Category: Politics

MIL-OSI: Enerflex Ltd. Announces Voting Results of The Annual Meeting of Shareholders

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, May 07, 2025 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”), announces that at its Annual Meeting of Shareholders (the “Meeting”) held virtually on May 7, 2025, Enerflex’s shareholders approved the election of all 8 nominee directors presented in the Company’s Management Information Circular dated March 21, 2025. The shares represented at the Meeting voting on individual nominee directors were as follows:


	Approval		Against
Director	Votes For	Percentage	Votes Against	Percentage
Fernando R. Assing	88,086,739	96.24%	3,444,156	3.76%
Benjamin Cherniavsky	88,013,957	96.16%	3,516,938	3.84%
Joanne Cox	83,911,502	91.68%	7,619,393	8.32%
James C. Gouin	83,037,269	90.72%	8,493,626	9.28%
Mona Hale	88,091,517	96.24%	3,439,378	3.76%
Kevin J. Reinhart	79,599,459	86.96%	11,931,436	13.04%
Thomas B. Tyree, Jr.	74,636,089	81.54%	16,894,806	18.46%
Juan Carlos Villegas	79,933,294	87.33%	11,597,601	12.67%

Enerflex’s non-binding advisory vote on executive compensation (“Say-on-Pay”) was approved with 91.59% (83,831,845 common shares) of the shares represented at the Meeting voting in favour of the resolution.

ABOUT ENERFLEX

Enerflex is a premier integrated global provider of energy infrastructure and energy transition solutions, deploying natural gas, low-carbon, and treated water solutions – from individual, modularized products and services to integrated custom solutions. With over 4,600 engineers, manufacturers, technicians, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future. The Company remains committed to the future of natural gas and the critical role it plays, while focused on sustainability offerings to support the energy transition and growing decarbonization efforts.

Enerflex’s common shares trade on the Toronto Stock Exchange under the symbol “EFX” and on the New York Stock Exchange under the symbol “EFXT”. For more information about Enerflex, visit www.enerflex.com.

For investor and media enquiries, please contact the Company by email to chair@enerflex.com or ir@enerflex.com.

The MIL Network –

May 8, 2025

MIL-OSI Russia: Financial news: New basis for calculating the zero-coupon yield curve for government bonds comes into force on May 15, 2025

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

From May 15, 2025, a new composition of the calculation base for the Zero-coupon yield curve of government bonds (federal loan bonds) will come into effect.

The calculation basis for the zero-coupon yield curve of government bonds, effective from 15.05.2025

No.	Name	State registration number
1	OFZ 26234	SU26234RMFS3
2	OFZ 26229	SU26229RMFS3
3	OFZ 26219	SU26219RMFS4
4	OFZ 26226	SU2626RMFS9
5	OFZ 26207	SU26207RMFS9
6	OFZ 26232	SU26232RMFS7
7	OFZ 26212	SU26212RMFS9
8	OFZ 26242	SU26242RMFS6
9	OFZ 26228	SU2628RMFS5
10	OFZ 26218	SU26218RMFS6
11	OFZ 26241	SU26241RMFS8
12	OFZ 26221	SU26221RMFS0
13	OFZ 26244	SU26244RMFS2
14	OFZ 26225	SU26225RMFS1
15	OFZ 26233	SU26233RMFS5
16	OFZ 26240	SU26240RMFS0
17	OFZ 26243	SU26243RMFS4
18	OFZ 26230	SU26230RMFS1
19	OFZ 26238	SU26238RMFS4
20	OFZ 26239	SU26239RMFS2
21	OFZ 26247	SU26247RMFS5
22	OFZ 26236	SU26236RMFS8
23	OFZ 26237	SU26237RMFS6
24	OFZ 26248	SU26248RMFS3
25	OFZ 26235	SU26235RMFS0
26	OFZ 26224	SU26224RMFS4
27	OFZ 26246	SU26246RMFS7

Detailed information on the zero-coupon yield curve for government bonds (federal loan bonds) is available on the exchange’s website HTTP: //moex.Kom/a3642

Contact information for media 7 (495) 363-3232Pr@moex.kom

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //VVV. MOEX.K.M.M.

MIL OSI Russia News –

May 8, 2025

MIL-OSI USA: Gillibrand Sounds Alarm About Trump Administration’s Decision To Terminate Program That Helps Prevent Opioid Overdoses

US Senate News:

Source: United States Senator for New York Kirsten Gillibrand
In 2024, This Program Distributed Over 280,000 Kits Containing The Opioid Overdose Reversal Medication Naloxone – Often Known As Narcan
New York Law Enforcement Has Administered Naloxone Over 12,000 Times Since The Program Began In 2014
Gillibrand: ”Terminating A Proven Tool Without Clear, Transparent Justification Places Countless Lives At Needless Risk”
U.S. Senator Kirsten Gillibrand is condemning the U.S. Department of Health and Human Services’ (HHS) plans to terminate a program that distributes and provides training to administer the opioid overdose reversal medication naloxone. The program in jeopardy provides $56 million annually under the First Responders-Comprehensive Addiction and Recovery Act for the distribution of naloxone to law enforcement, community-based organizations, and tribes across the country. If terminated, first responders and organizations will lose a highly effective resource that has saved thousands of lives.
“With the ongoing challenges posed by the opioid crisis, it is critical that the federal government’s actions are guided by public health expertise and a commitment to sustaining the momentum behind federal policy and funding that is working,” said Senator Gillibrand. “It is imperative that HHS’s actions support, rather than undermine, local efforts by municipalities and first responders to respond. Terminating a proven tool without clear, transparent justification places countless lives at needless risk. Our communities will bear the cost: in lives lost, in families broken, and in public trust further eroded.”
Gillibrand called on HHS Secretary Robert F. Kennedy Jr. to answer the following questions to ensure that the agency has a clear understanding of the dangers of terminating this funding:
Provide a detailed explanation for how the Administration intends to sustain investments in opioid overdose mitigation strategies that support and equip first responders?
If funding for this program is being reallocated, what new initiatives or priorities will those resources support?

Has HHS consulted with any stakeholders before planning to terminate this program? Please detail how HHS has solicited feedback from the following groups:
First responders;
Public health officials, including state and local officials;
Medical professionals, including substance use disorder treatment professionals.

How does HHS plan to address the potential disproportionate impact on medically underserved and rural communities who depend on well-equipped first responders for medical emergencies?
Has HHS conducted an analysis of the potential public health impact, particularly on overdose survival rates, resulting from the termination of this program? If so, please provide any analysis done.
A full copy of Senator Gillibrand’s letter can be found here and below.
Dear Secretary Kennedy,
I write to express profound concern regarding reports that the administration is planning to terminate a $56 million annual grant program under the First Responders-Comprehensive Addiction and Recovery Act that distributes and provides training to administer the opioid overdose reversal medication, naloxone. If terminated, first responders would lose a highly effective resource that can help save countless lives.
In 2024 alone, this critical program distributed more than 282,500 naloxone kits to cities, community-based organizations, and tribes across the country. Opioid-related overdoses and deaths in the United States have fallen to their lowest since 2020, due in part to the wider availability of naloxone and its distribution to first responders underscoring how impactful treatment programs like this are in saving lives and combatting the opioid crisis. From 2020 to July 2022, New York State law enforcement personnel administered naloxone an average of 141 times a month. Put another way, every five hours, one New Yorker had a trained, well-equipped first responder to thank for saving their life.
The long-term successes of this funding support cannot be overstated; by Substance Abuse and Mental Health Services Administration’s (SAMHSA) own accounting, more than 150,000 first responders have undergone naloxone training, and more than 90,000 overdoses have been reversed since 2017. Opioid deaths are preventable and every additional first responder trained and equipped in New York, especially in medically underserved communities, has been a game changer.
With the ongoing challenges posed by the opioid crisis, it is critical that the federal government’s actions are guided by public health expertise and a commitment to sustaining the momentum behind federal policy and funding that is working. It is imperative that HHS’s actions support, rather than undermine, local efforts by municipalities and first responders to respond. Terminating a proven tool without clear, transparent justification places countless lives at needless risk. Our communities will bear the cost: in lives lost, in families broken, and in public trust further eroded.
Given the public good SAMHSA naloxone distribution and training grant programs provide, and the clear dangers of unilaterally terminating this funding, I request a written response to the following inquiries by May 16, 2025:
Provide a detailed explanation for how the Administration intends to sustain investments in opioid overdose mitigation strategies that support and equip first responders?
If funding for this program is being reallocated, what new initiatives or priorities will those resources support?

Has HHS consulted with any stakeholders before planning to terminate this program? Please detail how HHS has solicited feedback from the following groups:
First responders;
Public health officials, including state and local officials;
Medical professionals, including substance use disorder treatment professionals.

How does HHS plan to address the potential disproportionate impact on medically underserved and rural communities who depend on well-equipped first responders for medical emergencies?
Has HHS conducted an analysis of the potential public health impact, particularly on overdose survival rates, resulting from the termination of this program? If so, please provide any analysis done.
Thank you for your attention to this matter and I look forward to hearing from you.

MIL OSI USA News –

May 8, 2025

MIL-OSI: Athabasca Oil Announces 2025 First Quarter Results Highlighted by 63% Growth in Funds Flow Per Share and Strong Operational Execution Driving a Robust Return of Capital Program

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, May 07, 2025 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its first quarter results highlighted by strong operational execution driving robust return of capital with the full completion of its second annual share buyback program. The Company is in an enviable position to weather market volatility with low corporate break-evens, long-life assets and a pristine balance sheet.

Q1 2025 Consolidated Corporate Results

Production: Average production of 37,714 boe/d (98% Liquids), representing 13% (24% per share) growth year over year.
Cash Flow: Adjusted Funds Flow of $130 million ($0.25 per share), representing 63% per share growth year over year. Cash Flow from Operating Activities of $123 million. Free Cash Flow of $71 million from Athabasca (Thermal Oil).
Capital Program: $63 million total capital expenditures, with $44 million at Leismer as the Company advances the 40,000 bbl/d progressive growth project.

Operations Highlights

Leismer: Production of ~28,000 bbl/d (April 2025) following the start-up of six redrills in the first quarter. Four additional new well pairs will be brought on stream in H2 2025 to maintain production rates at facility capacity.
Hangingstone: Production has increased to ~8,900 bbl/d (April 2025) following the start-up of two well pairs. The project continues to deliver meaningful free cash flow generation for the Company.
Duvernay Energy: Two multi-well pads (seven gross wells) are slated to be completed post break-up and will continue operational momentum in the Kaybob Duvernay play. Capital is trending ~$10 million lower than the 2025 budget at an estimated ~$75 million.

Resilient Producer in a Shifting Global Landscape

Macro Volatility: Global oil benchmarks have softened in recent months in response to an accelerated OPEC+ supply outlook and evolving U.S. trade policy. Athabasca is uniquely positioned to withstand market volatility and its production is USMCA compliant and exempt from U.S. tariffs.
Pristine Balance Sheet & Tax Free Horizon: Athabasca has a Net Cash position of $115 million, strong Liquidity of $438 million (including $305 million cash) and a long dated maturity of 2029 on its term debt. The Company has $2.2 billion of tax pools (~80% high-value and immediately deductible).
Low Decline, Long Life Assets: Athabasca is uniquely positioned with a low base corporate decline and the Company expects to maintain Thermal Oil production in 2025 following recent capital projects. Athabasca has a deep inventory across its portfolio including 1,209 MMbbl of Proved plus Probable Thermal Oil reserves and ~444 gross future drilling locations within Duvernay Energy.
Low Break-evens: Long-life, low decline assets afford Athabasca with a sustaining capital advantage. The Company’s 2025 Thermal Oil operating break-even is estimated at ~US$32/bbl WTI and the capital program which includes growth initiatives is fully funded within cash flow down to ~US$48/bbl WTI for the balance of the year. The Company estimates long term sustaining capital investment of ~C$8/bbl (five‐year annual average) to hold production flat.
Flexible Capital: The Thermal Oil capital projects are flexible, highly economic and have optionality to be recalibrated based on the macroeconomic environment. Duvernay Energy retains significant flexibility on the pace of its operations and is positioned with an independent balance sheet and no near-term land expiries.
Sound Heavy Oil Fundamentals: The outlook for Canadian heavy oil remains strong supported by the Trans Mountain Expansion pipeline start-up in May 2024 and sustained global refining demand. This has resulted in tighter and less volatile WCS heavy differentials with spot markets currently trading at ~US$9/bbl. Athabasca is a direct beneficiary of structurally tighter differentials that are forecasted to hold in the coming years.

Durable Shareholder Returns

Full Execution of Second Normal Course Issuer Bid (“NCIB”): On March 17, the Company fully completed its second annual NCIB, returning $289 million to shareholders and purchasing and cancelling 55 million shares.
Continued 100% of Free Cash Flow (Thermal Oil) Return to Shareholders through Buybacks in 2025: The Company renewed its third annual NCIB with capacity to repurchase up to 50 million shares. The Company has completed $94 million in share buybacks year to date. Athabasca has reduced its fully diluted share count by ~20% since March 31, 2023.
Durable Shareholder Returns: The Company’s capital allocation framework will continue to balance near-term return of capital initiatives for shareholders with a multi-year growth trajectory of cash flow per share. The Company sees significant intrinsic value not reflected in the current share price and intends to remain active with its share buyback strategy.

Strategic Update and Corporate Guidance

Athabasca (Thermal Oil): The Thermal Oil division underpins the Company’s strong Free Cash Flow outlook, with production guidance of 33,500 – 35,500 bbl/d and a ~$250 million capital budget. Athabasca has differentiated and significant unrecovered capital balances on its Thermal Oil Assets that ensure a low Crown royalty framework (~7%¹). Leismer is forecasted to remain pre-payout until late 2027¹ (and beyond with incremental project capital) while Hangingstone is forecasted to remain pre-payout beyond 2030¹.
Consolidated Production Outlook: Athabasca’s consolidated annual production guidance is 37,500 – 39,500 boe/d. Current production is ~40,000 boe/d and with current capital plans the Company is expecting to be at the upper end of guidance and anticipates exiting the year at ~41,000 boe/d.
Leismer Progressive Growth: The 2025 program at Leismer includes the tie-in of six redrills and four new well pairs on Pad 10 along with continued pad and facility expansion work for the progressive expansion to 40,000 bbl/d. This expansion project is highly economic (~$25,000/bbl/d capital efficiency) and provides flexibility with interim growth targets to ~32,000 bbl/d and ~35,000 bbl/d before achieving the regulatory approved 40,000 bbl/d capacity.
Duvernay Energy Corporation: The 2025 capital program of ~$75 million will continue production momentum in H2 2025 with an exit target of ~6,000 boe/d. Capital activity includes the completion of a 100% working interest (“WI”) three-well pad that was drilled in 2024, the drilling and completion of a 30% WI four-well pad (spud in Q1 2025) and the construction of a gathering system on operated lands. The capital program in Duvernay Energy Corporation is flexible and designed to be self-funded. The Company has a deep inventory of ~444 gross future drilling locations.
Free Cash Flow Focus: The Company forecasts consolidated Adjusted Funds Flow between $525 – $550 million¹, including $475 – $500 million from its Thermal Oil assets. Every +US$1/bbl move in West Texas Intermediate (“WTI”) and Western Canadian Select (“WCS”) heavy oil impacts annual Adjusted Funds Flow by ~$10 million and ~$17 million, respectively. The 2025 Thermal Oil capital program, including growth initiatives, is fully funded within cash flow down to ~US$48 WTI for the balance of the year. Duvernay Energy is independently funded through its balance sheet and cash flow.
Capital Allocation Discipline: Athabasca has demonstrated its business resiliency and prudent management through past commodity cycles. The Company is nimble with respect to its operating plans and has levers available to adjust to a volatile macro environment. Preserving a pristine balance sheet is paramount to the strategy.
Steadfast Focus on Cash Flow Per Share Growth: The Company forecasts ~20% compounded annual cash flow per share¹ growth between 2025 – 2029 driven by investing in attractive capital projects and prioritizing share buybacks with free cash flow.

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

¹2025 pricing assumptions: US$70 WTI, US$12.50 WCS heavy differential, C$2 AECO, and 0.725 C$/US$ FX.

Annual Shareholders Meeting

Athabasca will be hosting its Annual General Meeting of Shareholders (“Meeting”) on Thursday, May 8, 2025 at 8:00 am (MT). The Meeting will be hosted virtually and shareholders and guests can listen via live webcast with details available at:

https://www.atha.com/investors/presentation-events.html

Financial and Operational Highlights

	Three months ended March 31,
($ Thousands, unless otherwise noted)	2025			2024
CORPORATE CONSOLIDATED⁽¹⁾
Petroleum and natural gas production (boe/d)⁽²⁾		37,714			33,470
Petroleum, natural gas and midstream sales	$	367,844		$	311,116
Operating Income⁽²⁾	$	145,590		$	105,135
Operating Income Net of Realized Hedging⁽²⁾⁽³⁾	$	143,947		$	106,580
Operating Netback ($/boe)⁽²⁾	$	44.07		$	35.78
Operating Netback Net of Realized Hedging ($/boe)⁽²⁾⁽³⁾	$	43.57		$	36.27
Capital expenditures	$	63,333		$	76,011
Cash flow from operating activities	$	123,353		$	76,638
per share – basic	$	0.24		$	0.14
Adjusted Funds Flow⁽²⁾	$	129,675		$	87,772
per share – basic	$	0.25		$	0.15
ATHABASCA (THERMAL OIL)
Bitumen production (bbl/d)⁽²⁾		34,742			31,536
Petroleum, natural gas and midstream sales	$	362,375		$	305,041
Operating Income⁽²⁾	$	135,316		$	100,449
Operating Netback ($/bbl)⁽²⁾	$	44.56		$	36.36
Capital expenditures	$	50,376		$	42,119
Adjusted Funds Flow⁽²⁾	$	121,353		$	83,713
Free Cash Flow⁽²⁾	$	70,977		$	41,594
DUVERNAY ENERGY⁽¹⁾
Petroleum and natural gas production (boe/d)⁽²⁾		2,972			1,934
Percentage Liquids (%)⁽²⁾	73		%	72		%
Petroleum, natural gas and midstream sales	$	17,619		$	11,538
Operating Income⁽²⁾	$	10,274		$	4,686
Operating Netback ($/boe)⁽²⁾	$	38.42		$	26.63
Capital expenditures	$	12,957		$	33,892
Adjusted Funds Flow⁽²⁾	$	8,322		$	4,059
Free Cash Flow⁽²⁾	$	(4,635	)	$	(29,833	)
NET INCOME AND COMPREHENSIVE INCOME
Net income and comprehensive income⁽⁴⁾	$	72,004		$	38,609
per share – basic⁽⁴⁾	$	0.14		$	0.07
per share – diluted⁽⁴⁾	$	0.14		$	0.07
COMMON SHARES OUTSTANDING
Weighted average shares outstanding – basic		514,257,036			567,076,940
Weighted average shares outstanding – diluted		519,227,432			577,106,504

	March 31,		December 31,
As at ($ Thousands)	2025		2024
LIQUIDITY AND BALANCE SHEET (CONSOLIDATED)
Cash and cash equivalents	$	304,538	$	344,836
Available credit facilities⁽⁵⁾	$	133,074	$	136,324
Face value of term debt	$	200,000	$	200,000

^{(1) Corporate Consolidated and Duvernay Energy reflect gross production and financial metrics before taking into consideration Athabasca’s 70% equity interest in Duvernay Energy.}
^{(2) Refer to the “Advisories and Other Guidance” section within this News Release for additional information on Non-GAAP Financial Measures and production disclosure.}
^{(3) Includes realized commodity risk management loss of $1.6 million for the three months ended March 31, 2025 (three months ended March 31, 2024 – gain of $1.4 million).}
^{(4) Net income and comprehensive income per share amounts are based on net income and comprehensive income attributable to shareholders of the Parent Company.}
^{(5) Includes available credit under Athabasca’s and Duvernay Energy’s Credit Facilities and Athabasca’s Unsecured Letter of Credit Facility.}

Athabasca (Thermal Oil) Q1 2025 Highlights and Operations Update

Production: First quarter production of 34,742 bbl/d (27,025 bbl/d at Leismer & 7,717 bbl/d at Hangingstone).
Cash Flow: Adjusted Funds Flow of $121.4 million; Operating Income of $135.3 million with an Operating Netback of $44.56/bbl ($46.24/bbl at Leismer & $38.43/bbl at Hangingstone).
Capital Program: $50.4 million of capital expenditures in Q1, with $43.7 million at Leismer as the Company advances the 40,000 bbl/d progressive growth project.
Free Cash Flow: $71.0 million of Free Cash Flow supporting 100% return of capital commitment.

Leismer

In Q1 2025, the Company brought six extended redrills on Pad L1 (1,000 – 1,700 meter laterals) on production supporting current production of ~28,000 bbl/d (April 2025). The redrills target bypass pay on legacy pads with initial production rates between 400 – 1,000 bbl/d per well. In 2024, the Company drilled an additional four well pairs on Pad L10 that will maintain production rates at facility capacity for the balance of 2025. Another six well pairs will be drilled in H2 2025.

Activity at Leismer remains focused on advancing progressive growth to 40,000 bbl/d by the end of 2027. The project cost is estimated at $300 million generating a capital efficiency of approximately $25,000/bbl/d. The $300 million will be spent between 2025 and 2027 and includes an estimated $190 million for facility capital and an estimated $110 million for growth wells. The project remains on budget and on schedule with the original sanction plans announced in July 2024. The progressive build provides flexibility with interim growth targets to ~32,000 bbl/d and ~35,000 bbl/d before achieving the regulatory approved 40,000 bbl/d capacity. This winter the Company completed regional infrastructure to Pad L10 and L11 including lease site construction, delineation drilling and pipeline looping. The project scope includes the installation of two new steam generators that were countercyclically acquired during a prior commodity down cycle.

Leismer is forecasted to remain pre-payout from a crown royalty perspective until late 2027¹.

Hangingstone

At Hangingstone two extended reach sustaining well pairs (~1,400 meter average laterals) drilled in 2024 were placed on production in March supporting current production of ~8,900 bbl/d (April 2025). These are the first wells drilled at the project since 2015. The new well pairs have ramped up faster than anticipated, benefiting from favorable reservoir temperatures and pressure supported by offsetting wells. Early performance has exceeded expectations with initial production rates of 800 – 1,000 bbl/d per well.

Hangingstone continues to deliver meaningful cash flow contributions to the Company and also has a pre-payout crown royalty structure beyond 2030¹.

Duvernay Energy Corporation Q1 2025 Highlights and Operations Update

Production: First quarter production of 2,972 boe/d (73% Liquids).
Cash Flow: Adjusted Funds Flow of $8.3 million with an Operating Netback of $38.42/boe.
Capital Program: $13.0 million of capital expenditures included spudding a 30% WI four-well pad and constructing a strategic gathering system.

Q1 activity included spudding a four well pad (30% working interest) with average laterals of ~5,000 meters and construction of strategic gathering system connecting its newly operated assets with the Company’s existing operated infrastructure on the joint venture acreage. Completion operations will be phased through the balance of the year with the four well pad (30% WI) expected to be completed in Q3 and three well pad (100% WI) in early Fall. The Company expects to exit the year at ~6,000 boe/d.

Production from wells drilled in 2024 continue to validate DEC’s type curve expectations. The five wells placed on production have averaged IP30’s of ~1,200 boe/d per well (86% Liquids) and IP90s of ~940 boe/d (86% Liquids) per well.

2025 capital is trending ~$10 million lower than original budget and is estimated at ~$75 million, reflecting disciplined execution. Duvernay Energy retains significant operational flexibility with no near-term land expiries and the ability to adjust spending in response to commodity price movements.

About Athabasca Oil Corporation

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

For more information, please contact:
Matthew Taylor		Robert Broen
Chief Financial Officer		President and CEO
1-403-817-9104		1-403-817-9190
mtaylor@atha.com		rbroen@atha.com

Reader Advisory:

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

In addition, information and statements in this News Release relating to “Reserves” and “Resources” are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated, and that the reserves and resources described can be profitably produced in the future. With respect to forward-looking information contained in this News Release, assumptions have been made regarding, among other things: commodity prices; the regulatory framework governing royalties, taxes and environmental matters in the jurisdictions in which the Company conducts and will conduct business and the effects that such regulatory framework will have on the Company, including on the Company’s financial condition and results of operations; the Company’s financial and operational flexibility; the Company’s financial sustainability; Athabasca’s cash flow break-even commodity price; the Company’s ability to obtain qualified staff and equipment in a timely and cost-efficient manner; the applicability of technologies for the recovery and production of the Company’s reserves and resources; future capital expenditures to be made by the Company; future sources of funding for the Company’s capital programs; the Company’s future debt levels; future production levels; the Company’s ability to obtain financing and/or enter into joint venture arrangements, on acceptable terms; operating costs; compliance of counterparties with the terms of contractual arrangements; impact of increasing competition globally; collection risk of outstanding accounts receivable from third parties; geological and engineering estimates in respect of the Company’s reserves and resources; recoverability of reserves and resources; the geography of the areas in which the Company is conducting exploration and development activities and the quality of its assets. Certain other assumptions related to the Company’s Reserves and Resources are contained in the report of McDaniel & Associates Consultants Ltd. (“McDaniel”) evaluating Athabasca’s Proved Reserves, Probable Reserves and Contingent Resources as at December 31, 2024 (which is respectively referred to herein as the “McDaniel Report”).

Actual results could differ materially from those anticipated in this forward-looking information as a result of the risk factors set forth in the Company’s Annual Information Form (“AIF”) dated March 5, 2025 available on SEDAR at www.sedarplus.ca, including, but not limited to: weakness in the oil and gas industry; exploration, development and production risks; prices, markets and marketing; market conditions; trade relations and tariffs; climate change and carbon pricing risk; statutes and regulations regarding the environment including deceptive marketing provisions; regulatory environment and changes in applicable law; gathering and processing facilities, pipeline systems and rail; reputation and public perception of the oil and gas sector; environment, social and governance goals; political uncertainty; state of capital markets; ability to finance capital requirements; access to capital and insurance; abandonment and reclamation costs; changing demand for oil and natural gas products; anticipated benefits of acquisitions and dispositions; royalty regimes; foreign exchange rates and interest rates; reserves; hedging; operational dependence; operating costs; project risks; supply chain disruption; financial assurances; diluent supply; third party credit risk; indigenous claims; reliance on key personnel and operators; income tax; cybersecurity; advanced technologies; hydraulic fracturing; liability management; seasonality and weather conditions; unexpected events; internal controls; limitations and insurance; litigation; natural gas overlying bitumen resources; competition; chain of title and expiration of licenses and leases; breaches of confidentiality; new industry related activities or new geographical areas; water use restrictions and/or limited access to water; relationship with Duvernay Energy Corporation; management estimates and assumptions; third-party claims; conflicts of interest; inflation and cost management; credit ratings; growth management; impact of pandemics; ability of investors resident in the United States to enforce civil remedies in Canada; and risks related to our debt and securities. All subsequent forward-looking information, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements.

Also included in this News Release are estimates of Athabasca’s 2025 outlook which are based on the various assumptions as to production levels, commodity prices, currency exchange rates and other assumptions disclosed in this News Release. To the extent any such estimate constitutes a financial outlook, it was approved by management and the Board of Directors of Athabasca and is included to provide readers with an understanding of the Company’s outlook. Management does not have firm commitments for all of the costs, expenditures, prices or other financial assumptions used to prepare the financial outlook or assurance that such operating results will be achieved and, accordingly, the complete financial effects of all of those costs, expenditures, prices and operating results are not objectively determinable. The actual results of operations of the Company and the resulting financial results may vary from the amounts set forth herein, and such variations may be material. The outlook and forward-looking information contained in this New Release was made as of the date of this News release and the Company disclaims any intention or obligations to update or revise such outlook and/or forward-looking information, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law.

Oil and Gas Information

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

Initial Production Rates

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

Reserves Information

The McDaniel Report was prepared using the assumptions and methodology guidelines outlined in the COGE Handbook and in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities, effective December 31, 2024. There are numerous uncertainties inherent in estimating quantities of bitumen, light crude oil and medium crude oil, tight oil, conventional natural gas, shale gas and natural gas liquids reserves and the future cash flows attributed to such reserves. The reserve and associated cash flow information set forth above are estimates only. In general, estimates of economically recoverable reserves and the future net cash flows therefrom are based upon a number of variable factors and assumptions, such as historical production from the properties, production rates, ultimate reserve recovery, timing and amount of capital expenditures, marketability of oil and natural gas, royalty rates, the assumed effects of regulation by governmental agencies and future operating costs, all of which may vary materially. For those reasons, estimates of the economically recoverable reserves attributable to any particular group of properties, classification of such reserves based on risk of recovery and estimates of future net revenues associated with reserves prepared by different engineers, or by the same engineers at different times, may vary. The Company’s actual production, revenues, taxes and development and operating expenditures with respect to its reserves will vary from estimates thereof and such variations could be material. Reserves figures described herein have been rounded to the nearest MMbbl or MMboe. For additional information regarding the consolidated reserves and information concerning the resources of the Company as evaluated by McDaniel in the McDaniel Report, please refer to the Company’s AIF.

Reserve Values (i.e. Net Asset Value) is calculated using the estimated net present value of all future net revenue from our reserves, before income taxes discounted at 10%, as estimated by McDaniel effective December 31, 2024 and based on average pricing of McDaniel, Sproule and GLJ as of January 1, 2025.

The 444 gross Duvernay drilling locations referenced include: 87 proved undeveloped locations and 85 probable undeveloped locations for a total of 172 booked locations with the balance being unbooked locations. Proved undeveloped locations and probable undeveloped locations are booked and derived from the Company’s most recent independent reserves evaluation as prepared by McDaniel as of December 31, 2024 and account for drilling locations that have associated proved and/or probable reserves, as applicable. Unbooked locations are internal management estimates. Unbooked locations do not have attributed reserves or resources (including contingent or prospective). Unbooked locations have been identified by management as an estimation of Athabasca’s multi-year drilling activities expected to occur over the next two decades based on evaluation of applicable geologic, seismic, engineering, production and reserves information. There is no certainty that the Company will drill all unbooked drilling locations and if drilled there is no certainty that such locations will result in additional oil and gas reserves, resources or production. The drilling locations on which the Company will actually drill wells, including the number and timing thereof is ultimately dependent upon the availability of funding, commodity prices, provincial fiscal and royalty policies, costs, actual drilling results, additional reservoir information that is obtained and other factors.

Non-GAAP and Other Financial Measures, and Production Disclosure

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

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

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

	Three months ended March 31, 2025
($ Thousands)	Athabasca (Thermal Oil)			Duvernay Energy⁽¹⁾			Corporate Consolidated⁽¹⁾
Cash flow from operating activities	$	113,427		$	9,926		$	123,353
Changes in non-cash working capital		7,230			(1,612	)		5,618
Settlement of provisions		696			8			704
ADJUSTED FUNDS FLOW		121,353			8,322			129,675
Capital expenditures		(50,376	)		(12,957	)		(63,333	)
FREE CASH FLOW	$	70,977		$	(4,635	)	$	66,342

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

	Three months ended March 31, 2024
($ Thousands)	Athabasca (Thermal Oil)			Duvernay Energy⁽¹⁾			Corporate Consolidated⁽¹⁾
Cash flow from operating activities	$	72,730		$	3,908		$	76,638
Changes in non-cash working capital		9,382			149			9,531
Settlement of provisions		1,601			2			1,603
ADJUSTED FUNDS FLOW		83,713			4,059			87,772
Capital expenditures		(42,119	)		(33,892	)		(76,011	)
FREE CASH FLOW	$	41,594		$	(29,833	)	$	11,761

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

Duvernay Energy Operating Income and Operating Netback

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

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

	Three months ended March 31,
($ Thousands, unless otherwise noted)	2025			2024
Petroleum and natural gas sales	$	17,619		$	11,538
Royalties		(2,761	)		(2,314	)
Operating expenses		(3,786	)		(3,640	)
Transportation and marketing		(798	)		(898	)
DUVERNAY ENERGY OPERATING INCOME⁽¹⁾	$	10,274		$	4,686

Athabasca (Thermal Oil) Operating Income and Operating Netback

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

The Athabasca (Thermal Oil) Operating Income is calculated using the Athabasca (Thermal Oil) Segments GAAP results, as follows:

	Three months ended March 31,
($ Thousands, unless otherwise noted)	2025			2024
Heavy oil (blended bitumen) and midstream sales	$	362,375		$	305,041
Cost of diluent		(152,132	)		(133,860	)
Total bitumen and midstream sales		210,243			171,181
Royalties		(15,964	)		(11,537	)
Operating expenses – non-energy		(24,887	)		(23,125	)
Operating expenses – energy		(13,507	)		(16,558	)
Transportation and marketing⁽¹⁾		(20,569	)		(19,512	)
ATHABASCA (THERMAL OIL) OPERATING INCOME⁽²⁾	$	135,316		$	100,449

^{(1) Transportation and marketing excludes non-cash costs of $0.6 million for the three months ended March 31, 2025 (three months ended March 31, 2024 – $0.6 million).}

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

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

	Three months ended March 31,
($ Thousands, unless otherwise noted)	2025			2024
Petroleum, natural gas and midstream sales⁽¹⁾	$	379,994		$	316,579
Royalties		(18,725	)		(13,851	)
Cost of diluent⁽¹⁾		(152,132	)		(133,860	)
Operating expenses		(42,180	)		(43,323	)
Transportation and marketing⁽²⁾		(21,367	)		(20,410	)
Operating Income⁽³⁾		145,590			105,135
Realized gain (loss) on commodity risk mgmt. contracts		(1,643	)		1,445
OPERATING INCOME NET OF REALIZED HEDGING⁽³⁾	$	143,947		$	106,580

^{(1) Non-GAAP measure includes intercompany NGLs (i.e. condensate) sold by the Duvernay Energy segment to the Athabasca (Thermal Oil) segment for use as diluent that is eliminated on consolidation.}
^{(2) Transportation and marketing excludes non-cash costs of $0.6 million for the three months ended March 31, 2025 (three months ended March 31, 2024 – $0.6 million).}

Cash Transportation and Marketing Expense

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

Net Cash

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

Liquidity

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

Production volumes details

		Three months ended March 31,
Production		2025		2024
Duvernay Energy:
Oil and condensate NGLs⁽¹⁾	bbl/d		1,839		1,205
Other NGLs	bbl/d		326		180
Natural gas⁽²⁾	mcf/d		4,844		3,291
Total Duvernay Energy	boe/d		2,972		1,934
Total Thermal Oil bitumen	bbl/d		34,742		31,536
Total Company production	boe/d		37,714		33,470

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

This News Release also makes reference to Athabasca’s forecasted average daily Thermal Oil production of 33,500 ‐ 35,500 bbl/d for 2025. Athabasca expects that 100% of that production will be comprised of bitumen. Duvernay Energy’s forecasted total average daily production of ~4,000 boe/d for 2025 is expected to be comprised of approximately 68% tight oil, 23% shale gas and 9% NGLs.

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

Break Even is an operating metric that calculates the US$WTI oil price required to fund operating costs (Operating Break-even), sustaining capital (Sustaining Break-even), or growth capital (Total Capital) within Adjusted Funds Flow.

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

¹ 2025 pricing assumptions: US$70 WTI, US$12.50 WCS heavy differential, C$2 AECO, and 0.725 C$/US$ FX.

The MIL Network –

May 8, 2025

MIL-OSI United Kingdom: Tech companies urged to join drive to cut crime
Source: United Kingdom – Executive Government & Departments

Press release

Tech companies urged to join drive to cut crime

Top tech experts are meeting the Justice Secretary as part of a Government drive to use AI and technology to transform the justice system and cut crime.
New study shows tags monitoring curfews cut reoffending by 20%

Top tech experts assemble to address criminal justice challenges

Ambition to use technology to deliver safer streets as part of Plan for Change

Today around 30 companies including Microsoft, Amazon Web Services and Google will explore how revolutionary tech could be used to tackle violence in prison, better monitor offenders in the community and improve risk assessments of offenders.

The meeting comes as new research shows curfew tags, which keep offenders at home and off the streets during certain times, can reduce reoffending by 20 per cent. This demonstrates how even older technology is supporting punishment in the community and cutting crime.

The challenge now is to see how newer technology can contribute to help deliver the Government’s Plan for Change to make streets safer.

Today’s gathering will be chaired by James Timpson, the prison and probation minister, and opened by Lord Chancellor, Shabana Mahmood.

Lord Chancellor, Shabana Mahmood, said: 

We inherited a justice system in crisis, with prisons close to collapse and staff overburdened and under pressure.

We need bold ideas to address the challenges that we face – supporting our staff, delivering swifter justice for victims, and cutting crime.

Today, we have an analogue justice system in a digital age.

The UK has a world-leading and growing tech sector, and I know our tech firms have a huge role to play in delivering our Plan for Change to make streets safer.

The roundtable marks the first time key players in the UK’s tech ecosystem will meet with justice ministers to discuss some of the toughest challenges our courts, prisons and probation system face.

Discussion will focus on the potential for even more effective tracking of offender movement, using data to aid probation officers to perform better risk assessments and whether digital platforms can help offenders rehabilitate and integrate back into society, cutting reoffending.

It has been organised in partnership with techUK which is the trade association that brings together companies and organisations to promote digital technology.

techUK CEO, Julian David OBE said:

We’re honoured to be hosting this roundtable discussion with the Ministry of Justice – It presents an excellent opportunity for the tech sector to highlight the transformative role that technology is playing in modernising our criminal justice system.

techUK and our members believe that collaboration and open dialogue are essential to fostering innovation and driving meaningful reform – particularly in how offenders are rehabilitated – and that digital tools can be a powerful force in sustaining this positive impact across society.

Other companies attending include:

Allied Universal: an industry leader technology and service company for three decades

Cognizant Worldwide Limited: focuses on modernising technology, reimagining processes and transforming experiences

TPXimpact: a UK-based company focusing on digital transformation and creating positive change for people, places, and the planet

Microsoft Ltd. UK Public Sector General Manager, Amanda Sleight said:

We’re thrilled to be part of this groundbreaking initiative with the Ministry of Justice.

Microsoft is committed to advancing the ethical use of AI technology to reduce the administrative burden on prison and probation staff, allowing them more time to focus on delivering high-quality frontline services, reducing recidivism and helping integrate offenders back into society.

The aim is for a follow up to this meeting with an event open to the whole of industry to apply to come back and present their groundbreaking ideas and solutions in the coming months.

Earlier this year, the Lord Chancellor set out her vision for the Probation Service, which included a bold new £8 million pledge to introduce new technology to help risk assess offenders and cut back on admin, increasing focus on those offenders who pose the greatest risk to the public.

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Published 8 May 2025
MIL OSI United Kingdom –
May 8, 2025
MIL-OSI United Kingdom: VE Day boost for veterans’ healthcare
Source: United Kingdom – Executive Government & Departments

Press release

VE Day boost for veterans’ healthcare

Government announces £1.8 million investment to transform NHS care for veterans, serving personnel and their families.
New training for NHS workers to improve healthcare support for veterans.

Programme will improve access and outcomes for veterans, serving personnel and their families.

Regional trainers will work with GP practices and mental health services to embed expertise where it is needed most

Armed forces veterans and their families will benefit from improved and targeted healthcare, the government has announced as the nation marks the 80th anniversary of VE Day.

A new training programme will ensure NHS staff across the country are supported to meet the unique health needs of veterans, serving personnel and their families.

The new programme will see NHS staff across England receiving dedicated training to help them identify and support patients with military backgrounds. GPs, doctors and NHS nurses will work with regional trainers to make sure they embed this support into their services.

Veterans can require specialised care for injuries sustained in combat, as well as mental health support for conditions like post-traumatic stress disorder (PTSD) and depression.

Many also struggle to navigate civilian healthcare systems and may not self-identify as veterans to NHS staff, putting them at risk of missing out on the additional services and bespoke services that are already available.

Health and Social Care Secretary Wes Streeting said:

As we mark the 80th anniversary of VE Day, we’re honouring our Armed Forces not just with words, but with action.

Too many veterans face a system that doesn’t fully understand their needs – that changes today.

This new training programme will help NHS staff across England give our veterans the personalised care they deserve. Through our Plan for Change the NHS will deliver for those who have delivered for Britain.

As of April 2025, every NHS Trust in the country became officially ‘Veteran Aware’, a status which means they have been recognised for demonstrating their understanding of military healthcare needs. The three-year training programme will build on this success and will be rolled out from October 2025 across England.

The programme, backed by £1.8 million, will support NHS bodies to demonstrate their commitment to the Armed Forces Covenant, which ensures those who serve or have served, and their families, are treated fairly and not disadvantaged because of their military service.

The training will support healthcare providers to improve identification of Armed Forces personnel, deliver more personalised care, and ultimately improve health outcomes for veterans and their families.

Kate Davies CBE, National Director for Armed Forces Health, NHS England said:

On the 80th anniversary of VE Day, we honour the extraordinary legacy of our Armed Forces— and reaffirm the NHS’s commitment to those who’ve served.

As part of the Armed Forces Covenant, we’re launching our most comprehensive training programme yet to meet the unique healthcare needs of veterans.

Developed with frontline experts in veterans’ health and those with lived experience, this national initiative ensures those who’ve served receive the high-quality, specialised care they deserve.

Carol Betteridge OBE, Deputy Services Director at Help for Heroes said:

We’re pleased to see this important step forward in supporting veterans’ healthcare. Help for Heroes has already been delivering similar training through our Veteran Champion programme in NHS settings, and we look forward to working with NHS England to share our experience and help improve care for veterans and their families.

The announcement follows a £50 million boost in funding to ensure veterans across the UK will have easier access to essential care and support under a new UK-wide veteran support system, called VALOUR.

Through the Plan for Change, the government has delivered an extra 3 million appointments since July to cut waiting lists and provided the biggest boost to GP funding in years – an extra £889 million, and on Tuesday 6 May, the government announced a further major cash injection of over £102 million to upgrade and modernize GP practices.

The government is also bringing back the family doctor, recruiting an additional 1,500 GPs since October, and cutting red tape so GPs spend more time caring for patients.

Background

The National Training and Education Plan will cost £1.8 million over three years (2025/26 – 2027/28), with funding already secured.

All NHS Trusts have achieved Veteran Aware Accreditation under the programme led by the Veterans Covenant Healthcare Alliance.

Key objectives of the programme include:

Driving down health inequalities and unwarranted variation in healthcare for the Armed Forces community

Increasing awareness of the unique characteristics of the Armed Forces community

Supporting NHS systems to deliver their statutory responsibilities under the Armed Forces Covenant

The Training and Education leads will:

Provide standardised national Armed Forces awareness training for NHS staff at all levels

Help inform NHS commissioning bodies in developing health needs assessments for the Armed Forces community

Assist Integrated Care Boards to support armed forces families to better access health services

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Published 8 May 2025
MIL OSI United Kingdom –
May 8, 2025
MIL-OSI USA: Newhouse, Bipartisan Coalition Introduce Farm Workforce Modernization Act

Source: United States House of Representatives – Congressman Dan Newhouse (4th District of Washington)

Headline: Newhouse, Bipartisan Coalition Introduce Farm Workforce Modernization Act

WASHINGTON, D.C. – Today, Reps. Dan Newhouse (R-WA) and Zoe Lofgren (D-CA) reintroduced the bipartisan Farm Workforce Modernization Act to reform the H-2A visa program and establish a strong, legal immigration workforce for agricultural producers.

“The workforce crisis has come to a boiling point for farmers across the country,” said Rep. Dan Newhouse. “Reintroducing the Farm Workforce Modernization Act sends a clear message to farmers that we are working hard to find solutions that ease the burdens brought on by the current state of the H-2A program. This legislation is necessary to lay the groundwork for continued negotiations, and I am committed to working closely with my colleagues to enact long-term, durable reforms to our agriculture guest worker programs. This issue has been, and remains, my top priority and unified Republican government is an opportunity to deliver for our farmers and ranchers.”

“The men and women who work America’s farms feed the nation. However, in the past few years, we’ve seen labor shortages contribute to high food prices,” said Rep. Zoe Lofgren. “As economic chaos and confusion continues, it is essential we provide stability to this critical workforce. The Farm Workforce Modernization Act would do so, which will protect the future of our farms and our food supply. It is well-past time we get this bipartisan legislation twice passed by the House of Representatives to the President’s desk.”

Newhouse and Lofgren were joined by Reps. Mike Simpson (R-ID), Jim Costa (D-CA), David Valadao (R-CA), and Adam Gray (D-CA) in introducing the legislation.

“The workforce crisis is the most important issue facing agriculture in our country,” said Rep. Mike Simpson. “Supporting American agriculture means providing a stable, reliable, and legal workforce, and this legislative solution addresses one of the most pressing concerns our farmers and ranchers face. Now that we finally have an administration taking the border crisis seriously, Congress must address this issue and enact necessary reforms. It is well past time we solve this problem. I look forward to working with my colleagues and getting this critical legislation across the finish line to President Trump’s desk for his signature.”

“American agriculture depends on a reliable workforce and nowhere is that more true than in California’s San Joaquin Valley, where farmworkers are the backbone of our economy. This legislation is a common-sense, bipartisan solution that provides stability for our farmers and dignity for the workers who feed America. If President Trump is serious about fixing our broken immigration system, he should work with us to get this bill across the finish line,” said Rep. Jim Costa.

“Central Valley farmers are the backbone of our nation’s agricultural industry, but they continue to face serious challenges finding and retaining a reliable workforce,” said Rep. David Valadao. “The current H-2A program doesn’t meet the labor needs of many producers, but the Farm Workforce Modernization Act is a positive step to addressing our agriculture workforce needs and securing our food supply chain. Food security is national security, and I look forward to continuing to work with my colleagues on both sides of the aisle to find long-term solutions that support our farmers and strengthen our food supply chain.”

“Farm workers and the larger agricultural community are the backbone of the Central Valley’s economy,” said Rep. Adam Gray. “Labor shortages on our farms could lead to higher food prices across the country and the Valley cannot afford to be shorthanded. This commonsense bipartisan bill would stabilize our vital workforce and make sure Valley farmers can continue to feed families across the country.”

The legislation passed the House of Representatives with strong bipartisan support in the 116th and 117th Congresses.

Click here for a two-page summary of the bill.

Click here for a section-by-section outline of the bill.

Click here for the full text of the bill.

###

MIL OSI USA News –

May 8, 2025
MIL-OSI USA: Carbajal, Bera Lead House Democrats in Demanding Immediate Resumption of Humanitarian Assistance to Gaza

Source: United States House of Representatives – Representative Salud Carbajal (CA-24)

U.S. Representatives Salud Carbajal (D-CA-24) and Ami Bera (D-CA-06) are leading 94 House Democrats in calling for the Israeli government to immediately resume shipments of humanitarian aid to the Gaza Strip.

“As supporters of a strong US-Israel relationship, we write to express our opposition to the current Israeli government policy to block all humanitarian aid from entering the Gaza Strip,” the lawmakers wrote in their letter to Israeli Ambassador Yechiel Leiter and U.S. Secretary of State Marco Rubio. “In addition to the harm imposed on Palestinian civilians, it is strategically counterproductive and will only hurt Israel’s international standing and long term security. While we share concerns about Hamas diverting humanitarian assistance, we encourage your government to work with the United States, alongside humanitarian organizations, to do everything possible to minimize the risk of diverted resources without harming civilians.”

Resuming humanitarian aid in Gaza is an urgent need.

In their letter, the lawmakers underscore, “…nine weeks into the total blockade, the humanitarian conditions in Gaza are staggering, leading to new levels of despair for Palestinian civilians. Food stockpiles from the ceasefire have been largely depleted, and the World Food Programme has stated that all 25 subsidized bakeries across Gaza have been forced to close without enough cooking gas or flour.”

This letter further emphasizes the need for putting the region on a path towards security and stability.

“We implore your government to resume the flow of aid into Gaza. We also reiterate our support for a renewed ceasefire and hostage release deal to finally end this war — the only option to alleviate the suffering of both Israelis and Palestinians,” the lawmakers concluded.

For a full copy of the letter, click here.

Rep. Carbajal has been a leader in pushing for delivering humanitarian assistance to Palestinian civilians in Gaza. Since the fall of 2023, Rep. Carbajal has persistently called for the passage of humanitarian assistance to vulnerable populations in the Gaza Strip. In May of 2024, Rep. Carbajal raised significant concerns over Israel’s severe restriction of humanitarian goods amid mounting civilian deaths.

In the aftermath of the October 7 Hamas terrorist attacks against Israel, Rep. Carbajal voted to formally condemn Hamas’ October 7 terrorist attacks, call for swift support for both Israel’s security needs and humanitarian relief to help innocent civilians in Gaza, and to cut off funding sources for terrorist organizations in the region.

MIL OSI USA News –

May 8, 2025
MIL-OSI USA: Pressley, Markey, McGovern Applaud Court Decision Ordering Rümeysa Öztürk’s Transfer to Vermont

Source: United States House of Representatives – Congresswoman Ayanna Pressley (MA-07)

LawmakersMet with Öztürk at Louisiana ICE Facility Where She Has Been illegally Detained Since March

WASHINGTON – Today, Congresswoman Ayanna Pressley (MA-07), Senator Edward J. Markey (D-MA), and Congressman James P. McGovern (MA-02) released the following statement after the United States Court of Appeals for the Second Circuit directed the Trump administration to comply with a lower court order to transfer Rümeysa Öztürk from ICE custody in Louisiana to Vermont. The court ordered the government to move Ms. Öztürk within one week. On March 25, 2025, Ms. Öztürk, a PhD student at Tufts University, was abducted by six plainclothes ICE agents off the streets of Somerville, Massachusetts. She was quickly moved across state lines and shipped more than 1,500 miles away from her community to a detention facility in Louisiana.

“We applaud the Second Circuit for rejecting the Trump administration’s attempt to delay complying with the district court’s order to transfer Rümeysa Öztürk from Louisiana to Vermont, where she will be closer to her community and to her legal counsel,” said Pressley, Markey, and McGovern. “Rümeysa should never have been abducted and transferred thousands of miles away to begin with. She is being unlawfully detained for writing an op-ed in her school newspaper and has not been charged with a single crime. Last month, we visited Rümeysa in detention in Louisiana, where she faces intolerable conditions and has suffered multiple asthma attacks. Rümeysa’s case is part of an alarming trend by the Trump administration to trample individuals’ constitutional rights to due process and free speech. Rümeysa must be released and have her visa restored immediately, and we will continue to ring the alarm loudly until that is the case.”

On April 22, 2025, Pressley, Markey and McGovern, along with Representative Bennie Thompson (MS-02), Ranking Member of House Committee on Homeland Security, and Representative Troy Carter (LA-02), visited the Louisiana ICE facility where Rümeysa Öztürk was being held. Also on April 22, Senator Markey, Representative Pressley, and Senator Elizabeth Warren (D-Mass.) sent a letter to Secretary of Homeland Security Kristi Noem and U.S. Immigration and Customs Enforcement (ICE) Acting Director Todd Lyons to demand answers about the Trump administration’s concerning practice of detaining individuals, such as Öztürk, far from their attorneys and communities and in legal environments where their rights are more difficult to defend. The Trump administration is forum shopping to obtain a legal outcome favorable to its deportation agenda.

###

MIL OSI USA News –

May 8, 2025
MIL-OSI New Zealand: Wildlife law change a deep betrayal of public trust

Source: It’s time to fix the secondary teacher shortage

The Green Party is appalled by the Government’s use of urgency to rewrite the Wildlife Act–without consultation, without an impact statement, and in direct response to a court ruling in favour of protecting wildlife.

“The Government is rushing legislation through Parliament to make it easier to kill kiwi and other precious wildlife,” says Green Party co-leader and Conservation spokesperson, Marama Davidson.

“Our native taonga should be treasured. They connect us to our whenua and whakapapa, and form a critical component of our national identity.

“This law change comes directly off the back of a court ruling that found it was unlawful for the Department of Conservation (DOC) to permit developers to kill protected species.

“Rather than respecting that ruling, and learning from it, the Government is rewriting the Act to make that killing legal. It’s cynical, calculated, and utterly, utterly devastating.

“For the Minister of Conservation to say only days ago that nature is ‘part of our national identity, economy and way of life,’ then allow this legislation to bulldoze through the House is a disgrace.

“You can’t claim to value our biodiversity while forcing through law changes to make it easier to destroy it. This isn’t about protecting biodiversity—it’s about protecting profit and feeding corporate greed.

“When nature is only valued for its economic benefit, the outcome is inevitable: destruction. This Government has made it clear that when forced to choose between the interests of industry or the interests of the law, the public, and the environment, it will always choose the bulldozer.

“Our Green Budget will outline our bold vision for an Aotearoa that works with nature, not against it,” says Marama Davidson.

MIL OSI New Zealand News –

May 8, 2025
MIL-OSI USA: Murray, Wyden, Senate Colleagues Slam Social Security for Improperly Declaring Thousands Dead, Call for Watchdog Investigation

US Senate News:

Source: United States Senator for Washington State Patty Murray
Trump administration abused Death Master File to purge at least 6,300 Social Security numbers–including children and seniors
ICYMI: Senator Murray on Vote Against Social Security Nominee, Releases New WA State Report on How Trump and Elon Are Breaking the Social Security Administration
Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, joined Senate Finance Committee Ranking Member Ron Wyden (D-OR), and 10 Senate colleagues in slamming the Social Security Administration (SSA) for transferring thousands of Social Security numbers associated with immigrants to SSA’s Death Master File, marking them as dead to pressure ‘self-deportation’ and demanded the agency’s watchdog launch a full investigation into the decision.
Exploiting Social Security’s Death Master File to terminate the SSN of living individuals without full due process, violates several federal laws and bedrock constitutional rights. The Trump administration’s actions violate their due process rights enshrined in the Constitution, falsify government records, and violate the Privacy Act, wrote the senators. Even Trump’s lawyers reportedly agreed that Social Security’s actions violated the Privacy Act.
“This decision will result in the ‘financial murder’ of living individuals improperly placed in the file, with everything from their credit cards and banking to their ability to access healthcare and housing being ripped out from under them,” the senators wrote in the letters to Acting Social Security Commissioner Leland Dudek and Social Security Assistant Inspector General for Audit Michelle Anderson.
The senators also called on the SSA Office of the Inspector General to launch a full investigation into the agency’s decision to begin using the Death Master File for this purpose, including how an individual gets targeted, who at the agency has decision making authority, and how those who have their SSNs nullified through this process can get it fixed if there is a mistake.
The Trump administration’s abuse of Social Security’s centerpiece role in America’s economy sets a dangerous precedent of allowing the government to rip away workers’ access to their earned Social Security benefits while threatening the security of all Americans.
“The purpose of SSA is to provide for the welfare of number-holders and their dependents, not to serve as an arm of President Trump’s immigration enforcement agenda. This move degrades the solvency, reliability, and accuracy of SSA systems and programs. It is as cruel as it is thoughtless– the impact will be felt in communities across the country and in the future of SSA programs themselves,” the senators concluded in one of their letters to SSA.
In addition to Murray and Wyden, the letter was signed by Senators Peter Welch (D-VT), Mazie Hirono (D-HI), Tammy Duckworth (D-IL), Catherine Cortez Masto (D-NV), Bernie Sanders (I-VT), Angus King (I-ME), Elizabeth Warren (D-MA), Cory Booker (D-NJ), Ben Ray Luján (D-NM), and Jeff Merkley (D-OR).
A PDF of the letter to SSA Acting Commissioner Dudek is available HERE.
A PDF of the letter to SSA Assistant Inspector General for Audit Anderson is available HERE.
Yesterday, Senator Murray released a new report featuring testimonials from Washington state residents—including employees at the Social Security Administration who were recently fired through no fault of their own—and detailing how the Trump administration’s wide-ranging attacks on SSA risk depriving Washingtonians of the Social Security benefits they have earned and deserve. More than 73 million Americans, including 1.4 million—or one in six—people in Washington state rely on Social Security benefits. Half of seniors nationwide rely on Social Security for most of their income, and a quarter of seniors rely on Social Security for at least 90 percent of their income.
Senator Murray has an extensive record of protecting Social Security benefits and fighting to secure essential funding for the Social Security Administration—and she has been tirelessly raising the alarm about the threat Elon Musk’s DOGE poses to Americans’ hard-earned benefits. In March, Senator Murray held a press conference to lift up the stories of SSA employees who are being pushed out by Elon Musk through no fault of their own and hear from Washington state residents who rely on Social Security. In February, Murray released a fact sheet warning of the Trump administration’s plans to make it harder for Americans who’ve paid into Social Security to get the benefits they have earned.
Under Senator Murray’s leadership as Chair last Congress, the Senate Appropriations Committee advanced a draft Fiscal Year 2025 Appropriations Bill that would have provided a $509 million increase for SSA this year. Millions of Americans rely on Social Security and have earned benefits over lifetimes of work. Senator Murray also helped pass the Social Security Fairness Act at the end of 2024, which restored full Social Security benefits for public servants, including firefighters, law enforcement officers, teachers, and other state and local government workers—in January, Murray held a roundtable discussion in Everett with local union members on the implementation of the law.

MIL OSI USA News –

May 8, 2025
MIL-OSI United Kingdom: Prime Minister to set out vision for ‘defence dividend’ in a changed world
Source: United Kingdom – Executive Government & Departments

Press release

Prime Minister to set out vision for ‘defence dividend’ in a changed world

As the nation marks VE Day, remembering the triumph of our values and the sacrifices made to secure them eight decades ago, the Prime Minister will share his vision for working people, once again, to feel the benefit of Britain stepping up.
As the nation marks VE Day, PM will deliver keynote speech at the London Defence Conference

He is expected to say that the benefits of boosting defence investment in a changing world must be felt directly in the pockets of working people

Seizing on the conference theme of Alliances, he will set out how state, businesses and society must join hands on security and prosperity

He will also unveil a £563 million contract for Rolls-Royce, becoming the latest investment in Britain’s first class engine building industry

As the nation marks VE Day, remembering the triumph of our values and the sacrifices made to secure them eight decades ago, the Prime Minister will share his vision for working people, once again, to feel the benefit of Britain stepping up.

Delivering the keynote speech at the London Defence Conference this morning, he will describe the government’s task to seize upon the ‘defence dividend’ presented by our increased investment in defence, in order to create jobs, wealth and opportunity in every corner of the country.

In doing so he will highlight how the government’s boost to defence spending – the highest since the Cold War – will not only provide safety and security for the United Kingdom, but also cement the UK’s status as a defence industrial leader, with more high skilled jobs for people proud to keep our country safe.

Prime Minister Keir Starmer is expected to say:

Our task now is to seize the defence dividend – felt directly in the pockets of working people, rebuilding our industrial base and creating the jobs of the future.

A national effort. A time for the state, business and society to join hands, in pursuit of the security of the nation and the prosperity of its people.

An investment in peace, but also an investment in British pride and the British people to build a nation that, once again, lives up to the promises made to the generation who fought for our values, our freedom and our security.

The Prime Minister will use his speech to deliver a tribute to the bravery of the veterans who secured victory 80 years ago and the remarkable men and women who carry the vital task of protecting our security today. It follows a street party on Downing Street on Monday where the Prime Minister welcomed Second World War veterans and cadets from across the country, and comes ahead of his attendance at the service at Westminster Abbey this afternoon.

He will say:

Britain’s victory was not just a victory for Britain. It was a victory for good against the assembled forces of hatred, tyranny and evil, for the light of our values – in a world that tried to put them out.

Now, as you know, there are people who would happily do likewise today. Our values and security are confronted on a daily basis. We must use this moment to deliver security and renewal for our country.

At the Conference the Prime Minister will address policymakers, military figures, defence firms and academics from around the world.

In the face of global instability, he will reflect on how the conference theme ‘Alliances’ should mean not only our iron-clad commitment to NATO and Western Values but also an opportunity to double down on efforts to work hand-in-hand with business and society to make the UK better off and more secure.

He will announce the latest significant investment in British expertise with a £563 million contract for Rolls-Royce for the maintenance of Britain’s fleet of Typhoon fighter jets. The work to maintain 130 Typhoon engines will take place at Rolls-Royce’s sites, supporting hundreds of jobs in Bristol and beyond.

The announcement supports the government’s priority of continuing the UK’s great tradition of building the ships, missiles, artillery, vehicles, aircraft and more that keeps us safe – cementing the British defence industry’s place as the engine of national renewal.

It comes less than a week after the Prime Minister hailed the RAF’s new UK-made StormShroud drones. The groundbreaking new technology will make the RAF’s world-class combat aircraft more survivable and more lethal by delivering high-tech signal jammers to disrupt enemy radar at long ranges, protecting our aircraft and pilots.

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Published 8 May 2025
MIL OSI United Kingdom –
May 8, 2025
MIL-OSI USA: SBA Offers Relief to North Dakota Small Businesses and Private Nonprofits Affected by Drought

Source: United States Small Business Administration

SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to small businesses and private nonprofit (PNP) organizations in North Dakota to offset economic losses caused by drought beginning April 15.

The declaration includes the North Dakota counties of Billings, Burke, Burleigh, Divide, Dunn, Golden Valley, McHenry, McKenzie, McLean, Mercer, Mountrail, Oliver, Sheridan, Slope, Stark, Ward and Williams as well as the Montana counties of Richland, Roosevelt, Sheridan and Wibaux.

Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

“Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.62% for PNPs with terms up to 30 years. Interest does not accrue, and payments are not due until 12 months after the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

Submit completed loan applications to SBA no later than Dec. 22.

###

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

MIL OSI USA News –

May 8, 2025
MIL-OSI USA: Attorney General Bonta and Secretary of State Weber Again Urge Appellate Court to Intervene in Huntington Beach Voter ID Lawsuit

Source: US State of California

Wednesday, May 7, 2025

Contact: (916) 210-6000, agpressoffice@doj.ca.gov

Appellate court previously expressed reservations about arguments advanced by Huntington Beach

SACRAMENTO — California Attorney General Rob Bonta and Secretary of State Shirley N. Weber, Ph.D. today requested relief from the California Fourth District Court of Appeal, Division Three concerning the City of Huntington Beach’s voter identification (voter ID) law, Measure A. With scant analysis, the lower court — the Orange County Superior Court — denied on April 7 the State’s petition for writ of mandate, which asserted that state law prohibits and overrides Measure A. According to the lower court, the City’s voter ID rules could be imposed because conflicting state law “do[es] not implicate matters of statewide concern.” Today’s filing asks the appellate court to intervene by setting aside the April 7 order and directing the Orange County Superior Court to grant the State’s petition for writ of mandate.

“Secretary of State Weber and I continue to believe that the Orange County Superior Court got it wrong. As a result, we’re once again asking the California Fourth District Court of Appeal to step in,” said Attorney General Bonta. “Our elections are already secure, and applicants who register to vote in California are already required to verify their identity during the registration process and at the polls. We remain confident that Measure A will ultimately be struck down, especially because the appellate court previously expressed reservations about Huntington Beach’s argument that it can regulate its elections without any state interference.”

“The City’s unapologetic efforts to impose voter identification requirements in its local elections clearly violate state law,” said Secretary of State Weber. “It is an unfortunate continuation of a long line of voter suppression efforts that would disenfranchise its residents and has no place in California.”

Attorney General Bonta and Secretary of State Weber first requested relief from the California Fourth District Court of Appeal on February 13, asking the court to resolve the whole case on the merits rather than solely on the narrower question of ripeness. A week later, a three-judge panel of the appellate court issued a unanimous order. According to the order, the lower court’s “conclusion that this matter is not ripe for decision is problematic” and the City’s argument that “it had a constitutional right to regulate its own municipal elections free from state interference . . . is also problematic.” The appellate court also instructed the lower court to decide whether it would modify its earlier orders granting the City’s motion to dismiss the case. On February 27, the Orange County Superior Court vacated its earlier orders, concluded that “there is a ripe justiciable controversy,” and set a hearing on the State’s petition for writ of mandate.

In this filing, Attorney General Bonta and Secretary of State Weber argue that the appellate court’s intervention is necessary because this case presents an issue of great statewide, public importance with significant implications for the successful administration of upcoming elections, the protection of the right to vote, and the constitutional separation of powers between charter cities and the State.

A copy of today’s filing can be found here.

# # #

MIL OSI USA News –

May 8, 2025

MIL-OSI: Pieridae Releases Q1 2025 Financial and Operating Results

Source: GlobeNewswire (MIL-OSI)

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES

CALGARY, Alberta, May 07, 2025 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (TSX: PEA) announces the release of its first quarter 2025 financial and operating results. The Company produced 22,584 boe/d and generated Net Operating Income¹ (“NOI”) of $32.6 million during the first quarter of 2025. Management’s discussion and analysis (“MD&A”) and unaudited interim condensed consolidated financial statements and notes for the quarter ended March 31, 2025 are available at www.pieridaeenergy.com and on SEDAR+ at www.sedarplus.ca.

“Pieridae continues building momentum this quarter with strong financial results driven, in part, by proactive decision making from our management team,” said Darcy Reding, President and CEO. “During the first quarter, we restarted 1,800 boe/d of previously shut-in dry gas volumes in response to improvements in AECO natural gas prices. We also monetized a portion of our in-the-money 2026 and 2027 natural gas financial hedge position, generating proceeds of $10.2 million which we used to reduce debt, while increasing exposure of our 2026 and 2027 natural gas production to future market prices. Our team remains focused on key milestones and catalysts in 2025, highlighted by continued debt reduction, growth in our third-party gathering and processing business, and the December 31, 2025 expiration of a long-term fixed price sulphur marketing agreement.”

Q1 2025 HIGHLIGHTS

Generated NOI of $32.6 million ($0.11 per basic and fully diluted share).
Generated Funds Flow from Operations¹ of $21.7 million ($0.07 per basic and fully diluted share).
Incurred operating expenses of $44.0 million, down 15% from Q1 2024, reflecting both production shut-ins and the continued reduction of field and facility operating cost structure.
Produced 22,584 boe/d (78% natural gas), down 35% from Q1 2024 due to the voluntary shut-in of approximately 9,400 boe/d of uneconomic dry gas production from Q3 2024 through February 2025 and an unplanned outage at the Jumping Pound gas plant from late February to early April.
Completed additional routine maintenance during the Q1 Jumping Pound gas plant outage that permitted deferral of the plant’s scheduled 2026 maintenance turnaround by one year to 2027.
Restarted approximately 1,800 boe/d shut-in Northeast BC and Northern Alberta production, benefitting from stronger gas prices during Q1.
Increased third-party raw gas processing volumes to 81.8 MMcf/d, up 40% from Q1 2024 and highlighted by the Caroline gas plant’s 58.9 MMcf/d contribution, up 122% from Q1 2024.
Executed capital expenditure activity of $6.5 million, primarily on the Super Claus sulphur condenser repair at the Jumping Pound gas plant, along with well and facility optimization projects.
Completed a hedge monetization transaction in March 2025 for a portion of 2026 and 2027 natural gas contracts for net proceeds of $10.2 million and repaid a portion of the senior term loan.
Reduced Net Debt¹ to $185.4 million, a $12.1 million decrease from Q4 2024.
Proposed a name change to Cavvy Energy Ltd. in support of our corporate strategy, subject to shareholder approval at the Company’s Annual and Special Meeting of Shareholders on May 8, 2025.

________________

¹^{Refer to the “non-GAAP measures” section of the Company’s MD&A.}


	2025		2024								2023
($ 000s unless otherwise noted)	Q1		Q4		Q3		Q2		Q1		Q4		Q3		Q2
Production
Natural gas (Mcf/d)	105,338		111,787		115,196		157,077		175,356		174,211		155,763		159,427
Condensate (bbl/d)	2,454		2,149		2,191		2,472		2,781		2,384		2,020		2,300
NGLs (bbl/d)	2,574		1,788		1,726		2,210		2,613		1,921		2,273		2,216
Sulphur (tonne/d)	1,076		968		1,444		1,376		1,491		1,284		1,124		1,362
Total production (boe/d) ⁽¹⁾	22,584		22,568		23,116		30,861		34,620		33,340		30,253		31,087
Third-party volumes processed (Mcf/d raw) ⁽²⁾	81,777		71,497		66,518		52,410		58,423		67,350		57,363		51,973
Financial
Natural gas price ($/Mcf)
Realized before Risk Management Contracts ⁽³⁾	2.24		1.55		0.77		1.14		2.53		2.32		2.65		2.39
Realized after Risk Management Contracts ⁽³⁾	3.58		3.36		3.43		2.71		3.21		3.12		3.25		3.03
Benchmark natural gas price	2.14		1.46		0.68		1.17		2.48		2.29		2.59		2.40
Condensate price ($/bbl)
Realized before Risk Management Contracts ⁽³⁾	95.15		94.87		92.13		99.96		91.18		97.15		97.47		84.81
Realized after Risk Management Contracts ⁽³⁾	88.29		90.61		84.61		87.75		84.49		86.34		80.49		105.84
Benchmark condensate price ($/bbl)	100.24		98.85		97.10		105.62		98.43		104.30		106.30		93.25
Sulphur price ($/tonne)
Realized sulphur price ⁽⁴⁾	17.00		12.09		8.86		18.43		14.49		22.54		13.34		22.78
Benchmark sulphur price	246.36		180.54		128.47		103.19		94.84		118.29		107.09		114.92
Net income (loss)	2,666		(20,921	)	7,496		(19,196	)	(6,284	)	7,414		(16,254	)	4,182
Net income (loss) $ per share, basic	0.01		(0.08	)	0.04		(0.12	)	(0.04	)	0.05		(0.11	)	0.03
Net income (loss) $ per share, diluted	0.01		(0.08	)	0.04		(0.12	)	(0.04	)	0.03		(0.11	)	0.03
Net operating income ⁽⁵⁾	32,550		13,720		19,818		7,652		23,418		25,441		11,650		43,843
Cashflow provided by (used in) operating activities	22,612		(592	)	2,260		(1,555	)	7,049		31,983		7,577		27,533
Funds flow from operations ⁽⁵⁾	21,707		2,824		8,234		(4,874	)	12,044		14,269		(1,422	)	35,432
Total assets	571,470		612,423		615,040		585,940		590,531		638,541		564,921		575,849
Adjusted working capital deficit ⁽⁵⁾	(30,540	)	(29,777	)	(42,658	)	(37,986	)	(31,671	)	(31,830	)	(21,454	)	(6,258	)
Net debt ⁽⁵⁾	(185,438	)	(197,564	)	(206,779	)	(219,204	)	(209,964	)	(204,046	)	(205,536	)	(181,670	)
Capital expenditures ⁽⁶⁾	6,538		5,800		10,002		5,003		4,897		9,306		16,363		9,384
_{(1) Total production excludes sulphur.}
_{(2) Third-party volumes processed are raw natural gas volumes reported by activity month, which do not include accounting accruals.}
_{(3) Includes physical commodity and financial risk management contracts inclusive of cash flow hedges, (together “Risk Management Contracts”). The realized natural gas price after Risk Management Contracts shown above is normalized to exclude the impact of the hedge monetization.}
_{(4) Realized sulphur price is net of customary deductions such as transportation, market and storage fees.}
_{(5) Refer to the “Net Operating Income”, “Capital Resources”, “Funds Flow from Operations” and “Working Capital and Capital Strategy” sections of the Company’s MD&A for reference to non-GAAP measures.}
_{(6) Excludes reclamation and abandonment activities.}

OUTLOOK

Pieridae’s priority remains strengthening our balance sheet while safely sustaining production, increasing the utilization of the Company’s gas processing facilities by attracting incremental third-party volumes, implementing cost reduction initiatives, optimizing infrastructure, and executing non-core asset dispositions to maintain profitability during all periods of the commodity cycle.

The Company’s 2025 guidance remains unchanged as follows:

	2025 Guidance
($ 000s unless otherwise noted)	Low	High
Total production (boe/d) ⁽¹⁾	23,000	25,000
Net operating income ^(2)(4)(5)	75,000	95,000
Operating netback ($/boe) ^(3)(4)(5)	9.00	11.00
Capital expenditures	25,000	30,000
_{(1) 2025 production guidance assumes persistence of previously announced shut-ins in Central AB through 2025}
_{(2) Refer to the “Net Operating Income” section of the Company’s MD&A for reference to non-GAAP measures.}
_{(3) Refer to “Operating Netback” section of the Company’s MD&A for reference to non-GAAP measures.}
_{(4) Assumes unhedged average 2025 AECO price of $2.45/GJ and average 2025 WTI price of US$ 63.97/bbl.}
_{(5) Accounts for impact of hedge contracts in place at May 7, 2025.}

Specific priorities for 2025 remain:

Sustain a safe and regulatory compliant business
Minimize facility outages to maximize sales and processing revenue
Further grow the third-party gathering and processing business at our operated facilities
Meaningfully reduce operating expenses to improve corporate netback
Deliver attractive ROI on value adding optimization projects included in the 2025 capital program
Reduce long term debt to improve financial flexibility

During the second and third quarters of 2024, several low margin, dry gas properties in Northern AB, Northeast BC, and Central AB, all producing to non-operated facilities, were shut-in due to low AECO natural gas prices and high variable operating costs. Since these decisions were made, AECO pricing has improved. As a result, approximately 1,000 boe/d of production in Northern AB and 800 boe/d of production in Northeast BC was re-started in February and March 2025, respectively, but may be shut-in once again if sustained AECO pricing does not justify ongoing production. Currently, shut-in production in Central AB representing approximately 8,000 boe/d, or 24% of the Company’s production capability, is expected to remain shut-in throughout 2025, which is reflected in the 2025 production guidance of 23,000 to 25,000 boe/d.

An ongoing strategic priority is to continue to grow third-party gathering and processing revenues at our operated facilities. Management believes there is strong upside potential for cash flow growth from the third-party gathering and processing business, particularly in the Caroline region where the Company has increased raw third-party volumes by 122% over the last four quarters as area producers continue to bring on new production.

The Company has 110,000 GJ/d of its 2025 natural gas production hedged at a weighted average fixed price of $3.32/GJ, and 1,679 bbl/d of its 2025 condensate production hedged with a weighted average floor price of CAD$84.42/bbl and a weighted average ceiling price of CAD$92.32/bbl. The Company’s aggregate hedge position for 2025 totals 19,055 boe/d, or approximately 80% of the above production guidance range.

Pieridae’s legacy fixed price sulphur contract, which was entered into in 2019, expires on December 31, 2025. Under this contract, the Company receives a net fixed price of approximately $6/tonne for the majority of its sulphur production capability of approximately 1,400 tonnes per day. Beginning January 1, 2026, the Company will receive market price for all sulphur production, less normal deductions for transportation, handling, and marketing, representing a significant potential revenue opportunity. As of May 7, 2025, the spot west coast sulphur price was approximately US$270/tonne, prior to royalties, transportation and marketing costs.

The $25.0 to $30.0 million 2025 capital guidance includes approximately $10.0 million of high-impact well and facility optimization expenditures funded with the equity raised during Q4 2024. These high return, short payout capital projects are expected to increase sales revenue, improve facility efficiency, reduce operating cost and fuel gas consumption, and lower GHG compliance costs. Spending on this program commenced in Q4 2024 and will continue throughout 2025. The remainder of the 2025 capital program is focused on routine capital maintenance, field operating technology upgrades, and site closure / decommissioning expenditures in Alberta and BC. Notably, Pieridae has not scheduled major maintenance turnaround activity at any of the Company’s deep-cut, sour gas processing facilities during 2025 given the successful completion of gas plant turnarounds and other maintenance projects in 2023, 2024 and Q1 2025. The next major maintenance turnaround is scheduled for 2026.

Due to the current outlook for North American natural gas prices, Pieridae is not planning to resume drilling operations in 2025. The Company will only exploit its portfolio of high impact conventional Foothills drilling opportunities once natural gas prices sustainably recover and the Company has achieved its deleveraging target.

HEDGE POSITION

Pieridae hedges to mitigate commodity price, interest rate and foreign exchange volatility to protect the cash flow required to fund the Company’s operations, capital requirements and debt service obligations, while allowing the Company to participate in future commodity price upside. Pieridae continues to execute its risk management program governed by its hedge policy and in compliance with the thresholds required by senior secured lenders. As of March 31, 2025, the Company is hedged in accordance with the requirements of the senior loan agreement. The discounted unrealized gain on the Company’s hedge portfolio at May 7, 2025 was approximately $39.8 million using the forward strip on May 7, 2025.

The tables below summarize Pieridae’s hedge portfolio for natural gas, condensate (“C5⁺”) and power as of May 7, 2025:

2025-2026 Hedge Portfolio⁽¹⁾	Q125	Q225	Q325	Q425	2025	Q126	Q226	Q326	Q426	2026
AECO Natural Gas Sales
Total Hedged (GJ/d)	110,000	110,000	110,000	110,000	110,000	78,502	71,855	58,340	55,025	65,845
Avg Hedge Price (C$/GJ)	$3.32	$3.32	$3.32	$3.32	$3.32	$3.32	$3.34	$3.39	$3.40	$3.36
WTI / C5⁺Sales
Total Hedged (bbl/d)	1,721	1,692	1,663	1,641	1,679	1,622	1,529	1,364	1,350	1,465
Avg Collar Cap Price (C$/bbl)	$92.73	$92.45	$92.03	$92.05	$92.32	$91.69	$90.94	$91.67	$91.68	$91.48
Avg Collar Floor Price (C$/bbl)	$84.14	$84.25	$84.61	$84.67	$84.42	$84.09	$83.83	$85.64	$85.70	$84.82
Power Purchases
Total Hedged (MW)	55	55	55	55	55	45	45	45	45	45
Avg Hedge Price (C$/MWh)	$79.22	$79.10	$79.07	$79.08	$79.12	$75.87	$75.88	$75.88	$75.88	$75.88

2027-2028 Hedge Portfolio⁽¹⁾	Q127	Q227	Q327	Q427	2027	Q128	Q228	Q328	Q428	2028
AECO Natural Gas Sales
Total Hedged (GJ/d)	53,340	28,154	–	–	20,172	–	–	–	–	–
Avg Hedge Price (C$/GJ)	$3.40	$3.40			$3.40					–
WTI / C5⁺Sales
Total Hedged (bbl/d)	1,171	1,151	1,125	1,125	1,143	785	750	–	–	382
Avg Collar Cap Price (C$/bbl)	$91.40	$88.80	$90.05	$90.05	$90.08	$90.40	$86.50	–	–	$88.50
Avg Collar Floor Price (C$/bbl)	$84.37	$84.08	$90.05	$90.05	$87.14	$90.40	$86.50	–	–	$88.49
Power Purchases
Total Hedged (MW)	25	25	25	25	25					–
Avg Hedge Price (C$/MWh)	$70.19	$70.19	$70.19	$70.19	$70.19					–
_{(1) Includes forward physical sales contracts and financial derivative contracts as of May 7, 2025}

CONFERENCE CALL DETAILS

A conference call and webcast to discuss the results will be held on Thursday, May 8, 2025, at 1:30 p.m. MDT / 3:30 p.m. EDT, following the formal business conducted at the Annual General and Special Meeting of Shareholders. To participate in the webcast or conference call, you are asked to register using one of the links provided below.

To register to participate via webcast please follow this link:

https://edge.media-server.com/mmc/p/xk53vcfn

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

https://register-conf.media-server.com/register/BIf4a11631ac334142b7d1671fbf810fbb

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

ABOUT PIERIDAE

Pieridae is a Canadian energy company headquartered in Calgary, Alberta. The Company is a significant upstream producer and midstream custom processor of natural gas, NGLs, condensate, and sulphur from western Canada. Pieridae’s vision is to provide responsible, affordable natural gas and derived products to meet society’s energy security needs. Pieridae’s common shares trade on the TSX under the symbol “PEA”.

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

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

Investor Relations
investors@pieridaeenergy.com

Forward-Looking Statements
Certain of the statements contained herein including, without limitation, management plans and assessments of future plans and operations, Pieridae’s outlook, strategy and vision, intentions with respect to future acquisitions, dispositions and other opportunities, including exploration and development activities, Pieridae’s ability to market its assets, plans and timing for development of undeveloped and probable resources, Pieridae’s goals with respect to the environment, relations with Indigenous people and promoting equity, diversity and inclusion, estimated abandonment and reclamation costs, plans regarding hedging, plans regarding the payment of dividends, wells to be drilled, the weighting of commodity expenses, expected production and performance of oil and natural gas properties, results and timing of projects, access to adequate pipeline capacity and third-party infrastructure, growth expectations, supply and demand for oil, natural gas liquids and natural gas, industry conditions, government regulations and regimes, capital expenditures and the nature of capital expenditures and the timing and method of financing thereof, may constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws (collectively “forward-looking statements”). Words such as “may”, “will”, “should”, “could”, “anticipate”, “believe”, “expect”, “intend”, “plan”, “continue”, “focus”, “endeavor”, “commit”, “shall”, “propose”, “might”, “project”, “predict”, “vision”, “opportunity”, “strategy”, “objective”, “potential”, “forecast”, “estimate”, “goal”, “target”, “growth”, “future”, and similar expressions may be used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management.

Forward-looking statements involve significant risk and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including, but not limited to, the risks associated with oil and gas exploration, development, exploitation, production, processing, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of resources estimates, environmental risks, competition from other producers, incorrect assessment of the value of acquisitions, failure to realize the anticipated benefits of acquisitions, delays resulting from or inability to obtain required regulatory approvals, ability to access sufficient capital from internal and external sources and the risk factors outlined under “Risk Factors” and elsewhere herein. The recovery and resources estimate of Pieridae’s reserves provided herein are estimates only and there is no guarantee that the estimated resources will be recovered. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.

Forward-looking statements are based on a number of factors and assumptions which have been used to develop such forward-looking statements, but which may prove to be incorrect. Although Pieridae believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because Pieridae can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified in this document, assumptions have been made regarding, among other things: the impact of increasing competition; the general stability of the economic and political environment in which Pieridae operates; the timely receipt of any required regulatory approvals; the ability of Pieridae to obtain and retain qualified staff, equipment and services in a timely and cost efficient manner; the ability of the operator of the projects which Pieridae has an interest in to operate the field in a safe, efficient and effective manner; the ability of Pieridae to obtain financing on acceptable terms; the ability to replace and expand oil and natural gas resources through acquisition, development and exploration; the timing and costs of pipeline, storage and facility construction and expansion and the ability of Pieridae to secure adequate product transportation; future oil and natural gas prices; currency, exchange and interest rates; the regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which Pieridae operates; timing and amount of capital expenditures; future sources of funding; production levels; weather conditions; success of exploration and development activities; access to gathering, processing and pipeline systems; advancing technologies; and the ability of Pieridae to successfully market its oil and natural gas products.

Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Pieridae’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR+ website (www.sedarplus.ca), and at Pieridae’s website (www.pieridaeenergy.com).

Although the forward-looking statements contained herein are based upon what management believes to be reasonable assumptions, management cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and Pieridae assumes no obligation to update or review them to reflect new events or circumstances except as required by applicable securities laws.

Forward-looking statements contained herein concerning the oil and gas industry and Pieridae’s general expectations concerning this industry are based on estimates prepared by management using data from publicly available industry sources as well as from reserve reports, market research and industry analysis and on assumptions based on data and knowledge of this industry which Pieridae believes to be reasonable. However, this data is inherently imprecise, although generally indicative of relative market positions, market shares and performance characteristics. While Pieridae is not aware of any misstatements regarding any industry data presented herein, the industry involves risks and uncertainties and is subject to change based on various factors.

Additional Reader Advisories
Barrels of oil equivalent (“boe”) may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 boe is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Abbreviations

Natural Gas		Liquids
Mcf	thousand cubic feet	bbl/d	barrels per day
Mcf/d	thousand cubic feet per day	boe/d	barrels of oil equivalent per day
MMcf/d	million cubic feet per day	WTI	West Texas Intermediate
AECO	Alberta benchmark price for natural gas	Mbbl	Thousand barrels
GJ	Gigajoule	MMbbl	Million barrels
Power		MMboe	Million barrels of oil equivalent
MW	Megawatt	C2	Ethane
MWh	Megawatt hour	C3	Propane
		C4	Butane
		C5/C5+	Condensate / Pentane

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

The MIL Network –

May 8, 2025

MIL-OSI USA: Rosen Statement on Rep. Amodei’s Flawed Proposal That Would Make Nevada Lose Out on Millions of Dollars in Public Land Sales to Pay for More Tax Cuts for Billionaires

US Senate News:

Source: United States Senator Jacky Rosen (D-NV)
WASHINGTON, DC – Today, U.S. Senator Jacky Rosen (D-NV) released the following statement after Congressman Mark Amodei (R-NV-02) and House Republicans snuck in a hastily-drafted proposal to sell off Nevada public lands to pay for more tax cuts for billionaires.
“I am outraged that Congressman Amodei sold out Nevadans in the dead of night by passing a flawed, hastily-drafted proposal that undermines the careful balance struck in the Washoe County Lands Bill and would result in our state losing out on much-needed funding. For years, I’ve worked in good faith with a wide array of stakeholders to craft a balanced bill that makes more land available for housing and economic development in Washoe County, while at the same time conserving precious public lands and advancing Tribal priorities,” said Senator Rosen. “While I will always support taking steps to address Nevada’s housing crisis, I will not support a Washington-drafted proposal that will lead to Nevada losing out on millions of dollars in funding for our local priorities like education and restoration around the Truckee River, all so Republicans in Washington can pay for more tax cuts for billionaires.”
Without consulting Senator Rosen or the rest of the Nevada delegation, Congressman Amodei proposed and passed a flawed amendment in the House Natural Resources Committee that would sell off nearly 16,000 acres of public lands in Washoe County and hundreds of thousands of acres of public lands in Pershing County to pay for Congressional Republicans’ budget reconciliation proposal. This proposal abandons key provisions in the Truckee Meadows Public Lands Management Act, also known as the Washoe County Lands Bill, and directs funds from public land sales in Nevada to the U.S. Treasury, instead of keeping the funding in Nevada. It also ignores the balance struck in Senator Rosen’s Pershing County Economic Development and Conservation Act.
Senator Rosen’s Truckee Meadows Public Lands Management Act would:
Permanently protect a million acres of public lands, which Congressman Amodei cut in his proposal.
Promote sustainable growth and economic development by directing over 15,200 acres of public lands to be made eligible for sale, all of which must be assessed for its suitability for new affordable housing. An additional 33 acres are set aside to only be sold for affordable housing. Any land sold for affordable housing would have to be sold at less than fair market value.
Support local Tribal communities by expanding land held in trust by more than 8,400 acres for the Reno-Sparks Indian Colony, 11,300 acres for the Pyramid Lake Paiute Tribe, and over 1,000 acres for the Washoe Tribe of Nevada and California, none of which is in the Amodei proposal.
Provide local governments over 3,700 acres for public purposes such as parks, water treatment facilities, and schools, all of which is excluded from the Amodei proposal. Land is specifically conveyed to Washoe County, the City of Reno, the City of Sparks, the Incline Village General Improvement District, the Gerlach General Improvement District, the State of Nevada, the Truckee River Flood Management Authority, the Washoe County School District, and the University of Nevada, Reno.
Keep proceeds from land sales in Nevada for priorities like education and restoration around the Truckee River, unlike the Amodei proposal that sends money from land sales to the federal government in Washington, D.C.
For years, Senator Rosen has worked closely with a wide range of stakeholders across Washoe County to develop this comprehensive legislation. In 2023, she unveiled a working draft of the bill and collected feedback from hundreds of Nevadans during a public comment period, which she then incorporated into this legislation, which was previously introduced last year with the support of local government officials, conservation advocates, and business leaders.

MIL OSI USA News –

May 8, 2025
MIL-OSI New Zealand: World must meet 1.5°C goal or risk “unprecedented” exposure

Source: Save The Children

Ahead of the 10th anniversary of the Paris Agreement, research released by Save the Children and Vrije Universiteit Brussel (VUB) found that under current climate commitments – which will likely see a global temperature rise of 2.7°C above pre-industrial levels – about 100 million of the estimated 120 million children born in 2020, or 83%, will face “unprecedented” lifetime exposure to extreme heat.
However, if the world limits warming to the 1.5°C Paris Agreement target, this would reduce the number of five-year-olds impacted to 62 million – a difference of 38 million – highlighting the urgency to protect children through rapidly phasing out the use and subsidy of fossil fuels. Dangerous heat is deadly for children, taking an immense toll on their physical and mental health, disrupting access to food and clean water and forcing schools to close .
Researchers defined an “unprecedented” life as an exposure to climate extremes that someone would have less than a 1 in 10,000 chance of experiencing during their life in a world without human-induced climate change. The research, published in the report Born into the Climate Crisis 2. An Unprecedented Life: Protecting Children’s Rights in a Changing Climate also found that meeting the 1.5°C target would protect millions of children born in 2020 from the severest impacts of other climate related disasters such as crop failures, floods, tropical cyclones, droughts and wildfires.
The report found that, for children born in 2020, if global temperature rise is limited to 1.5°C rather than reaching 2.7°C above pre-industrial levels:

About 38 million would be spared from facing unprecedented lifetime exposure to heatwaves;
About 8 million would avoid unprecedented lifetime exposure to crop failures;
About 5 million would be spared from unprecedented lifetime exposure to river floods;
About 5 million would avoid unprecedented lifetime exposure to tropical cyclones;
About 2 million would avoid unprecedented lifetime exposure to droughts;
About 1.5 million children would be spared unprecedented lifetime exposure to wildfires.

Climate extremes – which are becoming more frequent and severe due to climate change – are increasingly harming children, forcing them from their homes, putting food out of reach, damaging schools and increasing risks like child marriage as they are forced out of education and into poverty and food shortages.

Denise-, 16, and her family were forced from their home in Brazil when the country’s worst floods in 80 years devastated their community last year. Their home, including Denise’s bedroom, was severely damaged, and she was out of school for nearly two months.
She said: “It really affected me mentally, and academically too. Catching up on all my grades to pass secondary school was really tough, especially at a state school. It massively impacted my schoolwork. My grades dropped significantly after the floods.”
Children impacted by inequality and discrimination and those in lower-and middle-income countries, are often worst affected . Meanwhile they have fewer resources to cope with climate shocks and are already at far greater risk from vector and waterborne diseases, hunger, and malnutrition, and their homes are often more vulnerable to increased risks from floods, cyclones and other extreme weather events.
Haruka, 16, whose poem is featured in the report, is from Vanuatu, which recently experienced three of the most severe types of cyclone in just a year.
She said: “Cyclones are scary. For me, they continue to destroy my home, every year – we don’t even bother trying to fix the ceiling anymore. “The past few years, I’ve seen ceaseless destruction and constant rebuilding. This seemingly never-ending cycle has become our reality, and most people aren’t even aware that it’s not just nature doing its thing, but it’s us bearing the brunt of a crisis that we did not cause.”
As well as comparing conditions under 1.5°C and 2.7°C scenarios, the report also examines a scenario in which global temperatures rise to 3.5°C by 2100, which will lead to about 92% of children born in 2020 – about 111 million children [5] – living with unprecedented heatwave exposure over their lifetime. While we need a rapid phase-out of the use and subsidy of fossil fuels to stick to the 1.5°C target, we must not lose sight of solutions, Save the Children said.
The report highlights initiatives like increased climate finance, child-centred and locally led adaptation and increasing the participation of children in shaping climate action.
Inger Ashing, CEO of Save the Children International, said: “Across the world, children are forced to bear the brunt of a crisis they are not responsible for. Dangerous heat that puts their health and learning at risk; cyclones that batter their homes and schools; creeping droughts that shrivel up crops and shrink what’s on their plates. “Amid this daily drumbeat of disasters, children plead with us not to switch off. This new research shows there is still hope, but only if we act urgently and ambitiously to rapidly limit warming temperatures to 1.5°C , and truly put children front and centre of our response to climate change at every level.”
As the world’s leading independent child rights organisation, Save the Children works in about 110 countries, tackling climate across everything we do.
Save the Children supports children and their communities globally in preventing, preparing for, adapting to, and recovering from climate disasters and gradual climate change. We have set up floating schools, rebuilt destroyed homes and provided cash grants to families hit by disasters. We also work to influence governments and other key stakeholders on climate policies, including at the UNFCCC COP summits, giving children a platform for their voices to be heard.
READ FULL REPORT HERE.

MIL OSI New Zealand News –

May 8, 2025
MIL-OSI New Zealand: Local News – Government Funding Secured for Ava Rail Footbridge Replacement – Lower Hutt

Source: Hutt City Council

Lower Hutt Mayor Campbell Barry is welcoming confirmation the Government will co-fund the replacement of Ava Rail pedestrian footbridge, saying it’s “a great win for our community.”

Transport Minister Chris Bishop has agreed to $2.4 million of Crown funding for the project, covering half of the total cost.

Mayor Barry will recommend to councillors that Hutt City Council funds the remaining cost and delivers the new footbridge.

The existing pedestrian walkway has to be removed as part of work KiwiRail is doing to replace ageing infrastructure on the rail bridge it’s attached to.

Mayor Barry has spent months advocating for Government support to maintain this vital pedestrian connection in Lower Hutt by building a replacement footbridge.

“This is a fantastic result and a strong example of what we can achieve when local and central government work together”, Mayor Barry says.

“We made it clear that this bridge is an essential connection for people on both sides of the Hutt River-whether they’re heading to school, work, or simply getting from A to B. Thanks to the strong voices of our community, we’ve secured a commitment that ensures this vital link will not be lost.”

If approved by councillors, Hutt City Council will manage the delivery of the footbridge replacement and KiwiRail will remain involved in an advisory capacity.

“This project is now in our hands, and we’re committed to ensuring that a modern, safe and accessible bridge is delivered for our community”, Mayor Barry says.

If the new bridge gets the green light, it is expected to meet modern engineering standards and be an improvement on the current accessway, providing long-term pedestrian connectivity across the river.

The existing footbridge will remain open until just before the major rail shutdown scheduled for December 2025.

MIL OSI New Zealand News –

May 8, 2025
MIL-OSI USA: Chairwoman McClain and Rep. Pfluger Applaud House Passage of Bill to Block CCP Influence on American Campuses

Source: US House of Representatives Republicans

The following text contains opinion that is not, or not necessarily, that of MIL-OSI –

WASHINGTON — House Republican Chairwoman Lisa McClain (R-Mich.) and Rep. August Pfluger (R-Texas) issued the following statements after the U.S. House passed H.R. 881—the DHS Restrictions on Confucius Institutes and Chinese Entities of Concern Act— aiming at preventing the Chinese Communist Party (CCP) from influencing U.S. college campuses.

“There’s no place for Chinese propaganda in America. House Republicans are ending CCP influence on college campuses and ensuring taxpayer dollars are not funding foreign agendas,” Chairwoman McClain said. “My colleague Rep. Pfluger has done a great job getting this bill to the finish line, and I’m proud to have voted YES to pass this bill and defend our students from harmful CCP influence.”

“The CCP has proven to be an untrustworthy, adversarial actor by continually undermining American interests at every turn – in no world should they have a front-row seat in our classrooms funded by our own taxpayer dollars,” Rep. Pfluger said.“The passage of my legislation today sends a clear message: America’s universities and research labs will no longer be used to steal critical research, recruit talent for Military-Civil fusion enterprises, conduct espionage, commit transnational repression, and influence academic institutions to the benefit of the CCP. This is a victory for our national security and for the future generations of Americans.”

H.R. 881 prohibits the Department of Homeland Security (DHS) from providing funds to any higher education institution that hosts Confucius Institutes, which are nonprofit cultural and educational centers funded by the Chinese government used to spread influence and propaganda.

MIL OSI USA News –

May 8, 2025
MIL-OSI USA: Texas Man Convicted of Making Threats to Kill Nashville District Attorney Glenn Funk

Source: US State of North Dakota

David Aaron Bloyed, 60, of Frost, Texas, was found guilty today by a federal jury of one count of communicating a threat in interstate commerce to lynch and kill Glenn Funk, the elected District Attorney General (DA) for Nashville and Davidson County, Tennessee.

“The defendant’s heinous threats strike at the heart of our justice system and the safety of those who have chosen to serve. As today’s verdict demonstrates, violent threats and intimidation against government officials and law enforcement will not be tolerated,” said Sue J. Bai, Head of the Justice Department’s National Security Division. “I am grateful to our law enforcement partners and prosecution team for their swift and determined work to bring justice in this case.”

“Antisemitic hate has no place in Nashville or anywhere, and this verdict shows these hateful threats for what they are: a crime,” said Acting U.S. Attorney Robert E. McGuire for the Middle District of Tennessee. “Our office will do whatever it takes to defend our community, and the prosecutors who serve it, from being threatened by these hatemongers.”

“The conviction of David Bloyed is yet another example of the FBI’s commitment to holding those accountable who threaten public officials and the Jewish community,” said Assistant Director in Charge David J. Scott of the FBI’s Counterterrorism Division. “This criminal behavior and these disgusting threats will not be tolerated. The FBI will continue to work with our partners across the nation to investigate, identify, and hold those accountable who threaten violence and harm to specific communities and people.”

According to court documents, on July 14, 2024, members of the Goyim Defense League (GDL) – a national and international network of antisemitic provocateurs who espouse vitriolic antisemitism via the internet, through propaganda distributions and in street actions – were protesting in downtown Nashville on their “Name the Nose Tour” where its members travel to cities across the country to protest in the vicinity of synagogues and walk through the downtown hubs of cities with Nazi flags and yell antisemitic slurs at any individuals they encounter. GDL members encountered an employee of a local bar and a fight broke out. A GDL member was arrested and charged with aggravated assault for hitting the bar employee repeatedly using a metal flagpole with a swastika affixed to the top.

While in Nashville, GDL members routinely posted about their activities on various social media platforms, including Telegram. Following the arrest of the GDL member, a Telegram user associated with GDL posted threats against DA Funk that included a photograph of DA Funk with the caption, “Getting the rope,” and an emoji finger pointed towards Funk’s image.

The posts also included a photograph of a person hanging by the neck from a gallows, with the phrases, “The ‘Rope List’ grew by a few more Nashville jews today,” and “Will you survive the day of the rope?”

Law enforcement subsequently identified another social media account with an almost identical username, belonging to Bloyed and containing threats nearly identical to those posted on the Telegram account.

At sentencing, Bloyed faces up to five years in federal prison.

The FBI Nashville Field Office and the Metropolitan Nashville Police Department are investigating the case.

MIL OSI USA News –

May 8, 2025
MIL-OSI USA: Congressman Valadao Joins Bipartisan Group of Members to Reintroduce the Farm Workforce Modernization Act
Source: United States House of Representatives – Congressman David G. Valadao (California)

WASHINGTON – Today, Congressman David Valadao (CA-22) joined Reps. Zoe Lofgren (CA-18), Dan Newhouse (WA-04), Mike Simpson (ID-02), Jim Costa (CA-21), and Adam Gray (CA-13) to reintroduce the Farm Workforce Modernization Act. This bill, which passed the House of Representatives with strong bipartisan support in the 116th and 117th Congresses, updates the H-2A agricultural guest worker program and is a compromise solution that provides needed stability for farmers and farmworkers. Congressman Valadao was a co-lead of the bill in the 118th Congress and a co-sponsor in the 117th Congress.

“Central Valley farmers are the backbone of our nation’s agricultural industry, but they continue to face serious challenges finding and retaining a reliable workforce,” said Congressman Valadao. “The current H-2A program doesn’t meet the labor needs of many producers, but the Farm Workforce Modernization Act is a positive step to addressing our agriculture workforce needs and securing our food supply chain. Food security is national security, and I look forward to continuing to work with my colleagues on both sides of the aisle to find long-term solutions that support our farmers and strengthen our food supply chain.”

“The men and women who work America’s farms feed the nation. However, in the past few years, we’ve seen labor shortages contribute to high food prices,” said Rep. Lofgren. “As economic chaos and confusion continues, it is essential we provide stability to this critical workforce. The Farm Workforce Modernization Act would do so, which will protect the future of our farms and our food supply. It is well-past time we get this bipartisan legislation twice passed by the House of Representatives to the President’s desk.”

“The workforce crisis has come to a boiling point for farmers across the country. Reintroducing the Farm Workforce Modernization Act sends a clear message to farmers that we are working hard to find solutions that ease the burdens brought on by the current state of the H-2A program. This legislation is necessary to lay the groundwork for continued negotiations, and I am committed to working closely with my colleagues to enact long-term, durable reforms to our agriculture guest worker programs. This issue has been, and remains, my top priority and unified Republican government is an opportunity to deliver for our farmers and ranchers,” said Rep. Newhouse.

“The workforce crisis is the most important issue facing agriculture in our country,” said Rep. Simpson. “Supporting American agriculture means providing a stable, reliable, and legal workforce, and this legislative solution addresses one of the most pressing concerns our farmers and ranchers face. Now that we finally have an administration taking the border crisis seriously, Congress must address this issue and enact necessary reforms. It is well past time we solve this problem. I look forward to working with my colleagues and getting this critical legislation across the finish line to President Trump’s desk for his signature.”

“American agriculture depends on a reliable workforce and nowhere is that more true than in California’s San Joaquin Valley, where farmworkers are the backbone of our economy. This legislation is a common-sense, bipartisan solution that provides stability for our farmers and dignity for the workers who feed America. If President Trump is serious about fixing our broken immigration system, he should work with us to get this bill across the finish line,” said Congressman Costa.

“Farm workers and the larger agricultural community are the backbone of the Central Valley’s economy,” said Congressman Gray. “Labor shortages on our farms could lead to higher food prices across the country and the Valley cannot afford to be shorthanded. This commonsense bipartisan bill would stabilize our vital workforce and make sure Valley farmers can continue to feed families across the country.”

The Farm Workforce Modernization Act would:
- Reform the H-2A program to provide more flexibility for employers, while ensuring critical protections for workers.
- Establish a program for agricultural workers in the United States to choose to earn legal status through continued agricultural employment and contribution to the U.S. agricultural economy.
- Focus on modification to make the program more responsive and user-friendly for employers and provides access to the program for industries with year-round labor needs.
Read the full bill here.

###

MIL OSI USA News –
May 8, 2025

MIL-OSI New Zealand: NZ Treasury – Interim Financial Statements of the Government of New Zealand for the nine months ended 31 March 2025

Source: The New Zealand Treasury

The Interim Financial Statements of the Government of New Zealand for the nine months ended 31 March 2025 were released by the Treasury today. The March results are reported against forecasts based on the Half Year Economic and Fiscal Update 2024 (HYEFU 2024), published on 17 December 2024, and the results for the same period for the previous year.

The majority of the key fiscal indicators for the nine months ended 31 March 2025 were better than forecast. The Government’s main operating indicator, the operating balance before gains and losses excluding ACC (OBEGALx), showed a deficit of $6.6 billion. This was $0.5 billion smaller than forecast largely due to lower than forecast core Crown expenditure. Net core Crown debt was $2.1 billion lower than forecast at $182.0 billion, or 42.6% of GDP.

Core Crown tax revenue, at $89.5 billion, was $0.2 billion (0.2%) higher than forecast. While GST and other individuals’ tax were both above forecast by $0.5 billion each, this was broadly offset by source deductions and corporate tax which were below forecast by $0.5 billion and $0.3 billion, respectively.

Core Crown expenses, at $104.1 billion, were $0.6 billion (0.5%) below forecast. This variance included some significant offsetting variances and was mostly timing in nature. In particular, core government services expenses were $0.6 billion above forecast, while transport and housing expenses were $0.6 billion and $0.3 billion below forecast, respectively. The remaining variance was spread across a range of agencies.

The OBEGALx was a deficit of $6.6 billion, $0.5 billion less than the forecast deficit. When including the revenue and expenses of ACC, the OBEGAL deficit was $8.4 billion, $0.4 billion less than the forecast deficit.

The operating balance deficit of $4.5 billion was $0.8 billion higher than the forecast deficit. This reflected net unfavourable valuation movements along with the favourable OBEGAL result. Net gains on financial instruments were $4.0 billion lower than forecast, driven by the performance of the New Zealand Superannuation Fund (NZS Fund) and ACC’s investment portfolios. This unfavourable variance was partly offset by net losses on non-financial instruments being $2.6 billion less than forecast. This was largely owing to a $0.7 billion net actuarial gain on ACC’s outstanding claims liability compared to a forecast net loss of $1.0 billion, and the New Zealand Emissions Trading Scheme with net losses being $0.9 billion lower than forecast.

The core Crown residual cash deficit of $5.3 billion was $1.7 billion lower than forecast. While net operating cash flows were broadly in line with forecast, net core Crown capital cash outflows were $1.5 billion lower than forecast. This variance is expected to be timing in nature, mainly owing to net purchases of investments and net increases in advances which were both below forecast by $0.6 billion and $0.7 billion, respectively.

Net core Crown debt at $182.0 billion (42.6% of GDP) was $2.1 billion lower than forecast. This variance was largely due to the variance in core Crown residual cash deficit and the factors not impacting residual cash which improved net core Crown debt. Of these factors, the most significant was foreign exchange movements since the HYEFU 2024 forecast which have resulted in $0.5 billion of net gains improving net core Crown debt without impacting the core Crown residual cash indicator.

Gross debt at $206.0 billion (48.3% of GDP) was $0.5 billion higher than forecast, largely owing to higher than forecast government stock, partially offset by lower than forecast Treasury bills.

Net worth at $183.8 billion (43.1% of GDP) was $0.3 billion lower than forecast. The variance to forecast reflects a higher operating balance deficit discussed above, partially offset by net actuarial gains on retirement plan schemes ($0.5 billion). Net worth consisted of total Crown assets of $594.7 billion (in line with forecast) and total Crown liabilities of $410.9 billion ($0.3 billion higher than forecast).

	Year to date				Full Year
	March 2025 Actual1 $m	March 2025 HYEFU 2024 Forecast1 $m	Variance2 HYEFU 2024 $m	Variance HYEFU 2024 %	June 2025 HYEFU 2024 Forecast3 $m
Core Crown tax revenue	89,478	89,278	200	0.2	120,623
Core Crown revenue	99,124	99,152	(28)	–	134,038
Core Crown expenses	104,088	104,662	574	0.5	144,638
Core Crown residual cash	(5,297)	(7,018)	1,721	24.5	(16,610)
Net core Crown debt4	181,984	184,121	2,137	1.2	192,810
as a percentage of GDP	42.6%	43.1%			45.1%
Gross debt	205,997	205,456	(541)	(0.3)	206,558
as a percentage of GDP	48.3%	48.1%			48.3%
OBEGAL excluding ACC (OBEGALx)	(6,589)	(7,118)	529	7.4	(12,868)
OBEGAL	(8,370)	(8,774)	404	4.6	(17,317)
Operating balance (excluding minority interests)	(4,484)	(3,656)	(828)	(22.6)	(10,161)
Net worth	183,815	184,118	(303)	(0.2)	177,492
as a percentage of GDP	43.1%	43.1%			41.5%

Using the most recently published GDP (for the year ended 31 December 2024) of $426,925 million (Source: Stats NZ).
Favourable variances against forecast have a positive sign and unfavourable variances against forecast have a negative sign.
Using HYEFU 2024 forecast GDP for the year ending 30 June 2025 of $427,252 million (Source: The Treasury).
Net core Crown debt excludes the NZS Fund and core Crown advances. Net core Crown debt may fluctuate during the year largely reflecting the timing of tax receipts.

MIL OSI New Zealand News –

May 8, 2025

MIL-OSI Security: Texas Man Convicted of Making Threats to Kill Nashville District Attorney Glenn Funk

Source: United States Attorneys General 13

David Aaron Bloyed, 60, of Frost, Texas, was found guilty today by a federal jury of one count of communicating a threat in interstate commerce to lynch and kill Glenn Funk, the elected District Attorney General (DA) for Nashville and Davidson County, Tennessee.

“The defendant’s heinous threats strike at the heart of our justice system and the safety of those who have chosen to serve. As today’s verdict demonstrates, violent threats and intimidation against government officials and law enforcement will not be tolerated,” said Sue J. Bai, Head of the Justice Department’s National Security Division. “I am grateful to our law enforcement partners and prosecution team for their swift and determined work to bring justice in this case.”

“Antisemitic hate has no place in Nashville or anywhere, and this verdict shows these hateful threats for what they are: a crime,” said Acting U.S. Attorney Robert E. McGuire for the Middle District of Tennessee. “Our office will do whatever it takes to defend our community, and the prosecutors who serve it, from being threatened by these hatemongers.”

“The conviction of David Bloyed is yet another example of the FBI’s commitment to holding those accountable who threaten public officials and the Jewish community,” said Assistant Director in Charge David J. Scott of the FBI’s Counterterrorism Division. “This criminal behavior and these disgusting threats will not be tolerated. The FBI will continue to work with our partners across the nation to investigate, identify, and hold those accountable who threaten violence and harm to specific communities and people.”

According to court documents, on July 14, 2024, members of the Goyim Defense League (GDL) – a national and international network of antisemitic provocateurs who espouse vitriolic antisemitism via the internet, through propaganda distributions and in street actions – were protesting in downtown Nashville on their “Name the Nose Tour” where its members travel to cities across the country to protest in the vicinity of synagogues and walk through the downtown hubs of cities with Nazi flags and yell antisemitic slurs at any individuals they encounter. GDL members encountered an employee of a local bar and a fight broke out. A GDL member was arrested and charged with aggravated assault for hitting the bar employee repeatedly using a metal flagpole with a swastika affixed to the top.

While in Nashville, GDL members routinely posted about their activities on various social media platforms, including Telegram. Following the arrest of the GDL member, a Telegram user associated with GDL posted threats against DA Funk that included a photograph of DA Funk with the caption, “Getting the rope,” and an emoji finger pointed towards Funk’s image.

The posts also included a photograph of a person hanging by the neck from a gallows, with the phrases, “The ‘Rope List’ grew by a few more Nashville jews today,” and “Will you survive the day of the rope?”

Law enforcement subsequently identified another social media account with an almost identical username, belonging to Bloyed and containing threats nearly identical to those posted on the Telegram account.

At sentencing, Bloyed faces up to five years in federal prison.

The FBI Nashville Field Office and the Metropolitan Nashville Police Department are investigating the case.

MIL Security OSI –

May 8, 2025
MIL-OSI: Oportun Announces Continued Board Evolution

Source: GlobeNewswire (MIL-OSI)

SAN CARLOS, Calif., May 07, 2025 (GLOBE NEWSWIRE) — Oportun (Nasdaq: OPRT), a mission-driven financial services company, today announced that its Board of Directors will nominate Carlos Minetti and Raul Vazquez for election at the Company’s 2025 Annual Meeting of Shareholders (the “Annual Meeting”). Scott Parker and R. Neil Williams will not stand for reelection at the Annual Meeting, and the Board will be reduced from ten to eight members at that time. If the Board’s recommended candidates are elected, three of the Board’s seven independent directors will have joined the Board within eighteen months of the Annual Meeting. Following the conclusion of Mr. Williams’ tenure on the Board, the Board will select a new Lead Independent Director.

“The Board has thoughtfully repositioned Oportun for continued success. As part of that process, we took a comprehensive look at how to maintain the Board’s strength and independence, as well as its diversity of experience and expertise,” said Mr. Williams. “After benchmarking against industry peers and corporate governance best practices, and considering the perspectives of our shareholders, we recognized that a smaller Board would be both more conventional and efficient. I have full confidence the Board will continue to provide effective guidance and hold management accountable as the Company executes its strategic initiatives.”

“On behalf of the Board, I’d like to thank Scott and Neil for their service and contributions to the Company. We wish them all the best in their future endeavors,” said Ginny Lee, Chair of the Nominating, Governance and Social Responsibility Committee. “Looking ahead, we remain focused on vigorous and independent oversight of the Company’s strategy and execution, with a goal of driving improved operating performance and delivering enhanced shareholder value.”

About Oportun

Oportun (Nasdaq: OPRT) is a mission-driven financial services company that puts its members’ financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $19.7 billion in responsible and affordable credit, saved its members more than $2.4 billion in interest and fees, and helped its members save an average of more than $1,800 annually. For more information, visit Oportun.com.

Forward-Looking Statements

This press release contains forward-looking statements. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including statements as to our future performance and financial position, are forward-looking statements. These statements can be generally identified by terms such as “expect,” “plan,” “goal,” “target,” “anticipate,” “assume,” “predict,” “project,” “outlook,” “continue,” “due,” “may,” “believe,” “seek,” or “estimate” and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as “will,” “should,” “would,” “likely” and “could.” These statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events, financial trends and risks and uncertainties that we believe may affect our business, financial condition and results of operations. These risks and uncertainties include those risks described in our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. These forward-looking statements speak only as of the date on which they are made and, except to the extent required by federal securities laws, we disclaim any obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. In light of these risks and uncertainties, there is no assurance that the events or results suggested by the forward-looking statements will in fact occur, and you should not place undue reliance on these forward-looking statements.

Additional Information and Where to Find It

Oportun Financial Corporation (“Oportun”), its directors and certain executive officers are participants in the solicitation of proxies from stockholders in connection with Oportun’s 2025 Annual Meeting of Stockholders (the “Annual Meeting”). Oportun plans to file a proxy statement (the “2025 Proxy Statement”) with the Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for the Annual Meeting.

Jo Ann Barefoot, Mohit Daswani, Ginny Lee, Carlos Minetti, Louis Miramontes, Scott Parker, Sandra A. Smith, Richard Tambor, Raul Vazquez and R. Neil Williams, all of whom are members of Oportun’s board of directors, are participants in Oportun’s solicitation. Additional information regarding such participants, including their direct or indirect interests, by security holdings or otherwise, will be included in the 2025 Proxy Statement and other relevant documents to be filed with the SEC in connection with the Annual Meeting. Information relating to the foregoing can also be found in Oportun’s definitive proxy statement for its 2024 Annual Meeting of Stockholders (the “2024 Proxy Statement”), which was filed with the SEC on May 13, 2024, and is available here. Particular attention is directed to the sections of the 2024 Proxy Statement captioned “Directors, Executive Officers and Corporate Governance,” “Non-Employee Director Compensation,” “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters,” “Executive Compensation” and “Certain Relationships and Related Transactions.” To the extent that holdings of such participants in Oportun’s securities have changed since the amounts printed in the 2024 Proxy Statement, such changes have been reflected on the following filings: for Ms. Barefoot, on June 28, 2024; for Mr. Daswani, on June 28, 2024 and December 13, 2024; for Ms. Lee, on June 28, 2024; for Mr. Minetti, on June 28, 2024 and December 13, 2024; for Mr. Miramontes, on June 28, 2024; for Mr. Parker, on April 25, 2024, June 18, 2024, and June 28, 2024; for Ms. Smith, on June 28, 2024; for Mr. Tambor, on June 28, 2024 and June 28, 2024; for Mr. Vazquez, on June 18, 2024, September 12, 2024, December 2, 2024, March 12, 2025, and April 4, 2025; and for Mr. Williams, on June 28, 2024 and December 11, 2024.

Promptly after filing its definitive 2025 Proxy Statement with the SEC, Oportun will mail the definitive 2025 Proxy Statement and a GREEN proxy card to each stockholder entitled to vote at the Annual Meeting. STOCKHOLDERS ARE URGED TO READ THE 2025 PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT OPORTUN WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain, free of charge, Oportun’s proxy statement (in both preliminary and definitive form), any amendments or supplements thereto, and any other relevant documents filed by Oportun with the SEC in connection with the Annual Meeting at the SEC’s website, which is located here. Copies of Oportun’s definitive 2025 Proxy Statement, any amendments or supplements thereto, and any other relevant documents filed by Oportun with the SEC in connection with the Annual Meeting will also be available, free of charge, at Oportun’s website, which is located here, or by writing to Investor Relations, Oportun Financial Corporation, 2 Circle Star Way, San Carlos, CA 94070. In addition, copies of these materials may be requested, free of charge, from Oportun’s proxy solicitor, Innisfree M&A Incorporated, by calling toll-free to (877) 800-5195.

Investor Contact
Dorian Hare
(650) 590-4323
ir@oportun.com

Innisfree M&A Incorporated
Scott Winter / Gabrielle Wolf / Jonathan Kovacs
(212) 750-5833

Media Contact
John Christiansen / Bryan Locke
FGS Global
Oportun@fgsglobal.com

The MIL Network –

May 8, 2025

MIL-OSI: Petrus Resources Announces First Quarter 2025 Financial and Operating Results

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, May 07, 2025 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results as at and for the three months ended March 31, 2025.

Q1 2025 HIGHLIGHTS:

Capital Activity – Invested $17.3 million in capital during the quarter. Approximately 60% was directed toward the drilling, completing and tie-in of 7 gross (4.1 net) wells. Most of the remaining capital expenditures went to the construction of a 12-kilometer expansion of the North Ferrier pipeline, an infrastructure investment designed to enhance access to high quality undeveloped lands and enable cost-effective transportation of natural gas to Petrus’ operated Ferrier gas plant. Of the wells drilled in the quarter, 5 will flow through the North Ferrier pipeline.

Production – Average production was 8,929 boe/d⁽¹⁾ in the first quarter of 2025, relatively flat compared to 9,066 boe/d in the fourth quarter of 2024.

Commodity Prices – Total realized price was $29.35/boe, up 11% from $26.45/boe in the fourth quarter of 2024, primarily due to improved natural gas pricing.

Funds Flow⁽²⁾– Generated funds flow of $12.5 million ($0.10 per share⁽³⁾) in the first quarter of 2025, solidifying the gains realized in the fourth quarter of 2024.

Dividends – Paid regular monthly dividend of $0.01 per share, for a total of $3.8 million, during the first quarter of 2025. Shareholders chose to reinvest $2.6 million under the Company’s dividend reinvestment plan resulting in the issue of 2,005,522 common shares.

Net Debt⁽²⁾– Net debt increased to $66.0 million as at March 31, 2025, and net debt to annualized funds flow ratio⁽³⁾ increased to 1.3x. This increase was due to high capital spending in Q1, which was required to take advantage of time-sensitive strategic opportunities. Net debt is expected to decline in the second half of the year and is forecast to return to our 2025 guidance target of $60 million by year-end.

OUTLOOK⁽⁴⁾

The 2025 capital program began early in the year and remains on schedule. Drilling operations are continuing through spring breakup. Completion activities on the remaining uncompleted first quarter wells are under way and production is expected to come online later in May. The 12 kilometer North Ferrier pipeline extension is expected to be operational in May with both Petrus and third-party volumes flowing to the Ferrier gas plant.

For the remainder of 2025, Petrus has hedged approximately 56% of its forecasted production at an average price of $2.67/GJ for natural gas and CAD$94.75/bbl for oil. This strategic approach positions the Company to achieve its guidance targets and maintain financial stability. As always, Petrus is prepared to adapt its capital program in response to market dynamics, remaining focused on delivering sustainable returns to shareholders.

FIRST QUARTER 2025 CONFERENCE CALL

Date and Time: May 8, 2025, 11:00 a.m. (Mountain Time)
Please refer to the events page on Petrus’ website for conference call details and links: www.petrusresources.com/events

ANNUAL GENERAL MEETING
The Company’s Annual General Meeting will be held at Suite #1110, 240 4th Ave SW Calgary, Alberta, on Wednesday May 21, 2025 at 1:30 p.m. (Mountain Time).
Please refer to the events page on Petrus’ website for AGM details and links: www.petrusresources.com/events

An updated corporate presentation can be found on the Company’s website at www.petrusresources.com

For further information, please contact:
Ken Gray, P.Eng.
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. Refer to “Non-GAAP and Other Financial Measures”.}
_{⁽³⁾Non-GAAP ratio. Refer to “Non-GAAP and Other Financial Measures”.}
_{⁽⁴⁾Refer to “Advisories – Forward-Looking Statements”.}

SELECTED FINANCIAL INFORMATION

OPERATIONS	Three months ended Mar. 31, 2025		Three months ended Mar. 31, 2024		Three months ended Dec. 31, 2024		Three months ended Sept. 30, 2024		Three months ended Jun. 30, 2024
Average Production
Natural gas (mcf/d)	35,689		40,174		36,178		37,368		38,908
Oil and condensate⁽¹⁾ (bbl/d)	1,202		1,529		1,226		1,522		1,322
NGLs (bbl/d)	1,777		1,557		1,810		1,464		1,664
Total (boe/d)	8,929		9,783		9,066		9,215		9,471
Total (boe)⁽¹⁾	803,498		890,267		834,111		847,760		861,838
Liquids weighting	33	%	32	%	33	%	32	%	32	%
Realized Prices
Natural gas ($/mcf)	2.25		2.54		1.61		0.80		1.41
Oil and condensate⁽¹⁾($/bbl)	92.73		90.38		93.60		90.80		103.77
NGLs ($/bbl)	39.54		43.09		36.90		36.81		37.25
Total realized price ($/boe)	29.35		31.42		26.45		24.07		26.81
Royalty income	0.06		0.07		0.03		0.05		0.05
Royalty expense	(3.36	)	(3.89	)	(3.85	)	(3.06	)	(3.83	)
Net oil and natural gas revenue ($/boe)	26.05		27.60		22.63		21.06		23.03
Operating expense	(6.76	)	(6.76	)	(5.89	)	(6.10	)	(4.96	)
Transportation expense	(1.65	)	(1.81	)	(1.44	)	(1.46	)	(1.46	)
Operating netback⁽²⁾($/boe)	17.64		19.03		15.30		13.50		16.61
Realized gain (loss) on financial derivatives	1.14		2.90		3.04		2.49		(0.36	)
Other income (cash)	0.02		0.05		1.19		0.09		0.05
General & administrative expense	(1.41	)	(1.32	)	(2.10	)	(1.43	)	(1.34	)
Cash finance expense	(1.68	)	(1.78	)	(1.83	)	(1.95	)	(1.91	)
Decommissioning expenditures	(0.19	)	(0.61	)	(0.61	)	(0.12	)	(0.72	)
Funds flow & corporate netback ($/boe)⁽²⁾	15.52		18.27		14.99		12.58		12.33

FINANCIAL (000s except $ per share)	Three months ended Mar. 31, 2025		Three months ended Mar. 31, 2024		Three months ended Dec. 31, 2024		Three months ended Sept. 30, 2024		Three months ended Jun. 30, 2024
Oil and natural gas sales	23,630		28,039		22,085		20,446		23,150
Net income (loss)	(3,088	)	(5,333	)	(4,004	)	5,302		2,789
Net income (loss) per share
Basic	(0.02	)	(0.04	)	(0.03	)	0.04		0.02
Fully diluted	(0.02	)	(0.04	)	(0.03	)	0.04		0.02
Funds flow⁽²⁾	12,467		16,272		12,493		10,665		10,628
Funds flow per share⁽²⁾
Basic	0.10		0.13		0.10		0.09		0.09
Fully diluted	0.10		0.13		0.10		0.08		0.08
Capital expenditures	17,279		12,343		7,705		4,859		6,907
Weighted average shares outstanding
Basic	126,043		124,299		124,497		124,372		124,290
Fully diluted	126,043		124,299		124,497		126,686		126,559
As at period end
Common shares outstanding
Basic	127,469		124,259		125,113		124,372		124,372
Fully diluted	138,501		134,484		134,919		134,952		134,919
Total assets	427,955		427,574		420,124		421,196		419,584
Non-current liabilities	68,176		59,995		65,475		62,869		59,511
Net debt⁽²⁾	66,009		63,114		60,080		60,423		61,848

_{⁽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 ratio or non-GAAP financial measure. Refer to “Non-GAAP and Other Financial Measures”.}

NON-GAAP AND OTHER FINANCIAL MEASURES

This press release makes reference to the terms “operating netback” (on an absolute and $/boe basis), “corporate netback” (on an absolute and $/boe basis), “funds flow” (on an absolute, per share (basic and fully diluted) and $/boe basis), “net debt” and “net debt to annualized funds flow ratio”. 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.

Operating Netback
Operating netback is a common non-GAAP financial measure used in the oil and natural gas industry which is a useful supplemental measure to evaluate the specific operating performance by product type at the oil and natural gas lease level. The most directly comparable GAAP measure to operating netback is oil and natural gas sales. Operating netback is calculated as oil and natural gas sales less royalty expenses, operating expenses and transportation expenses, plus or minus the gain (loss) on risk management activities. See below for a reconciliation of operating netback to oil and natural gas sales.

Operating netback ($/boe) is a non-GAAP ratio used in the oil and natural gas industry which is a useful supplemental measure to evaluate the specific operating performance by product type at the oil and natural gas lease level. It is calculated as operating netbacks divided by weighted average daily production on a per boe basis. See below.

Corporate Netback and Funds Flow
Corporate netback or funds flow is a common non-GAAP financial measure used in the oil and natural gas industry which evaluates the Company’s profitability at the corporate level. Corporate netback and funds flow are used interchangeably. Petrus analyzes these measures on an absolute value and on a per unit (boe) and per share (basic and fully diluted) basis as non-GAAP ratios. Management believes that funds flow and corporate netback provide information to assist a reader in understanding the Company’s profitability relative to current commodity prices. They are calculated as the operating netback less general and administrative expense, less cash finance expense, less decommissioning expenditures, plus or minus other income (cash) and plus or minus the net realized gain (loss) on financial derivatives . See below for a reconciliation of funds flow and corporate netback to oil and natural gas sales.

Corporate netback ($/boe) or funds flow ($/boe) is a non-GAAP ratio used in the oil and natural gas industry which evaluates the Company’s profitability at the corporate level. Management believes that funds flow ($/boe) or corporate netback ($/boe) provide information to assist a reader in understanding the Company’s profitability relative to current commodity prices. It is calculated as corporate netbacks or funds flow divided by weighted average daily production on a per boe basis. See below.

Funds flow per share (basic and fully diluted) is comprised of funds flow divided by basic or fully diluted weighted average common shares outstanding.

	Three months ended March 31, 2025				Three months ended Dec. 31, 2024				Three months ended Sept. 30, 2024				Three months ended Jun. 30, 2024				Three months ended March 31, 2024
	$000s		$/boe		$000s		$/boe		$000s		$/boe		$000s		$/boe		$000s		$/boe
Oil and natural gas sales	23,630		29.41		22,085		26.48		20,446		24.12		23,150		26.86		28,039		31.50
Royalty expense	(2,703	)	(3.36	)	(3,212	)	(3.85	)	(2,593	)	(3.06	)	(3,305	)	(3.83	)	(3,461	)	(3.89	)
Net oil and natural gas revenue	20,927		26.05		18,873		22.63		17,853		21.06		19,845		23.03		24,578		27.61
Transportation expense	(1,324	)	(1.65	)	(1,203	)	(1.44	)	(1,239	)	(1.46	)	(1,259	)	(1.46	)	(1,615	)	(1.81	)
Operating expense	(5,429	)	(6.76	)	(4,915	)	(5.89	)	(5,172	)	(6.10	)	(4,271	)	(4.96	)	(6,018	)	(6.76	)
Operating netback	14,174		17.64		12,755		15.30		11,442		13.50		14,315		16.61		16,945		19.03
Realized gain (loss) on financial derivatives	912		1.14		2,539		3.04		2,115		2.49		(307	)	(0.36	)	2,583		2.90
Other income⁽¹⁾	17		0.02		991		1.19		77		0.09		40		0.05		48		0.05
General & administrative expense	(1,133	)	(1.41	)	(1,752	)	(2.10	)	(1,209	)	(1.43	)	(1,152	)	(1.34	)	(1,178	)	(1.32	)
Cash finance expense	(1,351	)	(1.68	)	(1,530	)	(1.83	)	(1,657	)	(1.95	)	(1,650	)	(1.91	)	(1,581	)	(1.78	)
Decommissioning expenditures	(152	)	(0.19	)	(510	)	(0.61	)	(103	)	(0.12	)	(618	)	(0.72	)	(545	)	(0.61	)
Funds flow and corporate netback	12,467		15.52		12,493		14.99		10,665		12.58		10,628		12.33		16,272		18.27

_{⁽¹⁾Excludes non-cash government grant related to decommissioning expenditures.}

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 and current portion of the lease obligation and decommissioning obligation. Petrus uses net debt as a key indicator of its leverage and strength of its balance sheet. Net debt is reconciled, in the table below, to long-term debt which is the most directly comparable GAAP measure.

($000s)	As at March 31, 2025		As at Dec. 31, 2024		As at Sept. 30, 2024		As at Jun. 30, 2024		As at Mar. 31, 2024
Long-term debt	25,000		25,000		25,000		25,000		25,000
Current assets	(15,763	)	(17,583	)	(20,258	)	(16,333	)	(21,081	)
Current liabilities	59,788		51,268		48,458		52,379		61,099
Current financial derivatives	(1,779	)	2,632		7,690		1,276		(716	)
Current portion of lease obligation	(164	)	(164	)	(230	)	(237	)	(263	)
Current portion of decommissioning liabilities	(1,073	)	(1,073	)	(237	)	(237	)	(925	)
Net debt	66,009		60,080		60,423		61,848		63,114

Net Debt to annualized funds flow ratio

Net debt to annualized funds flow ratio is a non-GAAP ratio because each of its components is a non-GAAP financial measure. This non-GAAP ratio is used by management as a key indicator of our leverage and the strength of our balance sheet. It is calculated by dividing our net debt at the end of the quarter by the funds flow for the quarter after it is annualized by multiplying it by four. Net debt to annualized fund flow ratio is not a standardized measure and, therefore, may not be comparable with the calculation of similar measures by other entities.

ADVISORIES

Basis of Presentation
Financial data presented above has largely been derived from the Company’s financial statements, prepared in accordance with GAAP which require publicly accountable enterprises to prepare their financial statements using IFRS. Accounting policies adopted by the Company are set out in the notes to the audited consolidated financial statements as at and for the year ended December 31, 2024. The reporting and the measurement currency is the Canadian dollar. All financial information is expressed in Canadian dollars, unless otherwise stated.

Forward-Looking Statements
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. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. 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: that the investment in the 12-kilometer expansion of the North Ferrier pipeline will enhance access to high quality undeveloped lands and enable cost-effective transportation of natural gas to Petrus’ operated Ferrier gas plant; that 5 of the wells drilled in the quarter will flow through the North Ferrier pipeline; that the completion activities on the uncompleted first quarter wells will begin in May and the anticipated timing of production coming on line; that the 12 kilometer North Ferrier pipeline extension will be operational in May and the anticipated timing and benefits therefrom; that our net debt is expected to decline in the second half of the year and is forecasted to return to our 2025 guidance target of $60 million by year-end; that with our current hedges for 2025, we are positioned to achieve guidance targets and maintain financial stability; that we are able to adjust our capital program in response to market dynamics; and that we are able to remain focused on delivering sustainable returns to shareholders.

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) the tariffs that are currently in effect on goods exported from or imported into Canada continue in effect for an extended period of time, the tariffs that have been threatened are implemented, that tariffs that are currently suspended are reactivated, the rate or scope of tariffs are increased, or new tariffs are imposed, 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 or threatened to be imposed by the U.S. on other countries and retaliatory tariffs imposed or threatened to be imposed by other countries on the U.S., will trigger a broader global trade war which 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, including by decreasing demand for (and the price of) oil and natural gas, disrupting supply chains, increasing costs, causing volatility in global financial markets, and limiting access to financing; 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, 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; extreme weather events, such as wild fires, floods, drought and extreme cold or warm temperatures, each of which could result in substantial damage to our assets 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 most recently filed annual information form. With respect to forward-looking statements contained in this press release, Petrus has made assumptions regarding: the duration and impact of tariffs that are currently in effect on goods exported from or imported into Canada, and that other than the tariffs that are currently in effect, neither the U.S. nor Canada (i) increases the rate or scope of such tariffs, reenacts tariffs that are currently suspended, 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 and royalty regimes; availability of skilled labour; timing and amount of capital expenditures; future exchange rates; 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 costs and 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, that our net debt is expected to decline in the second half of the year and is forecasted to return to our 2025 guidance target of $60 million by year-end, and the percentage of our forecast production for 2025 that is hedged, 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 improved 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

References to crude oil (or oil), natural gas liquids (“NGLs”), natural gas and average daily production in this document refer to the light and medium crude oil, conventional natural gas, and NGLs product types, as applicable, as defined in National Instrument 51-101 (“NI 51-101”), except as noted below.

NI 51-101 includes condensate within the NGLs product type. The Company has disclosed condensate as combined with crude oil and separately from other NGLs since the price of condensate as compared to other NGLs is currently significantly higher and the Company believes that this crude oil and condensate presentation provides a more accurate description of its operations and results therefrom. Crude oil therefore refers to light oil, medium oil, and condensate. NGLs refers to ethane, propane, butane and pentane combined. Natural gas refers to conventional natural gas.

Dividend Advisory

The Company’s future dividends, if any, and the level thereof is uncertain. Any decision to pay dividends on the common shares (including the actual amount, the declaration date, the record date and the payment date in connection therewith) will be subject to the discretion of the Board of Directors and may depend on a variety of factors, including, without limitation the Company’s business performance, financial condition, financial requirements, growth plans, expected capital requirements and other conditions existing at such future time including, without limitation, contractual restrictions and satisfaction of the solvency tests imposed on the Company under applicable corporate law. There can be no assurance that the Company will pay dividends in the future.

Abbreviations

$000’s	thousand dollars
$/bbl	dollars per barrel
$/boe	dollars per barrel of oil equivalent
$/GJ	dollars per gigajoule
$/mcf	dollars per thousand cubic feet
bbl	barrel
mbbl	thousand barrels
bbl/d	barrels per day
boe	barrel of oil equivalent
mboe	thousand barrel of oil equivalent
mmboe	million barrel of oil equivalent
boe/d	barrel of oil equivalent per day
GJ	gigajoule
GJ/d	gigajoules per day
mcf	thousand cubic feet
mcf/d	thousand cubic feet per day
mmcf/d	million cubic feet per day
bcf	billion cubic feet
NGLs	natural gas liquids
WTI	West Texas Intermediate

The MIL Network –

May 8, 2025

MIL-OSI Submissions: Fintec – Visa and Whish Money Announce a Strategic Alliance that is Set to Revolutionize Digital Payments and Financial Services Regionally and Globally

Source: Whish Money

Beirut, Lebanon, May 6, 2025 – Visa, a global payments technology leader, and Whish Money SAL, a leading regional fintech, are pleased to announce one of the most strategic partnerships in the region. This partnership will enable Whish to leverage Visa’s advanced services and technology for payments and money movement, while allowing Visa to expand its service offerings to over 1 million Whish app users. A signing ceremony was held to commemorate this significant collaboration, marking a new chapter in the fintech landscape of the region.

Leila Serhan, Senior Vice President at Visa and Group Country Manager for the North Africa, Levant and Pakistan (NALP) region, commented on the partnership: “This strategic partnership between Visa and Whish is the first in the levant region with an e-wallet and money transfer company, and we align with Whish on multiple pillars, most of which, trust and innovation. This partnership will enable us to bring our advanced payment technologies to a broader audience, facilitating seamless and secure money movement across the world. And as Whish is already present globally and is further expanding its reach, we can further facilitate the international growth through our presence in over 200 countries.”

Toufic Koussa, CEO and Co-Founder of Whish Money, added: “We are excited to embark on this new collaboration with Visa which marks a significant milestone for Whish Money. By integrating Visa’s cutting-edge technology and services, we are poised to enhance our payment solutions and provide even more secure and efficient financial services to our customers. This partnership underscores our commitment to innovation and excellence in the fintech industry and is a testament to the thorough and careful due diligence Visa undertakes while engaging in such an affiliation given their high compliance standards. Our commitment to compliance and security has enabled us to achieve this unique partnership in the region.”

This strategic alliance between Visa and Whish Money is set to revolutionize the fintech sector, bringing unparalleled advancements to digital payments and financial services regionally and globally. As both entities leverage their strengths and innovative technologies, the partnership will not only drive economic growth but also set a new benchmark for excellence and security in the industry.

About Visa:

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com .

About Whish Money:

Whish Money is part of Talaco Group that was established in 2004, specializing in technology, telecom, software development, money remittance, digital payments and logistics industries. Whish has been one of the first global fintech platforms disrupting the distribution of telecom, ISP, gaming, and gift card vouchers, in addition to the digitization of financial services to corporates, retailers, and end users. With over 1,200 agents in Lebanon and 3,000 points of sale in the UAE, Whish Money continues to expand its reach and impact. Today, Whish has offices in Lebanon, UAE, and the USA serving more than 1 million users in over 110 countries.

As a licensed and regulated company by the Central Bank of Lebanon, Whish Money adheres strictly to all local and international laws, regulations, and best practices including stringent Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) measures. Whish works closely with local and international authorities to detect and prevent financial crime. Its robust compliance framework, backed by advanced technology and experienced professionals, ensures that every transaction is screened against local and international watch lists, and is scrutinized to identify and mitigate potential risks, enabling it to provide secure and reliable financial services to its customers.

MIL OSI – Submitted News –

May 8, 2025
MIL-OSI Security: Security News: Texas Man Convicted of Making Threats to Kill Nashville District Attorney Glenn Funk

Source: United States Department of Justice 2

David Aaron Bloyed, 60, of Frost, Texas, was found guilty today by a federal jury of one count of communicating a threat in interstate commerce to lynch and kill Glenn Funk, the elected District Attorney General (DA) for Nashville and Davidson County, Tennessee.

“The defendant’s heinous threats strike at the heart of our justice system and the safety of those who have chosen to serve. As today’s verdict demonstrates, violent threats and intimidation against government officials and law enforcement will not be tolerated,” said Sue J. Bai, Head of the Justice Department’s National Security Division. “I am grateful to our law enforcement partners and prosecution team for their swift and determined work to bring justice in this case.”

“Antisemitic hate has no place in Nashville or anywhere, and this verdict shows these hateful threats for what they are: a crime,” said Acting U.S. Attorney Robert E. McGuire for the Middle District of Tennessee. “Our office will do whatever it takes to defend our community, and the prosecutors who serve it, from being threatened by these hatemongers.”

“The conviction of David Bloyed is yet another example of the FBI’s commitment to holding those accountable who threaten public officials and the Jewish community,” said Assistant Director in Charge David J. Scott of the FBI’s Counterterrorism Division. “This criminal behavior and these disgusting threats will not be tolerated. The FBI will continue to work with our partners across the nation to investigate, identify, and hold those accountable who threaten violence and harm to specific communities and people.”

According to court documents, on July 14, 2024, members of the Goyim Defense League (GDL) – a national and international network of antisemitic provocateurs who espouse vitriolic antisemitism via the internet, through propaganda distributions and in street actions – were protesting in downtown Nashville on their “Name the Nose Tour” where its members travel to cities across the country to protest in the vicinity of synagogues and walk through the downtown hubs of cities with Nazi flags and yell antisemitic slurs at any individuals they encounter. GDL members encountered an employee of a local bar and a fight broke out. A GDL member was arrested and charged with aggravated assault for hitting the bar employee repeatedly using a metal flagpole with a swastika affixed to the top.

While in Nashville, GDL members routinely posted about their activities on various social media platforms, including Telegram. Following the arrest of the GDL member, a Telegram user associated with GDL posted threats against DA Funk that included a photograph of DA Funk with the caption, “Getting the rope,” and an emoji finger pointed towards Funk’s image.

The posts also included a photograph of a person hanging by the neck from a gallows, with the phrases, “The ‘Rope List’ grew by a few more Nashville jews today,” and “Will you survive the day of the rope?”

Law enforcement subsequently identified another social media account with an almost identical username, belonging to Bloyed and containing threats nearly identical to those posted on the Telegram account.

At sentencing, Bloyed faces up to five years in federal prison.

The FBI Nashville Field Office and the Metropolitan Nashville Police Department are investigating the case.

MIL Security OSI –

May 8, 2025

MIL-OSI: Altus Group Announces Voting Results of 2025 Annual General Meeting of Shareholders

Source: GlobeNewswire (MIL-OSI)

TORONTO, May 07, 2025 (GLOBE NEWSWIRE) — Altus Group Limited (ʺAltus Group” or “the Company”) (TSX: AIF), a leading provider of commercial real estate intelligence, released today final voting results from its annual general meeting of shareholders (the “Meeting”) held virtually earlier today. A total of 39,662,907 common shares were represented at the Meeting, representing 87.84% of the 45,154,806 Common Shares of the Company as at the record date on March 26, 2025.

Each of the nominees proposed for election as a director as listed in the Company’s Management Information Circular dated March 26, 2025, was elected by a majority of votes to serve until the next annual meeting or until a successor is elected or appointed, as detailed below:

Name of Nominee	Votes For	%	Votes Withheld	%
Wai-Fong Au	39,098,051	99.14	340,078	0.86
Will Brennan	39,386,226	99.87	51,903	0.13
Angela L. Brown	38,462,331	97.53	975,798	2.47
Colin J. Dyer	38,200,152	96.86	1,237,977	3.14
Michael J. Gordon	39,313,842	99.68	124,287	0.32
James V. Hannon	39,317,393	99.69	120,736	0.31
Anthony W. Long	38,655,371	98.02	782,758	1.98
Raymond Mikulich	38,406,803	97.38	1,031,326	2.62
Carolyn M. Schuetz	39,218,970	99.44	219,159	0.56
Thomas W. Warsop, III	39,156,178	99.29	281,951	0.71
Janet P. Woodruff	38,173,037	96.79	1,265,092	3.21

The motion with respect to the appointment of the Company’s auditor, Ernst & Young LLP, was approved by a majority of votes. A total of 39,564,401 (99.77%) votes were cast in favour, with 89,234 (0.23%) votes withheld.

The advisory vote on approach to executive compensation was supported by a majority of votes, with a total of 38,395,561 (97.36%) votes cast in favour, and 1,042,568 (2.64%) votes against.

A replay of the Meeting is available through a webcast posted on Altus Group’s website, www.altusgroup.com, under the Company section.

About Altus Group

Altus connects data, analytics, and expertise to deliver the intelligence necessary to drive optimal CRE performance. The industry’s top leaders rely on our market-leading solutions and expertise to power performance and mitigate risk. Our global team of ~2,000 experts are making a lasting impact on an industry undergoing unprecedented change – helping shape the cities where we live, work, and build thriving communities. For more information about Altus (TSX: AIF) please visit www.altusgroup.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Martin Miasko
Sr. Director, Investor Relations and Strategy, Altus Group
(416) 204-5136
martin.miasko@altusgroup.com

The MIL Network –

May 8, 2025

MIL-OSI USA: Durbin Requests Probe Into Justice Department Use Of Aircraft For Personal Or Political Purposes

US Senate News:

Source: United States Senator for Illinois Dick Durbin
May 07, 2025
Request for a GAO review comes amid public reporting of Kash Patel’s repeated travel on government aircraft that raises questions about proper reimbursement and oversight compliance
WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee, today requested a review of the Department of Justice’s (DOJ) use of government-owned aircraft by senior executives, in light of concerns about compliance with federal regulations that restrict nonmission-related travel and require reimbursement for personal or political use.
In a letter to the Government Accountability Office (GAO), Durbin began by asserting his request, writing: “I write to request that the Government Accountability Office (GAO) conduct a comprehensive review of the Department of Justice’s (DOJ) use of government-owned aircraft by senior executives.”
Durbin continued by outlining policies and procedures for executive air travel, writing: “Multiple components within DOJ—including the Federal Bureau of Investigation (FBI), Drug Enforcement Administration (DEA), and United States Marshals Service (USMS)—own, lease, and operate a fleet of aircraft primarily to support mission-critical DOJ operations such as counterterrorism, criminal surveillance, and interdiction of illicit drug trafficking. While use of government aircraft for nonmission-related needs is generally prohibited by federal regulations, such aircraft can be made available regardless of the trip’s purpose for ‘required use travel,’ which is travel that ‘requires use of a [g]overnment aircraft to meet bona fide communications needs (e.g., 24-hour secure communications), security requirements (e.g., highly unusual circumstances that present a clear and present danger), or exceptional scheduling requirements… of an executive agency.’ The President has typically designated two executives within DOJ as ‘required use’ travelers—the Attorney General and the FBI Director—due to their need for special protective security measures and secure communications while in flight. However, federal guidance requires that such travelers reimburse the government for any travel that is for political or personal reasons.”
Durbin then cited recent reporting that FBI Director Kash Patel’s recent travel raises compliance questions, writing: “Some of these flights appear to coincide with official business, but it is not clear whether all travel was mission-related or personal in nature. Nonetheless, this reporting underscores the need for clarity on whether DOJ executives—including the FBI Director—are complying with applicable regulations and reimbursement requirements for nonmission-related travel and whether DOJ has sufficient internal controls to track and enforce those obligations.”
Durbin concluded with a request to update its 2013 report into the matter, writing: “Given these developments, I request that GAO review the circumstances in which DOJ aircraft are being used to transport executives for nonmission purposes, including the costs of these flights… This review is critical to ensuring the appropriate use of taxpayer resources and maintaining public trust in DOJ’s operations and use of taxpayer dollars.”
For a PDF of the letter to GAO, click here.
-30-

MIL OSI USA News –

May 8, 2025
MIL-OSI Russia: Leaders of Belarus and Guinea-Bissau held talks in Minsk

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

MINSK, May 7 (Xinhua) — Belarusian President Alexander Lukashenko and Guinea-Bissau President Oumarou Sisoko Embalo held talks in Minsk on Wednesday. The Belarusian leader announced his readiness to establish cooperation with the African country in all areas. The corresponding information was published by the press service of the Belarusian head of state.

According to A. Lukashenko, Belarus is ready to supply Guinea-Bissau with a wide range of necessary products, including food, clothing, footwear, and industrial goods. “I know that you really need to develop agriculture to the highest level. You probably understand very well that we are capable of providing you with the appropriate technological and technical support and services. You can count on us in this regard,” A. Lukashenko said.

In turn, U. Sisoku Embalo noted that Belarus’s vast experience in developing the agro-industrial complex is of great interest to his country. “We know that Belarus has accumulated vast experience in the agro-industrial complex. We would like to take advantage of this experience and thus open a kind of door to the future. I very much count on cooperation with Belarus,” he emphasized.

On the same day, representatives of Belarus and Guinea-Bissau signed documents aimed at strengthening bilateral cooperation. Among them is an intergovernmental agreement on the abolition of visas for holders of diplomatic, official and service passports. A memorandum of cooperation in the field of agriculture was also signed. In addition, the parties signed a memorandum of cooperation between the Ministry of Industry of Belarus and the Ministry of Trade and Industry of Guinea-Bissau. –0–

MIL OSI Russia News –

May 8, 2025

Category: Politics

Tech companies urged to join drive to cut crime

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VE Day boost for veterans’ healthcare

Background

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Prime Minister to set out vision for ‘defence dividend’ in a changed world

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Source: Hutt City Council