Real Energy and Strata-X Energy to create Pure Energy. (Credit: Gerd Altmann/ Pixabay.) Australian east coast focused gas company Real Energy has agreed to merge with Strata-X Energy to create a new entity, named Pure Energy.Both the companies have signed a binding scheme implementation agreement (SIA) to pursue a nil premium merger.Real Energy said that the combination of the two companies will represent a compelling opportunity for creating a material gas business with significant holdings in Surat and Cooper Basins, Queensland.The merged entity is also expected to benefit from the broader asset portfolio in Australia and Botswana.Pure Energy will hold the full ownership of Project VenusAdditionally, the company will hold the full ownership of the Project Venus, which is located within the proven Walloon CSG fairway and immediately adjacent to gas pipeline infrastructure in the Surat Basin.The merged company is also expected to remove duplicate administrative functions and listing costs, which would deliver significant cost savings.Upon completion of the merge, Strata-X would change its name to Pure Energy and will delist its shares from the TSX Venture Exchange.The combined company would have a total of 11.8 TCF2 prospective gas resources, with 770 BCF of 3C and 353 BCF of 2C contingent gas resources.Through substituting methane with coal and diesel, Pure Energy is aiming to reduce the emissions and will also investigate the feasibility of constructing a methane- to-hydrogen facility in Gladstone.Furthermore, Real Energy said that the implementation of the merger is subject to a number of conditions that include Real Energy shareholder and court approvals.In March this year, the Government of Queensland, Australia has granted official title to Project Venus permit ATP2051. The merged entity is also expected to benefit from the broader asset portfolio in Australia and Botswana
Switzerland’s largest pension fund, Publica, has said Bill Gross’s recent departure from PIMCO has not undermined its faith in the asset manager.The CHF36bn (€28.3bn) fund said its 2011 award of a US corporate bond mandate did not rely on any single person “but rather on processes, systems, compliance and risk culture”.Publica added that it thought PIMCO was “a top address for bonds” and would “most likely” remain one.Industry figures in the Netherlands echoed Publica’s thoughts, with €377bn asset manager APG arguing that the effects of Gross’s departure were “being exaggerated”. Ben Kramer, chief executive at F&C Netherlands, dismissed the notion that the possible exit of clients from PIMCO would lead to major allocation shifts in the market and said he considered Gross’s decision a “matter between worker and employer”.“We will continue our own strategy, taking the changing landscape into account,” he added.Gross managed well over $200bn (€157.6bn) in PIMCO’s Total Return Bond fund, but on Friday announced he would be moving to Janus Capital Management.The company quickly appointed Daniel Ivascyn to replace Gross.However, Murat Ünal, chief executive at German consultancy [email protected], said the size of the firm’s flagship vehicle had made boosting returns difficult.He said it was “hard to outperform the market if a company has become the market itself” and noted that PIMCO recently “moved away from its core by going into other asset classes, increasing complexity”.Ünal also pointed out that the increase in size and assets since Allianz became PIMCO’s major shareholder had seen the company’s image change by “going from a boutique-like company to a substantial player”.He believes that, from Gross’s perspective, there is most likely “no better point in time” for him to leave PIMCO than now, when markets have enough liquidity to “play along”, apart from any possible contractual reasons (such as lockup periods) that might have prevented him from leaving earlier.
George Fronsman picked up his sixth win in the Allscapes IMCA Stock Cars. Joe Vlasity now holds the most wins of the year in the Desert Restorations IMCA Hobby Stocks with his third win in 2019. Robert Cody closed out the evening with his Mach-1 Sport Compact division leading fourth feature win. His Saturday night victory was Jason Noll’s IMCA Modified second of the season at Canyon Speedway Park. (Photo by Ben Thrasher) Noll held off Parmeley with Kenny Gill, Ryan Roath and Popeye Madrid rounding out the top five. Meanwhile, Noll clicked his way through traffic, taking over the lead from Wyman as lap four was completed. John Parmeley worked his way through the field at the same time, moving into the runner-up spot from the 15th starting position. PEORIA, Ariz. (July 22) – Jason Noll captured his second Arizona Differential IMCA Modified win of the season Saturday at Canyon Speedway Park. By Tony Steele Rookie T.J. Wyman rolled off on the front row of the feature next to Guy Norton, with Norton leading the way through the first two laps. Wyman took over on lap three while Norton’s evening ended early with mechanical issues.
RelatedPosts Ighalo: My best moment as ‘Red Devil’ EPL: Crystal Palace stun sloppy Man U EPL: Red Devils attack Palace Leicester City vs. Arsenal Venue: King Power Stadium Kick off: 6:30PMLeicester City head into their fixture with Arsenal this evening with the opportunity to move into second place in the Premier League table. Meanwhile, Unai Emery takes his side to the King Power Stadium aware that he must start to deliver more wins if he is to keep his job in the Gunners dugout. At a time when several of the division’s top six have struggled for consistency, Leicester City have given every indication that they are capable of gatecrashing the top four at the end of the season. Their only defeats have come on the road to Manchester United and Liverpool, with both North-West giants requiring a penalty to get the better of the Foxes. However, courtesy of three successive victories, Leicester sit six points clear of fifth-placed Arsenal ahead of welcoming the Gunners to their home ground. Despite being less than a third of the way through the campaign, Saturday’s showdown in the East Midlands feels like a pivotal encounter in the context of the rest of the season. Not only would success extend the gap to nine points, it would leave Arsenal facing further scrutiny heading into the winter months, a period which can make or break a club’s season. While defeat would not be the end of the world for Leicester, Brendan Rodgers will be eager to grasp an opportunity to strengthen their hold of a Champions League place with some difficult games to come over Christmas. Jamie Vardy will want to continue his run of five goals from three outings, although Rodgers may be more satisfied if his defence can keep a fourth clean sheet in half-a-dozen matches. To some extent, the pressure is entirely on Arsenal’s shoulders heading into this contest, but Rodgers will want his players to play with the same mix of balance and urgency which has gotten them into their current position. There are some who feel that it is only a matter of time before the Arsenal hierarchy choose to replace Emery, with his squad coming under increasing pressure after letting slip yet another lead on Wednesday night. However, while a win at Leicester would not completely change the mood at the Gunners, it would at least buy Emery some time to make full use of the upcoming international break. The Spaniard requires a period where he can take a step back and assess where this squad is going, rather than having to contend with issues both on and off the pitch when matches are coming thick and fast. There is an argument that Emery did not help himself by taking his time to act on matters involving the club captaincy after Granit Xhaka’s angry outburst towards supporters last month. Nevertheless, failing to take advantage of holding leads against Crystal Palace, Liverpool, Wolverhampton Wanderers and Vitoria de Guimaraes has sparked a concerning period for everyone associated with the club. While Arsenal are still in fifth position, they have benefitted from the inconsistencies of some of their rivals, and a failure to get over their recent slump will soon leave the north Londoners down in mid-table. The main positive from last weekend’s draw with Wolves was Pierre-Emerick Aubameyang ending a three-game streak without a goal in the Premier League. However, Arsenal now only have two clean sheets from 11 top-flight fixtures this season, something which must improve in the coming weeks. Leicester City possible XI: Schmeichel, Pereira, Evans, Soyuncu, Chilwell, Ndidi, Tielemans, Perez, Maddison, Barnes, Vardy. Arsenal possible XI: Leno, Bellerin, Sokratis, Luiz, Tierney, Guendouzi, Torreira, Pepe, Ozil, Aubameyang, Lacazette.Tags: Arsenal FCLeicester City FCManchester UnitedUnai Emery
Newsroom GuidelinesNews TipsContact UsReport an Error Ronnie Price and Wayne Ellington both expressed interest in staying with the Lakers once they become unrestricted free agents in July. Price embraced staying on as a third-string point guard.Meanwhile, Ellington holds the Lakers in high regard. He has a close relationship with Scott and remains thankful for the franchise’s support following his father’s murder on Nov. 9, 2014. But Ellington also wants stability.Though they are interested in keeping both Price and Ellington, the Lakers have put higher priority in the NBA Draft and pursuing marquee players during free agency. Injury updateLakers guard Jordan Clarkson flashed a thumbs up when asked how his sore right ankle feels. But Clarkson said his status is not definitive for when the Lakers (21-60) play in their season-finale today against the Sacramento Kings (28-53) at Staples Center. The raw emotions hit hard, Lakers forward Julius Randle sobbing in both pain and disappointment over suffering a season-ending right leg injury in his first NBA game. But an influential person named Kobe Bryant immediately texted and called Randle. Bryant offered sympathy before quickly providing perspective on two debilitating injuries to his left Achilles tendon and left knee.“ ‘My recovery starts at that moment,’ ” Randle recalled Bryant saying in late October. “From then on, he checked on me every day and every week and made sure my head was in the right place and made sure I’m getting ready for next year.”After his exit meeting on Tuesday with Lakers coach Byron Scott and general manager Mitch Kupchak, Randle feeling “no pain” in his surgically repaired right tibia, has lost weight and is “not too far” in receiving clearance to participate in contact drills. “The plan is to be ready for training camp,” Randle said. “The short-term goal of summer league, that’s what I want to plan. But we have to work to that.”Randle largely credited Bryant’s support during his recovery. Randle also consulted with Indiana forward Paul George, who has recently returned to the court after fracturing his right leg last summer with the U.S. national team.Randle called himself a “strong-minded person.” But he found it useful that Bryant has conceded feeling self-doubt, including his current rehab on his surgically repaired right shoulder. It helped Randle’s psyche that he said he has experienced zero setbacks.“When you see the improvement,” Randle said, “it’s easy in those moments of self-doubt to reflect on those things and have that confidence to keep pushing.”Free agent market