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  • MIL-Evening Report: Individual action on climate was tarred as greenwashing or virtue signalling. But it still has a place

    Source: The Conversation (Au and NZ) – By Sukhbir Sandhu, Associate Professor in Sustainability, University of South Australia

    j.chizhe/Shutterstock

    Two decades ago, the fight against climate change was often framed as a personal choice. You might try to reduce your carbon footprint by avoiding flights or change your buying habits to avoid meat or reduce plastic.

    But this approach lost popularity, as it shifted responsibility from producer to consumer. The carbon footprint, for instance, was famously popularised by oil company BP. In 2008, well-known American climate activist Bill McKibben pointed out the impotence of individual action without collective action.

    Behavioural researchers also began finding a seeming paradox – many of us expressed strong interest in taking individual action on climate, but our actual behaviours barely changed.

    Much focus shifted to top-down efforts such as government incentives for clean energy and commitments at a national level to cut emissions.

    But there is still a role for individuals – especially around demonstrating what clean alternatives actually look like. For instance, the more solar panels are installed on rooftops in your neighbourhood, the more likely you are to consider it. This neighbourhood effect also affects uptake of electric vehicles and e-bikes. This is especially important if we are to see clean alternatives go mainstream rather than stop at a small fraction of the population.

    Of course, individual actions can only go so far. As our research on sustainable consumption has shown, individual actions can be magnified with a backdrop of institutional support.

    The neighbourhood effect has influence on solar and electric vehicle uptake.
    zstock/Shutterstock

    What we say and what we do

    Humans are complicated. We often say we want to make greener choices – but in reality, we act differently.

    Individual climate action sounds great in theory. If many of us chose electric vehicles or bikes, installed solar panels and built energy efficient houses, our actions in aggregate could contribute to wider emissions goals. Then there are choices such as reducing dairy and meat, installing LED lights and buying produce with less packaging.

    Everyday actions can contribute too, such as washing clothes in cold water, avoiding putting aircon too low or heating too high, and wearing extra layers of clothes. Recycling, repairing and reusing offer us still more methods to extend the life of our products, reduce waste and save money.

    Yet it turns out the reality of individual action on climate is much more complicated – because we are complicated.

    When surveyed, a majority of us say we want green, sustainable products. But when we go to the shops, we often don’t actually buy them. My colleagues and I have dubbed this the “Janus faced” consumer phenomenon – we often say one thing but do another.

    Why might that be? One reason is many consumers believe green products – whether electric cars or detergents – will perform worse. Green products are also perceived to be more expensive and inconvenient to use.

    Then there’s the question of virtue signalling. This is a phenomenon where consumers purchase highly visible green products primarily to signal they’re a person who cares about the environment without necessarily doing so.

    Some of these challenges are being overcome. It’s hard to write off modern electric cars as inferior when they can accelerate faster and run much cheaper than fossil fuel cars. While early adopters of solar might once have been seen as virtue-signallers, the main reason Australian households go solar is to save money on the power bill, according to a CSIRO survey.

    Was buying a Toyota Prius about going green – or signalling your virtue?
    Stephen Barnes/Shutterstock

    One and the many

    Individual action can only go so far. For individual action to create sustained impact, it needs supportive policies and institutional backing.

    For instance, a 2023 report found many Australian clean energy organisations would like to re-use solar panels for community projects or as a low-cost option for households. This makes sense, given used solar panels are often 80% as good as new ones.

    But for consumers to actually act on this, they need institutional scaffolding. If you’re going to buy used solar, you want to make sure they are in good condition. Without a certification process, their willingness will come to nothing.

    While many of us say we would consider buying an electric vehicle, the uptake is constrained by things outside our control such as whether there are enough public chargers in cities and rural areas.

    You can see the importance of institutional backing clearly in transport. The Melbourne-Sydney flight path is the fifth busiest in the world. That’s because there are no fast green alternatives. If there was high-speed rail as in China or Japan, many of us would choose to avoid the emissions caused by flying. But it doesn’t exist (yet), so our individual choices are curtailed.

    Which way forward?

    As climate change intensifies, more and more of us say we are willing to act on our beliefs and concerns on an individual level. Even better, more of us are actually doing what we say we will.

    Not everywhere, of course. For many Australians, switching from petrol to electric might be easier than giving up meat or a flight to Japan. But some progress is better than none.

    This groundswell is encouraging. But our individual efforts can only go so far. To make the most of it, we need institutional scaffolding. Australia has world-beating rooftop solar uptake because state and federal governments used subsidies and incentives to make the emerging technology cheaper. With incentives on offer, millions of us made individual choices to take it up.

    We are more than consumers, of course. Our power as individuals isn’t limited to choosing specific products. As citizens, we can push for our governments to provide the essential scaffolding we need to make greener choices.

    Sukhbir Sandhu has received research grants from Australian Research Council (Discovery), Green Industries SA, and the European Union.

    – ref. Individual action on climate was tarred as greenwashing or virtue signalling. But it still has a place – https://theconversation.com/individual-action-on-climate-was-tarred-as-greenwashing-or-virtue-signalling-but-it-still-has-a-place-239196

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Moderators protect us from the worst of the internet. That comes at huge personal cost

    Source: The Conversation (Au and NZ) – By Alexandra Wake, Associate Professor, Journalism, RMIT University

    Shutterstock

    Unless you’re a moderator for a local community group discussing garbage collections or dog park etiquette, you are unlikely to fully understand the sheer volume and scale of abuse directed at people online.

    But when social media moderation and community management is part and parcel of your daily work, the toll on people and their loved ones can be enormous. Journalists, often early in their careers, can be on the receiving end of torrents of abuse.

    If they come from culturally or linguistically diverse backgrounds, that reluctance to report can be even higher than other colleagues.

    There’s growing employer concern about how moderating confronting content can affect people’s wellbeing. Employers also have a duty to keep their staff safe at work, including online.

    The ABC wanted to understand what this looked like in practice. Its internal survey data shows just how bad the problem has become for moderators who are employed to keep audience members safe when contributing to online discussions.

    What did the ABC find?

    In 2022, the ABC asked 111 staff who were engaged in online moderation as part of their jobs to self-report the frequency of exposure to potentially harmful experiences.

    First it was important to understand just how long people were spending online moderating content. For those who had to moderate content every day, 63% they did it for less than an hour and a half, and 88% moderated for less than three hours.

    The majority of staff surveyed saw potentially harmful content every week.

    71% of moderators reported seeing denigration of their work weekly, with 25% seeing this daily.



    Read more:
    Can human moderators ever really rein in harmful online content? New research says yes

    Half reported seeing misogynistic content weekly, while more than half said they saw racist content weekly.

    Around a third reported seeing homophobic content every week.

    In the case of abusive language, 20% said they encountered it weekly.

    It’s a confronting picture on its own, but many see more than one type of this content at a time. This compounds the situation.

    It is important to note the survey did not define specifically what was meant by racist, homophobic or misogynistic content, so that was open to interpretation from the moderators.

    A global issue

    We’ve known for a few years about the mental health problems faced by moderators in other countries.

    Some people employed by Facebook to filter out the most toxic material and have gone on to take the company to court.

    In one case in the United States, Facebook reached a settlement with more than 10,000 content moderators that included U$52 million (A$77.8 million) for mental health treatment.

    In Kenya, 184 moderators contracted by Facebook are suing the company for poor working conditions, including a lack of mental health support. They’re seeking U$1.6 billion (A$2.3 billion) in compensation.

    The case is ongoing and so too are other separate cases against Meta in Kenya.

    In Australia, moderators during the height of the COVID pandemic reported how confronting it could be to deal with social media users’ misinformation and threats.

    A 2023 report by Australian Community Managers, the peak body for online moderators, found 50% of people surveyed said a key challenge of their job was maintaining good mental health.

    What’s being done?

    Although it is not without its own issues, the ABC is leading the way in protecting its moderators from harm.

    It has long worked to protect its staff from trauma exposure with a variety of programs, including a peer support program for journalists. The program was supported by the Dart Centre for Journalism and Trauma Asia Pacific.

    But as the level of abuse directed at staff increased in tone and intensity, the national broadcaster appointed a full-time Social Media Wellbeing Advisor. Nicolle White manages the workplace health and safety risk generated by social media. She’s believed to be the first in the world in such a role.

    As part of the survey, the ABC’s moderators were asked about ways they could be better supported.

    Turning off comments was unsurprisingly rated as the most helpful technique to promote wellbeing, followed by support from management, peer support, and preparing responses to anticipated audience reactions.

    Turning off the comments, however, often leads to complaints from at least some people that their views are being censored. This is despite the fact media publishers are legally liable for comments on their content, following a 2021 High Court decision.

    Educating staff about why people comment on news content has been an important part of harm reduction.

    Some of the other changes implemented after the survey included encouraging staff not to moderate comments when it related to their own lived experience or identity, unless they feel empowered in doing so.

    The peer support program also links staff others with moderation experience.

    Managers were urged to ensure that self-care plans were completed by staff to prepare for high-risk moderation days (such as the Voice referendum). These includes documenting positive coping mechanisms, how to implement boundaries at the end of a news shift, debriefing and asking staff to reflect on the value in their work.

    Research shows one of the most protective factors for journalists is being reminded that the work is important.

    But overwhelmingly, the single most significant piece of advice for all working on moderation is to ensure they have clear guidance on what to do if their wellbeing is affected, and that seeking support is normalised in the workplace.

    Lessons for others

    While these data are specific to the public broadcaster, it’s certain the experiences of the ABC are reflected across the news industry and other forums where people are responsible for moderating communities.

    It’s not just paid employees. Volunteer moderators at youth radio stations or Facebook group admins are among the many people who face online hostility.

    What’s clear is that any business or volunteer organisation building a social media audience need to consider the health and safety ramifications for those tasked with maintaining those platforms, and ensure they build in support strategies.

    Australia’s eSafety commissioner has developed a range of publicly available resources to help.

    The author would like to acknowledge the work of Nicolle White in writing this article and the research it reports.

    Alexandra Wake is a member of Dart Asia Pacific, having previously served as a director of its Board. She is currently a joint recipient of an Australian Research Council Discovery Grant, Australian Journalism, Trauma and Community.

    – ref. Moderators protect us from the worst of the internet. That comes at huge personal cost – https://theconversation.com/moderators-protect-us-from-the-worst-of-the-internet-that-comes-at-huge-personal-cost-241775

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI NGOs: Pakistan: Flood survivors in Sindh province suffer disease and food insecurity amid government inaction – new testimony

    Source: Amnesty International –

    • Thousands lacking support after severe flooding
    • Older people and children at increased risk of death and disease

    Severe flooding in Pakistan’s Sindh province has left thousands of people suffering from disease and food insecurity amid government inaction, Amnesty International said.

    Following major flooding in August 2024, more than 140,000 people were displaced with many now living in tents. Months later, affected communities are still struggling with health risks and lost livelihoods compounded by little international or government support. With disease rampant due to stagnant floodwaters, older people, children and pregnant women are at increased risk of illness and death.

    By failing to guarantee access to adequate healthcare, food and housing in the wake of the floods, the government of Sindh has failed to fulfil economic, social and cultural rights set out in key human rights instruments ratified by Pakistan.  The biggest emitters of greenhouse gases, who bear most responsibility for climate change-related disasters, must also minimize the harmful effects of climate change on human rights by phasing out fossil fuels as quickly as possible.

    “Tens of thousands of people have been abandoned by the Sindh government and the international community after being devastated again by major floods,” said Scott Edwards, Amnesty International’s Crisis Response Programme Director.

    “Many impacted communities were harmed by record-breaking floods in 2022, and have struggled to rebuild their lives. Inaction in the face of repeated disasters is evidence of waning resiliency and global lethargy.

    “Climate change is not a tentative threat; lives are being lost today to global inaction and inadequate humanitarian response. The international community and Pakistani authorities must act urgently before more people suffer unnecessarily.”

    In late September 2024, Amnesty International visited eight flood-affected villages in Badin and Dadu districts in Sindh province and interviewed 36 people, including older people, people with disabilities, children, pregnant women, and one doctor.

    MIL OSI NGO –

  • MIL-OSI Australia: A strong Australian labour market

    Source: Australia Jobs and Skills

    A strong Australian labour market
    Linda

    News and updates
    Australian Labour Market for Migrants report is out. Hot Topic: English proficiency and labour market outcomes for skilled migrants.

    MIL OSI News –

  • MIL-OSI Australia: Recycling truck fire in Colac prompts warning

    Source: Victoria Country Fire Authority

    Photos by ACFO Craig Brittain

    CFA firefighters battled a recycling truck fire this morning at Colac which prompted a warning to the community to stay indoors.

    CFA was called to the truck fire on the corner of Calvert Street and Queen Street at 7.14am today.

    Firefighters found the rubbish in the recycling truck on fire and heavy haulage machinery was called to the scene to help lift the truck to empty its contents onto the ground.

    CFA District 6 Assistant Chief Fire Officer Craig Brittain said the volunteer firefighters who responded to this incident have done an amazing job.

    “On inspection there was quite a number of items such as aerosol cans that shouldn’t be in a recycling bin that have possibly caused the fire so we will investigate that further,” Craig said.

    “Community members need to please be careful what they put into rubbish bins.”

    An excavator was also called in to pull apart the rubbish to assist firefighting with extinguishing the fire.

    A Watch and Act message was issued asking people in the area to stay indoors due to the dangerous smoke from the burning plastic and other materials in the truck. That warning has since been downgraded to an Advice message.

    The incident was brought under control at 8.48am and declared safe at 9.05am.

    CFA has four trucks on scene from Colac, Cororooke and Larpent.

    Victoria Police and VICSES are also on scene.

    Submitted by CFA Media

    MIL OSI News –

  • MIL-OSI USA: FEMA Senior Leaders Continue to Survey Impacted Areas and Meet with Local Officials as Helene, Milton Recovery Progresses

    Source: US Federal Emergency Management Agency

    Headline: FEMA Senior Leaders Continue to Survey Impacted Areas and Meet with Local Officials as Helene, Milton Recovery Progresses

    FEMA Senior Leaders Continue to Survey Impacted Areas and Meet with Local Officials as Helene, Milton Recovery Progresses

    WASHINGTON – More than a month after Helene made landfall, FEMA officials remain on the ground coordinating with local officials in affected states to help guide their recovery.    Visits included Victoria Salinas, Senior Official Performing the Duties of Deputy Administrator, meeting with officials over several days in North Carolina and Florida. Salinas and other FEMA officials discussed how the communities were progressing in their recovery and surveyed the effectiveness of modern building codes in minimizing storm-related damage.FEMA has approved more than $1.3 billion in direct assistance to Hurricanes Helene and Milton survivors. These funds help survivors with housing repairs, personal property replacement and other essential recovery efforts. Additionally, over $1.1 billion has been approved for debris removal and emergency protective measures, which are necessary to save lives, protect public health and prevent further damage to public and private property. More than 1,400 FEMA Disaster Survivor Assistance team members are in affected neighborhoods across affected states helping survivors apply for assistance and connecting them with additional state, local, federal and voluntary agency resources. Also,FEMA now has 76 Disaster Recovery Centers open throughout the hurricane affected communities. Center locations can be found at FEMA.gov/DRC. Centers can provide survivors in-person help with their applications and answer questions they have about available resources to help with their recovery.The U.S. Army Corps of Engineers announced Operation Blue Roof which is a free service to homeowners for 25 counties in Florida impacted by Hurricane Milton. Residents can sign-up at www.blueroof.gov or by calling 888-ROOF-BLU (888-766-3258).  The sign-up period deadline is Nov. 5.FEMA encourages Helene and Milton survivors to apply for disaster assistance online as this remains the quickest way to start your recovery. Individuals can apply for federal assistance by: Applying online at disasterassistance.govUsing the FEMA AppCalling 800-621-3362, Staffed daily from 7 a.m.-10 p.m. local timeVisiting a Disaster Recovery Center to talk with FEMA and state agency officials and apply for assistancePresident Joseph R. Biden has approved major disaster declarations in six states–Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia–affected by Helene. He has also approved a major disaster declaration for Florida following Hurricane Milton.These photos highlight response and recovery efforts across states affected by hurricanes Helene and Milton. 

    SWANNANOA, North Carolina – FEMA sets up a mobile Disaster Recovery Center in an affected North Carolina community. Helene survivors in Swannanoa and nearby areas can visit this center to apply for federal disaster assistance and ask questions about available state and federal resources for their recovery. (Photo Credit: FEMA) 

    SAVANNAH, Georgia – FEMA staff and FEMA Corps members help survivors of Hurricane Helene at the Disaster Recovery Center in Savannah. (Photo Credit: FEMA)

    CORTEZ, Florida – Victoria Salinas, FEMA Senior Official Performing the Duties of Deputy Administrator, and other FEMA personnel join Manatee County officials in the Hunters Point Neighborhood in Cortez. There they spoke with an owner of a property development to talk about how building codes helped the community following the recent hurricanes. (Photo Credit: FEMA)

    COLLETSVILLE, North Carolina – Victoria Salinas, FEMA Senior Official Performing the Duties of Deputy Administrator, surveys the flood damage from Wilson Creek along Brown Mountain Road with members of the Collettsville Fire Department. Salinas also talked with the owners of the Brown Mountain Resort as they shared their story of surviving the flood from Hurricane Helene. (Photo Credit: FEMA)

    FEMA’s Disaster Recovery Toolkit provides graphics, social media copy and sample text in multiple languages. In addition, FEMA has set up a rumor response web page to reduce confusion about its role in the Helene and Milton response and recovery. 
    annie.bond
    Wed, 10/30/2024 – 17:58

    MIL OSI USA News –

  • MIL-OSI: Resource Capital Fund VI L.P. Ceases to be an Insider of Talon Metals Corp.

    Source: GlobeNewswire (MIL-OSI)

    DENVER, Oct. 30, 2024 (GLOBE NEWSWIRE) — Resource Capital Fund VI L.P. (“RCF”) reports that it has filed an early warning report under National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection to its shareholdings in Talon Metals Corp. (TSX: TLO) (“Talon”).

    On October 30, 2024, RCF sold 114,588,550 common shares of Talon (“Common Shares”) pursuant to a block trade through the facilities of the Toronto Stock Exchange (the “Block Sale”). The aggregate consideration received by RCF with respect to the Block Sale was C$9,167,084, or C$0.08 per Common Share.

    Immediately prior to the Block Sale, RCF owned and controlled a total of 114,588,550 Common Shares, representing approximately 12.26% of the issued and outstanding Common Shares of Talon. As a result of and immediately following the Block Sale, RCF held zero Common Shares of Talon.

    Immediately following the Block Sale, RCF no longer holds any Common Shares of Talon, and as such, is no longer subject to ongoing early warning or insider reporting requirements in respect of Talon.

    The sale of Common Shares was undertaken in the ordinary course of business for investment purposes, in accordance with RCF’s routine investment strategy to generate proceeds from its investment in Talon.

    Talon’s registered office is located at Craigmuir Chambers, P.O. Box 71, Road Town, Tortola, British Virgin Islands VG1110.

    To obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see Talon’s profile on the SEDAR+ website at www.sedarplus.ca.

    About Resource Capital Fund VI L.P.

    RCF is a Cayman Islands exempt limited partnership and a private investment fund. RCF is ultimately controlled by RCF Management L.L.C. For further information and to obtain a copy of the early warning report, please contact:

    Resource Capital Fund VI L.P.
    1400 Wewatta Street, Suite 850
    Denver, Colorado, 80202
    Telephone: (720) 946-1444
    Attn: Mason Hills

    The MIL Network –

  • MIL-OSI: Athabasca Oil Announces 2024 Third Quarter Results Highlighted by Strong Free Cash Flow and Continued Execution on Share Buybacks

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Oct. 30, 2024 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its third quarter results highlighting strong free cash flow underpinned by operational momentum at all assets and continued execution on its return of capital commitment through share buybacks.

    Corporate Consolidated Third Quarter Highlights

    • Production: Average production of 38,909 boe/d (98% Liquids), representing 8% growth year over year (16% on a per share basis). Annual production remains on track with previously increased 2024 guidance of 36,000 – 37,000 boe/d.
    • Cash Flow Growth: Adjusted Funds Flow of $164 million (cash flow from operating activities of $187 million) or $0.30 per share, representing 25% growth on a per share basis year over year. In 2024, the Company forecasts Adjusted Funds Flow of ~$555 million1, supported by increased operating scale and constructive Canadian heavy oil pricing. Athabasca forecasts ~100% growth in 2024 forecasted funds flow per share relative to 2022 when growth to 28,000 bbl/d at Leismer was sanctioned.
    • Differentiated Balance Sheet: Proactively refinanced the Company’s senior secured second lien Notes with $200 million of senior unsecured notes at a 6.75% coupon with a 2029 maturity. Consolidated Net Cash position of $135 million with Liquidity of $456 million, including $335 million in cash.
    • Resilient Producer: Competitively positioned with Thermal Oil sustaining capital to hold production flat funded within cash flow at ~US$50/bbl WTI1 and growth initiatives fully funded within cash flow at ~US$60/bbl WTI1.
    • Robust Free Cash Flow: Capital flexibility and balance sheet strength supports durable asset growth and return of capital initiatives for shareholders, resulting in continued top tier cash flow per share growth into the future. Athabasca expects to generate in excess of $1 billion of Free Cash Flow at US$70/bbl WTI1 after fully funding its growth program during the timeframe of 2024-27. The Company intends to release its 2025 capital budget in December.

    Return of Capital

    • Cumulative Return of Capital of ~$800 million. Commencing in the Fall of 2021 a deliberate strategy prioritized $385 million of debt reduction. Share buybacks commenced in 2023 and have totaled $415 million to date.
    • 2024 Return of Capital Commitment: Athabasca (Thermal Oil) is allocating 100% of Free Cash Flow to share buybacks in 2024. Year to date the Company has completed $257 million in share buybacks and forecasts 2024 Free Cash Flow of ~$315 million1.
    • Focus on Per Share Metrics: A steadfast commitment to return of capital has driven an ~104 million share reduction (~16%) in the Company’s fully diluted share count since March 31, 2023.

    Athabasca (Thermal Oil) Third Quarter Highlights

    • Production: ~34,900 bbl/d supported by growth at Leismer (record quarter at ~27,500 bbl/d) and stability at Hangingstone (~7,400 bbl/d).
    • Cash Flow: Adjusted Funds Flow of $150 million with an Operating Netback of $49.68/bbl.
    • Capital Program: $44 million of capital focused on sustaining operations at Leismer and Hangingstone. 2024 capital program forecast of ~$195 million including the commencement of progressive growth to 40,000 bbl/d at Leismer. The Company is currently drilling four new well pairs and six redrill opportunities at Leismer with production expected in early 2025. Two new well pairs at Hangingstone (1,400 meter laterals) will begin steaming in late November with production expected in early 2025.
    • Free Cash Flow: $106 million of Free Cash Flow supporting return of capital commitments.

    Duvernay Energy Corporation (“DEC”) Third Quarter Highlights

    • Production: ~4,100 boe/d (77% Liquids) supported by production from two new pads placed on production in the spring. Results continue to support management’s type curve expectations with restricted IP180s/well averaging ~840 boe/d (82% Liquids) on the 2-well 100% working interest (“WI”) pad and IP120s/well averaging ~835 boe/d (85% Liquids) on the 3-well 30% WI pad.
    • Cash Flow: Adjusted Funds Flow of $14 million with an Operating Netback of $44.20/boe.
    • Capital Program: $6 million focused on commencing a 3-well 100% WI pad at 04-18-64-16W5 which spud in early September. The first two wells have been cased with lateral lengths averaging ~4,000 meters per well. The pad is expected to be completed in 2025. The 2024 capital program forecast is ~$75 million, fully funded within cash flow and cash on hand in DEC.

    Corporate Consolidated Strategy

    • Value Creation: The Company’s Thermal Oil division provides a differentiated liquids weighted growth platform supported by financial resiliency to execute on return of capital initiatives. Athabasca’s subsidiary company, Duvernay Energy Corporation, is designed to enhance value for Athabasca’s shareholders by providing a clear path for self-funded production and cash flow growth in the Kaybob Duvernay resource play. Athabasca (Thermal Oil) and Duvernay Energy have independent strategies and capital allocation frameworks.
    • Consolidated Free Cash Flow Growth: Athabasca’s capital allocation framework is designed to unlock shareholder value by prioritizing multi‐year cash flow per share growth. In 2024, Athabasca forecasts Corporate Consolidated Adjusted Funds Flow of ~$555 million or ~$1 per share, representing ~100% per share growth over 2022 when the Company sanctioned growth to 28,000 bbl/d at Leismer. The Company’s outlook targets ~20% net Adjusted Funds Flow per share compound annual growth rate during the three-year time to 20272.

    Athabasca (Thermal Oil) Strategy

    • Large Resource Base: Athabasca’s top-tier assets underpin a strong Free Cash Flow outlook with low sustaining capital requirements. The long life, low decline asset base includes ~1.2 billion barrels of Proved plus Probable reserves and ~1 billion barrels of Contingent Resource.
    • Strong Financial Position: Prudent balance sheet management is a core tenet of Athabasca’s strategy. During the quarter, Athabasca issued $200 million 6.75% senior unsecured notes due in 2029 and redeemed US$157 million 9.75% senior secured second lien notes due in 2026. The Company proactively refinanced its debt on attractive terms and maintains strategic flexibility with a Net Cash position.
    • Capital Efficient Leismer Expansions: As previously announced, the Company has sanctioned expansion plans at Leismer for growth to 40,000 bbl/d. This will be completed utilizing a progressive build strategy that adds incremental production in the coming years with the full capacity to be achieved in 2028. The capital for this project is estimated at $300 million for a capital efficiency of ~$25,000/bbl/d. The Company can maintain 40,000 bbl/d for approximately fifty years (Proved plus Probable Reserves).
    • Sustaining Hangingstone: Steaming on two new sustaining well pairs will occur later this year with first production expected in early 2025. These wells will support base production with the objective of ensuring Hangingstone continues to deliver meaningful cash flow contributions to the Company and maintaining competitive netbacks ($48.39/bbl Q3 2024 Operating Netback).
    • Corner – Future Optionality: The Company’s Corner asset is a large de-risked oil sands asset adjacent to Leismer with 351 million barrels of Proved plus Probable reserves and 520 million barrels Contingent Resource (Best Estimate Unrisked). There are over 300 delineation wells and ~80% seismic coverage, with reservoir qualities similar or better than Leismer. The asset has a 40,000 bbl/d regulatory approval for development with the existing pipeline corridor passing through the Corner lease. The Company has updated its development plans and is finalizing facility cost estimates. Athabasca intends to explore external funding options and does not plan to fund an expansion utilizing existing cash flow or balance sheet resources.
    • Exposure to Improving Heavy Oil Pricing: With the start-up of the Trans Mountain pipeline expansion (590,000 bbl/d) in early May, spare pipeline capacity is driving tighter and less volatile WCS heavy differentials. Regional liquids pricing benchmarks have also been supported by a depreciating Canadian currency relative to the United States. Every US$5/bbl WCS change impacts Athabasca (Thermal Oil) Adjusted Funds Flow by ~$85 million annually.
    • Significant Multi-Year Free Cash Flow: Inclusive of the progressive growth at Leismer, Athabasca (Thermal Oil) expects to generate in excess of $1 billion of Free Cash Flow at US$70 WTI1 during the timeframe of 2024-27. Free Cash Flow will continue to support the Company’s return of capital initiatives.
    • Thermal Oil Royalty Advantage: Athabasca has significant unrecovered capital balances on its Thermal Oil Assets that ensure a low Crown royalty framework (~6%1). Leismer is forecasted to remain pre-payout until late 20271 and Hangingstone is forecasted to remain pre-payout beyond 20301.
    • Tax Free Horizon Advantage: Athabasca (Thermal Oil) has $2.4 billion of valuable tax pools and does not forecast paying cash taxes this decade.

    Duvernay Energy Strategy

    • Accelerating Value: DEC is an operated, private subsidiary of Athabasca (owned 70% by Athabasca and 30% by Cenovus Energy). DEC accelerates value realization for Athabasca’s shareholders by providing a clear path for self-funded production and cash flow growth without compromising Athabasca’s capacity to fund its Thermal Oil assets or its return of capital strategy.
    • Kaybob Duvernay Focused: Exposure to ~200,000 gross acres in the liquids rich and oil windows with ~500 gross future well locations, including ~46,000 gross acres with 100% working interest.
    • Self-Funded Growth: Current activity is being funded within cash flow and cash on hand. The 2024 program includes drilling and completions of a two-well 100% WI pad and a three-well 30% WI pad along with the spudding an additional multi-well pad in September 2024. The Company has self-funded growth potential to in excess of ~20,000 boe/d (75% Liquids) by the late 2020s1.

    Footnote: Refer to the “Reader Advisory” section within this news release for additional information on Non‐GAAP Financial Measures (e.g. Adjusted Funds Flow, Free Cash Flow, Sustaining Capital, Net Cash, Liquidity) and production disclosure.

    1Pricing Assumptions: realized prices January – October and flat pricing of US$70 WTI, US$12.50 WCS heavy differential, C$2 AECO, and 0.73 C$/US$ FX for the balance of 2024. 2025-27 US$70 WTI, US$12.50 WCS heavy differential, C$3.00 AECO, and 0.75 C$/US$ FX.
    2The Company’s illustrative multi-year outlook assumes a 10% annual share buyback program at an implied share price of 4.5x EV/Debt Adjusted Cash flow in 2025 and beyond.

    Financial and Operational Highlights

      Three months ended
    September 30,    		   Nine months ended
    September 30,    		  
    ($ Thousands, unless otherwise noted) 2024     2023     2024     2023    
    CORPORATE CONSOLIDATED(1)                
    Petroleum and natural gas production (boe/d)(2)   38,909       36,176       36,675       34,950    
    Petroleum, natural gas and midstream sales $ 376,781     $ 379,241     $ 1,089,635     $ 952,596    
    Operating Income(2) $ 180,184     $ 168,410     $ 465,070     $ 320,063    
    Operating Income Net of Realized Hedging(2)(3) $ 175,755     $ 164,643     $ 460,511     $ 289,645    
    Operating Netback ($/boe)(2) $ 49.12     $ 50.84     $ 46.36     $ 33.27    
    Operating Netback Net of Realized Hedging ($/boe)(2)(3) $ 47.91     $ 49.70     $ 45.91     $ 30.11    
    Capital expenditures $ 50,634     $ 33,286     $ 175,098     $ 101,080    
    Cash flow from operating activities $ 187,143     $ 134,879     $ 398,864     $ 202,330    
    per share – basic $ 0.35     $ 0.23     $ 0.72     $ 0.34    
    Adjusted Funds Flow(2) $ 163,680     $ 141,138     $ 417,198     $ 213,406    
    per share – basic $ 0.30     $ 0.24     $ 0.75     $ 0.36    
    ATHABASCA (THERMAL OIL)                
    Bitumen production (bbl/d)(2)   34,853       31,691       33,390       29,972    
    Petroleum, natural gas and midstream sales $ 372,634     $ 360,761     $ 1,072,954     $ 895,167    
    Operating Income(2) $ 163,694     $ 155,415     $ 425,837     $ 278,533    
    Operating Netback ($/bbl)(2) $ 49.68     $ 53.59     $ 46.64     $ 33.72    
    Capital expenditures $ 44,431     $ 34,439     $ 120,634     $ 89,604    
    Adjusted Funds Flow(2) $ 150,088         $ 383,214        
    Free Cash Flow(2) $ 105,657         $ 262,580        
    DUVERNAY ENERGY(1)                
    Petroleum and natural gas production (boe/d)(2)   4,056       4,485       3,285       4,978    
    Percentage Liquids (%)(2) 77 %   55 %   77 %   56 %  
    Petroleum, natural gas and midstream sales $ 24,728     $ 24,508     $ 63,015     $ 78,403    
    Operating Income(2) $ 16,490     $ 12,995     $ 39,233     $ 41,530    
    Operating Netback ($/boe)(2) $ 44.20     $ 31.50     $ 43.59     $ 30.56    
    Capital expenditures $ 6,203     $ (1,153 )   $ 54,464     $ 11,476    
    Adjusted Funds Flow(2) $ 13,592         $ 33,984        
    Free Cash Flow(2) $ 7,389         $ (20,480 )      
    NET INCOME AND COMPREHENSIVE INCOME                
    Net income and comprehensive income(4) $ 68,722     $ (79,212 )   $ 203,407     $ (78,726 )  
    per share – basic(4) $ 0.13     $ (0.14 )   $ 0.37     $ (0.13 )  
    per share – diluted(4) $ 0.12     $ (0.14 )   $ 0.36     $ (0.13 )  
    COMMON SHARES OUTSTANDING                
    Weighted average shares outstanding – basic   540,884,257       581,917,255       555,035,218       586,906,810    
    Weighted average shares outstanding – diluted   550,712,443       581,917,255       559,203,568       586,906,810    
          September 30   December 31  
    As at ($ Thousands)     2024   2023  
    LIQUIDITY AND BALANCE SHEET            
    Cash and cash equivalents     $ 334,851   $ 343,309  
    Available credit facilities(5)     $ 121,316   $ 85,488  
    Face value of term debt(6)     $ 200,000   $ 207,648  

    (1) Corporate Consolidated and Duvernay Energy reflect gross production and financial metrics before taking into consideration Athabasca’s 70% equity interest in Duvernay Energy.
    (2) Refer to the “Reader Advisory” section within this News Release for additional information on Non-GAAP Financial Measures and production disclosure.
    (3) Includes realized commodity risk management loss of $4.4 million and $4.6 million for the three and nine months ended September 30, 2024 (three and nine months ended September 30, 2023 – loss of $3.8 million and $30.4 million).
    (4) Net income (loss) and comprehensive income (loss) per share amounts are based on net income (loss) and comprehensive income (loss) attributable to shareholders of the Parent Company. In the calculation of diluted net income (loss) per share for the three months ended September 30, 2024 net income (loss) was reduced by $2.6 million to account for the impact to net income (loss) had the outstanding warrants been converted to equity.
    (5) Includes available credit under Athabasca’s and Duvernay Energy’s Credit Facilities and Athabasca’s Unsecured Letter of Credit Facility.
    (6) The face value of the term debt at December 31, 2023 was US$157.0 million translated into Canadian dollars at the December 31, 2023 exchange rate of US$1.00 = C$1.3226.

    Operations Update

    Athabasca (Thermal Oil)

    Production for the third quarter of 2024 averaged 34,853 bbl/d. The Thermal Oil division generated Operating Income of $164 million (Operating Netbacks – $50.05/bbl at the Leismer and $48.39/bbl at Hangingstone) during the period with capital expenditures of $44 million, primarily related to drilling and completions, and progressing future growth initiatives at Leismer.

    Leismer

    Leismer produced a record 27,485 bbl/d during the quarter following the completion of the facility expansion. The Company is continuing with progressive growth to increase Leismer production to 40,000 bbl/d (regulatory approved capacity) over the next three years. These capital projects are flexible and highly economic (~$25,000/bbl/d capital efficiency) and will maximize value creation when executed alongside the Company’s return of capital initiatives. Activity over the next three years will include drilling ~20 well pairs (sustaining and growth wells), expanding steam capacity to ~130,000 bbl/d and adding oil processing capacity at the central processing facility. The project will benefit from installing opportunistically pre-purchased steam generators which reduce the timelines and costs for the project.

    Activity in H2 2024 includes drilling four sustaining well pairs at Pad L10 and six extended redrills on Pad L1, with production expected in early 2025.

    Hangingstone

    Production during the quarter averaged 7,368 bbl/d. Non-condensable gas co-injection continues to assist in pressure support, reduced energy usage and an improved SOR averaging ~3.4x year to date. During the quarter the Company rig released two ~1,400 meter well pairs with first steam planned for later this year and production in early 2025. Well design with extended reach laterals is expected to drive project capital efficiencies of ~$15,000/bbl/d and will leverage off available plant and infrastructure capacity. These sustaining well pairs will support base production with the objective of ensuring Hangingstone continues to deliver meaningful cash flow contributions to the Company and maintaining competitive netbacks.

    Duvernay Energy

    Production for the third quarter of 2024 averaged 4,056 boe/d (77% Liquids). Duvernay Energy generated Operating Income of $16 million (Operating Netback – $44.20/boe) during the period.

    Duvernay Energy brought its two-well 100% working interest pad at 03-18-64-17W5 on production in late April. The pad generated an average restricted 180-day rate of ~840 boe/d per well (82% liquids). A three well pad (30% working interest) at 02-03-65-20W5 was brought on production in late May, with an approximate 120-day rate of ~835 boe/d per well (85% liquids). Both pads are performing in-line with management’s expectations and are exhibiting strong extended results with high liquids content. The Company spud a three-well 100% working interest pad at 4-18-64-16W5 in September. Two wells have been cased on this pad with average laterals of ~4,000 meters per well. The operated pad of wells is expected to be completed in 2025.

    About Athabasca Oil Corporation

    Athabasca Oil Corporation is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. Situated in Alberta’s Western Canadian Sedimentary Basin, the Company has amassed a significant land base of extensive, high quality resources. Athabasca’s light oil assets are held in a private subsidiary (Duvernay Energy Corporation) in which Athabasca owns a 70% equity interest. Athabasca’s common shares trade on the TSX under the symbol “ATH”. For more information, visit www.atha.com.

    For more information, please contact:

    Reader Advisory:

    This News Release contains forward-looking information that involves various risks, uncertainties and other factors. All information other than statements of historical fact is forward-looking information. The use of any of the words “anticipate”, “plan”, “project”, “continue”, “maintain”, “may”, “estimate”, “expect”, “will”, “target”, “forecast”, “could”, “intend”, “potential”, “guidance”, “outlook” and similar expressions suggesting future outcome are intended to identify forward-looking information. The forward-looking information is not historical fact, but rather is based on the Company’s current plans, objectives, goals, strategies, estimates, assumptions and projections about the Company’s industry, business and future operating and financial results. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. No assurance can be given that these expectations will prove to be correct and such forward-looking information included in this News Release should not be unduly relied upon. This information speaks only as of the date of this News Release. In particular, this News Release contains forward-looking information pertaining to, but not limited to, the following: our strategic plans; the allocation of future capital; timing and quantum for shareholder returns including share buybacks; the terms of our NCIB program; our drilling plans and capital efficiencies; production growth to expected production rates and estimated sustaining capital amounts; timing of Leismer’s and Hangingstone’s pre-payout royalty status; applicability of tax pools and the timing of tax payments; expected operating results at Hangingstone; Adjusted Funds Flow and Free Cash Flow in 2024 and 2025 to 2027; type well economic metrics; number of drilling locations; forecasted daily production and the composition of production; our outlook in respect of the Company’s business environment, including in respect of the Trans Mountain pipeline expansion and heavy oil pricing; and other matters.

    In addition, information and statements in this News Release relating to “Reserves” and “Resources” are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated, and that the reserves and resources described can be profitably produced in the future. With respect to forward-looking information contained in this News Release, assumptions have been made regarding, among other things: commodity prices; the regulatory framework governing royalties, taxes and environmental matters in the jurisdictions in which the Company conducts and will conduct business and the effects that such regulatory framework will have on the Company, including on the Company’s financial condition and results of operations; the Company’s financial and operational flexibility; the Company’s financial sustainability; Athabasca’s cash flow break-even commodity price; the Company’s ability to obtain qualified staff and equipment in a timely and cost-efficient manner; the applicability of technologies for the recovery and production of the Company’s reserves and resources; future capital expenditures to be made by the Company; future sources of funding for the Company’s capital programs; the Company’s future debt levels; future production levels; the Company’s ability to obtain financing and/or enter into joint venture arrangements, on acceptable terms; operating costs; compliance of counterparties with the terms of contractual arrangements; impact of increasing competition globally; collection risk of outstanding accounts receivable from third parties; geological and engineering estimates in respect of the Company’s reserves and resources; recoverability of reserves and resources; the geography of the areas in which the Company is conducting exploration and development activities and the quality of its assets. Certain other assumptions related to the Company’s Reserves and Resources are contained in the report of McDaniel & Associates Consultants Ltd. (“McDaniel”) evaluating Athabasca’s Proved Reserves, Probable Reserves and Contingent Resources as at December 31, 2023 (which is respectively referred to herein as the “McDaniel Report”).

    Actual results could differ materially from those anticipated in this forward-looking information as a result of the risk factors set forth in the Company’s Annual Information Form (“AIF”) dated February 29, 2024 available on SEDAR at www.sedarplus.ca, including, but not limited to: weakness in the oil and gas industry; exploration, development and production risks; prices, markets and marketing; market conditions; climate change and carbon pricing risk; statutes and regulations regarding the environment including deceptive marketing provisions; regulatory environment and changes in applicable law; gathering and processing facilities, pipeline systems and rail; reputation and public perception of the oil and gas sector; environment, social and governance goals; political uncertainty; state of capital markets; ability to finance capital requirements; access to capital and insurance; abandonment and reclamation costs; changing demand for oil and natural gas products; anticipated benefits of acquisitions and dispositions; royalty regimes; foreign exchange rates and interest rates; reserves; hedging; operational dependence; operating costs; project risks; supply chain disruption; financial assurances; diluent supply; third party credit risk; indigenous claims; reliance on key personnel and operators; income tax; cybersecurity; advanced technologies; hydraulic fracturing; liability management; seasonality and weather conditions; unexpected events; internal controls; limitations and insurance; litigation; natural gas overlying bitumen resources; competition; chain of title and expiration of licenses and leases; breaches of confidentiality; new industry related activities or new geographical areas; water use restrictions and/or limited access to water; relationship with Duvernay Energy Corporation; management estimates and assumptions; third-party claims; conflicts of interest; inflation and cost management; credit ratings; growth management; impact of pandemics; ability of investors resident in the United States to enforce civil remedies in Canada; and risks related to our debt and securities. All subsequent forward-looking information, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements.

    Also included in this News Release are estimates of Athabasca’s 2024 outlook which are based on the various assumptions as to production levels, commodity prices, currency exchange rates and other assumptions disclosed in this News Release. To the extent any such estimate constitutes a financial outlook, it was approved by management and the Board of Directors of Athabasca and is included to provide readers with an understanding of the Company’s outlook. Management does not have firm commitments for all of the costs, expenditures, prices or other financial assumptions used to prepare the financial outlook or assurance that such operating results will be achieved and, accordingly, the complete financial effects of all of those costs, expenditures, prices and operating results are not objectively determinable. The actual results of operations of the Company and the resulting financial results may vary from the amounts set forth herein, and such variations may be material. The outlook and forward-looking information contained in this New Release was made as of the date of this News release and the Company disclaims any intention or obligations to update or revise such outlook and/or forward-looking information, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law.

    Oil and Gas Information

    “BOEs” may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (6 Mcf: 1 bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

    Initial Production Rates 

    Test Results and Initial Production Rates: The well test results and initial production rates provided herein should be considered to be preliminary, except as otherwise indicated. Test results and initial production rates disclosed herein may not necessarily be indicative of long-term performance or of ultimate recovery.

    Reserves Information

    The McDaniel Report was prepared using the assumptions and methodology guidelines outlined in the COGE Handbook and in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities, effective December 31, 2023. There are numerous uncertainties inherent in estimating quantities of bitumen, light crude oil and medium crude oil, tight oil, conventional natural gas, shale gas and natural gas liquids reserves and the future cash flows attributed to such reserves. The reserve and associated cash flow information set forth above are estimates only. In general, estimates of economically recoverable reserves and the future net cash flows therefrom are based upon a number of variable factors and assumptions, such as historical production from the properties, production rates, ultimate reserve recovery, timing and amount of capital expenditures, marketability of oil and natural gas, royalty rates, the assumed effects of regulation by governmental agencies and future operating costs, all of which may vary materially. For those reasons, estimates of the economically recoverable reserves attributable to any particular group of properties, classification of such reserves based on risk of recovery and estimates of future net revenues associated with reserves prepared by different engineers, or by the same engineers at different times, may vary. The Company’s actual production, revenues, taxes and development and operating expenditures with respect to its reserves will vary from estimates thereof and such variations could be material. Reserves figures described herein have been rounded to the nearest MMbbl or MMboe. For additional information regarding the consolidated reserves and information concerning the resources of the Company as evaluated by McDaniel in the McDaniel Report, please refer to the Company’s AIF.

    Reserve Values (i.e. Net Asset Value) is calculated using the estimated net present value of all future net revenue from our reserves, before income taxes discounted at 10%, as estimated by McDaniel effective December 31, 2023 and based on average pricing of McDaniel, Sproule and GLJ as of January 1, 2024.

    The 500 gross Duvernay drilling locations referenced include: 37 proved undeveloped locations and 76 probable undeveloped locations for a total of 113 booked locations with the balance being unbooked locations. Proved undeveloped locations and probable undeveloped locations are booked and derived from the Company’s most recent independent reserves evaluation as prepared by McDaniel as of December 31, 2023 and account for drilling locations that have associated proved and/or probable reserves, as applicable. Unbooked locations are internal management estimates. Unbooked locations do not have attributed reserves or resources (including contingent or prospective). Unbooked locations have been identified by management as an estimation of Athabasca’s multi-year drilling activities expected to occur over the next two decades based on evaluation of applicable geologic, seismic, engineering, production and reserves information. There is no certainty that the Company will drill all unbooked drilling locations and if drilled there is no certainty that such locations will result in additional oil and gas reserves, resources or production. The drilling locations on which the Company will actually drill wells, including the number and timing thereof is ultimately dependent upon the availability of funding, commodity prices, provincial fiscal and royalty policies, costs, actual drilling results, additional reservoir information that is obtained and other factors.

    Non-GAAP and Other Financial Measures, and Production Disclosure

    The “Corporate Consolidated Adjusted Funds Flow”, “Corporate Consolidated Adjusted Funds Flow per Share”, “Athabasca (Thermal Oil) Adjusted Funds Flow”, “Duvernay Energy Adjusted Funds Flow”, “Corporate Consolidated Free Cash Flow”, “Athabasca (Thermal Oil) Free Cash Flow”, “Duvernay Energy Free Cash Flow”, “Corporate Consolidated Operating Income”, “Corporate Consolidated Operating Income Net of Realized Hedging”, “Athabasca (Thermal Oil) Operating Income”, “Duvernay Energy Operating Income”, “Corporate Consolidated Operating Netback”, “Corporate Consolidated Operating Netback Net of Realized Hedging”, “Athabasca (Thermal Oil) Operating Netback”, “Duvernay Energy Operating Netback” and “Cash Transportation and Marketing Expense” financial measures contained in this News Release do not have standardized meanings which are prescribed by IFRS and they are considered to be non-GAAP financial measures or ratios. These measures may not be comparable to similar measures presented by other issuers and should not be considered in isolation with measures that are prepared in accordance with IFRS. Sustaining Capital, Net Cash and Liquidity are supplementary financial measures. The Leismer and Hangingstone operating results are supplementary financial measures that when aggregated, combine to the Athabasca (Thermal Oil) segment results.

    Adjusted Funds Flow, Adjusted Funds Flow Per Share and Free Cash Flow

    Adjusted Funds Flow and Free Cash Flow are non-GAAP financial measures and are not intended to represent cash flow from operating activities, net earnings or other measures of financial performance calculated in accordance with IFRS. The Adjusted Funds Flow and Free Cash Flow measures allow management and others to evaluate the Company’s ability to fund its capital programs and meet its ongoing financial obligations using cash flow internally generated from ongoing operating related activities. Adjusted Funds Flow per share is a non-GAAP financial ratio calculated as Adjusted Funds Flow divided by the applicable number of weighted average shares outstanding. Adjusted Funds Flow and Free Cash Flow are calculated as follows:

      Three months ended
    September 30, 2024    		   Three months ended
    September 30, 2023    		  
    ($ Thousands) Athabasca
    (Thermal Oil)    		   Duvernay Energy(1)   Corporate Consolidated(1)   Corporate Consolidated  
    Cash flow from operating activities $ 169,950   $ 17,193   $ 187,143   $ 134,879  
    Changes in non-cash working capital   (20,201 )   (3,401 )   (23,602 )   5,898  
    Settlement of provisions   339     (200 )   139     361  
    ADJUSTED FUNDS FLOW   150,088     13,592     163,680     141,138  
    Capital expenditures   (44,431 )   (6,203 )   (50,634 )   (33,286 )
    FREE CASH FLOW $ 105,657   $ 7,389   $ 113,046   $ 107,852  

    (1) Duvernay Energy and Corporate Consolidated reflect gross financial metrics before taking into consideration Athabasca’s 70% equity interest in Duvernay Energy.

      Nine months ended
    September 30, 2024    		   Nine months ended
    September 30, 2023    		  
    ($ Thousands) Athabasca
    (Thermal Oil)    		   Duvernay Energy(1)   Corporate Consolidated(1)   Corporate Consolidated  
    Cash flow from operating activities $ 367,018   $ 31,846   $ 398,864   $ 202,330  
    Changes in non-cash working capital   14,560     2,134     16,694     22,498  
    Settlement of provisions   1,636     4     1,640     1,155  
    Long-term deposit   —     —     —     (12,577 )
    ADJUSTED FUNDS FLOW   383,214     33,984     417,198     213,406  
    Capital expenditures   (120,634 )   (54,464 )   (175,098 )   (101,080 )
    FREE CASH FLOW $ 262,580   $ (20,480 ) $ 242,100   $ 112,326  

    (1) Duvernay Energy and Corporate Consolidated reflect gross financial metrics before taking into consideration Athabasca’s 70% equity interest in Duvernay Energy.

    Duvernay Energy Operating Income and Operating Netback

    The non-GAAP measure Duvernay Energy Operating Income in this News Release is calculated by subtracting the Duvernay Energy royalties, operating expenses and transportation & marketing expenses from petroleum and natural gas sales which is the most directly comparable GAAP measure. The Duvernay Energy Operating Netback per boe is a non-GAAP financial ratio calculated by dividing the Duvernay Energy Operating Income by the Duvernay Energy production. The Duvernay Energy Operating Income and the Duvernay Energy Operating Netback measures allow management and others to evaluate the production results from the Company’s Duvernay Energy assets.

    The Duvernay Energy Operating Income is calculated using the Duvernay Energy Segments GAAP results, as follows:

      Three months ended
    September 30,    		   Nine months ended
    September 30,    		  
    ($ Thousands, unless otherwise noted) 2024   2023   2024   2023  
    Petroleum and natural gas sales $ 24,728   $ 24,508   $ 63,015   $ 78,403  
    Royalties   (2,470 )   (3,510 )   (8,282 )   (10,403 )
    Operating expenses   (4,684 )   (5,964 )   (12,387 )   (19,988 )
    Transportation and marketing   (1,084 )   (2,039 )   (3,113 )   (6,482 )
    DUVERNAY ENERGY OPERATING INCOME $ 16,490   $ 12,995   $ 39,233   $ 41,530  


    Athabasca (Thermal Oil) Operating Income and Operating Netback

    The non-GAAP measure Athabasca (Thermal Oil) Operating Income in this News Release is calculated by subtracting the Athabasca (Thermal Oil) segments cost of diluent blending, royalties, operating expenses and cash transportation & marketing expenses from heavy oil (blended bitumen) and midstream sales which is the most directly comparable GAAP measure. The Athabasca (Thermal Oil) Operating Netback per bbl is a non-GAAP financial ratio calculated by dividing the respective projects Operating Income by its respective bitumen sales volumes. The Athabasca (Thermal Oil) Operating Income and the Athabasca (Thermal Oil) Operating Netback measures allow management and others to evaluate the production results from the Athabasca (Thermal Oil) assets. The Athabasca (Thermal Oil) Operating Income is calculated using the Athabasca (Thermal Oil) Segments GAAP results, as follows:

      Three months ended
    September 30,    		   Nine months ended
    September 30,    		  
    ($ Thousands) 2024   2023   2024   2023  
    Heavy oil (blended bitumen) and midstream sales $ 372,634   $ 360,761   $ 1,072,954   $ 895,167  
    Cost of diluent   (129,965 )   (117,418 )   (411,991 )   (380,781 )
    Total bitumen and midstream sales   242,669     243,343     660,963     514,386  
    Royalties   (22,291 )   (27,613 )   (62,651 )   (45,170 )
    Operating expenses – non-energy   (24,903 )   (19,521 )   (72,445 )   (63,349 )
    Operating expenses – energy   (9,994 )   (20,572 )   (38,187 )   (64,118 )
    Transportation and marketing(1)   (21,787 )   (20,222 )   (61,843 )   (63,216 )
    ATHABASCA (THERMAL OIL) OPERATING INCOME $ 163,694   $ 155,415   $ 425,837   $ 278,533  

    (1) Transportation and marketing excludes non-cash costs of $0.6 million and $1.7 million for the three and nine months ended September 30, 2024 (three and nine months ended September 30, 2023 – $0.6 million and $1.7 million).

    Corporate Consolidated Operating Income and Corporate Consolidated Operating Income Net of Realized Hedging and Operating Netbacks

    The non-GAAP measures of Corporate Consolidated Operating Income including or excluding realized hedging in this News Release are calculated by adding or subtracting realized gains (losses) on commodity risk management contracts (as applicable), royalties, the cost of diluent blending, operating expenses and cash transportation & marketing expenses from petroleum, natural gas and midstream sales which is the most directly comparable GAAP measure. The Corporate Consolidated Operating Netbacks including or excluding realized hedging per boe are non-GAAP ratios calculated by dividing Corporate Consolidated Operating Income including or excluding hedging by the total sales volumes and are presented on a per boe basis. The Corporate Consolidated Operating Income and Corporate Consolidated Operating Netbacks including or excluding realized hedging measures allow management and others to evaluate the production results from the Company’s Duvernay Energy and Athabasca (Thermal Oil) assets combined together including the impact of realized commodity risk management gains or losses (as applicable).

      Three months ended
    September 30,    		   Nine months ended
    September 30,    		  
    ($ Thousands) 2024   2023   2024   2023  
    Petroleum, natural gas and midstream sales(1) $ 397,362   $ 385,269   $ 1,135,969   $ 973,570  
    Royalties   (24,761 )   (31,123 )   (70,933 )   (55,573 )
    Cost of diluent(1)   (129,965 )   (117,418 )   (411,991 )   (380,781 )
    Operating expenses   (39,581 )   (46,057 )   (123,019 )   (147,455 )
    Transportation and marketing(2)   (22,871 )   (22,261 )   (64,956 )   (69,698 )
    Operating Income   180,184     168,410     465,070     320,063  
    Realized loss on commodity risk mgmt. contracts   (4,429 )   (3,767 )   (4,559 )   (30,418 )
    OPERATING INCOME NET OF REALIZED HEDGING $ 175,755   $ 164,643   $ 460,511   $ 289,645  

    (1) Non-GAAP measure includes intercompany NGLs (i.e. condensate) sold by the Duvernay Energy segment to the Athabasca (Thermal Oil) segment for use as diluent that is eliminated on consolidation.
    (2) Transportation and marketing excludes non-cash costs of $0.6 million and $1.7 million for the three and nine months ended September 30, 2024 (three and nine months ended September 30, 2023 – $0.6 million and $1.7 million).

    Cash Transportation and Marketing Expense

    The Cash Transportation and Marketing Expense financial measures contained in this News Release are calculated by subtracting the non-cash transportation and marketing expense as reported in the Consolidated Statement of Cash Flows from the transportation and marketing expense as reported in the Consolidated Statement of Income (Loss) and are considered to be non-GAAP financial measures.

    Sustaining Capital

    Sustaining Capital is managements’ assumption of the required capital to maintain the Company’s production base.

    Net Cash

    Net Cash is defined as the face value of term debt, plus accounts payable and accrued liabilities, plus current portion of provisions and other liabilities plus income tax payable less current assets, excluding risk management contracts.

    Liquidity

    Liquidity is defined as cash and cash equivalents plus available credit capacity.

    Production volumes details

      Three months ended
    September 30,    		   Nine months ended
    September 30,
    Production 2024   2023   2024   2023
    Duvernay Energy:                      
    Oil(1) bbl/d 2,688     1,398     2,235     1,461
    Condensate NGLs bbl/d —     581     —     705
    Oil and condensate NGLs bbl/d 2,688     1,979     2,235     2,166
    Other NGLs bbl/d 447     528     298     615
    Natural gas(2) mcf/d 5,526     11,869     4,511     13,181
    Total Duvernay Energy boe/d 4,056     4,485     3,285     4,978
    Total Thermal Oil bitumen bbl/d 34,853     31,691     33,390     29,972
    Total Company production boe/d 38,909     36,176     36,675     34,950

    (1) Comprised of 99% or greater of tight oil, with the remaining being light and medium crude oil.
    (2) Comprised of 99% or greater of shale gas, with the remaining being conventional natural gas.

    This News Release also makes reference to Athabasca’s forecasted average daily Thermal Oil production of 33,000 – 34,000 bbl/d for 2024. Athabasca expects that 100% of that production will be comprised of bitumen. Duvernay Energy’s forecasted total average daily production of ~3,000 boe/d for 2024 is expected to be comprised of approximately 67% tight oil, 23% shale gas and 10% NGLs.

    Liquids is defined as bitumen, light crude oil, medium crude oil and natural gas liquids.

    Footnote: Refer to the “Reader Advisory” section within this news release for additional information on Non‐GAAP Financial Measures (e.g. Adjusted Funds Flow, Free Cash Flow, Sustaining Capital, Net Cash, Liquidity) and production disclosure.

    1 Pricing Assumptions: realized prices January – October and flat pricing of US$70 WTI, US$12.50 WCS heavy differential, C$2 AECO, and 0.73 C$/US$ FX for the balance of 2024. 2025-27 US$70 WTI, US$12.50 WCS heavy differential, C$3.00 AECO, and 0.75 C$/US$ FX.
    2 The Company’s illustrative multi-year outlook assumes a 10% annual share buyback program at an implied share price of 4.5x EV/Debt Adjusted Cash flow in 2025 and beyond.

    The MIL Network –

  • MIL-OSI Economics: Multidonor Fund for the Chocó Biogeographic Region: An International Commitment to Biodiversity and Environmental Justice

    Source: CAF Development Bank of Latin America

    Last night’s gathering featured Costa Rica’s Foreign Minister, Arnoldo Andrés Tinoco; CAF – Development Bank of Latin America and the Caribbean – President, Sergio Díaz Granados; and Panama’s Special Representative for Climate Change, Juan Carlos Montero.

    Colombian Foreign Minister Luis Gilberto Murillo emphasized the strong link between cultural and biological diversity, noting that the Chocó Biogeographic region is one of the most biodiverse places on Earth per square meter, protected by its people. He urged the world to recognize this, stating that “this visibility is essential to support the people who live there. Conservation here is a cultural reality, a service to humanity that has gone unrecognized and uncompensated. This COP belongs to the people and must be about implementation.”

    Minister Murillo added, “This is why we insist on amplifying voices, resources, and environmental justice” and highlighted the establishment of the Multidonor Fund as “a significant step forward.”

    He explained that Colombia, Costa Rica, Ecuador, and Panama share ecosystems, making “this initiative of utmost importance,” and pointed out that “for many years, the Chocó Biogeographic region has been championed by naturalists, scientists, activists, social leaders, and the region’s ethnic communities.”

    Vice President and Equality Minister Francia Márquez emphasized that the fund is a step toward “ethnic justice” and proposed community participation in its governance: “Governance cannot be limited to the states; it must include community representation” to ensure transformative projects that contribute to conservation goals and local well-being.

    Costa Rica’s Foreign Minister praised the opportunity to join the launch of the Multidonor Fund for the Conservation and Restoration of the Chocó Biogeographic Region and other areas, stressing that “our collective efforts are far more effective when we work together towards ecosystem conservation and sustainable development.” He affirmed Costa Rica’s commitment to conservation.

    About the Multidonor Fund

    The Multidonor Fund will support conservation and restoration efforts, biodiversity and ecosystem preservation, climate change mitigation and adaptation, and sustainable development within the Chocó Biogeographic region and other interconnected ecoregions.

    The Chocó Biogeographic region is an expansive zone stretching from the Pacific coasts of Ecuador, Colombia, and Panama, extending into the Caribbean, hills, and mountain ranges that converge with Costa Rica’s neotropical forests. This ecological connectivity forms a bridge for biodiversity distribution and is renowned worldwide for its lush natural wealth and extraordinary diversity.

    However, the region faces significant threats: deforestation, illegal mining, wildlife trafficking, and social conflicts endanger the ecosystems and communities reliant on them. These challenges demand urgent, united action to protect this invaluable cultural and natural heritage, crucial for local populations and global ecological balance.

    Organized communities, including Afro-descendant and Indigenous peoples and local communities, are essential to the Chocó Biogeographic region’s cultural diversity. Their legacy of resilience and adaptation, along with their deep environmental knowledge, make them vital contributors to biodiversity conservation and sustainable development.

    To advance fund formulation, structuring, and implementation, the parties agree to invite CAF – Development Bank of Latin America and the Caribbean – to support these efforts.

    The Governments of Colombia, Costa Rica, Ecuador, and Panama call for collaboration, inviting international organizations, the private sector, specialized funds, philanthropic organizations, and other potential donors to join civil society in safeguarding the Chocó Biogeographic region as a stronghold of biodiversity and resilience against global environmental challenges. Let us form new alliances for biodiversity protection, climate justice, and sustainable development to ensure a prosperous and sustainable future together.

    MIL OSI Economics –

  • MIL-OSI Economics: The Americas Flyways Initiative to begin implementation in January 2025

    Source: CAF Development Bank of Latin America

    After two years of rigorous science-based design, the Americas Flyways Initiative (AFI) is moving into its implementation phase in 2025, aimed at protecting and restoring critical ecosystems through Nature-Based Solutions (NbS) and bird-friendly infrastructure that also benefits people.

    Inspired by the wonderful world of birds and their epic migratory journeys across the hemisphere, which connect landscapes, cultures, and people, the AFI science team has identified a portfolio of crucial sites to ensure the connectivity and conservation of at least 10% of prioritized populations of migratory shorebirds and landbirds in the Americas.

    Birds serve as vital bioindicators of the health of nature. They not only signal the problems we face but also point to solutions: where and how we need to act. Protecting birds means protecting life. For example, 85% of the important bird conservation sites in Colombia coincide with key areas for water regulation and climate change mitigation.

    Currently, AFI has five initial projects, also known as “nest projects,” named for their connection to shelter, development, and well-being:

    1. Improving coastal climate resilience in the Rocuant Andalién Wetland in Chile;
    2. Restoring montane forest landscapes and aquatic ecosystems in the northwestern Andes of Ecuador;
    3. Integrating bird-friendly practices in transmission and distribution power lines reaching the coast of Guayas, Ecuador;
    4. Incorporating bird-friendly architecture and design at the CAF headquarters in Panama City;
    5. Knowledge exchange on best practices at the Iona Wastewater Treatment Plant on Iona Island, British Columbia.

    To guide project developers in designing and implementing proposals that combine conservation and sustainable development, AFI has also released four practical and strategic guides:

    • Guide 1: High biodiversity and carbon-dense ecosystems.
    • Guide 2: Water security: drinking water, sanitation, and access to irrigation.
    • Guide 3: Coastal management.
    • Guide 4: Infrastructure.

    The relevance of AFI is grounded in the premise that conservation without funding is merely conversation. Without agile and sustainable financial resources, effective conservation, protection, and restoration of nature cannot be achieved. Currently, there is a financial gap of between $598 billion and $824 billion annually needed to implement actions addressing the climate crisis and biodiversity loss.

    One of the primary objectives of the sixteenth Conference of the Parties (COP 16) to the Convention on Biological Diversity (CBD), taking place in Cali, is to advance the details and mechanisms for meeting Target 19 of the Global Biodiversity Framework: achieving the annual mobilization of at least $200 billion by 2030. Of this amount, it is expected that at least $30 billion will be directed toward developing countries, which are often more severely affected by climate change impacts and wildlife decline.

    As of the date of this statement, eight governments have pledged $163 million to enable the Global Biodiversity Fund (GBFF) to implement the Kunming-Montreal Biodiversity Framework. While this is a step forward, it remains insufficient given the scale of what is required and the context we face.

    The protection and sustainable use of the services and resources we receive from nature are not solely the responsibility of the naturalist or scientific community. More than half of the world’s economy depends on the benefits provided by nature: clean water and air, fertile soils, food, medicine, raw materials, among others. More than half of the global GDP is moderately or highly dependent on nature and its services. Consequently, this figure is linked to the risks and impacts associated with the destruction of nature.

    Therefore, actions aimed at the conservation, restoration, and sustainable management of ecosystems and their biodiversity are an obligation and responsibility for all sectors, as they form the fundamental basis for our societies to continue existing and thriving. Fortunately, much of the answer to the challenge of channeling financing for biodiversity lies within nature itself.

    “Nature-Based Solutions (NbS) are actions to protect, sustainably manage, and restore natural and modified ecosystems that effectively and adaptively address societal challenges while simultaneously benefiting people and nature” (IUCN, 2016).

    In this context, at COP15 in Montreal, the National Audubon Society, BirdLife International, and the Development Bank of Latin America and the Caribbean (CAF) forged a commitment and the foundations of a strategic, transformative, and visionary alliance that will mobilize investment for nature and the communities that depend on it through a comprehensive financial mechanism.

    AFI is a symbiosis for prosperity that combines cutting-edge applied science and agile financial mechanisms to sustainably manage over 30 marine and terrestrial landscapes by 2050, mobilizing between $3 trillion and $5 trillion.

    Elizabeth Gray, CEO of Audubon, highlighted the importance of the initiative: “We are working together to protect 30 terrestrial and marine landscapes across this vast region. This is essential for promoting nature-based solutions and sustainable development. The Americas is one of the most biodiverse regions in the world, and we have much to do to address both the biodiversity and climate crises.”

    Martin Harper, CEO of BirdLife International, expressed gratitude and recognition to the teams from the three organizations for their hard work in reaching this point: “We are building something very special, something that will unite conservation efforts across the Americas. This initiative is already inspiring similar projects in other major migratory routes worldwide.”

    Sergio Díaz Granados, Executive President of CAF, reminded attendees of the bank’s efforts to become the green bank of the region, including increasing its capital to address the climate emergency: “The loss of biodiversity is one of our most urgent problems. Mitigating it and adapting is not a choice; it is a responsibility we must fulfill. We have been collaborating with institutions like Audubon and BirdLife to bridge conservation gaps in Latin America and the Caribbean.”

    MIL OSI Economics –

  • MIL-OSI China: Cai Xuzhe, returning to space 22 months after his first spaceflight

    Source: China State Council Information Office 2

    Cai Xuzhe has started his new space journey just 22 months after his first Shenzhou mission, breaking the record for the shortest interval between two spaceflights for a Chinese astronaut.
    Cai is the commander of the Shenzhou-19 mission, which was launched at 4:27 a.m. Wednesday from the Jiuquan Satellite Launch Center in northwest China.
    The crew members, also including first-timers Song Lingdong and Wang Haoze, will face new tasks and challenges during the mission, Cai told a press meeting on Tuesday ahead of the launch.
    He said they had collaborated with sci-tech workers to update training concepts and improve training methods and efficiency in order to meet the requirements of the new mission.
    Focusing particularly on the goal of achieving “zero error,” the trio will improve operation quality and enhance in-orbit emergency response capabilities, Cai noted.
    “We have been training as a team for more than a year, maintaining the best condition and the highest standards,” Cai said, adding that they are fully prepared and have the confidence, determination and ability to successfully complete this mission.
    Born in 1976 in the countryside of Shenzhou City, north China’s Hebei Province, Cai was fascinated with airplanes as a child. Every time he heard a plane flying past, he would rush outside and stare up at the sky as it flew away and disappeared.
    During his time in middle school, he idolized an air force commander and subscribed to the magazine China Air Force. Through its pages, he gained valuable knowledge about aviation and developed a keen appreciation for the art of piloting.
    Cai was admitted to an air force flight college in his final year at school.
    Upon graduation from college, he volunteered to work at an airport short of pilots. Despite the harsh conditions there, he dedicated himself to studying and training to sharpen his flying skills.
    In 2003, China’s first manned spaceflight, the Shenzhou-5 mission, was a resounding success. Sitting in front of the television, Cai was deeply attracted by the career of astronaut.
    As soon as he learned that the country was selecting the second batch of astronauts, Cai submitted application and was successfully recruited in May 2010.
    After arduous training and preparation for more than a decade, Cai had his moments. From June to December, 2022, he participated in the Shenzhou-14 space mission with colleagues Chen Dong and Liu Yang.
    During the extravehicular activities that lasted about five-and-half hours in November, 2022, they installed an out-of-cabin “bridge” that links the core module of the Tiangong space station with the Wentian and Mengtian labs. Cai completed the first cross-module spacewalk through the bridge.
    In his spare time in space, Cai was fond of overlooking at Earth through the porthole, especially when the space station flew over his hometown.
    In March 2023, the trio were awarded medals for their service to China’s space endeavors. Cai received a third-class medal and the honorary title of “Heroic Astronaut.”
    Back to Earth, the busy and fulfilling scenes of work and life in space were vivid in Cai’s memory, and he had been craving another journey to space.
    “I treat every spaceflight as my first one,” he said. 

    MIL OSI China News –

  • MIL-OSI China: Mainland urges Taiwan to return to 1992 Consensus

    Source: China State Council Information Office 2

    A mainland spokesperson on Wednesday urged authorities in Taiwan to return to the 1992 Consensus, describing this agreement reached by the two sides 32 years ago as the “anchor for peace and stability” in the region.
    Zhu Fenglian, a spokesperson for the State Council Taiwan Affairs Office, made the statement in response to recent remarks from officials of Taiwan’s mainland affairs council and the Straits Exchange Foundation denying the 1992 Consensus.
    She recounted how the mainland’s Association for Relations Across the Taiwan Straits and the Straits Exchange Foundation from Taiwan in 1992 reached the consensus, which was expressed orally but backed by written records, articulating the shared commitment to the one-China principle across the Strait.
    The 1992 Consensus clearly defines the nature of cross-Strait relations, which acknowledges that both the mainland and Taiwan belong to one China, and this relationship is neither state-to-state relations nor “one China, one Taiwan,” Zhu said.
    This has laid the political foundation for the development of cross-Strait relations, Zhu said, adding that it has enabled cross-Strait consultations and negotiations, facilitated exchanges between the political parties of the two sides, and institutionalized consultations and communication across the Strait.
    Any intentional misinterpretation of history, denial of the 1992 Consensus’ significance, or claims that portray it as outdated are unhelpful to improving cross-Strait relations, Zhu added. 

    MIL OSI China News –

  • MIL-OSI China: China to build a big-data center system for new materials

    Source: China State Council Information Office 2

    China released a plan on Wednesday for the establishment of a big-data center system for new materials, with a projected date of 2035 for completion and steady operation.
    The country aims to build a system consisting of one major platform and multiple data-resource nodes by 2027, according to the plan jointly released by three government authorities including the Ministry of Industry and Information Technology.
    The new-material big-data center is a new type of research and development infrastructure to promote the innovation and development of the new-materials industry.
    The plan details tasks for constructing the center, which include establishing the data circulation application system and optimizing the application ecology of new-material big-data technology. 

    MIL OSI China News –

  • MIL-OSI China: China activates emergency response as typhoon nears

    Source: China State Council Information Office 2

    China’s State Flood Control and Drought Relief Headquarters launched a Level-IV emergency response on Wednesday to flooding and typhoons in the coastal province of Zhejiang as Super Typhoon Kong-rey approaches.
    Kong-rey is forecast to bring torrential rain to parts of Fujian Province, Zhejiang Province, Shanghai and Jiangsu Province from Wednesday to Friday, with Zhejiang to be hit hard.
    The headquarters also maintained a Level-IV emergency response to flooding and typhoons in Hainan Province and Fujian Province.
    The Ministry of Emergency Management has deployed more than 4,100 rescuers. It also urged local authorities to take solid steps to brace for the super typhoon. 

    MIL OSI China News –

  • MIL-OSI China: China publishes world’s 1st standard for stem cell data

    Source: China State Council Information Office 2

    The world’s first international standard for stem cell data, ISO8472-1, has been officially released, the Institute of Zoology of the Chinese Academy of Sciences said Wednesday.
    This standard is expected to enhance global stem cell data management and make contributions to the advancement of stem cell research and applications, according to the institute.
    As biotechnology advances rapidly worldwide, stem cell data is proliferating. However, the lack of international standards for stem cell data has resulted in issues such as unregulated data management and low efficiency in data sharing and application.
    ISO8472-1, co-formulated by experts from China, Japan, the Republic of Korea, Germany, the United Kingdom, the United States, France, and other countries, stipulates a framework for the interoperability of stem cell data. It is applicable to related databases, data management systems, web interfaces, and more in the field of stem cell research.
    The release of ISO8472-1 will provide standard and guidance for data management in the field of stem cells and offer a systematic framework for the development of subsequent international standards for stem cell data, said Qiao Gexia, director of the Institute of Zoology. 

    MIL OSI China News –

  • MIL-OSI China: BYD reports rising revenue, net profit from Jan.-Sept.

    Source: China State Council Information Office

    Chinese auto company BYD registered increasing revenues and net profits in both the first nine months and the third quarter of this year, the company said on Wednesday.

    The Shenzhen-based company’s revenue for the January-September period was 502.25 billion yuan (about 70.35 billion U.S. dollars), up 18.9 percent year on year. Its net profit during the period increased 18.1 percent year on year to 25.24 billion yuan.

    In the third quarter, BYD’s revenue increased by about 24 percent and its net profit by 11.5 percent, the company said in its quarterly report.

    A leading producer of electric cars and hybrid vehicles, BYD’s auto sales surpassed 2.74 million units in the first three quarters, with its September sales hitting a monthly record of 419,400 units.

    The company said its exports of new energy passenger cars doubled to 298,000 units in the first nine months, and it has entered 96 countries and regions around the world.

    BYD is one of many NEV producers that have seen booming sales as China, which has the largest number of motor vehicles in the world, continues its transition toward greener technology.

    China’s NEV output between January and September was 8.3 million units, representing annual growth of 31.7 percent, according to the China Association of Automobile Manufacturers. 

    MIL OSI China News –

  • MIL-OSI China: Meta reports Q3 results with net income, revenue increase

    Source: China State Council Information Office

    U.S. social media giant Meta Platforms, Inc. on Wednesday reported financial results for the third quarter ending Sept. 30, with a total quarterly revenue of 40.59 billion U.S. dollars, a 19 percent increase year on year.

    The company’s quarterly net income increased to 15.69 billion dollars, up 35 percent from 11.58 billion dollars year on year. The diluted earnings per share for the quarter increased to 6.03 dollars from 4.39 dollars in the same period of 2023, said Meta, which is based in Menlo Park, California.

    The company’s family daily active people (DAP) was 3.29 billion on average for September 2024, an increase of 5 percent year over year.

    Its cash, cash equivalents and marketable securities were 70.90 billion dollars as of Sept. 30, 2024. Free cash flow was 15.52 billion dollars, according to the company.

    “We had a good quarter driven by AI progress across our apps and business,” said Mark Zuckerberg, Meta founder and CEO. “We also have strong momentum with Meta AI, Llama adoption, and AI-powered glasses.”

    The company expects fourth quarter 2024 total revenue to be in the range of 45 billion to 48 billion dollars, and the full-year 2024 total expenses to be in the range of 96 billion to 98 billion dollars, updated from its prior range of 96 billion to 99 billion dollars.

    Meta anticipates the full-year 2024 capital expenditures will be in the range of 38 billion to 40 billion dollars, and expects significant capital expenditures growth in 2025.

    According to Meta, the increasing legal and regulatory headwinds in the European Union and the United States could significantly impact its business and financial results, and the company will continue to monitor the active regulatory landscape. 

    MIL OSI China News –

  • MIL-OSI China: China’s pilot FTZs see double-digit trade growth in first three quarters

    Source: China State Council Information Office

    Foreign trade of China’s pilot free-trade zones (FTZs) expanded 11.99 percent year on year in the first three quarters of 2024, customs data showed Wednesday.

    Total imports and exports of these pilot FTZs reached 6.09 trillion yuan (about 853.1 billion U.S. dollars) during the first nine months, according to the General Administration of Customs.

    Exports rose 16.1 percent year on year to 2.74 trillion yuan, while imports climbed 8.83 percent year on year to 3.35 trillion yuan during the period, the data showed.

    China has built 22 pilot FTZs across the country. These pilot zones, regarded as pacesetters for the country’s high-standard reform and opening up, have contributed about 20 percent of foreign investment and import-export volume of the nation.

    China’s foreign trade, or total goods imports and exports, expanded 5.3 percent year on year in yuan terms in the first three quarters of this year, official data showed. 

    MIL OSI China News –

  • MIL-OSI China: China pledges to promote renewable energy use amid green transition

    Source: People’s Republic of China – State Council News

    BEIJING, Oct. 30 — China on Wednesday released a set of guidelines on boosting the use of renewable energy amid efforts to cut fossil fuel consumption in green energy transition.

    The guidelines, issued by the National Development and Reform Commission and five other government departments, outline China’s goal to replace traditional fuel with renewable energy.

    The guidelines note that China’s renewable energy consumption is expected to reach the equivalent of more than 1.1 billion tonnes of standard coal next year, and to exceed the equivalent of 1.5 billion tonnes of standard coal by 2030.

    The country aims to enhance its energy capacity to ensure the safe and reliable supply of renewable energy.

    More renewable energy will be used in industrial enterprises, transportation, buildings, agriculture, rural areas and infrastructure.

    MIL OSI China News –

  • MIL-OSI China: Autumn harvest in full swing in China

    Source: People’s Republic of China – State Council News

    Autumn harvest in full swing in China

    Updated: October 31, 2024 07:41 Xinhua
    A harvester works at a late rice field in Changqing Village, Daoxian County, central China’s Hunan Province, Oct. 30, 2024. [Photo/Xinhua]
    A drone photo taken on Oct. 30, 2024 shows farmers airing hawthorns in Zunhua City, north China’s Hebei Province. [Photo/Xinhua]
    An aerial drone photo taken on Oct. 30, 2024 shows farmers harvesting fresh ginger in Zhongjia Village, Zouping City of east China’s Shandong Province. [Photo/Xinhua]
    An aerial drone photo taken on Oct. 30, 2024 shows farmers harvesting rehmannia, a kind of herbal medicine, in Yuanshi County, north China’s Hebei Province. [Photo/Xinhua]
    An aerial drone photo taken on Oct. 30, 2024 shows a harvester working at a rice field in Xinbei District of Changzhou City, east China’s Jiangsu Province. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: Typhoon Trami leaves 7 dead, 1 missing in Hainan

    Source: China State Council Information Office 3

    Typhoon Trami has claimed seven lives and caused another missing in the southern Chinese island province of Hainan, according to the provincial emergency management authorities on Wednesday.

    Trami, the 20th typhoon this year, has brought heavy rainfall to many parts of Hainan since Oct. 28, forcing over 40,000 people to evacuate.

    Ministry of Water Resources on Wednesday issued a Level-IV emergency response to flooding due to the lingering impact of Typhoon Trami in Hainan. Qionghai, one of the worst-hit areas, has been on the highest level of emergency response for flood and wind control since late Tuesday.

    Affected by Typhoon Trami, most areas of Hainan will experience torrential rain on Wednesday, with a high risk of flash floods, and the Wanquan River may experience floods exceeding the warning level.

    The ministry has dispatched a working group to the front line to guide flood response, with the focus on evacuating people from high-risk areas.

    China has a four-tier emergency response system, with Level I being the most severe level.

    MIL OSI China News –

  • MIL-OSI China: Wang Haoze — female rocket engineer launched into space

    Source: China State Council Information Office 3

    Not all rocket engineers get to strap in and blast off into space, but Wang Haoze made this thrilling leap on Wednesday.

    Wang, who used to design system parameters for rocket engines, is carrying out the Shenzhou-19 spaceflight mission along with two other crew members, serving as the country’s first female space engineer in the process.

    The Shenzhou-19 spaceship, atop a Long March-2F carrier rocket, was launched at 4:27 a.m. (Beijing Time) from the Jiuquan Satellite Launch Center in northwest China.

    Born in 1990 in Luanping County, north China’s Hebei Province, Wang enrolled at Southeast University to major in thermal energy and power engineering, following her completion of the college entrance examination.

    After graduating with a master’s degree, Wang joined the Academy of Aerospace Propulsion Technology under the China Aerospace Science and Technology Corporation, and started her career by engaging in rocket engine research.

    She later signed up for the selection process to determine the country’s third batch of astronauts — and was finally selected as the only woman in this batch.

    After securing selection, Wang and her peers pushed the limits of both body and mind in the course of their training.

    During extravehicular activity drills, the astronauts donned spacesuits weighing over 100 kilograms, thereby simulating the challenging maneuvers required to exit a spacecraft. The suits were pressurized at 0.4 atm, and Wang found every movement a struggle. Inside the helmet, her head mobility was restricted and her visibility narrowed, forcing her to rely on a wrist mirror to see beyond this limited range.

    Inserting the connector of a hose bundle into two tiny sockets at the waist while in a bulky spacesuit was also no small feat for her. “My hands could barely reach the targets, and I couldn’t see well. With thick gloves, I lost the sense of touch, and after a few tries, my arms couldn’t gain any strength,” Wang recalled.

    Determined to improve, she requested additional practice with her instructor, and worked hard to meticulously refine her grip, mirror angle and body positioning. Gradually, she discovered the right technique, transforming the once daunting task into a smooth, fluid motion.

    Wang had her own style of self-motivation during training, writing a summary after each major training project as both a record of her experience and a confidence booster.

    “Ranging from scorching sunlight to chilling rain, I experienced the extreme temperature fluctuations of the desert, which could vary by tens of degrees Celsius. Yet, I also cherished romantic moments spent lying on umbrella fabric, watching the sparkling galaxy above,” she wrote after a 48-hour survival training exercise in the desert.

    In another summary, which focused on her maritime training, Wang noted, “The wind and waves created by the helicopter crashed against my body. Even with my back turned, I could feel the roaring wind pounding the back of my head, while the waves lashed against my ears.”

    In 2023, Wang was chosen to join the Shenzhou-19 crewed spaceflight mission, during which the crew is scheduled to undertake intensive tasks.

    Wang, the third Chinese woman to participate in a crewed spaceflight mission, is mainly responsible for space experiment projects and the management of materials and space station affairs.

    “From rocket engine designer to space engineer, my identity has changed, yet my unwavering commitment to serving my country through space exploration remains the same,” Wang concluded. 

    MIL OSI China News –

  • MIL-OSI China: A dream come true for Chinese astronaut Song Lingdong

    Source: China State Council Information Office 3

    Born into a rural family in Caoxian County in east China’s Shandong Province, Song Lingdong was captivated by space at the age of 13 when he watched the launch of Shenzhou-5 with his classmates.

    The excitement of that moment set his dream of space travel in motion. Now a 34-year-old, he is one of three crew members aboard the Shenzhou-19 spaceship, making him the youngest astronaut in the group. He is also the first male astronaut born in the 1990s to participate in China’s spaceflight missions.

    When it was time to apply for college, he chose to enroll as a cadet at a flight academy, the path that brought him closest to his dream of space. He later became a pilot in the People’s Liberation Army Air Force.

    In 2018, China’s selection of its third batch of astronauts reignited his dream of space travel. In September 2020, he officially joined the country’s new astronaut team.

    When Song joined the team, his performance was outstanding, but he was not selected for an important mission. Despite this setback, he became even more determined to intensify his training.

    During his training, he shifted his focus from seeking speed to prioritizing steady progress, resulting in consistent improvements in his training scores. He also slowed down and stabilized his pace in daily life, even learning to fish to cultivate a sense of patience.

    Having struggled with motion sickness since childhood, he experienced a strong physical reaction when he first began training on the rotating chair.

    “I’m going to train anyway, and do it with a smile and enjoy the ride,” he said to himself.

    Through self-talk, he continuously adjusted his mindset and completed the training, covering over a hundred subjects across eight major categories in just over two years.

    In 2023, after a comprehensive evaluation, he was successfully selected as a crew member of the Shenzhou-19 spaceflight mission.

    At a press conference on Tuesday, he discussed the crew’s training for the mission. “We were trained on the ground exactly as we will operate in space,” he said, noting that they had conducted multiple simulations for the spacewalk.

    “As an astronaut born in the 1990s, I feel deeply honored and proud to have the opportunity to serve my country and carry out the Shenzhou-19 mission. All of this is thanks to our great motherland, the efforts of generations of predecessors in the space industry, and most of all, this great new era,” he said. 

    MIL OSI China News –

  • MIL-OSI New Zealand: REMINDER: Raumati Rebuild Coming for State Highway 1

    Source: New Zealand Transport Agency

    Wellington drivers are reminded to be ready for upcoming roadworks on State Highway 1 on the Kāpiti Coast next week.

    The Raumati Straights on State Highway 1, north of Mackays Crossing, will undergo significant improvements from Sunday, 3 November, until early December.

    A road rebuild will be carried out on two kilometres of the left northbound lane, making this section of the highway smoother and safer.

    Road crews will be working at nights when traffic volumes are lower and to minimise disruption as much as possible.

    A single northbound lane will remain open at night, and southbound lanes will be open as usual.

    During the day, both northbound lanes will be open but under a temporary speed limit.

    The scope of the work involved means some traffic delays are likely. 

    Drivers are asked to obey the speed limits and traffic management in place. This protects the road work site, keeps drivers safe, and prevents vehicle damage.

    NZTA/Waka Kotahi and the Wellington Transport Alliance thank drivers for their patience and understanding while this essential state highway maintenance is completed.

    Works schedule and location:

    • Sunday, 3 November to Thursday, 6 December. Sunday to Thursday nights, 9 pm to 4:30 am (these works are weather-dependent, and schedules may change)
    • SH1 Raumati Straights between the Paekākāriki interchange and Raumati South
    • Northbound will be down to one lane at night under a temporary speed limit of 30 km/h
    • During the day, both northbound lanes will be open under a temporary speed limit of 50 km/h.
    • The southbound lanes will be open at all times
    • Traffic management will be set up from 8 pm, so drivers may experience delays from then. Two lanes will be open again by 5.30 am

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Making State Highway 2 tip top at Totara Park

    Source: New Zealand Transport Agency

    Wellington’s state highway summer maintenance programme will be coming to Upper Hutt next week, with road resurfacing and safety barrier repairs planned for the route.

    The work will require one southbound and two full closures of State Highway 2 Upper Hutt, weather permitting.

    Roxanne Hilliard, Wellington Alliance Manager, it is needed for road resurfacing and other maintenance works to be carried out on the highway from Silverstream to Totara Park Road between Wednesday, 6 November and Wednesday, 13 November.

    “This is a busy section of State Highway 2, which carries around 19,000 vehicles daily. It must be kept well maintained for road users.”

    Ms Hilliard says that in addition to resurfacing works, around six median barriers and traffic signal sensors between Whakatiki Street and Gibbons Street will be repaired on Sunday, 10 November. It will mean a longer detour for this night only.

    “Median barriers are essential for preventing head-on crashes, which are the leading cause of death on state highways. Keeping the barriers in good condition means they can do their job effectively and help protect drivers.”

    “The traffic signal sensor works will make traffic flows more efficient at the State Highway 2/Gibbons Street intersection,” Ms Hilliard says.

    Work will happen at night between 9 pm and 4.30 am. Scheduling works at night when there is less traffic on the road keeps disruption to a minimum. Traffic management will start at 8 pm, so drivers may experience delays while this is underway.

    Ms Hilliard says three separate local road detours will be available via Fergusson Drive.

    “They will take longer to travel, so drivers must allow extra time for their journeys.

    “This is especially important for people with escorted crossings booked for the State Highway 2 Remutaka Hill night closures. Please make sure you get there on time,” Ms Hilliard says.

    Works schedule and detour routes

    Road resurfacing – Silverstream to Whakatiki Street

    • Wednesday, 6 November, 9 pm – 4.30 am
    • SH2 CLOSED to southbound traffic between, Whakatiki Street and Fergusson Drive at Silverstream
    • Detour via Whakatiki Street and Fergusson Drive
    • Riverstone Terraces residents will need to detour via Whakatiki Street, Fergusson Drive, take the Silverstream exit to turn right back onto SH2 towards Riverstone Terraces.

    View larger image [PDF, 254 KB]

    Road resurfacing – Gibbons Street to Totara Park Road

    • Thursday, 7 November, Monday 11 November, Tuesday 12 November and Wednesday, 13 November, 9 pm – 4.30 am
    • SH2 CLOSED between Totara Park Drive and Gibbons Street
    • Detour via Gibbons, Fergusson Drive, and Totara Park Road

    View larger image [PDF, 234 KB]

    RRoad resurfacing, median barrier repairs and traffic signal repairs – Whakatiki Street to Totara Park Road

    • Sunday, 10 November only, 9 pm – 4.30 am
    • SH2 CLOSED between Whakatiki Street and Totara Park Road
    • Detour via Whakatiki Street, Fergusson Drive, and Totara Park Road

    View larger image [PDF, 240 KB]

    More information

    • Research shows median barriers virtually eliminate head-on crashes and reduce deaths and serious injuries from run-off-road crashes by around 40 to 50 percent.
    • Head-on crashes are the leading cause of death on state highways and account for approximately half of all deaths recorded. Safety barriers offer a second chance. They help reduce the chance of a simple mistake costing lives and destroying families.

    Useful links:

    State Highway Summer Maintenance information:

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Busy summer roadworks season for Tairāwhiti

    Source: New Zealand Transport Agency

    Safe, resilient, reliable state highways are the priority across Tairāwhiti, as the summer maintenance season ramps up in addition to cyclone recovery work.

    The 2024/25 summer maintenance season is now underway.

    During the course of the maintenance season, which typically runs from now until March when the weather is warmer and drier, it’s anticipated that approximately 11.8 lane kilometres* of state highway in the region will be renewed.

    Renewing the road involves removing the existing road surface and underlying structure and replacing it with new materials.

    NZ Transport Agency Waka Kotahi (NZTA) Regional Manager of Maintenance and Operations Rua Pani says this summer is set to be one of the biggest roadwork seasons the region has seen.

    “Summer, with its warmer, drier, calmer weather, is always a better time to renew and reseal roads.

    “This year, the annual renewals programme includes major road renewal work on both State Highway 2 and State Highway 35.

    “Renewing a road is the best way to boost the resilience and durability of a road. When we talk about renewing a road during the summer maintenance season, it’s not redesigning the road, rather it involves removing the existing road surface and underlying structure and renewing it with new materials.

    “Undertaking a higher number of road renewals is a key priority in the region. This is how we improve road conditions long-term,” says Ms Pani.

    NZTA crews will be working alongside Transport Rebuild East Coast (TREC) alliance crews who are currently carrying out other cyclone recovery work throughout the region, alongside local contractors.

    TREC project spokesman Richard Bayley says there’s a whole raft of activity underway, in addition to the summer maintenance programme.

    “Crews are continuing repair and recovery work on cyclone damaged sections of the highway – stabilising areas to help prevent slips,  restoring the Rotokautuku (Waiapu) Bridge and other bridges, and preparing to start larger projects such as replacing Hikuwai Bridge No.1.

    “Work to finish Connecting Tairāwhiti programme sites is also continuing – installing slow vehicle bays, laybys and other resilience work,” says Mr Bayley.

    “It’s a busy time of year for the region as a whole, with lots of different events planned.

    “We all like to get to our destination as quickly and safely as possible. We’re mindful that this work is going to be diusruptive for local communities, for road users and businesses.

    “It’s the support from the region’s communities since the cyclone which has helped us get to this point. We’re doing what we can to schedule work in a way that minimises delays. However, road users will notice longer travel at times, as a result of the summer works.

    “We’re strongly urging people to expect those delays and plan ahead.

    “Ultimately all this work will lead to more efficient travel and safer, more resilient roads,” says Mr Bayley.

    Connecting Tairāwhiti

    Some of the planned work

    State Highway 35

    • Seven road renewals are scheduled for SH35 until January, starting in Hicks Bay and working towards Mangatuna.
    • Resealing is also planned, with the majority of sites between Te Puia Springs and Gisborne.
    • On other parts of the highway, crews will be working on recovery projects designed to safeguard the road and bridges from erosion and repairing several underslips. Key areas include Awatere Gully, Rotokautuku Bridge, Jeru Straight, Makarika Valley, Kopuaroa Hill, Ihungia Road, and Whakaari Bluff.
    • Subject to consents and design, work on enabling works for Hikuwai Bridge No.1 is expected to start by early 2025. People may notice crews carrying out investigation works in the area and on the highway through the Mangahauini Gorge.

    State Highway 2

    • Two road renewals are scheduled on SH2 north of Gisborne. One near Matawai in mid-November and one near Waihuka in early-January.
    • Two road renewals are scheduled on SH2 south of Gisborne, one near Tarewa (starting late November) and the other near Bartletts Hill (mid-January).
    • Almost half of SH2 north of Gisborne will also be resealed this summer.
    • Drivers will see a lot of activity around the Otoko Hill area where TREC crews are working to upgrade drainage and culverts and strengthen and stabilise areas around the highway.

    The season’s work is funded through the State Highway Maintenance and Pothole Prevention activity classes in the 2024-27 National Land Transport Programme (NLTP).

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Urgent road repairs – State Highway 2 Mōrere

    Source: New Zealand Transport Agency

    |

    Roading crews will be on site at Mōrere on State Highway 2 from tomorrow (31 October) to renew and reseal a stretch of the highway.

    The work will take place over 3-4 days, with crews onsite between 6am and 6pm each day except Sunday. Sealing is expected to take place next Tuesday.

    Stop/go traffic management will be place between Maraenui Rd and Tunanui Rd and delays of up to 15 minutes should be expected.

    System Manager for Hawke’s Bay / Tairāwhiti Martin Colditz says the work we’re about to do will make the road safer and more efficient for all road users.

    “The work involves removing the underlying road structure and rebuilding the road surface which will make the road safer and more efficient for all road users.”

    “Drivers should plan their journeys accordingly and expect these delays over the coming days. We want to thank everyone for their patience and support.”

    The work is weather dependent.

    Current road condition of Mōrere on State Highway 2.

    Tags

    MIL OSI New Zealand News –

  • MIL-OSI Australia: $250 million New Griffith Base Hospital on track for completion in 2025

    Source: New South Wales Ministerial News

    Published: 31 October 2024

    Released by: Minister for Health, Minister for Regional Health

    Western Riverina communities will soon benefit from new and expanded healthcare facilities with the new Clinical Services Building a key component of the $250 million Griffith Base Hospital Redevelopment nearing completion.

    Minister for Regional Health Ryan Park and the Member for Murray Helen Dalton today toured the new hospital’s state-of-the-art Clinical Services Building, which will provide contemporary, high-quality healthcare under the one roof.

    The new Clinical Services Building is on track for completion in the coming months. This will be followed by an operational commissioning period before health services are safely transferred from the current hospital to the new facility. It is expected to open in early 2025.

    The new hospital will include:

    • An expanded Emergency Department
    • Two operating theatres, and an additional procedure room in the perioperative suite
    • A new and expanded ICU
    • Expanded medical imaging services and pharmacy services
    • Maternity and birthing and paediatric services
    • Surgical and medical wards with four new mental health inpatient beds to care for people over 16 years of age with low complexity mental health conditions who require a short stay admission
    • New aged care and rehabilitation beds
    • Three palliative care rooms, a family lounge and an outdoor terrace within the medical inpatient unit to provide end of life care for patients
    • An expansion of ambulatory care space for the community to access more specialist clinics including renal, oncology, hospital in the home, and expanded outpatient services.

    The new three storey Clinical Services Building is located behind the existing hospital and when it opens, it will be accessible through the existing main entry until the new main entry is completed. Health services are continuing to operate during construction.

    Once the new hospital opens, work will focus on carpark construction, refurbishment of the Ambulatory Care Hub and landscaping of the health campus.

    For more information about the Griffith Base Hospital redevelopment visit: https://gbhredevelopment.health.nsw.gov.au

    Quotes attributable to Regional Health Minister Ryan Park:

    “When complete, the purpose-built Clinical Services Building will house all major health services under the one roof, significantly transforming patient, carer and staff experience.

    “Griffith and surrounding communities will benefit from a bigger Emergency Department, Intensive Care Unit and an additional procedure room in the operating suite at the new Hospital.

    “An expanded medical imaging department will also deliver improved radiology services with a new CT and nuclear medicine service in purpose build and designed spaces.

    “The Minns Labor Government is committed to improving healthcare in rural and regional communities.”

    Quotes attributable to Member for Murray Helen Dalton:

    “The Griffith Base Hospital Redevelopment will support contemporary models of care and improve healthcare experiences for our community.

    “I’m glad this new hospital has been designed in close collaboration with staff and clinicians and includes inpatient rooms with ensuites, a new café and landscaped community courtyards and gardens.

    “Projects like this one not only support the health and wellbeing of our community, but also deliver direct and indirect jobs in health, construction and related industries.”

    MIL OSI News –

  • MIL-OSI Australia: New board members appointed to Independent Liquor and Gaming Authority

    Source: New South Wales Ministerial News

    Published: 31 October 2024

    Released by: Minister for Gaming and Racing

    The NSW Government has made appointments to the board of the Independent Liquor and Gaming Authority (ILGA), including a deputy chairperson and two new members.

    Associate Professor Amelia Thorpe and Nicholas Nichles have been appointed following a rigorous public expression of interest selection process. Additionally, existing member Chris Honey has been appointed deputy chairperson.

    ILGA is a statutory decision-maker responsible for a range of liquor, registered club, and gaming machine regulatory functions including determining licensing and disciplinary matters.

    The appointments follow the end of the term of appointment for outgoing deputy chairperson Sarah Dinning, and also fill vacancies that existed on the board.

    Mr Honey, who was appointed a member of ILGA earlier in 2024, has been named deputy chairperson until the end of his current appointment term (11 February 2027). Mr Honey has extensive experience in the advisory and restructuring field, including working extensively in highly regulated sectors.

    Associate Professor Thorpe and Mr Nichles have both been appointed for four years commencing 6 November 2024.

    Associate Prof Thorpe is with the Faculty of Law & Justice at the University of New South Wales and an Acting Commissioner of the NSW Land and Environment Court.

    Mr Nichles was previously a Consul General and Senior Trade and Investment Commissioner for Australian Government agency Austrade, based in the US.

    The new appointments bring the ILGA board membership to seven.

    The new appointments will join chairperson Caroline Lamb, new deputy chairperson Mr Honey and current members Cathie Armour, Jeffrey Loy APM and Dr Suzanne Craig.

    For more information about ILGA, visit: https://www.ilga.nsw.gov.au/

    Minister for Gaming and Racing David Harris said:

    “I would like to thank Sarah Dinning for her contribution to the Independent Liquor and Gaming Authority, including during her service as deputy chairperson.

    “ILGA has an important role to play as the administrative decision-making authority for liquor, registered club and gaming machine licensing decisions in NSW.

    “An exhaustive selection process was undertaken for these new appointments in accordance with legislative requirements and including the engagement of an independent probity advisor.

    “Chris Honey has brought significant expertise to the board since his appointment and Amelia Thorpe and Nicholas Nichles will bring their substantial experience, expertise and leadership to ILGA.”

    ILGA chairperson Caroline Lamb said:

    “Mr Honey joined the ILGA board earlier this year and has proven himself to be an invaluable board member with his energy and considerable skills and experience in the advisory and restructuring field.

    “The ILGA board also welcomes A/Prof Thorpe and Mr Nichles to the board.

    “People appointed to the ILGA board must be of the highest integrity and promote fair, transparent and efficient decision-making.”

    MIL OSI News –

  • MIL-OSI Australia: Western Sydney suburbs pass $1 million in NSW Government toll relief

    Source: New South Wales Ministerial News

    Published: 31 October 2024

    Released by: The Premier, Minister for Customer Service and Digital Government, Minister for Roads

    Motorists in the Western Sydney suburbs of Blacktown and Baulkham Hills have collectively claimed more than $1 million in toll relief for each suburb under the Minns Labor Government’s $60 weekly toll cap.

    Blacktown last week became the first suburb to pass $1 million in total toll relief claimed, followed by Baulkham Hills this week.

    Other car-reliant suburbs like Auburn, Merrylands and Marsden Park are now closing in on the same milestone for toll relief.

    More than 3,000 motorists in both Blacktown and Baulkham Hills have claimed toll relief so far – evidence that Labor’s $60 weekly toll cap is getting relief to where it is needed in the most heavily-tolled areas of Sydney.

    More than 224,000 claims have been made, with $60.5 million already returned to motorists. The average rebate is $284.

    More than 11,000 motorists have received quarterly toll relief rebates of more than $1,000 since the program started.

    Tolling data shows it is the motorways that get people in and out of Western Sydney that are most commonly used by those claiming toll relief. They are:

    • WestConnex
    • M2 Hills Motorway
    • Westlink M7

    Data shows motorists claiming toll relief are generally hitting the $60 toll cap by midweek, with journeys on Fridays, Saturdays and Sundays the most common days on which toll journeys are refunded.

    There is $60 million in relief available to be claimed for trips made in the third quarter of the year between 1 July 2024 – 29 September 2024.

    Toll relief is supporting motorists as the NSW Labor Government works on tolling reform to fix the damage wrought by the toll road privatisation of the former government.

    The Liberal Party legacy left a total toll bill of $195 billion in nominal terms that must be paid by motorists out to 2060, on top of the billions they have already paid.

    The NSW Government is currently preparing its response to the independent Toll Review of Professor Allan Fels and Dr David Cousins, which described Sydney’s toll road network as an unfair and poorly-functioning patchwork of numerous different price structures, with those in Western Sydney financially impacted the most.

    Eligible drivers who have spent more than $60 a week on toll trips since 1 January can claim the toll relief via the Service NSW website with the rebate calculated and claimed each quarter.

    Once your toll account details are linked to your MyServiceNSW Account, claims can easily be lodged.

    Motorists can claim up to a maximum of $340 per week for each tag or licence plate number, as part of a “fair use” provision in place to ensure the program’s integrity.

    People can claim their 2024 toll spend until 30 June 2025.  

    To claim, visit www.service.nsw.gov.au/transaction/claim-the-toll-relief-cap and follow the step-by-step instructions including linking your toll account to your MyServiceNSW Account.

    New South Wales Premier Chris Minns said:

    “The $60 toll cap is one of the most important cost-of-living measures the NSW Government is providing, and it is heartening to see that the relief is getting to where it is needed most – Western Sydney.

    “We know people are doing it tough, and our toll cap is making it fairer for drivers that heavily rely on toll roads.

    “Suburbs like Blacktown, like Baulkham Hills, are the places where paying tolls is really not a choice, it’s a fact of life.

    “Motorists have so far claimed more than $1 million in toll refunds in each of these suburbs and we know every dollar is important in stretched family budgets.”

    Minister for Roads John Graham said:

    “The data tells us that it is the people whose journeys start and end in Western Sydney that are claiming the lion’s share of toll relief, and this is where it is needed most. These suburbs have fewer public transport alternatives.

    “Toll relief is rolling out as we progress with toll reform. The current system is a poorly-functioning patchwork of numerous different price structures that has created complexity, inefficiency, inequities and unfairness, with those in Western Sydney financially impacted the most.

    Minister for Customer Service and Digital Government Jihad Dib said:

    “It’s good to see eligible motorists saving an average of $284 per quarter which is a massive boost for household budgets and could make the Christmas bills that little bit more manageable.

    “We encourage motorists to apply, the online claims process is easy to use and support is available in Service NSW Centres or by calling 13 77 88.

    “I encourage everyone to check their eligibility via the Service NSW website and to make a claim.”

    MIL OSI News –