Market Newsdesk

TORONTO, Jan. 22, 2021 /CNW/ – Scotia Global Asset Management today announced the January 2021 cash distributions for the Scotia Strategic Fixed Income ETF Portfolio listed on the TSX and the Scotia Canadian Bond Index Tracker ETF listed on the NEO Exchange, which pays on a monthly basis. Unitholders of record on January 29, 2021 will receive cash distributions for the respective ETF payable on February 5, 2021.

The details of the cash distribution amounts per unit are as follows:

For more information on the Scotia Strategic ETF Portfolios and the Scotia Index Tracker ETFs, please visit here.

Commissions, management fees and expenses all may be associated with investments in exchange-traded funds (ETFs). Please read the prospectus before investing. The securities held by the ETFs can change at any time without notice. Investments in ETFs are not guaranteed, their values change frequently and past performance may not be repeated.

About Scotia Global Asset Management
Scotia Global Asset Management is a business name used by 1832 Asset Management L.P., a limited partnership, the general partner of which is wholly owned by Scotiabank. Scotia Global Asset Management offers a range of wealth management solutions, including mutual funds, and investment solutions for private clients, institutional clients and managed asset programs.

About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our purpose: “for every future”, we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of over 90,000 employees and assets of approximately $1.1 trillion (as at October 31, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank

EMERYVILLE, Calif., Jan. 22, 2021 /PRNewswire/ — Amyris, Inc. (Nasdaq: AMRS), a leading synthetic biotechnology company active in the Clean Health and Beauty markets through its consumer brands and a top supplier of sustainable and natural ingredients, today announced that it will expand its portfolio of consumer brands by launching a new range of Terasana branded clean beauty products focused on sustainably sourced natural cannabinoids.

With Terasana, Amyris is focused on offering leading skincare applications formulated with unique natural cannabinoids that deliver high efficacy sustainable products direct to consumers. This will further expand Amyris’s presence in the clean beauty space beyond its Biossance® skincare, Pipette® baby and mother care, Rose Inc.™ clean cosmetics brand and recently announced Jonathan Van Ness partnership for a new clean haircare brand.

Enabled by its proprietary Lab-to-Market synthetic biology platform, Amyris has a track record of developing and producing platform molecules from naturally sourced sugarcane and a sustainable fermentation production process. Through this platform, Amyris recently commercialized a clean, sustainable, fermentation based CBG (cannabigerol), a non-psychoactive cannabinoid.  

Early results from clinical studies demonstrate that Amyris CBG skincare applications formulated with natural sugarcane based Neossance™ squalane provide significantly better therapeutic effect and efficacy compared to many standard CBD (cannabidiol) topical applications, addressing conditions like dry skin, skin flaking, irritation, redness and blemishes.

“We are very pleased with the early clinical results demonstrating Amyris CBG benefits including enhanced performance when combined with squalane. We are excited to lead the cannabinoid industry with science-backed, sustainably and cost-effectively sourced minor cannabinoids delivering outstanding performance for consumers and our planet,” said John Melo, President and Chief Executive Officer of Amyris. “During the fourth quarter of 2020 we sold out our entire first industrial production of clean CBG as an ingredient for use in flavors and fragrances. We are very optimistic about the future of clean cannabinoids and the efficacy they can bring to skincare as a logical extension to our existing consumer portfolio. Amyris’s consumer business is nearly half of total product revenue and represents the fastest growing business activity in our portfolio.”

About Amyris


Amyris (Nasdaq: AMRS) is a science and technology leader in the research, development and production of sustainable ingredients for the Clean Health & Beauty and Flavors & Fragrances markets. Amyris uses an impressive array of exclusive technologies, including state-of-the-art machine learning, robotics and artificial intelligence. Our ingredients are included in over 3,000 products from the world’s top brands, reaching more than 200 million consumers. Amyris is proud to own three consumer brands – all built around its No Compromise® promise of clean ingredients: Biossance® clean beauty skincare, Pipette® clean baby skincare and Purecane™, a zero-calorie sweetener naturally derived from sugarcane. For more information, please visit www.amyris.com.

Forward-Looking Statements
This release contains forward-looking statements, and any statements other than statements of historical fact could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding Amyris’s plans to acquire the Terasana brand to expand its portfolio by launching a new range of clean beauty products focused on clean, sustainably-sourced natural cannabinoids; the expected expansion of Amyris’s presence in the clean beauty space; and Amyris’s expectation of leading the industry with cannabinoids that deliver outstanding performance for consumers and the planet. These statements are based on management’s current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to successfully acquiring and integrating the Terasana brand; potential delays or failures in development, production and commercialization of products, risks related to Amyris’s reliance on third parties (including in the supply chain), Amyris’s liquidity and ability to fund operating and capital expenses, and other risks detailed from time to time in filings Amyris makes with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Amyris disclaims any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events, or otherwise.

Amyris, the Amyris logo, No Compromise, Biossance, Pipette, and Purecane are trademarks or registered trademarks of Amyris, Inc. in the U.S. and/or other countries.

 

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SOURCE Amyris, Inc.

HONG KONG, Jan. 22, 2021 /PRNewswire/ — CLPS Incorporation (Nasdaq: CLPS) (“CLPS” or “the Company”), today announced its strategic investment, through its wholly owned subsidiary, ChinaLink Professional Services Co. Ltd., in Shanghai Shier Information Technology Co., Ltd. (“SSIT”), an e-commerce services provider. CLPS has indirectly taken 35% ownership stake in SSIT as part of the Company’s growth strategy to diversify its business model.

SSIT develops and offers e-commerce platform products integrated with rebate program as its main and unique feature. Its products include the “Group Store”, an online one-stop shop platform exclusive for an enterprise’s employees; and “Duoshouji”, a mobile application available for all Android and iOS users. SSIT has partnered with over 10 leading e-commerce companies, catering to hundreds of brands in China and to its over 100,000 registered users, of which more than 50% are active users. SSIT has attracted a large scale, long standing, and loyal customer base as a result of its well-received platform among the enterprises’ users.

The advent of mobile internet and 5G technology defines the ever-changing trend for acquiring online traffic. This trend is expected to be a more efficient way compared to traditional and costly methods such as search engine optimization (SEO), search engine marketing (SEM) and social media promotion, among others.

Over the years, CLPS has been focused on the business-to-business (B2B) model, and its partnership with SSIT now paves the way to penetrate the business-to-consumer (B2C) through enterprise employee data outreach. In addition, CLPS and SSIT have agreed to integrate more financial products and services into the Group Store as part of an enterprise’s development strategy, leveraging the Company’s expertise in the financial industry.

Mr. Henry Li, Chief Operating Officer of CLPS, said, “The investment in SSIT marks our attempt to enter the B2C business. We are optimistic that this investment will not only generate and improve our financials, but will also complement the respective competitive advantage in B2B and B2C to build an online traffic platform, a new engine of attracting potential clients and a vehicle to fulfill our future business model diversification.”

About CLPS Incorporation

Headquartered in Hong Kong, CLPS Incorporation (the “Company”) (Nasdaq: CLPS) is a global leading information technology (“IT”), consulting and solutions service provider focusing on the banking, insurance and financial sectors. The Company serves as an IT solutions provider to a growing network of clients in the global financial industry, including large financial institutions in the US, Europe, Australia, Southeast Asia and Hong Kong, and their PRC-based IT centers. The Company maintains 18 delivery and/or research & development centers to serve different customers in various geographic locations. Mainland China centers are located in Shanghai, Beijing, Dalian, Tianjin, Baoding, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Suzhou. The remaining eight global centers are located in Hong Kong SAR, USA, UK, Japan, Singapore, Malaysia, Australia, and India. For further information regarding the Company, please visit: http://ir.clpsglobal.com/, or follow CLPS on Facebook, LinkedIn, and Twitter.

Forward-Looking Statements

Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All such statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties related to the Company’s financial and operational performance in the second half and full year of fiscal 2020, its expectations of the Company’s future performance, its preliminary outlook and guidance offered in this presentation, as well as the risks and uncertainties described in the Company’s most recently filed SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Contact: 

CLPS Incorporation
Rhon Galicha
Investor Relations Office 
Phone: +86-182-2192-5378
Email: [email protected]

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SOURCE CLPS

NANPING, China, Jan. 22, 2021 /PRNewswire/ — Happiness Biotech Group Limited (the “Company” or Nasdaq: HAPP), an innovative China-based nutraceutical and dietary supplements producer, today announced its unaudited financial results for the six months ended September 30, 2020 and provided the guidance for the whole fiscal year ending March 31, 2021.

Financial Highlights for the six months ended September 30, 20
20
:

• Revenues decreased by $9.48 million or 30.2%, to $21.88 million for the six months ended September 30, 2020 from $31.36 million for the six months ended September 30, 2019, mainly due to the declining retail market affected by the COVID-19.
• Operating income was $3.69 million for the six months ended September 30, 2020, a decrease of $6.13million, or 62.4% from the prior year period, primarily due to decrease in revenue as a result of sluggish retail market.
• The Company reported $3.18 million of net income attributable to the shareholders, in the six months ended September 30, 2020, compared to net income attributable to the shareholders of $8.42 million in the comparative period.

“The first six months in fiscal year 2020 have been very tough for us as the COVID-19 has hit the whole retail market hardly. The number of tourists dropped dramatically and materially affected our experience stores. In response to the epidemic, we have taken a series of measures, including reducing cost and expenses, increasing subsidies and support for the stores and other sales channels, etc. With the efforts of our team, we successfully maintained a profit for the first half year.” Mr. Xuezhu Wang, CEO of the Company, continued, “We officially launched our e-commerce business in September 2020, and achieved very good results. We expect that we will still achieve growth for the whole fiscal year 2020 ending March 31, 2021, with our sales expected to hit a record high of $70 million, realizing about 10% of annual growth.”

Further information on the Company’s financial results for the six months ended September 30, 2020, including the management’s discussion and analysis of financial condition and results of operations, can be found by visiting EDGAR on the SEC website at www.sec.gov, as well as the Investor Relations page of the Company’s website at www.happ.org.cn.

About Happiness Biotech Group Limited

Headquartered in Nanping, China, Happiness Biotech Group Limited is an innovative China-based nutraceutical and dietary supplements producer focused on the research, development, manufacturing and marketing of a variety of products made from Chinese herbal extracts and other ingredients. The Company’s goal is to provide high-quality products to our consumers. Over the past 14 years, the Company has established a product portfolio consisting of 32 PRC National Medical Products Administration registered “Blue-Cap” SKUs of nutraceutical and dietary supplements products. For more information, please visit: www.happ.org.cn.

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following:  the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China, the COVID-19 outbreak and its impact on our operations and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission.  For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

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SOURCE Happiness Biotech Group Limited

TORONTO, Jan. 22, 2021 /CNW/ – Scotia Global Asset Management today announced a non-cash distribution for certain Scotia Index Tracker ETFs listed on the NEO Exchange. The non-cash distribution, as presented in the table below, will be made to all securityholders of record as at January 29, 2021 payable on February 5, 2021.

Each of the ETFs was considered a “financial institution” for purposes of the “mark-to-market” rules contained in the Income Tax Act (Canada). Each ETF ceased to be a financial institution when not more than 50% of the ETF was held by one or more financial institutions, which resulted in a deemed year-end for tax purposes. Accordingly, each ETF is required to distribute the net income earned and arising from the realization of gains on mark-to-market property held by the ETF at such time to securityholders.  

The distribution will be paid in the form of additional units of the respective ETF. The additional units will be immediately consolidated so that the number of units outstanding following the distribution will equal the number of units outstanding prior to the distribution. Accordingly, each securityholder’s aggregate adjusted cost base of units of the ETF will increase. This non-cash distribution does not include any regular monthly cash distributions that may be payable by these ETFs.

The tax characteristics of the distributions will be reported to CDS Clearing and Depository Services Inc. in early 2022. Securityholders can contact their brokerage firm for this information.

The non-cash distributions amount per unit are:

For more information on the Scotia Index Tracker ETFs, please visit here.

Commissions, management fees and expenses all may be associated with investments in exchange-traded funds (ETFs). Please read the prospectus before investing. The securities held by the ETFs can change at any time without notice. Investments in ETFs are not guaranteed, their values change frequently and past performance may not be repeated.

About Scotia Global Asset Management
Scotia Global Asset Management is a business name used by 1832 Asset Management L.P., a limited partnership, the general partner of which is wholly owned by Scotiabank. Scotia Global Asset Management offers a range of wealth management solutions, including mutual funds, and investment solutions for private clients, institutional clients and managed asset programs.

About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our purpose: “for every future”, we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of over 90,000 employees and assets of approximately $1.1 trillion (as at October 31, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank

SYDNEY, HONG KONG and NEW YORK, Jan. 22, 2021 /PRNewswire/ — Integrated Media Technology Limited (NASDAQ: IMTE) (“IMTE” or the Company), announced on January 19, 2021 changes to its Board with the appointment of Mr. Luis Puyat to its Board of Directors and the change of status of Mr. Uwe Parpart from Independent non-Executive Director to Executive Director.

With effect from January 15, 2021, Mr. Puyat will serve as an Independent non-Executive Director and a member of the Board’s Audit Committee and Remuneration Committee. The size of IMTE’s Board was increased from five to six members with Mr. Puyat’s appointment.

Mr. Puyat is currently the Chief Executive Officer of VGP Investments, Inc. a privately held PE firm based in Makati, Metro Manila. Mr. Puyat is also the Executive Director of privately funded First Sovereign Asset Management, Inc. Prior to this, Mr. Puyat was involved in the Puyat family owned Manila Bank from 1986 to 2007, acting as the president from 1994 to 1999, and as Chairman of the Board from 1999 to 2007.

On the same date, Mr. Uwe Parpart’s status was changed from Independent non-Executive Director to Executive Director. Mr. Parpart also resigned from the Audit Committee.

Mr. Con Unerkov. Chairman and CEO of IMTE, stated, “We are pleased to welcome Mr. Luis Puyat as a new Independent non-Executive Director to the IMTE Board. Mr. Puyat is an accomplished financial executive with over 25 years of relevant experience. He is an ideal addition to IMTE’s team as we continue to drive our business strategy forward especially with our new securities research and risk analysis business in China that was recently announced through an investment in Greifenberg Capital Limited.”.

As announced on December 29, 2020, IMTE entered into an agreement acquiring up to 60% of Greifenberg Capital Limited to provide risk analysis on China’s securities markets. Our Director Mr. Uwe Parpart who has over 30 years of experience as a senior executive in the finance industry will manage the roll out of this business. Accordingly, Mr. Parpart’s status as a Director changes from Independent non-Executive Director to Executive Director.

Mr. Uwe Parpart, IMTE’s new Executive Director commented, “I have known Luis for over three decades. His extensive experience in the banking and asset management industry in Asia will be extremely helpful in guiding our strategic efforts in research and risk analysis for China’s fast-growing securities industry. We are very excited to have Luis join IMTE’s Board of Directors.”

Mr. Puyat commented, “I am familiar with IMTE’s overall business and the new financial services initiative in China. I have known Mr. Parpart for over three decades and collaborated with him on banking ventures on several occasions in the past. I am confident that I can contribute, in particular, to the successful commercialization of IMTE’s securities markets undertaking. I look forward to working with the skilled board of directors as we continue to execute our strategy, drive profitability and enhance value for all our shareholders.”

About Integrated Media Technology Limited

Integrated Media Technology Limited. is engaged in the business of glass-free 3D (also known as autostereoscopic 3D) display, the manufacture and sale of nano coated plates for air filters, the sale of electronic glass and financial research and data services. The three new business operations in air filters, electronic glass and financial research services are expected to form the foundation of our future growth strategy.

For more information, please visitwww.imtechltd.com.

Safe Harbor Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding IMTE’s expectations, intentions, strategies, and beliefs pertaining to future events or future financial performance. Actual events or results may differ materially from those in the forward-looking statements because of various important factors, including those described in the Company’s most recent filings with the SEC. IMTE assumes no obligation to update publicly any such forward-looking statements, whether because of new information, future events or otherwise. For a more complete description of the risks that could cause our actual results to differ from our current expectations, please see the section entitled “Risk Factors” in IMTE’s annual reports on Form 20-F and interim reports on Form 6-K filed with the SEC, as such factors may be updated from time to time in IMTE’s periodic filings with the SEC, which are accessible on the SEC’s website and at http://www.imtechltd.com.

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SOURCE INTEGRATED MEDIA TECHNOLOGY LIMITED

IRVING, Texas, Jan. 22, 2021 /PRNewswire/ — Black Ridge Oil and Gas, Inc. today announced that it has changed its name to Sow Good Inc. to reflect its entrance into the freeze-dried food products market. Additionally, Sow Good’s common shares will now trade under the symbol “SOWG”, replacing the prior symbol of ANFC.

Sow Good is an emerging consumer products platform focused on manufacturing and marketing freeze-dried snacks, smoothies and soups.

“At Sow Good, we’re on a mission to revolutionize food. To fight food waste and food insecurity with products that stay good, are good, taste good and do good,” said Claudia Goldfarb, Chief Executive Officer. “By marrying ethical sourcing with the magic of freeze-drying, we’re able to support the health and wellness of communities, people and the planet.”

Sow Good will launch its line of freeze-dried snacks, smoothies and soups, and its direct-to-consumer focused website, to coincide with initial production from its state-of-the-art facility located in Irving, Texas. Sow Good expects to begin production in the first quarter of 2021. Investors are welcomed to visit www.thisissowgood.com to follow product launch updates.    

Sow Good’s unique food products are targeting the large, and growing, freeze-dried food products market. The global freeze-dried food products market is estimated by Technavio to total nearly $60B in 2020, with the United States representing almost 30% of the total. Technavio further projects market growth to continue at over 8% per year through 2024. 

Sow Good management is well positioned to lead the Company’s growth. As announced in October, Claudia and Ira Goldfarb joined Sow Good as CEO and Executive Chairman, respectively. The Goldfarb’s have extensive experience with freeze-dried manufacturing and in building food product-focused companies. The Company further announced in October that it has appointed Greg Creed, a veteran restaurant executive, to the Company’s Board of Directors. Mr. Creed most recently held the position of CEO of Yum! Brands, Inc., and previously led Taco Bell as its CEO.

No action is needed from current shareholders in relation to the name or ticker symbol change. The common stock will continue to be listed on the OTCQB, with new CUSIP identifier of 84612H106.

Sow Good Inc. (OTCQB:SOWG) is dedicated to producing the highest quality and most nutritious products in the freeze-dried food industry while building a brand that celebrates the importance of sustainability, the environment and our communities.

On October 1, 2020, the Company finalized its acquisition of the freeze-dried food business assets from S-FDF, LLC. Production is expected to begin at the Irving, Texas based 20,000 square foot state-of-the art facility in Q1 of 2021. Additional announcements regarding the Company’s website and product launch will be forthcoming.

Forward Looking Statements
Certain statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties not known or disclosed herein that could cause actual results to differ materially from those expressed herein. These statements may include projections and other “forward-looking statements” within the meaning of the federal securities laws. Any such projections or statements reflect management’s current views about future events and financial performance. No assurances can be given that such events or performance will occur as projected and actual results may differ materially from those projected. Important factors that could cause the actual results to differ materially from those projected include, without limitation, general economic or industry conditions nationally and/or in the communities in which our Company conducts business, conditions of the securities markets, our ability to raise capital or have access to debt financing, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, other economic, competitive, governmental, regulatory and technical factors affecting our Company’s operations, products, services and prices and other risks inherent in the Company’s businesses that are detailed in the Company’s Securities and Exchange Commission (“SEC”) filings. Readers are encouraged to review these risks in the Company’s SEC filings.

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SOURCE Black Ridge Oil & Gas, Inc.; Sow Good Inc.

LONDON, Jan. 22, 2021 /PRNewswire/ — A three-well drill campaign has just been launched by a small-cap explorer in a massive Permian basin that could end up being the next major conventional onshore oil discovery in the world. And everyone’s watching as many names in the oil industry and resource assessment gather around Reconnaissance Energy (RECO; RECAF).  Mentioned in today’s commentary includes:  Exxon Mobil Corporation (NYSE: XOM), Eni S.p.A. (NYSE: E), Halliburton Company (NYSE: HAL), Pioneer Natural Resources Company (NYSE: PXD), Enterprise Products Partners L.P. (NYSE: EPD).

It’s exciting for two reasons. First, there’s no more potentially lucrative risk-reward setup than a small-cap sitting on a high-risk exploration play. Plays like this that succeeded have netted some investors 1,000-4,000% gains in the past. And this play is in Africa, where we’ve seen it happen before: 

• Africa Oil netted well timed investors over 1,000% gains
• Tanganyaika Oil netted investors up to 4,000% gains
• Centurion Energy International netted investors over 1,200% gains.

And those gains were for plays that might in the end pale in comparison to the potential of RECO’s 8.5-million-acre Kavango basin in Namibia and Botswana. RECO’s land package is far bigger and far more consequential, with well-known geoscientists in the industry backing what they think could end up being 120 billion barrels of oil in place. 

Haywood
, which initiated coverage of RECO in November at a $2.50 price target, has now bumped that up to $7.00 in the short term precisely because it knows potential upside when it sees it. 

Big Money Is Looking to Conventional & Loves the Permian

Saudi Arabia’s conventional oil wells are extremely cheap to operate. In fact, the Saudis can produce oil for as low as $3 a barrel. American shale costs many times more to extract, and in some cases up to $73 per barrel. It’s not as simple as drilling a hole in the ground and watching the oil gush out. And while U.S. shale or “unconventional” oil was all the rage behind the boom that ended up making the United States a top producer to challenge even the Saudis, the new rationale is that the next big discovery will have to be conventional–and huge–in order to make economic sense. 

Now, Wood Mackenzie–the most trusted name in resource assessments–says ReconAfrica’s (RECO; RECAF) Kavango Basin is analogous to the Midland Basin in Texas, part of the prolific Permian. Not only that, but Woods Mackenzie  estimates the overall development value of Midland to be $540 billion. 

Texas’ Permian basin boasts one of the world’s thickest deposits of sedimentary rocks,  formed during the Permian geological period. It’s a 250-mile-wide, 300-mile-long sedimentary basin housing the Midland Basin, the Delaware Basin, and the Central Basin Platform across West Texas and Southeast New Mexico. 

It’s produced 28.9 billion barrels of oil and 75 trillion cubic feet of gas, with no sign of letting up. As of the time of writing, the Permian basin is producing over 4 million barrels per day. In 2019, it became the top producer in the world, even outranking the Saudis. And … it’s analogous to Kavango, the next potentially huge conventional oil discovery that we’re about to find out about in a matter of months. 

A 2021 Oil Frenzy Can Only Happen in Africa

It’s generally thought that there’s almost no oil or gas left to discover on land, except in Africa, which remains massively under explored. There aren’t likely to be any more huge discoveries in Nigeria and Angola, Africa’s No. 1 and No.2 producers, respectively, and environmental disasters, corruption, and heavy-handed tax regimes are rendering both increasingly toxic.

Namibia hasn’t produced a single barrel of oil in its history – onshore or offshore. Offshore, Exxon (XOM) has scooped up 7 million net acres …Onshore, Recon Africa (RECO; RECAF) is the superstar–and the only player with significant acreage in the field. That’s because it bought up oil and gas rights to the entire Kavango sedimentary basin from Namibia all the way to Botswana before anyone had time to blink. 

Now, the company is setting itself up for an even bigger potential win than Africa Oil did in a stunning discovery that put Kenya on the oil map back in 2010. When small-cap Africa Oil discovered the East Africa Rift oil, investors saw a 10X windfall right off the bat. 

World-Famous Geochemist Estimates 120 Billion Barrels

The prospects here are so tantalizing that some of the most renowned geoscientists in the world have chimed in. 

Dan Jarvie, one of the original geoscientists that helped locate their claim in Namibia, is a world-renowned geochemist who’s analyzed and interpreted petroleum formations the world over. He was one of the primary drivers behind the exploration of the Barnett resource play and former Chief Geochemist for oil and gas major EOG Resources (one of the largest independent oil producers in North America).

Jarvie recently came out with estimates showing the potential for generation of  120 billion barrels of oil equivalent based only on 12% of Recon’s holdings. He says he’s being conservative. And it’s not just 120 billion barrels to Jarvie: “We could even be looking at the last major onshore oil discovery on Earth.”

Even better: ReconAfrica (RECO; RECAF) still has plenty of cash on hand to complete their drill program – and with a massive 8.5-million-acre land package, it’s also got plenty of promising targets to choose from.

With the first test well already spudded, and drilling operations now underway as of today, by mid-February, we could already see them reach a depth of 12,000 feet. Next comes 2D seismic acquisition and interpretation in Q2 2021, followed by 6-2 well evaluation and drilling of two other back-to-back wells in the same quarter. 

By the second half of next year if everything goes to plan, it’s likely RECO will already be in JV discussions if drilling goes as planned. RECO just went one step closer to de-risking a “massive potential resource”, according to Haywood. In a few weeks, early-in investors will find out, and it will be on everyone’s radar. 

Big Oil Could Benefit From The Price Rebound

Exxon (XOM) has been desperately pulling on all the levers in a bid to get through the oil slump with its dividend intact but could be running out of options. Exxon has announced that it will cut 15% of its workforce in order to protect its fat dividend (10.6% yield) and also slash capital expenditure–again.

Like many of its peers, ExxonMobil has also shed nearly half of its value since the beginning of 2020. Despite this, Exxon has been making big moves in the energy realm, and is positioning itself perfectly to capitalize on the rebound in oil prices, as well as the global pivot to natural gas, in the coming years.

Italian energy major, Eni (E), described 2020 as a “year of war”, regarding the energy crisis experienced in the face of a global pandemic. But it may be too soon to see the issues faced last year as a thing of the past.  Eni is committing to lower the price of oil at which the company breaks even going into 2021, as a means of tackling the uncertainty of the oil economy in the coming months. Francesco Gattei, CFO at Eni, stated that “Volatility is growing every year.”, highlighting the need to be prepared for the energy demand of the future. In fact, Eni has now set out a plan to lower its greenhouse gas emissions by 80% by 2050. 

Like other oil majors, Eni’s share price took a major beating in 2020, falling by as much as 30% over the course of the year. But thanks to recovering demand and its diversification efforts, Eni is looking more and more appealing to investors.

Halliburton (HAL) is one of the largest oilfield services companies in the world. The company has secured its place as a giant in the oil and gas industry. But it didn’t happen overnight. The oilfield services sector is highly competitive and ripe with innovation. In order to stay ahead, companies must be on the absolute cutting edge of technology. And that‘s exactly what Halliburton has done. And recently, Halliburton increased the heat for its competition. Partnering with Microsoft, Halliburton has become one of the most exciting “tech” plays in the industry.

The oilfield services sector was among the hardest hit in the 2020 oil price disaster, and Halliburton was not immune to its impact. The company saw its share prices crater, falling by 79% from January to March. The hit definitely stung, but Halliburton rose to the challenge. Thanks to its strong management and innovative approach to the industry, the company’s stock managed to stage a fairly impressive recovery, climbing from $5 in March to today’s price of $20, proving that it’s still got what it takes to remain competitive in this industry.

Pioneer Natural Resources (PXD) was one of the big—and few—dealmakers of 2020, acquiring Parsley Energy for about $7.6 billion in an all-stock deal that also included Parsley’s debt. The landmark deal helped make Texas-based Pioneer the largest independent oil and gas producer in the Permian Basin. Having worked together previously, the merger expects significant savings and greater pressure on regulators in the region. Working in the Permian Basin, the world’s most prolific oilfield with a production of 558,000 bpd equivalent, Pioneer hopes this will ensure it rides out the Covid-19 slump.

But that doesn’t mean investors shouldn’t keep an eye on the company. Share prices of Pioneer have nearly doubled since November, climbing from $77 per share to today’s price of $132.  And while outlook for the shale patch isn’t particularly inspiring at the moment, Pioneer is an undervalued stock in an industry that will inevitably return to its previous glory.

Enterprise Products Partners (EPD) is the top transporter of natural gas liquids (NGLs) and also owns the most NGL fractionation capacity in the United States, as well as dock space for exports. Enterprise Products is the largest midstream MLP in the country. Enterprise has clearly read the signs of the times and has begun to work with partners to scale back its project backlog. In the past, EP was able to weather the normal industry headwinds thanks to robust cash coverage and manageable leverage. Unfortunately, Covid-19 has been anything but your average downturn, and EP has been forced to seriously cut back on Capex.

Despite the downturn, which saw Enterprise lose as much as 30% of its value in 2020, things are already looking up for the company. Its dividend distribution is still attractive to investors at 8.6%, its cash flow is sustainable, and its fiscal expectations look promising. Altogether, that puts Enterprise in an attractive position for investors looking for potentially undervalued stocks as oil prices stage a comeback.

By. Polly Steele

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Forward-Looking Statements. Statements contained in this document that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of Recon. All estimates and statements with respect to Recon’s operations, its plans and projections, size of potential oil reserves, comparisons to other oil producing fields, oil prices, recoverable oil, production targets, production and other operating costs and likelihood of oil recoverability are forward-looking statements under applicable securities laws and necessarily involve risks and uncertainties including, without limitation: risks associated with oil and gas exploration, timing of reports, development, exploitation and production, geological risks, marketing and transportation, availability of adequate funding, volatility of commodity prices, imprecision of reserve and resource estimates, environmental risks, competition from other producers, government regulation, dates of commencement of production and changes in the regulatory and taxation environment. Actual results may vary materially from the information provided in this document, and there is no representation that the actual results realized in the future will be the same in whole or in part as those presented herein. Other factors that could cause actual results to differ from those contained in the forward-looking statements are also set forth in filings that Recon and its technical analysts have made, We undertake no obligation, except as otherwise required by law, to update these forward-looking statements except as required by law.

Exploration for hydrocarbons is a speculative venture necessarily involving substantial risk. Recon’s future success will depend on its ability to develop its current properties and on its ability to discover resources that are capable of commercial production. However, there is no assurance that Recon’s future exploration and development efforts will result in the discovery or development of commercial accumulations of oil and natural gas. In addition, even if hydrocarbons are discovered, the costs of extracting and delivering the hydrocarbons to market and variations in the market price may render uneconomic any discovered deposit. Geological conditions are variable and unpredictable. Even if production is commenced from a well, the quantity of hydrocarbons produced inevitably will decline over time, and production may be adversely affected or may have to be terminated altogether if Recon encounters unforeseen geological conditions. Adverse climatic conditions at such properties may also hinder Recon’s ability to carry on exploration or production activities continuously throughout any given year.

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TOLEDO, Ohio, Jan. 22, 2021 /PRNewswire/ — Welltower Inc. (NYSE: WELL) today announced that it will release fourth quarter 2020 financial results after the close of trading on the New York Stock Exchange on Tuesday, February 9, 2021. The Company will host a conference call and webcast on Wednesday, February 10, 2021 at 9:00 a.m. Eastern Time to discuss these results. The Company’s earnings release will be available in the Investors section of the Company’s website.

Investors and other interested parties may access the conference call in the following ways:

• At the Company’s website: www.welltower.com. Via webcast: https://edge.media-server.com/mmc/p/emwvs3zw. A webcast replay will be available approximately two hours after the conclusion of the conference call and will be available for 90 days. Joining via webcast is recommended for those who will not be asking questions.
• By telephone: The United States dial-in number is (844) 467-7115. The international dial-in number is (409) 983-9837. The conference ID number is 8581528. All phone participants are asked to dial in 15 minutes prior to the start of the call to ensure connectivity.
• A replay of the conference call will be available beginning at approximately 1:00 p.m. Eastern Time on February 10th, 2021 and ending on February 24, 2021. The replay dial-in number for U.S. participants is (855) 859-2056. For international participants, the replay dial-in is (404) 537-3406. The replay conference ID number is 8581528.

About Welltower

Welltower Inc. (NYSE: WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The Company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people’s wellness and overall health care experience. Welltower^®, a real estate investment trust (“REIT”), owns interests in properties concentrated in major, high-growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing, post-acute communities and outpatient medical properties. More information is available at www.welltower.com.

 

 

 

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SOURCE Welltower Inc.