Daily Archives: May 17, 2018

Skybox Security and Exclusive Networks Announce New Partnership for Middle East Distribution of the Skybox Security Suite

The cybersecurity management platform ensures networks remain secure and compliant as organisations migrate to cloud and merge networks

SAN JOSE, Calif., May 17, 2018 (GLOBE NEWSWIRE) — Skybox™ Security, a global leader in cybersecurity management, announced today a new partnership with Exclusive Networks for distribution of Skybox solutions in the Middle East, including the Gulf Cooperation Council (GCC) region and Egypt. Exclusive Networks will deploy and service the Skybox™ Security Suite, a broad security management platform that provides comprehensive attack surface visibility and enables unified vulnerability management and firewall/security policy management across an organization’s entire network, including in physical, multi-cloud and OT environments.

“Driven by government outlays (with oil, gas and defence industries leading the charge), Middle East organisations are looking for trusted security advisors who can navigate digital transformations and reduce risks — especially as they deal with migration to the cloud, IT/OT convergence and a skills shortage. Skybox gives our business partners the tools needed to address these challenges — things like visibility, automation and advanced analytics,” said Oliver Downs, alliances manager for Exclusive Networks. “With Skybox, our partners have the power to more effectively manage security holistically within large, complex networks, including in physical, virtual, multi–cloud, and even OT environments.”

Exclusive Networks has been certified by Skybox for its expertise and ability to deliver the Skybox Security Suite, including any customization that is needed for specific security and business processes. In addition, they provide ongoing platform management, which includes but is not limited to:

  • Continuous management of network and asset data imported into the Skybox network model
  • Delivery of Skybox™ Health Check services which includes checking platform performance, performing data import and model validation, and performing operational checks
  • Optimizing technology integrations with the Skybox platform (120+ now available) to improve ROI

Exclusive Networks is a leading value-added distributor (VAD) in the Middle East focused on IT security and data center transformation. They leverage a portfolio of vendors to assist in enabling hybrid cloud architecture and security, which is key to digital transformation and competitive success in the region. This includes integration with on-site/off-site configuration management databases (CMDBs) and ticketing systems for highly customizable reporting. By leveraging data from the Skybox Security Suite, Exclusive Networks can continuously monitor and quickly report on an organization’s overall security posture at all stages of a process.

“An internationally renowned distributor, Exclusive Networks is able to fully develop and drive the Middle East channel for Skybox by providing a regional foothold and an understanding of both the commercial and technology sectors,” said Jono Clarke-Storey, EMEA channel director for Skybox Security. “Their experience in developing and scaling partnerships will allow us to provide compelling solutions for unique business challenges facing Middle Eastern companies.”

About Skybox Security
www.skyboxsecurity.com
Skybox provides the industry’s broadest cybersecurity management platform to address security challenges within large, complex networks. By integrating with over 120 networking and security technologies, the Skybox™ Security Suite gives comprehensive attack surface visibility and the context needed to quickly identify and fix vulnerabilities and security weaknesses. Our analytics, automation and intelligence improve the efficiency and performance of security operations in vulnerability and threat management and firewall and security policy management for the world’s largest organisations.

About Exclusive Networks
www.exclusive-networks.com

Exclusive Networks accelerates market entry and growth for innovative cybersecurity, networking and infrastructure technologies. This makes us the go-to choice for market-leading technologies and reseller partners. Our business model of a single touch/multiple markets VAD is unique — we combine specialist value-adding technical and marketing support, with the volume and reach of a global distributor. Reseller partners around the world rely on us to boost their business opportunities and achieve new revenues from the changing technology landscape. Exclusive Networks continually challenges traditional VAD models, redefining value and creating differentiation. We call this ‘disruptive distribution.’

© 2018 Skybox Security, Inc. All rights reserved. Skybox Security and the Skybox Security logo are either registered trademarks or trademarks of Skybox Security, Inc., in the United States and/or other countries. All other trademarks are the property of their respective owners. Product specifications subject to change at any time without prior notice.

CONTACT INFORMATION

Skybox Security
Tawnya Lancaster
Director of Global Communications
408.205.1618 | Tawnya.lancaster@skyboxsecurity.com

Colliers International Issues €210 Million of Senior Notes

Already-strong balance sheet further reinforced by long-term, attractively priced Euro-denominated 2.23% senior unsecured notes due 2028

TORONTO, May 17, 2018 (GLOBE NEWSWIRE) — Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI) (“Colliers“) announced today that it has reinforced its already-strong balance sheet with the issuance of €210 million of senior unsecured notes, with a ten-year term and a fixed interest rate of 2.23%. The senior notes were placed privately and rank equally with Colliers’ senior unsecured revolving credit facility. The proceeds of the issuance will be drawn on May 30, 2018. Colliers intends to use the proceeds for general corporate purposes and to reduce outstanding borrowings under its revolving credit facility.

“This Euro-denominated debt issuance aligns extremely well with the significant investments we have made in our European operations over the past few years, providing us with a natural hedge on foreign exchange risk,” said Christian Mayer, Vice President, Finance & Treasurer.

“This issuance extends our debt maturities, increases our fixed-rate debt profile to mitigate the impact of future increases in interest rates and secures attractively priced debt capital from high quality institutions for the long term,” said John B. Friedrichsen, Chief Financial Officer. “We look forward to a long and mutually rewarding relationship with our note-holders as we continue to execute our disciplined growth strategy in the years to come,” he concluded.

The notes offered in the private placement have not been registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction. The notes may not be offered or sold in the United States absent registration with the US Securities and Exchange Commission or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy the notes described in this press release, nor shall there be any sale of notes in any jurisdiction in which such an offer, sale or solicitation would be unlawful prior to registration under the securities laws of such jurisdiction.

About Colliers International Group Inc.

Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI) is an industry-leading real estate services company with a global brand operating in 69 countries and a workforce of more than 12,000 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers has also been ranked the number one property manager in the world by Commercial Property Executive for two years in a row.

For the latest news from Colliers, visit Colliers.com or follow us on Twitter: @Colliers and LinkedIn.

Forward-Looking Statements
Certain information included in this news release is forward-looking, within the meaning of applicable securities laws. Much of this information can be identified by words such as “believe”, “expects”, “expected”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “continues” or similar expressions suggesting future outcomes or events. Colliers believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.

Forward-looking statements are based on current information and expectations that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those anticipated. These risks include, but are not limited to, risks associated with: (i) general economic and business conditions, which will, among other things, impact demand for Colliers’ services and the cost of providing services; (ii) the ability of Colliers to implement its business strategy, including Colliers’ ability to identify and acquire suitable acquisition candidates on acceptable terms and successfully integrate newly acquired businesses with its existing businesses; (iii) changes in or the failure to comply with government regulations; and (iv) such factors as are identified in the Annual Information Form of Colliers for the year ended December 31, 2017 under the heading “Risk Factors” (which factors are adopted herein and a copy of which can be obtained at www.sedar.com). Forward looking statements contained in this news release are made as of the date hereof and are subject to change. All forward-looking statements in this news release are qualified by these cautionary statements. Except as required by applicable law, Colliers undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

COLLIERS CONTACT:

John B. Friedrichsen
Chief Financial Officer
(416) 960-9500

Dermatological Symposium Tackles the Effects of Pollution on Skin

Researchers Present Compelling Evidence Showing the Effects of Pollution on Skin Health at Symposium Sponsored by Mary Kay Inc.

DALLAS, May 17, 2018 (GLOBE NEWSWIRE) — Mary Kay Inc. announced four keynote speakers for its symposium to be held during the prestigious International Investigative Dermatology (IID) Meeting on May 16 to 19, 2018 in Orlando, Florida. The IID meeting occurs once every 5 years, and brings together scientists from across the globe, highlighting the latest in cutting edge science in dermatology.

The Mary Kay sponsored Symposium features four global experts including Dr. Liang Liu, Assistant Professor of Dermatology, Columbia University; Dr. Max Costa, Professor and Chairman of the department of Environmental Medicine, New York University School of Medicine; Dr. Jean Krutmann, Chair of Environmental Medicine at the Medical Faculty of Heinrich Heine University Düsseldorf and Director of the Leibniz Research Institute of Environmental Medicine in Dusseldorf, Germany; and Dr. Wendy Roberts, Associate at Stanford University and founding Director of Dermatopathology, Loma Linda University Medical Center in California.

The presenter scholars are prominent leaders in the fields of environmental dermatology, generational and ethnic dermatology, as well as epidemiologic dermatology, among others. The common denominator to be discussed in the Symposium is the impact of external environmental agents on the skin, and how antioxidants can help reduce the damaging effects of pollution.

As a leading skincare innovator in the industry, Mary Kay’s team of scientists and researchers lead by Dr. Lucy Gildea, the company’s Chief Scientific Officer, is an integral part of the scientific community that the International Investigative Dermatology meeting gathers. Mary Kay’s R&D team will present a research poster demonstrating that a specific antioxidant complex reduces the damaging effects of diesel exhaust particles (DEP) on human skin cells. This breakthrough antioxidant mixture is the key technology in the newest TimeWise® Miracle Set 3D skincare line of Mary Kay.

Dr. Liu has been collaborating with Mary Kay to determine the impact of antioxidants in combating the effects of polyaromatic hydrocarbon (PAH) pollution. “I’m so pleased that Mary Kay is funding this important research, said Liu. It will go a long way toward understanding how pollution affects skin health, and will help guide the development of mechanism-based next-generation skin care products to prevent and treat pollution-induced skin damage”.

Mary Kay continues its commitment to the advancement of cutting-edge skin science research by sponsoring the IID symposium on “Pollution and Skin Health: New Perspectives and Intervention Strategies.” The symposium is just the latest in a series of partnerships with the scientific and academic communities committing funding to skin health research and development, and supporting Mary Kay’s status as one of the world’s leading cosmetics and skin care industry innovators. Every year, Mary Kay conducts hundreds of thousands of scientific tests on products and ingredients to ensure the highest standards of safety, quality and performance. Mary Kay holds more than 1,400 patents for products, technologies and packaging designs in its global portfolio.

About Mary Kay

At Mary Kay, success lies in our dedication to irresistible products, a rewarding opportunity and positive community impact.  For more than 54 years, Mary Kay has inspired women to achieve their entrepreneurial goals in nearly 40 countries.  As a multibillion-dollar company, we offer the latest in cutting-edge skin care, bold color cosmetics and fragrances. Discover more reasons to love Mary Kay at marykay.com

About the IID Meeting

The IID meeting is organized jointly every five years by the world’s pre-eminent skin health research organizations from Europe (European Society for Dermatological Research), Asia (The Japanese Society for Investigative Dermatology) and North America (Society of Investigative Dermatology) to bring together the world’s finest physicians, scientists and researchers in the fields of cutaneous biology, dermatology and related disciplines.

Mary Kay Global Corporate Communications
Mary Kay Inc.
972-687-5332
media@mkcorp.com

Sundance Energy Australia Limited Reports First Quarter 2018 Financial and Operational Results

DENVER, May 16, 2018 (GLOBE NEWSWIRE) — Sundance Energy Australia Limited (ASX:SEA) (NASDAQ:SNDE) (“Sundance” or the “Company”), a U.S. onshore oil and gas exploration and production company focused in the Eagle Ford in South Texas, reported its first quarter 2018 financial and operations results.

First Quarter 2018 Financial Results

  • Adjusted EBITDAX of $12.3 million, or 51.3 percent Adjusted EBITDAX Margin. This figure excludes the one time impact of $1.0 million of non-recurring deal costs related to the Pioneer transaction which were expensed during the quarter.
  • Total revenue increased 3.5% to $24.0 million as compared to the same prior year period
  • Average first quarter price realized excluding the impact of hedging and fixed price physical delivery contracts was $64.80 per barrel and $46.54 per Boe. Average first quarter price received per barrel was $55.15 and per Boe was $40.59.
  • Cash operating costs increased 38.4% to $20.61/Boe for the quarter, as compared to $14.89/Boe for the same prior year period. The increase was driven by higher Lease Operating Expenses of $11.25/boe primarily due to workover expenses and conversion of wells from rod to gas lift.
  • As of May 14, 2018, the Company’s oil hedges covered a total of 3.9 million bbls through 2023 with a weighted average floor of $50.34 and ceiling of $57.61.  Hedging covered approximately 54% of 2018 and ~17% of 2019 forecast production.

Operational Highlights

  • First quarter net production increased 5% to 630,183 Boe, or 7,002 Boe/day as compared to the same period in the prior year and decreased 18% as compared to the fourth quarter of 2017.
  • The Company did not bring any new wells into production during the quarter, but it drilled two gross (1.9 net) wells. The Paloma Ranch 7H and Peeler Ranch EFS 9HC had lateral lengths of 7,799 feet and 6,025 feet, respectively. In addition, as of quarter end the Company was in the process of drilling a third (1.0 net) well at quarter‐end, the Peeler Ranch 8HC with a lateral length of 5,778 ft. Drilling was completed on 12 April 2018.
  • First quarter development and production related expenditures totaled $8.3 million.

Pioneer Natural Resources Joint Venture Acquisition and Guidance

  • During the quarter, the Company announced it had entered into a Purchase and Sale Agreement to acquire approximately 21,900 net acres and 1,700 Boe/d of production in the Eagle Ford from a joint venture operated by Pioneer Natural Resources, USA, Inc. for cash consideration of US$221.5 million, subject to post‐closing adjustments.  Subsequent to the end of the quarter, this acquisition successfully closed as outlined in the Company’s 26 April, 2018 release.
  • To fund the acquisition, the Company raised US$260.0 million of new equity. In addition, the Company refinanced its existing credit facility contemporaneous with the acquisition closing.
  • Inclusive of the acquisition, the Company anticipates average production for the first half of 2018 to be 7,000-7,500 boe/d with significant development activities in the second half of the year increasing full year 2018 production to 9,000-10,000 boe/d.
  • The Company’s two rig development plan calls for the drilling of 30 – 40 new wells per twelve month period. The Company anticipates Capital Expenditures of $175 – 190 million in 2018 and $200 – 220 million in 2019.  The Company began drilling the H Harlan Bethune 25H, 26H and 27H subsequent to quarter end and anticipates mobilizing a second rig late in the second quarter to the acquired assets.
  • The Company anticipates Lease Operating Expenses to increase slightly in the second quarter due to the assumption of Pioneer’s existing midstream contracts for acquired existing production, before decreasing as additional production come online at more market rates.
  • The Company has issued EBITDAX guidance of $100 – 110 million and $250 – 275 million for full years 2018 and 2019 respectively.

The following tables present certain production, per unit metrics and Adjusted EBITDAX that compare results of the corresponding quarterly reporting periods:

Three Months Ended March 31,    
Unaudited 2018   2017   % Change
Net Sales Volumes
Oil (Bbls)   365,241   398,634 -8 %
Natural gas (Mcf)   884,423   770,845 15 %
NGL (Bbls)   79,513   68,046 17 %
Total Boe   592,158   595,154 -0.5 %
Average Daily Volumes
Average daily production (Boe), including flared gas (1)   7,002   6,685 5 %
Product Price Received
Total price received (per Boe) $   40.59 $   39.04 4 %
Total realized price (per Boe)(2) $   37.92 $   38.11 -0.5 %
(1)  Includes flared gas of 228,150 Mcf and 38,862 Mcf for the three months ended March 31, 2018 and 2017, respectively.
(2) Includes realized losses on commodity derivatives of $1.6 million and $0.6 million for the three months ended March 31, 2018 and 2017, respectively.
UNIT COST ANALYSIS Three Months Ended March 31,    
Unaudited 2018   2017   % Change
Revenue/Boe $   40.59 $   39.04 4 %
Lease operating expenses/Boe   (11.25 )   (7.12 ) 58 %
Production taxes/Boe   (3.13 )   (2.36 ) 33 %
Cash G&A/Boe(1)   (6.23 )   (5.41 ) 15 %
Net per Boe   19.98   24.15 -17 %
Adjusted EBITDAX(2)   12,342   13,828 -11 %
Adjusted EBITDAX Margin (3) 51.3 % 59.5 % -14 %
(1)  Cash G&A represents general and administrative expenses incurred less equity-settled share based compensation expense, which totaled $0.4 million and $0.6 million for the three months ended March 31, 2018 and 2017, respectively.
(2) See reconciliation of income (loss) attributable to owners of the Company to Adjusted EBITDAX included at end of release.
(3) Adjusted EBITDAX Margin represents Adjusted EBITDAX as a percentage of revenue during the period.

Condensed Consolidated Financial Statements

The Company’s condensed consolidated financial statements are included below.

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
Three Months Ended March 31,
Unaudited (US$000s) 2018   2017  
Revenue $   24,036 $   23,233
Lease operating and production tax expense   (8,515 )   (5,641 )
Depreciation and amortisation expense   (12,187 )   (14,159 )
General and administrative expenses   (4,057 )   (3,771 )
(Loss) Gain on commodity hedging, net   (6,684 )   6,580
Finance costs, net of amounts capitalized   (3,982 )   (3,107 )
Impairment expense (1)   (2,957 )   –
Other items of income, net   1,066   7
 
Income before income tax    (13,280 )   3,142
 
Income tax expense   (2,303 )   (651 )
 
Income (loss) attributable to owners of the Company $    (15,583 ) $    2,491
(1) 2018 impairment expense relates to further impairment on the Company’s non-core Dimmit County and PEL570 assets of $2.3 million and $0.7 million, respectively.
CONDENSED CONSOLIDATED BALANCE SHEETS
       
(US$000s) March 31, 2018   December 31, 2017
  (Unaudited)   (Audited)
Cash $   1,066 $   5,761
Trade and other receivables   3,599   4,006
Other current assets(1)   52,003   3,855
Assets held for sale(2)   59,824   61,064
Total current assets   116,492   74,686
Oil and gas properties   370,361   375,021
Other assets   5,968   4,911
Total assets $   492,821 $   454,618
Current liabilities $   76,680 $   73,072
Liabilities related to assets held for sale(2)   979   1,064
Total current liabilities   77,659   74,136
Total current liabilities
Credit facilities, net of financing fees   189,520   189,310
Other non current liabilities   15,575   13,821
Total liabilities $   282,754 $   277,267
Net Assets $   210,067 $   177,351
Equity $   210,067 $   177,351
(1) Includes $48.0 million nonrefundable deposit made in connection with the Company’s Eagle Ford  acquisition, which closed on April 23, 2018.
(2) The Company’s Dimmit County Eagle Ford assets (and related liabilities) were classified as held for sale as of March 31, 2018 and December 31, 2017.
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
 
Three Months Ended March 31,
Unaudited (US$000s) 2018   2017
Operating
Receipts from sales $   25,896 $   25,525
Payments for operating and administrative expenses   (9,026 )   (9,503 )
Payments for commodity derivative settlements   (1,613 )   (839 )
Other, net (1)   (2,324 )   3,850
Net cash provided by operating activities    12,933   19,033
Investing
Payments for development expenditures   (7,058 )   (16,073 )
Payments for exploration expenditures   (1,359 )   (1,409 )
Deposit for Eagle Ford acquisition   (48,000 )   –
Other   (62 )   (100 )
Net cash used in investing activities   (56,479 )   (17,582 )
Financing
Proceeds from the issuance of shares (2)   47,585   –
Proceeds from foreign currency derivatives   991   –
Interest paid, net of capitalized portion   (3,648 )   (5,595 )
Repayments of borrowings (3)   (6,415 )   (949 )
Net cash provided by (used in) financing activities   38,513   (6,544 )
Cash beginning of quarter   5,761   17,463
FX effect   338   10
Cash at end of quarter $   1,066 $   12,380
(1)  Includes $2.3 million of federal income tax payments and $3.9 million of federal income tax refunds (net) for the quarters ended March 31, 2018 and 2017, respectively.
(2)  Transaction costs related to the issuance of shares were settled in the second quarter of 2018 with the completion of the Conditional Placement portion of the capital raise.
(3)  2018 repayments of borrowings related to the Company’s 2017 revenue advance from its oil purchaser.

Conference Call
The Company will host a conference call for investors on Wednesday, May 16, 2018, at 5 p.m. Mountain Time (Thursday, May 17, 2018 at 9 a.m. AEDT).

Interested investors can listen to the call via webcast at http://www.sundanceenergy.net/events.cfm. The webcast will also be available for replay on the Company’s website.

Additional Information

We define “Adjusted EBITDAX” as earnings before interest expense, income taxes, depreciation, depletion and amortization, property impairments, gain/(loss) on sale of non-current assets, exploration expense, share based compensation and income, gains and losses on commodity hedging, net of settlements of commodity hedging and items that the Company believes affect the comparability of operating results such as items whose timing and/or amount cannot be reasonably estimated or items that are non-recurring.

Below is a reconciliation from the net income (loss) attributable to owners of the Company to Adjusted EBITDAX:

IFRS Income (Loss) Attributable to Owners of Sundance Reconciliation to Adjusted EBITDAX
 Three Months Ended March 31,
Unaudited (US$000s)  2018  2017
Income (loss) attributable to owners of Sundance $   (15,583 ) $   2,491
Income tax expense   2,303   651
Finance costs, net of amounts capitalized   3,982   3,107
Loss (gain) on derivative financial instruments, net   6,684   (6,580 )
Settlement of commodity derivatives   (1,583 )   (552 )
Depreciation and amortization   12,187   14,159
Impairment expense   2,957   –
Noncash share-based compensation   369   552
Acquisition-related costs included in general and administrative expenses(1)   1,026   –
Adjusted EBITDAX $   12,342 $   13,828
(1) Professional fees included in general and administrative expense related to the Company’s Eagle Ford acquisition, which closed April 23, 2018.

The Company reports under International Financial Reporting Standards (IFRS).   All amounts are reported in US dollars unless otherwise noted.

The Company’s full Unaudited Activities Report as filed with the Australian Securities Exchange (ASX) and Securities and Exchange Commission on Form 6-K for the Quarter Ended March 31, 2018 can be found at www.sundanceenergy.net.

The Company’s 2017 Annual Report as filed with the ASX and Form 20-F as filed with the SEC can be found at www.sundanceenergy.net.

For more information, please contact:

United States
Eric McCrady, Managing Director
Tel: +1 (303) 543 5703
Australia
Mike Hannell, Chairman
Tel: +61 8 8363 0388

About Sundance Energy Australia Limited

Sundance Energy Australia Limited (“Sundance” or the “Company”) is an Australian-based, independent energy exploration company, with a wholly owned US subsidiary, Sundance Energy Inc., located in Denver, Colorado, USA. The Company is focused on the acquisition and development of large, repeatable oil and natural gas resource plays in North America. Current activities are focused in the Eagle Ford.  A comprehensive overview of the Company can be found on Sundance’s website at www.sundanceenergy.net

Summary Information

The following disclaimer applies to this document and any information contained in it. The information in this release is of general background and does not purport to be complete. It should be read in conjunction with Sundance’s periodic and continuous disclosure announcements lodged with ASX Limited that are available at www.asx.com.au and Sundance’s filings with the Securities and Exchange Commission available at www.sec.gov

Forward Looking Statements

This release may contain forward-looking statements. These statements relate to the Company’s expectations, beliefs, intentions or strategies regarding the future. These statements can be identified by the use of words like “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “plan”, “project”, “will”, “should”, “seek” and similar words or expressions containing same.

These forward-looking statements reflect the Company’s views and assumptions with respect to future events as of the date of this release and are subject to a variety of unpredictable risks, uncertainties, and other unknowns. Actual and future results and trends could differ materially from those set forth in such statements due to various factors, many of which are beyond our ability to control or predict. These include, but are not limited to, risks or uncertainties associated with the discovery and development of oil and natural gas reserves, cash flows and liquidity, business and financial strategy, budget, projections and operating results, oil and natural gas prices, amount, nature and timing of capital expenditures, including future development costs, availability and terms of capital and general economic and business conditions. Given these uncertainties, no one should place undue reliance on any forward looking statements attributable to Sundance, or any of its affiliates or persons acting on its behalf.  Although every effort has been made to ensure this release sets forth a fair and accurate view, we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Canada Joins the Global Equality Fund

The text of the following joint statement was issued by the Governments of the United States and Canada:

The United States and Canada recognize that protecting and respecting human rights is the responsibility of all governments, and that the human rights of lesbian, gay, bisexual, transgender, and intersex (LGBTI) persons are not different or separate from the human rights of anyone else. Defending the human rights of LGBTI persons is an important part of our foreign policies.

Consistent with its commitment to these values, Canada formally announced it would join the Global Equality Fund as a donor Partner, with its contribution designated specifically to provide emergency assistance to LGBTI persons under threat of violence. The Global Equality Fund, a public-private partnership administered by the United States, is built on its Partners’ shared commitment to advancing freedom, equality, and dignity for all.

Through the Global Equality Fund, like-minded governments, foundations, and corporations provide support to civil society organizations working to promote the inclusion of and respect for all persons, regardless of sexual orientation, gender identity or expression, or sex characteristics.

The United States and Canada will continue to work to ensure that all people � including LGBTI people � can live in dignity, freedom, and equality.

Global Equality Fund Partners include the Governments of Argentina, Australia, Canada, Chile, Croatia, Denmark, Finland, France, Germany, Iceland, Italy, Montenegro, the Netherlands, Norway, Sweden, the United States of America, and Uruguay, as well as the Arcus Foundation, the John D. Evans Foundation, FRI: the Norwegian LGBT Organization, the MAC AIDS Fund, Deloitte LLP, the Royal Bank of Canada, Hilton Worldwide, Bloomberg L.P., the Human Rights Campaign and Out Leadership.

Source: U.S. Department of State

Preparations Being Made For Celebration Of Announced City Status Of Pakse

Pakse authorities in southernmost province Champassak are expected to celebrate the announcement of Pakse district as a city on May 31.

Prime Minister Thongloun Sisoulith issued last month three decrees approving the upgrading of three districts to cities including Luang Prabang of Luang Prabang Province, Kaysone Phomvihane of Savannakhet Province and Pakse of Champassak Province.

To be classified as a city, a municipality must have a population of at least 60,000 and be financially self sufficient with regard to administration costs.

Preparations are currently being made for the celebration of the announcement of Pakse district as a city which will be held at KM 2 Stadium on May 31. Leaders of the district have listed a number of activities for the celebration including religious rituals on May 29 and alms giving on May 30, according to Chief of Pakse district Soulivanh Savatthasin.

Local authorities will conduct in the morning of May 31 a cleaning activity along the main roads of the district with national flags and buntings flown at offices and organizations. More than 20 car processions representing companies, hotels will march along the main roads of the district.

The celebration of Pakse district as a city will also feature cultural performances and Khaen music dance and lam siphandonesinging.

Phet (Phetdavone Khammanivong), the 21-time winner of Seuk Wun Duan Pleng, a televised singing contest of Thailand has been invited to entertain people joining the celebration.

Source: Lao News Agency

Qualification Reference Framework Report Writing

Over 20 government officials attended a workshop held on May 9-11 to learn how to write an ASEAN Qualification Reference Framework Report.

They represented line departments of the Ministry of Education and Sports, the Ministry of Planning and Investment, the National University of Laos, and the Lao-Korean Skills Development Institute.

Held in Vientiane Province, the 2nd ASEAN Qualification Reference Framework Committee Meeting was hosted by the Education Quality Assurance Centre of the Ministry of Education and Sports.

This meeting is very useful for Lao officials as it provides them the opportunity to learn how to write a draft ASEAN Framework Report, said Director of theEducation Quality Assurance Centre Mr Panya Chanthavong.

To ensure the ASEAN Economic Community integration particularly in education sector, and promote the exchange of technical officials and students, it is necessary to have a national education management system and national education quality assurance system established. These will be used as a mechanism to drive and acknowledge educational qualification frameworks of ASEAN member states, said Mr Panya.

The ASEAN Qualifications Reference Framework (AQRF) is a common reference framework that enables comparisons of education qualifications across participating ASEAN Member States (AMS).

The objectives of AQRF include:

– Support recognition of qualifications

– Encourage the development of qualifications frameworks that can facilitate lifelong learning

– Encourage the development of national approaches to validating learning gained outside formal education

– Promote and encourage education and learner mobility

– Support worker mobility

– Improve understanding of qualifications systems

– Promote higher quality qualifications systems

The AQRF developed is based on agreed understanding between ASEAN member states. By design, it aims to have a neutral influence on national qualifications frameworks (NQF) of participating countries.

ASEAN member states are invited to participate in AQRF on voluntary engagement and implementation.

More important, engagement in AQRF does not require changes to national qualifications systems. AQRF respects the specific structures and processes of participating member states to maintain their responsiveness to national priorities.

Source: Lao News Agency

Deputy Secretary Sullivan Travel to Argentina and Brazil

Deputy Secretary of State John J. Sullivan will travel to Buenos Aires, Argentina from May 20-21 to lead the U.S. delegation to the G-20 Foreign Ministers’ Meeting. The G-20 Foreign Ministers’ Meeting offers an opportunity for foreign ministers to exchange views and collaborate on global economic, political, and security issues of mutual concern, including sustainable development and the role of multilateralism. These conversations will set the stage for the G-20 Leaders’ Summit in Argentina in November. On the margins of the G-20 ministerial, Deputy Secretary Sullivan will meet with a number of foreign ministers for bilateral discussions.

Following the G-20, the Deputy Secretary will travel to Brasilia, Brazil to meet with leaders and launch the U.S.-Brazil Security Forum, a bilateral law enforcement cooperation initiative to address transnational crime and threat networks of mutual concern. He will also discuss our joint economic growth agenda and global issues, including Venezuela’s humanitarian crisis and regional support for the restoration of democracy in Venezuela.

While in Brazil, the Deputy Secretary will also engage with U.S. Embassy staff and members of Brazilian civil society.

Source: U.S. Department of State