Trillion Energy International Inc.(“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to provide this operational update for the SASB gas field well intervention program.
South Akcakoca-2 well was perforated over the intervals 2319.5-2323.5 (4.0 m), 2339.6-2341.3 (1.7m) and 2411.1-2412.8 (1.7m) for a total of 6.4 m (all measured depth “MD”). Well hole pressure (WHP) was 86 psi before perforation, the WHP increased to 1046 psi. The well flowed continuously from the morning of July 9th and by July 10th afternoon the flow rate was 0.70 MMcf/d with a WHP of 140 psi; July 12th flow rate was 1.2 MMcf/d with a WHP of 156 psi; July 14th flow rate was 1.88 MMcf/d with a WHP of 312 psi; last data point at 4:30 pm July 15th flow rate was 2.88 MMcf/d with a WHP of 318 psi.
South Akcakoca-2 well will be continued to be monitored until it reaches a stable rate. The production characteristics indicated that perforating the new zones blew the water out of the well, but also indicate that the reservoirs that were water blocked are cleaning up and producing gas.
Guluc-2 well was perforated over the intervals 3512-3514.5 (2.5 m), 3749.5-3751.3 (1.8 m), 3770.7-3772.4 (1.7m) and 3781.6-3783.3 (1.7m) for a total of 7.7 m (all MD). WHP was 650 psi and increased to 1243 psi before settling to 1098 psi. Guluc-2 will be flowed to clean the water and perforation debris out and be capable of gas production, however, it will than be shut in while South Akcakoca-2 well gas production stabilizes. The increase in the WHP during perforation indicates gas flowed into the borehole from the new perforated zones. Updated flow rates have yet to be established for this well due to the ongoing testing of SA-2.
The perforation operation is currently continuing ongoing on West Akcakoca-1 well after which it will perforate the remaining pay in Akcakoca-3.
Arthur Halleran CEO of Trillion stated:
“The fantastic response of South Akcakoca-2 once the water was lift off the perforations indicates that the reservoirs will produce the gas they contain once the water loading is removed. The wells are going to be perforated and monitored during clean up to evaluate the reservoirs response. The next phase of this project is to install the smaller production tubing (2 3/8”) to allow the wells to produce for a few years before water loading occurs again.
About the Company
Trillion Energy International Inc is focused on oil and natural gas production for Europe and Türkiye with natural gas assets in Türkiye. The Company holds a 49% interest in the SASB natural gas field, a Black Sea natural gas development and 19.6% (except three wells with 9.8%) interest in the Cendere oil field. The Company also is pursuing oil exploration in S.E. Turkiye and beyond. More information may be found on www.sedar.com, and our website.
Contact
Arthur Halleran
1-778-819-1585
e-mail: info@trillionenergy.com;
Website: www.trillionenergy.com
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the Company's ability to obtain regulatory approval of the executive officer and director appointments. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. Trillion does not undertake to update any forward-looking information except in accordance with applicable securities laws.
These statements are no guarantee of future performance and are subject to certain risks, uncertainties, delay, change of strategy, and assumptions that are difficult to predict and which may change over time. Accordingly, actual results and strategies could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. These factors include unforeseen securities regulatory challenges, COVID, oil and gas price fluctuations, operational and geological risks, changes in capital raising strategies, the ability of the Company to raise necessary funds for development; the outcome of commercial negotiations; changes in technical or operating conditions; the cost of extracting gas and oil may increase and be too costly so that it is uneconomic and not profitable to do so and other factors discussed from time to time in the Company’s filings on www.sedar.com" target="_blank" rel="noopener noreferrer">www.sedar.com, including the most recently filed Annual Report on Form 20-F and subsequent filings. For a full summary of our oil and gas reserves information for Turkey, please refer to our Forms F-1,2,3 51-101 filed on www.sedar.com, and or request a copy of our reserves report effective December 31, 2023.
(TheNewswire)
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Brossard, Quebec, July 16, 2024 TheNewswire Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE"), North America's only publicly traded pure-play green hydrogen company, is pleased to announce its participation in the upcoming World Electrolysis North America free webinar: Scaling Up Electrolytic Hydrogen in North America on July 17, 2024 at 1:00 PM EDT.
Part of an expert industry panel discussion focused on policy measures, funding and other market activities helping to scale-up electrolyzer deployment for clean hydrogen projects, Chief Operating Officer, Daniel Charette, will introduce CHARBONE's plans to deliver a network of modular green hydrogen facilities across North America.
With green hydrogen production poised to kick off later this year at its Sorel-Tracy, Quebec facility along with plans to introduce a second Detroit, Michigan area facility before year-end, CHARBONE recently announced its intent to target additional high-potential markets including Chicago, New York, the GTA in Ontario, Wisconsin, Indiana, Pennsylvania, and California. In total, CHARBONE plans to deliver 16 green hydrogen production facilities across North America by 2030 and is actively mobilizing and ensuring the availability of its supply chain of fully integrated electrolyzers ranging up to 2.5 MW, 5.0 MW, 10.0 MW and above. The Company also confirms it is in the process of responding to and proposing projects for two different large-scale RFIs (Requests for Information).
The emphasis being placed on green hydrogen development by both US and Canadian administrations, backed by substantial tax credit incentives, has made the domestic electrolysis market highly attractive to investors. As a result, CHARBONE is designing new ‘fast-build' production facilities and planning ambitious projects.
The Sorel-Tracy Green Hydrogen Project will serve as the Company's flagship facility, giving CHARBONE a first-mover advantage with production starting in 2024 with an initial capacity of approximately 400kg. Following a phased development approach, the project will allow to gradually scale up the production of hydrogen. The facility will target a wide array of industrial users who are abandoning fossil-fuel-driven gray hydrogen and opting for a cleaner alternative.
The inaugural World Electrolysis North America large conference in Boston, USA, will bring together electrolytic hydrogen experts, prominent industry leaders, and key stakeholders throughout the North American clean hydrogen landscape to unlock new commercial opportunities and deep insight into the electrolysis ecosystem in the region. Free registration and more information for the July 17 th pre-event webinar can be found here .
About Charbone Hydrogen Corporation
CHARBONE is an integrated green hydrogen group focused on delivering a network of modular green hydrogen production facilities across North America. Using renewable energy sources to produce green (H2) dihydrogen molecules and eco-friendly energy solutions for industrial, institutional, commercial and future mobility users, CHARBONE plans to scale and deliver green hydrogen production facilities in both the US and Canada by 2024, with an additional 14 facilities planned by 2030. CHARBONE is the only publicly traded pure-play green hydrogen company with common shares trading on the TSX Venture Exchange (TSXV: CH); the OTC Markets (OTCQB: CHHYF); and the Frankfurt Stock Exchange (FSE: K47). For more information, please visit www.charbone.com
Forward-Looking Statements
This news release contains statements that are "forward-looking information" as defined under Canadian securities laws ("forward-looking statements"). These forward-looking statements are often identified by words such as "intends", "anticipates", "expects", "believes", "plans", "likely", or similar words. The forward-looking statements reflect management's expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Corporation's Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
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 .
Contacts Charbone Hydrogen Corporation | ||||
Dave B. Gagnon | ||||
Chief Executive Officer and Chairperson of the Board | ||||
Telephone: | +1 438 844-7170 | |||
Email: | ||||
Daniel Charette | ||||
Chief Operating Officer | ||||
Telephone: | +1 438 800-4946 | |||
Email: | ||||
Benoit Veilleux | ||||
Chief Financial Officer and Corporate Secretary | ||||
Telephone: | +1 438 800-4991 | |||
Email: | ||||
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Brossard (Québec), le 16 juillet 2024 TheNewswire CORPORATION CHARBONE HYDROGÈNE (TSXV: CH OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), la seule société d'Amérique du Nord cotée en bourse spécialisée dans l'hydrogène vert, est heureuse d'annoncer sa participation au prochain webinaire gratuit de World Electrolysis North America : Développement de l'hydrogène électrolytique en Amérique du Nord, le 17 juillet 2024 à 13h00 HAE.
Dans le cadre d'une table ronde d'experts de l'industrie axée sur les mesures politiques, le financement et d'autres activités de marché contribuant à étendre le déploiement d'électrolyseurs pour les projets d'hydrogène propre, le Chef de l'exploitation, Daniel Charette, présentera les projets de Charbone visant à fournir un réseau d'installations modulaires d'hydrogène vert à travers l'Amérique du Nord.
Alors que la production d'hydrogène vert est sur le point de démarrer plus tard cette année à son usine de Sorel-Tracy, au Québec, et qu'elle envisage d'ouvrir une deuxième usine dans la région de Détroit, au Michigan, avant la fin de l'année, Charbone a récemment annoncé son intention de cibler d'autres marchés à fort potentiel, notamment : Chicago, New York, la région du Grand Toronto en Ontario, le Wisconsin, l'Indiana, la Pennsylvanie et la Californie. Au total, Charbone prévoit de livrer 16 usines de production d'hydrogène vert à travers l'Amérique du Nord d'ici 2030 et mobilise et assure activement la disponibilité de sa chaîne d'approvisionnement d'électrolyseurs entièrement intégrés allant jusqu'à 2.5 MW, 5.0 MW, 10.0 MW et plus. La Société confirme également qu'elle est en train de répondre et de proposer des projets dans deux RFI (Demandes pour Information) à différentes échelles.
L'accent mis sur le développement de l'hydrogène vert par les administrations américaine et canadienne, soutenu par d'importants crédits d'impôt, a rendu le marché national de l'électrolyse très attractif pour les investisseurs. En conséquence, Charbone conçoit de nouvelles installations de production « à construction rapide » et planifie des projets ambitieux.
Le projet d'hydrogène vert de Sorel-Tracy servira d'installation phare de la Société, donnant à Charbone un avantage de premier arrivant avec une production débutant en 2024 avec une capacité initiale d'environ 400kg. Suivant une approche de développement par étapes, le projet permettra d'augmenter progressivement la production d'hydrogène. L'installation ciblera un large éventail d'utilisateurs industriels qui abandonnent l'hydrogène gris issu de combustibles fossiles et optent pour une alternative plus propre .
La grande conférence inaugurale de World Electrolysis North America à Boston, aux États-Unis, réunira des experts en hydrogène électrolytique, d'éminents leaders de l'industrie et des parties prenantes clés du paysage nord-américain de l'hydrogène propre pour débloquer de nouvelles opportunités commerciales et une connaissance approfondie de l'écosystème de l'électrolyse dans la région . L'inscription gratuite et plus d'informations pour le webinaire pré-événement du 17 juillet sont disponibles ici .
À propos de Charbone Hydrogène Corporation
Charbone est un groupe intégré de production d'hydrogène vert axé sur le déploiement d'un réseau nord-américain d'usines de production. En utilisant des énergies renouvelables pour produire des molécules de dihydrogène (H2) et des solutions écoénergétiques et respectueuses de l'environnement aux utilisateurs industriels, institutionnels, commerciaux et de la mobilité future, Charbone prévoit déployer et livrer des usines de production d'hydrogène vert aux États-Unis et au Canada d'ici 2024, et 14 usines supplémentaires sont prévues d'ici 2030. Charbone est la seule société d'Amérique du Nord cotée en bourse spécialisée dans l'hydrogène vert avec ses actions ordinaires se négociant sur la Bourse de croissance TSX (TSXV: CH); les marchés OTC (OTCQB: CHHYF); et la Bourse de Francfort (FSE: K47). Pour plus d'information, merci de visiter www.charbone.com .
Énoncés prospectifs
Le présent communiqué de presse contient des énoncés qui constituent de « l'information prospective » au sens des lois canadiennes sur les valeurs mobilières (« déclarations prospectives »). Ces déclarations prospectives sont souvent identifiées par des mots tels que « a l'intention », « anticipe », « s'attend à », « croit », « planifie », « probable », ou des mots similaires. Les déclarations prospectives reflètent les attentes, estimations ou projections respectives de la direction de Charbone concernant les résultats ou événements futurs, sur la base des opinions, hypothèses et estimations considérées comme raisonnables par la direction à la date à laquelle les déclarations sont faites. Bien que Charbone estime que les attentes exprimées dans les déclarations prospectives sont raisonnables, les déclarations prospectives comportent des risques et des incertitudes, et il ne faut pas se fier indûment aux déclarations prospectives, car des facteurs inconnus ou imprévisibles pourraient faire en sorte que les résultats réels soient sensiblement différents de ceux exprimés dans les déclarations prospectives. Des risques et des incertitudes liés aux activités de Charbone peuvent avoir une incidence sur les déclarations prospectives. Ces risques, incertitudes et hypothèses comprennent, sans s'y limiter, ceux décrits à la rubrique « Facteurs de risque » dans la déclaration de changement à l'inscription de la Société datée du 31 mars 2022, qui peut être consultée sur SEDAR à l'adresse www.sedar.com; ils pourraient faire en sorte que les événements ou les résultats réels diffèrent sensiblement de ceux prévus dans les déclarations prospectives.
Sauf si les lois sur les valeurs mobilières applicables l'exigent, Charbone ne s'engage pas à mettre à jour ni à réviser les déclarations prospectives.
Ni la Bourse de croissance TSX ni son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n'acceptent de responsabilité quant à la pertinence ou à l'exactitude du présent communiqué.
Contacts
Pour de plus amples informations, veuillez contacter :
Dave B. G agnon | ||
Chef de la direction et président du conseil d'administration | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 438 844-7170 | ||
Courriel: dg@charbone.com | ||
Daniel Charette | ||
Chef de l'exploitation | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau : +1 438 800-4946 | ||
Courriel: dc@charbone.com | ||
Benoit Veilleux | ||
Chef de la direction financière et secrétaire corporatif | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 438 800-4991 | ||
Courriel: bv@charbone.com |
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./
Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces that its board of directors has declared a monthly dividend of $0.0065 per common share, payable in cash on August 15, 2024 to shareholders of record on July 31, 2024 .
This dividend is designated as an "eligible dividend" for Canadian income tax purposes.
GRANTS OF INCENTIVE SECURITIES
Source Rock further announces that effective July 15, 2024 (the "Grant Date"), pursuant to its Stock Option Plan and Restricted Share Unit and Deferred Share Unit Compensation Plan, respectively, it has granted (i) 260,000 stock options (each an "Option"); (ii) 455,000 restricted share units (each a "RSU"); and (iii) 312,500 deferred share units (each a "DSU") to officers and directors.
Each Option has a term of 3 years and may be exercised at a price of $0.93 per Option. The Options shall vest one-third on the Grant Date, and one-third on each of the first and second anniversaries of the Grant Date.
Each RSU entitles the holder to receive one common share of Source Rock, or a cash payment equal to the equivalent value of one common share of Source Rock at the time of vesting, or a combination of both. The RSU's granted shall vest one-third on each of the first, second and third anniversaries of the Grant Date. Each DSU represents the right to receive one common share of Source Rock, or a cash payment equal to the equivalent value of one common share of Source Rock, upon the holder of such DSU ceasing to be an officer or director of Source Rock.
About Source Rock Royalties Ltd.
Source Rock is a pure-play oil and gas royalty company with an existing portfolio of oil royalties in southeast Saskatchewan , central Alberta and west-central Saskatchewan . Source Rock targets a balanced growth and yield business model, using funds from operations to pursue accretive royalty acquisitions and to pay dividends. By leveraging its niche industry relationships, Source Rock identifies and acquires both existing royalty interests and newly created royalties through collaboration with industry partners. Source Rock's strategy is premised on maintaining a low-cost corporate structure and achieving a sustainable and scalable business, measured by growing funds from operations per share and maintaining a strong netback on its royalty production.
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 of this release.
SOURCE Source Rock Royalties Ltd.
View original content: http://www.newswire.ca/en/releases/archive/July2024/15/c4094.html
News Provided by Canada Newswire via QuoteMedia
(TheNewswire)
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Brossard (Québec), le 11 juillet 2024 TheNewswire CORPORATION CHARBONE HYDROGÈNE (TSXV: CH OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), la seule société d'Amérique du Nord cotée en bourse spécialisée dans l'hydrogène vert, est heureuse de fournir une mise à jour sur ses efforts d'expansion du marché nord-américain d'ici 2025 alors que la société accueille un nouveau membre de l'équipe des opérations.
Charbone est heureuse d'accueillir M. David Cheung Atkinson, P. Eng, MBA, en tant que consultant au sein de son équipe d'exploitation. Collègue de longue date de l'équipe de direction de Charbone, les 25 années d'expérience de David dans les énergies renouvelables s'étendent sur des projets de micro-réseaux, d'énergies éoliennes, solaires et de stockage, avec un amalgame d'ingénierie et de développement de projet, d'autorisation environnementale et permis, de financement et d'exploitation. David travaillera en collaboration étroite avec le chef d'exploitation de Charbone pour soutenir le déploiement des projets d'hydrogène vert aux États-Unis et au Canada, tout en aidant à l'exécution des contrats d'achat d'électricité (PPA) d'énergies renouvelables, des accords d'interconnexion (IA) et gèrera les opérations quotidiennes des actifs de production existantes de Charbone du côté des énergies renouvelables de la Société.
" David est un solide leader qui apporte une formidable expérience complémentaire en matière d'énergies renouvelables à l'équipe de l'entreprise pendant cette étape cruciale de croissance , a déclaré Daniel Charette, Chef de l'exploitation chez Charbone. " En plus des incitatifs américains, les crédits d'impôt à l'investissement (CTI) canadiens pour l'hydrogène propre qui devraient offrir à Charbone des réductions d'impôt importantes sur les coûts des projets, pouvant aller jusqu'à 40%. Les PPA nous permettront d'acheter de l'électricité propre et renouvelable sur le réseau et d'accéder à des incitatifs réglementaires. Notre objectif est de tirer parti de l'expérience de David en la matière et dans de nombreux autres domaines . "
Alors que la production d'hydrogène vert est sur le point de démarrer plus tard cette année à son usine de Sorel-Tracy, au Québec, et qu'elle envisage d'ouvrir une deuxième usine dans la région de Détroit, au Michigan, avant la fin de l'année, Charbone prend des mesures pour accroître sa main-d'œuvre et pénétrer de nouveaux marchés. La Société a l'intention de cibler d'autres marchés à faible offre et à fort potentiel, notamment : New York, l'Ontario, la Pennsylvanie, l'Illinois, le Wisconsin et la Californie. Charbone a également été invité à répondre et à proposer des projets dans deux RFI (Demandes pour Information) à différentes échelles. Au total Charbone prévoit de livrer 16 usines de production d'hydrogène vert à travers l'Amérique du Nord d'ici 2030.
À propos de Charbone Hydrogène Corporation
Charbone est un groupe intégré de production d'hydrogène vert axé sur le déploiement d'un réseau nord-américain d'usines de production. En utilisant des énergies renouvelables pour produire des molécules de dihydrogène (H2) et des solutions écoénergétiques et respectueuses de l'environnement aux utilisateurs industriels, institutionnels, commerciaux et de la mobilité future, Charbone prévoit déployer et livrer des usines de production d'hydrogène vert aux États-Unis et au Canada d'ici 2024, et 14 usines supplémentaires sont prévues d'ici 2030. Charbone est la seule société d'Amérique du Nord cotée en bourse spécialisée dans l'hydrogène vert avec ses actions ordinaires se négociant sur la Bourse de croissance TSX (TSXV: CH); les marchés OTC (OTCQB: CHHYF); et la Bourse de Francfort (FSE: K47). Pour plus d'information, merci de visiter www.charbone.com .
Énoncés prospectifs
Le présent communiqué de presse contient des énoncés qui constituent de « l'information prospective » au sens des lois canadiennes sur les valeurs mobilières (« déclarations prospectives »). Ces déclarations prospectives sont souvent identifiées par des mots tels que « a l'intention », « anticipe », « s'attend à », « croit », « planifie », « probable », ou des mots similaires. Les déclarations prospectives reflètent les attentes, estimations ou projections respectives de la direction de Charbone concernant les résultats ou événements futurs, sur la base des opinions, hypothèses et estimations considérées comme raisonnables par la direction à la date à laquelle les déclarations sont faites. Bien que Charbone estime que les attentes exprimées dans les déclarations prospectives sont raisonnables, les déclarations prospectives comportent des risques et des incertitudes, et il ne faut pas se fier indûment aux déclarations prospectives, car des facteurs inconnus ou imprévisibles pourraient faire en sorte que les résultats réels soient sensiblement différents de ceux exprimés dans les déclarations prospectives. Des risques et des incertitudes liés aux activités de Charbone peuvent avoir une incidence sur les déclarations prospectives. Ces risques, incertitudes et hypothèses comprennent, sans s'y limiter, ceux décrits à la rubrique « Facteurs de risque » dans la déclaration de changement à l'inscription de la Société datée du 31 mars 2022, qui peut être consultée sur SEDAR à l'adresse www.sedar.com; ils pourraient faire en sorte que les événements ou les résultats réels diffèrent sensiblement de ceux prévus dans les déclarations prospectives.
Sauf si les lois sur les valeurs mobilières applicables l'exigent, Charbone ne s'engage pas à mettre à jour ni à réviser les déclarations prospectives.
Ni la Bourse de croissance TSX ni son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n'acceptent de responsabilité quant à la pertinence ou à l'exactitude du présent communiqué.
Contacts
Pour de plus amples informations, veuillez contacter :
Dave B. G agnon | ||
Chef de la direction et président du conseil d'administration | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 438 844-7170 | ||
Courriel: dg@charbone.com | ||
Daniel Charette | ||
Chef de l'exploitation | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau : +1 438 800-4946 | ||
Courriel: dc@charbone.com | ||
Benoit Veilleux | ||
Chef de la direction financière et secrétaire corporatif | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 438 800-4991 | ||
Courriel: bv@charbone.com |
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
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Brossard, Quebec TheNewswire - July 11, 2024 Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE"), North America's only publicly traded pure-play green hydrogen company, is pleased to provide an update on its 2025 North American market expansion efforts as the Company onboards a new Operations team member.
CHARBONE is pleased to welcome Mr. David Cheung Atkinson, P.Eng, MBA as a consultant to its operations team. A long-time energy colleague of the CHARBONE management team, David's 25 years of experience in renewable energy spans micro-grid, wind, solar and energy storage projects, with a mix of project engineering, project development, permitting, financing and operations. David will work with Charbone's COO to support the green hydrogen project deployments across the United States and Canada, while helping to execute renewable energy power purchase agreements (PPA's), interconnection agreements (IA's), and will manage the daily operations of CHARBONE's remaining production assets on the renewable energy side of the business.
"David is a strong leader who brings tremendous complementary renewable energy experience to the Company team during this pivotal growth stage," said Daniel Charette, Chief Operating Officer, Charbone Hydrogen. "In addition to US incentives, the Canadian Investment Tax Credits (ITCs) for clean hydrogen should provide CHARBONE with significant tax rebates on project costs of up to 40%. PPA's will allow us to purchase clean and renewable electricity from the grid and access regulatory incentives, has we aim to tap into David's experience here and in many other areas."
With green hydrogen production poised to kick off later this year at its Sorel-Tracy, Quebec facility along with plans to introduce a second Detroit, Michigan area facility before year-end, CHARBONE is making moves to expand its workforce and enter new markets. The Company intends to target additional low-supply / high-potential markets including New York, Ontario, Pennsylvania, Illinois, Wisconsin and California. CHARBONE has also been invited to respond and propose projects in two different large-scale RFIs (Requests for Information). In total, CHARBONE plans to deliver 16 green hydrogen production facilities across North America by 2030.
About Charbone Hydrogen Corporation
CHARBONE is an integrated green hydrogen group focused on delivering a network of modular green hydrogen production facilities across North America. Using renewable energy sources to produce green (H2) dihydrogen molecules and eco-friendly energy solutions for industrial, institutional, commercial and future mobility users, CHARBONE plans to scale and deliver green hydrogen production facilities in both the US and Canada by 2024, with an additional 14 facilities planned by 2030. CHARBONE is the only publicly traded pure-play green hydrogen company with common shares trading on the TSX Venture Exchange (TSXV: CH); the OTC Markets (OTCQB: CHHYF); and the Frankfurt Stock Exchange (FSE: K47). For more information, please visit www.charbone.com
Forward-Looking Statements
This news release contains statements that are "forward-looking information" as defined under Canadian securities laws ("forward-looking statements"). These forward-looking statements are often identified by words such as "intends", "anticipates", "expects", "believes", "plans", "likely", or similar words. The forward-looking statements reflect management's expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Corporation's Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
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 .
Contacts Charbone Hydrogen Corporation | ||||
Dave B. Gagnon | ||||
Chief Executive Officer and Chairperson of the Board | ||||
Telephone: | +1 438 844-7170 | |||
Email: | ||||
Daniel Charette | ||||
Chief Operating Officer | ||||
Telephone: | +1 438 800-4946 | |||
Email: | ||||
Benoit Veilleux | ||||
Chief Financial Officer and Corporate Secretary | ||||
Telephone: | +1 438 800-4991 | |||
Email: | ||||
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Oil and natural gas stocks on the ASX could benefit from the commodities' price movements, as experts are calling for continued price volatility in the global oil and gas market in 2024.
According to the Australia Institute for Petroleum, crude oil is purchased using US dollars, making it important to track oil's price movements in the currency. This also means investors should keep an eye on the exchange rate for USD to Australian dollars.
Thanks to factors including Saudi Arabia's voluntary oil production cuts and a drop in US commercial crude oil inventories, WTI crude prices rose to US$91 per barrel this past September. However, concerns over worldwide oil demand growth and rising global inventories pushed prices down to a low of US$69 in December.
In the first half of 2024, oil prices were riding an uptrend spurred on by rising tensions in the Middle East amid tightening supplies. Peaking at a high of US$86 in early April, demand side challenges once again weighed down crude oil prices to US$73 per barrel in early June.
As Trading Economics reports, crude oil prices are on the rise in late June as the odds of a wider regional conflict threatens the breakout around the Israel-Hamas war in the Middle East. WTI crude is up over US$80 per barrel as of June 28, for a 15 percent gain for the first half of the year. This is welcome news to Australian oil companies.
After a sharp decline lasting six months from November, natural gas prices are surging. The earlier decline was attributed to a shift in mature markets, such as the Asia Pacific region, Europe and North America, which are experiencing reductions in gas demand as they sought alternatives like renewables and pursued improved energy efficiency.
This latest price rise for natural gas is coming from increased demand to power air conditioning during above normal temperatures, according to Trading Economics.
Looking further into 2024, the US Energy Information Association sees oil prices averaging US$84 per barrel and Henry Hub natural gas prices rising from US$2.12 per million British thermal units (MMBtu) in May to US$3.30/MMBtu in December.
With compelling reasons to enter the oil and gas sector, what's the best way for Australian investors to get exposure? The biggest ASX oil and gas companies by market cap are one place to start. Data for the list below was obtained on June 28, 2024, using TradingView’s stock screener. All market cap and share price data was accurate at that time.
Market cap: AU$53.58 billion; share price: AU$28.21
As the biggest ASX-listed oil and gas stock by market cap, Woodside Energy Group leads the country in natural gas production and is considered a pioneer in Australia’s liquefied natural gas (LNG) industry.
In June 2022, Woodside Petroleum merged with BHP's (ASX:BHP,NYSE:BHP,LSE:BHP) oil and gas business to form Woodside Energy Group. The new company's natural gas production accounts for 5 percent of global LNG supply. With its expanded portfolio, Woodside achieved quarterly revenues of US$2.97 billion for Q1 2024 ended March 31.
The company reported in June that it achieved first production at the Sangomar project in Senegal, the country's first offshore oil project. Its stand-alone floating production storage and offloading facility has a nameplate capacity of 100,000 barrels per day. Woodside will continue ramping up production throughout the year.
Market cap: AU$24.85 billion; share price: AU$7.66
Australian energy company Santos is the country’s second biggest oil and gas producer. The ASX-listed firm supplies its products to markets located across Australia and Asia.
In February 2022, Santos partnered with SK E&S and others on carbon capture and storage projects in Australia.
“Just as Australia has been a reliable energy producer for Asian economies for more than half a century, there is an enormous opportunity for Australia to be at the forefront of helping them decarbonise using our natural competitive advantage in carbon storage resources and knowhow,” said Santos CEO and Managing Director Kevin Gallagher last November.
In its report for Q1 2024, Santos highlighted significant free cashflow of US$692 million and sales revenue of US$1.4 billion. In May, the company secured a binding 10 year LNG supply and purchase agreement with Japan's Hokkaido Gas Co. (TSE:9534) for approximately 400,000 tonnes of LNG per year starting in 2027.
Market cap: AU$4.98 billion; share price: AU$3.15
Viva Energy Group owns the Geelong oil refinery and distributes Shell-branded (LSE:SHEL,NYSE:SHEL) fuels throughout Australia. The firm oversees a vast network of over 1,300 Shell and Liberty service stations nationwide.
In its 2023 full-year report, Viva Energy reported a year-on-year increase in fuel sales of 9 percent for the period, as well as a 33 percent increase in earnings before interest, taxes, depreciation and amortization (EBITDA) for its Commercial and Industrial segment to reach a record AU$447.5 million. Its Convenience and Mobility segment posted an EBITDA of AU$232.2 million.
In its Q1 2024 operating update, Viva Energy, highlighted that its Commercial and Industrial segment delivered another quarter of record sales volumes, up by 11.7 percent over the same quarter last year. The company attributed the growth to strong demand from the aviation, resources, and agriculture sectors along with new business secured last year such as the Australian Defence Force.
Market cap: AU$3.36 billion; share price: AU$1.49
Oil and gas exploration and production company Beach Energy has a diverse portfolio, with onshore and offshore oil and gas production in five basins across Australia and New Zealand.
Last year, the company made gas discoveries at both Tarantula Deep 1 and Trigg Northwest 1 as part of its ongoing Perth Basin gas exploration campaign.
In its 2024 half-year fiscal report, Beach Energy posted AU$941 million in sales revenue, up 16 percent year-over-year. This was despite production decreasing by 11 percent for the same period to 8.8 million barrels of oil, which was attributed mainly to lower customer gas nominations.
Looking ahead the company is targeting early calendar year 2025 for first gas production at its Waitsia gas plant, which is currently under construction.
Market cap: AU$1.43 billion; share price: AU$1.83
Karoon Energy is focused on continued company growth through a broad pipeline of exploration and development projects in Brazil, including its producing Baúna and Piracaba oil fields.
In December, Karoon completed its acquisition of interests in the US Gulf of Mexico from LLOG, including a 30 percent working interest in the Who Dat and Dome Patrol oil and gas fields and associated infrastructure, as well as a nearly 16 percent working interest in the Abilene field and varying interests in adjacent exploration acreage.
In its Q1 2024 report, Karoon outlines production of 3.11 million barrels a day, up 18 percent over the previous quarter. This resulted in sales revenue of US$196.6 million. The company's guidance for its calendar year 2024 production stands at between 10.5 million barrels of oil equivalent and 12.5 million barrels of oil equivalent.
Crude oil is a mixture of hydrocarbons in liquid form that is found in natural underground reservoirs in the Earth's crust. This petroleum liquid is refined to produce a variety of energy and industrial products, including asphalt, diesel and jet fuels, gasoline, heating oils, lubricants and propane.
Geoscience Australia states that Australia hosts about 0.3 percent of global oil reserves.
“Most of Australia's known remaining oil resources are condensate and liquefied petroleum gas associated with giant offshore gas fields in the Browse, Carnarvon and Bonaparte basins,” according to the government agency.
In addition to producing it domestically, Australia receives oil imports from Singapore, South Korea, China, Malaysia and India, because Australia’s domestic oil production does not cover its oil consumption.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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