Category: Natural Disasters

MIL-OSI Global: Inflation is heating up again, putting pressure on Trump to cool it on tariffs

Source: The Conversation – USA – By Jason Reed, Associate Teaching Professor of Finance, University of Notre Dame

Inflation is building again; but the housing industry may find it harder to do so as a result of Trump tariffs. Win McNamee/Getty Images

Inflation figures released on Feb. 12, 2025, will come as a disappointment to Americans who hoped President Donald Trump would be true to his word on bringing down prices “on Day One.” It will also put pressure on the new administration to be wary of policies that may heat up inflation – and that includes tariffs.

The consumer price index, which measures the change in prices paid by consumers for a representative basket of goods and services, rose unexpectedly from December to January by 0.5%. It means consumers are paying around 3% more on item prices than they were a year ago.

Economists had been expecting the pace of inflation to slow in January.

The news isn’t good for anyone concerned. It means inflation remains above the Federal Reserve’s long-run target of 2% – making it harder for the central bank to cut rates at its next meeting on March 19. At its last meeting, the rate-setting Federal Open Market Committee kept its benchmark federal funds rate unchanged at a range of 4.25-4.50%.

Following the release of the latest inflation data, markets have a stronger conviction that the Fed will again hold rates steady when it meets in March.

It also means more pain for consumers. Higher interest rates set by the Fed play a large role in determining rates for mortgages, credit cards and auto loans. If January’s rate of inflation were to continue throughout 2025, consumers would see a painful 6.2% annualized inflation rate.

And although it would be churlish to link the latest jump in inflation to an administration just weeks old, it does put into focus the current slate of Trump economic policies. Economists have long warned that imposing tariffs on imports and cutting taxes does little to curb inflation – rather, they may contribute to faster price increases.

Already, China has been hit by a 10% tariff on all products. Trump has also proposed a 25% tariff on all steel and aluminum imports, and he mulled imposing new tariffs on Canada and Mexico – two of the United States’ largest trading partners.

I believe that if these wide-ranging tariffs come into effect, the Federal Reserve will have no choice but to keep rates elevated for the remainder of 2025.

Revving up for higher car costs

One of the largest drivers of inflation in January was rent increases, which accounted for nearly 30% of all items increase. Rents jumped 4.6% from a year earlier.

If Trump’s tariffs on Canadian imports, like lumber, take effect, Americans can expect continued price increases in the homebuilding sector. Supply and demand imbalances remain a key driver for higher prices, so fewer houses being built due to higher materials cost will likely lead to higher rents.

Consumers saw better news on new vehicle prices, which remained flat over the month and showed slight declines from a year ago.

This is even as demand for new cars increased 2.5% over 2024. In January 2025, the number of new vehicles sold topped the same month a year earlier for the fifth month in a row.

But as with homebuilding, any tariffs on the import of car parts or materials will impact the auto industry. Carmakers may have breathed an immediate breath of relief when Trump delayed new tariffs on Canada and Mexico. But if deals aren’t reached by the March 1 deadline, industry analysts expect immediate impacts on top sellers.

And any higher cost of new cars will have a knock-on effect on used cars, which saw prices jump 2.2% in January – it’s largest increase since May 2023.

Increased prices are no yoke! (groan)

Of course, not all inflationary pressures are in the purview of government.

The transportation sector, which includes insurance and parking fees, increased by 8% over the year. Insurance prices soared almost 12%, on the back of last year’s 20.6% increase in prices, while parking fees increased by almost 5% as a result of more expensive repairs and more dangerous driving behaviors.

Meanwhile, with bird flu continuing to spread, egg prices rose a shocking 15.2% in January, and are 53% more expensive than at this time last year.

All in all, voters who cited inflation as the main reason they were backing Trump may be feeling a little uneasy – the administration is only a few weeks old, but for one reason or other, Americans are experiencing ever higher prices with little relief in sight.

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

– ref. Inflation is heating up again, putting pressure on Trump to cool it on tariffs – https://theconversation.com/inflation-is-heating-up-again-putting-pressure-on-trump-to-cool-it-on-tariffs-249815

MIL OSI – Global Reports –

February 13, 2025
MIL-OSI Security: New Hampshire Registered Sex Offender Sentenced for Attempting to Purchase a Gun in Maine

Source: Office of United States Attorneys

Brandon Pinard checked “No” on ATF form to having a felony conviction despite 2013 conviction in Massachusetts

PORTLAND, Maine: A New Hampshire man was sentenced today in U.S. District Court in Portland for making false statements to acquire a firearm.

Chief U.S. District Judge Lance E. Walker sentenced Brandon Pinard, 33, to time served, approximately 9 months, followed by three years of supervised release. Pinard pleaded guilty on November 19, 2024.

According to court records, in May 2024, the Seabrook (N.H.) Police Department received a firearms denial notice showing that Pinard was denied a purchase of a long gun in Bath, Maine. When attempting to purchase the Daniel Defense DDM4 assault rifle, Pinard listed a Dover, N.H. address and checked “No” next to the question on the ATF Form 4473 that read, “Have you ever been convicted in any court, including a military court, of a felony, or any other crime for which the judge could imprison you for more than one year, or are you a current member of the military who has been charged with violations(s) of the Uniform Code of Military Justice and whose charge(s) have been referred to a general court-martial?” At the time of the attempted purchase, Pinard was prohibited from possessing firearms due to a 2013 conviction in Massachusetts for a felony sex offense. He had been a registered sex offender in Seabrook since relocating from Dover in November 2022.

The Bureau of Alcohol, Tobacco, Firearms and Explosives investigated the case with assistance from the Seabrook (N.H.) Police Department.

###

MIL Security OSI –

February 13, 2025
MIL-OSI Security: Wisconsin Rapids Man Sentenced to 9 Years for Methamphetamine Trafficking and Illegally Possessing Firearms

Source: Office of United States Attorneys

MADISON, WIS. – Timothy M. O’Shea, United States Attorney for the Western District of Wisconsin, announced that Bradly Rosenthal, 42, Wisconsin Rapids, Wisconsin, pleaded guilty and was sentenced today by U.S. District Judge William M. Conley to nine years in federal prison for possessing methamphetamine intended for distribution and possessing two loaded firearms as a felon.

Rosenthal sold methamphetamine to a confidential informant three times in February 2024. On March 13, 2024, law enforcement received a report of suspected drug activity at a car wash located in Nekoosa, Wisconsin. Officers responded to the car wash where they encountered Rosenthal. After a K9 alerted to the presence of illicit substances, law enforcement searched Rosenthal’s vehicle and found 266 grams of methamphetamine, two loaded firearms, a Taser, $2,000, and drug distribution paraphernalia. Rosenthal is prohibited from legally possessing firearms because of a prior felony conviction.

At sentencing, Judge Conley expressed concern at Rosenthal’s “repeated serious crimes,” which include prior drug trafficking and firearms offenses, and his continued “endangerment of others.”

The charges against Rosenthal were the result of an investigation conducted by the FBI Central Wisconsin Drug Task Force and the Wisconsin Rapids and Nekoosa Police Departments. The ATF Madison Crime Gun Task Force also assisted with the case. The ATF Madison Crime Gun Task Force consists of federal agents from ATF and Task Force Officers (TFOs) from local agencies including the Dane County and Clark County Sheriff’s Offices and the Fitchburg, Madison, Sun Prairie, and La Crosse Police Departments. Assistant U.S. Attorneys Jennifer Remington and Megan Stelljes prosecuted this case.

This case has been brought as part of Project Safe Neighborhoods (PSN), the U.S. Justice Department’s program to reduce violent crime. The PSN approach emphasizes coordination between state and federal prosecutors and all levels of law enforcement to address gun crime, especially felons illegally possessing firearms and ammunition and violent and drug crimes that involve the use of firearms.

MIL Security OSI –

February 13, 2025
MIL-OSI Australia: Cousins reunite in Grampians fire fight

Source: Victoria Country Fire Authority

Terence Dwyer and Stephen Walls

It was a bittersweet reunion for two firefighter cousins who crossed paths while battling the Western Victoria fires, with one lending a hand from ACT and the other a local to the region.

Recently retired CFA Assistant Chief Fire Officer from Grampians region, Stephen Walls stepped into a familiar role as the night Deputy Incident Controller at the Horsham Incident Control Centre on 6 February while ACT Rural Fire Service firefighter and cousin Terence Dwyer was on the fireground finishing his final shift for the week.

Having had experience in a level three control role for over 20 years and as a current volunteer firefighter with Newstead Fire Brigade, Stephen was happy to offer his support and expertise in an area he was well accustomed to.

“When my first night shift started, the Little Desert fire was making a bit of a run to the east on the northern border and ran around 6km in an hour which required a few hours of work and back burning overnight to round that up to reduce the risk to the community,” Stephen said.

“The night shift Incident Management Team (IMT) that I was part of was managing the fire overnight and preparing the shift plans for the following day. A big part of this is trying to allocate resources appropriately for the day and debriefing with day shift crews returning in.

“We had interstate crews in a base camp in Horsham and some FFMVic crews in Halls Gap, so we were trying to manage the deployments to make sure people didn’t have to travel large distances, given one side of the fire to the other was the best part of two hours.”

Although a fleeting exchange, it was the first time Stephen and Terence had worked on the same fire together.

“Our grandmother’s family comes from Gymbowen in the Wimmera, immediately south of the Little Desert fire, and was somewhat under threat when it was a making a run,” Stephen said.

“We crossed paths at the base camp on my first night, just as he was returning from the fire edge, so it wasn’t really a social catch up, but more a debrief,” Stephen said.

“I waved him and the other interstate firefighters from ACT and NSW off in the morning from Horsham.

“Terence visits the area more regularly than I do with his family, but we’ve still got many family and friends down that way, so it was nice to reconnect there, albeit the circumstances.”

As a local tradesman and volunteer for 23 years in ACT with a specialty in remote firefighting, Terence was pleased he saw Stephen while assisting an area that means a lot to their family.

“I messaged Stephen to let him know I was heading down there, as he is great at making an effort when he in my neck of the woods, and he just happened to say he was too,” Terence said.

“I really enjoyed the deployment down to the Grampians, we were very well looked after at the base camp.

“We were in a strike team of five Ultra Light tankers and worked predominantly along the Western edge of the Grampians, patrolling, mopping up and dealing with some spot overs.

“It was very interesting to work in different types of country and we enjoyed chatting to other crews on the fireground from different parts of the region and worked well with crews from South Australia forestry.

“It was nice to see the improvement in the fire while we were there, as the Wimmera dealt with some difficult weather conditions both through the high temperatures and some bad storms.”

Submitted by CFA media

MIL OSI News –

February 13, 2025
MIL-OSI: Partners Value Investments Inc. Announces Normal Course Issuer Bids

Source: GlobeNewswire (MIL-OSI)

TORONTO, Feb. 12, 2025 (GLOBE NEWSWIRE) — Partners Value Investments Inc. (the “Corporation”) (TSXV: PVF.WT. PVF.PR.V), a subsidiary of Partners Value Investments L.P. announced today that it has received approval from the TSX Venture Exchange (the “Exchange”) for normal course issuer bids (the “Bids”) to purchase up to 1,396,407 of its share purchase warrants (the “Warrants”), representing approximately 5% of its currently outstanding Warrants; and to purchase up to 3,533,558 of its Class A preferred shares, series 1 (the “Preferred Shares”), representing approximately 5% of its currently outstanding Preferred Shares. The Bids will be effective from February 14, 2025 to February 13, 2026, or such earlier date that the Corporation completes its purchases.

Purchases by the Corporation pursuant to the Bids will be made by its designated broker, RBC Capital Markets, through the facilities of the Exchange, other designated exchanges and alternative trading systems in Canada. The price which the Corporation will pay for any Warrants or Preferred Shares purchased will be the market price of the Warrants and Preferred Shares at the time of acquisition. Any Warrants and Preferred Shares acquired through the Bids will be cancelled. As of January 31, 2025, there were 27,928,149 Warrants and 70,671,137 Preferred Shares outstanding.

The Corporation believes that, from time to time, the market price of the Warrants and Preferred Shares may not adequately reflect their value. In such circumstances, the Corporation believes that its outstanding Warrants and Preferred Shares may represent an appropriate and desirable use of its available funds.

In connection with the Bids, the Corporation will enter into an automatic purchase plan with its designated broker on February 13, 2025. The automatic purchase plan will allow for the purchase of Warrants and Preferred Shares when the Corporation would not ordinarily be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Outside of these periods, Warrants and Preferred Shares will be repurchased in accordance with management’s discretion and in compliance with applicable law.

For further information, contact Investor Relations at ir@pvii.ca or 416‐643-7621.

Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian securities regulations. Expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking information and forward-looking statements.

Although the Corporation believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Corporation to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation and Brookfield Asset Management Ltd., the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws, catastrophic events, such as earthquakes, hurricanes, or pandemics/epidemics; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Partnership’s documents filed with the securities regulators in Canada.

The Corporation cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Corporation’s forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Corporation undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.

The MIL Network –

February 13, 2025
MIL-OSI New Zealand: Fire and Emergency New Zealand deploys aviation specialist to Tasmanian fires

Source: Fire and Emergency New Zealand

Fire and Emergency New Zealand has sent a wildfire aviation specialist to Australia to run the aerial attack on several large bushfires in the north west of Tasmania.

Fire and Emergency Deputy National Commander Ken Cooper says the Tasmanian Fire Service and the Tasmanian Parks and Wildlife Service have been managing a number of significant vegetation fires sparked by dry lightning strikes since 3 February.

“The fires are in challenging terrain and the Tasmanians have been mostly managing the fires with aircraft while ground crews battle the fires accessible by road,” he says.

It is expected the current significant fires will continue to burn uncontained for several weeks, causing ongoing resourcing and fatigue management pressures.

Our specialist arrived in Tasmania on Wednesday and has relieved the Tasmanian Air Operations Manager. They will be providing the overall coordination of aerial operations across the fires over the next two weeks.

“Our thoughts are with our neighbours in Tasmania, and we are happy to answer the call for help,” Ken Cooper says.

Fire and Emergency supports other countries in their time of need. Alongside predecessor organisations, we have been deploying personnel internationally to wildfire emergencies for more than 20 years.

This deployment is Fire and Emergency’s 75th international wildfire deployment since 2000. There have been 1544 firefighters deployed during this time. Note: this number does not include non-wildfire deployments, such as for natural disasters.

“When Fire and Emergency receives a request for firefighting assistance, we firstly consider the fire conditions in Aotearoa before we decide if we can support our international colleagues,” Ken Cooper says.

“These international deployments are not only beneficial for the countries that receive help, but also to our people. They gain valuable experience and skills in dealing with large scale and complex wildfires, which can be different from the types of fires they usually encounter back home.”

MIL OSI New Zealand News –

February 13, 2025
MIL-OSI Security: Hunting Outfitter Pays $500,000 to Resolve Allegations Related to the Cow Creek Fire in Ouray County, Colorado

Source: Office of United States Attorneys

DENVER—The United States Attorney’s Office for the District of Colorado announced today that Jackson Outfitters, LLC, a hunting outfitter based in Placerville, Colorado, has agreed to pay $500,000 to resolve allegations that it is liable for the ignition of a wildland fire, which became known as the Cow Creek Fire and which burned 850 acres on the Uncompahgre National Forest in Ouray County, Colorado, in October 2019.

The United States alleges that the Cow Creek Fire was caused by a wood-burning stove located inside a wall tent in the Green Mountain Camp, which is owned and operated by Cow Creek Outfitters, an affiliate of Jackson Outfitters. At the time of the incident, the Green Mountain Camp was occupied by a party that had booked a self-guided elk hunt through Cow Creek Outfitters. Jackson Outfitters operates its business in the National Forest under a Special Use Permit, which states that Jackson Outfitters has an affirmative duty to protect the land, property, and other interests of the United States—including fire suppression costs—from damage.

The United States alleges that the Cow Creek Fire started at Green Mountain Camp when embers and other ignited material exited a stovepipe attached to the wood-burning stove and landed on the ground, igniting dry vegetation. The Cow Creek fire ultimately burned approximately 850 acres of National Forest System lands. The United States incurred significant suppression costs fighting the fire. The United States alleges that by not ensuring that the wood-burning stove was equipped with a functional, properly-installed spark arrestor, Jackson Outfitters breached its duty to ensure that its activities did not result in an escaped fire.

“Outfitters must ensure that the equipment they use in National Forests is safe and protects public lands for all of us,” said Acting U.S. Attorney J. Bishop Grewell. “We appreciate that this resolution was cooperative and reimburses the United States for costs incurred in fighting the fire.”

The claims against Jackson Outfitters are allegations, and in agreeing to settle this matter, the company did not admit to any liability.

This matter was investigated by U.S. Forest Service Law Enforcement and Investigations and was handled by Assistant United States Attorney Katherine Ross.

MIL Security OSI –

February 13, 2025
MIL-OSI USA: Padilla Leads Effort Demanding Trump Reverse Illegal Firing of Independent FEC Chair

US Senate News:

Source: United States Senator Alex Padilla (D-Calif.)

Padilla Leads Effort Demanding Trump Reverse Illegal Firing of Independent FEC Chair

WASHINGTON, D.C. — Today, U.S. Senator Alex Padilla (D-Calif.), Ranking Member of the Senate Committee on Rules and Administration with oversight over federal elections, led 10 Democratic Senators to demand President Trump rescind his unprecedented and illegal firing of Federal Election Commission (FEC) Chair Ellen Weintraub. The Senators also urged Trump to pursue the lawful process of consulting with the Senate on nominating a replacement for both Weintraub and former Republican Commissioner Sean Cooksey, who recently resigned for a role in the Trump Administration, and future vacancies.

The FEC is an independent, bipartisan agency tasked with enforcing U.S. campaign finance laws. In the 50 years since it was created — in the wake of the Watergate scandal — a commissioner has never been fired by the President. Typical procedure, as outlined in the Federal Election Campaign Act, is to have a Commissioner depart upon confirmation of their replacement. The illegal, unprecedented firing of Chair Weintraub took effect immediately following receipt of the letter on February 6.

“Chair Weintraub must be able continue to serve in her role unless and until you use the lawful process of nominating a commissioner for the Senate’s consideration and that nominee is confirmed,” wrote the Senators. “Your letter seeking to remove a commissioner ignores the legal requirements that commissioners may not be removed without cause. This effort violates the procedure set in statute for replacing commissioners in the Federal Election Campaign Act and appears to be a bad faith effort to dismantle the only federal agency that protects the American people’s right to transparency in campaigns and elections.”

“Record spending in our elections, including from ultra-wealthy individuals who now serve at the highest levels of power, has placed the FEC’s responsibilities at the heart of maintaining a healthy democracy,” continued the Senators. “While years of deadlock at the Commission have hindered its ability to serve as an effective regulator, removing commissioners without cause moves beyond dysfunction to outright destruction.”

In addition to Senator Padilla, the letter was signed by Senators Amy Klobuchar (D-Minn.), Jeff Merkley (D-Ore.), Jack Reed (D-R.I.), Bernie Sanders (I-Vt.), Adam Schiff (D-Calif.), Chris Van Hollen (D-Md.), Elizabeth Warren (D-Mass.), Peter Welch (D-Vt.), Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.).

Last week, Senator Padilla rebuked President Trump’s illegal attempt to fire Chair Weintraub.

Full text of the letter is available here and below:

Dear President Trump:

We write to strongly urge you to rescind your illegal attempt to remove Chair Ellen Weintraub from the Federal Election Commission (FEC), the independent and bipartisan agency charged with enforcing our campaign finance laws. Chair Weintraub must be able continue to serve in her role unless and until you use the lawful process of nominating a commissioner for the Senate’s consideration and that nominee is confirmed.

Your letter seeking to remove a commissioner ignores the legal requirements that commissioners may not be removed without cause. This effort violates the procedure set in statute for replacing commissioners in the Federal Election Campaign Act and appears to be a bad faith effort to dismantle the only federal agency that protects the American people’s right to transparency in campaigns and elections.

Removing an FEC commissioner without nominating a replacement is without precedent. With Republican Commissioner Sean Cooksey’s recent resignation to join your administration, regular order would be to consult with the Senate on a bipartisan basis and nominate a pair of Republican and Democratic commissioners for the Senate’s consideration. Unlawfully removing a commissioner with an existing vacancy, without consultation with the Senate on nominations to replace them, demonstrates an intent to ignore the Senate’s constitutional role and diminish the Commission’s ability to hold accountable potential violations of campaign finance law.

Chair Weintraub, a Democratic commissioner, has a strong record of seeking to enforce the law that regulates money in politics on a nonpartisan basis, including holding presidential campaigns accountable. Congress created the FEC over 50 years ago, in the wake of the Watergate scandal that eroded trust in our government. The FEC was designed to be free from the interference of those it might be regulating and to ensure the American people had insight into how money was being spent to influence its elected officials. The role of money in our elections has changed since the FEC was first created, particularly as the Supreme Court has issued decisions permitting dark money to infiltrate our elections. However, the need for balanced and dedicated commissioners who work on behalf of the country has remained unchanged.

Further, record spending in our elections, including from ultra-wealthy individuals who now serve at the highest levels of power, has placed the FEC’s responsibilities at the heart of maintaining a healthy democracy. While years of deadlock at the Commission have hindered its ability to serve as an effective regulator, removing commissioners without cause moves beyond dysfunction to outright destruction.

We call on you to rescind your unlawful letter and pursue the legal process for replacing commissioners in bipartisan consultation with the Senate.

Sincerely,

MIL OSI USA News –

February 13, 2025
MIL-OSI Security: California Teenager Sentenced to 48 Months for Nationwide Swatting Spree

Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

Orlando, Florida – United States District Judge Carlos E. Mendoza has sentenced Alan W. Filion (18, Lancaster, CA) to four years in federal prison for making interstate threats to injure the person of another.

According to the plea agreement, from approximately August 2022 to January 2024, Filion made over 375 swatting and threat calls, including calls in which he claimed to have planted bombs in the targeted locations or threatened to detonate bombs and/or conduct mass shootings at those locations. Filion targeted religious institutions, high schools, colleges and universities, government officials, and numerous individuals across the United States.

Filion intended his calls to cause large-scale deployment of police and emergency services units to the targeted locations. During these calls, he provided information to law enforcement and emergency services agencies that he knew to be false, such as false names, false claims that he and others had placed explosives in particular locations, false claims that he and others possessed dangerous weapons, including firearms and explosives, and false claims that he and/or other individuals had committed, or intended to imminently commit, violent crimes.

In some instances, armed law enforcement officers approached and entered a targeted residence with their weapons drawn and detained individuals that occupied the residence. Filion claimed in a post on January 20, 2023, that when he swats someone he “usually get[s] the cops to drag the victim and their families out of the house cuff them and search the house for dead bodies.” Additionally, Filion’s calls caused law enforcement officers and dispatchers to respond, and to be unavailable in response to other emergencies.

Filion became a serial swatter for both profit and recreation. He claimed in a January 19, 2023, online post that his “first” swatting was like “2 to 3 years ago” and that “6-9 months ago [he] decided to turn it into a business. . . .” On several occasions, Filion placed posts on social-media channels advertising his services and swatting-for-a-fee structure.

On January 18, 2024, Filion was arrested in California on Florida state charges arising from a May 2023 threat he made to a religious institution in Sanford, Florida. In that threat, he claimed to have an illegally modified AR-15, a Glock 17 pistol, pipe bombs, and Molotov cocktails. He said that he was going to imminently “commit a mass shooting” and “kill everyone” he saw. He pleaded guilty in federal court to making that threat.

Filion also pleaded guilty to making three other threatening calls: an October 2022 call to a public high school in the Western District of Washington, in which he threatened to commit a mass shooting and claimed to have planted bombs throughout the school; a May 2023 call to a Historically Black College & University in the Northern District of Florida, in which he claimed to have placed bombs in the walls and ceilings of campus housing that would detonate in about an hour; and a July 2023 call to a local police department dispatch number in the Western District of Texas, in which he falsely identified himself as a senior federal law enforcement officer, provided the federal law-enforcement officer’s residential address to the dispatcher, claimed to have killed his (the federal officer’s) mother, and threatened to kill any responding police officers.

This case was investigated by the Federal Bureau of Investigation and the United States Secret Service. Valuable assistance was provided by the Seminole County (Florida) Sheriff’s Office; the Anacortes (Washington) Police Department; the Florida Department of Law Enforcement; the California Department of Justice; the Los Angeles County (California) Sheriff’s Office; and the Volusia County (Florida) Sheriff’s Office. The case is being prosecuted by Assistant United States Attorney Kara Wick, with valuable assistance from the State Attorney’s Office for Seminole County, Florida, 18^th Judicial Circuit; the Counterterrorism Section of the United States Department of Justice; and the United States Attorneys’ Offices for the Western District of Washington, the Northern District of Florida, the Western District of Texas, and the District of Columbia.

MIL Security OSI –

February 13, 2025
MIL-OSI: Petrus Resources Announces 2025 Budget Guidance
Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, Feb. 12, 2025 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company“) (TSX: PRQ) is pleased to announce its 2025 capital guidance.

2025 BUDGET GUIDANCE

In 2025, Petrus will build on its strategy of disciplined capital investment by targeting projects designed to maintain production, increase liquids weighting, enhance capital efficiency and generate free funds flow. The Board of Directors has approved a $40 million to $50 million capital program, with approximately 70% allocated toward high-impact development drilling in its core Ferrier and North Ferrier areas. The remaining capital will be invested in strategic infrastructure, including a 12-kilometer expansion of the North Ferrier pipeline, and land acquisitions. The budget is based on price assumptions of USD$68.50/bbl WTI for oil, CAD$2.04/GJ AECO for natural gas and a USD/CAD exchange rate of $0.70. Through the execution of this capital program, Petrus expects to:
- Achieve 2025 annual average daily production of 9,000 to 10,000 boe¹ per day – 65% gas and 35% total liquids
- Generate $45 million to $55 million in annual funds flow² for 2025
- Pay a monthly dividend of $0.01/share – annually this represents approximately 9% of the current share price
- Maintain net debt flat² at $60 million
Given the inherent volatility of commodity prices, the Company recognizes it is prudent to remain disciplined and flexible from an operational and financial perspective. For 2025, the Company has hedged approximately 54% of its forecasted production at an average price of $2.78/GJ for natural gas and CAD $94.37/bbl for oil. Petrus will continue to monitor Canadian oil and natural gas prices and will evaluate the capital program on an ongoing basis.

The Company remains well-positioned to navigate changing market dynamics while delivering consistent value to shareholders. By leveraging operational efficiencies and maintaining financial discipline, Petrus continues to strengthen its financial position and reinforce long-term sustainability. As market conditions evolve, the Company is prepared to adapt and respond quickly to capture opportunities and maximize returns.

ABOUT PETRUS
Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions and risk-managed exploration in Alberta.

For further information, please contact:

Ken Gray
President and Chief Executive Officer
T: 403-930-0889
E: kgray@petrusresources.com

_____________________________

¹ Disclosure of production on a per boe basis consists of the constituent product types and their respective quantities. Refer to “BOE Presentation” and “Production and Product Type Information” for further details.

² Non-GAAP financial measure. During the year ended December 31, 2023, funds flow was $78.0 million. As at September 30, 2024, net debt was $60.4 million. Refer to “Non-GAAP and Other Financial Measures”.

READER ADVISORIES

Non-GAAP and Other Financial Measures

This press release refers to the terms “funds flow” and “net debt”. These non-GAAP and other financial measures are not recognized measures under GAAP (IFRS) and do not have a standardized meaning prescribed by GAAP (IFRS). Accordingly, the Company’s use of these terms may not be comparable to similarly defined measures presented by other companies. These non-GAAP and other financial measures should not be considered to be more meaningful than GAAP measures which are determined in accordance with IFRS as indicators of our performance. Management uses these non-GAAP and other financial measures for the reasons set forth below.

Funds Flow

Funds flow is a common non-GAAP financial measure used in the oil and natural gas industry that evaluates the Company’s profitability at the corporate level. Management believes that funds flow provides information to assist a reader in understanding the Company’s profitability relative to current commodity prices. The most directly comparable financial measure that is disclosed in the Company’s primary financial statements is oil and natural gas revenue, which was $125.6 million for the year ended December 31, 2023. For additional information regarding funds flow (including a reconciliation of funds flow to oil and natural gas revenue), see the disclosure under “Non-GAAP and Other Financial Measures – Corporate Netback and Funds Flow” in the Company’s Management’s Discussion & Analysis for the year ended December 31, 2023 which is available on SEDAR+ at www.sedarplus.ca, which disclosure is incorporated by reference herein.

Net Debt
Net debt is a non-GAAP financial measure and is calculated as the sum of long-term debt and working capital (current assets and current liabilities), excluding the current financial derivative contracts, the current portion of the lease obligation and the current portion of the decommissioning obligation. Petrus uses net debt as a key indicator of its leverage and strength of its balance sheet. As at September 30, 2024, long-term debt was $25 million. For additional information regarding net debt (including a reconciliation of net debt to long-term debt), see the disclosure under “Non-GAAP and Other Financial Measures – Net Debt” in the Company’s Management’s Discussion & Analysis for the three- and nine-month periods ended September 30, 2024 which is available on SEDAR+ at www.sedarplus.ca, which disclosure is incorporated by reference herein.

Forward-Looking Statements and FOFI

Certain information regarding Petrus set forth in this press release contains forward-looking statements within the meaning of applicable securities law, that involve substantial known and unknown risks and uncertainties. Such statements represent Petrus’ internal projections, estimates, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. These statements are only predictions and actual events or results may differ materially. Although Petrus believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievement since such expectations are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause Petrus’ actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Petrus. In particular, forward-looking statements included in this press release include, but are not limited to, statements with respect to: our intention in 2025 to build on our strategy of disciplined capital investment by targeting projects designed to maintain production, increase liquids weighting, enhance capital efficiency and generate free funds flow; the range of our capital program in 2025, with approximately 70% allocated toward high-impact development drilling in our core Ferrier and North Ferrier areas, and that the remaining capital will be invested in strategic infrastructure, including a 12-kilometer expansion of the North Ferrier pipeline, and land acquisitions; our belief that through the execution of our 2025 capital program we will achieve 2025 annual average daily production of 9,000 to 10,000 boe per day (65% gas and 35% total liquids), generate $45 million to $55 million in annual funds flow, pay a monthly dividend of $0.01/share, and maintain net debt flat at $60 million; our intention to remain disciplined and flexible from an operational and financial perspective; that for 2025 we have hedged approximately 54% of ours forecasted production, and the details thereof; our intention to continue to monitor Canadian oil and natural gas prices and evaluate our capital program on an ongoing basis; our belief that we are well-positioned to navigate changing market dynamics while delivering consistent value to shareholders; our belief that by leveraging operational efficiencies and maintaining financial discipline, we continues to strengthen our financial position and reinforce long-term sustainability; and that we are prepared to adapt and respond quickly to capture opportunities and maximize returns. These forward-looking statements are subject to numerous risks and uncertainties, most of which are beyond the Company’s control, including: the risk that (i) negotiations between the U.S. and Canadian governments are not successful and one or both of such governments implements announced tariffs, increases the rate or scope of announced tariffs, or imposes new tariffs on the import of goods from one country to the other, including on oil and natural gas, (ii) the U.S. and/or Canada imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas, and (iii) the tariffs imposed by the U.S. on other countries and responses thereto could have a material adverse effect on the Canadian, U.S. and global economies, and by extension the Canadian oil and natural gas industry and the Company; the risk that we do not generate sufficient funds flow and free funds flow to maintain our dividend at current levels and/or to maintain net debt flat; the impact of general economic conditions; volatility in market prices for crude oil, NGL and natural gas; industry conditions; currency fluctuation; changes in interest rates and inflation rates; imprecision of reserve estimates; liabilities inherent in crude oil and natural gas operations; environmental risks; incorrect assessments of the value of acquisitions and exploration and development programs; competition; the lack of availability of qualified personnel or management; changes in income tax laws or changes in tax laws and incentive programs relating to the oil and gas industry; hazards such as fire, explosion, blowouts, cratering, and spills, or extreme weather events, such as wild fires, floods, drought and extreme cold or warm temperatures, each of which could result in substantial damage to wells, production facilities, other property and the environment or in personal injury and/or increase our costs, decrease our production, or otherwise impede our ability to operate our business; stock market volatility; ability to access sufficient capital from internal and external sources; that the amount of dividends that we pay may be reduced or suspended entirely; that we reduce or suspend the repurchase of shares under our NCIB; and the other risks and uncertainties described in our Annual Information Form. With respect to forward-looking statements contained in this press release, Petrus has made assumptions regarding: that the tariffs that have been publicly announced by the U.S. and Canadian governments (but which are not yet in effect) do not come into effect, but that if such tariffs do come into effect, the potential impact of such tariffs, and that other than the tariffs that have been announced, neither the U.S. nor Canada (i) increases the rate or scope of such tariffs, or imposes new tariffs, on the import of goods from one country to the other, including on oil and natural gas, and/or (ii) imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas; the amount of dividends that we will pay; the number of shares that we will repurchase under our NCIB; future commodity prices (including as disclosed herein) and royalty regimes; availability of skilled labour; timing and amount of capital expenditures; future exchange rates (including as disclosed herein); the impact of increasing competition; conditions in general economic and financial markets; availability of drilling and related equipment and services; effects of regulation by governmental agencies; the effects of inflation on our profitability; future interest rates; and future operating costs. Management has included the above summary of assumptions and risks related to forward-looking information provided in this press release in order to provide investors with a more complete perspective on Petrus’ future operations and such information may not be appropriate for other purposes. Petrus’ actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. Readers are cautioned that the foregoing lists of factors are not exhaustive. This press release contains future-oriented financial information and financial outlook information (collectively, “FOFI”) about Petrus’ prospective results of operations including, without limitation, our forecasts for our 2025 capital spending program, 2025 annual average daily production rate, 2025 annual funds flow, 2025 monthly dividend, and 2025 net debt, which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth above. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on FOFI. Petrus’ actual results, performance or achievement could differ materially from those expressed in, or implied by, these FOFI, or if any of them do so, what benefits Petrus will derive therefrom. Petrus has included the FOFI in order to provide readers with a more complete perspective on Petrus’ future operations and such information may not be appropriate for other purposes.

These forward-looking statements and FOFI are made as of the date of this press release and the Company disclaims any intent or obligation to update any forward-looking statements and FOFI, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

BOE Presentation

The oil and natural gas industry commonly expresses production volumes and reserves on a barrel of oil equivalent (“boe”) basis whereby natural gas volumes are converted at the ratio of six thousand cubic feet to one barrel of oil. The intention is to sum oil and natural gas measurement units into one basis for simplified measurement of results and comparisons with other industry participants. Petrus uses the 6:1 boe measure which is the approximate energy equivalence of the two commodities at the burner tip. Boe’s do not represent an economic value equivalence at the wellhead and therefore may be a misleading measure if used in isolation.

Production and Product Type Information

The Company’s forecast 2025 annual average daily production rate disclosed in this press release (9,000 to 10,000 boe per day) consists of the following product types, as defined in National Instrument 51-101 and using the conversion ratio described above, where applicable: 15% light oil and condensate, 20% natural gas liquids and 65% conventional natural gas.

The MIL Network –
February 13, 2025
MIL-OSI Security: Carry the Kettle Nakoda Nation — Update on Suspicious Deaths on Carry the Kettle Nakoda Nation

Source: Royal Canadian Mounted Police

Identities of victims released

The Saskatchewan Coroner’s Service, in conjunction with the Saskatchewan RCMP and in collaboration with the families of the deceased victims, are releasing the names of the people who died as a result of the homicides on Carry the Kettle Nakoda Nation on February 4, 2025. Their identities are being released to help further the investigation.

We share our condolences with the families and community members impacted by this tragedy.

The Saskatchewan RCMP Major Crimes Family Liaison team and Victim Services continue to communicate with the victim’s families.

With this in mind and to assist ongoing reporting, families of the deceased have provided photographs of their loved ones which they have permitted us to share with news partners. They are the highest quality photographs we have available. The families have asked for privacy during this difficult time.

The deceased victims are identified as:

34-year-old Tracey Hotomani of Carry the Kettle Nakoda Nation
44-year-old Sheldon Quewezance of Zagime Anishinabek
47-year-old Shauna Fay of Indian Head
51-year-old Terry Jack of Carry the Kettle Nakoda Nation

Investigation has determined the homicide victims were injured by firearm. We are investigating the deaths as homicides. Initial investigation suggests the residence may have been targeted.

The investigation continues, which includes investigators speaking with individuals who may have relevant information to share, as well as evidence analysis. Neighbourhood canvasses have also occurred on Carry the Kettle Nakoda Nation.

At this time no arrests have been made in relation to the deaths of the four victims.

“We are actively investigating this tragedy to piece together the details of what happened – this takes time. We must be mindful that releasing more specific details could impact the overall investigation,” says Inspector Ashley St. Germaine, Senior Investigative Officer of Saskatchewan RCMP Major Crimes. “I reiterate: if you have information to share about this investigation, please speak directly with the police so it can be examined thoroughly. Rumours can spread quickly. Please remember the loss the victim’s loved ones have experienced. Misinformation can impact an investigation by rerouting investigators in false directions. Investigations must follow evidence and our investigators are trained to do just that.”

Report all tips to the RCMP by calling 911 in an emergency and 310-RCMP in non-emergencies. Information can be submitted anonymously by contacting Saskatchewan Crime Stoppers at 1-800-222-TIPS (8477) or www.saskcrimestoppers.com.

MIL Security OSI –

February 13, 2025
MIL-OSI United Nations: Policies to Bolster Social Resilience in Context of More Frequent, Complex Crises among Topics Discussed, as Commission for Social Development Continues Session

Source: United Nations General Assembly and Security Council

During one of two round-table discussions held today by the Commission for Social Development, panelists emphasized the importance of governance, preparedness and investment in human capital to strengthen “social resilience” — the ability of individuals and societies to prevent, absorb, adapt and recover positively from crises.

The Commission — established in 1946 by the Economic and Social Council as one of its functional commissions — advises the United Nations on social development issues, and its sixty-third session will run through 14 February.

The first panel discussion, titled “Policies to bolster social resilience in the context of more frequent and complex crises”, featured presentations that together offered a comprehensive understanding of the multidimensional nature of resilience and the policy actions needed to reinforce it.

“The sixty-third session of the Commission for Social Development comes at a pivotal time as we reflect on the legacies of the World Summit for Social Development held three decades ago in Copenhagen,” said Moderator Angela Kawandami, Permanent Secretary at the Ministry of Community Development and Social Services of Zambia. While the principles of social inclusion, poverty eradication and equity remain as vital as possible, the global landscape has transformed significantly, presenting new and compounding challenges that demand urgent and innovative solutions today, she said, adding that crises — more frequent, interconnected and complex, spanning geopolitical, economic, health and environmental spheres — are testing the resilience of societies and institutions.

Meir Bing, Chief Executive Officer at the Open University of Israel, presented a case study of building resilience in minority populations in his country, where the number of minority students in higher education more than doubled in the last decade. He said that a year ago, he was General Director of the Ministry of Social Equality in charge of minorities. Of the 10 million people in his country, 2 million are religious and ethnical minority groups, including Muslim, Christian and Druze, he said, adding that many of them are young and face socioeconomic challenges.

He highlighted the three keys to building resilience in vulnerable populations: fostering trust between Government and social and business sectors; enhancing infrastructure and public services; and creating communities. Sharing how educational and other infrastructure and socioeconomic projects are expanded in the country’s local communities, he said that the percentage of students from minority groups in bachelor’s degree programmes increased from 10 per cent in 2010 to nearly 20 per cent in 2023.

Marek Kamiński, explorer and founder of the Kaminski Foundation, said that during his expeditions, he learned that physical strength isn’t enough, stating: “The real fight happens in the mind, with fear and doubt. We all need to ask, are we strong enough inside to face the challenges ahead?” Today’s world needs practical solutions to help people handle crises. That’s why he created LifePlan Academy, a programme that teaches mental resilience, stress management and how to adapt to challenges. It’s a practical tool that works in any country with any culture, he said, stressing: “With the right tools and support, anyone can overcome challenges and achieve their goals.”

Michael Woolcock, Lead Social Scientist in the Development Research Group at the World Bank, said that development policies are as effective as the shared legitimacy they enjoy. Development policies will struggle, where societal groups despise one another, where elite factions use lies and violence to secure power, where there is little coherence or trust between local and national authority, and where Governments reject international law and covenants to which they are a signatory. “So all these nice policies that we come up with — unless they can engage with these local contexts and imbue them with the legitimacy they need to do their difficult work — are probably going to struggle,” he said.

Obiageli Ezekwesili, President of Human Capital Africa, founder of the School of Politics Policy and Governance, and Senior Economic Adviser at the Africa Economic Development Policy Initiative, said that “democracy is in crisis more than it had ever been”. The power of society to be resilient depends on how everyone feels cared for within society. Today’s democratic processes are exclusionary in many ways. That’s because the tiny fraction of people who exercise political leadership in many countries have become monopoly democrats. “We must fix politics,” she said, noting a strong correlation between the quality of politics and economic performance. “Let’s keep an eye on the United States of America,” she added.

Michael Woolcock, Lead Social Scientist, World Bank, served as moderator for the second panel, which focused on “Universal rights-based social protection systems that adapt to evolving risks and support social resilience”. “For our present purposes, we are going to recognize that social resilience refers to the capacity of individuals and societies to prevent, resist, absorb, adapt, respond and recover positively, efficiently and effectively when faced with a wide range of long-term prospects for sustainable development, peace and security, human rights and well-being for all,” he said before commencing the panel discussion.

Danilo Türk, President of Club de Madrid and former President of Slovenia, stressed the need to make sure that social development is guided in a way that promotes the full realization of human rights. “This means adopting an approach which anticipates and addresses the vulnerabilities of people,” he went on to stress. That must include the consequences of climate change and its effect on populations, especially those vulnerable to displacement. Innovations like digital cash transfers, mobile health services and data driven risk assessment can significantly improve service delivery, particularly for marginalized and remote populations. Social protection systems must consider the interests of vulnerable segments of societies, particularly women, youth, older people and persons with disabilities.

Angela Chomba Kawandami, Permanent Secretary at the Ministry of Community Development and Social Services, Zambia, said that social protection systems are central to addressing vulnerabilities, reducing poverty and mitigating the impacts of various risks such as climate change, pandemics and economic crises. “Social protection systems in Zambia are designed to address both short-term needs and long-term vulnerabilities,” she added. These systems include cash transfers, food assistance and social insurance schemes. “The goal is to ensure that individuals, especially those in our rural areas, older persons, persons with disabilities and other vulnerable groups, have access to basic services and support mechanisms,” she emphasized. Zambia’s social protection programmes aim to reduce vulnerability by providing financial support to households living below the poverty line. Climate change is also included into Zambia’s protection system as the phenomenon poses an increasing threat with more frequent droughts and floods.

Héctor Ramón Cárdenas Molinas, Executive Director of the Technical Unit of the Social Cabinet of the President of Paraguay, said that extreme weather events cause major damage and loss. “Most of them are linked to climate events,” he said, noting their high economic and social impact. Exposure depends not only on geographic location but also on the development policies and adaptation measures taken to mitigate the risks of climate change. “It is absolutely essential that we integrate policies and strategies that promote sustainable and resilient development,” he said. Underscoring other initiatives in health, education and poverty eradication, he said Paraguay aims to ensure that services meet very high standards in terms of efficiency and effectiveness. “The main challenge remains financing,” he added.

Edgilson Tavares de Araújo, Ministry of Development and Social Assistance, Brazil, said that Brazil’s social protection system is based on the principles of universality, equity and democracy. “Since 2023, we have seen a drop of 84 per cent in severe food insecurity, according to a 2024 UN survey,” he added. With the creation of a global alliance to fight hunger and poverty, Brazil hopes to continue to make progress. A strong State working with a healthy civil society must be resilient to truly transform society. “We are increasing our budgetary commitments and broadening our global alliance to combat hunger and poverty,” he went on to say. Brazil is committed to providing decent employment and “an economy of solidarity” which can help build social resilience. “Being protected means having someone to rely on,” he added.

MIL OSI United Nations News –

February 13, 2025
MIL-OSI Submissions: Japan’s Expertise in International Assistance: Leveraging Experiences Gained in Southeast Asia to Aid Ukraine -The Shared Future of Asia and Japan

Source: Japan Connect

Diplomacy / InternationalAsia & Pacific

In 2022, Russia invaded Ukraine. The Russian military has continuously been launching missiles and artillery attacks on civilian facilities, causing great damage to the lives of the Ukrainian people. Japan is offering various assistance through public and private endeavors to rebuild lives, drawing on experiences gained through providing aid to countries in Southeast Asia.

One such example is a water supply aid project. As part of the government’s gratuitous recovery assistance, Japan is sending mobile water purification systems and ready-to-assemble water supply tanks to Ukraine’s cities where water supply networks were destroyed.

As part of this initiative, Nihon Genryo Co., Ltd., a manufacturer of water treatment systems headquartered in Kawasaki, Kanagawa Prefecture, delivered four Mobile Siphon Tanks, a mobile water purification system, to Ukraine’s capital Kyiv and the southern port city Odesa. The system, developed by Nihon Genryo, does not require filter replacements, which were necessary in previous water purification systems. The company also invited water supply technicians in Kyiv to Japan and conducted training on water purification technology.

Nihon Genryo has been deeply involved in Southeast Asia. In 1982, it delivered fully automatic dust scrapers to the Bangkhen Water Treatment Plant in Bangkok, Thailand, to help remove impurities and provide safe, treated water. It also delivered Mobile Siphon Tanks to cities in Laos and Vietnam as part of Japan’s Official Development Assistance (ODA) and is training local staff on how to use them. In Laos, the company carried out emergency water supply operations during flood disasters in 2013 and 2020. In the Philippines, it provided drinking water to regions without access to a water supply by using river water. It also carried out emergency water supply operations at the request of the Japanese government in the wake of disasters such as Super Typhoon Haiyan in 2013 and Super Typhoon Rai in 2021. In this way, the company gained extensive experience assisting the lives and lifestyles of people in Southeast Asia, which is now being leveraged to help Ukraine, halfway across the globe in Europe.

In addition to water supply assistance, Japan also has international experience in providing aid to people with disabilities. Since Russia’s invasion, over 300,000 Ukrainian troops and civilians have become disabled as a result of injuries. However, medical equipment is growing outdated due to a shortage of funds, and providing assistance is an urgent matter. Japan provided rehabilitation equipment and welfare vehicles to 11 facilities in Kyiv Oblast through the Japan International Cooperation Agency (JICA). In December 2024, a commemorative ceremony was held in Kyiv. Ruslan Kravchenko, the governor of Kyiv Oblast, expressed his gratitude, saying, “We thank the Japanese government and its people for their extensive support. This will allow us to greatly improve the conditions for people with disabilities.”

Japan has also been committed to providing aid to people with disabilities in Southeast Asia. Gratuitous financial assistance was offered to Indonesia, for example, by providing mobile rehabilitation equipment in 1989 and taking part in a project to construct a vocational rehabilitation center for people with disabilities in 1995. In addition to dispatching Japanese specialists and Japan Overseas Cooperation Volunteers (JOCVs) to countries like Thailand and the Philippines, Japan also invites trainees from various countries to Japan through JICA initiatives to help raise rehabilitation standards for people with disabilities.

Removing landmines is another urgent issue that must be addressed in Ukraine. It is believed that the Russian military may have planted mines in an area of up to 150,000 square kilometers, which amounts to over a fourth of the country’s land. The Japanese government has been engaged in mine clearance efforts in Cambodia for many years. Drawing on this experience, it is offering comprehensive support to Ukraine by providing resources developed by Japanese companies, such as mine detectors, mine removers and systems using artificial intelligence (AI) to identify areas where mines have been planted, in addition to training on how to prevent injuries and offering aid to victims.

Japan is also working on assisting Ukrainian soldiers and civilians who survived mines but lost their limbs.

Instalimb, Inc. is a startup company headquartered in Tokyo that utilizes digital technology to create prosthetic legs. The company uses a special scanner to capture the shape of a patient’s leg and creates a 3D-printed prosthetic based on data designed by a prosthetist using software.

The CEO of the company, Yutaka Tokushima, said in an interview with the Japanese broadcasting network TBS Television, “One (of the merits) is that we can create prosthetics very quickly. Where it usually takes a month, we can do it in a day (at the quickest) and significantly lower the cost. Another merit is that one professional prosthetist can make many prosthetics.”

Prosthetic legs cost around 400,000 yen in Japan, but Tokushima says the company can reduce it to one-tenth of that amount.

Instalimb has its roots in the Philippines. After working at a computer-related company and as a designer of industrial products, Tokushima joined the JOCV program under JICA and was posted to the Philippines in 2012.

Later, with support from JICA and the Philippine government, he established a laboratory equipped with a 3D printer and laser cutter for industrial development. After he learned that many people in the Philippines needed prosthetic legs as a result of diabetes, he took on the challenge of developing high-performance yet affordable prosthetics. Over the course of four years, he developed a technology that specialized in creating prosthetic legs using 3D printing. These prosthetics are now available to people in the Philippines who cannot afford conventional ones.

As he works on creating prosthetics in Ukraine, Tokushima says, “Many people want to recover and rebuild their lives, but they can’t work because they don’t have access to prosthetic legs. So I want to give them hope, first and foremost. Our current mission is to provide prosthetics to each and every person who needs them as we aim for the ultimate goal of helping all the people of Ukraine regain their bright future.” A Japanese company, born in the Philippines, is now striving to help the wounded people of Ukraine.

Japan is offering aid to Ukraine in a diverse range of fields including infrastructure, education, agriculture, economy, machinery and culture—and much of this expertise comes from the experience Japan gained in Southeast Asia.

By Akio Yaita
Journalist. Graduated from the Faculty of Letters at Keio University. After completing his doctorate at the Chinese Academy of Social Sciences, he worked as a correspondent for the Sankei Shimbun in Beijing and as Taipei bureau chief. Author or co-author of many books.

*The stories and materials above are provided by JIJI.com or AFPBBNews. Feel free to feature these stories in your own media.

About “Japan Connect”
Bringing you the latest stories about Japan.
This new service is provided by AFPBB News, which AFP launched in 2007.

MIL OSI – Submitted News –

February 13, 2025
MIL-OSI USA: Cortez Masto Joins Push Urging Trump Administration to Exempt Seasonal Firefighters from Federal Hiring Freeze

US Senate News:

Source: United States Senator for Nevada Cortez Masto
Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) joined 14 of her Senate colleagues in a letter urging the Trump Administration to exempt seasonal firefighters from the federal hiring freeze. Reports emerged last week indicating that the federal funding freeze is preventing the hiring and onboarding of seasonal firefighters, a workforce that already struggles with recruitment and retention. This comes as the West continues to be ravaged by deadly wildfires.
“We write today following reports that hiring and onboarding for federal seasonal firefighters has stopped due to the Trump Administration’s federal hiring freeze,” wrote the Senators. “We are extremely concerned to hear that this is happening across the U.S. Forest Service, Bureau of Land Management, and National Park Service ahead of what’s expected to be another devastating wildfire year.”
“Although there is an urgent need to hire more federal firefighters, the Trump Administration’s hiring freeze does the opposite and is pausing hiring at a critical time for this already understaffed workforce,” they continued. “We urge you to put the safety of families and communities across the country first and allow the federal seasonal firefighter hiring process to continue without delay.”
The full text of letter can be found here.
Senator Cortez Masto has led efforts to support Nevada firefighters and combat the wildfire crisis in the West, securing billions in the Bipartisan Infrastructure Law and the Inflation Reduction Act to support wildfire risk reduction and new firefighting equipment. She recently visited the burn scar of the Davis Fire and discussed key resources she’s delivered for wildfires fuels reduction in Northern Nevada. She also ensured all federal wildland firefighters—including many working in Nevada — got a significant pay raise in 2023 and helped designate the Sierra and Elko Fronts as Wildfire Crisis Strategy Landscapes for wildfire prevention efforts.

MIL OSI USA News –

February 13, 2025
MIL-OSI USA: Cassidy Honored by Louisiana Sheriffs’ Association for Repealing WEP, GPO

US Senate News:

Source: United States Senator for Louisiana Bill Cassidy

WASHINGTON – Last week, U.S. Senator Bill Cassidy, M.D. (R-LA) was awarded the Fraternal Order of Police National President’s Advocacy Award for his instrumental role in passing the Social Security Fairness Act, which fully repeals two unfair Social Security provisions known as the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). It was signed into law on January 5, 2024 after Cassidy successfully secured a vote on the Senate floor. Prior to the passage of the Social Security Fairness Act, WEP and GPO unfairly penalized 94,000 state and local public servants in Louisiana, including Louisiana sheriffs.
“No one should be penalized for serving their communities. For years, I have worked to make sure our police officers and all public servants receive the full Social Security benefits they have earned,” said Dr. Cassidy. “I stand committed to those who protect and serve Louisiana every day. Thank you to the Louisiana Sheriffs’ Association for this honor.”
Background
Last week, Cassidy led his colleagues in sending a letter to acting Social Security Commissioner Michelle King calling for the immediate implementation of the Social Security Fairness Act to provide full Social Security benefits for millions of public servants impacted by WEP and GPO.
Cassidy played a pivotal role in getting the Social Security Fairness Act signed into law on January 5, 2025. Cassidy successfully demanded a vote on the Social Security Fairness Act. In July 2024 and again in December, Cassidy spoke on the U.S. Senate floor urging Congress to repeal WEP and GPO as part of his “Big Idea” to save, strengthen, and secure America’s retirement system. In June, Cassidy entered a statement into the record urging the repeal of WEP and GPO ahead of the U.S. Senate Finance Subcommittee field hearing on Social Security.
Cassidy is a long-time cosponsor of the Social Security Fairness Act in the Senate, being an original cosponsor since he became a Member of Congress in 2009. He led the introduction of the legislation in the 117th and 116th Congress.
Cassidy led a bipartisan working group to preserve and protect Social Security. He released the inaugural Bill on the Hill video where he asked Capitol Hill visitors from across the country their thoughts on the looming benefit cuts to Social Security and presented his “Big Idea.”
Last March, Cassidy grilled U.S. Treasury Secretary Janet Yellen on President Biden’s plan to address Social Security, to which Secretary Yellen admitted “the president doesn’t have a plan,” to save Social Security.
Cassidy has discussed the “Big Idea” at a public forum with AARP on the future of Social Security, outlined his Social Security plan in a fireside chat with the Bipartisan Policy Committee, and authored op-eds in the Washington Examiner in July, the Wall Street Journal in March, and State Affairs and Washington Post in May.

MIL OSI USA News –

February 13, 2025
MIL-OSI Security: Two Pharmacists Convicted for Illegal Distribution of Oxycodone

Source: Office of United States Attorneys

Defendants Conspired to Fill Fake Prescriptions for Oxycodone Pills Written by a Doctor’s Receptionist and Distributed to Street Drug Dealers for Cash

Earlier today, a federal jury in Brooklyn returned guilty verdicts against licensed pharmacists Yousef Ennab and Mohamed Hassan on all counts of a superseding indictment charging them with conspiracies to dispense and distribute oxycodone, as well as distribution and possession with intent to distribute oxycodone. The verdict followed a three-week trial before United States District Judge Ann M. Donnelly. When sentenced, the defendants each face up to 60 years in prison.

John J. Durham, United States Attorney for the Eastern District of New York; Frank A. Tarentino III, Special Agent in Charge, Drug Enforcement Administration, New York Division (DEA); Naomi Gruchacz, Assistant Special Agent in Charge, U.S. Department of Health and Human Services, Office of Inspector General (HHS-OIG); Harry T. Chavis, Jr., Special Agent in Charge, Internal Revenue Service Criminal Investigation, New York (IRS-CI); Jessica S. Tisch, Commissioner, New York City Police Department (NYPD); Jocelyn E. Strauber, Commissioner, New York City Department of Investigation (DOI); and Dr. James V. McDonald, Commissioner, New York State Department of Health, announced the verdicts.

“The defendants abused their access to oxycodone and violated the trust placed in them as pharmacists by illegally agreeing to supply drug dealers with tens of thousands of pills to sell on the streets of our district with zero regard for the immense harm this dangerously addictive narcotic has caused,” stated United States Attorney Durham. “Pharmacists have a responsibility to prevent the illegal flow of drugs from their businesses, but these defendants only cared about lining their pockets with cash. With today’s verdict they will soon learn there is a reckoning for their criminal conduct that has contributed to the opioid epidemic.”

United States Attorney Durham expressed sincere thanks to his team of prosecutors and paralegals and all of the law enforcement partners whose tireless efforts contributed to the convictions of these defendants and their co-conspirators. They include the Federal Bureau of Investigation, the Office of the New York State Comptroller, the New York Attorney General’s Medicaid Fraud Control Unit and the New York National Guard.

“Today’s verdict against Yousef Ennab and Mohamed Hassan sends a strong message to anyone in the medical profession willing to betray their patients’ trust,” stated DEA New York Special Agent in Charge Tarentino. “Pharmacists who abuse their license, a license to help and promote the health and safety of others, will be prosecuted to the fullest extent of the law. This abuse is a breach of trust that not only undermines public confidence but also causes irreputable harm and erodes the foundation of integrity which the public relies on. The DEA and our partners will continue to target those individuals who abuse their authority and profit from fueling the national opioid crisis.”

“The pharmacists convicted in this case chose to dispense illegally prescribed controlled substances to patients and accept cash kickbacks to do so, which is especially egregious given the ongoing opioid epidemic,” stated HHS-OIG Special Agent in Charge Gruchacz. “HHS-OIG will continue to work with our law enforcement partners to ensure health care providers involved in schemes that threaten patient safety are held accountable.”

“These two men used their positions as pharmacists to scheme and cheat the system, filling their pockets with the money of the vulnerable and addicted. Yousef Ennab and Mohamed Hassan had little regard for the safety and well-being of their clients, and today a jury of their peers found them guilty of their criminal behavior. This conviction was made possible with the collaborative efforts of our federal and local partners, and now both defendants will soon be faced with sentencing,” stated IRS-CI Special Agent in Charge Chavis.

“Whether illegal drug transactions occur on a street corner or in brick-and-mortar pharmacies masquerading as legitimate businesses, the pushers are fueling addiction,” stated NYPD Commissioner Tisch. “The numbers here are staggering—over 1.2 million pills exchanged with a street value of approximately $24 million. While the full extent of the harm is unquantifiable, the guilty verdicts send a clear message that wherever you illegally distribute drugs, your operation will be shut down and you will go to jail. I thank the investigators in the NYPD, in the U.S. Attorney’s Office, and across numerous law enforcement agencies for their joint effort to eradicate poison from our streets.”

“The defendants’ criminal conduct, and that of their co-conspirators, flooded our city with 1.2 million pills of highly addictive oxycodone. Their convictions make clear that DOI, the U.S. Attorney’s Office for the Eastern District of New York, and all of our partner law enforcement agencies involved in this investigation are committed to bringing to justice those responsible for the distribution of dangerous drugs.” stated DOI Commissioner Strauber.

“The Department takes professional and medical misconduct very seriously, with the health and safety of New Yorkers and our communities being of utmost concern,” stated New York State Department of Health Commissioner McDonald. “The State Department of Health’s Bureau of Narcotic Enforcement will continue to remain vigilant and collaborate with law enforcement agencies to protect the public health by combatting diversion and safeguarding the legitimate use of controlled substances in health care.”

As proven at trial, Hassan and Ennab were licensed pharmacists who participated in a large-scale scheme using illegal medical prescriptions to obtain oxycodone for distribution on the streets of New York City. Hassan held ownership stakes in more than a dozen pharmacies, where were located in Brooklyn, Queens and Staten Island and did business under the names Nile RX, Nile Ridge, Nile City, Sunset Corner, Prospect Care, Downtown RX and Forest Care, among others. Ennab was the supervising pharmacist at Forest Care, one of Hassan’s pharmacies in Staten Island.

The scheme relied on filling illegally issued prescriptions for 30-day supplies of oxycodone 30 mg that were written out of a Brooklyn medical practice operating as a pill mill, often for patients that the resident doctor at the practice had never examined. Oxycodone 30 pills are high in strength and are prescribed to cancer patients, for instance. In some cases, the prescriptions were for individuals whose identities had been stolen and were not patients of the practice. The prescriptions were then filled at pharmacies controlled by Hassan, including the pharmacy where Ennab worked. Hassan and Ennab conspired with other drug dealers to effect the distribution of the illegally obtained oxycodone. One of the drug dealers picked up the oxycodone from the pharmacies in exchange for cash payments to Hassan and Ennab. Hassan and other pharmacist co-conspirators also billed insurance companies for the pills even though they had no legitimate medical purpose. The trial evidence included video footage of Ennab taking a cash payment from one of the drug dealers, Michael Kent, while handing over multiple prescriptions for oxycodone for sham patients. In total, the scheme resulted in the illegal distribution of more than 1.2 million pills of oxycodone worth more than $36 million in retail street value.

Six co-defendants, including Dr. Somsri Ratanaprasatporn, her receptionist Leticia Smith and pharmacists Bassam Amin and Omar Elsayed, previously pleaded guilty based on their involvement in the scheme and are awaiting sentencing. A seventh co-defendant, Michael Kent, previously pleaded guilty and was sentenced to nine years’ incarceration.

These convictions are part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation led by the U.S. Attorney’s Office and the DEA. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

Assistant United States Attorneys Laura Zuckerwise, Victor Zapana and Gilbert M. Rein are in charge of the prosecution with assistance from Paralegal Specialists Rachel Friedman and Nadya Osman. Assistant United States Attorney Claire Kedeshian is handing forfeiture matters.

The Defendants:

YOUSEF ENNAB
Age: 27
Brooklyn, New York

MOHAMED HASSAN
Age: 34
Brooklyn, New York

Co-Defendants Who Pleaded Guilty:

LETICIA SMITH
Age: 54
Brooklyn, New York

BASSAM AMIN
Age: 69
Brooklyn, New York

OMAR ELSAYED
Age: 28
Hackensack, New Jersey

YOUSEF ENNAB
Age: 25
Brooklyn, New York

MICHAEL KENT
Age: 49
Brooklyn, New York

ANTHONY MATHIS
Age: 55
New Windsor, New York

Dr. SOMSRI RATANAPRASATPORN
Age: 75
Staten Island, New York

RAYMOND WALKER
Age: 70
Brooklyn, New York

E.D.N.Y. Docket No. 22-CR-464 (AMD)

MIL Security OSI –

February 13, 2025

Submitted by	CFA media

MIL-OSI: Palomar Holdings, Inc. Reports Fourth Quarter & Full Year 2024 Results

Source: GlobeNewswire (MIL-OSI)

LA JOLLA, Calif., Feb. 12, 2025 (GLOBE NEWSWIRE) — Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or “Company”) reported net income of $35.0 million, or $1.29 per diluted share, for the fourth quarter of 2024 compared to net income of $25.9 million, or $1.02 per diluted share, for the fourth quarter of 2023. Adjusted net income⁽¹⁾ was $41.3 million, or $1.52 per diluted share, for the fourth quarter of 2024 as compared to $28.0 million, or $1.11 per diluted share, for the fourth quarter of 2023.

Fourth Quarter 2024 Highlights

Gross written premiums increased by 23.3% to $373.7 million compared to $303.2 million in the fourth quarter of 2023
Net income increased 35.0% to $35.0 million compared to $25.9 million in the fourth quarter of 2023
Adjusted net income⁽¹⁾ increased 47.5% to $41.3 million compared to $28.0 million in the fourth quarter of 2023
Total loss ratio of 25.7% compared to 19.1% in the fourth quarter of 2023
Combined ratio of 75.9% compared to 74.2% in the fourth quarter of 2023
Adjusted combined ratio⁽¹⁾ of 71.7% compared to 68.8%, in the fourth quarter of 2023
Annualized return on equity of 19.5% compared to 23.2% in the fourth quarter of 2023
Annualized adjusted return on equity⁽¹⁾ of 23.1% compared to 25.1% in the fourth quarter of 2023

Full Year 2024 Highlights

Gross written premiums increased by 35.1% to $1.5 billion compared to $1.1 billion in 2023
Net income increased 48.4% to $117.6 million compared to $79.2 million in 2023
Adjusted net income⁽¹⁾ increased 42.8% to $133.5 million compared to $93.5 million in 2023
Total loss ratio of 26.4% compared to 21.0% in 2023
Combined ratio of 78.1% compared to 76.6% in 2023
Adjusted combined ratio⁽¹⁾ of 73.7% compared to 71.2% in 2023
Return on equity of 19.6% compared to 18.5% in 2023
Adjusted return on equity⁽¹⁾ of 22.2% compared to 21.9% in 2023

(1) See discussion of “Non-GAAP and Key Performance Indicators” below.

Mac Armstrong, Chairman and Chief Executive Officer, commented, “Palomar’s stellar 2024 was capped off by an exceptional fourth quarter. During the quarter, we generated gross written premiums growth of 23%, 39% when excluding run-off business from our results, adjusted net income growth of 48%, inclusive of $8.1 million of catastrophe losses, and, importantly, an adjusted return on equity of 23%. When looking at the full year we not only generated record gross written premiums and adjusted net income, but we grew our top and bottom-line 35% and 43%, respectively. Additionally, throughout 2024 we made significant investments across the organization that we believe will sustain our earnings base and profitable growth trajectory.” 

Mr. Armstrong continued, “Beyond the strong financial results of the fourth quarter and 2024, Palomar’s accomplishments were several and notable, highlighted by our AM Best upgrade and the acquisition of First Indemnity of America, our surety operation. Furthermore, we accomplished a Palomar 2X fundamental strategic objective by doubling our adjusted underwriting income for the 2021 period in a three-year timeframe. We are energized by our prospects to continue this profitable growth in 2025 and thereafter.” 

Underwriting Results

Gross written premiums increased 23.3% to $373.7 million compared to $303.2 million in the fourth quarter of 2023, additionally net earned premiums increased 54.6% compared to the prior year’s fourth quarter.

Losses and loss adjustment expenses for the fourth quarter were $37.2 million, comprised of $29.1 million of attritional losses and $8.1 million of catastrophe losses primarily related to Hurricane Milton. The loss ratio for the quarter was 25.7%, comprised of an attritional loss ratio of 20.1% and a catastrophe loss ratio of 5.6%, compared to a loss ratio of 19.1% during the same period last year, all comprised of attritional losses.

Underwriting income⁽¹⁾ for the fourth quarter was $34.9 million resulting in a combined ratio of 75.9% compared to underwriting income of $24.2 million resulting in a combined ratio of 74.2% during the same period last year. The Company’s adjusted underwriting income⁽¹⁾ was $41.0 million resulting in an adjusted combined ratio⁽¹⁾ of 71.7% in the fourth quarter compared to adjusted underwriting income⁽¹⁾ of $29.3 million and an adjusted combined ratio⁽¹⁾ of 68.8% during the same period last year.

Investment Results
Net investment income increased by 61.3% to $11.3 million compared to $7.0 million in the prior year’s fourth quarter. The increase was primarily due to higher yields on invested assets and a higher average balance of investments held during the three months ended December 31, 2024 due to cash generated from operations and proceeds from our August 2024 stock offering. The weighted average duration of the fixed-maturity investment portfolio, including cash equivalents, was 4.04 years at December 31, 2024. Cash and invested assets totaled $1.1 billion at December 31, 2024. During the fourth quarter, the Company recorded net realized and unrealized losses of $1.2 million related to its investment portfolio as compared to net realized and unrealized gains of $3.0 million in last year’s fourth quarter.

Tax Rate
The effective tax rate for the three months ended December 31, 2024 was 22.2% compared to 22.6% for the three months ended December 31, 2023. For the current quarter, the Company’s income tax rate differed from the statutory rate due primarily to the non-deductible executive compensation expense, offset by the permanent component of employee stock option exercises.

Stockholders’ Equity and Returns
Stockholders’ equity was $729.0 million at December 31, 2024, compared to $471.3 million at December 31, 2023. For the three months ended December 31, 2024, the Company’s annualized return on equity was 19.5% compared to 23.2% for the same period in the prior year while adjusted return on equity⁽¹⁾ was 23.1% compared to 25.1% for the same period in the prior year.

Full Year 2025 Outlook
For the full year 2025, the Company expects to achieve adjusted net income of $180 million to $192 million. This includes an estimate of $8 million to $12 million of catastrophe losses for the year.

Conference Call
As previously announced, Palomar will host a conference call Thursday, February 13, 2025, to discuss its fourth quarter 2024 results at 12:00 p.m. (Eastern Time). The conference call can be accessed live by dialing 1-877-423-9813 or for international callers, 1-201-689-8573, and requesting to be joined to the Palomar Fourth Quarter 2024 Earnings Conference Call. A replay will be available starting at 4:00 p.m. (Eastern Time) on February 13, 2025, and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the replay is 13743970. The replay will be available until 11:59 p.m. (Eastern Time) on February 20, 2025.

Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the investor relations section of the Company’s website at http://ir.palomarspecialty.com/. The online replay will remain available for a limited time beginning immediately following the call.

About Palomar Holdings, Inc.
Palomar Holdings, Inc. is the holding company of subsidiaries Palomar Specialty Insurance Company (“PSIC”), Palomar Specialty Reinsurance Company Bermuda Ltd. (“PSRE”), Palomar Insurance Agency, Inc. (“PIA”), Palomar Excess and Surplus Insurance Company (“PESIC”), Palomar Underwriters Exchange Organization, Inc (“PUEO”), Palomar Crop Insurance Services, Inc, and First Indemnity of America Insurance Company (acquired 1/1/2025). Palomar’s consolidated results also include Laulima Reciprocal Exchange, a variable interest entity for which the Company is the primary beneficiary. Palomar is an innovative specialty insurer serving residential and commercial clients in five product categories: Earthquake, Inland Marine and Other Property, Casualty, Fronting, and Crop. Palomar’s insurance subsidiaries, Palomar Specialty Insurance Company, Palomar Specialty Reinsurance Company Bermuda Ltd., and Palomar Excess and Surplus Insurance Company, have a financial strength rating of “A” (Excellent) from A.M. Best.

Non-GAAP and Key Performance Indicators

Palomar discusses certain key performance indicators, described below, which provide useful information about the Company’s business and the operational factors underlying the Company’s financial performance.

Underwriting revenue is a non-GAAP financial measure defined as total revenue, excluding net investment income and net realized and unrealized gains and losses on investments. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of total revenue calculated in accordance with GAAP to underwriting revenue.

Underwriting income is a non-GAAP financial measure defined as income before income taxes excluding net investment income, net realized and unrealized gains and losses on investments, and interest expense. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of income before income taxes calculated in accordance with GAAP to underwriting income.

Adjusted net income is a non-GAAP financial measure defined as net income excluding the impact of certain items that may not be indicative of underlying business trends, operating results, or future outlook, net of tax impact. The Company calculates the tax impact only on adjustments which would be included in calculating its income tax expense using the estimated tax rate at which the company received a deduction for these adjustments. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of net income calculated in accordance with GAAP to adjusted net income.

Annualized Return on equity is net income expressed on an annualized basis as a percentage of average beginning and ending stockholders’ equity during the period.

Annualized adjusted return on equity is a non-GAAP financial measure defined as adjusted net income expressed on an annualized basis as a percentage of average beginning and ending stockholders’ equity during the period. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of return on equity calculated using unadjusted GAAP numbers to adjusted return on equity.

Loss ratio, expressed as a percentage, is the ratio of losses and loss adjustment expenses, to net earned premiums.

Expense ratio, expressed as a percentage, is the ratio of acquisition and other underwriting expenses, net of commission and other income to net earned premiums.

Combined ratio is defined as the sum of the loss ratio and the expense ratio. A combined ratio under 100% generally indicates an underwriting profit. A combined ratio over 100% generally indicates an underwriting loss.

Adjusted combined ratio is a non-GAAP financial measure defined as the sum of the loss ratio and the expense ratio calculated excluding the impact of certain items that may not be indicative of underlying business trends, operating results, or future outlook. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of combined ratio calculated using unadjusted GAAP numbers to adjusted combined ratio.

Diluted adjusted earnings per share is a non-GAAP financial measure defined as adjusted net income divided by the weighted-average common shares outstanding for the period, reflecting the dilution which could occur if equity-based awards are converted into common share equivalents as calculated using the treasury stock method. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of diluted earnings per share calculated in accordance with GAAP to diluted adjusted earnings per share.

Catastrophe loss ratio is a non-GAAP financial measure defined as the ratio of catastrophe losses to net earned premiums. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of loss ratio calculated using unadjusted GAAP numbers to catastrophe loss ratio.

Adjusted combined ratio excluding catastrophe losses is a non-GAAP financial measure defined as adjusted combined ratio excluding the impact of catastrophe losses. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of combined ratio calculated using unadjusted GAAP numbers to adjusted combined ratio excluding catastrophe losses.

Adjusted underwriting income is a non-GAAP financial measure defined as underwriting income excluding the impact of certain items that may not be indicative of underlying business trends, operating results, or future outlook. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of income before income taxes calculated in accordance with GAAP to adjusted underwriting income.

Tangible stockholders’ equity is a non-GAAP financial measure defined as stockholders’ equity less goodwill and intangible assets. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of stockholders’ equity calculated in accordance with GAAP to tangible stockholders’ equity.

Safe Harbor Statement
Palomar cautions you that statements contained in this press release may regard matters that are not historical facts but are forward-looking statements. These statements are based on the company’s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Palomar that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in the Company’s business. The forward-looking statements are typically, but not always, identified through use of the words “believe,” “expect,” “enable,” “may,” “will,” “could,” “intends,” “estimate,” “anticipate,” “plan,” “predict,” “probable,” “potential,” “possible,” “should,” “continue,” and other words of similar meaning. Actual results could differ materially from the expectations contained in forward-looking statements as a result of several factors, including unexpected expenditures and costs, unexpected results or delays in development and regulatory review, regulatory approval requirements, the frequency and severity of adverse events and competitive conditions. These and other factors that may result in differences are discussed in greater detail in the Company’s filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact
Media Inquiries
Lindsay Conner
1-551-206-6217
lconner@plmr.com

Investor Relations
Jamie Lillis
1-203-428-3223
investors@plmr.com
Source: Palomar Holdings, Inc.

Summary of Operating Results:

The following tables summarize the Company’s results for the three months and year ended December 31, 2024 and 2023:

	Three Months Ended
	December 31,
	2024			2023			Change			% Change
	($ in thousands, except per share data)
Gross written premiums	$	373,723		$	303,152		$	70,571			23.3	%
Ceded written premiums		(204,492	)		(188,742	)		(15,750	)		8.3	%
Net written premiums		169,231			114,410			54,821			47.9	%
Net earned premiums		144,890			93,748			51,142			54.6	%
Commission and other income		750			1,586			(836	)		(52.7	)%
Total underwriting revenue ⁽¹⁾		145,640			95,334			50,306			52.8	%
Losses and loss adjustment expenses		37,176			17,896			19,280			107.7	%
Acquisition expenses, net of ceding commissions and fronting fees		40,585			29,005			11,580			39.9	%
Other underwriting expenses		32,947			24,210			8,737			36.1	%
Underwriting income ⁽¹⁾		34,932			24,223			10,709			44.2	%
Interest expense		(87	)		(824	)		737			(89.4	)%
Net investment income		11,318			7,015			4,303			61.3	%
Net realized and unrealized (losses) gains on investments		(1,201	)		3,044			(4,245	)		(139.5	)%
Income before income taxes		44,962			33,458			11,504			34.4	%
Income tax expense		9,997			7,564			2,433			32.2	%
Net income	$	34,965		$	25,894		$	9,071			35.0	%
Adjustments:
Net realized and unrealized losses (gains) on investments		1,201			(3,044	)		4,245			(139.5	)%
Expenses associated with transactions		922			478			444			92.9	%
Stock-based compensation expense		4,779			4,176			603			14.4	%
Amortization of intangibles		389			389			—			—	%
Tax impact		(964	)		103			(1,067	)		NM
Adjusted net income ⁽¹⁾	$	41,292		$	27,996		$	13,296			47.5	%
Key Financial and Operating Metrics
Annualized return on equity		19.5	%		23.2	%
Annualized adjusted return on equity ⁽¹⁾		23.1	%		25.1	%
Loss ratio		25.7	%		19.1	%
Expense ratio		50.2	%		55.1	%
Combined ratio		75.9	%		74.2	%
Adjusted combined ratio ⁽¹⁾		71.7	%		68.8	%
Diluted earnings per share	$	1.29		$	1.02
Diluted adjusted earnings per share ⁽¹⁾	$	1.52		$	1.11
Catastrophe losses	$	8,122		$	10
Catastrophe loss ratio ⁽¹⁾		5.6	%		—	%
Adjusted combined ratio excluding catastrophe losses ⁽¹⁾		66.1	%		68.8	%
Adjusted underwriting income ⁽¹⁾	$	41,022		$	29,266		$	11,756			40.2	%
NM – not meaningful

(1)- Indicates Non-GAAP financial measure- see above for definition of Non-GAAP financial measures and see below for reconciliation of Non-GAAP financial measures to their most directly comparable measures prepared in accordance with GAAP.


	Year Ended
	December 31,
	2024			2023			Change			% Change
	($ in thousands, except per share data)
Gross written premiums	$	1,541,962		$	1,141,558		$	400,404			35.1	%
Ceded written premiums		(897,111	)		(731,531	)		(165,580	)		22.6	%
Net written premiums		644,851			410,027			234,824			57.3	%
Net earned premiums		510,687			345,913			164,774			47.6	%
Commission and other income		2,784			3,367			(583	)		(17.3	)%
Total underwriting revenue ⁽¹⁾		513,471			349,280			164,191			47.0	%
Losses and loss adjustment expenses		134,759			72,592			62,167			85.6	%
Acquisition expenses, net of ceding commissions and fronting fees		149,657			107,745			41,912			38.9	%
Other underwriting expenses		117,113			88,172			28,941			32.8	%
Underwriting income ⁽¹⁾		111,942			80,771			31,171			38.6	%
Interest expense		(1,138	)		(3,775	)		2,637			(69.9	)%
Net investment income		35,824			23,705			12,119			51.1	%
Net realized and unrealized gains on investments		4,568			2,941			1,627			55.3	%
Income before income taxes		151,196			103,642			47,554			45.9	%
Income tax expense		33,623			24,441			9,182			37.6	%
Net income	$	117,573		$	79,201		$	38,372			48.4	%
Adjustments:
Net realized and unrealized gains on investments		(4,568	)		(2,941	)		(1,627	)		55.3	%
Expenses associated with transactions		1,479			706			773			109.5	%
Stock-based compensation expense		16,685			14,913			1,772			11.9	%
Amortization of intangibles		1,558			1,481			77			5.2	%
Expenses associated with catastrophe bond		2,483			1,640			843			51.4	%
Tax impact		(1,699	)		(1,480	)		(219	)		14.8	%
Adjusted net income ⁽¹⁾	$	133,511		$	93,520		$	39,991			42.8	%
Key Financial and Operating Metrics
Annualized return on equity		19.6	%		18.5	%
Annualized adjusted return on equity ⁽¹⁾		22.2	%		21.9	%
Loss ratio		26.4	%		21.0	%
Expense ratio		51.7	%		55.7	%
Combined ratio		78.1	%		76.6	%
Adjusted combined ratio ⁽¹⁾		73.7	%		71.2	%
Diluted earnings per share	$	4.48		$	3.13
Diluted adjusted earnings per share ⁽¹⁾	$	5.09		$	3.69
Catastrophe losses	$	27,846		$	3,442
Catastrophe loss ratio ⁽¹⁾		5.5	%		1.0	%
Adjusted combined ratio excluding catastrophe losses ⁽¹⁾		68.3	%		70.2	%
Adjusted underwriting income ⁽¹⁾	$	134,147		$	99,511		$	34,636			34.8	%

Condensed Consolidated Balance sheets

Palomar Holdings, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (unaudited) (in thousands, except shares and par value data)

	December 31, 2024			December 31, 2023
Assets
Investments:
Fixed maturity securities available for sale, at fair value (amortized cost: $973,330 in 2024; $675,130 in 2023)	$	939,046		$	643,799
Equity securities, at fair value (cost: $32,987 in 2024; $43,003 in 2023)		40,529			43,160
Equity method investment		2,277			2,617
Other investments		5,863			—
Total investments		987,715			689,576
Cash and cash equivalents		80,438			51,546
Restricted cash		101			306
Accrued investment income		8,440			5,282
Premium receivable		305,724			261,972
Deferred policy acquisition costs, net of ceding commissions and fronting fees		94,881			60,990
Reinsurance recoverable on paid losses and loss adjustment expenses		47,076			32,172
Reinsurance recoverable on unpaid losses and loss adjustment expenses		348,083			244,622
Ceded unearned premiums		276,237			265,808
Prepaid expenses and other assets		91,086			72,941
Deferred tax assets, net		8,768			10,119
Property and equipment, net		429			373
Goodwill and intangible assets, net		13,242			12,315
Total assets	$	2,262,220		$	1,708,022
Liabilities and stockholders’ equity
Liabilities:
Accounts payable and other accrued liabilities	$	70,079		$	42,376
Reserve for losses and loss adjustment expenses		503,382			342,275
Unearned premiums		741,692			597,103
Ceded premium payable		190,168			181,742
Funds held under reinsurance treaty		27,869			13,419
Income taxes payable		—			7,255
Borrowings from credit agreements		—			52,600
Total liabilities		1,533,190			1,236,770
Stockholders’ equity:
Preferred stock, $0.0001 par value, 5,000,000 shares authorized as of December 31, 2024 and December 31, 2023, 0 shares issued and outstanding as of December 31, 2024 and December 31, 2023		—			—
Common stock, $0.0001 par value, 500,000,000 shares authorized, 26,529,402 and 24,772,987 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively		3			3
Additional paid-in capital		493,656			350,597
Accumulated other comprehensive loss		(26,845	)		(23,991	)
Retained earnings		262,216			144,643
Total stockholders’ equity		729,030			471,252
Total liabilities and stockholders’ equity	$	2,262,220		$	1,708,022

Condensed Consolidated Income Statement

Palomar Holdings, Inc. and Subsidiaries Condensed Consolidated Statements of Income and Comprehensive Income (loss) (Unaudited) (in thousands, except shares and per share data)

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
Revenues:
Gross written premiums	$	373,723		$	303,152		$	1,541,962		$	1,141,558
Ceded written premiums		(204,492	)		(188,742	)		(897,111	)		(731,531	)
Net written premiums		169,231			114,410			644,851			410,027
Change in unearned premiums		(24,341	)		(20,662	)		(134,164	)		(64,114	)
Net earned premiums		144,890			93,748			510,687			345,913
Net investment income		11,318			7,015			35,824			23,705
Net realized and unrealized (losses) gains on investments		(1,201	)		3,044			4,568			2,941
Commission and other income		750			1,586			2,784			3,367
Total revenues		155,757			105,393			553,863			375,926
Expenses:
Losses and loss adjustment expenses		37,176			17,896			134,759			72,592
Acquisition expenses, net of ceding commissions and fronting fees		40,585			29,005			149,657			107,745
Other underwriting expenses		32,947			24,210			117,113			88,172
Interest expense		87			824			1,138			3,775
Total expenses		110,795			71,935			402,667			272,284
Income before income taxes		44,962			33,458			151,196			103,642
Income tax expense		9,997			7,564			33,623			24,441
Net income	$	34,965		$	25,894		$	117,573		$	79,201
Other comprehensive income, net:
Net unrealized (losses) gains on securities available for sale		(16,707	)		19,229			(2,854	)		12,524
Net comprehensive income	$	18,258		$	45,123		$	114,719		$	91,725
Per Share Data:
Basic earnings per share	$	1.32		$	1.05		$	4.61		$	3.19
Diluted earnings per share	$	1.29		$	1.02		$	4.48		$	3.13

Weighted-average common shares outstanding:
Basic		26,491,939			24,747,347			25,520,343			24,822,004
Diluted		27,206,225			25,272,149			26,223,842			25,327,091

Underwriting Segment Data

The Company has a single reportable segment and offers specialty insurance products. Gross written premiums (GWP) by product, location and company are presented below:

	Three Months Ended December 31,
	2024					2023
	($ in thousands)
			% of						% of						%
	Amount		GWP			Amount			GWP			Change			Change
Product (1)
Earthquake	$	146,757		39.3	%	$	122,087			40.3	%	$	24,670			20.2	%
Inland Marine and other Property		85,396		22.9	%		63,039			20.8	%		22,357			35.5	%
Casualty		68,484		18.3	%		32,323			10.7	%		36,161			111.9	%
Fronting		57,418		15.4	%		85,708			28.3	%		(28,290	)		(33.0	)%
Crop		15,668		4.2	%		(5	)		(0.0	)%		15,673			NM
Total Gross Written Premiums	$	373,723		100.0	%	$	303,152			100.0	%	$	70,571			23.3	%

NM- Not meaningful

	Year Ended December 31,
	2024					2023
	($ in thousands)
			% of					% of						%
	Amount		GWP			Amount		GWP			Change			Change
Product (1)
Earthquake	$	522,864		33.9	%	$	436,896		38.3	%	$	85,968			19.7	%
Inland Marine and Other Property		334,079		21.7	%		250,023		21.9	%		84,056			33.6	%
Fronting		333,188		21.6	%		352,141		30.8	%		(18,953	)		(5.4	)%
Casualty		235,592		15.3	%		90,388		7.9	%		145,204			160.6	%
Crop		116,239		7.5	%		12,110		1.1	%		104,129			859.9	%
Total Gross Written Premiums	$	1,541,962		100.0	%	$	1,141,558		100.0	%	$	400,404			35.1	%

(1) – Beginning in 2024, the Company has updated the categorization of its products to align with management’s current strategy and view of the business. Prior year amounts have been reclassified for comparability purposes. The recategorization is for presentation purposes only and does not impact overall gross written premiums.

	Three Months Ended December 31,										Year Ended December 31,
	2024					2023					2024					2023
	($ in thousands)										($ in thousands)
			% of					% of					% of					% of
	Amount		GWP			Amount		GWP			Amount		GWP			Amount		GWP
State
California	$	157,786		42.2	%	$	165,342		54.5	%	$	668,635		43.4	%	$	600,791		52.6	%
Texas		28,002		7.5	%		22,740		7.5	%		124,416		8.1	%		95,517		8.4	%
Hawaii		18,636		5.0	%		11,562		3.8	%		72,558		4.7	%		47,388		4.2	%
Washington		16,007		4.3	%		14,124		4.7	%		57,900		3.8	%		49,494		4.3	%
New York		14,756		3.9	%		6,775		2.2	%		38,919		2.5	%		18,424		1.6	%
Florida		8,855		2.4	%		11,286		3.7	%		67,008		4.3	%		47,595		4.2	%
Oregon		8,298		2.2	%		6,307		2.1	%		29,550		1.9	%		23,220		2.0	%
Illinois		7,176		1.9	%		6,697		2.2	%		20,901		1.4	%		22,340		2.0	%
Other		114,207		30.6	%		58,319		19.2	%		462,075		30.0	%		236,789		20.7	%
Total Gross Written Premiums	$	373,723		100.0	%	$	303,152		100.0	%	$	1,541,962		100.0	%	$	1,141,558		100.0	%

	Three Months Ended December 31,										Year Ended December 31,
	2024					2023					2024					2023
	($ in thousands)										($ in thousands)
			% of					% of					% of					% of
	Amount		GWP			Amount		GWP			Amount		GWP			Amount		GWP
Subsidiary
PSIC	$	170,275		45.6	%	$	156,590		51.7	%	$	823,263		53.4	%	$	653,809		57.3	%
PESIC		188,496		50.4	%		146,562		48.3	%		661,404		42.9	%		487,749		42.7	%
Laulima		14,952		4.0	%		—		—	%		57,295		3.7	%		—		—	%
Total Gross Written Premiums	$	373,723		100.0	%	$	303,152		100.0	%	$	1,541,962		100.0	%	$	1,141,558		100.0	%

Gross and net earned premiums

The table below shows the amount of premiums the Company earned on a gross and net basis and the Company’s net earned premiums as a percentage of gross earned premiums for each period presented:

	Three Months Ended												Year Ended
	December 31,												December 31,
	2024			2023			Change			% Change			2024			2023			Change			% Change
	($ in thousands)												($ in thousands)
Gross earned premiums	$	371,654		$	276,502		$	95,152			34.4	%	$	1,397,369		$	1,015,722		$	381,647			37.6	%
Ceded earned premiums		(226,764	)		(182,754	)		(44,010	)		24.1	%		(886,682	)		(669,809	)		(216,873	)		32.4	%
Net earned premiums	$	144,890		$	93,748		$	51,142			54.6	%	$	510,687		$	345,913		$	164,774			47.6	%

Net earned premium ratio		39.0	%		33.9	%								36.5	%		34.1	%

Loss detail

	Three Months Ended											Year Ended
	December 31,											December 31,
	2024			2023			Change		% Change			2024			2023			Change		% Change
	($ in thousands)											($ in thousands)
Catastrophe losses	$	8,122		$	10		$	8,112		NM		$	27,846		$	3,442		$	24,404		NM
Non-catastrophe losses		29,054			17,886			11,168		62.4	%		106,913			69,150			37,763		54.6	%
Total losses and loss adjustment expenses	$	37,176		$	17,896		$	19,280		107.7	%	$	134,759		$	72,592		$	62,167		85.6	%

Catastrophe loss ratio		5.6	%		0.0	%							5.5	%		1.0	%
Non-catastrophe loss ratio		20.1	%		19.1	%							20.9	%		20.0	%
Total loss ratio		25.7	%		19.1	%							26.4	%		21.0	%
NM-Not meaningful

The following table represents a reconciliation of changes in the ending reserve balances for losses and loss adjustment expenses:

	Three Months Ended December 31,						Year Ended December 31,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Reserve for losses and LAE net of reinsurance recoverables at beginning of period	$	137,274		$	92,178		$	97,653		$	77,520
Add: Incurred losses and LAE, net of reinsurance, related to:
Current year		37,575			19,409			137,798			70,363
Prior years		(399	)		(1,513	)		(3,039	)		2,229
Total incurred		37,176			17,896			134,759			72,592
Deduct: Loss and LAE payments, net of reinsurance, related to:
Current year		15,675			5,417			43,582			19,631
Prior years		3,476			7,004			33,531			32,828
Total payments		19,151			12,421			77,113			52,459
Reserve for losses and LAE net of reinsurance recoverables at end of period		155,299			97,653			155,299			97,653
Add: Reinsurance recoverables on unpaid losses and LAE at end of period		348,083			244,622			348,083			244,622
Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE at end of period	$	503,382		$	342,275		$	503,382		$	342,275

Reconciliation of Non-GAAP Financial Measures

For the three months and year ended December 31, 2024 and 2023, the Non-GAAP financial measures discussed above reconcile to their most comparable GAAP measures as follows:

Underwriting revenue

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Total revenue	$	155,757		$	105,393		$	553,863		$	375,926
Net investment income		(11,318	)		(7,015	)		(35,824	)		(23,705	)
Net realized and unrealized (gains) losses on investments		1,201			(3,044	)		(4,568	)		(2,941	)
Underwriting revenue	$	145,640		$	95,334		$	513,471		$	349,280

Underwriting income and adjusted underwriting income

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Income before income taxes	$	44,962		$	33,458		$	151,196		$	103,642
Net investment income		(11,318	)		(7,015	)		(35,824	)		(23,705	)
Net realized and unrealized losses (gains) on investments		1,201			(3,044	)		(4,568	)		(2,941	)
Interest expense		87			824			1,138			3,775
Underwriting income	$	34,932		$	24,223		$	111,942		$	80,771
Expenses associated with transactions		922			478			1,479			706
Stock-based compensation expense		4,779			4,176			16,685			14,913
Amortization of intangibles		389			389			1,558			1,481
Expenses associated with catastrophe bond		—			—			2,483			1,640
Adjusted underwriting income	$	41,022		$	29,266		$	134,147		$	99,511

Adjusted net income

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Net income	$	34,965		$	25,894		$	117,573		$	79,201
Adjustments:
Net realized and unrealized losses (gains) on investments		1,201			(3,044	)		(4,568	)		(2,941	)
Expenses associated with transactions		922			478			1,479			706
Stock-based compensation expense		4,779			4,176			16,685			14,913
Amortization of intangibles		389			389			1,558			1,481
Expenses associated with catastrophe bond		—			—			2,483			1,640
Tax impact		(964	)		103			(1,699	)		(1,480	)
Adjusted net income	$	41,292		$	27,996		$	133,511		$	93,520

Annualized adjusted return on equity

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
	(in thousands)						(in thousands)

Annualized adjusted net income	$	165,168		$	111,984		$	133,511		$	93,520
Average stockholders’ equity	$	716,171		$	446,293		$	600,140		$	428,002
Annualized adjusted return on equity		23.1	%		25.1	%		22.2	%		21.9	%

Adjusted combined ratio

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Numerator: Sum of losses and loss adjustment expenses, acquisition expenses, and other underwriting expenses, net of commission and other income	$	109,958		$	69,525		$	398,745		$	265,142
Denominator: Net earned premiums	$	144,890		$	93,748		$	510,687		$	345,913
Combined ratio		75.9	%		74.2	%		78.1	%		76.6	%
Adjustments to numerator:
Expenses associated with transactions	$	(922	)	$	(478	)	$	(1,479	)	$	(706	)
Stock-based compensation expense		(4,779	)		(4,176	)		(16,685	)		(14,913	)
Amortization of intangibles		(389	)		(389	)		(1,558	)		(1,481	)
Expenses associated with catastrophe bond		—			—			(2,483	)		(1,640	)
Adjusted combined ratio		71.7	%		68.8	%		73.7	%		71.2	%

Diluted adjusted earnings per share

	Three Months Ended				Year Ended
	December 31,				December 31,
	2024		2023		2024		2023
	(in thousands, except per share data)				(in thousands, except per share data)

Adjusted net income	$	41,292	$	27,996	$	133,511	$	93,520
Weighted-average common shares outstanding, diluted		27,206,225		25,272,149		26,223,842		25,327,091
Diluted adjusted earnings per share	$	1.52	$	1.11	$	5.09	$	3.69

Catastrophe loss ratio

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Numerator: Losses and loss adjustment expenses	$	37,176		$	17,896		$	134,759		$	72,592
Denominator: Net earned premiums	$	144,890		$	93,748		$	510,687		$	345,913
Loss ratio		25.7	%		19.1	%		26.4	%		21.0	%

Numerator: Catastrophe losses	$	8,122		$	10		$	27,846		$	3,442
Denominator: Net earned premiums	$	144,890		$	93,748		$	510,687		$	345,913
Catastrophe loss ratio		5.6	%		0.0	%		5.5	%		1.0	%

Adjusted combined ratio excluding catastrophe losses

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Numerator: Sum of losses and loss adjustment expenses, acquisition expenses, and other underwriting expenses, net of commission and other income	$	109,958		$	69,525		$	398,745		$	265,142
Denominator: Net earned premiums	$	144,890		$	93,748		$	510,687		$	345,913
Combined ratio		75.9	%		74.2	%		78.1	%		76.6	%
Adjustments to numerator:
Expenses associated with transactions	$	(922	)	$	(478	)	$	(1,479	)	$	(706	)
Stock-based compensation expense		(4,779	)		(4,176	)		(16,685	)		(14,913	)
Amortization of intangibles		(389	)		(389	)		(1,558	)		(1,481	)
Expenses associated with catastrophe bond		—			—			(2,483	)		(1,640	)
Catastrophe losses		(8,122	)		(10	)		(27,846	)		(3,442	)
Adjusted combined ratio excluding catastrophe losses		66.1	%		68.8	%		68.3	%		70.2	%

Tangible Stockholders’ equity

	December 31,			December 31,
	2024			2023
	(in thousands)
Stockholders’ equity	$	729,030		$	471,252
Goodwill and intangible assets		(13,242	)		(12,315	)
Tangible stockholders’ equity	$	715,788		$	458,937

The MIL Network –

February 13, 2025

MIL-OSI: Birchcliff Energy Ltd. Announces Unaudited 2024 Full-Year and Fourth Quarter Results and 2024 Reserves Highlights

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, Feb. 12, 2025 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its unaudited 2024 full-year and fourth quarter financial and operational results and highlights from its independent reserves evaluation effective December 31, 2024.

“Due to the success of our 2024 capital program and driven by our improved capital efficiencies, we delivered annual average production of 76,695 boe/d and adjusted funds flow⁽¹⁾ of $236.8 million and returned $107.8 million to shareholders through common share dividends in 2024,” commented Chris Carlsen, President and Chief Executive Officer of Birchcliff. “The 27 wells we brought on production as part of the 2024 capital program delivered strong PDP reserves additions of 34.1 MMboe, which highlights the quality of our assets. We believe that there is significant intrinsic shareholder value embedded in Birchcliff’s asset base that is not reflected in our current share price, as demonstrated by our PDP reserves net asset value per common share⁽²⁾ of $6.35 and $13.79 and $18.09 for our proved and proved plus probable reserves, respectively.⁽³⁾ In addition, our Elmworth asset, which is largely unbooked from a reserves basis, provides us with significant inventory and a large potential future development area consisting of approximately 145 net sections of Montney lands.”

“Our strategy for 2025 builds off of the operational momentum from 2024, maintaining our focus on capital efficiency improvements and further driving down costs. Our 2025 capital program has been designed to ensure that our capital is strategically deployed throughout the year, providing us with the flexibility to adjust our capital spending if necessary in response to the commodity price volatility we expect during 2025, including as a result of the potential for U.S. and Canadian tariffs and the start-up of LNG Canada.”

2024 Financial and Operational Highlights

Delivered annual average production of 76,695 boe/d (82% natural gas and 18% liquids) in 2024 and quarterly average production of 77,623 boe/d (82% natural gas and 18% liquids) in Q4 2024.
Generated annual adjusted funds flow of $236.8 million in 2024 and quarterly adjusted funds flow of $71.8 million in Q4 2024. Cash flow from operating activities was $203.7 million in 2024 and $45.6 million in Q4 2024.
Reported annual net income to common shareholders of $56.1 million in 2024 and quarterly net income to common shareholders of $35.2 million in Q4 2024.
F&D capital expenditures were $273.1 million in 2024 and $58.3 million in Q4 2024. Birchcliff drilled 29 (29.0 net) wells and brought 27 (27.0 net) wells on production in 2024.
Returned $107.8 million to shareholders in 2024 through common share dividends.

2024 Reserves Highlights⁽⁴⁾

Birchcliff brought 27 new wells on production as part of its 2024 F&D capital program with strong PDP reserves additions of 34.1 MMboe (1.26 MMboe per well) and delivered PDP F&D costs⁽⁵⁾ of $8.01/boe, resulting in a PDP F&D operating netback recycle ratio⁽²⁾ of 1.4x in 2024 on such additions.
Birchcliff added an aggregate of 23.7 MMboe of PDP reserves on an F&D basis in 2024, after adding back 2024 actual production of 28.1 MMboe⁽⁶⁾ and including all other applicable PDP reserves adjustments in 2024. Birchcliff’s PDP reserves totalled 217.1 MMboe at December 31, 2024.
Birchcliff delivered PDP F&D costs of $11.52/boe and a PDP F&D operating netback recycle ratio of 1.0x on its aggregate 23.7 MMboe of PDP reserves additions, notwithstanding $18.8 million in F&D capital expenditures spent on strategic priorities in Elmworth for which there was no production or reserves assigned at year-end 2024.
At December 31, 2024, the net present value of future net revenue (before income taxes, discounted at 10%) was $2.3 billion for Birchcliff’s PDP reserves, $4.4 billion for its proved reserves and $5.6 billion for its proved plus probable reserves.
The net asset value per common share of Birchcliff’s PDP, proved and proved plus probable reserves at December 31, 2024 was $6.35, $13.79 and $18.09, respectively, which is 9%, 136% and 210% higher than the closing price of its common shares on the TSX on February 10, 2025 of $5.84.
Reserves life index⁽⁵⁾ at December 31, 2024 of 7.7 years on a PDP basis, 23.6 years on a proved basis and 34.3 years on a proved plus probable basis.

Birchcliff anticipates filing its annual information form and audited financial statements and related management’s discussion and analysis for the year ended December 31, 2024 on March 12, 2025.

^{This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. For further information regarding the forward-looking statements and forward-looking information contained herein, see “Advisories – Forward-Looking Statements”. With respect to the disclosure of Birchcliff’s reserves and related reserves metrics contained in this press release, see “2024 Year-End Reserves”, “Presentation of Oil and Gas Reserves” and “Advisories – Oil and Gas Metrics”. With respect to the disclosure of Birchcliff’s production contained in this press release, unless otherwise stated herein, production volumes have been disclosed on a “gross” basis as such term is defined in National Instrument 51-101– Standards of Disclosure for Oil and Gas Activities (“NI 51-101”). For further information regarding the disclosure of Birchcliff’s production contained herein, see “Advisories – Production”. In addition, this press release uses various “non-GAAP financial measures”, “non-GAAP ratios” and “capital management measures” as such terms are defined in National Instrument 52-112 – Non-GAAP and Other Financial Measures Disclosure (“NI 52-112”). Non-GAAP financial measures and non-GAAP ratios are not standardized financial measures under GAAP and might not be comparable to similar financial measures disclosed by other issuers. For further information regarding the non-GAAP and other financial measures used in this press release, see “Non-GAAP and Other Financial Measures”.}

______________________________

^{(1) Non-GAAP financial measure. See “Non-GAAP and Other Financial Measures”.}

^{(2) Non-GAAP ratio. See “Non-GAAP and Other Financial Measures”.}

^{(3) Net asset value per common share is at December 31, 2024 and before income taxes (discounted at 10%). See “2024 Year-End Reserves – Net Asset Value”.}

^{(4) Deloitte LLP (“Deloitte”) prepared an independent evaluation of the Corporation’s reserves effective December 31, 2024 as contained in their report dated February 12, 2025 (the “Deloitte Report”). The forecast commodity prices, inflation and exchange rates utilized in the Deloitte Report were computed using the average of forecasts from Deloitte, McDaniel & Associates Consultants Ltd. (“McDaniel”), GLJ Ltd. (“GLJ”) and Sproule Associates Limited (“Sproule”) effective January 1, 2025 (the “2024 Price Forecast”). See “2024 Year-End Reserves” and “Presentation of Oil and Gas Reserves”.}

^{(5) See “Advisories – Oil and Gas Metrics”.}

^{(6) Consists of 738.2 Mbbls of light oil, 1,619.6 Mbbls of condensate, 2,591.3 Mbbls of NGLs and 138,728.6 MMcf of natural gas.}

2024 UNAUDITED FINANCIAL AND OPERATIONAL SUMMARY

	Three months ended December 31,				Twelve months ended December 31,
	2024		2023		2024		2023
OPERATING
Average production
Light oil (bbls/d)	1,993		1,649		2,017		1,849
Condensate (bbls/d)	4,310		5,145		4,425		5,202
NGLs (bbls/d)	7,748		7,653		7,080		6,306
Natural gas (Mcf/d)	381,433		372,594		379,040		374,052
Total (boe/d)	77,623		76,546		76,695		75,699
Average realized sales prices (CDN$)⁽¹⁾
Light oil (per bbl)	95.18		100.07		98.90		99.07
Condensate (per bbl)	95.79		103.80		99.66		103.76
NGLs (per bbl)	26.20		26.95		26.37		26.92
Natural gas (per Mcf)	2.27		2.92		2.05		3.03
Total (per boe)	21.53		26.02		20.90		26.79

NETBACK AND COST ($/boe)
Petroleum and natural gas revenue⁽¹⁾	21.53		26.03		20.91		26.80
Royalty expense	(1.26	)	(2.75	)	(1.41	)	(2.54	)
Operating expense	(2.91	)	(3.81	)	(3.24	)	(3.83	)
Transportation and other expense⁽²⁾	(5.26	)	(5.53	)	(5.24	)	(5.69	)
Operating netback⁽²⁾	12.10		13.94		11.02		14.74
G&A expense, net	(2.00	)	(1.80	)	(1.45	)	(1.52	)
Interest expense	(1.40	)	(0.95	)	(1.31	)	(0.74	)
Lease interest expense	(0.33	)	–		(0.16	)	–
Realized gain (loss) on financial instruments	1.68		(0.38	)	0.33		(1.35	)
Other cash income (expense)	0.01		0.01		0.01		(0.03	)
Adjusted funds flow⁽²⁾	10.06		10.82		8.44		11.10
Depletion and depreciation expense	(8.96	)	(8.44	)	(8.79	)	(8.20	)
Unrealized gain (loss) on financial instruments	5.95		(1.58	)	3.51		(1.38	)
Other expenses⁽³⁾	(0.75	)	(1.88	)	(0.52	)	(0.95	)
Deferred income tax (expense) recovery	(1.37	)	0.29		(0.64	)	(0.22	)
Net income (loss) to common shareholders	4.93		(0.79	)	2.00		0.35

FINANCIAL
Petroleum and natural gas revenue ($000s)⁽¹⁾	153,741		183,295		586,856		740,359
Cash flow from operating activities ($000s)	45,641		79,006		203,710		320,529
Adjusted funds flow ($000s)⁽⁴⁾	71,838		76,215		236,794		306,827
Per basic common share ($)⁽²⁾	0.27		0.29		0.88		1.15
Free funds flow ($000s)⁽⁴⁾	13,528		18,049		(36,290	)	2,190
Per basic common share ($)⁽²⁾	0.05		0.07		(0.13	)	0.01
Net income (loss) to common shareholders ($000s)	35,216		(5,533	)	56,100		9,780
Per basic common share ($)	0.13		(0.02	)	0.21		0.04
End of period basic common shares (000s)	271,304		267,156		271,304		267,156
Weighted average basic common shares (000s)	270,185		266,667		269,081		266,465
Dividends on common shares ($000s)	27,126		53,390		107,833		213,344
F&D capital expenditures ($000s)⁽⁵⁾	58,310		58,166		273,084		304,637
Total capital expenditures ($000s)⁽⁴⁾	66,673		59,541		282,745		307,916
Revolving term credit facilities ($000s)	566,857		372,097		566,857		372,097
Total debt ($000s)⁽⁶⁾	535,557		382,306		535,557		382,306

^{(1) Excludes the effects of financial instruments but includes the effects of any physical delivery contracts.}

^{(2) Non-GAAP ratio. See “Non-GAAP and Other Financial Measures”.}

^{(3) Includes non-cash items such as compensation, accretion, amortization of deferred financing fees and other gains and losses.}

^{(4) Non-GAAP financial measure. See “Non-GAAP and Other Financial Measures”.}

^{(5) See “Advisories – F&D Capital Expenditures”.}

^{(6) Capital management measure. See “Non-GAAP and Other Financial Measures”.}

FULL-YEAR AND Q4 2024 UNAUDITED FINANCIAL AND OPERATIONAL RESULTS

Production

Birchcliff’s production averaged 76,695 boe/d in 2024, a 1% increase from 2023. Production averaged 77,623 boe/d in Q4 2024, a 1% increase from Q4 2023. Birchcliff’s annual average production for 2024 was at the high-end of its guidance range of 75,000 to 77,000 boe/d.
The increases were primarily due to the strong performance of the Corporation’s capital program and the successful drilling of new Montney/Doig wells brought on production, partially offset by natural production declines. Full-year production in 2023 was negatively impacted by an unplanned system outage on Pembina’s Northern Pipeline system, which reduced the Corporation’s NGLs sales volumes in 2023.
Liquids accounted for 18% of Birchcliff’s total production in both 2024 and 2023, which was in line with Birchcliff’s guidance of 19%. Liquids accounted for 18% of Birchcliff’s total production in Q4 2024 as compared to 19% in Q4 2023.

Adjusted Funds Flow and Cash Flow From Operating Activities

Birchcliff generated adjusted funds flow of $236.8 million in 2024, or $0.88 per basic common share, both of which decreased by 23% from 2023. Adjusted funds flow was $71.8 million in Q4 2024, or $0.27 per basic common share, a 6% and 7% decrease from Q4 2023, respectively. Birchcliff’s full-year adjusted funds flow in 2024 was higher than its guidance of $230 million primarily due to lower than expected royalty and G&A expenses.
Birchcliff’s cash flow from operating activities was $203.7 million in 2024, a 36% decrease from 2023. Cash flow from operating activities was $45.6 million in Q4 2024, a 42% decrease from Q4 2023.
The decreases in adjusted funds flow and cash flow from operating activities were primarily due to lower natural gas revenue, which was largely the result of a 32% and 22% decrease in the average realized sales price Birchcliff received for its natural gas production in the full-year and Q4 2024, respectively, as compared to 2023, and higher interest expenses. Birchcliff’s adjusted funds flow and cash flow from operating activities were positively impacted by lower royalty expenses and realized gains on financial instruments of $9.3 million and $12.0 million in the full-year and Q4 2024, respectively, as compared to realized losses on financial instruments of $37.3 million and $2.6 million in 2023.

Net Income (Loss) to Common Shareholders

Birchcliff earned net income to common shareholders of $56.1 million in 2024, or $0.21 per basic common share, as compared to $9.8 million and $0.04 per basic common share in 2023. The increases were primarily due to an unrealized mark-to-market gain on financial instruments of $98.6 million in 2024 as compared to an unrealized mark-to-market loss on financial instruments of $38.2 million in 2023, partially offset by lower adjusted funds flow in 2024.
Birchcliff earned net income to common shareholders of $35.2 million in Q4 2024, or $0.13 per basic common share, as compared to a net loss to common shareholders of $5.5 million and $0.02 per basic common share in Q4 2023. The change to a net income position was primarily due to an unrealized mark-to-market gain on financial instruments of $42.5 million in Q4 2024 as compared to an unrealized mark-to-market loss on financial instruments of $11.1 million in Q4 2023.

Debt and Credit Facilities

Total debt at December 31, 2024 was $535.6 million, a 40% increase from December 31, 2023. Birchcliff’s 2024 year-end total debt was at the high-end of its guidance range of $515 million to $535 million.
At December 31, 2024, Birchcliff had a balance outstanding under its extendible revolving credit facilities (the “Credit Facilities”) of $570.9 million (December 31, 2023: $374.1 million) from available Credit Facilities of $850.0 million (December 31, 2023: $850.0 million), leaving the Corporation with $279.1 million (33%) of unutilized credit capacity after adjusting for outstanding letters of credit and unamortized deferred financing fees. This unutilized credit capacity provides Birchcliff with significant financial flexibility and available capital resources. The Credit Facilities have a maturity date of May 11, 2027 and do not contain any financial maintenance covenants.

Marketing and Natural Gas Market Diversification

Birchcliff’s physical natural gas sales exposure primarily consists of the AECO, Dawn and Alliance markets. In addition, the Corporation has various financial instruments outstanding that provide it with exposure to NYMEX HH pricing.

The following table sets forth Birchcliff’s effective sales, production and average realized sales price for natural gas and liquids for Q4 2024, after taking into account the Corporation’s financial instruments:

Three months ended December 31, 2024
	Effective sales (CDN$000s)	Percentage of total sales (%)	Effective production (per day)	Percentage of total natural gas production (%)	Percentage of total corporate production (%)	Effective average realized sales price (CDN$)
Market
AECO⁽¹⁾⁽²⁾	11,831	6	82,345 Mcf	21	18	1.56/Mcf
Dawn⁽³⁾	48,281	26	162,555 Mcf	43	35	3.23/Mcf
NYMEX HH⁽¹⁾⁽⁴⁾	53,015	28	136,533 Mcf	36	29	4.22/Mcf
Total natural gas⁽¹⁾	113,127	60	381,433 Mcf	100	82	3.22/Mcf
Light oil	17,450	10	1,993 bbls		3	95.18/bbl
Condensate	37,985	20	4,310 bbls		5	95.79/bbl
NGLs	18,679	10	7,748 bbls		10	26.20/bbl
Total liquids	74,114	40	14,051 bbls		18	57.33/bbl
Total corporate⁽¹⁾	187,241	100	77,623 boe		100	26.22/boe

^{(1) Effective sales and effective average realized sales price on a total natural gas and total corporate basis and for the AECO and NYMEX HH markets are non-GAAP financial measures and non-GAAP ratios, respectively. See “Non-GAAP and Other Financial Measures”.}

^{(2) Birchcliff has short-term physical sales agreements with third-party marketers to sell and deliver into the Alliance pipeline system. All of Birchcliff’s short-term physical Alliance sales and production during Q4 2024 received AECO premium pricing and have therefore been included as effective sales and production in the AECO market.}

^{(3) Birchcliff has agreements for the firm service transportation of an aggregate of 175,000 GJ/d of natural gas on TransCanada PipeLines’ Canadian Mainline, whereby natural gas is transported to the Dawn trading hub in Southern Ontario.}

^{(4) NYMEX HH effective sales and production include financial NYMEX HH/AECO 7A basis swap contracts for an aggregate of 147,500 MMBtu/d at an average contract price of NYMEX HH less US$1.12/MMBtu during Q4 2024.
Birchcliff’s effective average realized sales price for NYMEX HH of CDN$4.22/Mcf (US$2.76/MMBtu) was determined on a gross basis before giving effect to the average NYMEX HH/AECO 7A fixed contract basis differential price of CDN$1.71/Mcf (US$1.12/MMBtu) and includes any realized gains and losses on financial NYMEX HH/AECO 7A basis swap contracts during Q4 2024.
After giving effect to the NYMEX HH/AECO 7A fixed contract basis differential price and including any realized gains and losses on financial NYMEX HH/AECO 7A basis swap contracts during Q4 2024, Birchcliff’s effective average realized net sales price for NYMEX HH was CDN$2.51/Mcf (US$1.64/MMBtu) in Q4 2024.}

The following table sets forth Birchcliff’s physical sales, production, average realized sales price, transportation costs and natural gas sales netback by natural gas market for the periods indicated, before taking into account the Corporation’s financial instruments:

Three months ended December 31, 2024
Natural gas market	Natural gas sales⁽¹⁾ (CDN$000s)	Percentage of natural gas sales (%)	Natural gas production (Mcf/d)	Percentage of natural gas production (%)	Average realized natural gas sales price⁽¹⁾ (CDN$/Mcf)	Natural gas transportation costs⁽²⁾ (CDN$/Mcf)	Natural gas sales netback⁽³⁾ (CDN$/Mcf)
AECO	31,027	39	216,321	57	1.57	0.38	1.19
Dawn	48,281	60	162,555	42	3.23	1.43	1.80
Alliance⁽⁴⁾	307	1	2,557	1	1.30	–	1.30
Total	79,615	100	381,433	100	2.27	0.83	1.44
Three months ended December 31, 2023
Natural gas market	Natural gas sales⁽¹⁾ (CDN$000s)	Percentage of natural gas sales (%)	Natural gas production (Mcf/d)	Percentage of natural gas production (%)	Average realized natural gas sales price⁽¹⁾ (CDN$/Mcf)	Natural gas transportation costs⁽²⁾ (CDN$/Mcf)	Natural gas sales netback⁽³⁾ (CDN$/Mcf)
AECO	50,508	51	203,024	55	2.72	0.38	2.33
Dawn	47,433	47	161,119	43	3.20	1.42	1.78
Alliance⁽⁴⁾	2,016	2	8,451	2	2.59	–	2.59
Total	99,957	100	372,594	100	2.92	0.83	2.09

^{(1) Excludes the effects of financial instruments but includes the effects of any physical delivery contracts.}

^{(2) Reflects costs to transport natural gas from the field receipt point to the delivery sales trading hub.}

^{(3) Natural gas sales netback denotes the average realized natural gas sales price less natural gas transportation costs.}

^{(4) Birchcliff has short-term physical sales agreements with third-party marketers to sell and deliver into the Alliance pipeline system. Alliance sales are recorded net of transportation tolls.}

Capital Activities and Investment

F&D capital expenditures were $273.1 million in 2024, as compared to Birchcliff’s guidance of $250 million to $270 million.
In 2024, the Corporation achieved a significant year-over-year improvement in capital efficiency⁽⁷⁾ for its wells of approximately 24% compared to 2023. The following table sets forth the wells that were drilled and brought on production in 2024:

			Number of wells drilled in 2024⁽¹⁾	Number of wells brought on production in 2024
Pouce Coupe

	04-30 (5-well pad)	Montney D1	0⁽²⁾	5

	16-17 (5-well pad)	BD/UM	1	1
		Montney D1	3	3
		Montney D4	1	1

	16-15 (6-well pad)	Montney D1	6	6

	10-22 (5-well pad)	Montney D1	5	5

	04-05 (5-well pad)	Montney D1	5	0⁽³⁾

Gordondale

	02-27 (2-well pad)	Montney D1	1	1
		Montney D2	1	1

	01-10 (4-well pad)	Montney D1	4	4

Elmworth

	13-09 vertical	Montney	1	0

	01-28 horizontal	Montney	1	0

TOTAL			29	27

^{(1) All wells are natural gas wells, except for the 4-well 01-10 pad, which are light oil wells.}

^{(2) The five wells drilled on the 04-30 pad were drilled in December 2023.}

^{(3) The five wells drilled on the 04-05 pad are scheduled to come on production later in February 2025.}

^{______________________________}

^{(7) See “Advisories – Oil and Gas Metrics”.}

UPDATE ON 2025 CAPITAL PROGRAM

As disclosed in Birchcliff’s press release dated January 22, 2025, the Corporation’s board of directors (the “Board”) approved a disciplined F&D capital budget of $260 million to $300 million for 2025. Benefitting from the learnings gained from the Corporation’s 2024 capital program, the wells in Birchcliff’s 2025 capital program are expected to yield strong production, using the Corporation’s latest field development practices and wellbore design, which incorporates longer lateral lengths, reduced cluster spacing and increased proppant loading where appropriate.
The Corporation successfully completed drilling its 5-well 04-05 pad in Pouce Coupe in December 2024. Completions operations are currently underway on the pad, with the wells scheduled to come on production later in February 2025. The pad was drilled in the Lower Montney targeting high-rate natural gas wells.
The Corporation is currently drilling its 3-well 07-10 pad in Pouce Coupe. The pad is targeting condensate-rich natural gas wells in the Lower Montney. The wells are anticipated to be brought on production at the end of Q1 2025.
The Corporation successfully completed drilling its 4-well 02-27 pad in Gordondale in February 2025, with completions operations scheduled to begin in March 2025. The pad is targeting condensate-rich natural gas wells in the Lower Montney. The wells are anticipated to be brought on production in early Q2 2025.
In Elmworth, the Corporation completed a horizontal land retention well and has commenced a short clean-up test. As disclosed in the Corporation’s press release on January 22, 2025, this well is not currently planned to be tied in.

U.S. AND CANADIAN TARIFFS

While Birchcliff hopes that there will not be a trade dispute between the United States and Canada, the Corporation believes that Canada’s over-reliance on exporting its energy into the U.S. must be addressed through the reduction of red tape and government interference in the construction of critical infrastructure such as oil and gas pipelines to the east and west coasts of Canada, LNG terminals on each coast and an increase in refining capacity within Canada, in order to diversify Canada’s energy export market. The Corporation continues to actively monitor this situation.
Birchcliff believes that its ongoing strategy of maintaining significant natural gas market diversification for 2025 will continue to protect the Corporation from volatility in the North American natural gas pricing environment, including as it relates to potential tariffs. Approximately 41% of Birchcliff’s natural gas production is physically delivered to the Dawn trading hub in Ontario, which is priced in U.S. dollars, and the Corporation also has U.S. denominated financial contracts that expose approximately 35% of its natural gas production to NYMEX HH pricing on a financial basis, without physical delivery into the United States.

2024 YEAR-END RESERVES

The reserves data set forth below at December 31, 2024 is based upon the Deloitte Report, which has been prepared in accordance with the standards contained in the Canadian Oil and Gas Evaluation Handbook (the “COGE Handbook”) and NI 51-101.

The reserves data provided in this press release presents only a portion of the disclosure required under NI 51-101. The disclosure required under NI 51-101 will be contained in Birchcliff’s annual information form for the year ended December 31, 2024, which is expected to be filed on SEDAR+ (www.sedarplus.ca) on March 12, 2025.

In some of the tables below, numbers may not add due to rounding. The estimates of future net revenue contained herein do not represent fair market value. For additional information regarding the presentation of Birchcliff’s reserves disclosure contained herein, see “Presentation of Oil and Gas Reserves” and “Advisories” in this press release.

Reserves Summary

The following table summarizes the estimates of Birchcliff’s gross reserves at December 31, 2024 and December 31, 2023, estimated using the forecast price and cost assumptions in effect as at the effective date of the applicable reserves evaluation:

Reserves Category	December 31, 2024 (Mboe)	December 31, 2023⁽¹⁾ (Mboe)	% Change
Proved Developed Producing	217,076	220,536	(2)
Total Proved	667,390	691,886	(4)
Total Proved Plus Probable	969,636	993,897	(2)

^{(1) Deloitte prepared an independent evaluation of the Corporation’s reserves effective December 31, 2023 as contained in their report dated February 14, 2024 (the “2023 Deloitte Report”). The forecast commodity prices, inflation and exchange rates utilized in the 2023 Deloitte Report were computed using the average of forecasts from Deloitte, McDaniel, GLJ and Sproule effective January 1, 2024 (the “2023 Price Forecast”).}

The following table sets forth Birchcliff’s light crude oil and medium crude oil, conventional natural gas, shale gas and NGLs reserves at December 31, 2024, estimated using the 2024 Price Forecast:

Reserves Category		Light Crude Oil and Medium Crude Oil		Conventional Natural Gas		Shale Gas		NGLs⁽¹⁾		Total Oil Equivalent
Reserves Category		*Gross* (Mbbls)	*Net* (Mbbls)	*Gross* (MMcf)	*Net* (MMcf)	*Gross* (MMcf)	*Net* (MMcf)	*Gross* (Mbbls)	*Net* (Mbbls)	*Gross* (Mboe)	*Net* (Mboe)
Proved
	Developed Producing	4,889	3,946	6,051	5,707	1,053,238	971,102	35,639	29,058	217,076	195,805
	Developed Non-Producing	9	9	0	0	4,840	4,537	239	203	1,054	968
	Undeveloped	7,089	5,747	2,858	2,625	2,320,235	2,094,569	54,988	42,966	449,259	398,246
Total Proved		11,987	9,701	8,909	8,332	3,378,312	3,070,208	90,866	72,227	667,390	595,019
Total Probable		9,083	6,933	5,270	4,911	1,442,846	1,272,820	51,811	39,640	302,246	259,529
Total Proved Plus Probable		21,070	16,635	14,179	13,243	4,821,158	4,343,028	142,676	111,868	969,636	854,547

^{(1) NGLs includes condensate.}

Net Present Values of Future Net Revenue

The following table sets forth the net present values of future net revenue attributable to Birchcliff’s reserves at December 31, 2024, estimated using the 2024 Price Forecast, before deducting future income tax expenses and calculated at various discount rates:

Reserves Category	Before Income Taxes Discounted At (%/year)					Unit Value Discounted at 10%/year ($/boe)⁽¹⁾
Reserves Category	0 ($000s)	5 ($000s)	10 ($000s)	15 ($000s)	20 ($000s)	Unit Value Discounted at 10%/year ($/boe)⁽¹⁾
Proved
Developed Producing	3,670,971	2,851,081	2,277,750	1,892,104	1,621,811	11.63
Developed Non-Producing	13,717	9,900	7,499	5,888	4,750	7.75
Undeveloped	7,083,864	3,707,943	2,073,919	1,199,557	694,944	5.21
Total Proved	10,768,552	6,568,924	4,359,168	3,097,549	2,321,504	7.33
Total Probable	6,210,051	2,553,082	1,204,663	632,630	361,133	4.64
Total Proved Plus Probable	16,978,602	9,122,005	5,563,831	3,730,179	2,682,638	6.51

^{(1) Unit values are based on net reserves volumes.}

Net Asset Value

Net asset value reflects the estimated long-term fair value of Birchcliff’s underlying reserves assets after settling its outstanding financial obligations at a point in time. The net present value of the Corporation’s reserves can vary significantly depending on the oil and natural gas price assumptions used by Deloitte and assumes only the reserves identified in the applicable reserves report, with no further acquisitions or incremental development.

The following table sets forth Birchcliff’s net asset value for its PDP, total proved and total proved plus probable reserves for the periods indicated:

($000s, except per share amounts)	Proved Developed Producing						Total Proved						Total Proved Plus Probable
As at December 31,		2024			2023			2024			2023			2024			2023
Reserves, NPV10%⁽¹⁾		2,277,750			2,620,064			4,359,168			5,405,617			5,563,831			6,835,417
Total debt⁽²⁾		(535,557	)		(382,306	)		(535,557	)		(382,306	)		(535,557	)		(382,306	)
Unexercised securities⁽³⁾		34,961			16,717			34,961			16,717			34,961			16,717
Net asset value⁽⁴⁾⁽⁵⁾		1,777,154			2,254,475			3,858,572			5,040,028			5,063,235			6,469,828
Net asset value (per common share)^(4)(5)(6)	$6.35			$8.22			$13.79			$18.38			$18.09			$23.60

^{(1) Represents the net present value of the future net revenue (before income taxes, discounted at 10%) of Birchcliff’s PDP, total proved and total proved plus probable reserves, as applicable, as estimated by Deloitte effective December 31, 2024 and December 31, 2023, using forecast prices and costs.}

^{(2) Capital management measure. See “Non-GAAP and Other Financial Measures”.}

^{(3) Represents the value of unexercised in-the-money stock options and performance warrants outstanding at the end of the year. The closing trading price on the TSX of Birchcliff’s common shares on December 31, 2024 and December 29, 2023 was $5.42 and $5.78, respectively.}

^{(4) Excludes any value from undeveloped land and seismic.}

^{(5) Net asset value is a non-GAAP financial measure and net asset value per common share is a non-GAAP ratio. See “Non-GAAP and Other Financial Measures”.}

^{(6) For 2024, based on 279.9 million common shares, which includes 271.3 million basic common shares outstanding at December 31, 2024 and 8.6 million dilutive common shares from unexercised in-the-money stock options and performance warrants outstanding at December 31, 2024. For 2023, based on 274.2 million common shares, which includes 267.2 million basic common shares outstanding at December 31, 2023 and 7.0 million dilutive common shares from unexercised in-the-money stock options and performance warrants outstanding at December 31, 2023.}

Net asset value decreased in all categories of reserves in 2024 as compared to 2023 primarily due to lower forecast prices in the 2024 Price Forecast compared to the 2023 Price Forecast, including an AECO price decrease of approximately 20% for 2025 through 2027 and approximately 11% thereafter.

Pricing Assumptions

The following table sets forth the 2024 Price Forecast used in the Deloitte Report:

Year	Crude Oil		Natural Gas⁽¹⁾		NGLs					Currency Exchange Rate (US$/CDN$)	Price and Cost Inflation Rates (%)

	WTI at Cushing Oklahoma (US$/bbl)	Edmonton City Gate (CDN$/bbl)	Alberta AECO Average Price (CDN$/Mcf)	Ontario Dawn Reference Point (CDN$/Mcf)	NYMEX Henry Hub (US$/Mcf)	Edmonton Ethane (CDN$/bbl)	Edmonton Propane (CDN$/bbl)	Edmonton Butane (CDN$/bbl)	Edmonton Pentanes + Condensate (CDN$/bbl)
2025	71.19	94.00	2.35	4.28	3.30	7.27	32.05	48.68	98.02	0.714	0.0
2026	73.20	94.84	3.32	4.83	3.76	10.40	31.19	47.43	97.60	0.731	2.0
2027	74.54	95.28	3.52	4.94	3.93	11.04	31.28	47.63	97.43	0.736	2.0
2028	76.28	96.40	3.69	5.05	4.01	11.61	31.70	48.26	98.60	0.758	2.0
2029	77.81	98.33	3.77	5.14	4.10	11.85	32.33	49.22	100.58	0.758	2.0
2030	79.37	100.30	3.84	5.25	4.17	12.08	32.98	50.20	102.57	0.758	2.0
2031	80.96	102.31	3.92	5.34	4.25	12.34	33.64	51.21	104.63	0.758	2.0
2032	82.57	104.36	3.99	5.46	4.34	12.58	34.31	52.24	106.73	0.758	2.0
2033	84.22	106.44	4.08	5.58	4.43	12.85	35.00	53.27	108.86	0.758	2.0
2034	85.91	108.57	4.16	5.68	4.52	13.10	35.69	54.35	111.04	0.758	2.0
2035	87.63	110.74	4.24	5.80	4.61	13.37	36.41	55.43	113.27	0.758	2.0
2036	89.38	112.95	4.33	5.93	4.69	13.64	37.14	56.54	115.52	0.758	2.0
2037	91.17	115.21	4.42	6.03	4.79	13.91	37.88	57.67	117.84	0.758	2.0
2038	92.99	117.51	4.51	6.14	4.88	14.19	38.63	58.83	120.20	0.758	2.0
2039	94.85	119.86	4.59	6.28	4.99	14.47	39.41	60.00	122.60	0.758	2.0
2040	96.75	122.26	4.68	6.41	5.09	14.76	40.20	61.20	125.05	0.758	2.0
2041	98.69	124.71	4.78	6.54	5.19	15.05	41.00	62.43	127.56	0.758	2.0
2042	100.66	127.20	4.87	6.67	5.29	15.35	41.82	63.68	130.10	0.758	2.0
2043	102.67	129.75	4.97	6.81	5.39	15.66	42.66	64.94	132.71	0.758	2.0
2044	104.72	132.34	5.07	6.93	5.51	15.98	43.51	66.24	135.36	0.758	2.0
2044+	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%	0.758	2.0

^{(1) 1 Mcf = 1 MMBtu.}

Reconciliation of Changes in Reserves

The following table sets forth the reconciliation of Birchcliff’s gross reserves at December 31, 2024 as set forth in the Deloitte Report, estimated using the 2024 Price Forecast, to Birchcliff’s gross reserves at December 31, 2023:

Factors	Light Crude Oil and Medium Crude Oil (Mbbls)		Conventional Natural Gas (MMcf)		Shale Gas (MMcf)		NGLs⁽⁸⁾ (Mbbls)		Oil Equivalent (Mboe)
GROSS TOTAL PROVED
Opening balance December 31, 2023	14,460		10,251		3,493,022		93,547		691,886
Extensions and Improved Recovery⁽¹⁾	0		0		58,875		2,287		12,099
Technical Revisions⁽²⁾	(1,724	)	2,244		(37,966	)	(2,022	)	(9,699	)
Discoveries⁽³⁾	0		0		0		0		0
Acquisitions⁽⁴⁾	0		0		18,193		1,633		4,665
Dispositions⁽⁵⁾	0		0		0		0		0
Economic Factors⁽⁶⁾	(12	)	(2,746	)	(15,923	)	(367	)	(3,491	)
Production⁽⁷⁾	(738	)	(840	)	(137,889	)	(4,211	)	(28,070	)
Closing balance December 31, 2024	11,987		8,909		3,378,312		90,866		667,390
GROSS TOTAL PROBABLE
Opening balance December 31, 2023	10,088		5,666		1,438,587		51,213		302,011
Extensions and Improved Recovery⁽¹⁾	0		0		9,320		1,602		3,155
Technical Revisions⁽²⁾	(1,003	)	(2,604	)	(33,104	)	(3,347	)	(10,301	)
Discoveries⁽³⁾	0		0		0		0		0
Acquisitions⁽⁴⁾	0		0		24,508		2,296		6,381
Dispositions⁽⁵⁾	0		0		0		0		0
Economic Factors⁽⁶⁾	(2	)	2,208		3,535		45		1,000
Production⁽⁷⁾	0		0		0		0		0
Closing balance December 31, 2024	9,083		5,270		1,442,846		51,811		302,246
GROSS TOTAL PROVED PLUS PROBABLE
Opening balance December 31, 2023	24,549		15,917		4,931,609		144,760		993,897
Extensions and Improved Recovery⁽¹⁾	0		0		68,195		3,888		15,254
Technical Revisions⁽²⁾	(2,727	)	(361	)	(71,069	)	(5,369	)	(20,000	)
Discoveries⁽³⁾	0		0		0		0		0
Acquisitions⁽⁴⁾	0		0		42,701		3,929		11,046
Dispositions⁽⁵⁾	0		0		0		0		0
Economic Factors⁽⁶⁾	(14	)	(538	)	(12,389	)	(322	)	(2,490	)
Production⁽⁷⁾	(738	)	(840	)	(137,889	)	(4,211	)	(28,070	)
Closing balance December 31, 2024	21,070		14,179		4,821,158		142,676		969,636

^{(1) Additions to volumes resulting from capital expenditures for: (i) step-out drilling in previously discovered reservoirs; (ii) infill drilling in previously discovered reservoirs that were not drilled as part of an enhanced recovery scheme; and (iii) the installation of improved recovery schemes.}

^{(2) Positive or negative volume revisions to an estimate resulting from new technical data or revised interpretations on previously assigned volumes, performance and operating costs. This category also includes revisions resulting from well locations combined or removed as part of an updated development plan.}

^{(3) Additions to volumes in reservoirs where no reserves were previously booked.}

^{(4) Positive additions to volume estimates because of purchasing interests in oil and gas properties.}

^{(5) Reductions in volume estimates because of selling all or a portion of an interest in oil and gas properties.}

^{(6) Changes to volumes resulting from different price forecasts, inflation rates and regulatory changes.}

^{(7) Reductions in the volume estimates due to actual production.}

^{(8) NGLs includes condensate.}

Key highlights include the following:

Extensions and Improved Recovery
- Reserves were added from 27 wells brought on production pursuant to the Corporation’s successful 2024 capital program. The 2024 program was focused in Birchcliff’s core areas in Pouce Coupe and Gordondale, converting proved and probable undeveloped reserves into PDP reserves.

Technical Revisions
- The technical revisions in all reserves categories for light crude oil and medium crude oil were primarily the result of: (i) higher gas-to-oil ratios for existing producing oil wells in the southeast area in Gordondale; and (ii) potential future drilling location adjustments based on offsetting well performance.
- The technical revisions in all reserves categories for conventional natural gas were primarily the result of existing well performance.
- The technical revisions in all reserves categories for shale gas were primarily the result of:

(i) an updated reserves forecast for existing wells based on historical performance, which included a reduction in the reserves attributable to 56 existing high-density producing wells that were drilled from 2019 to 2023. The Corporation does not expect that the technical revisions relating to these wells will negatively impact future reserves booked for other existing or future wells;

(ii) an updated full-field development plan, which included the combining or removal of multiple proved and probable potential future drilling locations, resulting in the removal of 10 proved undeveloped locations and 3 probable locations; and

(iii) an updated reserves forecast for various potential future drilling locations in the Lower Montney in Gordondale as a result of an increase in the reserves attributable to such future locations due to the continued outperformance of existing wells in the area.

The technical revisions in all reserves categories for NGLs were primarily the result of: (i) a reduction in shale gas volumes; and (ii) reduced NGLs recoveries at the Corporation’s owned and/or operated natural gas processing plants in Pouce Coupe and Gordondale. The reduced NGLs recoveries were partially offset by reduced natural gas shrinkage.

Acquisitions
- Changes were the result of various accretive acquisitions completed by Birchcliff in the Pouce Coupe and Gordondale areas in 2024.
Economic Factors
- The forecast prices for each product type were generally lower in the 2024 Price Forecast than the 2023 Price Forecast, which resulted in the economic limit at the end of a well’s life being achieved earlier and therefore a reduction of the reserves volumes in the total proved and total proved plus probable categories.

Future Development Costs

Future development costs (“FDC”) reflect Deloitte’s best estimate of what it will cost to bring the proved and proved plus probable reserves on production. Changes in forecast FDC occur annually as a result of development activities, acquisition and disposition activities and capital cost estimates. The following table sets forth development costs deducted in the estimation of Birchcliff’s future net revenue attributable to the reserves categories noted below, estimated using the 2024 Price Forecast:

Year	Proved ($000s)	Proved Plus Probable ($000s)
2025	198,395	215,960
2026	355,662	374,083
2027	424,921	455,059
2028	895,366	895,366
2029	644,546	645,166
Thereafter	849,599	2,299,368
Total undiscounted	3,368,489	4,885,002

FDC for proved reserves on an FD&A basis decreased to $3.37 billion at December 31, 2024 from $3.46 billion at December 31, 2023. FDC for proved plus probable reserves on an FD&A basis decreased to $4.89 billion at December 31, 2024 from $4.97 billion at December 31, 2023. The FDC to drill, case, complete, equip and tie-in for future locations in Birchcliff’s Pouce Coupe and Gordondale areas ($5.9 million per well) did not change from December 31, 2023 to December 31, 2024.

The FDC for both proved and proved plus probable reserves are primarily the capital costs required to drill, case, complete, equip and tie-in the net undeveloped locations. The estimates of FDC on a proved and proved plus probable basis also include approximately $320 million (unescalated) for the continued expansion of the Pouce Coupe Gas Plant from the existing 340 MMcf/d to 660 MMcf/d of total throughput. The FDC for the expansion of the Pouce Coupe Gas Plant also include the costs of the related gathering pipelines and maintenance capital.

F&D and FD&A Costs

The following table sets forth Birchcliff’s F&D and FD&A costs for its PDP, total proved and total proved plus probable reserves for the three previous financial years, including FDC:

	2024⁽²⁾	2023	2022	3-Year Average
F&D costs ($/boe)⁽¹⁾
Proved Developed Producing	11.52⁽³⁾	13.16	10.24	11.43
Total Proved	n/a⁽⁴⁾	16.02	82.02	29.43
Total Proved Plus Probable	n/a⁽⁴⁾	24.90	n/a⁽⁵⁾	110.72
FD&A costs ($/boe)⁽¹⁾
Proved Developed Producing	11.42⁽⁶⁾	13.06	10.25	11.38
Total Proved	53.86⁽⁷⁾	13.79	78.96	23.24
Total Proved Plus Probable	50.39⁽⁸⁾	20.97	n/a⁽⁵⁾	49.27

^{(1) See “Advisories – Oil and Gas Metrics” for a description of the methodology used to calculate F&D and FD&A costs.}

^{(2) Birchcliff’s F&D and FD&A capital expenditures were $273.1 million and $281.0 million, respectively, in 2024. Birchcliff’s F&D and FD&A capital expenditures included $18.8 million spent on strategics priorities in the Corporation’s Elmworth area for which there was no production or reserves assigned at year-end 2024.}

^{(3) Birchcliff added 23.7 MMboe of PDP reserves in 2024, after adding back 2024 actual production of 28.1 MMboe and including all other PDP reserves adjustments in 2024, excluding acquisitions and dispositions.}

^{(4) Birchcliff’s proved and proved plus probable reserves decreased in 2024, after adding back 2024 actual production of 28.1 MMboe. As a result of the year-over-year decrease in proved and proved plus probable reserves, the calculation for F&D costs for these reserves categories was not applicable in 2024.}

^{(5) Birchcliff’s proved plus probable reserves decreased in 2022, after adding back 2022 actual production of 28.1 MMboe. As a result of the year-over-year decrease in proved plus probable reserves, the calculations for F&D and FD&A costs for this reserves category were not applicable in 2022.}

^{(6) Birchcliff added 24.6 MMboe of PDP reserves in 2024, after adding back 2024 actual production of 28.1 MMboe and including all other PDP reserves adjustments in 2024.}

^{(7) Includes the 2024 decrease in FDC from 2023 of $88.5 million on a proved basis. Birchcliff added 3.6 MMboe of proved reserves in 2024, after adding back 2024 actual production of 28.1 MMboe and including all other proved reserves adjustments in 2024.}

^{(8) Includes the 2024 decrease in FDC from 2023 of $89.0 million on a proved plus probable basis. Birchcliff added 3.8 MMboe of proved plus probable reserves in 2024, after adding back 2024 actual production of 28.1 MMboe and including all other proved plus probable reserves adjustments in 2024.}

Recycle Ratios

The following table sets forth Birchcliff’s F&D and FD&A operating netback recycle ratios for its PDP, total proved and total proved plus probable reserves for the three previous financial years, including FDC:

	2024	2023	2022	3-Year Average
F&D operating netback recycle ratio⁽¹⁾⁽²⁾
Proved Developed Producing	1.0x	1.1x	3.2x	1.7x
Total Proved	n/a⁽³⁾	0.9x	0.4x	0.7x
Total Proved Plus Probable	n/a⁽³⁾	0.6x	n/a⁽⁴⁾	0.2x
FD&A operating netback recycle ratio⁽¹⁾⁽²⁾
Proved Developed Producing	1.0x	1.1x	3.2x	1.7x
Total Proved	0.2x	1.1x	0.4x	0.8x
Total Proved Plus Probable	0.2x	0.7x	n/a⁽⁴⁾	0.4x

^{(1) Non-GAAP ratio. See “Non-GAAP and Other Financial Measures”.}

^{(2) Birchcliff’s operating netback was $11.02/boe in 2024 as compared to $14.74/boe in 2023 and $32.85/boe in 2022. Operating netback is a non-GAAP ratio. See “Non-GAAP and Other Financial Measures”.}

^{(3) As a result of the year-over-year decrease in proved and proved plus probable reserves, the calculation for F&D operating netback recycle ratio for these reserves categories was not applicable in 2024.}

^{(4) As a result of the year-over-year decrease in proved plus probable reserves, the calculations for F&D and FD&A operating netback recycle ratio for this reserves category were not applicable in 2022.}

Reserves Replacement

The following table sets forth Birchcliff’s 2024 reserves replacement on an F&D and FD&A basis for its PDP, total proved and total proved plus probable reserves:

Reserves Category	2024 F&D Reserves Replacement⁽¹⁾		2024 FD&A Reserves Replacement⁽¹⁾
Proved Developed Producing	84	%	88	%
Total Proved	n/a⁽²⁾		13	%
Total Proved Plus Probable	n/a⁽²⁾		14	%

^{(1) See “Advisories – Oil and Gas Metrics” for a description of the methodology used to calculate reserves replacement.}

^{(2) As a result of the 1.1 MMboe and 7.2 MMboe decrease in Birchcliff’s proved and proved plus probable reserves, respectively, in 2024, after adding back 2024 actual production of 28.1 MMboe, the calculation for F&D reserves replacement for theses reserves categories was not applicable in 2024.}

Reserves Life Index

The following table sets forth Birchcliff’s reserves life index for its PDP, total proved and total proved plus probable reserves at December 31, 2024:

Reserves Category	Reserves Life Index⁽¹⁾
Proved Developed Producing	7.7 years
Total Proved	23.6 years
Total Proved Plus Probable	34.3 years

^{(1) See “Advisories – Oil and Gas Metrics” for a description of the methodology used to calculate reserves life index.}

ABBREVIATIONS

AECO	benchmark price for natural gas determined at the AECO ‘C’ hub in southeast Alberta
bbl	barrel
bbls	barrels
bbls/d	barrels per day
BD/UM	Basal Doig/Upper Montney
boe	barrel of oil equivalent
boe/d	barrel of oil equivalent per day
condensate	pentanes plus (C5+)
F&D	finding and development
FD&A	finding, development and acquisition
G&A	general and administrative
GAAP	generally accepted accounting principles for Canadian public companies, which are currently International Financial Reporting Standards as issued by the International Accounting Standards Board
GJ/d	gigajoules per day
HH	Henry Hub
IP	initial production
LNG	liquefied natural gas
Mbbls	thousand barrels
Mboe	thousand barrels of oil equivalent
Mcf	thousand cubic feet
Mcf/d	thousand cubic feet per day
MMboe	million barrels of oil equivalent
MMBtu	million British thermal units
MMBtu/d	million British thermal units per day
MMcf	million cubic feet
MMcf/d	million cubic feet per day
NGLs	natural gas liquids consisting of ethane (C2), propane (C3) and butane (C4) and, except where otherwise noted, excludes condensate
NPV	net present value
NYMEX	New York Mercantile Exchange
OPEC	Organization of the Petroleum Exporting Countries
PDP	proved developed producing
Q	quarter
TSX	Toronto Stock Exchange
WTI	West Texas Intermediate, the reference price paid in U.S. dollars at Cushing, Oklahoma, for crude oil of standard grade
000s	thousands
$000s	thousands of dollars

NON-GAAP AND OTHER FINANCIAL MEASURES

This press release uses various “non-GAAP financial measures”, “non-GAAP ratios” and “capital management measures” (as such terms are defined in NI 52-112), which are described in further detail below.

Non-GAAP Financial Measures

NI 52-112 defines a non-GAAP financial measure as a financial measure that: (i) depicts the historical or expected future financial performance, financial position or cash flow of an entity; (ii) with respect to its composition, excludes an amount that is included in, or includes an amount that is excluded from, the composition of the most directly comparable financial measure disclosed in the primary financial statements of the entity; (iii) is not disclosed in the financial statements of the entity; and (iv) is not a ratio, fraction, percentage or similar representation. The non-GAAP financial measures used in this press release are not standardized financial measures under GAAP and might not be comparable to similar measures presented by other companies. Investors are cautioned that non-GAAP financial measures should not be construed as alternatives to or more meaningful than the most directly comparable GAAP financial measures as indicators of Birchcliff’s performance. Set forth below is a description of the non-GAAP financial measures used in this press release.

Adjusted Funds Flow and Free Funds Flow

Birchcliff defines “adjusted funds flow” as cash flow from operating activities before the effects of decommissioning expenditures, retirement benefit payments and changes in non-cash operating working capital. Birchcliff eliminates settlements of decommissioning expenditures from cash flow from operating activities as the amounts can be discretionary and may vary from period to period depending on its capital programs and the maturity of its operating areas. The settlement of decommissioning expenditures is managed with Birchcliff’s capital budgeting process which considers available adjusted funds flow. Birchcliff eliminates retirement benefit payments from cash flow from operating activities as such payments reflect costs for past service and contributions made by eligible executives under the Corporation’s post-employment benefit plan, which are not indicative of the current period. Changes in non-cash operating working capital are eliminated in the determination of adjusted funds flow as the timing of collection and payment are variable and by excluding them from the calculation, the Corporation believes that it is able to provide a more meaningful measure of its operations and ability to generate cash on a continuing basis. Management believes that adjusted funds flow assists management and investors in assessing Birchcliff’s financial performance after deducting all operating and corporate cash costs, as well as its ability to generate the cash necessary to fund sustaining and/or growth capital expenditures, repay debt, settle decommissioning obligations, buy back common shares and pay dividends.

Birchcliff defines “free funds flow” as adjusted funds flow less F&D capital expenditures. Management believes that free funds flow assists management and investors in assessing Birchcliff’s ability to generate shareholder value and returns through a number of initiatives, including but not limited to, debt repayment, common share buybacks, the payment of common share dividends, acquisitions and other opportunities that would complement or otherwise improve the Corporation’s business and enhance long-term shareholder value.

The most directly comparable GAAP financial measure to adjusted funds flow and free funds flow is cash flow from operating activities. The following table provides a reconciliation of cash flow from operating activities to adjusted funds flow and free funds flow for the periods indicated:

	Three months ended December 31,				Twelve months ended December 31,
($000s)	2024		2023		2024		2023
Cash flow from operating activities	45,641		79,006		203,710		320,529
Change in non-cash operating working capital	25,278		(6,248	)	17,269		(19,477	)
Decommissioning expenditures	919		1,457		1,964		3,775
Retirement benefit payments	–		2,000		13,851		2,000
Adjusted funds flow	71,838		76,215		236,794		306,827
F&D capital expenditures	(58,310	)	(58,166	)	(273,084	)	(304,637	)
Free funds flow	13,528		18,049		(36,290	)	2,190

Transportation and Other Expense

Birchcliff defines “transportation and other expense” as transportation expense plus marketing purchases less marketing revenue. Birchcliff may enter into certain marketing purchase and sales arrangements with the objective of reducing any unused transportation or fractionation fees associated with its take-or-pay commitments and/or increasing the value of its production through value-added downstream initiatives. Management believes that transportation and other expense assists management and investors in assessing Birchcliff’s total cost structure related to transportation and marketing activities.

The most directly comparable GAAP financial measure to transportation and other expense is transportation expense. The following table provides a reconciliation of transportation expense to transportation and other expense for the periods indicated:

	Three months ended December 31,				Twelve months ended December 31,
($000s)	2024		2023		2024		2023
Transportation expense	36,722		38,509		149,534		152,828
Marketing purchases	14,905		8,928		51,496		34,772
Marketing revenue	(14,083	)	(8,532	)	(54,069	)	(30,521	)
Transportation and other expense	37,544		38,905		146,961		157,079

Operating Netback

Birchcliff defines “operating netback” as petroleum and natural gas revenue less royalty expense, operating expense and transportation and other expense. Management believes that operating netback assists management and investors in assessing Birchcliff’s operating profits after deducting the cash costs that are directly associated with the sale of its production, which can then be used to pay other corporate cash costs or satisfy other obligations.

The following table provides a breakdown of Birchcliff’s operating netback for the periods indicated:

	Three months ended				Twelve months ended
	December 31,				December 31,
($000s)	2024		2023		2024		2023		2022
Petroleum and natural gas revenue	153,741		183,295		586,856		740,359		1,340,180
Royalty expense	(9,033	)	(19,400	)	(39,608	)	(70,257	)	(161,226	)
Operating expense	(20,758	)	(26,808	)	(90,890	)	(105,809	)	(101,581	)
Transportation and other expense	(37,544	)	(38,905	)	(146,961	)	(157,079	)	(154,924	)
Operating netback	86,406		98,182		309,397		407,214		922,449

FD&A and Total Capital Expenditures

Birchcliff defines “FD&A capital expenditures” as exploration and development expenditures, less dispositions, plus acquisitions (if any). Birchcliff defines “total capital expenditures” as FD&A capital expenditures plus administrative assets. Management believes that FD&A capital expenditures and total capital expenditures assist management and investors in assessing Birchcliff’s overall capital cost structure associated with its petroleum and natural gas activities.

The most directly comparable GAAP financial measure to FD&A capital expenditures and total capital expenditures is exploration and development expenditures. The following table provides a reconciliation of exploration and development expenditures to FD&A capital expenditures and total capital expenditures for the periods indicated:

	Three months ended				Twelve months ended
	December 31,				December 31,
($000s)	2024		2023		2024		2023
Exploration and development expenditures⁽¹⁾	58,310		58,166		273,084		304,637
Acquisitions	8,076		2		8,169		190
Dispositions	(100	)	(10	)	(258	)	(87	)
FD&A capital expenditures	66,286		58,158		280,995		304,740
Administrative assets	387		1,383		1,750		3,176
Total capital expenditures	66,673		59,541		282,745		307,916

^{(1) Disclosed as F&D capital expenditures elsewhere in this press release. See “Advisories – F&D Capital Expenditures”.}

Net Asset Value

Birchcliff defines “net asset value” as property, plant and equipment, plus reserves premium adjustment (less reserves discount adjustment) for its PDP, total proved and total proved plus probable reserves (as the case may be), less total debt and plus the value of unexercised in-the-money stock options and performance warrants outstanding at the end of the period. Management believes that net asset value assists management and investors in assessing the long-term fair value of Birchcliff’s underlying reserves assets after settling its outstanding financial obligations.

The most directly comparable GAAP financial measure to net asset value is property, plant and equipment. The following table provides a reconciliation of property, plant and equipment to net asset value for the periods indicated:

	Proved Developed Producing				Total Proved				Total Proved Plus Probable
As at December 31, ($000s)	2024		2023		2024		2023		2024		2023
Property, plant and equipment	3,218,506		3,055,958		3,218,506		3,055,958		3,218,506		3,055,958
Reserves premium (discount) adjustment⁽¹⁾	(940,756	)	(435,894	)	1,140,662		2,349,659		2,345,325		3,779,459
Total debt	(535,557	)	(382,306	)	(535,557	)	(382,306	)	(535,557	)	(382,306	)
Unexercised securities	34,961		16,717		34,961		16,717		34,961		16,717
Net asset value	1,777,154		2,254,475		3,858,572		5,040,028		5,063,235		6,469,828

^{(1) Represents the premium or discount, as the case may be, between the net present value of future net revenue (before income taxes, discounted at 10%) of Birchcliff’s PDP, total proved and total proved plus probable reserves, as the case may be, and the property, plant and equipment disclosed on the financial statements.}

Effective Sales – Total Corporate, Total Natural Gas, AECO Market and NYMEX HH Market

Birchcliff defines “effective sales” in the AECO market and NYMEX HH market as the sales amount received from the production of natural gas that is effectively attributed to the AECO and NYMEX HH market pricing, respectively, and does not consider the physical sales delivery point in each case. Effective sales in the NYMEX HH market includes realized gains and losses on financial instruments and excludes the notional fixed basis costs associated with the underlying financial contract in the period. Birchcliff defines “effective total natural gas sales” as the aggregate of the effective sales amount received in each natural gas market. Birchcliff defines “effective total corporate sales” as the aggregate of the effective total natural gas sales and the sales amount received from the production of light oil, condensate and NGLs. Management believes that disclosing the effective sales for each natural gas market assists management and investors in assessing Birchcliff’s natural gas diversification and commodity price exposure to each market.

The most directly comparable GAAP financial measure to effective total natural gas sales and effective total corporate sales is natural gas sales. The following table provides a reconciliation of natural gas sales to effective total natural gas sales and effective total corporate sales for the periods indicated:

	Three months ended
	December 31,
($000s)	2024	2023
Natural gas sales	79,615	99,957
Realized gain (loss) on financial instruments	12,022	(2,583	)
Notional fixed basis costs⁽¹⁾	21,490	20,802
Effective total natural gas sales	113,127	118,176
Light oil sales	17,450	15,180
Condensate sales	37,985	49,135
NGLs sales	18,679	18,977
Effective total corporate sales	187,241	201,468

^{(1) Reflects the aggregate notional fixed basis cost associated with Birchcliff’s financial and physical NYMEX HH/AECO 7A basis swap contracts in the period.}

Non-GAAP Ratios

NI 52-112 defines a non-GAAP ratio as a financial measure that: (i) is in the form of a ratio, fraction, percentage or similar representation; (ii) has a non-GAAP financial measure as one or more of its components; and (iii) is not disclosed in the financial statements of the entity. The non-GAAP ratios used in this press release are not standardized financial measures under GAAP and might not be comparable to similar measures presented by other companies. Set forth below is a description of the non-GAAP ratios used in this press release.

Adjusted Funds Flow Per Boe and Adjusted Funds Flow Per Basic Common Share

Birchcliff calculates “adjusted funds flow per boe” as aggregate adjusted funds flow in the period divided by the production (boe) in the period. Management believes that adjusted funds flow per boe assists management and investors in assessing Birchcliff’s financial profitability and sustainability on a cash basis by isolating the impact of production volumes to better analyze its performance against prior periods on a comparable basis.

Birchcliff calculates “adjusted funds flow per basic common share” as aggregate adjusted funds flow in the period divided by the weighted average basic common shares outstanding at the end of the period. Management believes that adjusted funds flow per basic common share assists management and investors in assessing Birchcliff’s financial strength on a per common share basis.

Free Funds Flow Per Basic Common Share

Birchcliff calculates “free funds flow per basic common share” as aggregate free funds flow in the period divided by the weighted average basic common shares outstanding at the end of the period. Management believes that free funds flow per basic common share assists management and investors in assessing Birchcliff’s financial strength and its ability to deliver shareholder returns on a per common share basis.

Transportation and Other Expense Per Boe

Birchcliff calculates “transportation and other expense per boe” as aggregate transportation and other expense in the period divided by the production (boe) in the period. Management believes that transportation and other expense per boe assists management and investors in assessing Birchcliff’s cost structure as it relates to its transportation and marketing activities by isolating the impact of production volumes to better analyze its performance against prior periods on a comparable basis.

Operating Netback Per Boe

Birchcliff calculates “operating netback per boe” as aggregate operating netback in the period divided by the production (boe) in the period. Operating netback per boe is a key industry performance indicator and one that provides investors with information that is commonly presented by other oil and natural gas producers. Management believes that operating netback per boe assists management and investors in assessing Birchcliff’s operating profitability and sustainability by isolating the impact of production volumes to better analyze its performance against prior periods on a comparable basis.

Operating Netback Recycle Ratio

Birchcliff calculates “operating netback recycle ratio” as operating netback per boe in the period divided by F&D or FD&A costs, as the case may be, for its PDP, proved and proved plus probable reserves, as the case may be, in the period. Management believes that operating netback recycle ratio assists management and investors in assessing Birchcliff’s ability to profitably find and develop its PDP, proved and proved plus probable reserves.

Net Asset Value Per Common Share

Birchcliff calculates “net asset value per common share” as the net asset value in each category of reserves divided by the aggregate of the basic common shares outstanding and in-the-money dilutive common shares attributable to stock options and performance warrants outstanding at the end of the period. Management believes that net asset value per common share assists management and investors in comparing Birchcliff’s common share trading price to the underlying fair market value of its net assets on a per common share basis.

Effective Average Realized Sales Price – Total Corporate, Total Natural Gas, AECO Market and NYMEX HH Market

Birchcliff calculates “effective average realized sales price” as effective sales, in each of total corporate, total natural gas, AECO market and NYMEX HH market, as the case may be, divided by the effective production in each of the markets during the period. Management believes that disclosing the effective average realized sales price for each natural gas market assists management and investors in comparing Birchcliff’s commodity price realizations in each natural gas market on a per unit basis.

Capital Management Measures

NI 52-112 defines a capital management measure as a financial measure that: (i) is intended to enable an individual to evaluate an entity’s objectives, policies and processes for managing the entity’s capital; (ii) is not a component of a line item disclosed in the primary financial statements of the entity; (iii) is disclosed in the notes to the financial statements of the entity; and (iv) is not disclosed in the primary financial statements of the entity. Set forth below is a description of the capital management measure used in this press release.

Total Debt

Birchcliff calculates “total debt” at the end of the period as the amount outstanding under the Corporation’s Credit Facilities plus working capital deficit (less working capital surplus) plus the fair value of the current asset portion of financial instruments less the fair value of the current liability portion of financial instruments and less the current portion of other liabilities discounted to the end of the period. The current portion of other liabilities has been excluded from total debt as these amounts have not been incurred and reflect future commitments in the normal course of operations. Management believes that total debt assists management and investors in assessing Birchcliff’s overall liquidity and financial position at the end of the period. The following table provides a reconciliation of the amount outstanding under the Credit Facilities, as determined in accordance with GAAP, to total debt for the periods indicated:

As at December 31, ($000s)	2024		2023
Revolving term credit facilities	566,857		372,097
Working capital deficit (surplus)⁽¹⁾	(88,953	)	10,522
Fair value of financial instruments – asset⁽²⁾	71,038		3,588
Fair value of financial instruments – liability⁽²⁾	–		(1,394	)
Other liabilities⁽²⁾	(13,385	)	(2,507	)
Total debt	535,557		382,306

^{(1) Current liabilities less current assets.}

^{(2) Reflects the current portion only.}

PRESENTATION OF OIL AND GAS RESERVES

Deloitte prepared the Deloitte Report and the 2023 Deloitte Report. In addition, Deloitte prepared a reserves evaluation in respect of Birchcliff’s oil and natural gas properties effective December 31, 2022. Such evaluations were prepared in accordance with the standards contained in NI 51-101 and the COGE Handbook that were in effect at the relevant time. Reserves estimates stated herein are extracted from the relevant evaluation.

There are numerous uncertainties inherent in estimating quantities of oil, natural gas and NGLs (including condensate) reserves and the future net revenue attributed to such reserves. The reserves and associated future net revenue information set forth in this press release are estimates only. In general, estimates of economically recoverable oil, natural gas and NGLs reserves and the future net revenue therefrom are based upon a number of variable factors and assumptions, such as historical production from the properties, production rates, ultimate reserves recovery, the timing and amount of capital expenditures, marketability of oil, natural gas and NGLs, royalty rates, the assumed effects of regulation by governmental agencies and future operating costs, all of which may vary materially from actual results. For these reasons, estimates of the economically recoverable oil, natural gas and NGLs reserves attributable to any particular group of properties, the classification of such reserves based on risk of recovery and estimates of future net revenue associated with reserves prepared by different engineers, or by the same engineer at different times, may vary. Birchcliff’s actual production, revenue, taxes and development and operating expenditures with respect to its reserves will vary from estimates thereof and such variations could be material.

It should not be assumed that the undiscounted or discounted net present value of future net revenue attributable to the Corporation’s reserves estimated by the Corporation’s independent qualified reserves evaluator represent the fair market value of those reserves. There is no assurance that the forecast prices and costs assumptions will be attained and variances could be material. Actual oil, natural gas and NGLs reserves may be greater than or less than the estimates provided herein and variances could be material.

In this press release, unless otherwise stated all references to “reserves” are to Birchcliff’s gross company reserves, meaning Birchcliff’s working interest (operating or non-operating) share before the deduction of royalties and without including any royalty interests of Birchcliff.

The information set forth in this press release relating to the reserves, future net revenue and future development costs of Birchcliff constitutes forward-looking statements and is subject to certain risks and uncertainties. See “Advisories – Forward-Looking Statements”.

Certain terms used herein but not defined are defined in NI 51-101, CSA Staff Notice 51-324 – Revised Glossary to NI 51-101 Standards of Disclosure for Oil and Gas Activities (“CSA Staff Notice 51-324”) and/or the COGE Handbook and, unless the context otherwise requires, shall have the same meanings herein as in NI 51-101, CSA Staff Notice 51-324 and the COGE Handbook, as the case may be.

ADVISORIES

Unaudited Information

All financial information contained in this press release for the fourth quarter and year ended December 31, 2024 is based on unaudited estimated financial information which has been disclosed in accordance with GAAP. These estimated results have not been reviewed by the Corporation’s auditor and are subject to change upon completion of the audited financial statements for the year ended December 31, 2024, and changes could be material. Birchcliff anticipates filing its audited financial statements and related management’s discussion and analysis for the year ended December 31, 2024 on SEDAR+ on March 12, 2025.

Currency

Unless otherwise indicated, all dollar amounts are expressed in Canadian dollars, all references to “$” and “CDN$” are to Canadian dollars and all references to “US$” are to United States dollars.

Boe Conversions

Boe amounts have been calculated by using the conversion ratio of 6 Mcf of natural gas to 1 bbl of oil. Boe amounts may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

MMBtu Pricing Conversions

$1.00 per MMBtu equals $1.00 per Mcf based on a standard heat value Mcf.

Oil and Gas Metrics

This press release contains metrics commonly used in the oil and natural gas industry, including F&D costs, FD&A costs, reserves replacement, reserves life index, capital efficiency, operating netback, operating netback recycle ratio, net asset value and net asset value per common share, which have been determined by Birchcliff as set out below. These oil and gas metrics do not have any standardized meanings or standard methods of calculation and therefore may not be comparable to similar measures presented by other companies. As such, they should not be used to make comparisons. Management uses these oil and gas metrics for its own performance measurements and to provide investors with measures to compare Birchcliff’s performance over time; however, such measures are not reliable indicators of Birchcliff’s future performance, which may not compare to Birchcliff’s performance in previous periods, and therefore should not be unduly relied upon.

With respect to F&D and FD&A costs:
- F&D costs for PDP, proved or proved plus probable reserves, as the case may be, are calculated by taking the sum of: (i) exploration and development expenditures (F&D capital expenditures) incurred in the period; and (ii) where appropriate, the change during the period in FDC for the reserves category; divided by the applicable additions to the reserves category after adding back production in the period. F&D costs exclude the effects of acquisitions and dispositions.
- FD&A costs for PDP, proved or proved plus probable reserves, as the case may be, are calculated by taking the sum of: (i) FD&A capital expenditures incurred in the period; and (ii) where appropriate, the change during the period in FDC for the reserves category; divided by the applicable additions to the reserves category after adding back production in the period.
- In determining the F&D and FD&A costs for PDP, proved or proved plus probable reserves, as the case may be, the estimated reserves additions during the period and the change during the period in estimated FDC are based upon the evaluations of Birchcliff’s reserves prepared by its independent qualified reserves evaluator effective December 31 of such year.
- The aggregate of the F&D and FD&A capital expenditures incurred in the most recent financial year and the change during that year in estimated FDC generally will not reflect total F&D and FD&A costs related to reserves additions for that year.
- F&D and FD&A costs may be used as a measure of the Corporation’s efficiency with respect to finding and developing its reserves.
Reserves replacement on an F&D basis is calculated by dividing PDP, proved or proved plus probable reserves additions, as the case may be, before production by the total annual production in the applicable period. Reserves replacement on an FD&A basis is calculated in the same manner as F&D reserves replacement, but include the effects of acquisitions and dispositions. Reserves replacement may be used as a measure of the Corporation’s sustainability and its ability to replace its PDP, proved or proved plus probable reserves, as the case may be.
Reserves life index is calculated by dividing PDP, proved or proved plus probable reserves, as the case may be, estimated by Deloitte at December 31, 2024, by 77,500 boe/d (which represents the mid-point of Birchcliff’s annual average production guidance range for 2025) determined on an annualized basis. Reserves life index may be used as a measure of the Corporation’s sustainability.
Capital efficiency is calculated on an average well basis as drill, case, complete and equip capital expenditures divided by the IP365 boe/d for the applicable well(s). Birchcliff defines “IP365 boe/d” as the estimated average daily field production in the first 365 days a well is on-stream. Where field production data is not available for a well, Birchcliff uses the forecasted production data for that well. Capital efficiency is determined at the individual well level and then aggregated and averaged for the year. Management believes that capital efficiency assists management and investors in assessing Birchcliff’s asset performance, execution and ability to generate shareholder value.
For information regarding operating netback, operating netback recycle ratio, net asset value and net asset value per common share and how such metrics are calculated, see “Non-GAAP and Other Financial Measures”.

Production

With respect to the disclosure of Birchcliff’s production contained in this press release: (i) references to “light oil” mean “light crude oil and medium crude oil” as such term is defined in NI 51-101; (ii) references to “liquids” mean “light crude oil and medium crude oil” and “natural gas liquids” (including condensate) as such terms are defined in NI 51-101; and (iii) references to “natural gas” mean “shale gas”, which also includes an immaterial amount of “conventional natural gas”, as such terms are defined in NI 51-101. In addition, NI 51-101 includes condensate within the product type of natural gas liquids. In certain cases, Birchcliff has disclosed condensate separately from other natural gas liquids as the price of condensate as compared to other natural gas liquids is currently significantly higher and Birchcliff believes presenting the two commodities separately provides a more accurate description of its operations and results therefrom.

With respect to the disclosure of Birchcliff’s production contained in this press release, all production volumes have been disclosed on a “gross” basis as such term is defined in NI 51-101, meaning Birchcliff’s working interest (operating or non-operating) share before the deduction of royalties and without including any royalty interests of Birchcliff.

F&D Capital Expenditures

Unless otherwise stated, references in this press release to “F&D capital expenditures” denotes exploration and development expenditures as disclosed in the Corporation’s financial statements in accordance with GAAP, and is primarily comprised of capital for land, seismic, workovers, drilling and completions, well equipment and facilities and capitalized G&A costs and excludes any acquisitions, dispositions, administrative assets and the capitalized portion of cash incentive payments that have not been approved by the Board. Management believes that F&D capital expenditures assists management and investors in assessing Birchcliff’s capital cost outlay associated with its exploration and development activities for the purposes of finding and developing its reserves.

Forward-Looking Statements

Certain statements contained in this press release constitute forward‐looking statements and forward-looking information (collectively referred to as “forward‐looking statements”) within the meaning of applicable Canadian securities laws. The forward-looking statements contained in this press release relate to future events or Birchcliff’s future plans, strategy, operations, performance or financial position and are based on Birchcliff’s current expectations, estimates, projections, beliefs and assumptions. Such forward-looking statements have been made by Birchcliff in light of the information available to it at the time the statements were made and reflect its experience and perception of historical trends. All statements and information other than historical fact may be forward‐looking statements. Such forward‐looking statements are often, but not always, identified by the use of words such as “seek”, “plan”, “focus”, “future”, “outlook”, “position”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “forecast”, “guidance”, “potential”, “proposed”, “predict”, “budget”, “continue”, “targeting”, “may”, “will”, “could”, “might”, “should”, “would”, “on track”, “maintain”, “deliver” and other similar words and expressions.

By their nature, forward-looking statements involve 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 statements. Accordingly, readers are cautioned not to place undue reliance on such forward-looking statements. Although Birchcliff believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and Birchcliff makes no representation that actual results achieved will be the same in whole or in part as those set out in the forward-looking statements.

In particular, this press release contains forward‐looking statements relating to:

Birchcliff’s plans and other aspects of its anticipated future financial performance, results, operations, focus, objectives, strategies, opportunities, priorities and goals, including: Birchcliff’s belief that there is significant intrinsic shareholder value embedded in Birchcliff’s asset base that is not reflected in its current share price, as demonstrated by its PDP reserves net asset value per common share of $6.35 and $13.79 and $18.09 per share for its proved and proved plus probable reserves, respectively; that Birchcliff’s Elmworth asset provides Birchcliff with significant inventory and a large potential future development area; that Birchcliff’s strategy for 2025 builds off of the operational momentum from 2024, maintaining the Corporation’s focus on capital efficiency improvements and further driving down costs; that the Corporation’s 2025 capital program has been designed to ensure that its capital is strategically deployed throughout the year, providing it with the flexibility to adjust its capital spending if necessary in response to the commodity price volatility expected during 2025, including as a result of the potential for U.S. and Canadian tariffs and the start-up of LNG Canada; that the unutilized credit capacity under its Credit Facilities provides Birchcliff with significant financial flexibility and available capital resources; that Birchcliff believes its ongoing strategy of maintaining significant natural gas market diversification for 2025 will continue to protect the Corporation from volatility in the North American natural gas pricing environment, including as it relates to potential tariffs; and estimates of Birchcliff’s 2025 market diversification (including that approximately 41% of Birchcliff’s natural gas production is physically delivered to the Dawn trading hub in Ontario and that Birchcliff has U.S. denominated financial contracts that expose approximately 35% of its natural gas production to NYMEX HH pricing on a financial basis);
the information set forth under the heading “Update on 2025 Capital Program” and elsewhere in this press release regarding Birchcliff’s 2025 capital program and its exploration, production and development activities and the timing thereof, including: estimates of the Corporation’s 2025 F&D capital expenditures; that the wells in Birchcliff’s 2025 capital program are expected to yield strong production, using the Corporation’s latest field development practices and wellbore design, which incorporates longer lateral lengths, reduced stage spacing and increased proppant loading where appropriate; that the land retention well drilled and completed by the Corporation in Elmworth is not currently planned to be tied in; the targeted product types; and the expected timing for wells to be drilled, completed and brought on production;
statements regarding U.S. and Canadian tariffs, including that the Corporation believes that Canada’s over-reliance on exporting its energy into the U.S. must be addressed through the reduction of red tape and government interference in the construction of critical infrastructure such as oil and gas pipelines to the east and west coasts of Canada, LNG terminals on each coast and an increase in refining capacity within Canada, in order to diversify Canada’s energy export market; and that the Corporation continues to actively monitor this situation;
the information set forth under the heading “2024 Year-End Reserves” and elsewhere in this press release regarding the Corporation’s reserves, including: estimates of reserves; estimates of the net present values of future net revenue associated with Birchcliff’s reserves; forecasts of prices, inflation and exchange rates; FDC; reserves life index; and that the Corporation does not expect that the technical revisions relating to the 56 high-density wells drilled from 2019 to 2023 will negatively impact future reserves booked for other existing or future wells;
the performance and other characteristics of Birchcliff’s oil and natural gas properties and expected results from its assets, including statements regarding the potential or prospectivity of Birchcliff’s properties; and
that Birchcliff anticipates filing its annual information form and audited financial statements and related management’s discussion and analysis for the year ended December 31, 2024 on March 12, 2025.

Information relating to reserves is forward-looking as it involves the implied assessment, based on certain estimates and assumptions, that the reserves exist in the quantities predicted or estimated and that the reserves can profitably be produced in the future. See “Presentation of Oil and Gas Reserves”.

With respect to the forward-looking statements contained in this press release, assumptions have been made regarding, among other things: prevailing and future commodity prices and differentials, exchange rates, interest rates, inflation rates, royalty rates and tax rates; the state of the economy, financial markets and the exploration, development and production business; the political environment in which Birchcliff operates; the regulatory framework regarding royalties, taxes, environmental, climate change and other laws; the Corporation’s ability to comply with existing and future laws; future cash flow, debt and dividend levels; future operating, transportation, G&A and other expenses; Birchcliff’s ability to access capital and obtain financing on acceptable terms; the timing and amount of capital expenditures and the sources of funding for capital expenditures and other activities; the sufficiency of budgeted capital expenditures to carry out planned operations; the successful and timely implementation of capital projects and the timing, location and extent of future drilling and other operations; results of operations; Birchcliff’s ability to continue to develop its assets and obtain the anticipated benefits therefrom; the performance of existing and future wells; reserves volumes and Birchcliff’s ability to replace and expand reserves through acquisition, development or exploration; the impact of competition on Birchcliff; the availability of, demand for and cost of labour, services and materials; the approval of the Board of future dividends; the ability to obtain any necessary regulatory or other approvals in a timely manner; the satisfaction by third parties of their obligations to Birchcliff; the ability of Birchcliff to secure adequate processing and transportation for its products; Birchcliff’s ability to successfully market natural gas and liquids; the results of the Corporation’s risk management and market diversification activities; and Birchcliff’s natural gas market exposure. In addition to the foregoing assumptions, Birchcliff has made the following assumptions with respect to certain forward-looking statements contained in this press release:

Birchcliff’s forecast of F&D capital expenditures assumes that the Corporation’s 2025 capital program will be carried out as currently contemplated and excludes any potential acquisitions, dispositions and the capitalized portion of cash incentive payments that have not been approved by the Board. The amount and allocation of capital expenditures for exploration and development activities by area and the number and types of wells to be drilled and brought on production is dependent upon results achieved and is subject to review and modification by management on an ongoing basis throughout the year. Actual spending may vary due to a variety of factors, including commodity prices, economic conditions, results of operations and costs of labour, services and materials.
With respect to estimates of reserves volumes and the net present values of future net revenue associated with Birchcliff’s reserves, the key assumption is the validity of the data used by Deloitte in the Deloitte Report.
With respect to statements regarding future wells to be drilled or brought on production, such statements assume: the continuing validity of the geological and other technical interpretations performed by Birchcliff’s technical staff, which indicate that commercially economic volumes can be recovered from Birchcliff’s lands as a result of drilling future wells; and that commodity prices and general economic conditions will warrant proceeding with the drilling of such wells.

Birchcliff’s actual results, performance or achievements could differ materially from those anticipated in the forward-looking statements as a result of both known and unknown risks and uncertainties including, but not limited to: general economic, market and business conditions which will, among other things, impact the demand for and market prices of Birchcliff’s products and Birchcliff’s access to capital; volatility of crude oil and natural gas prices; risks associated with increasing costs, whether due to high inflation rates, supply chain disruptions or other factors; fluctuations in exchange and interest rates; an inability of Birchcliff to generate sufficient cash flow from operations to meet its current and future obligations; an inability to access sufficient capital from internal and external sources on terms acceptable to the Corporation; risks associated with Birchcliff’s Credit Facilities, including a failure to comply with covenants under the agreement governing the Credit Facilities and the risk that the borrowing base limit may be redetermined; fluctuations in the costs of borrowing; operational risks and liabilities inherent in oil and natural gas operations; the risk that weather events such as wildfires, flooding, droughts or extreme hot or cold temperatures forces the Corporation to shut-in production or otherwise adversely affects the Corporation’s operations; the occurrence of unexpected events such as fires, explosions, blow-outs, equipment failures, transportation incidents and other similar events; an inability to access sufficient water or other fluids needed for operations; the risks associated with supply chain disruptions; uncertainty that development activities in connection with Birchcliff’s assets will be economic; an inability to access or implement some or all of the technology necessary to operate its assets and achieve expected future results; geological, technical, drilling, construction and processing problems; uncertainty of geological and technical data; horizontal drilling and completions techniques and the failure of drilling results to meet expectations for reserves or production; uncertainties related to Birchcliff’s future potential drilling locations; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to production, revenue, costs and reserves; the accuracy of cost estimates and variances in Birchcliff’s actual costs and economic returns from those anticipated; incorrect assessments of the value of acquisitions and exploration and development programs; the risks posed by pandemics, epidemics and global conflict and their impacts on supply and demand and commodity prices; actions taken by OPEC and other major producers of crude oil and the impact such actions may have on supply and demand and commodity prices; stock market volatility; loss of market demand; changes to the regulatory framework in the locations where the Corporation operates, including changes to tax laws, Crown royalty rates, environmental laws, climate change laws, carbon tax regimes, incentive programs and other regulations that affect the oil and natural gas industry (including uncertainty with respect to the interpretation of Bill C-59 and the related amendments to the Competition Act (Canada)); political uncertainty and uncertainty associated with government policy changes, including the risk of U.S. tariffs on goods exported from Canada and any retaliatory tariffs implemented; actions by government authorities; an inability of the Corporation to comply with existing and future laws and the cost of compliance with such laws; dependence on facilities, gathering lines and pipelines; uncertainties and risks associated with pipeline restrictions and outages to third-party infrastructure that could cause disruptions to production; the lack of available pipeline capacity and an inability to secure adequate and cost-effective processing and transportation for Birchcliff’s products; an inability to satisfy obligations under Birchcliff’s firm marketing and transportation arrangements; shortages in equipment and skilled personnel; the absence or loss of key employees; competition for, among other things, capital, acquisitions of reserves, undeveloped lands, equipment and skilled personnel; management of Birchcliff’s growth; environmental and climate change risks, claims and liabilities; potential litigation; default under or breach of agreements by counterparties and potential enforceability issues in contracts; claims by Indigenous peoples; the reassessment by taxing or regulatory authorities of the Corporation’s prior transactions and filings; unforeseen title defects; third-party claims regarding the Corporation’s right to use technology and equipment; uncertainties associated with the outcome of litigation or other proceedings involving Birchcliff; uncertainties associated with counterparty credit risk; risks associated with Birchcliff’s risk management and market diversification activities; risks associated with the declaration and payment of future dividends, including the discretion of the Board to declare dividends and change the Corporation’s dividend policy and the risk that the amount of dividends may be less than currently forecast; the failure to obtain any required approvals in a timely manner or at all; the failure to complete or realize the anticipated benefits of acquisitions and dispositions and the risk of unforeseen difficulties in integrating acquired assets into Birchcliff’s operations; negative public perception of the oil and natural gas industry and fossil fuels; the Corporation’s reliance on hydraulic fracturing; market competition, including from alternative energy sources; changing demand for petroleum products; the availability of insurance and the risk that certain losses may not be insured; breaches or failure of information systems and security (including risks associated with cyber-attacks); risks associated with the ownership of the Corporation’s securities; the accuracy of the Corporation’s accounting estimates and judgments; and the risk that any of the Corporation’s material assumptions prove to be materially inaccurate.

Readers are cautioned that the foregoing lists of factors are not exhaustive. Additional information on these and other risk factors that could affect Birchcliff’s results of operations, financial performance or financial results are included in Birchcliff’s annual information form and annual management’s discussion and analysis for the financial year ended December 31, 2023 under the heading “Risk Factors” and in other reports filed with Canadian securities regulatory authorities.

This press release contains information that may constitute future-oriented financial information or financial outlook information (collectively, “FOFI”) about Birchcliff’s prospective financial performance, financial position or cash flows, all of which is subject to the same assumptions, risk factors, limitations and qualifications as set forth above. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise or inaccurate and, as such, undue reliance should not be placed on FOFI. Birchcliff’s actual results, performance and achievements could differ materially from those expressed in, or implied by, FOFI. Birchcliff has included FOFI in order to provide readers with a more complete perspective on Birchcliff’s future operations and management’s current expectations relating to Birchcliff’s future performance. Readers are cautioned that such information may not be appropriate for other purposes.

Management has included the above summary of assumptions and risks related to forward-looking statements provided in this press release in order to provide readers with a more complete perspective on Birchcliff’s future operations and management’s current expectations relating to Birchcliff’s future performance. Readers are cautioned that this information may not be appropriate for other purposes.

The forward-looking statements and FOFI contained in this press release are expressly qualified by the foregoing cautionary statements. The forward-looking statements and FOFI contained herein are made as of the date of this press release. Unless required by applicable laws, Birchcliff does not undertake any obligation to publicly update or revise any forward-looking statements or FOFI, whether as a result of new information, future events or otherwise.

ABOUT BIRCHCLIFF:

Birchcliff is an intermediate oil and natural gas company based in Calgary, Alberta with operations focused on the Montney/Doig Resource Play in Alberta. Birchcliff’s common shares are listed for trading on the TSX under the symbol “BIR”.

For further information, please contact:

Birchcliff Energy Ltd.
Suite 1000, 600 – 3^rd Avenue S.W.
Calgary, Alberta T2P 0G5
Telephone: (403) 261-6401
Email: birinfo@birchcliffenergy.com
www.birchcliffenergy.com

Chris Carlsen – President and Chief Executive Officer

Bruno Geremia – Executive Vice President and Chief Financial Officer

The MIL Network –

February 13, 2025

MIL-OSI United Nations: Commitment to Inclusive Political Transition Vital for Syria’s Success, Special Envoy Says, Warning Further Conflict Could Hinder Fight against Da’esh

Source: United Nations MIL OSI b

Concerns Raised over Discrimination against Women, Minorities

Acknowledging the Syrian caretaker authorities pledges to achieve an inclusive Syrian-owned and -led political transition in line with the key principles of Council resolution 2254 (2015), the United Nations senior mediator in the country warned the Security Council today that further conflict could have a drastic impact on the fight against Da’esh and international peace and security.

The current transition in Syria is unfolding amid territorial division in the north-east and a complex security environment in the rest of the country, said Geir O. Pedersen, Special Envoy of the Secretary-General for Syria.

“The leadership of the caretaker authorities have repeatedly committed publicly and to me that the new Syria will be for all Syrians and built on inclusive and credible foundations,” he said.

On 29 January, a broad range of military factions assembled in Damascus and issued a declaration dissolving the 2012 Constitution, exceptional laws, the former Parliament, the former army, former regime-allied militias and the Ba’ath Party, he said. Ahmad al-Sharaa — declared “interim President and head of State for a transitional period” — pledged to “work to form a comprehensive transitional Government that expresses the diversity of Syria” towards “free and fair elections”.

The Special Envoy said that, while in Syria, he was “deeply struck” by the shared conviction among Syrians that the success of the country’s political transition is essential, and that “it cannot afford to fail”.

However, many are concerned that there has been no rule of law, no constitutional or legal framework for appointments and policy decisions and no systematic communication or transparency. Some expressed concerns that the caretaker authorities — staffed mostly with affiliates of the Idlib Salvation Government — are taking decisions that go “beyond a caretaker mode”, including in terms of restructuring State institutions, with potential impact on specific communities.

Additionally, many Syrians expressed concern at reports of discriminatory practices targeting women, and of increasing social pressure towards certain norms, he said, stressing that Syrian women want “more than protection”; they want meaningful participation in decision-making and transitional institutions.

He further observed that the situation in north-east Syria complicates the political transition, pointing to daily front-line hostilities impacting civilians and civilian infrastructure. Many Syrians expressed fears about security fragmentation and that external actors could exploit it — particularly “if the transition goes awry”. And many expressed parallel concerns that ongoing efforts for public sector restructuring may push hundreds of thousands into need – including former security elements — potentially jeopardizing future stability. Equally concerning is the inclusion of foreign fighters in the senior ranks of the new armed forces, as well as individuals associated with violations.

Relatedly, he spotlighted concerning reports of incidents still taking place against the backdrop of the authorities’ security operations, including men killed in the exchange of fire and reported serious ill-treatment in detention. In addition, residents are reportedly facing incidents of kidnapping, looting, expropriation of property and forced evictions of families from public housing.

Against this backdrop, he called on the caretaker authorities to ensure all armed actors cease these actions, amplify their assurances into concrete procedures and work on a comprehensive transitional justice framework. He also underscored that Israel must withdraw from Syria, noting the UN’s engagement with that country and the caretaker authorities to that end. Further, he urged sanctioning States to ease sanctions in the critical sectors of energy, investments and finance — including the Central Bank.

Syria ‘at Top of Priority List’ for UN, Humanitarian Aid Partners

Joyce Msuya, Assistant Secretary-General for Humanitarian Affairs and Deputy Emergency Relief Coordinator, highlighted the impact of continued hostilities, especially in the north of Syria, on the country’s immense humanitarian crisis. Fighting in and around Mennbij in eastern Aleppo has displaced over 25,000 people, while hostilities have continued in Ar-Raqqa and Al-Hasakeh Governorates, affecting civilian infrastructure. “Since late November [2024], the United Nations and humanitarian partners have provided more than 3.3 million people with bread assistance, as well as other food aid,” she said, highlighting the work of mobile health and nutrition teams. The cross-border operation from Turkiye remains essential, she noted, adding that, in January, 94 trucks carrying essential supplies crossed through the Bab al-Hawa and Bab al-Salam crossings.

“Syria remains at the top of our priority list,” she said, adding that senior representatives of humanitarian agencies have visited the country to engage with partners and caretaker authorities. Outlining efforts to move towards a streamlined coordination architecture, which should be in place by June, she said it will be led by the UN Humanitarian Coordinator in Damascus. Turning to engagement with the caretaker authorities, she highlighted their assurances “to facilitate access, ease bureaucratic procedures and engage in practical dialogue with the humanitarian community”. Last week, cash-withdrawal limits for aid organizations were lifted, and transactions were authorized in Syrian pounds or United States dollars.

“Now is the time to invest in Syria’s future,” she emphasized, adding that many of the 6 million Syrian refugees in neighbouring countries are “weighing the momentous decision of whether to return”. Alongside life-saving support, it is essential to restore critical health water and other services, she added, expressing concern about funding shortfalls and calling for “generous financial pledges”. “The UN and partners are appealing for $1.2 billion to reach 6.7 million people through March of this year,” she said. Further clarity is needed on the implications of the freeze on US-funded activities and associated humanitarian waivers, she said, noting that, in 2024, funding from that country accounted for more than a quarter of support for the humanitarian response plan in Syria. She underscored that delays or suspension of funding will affect whether vulnerable people can access essential services.

…

MIL OSI United Nations News –

February 13, 2025
MIL-OSI United Nations: Kazakhstan’s Inclusion Council Examines Persons with Disabilities in Emergency Situations
Source: UNISDR Disaster Risk Reduction

Today, a meeting of the Inclusion Council dedicated to the protection and safety of persons with disabilities in emergency situations was held in the Senate, Parliament of Kazakhstan. During the meeting, council members, experts, and representatives of the Ministry of Emergency Situations (MES), Ministry of Labor and Social Protection of Population discussed pressing issues faced by people with limited mobility during emergencies and proposed solutions to address them.

One of the key topics of discussion was the inaccessibility of temporary shelters for persons with disabilities, particularly during floods. Many evacuation points do not meet accessibility requirements: high thresholds, slippery surfaces, lack of ramps, narrow doorways, and the absence of tactile indicators and visual cues create significant barriers for people with limited mobility.

These issues affect not only persons with disabilities but also elderly citizens, pregnant women, parents with strollers, and other vulnerable groups. Participants emphasized that ensuring accessible infrastructure in emergencies is not just a matter of convenience but a necessity that can save lives.

Senators and experts proposed a number of measures to improve the situation:
1. Enhancing Public Preparedness for Emergencies.
2. Improving Early Warning Systems.
3. Improving Accessibility of Temporary Shelters.
4. Developing Inclusive Digital Solutions.
“Ensuring the safety of people with disabilities in emergencies is not just a matter of protection but a fundamental right. We must consider various types of disabilities when developing safety measures so that every person, regardless of their physical abilities, can receive timely assistance. This applies not only to evacuation but also to access to information, training, and infrastructure,”

said Chairperson of the Inclusion Council at the Senate, Lyazzat Kaltaeva.

Representatives of the Ministry of Emergency Situations reported that 459 high-risk social facilities are currently registered with the ministry. State fire inspections regularly monitor these facilities to prevent violations. Additionally, these systems contain data on 263,026 citizens with disabilities, enabling rescue services to act more effectively.

UNDRR (United Nations Office for Disaster Risk Reduction) addressed the meeting, sharing the results of an urban resilience assessment conducted in Almaty in 2024. They also discussed the potential for adopting international best practices from cities participating in the Making Cities Resilient 2030 (MCR2030) Initiative. This experience could serve as a valuable resource for improving safety systems and adapting infrastructure in Kazakhstan.

In 2023, UNDRR published a Global Survey on Persons with Disabilities and Disasters which found limited progress in disability inclusion over the past 10 years and called for accelerated action.

Participants emphasized that efforts to ensure the safety of persons with disabilities in emergencies must continue through close collaboration between government agencies, public organizations, and expert communities. Only through joint efforts can a system be created where every person, regardless of their abilities, is protected in the event of an emergency.

This meeting marked an important step toward building an inclusive society where safety and protection are guaranteed for all.

MIL OSI United Nations News –
February 13, 2025
MIL-OSI United Nations: RAR24: Lack of investment in disaster prevention threatens Latin America and the Caribbean’s future

Source: UNISDR Disaster Risk Reduction

Latin America and the Caribbean face a critical imbalance in resource allocation for disaster risk reduction (DRR). According to the 2024 Regional Assessment Report on Disaster Risk in Latin America and the Caribbean (RAR24), developed by the United Nations Office for Disaster Risk Reduction (UNDRR) – Regional Office for the Americas and the Caribbean, only 6% of the public budget classified as DRR in the examined cases is allocated to preventing future risks, while 16% is dedicated to mitigating existing risks. The vast majority of funding is concentrated on response and reconstruction after disasters.

This reactive approach carries a heavy economic toll, with annual disaster losses expected to reach $58 billion across the region. Climate-related hazards now account for 83% of disasters, a trend compounded by rapid, unplanned urbanization. With 81% of the population living in cities—many in high-risk areas exposed to floods, hurricanes, and earthquakes—the urgency to shift from response to prevention has never been clearer.

RAR24 examines Brazil, Guatemala, and Mexico as case studies, recognizing their efforts in implementing budget classifiers that allow for better tracking and analysis of DRR investments. However, the findings reveal that most resources remain allocated to response and reconstruction. These tools represent a crucial step toward identifying gaps and improving investment strategies.

In Brazil, 0.06% of the national budget was allocated to DRR, with over 70% directed toward response and reconstruction. In Guatemala, 2.32% of the national budget was allocated to DRR between 2014 and 2023, but more than 98% of those funds went to response and reconstruction. In Mexico, 0.29% of the national budget was allocated to DRR, with 99% of it dedicated to response and reconstruction. Tracking these expenditures is essential for redirecting efforts toward prevention and demonstrating the potential for a more balanced approach.

The report also highlights missed opportunities due to the imbalance in risk management strategies. Early warning systems, which can reduce economic disaster impacts by 30%, and nature-based solutions, which are up to 50% more cost-effective than traditional interventions, remain underutilized due to insufficient investment in prospective risk management—actions aimed at preventing the creation of new risks rather than merely responding to disasters.

Furthermore, only 5% of disaster losses in developing countries are covered by insurance, compared to 40% in developed nations. This underscores the need for accessible and sustainable insurance schemes, as well as stronger collaboration between governments and the private sector to anticipate risks rather than merely react to them.

“Latin America and the Caribbean are facing a critical funding gap in disaster risk reduction, with most resources dedicated to response and reconstruction instead of prevention,” said Nahuel Arenas, Chief of the UNDRR Regional Office for the Americas and the Caribbean. “Investing in prospective risk management is not only more cost-effective but also an urgent necessity to protect communities, economies, and ensure a resilient future.”

RAR24 outlines a roadmap for correcting this imbalance, emphasizing the need to integrate disaster risk reduction as a fundamental pillar of sustainable development. Key recommendations include prioritizing investment in prospective risk management, strengthening intersectoral governance, adopting nature-based solutions, and expanding early warning systems.

Incorporating DRR into development policies will not only ensure more equitable and resilient growth but also save lives and significantly reduce disaster-related costs. According to the report, every dollar invested in DRR saves four dollars in future losses, reinforcing its strategic role in long-term sustainability.

Addressing the challenges posed by unequal investment in disaster risk reduction requires a collective and committed effort. DRR should not be seen as an expense but as a critical investment in the well-being of present and future generations. RAR24 not only exposes existing weaknesses but also highlights the tremendous opportunities to build a safer, more equitable, and resilient future for all.

MIL OSI United Nations News –

February 13, 2025
MIL-OSI United Nations: Complex disaster risks call for urgent action in the Arab region
Source: UNISDR Disaster Risk Reduction

Leaders call to collectively strengthen resilience at the 6th Arab Regional Platform for Disaster Risk Reduction

Kuwait City, Kuwait, 12 February 2025 – UNDRR’s Arab States region – covering 22 countries mostly in the Middle East and northern Africa – faces a range of hazards, exacerbated by climate change.

Over the past 50 years, the region has suffered economic losses nearing $60 billion, with droughts, earthquakes, and floods taking the most severe human and economic toll.

Recent disasters – such as the 2023 earthquakes in Syria and Morocco, catastrophic floods in Libya, and numerous severe droughts – are grim reminders of the urgent need for stronger risk governance and climate resilience strategies.

Transboundary risks need transboundary solutions

The hazards that the region faces move freely across borders, and so efforts to manage and reduce risks likewise need to be transboundary. This means working together as a region.

This spirit of cooperation was evident in Kuwait this week, where disaster risk reduction experts, government officials, and resilience-building stakeholders from across the region came together for the 6th Arab Regional Platform for Disaster Risk Reduction. The four-day event aimed to strengthen policies and partnerships, in order to reduce disaster risk and enhance resilience collectively. The Platform culminated in the adoption of the Kuwait Declaration for Disaster Risk Reduction, reaffirming the urgency of resilience building across the region.

Hosted by the Government of Kuwait and co-organized by UNDRR’s Regional Office for Arab States and the League of Arab States, the Platform is a forum to assess progress, exchange best practices, and drive regional commitments to disaster risk reduction (DRR).

Innovative financing and early warnings

A preparatory day ahead of the Platform proper tackled two important topics, in parallel: the need for new and innovative financing solutions for disaster risk reduction; and implementing the Early Warnings For All initiative in the region.

The Resilient Infrastructure and DRR Financing Conference explored ways to address the challenges of DRR financing, including innovative financial instruments like catastrophe bonds, resilience bonds, and parametric insurance; public-private partnerships; and a comprehensive approach integrating DRR strategies into climate finance.

Alongside this, the Early Warnings for All Multistakeholder Forum for the Arab States, led by UNDRR and the World Meteorological Organization (WMO), discussed progress in implementing Early Warnings for All in the region, with a focus on early warning technologies and risk communication strategies.

Speaking to the Forum, WMO President Dr. Abdulla Al Mandous affirmed that the Early Warning for All initiative is a top priority for WMO.

“We firmly believe that strengthening early warning systems, improving climate services, and enhancing regional and international partnerships are essential pillars for effective disaster risk reduction,” he said.

An appeal for collective action

Opening the Platform on 10 February, Special Representative of the UN Secretary-General for Disaster Risk Reduction (SRSG) Kamal Kishore stressed the need for urgent action:

“The Arab region should be proud of the progress it has made in advancing disaster risk reduction, especially around strengthening risk governance frameworks, which is a prerequisite for achieving sustainable development. That said, there are still many areas for improvement.”

He outlined three key objectives for the regional platform:
1. Strengthening risk understanding – Improved knowledge exchange across the region will improve risk assessments, especially in the face of climate change.
2. Enhancing partnerships and collaboration – More multi-sectoral engagement and regional cooperation is essential for addressing transboundary risks.
3. Committing to action – Accelerated implementation of the Sendai Framework for Disaster Risk Reduction requires taking concrete steps, in order to meet its targets before 2030.
Better governance and more investment in risk reduction

Sheikh Fahad Yusuf Al-Sabah, Kuwait’s Deputy Prime Minister, Minister of Defence, and Minister of Interior, welcomed delegates, reaffirming Kuwait’s commitment to DRR, and noted the special challenges that the region faces:

“We are in a world that is witnessing an unprecedented acceleration in the pace of natural and human risks, and the challenges facing our societies are increasing in terms of size and complexity,” he said

“Disasters have become more frequent and diverse, as a result of climate change, rapid and unregulated urban growth, and environmental degradation, which makes it necessary for us to adopt a comprehensive and integrated approach to dealing with these risks.”

During the Platform’s busy schedule, participants engaged in sessions giving updates and discussion on a variety of topics especially pertinent to the region, including: innovative DRR financing; urban resilience; risk knowledge; extreme heat; disaster preparedness, recovery and “building back better”; and the Santiago network for loss and damage.

Scroll through the photo gallery of the Regional Platform

Innovative, actionable strategies

To inform the dialogue at the Platform, the UNDRR presented the findings of 2024 Regional Assessment Report (RAR) on Disaster Risk Reduction in the Arab Region, updating analysis of the region’s evolving risk landscape. These findings warn of a “perfect storm” of interconnected risks, driven by climate change, water scarcity, governance challenges, and institutional fragility.

The authors noted:
- Temperatures in the region are rising at an alarming rate of +0.5°C per decade, intensifying droughts, extreme heat, and food insecurity.
- Governance and institutional challenges remain major obstacles to effective disaster risk management.
- The increasing frequency of climate-related disasters threatens human security, economic stability, and public health.
- Many cities in the Middle East may become uninhabitable before the end of the century if urgent measures are not taken.
The report aims to guide governments, policymakers, practitioners, and stakeholders in disaster risk reduction and sustainable development, and calls for collaborative efforts to transform an understanding of risk into actionable strategies that prioritize community wellbeing and environmental sustainability.

Regional cooperation to implement the Sendai Framework

The Platform culminated with Member States and stakeholders issuing the Kuwait Declaration for Disaster Risk Reduction, which notes the need for accelerated implementation of the Sendai Framework; enhanced DRR governance; more investment in resilient infrastructure; extended early warning system coverage; better data for evidence-based policymaking; and improved integration of science, technology and artificial intelligence.

The Kuwait Declaration stresses the need for greater regional cooperation to support crisis-affected countries; call for an inclusive approach that engages governments, civil society and the private sector in reducing disaster risks and protecting communities.

Announcing the adoption of the Kuwait Declaration, Ambassador Khalil Ebrahim Al-Thawadi, Assistant Secretary-General for Arab Affairs and National Security for the League of Arab States, said the Platform, and its Declaration, signalled a “big leap forward” for resilience in the region.

“I urge you to take all of the lessons from this Platform, and to transform them into real actions on the ground,” he told the assembled delegates.

Time is of the essence

In his closing remarks, SRSG Kamal Kishore thanked the State of Kuwait for hosting the event, and praised the region for its innovation in disaster risk reduction:

“Take the good practices from this region and share them with the world. With just five years left to achieve the goals of the Sendai Framework – if this region can make it happen, then the world can make it happen,” he said

With more than 450 participants from governments, UN agencies, civil society, academia, and the private sector, the 6th Arab Regional Platform for DRR will help strengthen the region’s capacity to prevent and mitigate disasters, for a safer and more resilient future for all.

“You have to change this region, but you also have to change the world,” Mr Kishore said.

The Platform will feed the region’s challenges, solutions, and commitments into the Global Platform for Disaster Risk Reduction, taking place in Geneva from 2–6 June 2025.

MIL OSI United Nations News –
February 13, 2025
MIL-OSI Security: Nashville Man Charged with being a Felon in Possession of a Firearm Following Robbery at the Mall at Green Hills

Source: Office of United States Attorneys

NASHVILLE – Omari Rashad Moore, 30, of Nashville, has been charged by criminal complaint with being a felon in possession of a firearm as part of a shooting incident near the Green Hills mall, announced Acting United States Attorney Robert E. McGuire for the Middle District of Tennessee.

“Citizens in our community need to feel confident that they can go shopping at a mall without fearing gunfire,” said McGuire. “We are unwavering in our commitment to secure a safe city and hold those who would threaten that safety fully accountable for their actions.”

According to the complaint, on February 4, 2025, officers with the Metropolitan Nashville Police Department (“MNPD”) responded to the Mall at Green Hills in Nashville, in response to a possible robbery and shots-fired complaint. As the officers responded, 911 dispatch also received a complaint about a shooting near the I– 65 South and I–440 Interstate interchange in Nashville, which is about five miles driving distance from the Mall.

When MNPD officers arrived at the Mall, they found two .10 millimeter cartridge casings on the ground along with a high capacity magazine containing .10 millimeter ammunition near where the shooting and robbery had occurred. Officers could not locate a victim or suspect of the shooting at the Mall. About that time, MNPD officers arrived in the area of the I–65 South and I–440 Interstate interchange and saw a silver Tesla, which had been traveling away from the direction of the Mall, that had crashed into a tree. MNPD officers recovered two Louis Vuitton bags from inside the Tesla and located two men near the crash scene, who were later identified as Moore and SUBJECT 1. A bystander, who witnessed the aftermath of the crash, told MNPD officers that he/she had seen Moore approach a nearby guardrail on foot after the Tesla crashed. MNPD officers found a Glock Model: 29, Caliber: .10 millimeter pistol with the magazine missing near the guardrail.

SUBJECT 1 had multiple gunshot wounds and was transported to Vanderbilt Hospital by emergency medical services, where he was pronounced dead a short time later.

MNPD Detectives reviewed security footage of the robbery and shooting at the Mall. It showed a man walking away from the mall carrying two shopping bags. As he approached his car, a silver Tesla drove up to and stopped near the man’s car. A man, later identified as Moore, got out of the Tesla with an object in his pocket that was consistent with the appearance of a handgun loaded with a high-capacity magazine. Moore approached the other man’s car, and they fought before the other man broke free and ran. Moore then leaned into the other man’s car, then ran back to the Tesla carrying the two shopping bags.

Moore has multiple prior felony convictions in Henderson County and Davidson County, Tennessee.

If convicted, Moore faces a maximum of 15 years in federal prison and a $250,000 fine.

This case is being investigated by the Metropolitan Nashville Police Department and the Bureau of Alcohol, Tobacco, Firearms and Explosives. Assistant U.S. Attorney Zachary T. Hinkle is prosecuting the case.

A federal complaint is merely an allegation. The defendant is presumed innocent until proven guilty in a court of law.

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MIL Security OSI –

February 13, 2025
MIL-OSI NGOs: Munich Security Conference: Amnesty’s Secretary General calls on states to resist attacks on human rights protections

Source: Amnesty International –

Amnesty International’s Secretary General Agnès Callamard will be attending the Munich Security Conference from 14 to 16 February, where she will be available for interview and will call on world leaders and senior officials to resolutely come together to resist attacks on human rights and the global multilateral architecture and avoid further harm to human rights protections and the rules-based order.

“The past 12 months have laid bare precisely how hellish the world can be when states don’t apply universal standards and insist that international law and multilateral decisions do not apply to their actions. Consider Israel’s genocide against Palestinians in Gaza, Russia’s ongoing war of aggression against Ukraine, the conflict still raging in Sudan, the worsening catastrophe in Myanmar, and the recent uptick in fighting in the Democratic Republic of Congo,” Agnès Callamard said.

“Following the long overdue ceasefire in Gaza and the transition of power in Syria, the question turns to how lasting peace and justice can be achieved in such contexts. States must commit their full support to bodies like the International Court of Justice and the International Criminal Court in their efforts to uphold the law, as failure to hold perpetrators accountable will only embolden other aggressors and fuel further cycles of violence and destruction.

The past 12 months have laid bare precisely how hellish the world can be when states don’t apply universal standards and insist that international law and multilateral decisions do not apply to their actions.

Agnès Callamard, Amnesty International’s Secretary General

“In these precarious times, humanity can ill afford further breakdowns in the international order. We do not need more instability, division or turmoil; we do not need more attacks on human rights values and further undermining of our already fragile commitments to address climate change. We need sustainable, future-focused solutions. The multilateral system may be failing us, but the answer is not to abandon it to the abyss. The answer is to strengthen and reform it, grounding it in a common vision so it can make good on its promise of global stability and universal human rights protections. The Munich Security Conference presents a timely opportunity for world leaders to begin to address these challenges and pave the way for a future free of the harrowing conflicts that blight today’s world.”

MIL OSI NGO –

February 13, 2025
MIL-OSI USA: Tuberville, Paul Affirm Alabamians’ Right-to-Work

US Senate News:

Source: United States Senator Tommy Tuberville (Alabama)
WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) joined U.S. Senator Rand Paul (R-KY) in reintroducing the National Right to Work Act to preserve and protect the rights of individual employees to choose whether or not to form, join, or assist labor organized unions.
Sen. Tuberville cosponsored this legislation last Congress.
“No one should be peer pressured or forced to join a union,” said Sen. Tuberville.“That may work in some states, but not in Alabama. Alabama workers should have the freedom to do what is best for them and their families. I’m proud to partner with Sen. Paul to stand up for Alabama’s Right-to-Work laws.”
“The National Right to Work Act ensures all American workers have the ability to choose to refrain from joining or paying dues to a union as a condition for employment,” said Sen. Paul. “Kentucky and 26 other states have already passed Right-to-Work laws. It’s time for the federal government to follow their lead.”
Joining U.S. Senators Tuberville and Paul are U.S. Senators John Barrasso (R-WY), Katie Britt (R-AL), Ted Budd (R-NC), Mike Crapo (R-ID), Ted Cruz (R-TX), Chuck Grassley (R-IA), Cindy Hyde-Smith (R-MS), James Lankford (R-OK), Mike Lee (R-UT), Cynthia Lummis (R-WY), Pete Ricketts (R-NE), Mike Rounds (R-SD), Rick Scott (R-FL), Tim Scott (R-SC), and Thom Tillis (R-NC).
Read full text of the legislation here.
BACKGROUND:Alabama is one of 28 Right-to-Work states that have enacted laws to protect employees from forced union membership. Sen. Tuberville has long advocated to put more power in the people’s hands, not the federal government. This legislation does not add to existing federal law but instead deletes existing federal forced unionism provisions.
The National Right to Work Act repeals six statutory provisions that allow private-sector workers and airline and railroad employees to be fired if they don’t surrender part of their paychecks to a union. Sens. Tuberville and Paul’s legislation will put bargaining power back where it belongs: in the hands of the American workers.
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP, and Aging Committees.

MIL OSI USA News –

February 13, 2025
MIL-OSI United Kingdom: Trefusis Park works to begin this year

Source: City of Plymouth

Work to transform Trefusis Park into a green solution to nearby flooding issues is set to begin later this year.

The scheme, which was consulted on for a second time in 2024, will see the park become home to a new sustainable drainage system.

As part of the works a seasonal wetland area will be installed to help reduce the risk of flooding to homes and businesses in the local area by safely storing water during heavy rainfall.

Having received funding for the scheme from the Environment Agency, we are working towards appointing a contractor in the near future, with the aim of starting work in in the Spring.

Councillor Tom Briars-Delve, Cabinet Member for the Environment and Climate Change, said: “I’m really pleased that this project is able to progress and that we’ll be able to get spades in the ground in the very near future.

“This project is not just crucial from an aesthetics and nature point of view but it’s also a key natural solution to flooding.

“We see time and again what happens when there is heavy rainfall in this area and I hope that residents and businesses in Lipson Vale will welcome this news.”

The Trefusis Park Flood Relief Scheme has been in development for several years.

It will provide new wildlife-rich habitats, including the planting of new trees and hedgerow, as well as new paths and seating. In addition, a new amenity pond will be created on the site of the old lake at the southern end of the park. A new half-sized basketball court will also be installed.

The scheme is required to alleviate flooding in Lipson Vale, particularly at its junction with Bernice Terrace, which has seen high rainfall cause persistent flooding for many years.

The seasonal wetland basins within the park will store surface water during heavy rainfall, which will then be slowly released back into the drainage system once the rain has passed and the system has capacity again. This will enable the drainage system downstream of the park to cope better and will also mean that roads and pavements will be less likely to close because of flood water.

The scheme will also allow South West Water to carry out work to stop surface water entering the combined foul sewer upstream of the park. This will further reduce the risk of flooding and improve water quality in the River Plym by reducing the number of combined sewer overflow (CSO) spills that occur during heavy rainfall.

Once South West Water’s works have been completed, 147 homes in the Lipson Vale area will be better protected from flooding.

A consultation on the scheme initially took place in November/December 2021 and with the feedback gathered, detailed designs and further environmental plans and surveys were produced. It soon became apparent that to continue with the scheme in its original form, nearly 100 trees would need to be felled, which was clearly at odds with the environmental focus of the project.

As a result, and following advice from a specialist arboriculturist, a revised design was drawn up, which while still requiring the removal of five trees, significantly reduces the amount that need to be felled. A second public consultation on the revised design took place in October 2024.

The five trees that need to be removed are set to be felled in late February 2025.

The Trefusis Park Ponds Project is being delivered by Plymouth City Council in partnership with the Environment Agency and South West Water,

More details about the scheme and ways in which you can share your views can be found at: www.plymouth.gov.uk/trefusisparkfloodreliefscheme

MIL OSI United Kingdom –

February 13, 2025
MIL-OSI USA: 15 Years Ago: STS-130 Delivers Tranquility and Cupola to Space Station

Source: NASA

On Feb. 8, 2010, space shuttle Endeavour began its 24th trip into space, on the 20A assembly mission to the International Space Station, the 32nd shuttle flight to the orbiting lab. The STS-130 crew included Commander George Zamka, Pilot Terry Virts, and Mission Specialists Kathryn Hire, Stephen Robinson, Nicholas Patrick, and Robert Behnken. During the nearly 14-day mission, they worked jointly with the five-person Expedition 22 crew during nearly 10 days of docked operations. The mission’s primary objectives included delivering the Tranquility module and the cupola to the space station, adding 21 tons of hardware to the facility. Behnken and Patrick conducted three spacewalks to aid in the installation of Tranquility.

Endeavour rolled out to Launch Pad 39A on Jan. 6, 2010, targeting a Feb. 7 launch. The crew arrived at NASA’s Kennedy Space Center in Florida on Feb. 3 to prepare for launch. Inclement weather delayed the initial launch attempt by 24 hours. On Feb. 8, at 4:14 a.m. EST, space shuttle Endeavour lifted off, carrying its six-person crew. The flight marked Robinson’s fourth trip into space, previously serving as a mission specialist on STS-85, STS-95, and STS-114, Zamka’s, Hire’s, Patrick’s, and Behnken’s second time in space, having flown on STS-120, STS-90, STS-116, and STS-123, respectively, while Virts enjoyed his first taste of weightlessness.

After reaching orbit, the astronauts opened the payload bay doors, deployed the shuttle’s radiators, and removed their bulky launch and entry suits, stowing them for the remainder of the flight. They spent six hours on their second day in space conducting a detailed inspection of Endeavour’s nose cap and wing leading edges, taking turns operating the shuttle remote manipulator system, or robotic arm, and the Orbiter Boom Sensor System.
On the mission’s third day, Zamka assisted by his crewmates brought Endeavour in for a docking with the space station. During the rendezvous, Zamka stopped the approach at 600 feet and completed a pitch maneuver so astronauts aboard the station could photograph Endeavour’s underside to look for any damage to the tiles. Zamka then manually guided Endeavour to a docking at the Pressurized Mating Adapter-2 attached to the Harmony module. After docking, the crews opened the hatches and the five-person station crew welcomed the six-member shuttle crew. Patrick and Expedition 22 Flight Engineer Timothy “T.J.” Creamer used the space station robotic arm to remove the inspection boom and hand it off to the shuttle arm operated by Hire and Virts. At the end of the day, Behnken and Partick entered the station’s airlock, reduced its pressure and breathed pure oxygen for an hour before and an hour after sleep to rid their bodies of nitrogen to prevent the bends.

The astronauts completed the major transfer activity of the mission on flight day five, a highly choreographed spacewalk and robotics effort to move the Tranquility and cupola modules from the shuttle to the station. Behnken and Patrick exited the airlock to begin the mission’s first excursion, first venturing to the shuttle payload bay to remove launch locks from Tranquility. Virts and Hire used the station arm to remove the joined modules from the payload bay and attach it to the Unity module’s port side. Behnken and Partick connected temporary heater and data cables to the new module. This first spacewalk lasted six hours 32 minutes. The next day, the joint crews began outfitting Tranquility and preparing to relocate the cupola from the end of the module to its Earth-facing port.
On the mission’s seventh day, some of the astronauts continued outfitting and configuring the new modules. In the meantime, Behnken and Patrick stepped outside for a five-hour 54-minute excursion, to install ammonia coolant loops and thermal blankets to protect the ammonia hoses, and outfitted Tranquility’s Earth-facing port to accept the cupola.

The next day, Hire and Virts, assisted by Expedition 22 Commander Jeffery Williams, used the station’s robotic arm to relocate the cupola. On flight day 9, Behnken and Patrick operated the station arm to relocate the Pressurized Mating Adapter-3 from Harmony to Tranquility. The crews continued internal cargo transfers and began outfitting the cupola.
On the mission’s 10th day, Patrick and Behnken completed their third and final spacewalk. During the five-hour 48-minute excursion, they removed thermal blankets and launch locks from the cupola, installed handrails, connected the second cooling loop on Tranquility, and connected heater and data cables. Inside the cupola, Hire and Virts installed the robotics workstation. Across their three spacewalks, Behnken and Patrick spent 18 hours 14 minutes outside.

The crews spent flight day 11 outfitting Tranquility with systems racks and other equipment moved from the Destiny U.S. Laboratory module. Virts finished installing robotic workstation equipment in the Cupola. Behnken and Partick transferred their spacesuits back to the shuttle for return to Earth. The crew received a phone call from President Barack Obama and several schoolchildren. Zamka and Virts used the shuttle’s thrusters to reboost the space station.
The next day, after holding a news conference with reporters on the ground, shuttle commander Zamka and station commander Williams held a ribbon-cutting ceremony to formally declare Tranquility and the cupola open for business. After a final meal together, the two crews held a farewell ceremony, returned to their respective spacecraft, and closed the hatches.

On flight day 13, with Virts at the controls, Endeavour undocked from the space station, having spent nearly 10 days as a single spacecraft. The astronauts used the shuttle’s arm and boom sensors to perform a late inspection of Endeavour’s thermal protection system. On flight day 14, Zamka and Virts tested the orbiter’s reaction control system thrusters and flight control surfaces in preparation for the next day’s entry and landing.
On Feb. 22, Hire and Robinson closed Endeavour’s payload bay doors. The six astronauts donned their launch and entry suits and strapped themselves into their seats. Zamka and Virts fired Endeavour’s two Orbital Maneuvering System engines to bring them out of orbit and Zamka guided Endeavour to a smooth touchdown at Kennedy’s Shuttle Landing Facility. The landing capped off a successful mission of 13 days, 18 hours, six minutes and 217 orbits of the Earth. Workers at Kennedy towed Endeavour to the processing facility to prepare it for its next and final flight, STS-134 in May 2011, and the astronauts returned to Houston for a welcoming ceremony at Ellington Field.
Watch the crew narrate a video about the STS-130 mission.

MIL OSI USA News –

February 13, 2025
MIL-OSI USA: NASA Fire Safety Test Took on Reduced Gravity

Source: NASA

An experiment studying how solid materials catch fire and burn in the Moon’s gravity was launched on Blue Origin’s New Shepard suborbital flight this month.
Developed by NASA’s Glenn Research Center in Cleveland together with Voyager Technologies, the Lunar-g Combustion Investigation (LUCI) will help researchers determine if conditions on the Moon – with reduced gravity – might be a more hazardous environment for fire safety.

[embedded content]
The video shows a plastic rod and cotton-fiberglass fabric being burned during a ground test of the Lunar-g Combustion Investigation (LUCI) experiment. Scientists will compare the ground test video to the video recorded on the Blue Origin flight. Credit: Voyager Technologies

On this flight, LUCI tested flammability of cotton-fiberglass fabric and plastic rods, and once launched, the payload capsule rotated at a speed to simulate lunar gravity. NASA Glenn researchers will analyze data post-flight.

LUCI’s findings will help NASA and its partners design safe spacecraft and spacesuits for future Moon and Mars missions.
For more information on LUCI and the mission, visit.

MIL OSI USA News –

February 13, 2025
MIL-OSI USA: Unicoi County’s Ballad Health Hospital Awarded $9.8 Million to Rebuild After Helene Flooding

Source: US Federal Emergency Management Agency

Headline: Unicoi County’s Ballad Health Hospital Awarded $9.8 Million to Rebuild After Helene Flooding

Unicoi County’s Ballad Health Hospital Awarded $9.8 Million to Rebuild After Helene Flooding

The State of Tennessee and FEMA have approved $9.8 million to replace Ballad Health’s hospital in rural Erwin which was destroyed when Tropical Storm Helene swept across Eastern Tennessee in late September. The 10 in-patient bed hospital, which sits along the banks of the Nolichucky River in the southern Appalachian mountains, has been serving the local community and surrounding agricultural area since 1953. Over the years, it has expanded and modernized, offering bone density testing, echocardiography, the latest diagnostic imaging technology and a sleep medicine lab. The newest facility was completed in October 2018 at a cost of $30 million.Helene’s floodwaters encircled the Ballad Health hospital on Sept. 27, rising at least 8 feet inside the single-story building, racing through examining rooms, labs and patient rooms. Trained hospital and National Guard pilots used helicopters to airlift patients and staff to safety from the roof. Emergency workers also rescued dozens of people by boat to a nearby high school. Under FEMA’s Public Assistance program, FEMA’s share to rebuild the hospital is $7,389,240; the nonfederal share is $2,463,080. Work to be completed includes architectural and engineering design services that use modern best construction practices and applicable codes and standards.The cost estimate for replacing the hospital was generated using FEMA’s Rapid Assessment with Public Infrastructure Data, which uses geospatial and aerial imagery as well as available Federal Highway Administration and State Department of Transportation data. The scope of work will be updated when the surveys and assessments are completed. Because Public Assistance is a cost-sharing program, FEMA reimburses state applicants 75% of the eligible costs of repairs to existing structures. The federal share is paid directly to the state to disburse to agencies, local governments and certain private nonprofit organizations that incurred those costs. The remaining 25% represents nonfederal funds.The Public Assistance program is FEMA’s largest grant program, providing funding to help communities responding to and recovering from major presidentially declared disasters or emergencies. Helene swept across Tennessee Sept. 26-30 and the president approved a major disaster declaration on Oct. 2, allowing FEMA to pay for disaster-damaged infrastructure.
kwei.nwaogu
Wed, 02/12/2025 – 19:58

MIL OSI USA News –

February 13, 2025
MIL-OSI Security: Career Offender Sentenced to 22 Years in Prison for Armed Drug Trafficking

Source: Office of United States Attorneys

Defendant has Seven Prior Felonies in Athens-Clarke, Gwinnett, Middle District of Georgia

ATHENS, Ga. – A Northeast Georgia resident with a lengthy criminal history who was serving federal supervised release when officers found him illegally possessing a firearm and trafficking cocaine was sentenced to serve 22 years in prison today.

Mandrell Antwoin Hull, 44, of Winterville, Georgia, was sentenced to serve 264 months in prison to be followed by five years of supervised release by U.S. District Judge Tilman E. “Tripp” Self, III on Feb. 12. Hull previously pleaded guilty to one count of possession with intent to distribute cocaine and one count of possession of a firearm by a convicted felon on July 22, 2024. There is no parole in the federal system.

“We must hold repeat offenders accountable when they illegally arm themselves and violate the laws put in place to maintain order and safety for everyone,” said Acting U.S. Attorney C. Shanelle Booker. “Our dedicated federal prosecutorial team continues to work alongside our local, state and federal law enforcement partners to help ensure their efforts result in justice.”

“Criminals like Hull continue to plague our communities with blatant disregard for the safety of others and reckless indifference to the law. It is only through our local and federal partnerships that we are able to put a stop to these violent repeat offenders,” said Robert Gibbs, Senior Supervisory Special Agent of FBI Atlanta’s Athens office. “This case is another example of how the FBI and our law enforcement partners are dedicated to keeping the streets of Georgia safe for everyone in our community.”

According to court documents and statements referenced in court, Hull was serving supervised release for a 2018 federal conviction for marijuana distribution in Case No. 3:17-CR-24-CAR. On April 11, 2023, officers with the United States Probation Office (USPO) reached out to the FBI in Athens to request their assistance in conducting a search of Hull’s residence in Oglethorpe County, Georgia, because USPO believed that Hull was storing illegal drugs inside his residence. That same day, agents and officers searched his Winterville property and located cocaine, $32,826 in drug proceeds and a loaded 9mm pistol. Records show that Hull has five prior felony convictions in the Superior Court of Athens-Clarke County and one prior felony conviction in the Superior Court of Gwinnett County, in addition to his prior federal felony conviction for which he was serving supervised release at the time of this crime. It is illegal for a convicted felon to possess a firearm.

This case is a part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department of Justice launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities and measuring the results.

The case was investigated by the FBI Athens Resident Agency Middle Georgia Safe Streets Gang Task Force and the Oglethorpe County Sheriff’s Office.

Assistant U.S. Attorney Mike Morrison prosecuted the case for the Government.

MIL Security OSI –

February 13, 2025

Category: Natural Disasters

Revving up for higher car costs

Increased prices are no yoke! (groan)

It was a bittersweet reunion for two firefighter cousins who crossed paths while battling the Western Victoria fires, with one lending a hand from ACT and the other a local to the region.

Source: Fire and Emergency New Zealand

Padilla Leads Effort Demanding Trump Reverse Illegal Firing of Independent FEC Chair

Concerns Raised over Discrimination against Women, Minorities

Transboundary risks need transboundary solutions

Innovative financing and early warnings

An appeal for collective action

Better governance and more investment in risk reduction

Innovative, actionable strategies

Regional cooperation to implement the Sendai Framework

Time is of the essence