Pine, Oregon facility (the “Equipment”) for gross proceeds of $438,407 USD to Veterans Capital Fund II, LP (the “Buyer” or “Veterans”). In addition, Nutritional High issued 156,574 common share purchase warrants (each, a “Warrant”) to the Buyer. Each Warrant entitles the Buyer to purchase one common share in the capital of the Company (a “Common Share”) at a price of $0.70 CDN per Common Shares for a period of 24 months from the date of issuance. The Equipment sold by the Company to the Buyer comprises substantially all of the equipment used by Nutritional High at the La Pine facility.

Pursuant to the agreement with the Buyer, the Company will continue to utilize the Equipment to process a wide range of products under its FLI brand, including its vape cartridges, syringes, and dab. Nutritional High will roll out FLI-branded cannabis-infused edibles including chocolate bars, shots, additional syringe offerings and other innovative products (collectively, the “FLI Edibles”). The FLI Edibles are expected to roll out in Q1 of 2019. The Company has successfully completed the first batch production for laboratory testing through the cold ethanol extraction equipment.

Located in the City of La Pine, 30 miles from scenic Bend, Oregon, the facility is comprised of three contiguous parcels of land totaling and aggregate of 18,295 square feet (0.42 acres) with 4,662 square feet of manufacturing and office space and 540 square feet of mezzanine storage space. Nutritional High completed the facility build-out and was granted a Marijuana Processor License for the facility by the Oregon Liquor Control Commission in early September 2018. With the expansion and development of the facility, the Company is well situated to serve the Portland market as well as smaller centers across the state.

Jim Frazier, CEO of Nutritional High, commented, “The leaseback gives us the flexibility and additional capital to better serve the La Pine Facility, as well as other Nutritional High operations, potential investments and partnerships as the Company grows. We are very excited about the development and production in Oregon and look forward to introducing our flagship FLI-branded products into the state in November."

About Nutritional High International Inc.

Nutritional High is focused on developing, manufacturing and distributing products under recognized brands in the cannabis products industry, with a specific focus on edibles and oil extracts for medical and adult recreational use. The Company works exclusively with licensed facilities in jurisdictions where such activity is permitted and regulated by state law.

The Company follows a vertically integrated model with a fully developed strategy for acquisitions in extraction, production, sales, and distribution sectors of the cannabis industry. Nutritional High has brought its flagship FLÏ™ edibles and extracts product line from production to market through its wholly owned subsidiaries in California and Oregon, as well as Colorado where its FLÏ™ products are manufactured by a third-party licensed producer. In California, the Company distributes its products and products manufactured by other leading producers through its wholly owned distributor Calyx Brands Inc. and is entering the Nevada, Washington State and Canadian markets in the near future.

For updates on the Company’s activities and highlights of the Company’s press releases and other media coverage, please follow Nutritional High on Facebook, Twitter, Instagram and Google+ or visit www.nutritionalhigh.com.

About Veterans Capital Fund II, LP

Veterans Capital Fund II, LP is designed to give sophisticated investors above average returns secured by income producing assets of early stage and emerging growth companies nationwide. Since 2007, Veterans have invested millions of dollars in a successful investment model called “Venture Lease” transactions. The fund’s overall objective is to provide investors with the potential of a high-end yield over the investment period and investing in companies who are creating jobs and building a better world for all of us to live in.

For further information, please contact:

David Posner
Co-Chairman of the Board
Nutritional High International Inc.
647-985-6727
Email: dposner@nutritionalhigh.com

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The statements relate to potential market expansion and the use of the proceeds of the Offering.  Risks that may have an impact on the ability for these events to be achieved include completion of due diligence, negotiation of definitive agreements and receipt of applicable approvals.  Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.

The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. 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 the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.

Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. Some of the risks and other factors that could cause actual results to differ materially from those expressed in forward-looking information expressed in this press release include, but are not limited to: obtaining and maintaining regulatory approvals including acquiring and renewing U.S. state, local or other licenses, the uncertainty of existing protection from U.S. federal or other prosecution, regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, market and general economic conditions of the cannabis sector or otherwise.

Categories: State
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