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Category: Energy

  • MIL-OSI Australia: MEDIA RELEASE: Aeris Resources’ André Labuschagne joins AREEA Board of Directors

    Source:

    The Australian Resources & Energy Employer Association (AREEA) is pleased to announce André Labuschagne, Executive Chairman of Aeris Resources, has joined its Board of Directors.

    Mr Labuschagne is an experienced mining executive, carving out a 35-year career primarily in the gold and copper industry.

    He has held various executive roles in South Africa, PNG, Fiji and Australia for leading gold companies including Emperor Gold Mines, DRD Gold and AngloGold Ashanti.

    As the former managing director of Norton Gold Fields Limited, Mr Labuschagne led the ASX-lister’s evolution into a significant Australian gold producer before its sale to a major Chinese gold company in 2012.

    AREEA Chief Executive Steve Knott AM said Mr Labuschagne would be a strong addition to the national employer group’s Board of Directors.

    “André is a hands-on leader whose strategic thinking, inclusive approach and decisiveness have not only contributed to successful corporate transactions but stood at the heart of building great teams and companies,” Mr Knott said.

    “His executive and operational skills – and long record of bringing value to businesses – will be of great benefit to AREEA’s membership.”

    About AREEA’s Board

    AREEA is the largest and most diverse national employer group for the Australian resources and energy industry.

    Its members include employers in hard rock and critical minerals mining, oil and gas, coal, smelting, refining, transport, logistics, engineering and all other supply and servicing sectors.

    As of July 2025, the AREEA Board comprises:

    • Julie Fallon (AREEA President), Executive Vice President Technical and Energy Development, Woodside Energy Limited
    • Tom Quinn (AREEA Vice President), Non-Executive Director, pitt&sherry, and Vast
    • Jo Taylor, (AREEA Vice President), Managing Director, Compass Group Australia
    • Johnpaul Dimech, Zone President APMEA, Brazil and LatAm; Region CEO, APMEA, Sodexo
    • André Labuschagne, Executive Chairman, Aeris Resources
    • Mark Norwell, Managing Director & CEO, Perenti
    • Bill Townsend, Senior Vice President Corporate, INPEX
    • Simon Younger, Chair, ExxonMobil Australia

    MIL OSI News –

  • MIL-OSI Asia-Pac: Taipower Holds 2025 Annual Shareholders’ Meeting: Continues Strengthening Financial Operations, Calls for Budget Support

    Source: Republic of China Taiwan

    Taipower held its 2025 Annual Shareholders’ Meeting today (June 27), briefing shareholders on its mission to ensure stable power supply for Taiwan while helping the government mitigate the impact of global developments on households and industries in recent years. Taipower noted that despite financial challenges, it sought a total of NT$300 billion in government budget subsidies over the past year, but none were approved by the legislature. To maintain the sustainable operation of Taiwan’s electricity supply, secure the nation’s power needs, and support economic development, Taipower will continue to seek government funding while doing its utmost to improve its own financial operations. Compared with the same period last year, losses from January to May this year have already narrowed by nearly NT$32 billion, a decline of over 50%.

    The 2025 Annual Shareholders’ Meeting was chaired by Taipower Chairman Wen-Sheng Tseng, with President Yao-Ting Wang delivering the 2024 Business Report. During the meeting, shareholders were also briefed on last year’s corporate bond issuance, financial statements, and the approval of its deficit compensation proposal. Additionally, the biennial board member election was conducted during the meeting.

    Taipower explained that the Russia-Ukraine war led to surging fuel prices globally. While other countries substantially raised electricity rates, further fueling inflation, Taipower instead chose to absorb nearly NT$600 billion in electricity costs for households and industries over the past three years to protect livelihoods and cushion inflationary pressures, resulting in significant financial losses. In 2023, Taipower recorded total revenue of NT$871.4 billion and expenditures of NT$912.5 billion, with a pre-tax net loss of NT$41.1 billion. After factoring in tax credits, the net loss remained NT$41.1 billion. As of the end of last year, cumulative losses stood at NT$422.9 billion.

    Taipower stressed that a stable financial footing is crucial to protecting the public’s right to reliable power and supporting social and industrial development. In April this year, the Electricity Price Review Committee decided, in light of global trade tariffs and political-economic conditions, to freeze electricity prices, meaning Taipower continues to bear external cost pressures on behalf of households and businesses. To maintain financial soundness, Taipower has, over the past year, repeatedly sought a total of NT$300 billion in government funding to cover the costs it has absorbed to stabilize power prices, essentially subsidizing electricity for the entire nation, but these proposals have not been approved by the legislature. Taipower hopes for greater understanding and support from all sectors of society.

    In addition to pursuing government subsidies, Taipower is also working to improve its own finances. For electricity price subsidies for schools and social welfare organizations, Taipower has, in accordance with the Electricity Act and the March 2024 resolution of the Electricity Price Review Committee, maintained preferential electricity rates but will reduce its direct subsidies starting this year. Relevant funding will now revert to the respective competent authorities for budgeting, which is expected to increase Taipower’s annual revenue by nearly NT$4 billion. As for subsidized electricity for offshore islands, Taipower has absorbed losses exceeding NT$100 billion to date. Moving forward, Taipower will handle related matters through the national budgeting process under the Offshore Islands Development Act and will actively seek government budget allocations to cover them.

    Furthermore, Taipower has adopted four key strategies to boost revenue and reduce expenses to strengthen its financial foundation: On the power generation and procurement side, it has refined its fuel procurement strategies. On the electricity retailing side, it has expanded green power resale and low-carbon power sales. In transmission and distribution, it has reduced expenditures by adjusting line installation fees and optimizing ancillary services. Furthermore, Taipower is investing in asset revitalization to expand revenue sources, making every effort to reduce losses. From January to May this year, Taipower recorded a loss of NT$28.5 billion, nearly NT$32 billion less than the same period last year, marking a reduction of more than 50%.

    Spokesperson: Vice President Chih-Meng Tsai
    Tel: (02 )2366-6271/0958-749-333
    Email: u910707@taipower.com.tw
    Contact Person: Chief Secretary of Board Secretariat Shou-Fu Cheng
    Tel: (02 )2366-6210/0900-781-357
    Email: u026726@taipower.com.tw

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Republican Energy and Water Development Funding Bill Increases Energy Costs

    Source: United States House of Representatives – Congresswoman Marcy Kaptur (OH-09)

    Despite Heightened Risks, Bill Makes Americans More Vulnerable to Nuclear Threats

    **STATE-BY-STATE FACT SHEET** Republicans Slash Vital Energy Efficiency and Renewable Energy (EERE) Funding for States

    Washington, DC — House Appropriations Committee Republicans today released the draft fiscal year 2026 Energy and Water Development and Related Agencies funding bill, which will be considered in subcommittee tomorrow. The bill raises costs for American households, undermines infrastructure investments, and weakens our national security.

    For 2026, the Energy and Water bill provides $57.3 Billion in discretionary funding. Within that amount, the bill provides $24.1 Billion for nondefense programs, a cut of over $675 Million, or 2.7 percent, below the fiscal year 2025 enacted level, and $33.2 Billion for defense programs, a cut of $91 Million, or 0.3 percent, below the fiscal year 2025 enacted level.

    The legislation:

    • Increases energy costs, jeopardizes energy independence, and hurts United States’ competitiveness by slashing the Department of Energy’s Energy Efficiency and Renewable Energy programs nearly in half, revoking more than $5 Billion from the Department of Energy’s Bipartisan Infrastructure Law resources, and eliminating funding for the Office of Clean Energy Demonstrations.
    • Weakens national security and leaves Americans more vulnerable to nuclear threats by cutting the National Nuclear Security Administration’s Defense Nuclear Nonproliferation account by 17 percent.
    • Abandons commitments to communities to clean up radioactive waste by eliminating funding for the Corps of Engineers’ Formerly Utilized Sites Remedial Action Program and cutting the Department of Energy’s Office of Environmental Management by 9 percent.

    “House Republicans have once again produced a reckless and short-sighted proposal that betrays working families and undermines America’s future. Their FY26 Energy and Water bill would gut the Department of Energy’s clean energy and efficiency programs — slashing investments that lower costs, create good-paying jobs, and protect our national security,” Energy and Water Development and Related Agencies Appropriations Subcommittee Ranking Member Marcy Kaptur (D-OH-09) said. “This bill cedes American leadership in the global energy race to our adversaries like Communist China. It also weakens vital nuclear nonproliferation programs that help keep our country and allies safe. By turning their backs on communities still suffering from the legacy of our early atomic weapons programs, Republicans show how little regard they have for America’s promises. We must invest in our energy independence in perpetuity — not abandon it. I strongly oppose this bill and will continue fighting for policies that uplift our communities and secure our energy future for all the generations to come.”

    “Once again, instead of working to find ways to address the cost-of-living crisis, House Republicans introduced a bill that would make the problem worse,” Appropriations Committee Ranking Member Rosa DeLauro (D-CT-03) said. “Middle class, working class, and vulnerable Americans continue to struggle to pay their bills, but House Republicans’ 2026 Energy and Water funding proposal slashes resources for programs that lower energy costs for families and businesses and eliminates resources that provide clean, affordable, secure energy to households. While President Trump continues to inflame tensions with our adversaries, House Republicans’ bill would leave our country more vulnerable to nuclear threats and yield American leadership of the world’s energy future to China. With this bill, Republicans are failing to confront the climate crisis and putting tens of thousands of good-paying manufacturing jobs at risk. This legislation is an attack on the country’s energy future. Democrats are at the table and ready to pass legislation that actually lowers energy costs for the American people and ensures America leads the global transition to a clean energy economy.”

    A summary of House Republicans’ 2026 Energy and Water Development and Related Agencies funding bill is here. A fact sheet is here. The text of the bill is here. The subcommittee markup will be webcast live and linked on the House Committee on Appropriations website.

    A state-by-state breakdown of the amount of funding House Republicans are trying to slash from the Department of Energy’s Energy Efficiency and Renewable Energy (EERE) programs is here.

    # # #

    MIL OSI USA News –

  • MIL-OSI USA: Republicans Proceed with Bill to Increase Energy Costs and Make Americans More Vulnerable to Nuclear Threats

    Source: United States House of Representatives – Congresswoman Marcy Kaptur (OH-09)

    **STATE-BY-STATE FACT SHEET** Republicans Slash Vital Energy Efficiency and Renewable Energy (EERE) Funding for States

    Washington, DC — During today’s Energy and Water Development and Related Agencies Subcommittee markup of the 2026 funding bill, House Democrats exposed how the bill increases costs for American households, undermines infrastructure investments, and weakens our national security.

    The bill:

    • Increases energy costs, jeopardizes energy independence, and hurts United States’ competitiveness by slashing the Department of Energy’s Energy Efficiency and Renewable Energy programs nearly in half, revoking more than $5 billion from the Department of Energy’s Bipartisan Infrastructure Law resources, and eliminating funding for the Office of Clean Energy Demonstrations.
    • Weakens national security and leaves Americans more vulnerable to nuclear threats by cutting the National Nuclear Security Administration’s Defense Nuclear Nonproliferation account by 17 percent.
    • Abandons commitments to communities to clean up radioactive waste by eliminating funding for the Corps of Engineers’ Formerly Utilized Sites Remedial Action Program and cutting the Department of Energy’s Office of Environmental Management by 9 percent.

    From Energy and Water Development and Related Agencies Appropriations Subcommittee Ranking Member Marcy Kaptur’s (D-OH-09) opening remarks:

    “Sadly, this Republican Energy and Water bill does not meet our nation’s imperative for the future. America must become energy independent in perpetuity. This bill fails to address the cost-of-living crisis and instead will result in higher energy bills for families and businesses. China is investing record levels in energy, but this bill retreats from US global leadership in the future clean energy economy. America can and must do better. America’s future relies on the new age frontiers of energy and water.”

    From Appropriations Committee Ranking Rosa DeLauro’s (D-CT-03) opening remarks:

    “Energy demand is higher than ever and only increasing. Cheap, reliable energy is the basis of a modern economy. We have to increase energy supply or costs will continue to rise for the American people – and we will be dependent on importing energy to meet our goals. Instead of focusing on ways to help lower energy costs, House Republicans are using this bill to further gut critical federal resources and advance their own agenda…I cannot support this bill. Instead of working with Democrats to lower prices and invest in technology that promotes our energy independence, House Republicans are pushing a bill that raises energy costs for families and businesses and eliminates good-paying jobs. We can and must come together to improve this bill to help lower costs and support our country’s energy independence and national security.”

    A summary of the bill is here. A fact sheet is here. The text of the bill is here. Information on Community Project Funding in the bill is here.

    A state-by-state breakdown of the amount of funding House Republicans are trying to slash from the Department of Energy’s Energy Efficiency and Renewable Energy (EERE) programs is here.

    # # #

    MIL OSI USA News –

  • MIL-OSI New Zealand: Feedback sought on national fuel security plan

    Source: New Zealand Government

    The Coalition Government is seeking feedback on a draft Fuel Security Plan that provides a long-term strategy to ensure New Zealanders have reliable access to fuel in times of domestic and global disruption, Associate Energy Minister Shane Jones says.

    “As a small and remote island nation that imports nearly all of its liquid fuels, New Zealand is vulnerable to supply chain shocks beyond its borders,” Mr Jones says.

    “The Government is seeking to improve our fuel resilience and protect our economic wellbeing so our people and businesses can continue to move, work, and grow. New Zealanders are invited to have their say on the plan.”

    The plan builds on findings of the 2025 Fuel Security Study by focusing on four key areas:

    • Strengthening resilience against global supply disruptions
    • Enhancing domestic fuel infrastructure and emergency preparedness
    • Supporting the development of domestic low-carbon fuel alternatives
    • Managing fuel security during the transition to new energy technologies

    “Our recent decision to boost minimum fuel reserves and improve storage locations is prudent given the current global geopolitical environment.

    “Fuel security is not just an energy issue — it’s an issue of economic and national resilience. The consequences of inaction are too great. The Fuel Security Plan was a key plank in the New Zealand First-National Coalition Agreement to safeguard our transport and logistics systems and emergency services from any international or domestic disruption,” Mr Jones says.

    Public submissions are open from 15 July 2025 to 25 August 2025. Feedback can be provided via the MBIE website: https://www.mbie.govt.nz/have-your-say/draft-fuel-security-plan

    MIL OSI New Zealand News –

  • MIL-OSI: Cavvy to Hold Conference Call and Webcast to Discuss Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Not For Distribution to United States News Wire Services or Dissemination in United States

    CALGARY, Alberta, July 14, 2025 (GLOBE NEWSWIRE) — Cavvy Energy Ltd. (“Cavvy” or the “Company”) (TSX:CVVY) will release its financial and operating results for the second quarter 2025, on Tuesday, August 12, 2025, after markets close.

    President & Chief Executive Officer Darcy Reding and Chief Financial Officer Adam Gray will discuss the financial results and company developments on an investor conference call and webcast on Wednesday, August 13, 2025, at 8:30 a.m. MDT / 10:30 a.m. EDT.

    To register to participate via webcast please follow this link:

    https://edge.media-server.com/mmc/p/iyksgwmj

    Alternatively, to register to participate by telephone please follow this link:

    https://register-conf.media-server.com/register/BI38015d898a634532b5e63d29d3cae388

    A replay of the webcast will be available two hours after the conclusion of the event and may be accessed using the webcast link above.

    About Cavvy Energy
    Cavvy Energy is a Canadian energy company headquartered in Calgary, Alberta. The Company is a significant upstream producer and midstream custom processor of natural gas, NGLs, condensate, and sulphur from Western Canada. Cavvy’s vision is to provide responsible, affordable natural gas and derived products to meet society’s energy security needs.

    For further information, visit www.cavvyenergy.com, or please contact:

    Darcy Reding, President & Chief Executive Officer Adam Gray, Chief Financial Officer
    Telephone: (403) 261-5900 Telephone: (403) 261-5900
       

    Investor Relations
    investors@cavvyenergy.com

    Neither the TSX nor its Regulation Services Provider (as that term is defined in policies of the TSX) accepts responsibility for the adequacy or accuracy of this release

    The MIL Network –

  • MIL-OSI Economics: African Development Bank and CIF to launch report on increasing business opportunities, access to credit for women in renewable energy in Uganda,…

    Source: African Development Bank Group

    What:        Launch of report: Increasing Business Opportunities and Access to Credit for Women in Renewable Energy in Uganda, Kenya, and Rwanda  

    Who:         African Development Bank and Climate Investment Funds

    When:       July 14, 2025 – 2:00pm – 4:00 pm EAT

    Where:     Zoom: https://afdb.zoom.us/webinar/register/WN_gFMNsnCCSMy_ovBU0N7HxA

    The African Development Bank will launch a new report, Increasing Business Opportunities and Access to Credit for Women in Renewable Energy in Uganda, Kenya, and Rwanda.

    The report, developed under the Climate Investment Funds (CIF)-supported Scaling Up Renewable Energy Program in collaboration with the African Development Bank, sheds light on the challenges and immense untapped potential of women entrepreneurs driving growth in the region’s dynamic renewable energy sector.

    While women comprise over 50% of the population in Uganda, Kenya, and Rwanda, they lead less than 20% of renewable energy businesses in these nations. A significant barrier remains access to finance, with women entrepreneurs in renewable energy accessing only 7% of available commercial capital. This disparity highlights a critical need for targeted interventions to unlock their full economic potential and accelerate the sustainable energy transition in East Africa.

    Report Highlights

    • Barriers to Accessing Business Opportunities and Finance: The study identifies structural, and gender-specific barriers that hinder women entrepreneurs from securing business opportunities and financing.
    • Untapped Opportunities for Women Entrepreneurs: Beyond traditional roles, the report underscores vast opportunities for women to expand their engagement across entire renewable energy value chains.
    • Existing Interventions and Critical Gaps: The report reviews current financing mechanisms, capacity-building programs, technical assistance, and policy interventions designed to support women entrepreneurs in renewable energy.
    • Actionable Recommendations: The report provides concrete recommendations for policymakers, financial institutions, development partners, and large private and public sector companies.

    Join the Conversation

    Engage with key findings, learn from shared stakeholder experiences, and collaborate on practical steps to empower women in renewable energy.

    For more information, click: [email protected]

    MIL OSI Economics –

  • MIL-OSI USA: Bergman Secures Major Wins in NDAA to Boost Military Readiness, Energy Independence, and Housing for Servicemembers

    Source: United States House of Representatives – Congressman Jack Bergman (MI-1)

    Bergman Secures Major Wins in NDAA to Boost Military Readiness, Energy Independence, and Housing for Servicemembers

    Washington, July 14, 2025

    Washington – Today, Rep. Jack Bergman, Chairman of the House Armed Services Subcommittee on Readiness, issued the following statement in support of the FY26 National Defense Authorization Act (NDAA):

    “This NDAA puts our warfighters first. Modernizing their tools, improving safety, and delivering on our promises to military families. It’s about cutting waste, building strength, and putting America First,”said Rep. Bergman. “As Chairman of the Readiness Subcommittee, I fought alongside my colleagues to ensure this bill addresses the real challenges facing our servicemembers. We’re delivering results that will make our military stronger, safer, and better prepared for the fight.”

    Key provisions in the FY26 NDAA include:

    • Toxic Exposure Accountability: Builds on the momentum of the recently introduced Military PFAS Transparency Act by incorporating key provisions requiring detailed cleanup plans, risk assessments, and safeguards to protect military families from harmful chemicals at Camp Grayling, Wurtsmith Air Force Base, and military installations nationwide.

    • Indo-Pacific Strategy: Streamlines contested logistics, enhances Air Mobility Command’s readiness, and expands additive manufacturing near forward-operating locations.

    • Military Construction Reform: Cuts red tape and construction costs by eliminating outdated mandates, allowing faster, more cost-efficient construction of barracks and childcare facilities, and investing $120 million in new military labs.

    • Servicemember Housing: Adds $240 million for new barracks, strengthens oversight of private military housing, and demands DOD accountability on health and safety obligations.

    • Energy Independence: Advances next-generation nuclear energy by expanding deployment on military bases, investing $20 million in advanced nuclear fuel, and streamlining DOD nuclear energy initiatives.

    • Military Aviation Safety: In response to deadly trends, this year’s NDAA mandates an independent safety review and key reforms to improve rotary wing training and maintenance safety practices.

    • Training Innovation: Accelerates use of cutting-edge simulators, extended reality, and synthetic environments to improve readiness and reduce costs.

    • Maintenance & Readiness: Addresses F-35 parts shortages, boosts amphibious ship maintenance funding, and demands accountability for aircraft mission-capable rates.

    • Made in America: Protects U.S. supply chains by prohibiting taxpayer funds from flowing to adversaries and requiring American-made military food and energy supplies.

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI: Energy Secretary: The World Needs More Reliable American Energy

    Source: US Department of Energy

    The Economist

    July 14, 2025

    “Climate change is a by-product of progress, not an existential crisis, says Trump’s energy czar”

    By Chris Wright, Secretary of Energy

    Nearly every aspect of modern life depends upon energy. It fuels opportunity, lifts people out of poverty and saves lives. That is why, as a lifelong energy entrepreneur and as US Secretary of Energy, I am honoured to advance President Donald Trump’s policy of bettering lives through unleashing a golden age of energy dominance—both at home and around the world.

    Over the past two centuries, two forces dramatically transformed the human condition: the rise of bottom-up social organisation—human liberty—and the explosion in the supply of affordable energy. The result has been a doubling in life expectancy. In the same period, extreme poverty has plummeted from affecting 90% of the world’s population to under 10%. Energy and human liberty matter.

    The world needs more energy—in particular, more American energy. The growth of American energy production is a win for our citizens, for our geopolitical standing and for our allies. We need energy that is affordable, reliable and secure.
    This administration is focused on energy addition, not subtraction—a complete reversal from the previous four years. By the time President Trump took office, American energy had become more uncertain, more expensive and less reliable. One in five American households were struggling to pay their energy bills. Half of the electric grid faced the risk of blackouts.

    In the name of a single risk—climate change—the Biden administration launched a regulatory assault aimed at eliminating hydrocarbons in favour of so-called renewables.
    . . .
    Was this damage at least offset by progress with Joe Biden’s promise to green the economy? In short, no. Hydrocarbons made up 82% of American primary energy consumption in 2024, nearly the same as in 2019. Hydrocarbons are proving extremely difficult to replace.

    Urgent, politically charged proclamations to alter national energy systems have consistently proven disastrous. In Europe, as well as in America under President Biden, climate zealotry has overtaken energy reality. The result is crushingly high energy prices, deindustrialisation and diminished life opportunities for citizens.

    . . .

    America is taking a different path—one focused on growth. We are expanding our supply of reliable energy, delivering more secure energy to Americans more cheaply. This approach enables the reshoring and domestic expansion of energy-intensive manufacturing: steel, semiconductors, fertiliser, cement and more. And it is positioning America to lead the next major energy-intensive frontier: artificial intelligence (AI).

    AI transforms electricity into the most valuable output imaginable: intelligence. The country that wins the global race for AI leadership will shape the future of innovation, economic productivity and national defence. Dominating AI will require not only world-class scientific expertise, but enormous, continuous amounts of power.
    . . .
    We are accelerating the production of all baseload resources—coal, nuclear, geothermal and, of course, natural gas. Natural gas alone supplies over 40% of American electricity and 25% of global primary energy. It heats more American homes than any other fuel, anchors the booming petrochemical industry and remains the dominant source of industrial heat for manufacturing.

    We will treat climate change as what it is: not an existential crisis but a real, physical phenomenon that is a byproduct of progress. Yes, atmospheric CO2 has increased over time—but so has life expectancy. Billions of people have been lifted out of poverty. Modern medicine, telecommunications and global transportation became possible. I am willing to take the modest negative trade-off for this legacy of human advancement.

    The world stands at an energy crossroads and it is time to choose. Do we want an energy policy of exclusion and scarcity that shackles humanity and limits economic potential? Or do we want a policy of inclusion and abundance, bursting all limits to growth and opportunity?

    America has made its choice in favour of more energy, more manufacturing and more economic activity. We invite others to do the same.

    Read the full article here.

    MIL OSI USA News –

  • MIL-OSI USA: NASA Research Shows Path Toward Protocells on Titan

    Source: NASA

    NASA research has shown that cell-like compartments called vesicles could form naturally in the lakes of Saturn’s moon Titan.
    Titan is the only world apart from Earth that is known to have liquid on its surface. However, Titan’s lakes and seas are not filled with water. Instead, they contain liquid hydrocarbons like ethane and methane. 
    On Earth, liquid water is thought to have been essential for the origin of life as we know it. Many astrobiologists have wondered whether Titan’s liquids could also provide an environment for the formation of the molecules required for life – either as we know it or perhaps as we don’t know it – to take hold there.
    New NASA research, published in the International Journal of Astrobiology, outlines a process by which stable vesicles might form on Titan, based on our current knowledge of the moon’s atmosphere and chemistry. The formation of such compartments is an important step in making the precursors of living cells (or protocells).
    The process involves molecules called amphiphiles, which can self-organize into vesicles under the right conditions. On Earth, these polar molecules have two parts, a hydrophobic (water-fearing) end and a hydrophilic (water-loving) end. When they are in water, groups of these molecules can bunch together and form ball-like spheres, like soap bubbles, where the hydrophilic part of the molecule faces outward to interact with the water, thereby ‘protecting’ the hydrophobic part on the inside of the sphere. Under the right conditions, two layers can form creating a cell-like ball with a bilayer membrane that encapsulates a pocket of water on the inside.
    When considering vesicle formation on Titan, however, the researchers had to take into account an environment vastly different from the early Earth.

    Titan is Saturn’s largest moon and the second largest in our solar system. Titan is also the only moon in our solar system with a substantial atmosphere.
    The hazy, golden atmosphere of Titan kept the moon shrouded in mystery for much of human history. However, when NASA’s Cassini spacecraft arrived at Saturn in 2004, our views of Titan changed forever.
    Thanks to Cassini, we now know Titan has a complex meteorological cycle that actively influences the surface today. Most of Titan’s atmosphere is nitrogen, but there is also a significant amount of methane (CH4). This methane forms clouds and rain, which falls to the surface to cause erosion and river channels, filling up the lakes and seas. This liquid then evaporates in sunlight to form clouds once again.
    This atmospheric activity also allows for complex chemistry to happen. Energy from the Sun breaks apart molecules like methane, and the pieces then reform into complex organic molecules. Many astrobiologists believe that this chemistry could teach us how the molecules necessary for the origin of life formed and evolved on the early Earth.

    The new study considered how vesicles might form in the freezing conditions of Titan’s hydrocarbon lakes and seas by focusing on sea-spray droplets, thrown upwards by splashing raindrops. On Titan, both spray droplets and the sea surface could be coated in layers of amphiphiles. If a droplet then lands on the surface of a pond, the two layers of amphiphiles meet to form a double-layered (or bilayer) vesicle, enclosing the original droplet. Over time, many of these vesicles would be dispersed throughout the pond and would interact and compete in an evolutionary process that could lead to primitive protocells.
    If the proposed pathway is happening, it would increase our understanding of the conditions in which life might be able to form. 
    “The existence of any vesicles on Titan would demonstrate an increase in order and complexity, which are conditions necessary for the origin of life,” explains Conor Nixon of NASA’s Goddard Space Flight Center in Greenbelt, Maryland. “We’re excited about these new ideas because they can open up new directions in Titan research and may change how we search for life on Titan in the future.”
    NASA’s first mission to Titan is the upcoming Dragonfly rotorcraft, which will explore the surface of the Saturnian moon. While Titan’s lakes and seas are not a destination for Dragonfly (and the mission won’t carry the light-scattering instrument required to detect such vesicles), the mission will fly from location to location to study the moon’s surface composition, make atmospheric and geophysical measurements, and characterize the habitability of Titan’s environment.

    Karen Fox / Molly WasserHeadquarters, Washington202-358-1600karen.c.fox@nasa.gov / molly.l.wasser@nasa.gov

    MIL OSI USA News –

  • MIL-OSI USA: NASA Research Shows Path Toward Protocells on Titan

    Source: NASA

    NASA research has shown that cell-like compartments called vesicles could form naturally in the lakes of Saturn’s moon Titan.
    Titan is the only world apart from Earth that is known to have liquid on its surface. However, Titan’s lakes and seas are not filled with water. Instead, they contain liquid hydrocarbons like ethane and methane. 
    On Earth, liquid water is thought to have been essential for the origin of life as we know it. Many astrobiologists have wondered whether Titan’s liquids could also provide an environment for the formation of the molecules required for life – either as we know it or perhaps as we don’t know it – to take hold there.
    New NASA research, published in the International Journal of Astrobiology, outlines a process by which stable vesicles might form on Titan, based on our current knowledge of the moon’s atmosphere and chemistry. The formation of such compartments is an important step in making the precursors of living cells (or protocells).
    The process involves molecules called amphiphiles, which can self-organize into vesicles under the right conditions. On Earth, these polar molecules have two parts, a hydrophobic (water-fearing) end and a hydrophilic (water-loving) end. When they are in water, groups of these molecules can bunch together and form ball-like spheres, like soap bubbles, where the hydrophilic part of the molecule faces outward to interact with the water, thereby ‘protecting’ the hydrophobic part on the inside of the sphere. Under the right conditions, two layers can form creating a cell-like ball with a bilayer membrane that encapsulates a pocket of water on the inside.
    When considering vesicle formation on Titan, however, the researchers had to take into account an environment vastly different from the early Earth.

    Titan is Saturn’s largest moon and the second largest in our solar system. Titan is also the only moon in our solar system with a substantial atmosphere.
    The hazy, golden atmosphere of Titan kept the moon shrouded in mystery for much of human history. However, when NASA’s Cassini spacecraft arrived at Saturn in 2004, our views of Titan changed forever.
    Thanks to Cassini, we now know Titan has a complex meteorological cycle that actively influences the surface today. Most of Titan’s atmosphere is nitrogen, but there is also a significant amount of methane (CH4). This methane forms clouds and rain, which falls to the surface to cause erosion and river channels, filling up the lakes and seas. This liquid then evaporates in sunlight to form clouds once again.
    This atmospheric activity also allows for complex chemistry to happen. Energy from the Sun breaks apart molecules like methane, and the pieces then reform into complex organic molecules. Many astrobiologists believe that this chemistry could teach us how the molecules necessary for the origin of life formed and evolved on the early Earth.

    The new study considered how vesicles might form in the freezing conditions of Titan’s hydrocarbon lakes and seas by focusing on sea-spray droplets, thrown upwards by splashing raindrops. On Titan, both spray droplets and the sea surface could be coated in layers of amphiphiles. If a droplet then lands on the surface of a pond, the two layers of amphiphiles meet to form a double-layered (or bilayer) vesicle, enclosing the original droplet. Over time, many of these vesicles would be dispersed throughout the pond and would interact and compete in an evolutionary process that could lead to primitive protocells.
    If the proposed pathway is happening, it would increase our understanding of the conditions in which life might be able to form. 
    “The existence of any vesicles on Titan would demonstrate an increase in order and complexity, which are conditions necessary for the origin of life,” explains Conor Nixon of NASA’s Goddard Space Flight Center in Greenbelt, Maryland. “We’re excited about these new ideas because they can open up new directions in Titan research and may change how we search for life on Titan in the future.”
    NASA’s first mission to Titan is the upcoming Dragonfly rotorcraft, which will explore the surface of the Saturnian moon. While Titan’s lakes and seas are not a destination for Dragonfly (and the mission won’t carry the light-scattering instrument required to detect such vesicles), the mission will fly from location to location to study the moon’s surface composition, make atmospheric and geophysical measurements, and characterize the habitability of Titan’s environment.

    Karen Fox / Molly WasserHeadquarters, Washington202-358-1600karen.c.fox@nasa.gov / molly.l.wasser@nasa.gov

    MIL OSI USA News –

  • MIL-OSI Economics: Eliza Drake’s Story

    Source: International Association of Drilling Contractors – IADC

    Headline: Eliza Drake’s Story

    The following is part of IADC’s 85th anniversary campaign, “Many Stories, One Voice,” which aims to showcase the real human stories behind the drilling industry. 

    Eliza Drake – IADC Young Professionals Committee Networking/Social Subcommittee Chair; Marketing Representative for Caterpillar Oil & Gas

    Eliza (center) with fellow attendees at a 2024 IADC Young Professionals Committee networking event

    My journey with IADC started back in 2017, during my freshman year at Missouri S&T. From a young age, I knew I wanted to work in the oil and gas industry. I was always fascinated by what happens so far below the Earth’s surface, and I was drawn to being a part of an industry that’s often villainized. I saw it as a chance to change people’s opinions and show them how vital fossil fuels truly are. However, being from Missouri, I didn’t have many chances to connect with the industry directly. It was pure coincidence that I bumped into the IADC Student Chapter President during the first week of my freshman year and joined the group.

    While S&T’s petroleum engineering program might be small, it is mighty, largely due to the support of alumni and organizations like IADC. That support opened doors I didn’t even know existed. IADC gave me not only exposure to the industry and my first international trip, but also the job opportunity that started my career.

    I owe a lot of where I am today to IADC. As a student, I attended several Annual General Meetings (AGM), where I got to connect with influential people in the business and different companies across all aspects of drilling. While I was the Student Chapter President, I attended the AGM in Austin. As a senior without a job lined up, I knew this conference was my chance. I was determined to network and make something happen. Walking into lunch at the event, I was nervous, uncertain and, honestly, desperate for an opportunity. I spotted a table with one seat left, and found myself sitting among group of Caterpillar leaders and dealers. We hit it off immediately, and I had a job offer within two months. As they say, the rest is history.

    Eliza (left) with IADC Young Professionals Committee Co-Chairs Bill Pickering and Liana Carnes at a networking event co-hosted with the American Association of Drilling Engineer’s NEXT group in 2023

    IADC has also given me the opportunity to be a leader, not only as a student but also as a young professional. I have had the opportunity to serve as Student Chapter President and as the Events Chairman for the Young Professionals Committee. Both were invaluable experiences with chances to expand my network. Planning events for others in the drilling space has been so fulfilling. It’s been a great way to connect with like-minded people, share ideas and spark great conversations in a fun setting.

    IADC has made me feel like I’m a part of something much bigger than just a job. It’s made me feel like I’m part of an industry that, while often misunderstood, plays such an important role in powering the world. I’m beyond grateful, and I know I’ll be a lifelong member of this incredible organization.

    MIL OSI Economics –

  • MIL-OSI USA: Wyden Presses Trump Administration Over Misleading Statements on Wildland Firefighting Preparedness and Capability

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)

    July 14, 2025

    Senator’s letter follows U.S. Forest Service Chief Schultz’s misleading testimony in a Senate hearing about Trump’s proposed Forest Service budget

    Washington, D.C. – U.S. Senator Ron Wyden, D-Ore., today demanded answers from the Trump administration following multiple misleading statements at a recent Senate committee hearing from U.S. Forest Service Chief Tom Schultz about how the Trump administration’s staffing and spending cuts are weakening wildland firefighting preparedness and resources this fire season.

    “Unfortunately, the Trump administration has apparently not only failed to increase the overall resources available, it has failed to maintain the inadequate resources it previously had,” Wyden wrote in his letter to Schultz. “This overall lack of transparency through obfuscation and omission inhibits the Senate’s responsibility and congressional authority to conduct oversight of federal agencies, and protect our constituents.”

    Following Wyden’s questioning during the Energy and Natural Resources Committee hearing last week, Chief Schultz implied there had been no reduction in Forest Service employees available to respond to wildfire. This response conveniently ignored employees holding Incident Qualification Cards, or “red cards.” Only later after being pressed did Chief Schultz admit that staffing and budget cuts have resulted in the loss of 1400 red card holders. Any Forest Service employee holding a red card is trained and qualified to support firefighting operations during a wildfire.

    Wyden also asked Chief Schultz to confirm in writing how the Trump administration’s planned reorganization of federal firefighting capabilities within the Department of the Interior will affect its ability to get Western states the personnel and resources they need to prepare for and battle blazes this fire season.

    Additionally, Wyden pressed Chief Schultz on his misleading claim that there has been no decline in hazardous fuel reduction efforts under the Trump administration. The most recent number shared by other administration officials showed that only 1.7 million acres of hazardous fuels reduction treatment have occurred so far this fiscal year, less than half of the 4.29 million acres treated during the last year of the Biden administration in Fiscal Year 2024.

    Wyden has been a longtime champion of sustainable forestry and common-sense policies to reduce the risk of wildfire, introducing the bipartisan National Prescribed Fire Act of 2025 that would invest in hazardous fuels management to reduce the risk of blistering infernos by increasing the pace and scale of prescribed burns during cooler, wetter months. 

    Video of the exchange at last week’s committee hearing between Wyden and Schultz can be found here.

    A copy of the entire letter is here.

    MIL OSI USA News –

  • MIL-OSI: PrairieSky Announces Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, July 14, 2025 (GLOBE NEWSWIRE) —

    PrairieSky Royalty Ltd. (“PrairieSky” or the “Company”) (TSX: PSK) is pleased to announce its second quarter operating and financial results for the period ended June 30, 2025.

    Second Quarter Highlights:

    • Record oil royalty production of 14,376 barrels per day, an 8% increase over Q2 2024(1). Total royalty production averaged 26,457 BOE per day, a 4% increase over Q2 2024.
    • Revenues totaled $123.6 million for Q2 2025(1) comprised of royalty production revenue of $111.2 million and other revenue of $12.4 million, including bonus consideration of $8.5 million earned on entering into 47 new leasing arrangements primarily focused on the Duvernay light oil play.
    • Funds from operations totaled $96.7 million or $0.41 per share, a decrease of 9% from Q2 2024  as record oil royalty production volumes, narrowed heavy and light oil price differentials and a weaker Canadian dollar were offset by lower benchmark US$ WTI pricing.
    • Declared a second quarter dividend of $61.2 million ($0.26 per share), representing a payout ratio of 63%.
    • Purchased and cancelled 84,020 common shares under the Company’s normal course issuer bid (“NCIB”) for $2.0 million. 
    • Completed acquisitions for $6.5 million, primarily of non-producing gross overriding royalty interests targeting Mannville oil.
    • Net debt totaled $242.0 million as at June 30, 2025, a decrease of $16.8 million from March 31, 2025.
     

    President’s Message

    Oil royalty production volumes reached a record 14,376 barrels per day in Q2 2025, an 8% increase over Q2 2024, bringing year-to-date oil royalty production to 13,941 barrels per day. We continue to see growth in our heavy oil portfolio with the Clearwater and Mannville Stack(2) approaching 25% of oil royalty production as third-party operators continue to execute on their drilling programs in these plays. Multilateral horizontal drilling reached a record 52% of spuds (61 wells) in the quarter which included 47 wells in the Clearwater. Year-to-date activity has been particularly strong in the Duvernay with 30 wells spud compared to 33 spud in all of 2024. We expect to see initial royalty production from multiple Duvernay wells in the West Shale Basin(2) in the third quarter and this level of third-party activity to continue to drive annual oil royalty production growth.

    Funds from operations totaled $96.7 million ($0.41 per share) in the quarter driven by strong royalty production volumes of 26,457 BOE per day which generated royalty revenue of $111.2 million, 93% attributed to oil and NGL. Oil royalty production revenue totaled $95.7 million, a 14% decrease from Q2 2024, with lower US$ WTI benchmark pricing offsetting record oil royalty production volumes of 14,376 barrels per day, narrowed light and heavy oil differentials and a weaker Canadian dollar. Natural gas royalty production volumes averaged 58.4 MMcf per day in the quarter, earning $7.9 million in royalty revenue which represented an 80% increase over Q2 2024. The increase in natural gas royalty production revenue was primarily due to improved benchmark pricing with daily AECO index pricing averaging $1.69 per Mcf in the quarter, an increase of 43% over Q2 2024. NGL royalty production averaged 2,348 barrels per day, an increase of 2% from Q2 2024 and generated total NGL royalty production revenue of $7.6 million in the quarter. It was a strong quarter for other revenues which totaled $12.4 million, including bonus consideration of $8.5 million earned on entering into 47 new leases with 37 separate counterparties.

    PrairieSky declared a dividend of $0.26 per share or $61.2 million in the quarter with a resulting payout ratio of 63%. Excess funds from operations after payment of the dividend were allocated to the acquisition of $6.5 million of incremental royalty interests focused on non-producing gross overriding royalty interests targeting Mannville heavy oil targets and share repurchases. The NCIB remains an important part of our long-term capital allocation strategy to create value for shareholders. During the quarter, 84,020 common shares were repurchased and cancelled with an incremental $11.0 million(3) allocated to share repurchases to be settled subsequent to June 30, 2025. PrairieSky exited the quarter with net debt of $242.0 million at June 30, 2025. Subsequent to Q2 2025, PrairieSky exercised the accordion feature of its unsecured, covenant-based credit facility with the existing syndicate of Canadian banks, increasing the commitment of lenders by $250 million, bringing the aggregate credit limit available to PrairieSky to $600 million. There were no other amendments made to the credit facility. The expanded facility provides increased liquidity and financial flexibility moving forward.

    Thank you to our staff for their hard work in the quarter and our shareholders for their continued support.

    Andrew Phillips, President & CEO

    ACTIVITY ON PRAIRIESKY’S ROYALTY PROPERTIES

    Third-party operators spud 117 wells on PrairieSky’s royalty acreage at an average royalty rate of 4.8%, as compared to the 115 wells spud in Q2 2024 at an average royalty rate of 6.6%. Drilling activity generally slows in the second quarter across the Western Canadian Sedimentary Basin as a result of spring break-up. Spuds were comprised of 74 wells on gross overriding royalty acreage, 33 wells on fee lands and 10 unit wells. There were a total of 113 oil wells (97% of wells) spud during the quarter which included 47 Clearwater wells, 17 Mannville light and heavy oil wells, 13 Duvernay wells, 11 Viking wells, 11 Mississippian wells and 14 additional oil wells across Alberta and Saskatchewan. There were 3 Mannville natural gas wells and 1 Duvernay natural gas well spud in Q2 2025.

    NOTES AND REFERENCES

    (1) In this press release, the financial reporting periods are referred to as follows: “Q2 2025”, “the quarter” or the “the second quarter” refers to the three months ended June 30, 2025; “Q2 2024” refers to the three months ended June 30, 2024.
    (2) For further details on the “Mannville Stack” and “West Shale Basin”, we refer you to PrairieSky’s most recent Corporate Presentation contained on PrairieSky’s website at www.prairiesky.com.
    (3) Included in accounts payable and accrued liabilities at June 30, 2025 is $11.0 million related to common share repurchases of which $1.0 million related to common share repurchases that were pending settlement at June 30, 2025 and the remaining $10.0 million related to a provision for share repurchases under the Company’s automatic share purchase plan with an independent broker.
       

    Unless otherwise indicated or the context otherwise requires, terms used in this press release but not defined above are as defined in in the Company’s Annual Information Form for the year ended December 31, 2024 which is available on SEDAR+ at www.sedarplus.com and PrairieSky’s website at www.prairiesky.com.

    FINANCIAL AND OPERATIONAL INFORMATION

    The following table summarizes select operational and financial information of the Company for the periods noted. All dollar amounts are stated in Canadian dollars unless otherwise noted.

    A full version of PrairieSky’s management’s discussion and analysis (“MD&A”) and unaudited interim condensed consolidated financial statements and notes thereto for the fiscal period ended June 30, 2025 are available on SEDAR+ at www.sedarplus.com and PrairieSky’s website at www.prairiesky.com.

      Three months ended Six months ended
      June 30   March 31 June 30 June 30 June 30
    ($ millions, except $ per share or as otherwise noted) 2025   2025 2024 2025 2024
    FINANCIAL                    
    Royalty production revenue 111.2   119.9   125.5   231.1   238.7  
    Other revenue 12.4   8.2   10.1   20.6   17.6  
    Revenues 123.6   128.1   135.6   251.7   256.3  
                         
    Funds from operations 96.7   85.8   106.1   182.5   189.1  
    Per share – basic and diluted(1) 0.41   0.36   0.44   0.77   0.79  
                         
    Net earnings 56.3   58.4   60.3   114.7   107.8  
    Per share – basic and diluted(1) 0.24   0.25   0.25   0.48   0.45  
                         
    Dividends declared(2) 61.2   61.2   59.7   122.4   119.4  
    Per share 0.26   0.26   0.25   0.52   0.50  
                         
    Dividend payout ratio(3) 63%   71%   56%   67%   63%  
                         
    Acquisitions(4) 6.5   63.6   12.3   70.1   21.1  
    Net debt(5) 242.0   258.8   174.6   242.0   174.6  
    Common share repurchases, inclusive of all costs 2.0   91.8   –   93.8   –  
                         
    Shares outstanding (millions)                    
    Shares outstanding at period end 235.5   235.5   239.0   235.5   239.0  
    Weighted average – basic and diluted 235.5   238.3   239.0   236.9   239.0  
                         
    OPERATIONAL                    
    Royalty production volumes                    
    Crude oil (bbls/d) 14,376   13,502   13,312   13,941   13,227  
    NGL (bbls/d) 2,348   2,520   2,308   2,433   2,421  
    Natural gas (MMcf/d) 58.4   55.9   58.2   57.1   60.1  
    Royalty Production (BOE/d)(6) 26,457   25,339   25,320   25,891   25,665  
                         
    Realized pricing                    
    Crude oil ($/bbl) 73.16   83.16   91.75   77.98   84.51  
    NGL ($/bbl) 35.47   44.51   47.20   40.13   45.62  
    Natural gas ($/Mcf) 1.50   1.73   0.84   1.61   1.38  
    Total ($/BOE)(6) 46.19   52.58   54.47   49.31   51.10  
                         
    Operating netback per BOE ($)(7) 43.04   42.85   51.39   42.95   45.43  
                         
    Funds from operations per BOE ($) 40.16   37.62   46.05   38.94   40.48  
                         
    Oil price benchmarks                    
    West Texas Intermediate (WTI) (US$/bbl) 63.76   71.39   80.57   67.59   78.76  
    Edmonton light sweet ($/bbl) 84.24   95.20   105.16   89.78   98.66  
    Western Canadian Select (WCS) crude oil differential to WTI (US$/bbl) (10.27 ) (12.67 ) (13.60 ) (11.47 ) (16.47 )
                         
    Natural gas price benchmarks                    
    AECO Monthly Index ($/Mcf) 2.07   2.02   1.44   2.05   1.74  
    AECO Daily Index ($/Mcf) 1.69   2.16   1.18   1.93   1.84  
                         
    Foreign exchange rate (US$/CAD$) 0.7228   0.6976   0.7315   0.7096   0.7364  
    (1) Funds from operations and net earnings per share are calculated using the weighted average number of basic and diluted common shares outstanding.
    (2) A dividend of $0.26 per share was declared on June 3, 2025. The dividend will be paid on July 15, 2025 to shareholders of record as at June 30, 2025.
    (3) Dividend payout ratio is defined under the “Non-GAAP Measures and Ratios” section of this press release.
    (4) Excluding right-of-use asset additions.
    (5) See Note 12 “Capital Management” in the interim condensed consolidated financial statements for the three and six months ended June 30, 2025 and 2024 and Note 13 “Capital Management” in the interim condensed consolidated financial statements for the three months ended March 31, 2025 and 2024.
    (6) See “Conversions of Natural Gas to BOE”.
    (7) Operating netback per BOE is defined under the “Non-GAAP Measures and Ratios” section of this press release.
       

    CONFERENCE CALL DETAILS

    A conference call to discuss the results will be held for the investment community on Tuesday, July 15, 2025, beginning at 6:30 a.m. MST (8:30 a.m. EST). To participate in the conference call, you are asked to register at one of the links provided below. Details regarding the call will be provided to you upon registration.

    Live call participant registration        
    URL:      https://register-conf.media-server.com/register/BI4b3e791d098f4a4c844ea1427370d036

    Live webcast participant registration (listen in only)
    URL:  https://edge.media-server.com/mmc/p/5a4q5q2j

    FORWARD-LOOKING STATEMENTS

    This press release includes certain forward-looking information and forward-looking statements (collectively, “forward-looking statements”) which may include, but are not limited to PrairieSky’s future plans, current expectations and views of future operations and contains forward-looking statements that the Company believes allow readers to better understand the Company’s business and prospects. All statements other than statements of historical fact may be forward-looking statements. The use of any of the words “expect”, “expected to”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “could”, “likely”, “believe”, “plans”, “intends”, “strategy” and similar expressions (including negative variations) are intended to identify forward-looking information or statements. Forward-looking statements contained in this press release include, but are not limited to, our expectations with respect to PrairieSky’s business and growth strategy and trajectory, including the expectation of receiving royalty production from multiple royalty interest wells in the West Shale Basin in the third quarter; management’s expectation that the level of third-party activity on PrairieSky’s royalty lands will continue to drive annual royalty production growth; and PrairieSky’s expectations to execute on the NCIB as part of our long-term capital allocation strategy to create value for shareholders.

    With respect to forward-looking statements contained in this press release, PrairieSky has made several assumptions including those described in detail in our MD&A and the Annual Information Form for the year ended December 31, 2024. Readers and investors are cautioned that the assumptions used in the preparation of such forward-looking statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. PrairieSky’s actual results, performance, or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. PrairieSky can give no assurance that any of the events anticipated will transpire or occur, or if any of them do, what benefits the Company will derive from them.

    By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond PrairieSky’s control, including but not limited to the impact of general economic conditions including inflation, industry conditions, volatility of commodity prices, lack of or access to sufficient pipeline capacity, currency fluctuations, interest rates, imprecision of reserve estimates, competitive factors impacting royalty rates, environmental risks, taxation, regulation, changes in tax or other legislation, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility, political and geopolitical instability, the risks and impacts of tariffs imposed between Canada and the United States (and other countries) or other restrictive trade measures, retaliatory or countermeasures implemented by such governments affecting trade between Canada and the United States (and other countries), including the potential introduction of regulatory barriers to trade and the effect on the demand and/or market price for commodities, inaccurate expectations for industry drilling levels on our royalty lands and the Company’s ability to access sufficient capital from internal and external sources. In addition, PrairieSky is subject to numerous risks and uncertainties in relation to acquisitions. These risks and uncertainties include risks relating to the potential for disputes to arise with counterparties, and limited ability to recover indemnification under certain agreements. The foregoing and other risks, uncertainties and assumptions are described in more detail in PrairieSky’s MD&A and the Annual Information Form for the year ended December 31, 2024 under the headings “Risk Management” and “Risk Factors”, respectively, each of which is available on SEDAR+ at www.sedarplus.com and PrairieSky’s website at www.prairiesky.com.

    Further, any forward-looking statement is made only as of the date of this press release, and PrairieSky undertakes no obligation to update or revise any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events, except as required by applicable securities laws. New factors emerge from time to time, and it is not possible for PrairieSky to predict all of these factors or to assess, in advance, the impact of each such factor on PrairieSky’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

    CONVERSIONS OF NATURAL GAS TO BOE

    To provide a single unit of production for analytical purposes, natural gas production and reserves volumes are converted mathematically to equivalent barrels of oil (BOE). PrairieSky uses the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). The 6:1 BOE ratio is based on an energy equivalency conversion method primarily applicable at the burner tip. It does not represent a value equivalency at the wellhead and is not based on either energy content or current prices. While the BOE ratio is useful for comparative measures and observing trends, it does not accurately reflect individual product values and might be misleading, particularly if used in isolation. As well, given that the value ratio, based on the current price of crude oil to natural gas, is significantly different from the 6:1 energy equivalency ratio, using a 6:1 conversion ratio may be misleading as an indication of value.

    NON-GAAP MEASURES AND RATIOS

    Certain measures and ratios in this press release do not have any standardized meaning as prescribed by IFRS and, therefore, are considered non-GAAP measures and ratios. These measures and ratios may not be comparable to similar measures and ratios presented by other issuers. These measures and ratios are commonly used in the oil and natural gas industry and by PrairieSky to provide potential investors with additional information regarding the Company’s liquidity and its ability to generate funds to conduct its business. Non-GAAP measures and ratios include operating netback per BOE and dividend payout ratio. Management’s use of these measures and ratios is discussed further below. Further information can be found in the Non-GAAP Measures and Ratios section of PrairieSky’s MD&A for the three and six months ended June 30, 2025 and 2024 and PrairieSky’s MD&A for the three months ended March 31, 2025 and 2024.

    “Operating netback per BOE” represents the cash margin for products sold on a BOE basis. Operating netback per BOE is calculated by dividing the operating netback (royalty production revenue less production and mineral taxes and cash administrative expenses) by the average daily production volumes for the period. Operating netback per BOE is used to assess the cash generating and operating performance per unit of product sold and the comparability of the underlying performance between years. Operating netback per BOE measures are commonly used in the oil and natural gas industry to assess performance comparability. Refer to the Operating Results table starting on page 6 of PrairieSky’s MD&A for the three and six months ended June 30, 2025 and 2024 and page 6 of PrairieSky’s MD&A for the three months ended March 31, 2025 and 2024.

      Three months ended Six months ended
      June 30 March 31 June 30 June 30 June 30
    ($ millions) 2025 2025 2024 2025 2024
    Cash from operating activities 90.3   90.7   99.3   181.0   179.0  
    Other revenue (12.4 ) (8.2 ) (10.1 ) (20.6 ) (17.6 )
    Amortization of debt issuance costs (0.1 ) (0.1 ) (0.1 ) (0.2 ) (0.2 )
    Finance expense 3.0   2.9   3.5   5.9   7.2  
    Current tax expense 16.5   17.3   19.0   33.8   33.7  
    Interest on lease obligation (0.1 ) –   –   (0.1 ) –  
    Net change in non-cash working capital 6.4   (4.9 ) 6.8   1.5   10.1  
    Operating netback 103.6   97.7   118.4   201.3   212.2  
                         

    “Operating Margin” represents operating netback as a percentage of royalty production revenue. Management uses this measure to demonstrate the comparability between the Company and production and exploration companies in the oil and natural gas industry as it shows net revenue generation from operations.

      Three months ended Six months ended
      June 30 March 31 June 30 June 30 June 30
    ($ millions) 2025 2025 2024 2025 2024
    Royalty production revenue 111.2 119.9 125.5 231.1 238.7
    Operating netback 103.6 97.7 118.4 201.3 212.2
    Operating margin 93% 81% 94% 87% 89%
               

    “Dividend payout ratio” is calculated as dividends declared as a percentage of funds from operations. Payout ratio is used by dividend paying companies to assess dividend levels in relation to the funds generated and used in operating activities.

      Three months ended Six months ended
      June 30 March 31 June 30 June 30 June 30
    ($ millions, except otherwise noted) 2025 2025 2024 2025 2024
    Funds from operations 96.7 85.8 106.1 182.5 189.1
    Dividends declared 61.2 61.2 59.7 122.4 119.4
    Dividend payout ratio 63% 71% 56% 67% 63%
               

    ABOUT PRAIRIESKY ROYALTY LTD.

    PrairieSky is a royalty company, generating royalty production revenues as oil and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating funds from operations and that represent the largest and most consolidated independently-owned fee simple mineral title position in Canada. PrairieSky’s common shares trade on the Toronto Stock Exchange under the symbol PSK.

    FOR FURTHER INFORMATION PLEASE CONTACT:

    Andrew M. Phillips
    President & Chief Executive Officer
    PrairieSky Royalty Ltd.
    (587) 293-4005

    Michael T. Murphy
    Vice-President, Geosciences & Capital Markets
    PrairieSky Royalty Ltd.
    (587) 293-4056

    Investor Relations
    (587) 293-4000
    www.prairiesky.com

    		 Pamela P. Kazeil
    Senior Vice-President, Finance & Chief Financial
    Officer
    PrairieSky Royalty Ltd.
    (587) 293-4089
       

    PDF available: http://ml.globenewswire.com/Resource/Download/36ee4b7d-4f4e-42d9-a2fb-c3c005d65436

    The MIL Network –

  • MIL-OSI: PrairieSky Announces Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, July 14, 2025 (GLOBE NEWSWIRE) —

    PrairieSky Royalty Ltd. (“PrairieSky” or the “Company”) (TSX: PSK) is pleased to announce its second quarter operating and financial results for the period ended June 30, 2025.

    Second Quarter Highlights:

    • Record oil royalty production of 14,376 barrels per day, an 8% increase over Q2 2024(1). Total royalty production averaged 26,457 BOE per day, a 4% increase over Q2 2024.
    • Revenues totaled $123.6 million for Q2 2025(1) comprised of royalty production revenue of $111.2 million and other revenue of $12.4 million, including bonus consideration of $8.5 million earned on entering into 47 new leasing arrangements primarily focused on the Duvernay light oil play.
    • Funds from operations totaled $96.7 million or $0.41 per share, a decrease of 9% from Q2 2024  as record oil royalty production volumes, narrowed heavy and light oil price differentials and a weaker Canadian dollar were offset by lower benchmark US$ WTI pricing.
    • Declared a second quarter dividend of $61.2 million ($0.26 per share), representing a payout ratio of 63%.
    • Purchased and cancelled 84,020 common shares under the Company’s normal course issuer bid (“NCIB”) for $2.0 million. 
    • Completed acquisitions for $6.5 million, primarily of non-producing gross overriding royalty interests targeting Mannville oil.
    • Net debt totaled $242.0 million as at June 30, 2025, a decrease of $16.8 million from March 31, 2025.
     

    President’s Message

    Oil royalty production volumes reached a record 14,376 barrels per day in Q2 2025, an 8% increase over Q2 2024, bringing year-to-date oil royalty production to 13,941 barrels per day. We continue to see growth in our heavy oil portfolio with the Clearwater and Mannville Stack(2) approaching 25% of oil royalty production as third-party operators continue to execute on their drilling programs in these plays. Multilateral horizontal drilling reached a record 52% of spuds (61 wells) in the quarter which included 47 wells in the Clearwater. Year-to-date activity has been particularly strong in the Duvernay with 30 wells spud compared to 33 spud in all of 2024. We expect to see initial royalty production from multiple Duvernay wells in the West Shale Basin(2) in the third quarter and this level of third-party activity to continue to drive annual oil royalty production growth.

    Funds from operations totaled $96.7 million ($0.41 per share) in the quarter driven by strong royalty production volumes of 26,457 BOE per day which generated royalty revenue of $111.2 million, 93% attributed to oil and NGL. Oil royalty production revenue totaled $95.7 million, a 14% decrease from Q2 2024, with lower US$ WTI benchmark pricing offsetting record oil royalty production volumes of 14,376 barrels per day, narrowed light and heavy oil differentials and a weaker Canadian dollar. Natural gas royalty production volumes averaged 58.4 MMcf per day in the quarter, earning $7.9 million in royalty revenue which represented an 80% increase over Q2 2024. The increase in natural gas royalty production revenue was primarily due to improved benchmark pricing with daily AECO index pricing averaging $1.69 per Mcf in the quarter, an increase of 43% over Q2 2024. NGL royalty production averaged 2,348 barrels per day, an increase of 2% from Q2 2024 and generated total NGL royalty production revenue of $7.6 million in the quarter. It was a strong quarter for other revenues which totaled $12.4 million, including bonus consideration of $8.5 million earned on entering into 47 new leases with 37 separate counterparties.

    PrairieSky declared a dividend of $0.26 per share or $61.2 million in the quarter with a resulting payout ratio of 63%. Excess funds from operations after payment of the dividend were allocated to the acquisition of $6.5 million of incremental royalty interests focused on non-producing gross overriding royalty interests targeting Mannville heavy oil targets and share repurchases. The NCIB remains an important part of our long-term capital allocation strategy to create value for shareholders. During the quarter, 84,020 common shares were repurchased and cancelled with an incremental $11.0 million(3) allocated to share repurchases to be settled subsequent to June 30, 2025. PrairieSky exited the quarter with net debt of $242.0 million at June 30, 2025. Subsequent to Q2 2025, PrairieSky exercised the accordion feature of its unsecured, covenant-based credit facility with the existing syndicate of Canadian banks, increasing the commitment of lenders by $250 million, bringing the aggregate credit limit available to PrairieSky to $600 million. There were no other amendments made to the credit facility. The expanded facility provides increased liquidity and financial flexibility moving forward.

    Thank you to our staff for their hard work in the quarter and our shareholders for their continued support.

    Andrew Phillips, President & CEO

    ACTIVITY ON PRAIRIESKY’S ROYALTY PROPERTIES

    Third-party operators spud 117 wells on PrairieSky’s royalty acreage at an average royalty rate of 4.8%, as compared to the 115 wells spud in Q2 2024 at an average royalty rate of 6.6%. Drilling activity generally slows in the second quarter across the Western Canadian Sedimentary Basin as a result of spring break-up. Spuds were comprised of 74 wells on gross overriding royalty acreage, 33 wells on fee lands and 10 unit wells. There were a total of 113 oil wells (97% of wells) spud during the quarter which included 47 Clearwater wells, 17 Mannville light and heavy oil wells, 13 Duvernay wells, 11 Viking wells, 11 Mississippian wells and 14 additional oil wells across Alberta and Saskatchewan. There were 3 Mannville natural gas wells and 1 Duvernay natural gas well spud in Q2 2025.

    NOTES AND REFERENCES

    (1) In this press release, the financial reporting periods are referred to as follows: “Q2 2025”, “the quarter” or the “the second quarter” refers to the three months ended June 30, 2025; “Q2 2024” refers to the three months ended June 30, 2024.
    (2) For further details on the “Mannville Stack” and “West Shale Basin”, we refer you to PrairieSky’s most recent Corporate Presentation contained on PrairieSky’s website at www.prairiesky.com.
    (3) Included in accounts payable and accrued liabilities at June 30, 2025 is $11.0 million related to common share repurchases of which $1.0 million related to common share repurchases that were pending settlement at June 30, 2025 and the remaining $10.0 million related to a provision for share repurchases under the Company’s automatic share purchase plan with an independent broker.
       

    Unless otherwise indicated or the context otherwise requires, terms used in this press release but not defined above are as defined in in the Company’s Annual Information Form for the year ended December 31, 2024 which is available on SEDAR+ at www.sedarplus.com and PrairieSky’s website at www.prairiesky.com.

    FINANCIAL AND OPERATIONAL INFORMATION

    The following table summarizes select operational and financial information of the Company for the periods noted. All dollar amounts are stated in Canadian dollars unless otherwise noted.

    A full version of PrairieSky’s management’s discussion and analysis (“MD&A”) and unaudited interim condensed consolidated financial statements and notes thereto for the fiscal period ended June 30, 2025 are available on SEDAR+ at www.sedarplus.com and PrairieSky’s website at www.prairiesky.com.

      Three months ended Six months ended
      June 30   March 31 June 30 June 30 June 30
    ($ millions, except $ per share or as otherwise noted) 2025   2025 2024 2025 2024
    FINANCIAL                    
    Royalty production revenue 111.2   119.9   125.5   231.1   238.7  
    Other revenue 12.4   8.2   10.1   20.6   17.6  
    Revenues 123.6   128.1   135.6   251.7   256.3  
                         
    Funds from operations 96.7   85.8   106.1   182.5   189.1  
    Per share – basic and diluted(1) 0.41   0.36   0.44   0.77   0.79  
                         
    Net earnings 56.3   58.4   60.3   114.7   107.8  
    Per share – basic and diluted(1) 0.24   0.25   0.25   0.48   0.45  
                         
    Dividends declared(2) 61.2   61.2   59.7   122.4   119.4  
    Per share 0.26   0.26   0.25   0.52   0.50  
                         
    Dividend payout ratio(3) 63%   71%   56%   67%   63%  
                         
    Acquisitions(4) 6.5   63.6   12.3   70.1   21.1  
    Net debt(5) 242.0   258.8   174.6   242.0   174.6  
    Common share repurchases, inclusive of all costs 2.0   91.8   –   93.8   –  
                         
    Shares outstanding (millions)                    
    Shares outstanding at period end 235.5   235.5   239.0   235.5   239.0  
    Weighted average – basic and diluted 235.5   238.3   239.0   236.9   239.0  
                         
    OPERATIONAL                    
    Royalty production volumes                    
    Crude oil (bbls/d) 14,376   13,502   13,312   13,941   13,227  
    NGL (bbls/d) 2,348   2,520   2,308   2,433   2,421  
    Natural gas (MMcf/d) 58.4   55.9   58.2   57.1   60.1  
    Royalty Production (BOE/d)(6) 26,457   25,339   25,320   25,891   25,665  
                         
    Realized pricing                    
    Crude oil ($/bbl) 73.16   83.16   91.75   77.98   84.51  
    NGL ($/bbl) 35.47   44.51   47.20   40.13   45.62  
    Natural gas ($/Mcf) 1.50   1.73   0.84   1.61   1.38  
    Total ($/BOE)(6) 46.19   52.58   54.47   49.31   51.10  
                         
    Operating netback per BOE ($)(7) 43.04   42.85   51.39   42.95   45.43  
                         
    Funds from operations per BOE ($) 40.16   37.62   46.05   38.94   40.48  
                         
    Oil price benchmarks                    
    West Texas Intermediate (WTI) (US$/bbl) 63.76   71.39   80.57   67.59   78.76  
    Edmonton light sweet ($/bbl) 84.24   95.20   105.16   89.78   98.66  
    Western Canadian Select (WCS) crude oil differential to WTI (US$/bbl) (10.27 ) (12.67 ) (13.60 ) (11.47 ) (16.47 )
                         
    Natural gas price benchmarks                    
    AECO Monthly Index ($/Mcf) 2.07   2.02   1.44   2.05   1.74  
    AECO Daily Index ($/Mcf) 1.69   2.16   1.18   1.93   1.84  
                         
    Foreign exchange rate (US$/CAD$) 0.7228   0.6976   0.7315   0.7096   0.7364  
    (1) Funds from operations and net earnings per share are calculated using the weighted average number of basic and diluted common shares outstanding.
    (2) A dividend of $0.26 per share was declared on June 3, 2025. The dividend will be paid on July 15, 2025 to shareholders of record as at June 30, 2025.
    (3) Dividend payout ratio is defined under the “Non-GAAP Measures and Ratios” section of this press release.
    (4) Excluding right-of-use asset additions.
    (5) See Note 12 “Capital Management” in the interim condensed consolidated financial statements for the three and six months ended June 30, 2025 and 2024 and Note 13 “Capital Management” in the interim condensed consolidated financial statements for the three months ended March 31, 2025 and 2024.
    (6) See “Conversions of Natural Gas to BOE”.
    (7) Operating netback per BOE is defined under the “Non-GAAP Measures and Ratios” section of this press release.
       

    CONFERENCE CALL DETAILS

    A conference call to discuss the results will be held for the investment community on Tuesday, July 15, 2025, beginning at 6:30 a.m. MST (8:30 a.m. EST). To participate in the conference call, you are asked to register at one of the links provided below. Details regarding the call will be provided to you upon registration.

    Live call participant registration        
    URL:      https://register-conf.media-server.com/register/BI4b3e791d098f4a4c844ea1427370d036

    Live webcast participant registration (listen in only)
    URL:  https://edge.media-server.com/mmc/p/5a4q5q2j

    FORWARD-LOOKING STATEMENTS

    This press release includes certain forward-looking information and forward-looking statements (collectively, “forward-looking statements”) which may include, but are not limited to PrairieSky’s future plans, current expectations and views of future operations and contains forward-looking statements that the Company believes allow readers to better understand the Company’s business and prospects. All statements other than statements of historical fact may be forward-looking statements. The use of any of the words “expect”, “expected to”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “could”, “likely”, “believe”, “plans”, “intends”, “strategy” and similar expressions (including negative variations) are intended to identify forward-looking information or statements. Forward-looking statements contained in this press release include, but are not limited to, our expectations with respect to PrairieSky’s business and growth strategy and trajectory, including the expectation of receiving royalty production from multiple royalty interest wells in the West Shale Basin in the third quarter; management’s expectation that the level of third-party activity on PrairieSky’s royalty lands will continue to drive annual royalty production growth; and PrairieSky’s expectations to execute on the NCIB as part of our long-term capital allocation strategy to create value for shareholders.

    With respect to forward-looking statements contained in this press release, PrairieSky has made several assumptions including those described in detail in our MD&A and the Annual Information Form for the year ended December 31, 2024. Readers and investors are cautioned that the assumptions used in the preparation of such forward-looking statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. PrairieSky’s actual results, performance, or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. PrairieSky can give no assurance that any of the events anticipated will transpire or occur, or if any of them do, what benefits the Company will derive from them.

    By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond PrairieSky’s control, including but not limited to the impact of general economic conditions including inflation, industry conditions, volatility of commodity prices, lack of or access to sufficient pipeline capacity, currency fluctuations, interest rates, imprecision of reserve estimates, competitive factors impacting royalty rates, environmental risks, taxation, regulation, changes in tax or other legislation, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility, political and geopolitical instability, the risks and impacts of tariffs imposed between Canada and the United States (and other countries) or other restrictive trade measures, retaliatory or countermeasures implemented by such governments affecting trade between Canada and the United States (and other countries), including the potential introduction of regulatory barriers to trade and the effect on the demand and/or market price for commodities, inaccurate expectations for industry drilling levels on our royalty lands and the Company’s ability to access sufficient capital from internal and external sources. In addition, PrairieSky is subject to numerous risks and uncertainties in relation to acquisitions. These risks and uncertainties include risks relating to the potential for disputes to arise with counterparties, and limited ability to recover indemnification under certain agreements. The foregoing and other risks, uncertainties and assumptions are described in more detail in PrairieSky’s MD&A and the Annual Information Form for the year ended December 31, 2024 under the headings “Risk Management” and “Risk Factors”, respectively, each of which is available on SEDAR+ at www.sedarplus.com and PrairieSky’s website at www.prairiesky.com.

    Further, any forward-looking statement is made only as of the date of this press release, and PrairieSky undertakes no obligation to update or revise any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events, except as required by applicable securities laws. New factors emerge from time to time, and it is not possible for PrairieSky to predict all of these factors or to assess, in advance, the impact of each such factor on PrairieSky’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

    CONVERSIONS OF NATURAL GAS TO BOE

    To provide a single unit of production for analytical purposes, natural gas production and reserves volumes are converted mathematically to equivalent barrels of oil (BOE). PrairieSky uses the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). The 6:1 BOE ratio is based on an energy equivalency conversion method primarily applicable at the burner tip. It does not represent a value equivalency at the wellhead and is not based on either energy content or current prices. While the BOE ratio is useful for comparative measures and observing trends, it does not accurately reflect individual product values and might be misleading, particularly if used in isolation. As well, given that the value ratio, based on the current price of crude oil to natural gas, is significantly different from the 6:1 energy equivalency ratio, using a 6:1 conversion ratio may be misleading as an indication of value.

    NON-GAAP MEASURES AND RATIOS

    Certain measures and ratios in this press release do not have any standardized meaning as prescribed by IFRS and, therefore, are considered non-GAAP measures and ratios. These measures and ratios may not be comparable to similar measures and ratios presented by other issuers. These measures and ratios are commonly used in the oil and natural gas industry and by PrairieSky to provide potential investors with additional information regarding the Company’s liquidity and its ability to generate funds to conduct its business. Non-GAAP measures and ratios include operating netback per BOE and dividend payout ratio. Management’s use of these measures and ratios is discussed further below. Further information can be found in the Non-GAAP Measures and Ratios section of PrairieSky’s MD&A for the three and six months ended June 30, 2025 and 2024 and PrairieSky’s MD&A for the three months ended March 31, 2025 and 2024.

    “Operating netback per BOE” represents the cash margin for products sold on a BOE basis. Operating netback per BOE is calculated by dividing the operating netback (royalty production revenue less production and mineral taxes and cash administrative expenses) by the average daily production volumes for the period. Operating netback per BOE is used to assess the cash generating and operating performance per unit of product sold and the comparability of the underlying performance between years. Operating netback per BOE measures are commonly used in the oil and natural gas industry to assess performance comparability. Refer to the Operating Results table starting on page 6 of PrairieSky’s MD&A for the three and six months ended June 30, 2025 and 2024 and page 6 of PrairieSky’s MD&A for the three months ended March 31, 2025 and 2024.

      Three months ended Six months ended
      June 30 March 31 June 30 June 30 June 30
    ($ millions) 2025 2025 2024 2025 2024
    Cash from operating activities 90.3   90.7   99.3   181.0   179.0  
    Other revenue (12.4 ) (8.2 ) (10.1 ) (20.6 ) (17.6 )
    Amortization of debt issuance costs (0.1 ) (0.1 ) (0.1 ) (0.2 ) (0.2 )
    Finance expense 3.0   2.9   3.5   5.9   7.2  
    Current tax expense 16.5   17.3   19.0   33.8   33.7  
    Interest on lease obligation (0.1 ) –   –   (0.1 ) –  
    Net change in non-cash working capital 6.4   (4.9 ) 6.8   1.5   10.1  
    Operating netback 103.6   97.7   118.4   201.3   212.2  
                         

    “Operating Margin” represents operating netback as a percentage of royalty production revenue. Management uses this measure to demonstrate the comparability between the Company and production and exploration companies in the oil and natural gas industry as it shows net revenue generation from operations.

      Three months ended Six months ended
      June 30 March 31 June 30 June 30 June 30
    ($ millions) 2025 2025 2024 2025 2024
    Royalty production revenue 111.2 119.9 125.5 231.1 238.7
    Operating netback 103.6 97.7 118.4 201.3 212.2
    Operating margin 93% 81% 94% 87% 89%
               

    “Dividend payout ratio” is calculated as dividends declared as a percentage of funds from operations. Payout ratio is used by dividend paying companies to assess dividend levels in relation to the funds generated and used in operating activities.

      Three months ended Six months ended
      June 30 March 31 June 30 June 30 June 30
    ($ millions, except otherwise noted) 2025 2025 2024 2025 2024
    Funds from operations 96.7 85.8 106.1 182.5 189.1
    Dividends declared 61.2 61.2 59.7 122.4 119.4
    Dividend payout ratio 63% 71% 56% 67% 63%
               

    ABOUT PRAIRIESKY ROYALTY LTD.

    PrairieSky is a royalty company, generating royalty production revenues as oil and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating funds from operations and that represent the largest and most consolidated independently-owned fee simple mineral title position in Canada. PrairieSky’s common shares trade on the Toronto Stock Exchange under the symbol PSK.

    FOR FURTHER INFORMATION PLEASE CONTACT:

    Andrew M. Phillips
    President & Chief Executive Officer
    PrairieSky Royalty Ltd.
    (587) 293-4005

    Michael T. Murphy
    Vice-President, Geosciences & Capital Markets
    PrairieSky Royalty Ltd.
    (587) 293-4056

    Investor Relations
    (587) 293-4000
    www.prairiesky.com

    		 Pamela P. Kazeil
    Senior Vice-President, Finance & Chief Financial
    Officer
    PrairieSky Royalty Ltd.
    (587) 293-4089
       

    PDF available: http://ml.globenewswire.com/Resource/Download/36ee4b7d-4f4e-42d9-a2fb-c3c005d65436

    The MIL Network –

  • MIL-OSI Security: Environmental Crimes Bulletin – June 2025

    Source: United States Attorneys General 7

    View All Environmental Crimes Bulletins

    In This Issue:

    Cases by District/Circuit

    District/Circuit Case Name Conduct/Statute(s)
    7th Circuit Court of Appeals  United States v.  Clark Conspiracy; False Statement; Mail Fraud; Obstruction
    District of Alaska United States v. Matanuska Diesel, LLC, et al. Emissions Tampering; Clean Air Act; Conspiracy
    Central District of California United States v. Isidoro Chaparro Sanchez, et al. Cockfighting; Animal Welfare Act
    Southern District of California United States v. Juandaniel Medina Exotic Bird Smuggling
    United States v. Dumitru Cicai Pesticide Smuggling
    United States v. Jose Manuel Valenzuela Refrigerant Smuggling; Failure to Present Tanks for Inspection
    Middle District of Georgia United States v. Brandon Baker, et al. Dogfighting; Animal Welfare Act; Conspiracy
    District of Idaho United States v. Jerrod R. Farr, et al. Big Game Outfitter; Lacey Act
    Eastern District of Missouri United States v. All Out Diesel, et al. Emissions Tampering; Clean Air Act; Conspiracy
    District of Montana United States v. Hollis G. Hale, et al. Sheep Hunting; Endangered Species Act; Lacey Act
    District of New Jersey United States v. Angela Amponsa Unregistered Pesticide Sales; Federal Insecticide, Fungicide, and Rodenticide Act
    Southern District of Ohio United States v. Katrina D. Favret, et al. Animal Crush Videos; PACT Act; Conspiracy
    United States v. Fabcon Precast LLC Employee Death; Occupational Safety and Health Act
    Eastern District of Pennsylvania United States v. Matthew Caroluzzi, et al. Emissions Tampering; Clean Air Act; Conspiracy
    Western District of Pennsylvania United States v. Erie Coke Corporation, et al. Air Emissions; Clean Air Act; Conspiracy
    District of South Carolina United States v. Shaylynn Kolwyck-Peterson Chimpanzee Sale; Lacey Act
    United States v. Bhagavan “Doc” Antle, et al. Wildlife Trafficking; Conspiracy; Money Laundering
    Southern District of Texas United States v. Jose Daniel Santiago-Mendoza, et al. Illegal Fishing; Lacey Act
    Western District of Texas United States v. Paul Jacob Elliott Sommers Reptile Smuggling
    District of Wyoming United States v. Mark Orchard, et al. Oily Waste Discharges; Depredation of Government Property

    DECISIONS 

    United States v.  Clark

    • Nos. 24-1320, 24-1321
    • 2025 WL 1635508 (7th Cir., June 10, 2025)

    On June 10, 2025, the Seventh Circuit Court of Appeals issued an opinion affirming Derrick Clark’s conviction on all counts, affirming Shawn Mesner’s fraud conviction, and vacating Mesner’s conspiracy conviction.

    Both defendants worked at Didion Milling (“Didion”). In May 2017, a corn mill operated by Didion exploded due to combustible dust, killing five workers and seriously injuring 14 others. Clark was convicted at trial of conspiracy, falsifying an environmental compliance certification, falsifying environmental compliance records, and obstructing an Occupational Safety and Health Administration (OSHA) investigation by providing false and misleading testimony. Mesner was convicted at trial of fraud and conspiracy, each relating to his role in falsifying records regarding the mill’s sanitation program.

    The Seventh Circuit first held that the district court did not err in admitting another Didion employee’s inconsistent prior sworn statement. The court found that the statement was made under oath and that the trial judge did not need to review it line-by-line to assess its inconsistency with the witness’s in-court testimony. The court also rejected Clark’s sufficiency-of-the-evidence challenges to his convictions for making false entries in Didion’s Clean Air Act compliance certification (18 U.S.C. § 1519) and aiding and abetting the use of falsified baghouse logs, which were within the U.S. Environmental Protection Agency’s jurisdiction (18 U.S.C. § 1001(a)(3)).

    Next, the court affirmed Clark’s conspiracy conviction (18 U.S.C § 371), holding that the jury instructions adequately informed the jury that the object of the conspiracy must be a federal offense and that the jury must be unanimous. The court emphasized that the special verdict form further alleviated any confusion. The court also held that Clark’s conviction for making false statements (18 U.S.C. § 1505) did not depend on the constitutionality of the underlying OSHA regulation, and thus it declined to weigh in on the regulation’s validity. Finally, in a footnote, the court dismissed Clark’s assertion of erroneous evidentiary rulings and cumulative error.

    As for Mesner, the court first vacated Mesner’s conspiracy conviction because the government dismissed the substantive count underlying that conviction at the close of evidence and the district court never instructed the jury on it. The Seventh Circuit thus “decline[d] to uphold a conviction premised on a count that the government dismissed, and on which the court never instructed the jury.” But the court affirmed Mesner’s conviction for fraud conspiracy (18 U.S.C. §§ 1341, 1343, 1349), relying in part on the Supreme Court’s recent decision in Kousisis v. United States. The court held that the indictment “easily” satisfied the standard for sufficiency, properly identified money as the “object” of the conspiracy, and sufficiently alleged that Mesner and Didion misrepresented an essential element of the bargain to Didion’s customers.

    The court also concluded that there was sufficient evidence for the jury to convict on this count, rejecting Mesner’s argument that Ciminelli v. United States foreclosed his conviction or that the government needed to introduce the contracts between Didion and its customers to prove materiality. The court concluded that a jury could reasonably find – based on witness testimony and documentary evidence – that the accuracy of Didion’s sanitation logbook was material to the bargain between Didion and its customers. 

    Recently Charged

    United States v. Matthew Caroluzzi, et al.

    • No. 2:25-CR-00239 (Eastern District of Pennsylvania)
    • ECS Senior Trial Attorney RJ Powers
    • Former ECS Attorney Ron Sarachan
    • AUSA Sarah Solow

    On June 3, 2025, prosecutors charged Matthew Caroluzzi and his business, Matt’s Heavy Duty Mobile Diagnostics and Truck Repair & Heavy Towing (“Matt’s HD”) with conspiracy to violate the Clean Air Act (CAA) (18 U.S.C. § 371), and nine substantive CAA counts (18 U.S.C. § 371; 42 U.S.C. § 7413(c)(2)(C)).

    Caroluzzi owns and operates Matt’s HD, located in Sellersville, Pennsylvania. The company conducts repairs on large semi-trucks and provides a 24/7 towing service. His customers also travelled from out-of-state locations, including New Jersey, Delaware, and Maryland

    The defendants tampered with and rendered inaccurate monitoring devices and methods required to be maintained under the CAA, that is, on-board and diagnostic emission monitoring devices on diesel trucks. Caroluzzi removed physical emissions control components and altered vehicles’ on-board computers. With assistance from his mechanics, Caroluzzi conducted emissions “deletes” at the shop, on the road, and at other diesel repair shops. Over the course of the conspiracy, Caroluzzi charged customers between $1,000 and $3,000 for his services, and performed deletes on more than 700 diesel-powered trucks.

    The U.S. Environmental Protection Agency Criminal Investigation Division conducted the investigation.

    Related Press Release: Heavy Duty Truck Repair and Diagnostics Company and Its Owner Charged in Major Clean Air Act Investigation | DOT OIG

    United States v. Juandaniel Medina

    • No. 25-mj-03169 (Southern District of California)
    • AUSA Evangeline Dech

    On June 10, 2025, prosecutors charged Juandaniel Medina with smuggling endangered exotic birds (16 U.S.C. §§ 1538(c), 1540(b); 18 U.S.C. § 545). Medina is the third person in recent weeks authorities have detained for attempting to smuggle protected birds, including red-lored Amazon parrots. All seven birds in this case are alive and under quarantine.

    On May 26, 2025, authorities detained Medina at the San Ysidro Port of Entry after discovering seven live Amazon parrots in a cardboard box on the passenger floorboard. Medina was the driver and registered owner of the vehicle. He admitted paying $700 cash for the parrots with the intention of breeding and/or reselling them in the United States. All Amazon parrot species are listed under the Convention on International Trade in Endangered Species.

    Smuggled birds that are not subject to quarantine can prove dangerous as they may carry and spread Avian influenza (bird flu) and other diseases. Bird flu is highly contagious and can cause flu-like symptoms, respiratory illness, pneumonia, and death in humans and other birds, including those housed on poultry farms.

    The U.S. Fish and Wildlife Service Office of Law Enforcement and Homeland Security Investigations conducted the investigation. 

    Photo of parrot found in box in defendant’s vehicle following his arrest, from press release.

    Related Press Release: Southern District of California | Exotic Bird Smuggler Busted at the Border | United States Department of Justice

    United States v. Katrina D. Favret, et al.

    • No. 2:25-CR-00071 (Southern District of Ohio)
    • ECS Senior Trial Attorney Adam Cullman
    • ECS Trial Attorney Mark Romley
    • AUSA Nicole Pakiz
    • ECS Paralegal Gabriella Leaming

    On June 11, 2025, a court unsealed an indictment charging two individuals for their involvement with online groups dedicated to creating and distributing videos depicting acts of extreme violence and sexual abuse against monkeys.

    The indictment states that Katrina D. Favret and Robert M. Craig conspired with previously charged defendant Ronald P. Bedra to create and distribute so-called “animal crush videos” (18 U.S.C. § 371). Favret is also charged with creating and with distributing animal crush videos (18 U.S.C. §§ 48(a)(2), 48(a)(3)).

    According to court documents, the defendants conspired with others to create and distribute videos depicting acts of sadistic violence against juvenile and adult monkeys. The conspirators used encrypted chat applications to direct money to individuals in Indonesia willing to commit the requested acts of torture on camera.

    Eleven other individuals were charged with similar violations in an indictment unsealed in May (United States v. Ernest Chavez, et al.).

    The Federal Bureau of Investigation and the U.S. Fish and Wildlife Service Office of Law Enforcement conducted the investigation.

    Related Press Release: Office of Public Affairs | Grand Jury Indicts 11 More Individuals for Involvement with Online Groups Dedicated to Monkey Torture and Mutilation | United States Department of Justice

    Guilty Pleas

    United States v. Mark Orchard, et al.

    • No. 2:23-CR-00166 (District of Wyoming)
    • AUSA Kerry Jacobson
    • SAUSA Richard Baird

    On June 9, 2025, Mark Orchard pleaded guilty to Depredation of Government Property (18 U.S.C. § 1361). Co-defendant Darwin Crawford entered a similar plea on May 30, 2025. Crawford and Orchard are scheduled for sentencing on August 18 and 22, 2025, respectively.

    Contractors Crawford and Orchard worked as field operation managers who oversaw  field operations for an energy company. A Bureau of Land Management (BLM) Wyoming State Chief Ranger received information that contractors were dumping waste on well pads leased from the BLM. The waste had been generated from oil-water separators and maintenance operations performed on produced water storage tanks. Well pads are areas approved by the BLM for the drilling of gas or oil wells pursuant to approved plans and conditions.

    The defendants instructed other crew members to “dig a hole and dump stuff from the junk tank” into the pit, and to backfill the hole. The affected area is known as the East Echo Springs Saltwater disposal facility (Echo Springs), located in Carbon County, Wyoming. Echo Springs was only permitted for the disposal of produced water, a byproduct of oil and gas extraction, through injection deep into the ground. The site was not permitted for burying solid oil waste. Approximately 10 barrels of this oil waste material was buried at the direction of the defendants.

    Soil samples taken by investigators of this buried material showed levels of total petroleum hydrocarbons at 15,200 ppm, 16,100 ppm, and 11,000 ppm. In comparison, an uncontaminated soil sample at the site measured a total petroleum hydrocarbon level of 18 ppm.

    Orchard and Crawford admitted they signed off on daily work tickets and invoices for this and other work they directed.

    The Bureau of Land Management and the U.S. Environmental Protection Agency Criminal Investigation Division conducted the investigation.

    United States v. Jose Daniel Santiago-Mendoza, et al.

    • No. 1:25-CR-00305 (Southern District of Texas)
    • AUSA William Hagen

    On June 9, 2025, Jose Daniel Santiago-Mendoza pleaded guilty to violating the Lacey Act for unlawfully transporting fish taken from the Gulf of America. Co-defendants Jesus David Luna-Martinez and Jesus Roberto Morales-Amador previously pleaded guilty to the same charge (16 U.S.C. § 3372(a)(1)). Miguel Angel Ramirez-Vidal is scheduled for trial to begin on July 14, 2025.

    On April 17, 2025, the defendants attempted to transport and export roughly 315 kilograms of red snapper illegally taken from U.S. waters to sell in Mexico. Authorities observed the crew’s panga-style fishing vessel in the Gulf of America, seven miles north of the U.S.-Mexico maritime boundary line and 21 miles east of South Padre Island. The defendants’ fishing vessel was unmarked and unregistered. It was not flying the flag of any nation and operating without running lights. The defendants were using more than four thousand yards of heavy nylon fishing line and 1,200 fishing hooks. None of the crew members possessed a permit to fish in U.S. waters nor did any hold a quota for red snapper.

    Homeland Security Investigations, the U.S. Coast Guard, Customs and Border Protection Air and Marine Operations, National Oceanic and Atmospheric Administration, Texas Parks and Wildlife, and the South Padre Island Police Department conducted the joint investigation.

    Illegally taken Red Snapper and Gear.

    Related Press Release: Southern District of Texas | Mexican commercial fishermen plead guilty to illegal red snapper harvesting | United States Department of Justice

    United States v. Angela Amponsa

    • No. 2:25-mj-01106 (District of New Jersey)
    • ECS Senior Trial Attorney RJ Powers
    • RCEC Jason Garelick

    On June 10, 2025, Angela Amponsa pleaded guilty to violating the Federal Insecticide, Fungicide, and Rodenticide Act  (7 U.S.C. §§ 136j(a)(l)(A),136l(b)(l)(B)).  Sentencing is scheduled for October 14, 2025.

    Amponsa owned the New Jersey African Caribbean Market in Hamilton, New Jersey. On two separate occasions, she knowingly sold the pesticides Sniper DDVP and Spri Gone to an undercover Environmental Protection Agency (EPA) agent. These products are not EPA-registered.

    Authorities executed a federal search warrant at the market and seized approximately 1,100 bottles of unregistered pesticides.  When questioned by authorities, Amponsa admitted that she sold unregistered pesticides knowing they were illegal in the U.S. 

    The U.S. Environmental Protection Agency Criminal Investigation Division conducted the investigation. 

    United States v. Shaylynn Kolwyck-Peterson

    • No. 4:25-CR-00699 (District of South Carolina)
    • ECS Senior Trial Attorney Patrick Duggan

    On June 10, 2025, Shaylynn Kolwyck-Peterson pleaded guilty to a one-count information charging her with a felony Lacey Act false labeling violation (16 U.S.C. §§ 3372 (d)(2), 3373(d)(3)(A)). The charge stems from her sale of a chimpanzee to Doc Antle in South Carolina. Sentencing has not been scheduled.

    Sunshine Zoological Preserve, LLC, is a private for-profit roadside zoo in North Florida owned and managed by the Kolwyck family. Sunshine Zoological is believed to be the only facility in the U.S. breeding chimpanzees for private/non-scientific purposes.

    Shaylynn Kolwyck drove a newborn chimpanzee to Doc Antle in South Carolina, where Antle paid her $200,000. She then called Antle to offer another juvenile chimpanzee, and Antle paid her an additional $200,000 in cash for it.

    The U.S. Fish and Wildlife Service obtained paperwork for both sales, which falsely listed the sales as non-commercial intrastate “transfers” from Sunshine Zoological in Florida to Antle’s South Carolina facility.

    The Federal Bureau of Investigation and the U.S. Fish and Wildlife Service Office of Law Enforcement conducted the investigation.

    United States v. Paul Jacob Elliott Sommers

    • No. 3:24-CR-01659 (Western District of Texas)
    • ECS Senior Trial Attorney Gary Donner
    • ECS Trial Attorney Leigh Rendé
    • ECS Law Clerk Amanda Backer

    On June 10, 2025, Paul Jacob Elliott Sommers pleaded guilty to smuggling wildlife into the United States (18 U.S.C. § 545).

    As part of an investigation into illegal wildlife trafficking from Mexico into the U.S., authorities uncovered Mexico-based reptile suppliers who trafficked wildlife to U.S. based-customers. Over a period of four years, Sommers purchased wildlife from Mexico and coordinated with others to capture and transport the animals across the El Paso border. Sommers then sold the animals to customers in the U.S.

    The U.S. Fish and Wildlife Service Office of Law Enforcement conducted the investigation.

    United States v. Dumitru Cicai

    • No. 3:25-CR-02276 (Southern District of California)
    • AUSA Emily Allen

    On June 10, 2025, Dumitru Cicai pleaded guilty to smuggling (18 U.S.C. § 545). Sentencing is scheduled for August 28, 2025.

    On March 31, 2025, Cicai was caught smuggling 24 one-liter bottles of Taktic pesticide into the United States. As he drove into the United States at the San Ysidro Port of Entry, Cicai told the Customs and Border Patrol (CBP) primary inspection officer that he had nothing to declare. Upon inspecting the vehicle, the primary officer discovered multiple pieces of natural wood branches in the vehicle’s trunk and large bottles concealed in black bags.

    When questioned by the secondary CBP officer, Cicai said he only had wood to declare, nothing else. Upon closer inspection, officers found 24 bottles of pesticide labeled “Taktic.”

    Taktic contains the active ingredient amitraz at an emulsifiable concentration of 12.5 percent. Under U.S. Environmental Protection Agency regulations, amitraz in this form is a cancelled and unregistered pesticide in the United States.

    The U.S. Environmental Protection Agency Criminal Investigation Division and Homeland Security Investigations conducted the investigation. 

    United States v. Isidoro Chaparro Sanchez, et al.

    • No. 5:24-CR-00209 (Central District of California)
    • AUSA Corey Burleson
    • AUSA Dennis Mitchell

    On June 16, 2025, Cirilo Esquivel Alcantar pleaded guilty to operating cockfighting events in San Bernardino County and sponsoring and exhibiting roosters in an animal fighting venture (7 U.S.C. § 2156(a)(1)). Alcantar, the fifth and final defendant to plead guilty in this case, is scheduled for sentencing on October 6, 2025.

    Between May 2023 and July 2024, Alcantar, along with Luis Octavio Angulo, Sergio Jimenez Maldonado, Eva Anilu Pastor Uriostegui, and Isidoro Chaparro Sanchez organized and facilitated cockfighting events in Muscoy, California. The defendants held events on Sundays during the cockfighting “season.” Individuals brought roosters to fight, often drawing more than 100 spectators to each event.

    Attendees paid $20 to park at a different location nearly one mile away from the event location. They were then shuttled to the cockfighting location, where they paid another fee – usually $40 – to enter the arena where the fights took place. Attendees could also place bets on the cockfights and participate in a raffle.

    Cockfighters paid a fee to enter their roosters into fights ($1,000 for four roosters) with several fights scheduled for the day. Before the fights, a sharp blade, known as a “gaff,” was often attached to each rooster’s leg. At times, the fights ended in the death of one or both roosters.

    Sanchez, Angulo, Uriostegui, and Maldanado pleaded guilty to conspiracy (18 U.S.C. § 371). They are respectively scheduled for sentencing on August 18th, August 25th, September 9th, and October 6, 2025.

    The Federal Bureau of Investigation conducted the investigation. 

    United States v. Erie Coke Corporation, et al.

    • No. 1:22-CR-00023 (Western District of Pennsylvania)
    • AUSA Nicole Vasquez Schmitt
    • AUSA Michael L. Ivory

    On June 17, 2025, Erie Coke Corporation (ECC) pleaded guilty to conspiracy and to a Clean Air Act Title V (CAA) violation for knowingly emitting unburned or raw coke oven gas, a hazardous air pollutant, in violation of its permit (18 U.S.C. § 371; 42 U.S.C. § 7413(c)(1)). Sentencing is scheduled for October 7, 2025.

    ECC owned a coke manufacturing plant in Erie, Pennsylvania. The facility was located along Lake Erie, adjacent to the inlet to Presque Isle Bay. A number of private residences, public facilities, and several schools were nearby.

    Turning coal into coke generates a variety of pollutants, including volatile gases such as benzene, toluene, and xylene, as well as particulate matter. The facility operated under a CAA Title V permit issued by the U.S. Environmental Protection Agency. This permit prohibited the company from emitting coke oven gas into the outdoor air without burning the gas first. The company also used a Continuous Opacity Monitor (COM) to measure its opacity levels, another way to monitor particulate matter emissions. Authorities required ECC to install the COM as part of a state enforcement action. The company previously violated its Title V permit and state air pollution laws, including exceeding opacity levels from the coke oven battery stack. As a result, ECC implemented additional remedial measures to reduce emissions to resolve an EPA civil enforcement action.

    However, ECC and employees continued to violate the CAA by, among other things, removing caps on heating flues atop the coke oven batteries to allow combustion gases to vent directly into the air and bypassing the plant’s environmental monitoring system. ECC then submitted emissions monitoring data to regulators each quarter that underrepresented the number of emissions.

    The U.S. Environmental Protection Agency Criminal Investigation Division conducted the investigation.

    Related Press Release: Western District of Pennsylvania | Erie Coke Corporation Pleads Guilty to Air Emissions Violations | United States Department of Justice

    United States v. Jerrod R. Farr, et al.

    • No. 4:24-CR-00061 (District of Idaho)
    • AUSA Justin Paskett

    On June 23, 2025, Jerrod Farr pleaded guilty to violating the Lacey Act (16 U.S.C. §§ 3372(a)(1), 3373(d)(2)). Sentencing is scheduled for September 15, 2025. Co-defendant Michael T. Scott remains charged in a six- count indictment with violating the Lacey Act, providing false or fictitious information to a Forest Service officer, and conducting work activity without a special-use authorization (16 U.S.C. §§ 551, 3372(a)(1), 3373(d)(2)).

    Farr owned and operated White Cloud Outfitters (WCO), a commercial outfitting and guiding business. Farr sold and facilitated Rocky Mountain Big Horn Sheep hunts in an area of the Salmon-Challis National Forest that is closed to commercial guiding. Working as a licensed guide for WCO, Scott illegally guided those hunts.

    The U.S. Fish and Wildlife Service Office of Law Enforcement, the U.S. Forest Service, and the Idaho Department of Fish and Game conducted the investigation.

    United States v. Matanuska Diesel, LLC, et al.

    • No. 3:23-CR-00109 (District of Alaska)
    • AUSA Jennifer Ivers
    • RCEC Karla Perrin

    On June 30, 2025, Matanuska Diesel, LLC, and company owner Mackenzie Spurlock pleaded guilty to violating the Clean Air Act for removing air pollution control equipment and tampering with federally mandated monitoring devices on diesel vehicles (42 U.S.C. § 7413(c)(2)(C)).

    Between July 2020 and June 2022, Matanuska Diesel and Spurlock removed air pollution control equipment and tampered with federally mandated monitoring devices on diesel vehicles. The process of removing emissions control systems and reprogramming a vehicle’s onboard diagnostic system is known as “deleting” and “tuning.” These unlawful modifications result in a significant increase in pollutants emitted by the vehicle. The defendants tampered with approximately nine trucks, charging between $1,200 and $5,000 per vehicle for those services.

    The U.S. Environmental Protection Agency Criminal Investigation Division conducted the investigation.

    Sentencings

    United States v. Brandon Baker, et al.

    • No. 1:24-CR-00005 (Middle District of Georgia)
    • ECS Senior Trial Attorney Ethan Eddy
    • ECS Trial Attorney Leigh Rende
    • AUSA Leah McEwen
    • ECS Law Clerk Amanda Backer

    On June 4 and 5, 2025, a court sentenced Brandon Baker and Marvin Pulley, III. Baker will serve 20 months’ incarceration followed by two years of supervised release. Baker also will pay $13,307 in restitution. Pulley will serve 30 months’ incarceration and three years of supervised release. Pulley will pay $33,887 in restitution. They were the final defendants involved in this large-scale dog fighting event.

    On April 24, 2022, the defendants held a dog fight in Donalsonville, Georgia, that authorities disrupted while in progress. The defendants brought 24 pit bull-type dogs to fight in a series of matches over that weekend.

    The participants used their cars to store dogs who had fought, as well as those awaiting their turn in the fighting pit. Dogs found in cars bore recent injuries and scars. Additional dogs were kept on chains on the property. Law enforcement rescued 27 dogs, including a badly injured dog that later died from its injuries.

    On May 13 and 14, 2025, the court imposed sentences ranging from probation to 100 months of incarceration on 11 co-defendants. All were ordered to pay restitution to the U.S. Marshall’s Service for the costs of caring for the seized animals.

    The U.S. Department of Agriculture Office of the Inspector General and the Seminole County, Georgia, Sheriff’s Office conducted the investigation, with assistance from the Bay County, Florida, Sheriff’s Office.

    United States v. All Out Diesel, et al.

    • No. 4:24-CR-00626 (Eastern District of Missouri)
    • AUSA Dianna Edwards

    On June 6, 2025, a court sentenced All Out Diesel, LLC, and company owner Joseph Easter, to pay a $100,000 fine.  The company is jointly liable for the fine and will complete a three-year term of probation, while Easter will complete a five-year term of probation. Both pleaded guilty to violating the Clean Air Act (CAA) for illegally tampering with a federally mandated monitoring device (42 U.S.C. § 7413(c)(2)(C)).

    Truck owners who have removed (or “deleted”) their vehicle’s factory-installed emission control devices need devices that carry electronic files/software coding (”tunes”) designed to override the vehicle’s original computer programming. All Out Diesel custom altered tunes and sold them throughout the United States. The defendants’ tunes enabled deleted trucks to operate without emission control devices.

    The defendants knowingly falsified, tampered with, and rendered inaccurate at least 75 monitoring devices that were required to be maintained under the CAA.

    The United States Environmental Protection Agency Criminal Investigation Division conducted the investigation.

    United States v. Fabcon Precast LLC

    • No. 2:25-CR-00020 (Southern District of Ohio)
    • ECS Senior Trial Attorney Adam Cullman

    On June 9, 2025, a court sentenced Fabcon Precast LLC (“Fabcon”) to pay a $500,000 fine, complete a two-year term of probation and enact a Safety Compliance Plan. Fabcon pleaded guilty to willfully violating the Occupational Safety and Health Act (OSHA) causing the death of an employee (29 U.S.C. § 666(e)).

    Fabcon operates several facilities in the United States, including one in Grove City, Ohio, that manufactures precast concrete panels. At Fabcon, employees known as batch operators were responsible for the operation and cleaning of the facility’s only concrete mixer. Concrete was discharged from the bottom of the mixer through a pneumatic door. By design, the mixer had an exhaust valve that released the pneumatic energy powering the discharge door, rendering it inoperable.

    On the day of the incident, batch operator Zachary Ledbetter was on duty when the discharge door failed to close after releasing a batch of concrete. Some months before the incident, the handle that operated the exhaust valve broke off and was not replaced. Because the valve was broken, Ledbetter could not perform the proper procedure to make the door safe to work around. When he attempted to free the door it closed on his head, trapping him. Ledbetter was transported to a hospital where he died five days later.

    The U.S. Department of Labor Office of Inspector General conducted the investigation.

    Related Press Release: Office of Public Affairs | Ohio Company Sentenced for Violating OSHA Rule Leading to Worker’s Death | United States Department of Justice

    United States v. Jose Manuel Valenzuela

    • No. 3:24-CR-01037 (Southern District of California)
    • ECS Assistant Chief Stephen Da Ponte
    • AUSA Laura Sambataro

    On June 10, 2025, a court sentenced Jose Manuel Valenzuela to complete a three-year term of probation and pay $7,399 in restitution. Valenzuela pleaded guilty to intentionally failing to present refrigerant tanks for inspection (19 U.S.C. §§ 1433, 1436).

    On April 22, 2024, Valenzuela, an HVAC technician, attempted to enter the United States from Mexico without declaring four 24-pound tanks of 404A refrigerant (hydrofluorocarbon refrigerants) that were in his vehicle.

    Customs and Border Protection, Homeland Security Investigations, and the U.S. Environmental Protection Agency Criminal Investigation Division conducted the investigation.

    United States v. Bhagavan “Doc” Antle, et al.

    • No. 4:22-CR-00580 (District of South Carolina)
    • ECS Senior Trial Attorney Patrick Duggan
    • AUSA Derek A. Shoemake
    • AUSA Amy Bower
    • ECS Paralegal Jillian Grubb

    On June 10, 2025, a court sentenced Andrew Sawyer to complete a two-year term of probation to include 240 days of home confinement. Sawyer will also forfeit a chimpanzee to the Center for Great Apes, located in Wauchula, Florida. Jason Clay was sentenced to serve four months incarceration, followed by 120 days of home confinement and one year of supervised release. Clay will pay a $4,000 fine into the Lacey Act Reward Fund. On July 8, 2025, Bhagavan “Doc” Antle was sentenced to 12 months in prison and ordered to pay a $55,000 fine, serve three years of supervised release, and forfeit three chimpanzees and more than $197,000.

    Antle owned and operated The Institute for Greatly Endangered and Rare Species (T.I.G.E.R.S.), also known as the Myrtle Beach Safari. The Myrtle Beach Safari is a 50-acre tropical wildlife preserve in Myrtle Beach. Sawyer worked with Antle, and Clay owned and operated the Franklin Drive Thru Safari, a for-profit corporation that also housed captive exotic species and sold tours.

    Antle and Clay illegally trafficked in wildlife (including lemurs, cheetahs, and a chimpanzee) and falsified records in violation of the Endangered Species Act and the Lacey Act. Additionally, Antle and Sawyer laundered more than $500,000 in cash derived from an operation to smuggle illegal immigrants across the Mexican border into the United States. Antle further planned to conceal the cash he received by inflating tourist numbers at the Myrtle Beach Safari. All three pleaded guilty to conspiracy (18 U.S.C. § 371).

    The Federal Bureau of Investigation and the U.S. Fish and Wildlife Service Office of Law Enforcement conducted the investigation.

    United States v. Hollis G. Hale, et al.

    • Nos. 4:25-CR-00018, 4:24-CR-00006 (District of Montana)
    • ECS Senior Trial Attorney Patrick Duggan
    • ECS Trial Attorney Sarah Brown
    • AUSA Jeff Starnes

    On June 11, 2025, a court sentenced Hollis G. Hale to pay a $35,000 fine, complete a four-year term of probation, and perform 100 hours of community service. Hale pleaded guilty to violating the Lacey Act and the Endangered Species Act (16 U.S.C. §§ 1538(a)(1)(G), 3372(d)(2), 3373(d)(3)(B)). Hale conspired with Jack Schubarth to create giant hybrid sheep for captive hunting. Schubarth smuggled Marco Polo argali sheep parts from Kyrgyzstan into the United States. This protected species of sheep, native to high elevations in the Pamir region of Central Asia, is considered the largest in the world.

    Hale facilitated the purchase and interstate transport of twelve hybrid Marco Polo Argali sheep from Schubarth and falsely identified 43 species of sheep on a Certificate of Veterinary Inspection. Hale falsified these documents, knowing these sheep are prohibited in Montana. Schubarth was sentenced in September 2024 to six months’ incarceration, followed by three years’ supervised release.

    The U.S. Fish and Wildlife Service Office of Law Enforcement and the Montana Department of Fish, Wildlife, and Parks conducted the investigation.

    View All Environmental Crimes Bulletins

    MIL Security OSI –

  • MIL-OSI USA: Protected: Glenn Extreme Environments Rig (GEER)

    Source: NASA

    GEER is a world-class facility designed to simulate extreme environments. 
    The Surface of Venus – Here on Earth 
    The Glenn Extreme Environments Rig (GEER) is a high-tech pressure vessel capable of simulating the temperature, pressure, and atmospheric gas mix of many extreme environments in the solar system and beyond. 
    These capabilities enable unique science investigations, provide the ability to conduct risk-reduction tests on proposed planetary equipment, and allow breakthroughs in a multitude of disciplines. 
    GEER is located at NASA’s Glenn Research Center in Cleveland and is currently configured to simulate the atmospheric and surface conditions of Venus. 
    Achievements 
    In its short operational history, GEER has successfully supported many projects, scientists, and technologists. 

    Contributed to several peer-reviewed papers and numerous conference presentations 

    Produced over 42 publications, abstracts, news articles, and more 

    Logged over 6,600 hours simulating Venus’s surface for various tests and experiments. 

    GEER has supported multiple science investigations and studies including: 

    Technology demonstrations and Venus’s lander mission capability 

    Venus’s weathering and geologic science 

    Exposure of various minerals, basalts, and glasses for various time scales 

    Near-surface chemical reactions 

    Venus atmospheric physics 

    Simulations of ascent / descent through the Venusian atmosphere 

    Testing of different gas mixtures to better understand climate modeling 

    Capabilities 

    GEER 
    NASA’s GEER test chamber can be customized for specific conditions or requirements. The facility has been upgraded to allow the transfer of power and data from a test article while under Venus’s surface conditions. The standard capabilities include: 

    Dimensions: 3’ ID x 4’ L (internal) – volume: 811 L 

    Pressure (operating): vacuum – 1365 psia (94 bar) 

    Temperature (operating): ambient – 1000 °F (538 °C) 

    Gases: 8 specialty gases + 1 liquid 

    Level of accuracy: ppm 

    Power: now supported by a backup power system 

    The GEER chamber can achieve pressures from ambient to 1365 PSI, reach temperatures over 500C, and precisely control gas composition for continuous periods of time, exceeding several months. 

    The End Cap weighs as much as a standard-size SUV. 

    There is over 2 million pounds of force on the End Cap at our typical operating conditions. 

    It takes 330 bolts to hold the End Cap on 

    Has operated at Venus conditions for a total of 298.5 Earth Days as of Summer 2019 

    GEER grows ½” longer and increases its volume by more than 19 L at typical test conditions. 

    We report our emissions to the EPA every year – our total yearly emissions fall under our daily emissions limit!! 

    Mini GEER 
    NASA Glenn also has a smaller test vessel that can simulate many of the same conditions as the larger GEER test facility – but allows a quicker turnaround and lower operating costs. 
    The capabilities of Mini GEER include: 

    Dimensions: 5” ID x 12” L (internal) – initial volume: 4 L 

    Pressure (operating): vacuum (rough) – 2706 psia (186 bar) 

    Temperature (operating): ambient – 950 °F (510 °C) 

    Gases: tri-gas (customizable pre-mix) 

    Currently only pre-mix, but is designed to tie into gas mixing infrastructure. 

    Advantageous for science experiments and material sample experiments – its size makes it more sensitive for analytics. 

    MiniGEER shares analytics infrastructure with GEER – GC & Mass Spec 

    Shares Trained Personnel with GEER 

    Team Approach: Integrated, Multi-Disciplinary, & Experienced 
    GEER Test Ops Team Capabilities Highlights 

    Custom test article support hardware design and fabrication 

    Custom test process system design and fabrication 

    Operational history with extreme environments – The GEER Team has accumulated over a Venus year simulating Venus Surface Conditions inside of GEER. 

    Integrated, Multi-Disciplinary Expertise 

    Local access to: 

    Materials expertise 

    Surface Science Analysis 

    Scanning Electron Microscope (SEM) imaging 

    X-Ray Diffraction (XRD) imaging 

    Electron Dispersive X-Ray Spectroscopy (EDS) analysis 

    Mass Spectrometry gas analysis expertise 

    We Seek to Serve: Supporting Missions & Multiple Communities 
    Test Article Categories 

    Active: test articles that have data and/or power needs while testing inside of the GEER Vessel 

    Passive: test articles that have material and/or component samples that are not powered and do not need data 

    Research Categories 

    Fundamental Science (e.g., gas dynamics & property studies) 

    Material Exposure (e.g., geology samples, basic materials, advanced materials, electronics, etc.) 

    Technology Development (e.g., component and/or sub-system testing) 

    Mission Risk Reduction (e.g., system testing) 

    Initiating Projects 

    Contact the GEER PM or GEER FM 

    Versatility 
    Technology Development 

    Feedthroughs – developed at GRC, data & power. 

    Extreme Environments Electronics – developed at GRC. 

    Chemical Sensors – industry partnership enabling in-situ chemical species measurements. 

    Science Testing 

    Ongoing materials studies (man-made and geologic) 

    Has enabled both the understanding of how geology may behave on Venus and which materials/designs may be best for a future lander. 

    Stratification Test 

    Objective was to determine whether CO2 and N2 may stratify in the lower Venusian atmosphere. 
    Taught us a lot about the behavior of that mixture, and also about GEER operations. 
    Mission Support 

    Juno – active mission support 

    Ready & Up for Challenges 

    Ready & Up for the Challenges – Our systems continue to mature and we’re always up for a challenge. 

    What do the missions need? 
    What does the community need? 

    Extensibility – GEER is constantly evolving to meet the needs of customers now and in the future through constant adaptation and upgrades: 

    Recent enhancements 

    Passive sample prep station 

    New Fume hood for sample preparations 

    New Photo booth for documentation 

    4-Column GC 

    Planned enhancements (currently in progress) 

    Automated GC sampling 

    Upgraded Mass Spectrometer 

    Increased Operations Training 

    Contact Us
    Please submit all inquiries to:
    Ike Chi, Glenn Extreme Environments Rig (GEER) Project Manager
    su.c.chi@nasa.gov

    MIL OSI USA News –

  • MIL-OSI USA: Protected: Glenn Extreme Environments Rig (GEER)

    Source: NASA

    GEER is a world-class facility designed to simulate extreme environments. 
    The Surface of Venus – Here on Earth 
    The Glenn Extreme Environments Rig (GEER) is a high-tech pressure vessel capable of simulating the temperature, pressure, and atmospheric gas mix of many extreme environments in the solar system and beyond. 
    These capabilities enable unique science investigations, provide the ability to conduct risk-reduction tests on proposed planetary equipment, and allow breakthroughs in a multitude of disciplines. 
    GEER is located at NASA’s Glenn Research Center in Cleveland and is currently configured to simulate the atmospheric and surface conditions of Venus. 
    Achievements 
    In its short operational history, GEER has successfully supported many projects, scientists, and technologists. 

    Contributed to several peer-reviewed papers and numerous conference presentations 

    Produced over 42 publications, abstracts, news articles, and more 

    Logged over 6,600 hours simulating Venus’s surface for various tests and experiments. 

    GEER has supported multiple science investigations and studies including: 

    Technology demonstrations and Venus’s lander mission capability 

    Venus’s weathering and geologic science 

    Exposure of various minerals, basalts, and glasses for various time scales 

    Near-surface chemical reactions 

    Venus atmospheric physics 

    Simulations of ascent / descent through the Venusian atmosphere 

    Testing of different gas mixtures to better understand climate modeling 

    Capabilities 

    GEER 
    NASA’s GEER test chamber can be customized for specific conditions or requirements. The facility has been upgraded to allow the transfer of power and data from a test article while under Venus’s surface conditions. The standard capabilities include: 

    Dimensions: 3’ ID x 4’ L (internal) – volume: 811 L 

    Pressure (operating): vacuum – 1365 psia (94 bar) 

    Temperature (operating): ambient – 1000 °F (538 °C) 

    Gases: 8 specialty gases + 1 liquid 

    Level of accuracy: ppm 

    Power: now supported by a backup power system 

    The GEER chamber can achieve pressures from ambient to 1365 PSI, reach temperatures over 500C, and precisely control gas composition for continuous periods of time, exceeding several months. 

    The End Cap weighs as much as a standard-size SUV. 

    There is over 2 million pounds of force on the End Cap at our typical operating conditions. 

    It takes 330 bolts to hold the End Cap on 

    Has operated at Venus conditions for a total of 298.5 Earth Days as of Summer 2019 

    GEER grows ½” longer and increases its volume by more than 19 L at typical test conditions. 

    We report our emissions to the EPA every year – our total yearly emissions fall under our daily emissions limit!! 

    Mini GEER 
    NASA Glenn also has a smaller test vessel that can simulate many of the same conditions as the larger GEER test facility – but allows a quicker turnaround and lower operating costs. 
    The capabilities of Mini GEER include: 

    Dimensions: 5” ID x 12” L (internal) – initial volume: 4 L 

    Pressure (operating): vacuum (rough) – 2706 psia (186 bar) 

    Temperature (operating): ambient – 950 °F (510 °C) 

    Gases: tri-gas (customizable pre-mix) 

    Currently only pre-mix, but is designed to tie into gas mixing infrastructure. 

    Advantageous for science experiments and material sample experiments – its size makes it more sensitive for analytics. 

    MiniGEER shares analytics infrastructure with GEER – GC & Mass Spec 

    Shares Trained Personnel with GEER 

    Team Approach: Integrated, Multi-Disciplinary, & Experienced 
    GEER Test Ops Team Capabilities Highlights 

    Custom test article support hardware design and fabrication 

    Custom test process system design and fabrication 

    Operational history with extreme environments – The GEER Team has accumulated over a Venus year simulating Venus Surface Conditions inside of GEER. 

    Integrated, Multi-Disciplinary Expertise 

    Local access to: 

    Materials expertise 

    Surface Science Analysis 

    Scanning Electron Microscope (SEM) imaging 

    X-Ray Diffraction (XRD) imaging 

    Electron Dispersive X-Ray Spectroscopy (EDS) analysis 

    Mass Spectrometry gas analysis expertise 

    We Seek to Serve: Supporting Missions & Multiple Communities 
    Test Article Categories 

    Active: test articles that have data and/or power needs while testing inside of the GEER Vessel 

    Passive: test articles that have material and/or component samples that are not powered and do not need data 

    Research Categories 

    Fundamental Science (e.g., gas dynamics & property studies) 

    Material Exposure (e.g., geology samples, basic materials, advanced materials, electronics, etc.) 

    Technology Development (e.g., component and/or sub-system testing) 

    Mission Risk Reduction (e.g., system testing) 

    Initiating Projects 

    Contact the GEER PM or GEER FM 

    Versatility 
    Technology Development 

    Feedthroughs – developed at GRC, data & power. 

    Extreme Environments Electronics – developed at GRC. 

    Chemical Sensors – industry partnership enabling in-situ chemical species measurements. 

    Science Testing 

    Ongoing materials studies (man-made and geologic) 

    Has enabled both the understanding of how geology may behave on Venus and which materials/designs may be best for a future lander. 

    Stratification Test 

    Objective was to determine whether CO2 and N2 may stratify in the lower Venusian atmosphere. 
    Taught us a lot about the behavior of that mixture, and also about GEER operations. 
    Mission Support 

    Juno – active mission support 

    Ready & Up for Challenges 

    Ready & Up for the Challenges – Our systems continue to mature and we’re always up for a challenge. 

    What do the missions need? 
    What does the community need? 

    Extensibility – GEER is constantly evolving to meet the needs of customers now and in the future through constant adaptation and upgrades: 

    Recent enhancements 

    Passive sample prep station 

    New Fume hood for sample preparations 

    New Photo booth for documentation 

    4-Column GC 

    Planned enhancements (currently in progress) 

    Automated GC sampling 

    Upgraded Mass Spectrometer 

    Increased Operations Training 

    Contact Us
    Please submit all inquiries to:
    Ike Chi, Glenn Extreme Environments Rig (GEER) Project Manager
    su.c.chi@nasa.gov

    MIL OSI USA News –

  • MIL-OSI USA: Protected: Glenn Extreme Environments Rig (GEER)

    Source: NASA

    GEER is a world-class facility designed to simulate extreme environments. 
    The Surface of Venus – Here on Earth 
    The Glenn Extreme Environments Rig (GEER) is a high-tech pressure vessel capable of simulating the temperature, pressure, and atmospheric gas mix of many extreme environments in the solar system and beyond. 
    These capabilities enable unique science investigations, provide the ability to conduct risk-reduction tests on proposed planetary equipment, and allow breakthroughs in a multitude of disciplines. 
    GEER is located at NASA’s Glenn Research Center in Cleveland and is currently configured to simulate the atmospheric and surface conditions of Venus. 
    Achievements 
    In its short operational history, GEER has successfully supported many projects, scientists, and technologists. 

    Contributed to several peer-reviewed papers and numerous conference presentations 

    Produced over 42 publications, abstracts, news articles, and more 

    Logged over 6,600 hours simulating Venus’s surface for various tests and experiments. 

    GEER has supported multiple science investigations and studies including: 

    Technology demonstrations and Venus’s lander mission capability 

    Venus’s weathering and geologic science 

    Exposure of various minerals, basalts, and glasses for various time scales 

    Near-surface chemical reactions 

    Venus atmospheric physics 

    Simulations of ascent / descent through the Venusian atmosphere 

    Testing of different gas mixtures to better understand climate modeling 

    Capabilities 

    GEER 
    NASA’s GEER test chamber can be customized for specific conditions or requirements. The facility has been upgraded to allow the transfer of power and data from a test article while under Venus’s surface conditions. The standard capabilities include: 

    Dimensions: 3’ ID x 4’ L (internal) – volume: 811 L 

    Pressure (operating): vacuum – 1365 psia (94 bar) 

    Temperature (operating): ambient – 1000 °F (538 °C) 

    Gases: 8 specialty gases + 1 liquid 

    Level of accuracy: ppm 

    Power: now supported by a backup power system 

    The GEER chamber can achieve pressures from ambient to 1365 PSI, reach temperatures over 500C, and precisely control gas composition for continuous periods of time, exceeding several months. 

    The End Cap weighs as much as a standard-size SUV. 

    There is over 2 million pounds of force on the End Cap at our typical operating conditions. 

    It takes 330 bolts to hold the End Cap on 

    Has operated at Venus conditions for a total of 298.5 Earth Days as of Summer 2019 

    GEER grows ½” longer and increases its volume by more than 19 L at typical test conditions. 

    We report our emissions to the EPA every year – our total yearly emissions fall under our daily emissions limit!! 

    Mini GEER 
    NASA Glenn also has a smaller test vessel that can simulate many of the same conditions as the larger GEER test facility – but allows a quicker turnaround and lower operating costs. 
    The capabilities of Mini GEER include: 

    Dimensions: 5” ID x 12” L (internal) – initial volume: 4 L 

    Pressure (operating): vacuum (rough) – 2706 psia (186 bar) 

    Temperature (operating): ambient – 950 °F (510 °C) 

    Gases: tri-gas (customizable pre-mix) 

    Currently only pre-mix, but is designed to tie into gas mixing infrastructure. 

    Advantageous for science experiments and material sample experiments – its size makes it more sensitive for analytics. 

    MiniGEER shares analytics infrastructure with GEER – GC & Mass Spec 

    Shares Trained Personnel with GEER 

    Team Approach: Integrated, Multi-Disciplinary, & Experienced 
    GEER Test Ops Team Capabilities Highlights 

    Custom test article support hardware design and fabrication 

    Custom test process system design and fabrication 

    Operational history with extreme environments – The GEER Team has accumulated over a Venus year simulating Venus Surface Conditions inside of GEER. 

    Integrated, Multi-Disciplinary Expertise 

    Local access to: 

    Materials expertise 

    Surface Science Analysis 

    Scanning Electron Microscope (SEM) imaging 

    X-Ray Diffraction (XRD) imaging 

    Electron Dispersive X-Ray Spectroscopy (EDS) analysis 

    Mass Spectrometry gas analysis expertise 

    We Seek to Serve: Supporting Missions & Multiple Communities 
    Test Article Categories 

    Active: test articles that have data and/or power needs while testing inside of the GEER Vessel 

    Passive: test articles that have material and/or component samples that are not powered and do not need data 

    Research Categories 

    Fundamental Science (e.g., gas dynamics & property studies) 

    Material Exposure (e.g., geology samples, basic materials, advanced materials, electronics, etc.) 

    Technology Development (e.g., component and/or sub-system testing) 

    Mission Risk Reduction (e.g., system testing) 

    Initiating Projects 

    Contact the GEER PM or GEER FM 

    Versatility 
    Technology Development 

    Feedthroughs – developed at GRC, data & power. 

    Extreme Environments Electronics – developed at GRC. 

    Chemical Sensors – industry partnership enabling in-situ chemical species measurements. 

    Science Testing 

    Ongoing materials studies (man-made and geologic) 

    Has enabled both the understanding of how geology may behave on Venus and which materials/designs may be best for a future lander. 

    Stratification Test 

    Objective was to determine whether CO2 and N2 may stratify in the lower Venusian atmosphere. 
    Taught us a lot about the behavior of that mixture, and also about GEER operations. 
    Mission Support 

    Juno – active mission support 

    Ready & Up for Challenges 

    Ready & Up for the Challenges – Our systems continue to mature and we’re always up for a challenge. 

    What do the missions need? 
    What does the community need? 

    Extensibility – GEER is constantly evolving to meet the needs of customers now and in the future through constant adaptation and upgrades: 

    Recent enhancements 

    Passive sample prep station 

    New Fume hood for sample preparations 

    New Photo booth for documentation 

    4-Column GC 

    Planned enhancements (currently in progress) 

    Automated GC sampling 

    Upgraded Mass Spectrometer 

    Increased Operations Training 

    Contact Us
    Please submit all inquiries to:
    Ike Chi, Glenn Extreme Environments Rig (GEER) Project Manager
    su.c.chi@nasa.gov

    MIL OSI USA News –

  • MIL-OSI USA: Protected: Glenn Extreme Environments Rig (GEER)

    Source: NASA

    GEER is a world-class facility designed to simulate extreme environments. 
    The Surface of Venus – Here on Earth 
    The Glenn Extreme Environments Rig (GEER) is a high-tech pressure vessel capable of simulating the temperature, pressure, and atmospheric gas mix of many extreme environments in the solar system and beyond. 
    These capabilities enable unique science investigations, provide the ability to conduct risk-reduction tests on proposed planetary equipment, and allow breakthroughs in a multitude of disciplines. 
    GEER is located at NASA’s Glenn Research Center in Cleveland and is currently configured to simulate the atmospheric and surface conditions of Venus. 
    Achievements 
    In its short operational history, GEER has successfully supported many projects, scientists, and technologists. 

    Contributed to several peer-reviewed papers and numerous conference presentations 

    Produced over 42 publications, abstracts, news articles, and more 

    Logged over 6,600 hours simulating Venus’s surface for various tests and experiments. 

    GEER has supported multiple science investigations and studies including: 

    Technology demonstrations and Venus’s lander mission capability 

    Venus’s weathering and geologic science 

    Exposure of various minerals, basalts, and glasses for various time scales 

    Near-surface chemical reactions 

    Venus atmospheric physics 

    Simulations of ascent / descent through the Venusian atmosphere 

    Testing of different gas mixtures to better understand climate modeling 

    Capabilities 

    GEER 
    NASA’s GEER test chamber can be customized for specific conditions or requirements. The facility has been upgraded to allow the transfer of power and data from a test article while under Venus’s surface conditions. The standard capabilities include: 

    Dimensions: 3’ ID x 4’ L (internal) – volume: 811 L 

    Pressure (operating): vacuum – 1365 psia (94 bar) 

    Temperature (operating): ambient – 1000 °F (538 °C) 

    Gases: 8 specialty gases + 1 liquid 

    Level of accuracy: ppm 

    Power: now supported by a backup power system 

    The GEER chamber can achieve pressures from ambient to 1365 PSI, reach temperatures over 500C, and precisely control gas composition for continuous periods of time, exceeding several months. 

    The End Cap weighs as much as a standard-size SUV. 

    There is over 2 million pounds of force on the End Cap at our typical operating conditions. 

    It takes 330 bolts to hold the End Cap on 

    Has operated at Venus conditions for a total of 298.5 Earth Days as of Summer 2019 

    GEER grows ½” longer and increases its volume by more than 19 L at typical test conditions. 

    We report our emissions to the EPA every year – our total yearly emissions fall under our daily emissions limit!! 

    Mini GEER 
    NASA Glenn also has a smaller test vessel that can simulate many of the same conditions as the larger GEER test facility – but allows a quicker turnaround and lower operating costs. 
    The capabilities of Mini GEER include: 

    Dimensions: 5” ID x 12” L (internal) – initial volume: 4 L 

    Pressure (operating): vacuum (rough) – 2706 psia (186 bar) 

    Temperature (operating): ambient – 950 °F (510 °C) 

    Gases: tri-gas (customizable pre-mix) 

    Currently only pre-mix, but is designed to tie into gas mixing infrastructure. 

    Advantageous for science experiments and material sample experiments – its size makes it more sensitive for analytics. 

    MiniGEER shares analytics infrastructure with GEER – GC & Mass Spec 

    Shares Trained Personnel with GEER 

    Team Approach: Integrated, Multi-Disciplinary, & Experienced 
    GEER Test Ops Team Capabilities Highlights 

    Custom test article support hardware design and fabrication 

    Custom test process system design and fabrication 

    Operational history with extreme environments – The GEER Team has accumulated over a Venus year simulating Venus Surface Conditions inside of GEER. 

    Integrated, Multi-Disciplinary Expertise 

    Local access to: 

    Materials expertise 

    Surface Science Analysis 

    Scanning Electron Microscope (SEM) imaging 

    X-Ray Diffraction (XRD) imaging 

    Electron Dispersive X-Ray Spectroscopy (EDS) analysis 

    Mass Spectrometry gas analysis expertise 

    We Seek to Serve: Supporting Missions & Multiple Communities 
    Test Article Categories 

    Active: test articles that have data and/or power needs while testing inside of the GEER Vessel 

    Passive: test articles that have material and/or component samples that are not powered and do not need data 

    Research Categories 

    Fundamental Science (e.g., gas dynamics & property studies) 

    Material Exposure (e.g., geology samples, basic materials, advanced materials, electronics, etc.) 

    Technology Development (e.g., component and/or sub-system testing) 

    Mission Risk Reduction (e.g., system testing) 

    Initiating Projects 

    Contact the GEER PM or GEER FM 

    Versatility 
    Technology Development 

    Feedthroughs – developed at GRC, data & power. 

    Extreme Environments Electronics – developed at GRC. 

    Chemical Sensors – industry partnership enabling in-situ chemical species measurements. 

    Science Testing 

    Ongoing materials studies (man-made and geologic) 

    Has enabled both the understanding of how geology may behave on Venus and which materials/designs may be best for a future lander. 

    Stratification Test 

    Objective was to determine whether CO2 and N2 may stratify in the lower Venusian atmosphere. 
    Taught us a lot about the behavior of that mixture, and also about GEER operations. 
    Mission Support 

    Juno – active mission support 

    Ready & Up for Challenges 

    Ready & Up for the Challenges – Our systems continue to mature and we’re always up for a challenge. 

    What do the missions need? 
    What does the community need? 

    Extensibility – GEER is constantly evolving to meet the needs of customers now and in the future through constant adaptation and upgrades: 

    Recent enhancements 

    Passive sample prep station 

    New Fume hood for sample preparations 

    New Photo booth for documentation 

    4-Column GC 

    Planned enhancements (currently in progress) 

    Automated GC sampling 

    Upgraded Mass Spectrometer 

    Increased Operations Training 

    Contact Us
    Please submit all inquiries to:
    Ike Chi, Glenn Extreme Environments Rig (GEER) Project Manager
    su.c.chi@nasa.gov

    MIL OSI USA News –

  • MIL-OSI USA: Launching the Extreme Heat Equipment Credit

    Source: US State of New York

    overnor Kathy Hochul today announced the launch of the New York State Insurance Fund (NYSIF)’s new Extreme Heat Equipment Credit. The credit helps qualifying small businesses protect their workers through the purchase of personal protective equipment (PPE) and supplies designed to minimize the effects of heat exposure.

    “Extreme weather events have unfortunately become our new normal, and here in New York, we are prioritizing resources to help our small businesses and workers statewide,” Governor Hochul said. “Our hardworking employees across the state deserve to have access to necessary benefits in instances of heat-related illnesses, especially those who work long hours outdoors.”

    With 2024 being the hottest year on record, and each year between 2015-24 ranking among the 10 hottest years on record, rising temperatures have become a critical occupational hazard for many industries. Extreme heat can lead to heat-related illnesses such as heat stroke and heat exhaustion and can exacerbate preexisting conditions such as asthma, kidney disease, or heart disease. Exposure to extreme heat can also impair cognitive and motor functions, increasing the risk of on-the-job accidents.

    The NYSIF Extreme Heat Equipment Credit is available to small businesses — up to 10 employees — in manufacturing, warehousing, carpentry, landscaping and farming; industries where workers are often exposed to extreme temperatures. These businesses can receive a one-time credit of $1,000 or 10 percent of their annual workers’ compensation premium, whichever is less, toward the purchase of PPE designed to protect workers from the effects of extreme heat.

    Today’s initiative is the latest in NYSIF’s commitment to promote worker safety and combat the effects of climate change. NYSIF recently expanded its Climate Action Premium Credit to additional providers of health care services as well as entities engaged in the medical supply chain. The program provides financial incentives and technical support for climate action planning and implementation.

    Eligible purchases under the NYSIF Extreme Heat Equipment Credit program include but are not limited to fans, ventilation systems, cooling vests, ventilated hard hats, UV-resistant safety glasses, and cooling towels. NYSIF policyholders that qualify can apply for the credit on the NYSIF website at nysif.com/ppe.

    New York State Insurance Fund Executive Director and CEO Gaurav Vasisht said, “As extreme heat becomes more frequent and severe, it’s critical that employers provide workers with protective equipment and safety gear to minimize risk. This program was designed for small businesses who may not have the resources of their larger competitors in helping workers stay safe and productive in the most demanding and heat-intensive work environments.”

    New York State Agriculture Commissioner Richard A. Ball said, “As we continue to see an increase in extreme heat across New York, preparation, communication and other precautions can save lives. It’s critical that we are working to provide ample resources to farmers to strengthen their resiliency and ensure their workforce — who primarily operate outdoors — remain safe. This initiative from our partners at NYSIF is a terrific step toward keeping New Yorkers safe in the heat, and I encourage all eligible businesses to apply.”

    New York State Department of Environmental Conservation Commissioner Amanda Lefton said, “DEC and our State and local partners are committed to addressing extreme heat driven by the climate crisis while identifying actions to help keep our communities safe and healthy. As directed by Governor Hochul, DEC is working to implement the Extreme Heat Action Plan with our agency partners by advancing both strategies and solutions to help address extreme heat. NYSIF’s Extreme Heat Equipment Credit complements these efforts by helping small businesses protect their workers, particularly those often exposed to extreme temperatures, from extreme heat and severe weather, across New York State.”

    New York State Department of Health Commissioner Dr. James McDonald said, “Extreme heat can be life threatening, even for healthy individuals and especially for those with preexisting health conditions like asthma. This program can help ensure that small businesses are able to support a safe environment for their employees during the hottest months of the year.”

    New York State Department of Labor Commissioner Roberta Reardon said, “Soaring temperatures can be dangerous and even deadly, especially for those working outdoors. I encourage eligible small businesses to take advantage of the new Extreme Heat Equipment Credit to purchase personal protective equipment and supplies to minimize heat exposure effects for their employees. We must keep workers safe while making New York a healthier, safer place to live and work. I also remind all employers to review our Extreme Heat Guidance to better understand how to protect their workforce.”

    New York State Energy Research and Development Authority President and CEO, Doreen M. Harris said, “Ensuring that workers have access to proper protective gear and supplies during periods of extreme heat is essential to their health and a safe work environment. I commend the New York State Insurance Fund for offering this equipment credit, which is one of many resources available to businesses to reduce exposure and minimize risk when temperatures are dangerously high for long periods of time.”

    New York State Workers’ Compensation Board Clarissa M. Rodriguez said, “Protecting workers from the dangers of extreme heat is the right thing to do and always good for business. I applaud NYSIF for developing a program that helps both small businesses and the employees who work for them.”

    The Business Council of New York State President and CEO Heather Mulligan said, “Federal law requires all employers to provide a working environment free from recognized hazards that can cause serious injury or illness. New York employers are leaders in protecting their workers from these hazards, including exposure to extreme temperatures. By providing the New York State Insurance Fund Extreme Heat Equipment Credit, NYSIF is reinforcing its commitment to supporting New York employers in this effort. We encourage all eligible businesses to take advantage of this credit to reinvest in their small businesses.”

    State Senator Sean Ryan said, “In the New York State legislature, we’re always looking for new, creative ways to support the small businesses that drive our state’s economy. With temperatures rising, we need to ensure that those employed by small businesses in vulnerable fields are able to work in safe and healthy conditions. I thank NYSIF and Governor Hochul for supporting this plan to protect workers and invest in small businesses across the state.”

    Assemblymember Al Stirpe said, “While temperatures continue to rise, putting our workers first is a necessity. This extreme heat equipment credit ensures that workers in the most heat-vulnerable industries stay safe and healthy while on the job. Not only will less employees be at risk for on-the-job accidents and long-term health impacts, but small businesses will also be provided the resources they need to continue operations during extreme heat events. Despite the increasing threat of climate change, New York State remains committed to protecting the livelihood and wellbeing of our workers.”

    Assemblymember Marianne Buttenschon said, “Our small businesses continue to struggle. The Extreme Heat Tax Credit program will assist our small businesses. I appreciate the governor taking this initiative to support our small businesses as well as those that work for them.”

    About NYSIF
    NYSIF is the largest workers’ compensation insurer in New York State and among the ten largest nationwide. NYSIF covers 2 million workers and insures 200,000 employers in New York State. NYSIF’s mission is to guarantee the availability of workers’ compensation, disability insurance and paid family leave at the lowest possible cost to New York employers while maintaining a solvent fund. Since its inception 110 years ago, NYSIF has fulfilled this mission by competing with other insurance carriers to ensure a fair marketplace while serving as a guaranteed source of coverage for employers that cannot secure coverage elsewhere. NYSIF strives to achieve the best health outcomes for injured workers and be an industry leader in price, quality, and service for New York employers. For more information, visit nysif.com.

    MIL OSI USA News –

  • MIL-OSI USA: Launching the Extreme Heat Equipment Credit

    Source: US State of New York

    overnor Kathy Hochul today announced the launch of the New York State Insurance Fund (NYSIF)’s new Extreme Heat Equipment Credit. The credit helps qualifying small businesses protect their workers through the purchase of personal protective equipment (PPE) and supplies designed to minimize the effects of heat exposure.

    “Extreme weather events have unfortunately become our new normal, and here in New York, we are prioritizing resources to help our small businesses and workers statewide,” Governor Hochul said. “Our hardworking employees across the state deserve to have access to necessary benefits in instances of heat-related illnesses, especially those who work long hours outdoors.”

    With 2024 being the hottest year on record, and each year between 2015-24 ranking among the 10 hottest years on record, rising temperatures have become a critical occupational hazard for many industries. Extreme heat can lead to heat-related illnesses such as heat stroke and heat exhaustion and can exacerbate preexisting conditions such as asthma, kidney disease, or heart disease. Exposure to extreme heat can also impair cognitive and motor functions, increasing the risk of on-the-job accidents.

    The NYSIF Extreme Heat Equipment Credit is available to small businesses — up to 10 employees — in manufacturing, warehousing, carpentry, landscaping and farming; industries where workers are often exposed to extreme temperatures. These businesses can receive a one-time credit of $1,000 or 10 percent of their annual workers’ compensation premium, whichever is less, toward the purchase of PPE designed to protect workers from the effects of extreme heat.

    Today’s initiative is the latest in NYSIF’s commitment to promote worker safety and combat the effects of climate change. NYSIF recently expanded its Climate Action Premium Credit to additional providers of health care services as well as entities engaged in the medical supply chain. The program provides financial incentives and technical support for climate action planning and implementation.

    Eligible purchases under the NYSIF Extreme Heat Equipment Credit program include but are not limited to fans, ventilation systems, cooling vests, ventilated hard hats, UV-resistant safety glasses, and cooling towels. NYSIF policyholders that qualify can apply for the credit on the NYSIF website at nysif.com/ppe.

    New York State Insurance Fund Executive Director and CEO Gaurav Vasisht said, “As extreme heat becomes more frequent and severe, it’s critical that employers provide workers with protective equipment and safety gear to minimize risk. This program was designed for small businesses who may not have the resources of their larger competitors in helping workers stay safe and productive in the most demanding and heat-intensive work environments.”

    New York State Agriculture Commissioner Richard A. Ball said, “As we continue to see an increase in extreme heat across New York, preparation, communication and other precautions can save lives. It’s critical that we are working to provide ample resources to farmers to strengthen their resiliency and ensure their workforce — who primarily operate outdoors — remain safe. This initiative from our partners at NYSIF is a terrific step toward keeping New Yorkers safe in the heat, and I encourage all eligible businesses to apply.”

    New York State Department of Environmental Conservation Commissioner Amanda Lefton said, “DEC and our State and local partners are committed to addressing extreme heat driven by the climate crisis while identifying actions to help keep our communities safe and healthy. As directed by Governor Hochul, DEC is working to implement the Extreme Heat Action Plan with our agency partners by advancing both strategies and solutions to help address extreme heat. NYSIF’s Extreme Heat Equipment Credit complements these efforts by helping small businesses protect their workers, particularly those often exposed to extreme temperatures, from extreme heat and severe weather, across New York State.”

    New York State Department of Health Commissioner Dr. James McDonald said, “Extreme heat can be life threatening, even for healthy individuals and especially for those with preexisting health conditions like asthma. This program can help ensure that small businesses are able to support a safe environment for their employees during the hottest months of the year.”

    New York State Department of Labor Commissioner Roberta Reardon said, “Soaring temperatures can be dangerous and even deadly, especially for those working outdoors. I encourage eligible small businesses to take advantage of the new Extreme Heat Equipment Credit to purchase personal protective equipment and supplies to minimize heat exposure effects for their employees. We must keep workers safe while making New York a healthier, safer place to live and work. I also remind all employers to review our Extreme Heat Guidance to better understand how to protect their workforce.”

    New York State Energy Research and Development Authority President and CEO, Doreen M. Harris said, “Ensuring that workers have access to proper protective gear and supplies during periods of extreme heat is essential to their health and a safe work environment. I commend the New York State Insurance Fund for offering this equipment credit, which is one of many resources available to businesses to reduce exposure and minimize risk when temperatures are dangerously high for long periods of time.”

    New York State Workers’ Compensation Board Clarissa M. Rodriguez said, “Protecting workers from the dangers of extreme heat is the right thing to do and always good for business. I applaud NYSIF for developing a program that helps both small businesses and the employees who work for them.”

    The Business Council of New York State President and CEO Heather Mulligan said, “Federal law requires all employers to provide a working environment free from recognized hazards that can cause serious injury or illness. New York employers are leaders in protecting their workers from these hazards, including exposure to extreme temperatures. By providing the New York State Insurance Fund Extreme Heat Equipment Credit, NYSIF is reinforcing its commitment to supporting New York employers in this effort. We encourage all eligible businesses to take advantage of this credit to reinvest in their small businesses.”

    State Senator Sean Ryan said, “In the New York State legislature, we’re always looking for new, creative ways to support the small businesses that drive our state’s economy. With temperatures rising, we need to ensure that those employed by small businesses in vulnerable fields are able to work in safe and healthy conditions. I thank NYSIF and Governor Hochul for supporting this plan to protect workers and invest in small businesses across the state.”

    Assemblymember Al Stirpe said, “While temperatures continue to rise, putting our workers first is a necessity. This extreme heat equipment credit ensures that workers in the most heat-vulnerable industries stay safe and healthy while on the job. Not only will less employees be at risk for on-the-job accidents and long-term health impacts, but small businesses will also be provided the resources they need to continue operations during extreme heat events. Despite the increasing threat of climate change, New York State remains committed to protecting the livelihood and wellbeing of our workers.”

    Assemblymember Marianne Buttenschon said, “Our small businesses continue to struggle. The Extreme Heat Tax Credit program will assist our small businesses. I appreciate the governor taking this initiative to support our small businesses as well as those that work for them.”

    About NYSIF
    NYSIF is the largest workers’ compensation insurer in New York State and among the ten largest nationwide. NYSIF covers 2 million workers and insures 200,000 employers in New York State. NYSIF’s mission is to guarantee the availability of workers’ compensation, disability insurance and paid family leave at the lowest possible cost to New York employers while maintaining a solvent fund. Since its inception 110 years ago, NYSIF has fulfilled this mission by competing with other insurance carriers to ensure a fair marketplace while serving as a guaranteed source of coverage for employers that cannot secure coverage elsewhere. NYSIF strives to achieve the best health outcomes for injured workers and be an industry leader in price, quality, and service for New York employers. For more information, visit nysif.com.

    MIL OSI USA News –

  • MIL-OSI: Ring Energy to Participate in Water Tower Research Fireside Chat on July 15, 2025

    Source: GlobeNewswire (MIL-OSI)

    THE WOODLANDS, Texas, July 14, 2025 (GLOBE NEWSWIRE) — Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced its participation in a fireside chat with Water Tower Research (“WTR”) on Tuesday, July 15, 2025 at 10:00 AM Central Time.

    As part of WTR’s ongoing Fireside Chat Series, Jeff Robertson, Managing Director at WTR, will lead an in-depth conversation with Paul McKinney, Ring’s Chairman and Chief Executive Officer. Included in the discussion will be a variety of important topics including the integration of Central Basin Platform assets acquired at the end of the first quarter of 2025 from Lime Rock Resources IV, LP and strategies to maximize synergies. Topics will include:

    • Strategic fit with Ring’s existing Central Basin Platform assets;
    • Opportunities to maximize cost synergies;
    • Adapting the capital program during market turbulence; and
    • Pathway to achieving deleveraging goal.

    Investors and other interested parties can access the event by registering in advance at
    https://us06web.zoom.us/webinar/register/2017520589833/WN_vWA5ccrWQjSATPrDXYwb8Q.

    The presentation will also be available through Ring’s web site, www.ringenergy.com on the “Overview” page under the “Investors” tab.

    About Ring Energy, Inc.
    Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit www.ringenergy.com.

    SAFE HARBOR STATEMENT

    This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitations, statements with respect to the Company’s strategy and prospects. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2024, and its other filings with the SEC. Readers and investors are cautioned that the Company’s actual results may differ materially from those described in the forward-looking statements.

    Contact Information

    Al Petrie Advisors
    Al Petrie, Senior Partner
    Phone: 281-975-2146
    Email: apetrie@ringenergy.com

    The MIL Network –

  • MIL-OSI Security: Marking a Milestone: 20th Anniversary of the Amendment to the Convention on Physical Protection of Nuclear Material

    Source: International Atomic Energy Agency – IAEA

    Twenty years ago, the adoption of the Amendment to the Convention on the Physical Protection of Nuclear Material (A/CPPNM) marked the start of a new era in international efforts to counter the risk of nuclear security threats.

    The Convention and its Amendment are the only internationally legally binding undertakings in the area of physical protection of nuclear material and of nuclear facilities used for peaceful purposes. They provide a robust international legal framework as a foundation for effective nuclear security.

    On the occasion of the anniversary, IAEA Director General Rafael Mariano Grossi emphasized in his message that “it is in everyone’s interest that all States join and implement both. We need to do everything possible against current and emerging threats, and we need to lay a solid foundation for the many communities embracing reliable, low carbon nuclear energy in more and more countries.”

    The Amendment came into force in May 2016 and extended the scope of the original treaty to cover physical protection of nuclear facilities and nuclear material used for peaceful purposes in domestic use, storage and transport. It also further criminalizes offences related to illicit trafficking and sabotage of nuclear material or nuclear facilities, and provides for strengthened international cooperation in light of the expanded scope, such as assistance and information sharing in the event of sabotage.

    The first Conference of the Parties to the Amendment to the Convention on the Physical Protection of Nuclear Materials was held at the IAEA’s headquarters in Vienna, Austria from 28 March to 1 April 2022. The second such Conference is scheduled to be held in Vienna in April 2027.

    “As we prepare for the second conference on the Amendment to the CPPNM, the IAEA will continue its support. We will do this through new partnerships with key decision makers and stakeholders, new initiatives and tailored legislative and technical assistance,” Grossi said.

    The CPPNM currently has 165 Parties, of which 138 have also joined the Amendment. Most recently, Mongolia became the latest Party to the Amendment.

    Mongolia’s ratification of the A/CPPNM in April 2025 marked a strategic step in strengthening the national nuclear security framework and legal infrastructure. “This development reaffirms Mongolia’s strong commitment to the peaceful use of nuclear technology and to preventing nuclear and radiological threats both nationally and regionally. By joining the Amendment, Mongolia has expanded its obligations to protect nuclear material not only during international transport but also in domestic use and at nuclear facilities, in line with international standards,” said Gerelmaa Gombosuren, Acting Head of the Foreign Affairs Division in Mongolia’s Nuclear Energy Commission.

    “The country’s adherence was made possible through close cooperation with the IAEA, whose legal guidance, technical assistance, and capacity-building support have significantly enhanced our institutional preparedness. We remain committed to the universalization and effective implementation of the A/CPPNM and to contributing to global nuclear security efforts,” she added.

    MIL Security OSI –

  • MIL-OSI Security: Marking a Milestone: 20th Anniversary of the Amendment to the Convention on Physical Protection of Nuclear Material

    Source: International Atomic Energy Agency – IAEA

    Twenty years ago, the adoption of the Amendment to the Convention on the Physical Protection of Nuclear Material (A/CPPNM) marked the start of a new era in international efforts to counter the risk of nuclear security threats.

    The Convention and its Amendment are the only internationally legally binding undertakings in the area of physical protection of nuclear material and of nuclear facilities used for peaceful purposes. They provide a robust international legal framework as a foundation for effective nuclear security.

    On the occasion of the anniversary, IAEA Director General Rafael Mariano Grossi emphasized in his message that “it is in everyone’s interest that all States join and implement both. We need to do everything possible against current and emerging threats, and we need to lay a solid foundation for the many communities embracing reliable, low carbon nuclear energy in more and more countries.”

    The Amendment came into force in May 2016 and extended the scope of the original treaty to cover physical protection of nuclear facilities and nuclear material used for peaceful purposes in domestic use, storage and transport. It also further criminalizes offences related to illicit trafficking and sabotage of nuclear material or nuclear facilities, and provides for strengthened international cooperation in light of the expanded scope, such as assistance and information sharing in the event of sabotage.

    The first Conference of the Parties to the Amendment to the Convention on the Physical Protection of Nuclear Materials was held at the IAEA’s headquarters in Vienna, Austria from 28 March to 1 April 2022. The second such Conference is scheduled to be held in Vienna in April 2027.

    “As we prepare for the second conference on the Amendment to the CPPNM, the IAEA will continue its support. We will do this through new partnerships with key decision makers and stakeholders, new initiatives and tailored legislative and technical assistance,” Grossi said.

    The CPPNM currently has 165 Parties, of which 138 have also joined the Amendment. Most recently, Mongolia became the latest Party to the Amendment.

    Mongolia’s ratification of the A/CPPNM in April 2025 marked a strategic step in strengthening the national nuclear security framework and legal infrastructure. “This development reaffirms Mongolia’s strong commitment to the peaceful use of nuclear technology and to preventing nuclear and radiological threats both nationally and regionally. By joining the Amendment, Mongolia has expanded its obligations to protect nuclear material not only during international transport but also in domestic use and at nuclear facilities, in line with international standards,” said Gerelmaa Gombosuren, Acting Head of the Foreign Affairs Division in Mongolia’s Nuclear Energy Commission.

    “The country’s adherence was made possible through close cooperation with the IAEA, whose legal guidance, technical assistance, and capacity-building support have significantly enhanced our institutional preparedness. We remain committed to the universalization and effective implementation of the A/CPPNM and to contributing to global nuclear security efforts,” she added.

    MIL Security OSI –

  • MIL-OSI NGOs: Marking a Milestone: 20th Anniversary of the Amendment to the Convention on Physical Protection of Nuclear Material

    Source: International Atomic Energy Agency (IAEA) –

    Twenty years ago, the adoption of the Amendment to the Convention on the Physical Protection of Nuclear Material (A/CPPNM) marked the start of a new era in international efforts to counter the risk of nuclear security threats.

    The Convention and its Amendment are the only internationally legally binding undertakings in the area of physical protection of nuclear material and of nuclear facilities used for peaceful purposes. They provide a robust international legal framework as a foundation for effective nuclear security.

    On the occasion of the anniversary, IAEA Director General Rafael Mariano Grossi emphasized in his message that “it is in everyone’s interest that all States join and implement both. We need to do everything possible against current and emerging threats, and we need to lay a solid foundation for the many communities embracing reliable, low carbon nuclear energy in more and more countries.”

    The Amendment came into force in May 2016 and extended the scope of the original treaty to cover physical protection of nuclear facilities and nuclear material used for peaceful purposes in domestic use, storage and transport. It also further criminalizes offences related to illicit trafficking and sabotage of nuclear material or nuclear facilities, and provides for strengthened international cooperation in light of the expanded scope, such as assistance and information sharing in the event of sabotage.

    The first Conference of the Parties to the Amendment to the Convention on the Physical Protection of Nuclear Materials was held at the IAEA’s headquarters in Vienna, Austria from 28 March to 1 April 2022. The second such Conference is scheduled to be held in Vienna in April 2027.

    “As we prepare for the second conference on the Amendment to the CPPNM, the IAEA will continue its support. We will do this through new partnerships with key decision makers and stakeholders, new initiatives and tailored legislative and technical assistance,” Grossi said.

    The CPPNM currently has 165 Parties, of which 138 have also joined the Amendment. Most recently, Mongolia became the latest Party to the Amendment.

    Mongolia’s ratification of the A/CPPNM in April 2025 marked a strategic step in strengthening the national nuclear security framework and legal infrastructure. “This development reaffirms Mongolia’s strong commitment to the peaceful use of nuclear technology and to preventing nuclear and radiological threats both nationally and regionally. By joining the Amendment, Mongolia has expanded its obligations to protect nuclear material not only during international transport but also in domestic use and at nuclear facilities, in line with international standards,” said Gerelmaa Gombosuren, Acting Head of the Foreign Affairs Division in Mongolia’s Nuclear Energy Commission.

    “The country’s adherence was made possible through close cooperation with the IAEA, whose legal guidance, technical assistance, and capacity-building support have significantly enhanced our institutional preparedness. We remain committed to the universalization and effective implementation of the A/CPPNM and to contributing to global nuclear security efforts,” she added.

    MIL OSI NGO –

  • MIL-OSI United Nations: Marking a Milestone: 20th Anniversary of the Amendment to the Convention on Physical Protection of Nuclear Material

    Source: International Atomic Energy Agency (IAEA)

    Twenty years ago, the adoption of the Amendment to the Convention on the Physical Protection of Nuclear Material (A/CPPNM) marked the start of a new era in international efforts to counter the risk of nuclear security threats.

    The Convention and its Amendment are the only internationally legally binding undertakings in the area of physical protection of nuclear material and of nuclear facilities used for peaceful purposes. They provide a robust international legal framework as a foundation for effective nuclear security.

    On the occasion of the anniversary, IAEA Director General Rafael Mariano Grossi emphasized in his message that “it is in everyone’s interest that all States join and implement both. We need to do everything possible against current and emerging threats, and we need to lay a solid foundation for the many communities embracing reliable, low carbon nuclear energy in more and more countries.”

    The Amendment came into force in May 2016 and extended the scope of the original treaty to cover physical protection of nuclear facilities and nuclear material used for peaceful purposes in domestic use, storage and transport. It also further criminalizes offences related to illicit trafficking and sabotage of nuclear material or nuclear facilities, and provides for strengthened international cooperation in light of the expanded scope, such as assistance and information sharing in the event of sabotage.

    The first Conference of the Parties to the Amendment to the Convention on the Physical Protection of Nuclear Materials was held at the IAEA’s headquarters in Vienna, Austria from 28 March to 1 April 2022. The second such Conference is scheduled to be held in Vienna in April 2027.

    “As we prepare for the second conference on the Amendment to the CPPNM, the IAEA will continue its support. We will do this through new partnerships with key decision makers and stakeholders, new initiatives and tailored legislative and technical assistance,” Grossi said.

    The CPPNM currently has 165 Parties, of which 138 have also joined the Amendment. Most recently, Mongolia became the latest Party to the Amendment.

    Mongolia’s ratification of the A/CPPNM in April 2025 marked a strategic step in strengthening the national nuclear security framework and legal infrastructure. “This development reaffirms Mongolia’s strong commitment to the peaceful use of nuclear technology and to preventing nuclear and radiological threats both nationally and regionally. By joining the Amendment, Mongolia has expanded its obligations to protect nuclear material not only during international transport but also in domestic use and at nuclear facilities, in line with international standards,” said Gerelmaa Gombosuren, Acting Head of the Foreign Affairs Division in Mongolia’s Nuclear Energy Commission.

    “The country’s adherence was made possible through close cooperation with the IAEA, whose legal guidance, technical assistance, and capacity-building support have significantly enhanced our institutional preparedness. We remain committed to the universalization and effective implementation of the A/CPPNM and to contributing to global nuclear security efforts,” she added.

    MIL OSI United Nations News –

  • MIL-OSI: Federated “Midas” U.S. Sovereign Wealth Fund Launched, writes Global Policy Advisors’ Salar Ghahramani

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 14, 2025 (GLOBE NEWSWIRE) — Global Policy Advisors® LLC (GPA), a strategic advisory firm focused on sovereign wealth funds, has released a new SWF 2050™ briefing authored by Salar Ghahramani, titled Federated “Midas” U.S. Sovereign Wealth Fund Launched, with a focus on how recent developments are transforming the United States’ approach to sovereign wealth investing, with significant implications for markets and strategic sectors like rare earths.

    The briefing builds upon Ghahramani’s April 2025 SWF 2050™ report, Strategic Expansion in Critical Resources: New Directions for U.S. Sovereign Wealth Fund Investments, which anticipated the growing role of a U.S. sovereign wealth fund in securing critical minerals, reshaping market dynamics, and mitigating supply chain vulnerabilities. In the latest analysis, Ghahramani details how these forecasts are beginning to materialize through concrete transactions and policy frameworks.

    Ghahramani, who describes this emerging model as “Midas” to signify the use of sovereign capital to create transformative value across financial markets, supply chains, and strategic industries, writes that transactions like the Department of Defense’s equity stake in MP Materials exemplify this shift. “This is sovereign capital being deployed not merely for financial return, but to actively influence market structure, manage supply chain risks, and catalyze private investment—particularly in strategic industries such as rare earths,” Ghahramani said. “It’s an outside-the-box and highly creative approach, representing a significant departure from traditional sovereign wealth fund models and introducing new considerations for market participants.”

    Unlike conventional sovereign wealth funds that operate as single, centralized entities, Ghahramani explains that the U.S. appears to be developing a federated architecture in which multiple Executive Branch agencies act as conduits and pillars of sovereign wealth investing. The Department of Defense, leveraging authorities under the Defense Production Act (DPA), can engage in direct equity stakes and strategic market interventions. The Development Finance Corporation (DFC) is positioned to deploy capital into critical sectors tied to economic and national security objectives. The Department of the Treasury may emerge as a coordinating force, managing financial instruments and structuring sovereign investment strategies. Other agencies, including the Departments of Energy and Commerce, contribute through grants, loan guarantees, and sector-specific initiatives.

    In the report, Ghahramani analyzes how this decentralized approach operates within existing statutory frameworks, offering regulatory pathways for sovereign-style investments through instruments such as equity stakes, loans, price floors, and revenue-sharing agreements.

    Read the summary of the report here:

    https://www.globalpolicyadvisors.com/swf-2050trade/federated-midas-us-sovereign-wealth-fund-launched

    About Global Policy Advisors

    Global Policy Advisors® LLC is a boutique sovereign wealth fund advisory to corporations, boards of directors, and institutional investors—including hedge funds, private equity firms, pension funds, and SWFs. GPA’s ​expertise is delivering actionable insights, strategy sessions, and executive briefings on the governance, operations, and investment strategies of sovereign wealth funds. The company is recognized for devising the first governance and policy roadmap for a U.S. sovereign wealth fund.

    The MIL Network –

  • MIL-OSI Analysis: U.S. and Israeli strikes on Iran could fuel a new wave of nuclear proliferation

    Source: The Conversation – Canada – By Saira Bano, Assistant Professor in Political Science, Thompson Rivers University

    In the wake of recent strikes by Israel and the United States on Iranian cities, military sites and nuclear facilities, a troubling paradox has emerged: actions intended to prevent Iran from acquiring nuclear weapons may actually be accelerating its pursuit of them and encouraging other countries to follow suit.

    On June 13, Israel launched Operation Rising Lion, a military campaign aimed at dismantling Iran’s nuclear program. The operation began with a series of co-ordinated strikes targeting Iran’s top nuclear scientists, senior military officials and key members of the Islamic Revolutionary Guard Corps.

    Despite establishing air dominance, Israel did not possess the capability to destroy Iran’s most heavily fortified nuclear facilities — especially the Fordow enrichment site, which is buried deep within a mountain.



    Read more:
    Why Israel and the U.S. are sure to encounter the limits of air power in Iran

    On June 21, the U.S. carried out major airstrikes targeting Iran’s critical nuclear sites at Fordow, Natanz and Isfahan. Using B-2 stealth bombers equipped with bunker-busting bombs, the operation aimed to cripple Iran’s deeply fortified nuclear infrastructure.

    Three days later, Iran and Israel agreed to a ceasefire, bringing the 12-day conflict to an end. While both sides declared aspects of the campaign successful, the war marked a dangerous escalation in regional tensions and raised renewed concerns over the future of nuclear nonproliferation and security in the Middle East.

    History of nuclear negotiations

    The U.S. has consistently asserted that Iran must never be allowed to acquire nuclear weapons. In 2006, Iran was subjected to international sanctions after the International Atomic Energy Agency (IAEA) reported the government was not in compliance with its nuclear energy obligations.

    Under former president Barack Obama, the U.S. government pursued a diplomatic path, culminating in the 2015 Joint Comprehensive Plan of Action (JCPOA). Under the deal, Iran agreed to limit uranium enrichment to 3.67 per cent and allow intrusive IAEA inspections. In exchange, it received relief from some international sanctions.

    In 2018, U.S. President Donald Trump unilaterally withdrew from the JCPOA, despite IAEA reports confirming Iran’s compliance. This decision undermined diplomatic trust and prompted Iran to scale back its commitments under the deal.

    The Biden administration sought to revive the JCPOA, but Iran demanded binding guarantees that future U.S. governments would not again withdraw — an assurance Biden could not provide.

    In the aftermath, Iran significantly escalated its nuclear activities. According to IAEA reports, Iran has more than 400 kilograms of enriched uranium to 60 per cent — an amount that, if further refined to 90 per cent, could be sufficient to produce 10 to 12 nuclear weapons.

    Iran has long used its nuclear program as a bargaining chip in negotiations with the U.S. While Iranian officials have maintained their program is purely peaceful, the country produces more highly enriched uranium than it needs for domestic power generation. Enriching uranium has been a way for Iran to raise pressure on the U.S. to lift sanctions.

    The second Trump administration resumed negotiations for a new nuclear deal aimed at imposing stronger constraints on Iran’s nuclear program.

    Although five rounds of negotiations were held, a sixth round scheduled for June 15 was disrupted when Israel conducted a military strike on Iran two days earlier. The attack escalated tensions and derailed the diplomatic process, further complicating the possibility of reaching a renewed agreement.

    Strikes could lead to nuclear proliferation

    Although Trump claimed the U.S. strikes had “obliterated” Iran’s nuclear program, initial intelligence assessments were more cautious, noting significant damage but not total destruction.

    Although it maintains ambiguity about its nuclear program, Israel is seen to be the only country in the Middle East to possess nuclear weapons. It has taken military action to prevent other countries in the region from developing nuclear programs.

    In 2007, Israel bombed a suspected nuclear reactor under construction in Syria. In 1981, Israeli fighter jets bombed a nuclear reactor in Iraq.

    The Israeli government may have calculated that airstrikes could also effectively work against Iran. However, the difference is that Iran’s nuclear program is far more advanced than Syria or Iraq’s were. While the recent strikes may have set the program back by two years, Iran retains the knowledge and capacity to rebuild.

    Ironically, the Israeli and U.S. strikes, which aimed to eliminate Iran’s nuclear capabilities, may instead encourage Iranian officials to accelerate their efforts. Following the war, Iran ended all co-operation with the IAEA, expelling inspectors and cutting off access to its nuclear sites. Without IAEA personnel on the ground, it has become extremely difficult to monitor or verify the scope of Iran’s nuclear activities.

    Bombing Iran’s nuclear facilities each time it advances its nuclear program is not a sustainable strategy. Israel had hoped that a decisive military strike would trigger widespread unrest and potentially lead to the Iranian government’s collapse.

    Instead, the opposite occurred: the Iranian public rallied around the flag, perceiving the attack as a blatant violation of national sovereignty. As a result, the government strengthened its domestic legitimacy and further suppressed political opposition.

    For now, Iranian officials have maintained that they do not intend to develop a nuclear weapon. However, the Iranian parliament is preparing legislation to withdraw from the Nuclear Non-Proliferation Treaty, of which Iran is currently a signatory.

    Exiting the treaty would remove a major legal and diplomatic constraint on Iran’s pursuit of nuclear weapons. Should Iran decide to go down that path, it would likely trigger a nuclear arms race in the region.

    Saudi Arabia has indicated that if Iran builds a nuclear weapon, it will seek to do the same.

    The most effective way to prevent Iran from acquiring nuclear weapons is through sustained diplomacy and a renewed nuclear agreement. A credible deal that includes robust verification mechanisms and IAEA inspections and sanctions relief remains the most viable solution.

    Military strikes, by contrast, tend to backfire, and will likely reinforce the belief in Iran — and elsewhere — that only a nuclear deterrent can shield them from external threats.

    Saira Bano does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. U.S. and Israeli strikes on Iran could fuel a new wave of nuclear proliferation – https://theconversation.com/u-s-and-israeli-strikes-on-iran-could-fuel-a-new-wave-of-nuclear-proliferation-260897

    MIL OSI Analysis –

  • MIL-OSI USA: In historic first, California powered by two-thirds clean energy – becoming largest economy in the world to achieve milestone

    Source: US State of California Governor

    Jul 14, 2025

    What you need to know: Clean energy reliably powered California to levels never seen before – 67% in 2023 – as renewable energy and clean resources continue to advance the state’s world-leading energy transition while fueling the nation’s largest clean energy workforce, more than a half-million strong.

    SACRAMENTO – Governor Gavin Newsom today announced California achieved an historic milestone – the state was powered by two-thirds clean energy in 2023, the latest year for which data is available. California is the largest economy in the world to achieve this level of clean energy. 

    The state released new data showing California’s continued progress toward a clean energy future with 67% of the state’s retail electricity sales in 2023 coming from renewable and zero-carbon electricity generation — compared to just 61% the previous year and around 41% a decade ago. Sources of clean energy include generation from solar, wind, hydro, nuclear, geothermal and biomass. 

    In 2024, the state added a record-breaking 7,000 megawatts (MW) of clean capacity to the grid, representing the largest single-year increase in clean energy capacity added to the grid in state history. This new figure broke the previous records set in both 2022 and 2023, marking a third consecutive year of unprecedented clean energy growth.

    As the federal government turns its back on innovation and commonsense, California is making our clean energy future a reality. The world’s fourth largest economy is running on two-thirds clean power – the largest economy on the planet to achieve this milestone.

    And for the first time ever, clean energy provided 100% of the state’s power nearly every day this year for some part of the day. Not since the Industrial Revolution have we seen this kind of rapid transformation. 

    Governor Gavin Newsom

    Historic investments over the past 15 years have led to an extraordinary pace of development in new clean energy generation. And as the grid is increasingly powered by clean energy, pollution is down and the economy is up. Greenhouse gas emissions in California are down 20% since 2000 – even as the state’s GDP increased 78% in that same time period. The power sector is a major driver of the decline in greenhouse gases – emissions from electric power have been cut in half since 2009, helping the state achieve its emissions reductions goals years ahead of schedule.

    California is home to the most clean energy jobs in the U.S. and the state’s renewable energy and clean vehicle industries lead the nation in growth. California boasts more than a half-million green jobs and has 7 times more clean jobs than fossil fuel jobs. Solar and wind jobs account for a majority of green jobs, and battery storage and grid modernization is the second-fastest growing sector within California’s clean energy workforce.  

    California continues to move at a rapid pace on bringing clean energy online. Since 2019, a record 25,000 MW of new energy resources statewide have been added to the grid, with most of that being solar and battery storage. This aligns with the Governor’s roadmap to the state’s clean energy future released in 2023, which called for 148,000 megawatts (MW) of new clean power by 2045.

    “California has achieved yet another major milestone on our journey to a clean energy future. The latest numbers show how our state is demonstrating that clean energy is mainstream and is here to stay,” said California Energy Commission (CEC) Chair David Hochschild. 

    Sources eligible under the state’ Renewables Portfolio Standard – such as solar and wind – made up 43% of the power mix in 2023, up from 39% in 2022. Other zero carbon resources continue to power the grid with large hydro accounting for 12% and nuclear power at 12% in 2023.

    “California has set ambitious clean energy goals, and utilities and community choice aggregators have stepped up to deliver clean resources at competitive prices to communities up and down the state,” said California Public Utilities Commission President Alice Reynolds. “We are bringing renewable energy online at an unprecedented scale and pace never seen before.”

    Solar represents the technology with the largest amount of installed renewable energy capacity in the state – over 21,000 MW of solar capacity operates the electric grid and another 19,000 MW of behind-the-meter generation. The California grid regularly breaks solar generation peak record levels  – the latest solar peak recorded in late May was over 21,500 MW of solar generation.

    The state is also doubling down on its goals by swiftly increasing its battery energy storage capacity. The state’s battery fleet now stands at over 15,000 MW – 1,944% higher than when the Governor took office in 2019. The state’s storage fleet is regularly storing any available extra solar energy generated during the day, and supporting the grid by dispatching during the evening.  

    Clean energy days

    More than 9 out of 10 days so far this year have been powered by 100% clean energy for at least some part of the day in California. In 2025, California’s grid has run on 100% clean electricity for an average of 7 hours a day.

    Data compiled by the California Energy Commission shows clean energy has powered the equivalent of 51.9 days in the state – nearly 30% of the year to date running on 100% clean electricity. That already surpasses the amount of “clean energy days” last year – and represents a 750% increase in clean energy days since 2022.

    Press releases, Recent news

    Recent news

    Jul 11, 2025

    News Sacramento, California – Governor Gavin Newsom issued the following statement today on the court’s decision in Vasquez Perdomo, et al. v. Noem to temporarily stop federal immigration agents from unlawful suspicionless stops in California:  Justice prevailed today…

    Jul 11, 2025

    News What you need to know: Californians are strongly encouraged to use state and local resources to protect themselves from heat illness as triple digit temperatures move across the state. SACRAMENTO — Governor Gavin Newsom is encouraging Californians to prepare for…

    Jul 11, 2025

    News What you need to know: Governor Newsom is announcing that the California Employment Development Department is awarding $11 million to help six California organizations connect underserved adults — including veterans, people with disabilities, and at-risk young…

    MIL OSI USA News –