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Category: Vehicles

  • MIL-OSI New Zealand: Government backs Mangawhai tornado clean-up

    Source: New Zealand Government

    The Government has confirmed a $435,000 contribution from the Ministry for the Environment to support emergency waste clean-up after a recent tornado, say Environment Minister, Penny Simmonds and Emergency Management and Recovery Minister, Mark Mitchell.
    “The Government recognises the significant challenge councils face in managing emergency waste from severe weather events and is committed to providing the necessary support,” says Ms Simmonds.
    “This funding will assist the Kaipara District Council in managing the clean-up of emergency waste in Mangawhai and provide some relief to the community as they recover.” 
    On Sunday 26 January 2025, a tornado struck the coastal township of Mangawhai in Northland resulting in serious injuries to several people, extensive damage to properties, power outages, and roads blocked by storm debris.
    Following the event, Ministry for the Environment officials met with officials from both Kaipara District Council and the National Emergency Management Agency (NEMA) to identify, quantify and assess the costs associated with the tornado event.
    “Recovery is an ongoing process, and we recognise the Kaipara District Council is working hard to strengthen resilience and support recovery in their community,” says Mr Mitchell. 
    Ms Simmonds says Kaipara District Council acted quickly after the event to manage emergency waste responsibly.
    “This funding will substantially cover the council’s costs from the tornado’s immediate aftermath, as well as helping with the ongoing clean up. The council will provide a final report within three months of project completion to outline how the funding was used.”
    For further information visit: Recovering from recent severe weather events | Ministry for the Environment

    MIL OSI New Zealand News –

  • MIL-OSI USA: Peters Reintroduces Bipartisan Bill to Reduce U.S. Dependence on China and Other Adversaries for Critical Minerals

    US Senate News:

    Source: United States Senator for Michigan Gary Peters
    Published: 03.05.2025

    WASHINGTON, DC – U.S. Senator Gary Peters (MI), Ranking Member of the Homeland Security and Governmental Affairs Committee reintroduced bipartisan legislation to decrease the United States’ reliance on adversarial nations like China for critical minerals. China is currently the dominant supplier for more than half of America’s critical mineral imports. These minerals are essential for the manufacturing of electric vehicle batteries, military equipment, and other technology crucial to American economic competitiveness and homeland security. The Senators’ bill would address this threat to our manufacturing supply chains by creating an intergovernmental task force to find opportunities for increased domestic production and recycling of critical minerals. 
    “America’s economic and national security interests are at risk when we depend on foreign adversaries like China for materials that are vital to our manufacturing and defense industries,” said Senator Peters.“This task force will coordinate efforts across federal, state, and local governments to develop a unified approach to producing and recycling critical minerals here at home, creating American jobs while ensuring our manufacturers have reliable access to these important materials.”  
    The bipartisan Intergovernmental Critical Minerals Taskforce Act requires the President to create a task force and appoint representatives from federal agencies who must consult with state, local, and Tribal governments. The task force will work to determine how to address national security risks associated with America’s critical mineral supply chains and identify new domestic opportunities for mining, processing, refinement, reuse, and recycling of critical minerals. The legislation would also require the task force to publish a report to Congress and publish findings, guidelines, and recommendations to combat the United States’ reliance on China and other foreign nations for critical minerals. 
    The bill is endorsed by leaders from the Sierra Club, General Motors, Ford, and the American Automotive Policy Council.

    MIL OSI USA News –

  • MIL-OSI Canada: First Ministers’ statement on eliminating internal trade barriers in Canada

    Source: Government of Canada – Prime Minister

    “In the face of the United States’ unjustified decision to impose tariffs on Canadian goods, Canada’s First Ministers recognize this is a pivotal moment for Canada to take bold and united action. We must increase our economic resilience, reduce dependence on one market, and strengthen our domestic economy for the benefit of Canadian workers and businesses now and in the future. One key step is to make it easier for Canadians to do business with each other from coast to coast to coast.

    “At their meeting yesterday, the Prime Minister and Canada’s premiers agreed to build on the foundational work of the Committee on Internal Trade and strengthen Canada’s domestic economy by reducing barriers to internal trade and labour mobility across the country. All First Ministers agreed that now is the time to take meaningful action to further liberalize and support the Canadian market so that goods, services, and workers can move freely.

    “First Ministers agreed that certified professionals with credentials in one jurisdiction should be able to work anywhere in Canada. Whether relocating for family reasons or pursuing job opportunities elsewhere, workers should be free to do what they are trained to do and contribute to the Canadian economy. Due to its linguistic specificity among other things, Quebec, while adhering to the overall goal of increasing workforce mobility, intends to implement measures for credentials recognition when it deems it in line with its own objectives.

    “The Prime Minister and premiers directed the Committee on Internal Trade to work with the Forum of Labour Market Ministers, to develop a service standard of 30 days or better to get people working faster, and provide a plan for Canada-wide credential recognition, while taking into account jurisdictional specificities such as language provisions, by June 1.

    “First Ministers also agreed that now is the time to choose Canada. We must ensure that all Canadians have access to Canadian-made goods, no matter where they are in the country. The Prime Minister and premiers applauded Internal Trade Ministers for undertaking a review of exceptions under the Canadian Free Trade Agreement by June 1 in addition to those removed by governments in recent years, and for their efforts to reconcile and reduce regulatory differences between jurisdictions, particularly through the negotiation of mutual recognition requirements in the trucking sector and the movement of consumer goods. Most First Ministers also committed to allowing direct-to-consumer alcohol sales for Canadian products. These efforts will benefit Canadian businesses and citizens by opening new domestic markets, reducing the cost of consumer goods at a time when U.S. tariffs will impact affordability.

    “First Ministers recognized that removing these barriers will make it easier for businesses in Canada to access new revenue and market opportunities here at home, while attracting greater foreign investment and trade.

    “The Prime Minister and the premiers agreed to continue working together as they implement the shared plan to strengthen internal trade in Canada. Team Canada stands firm, united, resolute, and ready to face this challenge, and any others that come our way.”

    Quick Facts

    • Last year, more than $530 billion worth of goods and services moved across provincial and territorial borders, representing almost 20 per cent of Canada’s gross domestic product.
    • Trade within Canada is an essential driver of the Canadian economy, and eliminating barriers to internal trade will lower prices, increase productivity, and add up to $200 billion to the Canadian economy. Internal trade without barriers means more affordable everyday items and a greater choice for Canadians.
    • The Canadian Free Trade Agreement (CFTA) came into force on July 1, 2017, to reduce and eliminate barriers to the free movement of persons, goods, services, and investments within Canada and to establish an open, efficient, and stable domestic market.
    • The Committee on Internal Trade (CIT) consists of all federal, provincial, and territorial ministers responsible for internal trade, and is responsible for supervising the implementation of the CFTA, including providing oversight over a number of CFTA working groups; assisting in the resolution of disputes; approving the annual operating budget of the Internal Trade Secretariat (ITS); and considering any other matter that may affect the operation of the CFTA.
    • Committee on Internal Trade (CIT): On February 28, 2025, the Federal, Provincial, Territorial Committee on Internal Trade was convened and agreed to the following actions:
      • Enhancing the commitments under the Canadian Free Trade Agreement (CFTA): All governments committed to conducting a rapid review of all remaining party-specific exceptions in the CFTA and swiftly conclude negotiations for incorporating the financial services Sector into the Agreement. This will ensure a free and open internal market for Canadian businesses and workers. Building on removals some governments have completed since 2017, to date, a minimum of 40 exceptions have been identified for removal by five governments, with all exception reviews to be completed by June 1, 2025.
      • Reducing regulatory and administrative burden through mutual recognition: A strong domestic market starts with goods freely moving between provinces and territories. Building on the pilot project on mutual recognition in trucking, all governments have now agreed to immediately launch negotiations for mutual recognition of all consumer goods (excluding food). This would guarantee that a good certified in one province can be bought and sold in any other, without additional red tape. Parties may also pursue a broader mutual recognition agreement covering most or all sectors of the economy through unilateral, bilateral, or multilateral initiatives. The CIT committed to tabling an Action Plan for Mutual Recognition of Consumer Goods by March 31, 2025.
      • Facilitating labour mobility: Internal trade and labour market ministers will prioritize efforts to further improve transparency and reduce administrative burden for labour mobility applicants to support the timely and seamless mobility of workers to fill jobs wherever they are available, including by adopting a service standard of 30 days or better to process applications.
      • Launching pan-Canadian direct-to-consumer alcohol sales for Canadian products: The Governments of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, and Canada have committed to improve the trade of alcohol products between participating jurisdictions by advancing direct-to-consumer sales for Canadian products. Currently, British Columbia allows for direct-to-consumer sales for wine, while Manitoba is already open to direct-to-consumer sales on all alcoholic beverages. The Yukon is exploring options for direct-to-consumer alcohol sales within the territory.
      • Employing a Team Canada approach to promote the domestic economy: All governments committed to working together to promote growth and resiliency in the domestic market by helping Canadian businesses identify and access new opportunities in other provinces and territories including through domestic trade missions.

    MIL OSI Canada News –

  • MIL-OSI Australia: NAB support for customers and colleagues impacted by Tropical Cyclone Alfred

    Source: National Australia Bank

    • NAB announces assistance for customers and colleagues affected by Tropical Cyclone Alfred
    • Customers encouraged to contact bank when ready to discuss available financial assistance
    • Temporary closures of select branches to ensure customer and colleague safety

    NAB has today announced disaster relief assistance for customers and colleagues affected by Tropical Cyclone Alfred.

    NAB encourages affected customers to contact the bank when they’re ready to discuss a range of financial relief measures, including:

    • Credit card and personal loan relief
    • Waiving the establishment fee for restructuring business facilities
    • ​​​​​​​Concessional loans to customers seeking support to restructure existing facilities to assist in repairs, restocking and re-opening for business
    • Reducing and moratorium on home and personal loan repayments
    • Wellbeing support for colleagues and customers

    NAB’s Local Personal Banking Executive Tony Story said the measures provide customers with peace of mind, and access to immediate financial support.

    “We want our customers and colleagues to know we’re here to help,” Mr Story said.

    “The number one priority here is their safety. In the coming days, our teams will be on standby to support impacted customers. We are committed to providing extra care and support during these difficult times.

    “Anyone who needs assistance or advice can contact us by calling us or choosing the chat option in the app.

    “When it’s safe to reopen our branches, we’ll also be happy to welcome you back for face to face service.”

    To access financial assistance please call NAB Assist on:  

    • 1300 661 114 for personal customers
    • 1300 881 661 for business customers

    Additional help is available via:  

    • NAB messaging in the App and on Internet Banking
    • At nab.com.au/disaster
    • Agri customers who need help can contact their banker.
    • For NAB insurance claims (damaged homes, contents, and vehicles), please call Allianz on 1300 555 013

    Be aware of Frauds and Scams

    During this time, customers are reminded to stay alert to potential scams. Criminals may use events like this natural disaster as an opportunity to impersonate well-known organisations including banks, insurance or telecommuication providers and government agencies. NAB will never send customers links in unexpected text messages, or ask customers for personal information like passwords or pins.

    Environment

    SEE ALL TOPICS

    Media Enquiries

    For all media enquiries, please contact the NAB Media Line on 03 7035 5015

    MIL OSI News –

  • MIL-OSI Security: 3rd MLG Conducts Instream Offload with USN, ROKMC During Freedom Banner 25

    Source: United States INDO PACIFIC COMMAND

    The instream offload is part of the overarching Maritime Prepositioning Force strategy, which sees these supplies transported by ship and offloaded and distributed to III Marine Expeditionary Forces in-country prior to the Korean Marine Exchange Program. The instream variation of an MPF offload is designed to be conducted without routine logistical support systems.

    “This operation simulates an offload of equipment from a United States Naval Ship vessel directly to the shore and providing that equipment quickly to the (Marine Air-Ground Task Force) commander on the ground in locations where docking pierside for offload is untenable,” said 1st Lt. Rafael Almodovar Sanabria, assistant current operations officer with 3rd MLG. “This sealift capability allows equipment to flow in a non-permissive environment, where the ship anchors in a safe haven to provide that gear to shore in a rapid manner without use of a pier to dock at.”

    Off the coast of Dogu Beach outside ROKMC Base Pohang sat the USNS Dahl (T-AKR 312), one of four MPF ships as part of the USN’s Military Sealift Command, designed to sustain a MAGTF for up to 30 days. The USNS Dahl transferred the vehicles and equipment by crane onto an Improved Navy Lighterage System, a mobile platform used as the transportation asset between ship and shore. The INLS sails as close to the beach as possible before the equipment is taken off and staged for follow-on actions.

    However, the beach must be prepared beforehand, or as much as the conditions of operations can allow. ROK Marines with the ROKMC MLG laid expeditious roadway mats from the nearest road down to the edge of the surf, providing a cleared path for the equipment to exfiltrate the beach as quickly as possible.

    In addition to the instream offload refining the MLG’s ability to transport equipment in a contested environment, nearly 900 additional Marines and Sailors and additional vehicles and equipment was concurrently offloaded at Pohang Port via a High-Speed Transport vessel. The dual operations, both in support of upcoming III MEF bilateral training evolutions alongside the ROKMC forces, flexed the MLG’s ability to logistically support such a large force.

    “It’s been a significant exercise for us so far, conducting offload both pierside and instream of one of our MPF vessels, then transporting the equipment to multiple sites throughout the country,” said Brig. Gen. Kevin Collins, commanding general of 3rd MLG. “It’s important to demonstrate we can get our equipment to the peninsula, create a composite combat-credible force, and employ those forces and assets in a field training exercise.”

    The ability to conduct an instream offload is critical to logistical operations during a contingency or disaster relief event. Rather than being forced to rely on preexisting infrastructure to support the movement of warfighting or lifesaving equipment and supplies, the capability to execute sealift operations provides the ability to offload at virtually any feasible coastal location, rallying ashore, and moving inland where required. Coupled with the HST offload, MLG logisticians facilitated the doubling of III MEF forces and equipment in South Korea in a single day.

    “Most MEF level deployments require you to marshal hundreds of troops and cargo at some point, but never have I ever expected to marshal and stage almost 1,000 personnel plus cargo in a single rotation,” said Cpl. Matthew Mulherin, Jr., embarkation chief with G3, 3rd MLG. “We have reached a milestone with these offloads, raising the bar for future iterations of the exercise.”

    Freedom Banner is the validation and improvement of the MLG’s expeditious sealift capability and integrated logistics operations. This training strengthens the MLG’s ability to embark, offload and distribute gear and equipment across a contested environment in support of combat or humanitarian events alongside the command and support structure of the ROKMC MLG.

    “This is not just a relationship of warriors, but one of friends,” said Collins. “The ROK Marine Corps and U.S. Marine Corps are very close, but our MLGs are even closer.”

    MIL Security OSI –

  • MIL-OSI USA: Senator Reverend Warnock Statement on Extreme Tariffs on Everyday Goods, Agriculture

    US Senate News:

    Source: United States Senator Reverend Raphael Warnock – Georgia

    Senator Reverend Warnock Statement on Extreme Tariffs on Everyday Goods, Agriculture

    Senator Reverend Warnock is the Ranking Member of the Senate Finance Subcommittee on International Trade, Customs, and Global Competitiveness
    Tariffs will impact cost of produce, canned soda, beer, lumber for housing, aluminum for cars and manufacturing equipment, fertilizer for producers, and more
    Washington, D.C. – Today, U.S. Senator Reverend Raphael Warnock (D-GA), ranking member of the Senate Finance Subcommittee on International Trade, Customs, and Global Competitiveness, issued the following statement on the newly announced 25% tariffs on Canada and Mexico.
    “When I hear from ordinary Georgians, they tell me the cost of everything from housing to prescription drugs to groceries are too expensive. Georgians feel like their dollar isn’t going far enough, and these tariffs only make the problem worse.”
    “These sweeping tariffs and this impending trade war will hurt our farmers, who are now seeing a hike in fertilizer prices going into planting season. With retaliatory tariffs already being implemented, I fear that my years of bipartisan efforts to open up international markets for our farmers will be erased. This will make produce in the grocery stores more expensive and producers losing their farms more likely.”
    “I’m not opposed to all tariffs. They can be a useful tool to protect American jobs and coerce bad actors like China to play by the rules. But these chaotic and impulsive tariffs do nothing but punish Georgians who are just trying to balance their checkbook and save for the future. I will continue to speak out against policies that hurt Georgia families and farmers.”  

    MIL OSI USA News –

  • MIL-OSI USA: AI pioneers Andrew Barto and Richard Sutton win 2025 Turing Award for groundbreaking contributions to reinforcement learning

    Source: US Government research organizations

    NSF funded Barto’s research journey from basic science to pioneering breakthroughs in artificial intelligence

    The computing world is celebrating a major milestone as Andrew Barto, professor emeritus at the University of Massachusetts Amherst, and Richard Sutton, professor of computer science at the University of Alberta, Canada, have been awarded the 2024 Association for Computing Machinery A.M. Turing Award — often called the “Nobel Prize of computing” — for “developing the conceptual and algorithmic foundations of reinforcement learning.”

    The legacy in reinforcement learning

    Barto and Sutton are widely recognized as pioneers of the modern computational reinforcement learning (RL), a field that addresses the challenge of learning how to act based on evaluative feedback. Their work has laid the conceptual and algorithmic foundations of RL, shaping the future of artificial intelligence and decision-making systems.

    The influence of RL extends across multiple disciplines, including computer science (machine learning), engineering (optimal control), mathematics (operations research), neuroscience (optimal decision-making), psychology (classical and operant conditioning) and economics (rational choice theory). Researchers in these fields continue to be profoundly shaped by the contributions of Sutton and Barto.

    From NSF Grants to AI Breakthroughs

    Barto’s contributions were made possible through a series of U.S. National Science Foundation-funded projects that sustained AI research long before its recent boom. His research was supported through grants from NSF programs including the National Robotics Initiative, Robust Intelligence, Collaborative Research in Computation Neuroscience, Human-Centered Computing, Biological Information Technology and Systems, Artificial Intelligence and Cognitive Science, which have driven the long-term, fundamental advances in machine learning that we see today.

    “Barto’s research exemplifies the power of foundational computational research that has not only advanced state-of-the-art decision-making machines and intelligent systems but has also provided critical insights into understanding intelligence itself,” said Greg Hager, NSF assistant director for Computer and Information Science and Engineering.

    “Andy Barto’s work laid the foundation for modern reinforcement learning, influencing generations of researchers, including myself. His insights with Rich Sutton into how agents can learn and adapt in complex environments form the backbone of how automated behavior is generated in the field of artificial intelligence. Without his pioneering research, many of today’s — and tomorrow’s — AI breakthroughs wouldn’t be possible,” said Michael Littman, director for the NSF Division of Information and Intelligent Systems.

    The impact of Barto and Sutton’s work

    For decades, NSF has supported fundamental research in AI, with Barto’s work being among the most influential. Barto and Sutton formalized RL concepts through decades of research, beginning with Sutton’s time as Barto’s first doctoral student. Their collaboration continued as Sutton later joined Barto at the UMass Amherst as a senior research scientist from 1995 to 1998 and beyond, producing many of the foundational RL approaches that remain in use today.

    Reinforcement learning methods built on Sutton and Barto’s work today underpin:

    • Chatbots: Conversational AI agents learn to answer questions helpfully and accurately with the help of a technique called reinforcement learning from human feedback, as deployed in ChatGPT and other leading bots.
    • Games: From Jeopardy to Go to video games, RL algorithms have made it possible for computer players to achieve world-class performance and have even influenced the strategies of the best human players.
    • Robot motor skill learning: RL enables robots to learn autonomously through trial and error how to carry out intricate tasks.
    • Microprocessor layout and circuit design: RL systems make decisions for composing components that make up computer chips
    • Personalized recommendations: Online services like Netflix and YouTube rely on RL techniques to tailor recommendations.
    • Autonomous vehicles: RL models help self-driving cars learn how to navigate complex traffic environments.
    • Supply chain optimization: RL-enabled systems learn what items need to be stored where so that customers can receive goods quickly and cheaply.
    • Algorithm design: Researchers have broken new ground and solved long-standing problems with the help of RL systems.

    Breakthroughs in RL have fueled a multibillion-dollar industry, with major companies like DeepMind and OpenAI relying on RL as a core technology. Additionally, many major tech firms now have dedicated RL research teams. It is also recognized as a core topic of study. For example, RL was added to the Computer Science Standards of Learning for Virginia Public Schools earlier this year.

    Bridging AI and neuroscience

    The influence of Barto and Sutton’s work extends far beyond computer science and AI, forging crucial connections between RL and brain sciences, including cognitive science, psychology and neuroscience. Their research has provided groundbreaking insights into how learning can occur, both in machines and in the human brain.

    One of their earliest breakthroughs came in 1981 when they showed that temporal difference (TD) learning could explain certain learning behaviors that the existing Rescorla-Wagner model couldn’t. This discovery opened the door to a new way of understanding how learning happens. Building on this idea, a 1995 study found a connection between the TD algorithm and how dopamine neurons in the brain behave. This insight laid the groundwork for later experiments that confirmed that TD learning accurately describes how dopamine influences reward-based learning.

    With the 2025 A.M. Turing Award recognizing Barto and Sutton’s lifetime achievements, their legacy underscores the importance of sustained federal investment in basic research — the kind of support that has fueled AI’s breakthroughs over the last four decades.

    For more details on this year’s award, please visit https://amturing.acm.org/

    MIL OSI USA News –

  • MIL-OSI Australia: Precautionary school closures in Northern NSW as Tropical Cyclone Alfred approaches

    Source: New South Wales Government 2

    Headline: Precautionary school closures in Northern NSW as Tropical Cyclone Alfred approaches

    Published: 5 March 2025

    Released by: Minister for Education and Early Learning, Minister for Emergency Services, Minister for Skills, TAFE and Tertiary Education

    Schools across the North Coast of NSW will be non-operational for the next two days to safeguard students and staff as Tropical Cyclone Alfred approaches.

    Due to potential impacts of the cyclone, including a heightened risk of flooding, more than 230 public schools, 29 Catholic schools, five independent schools and 16 TAFE campuses, along with two additional TAFE campuses being used as evacuation centres, are closed. The closures are expected to impact schools from Wednesday 5 March, through to Friday 7 March 2025.

    Tropical Cyclone Alfred is expected to cross the coastline north of Brisbane as a Category 2 cyclone late on Thursday or early Friday.

    Substantial flooding is expected with up to a metre of rain forecast to fall in southern Queensland and north-eastern NSW over several days.

    Because of these risks, families have been asked to not send children to school for the next two days.

    At this stage schools are expected to resume operations on Monday 10 March 2025.

    The department has a stock of essential products ready to be dispatched to support our school communities, including gloves, paper towels, pump soap, tissues, toilet paper, bottled water and personal insect repellents. Additional blow-drying units and air purifiers are also available.

    The Department of Education also requires all early childhood education and care (ECEC) services to operate safely, including during extreme weather events, and is contacting services in affected regions.

    The Department urges services to assess the risk of severe weather in their community and if necessary, activate their emergency plans and procedures. We encourage services to follow the advice of local authorities and the SES.

    The SES has asked families to prepare their homes for strong winds, by putting away loose items around their home, trimming trees away from properties and not parking vehicles under trees or powerlines. 

    Never drive, walk, ride through, play or swim in flood water, and any avoid unnecessary travel. Download the Hazards Near Me App to stay across the latest warnings and information.

    Call the NSW SES on 132 500 if you need emergency assistance in floods and storms. In a life-threatening emergency, call Triple Zero (000) or visit www.ses.nsw.gov.au

    Visit the Department of Education website for up-to-date list on information on schools that are non-operational. A list of TAFE NSW campuses that are non-operation is available on the TAFE NSW website.

    Minister for Education and Early Learning Prue Car said:

    “As our communities prioritise their safety and prepare for the arrival of Cyclone Alfred, we are ensuring teachers, students and school staff are not unnecessary placed in harm’s way by attending school.

    “Keeping our students and families safe must always be our top priority.

    “While we usually do not advocate for the closure of schools and places of learning, in these circumstances, an abundance of caution can be what keeps our community safe.”

    Minister for Emergency Services Jihad Dib said:

    “It is important that at this critical time we plan ahead, and we are asking the community to keep their children home from school.

    “Please follow the advice of emergency services and continue to check the NSW State Emergency Service website for the latest information and, if you haven’t already, download the Hazards Near Me App which includes the latest warnings and information.

    “The NSW Government is doing all we can to prepare ahead of Tropical Cyclone Alfred crossing the coast later this week and we are asking the community to take steps now to ensure that they are prepared.”

    Minister for Skills, TAFE and Tertiary Education Steve Whan said:

    “Our number one priority is the safety and wellbeing of our staff, students and their families.

    “We are incredibly grateful to our team of dedicated TAFE NSW staff who have a wonderful track record of supporting their communities by ensuring campuses can be turned into evacuation centres during natural disaster events.”

    Deputy Secretary of Public Schools Deborah Summerhayes said:

    “The department is taking a safety-first approach. We know a lot of our North Coast communities have been through difficult periods in recent years –  with the 2022 floods still fresh in their memories.

    “That’s why we are planning for the worst and hoping for the best.

    “We want to do everything we can to ensure our school communities are well supported and our staff and students are safe.”

    MIL OSI News –

  • MIL-OSI: Mount Logan Capital Inc. Schedules Release of 2024 Fiscal Year Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 05, 2025 (GLOBE NEWSWIRE) — Mount Logan Capital Inc. (CBOE: MLC) (“Mount Logan” or the “Company”) will release its financial results for the fiscal year ended December 31, 2024 after market close on Thursday, March 13, 2025. The Company will host a conference call on Friday, March 14, 2025, at 9:00 a.m. Eastern Time to discuss these results. Shareholders, prospective shareholders, and analysts are welcome to listen to the conference call. To join the call, please use the dial-in information below. A recording of the conference call will be available on Mount Logan’s website www.mountlogancapital.ca in the Investor Relations section under “Events”.

    Canada Dial-in Toll Free: 1-833-950-0062
    US Dial-in Toll Free: 1-833-470-1428
    International Dial-in:
    Access Code: 601424

    About Mount Logan Capital Inc.

    Mount Logan Capital Inc. is an alternative asset management and insurance solutions company that is focused on public and private debt securities in the North American market and the reinsurance of annuity products, primarily through its wholly owned subsidiaries Mount Logan Management LLC (“ML Management”) and Ability Insurance Company (“Ability”), respectively. Mount Logan also actively sources, evaluates, underwrites, manages, monitors and primarily invests in loans, debt securities, and other credit-oriented instruments that present attractive risk-adjusted returns and present low risk of principal impairment through the credit cycle.

    ML Management was organized in 2020 as a Delaware limited liability company and is registered with the SEC as an investment adviser under the Investment Advisers Act of 1940, as amended. The primary business of ML Management is to provide investment management services to (i) privately offered investment funds exempt from registration under the Investment Company Act of 1940, as amended (the “1940 Act”) advised by ML Management, (ii) a non-diversified closed end management investment company that has elected to be regulated as a business development company, (iii) Ability, and (iv) non-diversified closed-end management investment companies registered under the 1940 Act that operate as interval funds. ML Management also acts as the collateral manager to collateralized loan obligations backed by debt obligations and similar assets.

    Ability is a Nebraska domiciled insurer and reinsurer of long-term care policies acquired by Mount Logan in the fourth quarter of fiscal year 2021.

    This press release is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and the communication of this release is not, and under no circumstances is it to be construed as, an offer to sell or an offer to purchase any securities in the Company or in any fund or other investment vehicle. This press release is not intended for U.S. persons. The Company’s shares are not and will not be registered under the U.S. Securities Act of 1933, as amended, and the Company is not and will not be registered under the U.S. Investment Company Act of 1940 (the “1940 Act”). U.S. persons are not permitted to purchase the Company’s shares absent an applicable exemption from registration under each of these Acts. In addition, the number of investors in the United States, or which are U.S. persons or purchasing for the account or benefit of U.S. persons, will be limited to such number as is required to comply with an available exemption from the registration requirements of the 1940 Act.

    Contacts:
    Mount Logan Capital Inc.

    365 Bay Street, Suite 800
    Toronto, ON M5H 2V1
    info@mountlogancapital.ca

    Nikita Klassen
    Chief Financial Officer
    Nikita.Klassen@mountlogancapital.ca

    Scott Chan
    Investor Relations
    Scott.Chan@mountlogan.com

    The MIL Network –

  • MIL-OSI Security: Montgomery Man Sentenced to Eight Years in Prison Following Federal Drug and Gun Convictions

    Source: Office of United States Attorneys

                Montgomery, Ala. – Today, Acting United States Attorney Kevin Davidson announced the sentencing of a Montgomery, Alabama man following his convictions on federal drug and gun charges. On March 4, 2025, 23-year-old Arthur Varcea Colvin, received a sentence of 96 months in prison. Following his prison sentence, Colvin will serve three years of supervised release. There is no parole in the federal system. 

              According to his indictment and other court records, on February 1, 2023, officers with the Montgomery Police Department observed the driver of a vehicle commit a traffic violation and conducted a traffic stop. Occupants of the vehicle included Colvin in the front passenger’s seat, 28-year-old Le’Anthony Washington in the driver’s seat, and another passenger in the rear seat. Officers developed a suspicion that the vehicle contained illegal narcotics and requested the three occupants exit the vehicle. During a search, law enforcement found three firearms, including a .40 caliber handgun under the driver’s seat, an AR-15 pistol under the front passenger’s seat, and a 9mm handgun on the back floorboard. Investigators also found over 400 grams of marijuana in the trunk. In addition, officers found a handgun and a small amount of marijuana on Colvin’s person.

               On October 28, 2024, Colvin pleaded guilty to possession of marijuana with the intent to distribute and possession of a firearm in furtherance of a drug trafficking crime. Washington has a previous felony conviction and is prohibited from possessing a firearm or ammunition. In October of last year, Washington pleaded guilty to being a felon in possession of a firearm. Washington received a sentence of 35 months in federal prison on January 31, 2025. 

              The Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) and Montgomery Police Department investigated this case, which Assistant United States Attorney Michelle R. Turner prosecuted.

    MIL Security OSI –

  • MIL-OSI Security: Former U.S. Postal Service Employee Sentenced to Federal Prison for His Involvement in Drug Trafficking Conspiracy

    Source: Office of United States Attorneys

    MONROE, La. – Willie Shanderek Shavon Woodard, 23, of Monroe, Louisiana, has been sentenced for his role in a drug trafficking conspiracy, announced Acting United States Attorney Alexander C. Van Hook. Woodard, a former U.S. Postal Service employee, was sentenced by Chief United States District Judge Terry A. Doughty to 108 months (9 years) in prison, followed by 3 years of supervised release.  

    The charges in this case stem from an investigation by law enforcement agents with the U.S. Postal Inspection Service (“USPIS”) into suspicious packages being sent through the U.S. Mail to addresses in Monroe. On October 27, 2022, agents intercepted two suspicious packages that were destined for two residences in Monroe from California. Search warrants were obtained for both packages and agents recovered five one-pound packages in each parcel which was determined to be a total of ten pounds of methamphetamine. One of the packages was addressed to a residence in Monroe which was an abandoned house on Woodard’s mail route. 

    In August of 2023, USPIS agents intercepted another package destined for the same abandoned house in Monroe on Woodard’s mail route. A search warrant was obtained for the second package and inside was approximately 2.2 pounds of marijuana. Agents removed the controlled substance and placed the package back into the normal mail stream to the address. On August 28, 2023, agents observed Woodard meet one of his co-defendants and place the same package in the trunk of the vehicle being driven by his co-defendant. Soon after, a traffic stop was conducted of the vehicle and law enforcement officers found the package in the trunk of the vehicle, as well as a Glock 19 pistol under the driver’s seat. Woodard and his co-defendant were both subsequently arrested.

    Through their investigation, agents found numerous messages between Woodard and other co-defendants notifying them of the address where the suspicious package had been sent in Monroe. In addition, there were numerous messages from Woodard to his co-defendants wherein he provided addresses of houses on his mail route. Agents learned that several packages had been sent from the same address in California to those addresses in Monroe on numerous occasions. 

    Woodard was charged and pleaded guilty to conspiracy to possess with intent to distribute methamphetamine and admitted to his involvement in the conspiracy.

    The case was investigated by the U.S. Postal Inspection Service, the Bureau of Alcohol, Tobacco, Firearms and Explosives, and the Louisiana State Police, and was prosecuted by Assistant United States Attorney J. Aaron Crawford and Special Assistant United States Attorney Catherine Semmes.

    # # #

    MIL Security OSI –

  • MIL-OSI Security: Fort Hall Man Sentenced to 5 Years for Robbery at Knifepoint

    Source: Office of United States Attorneys

    POCATELLO – Malik Marin Ish, 23, of Fort Hall, was sentenced to 5 years in prison for robbery, Acting U.S. Attorney Justin Whatcott announced today.  Chief U.S. District Court Judge David C. Nye sentenced Ish on March 3, 2025, to 54.5 months in federal prison in addition to the 8.5 months of tribal jail time, which Ish served leading up to his sentencing.

    According to court records, on February 19, 2024, Ish approached a man getting gasoline in his Jeep Cherokee at a gas station in Fort Hall and demanded the man’s vehicle at knifepoint.  The man and Ish struggled for a time and Ish tried to stab him.  Ish took the Jeep and crashed it a short distance away.  Fort Hall Police officers located Ish later that day and recognized Ish as the robbery suspect, based on the unique red clothing he was wearing.  Police officers also obtained video surveillance from the gas station, which showed Ish as the robber.

    Chief Judge Nye also ordered Ish to serve three years of supervised release following his prison sentence.  Ish pleaded guilty to the charge in December 2024.  Ish will also concurrently serve 21 months for a supervised release violation from an earlier conviction.

    Acting U.S. Attorney Whatcott thanked the Federal Bureau of Investigation and the Fort Hall Police Department for their joint investigation in this case.  Assistant U.S. Attorney Jack Haycock prosecuted this case.

    ###

    MIL Security OSI –

  • MIL-OSI Australia: Low-carbon liquid fuels of the Future Made In Australia

    Source: Australia Government Ministerial Statements

    The Albanese Government is delivering $250 million to accelerate the pace of Australia’s growing domestic Low Carbon Liquid Fuels (LCLF) industry.

    This funding is part of the $1.7 billion Future Made in Australia Innovation Fund and will be provided as grants to support pre-commercial innovation, demonstration and deployment.

    Low carbon liquid fuels can be produced sustainably from waste, biomass such as agricultural feedstocks, or renewable hydrogen.

    Australia’s domestic LCLF industry will focus on supplying sustainable aviation fuel and renewable diesel in liquid fuel-reliant sectors, including transport (aviation, heavy vehicle, rail and maritime), mining, agriculture and construction.

    The development of low carbon fuels will drive economic growth and jobs in regional areas, including supporting diversification in agriculture, making good use of excess feedstock from crops, sugarcane and waste products such as tallow.

    CSIRO projects that a LCLF industry could contribute between AUD $6 billion to $12 billion annually in direct economic benefits, with greater gains from regional co-benefits including diversified income streams for farmers and regional communities.

    LCLFs not only help decarbonise hard-to-abate sectors of the economy but provide Australia with sovereign capability and resilience at a time of increasing international uncertainty. 

    Alongside the $250 million for low carbon liquid fuels, the Future Made in Australia Innovation Fund is providing $500 million for clean energy technology manufacturing capabilities including electrolysers, batteries and wind towers.

    The Fund – a key element of the Future Made in Australia plan – will ensure Australia can maximise the economic and industrial benefits of the international move to net zero and secure Australia’s place in a changing global and strategic landscape. Funding is administered by the Australian Renewable Energy Agency (ARENA).

    The investment in a wider domestic LCLF industry builds on the momentum of the Sustainable Aviation Fuel Funding Initiative.

    This Sustainable Aviation Fuel Funding Initiative has seen the Albanese Government invest in $33.5 million across five projects to date, including LCLF production facilities in Bundaberg and Townsville, and enabling the supply of sustainable aviation fuel at Brisbane Airport.

    Funding from the Future Made in Australia Innovation Fund is subject to the legislated Future Made in Australia Community Benefits Principles. The Albanese Government established these principles to ensure public investment and the private investment it attracts, has a direct and tangible benefit for local workers and businesses.

    Quotes attributable to Minister for Climate Change and Energy Chris Bowen:

    “The Australian Government is backing clean, green low carbon liquid fuels as an important part of our move towards net zero and long-term fuel security.

    “Australia has the know how and skills to meet the crucial task of decarbonising hard to abate sectors such as aviation, heavy transport and mining that rely on liquid fuels.

    “Investing in a Future Made in Australia means delivering the industries that will provide high end jobs, many in the regions, for future generations.”

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

    “We know that industries vital to our national prosperity, like the transportation of people and goods across our vast land, are carbon intensive and hard to abate.

    “That’s why we’re investing hundreds of millions of dollars to develop – right here in Australia – the low carbon liquid fuels of the future that will reduce their environmental impact without preventing their operation or expansion.

    “We have all the ingredients in Australia to be a global clean energy superpower, and the Future Made in Australia fund will help bring that potential to reality.”

    MIL OSI News –

  • MIL-OSI Security: Stratford Man Sentenced to 7 Years in Federal Prison for Trafficking Firearms

    Source: Office of United States Attorneys

    Marc H. Silverman, Acting United States Attorney for the District of Connecticut, announced that STEFAN BAGLEY, JR., 23, of Stratford, was sentenced today by U.S. District Judge Omar A. Williams in Hartford to 84 months of imprisonment, followed by three years of supervised release, for trafficking firearms.

    According to court documents and statements made in court, on July 26, 2023, Bagley was shot and wounded while traveling in his vehicle in Bridgeport.  Later that day, Bagley’s vehicle was used in another shooting incident in Bridgeport.  An investigation revealed that, between October 2022 and October 2023, Bagley purchased more than 20 handguns from licensed firearm dealers and sold the guns to a network of customers, several of whom Bagley knew were prohibited by law from possessing firearms.  Bagley typically scratched the serial numbers off of the firearms before providing them to his customers, making the guns more difficult to trace.

    To date, law enforcement has recovered only five of the firearms that were purchased and trafficked by Bagley.  One of the recovered firearms was used in a shooting in Stamford.

    Bagley was arrested on December 18, 2023.  On August 19, 2024, he pleaded guilty to firearm trafficking conspiracy.

    Bagley, who is released on a $100,000 bond, is required to report to prison on May 5.

    This matter was investigated by Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), the Bridgeport Police Department, and the Connecticut State Police.  The case was prosecuted by Assistant U.S. Attorney Kenneth L. Gresham.

    This case is part of Project Safe Neighborhoods (PSN), the centerpiece of the Department of Justice’s violent crime reduction efforts. PSN is an evidence-based program proven to be effective at reducing violent crime. Through PSN, a broad spectrum of stakeholders work together to identify the most pressing violent crime problems in the community and develop comprehensive solutions to address them.  As part of this strategy, PSN focuses enforcement efforts on the most violent offenders and partners with locally based prevention and reentry programs for lasting reductions in crime.  For more information about Project Safe Neighborhoods, please visit www.justice.gov/psn.

    MIL Security OSI –

  • MIL-OSI Security: Former executive of injured child benefit program sentenced to nine years in prison for stealing over $6.7M

    Source: Office of United States Attorneys

    RICHMOND, Va. – A Providence Forge man was sentenced today to nine years in prison for embezzling funds from his former employer, the Virginia Birth-Related Neurological Injury Compensation Program (Birth-Injury Program).

    According to court documents, John Hunter Raines, 38, was the Chief Financial Officer and Deputy Director of the Birth-Injury Program. The Birth-Injury Program pays monetary compensation to families of infants who suffer from brain or spinal cord injuries resulting from the birth process that render the infant developmentally and/or cognitively disabled. Raines’ role required that he oversee the finances of the Birth-Injury Program, including approximately $650 million in investments in 2023.

    From at least January 2022 through October 2023, Raines stole over $6.7 million from the Birth-Injury Program, including by using his access to the Birth-Injury Program bank account to initiate at least 59 separate wire transactions, sending funds to bank accounts in Raines’ own name. Raines also used the Birth-Injury Program debit card for personal gain. Raines spent embezzled Birth-Injury Program money on various personal expenses. For example:

    • Raines purchased numerous vehicles, including eight luxury golf carts for over $160,000 and a 2023 Chevrolet Suburban;

    • Raines spent over $100,000 on gambling, including at Rivers Casino in Portsmouth, Virginia, Colonial Downs Racetrack in New Kent, Virginia, and the Virginia Lottery;

    • Raines paid at least $29,000 to an intimate partner and tens of thousands of dollars to a bank account in the name of Raines’ wife;

    • Raines spent over $9,000 on private limousine services, including to chauffer Raines and his guests in a Mercedes limousine from Raines’ house to Virginia vineyards;

    • Raines made numerous purchases of cryptocurrency, including Bitcoin and Dogecoin, and transferred funds to his brokerage accounts;

    • Raines paid tens of thousands of dollars towards his student loan debt, his mortgage, and other loans;

    • Raines paid over $125,000 for private jet travel for Raines’ friends and family. As an example, Raines paid over $34,000 to travel with his wife and his friends to Nashville, Tennessee, for three days in a private jet; and

    • Raines spent over $19,000 to purchase eight separate 2022 1-oz American Gold Eagle Bullion coins and a 100-oz silver bar.

    As a financial control on the Birth-Injury Program, Virginia Code § 38.2-5015(B) required an independent certified public accountant selected by the Birth-Injury Program’s board of directors to complete an audit of the program’s accounts each fiscal year. Raines deliberately impeded the statutorily mandated audit process by failing to timely provide the Birth-Injury Program’s files to auditors when requested. Due at least in part to Raines’ obstructive conduct, the Birth-Injury Program’s statutorily mandated audits continue to be delayed by over three years.

    Raines pled guilty to mail fraud and money laundering offenses on Oct. 8, 2024.

    Erik S. Siebert, U.S. Attorney for the Eastern District of Virginia; Damon E. Wood, Inspector in Charge of the Washington Division of the U.S. Postal Inspection Service; Kareem A. Carter, Internal Revenue Service (IRS) Criminal Investigation Special Agent in Charge of the Washington D.C. Field Office; and Michael C. Westfall, State Inspector General for the Commonwealth of Virginia, made the announcement after Senior U.S. District Judge John A. Gibney Jr. accepted the plea.

    Assistant U.S. Attorney Avi Panth and former Assistant U.S. Attorney Kashan K. Pathan prosecuted the case.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 3:24-cr-138.

    MIL Security OSI –

  • MIL-OSI Canada: Budget 2025: Investing in Alberta’s future | Budget 2025 : Investir dans l’avenir de l’Alberta

    As Alberta continues work to address increasing domestic and international economic pressures, Budget 2025 works to strengthen Alberta’s economy. This budget helps build communities, secure Alberta’s southern border and boost investments in the province’s economic future.

    “While we work closely with partners to find solutions to a possible trade conflict, we will continue our work to make sure Alberta’s economy is strong – in and outside of the energy sector – so that we can manage any turbulence that comes our way. Budget 2025 carves our path forward in the face of this uncertainty.”

    Nate Horner, President of Treasury Board and Minister of Finance

    Budget 2025: Supporting a strong workforce

    Alberta’s workforce is the backbone of the provincial economy. Budget 2025 continues the commitment to training and developing a skilled and resilient labour force to further grow Alberta’s economy and help businesses succeed, including: 

    • $26.1 billion over three years from the Capital Plan, to support about 26,500 direct and 12,000 indirect jobs each year through 2027-28.
    • $135 million for skilled trade programs such as apprenticeship and adult learning initiatives to help Albertans gain the skills and training needed for successful careers, and support access to job opportunities.
    • $2 billion in 2025-26 to support and expand early learning and child-care system so parents and caregivers can participate in training, education or work opportunities.  

    Budget 2025: Securing our borders

    • Alberta’s government is committed to being a good neighbour and trading partner, and part of this commitment involves taking measures to secure the Alberta-US border. Budget 2025 includes $29 million in 2025-26 for a new Interdiction Patrol Team within the Alberta Sheriffs to tackle illegal drug and gun smuggling, human trafficking, apprehension of persons attempting to cross the border illegally, and other illegal activities along Alberta’s international land border. Budget 2025 also includes a $15 million investment over two years for three new vehicle inspection stations located near borders to the USA.

    Budget 2025: Investing in post-secondary education

    Budget 2025 invests a total of $7.4 billion in post-secondary education, with an operating budget of $6.6 billion in 2025-26. This includes:

    • $78 million per year over the next three years to create more seats in apprenticeship classes across the province to build skilled trades and apprenticeship education that will respond to the needs of industry, support the economy and connect Albertans with jobs.
    • $113 million to support greater demand for scholarships and the Alberta Student Grant, with $60 million funded from the Alberta Heritage Scholarship Fund.
    • $4 million to the First Nations Colleges Grant which is distributed equally across five colleges in rural and remote Indigenous communities.

    “Our government is ensuring that Alberta students have the skills and training they need to meet the needs of today while preparing for the economy of the future. Budget 2025 makes foundational investments to meet the challenge of a rapidly growing population while supporting a sustainable post-secondary education system.”

    Rajan Sawhney, Minister of Advanced Education

    Budget 2025: Building communities

    Alberta’s vibrant communities make Alberta the best place in Canada to live, work and raise a family. Budget 2025 invests in stronger communities across Alberta, including:

    • $17.2 million to increase grants made to municipalities in lieu of property taxes on government-owned property to 75 per cent, up from the current 50 per cent. By next year, the province will cover 100 per cent of the amount that would be paid if the property was taxable.
    • $820 million this year and $2.5 billion over three years in Local Government Fiscal Framework capital funding to help fund local infrastructure priorities.

    Budget 2025: Supporting trade and diversification

    Alberta continues to champion economic growth and policies that support productivity. Through Budget 2025, Alberta’s government will continue to build on current successes through:

    • Attracting more investment through low corporate income taxes. At eight per cent, Alberta’s corporate income tax rate is 30 per cent lower than the next lowest province.
    • Providing greater incentive for small- and medium-sized firms that increase their spending on research and development, with Alberta’s Innovation Employment Grant.
    • Promoting Alberta as a reliable partner in supporting North American and global energy security to investors. The province will optimize new and existing infrastructure to access new markets for Alberta’s energy and mineral resources.
    • Supporting Alberta’s agriculture producers and value-added processors, addressing barriers to trade by cultivating export markets, and working to increase market access for Alberta products.
    • Reinforcing Alberta as a critical contributor to North American energy security by continuing to advocate for our remarkable energy sector across Canada, the U.S., Germany, Japan and the rest of the world.

    Budget 2025: Investing in business and industry

    Budget 2025 continues to find ways to help Alberta’s economy grow through investments in business and industry and help our economy grow, including:

    • Support to attract investment in Alberta’s energy and mineral resource sector to accelerate opportunities in emerging resources.
    • $45 million over three years for the Investment and Growth Fund to attract investment into Alberta’s economy.
    • $1.8 million in Western Crop Innovations for industry-leading crop research.
    • $780,000 to support small- and medium-sized meat processors.
    • $3.1 million for the University of Calgary’s Faculty of Veterinary Medicine to expand toward a full-service veterinary diagnostic laboratory. This will give livestock producers and vets access to quicker, more affordable livestock diagnostics closer to home.

    “Budget 2025 builds a stronger Alberta by growing industries, creating high-quality jobs and expanding opportunities for workers and families. With strategic investments in innovation, infrastructure and workforce development, Alberta is rising to the challenge, strengthening our province for many years to come.”

    Matt Jones, Minister of Jobs, Economy and Trade

    “We are advancing cutting-edge research in agriculture and supporting small and medium-sized businesses. Additionally, we are strengthening our agricultural infrastructure, ensuring quicker and more affordable services for livestock producers and veterinarians. We’re supporting innovation, attracting investment, and building a resilient economy for the future.”

    RJ Sigurdson, Minister of Agriculture and Irrigation

    Budget 2025 is meeting the challenge faced by Alberta with continued investments in education and health, lower taxes for families and a focus on the economy.

    Related information

    • Budget 2025

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    • Budget 2025: Meeting the challenge (Feb 27, 2025)
    • Budget 2025: Meeting the challenge in health and education (Feb 27, 2025)

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    Le budget de 2025 relève le défi de l’incertitude en matière de commerce et de sécurité en mettant l’accent sur l’économie.

    À mesure que l’Alberta continue de répondre aux pressions économiques intérieures et internationales, le budget de 2025 vise à renforcer l’économie albertaine. Il contribue à bâtir des communautés, à assurer la sécurité de la frontière au sud de la province et à renforcer les investissements dans notre avenir économique.

    « Alors que nous travaillons en étroite collaboration avec des partenaires pour trouver des solutions à un différend commercial potentiel, nous poursuivons notre travail pour nous assurer que l’économie de l’Alberta est forte, dans le secteur de l’énergie et ailleurs, afin de pouvoir gérer toute perturbation. Le budget de 2025 trace la voie à suivre face à cette incertitude. »

    Nate Horner, président du Conseil du Trésor et ministre des Finances

    Budget 2025 : Soutenir une main-d’œuvre solide

    La main-d’œuvre albertaine est l’épine dorsale de l’économie provinciale. Le budget de 2025 maintient l’engagement envers la formation et le perfectionnement d’une main-d’œuvre qualifiée et résiliente de sorte à faire croître l’économie et aider les entreprises à réussir : 

    • 26,1 milliards de dollars sur trois ans provenant du plan d’immobilisations afin d’appuyer environ 26 500 emplois directs et 12 000 emplois indirects chaque année jusqu’en 2027-2028.
    • 135 millions de dollars pour des programmes de métiers spécialisés, comme des initiatives d’apprentissages et d’éducation des adultes de sorte à aider les Albertains à acquérir les compétences et à suivre la formation nécessaires pour mener des carrières fructueuses, ainsi qu’à soutenir l’accès aux possibilités d’emploi.
    • 2 milliards de dollars en 2025-26 pour appuyer et élargir le système d’apprentissage et de garde des jeunes enfants afin que les parents et les gardiens tirent parti de possibilités de formation, d’éducation ou d’emploi.  

    Budget 2025 : Assurer la sécurité de nos frontières

    • Le gouvernement de l’Alberta est résolu à être un bon voisin et un bon partenaire commercial, ce qui implique la prise de mesures pour assurer la sécurité de la frontière entre l’Alberta et les États-Unis. Le budget de 2025 prévoit 29 millions de dollars en 2025-26 pour une nouvelle équipe de « patrouille d’interdiction » (Interdiction Patrol Team) qui fait partie des shérifs de l’Alberta et sera chargée de lutter contre le trafic de drogue et d’armes et la traite de personnes, d’appréhender les personnes qui tentent de traverser la frontière illégalement et de surveiller d’autres activités illégales le long de la frontière internationale de la province. Le budget de 2025 comprend en outre un investissement de 15 millions de dollars sur deux ans pour trois nouveaux postes d’inspection de véhicules près de la frontière des États-Unis.

    Budget 2025 : Investir dans l’enseignement postsecondaire

    Le budget de 2025 investit en tout 7,4 milliards de dollars dans l’enseignement postsecondaire, le budget d’exploitation étant de 6,6 milliards de dollars en 2025-2026. Cette somme comprend :

    • 78 millions de dollars par années sur trois ans pour créer un plus grand nombre de places dans les cours d’apprentissage de toute la province en vue de renforcer les métiers spécialisés et les formations en apprentissage qui répondront aux besoins de l’industrie, soutiendront l’économie et mettront les Albertains en rapport avec des emplois.
    • 113 millions de dollars pour contribuer à satisfaire à la demande croissante de bourses et appuyer la bourse aux étudiants de l’Alberta (Alberta Student Grant), dont 60 millions de dollars provenant de l’Alberta Heritage Scholarship Fund.
    • 4 millions de dollars pour la subvention aux collèges des Premières Nations (First Nations Colleges Grant), cette somme étant répartie également entre cinq collèges dans des communautés autochtones rurales et éloignées.

    « Notre gouvernement veille à ce que les étudiants en Alberta possèdent les compétences et la formation nécessaires pour répondre aux besoins actuels, tout en se préparant à l’économie future. Le budget de 2025 réalise des investissements fondamentaux de sorte à relever les défis posés par une population en pleine croissance, tout en appuyant un système d’éducation postsecondaire durable. »

    Rajan Sawhney, ministre de l’Enseignement postsecondaire

    Budget 2025 : Bâtir des communautés

    Les communautés dynamiques de notre province font de l’Alberta le meilleur endroit au Canada où vivre, travailler et élever une famille. Le budget de 2025 investit dans des communautés plus fortes partout en Alberta :

    • 17,2 millions de dollars pour augmenter de 50 % à 75 % les subventions accordées aux municipalités en remplacement d’impôts fonciers à l’égard des propriétés qui appartiennent au gouvernement. D’ici l’année prochaine, la province couvrira 100 $ du montant qui serait versé si la propriété était imposable.
    • 820 millions de dollars cette année et 2,5 milliards de dollars sur trois ans en dépenses en capital du cadre fiscal des administrations locales (Local Government Fiscal Framework) afin d’aider à financer les travaux d’infrastructures prioritaires.

    Budget 2025 : Soutenir le commerce et la diversification

    L’Alberta continue de favoriser la croissance économique et des politiques qui appuient la productivité. Par l’entremise du budget de 2025, le gouvernement de l’Alberta continuera de tirer parti des réussites actuelles en faisant ce qui suit :

    • Attirer plus d’investissements grâce à un faible taux d’imposition sur le revenu des sociétés. En Alberta, le taux de 8 % est de 30 % inférieur à celui de la province qui se classe deuxième.
    • Offrir de plus grands stimulants aux petites et moyennes entreprises qui augmentent leurs dépenses en recherche et développement, par l’entremise de la subvention pour l’emploi et l’innovation (Alberta’s Innovation Employment Grant).
    • Promouvoir l’Alberta en tant que partenaire fiable pour soutenir la sécurité énergétique nord-américaine et mondiale auprès des investisseurs. La province optimisera les infrastructures nouvelles et existantes afin d’accéder à de nouveaux marchés pour les ressources énergétiques et minérales de l’Alberta.
    • Soutenir les producteurs agricoles albertains et les transformateurs à valeur ajoutée de l’Alberta, s’attaquer aux obstacles au commerce en cultivant les marchés d’exportation et s’employer à améliorer l’accès au marché pour les produits de l’Alberta.
    • Renforcer la position de l’Alberta en tant que contributrice essentielle à la sécurité énergétique de l’Amérique du Nord en continuant de promouvoir notre secteur énergétique remarquable au Canada, aux États-Unis, en Allemagne, au Japon et dans le reste du monde.

    Budget 2025 : Investir dans les entreprises et les industries

    Le budget de 2025 continue de trouver des moyens de favoriser la croissance de l’économie albertaine en investissant dans les entreprises et les industries :

    • Soutien visant à attirer des investissements dans le secteur de l’énergie et des ressources minérales de sorte à accélérer les possibilités dans le domaine des ressources émergentes.
    • 45 millions de dollars sur trois ans pour le fonds d’investissement et de croissance (Investment and Growth Fund) en vue d’attirer des investissements dans l’économie albertaine.
    • 1,8 million de dollars versés à Western Crop Innovations au titre de la recherche de pointe sur les cultures.
    • 780 000 $ pour appuyer les petites et moyennes entreprises de transformation de viande.
    • 3,1 millions de dollars pour la Faculté de médecine vétérinaire de l’Université de Calgary en vue d’un agrandissement menant à un laboratoire de diagnostic vétérinaire complet. Les éleveurs de bétail et les vétérinaires auront alors accès à un diagnostic plus rapide, plus abordable et plus proche.

    « Le budget de 2025 bâtit une Alberta plus forte en développant les industries, en créant des emplois de haute qualité et en élargissant les possibilités offertes aux travailleurs et aux familles. Grâce à des investissements stratégiques en innovation, infrastructure et perfectionnement de la main-d’œuvre, l’Alberta relève le défi pour être plus forte pendant de nombreuses années à venir. »

    Matt Jones, ministre de l’Emploi, de l’Économie et du Commerce

    « Nous faisons progresser la recherche de point en agriculture et nous appuyons les petites et moyennes entreprises. De plus, nous renforçons notre infrastructure agricole pour offrir des services plus rapides et plus abordables aux éleveurs de bétail et aux vétérinaires. Nous soutenons l’innovation, nous attirons les investissements et nous bâtissons une économie résiliente pour l’avenir. »

    RJ Sigurdson, ministre de l’Agriculture et de l’Irrigation

    Le budget de 2025 relève le défi auquel fait face l’Alberta grâce à des investissements continus dans l’éducation et la santé, une baisse des impôts pour les familles et un accent sur l’économie.

    Renseignements connexes

    • Budget 2025

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    • Budget 2025: Meeting the challenge | Budget 2025 : Relever le défi (27 février 2025)
    • Budget 2025: Meeting the challenge in health and education | Budget 2025 :  Relever le défi dans la santé et l’éducation (27 février 2025)

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  • MIL-OSI Australia: Australian Deputy PM: $1.1 billion for a safer, more efficient Western Freeway

    Source: Minister of Infrastructure

    The Albanese Labor Government is building Australia’s future, boosting our nation’s productivity and connecting our region’s communities by investing in our highway network. 

    We’re investing $1.1 billion to upgrade Victoria’s Western Freeway – the major highway connecting Melbourne to Adelaide, and our regions to both cities. 

    This brings our total investment in the Western Freeway corridor to $2.1 billion.

    Approximately 86,000 vehicles travel the Western Freeway stretch between Melton and Caroline Springs every single day, with this figure expected to rise to approximately 113,000 by 2031.

    It’s a critical transport route for passengers and freight, which links with major freight routes throughout the state including Midland, Sunraysia, Pyrenees, Henty and Wimmera Highways.

    The investment will go towards improving capacity and safety along the freeway between Melton and Caroline Springs, with upgrades to be identified and prioritised between the Australian and Victorian governments from the jointly funded business case being finalised by the Victorian Government. 

    $100 million will be allocated towards planning and early works to upgrade the intersection of the freeway with Brewery Tap Road in Warrenheip.

    In addition, we’re providing $6.1 million towards two bridge strengthening upgrades between Stawell and the South Australian border. 

    The Albanese and Allan Governments will undertake bridge strengthening works at the Dimboola Bridge over the Melbourne-Adelaide Railway Line and Dadswells Bridge over the Mt William Creek Floodplain, reducing transit times and providing better efficiency of freight movements between rural industries and manufacturers, while allowing for industry growth and regional development.

    Construction of these bridge upgrades is expected to commence in 2025 and end by 2026. 

    The Albanese Government remains dedicated to working for all Australians by delivering nationally significant infrastructure projects that enhance productivity and resilience, improve liveability, and promote sustainability.  

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

    “We’re investing in the transport projects that matter most to Victorians, delivering a rail link to Melbourne Airport, fixing our regional and suburban roads, and strengthening our busiest freeways. 

    “We’re investing $2.1 billion in the Western Freeway corridor, $7 billion in the Melbourne Airport rail link, and $1 billion in a suburban road blitz because we care about our cities, our suburbs and our regions. 

    “The Liberals and Nationals starved Victorians of infrastructure funding over their decade in government, and we won’t let that happen again.”

    Quotes attributable to Federal Member for Gorton Brendan O’Connor: 

    “Those who regularly travel on this stretch of the Western Freeway know full well how much this $1 billion investment is needed. 

    “The Liberals ignored this for nine years while the traffic got heavier and the road conditions worsened. 

    “Only Labor Governments invest in the west.”

    MIL OSI News –

  • MIL-OSI Australia: $1.1 billion for a safer, more efficient Western Freeway

    Source: Australian Ministers for Regional Development

    The Albanese Labor Government is building Australia’s future, boosting our nation’s productivity and connecting our region’s communities by investing in our highway network. 

    We’re investing $1.1 billion to upgrade Victoria’s Western Freeway – the major highway connecting Melbourne to Adelaide, and our regions to both cities. 

    This brings our total investment in the Western Freeway corridor to $2.1 billion.

    Approximately 86,000 vehicles travel the Western Freeway stretch between Melton and Caroline Springs every single day, with this figure expected to rise to approximately 113,000 by 2031.

    It’s a critical transport route for passengers and freight, which links with major freight routes throughout the state including Midland, Sunraysia, Pyrenees, Henty and Wimmera Highways.

    The investment will go towards improving capacity and safety along the freeway between Melton and Caroline Springs, with upgrades to be identified and prioritised between the Australian and Victorian governments from the jointly funded business case being finalised by the Victorian Government. 

    $100 million will be allocated towards planning and early works to upgrade the intersection of the freeway with Brewery Tap Road in Warrenheip.

    In addition, we’re providing $6.1 million towards two bridge strengthening upgrades between Stawell and the South Australian border. 

    The Albanese and Allan Governments will undertake bridge strengthening works at the Dimboola Bridge over the Melbourne-Adelaide Railway Line and Dadswells Bridge over the Mt William Creek Floodplain, reducing transit times and providing better efficiency of freight movements between rural industries and manufacturers, while allowing for industry growth and regional development.

    Construction of these bridge upgrades is expected to commence in 2025 and end by 2026. 

    The Albanese Government remains dedicated to working for all Australians by delivering nationally significant infrastructure projects that enhance productivity and resilience, improve liveability, and promote sustainability.  

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

    “We’re investing in the transport projects that matter most to Victorians, delivering a rail link to Melbourne Airport, fixing our regional and suburban roads, and strengthening our busiest freeways. 

    “We’re investing $2.1 billion in the Western Freeway corridor, $7 billion in the Melbourne Airport rail link, and $1 billion in a suburban road blitz because we care about our cities, our suburbs and our regions. 

    “The Liberals and Nationals starved Victorians of infrastructure funding over their decade in government, and we won’t let that happen again.”

    Quotes attributable to Federal Member for Gorton Brendan O’Connor: 

    “Those who regularly travel on this stretch of the Western Freeway know full well how much this $1 billion investment is needed. 

    “The Liberals ignored this for nine years while the traffic got heavier and the road conditions worsened. 

    “Only Labor Governments invest in the west.”

    MIL OSI News –

  • MIL-OSI Security: Update 279 – IAEA Director General Statement on Situation in Ukraine

    Source: International Atomic Energy Agency – IAEA

    The presence of the International Atomic Energy Agency (IAEA) at Ukraine’s nuclear power plants (NPPs) remains an “invaluable asset” for the international community and must be preserved, Director General Rafael Mariano Grossi told Member States after the completion of a delayed team rotation at the Zaporizhzhya Nuclear Power Plant (ZNPP).

    “Difficult conditions have in the past month complicated and delayed the latest rotation of experts, which was safely completed in recent days,” Director General Grossi said in his written introductory statement to the IAEA Board of Governors, which is holding its regular March meeting this week.

    In December, a drone attack severely damaged an official IAEA vehicle during a rotation, and in February intense military activity forced the cancellation of the most recent planned rotation, which was finally concluded earlier this month. The current team at the ZNPP is the 27th since Director General Grossi established a continued IAEA presence at the site, where nuclear safety and security remains precarious.

    Director General Grossi emphasized that “all the IAEA’s activities in Ukraine are being conducted in line with relevant resolutions of the UN General Assembly and of the IAEA policy-making organs”.

    At the ZNPP, the IAEA team has continued to hear explosions on most days over the past week, at varying distances.

    The IAEA team at the ZNPP was informed that scheduled maintenance of part of the safety system of reactor unit 1 had been completed and returned to service. At the same time, maintenance began at another part of the same reactor’s safety system.

    At the Chornobyl site, firefighters have made progress in extinguishing the fire on the roof of the New Safe Confinement (NSC) caused by a drone strike on 14 February. The IAEA team at the site was informed that no smouldering fires had been detected over the past two days. The site continues to use thermal imaging and surveillance drones to monitor the structure.

    The Chornobyl site has continued to perform frequent radiation monitoring and report the results to the IAEA team. The IAEA team has also undertaken its own independent monitoring. To date, all monitoring results have shown that there has not been any increase in the normal range of radiation levels measured at the site nor any abnormal readings detected.

    The IAEA team at the Chornobyl site also reported multiple air raid alarms during the past week. In addition, the IAEA was informed by the Ukrainian regulator that the site recorded drone flights in the area early on 1 March.

    Last week, a team of IAEA experts conducted another round of visits to seven electrical substations identified as critical for nuclear safety and security in Ukraine.

    As during the previous visits last year, the team observed the current status of the substations and collected relevant information to assess any potential impacts of attacks in recent months to the safe operation of Ukraine’s nuclear facilities and to identify any further technical assistance that could be provided by the IAEA.

    The IAEA teams at Ukraine’s operating NPPs – Khmelnytskyy, Rivne and South Ukraine – have continued to monitor the nuclear safety and security situation at these sites. The teams report hearing air raid alarms on most days, with the team at the Khmelnytskyy NPP having to shelter at the site on Monday. One reactor unit at the same plant last weekend began a planned outage for refuelling and maintenance.

    Separately, the IAEA has continued with its comprehensive programme of nuclear safety and security assistance to Ukraine, with three new deliveries of equipment bringing the total number since the start of the armed conflict to 111.

    The Hydrometeorological Centre and Hydrometeorological Organizations of the State Emergency Services of Ukraine received survey meters, the Centralised Spent Fuel Storage Facility of Energoatom received thermal imaging cameras and the medical unit of the Khmelnytskyy NPP received medical equipment and supplies. The deliveries were supported with funds provided by the European Union, Norway and the United States.

    “We are grateful to all 30 donor states and the European Union for their extrabudgetary contributions, and I encourage those who can, to support the delivery of the comprehensive assistance programme, for which EUR 22 million are still necessary,” Director General Grossi told the Board.

    MIL Security OSI –

  • MIL-OSI USA: Kaine, Klobuchar & Warner Unveil Legislation to Undo President Trump’s Senseless Taxes on Canadian Goods

    US Senate News:

    Source: United States Senator for Virginia Tim Kaine

    WASHINGTON, D.C. – Today, U.S. Senators Tim Kaine, Ranking Member of the Senate Foreign Relations Subcommittee on the Western Hemisphere, (D-VA), Amy Klobuchar (D-MN), and Mark R. Warner (D-VA) unveiled legislation to undo President Donald Trump’s wildly unpopular tariffs on Canadian goods, which amount to a 25 percent tax on goods imported from one of America’s top trading partners and closest allies.

    “Americans want prices to go down—not skyrocket, which is exactly what will happen if Congress lets President Trump slap new taxes on goods from one of our largest trading partners and closest allies,” said Kaine. “We don’t need to guess what kind of damage these senseless new taxes will do. During Trump’s first term, his trade wars spelled disaster for Virginians, particularly for farmers and foresters who were hit especially hard. Congress has a responsibility to stop that from happening again, and I urge all of my colleagues to join me in blocking Trump from destroying our economy.”

    “This Administration is igniting a reckless trade war and regular Americans are paying the price,” said Klobuchar. “Costs for everyone will go up and our farmers and businesses will suffer. Canada is Minnesota’s top trading partner and is a key U.S. ally. We must reverse these damaging tariffs before it’s too late.”

    “Virginians can’t afford the cost of President Trump’s tariffs, which will raise prices on everything from groceries to houses and cars,” said Warner. “Congress must step in before President Trump tanks our economy.” 

    In Virginia in 2024, Canada was the largest export market and accounted for 15 percent of Virginia exports. In Virginia in 2022, top goods exports to Canada included motor vehicles and transportation equipment, such as medium- and heavy-duty trucks. 56.1 percent of Southwest Virginia’s economic output is dependent on trade.

    Polls have overwhelmingly demonstrated that the American people do not support Trump’s trade wars. According to a recent survey by Public First, just 28 percent of American adults supported specifically applying tariffs to Canada, while 43 percent opposed.

    Specifically, the senators’ legislation would work by terminating the February 1 emergency that Trump used to launch his trade war with Canada, and thus eliminate the tariffs on Canadian imports implemented as a result. Trump’s order cites the International Economic Emergency Powers Act (IEEPA), an unprecedented use of IEEPA in its nearly half century history. After an initial one-month delay, President Trump decided to move forward with the tariffs, with the import taxes starting to be collected on March 4, 2025. In total, President Trump’s IEEPA tariffs will cost the average American household up to $2,000 a year, with the Canada tariffs making up a significant portion of that. These IEEPA tariffs represent the largest tax increase on American families in recent history.

    Full text of the legislation is available here.

    MIL OSI USA News –

  • MIL-OSI: GraniteShares ETFs Announces Name Change and Investment Objectives on some of its Short and Leveraged ETFs

    Source: GlobeNewswire (MIL-OSI)

    New York, March 05, 2025 (GLOBE NEWSWIRE) — GraniteShares today announced plans to amend the names and leverage factors for some of its short and leverage ETFs (the “Funds”). The change in leverage factor results in a modification of the investment strategy.

    Effective May 04, 2025, the Funds will aim to replicate +2, -2 or -1 times the daily variations of their underlying stocks. One of the Funds already trades on the NASDAQ. The Fund’s CUSIP and ticker are not expected to change.

    TICKER SYMBOL   CURRENT FUND NAME   NEW FUND NAME   CURRENT LEVERAGE FACTOR*   NEW LEVERAGE FACTOR*
    AMCL(1)   GraniteShares 1x Short AMC Daily ETF   GraniteShares 2x Long AMC Daily ETF   -100 %   200 %
    ARML(1)   GraniteShares 1x Short ARM Daily ETF   GraniteShares 2x Long ARM Daily ETF   -100 %   200 %
    GMEL(1)   GraniteShares 1x Short GME Daily ETF   GraniteShares 2x Long GME Daily ETF   -100 %   200 %
    MSTP(1)   GraniteShares 1x Short MSTR Daily ETF   GraniteShares 2x Long MSTR Daily ETF   -100 %   200 %
    CONI(2)(3)   GraniteShares 1x Short COIN Daily ETF   GraniteShares 2x Short COIN Daily ETF   -100 %   -200 %
    TSS(2)   GraniteShares 1.25x Short TSLA Daily ETF   GraniteShares 1x Short TSLA Daily ETF   -125 %   -100 %
    CURRENT
    FUND NAME    		   CURRENT INVESTMENT OBJECTIVE   NEW INVESTMENT OBJECTIVE
    GraniteShares 1x Short AMC Daily ETF (1)   The Fund seeks daily inverse investment results of -1 time (-100%) the daily percentage change of the common stock of AMC Entertainment Holdings, Inc. (NYSE: AMC).   The Fund seeks daily investment results of 2 times (200%) the daily percentage change of the common stock of AMC Entertainment Holdings, Inc. (NYSE: AMC).
             
    GraniteShares 1x Short ARM Daily ETF (1)   The Fund seeks daily inverse investment results of -1 time (-100%) the daily percentage change of the ADR of Arm Holdings (NASDAQ: ARM).   The Fund seeks daily investment results of 2 times (200%) the daily percentage change of the ADR of Arm Holdings (NASDAQ: ARM).
             
    GraniteShares 1x Short GME Daily ETF (1)   The Fund seeks daily inverse investment results of 1 time (-100%) the daily percentage change of the common stock of GameStop Corp (NYSE: GME).   The Fund seeks daily investment results of 2 times (200%) the daily percentage change of the common stock of GameStop Corp (NYSE: GME).
             
    GraniteShares 1x Short MSTR Daily ETF (1)   The Fund seeks daily inverse investment results of 1 time (-100%) the daily percentage change of the common stock MicroStrategy Inc. (NASDAQ: MSTR).   The Fund seeks daily investment results of 2 times (200%) the daily percentage change of the common stock MicroStrategy Inc. (NASDAQ: MSTR).
             
    GraniteShares 1x Short COIN Daily ETF (2), (3)   The Fund seeks daily inverse investment results of -1 time (-100%) the daily percentage change of the common stock of Coinbase Global, Inc. Class A (NASDAQ: COIN).   The Fund seeks daily inverse investment results of -2 times (-200%) the daily percentage change of the common stock of Coinbase Global, Inc. Class A (NASDAQ: COIN).
             
    GraniteShares 1.25x Short TSLA Daily ETF (2)   The Fund seeks daily investment results, before fees and expenses, of -1.25 times (-125%) the daily percentage change of the common stock of Tesla Inc, (NASDAQ: TSLA).   The Fund seeks daily investment results, before fees and expenses, of -1 time (-100%) the daily percentage change of the common stock of Tesla Inc, (NASDAQ: TSLA).
             

    (1) Issued under the registration statement dated October 25, 2024
    (2) Issued under the registration statement dated October 18, 2024
    (3) Fund currently traded on NASDAQ

    Capitalized terms and certain other terms used in this Supplement, unless otherwise defined in this Supplement, have the meanings assigned to them in the Prospectus.

    About GraniteShares

    GraniteShares is an independent ETF issuer headquartered in New York City.

    GraniteShares current ETF offering is presented below:

    ETF NAME   TICKER     UNDERLYING STOCK   MANAGEMENT FEE/TOTAL EXPENSES  
    GraniteShares 2x Long AAPL Daily ETF     AAPB     Apple     0.99%/1.15 %
    GraniteShares 2x Long AMD Daily ETF     AMDL     AMD     0.99%/1.15 %
    GraniteShares 1x Short AMD Daily ETF     AMDS     AMD     0.99%/1.15 %
    GraniteShares 2x Long AMZN Daily ETF     AMZZ     Amazon     0.99%/1.15 %
    GraniteShares 2x Long BABA Daily ETF     BABX     Alibaba     0.99%/1.15 %
    GraniteShares 2x Long COIN Daily ETF     CONL     Coinbase     0.99%/1.15 %
    GraniteShares 1x Short COIN Daily ETF     CONI     Coinbase     0.99%/1.15 %
    GraniteShares 2x Long CRWD Daily ETF     CRWL     CrowdStrike     1.30%/1.50 %
    GraniteShares 2x Long DELL Daily ETF     DLLL     Dell     1.30%/1.50 %
    GraniteShares 2x Long META Daily ETF     FBL     Meta     0.99%/1.15 %
    GraniteShares 2x Long INTC Daily ETF     INTW     Intel     1.30%/1.50 %
    GraniteShares 2x Long INTC Daily ETF     MSFL     Microsoft     0.99%/1.15 %
    GraniteShares 2x Long MU Daily ETF     INTW     Micron Technology     1.30%/1.50 %
    GraniteShares 2x Long NVDA Daily ETF     NVDL     NVIDIA     0.99%/1.15 %
    GraniteShares 2x Short NVDA Daily ETF     NVD     NVIDIA     0.99%/1.15 %
    GraniteShares 2x Long PLTR Daily ETF     PTIR     Palantir     0.99%/1.15 %
    GraniteShares 2x Short QCOM Daily ETF     QCML     Qualcomm     1.30%/1.50 %
    GraniteShares 2x Long TSLA Daily ETF     TSLR     Tesla     0.95 %
    GraniteShares 1.25x Long TSLA Daily ETF     TSL     Tesla     0.99%/1.15 %
    GraniteShares 2x Short TSLA Daily ETF     TSDD     Tesla     0.95 %
    GraniteShares 2x Short TSM Daily ETF     TSMU     Taiwan Semiconductor     1.30%/1.50 %
    GraniteShares 2x Short UBER Daily ETF     UBRL     Uber     1.30%/1.50 %
                         
    ETF NAME   TICKER     EXPOSURE   MANAGEMENT FEE/TOTAL EXPENSES  
    GraniteShares YieldBOOST QQQ ETF     TQQY     Income on Nasdaq-100     0.99%/1.15 %
    GraniteShares YieldBOOST SPY ETF     YSPY     Income on S&P 500     0.99%/1.15 %
    GraniteShares YieldBOOST TSLA ETF     TSYY     Income on TSLA     0.99%/1.15 %
    ETF NAME   TICKER     EXPOSURE   MANAGEMENT FEE/TOTAL EXPENSES  
    GraniteShares Gold Trust     BAR     Gold     0.17 %
    GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF     COMB     Broad Commodities     0.25 %
    GraniteShares HIPS US High Income ETF     HIPS     High Income     0.70%/3.19 %
    GraniteShares Platinum Trust     PLTM     Platinum     0.50 %
    GraniteShares Nasdaq Select Disruptors ETF     DRUP     U.S. Large Cap     0.60 %
                         

    Gregory FCA for GraniteShares
    Kathleen Elicker, 484-889-6597
    graniteshares@gregoryfca.com

    Important Information

    Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Funds, please call (844) 476 8747 or visit www.graniteshares.com. Read the prospectus or summary prospectus carefully before investing.

    The investment program of the funds is speculative, entails substantial risks and include asset classes and investment techniques not employed by more traditional mutual funds.

    PRINCIPAL FUND RISKS (see the Prospectus for more information)

    GraniteShares Leveraged Long and Inverse Daily ETFs are not suitable for all investors. The funds seek daily leveraged investment results and are intended to be used as short-term trading vehicles. The funds pursue daily leveraged investment objectives, which means that the funds are riskier than alternatives that do not use leverage because the fund magnifies the performance of the underlying security. The volatility of the underlying security may affect the fund return as much as, or more than, the return of the underlying security. Investors who do not understand the Funds, or do not intend to actively manage their funds and monitor their investments, should not buy the Funds. The Funds are designed to be utilized only by traders and sophisticated investors who understand the potential consequences of seeking daily inverse and/or leveraged investment results, understand the risks associated with the use of leverage and/or short sales and are willing to monitor their portfolios frequently. For periods longer than a single day, the Funds will lose money if the underlying stock’s performance is flat, and it is possible that the Funds will lose money even if the underlying stock’s performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day. The Funds track the price of a single stock rather than an index, eliminating the benefits of diversification that most mutual funds and exchange-traded funds offer. Although the Funds will be listed and traded on an exchange, an investment in a Fund may not be suitable for every investor. The Funds pose risks that are unique and complex.

    This information is not an offer to sell or a solicitation of an offer to buy shares of any Funds to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.

    THE FUNDS AREDISTRIBUTED BY ALPS DISTRIBIUTORS, INC. GRANITESHRES IS NOT AFFILIATED WITH ALPS DISTRIBUTORS, INC

    The MIL Network –

  • MIL-OSI: Amplify Energy Announces Fourth Quarter and Full-Year 2024 Results, Year-End 2024 Proved Reserves, Juniper Capital Acquisition Update and Standalone Full-Year 2025 Guidance

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, March 05, 2025 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (“Amplify,” the “Company,” “us,” or “our”) announced today its operating and financial results for the fourth quarter and full-year 2024, year-end 2024 proved reserves, Juniper Capital (“Juniper”) acquisition update and full-year 2025 standalone guidance for the Company.

    Key Highlights

    • 2025 strategic initiatives include:
      • Completing the previously announced transformational combination with certain Juniper portfolio companies which own substantial oil-weighted producing assets and significant leasehold interests in the DJ and Powder River Basins (the “Transaction”) and integrating such assets into our operations
      • Continuing the Beta development program with six completions planned for 2025 including the C-48 and the A-45 which were deferred from the 2024 program
      • Expanding Magnify Energy Services, a wholly owned subsidiary of Amplify (“Magnify”), to enhance Amplify’s competitive advantage in operating our mature assets located in East Texas and Oklahoma
      • Creating incremental value in East Texas by monetizing portions of our portfolio and/or participating in joint development opportunities focused within the Haynesville formation
    • During the fourth quarter of 2024, the Company:
      • Achieved average total production of 18.5 MBoepd
      • Generated net cash provided by operating activities of $12.5 million and a net loss of $7.4 million
      • Delivered Adjusted EBITDA of $21.8 million and Adjusted Net Income of $5.1 million
      • Generated $2.9 million of free cash flow
      • Completed the sale of undeveloped Haynesville acreage in East Texas for $1.4 million
    • For full-year 2024, the Company:
      • Achieved average total production of 19.5 MBoepd
      • Generated net cash provided by operating activities of $51.3 million and net income of $12.9 million
      • Delivered Adjusted EBITDA of $103.0 million and Adjusted Net Income of $35.8 million
      • Generated $18.0 million of free cash flow
      • Renegotiated prior surety bonds and reduced sinking fund payments by approximately $7.0 million per year
      • Initiated development drilling program at Beta, with the completion of two wells, which outperformed type curves
      • Generated $3.1 million of Adjusted EBITDA at Magnify
      • Renegotiated the iodine contract in Oklahoma, increasing annual Adjusted EBITDA by $2.4 million
    • Amplify’s year-end 2024 total proved reserves, utilizing Securities and Exchange Commission (“SEC”) pricing of $75.48/Bbl for oil and NGLs and $2.13/MMBtu for natural gas, totaled 93 MMBoe and had a PV-10 value of approximately $736 million
    • As of December 31, 2024, Amplify had $127.0 million outstanding under the revolving credit facility
      • Net Debt to Last Twelve Months (“LTM”) Adjusted EBITDA of 1.2x1
         
      (1) Net debt as of December 31, 2024, consisting of $127 MM outstanding under its revolving credit facility with ~$0.0 MM of cash and cash equivalents, and LTM Adjusted EBITDA as of the fourth quarter of 2024.
         

    Martyn Willsher, Amplify’s President and Chief Executive Officer, commented, “In early 2024, we told stakeholders that 2024 had the potential to be a transformative year for the Company, and we believe that we delivered on that expectation throughout the year. The recently announced transaction with Juniper Capital expands our operations into the DJ and Powder River Basins, increases our scale, operating efficiency and margins, improves our inventory of attractive drilling locations, and provides us with a new core area for potential M&A activity. The transaction also resulted in a new long-term partnership with Juniper Capital, who have a long history of delivering substantial value to shareholders. At Beta, we safely and successfully initiated a drilling program, which has increased our confidence regarding the future inventory of the field and has enabled us to expand our development plans for this prolific asset in 2025 and beyond.”

    Mr. Willsher continued, “While we have focused our attention and resources on these two significant initiatives, our team has also delivered value to stockholders by pursuing opportunities to reduce operating expenses and maximize the value of our existing asset base. For example, Magnify Energy Services, our wholly owned subsidiary that provides oilfield services to Amplify-operated wells, expanded meaningfully in scope, realizing a significant increase in revenue and efficiency and reducing operating costs in East Texas and Oklahoma. We also renegotiated several existing contracts, like our iodine extraction contract, to receive improved economics. Although smaller in scope, these efforts have demonstrated management’s commitment to identifying areas to improve our operations and deliver value to stockholders. On the value maximizing front, we were able to monetize a portion of our acreage with Haynesville rights for several million dollars, while retaining an interest to realize upside value.”

    Mr. Willsher concluded, “We believe that our strategic and operational accomplishments in 2024 set the foundation for Amplify’s future and that in 2025 we will begin to capitalize on the growth potential of this significantly enhanced asset base.  By delivering on our 2025 strategic initiatives, we believe we can create immediate and long-term value for Amplify’s stockholders.”

    Juniper Capital Rocky Mountain Assets Update

    On January 15, 2025, Amplify announced that it has entered into a definitive merger agreement with privately held Juniper to combine with certain Juniper portfolio companies owning assets and leasehold interests in the DJ and Powder River Basins. Such portfolio companies are oil-weighted and include approximately 287,000 net acres. We expect to close the acquisition in the second quarter of 2025. Amplify has provided more information on the portfolio companies and their assets and the value potential of the Transaction in its latest investor presentation, available on its investor relations website.

    On March 4, 2025, a definitive proxy statement was filed providing additional details on the Transaction. A special meeting of stockholders, to be held virtually, has been scheduled for April 14, 2025, at 9:00 am Central Time, where stockholders of record as of March 3, 2025 can vote to approve the issuance of common stock, par value $0.01 per share (the “Common Stock”) (as described in more detail in the definitive proxy statement) in connection with the Transaction. In order to virtually attend, stockholders must register in advance at www.cesonlineservices.com/ampysm_vm prior to April 13, 2025 at 9:00 a.m. Central Time. More information can be found in the definitive proxy statement on the SEC’s website at www.sec.gov and the Company’s website, www.amplifyenergy.com, under the Investor Relations section. Upon approval from our stockholders of the issuance of Common Stock and the resulting closing of the Transaction, Amplify and Juniper are expected to own approximately 61% and 39%, respectively, of the combined company’s outstanding equity.

    In anticipation of closing, Amplify is currently working with Juniper and its portfolio companies on integrating the Juniper assets into the Amplify organization. Furthermore, the Company expects to refinance a substantial portion of its outstanding debt and approximately $133 million in principal amount of the portfolio companies’ outstanding debt prior to closing the Transaction. Amplify intends to update the market with developments of the Transaction as they progress.

    East Texas Haynesville Monetization Update

    Starting in 2024, several operators expressed increased interest in buying or partnering with Amplify on our East Texas Haynesville interests. In December 2024, Amplify monetized ninety percent (90%) of its interests in certain units with Haynesville rights in Panola and Shelby Counties, while retaining a ten percent (10%) working interest and the ability to participate in any well drilled within the boundary of such units. Upon closing, such transaction generated approximately $1.4 million in proceeds.

    In January 2025, Amplify completed a second transaction with a separate counterparty. Amplify sold ninety percent (90%) of its interest in certain units with Haynesville rights in Harrison County, Texas, in addition to 11 gross operated wells. This transaction also established an Area of Mutual Interest (“AMI”) with the counterparty covering 10,000 gross acres. Amplify retained a ten percent (10%) working interest in the units it divested and purchased a ten percent (10%) working interest in the counterparty’s acreage. Amplify generated net proceeds of $6.2 million from these transactions and estimates the AMI has more than 30 potential gross drilling locations.

    2024 Year-End Proved Reserve Update

    The Company’s estimated proved reserves at SEC pricing for year-end 2024 totaled 93.0 MMBoe, which consisted of 82.2 MMBoe of proved developed reserves and 10.8 MMBoe of proved undeveloped reserves. Proved developed reserves were lower year-over-year, primarily due to lower SEC pricing for oil and natural gas, which fell from $78.22 to $75.48 for oil and from $2.64 to $2.13 for natural gas, and the impact of 2024 production roll-off. Total proved reserves were comprised of 44% oil, 19% NGLs, and 37% natural gas.

    At year-end 2024, Amplify’s total proved reserves and proved developed reserves had PV-10 values of approximately $736 million and $507 million, respectively, using SEC pricing. Proved developed reserve value at Bairoil was lower than 2023 due to a combination of SEC pricing, production performance and higher operating cost assumptions due to significant increases in regulated electricity rates. Proved undeveloped reserves have increased materially as a result of the successful 2024 Beta development program, with the Company adding 23 additional locations and approximately $200 million in PV-10 value. The initial production rates for the two Beta wells brought on-line in 2024 exceeded the type-curves included in our year-end reserve report, and Amplify will consider increasing the type curve assumptions for Beta development wells after evaluating results from the 2025 development program. Detail on the Company’s reserves by asset is provided in the table below. Additionally, Amplify has provided more information on its Beta development program and the substantial value potential of the field in its latest investor presentation, available on its investor relations website.

      Estimated Net Reserves1
    Region MMBoe % Oil and NGL Proved Developed PV-10 Proved Undeveloped PV-10 Total Proved PV-10
          (in millions)
               
    Beta 19.1 100% $144 $214 $358
    Oklahoma 27.0 46% 138 – 138
    Bairoil 16.4 100% 118 – 118
    East Texas/ North Louisiana 28.0 30% 75 4 79
    Eagle Ford (Non-op) 2.5 90% 32 11 43
               
    Total 93.0 63% $507 $229 $736
    (1) Amplify’s year-end 2024 total proved reserves, utilizing SEC pricing of $75.48/Bbl for oil and NGLs and $2.13/MMBtu for natural gas.
       

    Amplify’s reserves estimates were prepared by its third-party independent reserve consultant, Cawley, Gillespie & Associates, Inc.

    Key Financial Results

    During the fourth quarter of 2024, the Company reported a net loss of approximately $7.4 million. The net loss was primarily attributable to a non-cash unrealized loss on commodity derivatives during the period. Excluding the impact of the non-cash unrealized loss on commodity derivatives in addition to other one-time impacts, Amplify generated Adjusted Net Income of $5.1 million in the fourth quarter of 2024.

    Fourth quarter Adjusted EBITDA was $21.8 million, a decrease of approximately $3.7 million from $25.5 million in the prior quarter. The decrease was primarily due to lower realized oil prices (net of hedges) in the fourth quarter compared to the prior quarter.

    Free cash flow was $2.9 million for the fourth quarter, a decrease of $0.7 million compared to the prior quarter. Amplify has now generated positive free cash flow in 18 of the last 19 fiscal quarters.

      Fourth Quarter Third Quarter
    $ in millions 2024   2024  
    Net income (loss)   ($7.4 )   $22.7  
    Net cash provided by operating activities   $12.5     $15.7  
    Average daily production (MBoe/d)   18.5     19.0  
    Total revenues excluding hedges   $69.0     $69.9  
    Adjusted EBITDA (a non-GAAP financial measure)   $21.8     $25.5  
    Adjusted net income (loss), (a non-GAAP financial measure)   $5.1     $9.8  
    Total capital   $15.3     $18.2  
    Free Cash Flow (a non-GAAP financial measure)   $2.9     $3.6  
         

    Revolving Credit Facility

    As of December 31, 2024, Amplify had $127.0 million outstanding under its revolving credit facility, and net debt to LTM Adjusted EBITDA was 1.2x (net debt as of December 31, 2024 and 4Q24 LTM Adjusted EBITDA). Fourth quarter net debt increased from the prior quarter due to expected changes in working capital and increased development activity, primarily at Beta.

    Corporate Production and Pricing

    During the fourth quarter of 2024, average daily production was approximately 18.5 Mboepd, a decrease of 0.5 Mboepd from the prior quarter. The decrease in production was driven by gas volumes, which were impacted by gas plant realizations in East Texas. Our oil volumes, although slightly higher compared to the prior quarter, were impacted by platform shutdowns following the completion of the emission reduction and electrification facility projects and several unexpected well failures and subsequent interventions at Beta. With the successful completion of the electrification and emissions reduction project in the fourth quarter 2024 and the intervention projects completed by end of January 2025, we are projecting Beta production to be significantly higher than the fourth quarter, before the impact of the 2025 drilling program. As of March 2, 2025, current 7-day average production rates at Beta were 4,834 gross Bopd (3,635 net Bopd), representing an approximate 9% increase from fourth quarter 2024 volumes, with minimal contribution from the recently completed C48 well, which we continue to draw down since completing in mid-February.

    The Company’s product mix for the quarter was 45% crude oil, 17% NGLs, and 38% natural gas.

      Three Months   Three Months
      Ended   Ended
      December 31, 2024   September 30, 2024
           
    Production volumes – MBOE:      
    Bairoil   293       294  
    Beta   308       304  
    Oklahoma   436       454  
    East Texas / North Louisiana   609       638  
    Eagle Ford (Non-op)   60       62  
    Total – MBoe   1,706       1,752  
    Total – MBoe/d   18.5       19.0  
    % – Liquids   62 %     60 %
           

    Total oil, natural gas and NGL revenues for the fourth quarter of 2024 were approximately $67.2 million, before the impact of derivatives. The Company realized a net gain on commodity derivatives of $4.1 million during the fourth quarter. Oil, natural gas and NGL revenues, net of realized hedges, decreased $3.3 million for the fourth quarter compared to the prior quarter.

    The following table sets forth information regarding average realized sales prices for the periods indicated:

      Crude Oil ($/Bbl) NGLs ($/Bbl) Natural Gas ($/Mcf)
                           
      Three Months Ended December 31, 2024   Three Months Ended September 30, 2024   Three Months Ended December 31, 2024   Three Months Ended September 30, 2024   Three Months Ended December 31, 2024   Three Months Ended September 30, 2024
                           
    Average sales price exclusive of realized derivatives and certain deductions from revenue $ 66.82     $ 71.74     $ 23.46     $ 21.63     $ 2.52     $ 1.84  
    Realized derivatives   1.43       (0.24 )     –       –       0.76       1.38  
                           
    Average sales price with realized derivatives exclusive of certain deductions from revenue $ 68.25     $ 71.50     $ 23.46     $ 21.63     $ 3.28     $ 3.22  
    Certain deductions from revenue   –       –       (1.37 )     (1.33 )     (0.01 )     0.00  
                           
    Average sales price inclusive of realized derivatives and certain deductions from revenue $ 68.25     $ 71.50     $ 22.09     $ 20.30     $ 3.27     $ 3.22  
                           

    Costs and Expenses

    Lease operating expenses in the fourth quarter of 2024 were approximately $35.1 million, or $20.57 per Boe, a $1.8 million increase compared to the prior quarter. Due to increased well failures in the fourth quarter, Beta lease operating costs were higher compared to the prior quarter. Lease operating expenses do not reflect $0.9 million of income generated by Magnify in the fourth quarter.

    Severance and ad valorem taxes in the fourth quarter were approximately $5.4 million, a decrease of $0.6 million compared to $6.0 million in the prior quarter, and in line with expectations. Severance and ad valorem taxes as a percentage of revenue were approximately 8.0% in the fourth quarter.

    Amplify incurred $4.5 million, or $2.62 per Boe, of gathering, processing and transportation expenses in the fourth quarter, compared to $4.3 million, or $2.45 per Boe, in the prior quarter.

    Cash G&A expenses in the fourth quarter were $6.3 million, an increase of $0.1 million compared to the prior quarter and in-line with expectations.

    Depreciation, depletion and amortization expense in the fourth quarter totaled $8.4 million, or $4.93 per Boe, compared to $8.1 million, or $4.62 per Boe, in the prior quarter.

    Net interest expense was $3.7 million in the fourth quarter, a decrease of $0.1 million compared to $3.8 million in the prior quarter.

    Amplify recorded a current income tax benefit of $2.1 million in the fourth quarter.

    Fourth Quarter and Full-Year Capital Investments

    Cash capital investment during the fourth quarter of 2024 was approximately $15.3 million. During the fourth quarter, the Company’s capital allocation was approximately 65% for Beta development drilling and facility projects, with the remainder distributed across the Company’s other assets.

    The following table details Amplify’s capital invested during the fourth quarter of 2024:

      Fourth Quarter   Full-Year
      2024 Capital   2024 Capital
      ($ MM)   ($ MM)
    Bairoil $ 0.2     $ 2.9  
    Beta $ 10.0     $ 53.7  
    Oklahoma $ 0.1     $ 3.2  
    East Texas / North Louisiana $ 2.8     $ 5.6  
    Eagle Ford (Non-op) $ 2.1     $ 4.1  
    Magnify Energy Services $ 0.1     $ 1.1  
    Total Capital Invested $ 15.3     $ 70.6  
           

    2025 Operations & Development Plan

    The following table details Amplify’s 2025 projected capital investments of $70 – $80 million:

    Capital Investment by Type (% of Total):  
    Beta Development 41 %
    Beta Facility 16 %
    Workovers & Other Facilities 25 %
    Non-op Development 18 %
    Total Capital Investments: 100 %
         

    Amplify’s 2025 operations and development plan is designed to continue unlocking the underlying value of the Company’s assets. To achieve this goal, we intend to 1) continue our development program at Beta, 2) execute on low-cost, high-return workover projects, and 3) reduce operating costs by increasing activity at Magnify.

    At Beta, Amplify intends to complete six wells in 2025. The C48 well, the first of the six wells to be completed in 2025, was drilled in the fourth quarter of 2024 and completed in mid-February. Similar to the A50 and C59 wells drilled in 2024, the completion of the C48 well was initially designed to target the D-sand. However, drilling conditions encountered in the D-sand and the quality of the C-Sand observed while drilling through the formation, led the team to alter the completion design and target the C-sand instead. The C48 will be the first test of the horizontal potential of the C-sand and we will share the results of the C48 well after obtaining sufficient initial production data.

    In 2024 Amplify brought online two new wells at Beta, the A50 well (brought online in June) and the C59 well (brought online in October), both of which exceeded internal projections and increased Beta’s overall production approximately 15% in January 2025 compared to January of 2024. Similarly, the six Beta completions planned in 2025 are expected to significantly increase Amplify’s oil production year-over-year. Additional information regarding the Beta development plan can be found in the investor presentation on the Company’s investor relations website.

    In addition to drilling and completing the six wells, Amplify intends to make continued investments in Beta’s facilities. In 2025, the Company expects to invest approximately $8 million to upgrade a 2-mile pipeline that ships all produced fluid from platform Eureka to platform Elly.

    At Bairoil, we continue to focus on enhancing water-alternating-gas injection performance through targeted well recompletions and conversions, which helps offset the asset’s nominal production declines. Our plan also includes an investment at our CO2 gas plant intended to reduce overall power usage and lease operating expenses in the second half of 2025.

    Amplify’s operating strategy in Oklahoma remains focused on prioritizing a stable free cash flow profile by managing production through an active workover program, artificial lift enhancements, extending well run-times and continuing to reduce operating costs.

    In East Texas, we are participating in the completion of four non-operated development projects, which we expect to be online by mid-year. The Company also continues to focus on prudent management of the field, such as optimizing field compression, artificial lift enhancement, and equipment insourcing, which is expected to improve the production profile and lower lease operating costs.

    In late 2023, we formed Magnify to in-source specific oilfield services to improve service reliability and to reduce overall operating expenses for the Company. Since its inception, Magnify has generated $3.7 million of Adjusted EBITDA with a capital investment of only $1.7 million. In 2025, we expect to invest an additional $1.4 million of capital in Magnify and project 2025 Adjusted EBITDA of approximately $5 million (with an annualized run rate of $6 million by year-end). We are evaluating additional accretive services for Magnify to service Amplify operated assets.

    In the Eagle Ford, we are participating in 14 gross (0.7 net) new development wells and two gross (0.4 net) recompletion projects. These non-operated wells, with highly accretive returns, are currently scheduled to be completed in the first half of 2025.

    Full-Year 2025 Guidance

    The following standalone guidance is subject to the cautionary statements and limitations described under the “Forward-Looking Statements” caption at the end of this press release. Amplify’s 2025 guidance is based on its current expectations regarding capital investment levels and flat commodity prices for crude oil of $71/Bbl (WTI) and natural gas of $3.75/MMBtu (Henry Hub), and on the assumption that market demand and prices for oil and natural gas will continue at levels that allow for economic production of these products. Additionally, the Company expects to invest approximately 90% of its capital in the first three quarters of the year primarily in connection with the Beta development program. Upon closing of the Transaction with Juniper, the Company will provide updated guidance to include the acquired assets.

    A summary of the standalone guidance is presented below:

      FY 2025E
           
      Low   High
           
    Net Average Daily Production      
    Oil (MBbls/d) 8.5 – 9.4
    NGL (MBbls/d) 3.0 – 3.3
    Natural Gas (MMcf/d) 45.0 – 51.0
    Total (MBoe/d) 19.0 – 21.0
           
    Commodity Price Differential / Realizations (Unhedged)      
    Oil Differential ($ / Bbl) ($3.25) – ($4.25)
    NGL Realized Price (% of WTI NYMEX) 27% – 31%
    Natural Gas Realized Price (% of Henry Hub) 85% – 92%
           
    Other Revenue      
    Magnify Energy Services ($ MM) $4 – $6
    Other ($ MM) $2 – $3
    Total ($ MM) $6 – $9
           
    Gathering, Processing and Transportation Costs      
    Oil ($ / Bbl) $0.65 – $0.85
    NGL ($ / Bbl) $2.75 – $4.00
    Natural Gas ($ / Mcf) $0.55 – $0.75
    Total ($ / Boe) $2.25 – $2.85
           
    Average Costs      
    Lease Operating ($ / Boe) $18.50 – $20.50
    Taxes (% of Revenue) (1) 6.0% – 7.0%
    Cash General and Administrative ($ / Boe) (2)(3) $3.40 – $3.90
           
    Adjusted EBITDA ($ MM) (2)(3) $100 – $120
    Cash Interest Expense ($ MM) $12 – $18
    Capital Expenditures ($ MM) $70 – $80
    Free Cash Flow ($ MM) (2)(3) $10 – $30
           
    (1) Includes production, ad valorem and franchise taxes
    (2) Refer to “Use of Non-GAAP Financial Measures” for Amplify’s definition and use of Cash G&A, Adjusted EBITDA and free cash flow, non-GAAP measures (cash income taxes, which are not included in free cash flow, are expected to range between $0 – $2 million for the year)
    (3) Amplify believes that a quantitative reconciliation of such forward-looking information to the most comparable financial measure calculated and presented in accordance with GAAP cannot be made available without unreasonable efforts. A reconciliation of these non-GAAP financial measures would require Amplify to predict the timing and likelihood of future transactions and other items that are difficult to accurately predict. Neither of these forward-looking measures, nor their probable significance, can be quantified with a reasonable degree of accuracy. Accordingly, a reconciliation of the most directly comparable forward-looking GAAP measures is not provided.
     

    Hedging

    Recently, the Company took advantage of volatility in the futures market to add to its hedge position, further protecting future cash flows. Amplify executed crude oil swaps covering the second half of 2025 through year-end 2026 at a weighted average price of $68.10. The Company also added natural gas collars for a portion of 2027 with a weighted average floor of $3.63 per MMBtu and a weighted average ceiling of $3.98 per MMBtu.

    The following table reflects the hedged volumes under Amplify’s commodity derivative contracts and the average fixed floor and ceiling prices at which production is hedged for January 2025 through December 2027, as of March 4, 2025:

        2025       2026       2027  
               
    Natural Gas Swaps:          
    Average Monthly Volume (MMBtu)   585,000       500,000       87,500  
    Weighted Average Fixed Price ($) $ 3.75     $ 3.79     $ 3.76  
               
    Natural Gas Collars:          
    Two-way collars          
    Average Monthly Volume (MMBtu)   500,000       500,000       87,500  
    Weighted Average Ceiling Price ($) $ 3.90     $ 4.06     $ 4.20  
    Weighted Average Floor Price ($) $ 3.50     $ 3.55     $ 3.50  
               
    Oil Swaps:          
    Average Monthly Volume (Bbls)   128,583       72,750      
    Weighted Average Fixed Price ($) $ 70.85     $ 69.19      
               
    Oil Collars:          
    Two-way collars          
    Average Monthly Volume (Bbls)   59,500          
    Weighted Average Ceiling Price ($) $ 80.20          
    Weighted Average Floor Price ($) $ 70.00          
               

    Amplify has posted an updated investor presentation containing additional hedging information on its website, www.amplifyenergy.com, under the Investor Relations section.

    Annual Report on Form 10-K

    Amplify’s financial statements and related footnotes will be available in its Annual Report on Form 10-K for the year ended December 31, 2024, which Amplify expects to file with the SEC on March 5, 2025.

    About Amplify Energy

    Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties. Amplify’s operations are focused in Oklahoma, the Rockies (Bairoil), federal waters offshore Southern California (Beta), East Texas / North Louisiana, and the Eagle Ford (Non-op). For more information, visit www.amplifyenergy.com.

    Conference Call

    Amplify will host an investor teleconference tomorrow at 10 a.m. Central Time to discuss these operating and financial results. Interested parties may join the call by dialing (888) 999-5318 at least 15 minutes before the call begins and providing the Conference ID: AEC4Q24. A telephonic replay will be available for fourteen days following the call by dialing (800) 654-1563 and providing the Access Code: 71724906. A transcript and a recorded replay of the call will also be available on our website after the call.

    Forward-Looking Statements

    This press release includes “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 fact, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as “may,” “will,” “would,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursue,” “target,” “outlook,” “continue,” the negative of such terms or other comparable terminology are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the Company’s expectations of plans, goals, strategies (including measures to implement strategies), objectives and anticipated results with respect thereto. These statements address activities, events or developments that we expect or anticipate will or may occur in the future, including things such as projections of results of operations, plans for growth, goals, future capital expenditures, competitive strengths, references to future intentions and other such references. These forward-looking statements involve risks and uncertainties and other factors that could cause the Company’s actual results or financial condition to differ materially from those expressed or implied by forward-looking statements. These include risks and uncertainties relating to, among other things: the Company’s ability to successfully complete the proposed business combination between the Company and certain of Juniper’s portfolio companies, or the “Mergers”; the Company’s evaluation and implementation of strategic alternatives; risks related to the redetermination of the borrowing base under the Company’s revolving credit facility; the Company’s ability to satisfy debt obligations; the Company’s need to make accretive acquisitions or substantial capital expenditures to maintain its declining asset base, including the existence of unanticipated liabilities or problems relating to acquired or divested business or properties; volatility in the prices for oil, natural gas and NGLs; the Company’s ability to access funds on acceptable terms, if at all, because of the terms and conditions governing the Company’s indebtedness, including financial covenants; general political and economic conditions, globally and in the jurisdictions in which we operate, including the Russian invasion of Ukraine, and ongoing conflicts in the Middle East, and the potential destabilizing effect such conflicts may pose for the global oil and natural gas markets; expectations regarding general economic conditions, including inflation; and the impact of local, state and federal governmental regulations, including those related to climate change and hydraulic fracturing, and the current administration’s potential reversal thereof. Please read the Company’s filings with the SEC, including “Risk Factors” in the Company’s Annual Report on Form 10-K, and if applicable, the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are available on the Company’s Investor Relations website at https://www.amplifyenergy.com/investor-relations/sec-filings/default.aspx or on the SEC’s website at http://www.sec.gov, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Except as required by law, the Company undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

    No Offer or Solicitation

    A portion of this press release relates to a proposed business combination transaction between the Company and certain Juniper portfolio companies. This communication is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, in any jurisdiction, pursuant to the proposed business combination transaction or otherwise, nor shall there be any sale, issuance, exchange or transfer of the securities referred to in this document in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

    Important Additional Information Regarding the Mergers Will Be Filed With the SEC

    In connection with the proposed transaction, the Company has filed a definitive proxy statement. The definitive proxy statement will be sent to the stockholders of the Company. The Company may also file other documents with the SEC regarding the proposed transaction. INVESTORS AND SECURITY HOLDERS OF AMPLIFY ARE ADVISED TO CAREFULLY READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT MATERIALS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGERS, THE PARTIES TO THE MERGERS AND THE RISKS ASSOCIATED WITH THE MERGERS. Investors and security holders may obtain a free copy of the definitive proxy statement and other relevant documents filed by Amplify with the SEC from the SEC’s website at www.sec.gov. Security holders and other interested parties will also be able to obtain, without charge, a copy of the definitive proxy statement and other relevant documents (when available) by (1) directing your written request to: 500 Dallas Street, Suite 1700, Houston, Texas or (2) contacting our Investor Relations department by telephone at (832) 219-9044 or (832) 219-9051. Copies of the documents filed by the Company with the SEC will be available free of charge on the Company’s website at http://www.amplifyenergy.com.

    Participants in the Solicitation

    Amplify and certain of its respective directors, executive officers and employees may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders of Amplify in connection with the proposed transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise, is included in the definitive proxy statement filed with the SEC. Additional information regarding the Company’s directors and executive officers is also included in Amplify’s Notice of Annual Meeting of Stockholders and 2024 Proxy Statement, which was filed with the SEC on April 5, 2024. These documents are available free of charge as described above.

    Use of Non-GAAP Financial Measures

    This press release and accompanying schedules include the non-GAAP financial measures of Adjusted EBITDA, Adjusted net income, free cash flow, net debt, PV-10 and cash G&A. The accompanying schedules provide a reconciliation of these non-GAAP financial measures to their most directly comparable financial measures calculated and presented in accordance with GAAP. Amplify’s non-GAAP financial measures should not be considered as alternatives to GAAP measures such as net income, operating income, net cash flows provided by operating activities, standardized measure of discounted future net cash flows, or any other measure of financial performance calculated and presented in accordance with GAAP. Amplify’s non-GAAP financial measures may not be comparable to similarly titled measures of other companies because they may not calculate such measures in the same manner as Amplify does.

    Adjusted EBITDA. Amplify defines Adjusted EBITDA as net income (loss) plus Interest expense; Income tax expense (benefit); DD&A; Impairment of goodwill and long-lived assets (including oil and natural gas properties); Accretion of AROs; Loss or (gain) on commodity derivative instruments; Cash settlements received or (paid) on expired commodity derivative instruments; Amortization of gain associated with terminated commodity derivatives; Losses or (gains) on sale of assets and other, net; Share-based compensation expenses; Exploration costs; Acquisition and divestiture related expenses; Reorganization items, net; Severance payments; and Other non-routine items that we deem appropriate. Adjusted EBITDA is commonly used as a supplemental financial measure by management and external users of Amplify’s financial statements, such as investors, research analysts and rating agencies, to assess: (1) its operating performance as compared to other companies in Amplify’s industry without regard to financing methods, capital structures or historical cost basis; (2) the ability of its assets to generate cash sufficient to pay interest and support Amplify’s indebtedness; and (3) the viability of projects and the overall rates of return on alternative investment opportunities. Since Adjusted EBITDA excludes some, but not all, items that affect net income or loss and because these measures may vary among other companies, the Adjusted EBITDA data presented in this press release may not be comparable to similarly titled measures of other companies. The GAAP measures most directly comparable to Adjusted EBITDA are net income and net cash provided by operating activities.

    Adjusted Net Income. Amplify defines Adjusted Net Income as net income (loss) adjusted for loss (gain) on commodity derivative instruments, acquisition & divestiture related expenses, unusual and infrequent items, and the income tax expense or benefit of these adjustments using our federal statutory tax rate. Adjusted Net Income (Loss) excludes the impact of unusual and infrequent items affecting earnings that vary widely and unpredictably, including derivative gains and losses. This measure is not meant to disassociate these items from management’s performance but rather is intended to provide helpful information to investors interested in comparing our performance between periods. Adjusted net income (loss) is not considered to be an alternative to net income (loss) reported in accordance with GAAP.

    Free cash flow. Amplify defines free cash flow as Adjusted EBITDA, less cash interest expense and capital expenditures. Free cash flow is an important non-GAAP financial measure for Amplify’s investors since it serves as an indicator of the Company’s success in providing a cash return on investment. The GAAP measures most directly comparable to free cash flow are net income and net cash provided by operating activities.

    Net debt. Amplify defines net debt as the total principal amount drawn on the revolving credit facility less cash and cash equivalents. The Company uses net debt as a measure of financial position and believes this measure provides useful additional information to investors to evaluate the Company’s capital structure and financial leverage.

    PV-10. PV-10 is a non-GAAP financial measure that represents the present value of estimated future cash inflows from proved oil and natural gas reserves that are calculated using the unweighted arithmetic average first-day-of-the-month prices for the prior 12 months, less future development and operating costs, discounted at 10% per annum to reflect the timing of future cash flows. The most directly comparable GAAP measure to PV-10 is standardized measure. PV-10 differs from standardized measure in its treatment of estimated future income taxes, which are excluded from PV-10. Amplify believes the presentation of PV-10 provides useful information because it is widely used by investors in evaluating oil and natural gas companies without regard to specific income tax characteristics of such entities. PV-10 is not intended to represent the current market value of our estimated proved reserves. PV-10 should not be considered in isolation or as a substitute for the standardized measure as defined under GAAP.

    Cash G&A. Amplify defines cash G&A as general and administrative expense, less share-based compensation expense; acquisition and divestiture costs; bad debt expense; and severance payments. Cash G&A is an important non-GAAP financial measure for Amplify’s investors since it allows for analysis of G&A spend without regard to share-based compensation and other non-recurring expenses which can vary substantially from company to company. The GAAP measures most directly comparable to cash G&A is total G&A expenses.

    Contacts

    Jim Frew — Senior Vice President and Chief Financial Officer
    (832) 219-9044
    jim.frew@amplifyenergy.com

    Michael Jordan — Director, Finance and Treasurer
    (832) 219-9051
    michael.jordan@amplifyenergy.com


    Selected Operating and Financial Data (Tables)

    Amplify Energy Corp.
    Selected Financial Data – Unaudited
    Statements of Operations Data
           
      Three Months   Three Months
      Ended   Ended
    (Amounts in $000s, except per share data) December 31, 2024   September 30, 2024
           
    Revenues:      
    Oil and natural gas sales $ 67,189     $ 68,135  
    Other revenues   1,832       1,723  
    Total revenues   69,021       69,858  
           
    Costs and Expenses:      
    Lease operating expense   35,100       33,255  
    Pipeline incident loss   2,405       247  
    Gathering, processing and transportation   4,468       4,290  
    Exploration   10       –  
    Taxes other than income   5,356       5,997  
    Depreciation, depletion and amortization   8,418       8,102  
    General and administrative expense   9,486       8,251  
    Accretion of asset retirement obligations   2,156       2,125  
    Realized (gain) loss on commodity derivatives   (4,052 )     (6,375 )
    Unrealized (gain) loss on commodity derivatives   13,357       (18,672 )
    (Gain) loss on sale of properties   (1,367 )     –  
    Other, net   334       38  
    Total costs and expenses   75,671       37,258  
           
    Operating Income (loss)   (6,650 )     32,600  
           
    Other Income (Expense):      
    Interest expense, net   (3,684 )     (3,756 )
    Other income (expense)   (113 )     (130 )
    Total other income (expense)   (3,797 )     (3,886 )
           
    Income (loss) before reorganization items, net and income taxes   (10,447 )     28,714  
           
    Income tax benefit (expense) – current   2,132       (412 )
    Income tax benefit (expense) – deferred   886       (5,650 )
           
    Net income (loss) $ (7,429 )   $ 22,652  
           
    Earnings per share:      
    Basic and diluted earnings (loss) per share $ (0.19 )   $ 0.54  
           
    Selected Financial Data – Unaudited      
    Operating Statistics      
           
      Three Months   Three Months
      Ended   Ended
    (Amounts in $000s, except per unit data) December 31, 2024   September 30, 2024
           
    Oil and natural gas revenue:      
    Oil Sales $ 50,817     $ 54,353  
    NGL Sales   6,602       6,096  
    Natural Gas Sales   9,770       7,686  
    Total oil and natural gas sales – Unhedged $ 67,189     $ 68,135  
           
    Production volumes:      
    Oil Sales – MBbls   760       758  
    NGL Sales – MBbls   299       301  
    Natural Gas Sales – MMcf   3,883       4,165  
    Total – MBoe   1,706       1,752  
    Total – MBoe/d   18.5       19.0  
           
    Average sales price (excluding commodity derivatives):      
    Oil – per Bbl $ 66.82     $ 71.74  
    NGL – per Bbl $ 22.09     $ 20.29  
    Natural gas – per Mcf $ 2.52     $ 1.85  
    Total – per Boe $ 39.37     $ 38.88  
           
    Average unit costs per Boe:      
    Lease operating expense $ 20.57     $ 18.98  
    Gathering, processing and transportation $ 2.62     $ 2.45  
    Taxes other than income $ 3.14     $ 3.42  
    General and administrative expense $ 5.56     $ 4.71  
    Realized gain/(loss) on commodity derivatives $ 2.38     $ 3.64  
    Depletion, depreciation, and amortization $ 4.93     $ 4.62  
           
    Selected Financial Data – Unaudited      
    Asset Operating Statistics      
           
      Three Months   Three Months
      Ended   Ended
      December 31, 2024   September 30, 2024
           
    Production volumes – MBOE:      
    Bairoil   293       294  
    Beta   308       304  
    Oklahoma   436       454  
    East Texas / North Louisiana   609       638  
    Eagle Ford (Non-op)   60       62  
    Total – MBoe   1,706       1,752  
    Total – MBoe/d   18.5       19.0  
    % – Liquids   62 %     60 %
           
    Lease operating expense – $M:      
    Bairoil $ 11,800     $ 13,164  
    Beta   12,113       9,520  
    Oklahoma   3,948       3,644  
    East Texas / North Louisiana   5,887       5,592  
    Eagle Ford (Non-op)   1,351       1,335  
    Total Lease operating expense: $ 35,099     $ 33,255  
           
    Capital expenditures – $M:      
    Bairoil $ 190     $ 1,224  
    Beta   10,001       12,047  
    Oklahoma   168       1,449  
    East Texas / North Louisiana   2,758       2,303  
    Eagle Ford (Non-op)   2,125       1,157  
    Magnify Energy Services   82       44  
    Total Capital expenditures: $ 15,324     $ 18,224  
           
    Selected Financial Data – Unaudited              
    Balance Sheet Data              
                   
    (Amounts in $000s) December 31, 2024   September 30, 2024
                   
    Assets              
    Cash and Cash Equivalents $ –     $ –  
    Accounts Receivable   39,713       32,295  
    Other Current Assets   32,064       37,862  
    Total Current Assets $ 71,777     $ 70,157  
                   
    Net Oil and Gas Properties $ 386,218     $ 378,871  
    Other Long-Term Assets   289,081       290,188  
    Total Assets $ 747,076     $ 739,216  
                   
    Liabilities              
    Accounts Payable $ 13,231     $ 18,107  
    Accrued Liabilities   43,413       36,699  
    Other Current Liabilities   11,494       11,362  
    Total Current Liabilities $ 68,138     $ 66,168  
                   
    Long-Term Debt $ 127,000     $ 120,000  
    Asset Retirement Obligation   129,700       127,556  
    Other Long-Term Liabilities   13,326       10,822  
    Total Liabilities $ 338,164     $ 324,546  
                   
    Shareholders’ Equity              
    Common Stock & APIC $ 440,380     $ 438,709  
    Accumulated Earnings (Deficit)   (31,468 )     (24,039 )
    Total Shareholders’ Equity $ 408,912     $ 414,670  
                   
    Selected Financial Data – Unaudited      
    Statements of Cash Flows Data      
           
      Three Months   Three Months
      Ended   Ended
    (Amounts in $000s) December 31, 2024   September 30, 2024
           
           
    Net cash provided by (used in) operating activities $ 12,455     $ 15,737  
    Net cash provided by (used in) investing activities   (19,379 )     (18,078 )
    Net cash provided by (used in) financing activities   6,924       1,839  
           
    Selected Operating and Financial Data (Tables)
    Reconciliation of Unaudited GAAP Financial Measures to Non-GAAP Financial Measures
    Adjusted EBITDA and Free Cash Flow
           
      Three Months   Three Months
      Ended   Ended
    (Amounts in $000s) December 31, 2024   September 30, 2024
           
    Reconciliation of Adjusted EBITDA to Net Cash Provided from Operating Activities:    
    Net cash provided by operating activities $ 12,455     $ 15,737  
    Changes in working capital   4,770       5,937  
    Interest expense, net   3,684       3,756  
    Cash settlements received on terminated commodity derivatives   –       (793 )
    Amortization of gain associated with terminated commodity derivatives   159       –  
    Amortization and write-off of deferred financing fees   (315 )     (310 )
    Exploration costs   10       –  
    Acquisition and divestiture related costs   1,424       186  
    Plugging and abandonment cost   754       372  
    Current income tax expense (benefit)   (2,132 )     412  
    Pipeline incident loss   2,405       247  
    (Gain) loss on sale of properties   (1,367 )     –  
    Adjusted EBITDA: $ 21,847     $ 25,544  
           
    Reconciliation of Free Cash Flow to Net Cash Provided from Operating Activities:    
    Adjusted EBITDA: $ 21,847     $ 25,544  
    Less: Cash interest expense   3,598       3,721  
    Less: Capital expenditures   15,324       18,224  
    Free Cash Flow: $ 2,925     $ 3,599  
           
    Selected Operating and Financial Data (Tables)
    Reconciliation of Unaudited GAAP Financial Measures to Non-GAAP Financial Measures
    Adjusted EBITDA and Free Cash Flow
           
           
      Twelve Months   Twelve Months
      Ended   Ended
    (Amounts in $000s, except per share data) December 31, 2024   December 31, 2023
           
    Reconciliation of Adjusted EBITDA1to Net Cash Provided from Operating Activities:    
    Net cash provided by operating activities $ 51,293     $ 141,590  
    Changes in working capital   32,272       (8,517 )
    Interest expense, net   14,599       17,719  
    Cash settlements received on terminated commodity derivatives   (793 )     (658 )
    Amortization of gain associated with terminated commodity derivatives   159       658  
    Amortization and write-off of deferred financing fees   (1,233 )     (1,980 )
    Exploration costs   61       57  
    Acquisition and divestiture related costs   1,633       219  
    Plugging and abandonment cost   1,640       2,239  
    Current income tax expense (benefit)   232       4,817  
    Pipeline incident loss   3,859       19,981  
    (Gain) loss on sale of properties   (1,367 )     –  
    LOPI – timing differences   –       (4,636 )
    Litigation settlement   –       (84,875 )
    Other   686       1,418  
    Adjusted EBITDA: $ 103,041     $ 88,032  
           
    Reconciliation of Free Cash Flow to Net Cash Provided from Operating Activities:    
    Adjusted EBITDA1: $ 103,041     $ 88,032  
    Less: Cash interest expense   14,438       16,263  
    Less: Capital expenditures   70,644       33,744  
    Free Cash Flow: $ 17,959     $ 38,025  
      (1) Adjusted EBITDA includes a revenue suspense release of $8.4 million for the twelve months ended December 31, 2024. See “Revenue Payables in Suspense” table for additional information.
         
    Selected Operating and Financial Data (Tables)
    Reconciliation of Unaudited GAAP Financial Measures to Non-GAAP Financial Measures
    Adjusted EBITDA1 and Free Cash Flow
           
      Three Months   Three Months
      Ended   Ended
    (Amounts in $000s) December 31, 2024   September 30, 2024
           
    Reconciliation of Adjusted EBITDA to Net Income (Loss):      
    Net income (loss) $ (7,429 )   $ 22,652  
    Interest expense, net   3,684       3,756  
    Income tax expense (benefit) – current   (2,132 )     412  
    Income tax expense (benefit) – deferred   (886 )     5,650  
    Depreciation, depletion and amortization   8,418       8,102  
    Accretion of asset retirement obligations   2,156       2,125  
    (Gains) losses on commodity derivatives   9,305       (25,047 )
    Cash settlements received (paid) on expired commodity derivative instruments   4,052       5,582  
    Amortization of gain associated with terminated commodity derivatives   159       –  
    Acquisition and divestiture related costs   1,424       186  
    Share-based compensation expense   1,686       1,815  
    (Gain) loss on sale of properties   (1,367 )     –  
    Exploration costs   10       –  
    Loss on settlement of AROs   334       38  
    Bad debt expense   28       26  
    Pipeline incident loss   2,405       247  
    Adjusted EBITDA1: $ 21,847     $ 25,544  
           
    Reconciliation of Free Cash Flow to Net Income (Loss):      
    Adjusted EBITDA: $ 21,847     $ 25,544  
    Less: Cash interest expense   3,598       3,721  
    Less: Capital expenditures   15,324       18,224  
    Free Cash Flow: $ 2,925     $ 3,599  
           
    Selected Operating and Financial Data (Tables)
    Reconciliation of Unaudited GAAP Financial Measures to Non-GAAP Financial Measures
    Adjusted EBITDA and Free Cash Flow
           
           
      Twelve Months   Twelve Months
      Ended   Ended
    (Amounts in $000s, except per share data) December 31, 2024   December 31, 2023
           
           
    Reconciliation of Adjusted EBITDA1to Net Income (Loss):      
    Net income (loss) $ 12,946     $ 392,750  
    Interest expense, net   14,599       17,719  
    Income tax expense (benefit) – current   232       4,817  
    Income tax expense (benefit) – deferred   2,196       (253,796 )
    Depreciation, depletion and amortization   32,586       28,004  
    Accretion of asset retirement obligations   8,438       7,951  
    (Gains) losses on commodity derivatives   2,047       (40,343 )
    Cash settlements received (paid) on expired commodity derivative instruments   17,617       (8,273 )
    Amortization of gain associated with terminated commodity derivatives   159       658  
    Acquisition and divestiture related costs   1,633       219  
    Share-based compensation expense   6,799       5,280  
    (Gain) loss on sale of properties   (1,367 )     –  
    Exploration costs   61       57  
    Loss on settlement of AROs   470       1,003  
    Bad debt expense   80       98  
    Pipeline incident loss   3,859       19,981  
    LOPI – timing differences   –       (4,636 )
    Litigation settlement   –       (84,875 )
    Other   686       1,418  
    Adjusted EBITDA: $ 103,041     $ 88,032  
           
    Reconciliation of Free Cash Flow to Net Income (Loss):      
    Adjusted EBITDA1: $ 103,041     $ 88,032  
    Less: Cash interest expense   14,438       16,263  
    Less: Capital expenditures   70,644       33,744  
    Free Cash Flow: $ 17,959     $ 38,025  
      (1) Adjusted EBITDA includes a revenue suspense release of $8.4 million for the twelve months ended December 31, 2024. See “Revenue Payables in Suspense” table for additional information.
         
    Selected Operating and Financial Data (Tables)
    Reconciliation of Unaudited GAAP Financial Measures to Non-GAAP Financial Measures
    Net Income (Loss) to Adjusted Net Income (Loss)
           
      Three Months   Three Months
      Ended   Ended
    (Amounts in $000s, except per share data) December 31, 2024   September 30, 2024
           
    Reconciliation of Adjusted Net Income (Loss):      
    Net income (loss) $ (7,429 )   $ 22,652  
    Unrealized (gain) loss on commodity derivatives   13,357       (18,672 )
    Acquisition and divestiture related costs   1,424       186  
    Non-recurring costs:      
    Income tax expense (benefit) – deferred   (886 )     5,650  
    Gain on sale of properties   (1,367 )     –  
    Litigation settlement   –       –  
    Tax effect of adjustments   (12 )     (39 )
    Adjusted net income (loss) $ 5,087     $ 9,777  
           
    Selected Operating and Financial Data (Tables)
    Reconciliation of Unaudited GAAP Financial Measures to Non-GAAP Financial Measures
    Net Income (Loss) to Adjusted Net Income (Loss)
           
      Twelve Months   Twelve Months
      Ended   Ended
    (Amounts in $000s, except per share data) December 31, 2024   December 31, 2023
           
    Reconciliation of Adjusted Net Income (Loss):      
    Net income (loss) $ 12,946     $ 392,750  
    Unrealized (gain) loss on commodity derivatives   20,457       (47,958 )
    Acquisition and divestiture related costs   1,633       219  
    Non-recurring costs:      
    Income tax expense (benefit) – deferred1   2,196       (253,796 )
    Gain on sale of properties   (1,367 )     –  
    Litigation settlement2   –       (84,875 )
    Tax effect of adjustments3   (56 )     17,778  
    Adjusted net income (loss) $ 35,809     $ 24,118  
      (1) In 2023, we achieved three years of cumulative book income which resulted in the release of our valuation allowance of $284.9 million.
      (2) In 2023, non-recurring costs included a litigation settlement with the shipping companies and the containerships whose anchors struck the Company’s pipeline.
      (3) The federal statutory rates were utilized for all periods presented.
         
    Selected Operating and Financial Data (Tables)
    Reconciliation of Unaudited GAAP Financial Measures to Non-GAAP Financial Measures
    Cash General and Administrative Expenses
                   
      Three Months      Three Months
      Ended   Ended
    (Amounts in $000s) December 31, 2024   September 30, 2024
                   
    General and administrative expense $ 9,486     $ 8,251  
    Less: Share-based compensation expense   1,686       1,815  
    Less: Acquisition and divestiture costs   1,424       186  
    Less: Bad debt expense   28       26  
    Less: Severance payments   —       —  
    Total Cash General and Administrative Expense $ 6,348     $ 6,224  
                   
    Selected Operating and Financial Data (Tables)
    Reconciliation of Unaudited GAAP Financial Measures to Non-GAAP Financial Measures
    Cash General and Administrative Expenses
                   
      Twelve Months      Twelve Months
      Ended   Ended
    (Amounts in $000s) December 31, 2024   December 31, 2023
                   
    General and administrative expense $ 35,895     $ 32,984  
    Less: Share-based compensation expense   6,799       5,280  
    Less: Acquisition and divestiture costs   1,633       219  
    Less: Bad debt expense   80       98  
    Less: Severance payments   344       965  
    Total Cash General and Administrative Expense $ 27,039     $ 26,422  
                   
    Selected Operating and Financial Data (Tables)
    Reconciliation of Unaudited GAAP Financial Measures to Non-GAAP Financial Measures
    Revenue Payables in Suspense
           
      Three Months      Twelve Months
      Ended   Ended
    (Amounts in $000s) December 31, 2024   December 31, 2024
           
           
    Oil and natural gas sales $ –     $ 4,023  
    Other revenues   –       4,829  
    Severance tax and other deducts   –       (433 )
    Total net revenue $ –     $ 8,419  
           
    Production volumes:      
    Oil (MBbls)   –       33  
    NGLs (MBbls)   –       31  
    Natural gas (MMcf)   –       441  
    Total (Mboe)   –       138  
    Total (Mboe/d)   –       0.38  
           
        As of       As of  
      December 31,       December 31,  
      2024       2023  
    Standardized measure of future net cash flows, discounted at 10% ($ M)   $608,239       $626,131  
    Add: PV of future income tax, discounted at 10% ($ M)   $127,526       $130,882  
    PV-10 ($ M)   $735,765       $757,013  
                   

    The MIL Network –

  • MIL-OSI USA: Warner, Kaine, and Klobuchar Unveil Legislation to Undo President Trump’s Senseless Taxes on Canadian Goods

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner
    WASHINGTON– Today, U.S. Sens. Mark R. Warner (D-VA), Tim Kaine, Ranking Member of the Senate Foreign Relations Subcommittee on the Western Hemisphere, (D-VA), and Amy Klobuchar (D-MN), unveiled legislation to undo President Donald Trump’s wildly unpopular tariffs on Canadian goods, which amount to a 25 percent tax on goods imported from one of America’s top trading partners and closest allies.
    “Virginians can’t afford the cost of President Trump’s tariffs, which will raise prices on everything from groceries to houses and cars,” said Sen. Warner. “Congress must step in before President Trump tanks our economy.”
    “Americans want prices to go down—not skyrocket, which is exactly what will happen if Congress lets President Trump slap new taxes on goods from one of our largest trading partners and closest allies,” said Sen. Kaine. “We don’t need to guess what kind of damage these senseless new taxes will do. During Trump’s first term, his trade wars spelled disaster for Virginians, particularly for farmers and foresters who were hit especially hard. Congress has a responsibility to stop that from happening again, and I urge all of my colleagues to join me in blocking Trump from destroying our economy.”
    “This Administration is igniting a reckless trade war and regular Americans are paying the price,” said Sen. Klobuchar. “Costs for everyone will go up and our farmers and businesses will suffer. Canada is Minnesota’s top trading partner and is a key U.S. ally. We must reverse these damaging tariffs before it’s too late.”
    In Virginia in 2024, Canada was the largest export market and accounted for 15 percent of Virginia exports. In Virginia in 2022, top goods exports to Canada included motor vehicles and transportation equipment, such as medium- and heavy-duty trucks. 56.1 percent of Southwest Virginia’s economic output is dependent on trade.
    Polls have overwhelmingly demonstrated that the American people do not support Trump’s trade wars. According to a recent survey by Public First, just 28 percent of American adults supported specifically applying tariffs to Canada, while 43 percent opposed.
    Specifically, the senators’ legislation would work by terminating the February 1 emergency that Trump used to launch his trade war with Canada, and thus eliminate the tariffs on Canadian imports implemented as a result. Trump’s order cites the International Economic Emergency Powers Act (IEEPA), an unprecedented use of IEEPA in its nearly half century history. After an initial one-month delay, President Trump decided to move forward with the tariffs, with the import taxes starting to be collected on March 4, 2025. In total, President Trump’s IEEPA tariffs will cost the average American household up to $2,000 a year, with the Canada tariffs making up a significant portion of that. These IEEPA tariffs represent the largest tax increase on American families in recent history.

    MIL OSI USA News –

  • MIL-OSI Canada: Securing the Alberta-U.S. border

    [. Alberta’s government recognizes the need for swift and decisive action that will curb drug trafficking and illegal border crossings to strengthen the province’s border security.

    The team’s first cohort has been deployed and hiring will continue until all 51 positions are filled. The IPT is now operational, working closely with the RCMP and Canada Border Services Agency to identify and apprehend individuals suspected of drug smuggling, human trafficking and other illegal activities involving movement across the Canada-U.S. border. To date, 20 members of the Alberta Sheriffs have been assigned to the IPT to patrol between entry points, and to vehicle inspection stations along Alberta’s side of the border.

    Sheriffs Interdiction Patrol Team map

    “We are committed to strengthening security along Alberta’s southern border to put an end to the dangerous criminal activities that are destroying lives on both sides of the border. In addition to launching our new Interdiction Patrol Team, we are building three new vehicle inspection stations and increasing highway monitoring for suspicious activity. Our plan will ensure that Alberta’s southern border is secure.”

    Danielle Smith, Premier

    “Alberta’s government is increasing border security and has zero tolerance for illegal activities that threaten the well-being of Albertans or Alberta’s economy. The Alberta Sheriffs Interdiction Patrol Team puts more boots on the ground to identify where and when these activities are taking place, boosting security along our southern border and disrupting dangerous cross-border human, drugs and weapons trafficking in both directions. Let this be a message to all potential traffickers, especially those who traffic deadly fentanyl, you will get caught and you will go to jail.”

    Mike Ellis, Minister of Public Safety and Emergency Services

    Alberta’s government continues to acquire equipment that will enable the IPT to detect and apprehend individuals committing illegal activity, including drones, night-vision optics and patrol canines. This team will patrol to detect and intercept illicit drugs, illegal firearms and unlawful attempts at illegal international border crossing. The IPT will be fully operational in coming months.

    Through this process, Alberta has identified further significant concerns with the shared Canada-U.S. border. In response, Alberta’s government is advancing further measures to increase the security of the southern border.

    In addition to the IPT, Alberta Transportation and Economic Corridors is dedicating $15 million over two years for three new vehicle inspection stations near the border, if Budget 2025 passes. This will give Sheriffs dedicated facilities to inspect commercial vehicles, whether they’re crossing into the United States or coming into Canada. The stations will be located on Highway 1 at Dunmore, Highway 3 at Burmis and Highway 4 at Coutts. The stations will include enhanced parking lanes for inspections, and winter ready buildings for year-round inspections.

    Another measure undertaken by Alberta’s government is to train highway maintenance workers to identify and report suspicious activity during highway maintenance operations. Volker Stevin has a contract to maintain about 600 kilometres of highways in southern Alberta and by empowering their workers to identify and report suspicious activity, Alberta’s government is layering further security measures without adding additional costs.

    “Border security is a priority, and Alberta Transportation and Economic Corridors is doing its part to enhance security and surveillance through three new vehicle inspection stations and with the help of our highway maintenance contractors, who will be trained to detect and report suspicious activity, providing an extra pair of eyes along the border.”

    Devin Dreeshen, Minister of Transportation and Economic Corridors

    “The Interdiction Patrol Team will play a key role in eradicating crimes that seek to exploit the Alberta-Montana border in both directions. The Alberta Sheriffs are pleased to collaborate with the RCMP, Canada Border Services Agency and our counterparts in the United States as we work to keep our shared border safe and secure.”

    Bob Andrews, chief, Alberta Sheriffs

    Alberta’s government also amended the Critical Infrastructure Defence Regulation in January 2025 to add a two-kilometre-deep border zone north of the Alberta-United States border to the definition of essential infrastructure under the Critical Infrastructure Defence Act. The act gives peace officers the authority to arrest individuals caught trespassing on, interfering with or damaging essential infrastructure and who do not have a lawful right, to be on the essential infrastructure.

    “Amending the Critical Infrastructure Defence Regulation is a key piece of our efforts to strengthen security in the area near the international border. We have quickly taken action that will support law enforcement in improving public safety, and tackle cross-border crime, drugs, illegal migrants and human-trafficking.”

    Mickey Amery, Minister of Justice and Attorney General

    Quick facts:

    IPT will be supported by:

    • 51 uniformed officers equipped with carbine rifles (weapons for tactical operations)
    • 10 support staff, including dispatchers and analysts
    • four drug patrol dogs, critical to ensure reasonable suspicion to search vehicles
    • 10 cold weather surveillance drones that can operate in high winds with dedicated pilots
    • four narcotics analyzers to test for illicit drugs

    The IPT has already conducted more than 3,300 stops/contacts and has been successful in:

    • assisting with four Northbound unauthorized border crossings
    • executing 18 warrants and conducting two Judicial Interim Release hearings
    • conducting three arrests related to possession of cocaine for the purpose of trafficking

    Related news

    • A plan to secure Alberta’s southern border (Dec. 12, 2024)

    Multimedia

    • Watch the news conference

    MIL OSI Canada News –

  • MIL-OSI Security: Repeat Gun Offender Sentenced for Unlawful Possession of a Firearm and Aggravated Assault While Armed

    Source: Office of United States Attorneys

                WASHINGTON – Traquon Demonte McCalip, 21, of Washington D.C., was sentenced today in U.S. District Court to 114 months in federal prison for unlawfully possessing a Canik T9SF Elite 9mm handgun and using it to shoot a victim in the middle of the day at a busy fast-food restaurant parking lot on the 3900 block of Minnesota Avenue NE.

                The sentence was announced by U.S. Attorney Edward R. Martin, Jr., FBI Special Agent in Charge Sean T. Ryan of the Washington Field Office’s Criminal and Cyber Division, and Chief Pamela Smith of the Metropolitan Police Department (MPD).

                McCalip pleaded guilty on August 23, 2024, to unlawful possession of a firearm and ammunition by a person convicted of a crime punishable by imprisonment for a term exceeding one year and to aggravated assault while armed. In addition to the prison term, U.S. District Court Judge Amit P. Mehta ordered McCalip to serve five years of supervised release.

                According to court documents, on March 20, 2024, McCalip approached an individual standing in a fast-food parking lot on the 3900-block of Minnesota Avenue NE, and claimed that he wanted to buy cigarettes from him. After discussing cigarette prices, McCalip attempted to take the individual’s bag. McCalip then drew his loaded, concealed handgun and shot the individual in the abdomen. As a struggle ensued between McCalip and the victim, McCalip spotted a marked police vehicle that had arrived on scene. McCalip took his firearm’s magazine that had fallen out of his gun, and fled in a vehicle that he had parked in the lot with his firearm’s magazine but left behind his firearm. Police chased McCalip and ultimately arrested him near 1805 Bladensburg Road NE. Officers recovered the firearm magazine and ammunition on the driver’s seat of the car McCalip was driving.

                This case was investigated by the Metropolitan Police Department and the Federal Bureau of Investigation’s Washington Field Office. It was prosecuted by Trial Attorney Ethan Cantor of the Department of Justice.

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    MIL Security OSI –

  • MIL-OSI USA: Preparing for Potential Ice Jam Flooding

    Source: US State of New York

    overnor Kathy Hochul today announced the week of March 9, 2025, as Flood Safety Awareness Week in New York State. The annual campaign, conducted in partnership with the National Weather Service, educates New Yorkers about flood dangers and how to prepare for any emergency involving flooding. The New York State Division of Homeland Security and Emergency Services works with local, state and federal partners year-round to address issues involving flooding, including recovering from past events, training first responders and preparing everyday New Yorkers to understand the risks and know what steps to take when there’s a flood.

    “New York is no stranger to extreme weather, and as we prepare for the potential for flood conditions starting today, it is important for New Yorkers to monitor their local forecast and take proper precaution to keep themselves and their families safe,” Governor Hochul said. “New York State is home to numerous bodies of water, including coastal areas, rivers, lakes and streams — and Flood Safety Awareness Week is a great opportunity for New Yorkers to understand the dangers of flooding and how to best prepare.”

    A widespread rain event today and tomorrow could cause localized flooding and elevated river flows, as well as increased potential for ice jams due to warm temperatures resulting in snowmelt and rainfall. Buffalo area creeks have the greatest risk for ice jams. Warm temperatures, snowmelt, ice on rivers and widespread rainfall could contribute to minor flooding throughout the State through tomorrow. Ice jam flooding is possible, especially on creeks and streams where blockages are reported and isolated minor river flooding is possible. Gusty winds are expected across western portions of the State with wind gusts between 40 and 45 mph through this afternoon. Flood Watches continue this afternoon into tomorrow for Western New York, the northern Finger Lakes, northern Central NY and the North Country’s Tug Hill Plateau with several locations seeing between a half inch to an inch of rain by Thursday morning.

    The risk of flooding across New York State and the rest of the country is increasing due to climate change. The warming atmosphere impacts the weather in several ways, including increased precipitation, tropical storms and hurricanes occurring with more frequency, and higher sea levels due to increasing ocean temperatures and melting of ice sheets. Across the United States, flooding causes billions of dollars in damage and is responsible for almost 100 deaths each year. Governor Hochul is joining DHSES and NWS in urging all New Yorkers to learn about the threats associated with flooding and know the actions they can take now to protect families, businesses and communities from flooding and other emergencies.

    Division of Homeland Security and Emergency Services Commissioner Jackie Bray said, “New Yorkers are no strangers to the devastating effects of flooding, but preparing in advance can help keep everyone safe. Build an emergency supply kit, develop a flood preparedness plan for your family and follow instructions from emergency officials.”

    The National Weather Service said, “In New York, flooding can happen any time of year. Thunderstorms, tropical storms and large winter storms can all produce enough rain to send streams over their banks. Rising rivers in the winter and spring can break up ice and lead to ice jam flooding. Everyone living along a stream or river should pay attention to weather and river forecasts and have a plan should rising water threaten their safety or livelihood.”

    Flooding can cause damage and injury with little warning, including power outages, disruptions to transportation and transit systems, building damage and catastrophic landslides. It is important for all New Yorkers to understand the severity of danger that flooding risks pose and what individuals and families can do to stay safe in a flooding emergency.

    Governor Hochul and Commissioner Bray encouraged individuals to sign-up for free emergency alerts such as weather warnings, road closures and other emergency information at https://alert.ny.gov/.

    Steps New Yorkers can take before and during a flood to stay safe:

    • Know your area’s type of flood risk — visit FEMA’s Flood Map Service Center.
    • Have a flood emergency plan in place for all members of your household including children and pets.
    • Check in with neighbors who may need assistance.
    • If you live in a flood-prone area, document your belongings and valuables. Keep important documents in a waterproof container. Create digital, password-protected copies of important documents, pictures and other items.
    • Obtain flood insurance coverage under the National Flood Insurance Program (NFIP). Homeowner’s policies do not cover flooding.
    • Monitor your local weather forecast and follow instructions from local officials.
    • If you live in an area that has evacuation zones, know your route and follow instructions from local officials.
    • Traveling during a flood can be extremely dangerous. One foot of moving water can sweep a vehicle away. Never walk, swim or drive through flood waters. If you have doubts, remember: “Turn Around, Don’t Drown!”
    • Consider those with access and functional needs to determine if they are prepared for a flood emergency where they live and work.

    For more preparedness information and safety tips from DHSES, visit dhses.ny.gov/safety. The National Weather Service website also includes Flood Safety Tips and Spring Safety Resources.

    About the Division of Homeland Security and Emergency Services

    The Division of Homeland Security and Emergency Services provides leadership, coordination and support to prevent, protect against, prepare for, respond to, recover from and mitigate disasters and other emergencies. For more information, find DHSES on Facebook, on X (formerly Twitter) or visit dhses.ny.gov.

    MIL OSI USA News –

  • MIL-OSI USA: Duckworth, Cohen Renew Push to Help Improve School Bus Safety and Protect Our Kids

    US Senate News:

    Source: United States Senator for Illinois Tammy Duckworth

    March 04, 2025

    [WASHINGTON, D.C.] – Today, U.S. Senator Tammy Duckworth (D-IL)—a member of the U.S. Senate Committee on Commerce, Science and Transportation (CST)— and U.S. Representative Steve Cohen (D-TN-09) reintroduced legislation to help keep our kids safe as they travel to and from school. The School Bus Safety Act of 2025 would implement safety recommendations from the National Transportation Safety Board (NTSB) to make school buses safer by ensuring there are seat belts at every seat and buses are equipped with safety measures like stability control and automatic braking systems. The bill would also create a grant program to help school districts modify school buses to meet these important safety modifications.

    “No parent should have to worry about the safety of their children when they get on a school bus—but school buses often lack seat belts and other basic safety equipment that every parent demands,” said Senator Duckworth. “Nothing is more important than protecting our children, which is why I’m proud to be reintroducing the School Bus Safety Act with Rep. Cohen to help prevent school bus accidents, make accidents less severe and implement other commonsense safety recommendations that will save lives.”

    “There is no more precious cargo than children entrusted by their parents for a bus ride to school,” said Rep. Cohen. “The commonsense measures recommended by the NTSB and called for in this legislation will save young lives. I am pleased to reintroduce this legislation with Senator Duckworth to make school buses across the country safer while helping financially strapped school districts modify their school bus fleets to meet the new specifications. We’ve seen too many deaths and serious injuries in school bus accidents in Tennessee and elsewhere, and it is past time we act to protect young lives.”

    The School Bus Safety Act would require the Department of Transportation issue rules requiring all school buses to include:

    • A 3-point safety belt, which includes a seat belt across a lap as well as a shoulder harness to help protect passengers by restraining them in case of a collision.
    • An Automatic Emergency Braking System, which helps prevent accidents and crashes by detecting objects or vehicles ahead of the bus and braking automatically.
    • An Event Data Recorder (EDR) that can record pre- and post-crash data, driver inputs, and restraint usage and when a collision does occur.
    • An Electronic Stability Control (ESC) System that will use automatic computer-controlled braking of individual wheels to assist the driver remain in control of the vehicle.
    • A Fire Suppression System, which addresses engine fires.
    • A Firewall that prohibits hazardous quantities of gas or flame to pass through the firewall from the engine compartment to the passenger compartment.

    According to the National Highway Traffic Safety Administration (NHTSA) 1,082 people have died in school transportation-related crashes between 2013 and 2022, which saw a total of 976 crashes.

    Full text of the legislation can be found on Senator Duckworth’s website.

    Duckworth has long pushed for improving school bus safety, originally introducing this legislation in 2018 and again in 2023.

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    MIL OSI USA News –

  • MIL-OSI USA: Plan, Prepare and Protect Your Pet Before, During and After an Emergency

    Source: US Food and Drug Administration

    [embedded content]
    Español
    They make us laugh. They are usually waiting for us when we get home from work and school. They give us unconditional love. They are often our best friends. And they depend on us for everything: food, water, healthcare. They are our pets and part of the family.
    Our pets also depend on us when emergency strikes. Are you ready with your pet preparedness plan?
    Your Pet Preparedness Plan — Prepare Ahead for Your Pet’s Needs
    When it comes to planning for emergencies, pet owners should consider their pets too. With some simple preparations now, you can make sure your pet will be protected, safe and healthy during and after any emergency. In the middle of a disaster, or when you know one is imminent, you may not have time to prepare for the specific needs of your pet. Now is the time for pet preparedness planning, and here are some tips.

    Stock at least a 1-week supply of food and fresh water on hand for your pet, as well as a 1-week supply of medication, if your pet takes medication.
    Include copies of your pet’s vaccination records and other medical records in your pet preparedness kit. Include information about your pet’s insurance policy, if you have one.
    Experts suggest that you also include photos of your pet to help others identify them in case you and your pet become separated.

    How to Weather Emergencies With your Pet and How to Evacuate Safely if Necessary
    If you experience an emergency like a hurricane or flood, bring your pet indoors as soon as local authorities say a storm is coming. Stay indoors, preferably in a room with few or no windows, until you know it’s safe. Take your pet preparedness kit and other disaster supplies with you if you move from room to room.
    If you need to evacuate your home, it is important to bring your pet with you. You can find out from your local emergency management agency which emergency shelters allow pets.
    If you cannot take your pet when you evacuate and must leave them in your home, put a Rescue Alert Sticker on your door to let people know there is a pet inside.
    Pet Preparedness for Large Pets and Smaller Pets, Like Fish
    Having larger and smaller pets during an emergency can pose additional challenges. While dogs and cats are relatively easy to transport and evacuate to a shelter, what do you do with your horse, or fish that are in an aquarium or pond?
    If you have large animals such as horses, cattle, sheep, goats or pigs on your property, make sure they all have some form of identification. Map out primary and secondary evacuation routes in advance and identify the vehicles or trailers that would be needed for transporting and supporting each type of animal. If you need to evacuate with larger animals, make sure that your emergency destination has food and water, as well as access to veterinary care and handling equipment. If you need to evacuate and cannot take your larger animals, you will need to decide how and where to move them to shelter or if it’s better to turn them outside.
    There are some basic guidelines for dealing with fish in aquariums or ponds during a power outage. Experts recommend you do not feed your fish during a power outage. Most fish can survive days or even weeks without food. During the winter, if you lose power, you can insulate your aquarium with something like a blanket or newspapers. An alternate power source, like a generator, can run the heater, pump, and filter. If you must move your fish, you can use a heavy-duty zip-top plastic bag and fill the bag with one-third water and two-thirds air. Alternatively, you can use a bucket, tub, or large jar. It is important that you NOT release your pet fish into local waterways. Introducing non-native fish species is harmful to local waterways. If you cannot keep your fish because of an impending emergency, experts recommend taking them to a pet store.
    Helping Your Pet Adjust After an Emergency
    You and your pet have made it through the emergency, but your pet doesn’t seem normal and is displaying unexpected behaviors. Well-behaved pets may become aggressive or defensive after a major disruption in their lives, and it may take several weeks for them to return to normal. Keep an eye on your pet and give him or her plenty of time to rest; however, if your pet remains extremely anxious or has other behavioral or health problems afterward, contact your veterinarian.

    Find more about Pet Preparedness at the FDA’s Center for Veterinary Medicine:
    Take Care of Your Pets Before Disaster Strikes
    Taking Care of Your Pets During Hurricanes and Floods
    Additional resources:
    Prepare Your Pets for Disasters: This page has tips for dogs and cats as well as tips for large animals, such as horses, goats and pigs.
    NOAA Weather Radio All Hazards: NWR broadcasts official Weather Service warnings, watches, forecasts and other hazard information 24 hours a day, 7 days a week
    Large Animals and Livestock in Disasters

    MIL OSI USA News –

  • MIL-OSI USA: NASA’s SpaceX Crew-10 to Explore Deep Space Exercise, Health

    Source: NASA

    During NASA’s SpaceX Crew-10 mission to the International Space Station, which is scheduled to launch in March, select members of the four-person crew will participate in exercise and medical research aimed at keeping astronauts fit on future long-duration missions.
    Crew members living and working aboard the space station have access to a designated training area outfitted with a weight-lifting system, a stationary bike, and a specialized treadmill called T2. The space station is expansive enough for bulky exercise equipment that helps preserve the health and performance of astronauts in space and when they return to Earth.
    However, as NASA looks to explore beyond low Earth orbit, the agency anticipates future spacecraft will not have room for large exercise equipment, like treadmills. Since walking and running are essential parts of workouts aboard the space station, NASA does not fully understand how long-duration spaceflights without a treadmill will impact crews’ health and motor functions. Consequently, NASA researchers are adjusting astronauts’ training regimens, including eliminating the use of the treadmill in some cases, to study ways that maintain crews’ strength, fitness, bone health, and balance.
    In an ongoing study called Zero T2, expedition crews are divided into three groups with different workout regimens. One group continues exercising normally, using all the available equipment aboard the orbiting complex. A second group forgoes using the treadmill, relying solely on the other available equipment. While a third group will only exercise using a new, experimental, less bulky workout machine. NASA compares the groups’ health data collected before, during, and after flight to determine if the lack of treadmill use negatively impacts the crews’ fitness, muscle performance, and recovery after return to Earth.
    “A treadmill takes up a lot of mass, space, and energy. This is not great for missions to Mars where every kilogram counts,” explained NASA astronaut Matthew Dominick, who participated in the same study while serving as commander of NASA’s SpaceX Crew-8 mission in 2024. “The Zero T2 experiment is helping us figure out if we can go without a treadmill and still be healthy.”
    Results of the Zero T2 study will help researchers determine how treadmill-free workouts may affect crew health, which will, in turn, help NASA build realistic exercise protocols for future deep space missions. Additionally, this investigation could support design improvements for exercise devices used to prevent or treat bone, muscle, and cardiovascular health on Earth.
    Beyond the Zero T2 study, select NASA crew members will perform additional studies supported by the agency’s Human Research Program during their mission. Participating crew will conduct medical exams, provide biological samples, and document spaceflight-related injuries, among other tasks. 
    “Astronauts choose which studies to participate in based on their interests,” explained Cherie Oubre, a NASA scientist at the agency’s Johnson Space Center in Houston, who helps oversee human research studies carried out aboard the space station. “The experiments address important risks and gaps associated with human spaceflight.”
    One set of experiments, called CIPHER (Complement of Integrated Protocols for Human Exploration Research), will help researchers understand how multiple systems within the human body adjust to varying mission durations. CIPHER study members will complete vision assessments, cognitive tests, and MRI scans to help provide a clearer picture of how the entire body is affected by space.
    “The CIPHER experiment tracks changes in the eyes, bones, heart, muscles, immune system, and more,” Oubre said. “The investigation provides the most comprehensive overview of how long-duration spaceflight affects the entire human body ever conducted, helping us advance human expeditions to the Moon, Mars, and elsewhere.”
    Some crew members also will contribute to a core set of measurements called Spaceflight Standard Measures. The measurements represent how the human body and mind adapt to space travel over time and serve as a basis for other spaceflight studies like CIPHER. Additionally, crew members may provide biological samples for Omics Archive, a separate study analyzing how the body reacts to long-duration spaceflight at the molecular level.
    In another study, select crew members will test a potential treatment for spaceflight-associated neuro-ocular syndrome, a condition associated with brain changes and swelling of the back of the eye. Researchers are unsure what causes the syndrome or why only certain astronauts develop it, but the shift of bodily fluids toward the head in weightlessness may play a role. Some scientists believe genetics related to how the body processes B vitamins may affect how astronauts respond to those fluid shifts. Participating crew will test whether a daily B vitamin supplement can ease or prevent the development of symptoms. They also will investigate if cuffs worn on astronauts’ thighs to keep fluids in the legs could be an effective intervention.
    Upon return, the select crew members will complete surveys that record any discomfort or injuries associated with landing, such as scrapes and bruises. Results of the surveys­­ ̶ when combined with data retrieved by sensors in the vehicle­­ ̶ will help researchers catalog these injuries and improve the design of spacecraft.
    Crew members began participating in the studies about a year before their mission, learning about the work and offering baseline health data. They will continue to provide data for the experiments for up to two years after returning home.
    ____
    NASA’s Human Research Program pursues the best methods and technologies to support safe, productive human space travel. Through science conducted in laboratories, ground-based analogs, commercial missions, and the International Space Station, the program scrutinizes how spaceflight affects human bodies and behaviors. Such research drives NASA’s quest to innovate ways that keep astronauts healthy and mission-ready as human space exploration expands to the Moon, Mars, and beyond.

    [embedded content]
    Astronauts aboard the International Space Station typically exercise for two hours each day. From running to cycling to weightlifting, learn how crew members complete fitness regimens in space and commit to staying healthy – even in microgravity (Credit: NASA).

    MIL OSI USA News –

  • MIL-OSI USA: Chairman Aguilar: Democrats are on the side of working people

    Source: US House of Representatives – Democratic Caucus

    The following text contains opinion that is not, or not necessarily, that of MIL-OSI – March 04, 2025

    WASHINGTON, D.C. — Today, House Democratic Caucus Chair Pete Aguilar and Vice Chair Ted Lieu were joined by Congressional Progressive Caucus Chair Greg Casar and New Democrat Coalition Chair Brad Schneider for a press conference highlighting House Democrats’ unity against the Republican Budget that cuts Medicaid to pay for tax cuts for billionaires. 

    CHAIRMAN AGUILAR: Good morning. Pleased to be joined with my colleague Ted Lieu, Vice Chair of the Democratic Caucus, as well as Greg Casar, the Chair of the Congressional Progressive Caucus and the Chair of the New Democratic Coalition, Brad Schneider.

    Last week, House Democrats from every corner of our Caucus voted against the House Republican Budget, which cut Medicaid $880 billion to pay for tax cuts for billionaires. We want to make health care more affordable and more available to the American people. This is in stark contrast to Republicans who voted to kick children off their health care and to put seniors at risk.

    As President Trump prepares for tonight’s speech, it’s clear that Democrats are on the side of working people, while Republicans are only looking out for their billionaire friends. Trump and Republicans have broken their promise to lower costs on day one, which was his commitment, to focus on tax giveaways for corporations and billionaires who don’t need any more help. In fact, Trump’s reckless tariffs, just announced last night, will raise prices on gas, produce at grocery stores, beer, lumber to build homes, crude oil and parts that make cars.

    As families struggle to make ends meet, Democrats are united against Trump and Elon Musk dismantling the services that families rely on, while steering more taxpayer dollars to themselves and their billionaire friends. They’re dismantling the VA health care and laying off thousands of veterans, as Trump stands with Putin and risks our national security. Tonight, we expect the President to put on a master class in dishonesty. We expect the President will focus not on everyday Americans, but on his friends and his ego. No matter what he says, he cannot change the damage he’s done already and the fact that his agenda is going to raise prices for everyday Americans. 

    Vice Chair Ted Lieu.

    VICE CHAIR LIEU: Thank you, Chairman Aguilar. Honored to be here with Representatives Greg Casar and Brad Schneider. I want to tell you about a meeting I had today with Vote Vets. They brought in a number of veterans who were fired, and I want to tell you a story about one of them. Her name is Eileen. She is an Air Force veteran. She then went to work for FEMA. She’s in a rural part of Alabama. She was one of the first to volunteer with FEMA to deploy to Hurricane Helene. On President’s Day, she got an email firing her with no notice, and she couldn’t even go back to her office. They sent her UPS boxes saying, ‘You put your government cell phone and laptop in this box and you ship it back to us.’ A few days later, she had to go out to a field where her supervisor from FEMA had to walk out and give her her box from her items at her office. She has two kids, four and 10. She now has no job. 

    This is not how we should treat veterans, not how we should treat federal employees, not how we should treat any American. And this is what Donald Trump did to her. And he’s done that to a large number of federal employees. And if you look at the federal workforce, about one in four are veterans. This is not how they should be treated, and most of these actions are simply brazenly illegal. We have a number of court cases being filed. We’re winning a number of those cases. Others are going to go into litigation, and I call on the Administration to stop illegally firing our veterans and other federal employees. 

    I also now want to touch on the subject of tariffs. You’ve seen with the indiscriminate tariffs that the President has both imposed and threatened to impose, that not only is the stock market tanking, but also inflation is up, consumer sentiment is down, and the Atlanta Fed has now predicted that we’re going to contract this quarter in terms of GDP. That is shocking, and that is all because of actions of one person, the President, who is massively harming our economy. 

    And then, I’d like to conclude now on Ukraine. I don’t know why Donald Trump is scared of Putin. He clearly is. He acts like he’s scared of Putin. And right now, with his pause in funding to Ukraine, I just want to let Ukrainians know to please hang in there. The President of the United States cannot extend that pause because it would be illegal. Congress, on a bipartisan basis, appropriated that funding to Ukraine. Ukraine is going to get that funding. And with that, I’d like to introduce our amazing Representative from Austin, Texas, Greg Casar. He has done a fantastic job as leader of the Congressional Progressive Caucus.

    REP. CASAR: Thank you so much Vice Chair Lieu and Chairman Aguilar. I also want to thank New Dems Chairman Brad Schneider, who I’m proud to call a partner in the fight to protect Medicare, Medicaid, Social Security and the American people.

    Tonight, millions of Americans will tune in to watch the President address a Joint Session of Congress. I do not know what Trump will say, but I can guarantee you that he is going to lie to the American people and not tell the truth about what MAGA Republicans in Congress want to do to you right now. So let me say it clearly, whatever political games that Donald Trump plays tonight, whatever lies he tells and whatever show he puts on, people watching at home should know that Trump and House Republicans want to steal your health care, steal your taxpayer money and hand it over to their billionaire buddies and to their donors.

    In Congress, Republicans are advancing a budget that would end Medicaid as we know it. And Elon Musk is trying to cut your Medicare and your Social Security. Social Security that seniors earned throughout their lifetime is what Elon Musk just recently called a ‘Ponzi scheme.’ I’ll say it again. Elon Musk just called Social Security, ‘the biggest Ponzi scheme of all time.’ That’s right, a guy that makes $8 million per day from federal government contracts thinks that seniors getting $65 a day from Social Security is a ‘Ponzi scheme.’ Their plan is plain and simple: guys like Elon Musk get richer and you get screwed. 

    But here’s the good news, Democrats are united and fighting back to protect your Social Security, your Medicare and your Medicaid. New Democrats, Congressional Progressive Caucus Democrats, the two biggest ideological caucuses here in the Congress, have put out a joint letter that includes 100% of our members from our two Coalitions saying we will not vote to cut your Medicare, your Medicaid and your Social Security. Over 200 House Democrats showed just in a matter of days that we are united with the American people in this fight. So while we may not all agree on every single issue, we are saying with one voice, hands off Medicare, hands off Medicaid and hands off of Americans’ Social Security.

    So now the question becomes: will any three House Republicans grow a backbone? Will any three House Republicans do the right thing and act like U.S. Representatives instead of like Trump employees, and join us? Because if three Congressional House Republicans join together with Democrats to do the right thing, there will be no Social Security cuts. We can prevent cuts to Medicaid and Medicare and to Social Security. But if House Republicans choose instead unanimously to come after Social Security and Medicaid and Medicare, then they will own the terrible consequences for working people.

    Thank you so much. And now I’d like to hand this over to my partner, the Chairman of the New Democratic Coalition, Brad Schneider.

    REP. SCHNEIDER: Thank you Chair Casar, Chairman Aguilar, Vice Chair Lieu. It’s good to be standing here with you in one common voice. 

    Before I read my prepared remarks and talk about our joint letter, I want to touch on what Vice Chair Lieu talked about, veterans. I have the privilege of representing Naval Station Great Lakes in North Chicago, Illinois. Every single sailor, recruit, who enlists in the Navy shows up in North Chicago for 10 weeks of basic training. I’ve had the privilege of attending those graduations. I see those 17-, 18-, and 19-year-old young people, men and women, who say, ‘I want to serve my country. I want to put on the uniform of the United States, go to places I do not know, do things I have no idea if I’ll be able to do, to protect the American people and the American way of life.’ Many of those people serve two years, four years. Many serve 20 years or more. All of them, committed and dedicated to bettering our country. And many of them, when they finish their service, are not done serving our country. They go to work with the federal government. 

    They’re dedicated federal workers who are serving their nation in their local communities, many here in Washington. They’re the people who work in Social Security, the Forest Rangers in our national parks, the folks who provide care at VA hospitals, and they are the ones who are getting the letters from Elon Musk and DOGE in the middle of the night saying, ‘Your service is no longer desired and we no longer value your performance.’ 

    This is wrong, and this is weakening our country, and this is why we are standing before you united to say it has to stop. I’m very proud that the CPC, Congressional Progressive Caucus, New Democrat Coalition, others have come together. We’ve made a very strong statement. I’m proud to lead 110 members of the New Democrat Coalition in joining in that statement, saying, ‘We cannot allow dangerous cuts to programs that Americans have actually paid for out of their hard earned dollars.’ Medicare, Medicaid, Social Security. 

    The headline is and should be, House Democrats are united, in deep contrast to what we’re seeing from our Republican colleagues. While the Democrats are focused on lowering costs, Republicans are pushing a budget that will result in cuts to health care and benefits that have been earned by hard working Americans. While Democrats are focused on making our community safe, Musk and DOGE are firing thousands of employees who help keep planes in the sky, prevent diseases like bird flu and measles from spreading and serve our veterans after they complete their service to our nation. 

    Democrats are working tirelessly to bring down prices of everyday products, while President Trump, just today, levied 25% taxes on the American consumer that will raise costs for groceries, for cars and trucks, gasoline, new construction for houses and many other everyday products. Meanwhile, President Trump and Congressional Republicans are doing everything they can to give a free ride to oligarchs like Elon Musk and his wealthy billionaire friends, and they’re putting the burden for all of this on our seniors, our children, our first responders, on people who educate our children, build our houses, work on the factory floor, who take care of our communities and tend to us when we are sick. It is these hard working people who are in the crosshairs of the Republicans’ actions. 

    One of these people is my guest tonight. Adam Mulvey is a 20-year Army veteran who served three tours in Iraq and one in Afghanistan. He’s one of 6,000 of these veterans we’ve talked about who was fired between February 13th and 24th. He works, or worked, at Lovell Federal Health Care Center. James A. Lovell Center is the only hospital in our country that serves both veterans and active military and every one of those recruits I just mentioned. His job was to help provide emergency management services, planning and preparing in the case of a tornado or another emergency or even an active shooter. He served 35,000 veterans in our area, tens of thousands of active duty sailors and other military members and the 40- to 50,000 people each year who go through Naval Station Great Lakes. 

    We all believe government should be efficient, but Trump and Musk are taking a sledgehammer to Americans’ lives and our livelihoods. And I am proud to stand with all of my colleagues here today saying it has to stop. Thank you, and I am proud to yield back to Chairman Aguilar. 

    Video of the full press conference can be viewed here.

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    MIL OSI USA News –