Category: Transport

MIL-OSI Australia: Over $200 million boost to South Tassie roads
Source: Australian Ministers for Regional Development

The Albanese Government is building Tasmania’s future, investing nearly $213 million to upgrade critical highways and build active transport routes across the south east of the state.

This includes $204 million to improve the Arthur Highway and widen the Sorell Rivulet Bridge.

The Arthur Highway and Sorell Rivulet Bridge form the main access route between Port Arthur, Sorell and Hobart, providing a critical corridor for residents and tourists between some of the state’s most popular and populous destinations.

This investment will ease congestion for a growing community, as well as benefit agricultural and water supply businesses, tourists and local residents.

Funding will go towards safety upgrades including overtaking lanes, intersection improvements, and road modifications to enhance traffic flow such as shoulder widening and changes to lane configuration. It is expected to also include works to enable active and public transport as well as better signage and tourism pullover areas.

The Brooker Highway will also receive a $4 million investment to enable planning for critical safety and efficiency improvements. This will focus on identifying works that are most needed to improve safety, capacity, and resilience, and support active travel on one of Hobart’s major arterial roads.

An additional $2 million has also been committed to undertake further public transport planning on the Northern Suburbs Transit Corridor. This is part of the Albanese Government’s now $40.5 million investment in enhancing public transport infrastructure across Hobart.

Along with roads and public transport, the Albanese Government is better connecting communities by delivering walking and cycling paths.

Almost $3 million will be invested under the Active Transport Fund in two new projects across the south east of the state to build new or upgrade existing bicycle and walking paths:
- More than $2.2 million for the Tasman Council for a four-kilometre multi-use walking track connecting the towns of Nubeena and White Beach, south-east of Hobart;
- Almost $500,000 for Brighton Council to design and build a new shared path connecting to the existing path along the East Derwent Highway and to the new Bridgewater Bridge. This project also includes an extension of the path along Glenstone Road in Brighton, linking it to the pathway network within the Brighton township.
We have brought forward $15.6 million of funding for the Tasmanian Freight Rail Revitalisation – Tranche 4 – Network project, which has a total Australian Government commitment of $81.6 million. This will allow the ongoing delivery of improved network performance and assurance of supply chains for Tasmania’s largest freight producers.

The Albanese Government is making our cities and regions even better places to live, building social infrastructure, connecting place and designing healthier, more liveable towns.

The new Active Transport Fund is one part of this, providing safe and accessible transport options that mean more people have the chance to walk, cycle or push a pram to work, school and anywhere else.

More information on the Active Transport Fund is available at Active Transport Fund | Infrastructure Investment Program.

Quotes attributable to Minister for Infrastructure, Transport, Regional Development and Local Government Catherine King:

“The Albanese Government is investing in the transport projects that matter most to Tasmanians, upgrading the state’s critical highways including the Bass, Tasman, Arthur, Esk and Brooker Highways.

“We’re making Tasmania’s roads safer, stronger and more efficient which means convenient commutes and faster freight.”

Quotes attributable to Federal Member for Lyons Brian Mitchell:

“These projects add to the Albanese Labor Government’s infrastructure investments throughout regional Tasmania.

“In Lyons for example, the Albanese Government is also investing $10 million towards improving the resilience of Esk Main Road at St Marys Pass.

“It is projects like these that are making our roads safer and improving driver experiences.”

MIL OSI News –
March 4, 2025
MIL-OSI Australia: Minister Rishworth interview on the Today Show with Charles Croucher

Source: Ministers for Social Services

4 March 2025

E&OE TRANSCRIPT

Topics: Laos methanol poisoning investigation; Rugby League in Las Vegas; Academy Awards.

CHARLES CROUCHER, HOST: Welcome back. The parents of Holly Bowles and Bianca Jones, who died of methanol poisoning in Laos, are urging travellers to boycott the country until it adequately investigates their daughter’s deaths. Joining us to discuss is Minister for Social Services Amanda Rishworth and Nationals Senator Bridget McKenzie. Good morning to you both. Amanda, I’m going to start with you. There are concerns that are boycott might discourage authorities there from doing the right thing by these families. How do we approach this?

AMANDA RISHWORTH, MINISTER FOR SOCIAL SERVICES: Firstly, I would say the Australian Government continues to stand with Holly and Bianca’s family and continues to of course press the Laos Government to fully and transparently investigate these circumstances. Of course, there are warnings on Smartraveller which is an important government resource to look at the risks. But we as a Government will continue to press for a full investigation because it is really important that any issues that emerge from that are addressed to make sure travellers are safe.

CHARLES CROUCHER: I guess the issue is, is there something more the Government can be doing if the parents are now encouraging travellers to do the lobbying for them?

AMANDA RISHWORTH: We have continued on an ongoing basis to have conversations and to continue to press the Laos Government and we will continue to do that. We’ve been providing consular support to Bianca’s and Holly’s families. We will continue to do everything we can as a Government to push this. But it’s important people are properly informed when they do travel overseas about what the risks are.

CHARLES CROUCHER: Bridget, can we be doing more?

BRIDGET MCKENZIE, NATIONALS SENATOR: Well, I think the Government’s outlined that it’s pursuing every diplomatic measure it can. It’s an absolute tragedy what happened to Holly and Bianca. We don’t want any other young Australians who go overseas for a great holiday to suffer the same fate. So, we need to be pushing for a full investigation so that the issues can be made clear. And you know, we back the Government all the way in their efforts to do that.

CHARLES CROUCHER: And we stay with the parents because it’s such a tough situation they’ve been in, and we’ve been sort of amazed at how brave they’ve been in speaking out as well. Well, we’re going to move on because the NRL’s Vegas gamble well and truly paid off. It reached, we’re told, an audience that was unprecedented and generated more than $100 million. Now the attention turns to the AFL which weather permitting, will kick off on Thursday. Bridget, you’re a Senator from Victoria. It’s the AFL home state. Are they getting beaten when it comes to launching the season by the people from up north.

BRIDGET MCKENZIE: Look, we know that NRL is a spectator sport that had the most successful seat opening since 2010. And I think what really resonated with the US was no helmets, no pads, all action, no timeout. And I mean, when you compare that to the NFL, the US rocked up in droves to actually see the NRL live. Obviously, Charles, I am from Victoria. We’ve got the G and we pack it out week in, week out to watch our great game. So, you know, I think it’s the difference between the two sports. One is, you know, best live and the other is building that, you know, a sustainable funding base going forward. Because we know if the NRL gets 1 per cent of the US market, it’ll be sustaining funding for them going forward, which is also good news in decades to come.

CHARLES CROUCHER: A great TV product, of course, and it’s on Nine as well, which shows. Amanda, Gather Round [AFL] is in South Australia. Never ruined that with an election on the same weekend, obviously. But should the AFL be doing more to make this round the number one?

AMANDA RISHWORTH: Well, you know, the Gather Round is an absolutely amazing round, I have to say. It brings a buzz not just to South Australia but to footy fans, to be all in the same place. I think the AFL has been looking at how they engage their audiences and I would say that Gather Round is a great example of that and will continue to do so. But congratulations to the NRL. And hopefully we’ll start seeing people in America wearing those NRL colours. But of course, I would like to see everyone in America wearing some AFL colours as well. And I think we can all work towards that.

CHARLES CROUCHER: All right, finally, from Conan O’Brien’s opening monologue to Anora’s sweeping success, the Oscars delivered a host of memorable moments. We’re sort of short on time, so I might even just go with a hands up approach here. But did anyone tune in and has anyone seen any of the movies that are nominated this year?

BRIDGET MCKENZIE: Too busy fighting Labor.

AMANDA RISHWORTH: I’ve seen Wicked.

BRIDGET MCKENZIE: Charles, I’m halfway through Conclave on a flight.

CHARLES CROUCHER: That’s probably the way you’re going to do it. And Amanda’s seen Wicked. So that’s a good sign of the way things are going for Conclave and Wicked – two brutal fights of political natures. And that shapes well for whatever’s to come in the next couple of weeks. Really lovely speaking to both you this morning.

MIL OSI News –

March 4, 2025

MIL-OSI USA: S. 216, Save Our Seas 2.0 Amendments Act

Source: US Congressional Budget Office

S. 216 would authorize annual appropriations for the Marine Debris Program within the National Oceanic and Atmospheric Administration (NOAA) and would authorize a single-year appropriation for the Marine Debris Foundation. The bill would allow the foundation to match contributions from foreign governments and from tribal and regional organizations. Both the program and the foundation support efforts to remove plastics, discarded fishing gear, and other harmful materials from the marine environment.

CBO assumes that the bill will be enacted in 2025 and that the authorized amounts will be provided in each year. On that basis, and using historical spending patterns, CBO estimates that implementing the bill would cost $77 million over the 2025-2030 period. The costs of the legislation, detailed in Table 1, fall within budget function 300 (natural resources and environment).

Marine Debris Program

S. 216 would reauthorize the appropriation of $15 million annually from 2025 through 2029 for NOAA to operate the Marine Debris Program. In 2024, NOAA allocated $36 million for the program. CBO estimates that implementing this provision would cost $75 million over the 2025-2030 period.

Table 1. Estimated Increases in Spending Subject to Appropriation Under S. 216
	By Fiscal Year, Millions of Dollars
	2025	2026	2027	2028	2029	2030	2025-2030
Marine Debris Program
Authorization	15	15	15	15	15	0	75
Estimated Outlays	13	15	15	15	15	2	75
Marine Debris Foundation
Authorization	2	0	0	0	0	0	2
Estimated Outlays	1	1	0	0	0	0	2
Total Increases
Authorization	17	15	15	15	15	0	77
Estimated Outlays	14	16	15	15	15	2	77

Marine Debris Foundation

The bill would authorize the appropriation of $2 million in 2025 for the Marine Debris Foundation to match external contributions. An appropriation of $10 million a year was authorized for the foundation to match contributions from private individuals or from state and local governments but that authorization expired at the end of 2024; the Congress has not appropriated any funds for the foundation to date. The bill would allow the foundation to match contributions from foreign governments, tribal governments and organizations, and other regional organizations. CBO estimates that implementing this provision would cost $2 million over the 2025-2030 period.

The foundation is authorized to invest appropriated funds in Treasury securities and to spend any credited interest without further appropriation. The collection and spending of contributions as well as the spending of credited interest are classified in the budget as direct spending. CBO estimates that the net effect on direct spending from the additional contributions to the foundation would be insignificant over the 2025-2035 period because those collections would be spent quickly. CBO also expects that the spending of any interest credited to the foundation would be insignificant.

The CBO staff contact for this estimate is Aurora Swanson. The estimate was reviewed by H. Samuel Papenfuss, Deputy Director of Budget Analysis.

Phillip L. Swagel

Director, Congressional Budget Office

MIL OSI USA News –

March 4, 2025

MIL-OSI USA: Houston resident heads to prison for trafficking fentanyl in hidden compartment following ICE Rio Grande Valley, federal partner investigation

Source: US Immigration and Customs Enforcement

BROWNSVILLE, Texas — A Houston woman was sentenced following her conviction for possession with intent to distribute fentanyl following an investigation conducted by U.S. Immigration and Customs Enforcement in coordination with U.S. Customs and Border Protection.

Alyssa Marie Maldonado, 40, was sentenced on Feb. 25 by U.S. District Judge Fernando Rodriguez to serve 36 months in federal prison to be immediately followed by three years of supervised release. At the hearing, the court heard additional testimony that detailed Maldonado’s culpability in the crime. In handing down the sentence, the court noted her connection to the smuggling through her actions to conceal the drugs within the vehicle. Maldonado pleaded guilty Oct. 16, 2024.

“Today’s sentencing underscores the serious consequences of fentanyl trafficking. ICE is committed to holding those responsible for distributing this deadly drug accountable and to working with our partners to protect communities from its devastating effects,” said ICE Homeland Security Investigations Rio Grande Valley Deputy Special Agent in Charge Mark Lippa.

According to court documents, on March 24, 2024, Mendoza applied for entry into the United States at the Brownsville and Matamoros International Port of Entry. At initial inspection, she made a negative declaration to any contraband within the vehicle and provided false statements concerning her reasons for visiting Mexico. Authorities referred her to secondary inspection where a K-9 soon alerted to the rear back seat area. They then discovered anomalies in the fuel tank and found 22 packages which field tested positive for fentanyl. The combined weight was 8.70 kilograms.

Previously released on bond, Maldonado was taken into custody following the sentencing where she will remain pending transfer to a U.S. Bureau of Prisons facility to be determined in the near future.

Assistant U.S. Attorney Zachary Blackmon from the Southern District of Texas prosecuted the case.

MIL OSI USA News –

March 4, 2025
MIL-OSI Security: Former Hapeville Police Officer Charged with Excessively Tasing Detainee

Source: Office of United States Attorneys

ATLANTA – Shevoy Brown, a former officer with the Hapeville (GA) Police Department, has been arraigned on charges of using unreasonable force by repeatedly tasing a handcuffed detainee who had been arrested for trespassing.

“Our local law enforcement partners employ dedicated officers who risk their lives and safety every day to help make our district safer. This indictment alleges conduct by a former officer that runs counter to the culture of professionalism and public service that epitomizes the work performed by police officers in and outside our district,” said Acting United States Attorney Richard S. Moultrie, Jr.

“People being held under arrest have the right to be treated humanely,” said FBI Atlanta Special Agent in Charge Paul Brown. “The FBI and our law enforcement partners will continue to protect the civil rights of the public and ensure those who abuse their power are held responsible.”

According to Acting U.S. Attorney Moultrie, the indictment, information provided in court, and other publicly available information: On June 3, 2024, Hapeville, Georgia Police Department officers arrested a man for trespassing and transported him to the department’s headquarters. The man was placed alone in a small holding cell and handcuffed to a stationary bench. Although the detainee was a threat to no one, former Hapeville Police Officer Shevoy Brown allegedly tased him at least six times without any legal justification. The repeated tasing injured the detainee and required medical attention. Following the tasing, Brown allegedly wrote a false use of force report to cover up his conduct. So in addition to the offense of excessive force, Brown is also charged with obstruction of justice.

Shevoy Brown, of Hampton, Georgia, was arraigned before Chief U.S. Magistrate Judge Russell G. Vineyard. He was indicted by a federal grand jury on February 12, 2025.

Members of the public are reminded that the indictment only contains charges. The defendant is presumed innocent, and it will be the government’s burden to prove his guilt beyond a reasonable doubt at trial.

This case is being investigated by the Federal Bureau of Investigation with assistance from the Georgia Bureau of Investigation.

Assistant United States Attorneys Brent Alan Gray and Bret R. Hobson are prosecuting the case.

For further information please contact the U.S. Attorney’s Public Affairs Office at USAGAN.PressEmails@usdoj.gov or (404) 581-6280. The Internet address for the U.S. Attorney’s Office for the Northern District of Georgia is http://www.justice.gov/usao-ndga.

MIL Security OSI –

March 4, 2025
MIL-OSI Security: Illegal alien felon imprisoned for unlawfully reentering the U.S.

Source: Office of United States Attorneys

McALLEN, Texas – A 30-year-old Mexican national with a felony criminal history has been sentenced for illegally entering the county without authorization for the fourth time, announced U.S. Attorney Nicholas J. Ganjei.

Jesus Alberto Castro-Garza pleaded guilty Dec. 19, 2024.

U.S. District Judge Drew B. Tipton has now imposed a 106-month-term of imprisonment for Castro-Garza. Not a U.S. citizen, he is expected to again face removal proceedings following his imprisonment.

Castro-Garza has prior felony convictions for injury to a child, assault family violence impeding breath, evading with a vehicle and human smuggling. He was removed from the country first in 2019 and illegally returned three times. He was last removed Nov. 21, 2023.

Then on Dec. 24, 2023, authorities discovered him again in the United States in custody at a local jail.

Castro-Garza will remain in custody pending transfer to a U.S. Bureau of Prisons facility to be determined in the near future.

Immigrations and Customs Enforcement conducted the investigation. Assistant U.S. Attorney Amanda McColgan prosecuted the cases.

MIL Security OSI –

March 4, 2025
MIL-OSI Security: Illegal alien sentenced for exporting firearm parts

Source: Office of United States Attorneys

McALLEN, Texas – A 55-year-old Mexican citizen has been sentenced for exporting firearm parts from the United States into Mexico, announced U.S. Attorney Nicholas J. Ganjei.

Oscar Daniel Ramirez Gonzalez pleaded guilty Dec. 12, 2024.

U.S. District Judge Drew B. Tipton has how sentenced Ramirez Gonzalez to serve 24 months in federal prison. Not a U.S. citizen, he is expected to face removal proceedings following the sentence.

On Nov. 9, 2024, Ramirez Gonzalez attempted to exit the United States and enter Mexico through the Pharr Port of Entry.

Authorities referred him to secondary inspection where they conducted a search of the vehicle and found a firearm upper receiver, lower receiver, four bottles of gun powder and several thousand rounds of ammunition cartridges in various calibers.

Ramirez Gonzalez did not possess a license to export the items from the United States.

He has been and will remain in custody pending transfer to a U.S. Bureau of Prisons facility to be determined in the near future.

Customs and Border Protection conducted the investigation. Assistant U.S. Attorney Amanda McColgan prosecuted the case.

MIL Security OSI –

March 4, 2025
MIL-OSI Security: Sioux City Man Sentenced to Federal Prison for Drug Convictions

Source: Office of United States Attorneys

Traffic stop leads to seizure of multiple controlled substances packaged for redistribution

Shannon Ivory, 43, from Sioux City, Iowa, was sentenced on February 27, 2025, to 125 months’ imprisonment. Ivory pled guilty July 31, 2024, in federal court, to four counts of possession with intent to distribute controlled substances.

Evidence at the sentencing hearing showed that on March 20, 2023, Ivory was arrested by federal agents as a fugitive on State of Iowa charges. During the arrest, multiple types of illegal drugs in separate packaging for distribution were found on Ivory, including over 26 grams of pure methamphetamine; over 15 grams of crack cocaine; over 4 grams of powder cocaine; and 25 morphine pills. Ivory admitted to possessing the drugs and his intent to distribute them to other persons.

Sentencing was held before United States District Court Judge Leonard T. Strand. Ivory was sentenced to 125 months’ imprisonment and must serve a five-year term of supervised release following imprisonment. There is no parole in the federal system. Ivory is being held in the United States Marshal’s custody until he can be transported to a federal prison.

The case was prosecuted by Assistant United States Attorney Shawn S. Wehde and was investigated by the United States Marshal’s Service, the Sioux City, Iowa Police Department, and the Tri-State Drug Task Force based in Sioux City, Iowa, that consists of law enforcement personnel from the Drug Enforcement Administration; Sioux City, Iowa, Police Department; Homeland Security Investigations; Woodbury County Sheriff’s Office; South Sioux City, Nebraska, Police Department; Nebraska State Patrol; Iowa National Guard; Iowa Division of Narcotics Enforcement; United States Marshals Service; South Dakota Division of Criminal Investigation; and the Woodbury County Attorney’s Office.

Court file information at https://ecf.iand.uscourts.gov/cgi-bin/login.pl.

The case file number is 23-4038. Follow us on Twitter @USAO_NDIA.

MIL Security OSI –

March 4, 2025
MIL-OSI Security: Fort Dodge, Iowa Man to Federal Prison for Illegal Possession of Firearm

Source: Office of United States Attorneys

Lennox Vanvacter, 32, was convicted by a jury on October 10, 2024, after a three-day trial in federal court in Sioux City, to one count of prohibited person in possession of a firearm. The verdict was returned following about 7 hours of jury deliberations.

The evidence at trial and sentencing showed that on July 30, 2023, Fort Dodge/Webster County law enforcement officers observed Vanvacter operating a motor vehicle. Based on their observations and the fact Vanvacter had an active arrest warrant for a previous eluding charge, officers attempted to initiate a traffic stop and apprehend him. When emergency lights/sirens were activated, Vanvacter engaged in a high-speed driving-based attempt (approximately 30 minutes in duration) to elude law enforcement, including speeds of 70 mph or more in Fort Dodge and 100 mph or more outside city limits in Webster County. Two sets of spike strips were deployed by officers and ultimately helped stop the vehicle. Once stopped, Vanvacter attempted to flee from the officers on foot but was captured a short distance later. Officers located a firearm, a loaded Smith & Wesson 9mm pistol, near the end of the vehicle’s flight path. Later, officers determined by review of patrol car camera video, that the firearm was thrown from the vehicle by Vanvacter. Vanvacter had a history of leading law enforcement on high-speed driving pursuits.

Sentencing was held before United States District Court Judge Leonard T. Strand Vanvacter was sentenced to 144 months’ imprisonment and must serve a three-year term of supervised release following imprisonment. There is no parole in the federal system. Vanvacter remains in custody of the United States Marshal until he can be transported to a federal prison.

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

The case was prosecuted by Assistant United States Attorney Shawn S. Wehde and was investigated by the Iowa Division of Narcotics Enforcement, Fort Dodge Police Department, Webster County Sheriff’s Office, Iowa DCI Laboratory, and Bureau of Alcohol, Tobacco, Firearms, and Explosives, as well as assisted by the Woodbury County Sheriff’s Office, the Sioux City Police Department, the Woodbury County Attorney’s Office, the Hamilton County Sheriff’s Office, and the Hamilton County Attorney’s Office.

Court file information at https://ecf.iand.uscourts.gov/cgi-bin/login.pl.

The case file number is 23-3037. Follow us on X @USAO_NDIA.

MIL Security OSI –

March 4, 2025
MIL-OSI Security: Donna man sentenced for smuggling 49 illegal aliens

Source: Office of United States Attorneys

CORPUS CHRISTI, Texas – A 31-year-old South Texan has been ordered to federal prison for illegally smuggling dozens of people into the United States on two separate occasions, announced U.S. Attorney Nicholas J. Ganjei.

Joe Adam Escobedo pleaded guilty Sept. 26, 2024.

U.S. District Judge David Morales has now ordered him to serve 57 months in each case to run concurrently. He was also ordered to serve an additional 12 months to run consecutively for a total of 69 months in federal prison to be immediately followed by three years of supervised release. In handing down the sentence, the court noted the fact that Escobedo committed the second offense with 42 aliens and it was the very thing for which he had been on bond and imposed the consecutive sentence.

“The Southern District of Texas will vigorously pursue alien smuggling cases, given the risk they pose both to the persons smuggled as well as the public at large,” said Ganjei. “Tractor trailer smuggling can be especially hazardous, given the confined space and the unpredictable Texas weather. All it would have taken is a refrigeration malfunction for this smuggling scheme to have turned deadly.”

On April 12, 2024, Escobedo approached the Falfurrias Border Patrol checkpoint driving a tractor-trailer. He claimed he was heading to Michigan and was hauling pineapples in the trailer. Authorities referred him to secondary inspection after a K-9 alerted to the tractor where they ultimately found seven illegal aliens from El Salvador and Mexico hidden in the sleeper area of the tractor.

He was charged with alien smuggling but permitted release upon posting bond.

Then again, on June 11, 2024, Escobedo drive a refrigerated tractor trailer to the came checkpoint. During primary inspection, law enforcement noticed Escobedo gripping the steering wheel firmly and displaying signs of nervousness and referred him again to secondary inspection. Agents scanned the trailer and observed several anomalies in the trailer.

They then discovered a total of 42 additional people from the countries of Ecuador, Guatemala, El Salvador, Honduras and Mexico. All were found to be illegally in the United States.

Escobedo will remain in custody pending transfer to a U.S. Bureau of Prisons facility to be determined in the near future.

Customs and Border Protection conducted the investigation. Assistant U.S. Attorney Yasmine K. Tucker prosecuted the case.

MIL Security OSI –

March 4, 2025

MIL-OSI Economics: W&T Offshore Announces Fourth Quarter and Full Year 2024 Results Including Year-End 2024 Proved Reserves, Provides Guidance for 2025 and Declares Dividend for First Quarter of 2025

Source: W & T Offshore Inc

Headline: W&T Offshore Announces Fourth Quarter and Full Year 2024 Results Including Year-End 2024 Proved Reserves, Provides Guidance for 2025 and Declares Dividend for First Quarter of 2025

HOUSTON, March 03, 2025 (GLOBE NEWSWIRE) — W&T Offshore, Inc. (NYSE: WTI) (“W&T,” the “Company” or “us”) today reported operational and financial results for the fourth quarter and full year 2024, including the Company’s year-end 2024 reserve report. Detailed guidance for the first quarter of 2025 and full year 2025 was also provided, and W&T announced its dividend for the first quarter of 2025.

This press release includes non-GAAP financial measures, including Adjusted Net Loss, Adjusted EBITDA, Free Cash Flow, Net Debt and PV-10 which are described and reconciled to the most comparable GAAP measures below in the accompanying tables under “Non-GAAP Information.”

Key highlights for the fourth quarter of 2024, the full year 2024 and since year end 2024 include:

Delivered production in full year 2024 of 33.3 thousand barrels of oil equivalent per day (“MBoe/d”) (43% oil), or 12.2 million barrels of oil equivalent (“MMBoe”). This production was within the Company’s guidance range despite impacts from three hurricanes in the Gulf of America (“GOA”) and other downtime which was mainly related to the Cox acquisition (as defined below);
- Achieved mid-point of the guidance for annual oil production and increased it by 4% year-over-year;
- Produced 32.1 MBoe/d (43% oil) or 3.0 MMBoe in fourth quarter 2024, within W&T’s guidance range;
- Announced the Main Pass 108 and 98 fields as well as the West Delta 73 field are expected to come back online in the second quarter of 2025;
Increased year-end 2024 proved reserves at SEC pricing to 127.0 MMBoe, with oil reserves increasing 39%;
- Reported a standardized measure of discounted future net cash flows of $740.1 million and a present value of estimated future oil and natural gas revenues, minus direct expenses, discounted at a 10% annual rate (“PV-10”) of $1.2 billion, a 14% increase compared to PV-10 for year-end 2023, despite lower SEC pricing;
- Benefited from acquisitions totaling 21.7 MMBoe, along with positive well performance and technical revisions of 5.0 MMBoe, partially offset by 10.5 MMBoe of negative price revisions and 12.2 MMBoe of production for the year, resulting in replacement of 219% of 2024 production with new reserves;
Incurred lease operating expenses (“LOE”) of $281.5 million in full year 2024, at the low end of the Company’s full year guidance range and $64.3 million in fourth quarter 2024, 12% below the low end of the Company’s fourth quarter guidance;
Acquired six shallow water GOA fields in January 2024 (“the Cox acquisition”), all of which are 100% working interest and located adjacent to existing W&T operations, for $77.3 million, which was funded with cash on hand;
Sold a non-core interest in Garden Banks Blocks 385 and 386 in January 2025, which included latest net production of approximately 195 barrels of oil equivalent per day (“Boe/d”) (72% oil) for $11.9 million (the “Garden Banks Disposition”), or over $60,000 per flowing barrel, after customary closing adjustments;
Received $58.5 million in cash for an insurance settlement (the “Insurance Settlement”) related to the Mobile Bay 78-1 well, in first quarter of 2025, which further bolsters W&T’s balance sheet;
Successfully refinanced the Company’s $275.0 million 11.75% Senior Second Lien Notes due 2026 (the “11.75% Notes”) and $114.2 million outstanding amount under the term loan provided by Munich Re Risk Financing, Inc., as lender (the “MRE Term Loan”) with proceeds from the issuance of new $350.0 million of 10.75% Senior Second Lien Notes due 2029 (the “10.75% Notes”) in January 2025 and available cash on hand;
- Paid down and effectively reduced gross debt by around $39.0 million;
- Eliminated principal payments of $27.6 million in 2025, $25.4 million in 2026, $22.9 million in 2027 and $38.3 million in 2028;
- Lowered interest rate on the Senior Second Lien Notes by 100 basis points;
Entered into a new credit agreement in the first quarter 2025 for a $50 million revolving credit facility which matures in July 2028, that is undrawn and replaces the previous credit facility provided by Calculus Lending, LLC;
Reported net loss for full year 2024 of $87.1 million, or $(0.59) per diluted share and net loss of $23.4 million, or $(0.16) per diluted share for fourth quarter 2024;
- Adjusted Net Loss totaled $67.6 million, or $(0.46) per diluted share for full year 2024, and $26.2 million, or $(0.18) per diluted share, for fourth quarter 2024, which primarily excludes the net unrealized gain on outstanding derivative contracts, non-ARO plugging and abandonment (“P&A”) costs, other costs and the related tax effect;
Generated Adjusted EBITDA of $153.6 million in full year 2024 and $31.6 million in the fourth quarter of 2024;
Produced net cash from operating activities of $59.5 million and Free Cash Flow of $44.9 million in full year 2024;
Reported cash and cash equivalents of $109.0 million, lowered total debt to $393.2 million and lowered Net Debt to $284.2 million at December 31, 2024;
Added costless collar hedges for 50,000 million British Thermal Units per day (“MMBtu/d”) of natural gas for the period of March through December 2025;
Paid fifth consecutive quarterly dividend of $0.01 per common share in November 2024; and
- Declared first quarter 2025 dividend of $0.01 per share, which will be payable on March 24, 2025 to stockholders of record on March 17, 2025;

Tracy W. Krohn, W&T’s Chairman of the Board and Chief Executive Officer, commented, “We delivered solid results in 2024 thanks to our continued commitment to executing on our strategic vision focused on free cash flow generation, maintaining solid production and maximizing margins. We generated strong Adjusted EBITDA of $153.6 million and Free Cash Flow of $44.9 million for full year 2024. This was achieved despite limited contribution from the Cox acquisition as we continued to work on enhancing long-term value for these assets at the expense of deferring some near-term production. Some of this benefit is already reflected in our year-end reserves, which saw a 39% increase in oil reserves, and our PV-10 increased by almost $150 million, despite lower SEC pricing compared to year end 2023. We replaced production by over 200% with our positive revisions and acquisitions. Our focus on cost control and capturing synergies associated with our asset acquisitions contributed to our LOE coming in at the bottom end of our reduced guidance range. In addition, we are expecting further production uplift associated with the remaining fields from the Cox acquisition coming online in the second quarter of 2025 that have been shut in so that we could improve the facilities and transportation of production to enhance safety and efficiency of operations in the future.”

“In early 2025, we strengthened our balance sheet by closing the new 10.75% Notes, entered into a new revolving credit facility and added material cash through a non-core disposition and an insurance settlement. The new 10.75% Notes have an interest rate 100 basis points lower than our 11.75% Notes and received improved credit ratings from S&P and Moody’s, had a broad distribution including international investors and were significantly oversubscribed. We also received a $58.5 million cash insurance settlement payment related to a well loss event. Finally, we sold our non-core interests for $11.9 million after customary closing adjustments in Garden Banks 385 and 386 at over $60,000 per flowing barrel which is highly accretive to W&T. This further demonstrates the value of our assets and our ability to divest our properties at attractive multiples.”

Mr. Krohn concluded, “As we progress through 2025 with a stronger balance sheet, we remain poised to take advantage of potential acquisitions that will be accretive to our stakeholders. We remain committed to enhancing shareholder value and returning value to our shareholders through the quarterly dividend in place since November 2023. Our strategy has proven to be sustainable over the past 40 plus years, and we are well-positioned to continue to successfully execute it in the future.”

Production, Prices and Revenue: Production for the fourth quarter of 2024 was 32.1 MBoe/d, within the Company’s fourth quarter guidance and up 4% compared with 31.0 MBoe/d for the third quarter of 2024 and down compared with 34.1 MBoe/d for the corresponding period in 2023. Production in the second half of 2024 was temporarily reduced mainly due to multiple named storms and third-party downtime. Fourth quarter 2024 production was comprised of 13.7 thousand barrels per day (“MBbl/d”) of oil (43%), 3.0 MBbl/d of natural gas liquids (“NGLs”) (9%), and 92.4 million cubic feet per day (“MMcf/d”) of natural gas (48%).

W&T’s average realized price per Boe before realized derivative settlements was $39.86 per Boe in the fourth quarter of 2024, a decrease of 5% from $41.92 per Boe in the third quarter of 2024 and a decrease of 4% from $41.55 per Boe in the fourth quarter of 2023. Fourth quarter 2024 oil, NGL and natural gas prices before realized derivative settlements were $68.71 per barrel of oil, $24.59 per barrel of NGL and $2.85 per Mcf of natural gas.

Revenues for the fourth quarter of 2024 were $120.3 million, which were slightly lower than the third quarter of 2024 revenues of $121.4 million driven by lower realized prices for oil. Fourth quarter 2024 revenues were approximately 9% lower than $132.3 million of revenues in the fourth quarter of 2023 due to lower average realized prices and lower production volumes.

Lease Operating Expenses: LOE, which includes base lease operating expenses, insurance premiums, workovers and facilities maintenance expenses, was $64.3 million in the fourth quarter of 2024, which was 12% below the low end of the previously provided guidance range of $73.0 to $81.0 million. LOE came in lower than expected as the Company continued to realize synergies from asset acquisitions in late 2023 and early 2024. LOE for the fourth quarter of 2024 was approximately 11% lower compared to $72.4 million in the third quarter of 2024 primarily due to favorable audit adjustments, an increase in royalty credits and lower repairs and maintenance costs. LOE for the fourth quarter of 2024 was essentially flat compared to $64.6 million for the corresponding period in 2023. On a component basis for the fourth quarter of 2024, base LOE and insurance premiums were $53.5 million, workovers were $0.9 million, and facilities maintenance and other expenses were $9.9 million. On a unit of production basis, LOE was $21.76 per Boe in the fourth quarter of 2024. This compares to $25.37 per Boe for the third quarter of 2024 and $20.61 per Boe for the fourth quarter of 2023, reflecting a decrease in production in the periods.

Gathering, Transportation Costs and Production Taxes: Gathering, transportation costs and production taxes totaled $5.9 million ($2.00 per Boe) in the fourth quarter of 2024, compared to $6.1 million ($2.15 per Boe) in the third quarter of 2024 and $6.6 million ($2.11 per Boe) in the fourth quarter of 2023. Gathering, transportation costs and production taxes decreased in the fourth quarter of 2024 from the prior quarter due to lower processing and transportation fees offset by increased production taxes.

Depreciation, Depletion and Amortization (“DD&A”): DD&A was $12.94 per Boe in the fourth quarter of 2024. This compares to $11.99 per Boe and $10.73 per Boe for the third quarter of 2024 and the fourth quarter of 2023, respectively.

Asset Retirement Obligations Accretion: Asset retirement obligations accretion was $2.76 per Boe in the fourth quarter of 2024. This compares to $2.75 per Boe and $2.35 per Boe for the third quarter of 2024 and the fourth quarter of 2023, respectively.

General & Administrative Expenses (“G&A”): G&A was $20.8 million for the fourth quarter of 2024, which increased from $19.7 million in the third quarter of 2024 primarily due to higher quarter over quarter accrual for non-cash long-term incentives and increased from $18.3 million in the fourth quarter of 2023 primarily due to higher quarter over quarter accruals for short-term incentives and non-cash long term incentives. On a unit of production basis, G&A was $7.04 per Boe in the fourth quarter of 2024 compared to $6.91 per Boe in the third quarter of 2024 and $5.82 per Boe in the corresponding period of 2023. These differences are primarily related to production variances.

Derivative (Gain) Loss, net: In the fourth quarter of 2024, W&T recorded a net loss of $2.1 million with commodity derivative contracts comprised of $2.6 million of realized losses and $0.5 million of unrealized gains related to the increase in fair value of open contracts. W&T recognized a net gain of $3.2 million in the third quarter of 2024 and a net gain of $13.2 million in the fourth quarter of 2023 related to commodity derivative activities.

To take advantage of the recent uptick in prices for natural gas, W&T recently added Henry Hub costless collars for 50,000 MMBtu/d of natural gas for the period of March through December 2025 with a floor of $3.88 per MMBtu and a ceiling of $5.125 per MMBtu.

A summary of the Company’s outstanding derivative positions is provided in the investor presentation posted on W&T’s website.

Interest Expense: Net interest expense in the fourth quarter of 2024 was $10.2 million compared to $10.0 million in the third quarter of 2024 and $9.7 million in the fourth quarter of 2023.

Other Expense: During 2021 and 2022, as a result of the declaration of bankruptcy by a third party that is the indirect successor in title to certain offshore interests that were previously divested by the Company, W&T recorded a contingent loss accrual related to anticipated non-ARO P&A costs. During the fourth quarter of 2024, the Company reassessed its existing obligations and recorded a $2.8 million decrease in the contingent loss accrual.

Income Tax (Benefit) Expense: W&T recognized an income tax benefit of $1.8 million in the fourth quarter of 2024. This compares to the recognition of an income tax benefit of $4.5 million and an income tax expense of $1.9 million for the quarters ended September 30, 2024 and December 31, 2023, respectively.

Capital Expenditures and Asset Retirement Settlements: Capital expenditures on an accrual basis (excluding acquisitions) in the fourth quarter of 2024 were $12.2 million, and asset retirement settlement costs totaled $19.3 million. For the year ended December 31, 2024, capital expenditures on an accrual basis (excluding acquisitions) totaled $28.6 million and asset retirements costs were $39.7 million. Investments related to acquisitions in the year ended December 31, 2024 totaled $80.6 million, which included $77.3 million for the Cox acquisition and $3.3 million of final purchase price adjustments related to W&T’s acquisition of properties in September 2023.

Balance Sheet and Liquidity: As of December 31, 2024, W&T had available liquidity of $159.0 million comprised of $109.0 million in unrestricted cash and cash equivalents and $50.0 million of borrowing availability under W&T’s first priority secured revolving facility provided by Calculus Lending LLC. As of December 31, 2024, the Company had total debt of $393.2 million and Net Debt of $284.2 million. As of December 31, 2024, Net Debt to trailing twelve months (“TTM”) Adjusted EBITDA was 1.8x.

Debt Refinance: On January 28, 2025 W&T closed an offering of the 10.75% Notes at par in a private offering that was exempt from registration under the Securities Act of 1933, as amended. The Company used a portion of the proceeds from the 10.75% Notes offering, along with cash on hand to, (i) purchase for cash pursuant to a tender offer, such of the Company’s outstanding 11.75% Notes that were validly tendered pursuant to the terms thereof, (ii) repay $114.2 million outstanding under the Term Loan, (iii) fund the full redemption amount for an August 1, 2025 redemption of the remaining 11.75% Notes not validly tendered and accepted for purchase in the tender offer, and (iv) pay premiums, fees and expenses related to these transactions. On the closing date of the offering of the 10.75% Notes, the Company completed all actions necessary to satisfy and discharge the indenture governing the 11.75% Notes.

Pro forma for the debt refinance, the Garden Banks Disposition and the Insurance Settlement, as of December 31, 2024, W&T’s cash and cash equivalents would have been approximately $104.3 million, total debt would have been approximately $349.5 million and Net Debt would have been approximately $245.2 million. As of December 31, 2024, the pro forma Net Debt to TTM Adjusted EBITDA would have been 1.6x.

In conjunction with the issuance of the 10.75% Notes, the Company entered into a new credit agreement which provides the Company with a revolving credit and letter of credit facility, with initial lending commitments of $50 million with a letter of credit sublimit of $10 million. The Credit Facility matures on July 28, 2028.

Accretive Acquisition of Producing Properties in the GOA: In January 2024, W&T was the successful bidder for six fields in the GOA, including Eugene Island 64, Main Pass 61, Mobile 904, Mobile 916, South Pass 49 and West Delta 73, all of which include a 100% working interest and an average 82% net revenue interest. They are located in water depths ranging between approximately 15 and 400 feet. Their proximity to W&T’s areas of existing operations provides the ability for W&T to capture synergies regarding personnel, well optimization, gathering and transport. The final purchase price for the assets was $77.3 million, after closing costs and other transaction costs, which were funded from the Company’s cash on hand. Key highlights of the transaction included:

Added significant year-end 2024 reserves of 21.7 MMBoe (62% liquids), even after excluding 1.3 MMBoe of production during 2024;
Based on the cash consideration paid of $77.3 million, this equates to a price of $3.38 per Boe of 2024 SEC reserves booked, when adding back 2024 production of 1.3 MMBoe;
Multiple fields were immediately shut-in while improvements were made to bring them up to W&T’s standards for safety and efficiency. Those fields are expected to come back online in the first half of 2025;
- The Main Pass 108 and 98 fields as well as the West Delta 73 field are expected to return to production in the second quarter of 2025; and
The Company believes that it can further increase production on these properties through workovers, recompletions and ongoing facility upgrades.

Non-Core Asset Disposition

In early 2025, W&T sold a non-core interest in Garden Banks Blocks 385 and 386, which included net production of approximately 195 Boe/d, for $11.9 million after normal purchase price adjustments. The effective date of the sale was December 1, 2024, and the transaction closed in January 2025. The impact to W&T’s reserves for year-end 2024 were minimal at about 0.12 MMBoe.

Full Year-End 2024 Financial Review

W&T reported a net loss for the full year 2024 of $87.1 million, or $(0.59) per diluted share, and Adjusted Net Loss of $67.6 million, or $(0.46) per diluted share. For the full year 2023, the Company reported net income of $15.6 million, or $0.11 per diluted share, and Adjusted Net Loss of $21.7 million, or $(0.15) per diluted share. W&T generated Adjusted EBITDA of $153.6 million for the full year 2024 compared to $183.2 million in 2023. The year-over-year decrease was primarily driven by lower oil and natural gas prices and decreased production. Revenues totaled $525.3 million for 2024 compared with $532.7 million in 2023. Net cash provided by operating activities for the year ended December 31, 2024 was $59.5 million compared with $115.3 million for the same period in 2023. Free Cash Flow totaled $44.9 million in 2024 compared with $63.3 million in 2023.

Production for 2024 averaged 33.3 MBoe/d for a total of 12.2 MMBoe, comprised of 5.3 MMBbl of oil, 1.2 MMBbl of NGLs and 34.3 Bcf of natural gas. Full year 2023 production averaged 34.9 MBoe/d or 12.7 MMBoe in total and was comprised of 5.1 MMBbl of oil, 1.4 MMBbl of NGLs and 37.6 Bcf of natural gas.

For the full year 2024, W&T’s average realized sales price per barrel of crude oil was $75.28 and $23.08 per barrel of NGLs and $2.65 per Mcf of natural gas. While the realized pricing for oil and natural gas were down year-over-year, the production mix was more weighted toward oil in 2024, thus the equivalent sales price for 2024 was $42.23 per Boe, which was 3% higher than the equivalent price of $41.16 per Boe realized in 2023. For 2023, the Company’s realized crude oil sales price was $75.52 per barrel, NGL sales price was $22.93 per barrel, and natural gas price was $2.93 per Mcf.

For the full year 2024, LOE was $281.5 million compared to $257.7 million in 2023. While LOE increased year-over-year in 2024 due to increased workover and facility investments, higher oil production and costs from the acquisition of additional properties in January 2024 and September 2023, W&T’s LOE for 2024 was 10% below the midpoint guidance for LOE as the Company was able to mitigate some of these increased costs through synergies from the asset acquisitions.

Gathering, transportation, and production taxes totaled $28.2 million in 2024, an increase from the $26.3 million in 2023.

For the full year 2024, G&A was $82.4 million, which was a 9% increase over the $75.5 million reported in 2023. The increase year-over-year is primarily due to increased salary and benefits costs and non-recurring legal fees that were somewhat offset by lower accruals for short-term incentives. On a per unit basis, G&A per Boe was $6.76 in 2024, up from $5.93 per Boe in 2023. G&A increased on a per Boe basis primarily due to lower production.

OPERATIONS UPDATE

Well Recompletions and Workovers

During the fourth quarter of 2024, the Company performed two workovers and two recompletions that positively impacted production for the quarter. W&T plans to continue performing these low cost and low risk short payout operations that impact both production and revenue.

Year-End 2024 Proved Reserves

The Company’s year-end 2024 SEC proved reserves were 127.0 MMBoe, compared with 123.0 MMBoe at year-end 2023. In 2024, W&T recorded positive performance revisions of 5.0 MMBoe, and acquisitions of reserves of 21.7 MMBoe, which were offset by 10.5 MMBoe of negative price revisions and 12.2 MMBoe of production for the year. During 2024, W&T continued to focus on reducing Net Debt while identifying and executing attractive acquisitions. Successful workovers, operational excellence and acquisitions allowed W&T to replace 219% of production with new reserves.

The SEC twelve-month first day of the month average spot prices used in the preparation of the report for year-end 2024 were $76.32 per barrel of oil and $2.13 per MMBtu of natural gas. Comparable prices used for the prior year report were $78.21 per barrel of oil and $2.64 per MMBtu of natural gas. The PV-10 of W&T’s proved reserves at year-end 2024 increased 14% to $1.2 billion from $1.1 billion at year-end 2023, driven primarily by an increase in oil reserves due to the acquisition in January 2024 and by positive reserve performance revisions which were somewhat offset by lower SEC pricing.

Approximately 51% of year-end 2024 proved reserves were liquids (41% crude oil and 10% NGLs) and 49% natural gas. The reserves were classified as 52% proved developed producing, 31% proved developed non-producing, and 17% proved undeveloped. W&T’s reserve life ratio at year-end 2024, based on year-end 2024 proved reserves and 2024 production, was 10.4 years.


	Oil		NGLs		Natural Gas				PV-10¹
	(MMBbls)		(MMBbls)		(Bcf)		MMBoe		($MM)
Proved reserves as of December 31, 2023	37.0		13.7		434.0		123.0		$	1,080.9
Revisions of previous estimates	7.4		1.8		(26.1	)	5.0
Revisions due to change in SEC prices	(0.4	)	(1.6	)	(51.0	)	(10.5	)
Purchase of minerals in place	12.9		0.3		51.8		21.7
Production	(5.3	)	(1.2	)	(34.3	)	(12.2	)
Proved reserves as of December 31, 2024	51.6		13.0		374.4		127.0		$	1,229.5

⁽¹⁾PV-10 for this presentation excludes any provisions for asset retirement obligations or income taxes.

In accordance with guidelines established by the SEC, estimated proved reserves as of December 31, 2024 were determined to be economically producible under existing economic conditions, which requires the use of the 12-month average of the first-day-of-the-month price for the year ended December 31, 2024. The WTI spot price and the Henry Hub spot price were utilized as the reference prices and after adjusting for quality, transportation, fees, energy content, and regional price differentials, the average realized prices were $74.69 per barrel for oil, $22.98 per barrel for NGLs, and $2.58 per Mcf for natural gas. In determining the estimated realized price for NGLs, a ratio was computed for each field of the NGLs realized price compared to the crude oil realized price. This ratio was then applied to the crude price using SEC guidance. Such prices were held constant throughout the estimated lives of the reserves. Future estimated production and development costs are based on year-end costs with no escalations.

The standardized measure of future net cash flows was $740.1 million at December 31, 2024, which is calculated as the PV-10 of $1,229.5 million less discounted cash outflows of $334.6 million associated with asset retirement obligations and $154.8 million associated with income taxes. At December 31, 2023, the standardized measure was $683.2 million, which is calculated as the PV-10 of $1,080.9 million less discounted cash outflows of $246.7 million associated with asset retirement obligations and $151.0 million associated with income taxes.

First Quarter and Full Year 2025 Production and Expense Guidance

The guidance for the first quarter and full year 2025 in the table below represents the Company’s current expectations. Please refer to the section entitled “Forward-Looking and Cautionary Statements” below for risk factors that could impact guidance.

In the first quarter of 2025, there have been several planned facility and pipeline maintenance projects as well as unplanned downtime at several fields due to multiple winter freezes in the first quarter of 2025 that temporarily reduced production. Full year 2025 production reflects the West Delta 73 field returning to production in the second quarter as well as the other fields that were temporarily shut-in during the first quarter of 2025. First quarter 2025 LOE is expected to be higher than the prior quarter due to increased maintenance and repair costs and facility upgrades; full year 2025 LOE is expected to be modestly higher than 2024.


Production	First Quarter 2025	Full Year 2025
Oil (MBbl)	1,130 – 1,250	5,150 – 5,690
NGLs (MBbl)	205 – 235	1,020 – 1,140
Natural gas (MMcf)	7,220 – 7,980	34,880 – 38,560
Total equivalents (MBoe)	2,538 – 2,815	11,983 – 13,257
Average daily equivalents (MBoe/d)	27.6 – 30.6	32.8 – 36.3
Expenses	First Quarter 2025	Full Year 2025
Lease operating expense ($MM)	72.5 – 80.5	280.0 – 310.0
Gathering, transportation & production taxes ($MM)	6.1 – 6.9	27.1 – 30.1
General & administrative – cash ($MM)	17.8 – 19.8	62.0 – 69.0
General & administrative – non-cash ($MM)	2.1 – 2.5	10.1 – 11.3
DD&A ($ per Boe)		13.40 – 14.90

W&T expects substantially all income taxes in 2025 to be deferred.

2025 Capital Investment Program

W&T’s capital expenditure budget for 2025 is expected to be in the range of $34.0 million to $42.0 million, which excludes potential acquisition opportunities. Included in this range are planned expenditures related to asset integrations as well as ongoing costs related to the acquisitions for facilities, leasehold, seismic, and recompletions.

Plugging and abandonment expenditures are expected to be in the range of $27.0 million to $37.0 million. The Company spent approximately $40 million on these costs in 2024.

Conference Call Information: W&T will hold a conference call to discuss its financial and operational results on Tuesday, March 4, 2025 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time). Interested parties may dial 1-844-739-3797. International parties may dial 1-412-317-5713. Participants should request to connect to the “W&T Offshore Conference Call.” This call will also be webcast and available on W&T’s website at www.wtoffshore.com under “Investors.” An audio replay will be available on the Company’s website following the call.

About W&T Offshore

W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of America and has grown through acquisitions, exploration and development. As of December 31, 2024, the Company had working interests in 52 fields in federal and state waters (which include 45 fields in federal waters and seven in state waters). The Company has under lease approximately 646,200 gross acres (502,300 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 493,000 gross acres on the conventional shelf, approximately 147,700 gross acres in the deepwater and 5,500 gross acres in Alabama state waters. A majority of the Company’s daily production is derived from wells it operates. For more information on W&T, please visit the Company’s website at www.wtoffshore.com.

Forward-Looking and Cautionary Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this release, including those regarding the Company’s financial position, operating and financial performance, business strategy, plans and objectives of management for future operations, projected costs, industry conditions, potential acquisitions, sustainability initiatives, the impact of and integration of acquired assets, and indebtedness are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes, although not all forward-looking statements contain such identifying words. Items contemplating or making assumptions about actual or potential future production and sales, prices, market size, and trends or operating results also constitute such forward-looking statements.

These forward-looking statements are based on the Company’s current expectations and assumptions about future events and speak only as of the date of this release. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, as results actually achieved may differ materially from expected results described in these statements. The Company does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements, unless required by law.

Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially including, among other things, the regulatory environment, including availability or timing of, and conditions imposed on, obtaining and/or maintaining permits and approvals, including those necessary for drilling and/or development projects; the impact of current, pending and/or future laws and regulations, and of legislative and regulatory changes and other government activities, including those related to permitting, drilling, completion, well stimulation, operation, maintenance or abandonment of wells or facilities, managing energy, water, land, greenhouse gases or other emissions, protection of health, safety and the environment, or transportation, marketing and sale of the Company’s products; inflation levels; global economic trends, geopolitical risks and general economic and industry conditions, such as the global supply chain disruptions and the government interventions into the financial markets and economy in response to inflation levels and world health events; volatility of oil, NGL and natural gas prices; the global energy future, including the factors and trends that are expected to shape it, such as concerns about climate change and other air quality issues, the transition to a low-emission economy and the expected role of different energy sources; supply of and demand for oil, natural gas and NGLs, including due to the actions of foreign producers, importantly including OPEC and other major oil producing companies (“OPEC+”) and change in OPEC+’s production levels; disruptions to, capacity constraints in, or other limitations on the pipeline systems that deliver the Company’s oil and natural gas and other processing and transportation considerations; inability to generate sufficient cash flow from operations or to obtain adequate financing to fund capital expenditures, meet the Company’s working capital requirements or fund planned investments; price fluctuations and availability of natural gas and electricity; the Company’s ability to use derivative instruments to manage commodity price risk; the Company’s ability to meet the Company’s planned drilling schedule, including due to the Company’s ability to obtain permits on a timely basis or at all, and to successfully drill wells that produce oil and natural gas in commercially viable quantities; uncertainties associated with estimating proved reserves and related future cash flows; the Company’s ability to replace the Company’s reserves through exploration and development activities; drilling and production results, lower–than–expected production, reserves or resources from development projects or higher–than–expected decline rates; the Company’s ability to obtain timely and available drilling and completion equipment and crew availability and access to necessary resources for drilling, completing and operating wells; changes in tax laws; effects of competition; uncertainties and liabilities associated with acquired and divested assets; the Company’s ability to make acquisitions and successfully integrate any acquired businesses; asset impairments from commodity price declines; large or multiple customer defaults on contractual obligations, including defaults resulting from actual or potential insolvencies; geographical concentration of the Company’s operations; the creditworthiness and performance of the Company’s counterparties with respect to its hedges; impact of derivatives legislation affecting the Company’s ability to hedge; failure of risk management and ineffectiveness of internal controls; catastrophic events, including tropical storms, hurricanes, earthquakes, pandemics and other world health events; environmental risks and liabilities under U.S. federal, state, tribal and local laws and regulations (including remedial actions); potential liability resulting from pending or future litigation; the Company’s ability to recruit and/or retain key members of the Company’s senior management and key technical employees; information technology failures or cyberattacks; and governmental actions and political conditions, as well as the actions by other third parties that are beyond the Company’s control, and other factors discussed in W&T Offshore’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q found at www.sec.gov or at the Company’s website at www.wtoffshore.com under the Investor Relations section.


W&T OFFSHORE, INC.
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)

	Three Months Ended
	December 31,			September 30,			December 31,			Year Ended December 31,
	2024			2024			2023			2024			2023
Revenues:
Oil	$	86,778		$	90,862		$	94,076		$	395,620		$	381,389
NGLs		6,713			5,636			6,851			27,978			32,446
Natural gas		24,203			23,148			29,401			90,877			110,158
Other		2,651			1,726			2,012			10,786			8,663
Total revenues		120,345			121,372			132,340			525,261			532,656

Operating expenses:
Lease operating expenses		64,259			72,412			64,643			281,488			257,676
Gathering, transportation and production taxes		5,912			6,147			6,620			28,177			26,250
Depreciation, depletion, and amortization		38,208			34,206			33,658			143,025			114,677
Asset retirement obligations accretion		8,157			7,848			7,377			32,374			29,018
General and administrative expenses		20,799			19,723			18,251			82,391			75,541
Total operating expenses		137,335			140,336			130,549			567,455			503,162

Operating (loss) income		(16,990	)		(18,964	)		1,791			(42,194	)		29,494

Interest expense, net		10,226			9,992			9,729			40,454			44,689
Derivative (gain) loss, net		2,113			(3,199	)		(13,199	)		(3,589	)		(54,759	)
Other (income) expense, net		(4,118	)		15,709			3,772			18,071			5,621
(Loss) income before income taxes		(25,211	)		(41,466	)		1,489			(97,130	)		33,943
Income tax (benefit) expense		(1,849	)		(4,545	)		1,932			(9,985	)		18,345
Net (loss) income	$	(23,362	)	$	(36,921	)	$	(443	)	$	(87,145	)	$	15,598

Net (loss) income per share:
Basic	$	(0.16	)	$	(0.25	)	$	—		$	(0.59	)	$	0.11
Diluted		(0.16	)		(0.25	)		—			(0.59	)		0.11

Weighted average common shares outstanding
Basic		147,365			147,206			146,578			147,133			146,483
Diluted		147,365			147,206			146,578			147,133			148,302


W&T OFFSHORE, INC.
Condensed Operating Data
(Unaudited)

	Three Months Ended
	December 31,		September 30,		December 31,		Year Ended December 31,
	2024		2024		2023		2024		2023
Net sales volumes:
Oil (MBbls)		1,263		1,210		1,219		5,255		5,050
NGLs (MBbls)		273		262		329		1,212		1,415
Natural gas (MMcf)		8,505		8,289		9,533		34,296		37,591
Total oil and natural gas (MBoe) ⁽¹⁾		2,953		2,854		3,136		12,183		12,730

Average daily equivalent sales (MBoe/d)		32.1		31.0		34.1		33.3		34.9

Average realized sales prices (before the impact of derivative settlements):
Oil ($/Bbl)	$	68.71	$	75.09	$	77.17	$	75.28	$	75.52
NGLs ($/Bbl)		24.59		21.51		20.82		23.08		22.93
Natural gas ($/Mcf)		2.85		2.79		3.08		2.65		2.93
Barrel of oil equivalent ($/Boe)		39.86		41.92		41.55		42.23		41.16

Average operating expenses per Boe ($/Boe):
Lease operating expenses	$	21.76	$	25.37	$	20.61	$	23.10	$	20.24
Gathering, transportation and production taxes		2.00		2.15		2.11		2.31		2.06
Depreciation, depletion, and amortization		12.94		11.99		10.73		11.74		9.01
Asset retirement obligations accretion		2.76		2.75		2.35		2.66		2.28
General and administrative expenses		7.04		6.91		5.82		6.76		5.93

(1) MBoe is determined using the ratio of six Mcf of natural gas to one Bbl of crude oil, condensate or NGLs (totals may not compute due to rounding). The conversion ratio does not assume price equivalency and the price on an equivalent basis for oil, NGLs and natural gas may differ significantly. The realized prices presented above are volume-weighted for production in the respective period.


W&T OFFSHORE, INC.
Consolidated Balance Sheets
(In thousands)
(Unaudited)

	December 31,			December 31,
	2024			2023
Assets
Current assets:
Cash and cash equivalents	$	109,003		$	173,338
Restricted cash		1,552			4,417
Receivables:
Oil and natural gas sales		63,558			52,080
Joint interest, net		25,841			15,480
Other		—			2,218
Prepaid expenses and other assets		18,504			17,447
Total current assets		218,458			264,980

Oil and natural gas properties, net		777,741			749,056
Restricted deposits for asset retirement obligations		22,730			22,272
Deferred income taxes		48,808			38,774
Other assets		31,193			38,923
Total assets	$	1,098,930		$	1,114,005

Liabilities and Shareholders’ (Deficit) Equity
Current liabilities:
Accounts payable	$	83,625		$	78,857
Accrued liabilities		33,271			31,978
Undistributed oil and natural gas proceeds		53,131			42,134
Advances from joint interest partners		2,443			2,962
Current portion of asset retirement obligations		46,326			31,553
Current portion of long-term debt, net		27,288			29,368
Total current liabilities		246,084			216,852

Asset retirement obligations		502,506			467,262
Long-term debt, net		365,935			361,236
Other liabilities		16,182			19,420

Commitments and contingencies		20,800			18,043

Shareholders’ (deficit) equity:
Preferred stock		—			—
Common stock		2			1
Additional paid-in capital		595,407			586,014
Retained deficit		(623,819	)		(530,656	)
Treasury stock		(24,167	)		(24,167	)
Total shareholders’ (deficit) equity		(52,577	)		31,192
Total liabilities and shareholders’ (deficit) equity	$	1,098,930		$	1,114,005


W&T OFFSHORE, INC.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)

	Three Months Ended
	December 31,			September 30,			December 31,			Year Ended December 31,
	2024			2024			2023			2024			2023
Operating activities:
Net (loss) income	$	(23,362	)	$	(36,921	)	$	(443	)	$	(87,145	)	$	15,598
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, depletion, amortization and accretion		46,365			42,054			41,035			175,399			143,695
Share-based compensation		3,818			1,956			3,124			10,192			10,383
Amortization and write off of debt issuance costs		1,117			1,109			1,266			4,562			6,980
Derivative loss (gain), net		2,113			(3,199	)		(13,199	)		(3,589	)		(54,759	)
Derivative cash (settlements) receipts, net		(1,638	)		1,208			(2,809	)		4,527			(8,932	)
Deferred income (benefit) taxes		(1,941	)		(4,545	)		3,838			(10,077	)		18,485
Changes in operating assets and liabilities:								—
Accounts receivable		(17,064	)		21,913			(2,989	)		(19,621	)		12,586
Prepaid expenses and other current assets		1,792			2,502			(28,262	)		(1,450	)		(2,712	)
Accounts payable, accrued liabilities and other		3,831			(2,962	)		43,155			26,433			7,972
Asset retirement obligation settlements		(19,348	)		(8,347	)		(9,052	)		(39,692	)		(33,970	)
Net cash (used in) provided by operating activities		(4,317	)		14,768			35,664			59,539			115,326

Investing activities:
Investment in oil and natural gas properties and equipment		(14,124	)		(9,577	)		(12,139	)		(37,357	)		(41,813	)
Acquisition of property interests		—			—			1,479			(80,635	)		(27,384	)
Deposit related to acquisition of property interests		—			—			8,850			—			—
Purchase of corporate aircraft		—			—			—			—			(8,983	)
Purchases of furniture, fixtures and other		(19	)		(69	)		(347	)		(185	)		(3,428	)
Net cash used in investing activities		(14,143	)		(9,646	)		(2,157	)		(118,177	)		(81,608	)

Financing activities:
Proceeds from issuance of long-term debt		—			—			—			—			275,000
Repayments of long-term debt		(275	)		(275	)		(7,687	)		(1,100	)		(586,934	)
Debt issuance costs		(183	)		(174	)		—			(762	)		(7,380	)
Payment of dividends		(1,475	)		(1,473	)		(1,466	)		(5,902	)		(1,466	)
Other		(13	)		(31	)		(9	)		(798	)		(957	)
Net cash used in financing activities		(1,946	)		(1,953	)		(9,162	)		(8,562	)		(321,737	)
Change in cash, cash equivalents and restricted cash		(20,406	)		3,169			24,345			(67,200	)		(288,019	)
Cash, cash equivalents and restricted cash, beginning of period		130,961			127,792			153,410			177,755			465,774
Cash, cash equivalents and restricted cash, end of period	$	110,555		$	130,961		$	177,755		$	110,555		$	177,755

W&T OFFSHORE, INC. AND SUBSIDIARIES
Non-GAAP Information

Certain financial information included in W&T’s financial results are not measures of financial performance recognized by accounting principles generally accepted in the United States, or GAAP. These non-GAAP financial measures are “Net Debt,” “Adjusted Net Loss,” “Adjusted EBITDA,” “Free Cash Flow” and “PV-10” or are derivable from a combination of these measures. Management uses these non-GAAP financial measures in its analysis of performance. These disclosures may not be viewed as a substitute for results determined in accordance with GAAP and are not necessarily comparable to non-GAAP performance measures which may be reported by other companies. Prior period amounts have been conformed to the methodology and presentation of the current period.

We calculate Net Debt as total debt (current and long-term portions), less cash and cash equivalents. Management uses Net Debt to evaluate the Company’s financial position, including its ability to service its debt obligations.

Reconciliation of Net (Loss) Income to Adjusted Net Loss

Adjusted Net Loss adjusts for certain items that the Company believes affect comparability of operating results, including items that are generally non-recurring in nature or whose timing and/or amount cannot be reasonably estimated. These items include unrealized commodity derivative gain, net, allowance for credit losses, write-off of debt issuance costs, non-recurring legal and IT-related costs, non-ARO P&A costs, and other which are then tax effected using the Federal Statutory Rate. Company management believes that this presentation is relevant and useful because it helps investors to understand the net (loss) income of the Company without the effects of certain non-recurring or unusual expenses and certain income or loss that is not realized by the Company.


	Three Months Ended
	December 31,			September 30,			December 31,			Year Ended December 31,
	2024			2024			2023			2024			2023
		(in thousands)
		(Unaudited)
Net (loss) income	$	(23,362	)	$	(36,921	)	$	(443	)	$	(87,145	)	$	15,598
Unrealized commodity derivative gain, net		(497	)		(1,829	)		(14,785	)		(710	)		(58,846	)
Allowance for credit losses		118			10			28			558			37
Write-off debt issuance costs		—			—			—			—			2,330
Non-recurring legal and IT-related costs		860			(22	)		413			5,798			3,044
Non-ARO P&A costs		(2,763	)		16,627			4,137			20,925			6,246
Other		(1,302	)		(633	)		(240	)		(1,845	)		31
Tax effect of selected items ⁽¹⁾		753			(2,972	)		2,194			(5,192	)		9,903
Adjusted net loss	$	(26,193	)	$	(25,740	)	$	(8,696	)	$	(67,611	)	$	(21,657	)

Adjusted net loss per common share:
Basic	$	(0.18	)	$	(0.17	)	$	(0.06	)	$	(0.46	)	$	(0.15	)
Diluted	$	(0.18	)	$	(0.17	)	$	(0.06	)	$	(0.46	)	$	(0.15	)

Weighted average shares outstanding:
Basic		147,365			147,206			146,578			147,133			146,483
Diluted		147,365			147,206			146,578			147,133			146,483

⁽¹⁾ Selected items were tax effected with the Federal Statutory Rate of 21% for each respective period.

W&T OFFSHORE, INC. AND SUBSIDIARIES
Non-GAAP Information

Adjusted EBITDA/ Free Cash Flow Reconciliations

The Company also presents non-GAAP financial measures of Adjusted EBITDA and Free Cash Flow. The Company defines Adjusted EBITDA as net (loss) income plus net interest expense, income tax (benefit) expense, depreciation, depletion and amortization, ARO accretion, excluding the unrealized commodity derivative gain, allowance for credit losses, non-cash incentive compensation, non-recurring legal and IT-related costs, non-ARO P&A costs, and other. Company management believes this presentation is relevant and useful because it helps investors understand W&T’s operating performance and makes it easier to compare its results with those of other companies that have different financing, capital and tax structures. Adjusted EBITDA should not be considered in isolation from or as a substitute for net income, as an indication of operating performance or cash flows from operating activities or as a measure of liquidity. Adjusted EBITDA, as W&T calculates it, may not be comparable to Adjusted EBITDA measures reported by other companies. In addition, Adjusted EBITDA does not represent funds available for discretionary use.

The Company defines Free Cash Flow as Adjusted EBITDA (defined above), less capital expenditures, P&A costs and net interest expense (all on an accrual basis). For this purpose, the Company’s definition of capital expenditures includes costs incurred related to oil and natural gas properties (such as drilling and infrastructure costs and the lease maintenance costs) and equipment but excludes acquisition costs of oil and gas properties from third parties that are not included in the Company’s capital expenditures guidance provided to investors. Company management believes that Free Cash Flow is an important financial performance measure for use in evaluating the performance and efficiency of its current operating activities after the impact of accrued capital expenditures, P&A costs and net interest expense and without being impacted by items such as changes associated with working capital, which can vary substantially from one period to another. There is no commonly accepted definition of Free Cash Flow within the industry. Accordingly, Free Cash Flow, as defined and calculated by the Company, may not be comparable to Free Cash Flow or other similarly named non-GAAP measures reported by other companies. While the Company includes net interest expense in the calculation of Free Cash Flow, other mandatory debt service requirements of future payments of principal at maturity (if such debt is not refinanced) are excluded from the calculation of Free Cash Flow. These and other non-discretionary expenditures that are not deducted from Free Cash Flow would reduce cash available for other uses.

The following table presents a reconciliation of the Company’s net (loss) income, a GAAP measure, to Adjusted EBITDA and Free Cash Flow, as such terms are defined by the Company:


	Three Months Ended
	December 31,				September 30,		December 31,			Year Ended December 31,
	2024				2024		2023			2024			2023
	(in thousands)
	(Unaudited)
Net (loss) income	$	(23,362	)	$	(36,921	)	$	(443	)	$	(87,145	)	$	15,598
Interest expense, net		10,226			9,992			9,729			40,454			44,689
Income tax (benefit) expense		(1,849	)		(4,545	)		1,932			(9,985	)		18,345
Depreciation, depletion and amortization		38,208			34,206			33,658			143,025			114,677
Asset retirement obligations accretion		8,157			7,848			7,377			32,374			29,018
Unrealized commodity derivative gain, net		(497	)		(1,829	)		(14,785	)		(710	)		(58,846	)
Allowance for credit losses		118			10			28			558			37
Non-cash incentive compensation		3,818			1,956			3,124			10,192			10,383
Non-recurring legal and IT-related costs		860			(22	)		413			5,798			3,044
Non-ARO P&A costs		(2,763	)		16,627			4,137			20,925			6,246
Other		(1,302	)		(633	)		(240	)		(1,845	)		31
Adjusted EBITDA	$	31,614		$	26,689		$	44,930		$	153,641		$	183,222

Capital expenditures, accrual basis ⁽¹⁾	$	(12,228	)	$	(4,461	)	$	(10,319	)	$	(28,626	)	$	(41,278	)
Asset retirement obligation settlements		(19,348	)		(8,347	)		(9,052	)		(39,692	)		(33,970	)
Interest expense, net		(10,226	)		(9,992	)		(9,729	)		(40,454	)		(44,689	)
Free Cash Flow	$	(10,188	)	$	3,889		$	15,830		$	44,869		$	63,285

⁽¹⁾ A reconciliation of the adjustment used to calculate Free Cash Flow to the Condensed Consolidated Financial Statements is included below:


Capital expenditures, accrual basis reconciliation
Investment in oil and natural gas properties and equipment	$	(14,124	)	$	(9,577	)	$	(12,139	)	$	(37,357	)	$	(41,813	)
Less: acquisition related expenditures included in investment in oil and natural gas properties and equipment		—			(4,929	)		—			(4,929	)		—
Less: changes in operating assets and liabilities associated with investing activities		(1,896	)		(187	)		(1,820	)		(3,802	)		(535	)
Capital expenditures, accrual basis	$	(12,228	)	$	(4,461	)	$	(10,319	)	$	(28,626	)	$	(41,278	)

The following table presents a reconciliation of cash flow from operating activities, a GAAP measure, to Free Cash Flow, as defined by the Company:


	Three Months Ended
	December 31,			September 30,			December 31,			Year Ended December 31,
	2024			2024			2023			2024			2023
	(in thousands)
	(Unaudited)
Net cash (used in) provided by operating activities	$	(4,317	)	$	14,768		$	35,664		$	59,539		$	115,326
Allowance for credit losses		118			10			28			558			37
Amortization of debt items and other items		(1,117	)		(1,109	)		(1,266	)		(4,562	)		(6,980	)
Non-recurring legal and IT-related costs		860			(22	)		413			5,798			3,044
Current tax (benefit) expense ⁽¹⁾		92			—			(1,906	)		92			(140	)
Change in derivatives (payable) receivable ⁽¹⁾		(972	)		162			1,223			(1,648	)		4,845
Non-ARO P&A costs		(2,763	)		16,627			4,137			20,925			6,246
Changes in operating assets and liabilities, excluding asset retirement obligation settlements		11,441			(21,453	)		(11,904	)		(5,362	)		(17,846	)
Capital expenditures, accrual basis		(12,228	)		(4,461	)		(10,319	)		(28,626	)		(41,278	)
Other		(1,302	)		(633	)		(240	)		(1,845	)		31
Free Cash Flow	$	(10,188	)	$	3,889		$	15,830		$	44,869		$	63,285

⁽¹⁾ A reconciliation of the adjustments used to calculate Free Cash Flow to the Condensed Consolidated Financial Statements is included below:


Current tax (benefit) expense:
Income tax (benefit) expense	$	(1,849	)	$	(4,545	)	$	1,932		$	(9,985	)	$	18,345
Less: Deferred income (benefit) taxes		(1,941	)		(4,545	)		3,838			(10,077	)		18,485
Current tax (benefit) expense	$	92		$	—		$	(1,906	)	$	92		$	(140	)

Changes in derivatives receivable (payable)
Derivatives (payable) receivable, end of period	$	(1,377	)	$	(405	)	$	271		$	(1,377	)	$	271
Derivatives payable (receivable), beginning of period		405			567			952			(271	)		4,574
Change in derivatives (payable) receivable	$	(972	)	$	162		$	1,223		$	(1,648	)	$	4,845

W&T OFFSHORE, INC. AND SUBSIDIARIES
Non-GAAP Information

Reconciliation of PV-10 to Standardized Measure

The Company also discloses PV-10, which is not a financial measure defined under GAAP. The standardized measure of discounted future net cash flows is the most directly comparable GAAP financial measure for proved reserves calculated using SEC pricing. Company management believes that the non-GAAP financial measure of PV-10 is relevant and useful for evaluating the relative monetary significance of oil and natural gas properties. PV-10 is also used internally when assessing the potential return on investment related to oil and natural gas properties and in evaluating acquisition opportunities. Company management believes that the use of PV-10 is valuable because there are many unique factors that can impact an individual company when estimating the amount of future income taxes to be paid. Additionally, Company management believes that the presentation of PV-10 provides useful information to investors because it is widely used by professional analysts and sophisticated investors in evaluating oil and natural gas companies. PV-10 is not a measure of financial or operating performance under GAAP, nor is it intended to represent the current market value of the Company’s estimated oil and natural gas reserves. PV-10 should not be considered in isolation or as substitutes for the standardized measure of discounted future net cash flows as defined under GAAP. Investors should not assume that PV-10 of the Company’s proved oil and natural gas reserves represents a current market value of the Company’s estimated oil and natural gas reserves.

The following table presents a reconciliation of the standardized measure of discounted future net cash flows relating to the Company’s estimated proved oil and natural gas reserves, a GAAP measure, to PV-10, as defined by the Company.


	December 31,
	2024			2023
PV-10	$	1,229.5		$	1,080.9
Future income taxes, discounted at 10%		(154.8	)		(151.0	)
PV-10 before ARO		1,074.7			929.9
Present value of estimated ARO, discounted at 10%		(334.6	)		(246.7	)
Standardized measure	$	740.1		$	683.2


CONTACT:	Al Petrie	Sameer Parasnis
	Investor Relations Coordinator	Executive VP and CFO
	investorrelations@wtoffshore.com	sparasnis@wtoffshore.com
	713-297-8024	713-513-8654

Source: W&T Offshore, Inc.

Released March 3, 2025

MIL OSI Economics –

March 4, 2025

MIL-OSI USA: Luján Announces Guest for President’s Joint Address to Congress, Highlights Roadrunner Food Bank and Nutrition Support

US Senate News:

Source: US Senator for New Mexico Ben Ray Luján
Washington, D.C. – Today, U.S. Senator Ben Ray Luján (D-N.M.) announced that Katy Anderson, Vice President of Strategy, Partnerships, and Advocacy at Roadrunner Food Bank will be his guest to President Trump’s address to a Joint Session of Congress.
“The Musk-Trump funding freeze and broad and indiscriminate firings across the federal government have devastated communities across America, leaving countless families uncertain where their next meal would come from. That’s why I’m honored to have Katy Anderson, Vice President of Strategy, Partnerships, and Advocacy at Roadrunner Food Bank join me for the President’s Joint Address. Roadrunner Food Bank is a leading hunger relief organization, ensuring that families in need have access to nutritious meals. But now, Elon Musk, President Trump, and Congressional Republicans are threatening critical funding for nutrition support – putting New Mexico families at risk,” said Senator Luján.
“Programs like the Supplemental Nutrition Assistance Program (SNAP) and the Emergency Food Assistance Program (TEFAP) are lifelines for thousands of New Mexicans. Gutting these resources hurts our families and threatens our communities and the economy. I hope Katy’s presence is a powerful reminder of the vital role that Roadrunner Food Bank and federal nutrition programs play in keeping our communities healthy and fed,” continued Senator Luján.
“Nutrition access is vital to New Mexicans – these are people who work hard to provide for themselves and their families. Those facing hunger want the same thing we all want for ourselves – dignity, access to fresh, healthy food and the opportunity to thrive. Proposed cuts to nutrition programs like SNAP and TEFAP undermine that; confusion around federal funding freezes undermines that,” said Katy Anderson, Vice President of Strategy, Partnerships, and Advocacy at Roadrunner Food Bank. “I’m honored to join Senator Luján for the Joint Address to stand up for New Mexico families.”
Background on Katy Anderson and Roadrunner Food Bank:
Katy Anderson joined Roadrunner Food Bank in 2014, focusing on special projects for the Community Initiatives team. For her first six years, she worked closely with the Food Bank’s network of 350+ partners as well as managing grants and government contracts. In April 2020, she moved into the role of Chief Programs Officer, a position that allowed her to work with amazing teams leading innovative efforts with all food partners, health and wellness programming, and data collection and analysis. In late 2023, she became the Vice President – Strategy, Partnerships, and Advocacy and has shifted her focus to state-wide collaborative approaches to addressing hunger issues.
Roadrunner Food Bank of New Mexico, a Feeding America member, is the largest non-profit dedicated to solving food insecurity in New Mexico. As a food distribution hub, Roadrunner Food Bank provides food to hundreds of affiliated member partners around the state including food pantries, soup kitchens, shelters and regional food banks. Roadrunner Food Bank also distributes food through specialized programs helping children, families and seniors at schools, low-income senior housing sites, senior centers and with and through health care partnerships. Every week, tens of thousands of hungry children, seniors and families are reached through this statewide hunger relief network. Roadrunner Food Bank is working together with partners, volunteers and contributors to end food insecurity and hunger in New Mexico. Learn more about Roadrunner Food Bank here.

MIL OSI USA News –

March 4, 2025
MIL-OSI USA: Peters Reintroduces Bipartisan Bill to Correct Retirement Error for Customs and Border Protection Officers

US Senate News:

Source: United States Senator for Michigan Gary Peters
Published: 02.26.2025

WASHINGTON, D.C. – U.S. Senator Gary Peters (D-MI), Ranking Member of the Homeland Security and Governmental Affairs Committee, reintroduced legislation to ensure U.S. Customs and Border Protection Officers (CBPOs) can receive the retirement benefits they were promised when starting their service. The bill addresses a mistake where Customs and Border Protection (CBP) incorrectly informed newly hired CBPOs that they would be eligible for proportional annuity, meaning they would not have to retire at a certain age or reach 20 years of service to qualify for the benefit enhancement. When CBP discovered their error – more than ten years after these officers had started their service – they rescinded these benefits and now require at least 1,352 officers, including 67 in Michigan, to meet additional requirements to receive the benefits they were initially promised.
“Customs and Border Protection Officers work tirelessly to protect our communities in Michigan and across the country, ensuring the secure and efficient flow of trade and travel at ports of entry,” said Senator Peters. “These dedicated officers made career and retirement decisions based on benefits they were promised when hired. This bipartisan legislation will ensure Customs and Border Protection upholds its commitment to these public servants and provides them with the retirement benefits they earned through their years of service.”
The CPBO Retirement Corrections Act would direct CBP to identify and notify eligible individuals of the correction, allow impacted officers to receive retirement benefits aligned with their originally promised coverage, provide retroactive annuity adjustments for eligible individuals who retire before the bill’s enactment, and grant the Department of Homeland Security authority to waive maximum entry age requirements for eligible officers.

MIL OSI USA News –

March 4, 2025
MIL-OSI USA: Ahead of Confirmation Hearing, Warren Presses FDA, NIH Nominees to Address Conflicts of Interest with Private Health Care, Medical Research Companies

US Senate News:

Source: United States Senator for Massachusetts – Elizabeth Warren
March 03, 2025
“The rampant revolving door of former government leaders lobbying the agencies they once led, while their government relationships remain fresh, erodes Americans’ faith in the federal government.”
Text of Letter to Dr. Makary (PDF) | Text of Letter to Dr. Bhattacharya (PDF)
Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.) wrote to Marty Makary and Jay Bhattacharya, nominees to lead the Food and Drug Administration (FDA) and the National Institutes of Health (NIH), respectively, asking them to address their conflicts of interest ahead of their confirmation hearings.
Dr. Makary currently serves as Chief Medical Officer at Sesame Care, a direct-to-consumer health care company that connects patients with providers who virtually prescribe Sesame’s medicine. He also serves on the board of Harrow, an ophthalmic company that relies on the FDA to approve its therapeutics. While Dr. Makary said he would resign from the board before taking office, his relationship with the company raises concerns about his ability to be impartial at the FDA.
Dr. Bhattacharya most recently worked as a research associate at Acumen, LLC, which offers analytical research services to the federal government, and has contracts with multiple agencies across the Department of Health and Human Services – including NIH.
Senator Warren asked both nominees to recuse themselves from all matters involving their former clients and employers for at least four years, a commitment their predecessors under the Biden administration made.
Senator Warren also asked them to agree to not work for any companies they regulate or interact with during their tenure, for four years after leaving office. During his confirmation process, Health and Human Services Secretary Robert F. Kennedy Jr., who oversees both of the nominees’ agencies, committed not to work for a pharmaceutical company for at least four years after leaving office.
Lastly, Senator Warren asked the nominees to refrain from lobbying their respective agencies for four years after leaving office.
“The rampant revolving door of former government leaders lobbying the agencies they once led, while their government relationships remain fresh, erodes Americans’ faith in the federal government,” wrote Senator Warren to the nominees.
To mitigate concerns about former government leaders lobbying the agencies they once led, multiple Biden appointees agreed to a post-employment lobbying ban, following pressure from Senator Warren.
“By making these commitments, you would increase Americans’ trust in your ability to serve the public interest, rather than the special interests of [former contractors or companies they regulated],” concluded Senator Warren.
Senator Warren gave the nominees until March 10, 2025 to demonstrate their commitment to public health and address their conflicts of interest.
Senator Warren has been a leader on enforcing government ethics standards and pressing nominees to address conflicts of interest:
In February 2025, Senator Elizabeth Warren wrote to Mr. Stephen Feinberg, nominee for Deputy Secretary of the Department of Defense (DoD), pressing him to explain his “serious conflicts of interest” and his track record of mismanagement.
In February 2025, following reports that Elon Musk would take advantage of loopholes in federal ethics laws to avoid publicly disclosing his financial conflicts of interest, Senator Elizabeth Warren led several Democrats in a letter demanding Musk publicly reveal how he could stand to profit from his role in the Trump administration.
In February 2025, Senator Elizabeth Warren and Tim Kaine (D-Va.) called on Mr. Robert F. Kennedy Jr. to recuse himself from former clients’ and employers’ particular matters and commit to not lobbying HHS after his tenure as Secretary.
In February 2025, following the Senate Finance Committee vote to advance the nomination of Mr. Robert F. Kennedy Jr. for Secretary of Health and Human Services, Senator Elizabeth Warren gave remarks regarding the nominee’s continued conflicts of interest.
In February 2025, Senators Warren and Ron Wyden (D-Ore.), Ranking Member on the Senate Finance Committee, wrote to Mr. Robert F. Kennedy Jr., pressing him to urgently resolve his serious conflicts of interest before the committee vote Wednesday morning.
In January 2025, following pressure from Senate Democrats, Mr. Robert F. Kennedy Jr. agreed to amend his flawed ethics agreement (see Warren QFRs at the end of Part 2 and start of Part 3).
In January 2025, at a hearing of the Senate Finance Committee, Senator Elizabeth Warren questioned Mr. Robert F. Kennedy Jr., nominee for Secretary of Health and Human Services, about his dangerous conflicts of interest and record of profiting from anti-vaccine conspiracies.
In January 2025, ahead of Mr. Robert F. Kennedy Jr.’s confirmation hearing for Secretary of Health and Human Services, Senator Elizabeth Warren sent a 34-page letter detailing her concerns with his nomination and asked him to answer 175 questions ahead of his hearing before the Finance Committee.
In January 2025, Senator Elizabeth Warren wrote to Mr. Pete Hegseth, then-nominee for Secretary of the Department of Defense, regarding his ethics conflicts ahead of the Senate’s consideration of his nomination. Particularly concerning were the facts that Mr. Hegseth’s household owns stock in several defense contractors and that he was unwilling to commit to the same post-employment restrictions he previously advocated for.
In January 2025, Senator Elizabeth Warren wrote to Trump Transition Co-Chairs Howard Lutnick and Linda McMahon, urging them to make the White House’s ethics pledge for incoming appointees as strong as possible and outlining specific provisions to do so. The letter came at the end of the first week of confirmation hearings for President-elect Trump’s cabinet nominees, many of whom have been found to have serious conflicts of interest and massive wealth.
In December 2024, Senator Elizabeth Warren sent a letter to President-elect Trump with concerns about Elon Musk’s conflicts of interest as he served as a top advisor for the incoming president.
In December 2024, Senators Elizabeth Warren, Ron Wyden (D-Ore.), Dick Durbin (D-Ill.), Jeff Merkley (D-Ore.), and Representative Lloyd Doggett (D-Texas) wrote to Dr. Mehmet Oz, President-elect Donald Trump’s pick to lead the Centers for Medicare & Medicaid Services, raising stark concerns about his advocacy to eliminate traditional Medicare and his deep financial ties to the private health insurers that would benefit from that move.
In November 2024, in response to the news that President-elect Donald Trump selected Robert F. Kennedy Jr. to serve as Secretary of Health and Human Services, Senator Elizabeth Warren released a statement calling him a “danger to public health, scientific research, medicine, and health care coverage for millions of Americans.”
In March 2024, Senator Elizabeth Warren secured ethics commitments from Douglas Schmidt, ahead of his confirmation to be the Director of Operational Test and Evaluation (DOT&E) for the Department of Defense.
In February 2024, Senator Elizabeth Warren secured unprecedented ethics commitments from former Congressman Sean Patrick Maloney, President Biden’s nominee for U.S. Ambassador to the Organisation for Economic Co-operation and Development (OECD), including his recusal from participating in the OECD’s decision making processes regarding crypto and digital assets policy.
In January 2024, Senator Elizabeth Warren and Representative Jayapal sent a letter to Secretary of Commerce Gina Raimondo, expressing concerns about the Department of Commerce’s reliance on a small team of Wall Street financiers to help allocate $39 billion in CHIPS and Science Act taxpayer-funded manufacturing and R&D subsidies.
In June 2023, Senator Elizabeth Warren and representative Andy Kim reintroduced her Department of Defense Ethics and Anti-Corruption Act.
In April 2023, Senator Elizabeth Warren chaired a hearing with Pentagon officials and ethics experts about problems with the revolving door, retired military officers working for foreign governments, and issues with executive branch officials owning stocks in companies impacted by their official actions.
In May 2022, Senator Elizabeth Warren secured a commitment from then-Federal Reserve Vice Chair for Supervision nominee Michael Barr not to seek employment or compensation – including as a result of board service – from any company that has a party matter before the Fed, or any financial services company, for four years after he leaves government service.
In February 2022, Senator Elizabeth Warren secured the strongest ethics standards ever agreed to by Federal Reserve Board nominees from Lisa Cook, Phillip Jefferson, and Sarah Bloom Raskin. The nominees agreed to a four-year recusal period from matters which they oversee on the Board of Governors, not to seek a waiver from these recusals, and not to seek employment or compensation from financial services companies for four years after leaving government service.
In January 2022, Senator Elizabeth Warren secured a commitment from then-FDA Commissioner nominee Dr. Robert Califf to recuse himself from matters involving his former employers and clients for four years, two years longer than what was required in the Biden administration’s Ethics Pledge. He also agreed not to seek employment with or compensation, including as a result of board service, from any pharmaceutical or medical device company that he interacts with during his tenure as FDA Commissioner for four years after completing his government service.
In July 2021, Senator Elizabeth Warren secured agreements to four-year recusals from former clients’ and employers’ party matters from then-Secretary of the Air Force Frank Kendall and then-USD(R&E) Heidi Shyu.
In January 2021, Senator Elizabeth Warren secured a commitment from General Lloyd Austin III, then-nominee for Secretary of Defense, to extend his recusal from Raytheon Technologies for four years and to not seek a position on the board of a defense contractor or become a lobbyist after his government service.
In December 2020, Senator Elizabeth Warren and Representative Jayapal introduced the Anti-Corruption and Public Integrity Act, the most ambitious anti-corruption legislation since Watergate, which would outlaw corrupt revolving-door schemes so that public servants are serving the public – not the financial interests of themselves or giant corporations.
In March 2020, President Trump signed the bipartisan Presidential Transition Enhancement Act into law, which included major provisions of Sen. Warren’s (D-Mass.) Transition Team Ethics Improvement Act.
In September 2019, the Senate passed a key provision of the Transition Team Ethics Improvement Act introduced by Senators Warren and Tom Carper (D-Del.) to enhance the ethics requirements that govern presidential transitions.
In November 2016, as President Trump prepared to take office, Senator Elizabeth Warren and Chairman Cummings requested a GAO investigation of the chaotic Trump transition. In September 2017, Government Accountability Office (GAO) released the results of the investigation, finding that the Trump transition team ignored advice from the Office of Government Ethics and failed to follow past precedents regarding ethics and presidential transitions.

MIL OSI USA News –

March 4, 2025
MIL-OSI United Kingdom: New Chief Executive appointed at MHRA
Source: United Kingdom – Executive Government & Departments

Press release

New Chief Executive appointed at MHRA

Lawrence Tallon is appointed as the new Chief Executive Officer of Medicines and Healthcare products Regulatory Agency (MHRA).
The government has today announced the appointment of Lawrence Tallon as the new Chief Executive Officer of Medicines and Healthcare products Regulatory Agency (MHRA).

Following an extensive recruitment process, Mr Tallon will begin the role from 1 April 2025.

He will succeed Dame June Raine DBE who is retiring and has led the organisation since 2019, having steered the MHRA through the COVID-19 pandemic and the UK’s exit from the European Union.

Health and Social Care Secretary Wes Streeting said:

“I’m delighted to appoint Lawrence Tallon as CEO, marking an important new chapter for the MHRA.

“MHRA’s work is mission critical to making the NHS fit for the future. There is a revolution taking place in life sciences, with new innovative medicines developed more frequently than ever before. We need the MHRA to work much faster so patients can benefit as soon as possible, and I’m confident that Lawrence is the man for the job.

“The agency plays a crucial role in protecting public health and promoting medical innovation and, under Lawrence’s leadership, I am confident it will continue to be a world-leading regulator.

“I want to thank Dame June and wish her all the best in her retirement.”

Throughout his career, Mr Tallon has demonstrated a strong commitment to healthcare innovation and patient safety.

He is currently Deputy Chief Executive at Guy’s and St Thomas’ NHS Foundation Trust, where he has served since March 2020.

He is also managing director of the Shelford Group, which represents some of England’s leading NHS teaching hospitals. This experience has given him valuable insight into the challenges and opportunities facing modern healthcare systems.

Prior to this he served as Director of Strategy, Planning and Performance at University Hospitals Birmingham NHS Foundation Trust and worked within the Department of Health and Social Care alongside ministers and NHS leaders.

Professor Anthony Harnden, Chair of the Medicines and Healthcare products Regulatory Agency said:

“I am delighted to welcome Lawrence Tallon as the new MHRA Chief Executive.

“Lawrence is an impressive leader who brings with him a wealth of experience from across the healthcare sector, nationally and globally. I look forward to working with him to maintain the UK as a global centre of excellence in life sciences and strengthening safety systems in the best interests of patients and the public.

“I would also like to give enormous thanks to Dame June Raine, who is handing the baton on to Lawrence after more than 5 years of being MHRA CEO and nearly 40 illustrious years at the Agency. June’s leadership and unwavering commitment to patient and public health cannot be overstated.”

The appointment comes at a crucial time for the MHRA as it continues to enhance its position as a sovereign regulator and strengthen its international partnerships. Mr Tallon will lead the organisation’s work to accelerate patient access to innovative medicines and medical devices while maintaining the highest standards of safety and effectiveness.
The Medicines and Healthcare products Regulatory Agency (MHRA) is the UK’s regulator of medicines, medical devices and blood components for transfusion.

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Published 3 March 2025
MIL OSI United Kingdom –
March 4, 2025
MIL-OSI Australia: Screen Australia announces $2.3 million for documentaries, supporting a new wave of world-class Australian projects

Source: Screen Australia

04 03 2025 – Media release

Crowded House
Screen Australia has announced support for eight documentaries that will share in $2.3 million of direct production funding. These projects reflect the incredible tenacity of local documentary makers to uncover stories in Australia and around the globe, from Western Sydney to Ecuador. The documentaries deep-dive into a wide array of topics, from the defining issues of our time to celebrating cultural icons and shining a light on marginalised or misunderstood communities.
Among the projects are Robodebt (working title), a three-part series for SBS that combines documentary storytelling with drama to reveal how ordinary Australians fought back against the notorious Robodebt scandal; Crowded House, which unravels the psychological complexities the iconic band faced in their extraordinary journey; End Game, following Tony Armstrong on a mission to tackle racism in Australian sports; and RISE, from writer/director Patrick Abboud, about participants preparing to compete on Western Sydney’s spectacular LGBTQIA+ ballroom scene.
Screen Australia Head of Documentary Richard Huddleston said, “These stories, spanning numerous genres and disciplines, are a reflection of the ambition, sophistication and creativity of the current Australian documentary sector. These projects will grow Australia’s reputation for innovative, premium storytelling and point to an exciting future of global partnerships.”
Projects supported:

Crowded House: A feature-length documentary that dives deep into the Crowded House journey, unravelling the psychological complexities they faced in the wake of their meteoric rise, and spotlighting the evolution of the current line-up that includes Neil’s two sons, Liam and Elroy Finn. Woven from a treasure-trove of never-before-seen family and band archive, candid interviews, and more, the narrative moves between the past, present and a dream-like place of investigation and analysis that has the genius of Neil Finn’s song writing at its core. Crowded House is a co-production between Ghost Pictures (Mystify: Michael Hutchence, Autoluminescent, In Bob We Trust) and Academy Award-nominated producer, Carthew Neal (Jojo Rabbit, Tickled) and his production company Fumes. Financed by the New Zealand Film Commission in association with the ABC and VicScreen. Produced with the support of Primary Wave and Nude Run. An Australian-New Zealand Co-production. Australia and New Zealand territories distributed by Madman.
RISE: With exclusive access into Western Sydney’s underground LGBTQIA+ ballroom scene, the documentary RISE follows participants as they prepare to compete at the iconic West Ball. In a world seeking to erase them, RISE will portray which of these queer rebels will finally have their moment on the cutthroat stage and transform their life. It is written and directed by Patrick (Pat) Abboud (Australia Uncovered: Kids Raising Kids), with Monique Keller and Billy Russell (The Role of a Lifetime) executive producing, and West Ball community leaders, Xander Khoury and Jamaica Moana co-executive producing.
Death of a Shaman: In the depths of the Ecuadorian Amazon, a renowned Shuar shaman selects his reluctant grandson as his apprentice in an attempt to preserve their tribe’s ancestral wisdom for another generation. Meanwhile, the shaman’s son leads an Indigenous uprising that seeks to overthrow the Ecuadorian president. What transpires next will foreshadow either the preservation or destruction of a people. The feature-length documentary Death of a Shaman is from writer/director/producer Dan Jackson (In the Shadow of the Hill) and executive producers Robert Fernandez (The Fog of War) and Dan Levinson. It is financed in association with Soundfirm, with Umbrella Entertainment distributing locally.
Silenced: A feature film from Stranger Than Fiction that follows internationally renowned human rights lawyer Jennifer Robinson as she goes inside courtrooms and behind the headlines, to reveal the tricks and tropes used to silence women all over the world. Silenced is from writer/director Selina Miles and producer Blayke Hoffman, whose credits include the acclaimed Harley & Katya. Jennifer Peedom (Sherpa, Mountain) is executive producing. It is financed in association with Minderoo Pictures and the ABC, with support from Screen NSW, the Shark Island Foundation and Soundfirm. Local distribution by Sharmill Films and international sales by Together Films.
Troublemaker: This feature film follows massacre survivor Wendy Scurr and South Australian writer/director Jared Nicholson (Starting from Scratch), as they slip down the rabbit hole of paranoia in a desperate search for solace and truth. Directing alongside Nicholson is Ben Lawrence, with Rebecca Barry, Scott Baskett, Madeleine Hetherton-Miau and Chris Kamen producing and Deanne Weir executive producing. It is financed in association with the Shark Island Foundation, with support from the Adelaide Film Festival Investment Fund, the South Australian Film Corporation, Screen NSW and WeirAnderson Films. Post, digital and visual effects are supported by the South Australian Film Corporation.
Digby & Camille: This feature film is an eight-year love story about Sydney artist and the documentary’s co-director Digby Webster and his girlfriend, trainee chef Camille Collins, who both live with Down Syndrome. Looking to take the next step in their relationship, the couple fervently wish to live together and marry. But complicating their dream of wedded bliss are the very real concerns and questions from those who love and support them most, their parents. Directing alongside Digby is Trevor Graham (Chef Antonio’s Recipes for Revolution), who is also producing with Lisa Wang (White Fever). It is written by Rose Hesp (Who Do You Think You Are?), with Mitzi Goldman (Knowing the Score), Roger Savage and Jenny Lalor executive producing. It is financed in association with the Melbourne International Film Festival (MIFF) Premiere Fund, with support from Screen NSW, the Shark Island Foundation, Soundfirm, the Andy Inc Foundation and Philanthropy via Documentary Australia. Local distribution by Bonsai Films.
Robodebt (working title): A three-part series for SBS that combines documentary storytelling with drama to reveal how ordinary Australians fought back against the notorious Robodebt scandal that struck at the heart of inequality and social cohesion in Australia. It is from director Ben Lawrence (Hearts and Bones) and writer Jane Allen (Troppo, In Our Blood). Executive producing is Paula Bycroft (Con Girl), Michael Cordell (Go Back to Where You Came From) and Andrew Farrell (Murder in the Outback, Undercurrent). It has received major production investment from SBS with support from Screen NSW.
End Game: This three-part series for the ABC follows Tony Armstrong on a global mission to find solutions to combat the rising tide of racism in Australian sports to create real change for future generations — unpicking his own experiences on a personal journey of discovery, surprise, passion and understanding. End Game is executive produced by Daniel Brown (The Hospital: In the Deep End), Steve Bibb (Matildas: The World at Our Feet) and Dean Gibson (First Weapons). It has received major production investment from the ABC, with support from Screenwest and Lotterywest. International sales by ABC Commercial.

Documentaries also announced and recently supported by Screen Australia include Stan Originals Death Cap, Into the Night and Zyzz & Chestbrah: The Poster Boys, as well as ABC’s Ages of Ice, and feature film The Golden Spurtle.
The full list of documentary blocklines is available here. The latest projects funded for documentary development are available here. For more information about Documentary funding at Screen Australia and to apply, click here.

Digby & Camille
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+ 61 2 8113 5915 | [email protected]
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+ 61 428 767 836 | [email protected]
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MIL OSI News –

March 4, 2025
MIL-OSI Australia: Federal funding set to improve Queensland’s regional airports
Source: Australian Executive Government Ministers

The Albanese Government will invest over $6 million to bring 11 regional airport projects to life across Queensland, under Round 4 of the Regional Airports Program.

Airports are vital for regional communities, providing critical access to emergency healthcare, as well as commerce, industry, tourism and education.

These projects will include runway, apron and taxiway upgrades, lighting installation, generator replacements and drainage works – which will improve airport safety and enhance accessibility.

In Hervey Bay, $234,631 will support Fraser Coast Regional Council to replace the perimeter fencing and emergency generator at Hervey Bay Airport.

This will ensure the airport’s ongoing safety and security, which provides vital aviation access for the community, tourism, essential workers and medical flights.

In Roma, nearly $1.16 million will flow to Maranoa Regional Council to upgrade the general aviation apron at Roma Airport, to support reliable and safer access for aero‑medical, firefighting, charter, freight, tourism and other general aviation services.

Other works to be funded under Round 4 in Queensland include:
- More than $1 million for the Gladstone Airport Corporation to construct a fit-for-purpose patient transfer facility at Gladstone Airport, primarily to be used by the Royal Flying Doctor Service.
- $795,097 for Gympie Regional Council to reseal the runway and taxiway, strengthen the apron, and do line marking and drainage works at Gympie Aerodrome, to improve pilot and aircraft safety while ensuring reliable access to the airstrip.
- $426,196 for Southern Downs Regional Council to upgrade the lighting system at Stanthorpe Aerodrome, to meet safety standards and improve usability by aircraft – especially during low visibility conditions and night operations.
More information on the Regional Airports Program, including a full list of Round 4 projects in Queensland, can be found here.

Quotes attributable to Minister for Infrastructure, Transport, Regional Development and Local Government, Catherine King:

“We know how vital regional airports are to the communities they service, ensuring access to other towns, to markets, and to vital services such as emergency health care.

“That’s why we are investing in safety and other upgrades at regional airports across Queensland, to ensure they can continue to service communities for years to come.”

Quotes attributable to Assistant Minister for Regional Development and Senator for Queensland, Anthony Chisholm:

“Regional airports are critical for a decentralised state like Queensland. They’re a gateway for tourism and help connect locals with the rest of the country.

“Our funding to replace the perimeter fencing and emergency generator here Hervey Bay Airport will back the airport’s ongoing operations by boosting safety and security.

“This is just one of 11 projects we’re investing in across Queensland under Round 4 of the Regional Airports Program, which will make a real difference for communities.”

Quotes attributable to Fraser Coast Regional Council Mayor, George Seymour:

“The Hervey Bay Airport is an essential link for our region, providing essential services for tourism, business, and emergency medical flights.

“This funding will allow Council to replace the aging emergency generator, ensuring the airport remains operational during power outages and severe weather events. Upgrading the security fencing will also strengthen safety and compliance, helping to protect passengers, staff, and aircraft operations.

“These improvements will enhance the airport’s long-term sustainability and ensure it continues to serve our growing community well into the future.”

MIL OSI News –
March 4, 2025
MIL-OSI USA: Lt. Gov. Austin Davis Highlights Investments in Community-BasedPrograms That Are Making Pennsylvania Safer

Source: US State of Pennsylvania

March 03, 2025 – WEST READING, PA

Lt. Gov. Austin Davis Highlights Investments in Community-Based
Programs That Are Making Pennsylvania Safer

Lt. Gov. Austin Davis heard today from law enforcement officials, victims service providers and health care workers at Reading Hospital, which recently was awarded more than $600,000 in state grant funding to expand and enhance its hospital-based violence intervention program.

“Gun violence is something we can – and indeed, must – do something about,” said Davis, who leads the Pennsylvania Commission on Crime and Delinquency (PCCD). “I want to commend local law enforcement for the work you’ve done to reduce the number of homicides in Berks County, but I also know that one act of gun violence is one too many. Every Pennsylvanian deserves to be safe and feel safe, whether you live in West Reading or West Hamburg. We’ve been making progress on the issue of gun violence, in Reading, Philadelphia, Pittsburgh and many other cities and communities, but there is still much more work to be done.”

MIL OSI USA News –

March 4, 2025
MIL-OSI USA: Shapiro Administration Urges Pennsylvanians to Prepare Now for May 7 REAL ID Deadline

Source: US State of Pennsylvania

March 03, 2025 – Philadelphia, PA

Shapiro Administration Urges Pennsylvanians to Prepare Now for May 7 REAL ID Deadline

With just two months remaining until the May 7 federal REAL ID enforcement deadline, officials from the Pennsylvania Department of Transportation (PennDOT), the Philadelphia International Airport, American Automobile Association (AAA), and the Transportation Security Administration (TSA) are encouraging Pennsylvanians to prepare now to ensure they can fly domestically without disruptions.
These efforts reflect the Shapiro Administration’s commitment to ensuring residents have the information and opportunities they need to comply with the federal deadline.

Getting a REAL ID is optional in Pennsylvania, but beginning May 7, travelers will need a REAL ID-compliant driver’s license or ID card, or another form of federally-acceptable identification (such as a valid passport or military ID) to board a domestic commercial flight, and enter military bases and other federal facilities that require ID at the door. More than 2.5 million Pennsylvanians have gotten a REAL ID driver’s license or ID card since they became available in the state in 2019.

“As the weather starts getting warmer, we know many Pennsylvanians have made exciting travel plans,” said PennDOT Secretary Mike Carroll. “With federal REAL ID enforcement beginning on May 7, your travel planning should include making sure you have proper ID to fly. If you want to keep using your driver’s license or photo ID card to fly domestically, you’ll need to upgrade to a REAL ID if you haven’t already.”

Speakers Include:
Atif Saeed, Chief Executive Officer for the Philadelphia International Airport
Gerardo “Jerry” Spero, Federal Security Director for Pennsylvania, TSA
Mike Carroll, Secretary, PennDOT
Jana Tidwell, Manager, Public and Government Affairs, Pennsylvania & Delaware, AAA

MIL OSI USA News –

March 4, 2025
MIL-OSI USA: New Yorkers Urged to Prepare for Ice Jam Flooding
Source: US State of New York

overnor Kathy Hochul today urged New Yorkers to prepare for potential flooding due to warm temperatures and rainfall, starting Tuesday night and continuing through Thursday. Temperatures will increase across the State starting Tuesday, with some places seeing close to 60 degrees. Higher-than-normal temperatures combined with up to an inch of rainfall may result in localized flooding and elevated river flows with some ice jams, especially on creeks and streams in Western and northern Central New York.

“New York is no stranger to extreme weather and the potential danger of flooding,” Governor Hochul said. “My administration is monitoring the weather closely and will deploy resources if necessary to keep New Yorkers safe, and I encourage everyone to remain vigilant and watch the forecast closely over the next several days.”

There is a Flood Watch in effect for Western NY, the northern Finger Lakes, northern Central NY and the Tug Hill Plateau of the North Country from Tuesday afternoon through Thursday afternoon due to snow melt, rainfall and ice movement. Ice jam flooding will be possible, especially on creeks and streams where blockages have already been reported. For a complete listing of weather alerts, visit the National Weather Service website. New Yorkers are also encouraged to sign up for emergency alerts by subscribing to NY Alert — a free service providing critical emergency information to your cell phone or computer.

Agency Preparations

New York State Division of Homeland Security and Emergency Services
The Division’s Office of Emergency Management is in contact with their local counterparts and is prepared to facilitate requests for assistance. State stockpiles are staffed and ready to deploy emergency response assets and supplies as needed. The State Watch Center is monitoring statewide impacts closely. Flood safety tips can be found at www.dhses.ny.gov.

Department of Transportation

The State Department of Transportation is prepared to respond with more than 3,763 supervisors and operators. Department staff are actively monitoring known problem areas and are ready to take action as needed to mitigate flooding. Crews can be configured into any type of response needed, including flood response, chipper, load & haul, sewer jet, cut & toss, traffic signal, etc. DOT crews are also proactively clearing snowbanks, checking and clearing drains and culverts. All residencies in impacted locations will remain staffed with operators, supervisors and mechanics throughout the duration of the event and priority cleanup operations.

Statewide equipment numbers are as follows:
- 1,610 large dump trucks
- 349 large loaders
- 90 chippers
- 83 wheeled and tracked excavators
- 15 vacuum trucks with sewer jets
- 12 tree crew bucket trucks
The need for additional resources will be re-evaluated as conditions warrant throughout the event.

For real-time travel information, motorists should call 511 or visit https://www.511ny.org/#:Alerts, New York State’s official traffic and travel information source.

Thruway Authority

The Thruway Authority has 693 operators and supervisors prepared to respond to any wind, flood, or weather-related issues across the State with small to large plow/dump trucks, medium sized excavators, large loaders, vacuum trucks, portable pumps, chainsaws, brush chippers and other equipment. In addition, Division Maintenance crews are proactively inspecting, clearing and maintaining ditches, culverts and storm drains to effectively channel storm water away from road surfaces and roadbeds to prevent flooding on the roadway.

Variable Message Signs and social media are utilized to alert motorists of weather conditions on the Thruway. The Thruway Authority encourages motorists to download its mobile app which is available for free on iPhone and Android devices. The app provides motorists direct access to real-time traffic information, live traffic cameras and navigation assistance while on the go. Motorists can also sign up for TRANSalert e-mails and follow @ThruwayTraffic on X for the latest traffic conditions along the Thruway.

New York State Police

State Police have instructed all Troopers to remain vigilant and will deploy extra patrols to affected areas as needed. All four-wheel drive vehicles are in service and all specialty vehicles, including Utility Terrain Vehicles, are staged and ready for deployment.

Department of Public Service

New York’s utilities have about 5,500 workers available statewide to engage in damage assessment, response, repair and restoration efforts across New York State, as necessary. Agency staff will track utilities’ work throughout the event and ensure utilities shift appropriate staffing to regions that experience the greatest impact.

New York State Department of Environmental Conservation
DEC Emergency Management staff, Environmental Conservation Police Officers, Forest Rangers and regional staff remain on alert and continue to monitor the developing situation and weather forecasts. Working with partner agencies, DEC is prepared to coordinate resource deployment of all available assets, including first responders, to targeted areas in preparation for potential impacts due to heavy rainfall and flooding.

Unpredictable weather and storms in the Adirondacks, Catskills and other backcountry areas, can create unexpectedly hazardous conditions. Visitors should be prepared with proper clothing and equipment for rain, snow, ice and the cold to ensure a safe outdoor experience. Trails have mixed conditions of snow, ice, slush and mud.

Hikers are advised to temporarily avoid all high-elevation trails, as well as trails that cross rivers and streams. Hikers in the Adirondacks are encouraged to check the Adirondack Backcountry Information webpages for updates on trail conditions, seasonal road closures and general recreation information. Backcountry visitors should Hike Smart and follow proper safety guidelines. Plan trips accordingly. In an emergency, call 9-1-1. To request Forest Ranger assistance, call 1-833-NYS-RANGERS.

With warmer temperatures expected throughout the week, DEC reminds any outdoor enthusiasts to be mindful of conditions when hiking and to use caution when venturing onto ice. While some waterways may appear frozen, DEC advises outdoor enthusiasts to review ice safety guidelines before heading out.

Office of Parks, Recreation and Historic Preservation

New York State Park Police and park personnel are on alert and closely monitoring weather conditions and impacts. Park visitors should visit parks.ny.gov, check the free mobile app, or call their local park office for the latest updates regarding park hours, openings and closings.

Flood Safety Tips
- Learn the safest route from your home or business to high, safe ground should you have to leave in a hurry.
- Develop and practice a ‘family escape’ plan and identify a meeting place if family members become separated.
- Make an itemized list of all valuables including furnishings, clothing and other personal property. Keep the list in a safe place and consider maintainig photo and video documentation.
- Stockpile emergency supplies of canned food, medicine and first aid supplies and drinking water. Store drinking water in clean, closed containers.
- Plan what to do with your pets.
- Have a portable radio, flashlights, extra batteries and emergency cooking equipment available.
- Keep your automobile fueled. If electric power is cut off, gasoline stations may not be able to pump fuel for several days. Have a small disaster supply kit in the trunk of your car.
- Find out how many feet your property is above and below possible flood levels. When predicted flood levels are broadcast, you can determine if you may be flooded.
- Keep materials like sandbags, plywood, plastic sheeting and lumber handy for emergency waterproofing.
- Check on your insurance coverage. Homeowners’ insurance policies generally do not cover flood damages. Only flood insurance can protect your home against flood damages. You can purchase flood insurance whether or not you live in a mapped flood zone.
For a complete list of weather terms and preparation ideas before, during and after a flood, visit the Division of Homeland Security and Emergency Services website at https://www.dhses.ny.gov/flood-safety-tips.

MIL OSI USA News –
March 4, 2025
MIL-OSI USA: March Recognized as Problem Gambling Awareness Month
Source: US State of New York

overnor Kathy Hochul today issued a proclamation designating March 2025 as Problem Gambling Awareness Month in New York State. The Governor’s proclamation outlined the collaborative efforts of stakeholders to provide resources and build awareness of an often undetected addiction. In recognition of March as problem gambling awareness month, 14 landmarks across the state will be illuminated yellow on March 3.

“Problem gambling can affect any New Yorker regardless of their background,” Governor Hochul said. “That’s why we’re raising awareness and making sure all stakeholders are working together to ensure that no one fights this undetected addiction alone.”

National Problem Gambling Awareness Month was created by the National Council on Problem Gambling. This year’s theme, “Seeking Understanding,” focuses on increasing awareness of problem gambling as a serious but often misunderstood mental health condition. By fostering a deeper understanding of the issue, we can encourage empathy, reduce barriers to treatment, and provide support to those affected by gambling-related harm.”

New York State Office of Addiction Services and Supports Commissioner Dr. Chinazo Cunningham said, “By proclaiming March as Problem Gambling Awareness Month, Governor Hochul highlights the need for greater understanding and support for those affected by gambling-related challenges. Stigma often prevents individuals from seeking help, and at OASAS, we are committed to fostering empathy and public awareness over gambling harms — including our new ‘Take a Pause’ campaign designed to break down the barriers that prevent New Yorkers from accessing the care they need.”

Gaming Commission Executive Director Robert Williams said, “Problem Gambling Awareness Month is an opportune time to spread awareness and educate individuals on the warning signs of problem gambling. Governor Hochul’s highlighting of the issue underscores her ongoing commitment to implementing responsible gaming policies that ensure the tools and resources for those who need help are readily available.”

New York Council on Problem Gambling Executive Director Jim Maney said, “We are proud to join with the Gaming Commission and OASAS to recognize Problem Gambling Awareness Month, and we are grateful to Governor Hochul for bringing much-needed attention to an issue that affects countless New Yorkers. We continue to work with our government RPP partners and our colleagues in New York’s gaming industry to provide hope for those in crisis.”

Governor Hochul’s proclamation highlights the work of New York’s Responsible Play Partnership (RPP), consisting of the New York State Office of Addiction Services and Supports (OASAS), the New York State Gaming Commission, and the New York Council on Problem Gambling. The RPP continues to ensure New Yorkers are aware of problem gambling as well as the prevention, treatment and recovery services available across the state.

OASAS’ “Take a Pause” PSA campaign highlights the steps New Yorkers can take to understand the risks and ensure responsible gambling, as well as where individuals can find help for themselves or a loved one impacted by, or at risk of developing a gambling problem.

Individuals are also invited to complete a survey, where they can determine if their gambling raises concern and be directed to additional support and resources.

In addition to PSA campaigns, the RPP created new training materials for video lottery and commercial casino employees on how to recognize problem gambling behavior, how to interact with someone exhibiting such behavior, and how to get them help in a timely manner.

New York State has a robust voluntary self-exclusion program that allows individuals to bar themselves from any legal gaming opportunity in the state. The program was recently expanded to give individuals who self-exclude the option to be contacted directly by a HOPEline professional for additional support.

The following locations are participating in the coordinated lighting on March 3:
- Albany International Airport Gateway
- Alfred E. Smith State Office Building
- Empire State Plaza
- Fairport Lift Bridge over the Erie Canal
- Governor Mario M. Cuomo Bridge
- Kosciuszko Bridge
- Moynihan Train Hall
- MTA LIRR – East End Gateway at Penn Station
- Niagara Falls
- One World Trade Center
- State Education Building
- State Fairgrounds – Main Gate & Expo Center
- The “Franklin D. Roosevelt” Mid-Hudson Bridge
- The H. Carl McCall SUNY Building
The RPP was formed to bring all stakeholders together to address problem gambling, including bridging the gap between gaming facility operators and problem gambling treatment providers. The RPP works to ensure that all gaming entities in the state comply with all rules and regulations and provide access to help for individuals who need it. The RPP continues to collaborate to advance New York’s ongoing commitment to prevent and treat problem gambling. Learn more at playresponsiblyny.com.

Those seeking help can visit NYProblemGamblingHelp.org or call New York State’s confidential HOPEline at 1-877-8-HOPENY (1-877-846-7369) or text HOPENY at 467369.

MIL OSI USA News –
March 4, 2025
MIL-OSI USA: Senator Coons, Young resolution to establish National FFA Week passes Senate

US Senate News:

Source: United States Senator for Delaware Christopher Coons

WASHINGTON – A bipartisan resolution introduced by Senators Chris Coons (D-Del.) and Todd Young (R-Ind.) to establish February 15-22, 2025, as National FFA Week passed the Senate yesterday.

The resolution highlights the important role of the National FFA Organization in developing the next generation of leaders by providing educational and career opportunities to students. It also commemorates the 75th anniversary of President Harry S. Truman signing into law a bill that provided a federal charter for FFA, acknowledging the significance of agricultural education in America.

“Young Delawareans learn to meet today’s agricultural challenges and prepare for tomorrow’s opportunities through programs offered by the Delaware FFA and the National FFA Organization,” said Senator Coons. “I’m thrilled this bipartisan resolution honoring this vital organization and its talented educators and members who will become the next generation of leaders passed the Senate.”

“FFA plays a critical role in the development of students through agricultural education. The lessons, tools, and resources gained through the FFA program equip Indiana’s future leaders with the skills needed to succeed in a variety of fields,” said Senator Young. “I’m glad to lead this resolution establishing National FFA Week in support of the more than 14,000 Hoosier FFA members.”

“National FFA Week serves as a powerful reminder of the vital role that agricultural education and leadership development play in shaping our future,” said National FFA Advisor Dr. Travis Park. “It’s a time of celebration and reflection as FFA members, advisors, and supporters come together to honor the impact of this extraordinary organization. The week highlights the value of fostering inclusivity and leadership while addressing the critical demand for skilled talent in agriculture and related industries. Through outreach events, community engagement, and heartfelt gratitude to supporters, National FFA Week strengthens the bond between members and their communities, ensuring the legacy of agriculture and education thrives for generations to come.”

In Delaware, there are 42 FFA chapters, with nearly 4,430 members.

In addition to Senators Young and Coons, Senators John Thune (R-S.D.), Jim Banks (R-Ind.), Bill Hagerty (R-Tenn.), Richard Blumenthal (D-Conn.), Jim Justice (R-W. Va.), Cory Booker (D-N.J.), Steve Daines (R-Mont.), Lisa Blunt-Rochester (D-Del.), Thom Tillis (R-N.C.), Catherine Cortez Masto (D-Nev.), Jim Risch (R-Idaho), Dick Durbin (D-Ill.), Susan Collins (R-Maine), John Fetterman (D-Pa.), James Lankford (R-Okla.), Ruben Gallego (D-Ariz.), John Barrasso (R-Wyo.), Maggie Hassan (D-N.H.), Shelley Moore Capito (R-W. Va.), John Hickenlooper (D-Colo.), Roger Marshall (R-Kan.), Tim Kaine (D-Va.), Roger Wicker (R-Miss.), Angus King (I-Maine), Cynthia Lummis (R-Wyo.), Mark Kelly (D-Ariz.), Chuck Grassley (R-Iowa), Amy Klobuchar (D-Minn.), Marsha Blackburn (R-Tenn.), Ben Ray Lujan (D-N.M.), Katie Britt (R-Ala.), Jeff Merkley (D-Ore.), Cindy Hyde-Smith (R-Miss.), Jon Ossoff (D-Ga.), Rick Scott (R-Fla.), Jeanne Shaheen (D-N.H.), Mitch McConnell (R-Ky.), Raphael Warnock (D-Ga.), Pete Ricketts (R-Neb.), John Boozman (R-Ark.), Joni Ernst (R-Iowa), Tim Sheehy (R-Mont.), Deb Fischer (R-Neb.), Tom Cotton (R-Ark.), Markwayne Mullin (R-Okla.), Eric Schmitt (R-Mo.), Ted Budd (R-N.C.), John Hoeven (R-N.D.), Mike Rounds (R-S.D.), and Kevin Cramer (R-N.D.) also cosponsored the resolution.

U.S. Representatives Tracey Mann (R-Kan.), Jimmy Panetta (D-Calif.), Glenn Thompson (R-Pa.), and Suzanne Bonamici (D-Ore.) introduced a companion resolution in the House of Representatives.

You can view the full text of the resolution here.

MIL OSI USA News –

March 4, 2025
MIL-OSI USA: Senators Coons, Murkowski, colleagues introduce Justice for ALS Veterans Act
US Senate News:
Source: United States Senator for Delaware Christopher Coons

WASHINGTON – U.S. Senators Chris Coons (D-Del.) and Lisa Murkowski (R-Alaska), Co-Chairs of the ALS Caucus, announced the introduction of the Justice for ALS Veterans Act. This bill, first introduced in January 2022, would guarantee that the surviving spouses of veterans receive all benefits due to them. Representatives Brian Fitzpatrick (R-Pa.) and Chris Pappas (D-N.H.) introduced the legislation in the House.

“Every year, ALS robs thousands more Americans of their ability to speak, move, and eventually to live,” said Senator Coons. “Veterans who have fiercely served our nation are twice as likely to receive an ALS diagnosis, and yet, despite our efforts to support them and their families, they do not receive the full benefits they have earned in death. I’m working with Senator Murkowski to right this wrong and take better care of military families impacted by ALS.”

“ALS is a horrible disease that indiscriminately wreaks havoc on families across the country – mine included,” said Senator Murkowski. “I am proud to lead this bipartisan group of senators who are partnering with healthcare and advocacy groups to support those affected and their families. Our first reintroduction, the Justice for ALS Veterans Act, is an important first step that will aid the families of veterans who have been devastated by ALS. It’s not clear why veterans develop ALS at a such a high rate, but it is clear that we should close the loophole that has prevented surviving families from receiving the full benefits that they are entitled to.”

“Our veterans fought for us, and when they face ALS—a devastating, fast-moving disease—we must fight for them and their families. Denying a surviving spouse benefits because their loved one didn’t live long enough to meet an arbitrary requirement is not just unfair—it is a betrayal of our commitment to those who served. The Justice for ALS Veterans Act will right this wrong and ensure that the families of our brave service members receive the support they have earned and deserve,” said Rep. Fitzpatrick, Co-Chair of the Bipartisan House ALS Caucus.

“Studies show our nation’s veterans have a higher likelihood of developing amyotrophic lateral sclerosis compared to non-veterans. Veterans with ALS and their families experience rapid life changes in addition to significant financial stress,” said Calaneet Balas, President and CEO of The ALS Association. “We express our gratitude to veterans and their families, as well as to the U.S. Senators who are championing the passage of the Justice for ALS Veterans Act. This legislation aims to guarantee that the families of veterans receive the benefits they rightfully deserve, without being penalized due to the rapid progression of ALS.”

“We are grateful to Senators Coons and Murkowski for their bipartisan leadership and commitment to veteran families impacted by ALS,” said Andrea Goodman, CEO of I AM ALS. “Veterans with ALS are a vital part of our community of advocates, and we are dedicated to ensuring those who bravely served our country receive the benefits they need. This legislation is critical to our effort to ensure survivors of veterans with ALS receive the benefits they deserve.”

“PVA thanks Senators Murkowski and Coons, Representatives Fitzpatrick and Pappas, and other Members of Congress who have prioritized the reintroduction of the Justice for ALS Veterans Act. Denying benefits for surviving spouses of ALS veterans due to the aggressive nature of this service-connected disability does a disservice to them. The Justice for ALS Veterans Act will ensure these survivors receive the additional financial support that is afforded to other veterans’ survivors,” said Heather Ansley, Chief Policy Officer of Paralyzed Veterans of America.

Background:
- Amyotrophic Lateral Sclerosis (ALS) is a neurodegenerative disease that renders the body unable to control muscle movement. There is no effective treatment for the disease, no known cause, and currently no cure. At present, ALS has a fatality rate of 100%. Veterans are twice as likely to develop ALS as the general public.
- Current policy states that a surviving spouse and family of a deceased veteran who had a service-connected disability deemed fully debilitating for a continuous period of at least eight years prior to death receive an additional monthly stipend from the Department of Veterans Affairs (VA). While ALS is deemed a service-connected disability, the average life expectancy for an individual diagnosed with ALS is just two to five years after diagnosis, which means that many families of an ALS-diagnosed veteran are not able to access this benefit. The Justice for ALS Veterans Act ensures that surviving spouses and families of veterans who pass away from ALS receive this additional benefit, regardless of how long an individual was living with ALS prior to their death.
- The ALS Caucus remains committed to improving the lives of those living with amyotrophic lateral sclerosis (ALS) and accelerating efforts toward a cure. The previous work of the Senate ALS Caucus includes:
A co-chair of the Senate ALS Caucus, Senator Coons has long been a proud advocate for ALS patients in the Senate. He has introduced several bipartisan bills to address ALS, including the ACT for ALS Act, which funds essential research into rare, neurodegenerative illnesses such as ALS. The bill was signed into law by President Biden in 2021.
MIL OSI USA News –
March 4, 2025
MIL-OSI USA: Senators Coons, Moran introduce legislation to expand financing options for new energy projects

US Senate News:

Source: United States Senator for Delaware Christopher Coons

WASHINGTON – U.S. Senators Chris Coons (D-Del.) and Jerry Moran (R-Kan.) reintroduced the Financing Our Energy Future Act, which expands certain financing tools to all types of energy resources and infrastructure projects. The legislation would allow clean energy resources and infrastructure projects to form as master limited partnerships (MLPs), a tax structure currently only available to traditional energy projects. Newly eligible energy sources would include advanced nuclear, sustainable aviation fuel, hydrogen, biodiesel, biomass, carbon capture, and more.

“At a time when the United States needs to boost domestic energy production to meet surging demand, Congress should ensure all energy sources are competing on a level playing field,” said Senator Coons. “The Financing our Energy Future Act is a straightforward, bipartisan solution that will bolster investment in American energy projects, create good-paying jobs, and accelerate our transition to cleaner energy sources.”

“Being energy independent requires an all-of-the-above approach to energy production,” said Senator Moran. “Emerging renewable energy companies currently do not have access to a number of tax incentives available to other energy companies. Expanding these incentives to more companies will increase U.S. energy production, spur innovation, and help reduce prices for consumers.”

“NIA thanks Senator Coons and Moran for recognizing the role master limited partnerships can play in supporting our nation’s advanced nuclear energy leadership,” said Judi Greenwald, Executive Director of the Nuclear Innovation Alliance. “Their bipartisan master limited partnerships legislation will help commercialize important innovations in advanced nuclear energy and other key technologies, increase U.S. competitiveness, and create jobs.”

“The Energy Infrastructure Council commends Senators Moran and Coons, along with Representatives Estes and Thompson, for their leadership in introducing the Financing Our Energy Future Act,” said Lori Ziebart, President and CEO of the Energy Infrastructure Council. “This bipartisan legislation is one step that Congress can take this year to grow the energy economy to benefit all working-class Americans. It expands the master limited partnership structure to include new and emerging energy sources such as hydrogen, alternative energy, carbon capture and sequestration, and renewable fuels. The MLP structure has proven to be an efficient, cost-effective method for raising capital to support the development of critical energy infrastructure and provides individuals another vehicle to invest in energy infrastructure similar to real estate investment through REITS. Expanding this framework is essential as all energy sources will be needed to ensure a reliable and secure energy future. This expansion deepens the capital pool, improves market efficiency, creates jobs, and drives down costs of energy in a way that will help all Americans.”

“To strengthen its economic base and create more reliable and affordable energy, the U.S. needs tax policies that reflect the depth and breadth of America’s energy sector,” said Frank Macchiarola, American Clean Power (ACP) Association Chief Advocacy Officer. “The Financing Our Energy Future Act offers an innovative, logical approach to that challenge that will make America’s energy sector stronger and better able to serve the needs of the nation.”

“BPC Action applauds the introduction of the Financing Our Energy Future Act, an important step in incentivizing the deployment of innovative energy technologies to increase U.S. economic growth and global competitiveness,” said Michele Stockwell, President of Bipartisan Policy Center Action (BPC Action). “We commend Sens. Moran’s and Coons’ bipartisan leadership to level the playing field for novel energy projects—including around carbon capture, utilization, and storage, energy storage, advanced nuclear, and waste-to-energy—to have the same tax-advantaged structures currently available to fossil fuels.”

“As the U.S. enters a period of increasing demand growth, it is important to include all forms of reliable energy in advantageous tax and financing structures to accelerate deployment and ensure grid reliability,” said Jeremy Harrell, CEO of ClearPath Action. “We are excited to see advanced nuclear included in this proposal to help catalyze the next generation of advanced reactors through access to master limited partnerships.”

An MLP is a business structure that is taxed as a partnership but whose ownership interests are traded like corporate stock on a market. Currently, MLPs are only available to investors in energy portfolios for oil, natural gas, coal extraction, and pipeline projects. For projects to be an MLP, at least 90 percent of the project’s income must come from these sources. This legislation would amend the Internal Revenue Code to extend the publicly traded partnership ownership structure to renewable energy power generation projects.

In addition to Senators Coons and Moran, this legislation is cosponsored by Senators Susan Collins (R-Maine), John Barrasso (R-Wyo.), Roger Marshall (R-Kan.), John Cornyn (R-Texas), Angus King (I-Maine), John Curtis (R-Utah), Kevin Cramer (R-N.D.), Pete Ricketts (R-Neb.), and Mark Warner (D-Va.).

The full legislation can be read here.

MIL OSI USA News –

March 4, 2025
MIL-OSI New Zealand: Police seek information and footage to SH6 fatality, Gibbston

Source: New Zealand Police (National News)

An investigation has been launched into the death of a man on State Highway 6 after he was struck by a vehicle last night.

Emergency services were called to the scene near Kawerau Bridge Historic Reserve at around 10pm.

Sadly, the man was located deceased at the scene.

Work is now underway to understand what has occurred, as well as to formally identify the victim.

Police would like to speak with anyone who might have witnessed the incident.

We’d also like to hear from anyone who may have seen a man wearing black pants and a black shirt, walking on SH6 near the area before 10pm, or anyone who has captured dashcam footage from the incident or surrounding times.

If you have any information that may assist Police in our investigation, please contact us online at 105.police.govt.nz, clicking “Update Report” or by calling 105.

Please use the reference number 250304/8199.

Information can also be provided anonymously through Crime Stoppers at 0800 555 111.

ENDS

Issued by Police Media Centre

MIL OSI New Zealand News –

March 4, 2025
MIL-OSI Australia: Active Transport Boost for the ACT

Source: Australian Executive Government Ministers

Canberrans will have more opportunities to walk, cycle and actively move through their communities thanks to funding from the Albanese Labor Government.

Two projects will share in $8.5 million to build new or upgrade existing pedestrian and cycle paths – from Dickson to Watson and from Gold Creek to Hall.

$5 million will go to the Transport Canberra and City Services Directorate to further extend the Garden City Cycleway through the inner north.

This will be built between North Ainslie Primary School and Majura Primary School via the Dickson District playing fields, Downer shops, Academy of Interactive Entertainment and Mount Majura Walking and Riding Trail.

The Albanese and Barr Governments have already invested $5 million each into the Garden City Cycleway, with work nearing completion on the first stage connecting Braddon to Ainslie.

This additional funding will ensure a further 3.15 kilometres can be enjoyed by cyclists and pedestrians.

Further north, almost $3.5 million will go to the directorate for a new community path to be built between Hall Village and Gold Creek known as the Hall Village Main Route.

At about 2.3 kilometres long with a width of three metres, it’ll provide safer and more accessible transport options for visitors and locals.

This is part of the Albanese Government’s new Active Transport Fund which supports our commitment to invest in infrastructure planning, design and construction that improves safety outcomes for vulnerable road users under the National Road and Safety Strategy 2021-2030.

For more information visit Active Transport Fund | Infrastructure Investment Program.

Quotes attributable to Minister for Infrastructure, Transport, Regional Development and Local Government Catherine King:

“Canberra is a beautiful city for walking, cycling and getting outdoors, which is why we’re making it easier to do so by investing in active transport options to better connect the territory.

“We’re linking the city, changing the way locals move and visitors explore; Whether you’re on a motor scooter, pushing a pram, walking or cycling, we’re making it easier and safer to walk and cycle to school, work, and anywhere else.”

Quotes attributable to ACT Minister for City and Government Services Tara Cheyne

“The ACT Government welcomes this investment from the Albanese Government which will strengthen our walking and cycling network.

“The completion of the Garden City Cycleway will mean that both sides of this busy transport corridor have good connections helping people get in and out of the city.

“This investment will go some way in delivering our long-standing active travel plan, which is an ambitious proposal to build quality walking and cycling infrastructure right across Canberra.”

Quotes attributable to Federal Member for Canberra Alicia Payne:

“Canberrans love active travel, and I’m proud our Government is investing in making it a safer and more viable option. By improving active travel connections in community centres, we are creating more opportunities for people to travel by using physical activity, making our communities healthier and more liveable.

“We are now providing a far safer way to get around for students, pedestrians and cyclists across Canberra.”

MIL OSI News –

March 4, 2025

MIL-OSI: James River Announces Fourth Quarter 2024 Results

Source: GlobeNewswire (MIL-OSI)

PEMBROKE, Bermuda, March 03, 2025 (GLOBE NEWSWIRE) — James River Group Holdings, Ltd. (“James River” or the “Company”) (NASDAQ: JRVR) today reported the following results for the fourth quarter 2024 as compared to the same period in 2023:

	Three Months Ended December 31,						Three Months Ended December 31,
*($ in thousands, except for share data)*		2024		per diluted share				2023		per diluted share
Net (loss) income from continuing operations available to common shareholders	$	(92,669	)	$	(2.25	)	$	17,431		$	0.46
Net loss from discontinued operations¹		(1,372	)	$	(0.03	)		(170,211	)	$	(3.89	)
Net loss available to common shareholders		(94,041	)	$	(2.28	)		(152,780	)	$	(3.43	)
Adjusted net operating (loss) income²		(40,803	)	$	(0.99	)		12,442		$	0.33

Net loss from continuing operations available to common shareholders was $92.7 million ($2.25 per diluted share). Adjusted net operating loss² was $40.8 million ($0.99 per diluted share) for the fourth quarter of 2024. The decrease to both was largely attributable to the previously announced $52.8 million of consideration paid in connection with the Excess and Surplus Lines (“E&S”) adverse development reinsurance contract with Cavello Bay Reinsurance Limited, a subsidiary of Enstar Group Limited (“Enstar”) (“E&S Top Up ADC”) that closed on December 23, 2024. Net loss from continuing operations available to common shareholders was also negatively impacted by the $27 million deemed dividend resulting from the November 2024 amendment to the Series A Preferred Shares.

Unless specified otherwise, all underwriting performance ratios presented herein are for our continuing operations and business not subject to retroactive reinsurance accounting for loss portfolio transfers (“LPTs”).

Highlights for 2024 included:

During the year we completed several strategic actions including (i) closing the sale of JRG Reinsurance Company Ltd. (“JRG Re”) to focus our business around our U.S. insurance businesses, (ii) entering into a $160.0 million combined loss portfolio transfer and adverse development cover for our E&S business (the “E&S ADC”), (iii) initiating a new strategic partnership with Enstar which, in part, entailed a $12.5 million equity investment in the Company and an additional $75.0 million E&S Top Up ADC, and (iv) amending the Certificate of Designations for our Series A Preferred Shares to, among other things, convert $37.5 million of the outstanding Series A Preferred Shares to common shares (see Amendment of Series A Preferred Shares on page 5). We believe these and other actions meaningfully strengthen our balance sheet and position us to generate attractive returns in the future.
E&S segment gross written premium exceeded $1.0 billion for a second consecutive year, a slight increase compared to the prior year as the Company continued to focus on its leading, wholesale driven franchise. The Company had its highest levels of both new and renewal annual submission growth in five years, and positive renewal rate change of 9.0% for 2024, as compared to 9.3% for 2023.
Full year 2024 net investment income increased 10.8% compared to 2023, with a majority of asset classes reporting higher income.
Specialty Admitted Insurance segment combined ratio was 92.2% for 2024 as compared to 95.9% for 2023. Underwriting profit grew 68.6% compared to the prior year.
Shareholders’ equity per share of $10.10 decreased sequentially from $14.02 at September 30, 2024, due to the net loss from continuing operations and increase in the common shares outstanding.
The Company does not expect any meaningful losses associated with the tragic series of California wildfires.

Frank D’Orazio, the Company’s Chief Executive Officer, commented, “2024 was a costly but transformational year for James River. We have meaningfully de-risked the organization and concluded an extensive strategic review, emerging with a renewed focus. The E&S market remains very healthy, and we believe that 2025 will provide significant opportunities to responsibly grow while taking advantage of the attractive rate environment.”

Fourth Quarter 2024 Operating Results

Gross written premium of $358.3 million, consisting of the following:

	Three Months Ended December 31,
*($ in thousands)*		2024		2023	*% Change*
Excess and Surplus Lines	$	280,287	$	275,171	2	%
Specialty Admitted Insurance		78,005		114,134	(32	)%
	$	358,292	$	389,305	(8	)%

Net written premium of $114.0 million, consisting of the following:

	Three Months Ended December 31,
*($ in thousands)*		2024		2023	*% Change*
Excess and Surplus Lines	$	99,684	$	146,628	(32	)%
Specialty Admitted Insurance		14,307		25,573	(44	)%
	$	113,991	$	172,201	(34	)%

Net earned premium of $105.6 million, consisting of the following:

	Three Months Ended December 31,
*($ in thousands)*		2024		2023	*% Change*
Excess and Surplus Lines	$	87,275	$	153,926	(43	)%
Specialty Admitted Insurance		18,311		28,027	(35	)%
	$	105,586	$	181,953	(42	)%

Lower net retention for the E&S segment reflects the $52.8 million of ceded premium recorded upon closing the E&S Top Up ADC as well as reinstatement premium which reduced net written premiums in the fourth quarter of 2024 compared to the prior year quarter.

E&S Segment Fourth Quarter Highlights:
- The E&S segment grew gross written premium by 1.9% compared to the prior year quarter. Excluding excess casualty, where we have been cautious, the segment grew by 11.2%.
- Total submissions grew 9% compared to the prior year quarter. The E&S segment received over 80,000 new and renewal policy submissions for the fourth consecutive quarter, its third consecutive quarter of 9% submission growth, a level not seen since 2020.
Specialty Admitted Insurance Segment Fourth Quarter Highlights:
- Gross written premium for the fronting and program business declined 11.1% compared to the prior year quarter, excluding the impact of our large workers’ compensation program and Individual Risk Workers’ Compensation book, which were non-renewed in the second quarter of 2023 and sold via a renewal rights transaction in the third quarter of 2023, respectively. Including these two programs, segment gross written premium declined 31.7%.
Pre-tax favorable (unfavorable) reserve development by segment on business not subject to retroactive reinsurance accounting was as follows:

	Three Months Ended December 31,
*($ in thousands)*		2024			2023
Excess and Surplus Lines	$	(8,943	)	$	(25,005	)
Specialty Admitted Insurance		—			(38	)
	$	(8,943	)	$	(25,043	)

The fourth quarter of 2024 reflected $8.9 million of net unfavorable reserve development in the E&S segment. The Company ceded $29.5 million of unfavorable reserve development on business subject to the E&S ADC during the fourth quarter of 2024 and the majority of the $8.9 million of net unfavorable development represents the retained loss corridor on that structure. There remains $116.2 million of aggregate limit on the E&S ADC and E&S Top-Up ADC which cover the overwhelming majority of all E&S reserves from 2010-2023.
Retroactive benefits of $2.7 million were recorded in loss and loss adjustment expenses during the fourth quarter and the total deferred retroactive reinsurance gain on the Balance Sheet is $58.0 million as of December 31, 2024.
Gross fee income was as follows:

	Three Months Ended December 31,
*($ in thousands)*		2024		2023	*% Change*
Specialty Admitted Insurance	$	4,828	$	5,874	(18)%

The consolidated expense ratio was 43.7% for the fourth quarter of 2024, which was an increase from 24.2% in the prior year quarter. The expense ratio increase was primarily the result of $52.8 million of consideration paid in connection with the E&S Top Up ADC that closed on December 23, 2024, which resulted in lower net earned premium.

Investment Results

Net investment income for the fourth quarter of 2024 was $22.0 million, a decrease of 14.2% compared to $25.6 million in the prior year quarter. The decline in income was primarily due to a lower asset base across our fixed income and bank loan portfolios as we managed the portfolio for the payment of the $52.8 million of consideration paid in connection with the E&S Top Up ADC, as well as lower income from private investments, which in the prior year quarter benefited from a one-time payment of approximately $2.5 million related to the sale of certain investments.

The Company’s net investment income consisted of the following:

	Three Months Ended December 31,
*($ in thousands)*		2024		2023	*% Change*
Private Investments		1,334		3,199	(58)%
All Other Investments		20,628		22,389	(8)%
Total Net Investment Income	$	21,962	$	25,588	(14)%

The Company’s annualized gross investment yield on average fixed maturity, bank loan and equity securities for the three months ended December 31, 2024 was 4.7% (versus 4.8% for the three months ended December 31, 2023).

Net realized and unrealized losses on investments of $2.8 million for the three months ended December 31, 2024 compared to net realized and unrealized gains on investments of $8.0 million in the prior year quarter.

Capital Management

The Company announced that its Board of Directors declared a cash dividend of $0.01 per common share. This dividend is payable on March 31, 2025 to all shareholders of record on March 10, 2025.

Amendment of Series A Preferred Shares

As previously disclosed, on November 11, 2024, the Company amended the Series A Preferred Shares. Among other amended terms, this amendment converted $37.5 million of the outstanding Series A Preferred Shares to common shares. The Company accounted for the amendment as an extinguishment due to the significance of qualitative and quantitative changes to the shares.

The Company estimated the fair value of the new Series A Preferred Shares to be $133.1 million on the date of issuance. The Company recorded a deemed dividend of $25.7 million within retained deficit for the difference between the $144.9 million carrying value of the extinguished pre-amendment Series A preferred shares and the combined $133.1 million estimated fair value of the new Series A Preferred Shares and $37.5 million of new common shares. The Company also recorded a deemed dividend of $1.3 million for the difference between the $37.5 million of Series A Preferred Shares converted to common shares in the amendment and the $38.8 million fair value of the common shares issued. The combined $27 million deemed dividend increased the Net Loss to Common Shareholders and reduced tangible common equity for the fourth quarter of 2024 by approximately $0.60 per share.

Tangible Equity

Shareholders’ equity of $460.9 million at December 31, 2024 declined 13.1% compared to shareholders’ equity of $530.3 million at September 30, 2024. Tangible equity³ of $437.7 million at December 31, 2024 decreased 11.0% compared to tangible equity of $491.9 million at September 30, 2024, due to losses from continuing and discontinued operations as well as an increase in unrealized investment losses in accumulated other comprehensive income (“AOCI”). Other comprehensive loss was $27.2 million during the fourth quarter of 2024, due to a decrease in the value of the Company’s fixed maturity securities.

Board of Directors

The Company also announced that Non-Executive Chairman Ollie L. Sherman Jr. has chosen to retire from his leadership role and that the Board has appointed Christine LaSala as its next Non-Executive Chairperson. Following a period of transition, Mr. Sherman will also retire from the Board on April 30, 2025.

Mr. Sherman has served on the Board of Directors since May 2016 and had previously retired as a Managing Principal with Towers Watson in 2010. Ms. LaSala joined the Board of Directors in July 2024. She has over 45 years of management, client leadership and financial experience in the insurance industry in underwriting and insurance broking roles. She currently serves as a director of Sedgwick, a leading provider of claims management, loss adjusting and technology-enabled risk, benefit and business solutions. She served as a director of Beazley plc for eight years, including in a variety of board leadership roles such as Interim Chair, prior to stepping down in April 2024.

Conference Call

James River will hold a conference call to discuss its fourth quarter results tomorrow, March 4, 2025 at 8:30 a.m. Eastern Time. Investors may access the conference call by dialing (800)-715-9871, Conference ID 6424000, or via the internet by visiting www.jrvrgroup.com and clicking on the “Investor Relations” link. A webcast replay of the call will be available by visiting the company website.

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. In some cases, such forward-looking statements may be identified by terms such as believe, expect, seek, may, will, should, intend, project, anticipate, plan, estimate, guidance or similar words. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Although it is not possible to identify all of these risks and uncertainties, they include, among others, the following: the inherent uncertainty of estimating reserves and the possibility that incurred losses may be greater than our loss and loss adjustment expense reserves; inaccurate estimates and judgments in our risk management may expose us to greater risks than intended; downgrades in the financial strength rating or outlook of our regulated insurance subsidiaries impacting our ability to attract and retain insurance business that our subsidiaries write, our competitive position, and our financial condition; the amount of the final post-closing adjustment to the purchase price received in connection with the sale of our casualty reinsurance business and outcome of litigation relating to such transaction; the potential loss of key members of our management team or key employees and our ability to attract and retain personnel; adverse economic factors resulting in the sale of fewer policies than expected or an increase in the frequency or severity of claims, or both; the impact of a higher than expected inflationary environment on our reserves, loss adjustment expenses, the values of our investments and investment returns, and our compensation expenses; exposure to credit risk, interest rate risk and other market risk in our investment portfolio; reliance on a select group of brokers and agents for a significant portion of our business and the impact of our potential failure to maintain such relationships; reliance on a select group of customers for a significant portion of our business and the impact of our potential failure to maintain, or decision to terminate, such relationships; our ability to obtain insurance and reinsurance coverage at prices and on terms that allow us to transfer risk, adequately protect our company against financial loss and that supports our growth plans; losses resulting from reinsurance counterparties failing to pay us on reinsurance claims, insurance companies with whom we have a fronting arrangement failing to pay us for claims, or a former customer with whom we have an indemnification arrangement failing to perform its reimbursement obligations, and our potential inability to demand or maintain adequate collateral to mitigate such risks; inadequacy of premiums we charge to compensate us for our losses incurred; changes in laws or government regulation, including tax or insurance law and regulations; changes in U.S. tax laws (including associated regulations) and the interpretation of certain provisions applicable to insurance/reinsurance businesses with U.S. and non-U.S. operations, which may be retroactive and could have a significant effect on us including, among other things, by potentially increasing our tax rate, as well as on our shareholders; in the event we did not qualify for the insurance company exception to the passive foreign investment company (“PFIC”) rules and were therefore considered a PFIC, there could be material adverse tax consequences to an investor that is subject to U.S. federal income taxation; the Company or its foreign subsidiary becoming subject to U.S. federal income taxation; a failure of any of the loss limitations or exclusions we utilize to shield us from unanticipated financial losses or legal exposures, or other liabilities; losses from catastrophic events, such as natural disasters and terrorist acts, which substantially exceed our expectations and/or exceed the amount of reinsurance we have purchased to protect us from such events; potential effects on our business of emerging claim and coverage issues; the potential impact of internal or external fraud, operational errors, systems malfunctions or cyber security incidents; our ability to manage our growth effectively; failure to maintain effective internal controls in accordance with the Sarbanes-Oxley Act of 2002, as amended; changes in our financial condition, regulations or other factors that may restrict our subsidiaries’ ability to pay us dividends; and an adverse result in any litigation or legal proceedings we are or may become subject to. Additional information about these risks and uncertainties, as well as others that may cause actual results to differ materially from those in the forward-looking statements, is contained in our filings with the U.S. Securities and Exchange Commission (“SEC”), including our most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q. These forward-looking statements speak only as of the date of this release and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

Non-GAAP Financial Measures

In presenting James River Group Holdings, Ltd.’s results, management has included financial measures that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States (“GAAP”). Such measures, including underwriting (loss) profit, adjusted net operating (loss) income, tangible equity, tangible common equity, adjusted net operating return on tangible equity (which is calculated as annualized adjusted net operating income divided by the average quarterly tangible equity balances in the respective period), and adjusted net operating return on tangible common equity excluding AOCI (which is calculated as annualized adjusted net operating income divided by the average quarterly tangible common equity balances in the respective period, excluding AOCI), are referred to as non-GAAP measures. These non-GAAP measures may be defined or calculated differently by other companies. These measures should not be viewed as a substitute for those measures determined in accordance with GAAP. Reconciliations of such measures to the most comparable GAAP figures are included at the end of this press release.

About James River Group Holdings, Ltd.

James River Group Holdings, Ltd. is a Bermuda-based insurance holding company that owns and operates a group of specialty insurance companies. The Company operates in two specialty property-casualty insurance segments: Excess and Surplus Lines and Specialty Admitted Insurance. Each of the Company’s regulated insurance subsidiaries are rated “A-” (Excellent) by A.M. Best Company.

Visit James River Group Holdings, Ltd. on the web at www.jrvrgroup.com

For more information contact:

Zachary Shytle
Senior Analyst, Investments and Investor Relations
980-249-6848
InvestorRelations@james-river-group.com

James River Group Holdings, Ltd. and Subsidiaries Condensed Consolidated Balance Sheet Data (Unaudited)
*($ in thousands, except for share data)*	December 31, 2024		December 31, 2023
ASSETS
Invested assets:
Fixed maturity securities, available-for-sale, at fair value	$	1,189,733	$	1,324,476
Equity securities, at fair value		86,479		119,945
Bank loan participations, at fair value		142,410		156,169
Short-term investments		97,074		72,137
Other invested assets		36,700		33,134
Total invested assets		1,552,396		1,705,861

Cash and cash equivalents		362,345		274,298
Restricted cash equivalents (a)		28,705		72,449
Accrued investment income		10,534		12,106
Premiums receivable and agents’ balances, net		243,882		249,490
Reinsurance recoverable on unpaid losses, net		1,996,913		1,358,474
Reinsurance recoverable on paid losses		101,210		157,991
Deferred policy acquisition costs		30,175		31,497
Goodwill and intangible assets		214,281		214,644
Other assets		466,635		457,047
Assets of discontinued operations held-for-sale		0		783,393
Total assets	$	5,007,076	$	5,317,250

LIABILITIES AND SHAREHOLDERS’ EQUITY
Reserve for losses and loss adjustment expenses	$	3,084,406	$	2,606,107
Unearned premiums		572,034		587,899
Funds held (a)		25,157		65,235
Deferred reinsurance gain		57,970		20,733
Senior debt		200,800		222,300
Junior subordinated debt		104,055		104,055
Accrued expenses		53,178		56,722
Other liabilities		315,446		333,183
Liabilities of discontinued operations held-for-sale		0		641,497
Total liabilities		4,413,046		4,637,731

Series A redeemable preferred shares		133,115		144,898
Total shareholders’ equity		460,915		534,621
Total liabilities, Series A redeemable preferred shares, and shareholders’ equity	$	5,007,076	$	5,317,250

Tangible equity (b)	$	437,719	$	485,608
Tangible equity per share (b)	$	7.40	$	11.13
Tangible common equity per share (b)	$	6.67	$	9.05
Shareholders’ equity per share	$	10.10	$	14.20
Common shares outstanding		45,644,318		37,641,563

(a) Restricted cash equivalents and the funds held liability includes funds posted by the Company to a trust account for the benefit of a third party administrator handling the claims on the Rasier commercial auto policies in run-off. Such funds held in trust secure the Company’s obligations to reimburse the administrator for claims payments, and are primarily sourced from the collateral posted to the Company by Rasier and its affiliates to support their obligations under the indemnity agreements and the loss portfolio transfer reinsurance agreement with the Company.
(b) See “Reconciliation of Non-GAAP Measures”

James River Group Holdings, Ltd. and Subsidiaries Condensed Consolidated Income Statement Data (Unaudited)

	Three Months Ended December 31,						Twelve Months Ended December 31,
*($ in thousands, except for share data)*		2024			2023			2024			2023
REVENUES
Gross written premiums	$	358,292		$	389,305		$	1,431,772		$	1,508,660
Net written premiums		113,991			172,201			580,854			693,901

Net earned premiums		105,586			181,953			600,196			708,005
Net investment income		21,962			25,588			93,089			84,046
Net realized and unrealized gains (losses) on investments		(2,803	)		7,954			3,625			10,441
Other income		1,968			2,609			10,716			9,517
Total revenues		126,713			218,104			707,626			812,009
EXPENSES
Losses and loss adjustment expenses (a)		144,560			133,162			554,374			500,157
Other operating expenses		47,068			45,734			193,198			193,656
Other expenses		1,563			2,325			6,145			3,792
Interest expense		5,709			6,561			24,666			24,627
Intangible asset amortization and impairment		91			91			363			2,863
Total expenses		198,991			187,873			778,746			725,095
(Loss) income from continuing operations before income taxes		(72,278	)		30,231			(71,120	)		86,914
Income tax (benefit) expense on continuing operations		(8,883	)		10,175			(7,634	)		25,705
Net (loss) income from continuing operations		(63,395	)		20,056			(63,486	)		61,209
Net loss from discontinued operations		(1,372	)		(170,211	)		(17,634	)		(168,893	)
NET LOSS	$	(64,767	)	$	(150,155	)	$	(81,120	)	$	(107,684	)
Dividends on Series A preferred shares		(29,274	)		(2,625	)		(37,149	)		(10,500	)
NET LOSS AVAILABLE TO COMMON SHAREHOLDERS	$	(94,041	)	$	(152,780	)	$	(118,269	)	$	(118,184	)
ADJUSTED NET OPERATING (LOSS) INCOME (b)	$	(40,803	)	$	12,442		$	(41,503	)	$	50,317

(LOSS) INCOME PER COMMON SHARE
Basic
Continuing operations	$	(2.25	)	$	0.46		$	(2.60	)	$	1.35
Discontinued operations	$	(0.03	)	$	(4.52	)	$	(0.46	)	$	(4.49	)
	$	(2.28	)	$	(4.06	)	$	(3.06	)	$	(3.14	)
Diluted (c)
Continuing operations	$	(2.25	)	$	0.46		$	(2.60	)	$	1.34
Discontinued operations	$	(0.03	)	$	(3.89	)	$	(0.46	)	$	(4.47	)
	$	(2.28	)	$	(3.43	)	$	(3.06	)	$	(3.13	)

ADJUSTED NET OPERATING (LOSS) INCOME PER COMMON SHARE
Basic	$	(0.99	)	$	0.33		$	(1.07	)	$	1.34
Diluted (d)	$	(0.99	)	$	0.33		$	(1.07	)	$	1.33

Weighted-average common shares outstanding:
Basic		41,237,480			37,656,268			38,685,003			37,618,660
Diluted		41,237,480			43,744,208			38,685,003			37,810,440
Cash dividends declared per common share	$	0.01		$	0.05		$	0.16		$	0.20

Ratios:
Loss ratio		111.4	%		73.9	%		86.2	%		69.9	%
Expense ratio (e)		43.7	%		24.2	%		31.4	%		26.6	%
Combined ratio		155.1	%		98.1	%		117.6	%		96.5	%
Accident year loss ratio (f)		65.6	%		58.8	%		66.2	%		64.0	%



(a) Losses and loss adjustment expenses include $27.0 million and $37.2 million of expense for deferred retroactive reinsurance gains for the three and twelve months ended December 31, 2024, respectively ($1.3 million of benefit and $5.0 million of expense in the respective three and twelve month prior year periods).
(b) See “Reconciliation of Non-GAAP Measures”.
(c) The outstanding Series A preferred shares were dilutive for the three months ended December 31, 2023. Dividends on the Series A preferred shares were added back to the numerator in the calculation and 5,971,184 common shares from an assumed conversion of the Series A preferred shares were included in the denominator.
(d) The outstanding Series A preferred shares were anti-dilutive for the three months ended December 31, 2023. Dividends on the Series A preferred shares were not added back to the numerator in the calculation and 5,971,184 common shares from an assumed conversion of the Series A preferred shares were excluded from the denominator.
(e) Calculated with a numerator comprising other operating expenses less gross fee income (in specific instances when the Company is not retaining insurance risk) included in “Other income” in our Condensed Consolidated Income Statements of $926,000 and $4.6 million for the three and twelve months ended months ended December 31, 2024, respectively ($1.7 million and $5.3 million in the respective prior year periods), and a denominator of net earned premiums.
(f) Ratio of losses and loss adjustment expenses for the current accident year, excluding development on prior accident year reserves, to net earned premiums for the current year (excluding ceded earned premium associated with adverse development covers covering prior accident years and net earned premium adjustments on certain reinsurance treaties with reinstatement premiums associated with prior years).

James River Group Holdings, Ltd. and Subsidiaries Segment Results
EXCESS AND SURPLUS LINES
	Three Months Ended December 31,								Twelve Months Ended December 31,
*($ in thousands)*		2024			2023		% Change			2024			2023		% Change
Gross written premiums	$	280,287		$	275,171		1.9	%	$	1,017,029		$	1,007,351		1.0	%
Net written premiums	$	99,684		$	146,628		(32.0	)%	$	508,445		$	589,551		(13.8	)%

Net earned premiums	$	87,275		$	153,926		(43.3	)%	$	512,237		$	609,566		(16.0	)%
Losses and loss adjustment expenses excluding retroactive reinsurance		(103,327	)		(112,680	)	(8.3	)%		(448,714	)		(420,044	)	6.8	%
Underwriting expenses		(36,166	)		(32,348	)	11.8	%		(140,978	)		(135,175	)	4.3	%
Underwriting (loss) profit (a)	$	(52,218	)	$	8,898		—		$	(77,455	)	$	54,347		—

Ratios:
Loss ratio		118.4	%		73.2	%				87.6	%		68.9	%
Expense ratio		41.4	%		21.0	%				27.5	%		22.2	%
Combined ratio		159.8	%		94.2	%				115.1	%		91.1	%
Accident year loss ratio (b)		64.1	%		55.5	%				64.3	%		61.9	%

(a) See “Reconciliation of Non-GAAP Measures”.
(b) Ratio of losses and loss adjustment expenses for the current accident year, excluding development on prior accident year reserves, to net earned premiums for the current year (excluding ceded earned premium associated with adverse development covers covering prior accident years and net earned premium adjustments on certain reinsurance treaties with reinstatement premiums associated with prior years).

SPECIALTY ADMITTED INSURANCE

	Three Months Ended December 31,								Twelve Months Ended December 31,
*($ in thousands)*		2024			2023		% Change			2024			2023		% Change
Gross written premiums	$	78,005		$	114,134		(31.7	)%	$	414,743		$	501,309		(17.3	)%
Net written premiums	$	14,307		$	25,573		(44.1	)%	$	72,409		$	104,350		(30.6	)%

Net earned premiums	$	18,311		$	28,027		(34.7	)%	$	87,959		$	98,439		(10.6	)%
Losses and loss adjustment expenses		(14,264	)		(21,752	)	(34.4	)%		(68,423	)		(75,122	)	(8.9	)%
Underwriting expenses		(3,186	)		(4,080	)	(21.9	)%		(12,663	)		(19,240	)	(34.2	)%
Underwriting profit (a), (b)	$	861		$	2,195		(60.8	)%	$	6,873		$	4,077		68.6	%

Ratios:
Loss ratio		77.9	%		77.6	%				77.8	%		76.3	%
Expense ratio		17.4	%		14.6	%				14.4	%		19.6	%
Combined ratio		95.3	%		92.2	%				92.2	%		95.9	%
Accident year loss ratio		77.9	%		77.5	%				78.5	%		77.3	%

(a) See “Reconciliation of Non-GAAP Measures”.
(b) Underwriting results for the three and twelve months ended December 31, 2024 include gross fee income of $4.8 million and $21.0 million, respectively ($5.9 million and $24.2 million in the respective prior year periods).

Underwriting Performance Ratios

The following table provides the underwriting performance ratios of the Company’s continuing operations inclusive of the business subject to retroactive reinsurance accounting. There is no economic impact to the Company over the life of a loss portfolio transfer contract so long as any additional losses subject to the contract are within the limit of the loss portfolio transfer and the counterparty performs under the contract. Retroactive reinsurance accounting is not indicative of our current and ongoing operations. Management believes that providing loss ratios and combined ratios on business not subject to retroactive reinsurance accounting for loss portfolio transfers gives the users of our financial statements useful information in evaluating our current and ongoing operations.

	Three Months Ended December 31,				Twelve Months Ended December 31,
	2024		2023		2024		2023
Excess and Surplus Lines:
Loss Ratio	118.4	%	73.2	%	87.6	%	68.9	%
Impact of retroactive reinsurance	30.9	%	(0.8	)%	7.3	%	0.8	%
Loss Ratio including impact of retroactive reinsurance	149.3	%	72.4	%	94.9	%	69.7	%

Combined Ratio	159.8	%	94.2	%	115.1	%	91.1	%
Impact of retroactive reinsurance	30.9	%	(0.8	)%	7.3	%	0.8	%
Combined Ratio including impact of retroactive reinsurance	190.7	%	93.4	%	122.4	%	91.9	%

Consolidated:
Loss Ratio	111.4	%	73.9	%	86.2	%	69.9	%
Impact of retroactive reinsurance	25.5	%	(0.7	)%	6.2	%	0.7	%
Loss Ratio including impact of retroactive reinsurance	136.9	%	73.2	%	92.4	%	70.6	%

Combined Ratio	155.1	%	98.1	%	117.6	%	96.5	%
Impact of retroactive reinsurance	25.5	%	(0.7	)%	6.2	%	0.7	%
Combined Ratio including impact of retroactive reinsurance	180.6	%	97.4	%	123.8	%	97.2	%

RECONCILIATION OF NON-GAAP MEASURES

Underwriting Profit

The following table reconciles the underwriting profit by individual operating segment and for the entire Company to consolidated income from continuing operations before taxes. We believe that the disclosure of underwriting profit by individual segment and of the Company as a whole is useful to investors, analysts, rating agencies and other users of our financial information in evaluating our performance because our objective is to consistently earn underwriting profits. We evaluate the performance of our segments and allocate resources based primarily on underwriting profit. We define underwriting profit as net earned premiums and gross fee income (in specific instances when the Company is not retaining insurance risk) less losses and loss adjustment expenses on business from continuing operations not subject to retroactive reinsurance accounting and other operating expenses. Other operating expenses include the underwriting, acquisition, and insurance expenses of the operating segments and, for consolidated underwriting profit, the expenses of the Corporate and Other segment. Our definition of underwriting profit may not be comparable to that of other companies.

	Three Months Ended December 31,						Twelve Months Ended December 31,
*($ in thousands)*		2024			2023			2024			2023
Underwriting (loss) profit of the operating segments:
Excess and Surplus Lines	$	(52,218	)	$	8,898		$	(77,455	)	$	54,347
Specialty Admitted Insurance		861			2,195			6,873			4,077
Total underwriting (loss) profit of operating segments		(51,357	)		11,093			(70,582	)		58,424
Other operating expenses of the Corporate and Other segment		(6,790	)		(7,628	)		(34,972	)		(33,940	)
Underwriting (loss) profit (a)		(58,147	)		3,465			(105,554	)		24,484
Losses and loss adjustment expenses – retroactive reinsurance		(26,969	)		1,270			(37,237	)		(4,991	)
Net investment income		21,962			25,588			93,089			84,046
Net realized and unrealized (losses) gains on investments		(2,803	)		7,954			3,625			10,441
Other income (expense)		(521	)		(1,394	)		(14	)		424
Interest expense		(5,709	)		(6,561	)		(24,666	)		(24,627	)
Amortization of intangible assets		(91	)		(91	)		(363	)		(363	)
Impairment of IRWC trademark intangible asset		—			—			—			(2,500	)
(Loss) income from continuing operations before taxes	$	(72,278	)	$	30,231		$	(71,120	)	$	86,914

(a) Included in underwriting results for the three and twelve months ended December 31, 2024 is gross fee income of $4.8 million and $21.0 million, respectively ($5.9 million and $24.2 million in the respective prior year periods).

Adjusted Net Operating Income

We define adjusted net operating (loss) income as income available to common shareholders excluding a) (loss) income from discontinued operations b) the impact of retroactive reinsurance accounting for loss portfolio transfers, c) net realized and unrealized gains (losses) on investments, d) certain non-operating expenses such as professional service fees related to various strategic initiatives, and the filing of registration statements for the offering of securities, e) severance costs associated with terminated employees, and f) deemed dividend related to the conversion of the Series A Preferred Shares. We use adjusted net operating income as an internal performance measure in the management of our operations because we believe it gives our management and other users of our financial information useful insight into our results of operations and our underlying business performance. Adjusted net operating income should not be viewed as a substitute for net income calculated in accordance with GAAP, and our definition of adjusted net operating income may not be comparable to that of other companies.

Our (loss) income available to common shareholders reconciles to our adjusted net operating (loss) income as follows:

	Three Months Ended December 31,
		2024						2023
*($ in thousands)*	Income Before Taxes			Net Income			Income Before Taxes			Net Income
Loss available to common shareholders	$	(102,924	)	$	(94,041	)	$	(142,605	)	$	(152,780	)
Loss from discontinued operations		1,372			1,372			170,211			170,211
Losses and loss adjustment expenses – retroactive reinsurance		26,969			21,306			(1,270	)		(1,003	)
Net realized and unrealized investment losses (gains)		2,803			2,214			(7,954	)		(6,284	)
Other expenses		1,563			1,340			2,321			2,298
Series A deemed dividends		27,006			27,006			—			—
Adjusted net operating (loss) income	$	(43,211	)	$	(40,803	)	$	20,703		$	12,442

	Twelve Months Ended December 31,
		2024						2023
*($ in thousands)*	Income Before Taxes			Net Income			Income Before Taxes			Net Income
Loss available to common shareholders	$	(125,903	)	$	(118,269	)	$	(92,479	)	$	(118,184	)
Loss from discontinued operations		17,634			17,634			168,893			168,893
Losses and loss adjustment expenses – retroactive reinsurance		37,237			29,418			4,991			3,943
Net realized and unrealized investment gains		(3,625	)		(2,865	)		(10,441	)		(8,248	)
Other expenses		6,145			5,573			1,588			1,938
Impairment of IRWC trademark intangible asset		—			—			2,500			1,975
Series A deemed dividends		27,006			27,006			—			—
Adjusted net operating (loss) income	$	(41,506	)	$	(41,503	)	$	75,052		$	50,317

Tangible Equity (per Share) and Tangible Common Equity (per Share)

We define tangible equity as shareholders’ equity plus mezzanine Series A preferred shares and the deferred retroactive reinsurance gain less goodwill and intangible assets (net of amortization). We define tangible common equity as tangible equity less mezzanine Series A preferred shares. Our definition of tangible equity and tangible common equity may not be comparable to that of other companies, and it should not be viewed as a substitute for shareholders’ equity calculated in accordance with GAAP. We use tangible equity and tangible common equity internally to evaluate the strength of our balance sheet and to compare returns relative to this measure. The following table reconciles shareholders’ equity to tangible equity and tangible common equity for December 31, 2024, September 30, 2024, December 31, 2023, and September 30, 2023.

	December 31, 2024		September 30, 2024		December 31, 2023		September 30, 2023
*($ in thousands, except for share data)*
Shareholders’ equity	$	460,915	$	530,347	$	534,621	$	562,544
Plus: Series A redeemable preferred shares		133,115		144,898		144,898		144,898
Plus: Deferred reinsurance gain (a)		57,970		31,001		20,733		37,653
Less: Goodwill and intangible assets		214,281		214,372		214,644		214,735
Tangible equity	$	437,719	$	491,874	$	485,608	$	530,360
Less: Series A redeemable preferred shares		133,115		144,898		144,898		144,898
Tangible common equity	$	304,604	$	346,976	$	340,710	$	385,462

Common shares outstanding		45,644,318		37,829,475		37,641,563		37,619,749
Common shares from assumed conversion of Series A preferred shares		13,521,635		6,848,763		5,971,184		5,640,158
Common shares outstanding after assumed conversion of Series A preferred shares		59,165,953		44,678,238		43,612,747		43,259,907

Equity per share:
Shareholders’ equity	$	10.10	$	14.02	$	14.20	$	14.95
Tangible equity	$	7.40	$	11.01	$	11.13	$	12.26
Tangible common equity	$	6.67	$	9.17	$	9.05	$	10.25

(a) Deferred reinsurance gain for the period ending September 30, 2023 includes the deferred retroactive reinsurance gain of $15.7 million related to the former Casualty Reinsurance LPT.

¹ The Company closed the sale of JRG Reinsurance Company Ltd. on April 16, 2024. The full financials for our former Casualty Reinsurance segment have been classified to discontinued operations for all periods.
² Adjusted net operating (loss) income, tangible common equity per share and adjusted net operating return on tangible common equity are non-GAAP financial measures. See “Non-GAAP Financial Measures” and “Reconciliation of Non-GAAP Financial Measures” at the end of this press release.

³ Tangible equity and tangible common equity are non-GAAP financial measures. See “Non-GAAP Financial Measures” and “Reconciliation of Non-GAAP Financial Measures” at the end of this press release.

The MIL Network –

March 4, 2025

MIL-OSI Canada: Investing in cardiac care for central Albertans
[. For those in central Alberta, the Red Deer Regional Hospital Centre plays a critical role in providing that care, which is why the $1.8-billion Red Deer Regional Hospital Centre redevelopment project includes two state-of-the-art cardiac catheterization labs.

While the project is expected to be completed by 2031, the government recognizes the urgent need for cardiac services for the 450,000 Albertans from Red Deer and surrounding rural communities. If passed, Budget 2025 will provide $3 million in startup funding and ongoing funding to cover the operational costs for an interim cardiac catheterization lab at the Red Deer Regional Hospital Centre.

“Every Albertan should have access to the health care services they need close to home. Albertans living in the Red Deer area have long advocated for a cardiac catheterization lab and I am pleased to support a project that we know will help save lives.”

Adriana LaGrange, Minister of Health

A cardiac catheterization lab is a dedicated space where specialized teams can carry out diagnostic tests that examine and evaluate heart function to aid in the diagnosis of cardiac health concerns and treatment of coronary artery disease. The lab will be equipped with specialized imaging equipment to allow for cardiac procedures primarily including ablation, angiogram and angioplasty.

The interim cardiac catheterization lab will be located within the existing Red Deer Regional Hospital Centre in a space currently being used as a physician’s lounge. Preliminary design plans are already in place and construction is expected to begin by fall 2025.

The Red Deer Regional Health Foundation has committed to funding the capital cost of the project, which is expected to be about $22 million.

In October 2024, the foundation announced the signing of a memorandum of understanding with Alberta Health Services to fast-track the opening of a cardiac catheterization lab at Red Deer Regional Hospital Centre.

“We are incredibly grateful for the generosity of the Donald and Lacey families, whose support is bringing life-saving cardiac care closer to home for the benefit of all central Albertans. Together with all our health care partners, their commitment to advancing health care will make a lasting impact on countless lives for years to come.”

Manon Therriault, chief executive officer, Red Deer Regional Health Foundation

The foundation’s work is made possible by the generosity of donors, supporters and champions across the region. To support the development of the interim cardiac catheterization lab, the foundation announced a $10-million donation from the John Donald family.

“I am pleased to support the development of cardiac services in central Alberta, something we’ve long advocated for. This initiative will provide essential care to our community and ensure that more lives are saved closer to home.”

John Donald, Red Deer Regional Health Foundation donor

By prioritizing the development of an interim cardiac catheterization lab, patients will have access to critical services about three years earlier than expected. The interim cardiac catheterization lab is expected to be operational in early 2027.

“Developing this lab will allow us to treat more cardiac patients closer to home and support them in their recovery. Enhancing our cardiac services will also support our efforts to recruit and retain the talented professionals needed to care for our region’s patients.”

Janice Stewart, chief zone officer, Alberta Health Services Central Zone

Being able to meet the needs of the province’s rapidly growing population is a top priority for Alberta’s government.

Quick facts
- The $1.8-billion Red Deer Regional Hospital Centre redevelopment project will upgrade several services throughout the hospital site, including:
  - an additional patient tower
  - six new operating rooms
  - a new medical device reprocessing department
  - two new cardiac catheterization labs
  - renovations to various areas within the main building
  - a newly renovated and expanded emergency department
  - a new ambulatory clinic building to be located adjacent to the surface parkade
Related information
- Red Deer Regional Health Foundation
Related news
- Red Deer hospital contractor selected (Aug. 15, 2024)
- Red Deer Hospital schematic designs unveiled (March 15, 2024)
- Red Deer hospital $1.8B expansion builds for the future (Feb. 22, 2022)
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- Watch the news conference
MIL OSI Canada News –
March 4, 2025
MIL-OSI New Zealand: Woman charged over child’s death

Source: New Zealand Police (District News)

A woman has been charged with manslaughter after a young girl died when she was struck by a vehicle in Hawke’s Bay earlier this year.

About 5.30pm on 25 January, Police were called to Chatham Road, Lochain, after a crash involving a car and a pedestrian.

The pedestrian, an 11-year-old girl, died at the scene.

An investigation has been carried out and in relation to the matter, a 34-year-old woman has now been charged with a number of offences, including manslaughter.

She is due to appear in Hastings District Court about 11.45am today, 4 March.

Other charges include breath alcohol level over 400, dangerous driving, and failing to stop to ascertain injury.

As the matter is now before the courts, Police are limited in what further comment can be provided.

ENDS

Issued by the Police Media Centre

MIL OSI New Zealand News –

March 4, 2025
MIL-OSI New Zealand: Driver charged over crash that killed passengers

Source: New Zealand Police (National News)

Police have charged a 20-year-old driver for allegedly causing the deaths of two of his passengers in January.

The crash on Butchers Road, Clarkville, on 11 January, killed a 20-year-old man and a 17-year-old woman, both of whom were in a vehicle being driven by the accused.

The car they were travelling in hit a concrete power pole with such force, the vehicle split in half. Both the victims were located deceased at the scene, while the driver sustained minor injuries.

Following an investigation into the cause of the crash, Police arrested the 20-year-old North Canterbury man on 26 February and charged him with two counts of causing death while under the influence of drugs. Police allege the driver was under the influence of a drug to such an extent that he was incapable of having proper control of the vehicle.

He is due to appear in the Christchurch District Court today, 4 March.

As the case is before the court, Police are unable to comment further.

ENDS

Issued by the Police Media Centre

MIL OSI New Zealand News –

March 4, 2025

Category: Transport

Marine Debris Program

Marine Debris Foundation

New Chief Executive appointed at MHRA

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