Tullow Oil to sell West African assets to Panoro for $180m

first_imgPanoro will acquire 14.25% stake in Block G offshore Equatorial Guinea, and an additional 10% stake in an offshore Gabon asset Panoro Energy currently has a stake of 7.5% in the Dussafu asset. (Credit: Panoro Energy) Tullow Oil has agreed to sell its oil producing assets offshore Equatorial Guinea and the Dussafu asset in Gabonese waters to Panoro Energy for a total of up to $180m.In this connection, the parties have signed two separate sale and purchase agreements.Panoro Energy will acquire a stake of 14.25% in Block G in the territorial waters of Equatorial Guinea.The Equatorial Guinea asset is made up of six producing oil fields in water depths of 50-850m, located nearly 35km from shore. Production from Block G began in 2000 through the Ceiba field.Currently, the net production from Block G is around 4,500 barrels of oil per day (bopd), with a potential to increase to nearly 8,000bopd net in 2023-25.Trident Energy is the operator of Block G with a stake of 40.37%, while Kosmos Energy (40.37%) and GEPetrol (5%) are the other partners.As per the second deal, Panoro Energy will acquire an additional stake of 10% in Dussafu Marin Permit, offshore Gabon. Through its subsidiary Pan Petroleum Gabon, Panoro Energy currently has a stake of 7.5% in the Dussafu asset.The Dussafu asset is currently producing around 15,000bopd gross from the Tortue field. It is expected to ramp up to about 20,000bopd this year by adding two more wells at Tortue.Furthermore, the Hibiscus/Ruche development in the asset is estimated to increase the production to nearly 40,000bopd in 2023. Further growth potential is anticipated through the Hibiscus/Ruche phase 2 project.The Dussafu permit also contains the Ruche North East, Moubenga, and Walt Whitman discoveries.The other partners of the Dussafu permit are operator BW Energy Gabon (73.5%) and Gabon Oil (9%).Tullow Oil CEO Rahul Dhir said: “These are important, value accretive deals for Tullow that will have a positive effect on our financial position as we look to further reduce our net debt and continue constructive discussions with our creditors. These transactions are also in line with our strategy of investing our capital on cash-generative, high return investment opportunities in our core portfolio.”The consideration for the Equatorial Guinea assets is $105m, for the Dussafu asset is $70m, and an additional $5m to be paid after the closing of the two deals.For the Equatorial Guinea assets, the Norway-based Panoro Energy will pay upfront $89m in cash and conditional cash payments of up to $16m based on asset performance and oil price.The second transaction will see the Norwegian oil and gas firm pay $46m upfront in cash and contingent payments of up to $24m depending upon asset performance and oil price.Panoro Energy CEO John Hamilton said: “These truly transformational Acquisitions will establish Panoro as one of the world’s leading independent E&P companies focussed on Africa. We are purchasing high-quality, low operating cost assets, substantial production and material reserves in West Africa.“These are highly accretive assets that deliver a major change in our operational and financial profile, and position the Company well to generate sustainable long-term value for our shareholders.”The deals are expected to be closed in the first half of this year, subject to receipt of the required approvals and meeting of customary conditions.last_img read more

Ocean City Field Hockey Wins South Jersey Group Three Title; Defeats Clearview 3-1

first_imgMolly Reardon scoring a goal. By Lesley GrahamOcean City got it’s redemption Thursday afternoon. The Red Raiders avenged last year’s loss to Clearview, winning 3-1, taking home the South Jersey Group Three Title.“We used last year’s feelings to fuel this year’s game. It’s exciting seeing all of the hardwork the kids have put in come to fruition,” exclaimed Head Coach Kelsey Mitchell.Maddie Kahn makes a big save.Ocean City saw evenly dispersed scoring with Sophia Gresham, Tara McNally and Molly Reardon each telling a goal for the Red and White. Reese Bloomstead, Chloe Prettyman and Jaclyn Charbonneau all contributed an assist on the day.  Maddie Kahn had eight saves in the game.  Grace Trovato scored the lone goal for Clearview.It was a 1-0 game early, with Ocean City opening up the scoring within the first five minutes. Both teams then settled into a rhythm with the remaining 25 minutes in the half going scoreless.Meredith Moon plays defense.After the halftime, Ocean City once again scored quickly on a corner. Tara McNally navigated the ball through traffic to find the back of the cage on an assist from Chloe Prettyman.The passing through the midfield was crisp and clean allowing for Ocean City to get great looks on cage with Molly Reardon getting a ball from Jaclyn Charbonneau to make it 3-0.Reese Bloomstead plays the ball through traffic.The Red Raiders played a bit more defense than it’s been used to giving up five defensive corners to Clearview, which they converted into a goal with 12 minutes remaining in the half. Thanks to great heads up defense from Meredith Moon and the rest of the squad, Ocean City was able to keep Clearview off the scoreboard for the remainder of the game.The win moves Ocean City one step closer to the State Title, which they last won in 2016. The Red Raiders are now 19-3-1 on the season and looking for more. Ocean City will now play on Tuesday evening, opponent and site to be determined.OC celebrates the title.last_img read more

How work and home environments shape health

first_imgCassandra Okechukwu, associate professor of social and behavioral sciences, studies how different environments—such as our homes and our workplaces—shape our health. She sat down with Christiana von Hippel S.D. ’19 to talk about her life and work.How did you first become interested in academic public health?I always knew I would become a professor—it is the family business! Nigerians, especially my tribe, the Igbos, have high regard for professors, and many family members are professors. After immigrating to the U.S. in 1993, I learned quickly that a successful academic career required not just intelligence but adequate funding, so I pursued an undergraduate degree in nursing because of the high hourly wage and flexible schedule. Nursing is a common occupational entry point for African immigrants in the D.C./Maryland area where I grew up.My first exposure to public health was through occupational and environmental health courses that I took at Johns Hopkins. I became interested in the health effects of work environments on workers. As my own career trajectory was shaped by occupational segregation, noting these forces and their effects on workers’ opportunities for optimal health has continued to be a theme in my research. I loved the focus on creating social change in my occupational health courses so much that I ditched my original plan of pursuing a Ph.D. in nursing after my M.S.N./M.P.H. degree. Instead, I took a job as a project coordinator at the University of Maryland’s Center for Environmental and Occupational Health Justice. Working alongside nurses with doctoral degrees in public health inspired me to follow the same path. Read Full Storylast_img read more

Shakespeare in the Park’s Much Ado About Nothing Opens

first_img Happy opening to the cast of Much Ado! Show Closed This production ended its run on July 6, 2014 The Public Theater’s Shakespeare in the Park production of Much Ado About Nothing celebrates its opening night on June 16 at Central Park’s Delacorte Theater. The free production, directed by Jack O’Brien, brings the Bard’s comedy to sunny Sicily at the turn of the 20th century. The play stars Lily Rabe, Hamish Linklater, Tony winner Brian Stokes Mitchell and Steel Burkhardt. Lily Rabe Related Shows View Comments To celebrate the season launch of the New York summer tradition, Broadway.com resident artist Justin “Squigs” Robertson penned this portrait of Shakespeare’s princes, lovers and more. The sketch features Rabe as Beatrice and Linklater as Benedick, as well as Ismenia Mendes as Hero, Jack Cutmore-Scott as Claudio, John Glover as Leonato, Mitchell as Don Pedro and Pedro Pascal as Don John. About the Artist: With a desire to celebrate the magic of live theater and those who create it, and with a deep reverence for such touchstones as the work of Al Hirschfeld and the wall at Sardi’s, Squigs is happy and grateful to be among those carrying on the traditions where theater and caricature meet. He was born and raised in Oregon, lived in Los Angeles for quite a long time and now calls New York City his home. Hamish Linklater Much Ado About Nothing Star Fileslast_img read more

Nine work habits to avoid

first_imgAre you guilty of these?“Achieving success requires more than just doing the right thing,” says Geoffrey James, contributing editor and award-winning blogger at Inc.com and author of Business Without the Bullsh*t: 49 Secrets and Shortcuts You Need to Know. “Success also means changing the behaviors that hold you back.”Here are nine habits you can do without:1. Doing the bare minimum. If you accept a task, you owe it to yourself and to others to make your best effort. If you don’t want to do something, have the courage to refuse the task. Doing a half decent job is just being passive-aggressive.2. Telling half-truths. Honesty is the best policy. However, if you’re afraid to speak the truth, it’s cowardice to tell a half-truth that’s intended to mislead but leaves you “plausible deniability.” Either tell the whole truth or tell a real lie—and accept the consequences if you’re found out. continue reading » 15SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Advocacy training for credit union employees is essential

first_imgWhen the people of the credit union movement stand together, we are most effective. Issues concerning us, our choice to be members of the nation’s credit unions and the unique structure of our chosen financial institutions are a rallying point for a grassroots effort that has historically been one of the most impactful groups in our country.When our people stand together, we lead with a loud voice, and we can change the world. Rallying those voices within the credit union movement is one of the most powerful tools in our arsenal. But exactly how does that happen? It is relatively simple and well worth the effort.Credit unions employees, and their members share a common bond. We call it ownership. When people are educated regarding the credit union difference, they understand that they own something. Ownership fosters a strong desire to protect and preserve. From there, it is a natural progression to engage in grassroots advocacy. The league’s efforts to train and engage advocates can pay off because when we have an issue to support or fight against, their passion drives action.Advocates can and should be everyone in a credit union, from young professionals, to front-facing employees, all the way up to the board, and executive leadership. No one group of employees can drive engagement – again, it’s an ownership question. When we train advocates at our credit unions, we want to focus on the entire employee base, because their passion will mobilize them.So how do leagues train grassroots advocates? It starts with understanding what it truly means. Making a heart connection helps illustrate the very definition of the words grassroots advocate. Simple questions about their children and families are very effective. When employees think about the people they care most about – their families – their inner advocate rises up. People would do just about anything to ensure and protect their children’s safety, education, activities and so on – it’s a similar picture to paint for advocacy. Ownership. When someone understands they have ownership, they tend to invest in something one hundred times over.In training advocates, once they grasp the ownership piece, the rest can fall in place fairly easy. Defining the process of what an advocacy program is, and the very definition of power to display the size of our movement, helps paint the picture of how we as owners have the right to speak out, stand up and defend our movement. It’s very empowering.Grassroots advocacy programs and engaged credit union employees and members are our most effective means to educate, communicate & mobilize our power to shape public policy. With a proactive and aggressive grassroots advocacy program, we will be more effective in the legislative & political arena. Effective programs illustrate membership by congressional district and use data to help impact legislative relationships.To be most effective, any grassroots program needs buy in from the top. Management at the credit union needs to take ownership and have a belief in the credit union movement. This allows key personnel to be point persons within credit unions and help communicate action items, relay information and help mobilize when needed. Our people are our power. Training and engaging them is critical to the success and growth of our movement.The Mountain West Credit Union Association is a proud partner of the AACUL League System engaging best practices and collaboration between state and regional credit union leagues and associations. 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Scott Earl Scott Earl serves as the president and chief executive officer of the Mountain West Credit Union Association. This association is a combined entity comprising the Arizona Credit Union League, the … Web: www.mwcua.com Detailslast_img read more

Adapting your payments to today’s consumer behavior

first_imgIn this episode, we’re talking about how to align your payments strategies with shifting consumer behavior. This process is more complex now than ever before, as credit unions face a slew of pandemic-related revenue disruptions. Gain insights on recent data, shifts in the payments landscape, and how to address upcoming deadlines in critical vendor contracts.Key Takeaways:[02:41] 51% of consumers are now using contactless.  Credit unions need to make sure contactless is no longer a luxury item that is not going to be used. [06:43] Education is going to have a big role moving forward especially with senior members. What mobile offering are you going to have for them and how are you going to educate them on the offerings?[12:21] The chances of fraud are higher because a signature or pin is not required, so look at the contactless transfer limit you have on cards and provisional limit. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr This is placeholder text continue reading »center_img This post is currently collecting data…last_img read more

The World Olive Picking Championship on the island of Brač won the award for creative event of the year

first_imgPhoto: Postira Tourist Board Creative Tourism Network is an international non-profit organization that specializes in the development of creative tourism, and their expert jury decided among 160 applications and events that the World Olive Picking Championship is the most creative and the first event of its kind in the world. tradition of the area and brings it closer to the local population and many tourists. As part of the FITUR fair in Madrid, which lasts from January 22 to 26, the eternal award ceremony of the Creative Tourism Network was held. This year, the 4th World Olive Picking Championships will be held from 8 to 11 October 2020 in Postira, and applications for teams are open HERE. The news of the day from Madrid is certainly how the award for the creative event of the year went to Croatia, which was won by the World Olive Picking Championship in the municipality of Postira on the island of Brač, which took place in October last year. Cover photo: Postira Tourist Board So far, teams from Poland, Slovakia, Bosnia and Herzegovina, Hungary, France, England, Northern Macedonia, Germany and South Africa have applied.last_img read more

Tallebudgera Valley “piece of paradise” hits the market

first_imgThere’s no shortageof space in this Tallebudgera Valley house.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North5 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day agoThe single-level house features an open-plan design with the interior living areas flowing out to the alfresco pavilion overlooking the pool. The property features 100m of creek frontage and plenty of visiting wildlife. “We’ve got seven grandkids and when the come over they love playing on the gokarts or pushbikes up the driveway or swimming and fishing in the creek. 761 Tallebudgera Creek Rd, Tallebudgera Valley is going to auction on August 9.IT’S peaceful, luxurious and there’s plenty of space.Welcome to Billeroy — a sprawling acreage retreat nestled in the beautiful Tallebudgera Valley. Maree and Ted Bagnall swapped their beachfront home in Wonbarra, a seaside suburb of Wollongong, for a 3.64ha “piece of paradise” in 2002. Cook up a feast here. ON THE MARKET: 761 TALLEBUDGERA RD, TALLEBUDGERA VALLEY Agent: Katrina Walsh, Harcourts CoastalFeatures: Pool, media room, fenced paddocks, separate self-contained accommodation, two sheds, water tanksArea: 3.64haAuction: August 9, 11am, Harcourts in-rooms, 16 Queensland Ave, BroadbeachInspections: Saturday and Sunday, 12.30 to 1pm Relax in the pool.“It’s a lovely environment for kids. “We also have a family of kangaroos that have been with us as long as we’ve been here and well over 150 birds,” she said.And Mrs Bagnall said the starry nights were a standout feature. “Sitting by the firepit and looking up at the stars, there’s no stree lights so the view is just unbelievable,” she said. “It really is so beautiful.” Welcome home — 761 Tallebudgera Creek Rd, Tallebudgera Valley.“When we retired this was our project and so we put our heart and soul into it,” Mrs Bagnall said. “It was the best change and we have thoroughly loved living here.”The pair had the home designed so there was a view from every room of the five-bedroom house. “Each room you look out and see a paddock or a nice private garden,” she said. “You feel very connected to the whole property.”last_img read more

Construction Begins on K Line’s LNG-Powered Car Carrier

first_imgJapanese shipbuilder Imabari Shipbuilding has started construction works on an LNG-powered car carrier for compatriot shipping company Kawasaki Kisen Kaisha, Ltd. (K Line).The works started after K Line placed an order for the ship in December 2018.Imabari is scheduled to deliver the 199.9-meter newbuild in the fall of 2020.According to K Line, the yet-to-be-named 73,800 ton ship will have a capacity to carry 2,020 vehicles and will sail under the flag of Japan.K Line said the decision to build a LNG-fueled car carrier was part of the company’s long-term environmental management vision called the “K” LINE Environmental Vision 2050 “Securing the Blue Seas for Tomorrow.”The company started introducing environmentally-friendly vessel into its fleet with the 2016 launch of Drive Green Highway, a car carrier equipped with energy-saving technologies and SOx scrubbers.last_img read more