Edited by Teja Lele Desai
Edited by Teja Lele Desai
Fig.1 Fig. 1 - Gradient Array-Dipole IP Chargeability with first drill hole location Yalgogrin Gold Property Fig. 2 Yalgogrin Gold Property – Map of Historic Drill Holes and Results VANCOUVER, British Columbia, March 03, 2021 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSXV: AIS, OTCQB: AISSF) (the "Company" or "AIS”) is delighted to report that Drillit Consulting from Parkes NSW have mobilized their diamond drill rig and commenced drilling today for a 1,000m drill program on the highly prospective gold bearing Neighbours Farm Prospect, part of the 60% owned Yalgogrin Property on the Lachlan Fold Belt, NSW, Australia. Phil Thomas, CEO commented, “We have been able to combine the geophysics with new 3D inversions to better target the drill holes where 32.2g/t Au have been recorded at 0.5m below surface at the Neighbours Farm Prospect. These geophysics results suggest a high probability of exceptional grades in the oxidized zone down to roughly 30m depth. Deeper drilling will also be carried out in the granites below to target the sulphide zone.” Fig. 1 – Gradient Array-Dipole IP Chargeability with first drill hole location Yalgogrin Gold Property:https://www.globenewswire.com/NewsRoom/AttachmentNg/a1aebeb3-fe14-4293-8f49-f0f460130e45 Fig. 2 – Yalgogrin Gold Property – Map of Historic Drill Holes and Results:https://www.globenewswire.com/NewsRoom/AttachmentNg/2a406142-820a-41a9-ac5a-0e5906928c41 Technical information in this news release has been reviewed and approved by Phillip Thomas, BSc Geol MAIG who is a Qualified Person under the definitions established by the National Instrument 43-101. About A.I.S. Resources LimitedA.I.S. Resources Limited is a publicly traded investment issuer listed on the TSX Venture Exchange focused on precious and base metals exploration. AIS’s value add strategy is to acquire prospective exploration projects and enhance their value by better defining the mineral resource with a view to attracting joint venture partners and enhancing the value of its portfolio. The Company is managed by a team of experienced geologists and investment bankers, with a track-record of successful capital markets achievements. In November 2020, AIS acquired a 60% interest in the 58 km² New South Wales Yalgogrin Gold Project JV, the right to acquire the 28 km² Fosterville-Toolleen Gold Project located 10 km from Kirkland Lakes Fosterville gold mine and 100% interest in 167 km² Kingston Gold Project in Victoria Australia near Stawell which settled in January 2021. It has also acquired an option over 596 km² of exploration licence in western Victoria near Casterton where gold and other minerals have been discovered. A.I.S. Resources LimitedFor further information, please contact:Phillip Thomas, Chief Executive Officer Tel: +1-747-200-9412 Email: email@example.comOrMartyn Element, Executive ChairmanTel: +1-604-220-6266Email: firstname.lastname@example.orgWebsite: www.aisresources.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. ADVISORY: This press release contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the Private Placement. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Corporation can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The intended use of the proceeds of the Private Placement by the Corporation might change if the board of directors of the Corporation determines that it would be in the best interests of the Corporation to deploy the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NEW YORK, March 03, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of AgEagle Aerial Systems, Inc. (NYSE: UAVS), Infinity Q Diversified Alpha Fund (NASDAQ: IQDAX, IQDNX), and Velodyne Lidar, Inc. (NASDAQ: VLDR). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided. AgEagle Aerial Systems, Inc. (NYSE: UAVS) Class Period: September 3, 2019 to February 18, 2021 Lead Plaintiff Deadline: April 27, 2021 On October 14, 2020, news broke that Amazon did not have a partnership agreement with AgEagle, and in fact never did. The Wichita Business Journal published a story with the headline: “Exclusive: Who’s AgEagle’s big customer? We now know who it’s not.” On this news, shares of AgEagle, fell $5.13, or 36.4%, to close at $8.96 on February 18, 2021, damaging investors. The complaint, filed on February 26, 2021, alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) AgEagle did not have a partnership with Amazon and in fact never had any relationship with Amazon; (2) rather than correct the public’s understanding about a partnership with Amazon, defendants were actively contributing to the rumor that AgEagle had a partnership with Amazon; and (3) as a result, defendants’ statements about AgEagle’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. For more information on the AgEagle class action go to: https://bespc.com/cases/UAVS Infinity Q Diversified Alpha Fund (NASDAQ: IQDAX, IQDNX) Class Period: December 21, 2018 to February 22, 2021 Lead Plaintiff Deadline: April 27, 2021 On February 22, 2021, Infinity Q filed a request with the SEC for an order pursuant to Section 22(e)(3) of the Investment Company Act of 1940 suspending the right of redemption with respect to shares of the Fund, effective February 19, 2021, because of Infinity Q’s inability to determine Fund Pricing, or Net Asset Value (“NAV”). The request also stated that the Fund was liquidating its portfolio and distributing its assets to shareholders The complaint, filed on February 26, 2021, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Infinity Q’s Chief Investment Officer made adjustments to certain parameters within the third-party pricing model that affected the valuation of the swaps held by the Fund; (2) consequently, Infinity Q would not be able to calculate NAV correctly; (3) as a result, the previously reported NAVs were unreliable; (4) because of the foregoing, the Fund would halt redemptions and liquidate its assets; and (5) as a result, the prospectuses were materially false and/or misleading and failed to state information required to be stated therein. When the true details entered the market, the lawsuit claims that investors suffered damages. For more information on the Infinity Q class action go to: https://bespc.com/cases/InfinityQ Velodyne Lidar, Inc. (NASDAQ: VLDR) Class Period: November 9, 2020 to February 19, 2021 Lead Plaintiff Deadline: May 3, 2021 On February 22, 2021, Velodyne announced that the Board had “removed David Hall as Chairman of the Board and terminated Marta Hall’s employment as Chief Marketing Officer of the Company” after the Audit Committee’s investigation “concluded that Mr. Hall and Ms. Hall each behaved inappropriately with regard to certain Board and Company processes, and failed to operate with respect, honesty, integrity, and candor in their dealings with Company officers and directors.” In addition, the Company announced that Velodyne’s Board formally censured Mr. Hall and Ms. Hall, but that they would remain directors of Velodyne. On this news, Velodyne’s common stock fell $3.14, or approximately 15%, to close at $17.97 per share on February 22, 2021. Additionally, Velodyne’s warrants fell $1.47, or approximately 20%, to close at $5.90 per warrant on February 22, 2021. The complaint, filed on March 2, 2021, alleges that throughout the Class Period defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors that: (1) that certain of Velodyne’s directors had failed to operate with respect, honesty, integrity, and candor in their dealings with the Company’s officers and directors; (2) that the Company was investigating the foregoing matters; and (3) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times. For more information on the Velodyne class action go to: https://bespc.com/cases/VLDR About Bragar Eagel & Squire, P.C.:Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes. Contact Information:Bragar Eagel & Squire, P.C.Brandon Walker, Esq. Melissa Fortunato, Esq.Marion Passmore, Esq.(212) email@example.com
Sharad Bobde asked a rape suspect if he would marry his accuser and seemed to justify marital rape.
CALGARY, Alberta, March 03, 2021 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) reports its 2020 year-end results and annual reserves. In a year of unprecedented challenges, Athabasca demonstrated the exceptional resilience of its low-decline assets. In 2021, Athabasca is focused on resuming its pre-COVID business plan of free cash flow generation, disciplined operations and preserving long term future projects across its portfolio. Armed with an unrestricted cash balance of $165 million, the Company is focused on refinancing its debt in order to capture the unparalleled cashflow generation potential from its long reserve life, oil weighted asset base. Q4 2020 and 2020 Corporate Highlights Production: 34,233 boe/d (89% Liquids) in Q4 and 32,483 boe/d (88% Liquids) in 2020.Adjusted Funds Flow: $11 million in Q4 and ($19) million in 2020.Capital Expenditures: $89 million ($39 million in Light Oil and $50 million in Thermal Oil) in 2020.Balance Sheet & Sustainability: $165 million of unrestricted cash at year-end; Net Debt of $412 million representing 2.5x 2021 forecasted EBITDA (US$55 WTI/US$12.50 WCS heavy differential). The Company has an unhedged EBITDA sensitivity of ~$70 million for a US$5 move in oil price. 2020 Reserves Reserves: 1.2 billion boe Proved plus Probable (2P) Reserves, with Leismer/Corner underpinning 1 billion barrels of low risk, long reserve life resource.Reserve Value (NPV10 before tax): $508 million Proved Developed Producing and $1.6 billion Total Proved reserves under year-end 2020 price forecasts that are conservative relative to current strip commodity prices. 2021 Outlook Maintaining Production with Low Sustaining Capital: $100 million capital budget funded within forecasted funds flow; maintaining production guidance of 31,000 – 33,000 boe/d (90% Liquids).Balance Sheet: Athabasca plans to refinance its US$450 million Second Lien Notes during the year as energy credit markets continue to improve. The Company maintains strong Liquidity of $165 million that is forecasted to grow through 2021 under current strip commodity prices.Thermal Oil: Activity at Leismer will include drilling two infill wells at Pad L6 and an additional well pair at Pad L7, with an expected on stream in H2 2021. The Company also plans to drill five well pairs at Pad L8 in H1 2021. This highly economic project will support production levels in 2022 and beyond.Light Oil: No new wells are expected to be placed on-stream during the year with operations focused on maintaining low operating costs and top tier netbacks. In Q4, the Company achieved operating costs of $7.93/boe and an industry leading operating netback of $22.61/boe. Recent ESG Initiatives Kitaskino Nuwenëné Wildland Provincial Park: In late 2020, Athabasca relinquished 235,000 acres of mineral-land interests, in partnership with the Mikisew Cree First Nation and the Government of Alberta, to create the world’s largest contiguous protected boreal forest area.Health, Safety and Environmental Results: The Company continued its impressive record with an industry leading TRIF (Total Recordable Injury Frequency) of 0.1 and zero recordable spills for 2020. Business Environment and the Recovery from COVID-19 The COVID-19 pandemic that began in March 2020 had a significant negative impact on global commodity prices due to a reduction in oil demand as countries around the world enacted emergency measures to combat the spread of the virus. The Company took swift action in response to the pandemic and the economic crisis. Major initiatives included a reduction to the 2020 capital program, temporary production curtailments, partnering with service companies to reduce operating costs and reducing future financial commitments on the Keystone XL pipeline (“KXL”). In the second half of 2020, commodity prices began to improve with both OPEC+ and North American producers reducing production allowing for global inventories to fall. Economies have started to reopen with positive developments on the vaccine front and world oil demand has almost recovered to pre-pandemic levels. Supply and demand fundamentals are now supporting a much stronger oil futures market. In Alberta, physical markets and regional benchmark prices (e.g. WCS heavy oil) have also strengthened with WTI prices and tighter differentials as a result of curtailed volumes and falling inventories. Athabasca expects current WCS differentials to remain supported by muted industry growth projects, significant Q2 turnaround programs in the oil sands, and improving basin egress (including Enbridge Line 3 replacement H2 2021). There is strong demand for heavy oil from US Gulf Coast refineries as they face structural declines in global heavy oil supply (Venezuela and Mexico). Athabasca believes conditions are emerging for WCS heavy oil to be among the most valuable global crude benchmarks. Long Term Egress Update In January 2021, the US Government revoked the KXL Presidential permit and construction on the project was halted. Athabasca holds 10,000 bbl/d of capacity on KXL. This recent development does not impact the Company’s current liquidity position. Athabasca also has a 20 year firm service transportation agreement with TC Energy for 7,200 bbl/d on the existing Keystone pipeline from Hardisty to the US Gulf Coast. The Company is anticipating an update on this service availability in 2021. The Company also has 20,000 bbl/d service on the TransMountain Expansion (“TMX”) pipeline, with an expected in-service date in late 2022. The TMX service is increasingly valuable long-term capacity for Athabasca to access world markets. Balance Sheet Outlook Athabasca plans to refinance its US$450 million Second Lien Notes during the year as energy credit markets continue to improve. The Company’s 2021 capital program is fully funded within forecasted funds flow with strong free cash flow potential. Activity is focused on sustaining production at the Company’s cornerstone Leismer asset. These investments will support strong underlying asset and lending value. The Company maintains liquidity of $165 million at year-end 2020 that is forecasted to grow through H2 2021 with a front-end weighted capital program. The Company’s liquids weighted, long reserve life asset base supports attractive reserve coverage debt metrics with 0.9x Proved Developed Producing reserves to Total Debt and 2.7x Proved reserves to Total Debt (McDaniel NPV10 before tax reserve value / US$450 million Second Lien Notes). With strengthening oil price fundamentals the Company estimates its net debt to 2021 forecasted EBITDA at 2.5x (US$55 WTI & US$12.50 WCS heavy differential). The Company intends to remain nimble and creative in accessing the credit capital markets which could include a combination of term debt and bank debt to optimize its current capital structure. The Company’s goals include providing multi-year funding certainty and lowering the overall quantum and cost of debt. Financial and Operational Highlights Three months endedDecember 31, Year endedDecember 31,($ Thousands, unless otherwise noted)2020 2019 2020 2019 CONSOLIDATED Petroleum and natural gas production (boe/d) 34,233 36,403 32,483 36,196 Operating Income (Loss)(1)(2)$30,935 $42,881 $81,011 $233,219 Operating Netback(1)(2) ($/boe)$9.89 $13.84 $6.73 $17.95 Capital expenditures$17,202 $69,796 $111,640 $199,141 Capital Expenditures Net of Capital-Carry(1)$17,202 $46,259 $88,900 $140,207 LIGHT OIL DIVISION Petroleum and natural gas production (boe/d)(1) 9,394 8,642 9,738 10,138 Percentage Liquids (%)58% 54% 60% 54% Operating Income (Loss)(1)$19,542 $16,287 $62,002 $95,004 Operating Netback(1) ($/boe)$22.61 $20.49 $17.40 $25.68 Capital expenditures$117 $46,473 $61,651 $109,687 Capital Expenditures Net of Capital-Carry(1)$117 $22,936 $38,911 $50,753 THERMAL OIL DIVISION Bitumen production (bbl/d) 24,839 27,761 22,745 26,058 Operating Income (Loss)(1)$20,746 $28,658 $(10,140) $182,196 Operating Netback(1) ($/bbl)$9.17 $12.44 $(1.19) $19.59 Capital expenditures$16,915 $23,229 $49,787 $89,343 CASH FLOW AND FUNDS FLOW Cash flow from operating activities$16,079 $32,975 $(22,910) $92,632 per share – basic$0.03 $0.06 $(0.04) $0.18 Adjusted Funds Flow(1)$10,753 $21,478 $(18,727) $154,760 per share – basic$0.02 $0.04 $(0.04) $0.30 NET INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) Net income (loss) and comprehensive income (loss)$(56,891) $(8,757) $(657,525) $246,865 per share – basic$(0.11) $(0.02) $(1.24) $0.47 per share – diluted$(0.11) $(0.02) $(1.24) $0.47 COMMON SHARES OUTSTANDING Weighted average shares outstanding – basic 530,675,391 523,428,276 528,837,646 521,316,320 Weighted average shares outstanding – diluted 533,453,490 523,428,276 528,837,646 526,290,689 Dec. 31, Dec. 31,As at ($ Thousands) 2020 2019LIQUIDITY AND BALANCE SHEET Cash and cash equivalents $165,201 $254,389 Restricted cash $135,624 $110,609 Available credit facilities(3) $348 $85,815 Capital-carry receivable (current and long-term portion - undiscounted) $- $22,740 Face value of long-term debt(4) $572,940 $583,425 (1) Refer to the “Reader Advisory” section within this press release for additional information on Non-GAAP Financial Measures and production disclosure.(2) Includes realized commodity risk management loss of $9.4 million and gain of $29.1 million for the three months and year ended December 31, 2020, respectively (three months and year ended December 31, 2019 - $2.1 million loss and $44.0 million loss).(3) Includes available credit under Athabasca's Credit Facility and Unsecured Letter of Credit Facility (see page 15 of the MD&A).(4) The face value of the 2022 Notes is US$450 million. The 2022 Notes were translated into Canadian dollars at the December 31, 2020 exchange rate of US$1.00 = C$1.2732 (2019 – C$1.2965). Operations Update Thermal Oil Bitumen production for Q4 2020 and 2020 averaged 24,839 bbl/d and 22,745 bbl/d, respectively. 2020 production was impacted by voluntary curtailments at Leismer in Q2 and the suspension of operations at Hangingstone during Q2 and Q3 due to unprecedented low pricing. The Thermal Oil division generated Operating Income of $20.7 million and ($10.1) million in Q4 2020 and 2020, respectively. Operating Income was disproportionally impacted by extreme low pricing during Q2 and Q3 and subsequently strengthened with the return of production and stronger commodity prices in Q4 2020. Operating Netbacks for Q4 2020 were $9.17/bbl ($13.20/bbl at Leismer and -$0.29/bbl at Hangingstone). Capital expenditures for Q4 2020 and 2020 were $16.9 million and $49.8 million, respectively. Leismer Bitumen production for Q4 2020 and 2020 averaged 17,379 bbl/d and 18,264 bbl/d, respectively. In 2020, Pad L7 bitumen production ramped up to ~5,000 bbl/d. The pad demonstrated the successful utilization of technologies to increase well lengths by 50% (achieving lateral lengths of ~1,250 meter). In addition to improved economics, the successful implementation of longer well pairs decreases Athabasca’s pad surface footprint by ~50% in the Leismer long-term development program. During 2020, Athabasca implemented a number of permanent costs saving measures at Leismer. A water disposal project was completed in Q1 reducing non-energy operating costs by ~$10 million on an annual basis. Additionally, non-condensable gas co-injection (“NCG”) was implemented on the mature pads and in conjunction with Pad L7 has reduced the projects Steam Oil Ratio (“SOR”) to 3.3x in 2020 (from 3.7x in 2019) and supported reduced emissions intensity by ~10% when compared 2019. In 2021, capital will be focused on sustaining production at Leismer. The Company recently completed the drilling of two infill wells at Pad L6 and an additional well pair at Pad L7 with first production expected to be on stream in H2 2021. Athabasca has continued to progress project readiness for a five well-pair sustaining pad (Pad L8) and has sanctioned drilling to commence in March. The L8 project is highly economic with go-forward capital costs of $25 million and is expected to drive competitive capital efficiencies. L8 drilling operations are expected to be completed mid-year, followed by facility construction in Q3, and initial steam circulation before year-end. The Company anticipates first production in Q2 2022 with plateau rates of greater than 5,000 bbl/d in Q4 2022. The existing pipeline will support future development for up to a total of 14 well pairs on Pad L8. Leismer has an estimated US$27/bbl WCS 2021 operating break-even (US$12.50 WCS heavy differential). Hangingstone Bitumen production for Q4 2020 and 2020 averaged 7,460 bbl/d and 4,481 bbl/d, respectively. Operations were suspended in April 2020 for approximately five months in response to unprecedented commodity prices. During the summer, the Company completed Hangingstone’s first major scheduled plant turnaround. Operations resumed on September 1 and the asset is expected to ramp-up to previous bitumen rates of 9,000 – 9,500 bbl/d in late 2021. The reservoir is responding well and production averaged ~8,800 bbl/d in February 2021. During 2020 the Company implemented several cost saving measures reducing non-energy operating costs to ~$9/bbl and resulting in ~$7 million of permanent annual savings. The Company received regulatory approval in 2020 for the implementation of NCG co-injection. Injection was recently implemented on two well pairs with early results demonstrating strong pressure maintenance and reduced energy intensity. The Company plans to implement this technology field-wide in 2021. In 2021, Hangingstone will have no capital allocation other than routine pump replacements and has no sustaining capital requirements for the next several years. The asset has an estimated US$36/bbl WCS 2021 operating break-even (US$12.50 WCS heavy differential). Light Oil Production averaged 9,394 boe/d (58% Liquids) and 9,738 boe/d (60% Liquids) in Q4 2020 and 2020, respectively. The business division generated Operating Income of $19.5 million ($22.61/boe) and $62.0 million ($17.40/boe) during these periods. Athabasca’s Light Oil Netbacks continue to be top tier when compared to Alberta’s other liquids-rich Montney and Duvernay resource producers and are supported by a high liquids weighting and low operating expenses. Capital expenditures net of capital-carry were $0.1 million and $39 million in Q4 2020 and 2020, respectively. Placid Montney At Placid, the Company completed and placed 10 gross Montney wells on production during the year. Well costs continue to improve with the 2020 program achieving $6.2 million drilling and completion (“D&C”) costs. No capital activity is budgeted for 2021. Placid is positioned for flexible future development with an inventory of ~150 gross drilling locations and no near-term land retention requirements. Kaybob Duvernay At Kaybob, the Company placed 17 gross Duvernay wells on production during the year across the volatile oil window. Production results have been consistently strong with wells screening as top liquids producers in the basin. Well results in Two Creeks and Kaybob East have seen average productivity of ~725 boe/d IP180s (85% liquids). Under full development, D&C costs are expected to be less than $7.5 million in the volatile oil window. These results coupled with a large well inventory (~700 gross drilling locations across the play) and flexible development timing indicate significant value to Athabasca. During Q1 2020, the capital-carry provision associated with the Kaybob partnership was completed, after an investment of C$1 billion over four winter drilling seasons. The play has seen significant commercial de-risking and is ready for future development. In 2021, minimal capital has been budgeted towards Kaybob until a more robust macro environment is certain. The Kabob area is supported by a strong Joint Development Agreement, established infrastructure and no near-term land retention requirements. 2021 Budget and Outlook Athabasca is forecasting a 2021 capital budget of $100 million ($95 million Thermal Oil and $5 million Light Oil). The updated budget reflects $25 million for the increased scope of drilling and commissioning Pad L8 at Leismer. The capital program will support base production levels in H2 2021 and beyond. The program is anticipated to be fully funded within 2021 forecasted funds flow with upside potential at current strip pricing. Annual production guidance is maintained between 31,000 – 33,000 boe/d (90% Liquids). 2020 Year-End Reserves Athabasca’s independent reserves evaluator, McDaniel & Associates Consultants Ltd. (“McDaniel”), prepared the year-end reserves evaluation effective December 31, 2020. The Company’s 2P reserves base is 1.2 billion boe Proved plus Probable, with Leismer/Corner underpinning 1 billion barrels of low risk, long reserve life resource. McDaniel’s estimates reserve value (NPV10 before tax) of $508 million Proved Developed Producing and $1.6 billion Total Proved reserves under conservative year-end 2020 price forecasts relative to the current strip commodity prices. For additional information regarding Athabasca’s reserves and resources estimates, please see “Independent Reserve and Resource Evaluations” in the Company’s 2020 Annual Information Form which is available on the Company’s website or on SEDAR www.sedar.com. Light OilThermal OilCorporate 201920202019202020192020Reserves (mmboe) Proved Developed Producing131468618176Total Proved4637410365456403Proved Plus Probable72731,2251,0831,2971,156 NPV10 BT ($MM)1 Proved Developed Producing$170$165$963$343$1,133$508Total Proved$375$234$2,507$1,321$2,882$1,555Proved Plus Probable$604$414$4,364$2,307$4,968$2,721 1) Net present value of future net revenue before tax and at a 10% discount rate (NPV 10 before tax) for 2020 is based on an average of McDaniel, Sproule and GLJ pricing as at January 1, 2021. NPV 10BT for 2019 is based on an average of McDaniel, Sproule and GLJ pricing as at January 1, 2020.2) Numbers in the table may not add precisely due to rounding. Environment, Social and Governance (“ESG”) Update Athabasca believes that strong performance in health, safety, and environment is essential to achieving our business goals and meeting the needs of stakeholders. We are focused on being a valued partner in local communities and industry programs while developing Alberta’s energy resources responsibly. We have developed policies, programs and strong governance practices to be consistent with these objectives. In February 2021, the Government of Alberta announced an 143,800 hectare expansion of the Kitaskino Nuwenëné Wildland Provincial Park (“KNWP”) in Northern Alberta creating the largest continuous area of protected boreal forest in the world. Athabasca relinquished ~95,000 hectares of oil sands rights to support the expansion of the KNWP. “Since 2019, Athabasca Oil has been collaborating with the Mikisew Cree First Nation and the Government of Alberta to expand the Kitaskino Nuwenëné Wildland Park. Athabasca Oil has relinquished over 95,000 hectares of mineral rights to help make this park expansion a reality. The expansion of the park will help the province meet its biodiversity and conservation goals in this culturally and ecologically significant area. This represents a significant success for Indigenous communities, industry and Albertans.” Rob Broen, President and CEO, Athabasca Oil Corporation The Company plans to release its inaugural ESG report in 2021. About Athabasca Oil Corporation Athabasca Oil Corporation is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. Situated in Alberta’s Western Canadian Sedimentary Basin, the Company has amassed a significant land base of extensive, high quality resources. Athabasca’s common shares trade on the TSX under the symbol “ATH”. For more information, visit www.atha.com. For more information, please contact: Matthew Taylor Chief Financial Officer 1-403-817-9104 firstname.lastname@example.org Reader Advisory: This News Release contains forward-looking information that involves various risks, uncertainties and other factors. All information other than statements of historical fact is forward-looking information. The use of any of the words “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “target”, “should”, “believe”, “predict”, “pursue”, “potential”, “view” and ”contemplate” and similar expressions are intended to identify forward-looking information. The forward-looking information is not historical fact, but rather is based on the Company’s current plans, objectives, goals, strategies, estimates, assumptions and projections about the Company’s industry, business and future operating and financial results. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. No assurance can be given that these expectations will prove to be correct and such forward-looking information included in this News Release should not be unduly relied upon. This information speaks only as of the date of this News Release. In particular, this News Release contains forward-looking information pertaining to, but not limited to, the following: our strategic plans; the Company’s 2021 Outlook; refinancing of its US$450 million Second Lien Notes; future debt levels and composition; Trans Mountain and Keystone in-service dates; timing of Leismer well on stream dates and expected benefits therefrom; our drilling plans in Leismer; Hangingstone ramp-up to previous bitumen rates; type well economic metrics; expectations for WCS heavy oil to be amongst the most valuable global crude benchmarks; and other matters. In addition, information and statements in this News Release relating to "Reserves" and “Resources” are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated, and that the reserves and resources described can be profitably produced in the future. With respect to forward-looking information contained in this News Release, assumptions have been made regarding, among other things: commodity prices; the regulatory framework governing royalties, taxes and environmental matters in the jurisdictions in which the Company conducts and will conduct business and the effects that such regulatory framework will have on the Company, including on the Company’s financial condition and results of operations; the Company’s financial and operational flexibility; the Company’s financial sustainability; Athabasca's cash flow break-even commodity price; the Company’s ability to obtain qualified staff and equipment in a timely and cost-efficient manner; the applicability of technologies for the recovery and production of the Company’s reserves and resources; future capital expenditures to be made by the Company; future sources of funding for the Company’s capital programs; the Company’s future debt levels; future production levels; the Company’s ability to obtain financing and/or enter into joint venture arrangements, on acceptable terms; operating costs; compliance of counterparties with the terms of contractual arrangements; impact of increasing competition globally; collection risk of outstanding accounts receivable from third parties; geological and engineering estimates in respect of the Company’s reserves and resources; recoverability of reserves and resources; the geography of the areas in which the Company is conducting exploration and development activities and the quality of its assets. Certain other assumptions related to the Company’s Reserves and Resources are contained in the report of McDaniel & Associates Consultants Ltd. (“McDaniel”) evaluating Athabasca’s Proved Reserves, Probable Reserves and Contingent Resources as at December 31, 2020 (which is respectively referred to herein as the "McDaniel Report”). Actual results could differ materially from those anticipated in this forward-looking information as a result of the risk factors set forth in the Company’s Annual Information Form (“AIF”) dated March 3, 2021 available on SEDAR at www.sedar.com, including, but not limited to: weakness in the oil and gas industry; exploration, development and production risks; prices, markets and marketing; market conditions; continued impact of the COVID-19 pandemic; ability to finance capital requirements; climate change and carbon pricing risk; regulatory environment and changes in applicable law; gathering and processing facilities, pipeline systems and rail; statutes and regulations regarding the environment; political uncertainty; state of capital markets; anticipated benefits of acquisitions and dispositions; abandonment and reclamation costs; changing demand for oil and natural gas products; royalty regimes; foreign exchange rates and interest rates; reserves; hedging; operational dependence; operating costs; project risks; financial assurances; diluent supply; third party credit risk; indigenous claims; reliance on key personnel and operators; income tax; cybersecurity; advanced technologies; hydraulic fracturing; liability management; seasonality and weather conditions; unexpected events; internal controls; insurance; litigation; natural gas overlying bitumen resources; competition; chain of title and expiration of licenses and leases; breaches of confidentiality; new industry related activities or new geographical areas; and risks related to our debt and securities. Also included in this News Release are estimates of Athabasca's 2021 Outlook which are based on the various assumptions as to production levels, commodity prices, currency exchange rates and other assumptions disclosed in this News Release. To the extent any such estimate constitutes a financial outlook, it was approved by management and the Board of Directors of Athabasca, and is included to provide readers with an understanding of the Company’s outlook. Management does not have firm commitments for all of the costs, expenditures, prices or other financial assumptions used to prepare the financial outlook or assurance that such operating results will be achieved and, accordingly, the complete financial effects of all of those costs, expenditures, prices and operating results are not objectively determinable. The actual results of operations of the Company and the resulting financial results may vary from the amounts set forth herein, and such variations may be material. The financial outlook contained in this New Release was made as of the date of this News release and the Company disclaims any intention or obligations to update or revise such financial outlook, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Oil and Gas Information “BOEs" may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (6 Mcf: 1 bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value. Initial Production Rates Test Results and Initial Production Rates: The well test results and initial production rates provided in this presentation should be considered to be preliminary, except as otherwise indicated. Test results and initial production rates disclosed herein may not necessarily be indicative of long-term performance or of ultimate recovery. Reserves Information The McDaniel Report was prepared using the assumptions and methodology guidelines outlined in the COGE Handbook and in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities, effective December 31, 2020. There are numerous uncertainties inherent in estimating quantities of bitumen, light crude oil and medium crude oil, tight oil, conventional natural gas, shale gas and natural gas liquids reserves and the future cash flows attributed to such reserves. The reserve and associated cash flow information set forth above are estimates only. In general, estimates of economically recoverable reserves and the future net cash flows therefrom are based upon a number of variable factors and assumptions, such as historical production from the properties, production rates, ultimate reserve recovery, timing and amount of capital expenditures, marketability of oil and natural gas, royalty rates, the assumed effects of regulation by governmental agencies and future operating costs, all of which may vary materially. For those reasons, estimates of the economically recoverable reserves attributable to any particular group of properties, classification of such reserves based on risk of recovery and estimates of future net revenues associated with reserves prepared by different engineers, or by the same engineers at different times, may vary. The Company's actual production, revenues, taxes and development and operating expenditures with respect to its reserves will vary from estimates thereof and such variations could be material. Reserves figures described herein have been rounded to the nearest MMbbl or MMboe. For additional information regarding the consolidated reserves and information concerning the resources of the Company as evaluated by McDaniel in the McDaniel Report, please refer to the Company’s AIF. Reserve Values (i.e. Net Asset Value) is calculated using the estimated net present value of all future net revenue from our reserves, before income taxes discounted at 10%, as estimated by McDaniel effective December 31, 2020 and based on average pricing of McDaniel, Sproule and GLJ as of January 1, 2021. The 700 Duvernay drilling locations referenced include: 7 proved undeveloped locations and 78 probable undeveloped locations for a total of 85 booked locations with the balance being unbooked locations. The 150 Montney drilling locations referenced include: 63 proved undeveloped locations and 35 probable undeveloped locations for a total of 98 booked locations with the balance being unbooked locations. Proved undeveloped locations and probable undeveloped locations are booked and derived from the Company's most recent independent reserves evaluation as prepared by McDaniel as of December 31, 2020 and account for drilling locations that have associated proved and/or probable reserves, as applicable. Unbooked locations are internal management estimates. Unbooked locations do not have attributed reserves or resources (including contingent or prospective). Unbooked locations have been identified by management as an estimation of Athabasca’s multi-year drilling activities expected to occur over the next two decades based on evaluation of applicable geologic, seismic, engineering, production and reserves information. There is no certainty that the Company will drill all unbooked drilling locations and if drilled there is no certainty that such locations will result in additional oil and gas reserves, resources or production. The drilling locations on which the Company will actually drill wells, including the number and timing thereof is ultimately dependent upon the availability of funding, commodity prices, provincial fiscal and royalty policies, costs, actual drilling results, additional reservoir information that is obtained and other factors. Non-GAAP Financial Measures and Production Disclosure Adjusted Funds Flow is not intended to represent cash flow from operating activities, net earnings or other measures of financial performance calculated in accordance with IFRS. Adjusted Funds Flow is calculated by adjusting for changes in non-cash working capital, restructuring expenses and settlement of provisions from cash flow from operating activities. The Adjusted Funds Flow measure allows management and others to evaluate the Company’s ability to fund its capital programs and meet its ongoing financial obligations using cash flow internally generated from ongoing operating related activities. Adjusted Funds Flow per share is calculated as Adjusted Funds Flow divided by the applicable number of weighted average shares outstanding. The Light Oil Operating Income (Loss) measure in this News Release is calculated by subtracting royalties, operating expenses and transportation & marketing expenses from petroleum and natural gas sales. The Light Oil Operating Netback measure is calculated by dividing the Light Oil Operating Income (Loss) by the Light Oil production and is presented on a per boe basis. The Light Oil Operating Income (Loss) and the Light Oil Operating Netback measures allow management and others to evaluate the production results from the Company’s Light Oil assets. The Operating Income (Loss) measure in this News Release with respect to the Leismer Project and Hangingstone Project is calculated by subtracting the cost of diluent blending, royalties, operating expenses and transportation & marketing expenses from heavy oil (i.e. blended bitumen) sales. The Thermal Oil Operating Netback measure is calculated by dividing the respective projects Operating Income (Loss) by its respective bitumen sales volumes and is presented on a per barrel basis. The Thermal Oil Operating Income (Loss) and the Thermal Oil Operating Netback measures allow management and others to evaluate the production results from the Company’s Thermal Oil assets. The Consolidated Operating Income (Loss) measure in this News Release is calculated by adding or subtracting realized gains (losses) on commodity risk management contracts, royalties, the cost of diluent blending, operating expenses and transportation & marketing expenses from petroleum and natural gas sales. The Consolidated Operating Netback measure is calculated by dividing Consolidated Operating Income (Loss) by the total sales volumes and is presented on a per boe basis. The Consolidated Operating Income (Loss) and the Consolidated Operating Netback measures allow management and others to evaluate the production results from the Company’s Light Oil and Thermal Oil assets combined together including the impact of realized commodity risk management gains or losses. The Consolidated Capital Expenditures Net of Capital-Carry and Light Oil Capital Expenditures Net of Capital-Carry measures in this News Release are outlined in the Company’s Q4 2020 MD&A. These measures allow management and others to evaluate the true net cash outflow related to Athabasca's capital expenditures. Net Debt is defined as face value of term debt plus current liabilities (adjusted for risk management contracts) less current assets (adjusted for risk management contracts and capital-carry receivable). Adjusted EBITDA is defined as Net income (loss) and comprehensive income (loss) before financing and interest expense, depreciation, depletion, impairment and taxation (recovery) expense adjusted for unrealized foreign exchange gain (loss), unrealized gain (loss) on risk management contracts, gain (loss) on revaluation of provisions and other, gain (loss) on sale of assets and stock-based compensation. Liquidity is defined as cash and cash equivalents plus available credit capacity. Liquids is defined as bitumen, light crude oil, medium crude oil and natural gas liquids. Production volumes details 2020 2019 Production Q4 Q3 Q2 Q1 Annual Q4 Q3 Q2 Q1 Annual Greater Placid: Condensate NGLsbbl/d 1,841 2,612 1,916 1,480 1,964 1,457 1,734 2,150 2,711 2,009 Other NGLsbbl/d 523 632 389 351 474 493 439 524 556 503 Natural gas(1)mcf/d 17,900 19,668 14,221 12,939 16,197 15,723 17,538 20,441 22,424 19,009 Total Greater Placidboe/d 5,347 6,522 4,675 3,988 5,138 4,571 5,096 6,081 7,004 5,680 Greater Kaybob: Oil(2)bbl/d 2,845 3,685 3,226 2,708 3,117 2,336 2,985 2,186 2,480 2,498 Other NGLsbbl/d 264 332 291 359 311 406 372 349 536 415 Natural gas(1)mcf/d 5,629 7,746 7,642 7,123 7,032 7,972 9,421 9,564 10,152 9,272 Total Greater Kaybobboe/d 4,047 5,308 4,791 4,254 4,600 4,071 4,927 4,129 4,708 4,458 Light Oil: Oil(2)bbl/d 2,845 3,685 3,226 2,708 3,117 2,336 2,985 2,186 2,480 2,498 Condensate NGLsbbl/d 1,841 2,612 1,916 1,480 1,964 1,457 1,734 2,150 2,711 2,009 Oil and condensate NGLsbbl/d 4,686 6,297 5,142 4,188 5,081 3,793 4,719 4,336 5,191 4,507 Other NGLsbbl/d 787 964 680 710 785 899 811 873 1,092 918 Natural gas(1)mcf/d 23,529 27,414 21,863 20,062 23,229 23,695 26,959 30,005 32,576 28,281 Total Light Oil divisionboe/d 9,394 11,830 9,466 8,242 9,738 8,642 10,023 10,210 11,712 10,138 Total Thermal Oil division bitumenbbl/d 24,839 20,231 17,601 28,315 22,745 27,761 25,234 23,748 27,494 26,058 Total Company productionboe/d 34,233 32,061 27,067 36,557 32,483 36,403 35,257 33,958 39,206 36,196 (1) Comprised of 97% or greater of shale gas, with the remaining being conventional natural gas. (2) Comprised of 98% or greater of tight oil, with the remaining being light and medium crude oil. This News Release also makes reference to Athabasca's forecasted total average daily production of 31,000 - 33,000 boe/d for 2021. Athabasca expects that approximately 77% of that production will be comprised of bitumen, 10% shale gas, 7% tight oil, 4% condensate natural gas liquids and 2% other natural gas liquids. Additionally, this News Release makes reference to Athabasca's well results in Two Creeks and Kaybob East that have seen average productivity of ~725 boe /d IP180s (85% Liquids), which is comprised of ~80% tight oil, ~15% shale gas and ~5% NGLs.
The man who plowed a rental van into dozens of people in Toronto, Canada in 2018 was found guilty of murder and attempted murder by a judge on Wednesday. Ten people were killed, and 16 wounded by the driver - 28-year-old Alek Minassian.Victims’ families – outside of court Wednesday - said they were relieved. ”Oh, well, it's like you're holding your breath for three years and you can finally breathe.” Nick D’Amico’s sister was killed in the attack - which Minassian had said was motived by a desire to punish society for his perceived status as an "incel" - otherwise known as an involuntary celibate. Minassian had pleaded ‘not criminally responsible.’His lawyers argued his autism spectrum disorder left him with no idea how horrific his actions were.But the judge dismissed that defense - and read a guilty verdict that was live-streamed on YouTube.Catherine Riddell was among those injured in the attack:"Oh, it was the best I could hope for. I think it was a fair decision. And he can spend the rest of his life in jail because he deserves it. I'm sorry he took lives and he didn't care. And you know what? You just have to be accountable for what you do. And he's going to have to be.”A sentencing hearing will be scheduled and - according to criminal lawyers following the case - Minassian is likely to get a life sentence.
Mexico's Supreme Court on Wednesday ruled in favor of the country's telecoms regulator over a label that aims to curb the dominance of Carlos Slim's telecommunications company America Movil. Mexico's Federal Institute of Telecommunications (IFT) acted within the constitution when it determined in 2013 that the America Movil Economic Interest Group, made up of Telcel and other subsidiaries, is a "preponderant agent" in 2013, the court said in a statement.
<p>Washington, Mar 4 (PTI) The sale of major defence equipment to India which now stands at USD 20 billion shows America's commitment to India's security and sovereignty, the Biden administration said on Wednesday.</p>
A full transcript of Philadelphia Fed President Patrick Harker's interview with Yahoo Finance on March 3.
The dollar hit a seven-month high against the yen on Thursday as an orderly rise in U.S. Treasury yields lent support ahead of a speech by Federal Reserve Chairman Jerome Powell that may determine the trend for global bond markets and currencies. The dollar also traded near a three-month high against the Swiss franc and held on to gains against most currencies as a renewed sense of calm in the Treasury market supported sentiment. Powell's comments will be closely watched to see if he expresses concern about a recent volatile selloff in Treasuries and if there is any change in his assessment of the economy before the Fed's next meeting ending March 17.
Elon Musk's concept space vehicle completes a test flight but then destroys itself in flames.
The US president criticises the easing of Covid-19 restrictions in Texas and Mississippi.
Byun Hee-soo had been dismissed by the military for undergoing gender reassignment surgery.
Researchers say findings show a ‘continued but slowing decline’ in prevalence across country
Harry Dunn's family have been given the go-ahead to proceed with a civil claim for damages against the teenager's alleged killer and her husband in the US. A judge's ruling in the Alexandria district court in Virginia has taken the Dunn family a step closer to a legal showdown with suspect Anne Sacoolas, 18 months on from the 19-year-old's death. Should there be no settlement in the case, the next legal step would be a "deposition", in which Sacoolas and her husband would be forced to provide their account of events outside of court. Mr Dunn's mother, Charlotte Charles, father Tim Dunn and twin brother Niall Dunn, would have the option to attend the deposition. The US Government asserted diplomatic immunity on behalf of 43-year-old Sacoolas following the road crash which killed Mr Dunn outside RAF Croughton in Northamptonshire in August 2019. She was charged with causing death by dangerous driving, but an extradition request submitted by the Home Office was rejected by the US State Department in January last year. On Wednesday, Judge Thomas Ellis ruled the Dunn family could proceed with their civil claim against both Mr and Mrs Sacoolas - allowing a claim of "vicarious liability" to be brought against the suspect's husband. The Virginia State law of vicarious liability means Mr Sacoolas could be liable for the teenager's death by allowing his wife to use the car which killed him.
People who get a pay rise between this April and 2026 may find themselves paying a higher rate of tax.
New Delhi, Mar 04 (ANI): While addressing an event on World Hearing Day on March 03, Union Minister for Health and Family Welfare, Harsh Vardhan said that National Programme for Prevention and Control of Deafness (NPPCD) will target over 6 percent of India’s population with disabling hearing loss. “Our National Program for Prevention & Control of Deafness has enhanced its reach to cover nearly 80% of the country's population. We plan to expand access to affordable hearing technologies for all those in need,” he added.
Washington [US], March 4 (ANI): The United States officials on Wednesday (local time) alerted lawmakers about a potential threat to the Capitol on March 4 and have heightened security as a precaution.
NEW YORK, March 03, 2021 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of CleanSpark, Inc. (NASDAQ: CLSK) between December 31, 2020 and January 14, 2021, inclusive (the “Class Period”), of the important March 22, 2021 lead plaintiff deadline. SO WHAT: If you purchased CleanSpark securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the CleanSpark class action, go to http://www.rosenlegal.com/cases-register-2025.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 22, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020 founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) CleanSpark had overstated its customer and contract figures; (2) several of CleanSpark’s recent acquisitions involved undisclosed related party transactions; and (3) as a result of the foregoing, defendants’ positive statements about CleanSpark’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the CleanSpark class action, go to http://www.rosenlegal.com/cases-register-2025.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/. Attorney Advertising. Prior results do not guarantee a similar outcome. ------------------------------- Contact Information: Laurence Rosen, Esq.Phillip Kim, Esq.The Rosen Law Firm, P.A.275 Madison Avenue, 40th FloorNew York, NY 10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212) email@example.com@firstname.lastname@example.org
Hisae Unuma's home withstood the earthquake 10 years ago which unleashed a tsunami that wrecked the Fukushima nuclear plant and forced her and 160,000 others to flee their homes.She returned recently to check on her old house.Its roof is now close to complete collapse and a bamboo had penetrated through the former living room."I'm almost 70 years old, so I don't think it's possible for me to live here. There's no base for a life here. I can't go shopping and there's no hospital, so I can't imagine building a life here."Japan's government has turned Fukushima's recovery into a symbol of national revival ahead of the Tokyo Olympic Games and is encouraging residents to return with financial aid as it decontaminates the land.But lingering worries about the nearby nuclear plant, lack of jobs and poor infrastructure is keeping many away."I want to say to the government: Please don't solve the problem with money. We should be treated like human beings, not animals. They feed us with money to shut us up. It shouldn't be like this. We want to live like human beings. That is what I really want to say."Unuma declined to claim her compensation, unwilling to be treated as a Fukushima refugee dependent on Tokyo Electric's handouts.She now lives as a vegetable farmer near the capital and insists on building a life with her own hands."There's nothing that lets me feel secure enough to continue making a living. But now since there are people who come to me to buy vegetables, that's the easiest way for me to make a living by delivering vegetables to them daily. That's a life with hope."
Most steer clear of Fukushima's restricted zone in Japan.But for Sakae Kato, it's the place of his life's mission: taking care of abandoned pets, which he refers to as 'kids.'"There were some frustrations in the past ten years that made me wonder why I was doing such things. But if humans have trouble making a living, the society will take care of them, and provide them social aid. If these kids are in trouble and no one is taking care of them, they will die." All of his family and neighbors fled after an earthquake, tsunami and subsequent nuclear plant meltdown 10 years ago.But Kato vowed to stay on in a near-empty township and began taking care of stray pets.Kato and his 41 stray cats now live in a dilapidated house.Water is collected from a nearby mountain spring and Kato uses public toilets outside the restricted area."It's getting harder to take care of the animals so I think it will be even much harder in 10 years' time. I want to be around when the last cat dies, then I want to die after that, no matter if it takes a day or an hour, I want to take care of the last cat here before I die. Otherwise it would be cruel to leave it alone. I will not breed any more cats but it's also sad to see them go."Kato isn't technically allowed to sleep at his house and is officially a resident of Fukushima city which is a two-hour drive away.He says his family is opposed to his charitable, but costly, project.Taking care of the animals eats up around $7,000 a month for food, fuel and veterinary expenses.Kato estimates he has spent at least $750,000 over the past 10 years looking after the pets.But his kindness has not always received a warm welcome from onlookers.In February, Kato was arrested on suspicion of freeing wild boar caught in traps set up by Japan's government."People don't like wild boars and they say they're vermin. But the boars have come here in front of the garage since they were babies. They're getting bigger and bigger and now they also bring their children here with them, so to me they're like my children."Despite these obstacles, Kato insists he has permission to stay in the area and won't be deterred from what he sees as his life's purpose.