Latest news with #Clearview
CTV News
2 days ago
- CTV News
Fatal collision in Feversham kills two people
OPP logo with cruiser lights on in this undated file image. Thu., July 10, 2025. PHOTO: OPP A serious collision in Feversham resulted in two fatalities. Officers responded to a head-on collision at 10 a.m. in Feversham involving two pick-up trucks on Grey Road 31. Both drivers, a 22-year-old male from Southgate and a 59-year-old man from Clearview were killed. A passenger was brought to the hospital with life-threatening injuries. The investigation remains ongoing, and police are for information or video footage from the public.
Tahawul Tech
12-07-2025
- Automotive
- Tahawul Tech
Zebra Technologies and Clearview launch Industrial Automation Centre of Excellence
New resource provides innovative training for machine builders, systems integrators, and customers. Zebra Technologies Corporation, a global leader in digitising and automating frontline workflows, today announced the launch of the Industrial Automation Centre of Excellence by Zebra and Clearview, a Zebra industrial automation distributor. Situated in the UK's thriving innovation district of Oxfordshire, the centre will be a resource offering relevant services, training, advisory, and practical demonstrations for manufacturing and logistics organisations and machine vision specialists across the EMEA region. The centre will support end users, machine builders, and systems integrators looking for machine vision, 3D, and AI solutions needed to secure greater asset visibility and support intelligently automated operations. 'Automotive, electric battery, electronics and semiconductor manufacturers and logistics organisations face new quality, compliance and safety challenges, requiring frontline engineers, machine builders and systems integrators to think and act in new ways,' said Donato Montanari, Vice President and General Manager, Machine Vision, Zebra Technologies. 'A professional network is essential to help industry stakeholders explore how technologies like AI and 3D can work in tandem to meet operational goals and support future-ready growth.' Fifty-four percent of European manufacturers expect AI to drive growth by 2029, according to Zebra's Manufacturing Vision Study. However, 84% say they are struggling to keep up with the pace of new technology, with quality management issues like real-time visibility, keeping up with new standards and regulations, integrating data and maintaining traceability among their top quality management issues. Training and upskilling courses will cover machine vision fundamentals and more advanced approaches for application and vertical-specific use cases, as nearly three-quarters of manufacturing leaders (71%) plan to reskill their workers to enhance data and technology usage skills. With the centre's problem-solving focus, Zebra customers and their machine vision specialists can bring in their own machine vision proof-of-concept applications and receive a highly valuable, independent specialist feasibility report and recommendation. The centre also aims to be a place of networking and confidence-building by sharing expertise, thought leadership, and events to connect organisations and machine vision specialists. New relationships will be forged at a time when new thinking and collaboration are needed, and businesses look to turn technology investments into value drivers. 'This is an important step forward for the machine vision industry and the customers we support, bridging the gap between the technology and user knowledge, and helping to create the best solutions available,' said Allan Anderson, Managing Director and Founder, Clearview, which has offices in England, France, Spain, and Germany. 'We are on a mission to democratise machine vision, and with our team of certified machine vision professionals, training courses, engineering services, and state-of-the-art HQ and centre of excellence, we can help customers create great vision systems.'
Yahoo
04-07-2025
- General
- Yahoo
Aussie homeowner 'frightened' to go into her garden following council's gumtree decision
Gum trees are an iconic feature on suburban streets across Australia. But while they're stunning to look at, a pair of the large native trees has 84-year-old Shirley Handke afraid to go outside. Shirley, whose home sits next to two 25-metre tall trees in the Adelaide suburb of Clearview, says she's witnessed several branches fall in front of her eyes from the council trees out front. "I was out there a few times and I just moved when they fell," Shirley told The Advertiser. "If I had been there, they would have killed me." Now she is "frightened" to enjoy her garden because of the danger posed by falling branches. The issue was reported to Port Adelaide Enfield Council by residents on the street of Melrose Avenue earlier this year, and it's understood an independent evaluation was carried out by two separate arborists. But the report found a low risk of branch failure, and the council refused to remove the trees as it did not meet its removal criteria. Shirley isn't the only resident to complain about the trees. Neighbour Vikash Patel reported earlier this year he feared for the safety of his children, describing the trees as "dangerous". In response to the decision not to remove the trees, Councillor Barbara Clayton argued that "even low risk is still a risk". At an Ordinary Council Meeting in May, Clayton said the arborist report "doesn't give these residents any assurance". She pointed out that the trees would "never" be planted on a verge in accordance with current council policy. "There is no doubt these trees provide canopy cover, however, removing these dangerous and inappropriate trees and replacing them with a more suitable variety would also contribute to our canopy cover," she argued. "We should not be exposing our community to risk — because even low risk is still a risk." Yahoo contacted the council for comment, but did not receive a response by the time of publication. It's understood council actively monitors trees on public land and takes action if deemed unsafe. 🌳 Simple solution could save tree Aussie council claims is 'serious risk to public' 🏡 Aussie man locked in $100k battle with council over front yard tree complaint 🌸 Warning to remove 'pretty but invasive' plant taking over Aussie gardens Reports of dangerous trees across the state have seen a "sharp rise" in recent years. Snap Send Solve CEO Danny Gorog told Yahoo News, "People are taking action to prevent dangerous situations before they happen". In 2024, the council reporting app saw 8,000 tree issues reported for South Australia. So far this year, reports are already at 4,700, with two more months of South Australia's winter storm season still to come. Every report plays a role in keeping streets, parks, and public spaces safe, he said. But large trees are increasingly rare in urban environments, and while many are reporting their risks and dangers, others are fighting to save our dwindling tree canopy. In the Melbourne suburb of Thornbury, local resident Rebecca Hart is working to save two twin sugar gums, estimated to be over a century old. Meanwhile, in Sydney, Randwick City Council backflipped on a controversial plan to remove a large 80-year-old weeping fig after public backlash. Do you have a story tip? Email: newsroomau@ You can also follow us on Facebook, Instagram, TikTok, Twitter and YouTube.
Forbes
10-06-2025
- Politics
- Forbes
The Wiretap: Facial Recognition, Amazon Ring, And Surveillance Of The LA Protests
The Wiretap is your weekly digest of cybersecurity, internet privacy and surveillance news. To get it in your inbox, subscribe here. The protests in LA are being captured by all manner of surveillance devices. But federal and local police have different restrictions on what they can do with the footage (Photo by) 'I have all of you on camera. I'm going to come to your house.' Those were the words coming from an LAPD officer in a helicopter over LA protestors, according to the LA Times. The implicit threat, according to some privacy advocates, was that the cops would use facial recognition software to identify and locate those protesting Immigration and Customs Enforcement (ICE) raids. It's not quite so easy to do that, though. A source close to the agency, who was not authorized to talk on record, told Forbes that LAPD will be going through camera footage - whether shot from a helicopter, surveillance cams or bodycams - and try to identify people. However, the LAPD can only search for matches from police-owned arrest records, namely, mugshots. Its own rules don't allow it to search for matches across other sources, such as social media. Federal agents, however, don't have the same restrictions. Any federal agent using Clearview or an alternative can take the same footage and run facial images to find matches across photos scraped from social sites. One of Clearview's best-known federal customers is ICE, which typically uses it in child exploitation cases. It's unclear how often the agency uses it for immigration enforcement. Neither ICE nor the LAPD had responded to requests for comment at the time of publication. Law enforcement has another potential source for protest footage: video from Amazon Ring cameras or its competitors. Though Amazon has stopped cops requesting information directly over the Ring Neighbours social platform, federal and local cops can demand data recorded by those devices with a court order. The video could then be used to identify protestors. While the source close to LAPD said they weren't aware of any specific uses of Ring around this week's events, they said it's certainly a capability that exists. Meanwhile, concerned citizens have also been using Neighbors to share footage of ICE raids and agents in the L.A. area, either to warn about them or to celebrate the actions. In footage from Monday, identified by a Forbes' reporter, a Ring user shared footage they claimed showed ICE targeting laborers at a local Home Depot. Another warned about ICE agents at a mall and a Costco. Amazon Ring didn't comment on record, though a spokesperson pointed Forbes to guidelines that prohibit users posting on 'topics that cause inevitable frictions like politics and election information,' as well as 'highly debated social issues.' Its moderators might be busier than normal this week. Got a tip on surveillance or cybercrime? Get me on Signal at +1 929-512-7964. DOGE pre-Elon Musk's departure and break up with President Trump. (Photo by) The Supreme Court has given a green light to the Department of Government Efficiency to access Social Security Administration data. The decision came after the Trump administration had filed an emergency application to lift an injunction from a federal judge in Maryland. In its decision, the Supreme Court said DOGE staff needed the access to do their job. While the White House cheered the decision as a victory for fighting fraud and waste in federal agencies, opponents said the ruling 'will enable President Trump and DOGE's affiliates to steal Americans' private and personal data.' A cyber researcher found a way to identify phone numbers linked to any Google account. Google has since fixed the issue, which may have exposed users to SIM swapping scams. The DOJ has launched an offensive on the dark web marketplace BidenCash, where users buy and sell stolen credit card and personal information. The agency has taken down 145 domains across both the standard web and the darknet associated with the bazaar. The service has so far generated over $17 million in revenue, according to Justice officials. A man who controls much of the infrastructure that underpins Telegram also controls other companies with links to Russian intelligence agency FSB, according to an investigation by the Organized Crimes and Corruption Reporting Project's Russian partner, Important Stories. Telegram has not responded to the allegations. The Guardian has launched a new way to tip its reporters securely with an app simply called 'Secure Messaging.' It sounds pretty neat: 'The technology behind Secure Messaging conceals the fact that messaging is taking place at all by making the communication indistinguishable from other data sent to and from the app by our millions of regular users. By using the Guardian app, other users are effectively providing 'cover' and helping us to protect sources.' President Trump has been unsurprisingly careless with his personal iPhone, taking calls from numbers he doesn't recognize. That's despite repeatedly being warned about the heightened risks of foreign surveillance and interception that come with using a device with a 'broadly circulated number,' according to a report in The Atlantic.
Yahoo
29-05-2025
- Business
- Yahoo
CLEARVIEW REPORTS 2025 FIRST QUARTER RESULTS AND VOTING RESULTS FROM ANNUAL GENERAL AND SPECIAL MEETING
CALGARY, AB, May 29, 2025 /CNW/ - Clearview Resources Ltd. ("Clearview" or the "Company") is pleased to announce its financial and operational results for the three months ended March 31, 2025. FINANCIAL AND OPERATING HIGHLIGHTS FinancialThree months ended ($ thousands except per share amounts) Mar. 31 2025 Mar. 31 2024 % Change Oil and natural gas sales 4,992 5,530 (10) Adjusted funds flow (1) 679 1,179 (42) Per share – basic (2) 0.06 0.10 (40) Per share – diluted (2) 0.06 0.10 (40) Cash provided by operating activities 1,701 1,198 42 Per share – basic 0.14 0.10 40 Per share - diluted 0.14 0.10 40 Net earnings (loss) (1,016) (1,092) (7) Per share – basic (0.09) (0.09) - Per share - diluted (0.09) (0.09) - Net (debt) surplus (1) 2,981 3,339 (11) Average shares outstanding 11,801 11,763 - (1) "Adjusted funds flow" and "net debt" are capital management measures that do not have any standardized meaning as prescribed by IFRS Accounting Standards and, therefore, may not be comparable with the calculations of similar measures of other entities. See "Non-IFRS Measures" contained within this press release. (2) Supplementary financial measure that does not have any standardized meaning as prescribed by IFRS Accounting Standards and, therefore, may not be comparable with the calculations of similar measures of other entities. See "Non-IFRS Measures" contained within this press release. ProductionThree months endedMar. 31 2025 Mar. 31 2024 % Change Oil – bbl/d 354 361 (2) Natural gas liquids – bbl/d 335 431 (22) Total liquids – bbl/d 689 792 (13) Natural gas – mcf/d 4,199 5,048 (17) Total – boe/d 1,389 1,634 (15) Realized sales prices (1)Three months endedMar. 31 2025 Mar. 31 2024 % Change Oil – $/bbl 91.41 88.80 3 NGLs – $/bbl 39.16 38.02 3 Natural gas – $/mcf 2.37 2.44 (3) Total – $/boe 39.93 37.19 7 (1) Supplementary financial measure that does not have any standardized meaning as prescribed by IFRS Accounting Standards and, therefore, may not be comparable with the calculations of similar measures of other entities. See "Non-IFRS Measures" contained within this press release. Netback analysis (1)Three months ended Barrel of oil equivalent ($/boe) Mar. 31 2025 Mar. 31 2024 % Positive(Negative) Realized sales price 39.93 37.19 7 Royalties (3.83) (4.48) 15 Processing income 0.41 1.13 (64) Transportation (2.36) (2.15) (10) Operating (22.75) (20.10) (13) Operating netback (2) 11.40 11.59 (2) Realized gain (loss) – financial instruments - 1.56 (100) General and administrative (5.97) (4.71) (27) Cash finance costs (2) 0.01 (0.51) 102 Corporate netback (2) 5.44 7.93 (31) (1) % Positive (Negative) is expressed as being positive (better performance in the category) or negative (reduced performance in the category) in relation to operating netback, corporate netback and net earnings. (2) Non-IFRS measure or ratio that does not have any standardized meaning as prescribed by IFRS Accounting Standards and, therefore, may not be comparable with the calculations of similar measures or ratios of other entities. See "Non-IFRS Measures" contained within this press release. FINANCIAL AND OPERATIONAL RESULTS Production for the three months ended March 31, 2025 was down 15% to an average of 1,389 boe/d versus the comparative first three months of 2024 at 1,634 boe/d. The decrease was primarily due to lower natural gas production as a result of normal declines, production back-out, third party infrastructure maintenance and miscellaneous well downtime due to very cold weather in February. Lower natural gas production led to reduced natural gas liquids volumes being produced as well due to the liquids-rich nature of the Company's natural gas production. These decreases were partially offset by the acquisition in the second quarter of 2024 of low decline oil production. Adjusted funds flow(1) for the three months ended March 31, 2025 was $0.7 million ($0.06 per basic share(3)), a decrease of 42% compared to 2024. Capital expenditures(2) for the first quarter of 2025 were $1.2 million, primarily on the construction of a compressor project in the Northville area. The Company also paid a distribution of $1.8 million to its shareholders as a return of capital in the quarter. Clearview had a net surplus outstanding of $3.0 million at March 31, 2025, which included cash on hand of $5.3 million, a working capital deficit of $1.1 million, no borrowings from its lender and the Company's convertible debentures of $1.2 million. Clearview's net surplus decreased from $5.2 million at December 31, 2024, as a result of the distribution paid to shareholders in March 2025 and capital expenditures in the first quarter of 2025 being greater than adjusted funds flow. Notes (1) Capital management measure that does not have any standardized meaning as prescribed by IFRS Accounting Standards and, therefore, may not be comparable with the calculations of similar measures of other entities. See "Non-IFRS Measures" contained within this press release. (2) Non-IFRS measure or ratio that does not have any standardized meaning as prescribed by IFRS Accounting Standards and, therefore, may not be comparable with the calculations of similar measures or ratios of other entities. See "Non-IFRS Measures" contained within this press release. (3) Supplementary financial measure that does not have any standardized meaning as prescribed by IFRS Accounting Standards and, therefore, may not be comparable with the calculations of similar measures of other entities. See "Non-IFRS Measures" contained within this press release. OPERATIONS Production in the first quarter of 2025 averaged 1,389 boe/d and was negatively impacted by production freeze-offs during the bitter cold temperatures experienced in February, as well as production back-out at Northville. Production downtime experienced in the first quarter of 2025 was approximately 140 boe/d. As a result of the disposition of certain underutilized infrastructure assets in the second quarter at its 100% owned Northville property in West Central Alberta for gross proceeds of $10.8 million, the Company commenced infrastructure modifications in the third quarter of 2024 for some of its natural gas production in the area. This was the first of three projects related to a low-pressure inlet to ensure Clearview's ability to produce its natural gas at Northville, partially mitigating the previously mentioned production back-out. The Company commenced construction activities on the 100% owned low-pressure inlet compression project in the first quarter of 2025 and commissioned the unit in late April 2025. The third and final field booster compression project was commissioned in mid-May. All projects were completed on time and on budget. Following the completion of infrastructure maintenance on the Nova Gas Transmission system in April and May of 2025, impacting available capacity for the Company's Northville and Pembina properties, corporate production over the past two weeks has averaged approximately 1,600 boe/d based on field estimates. ANNUAL GENERAL AND SPECIAL MEETING Clearview is also pleased to announce that all resolutions presented for approval at the annual general and special meeting of shareholders held on May 28, 2025 (the "Meeting") were duly passed. Each of the matters voted upon at the Meeting was set forth in the Company's management information circular dated April 28, 2025 (the "Circular"). Election of Directors At the Meeting, the six nominees listed in the Circular were elected as directors of the Company to serve until the next annual meeting of the shareholders or until their successors are duly elected or appointed. The voting results were as follows: Nominee Votes For Votes Withheld Rod Hume 8,491,040 253,818 David Vankka 8,491,040 253,818 Bruce Francis 8,557,376 187,482 Edward (Ted) McFeely 8,660,603 84,255 Steven Glover 8,644,841 100,017 Craig Hauer 8,644,841 100,017 Appointment of Auditor Deloitte LLP, Chartered Professional Accountants, were appointed to serve as auditor of the Company for the ensuing year, and the directors were authorized to fix their remuneration, with the voting results as follows: Votes For Votes Withheld 8,618,979 125,879 Advance Notice Bylaw By way of ordinary resolution, the shareholders approved Clearview's advance notice bylaw at the Meeting, with the voting results as follows: Votes For Votes Against 8,312,117 432,741 STRATEGIC REPOSITIONING PROCESS Clearview continues to work with its financial advisor, ATB Securities Inc., in connection with its strategic repositioning process ("Strategic Process") announced on March 25, 2025. The Company does not intend to comment further with respect to the Strategic Process unless and until it determines that additional disclosure is appropriate in the circumstances and in accordance with applicable securities laws. Clearview also cautions that there are no guarantees that the Strategic Process will result in any particular transaction, which may include, but are not limited to, a corporate sale, a corporate merger or takeover, public listing of shares, asset dispositions or an asset acquisition or reorganization. The Company will continue to operate its business as usual as it undertakes this Strategic Process. Clearview would like to thank its shareholders for their continued support as we evaluate our internal development plans and external opportunities to grow production volumes and adjusted funds flow towards providing liquidity for shareholders. Clearview's March 31, 2025 interim financial statements and management's discussion and analysis are available on the Company's website at and SEDAR+ at FOR FURTHER INFORMATION PLEASE CONTACT: CLEARVIEW RESOURCES LTD.1350, 734 – 7th Avenue S.W., Calgary, Alberta T2P 3P8 Telephone: (403) 265-3503 Facsimile: (403) 265-3506 Email: info@ Website: ROD HUME BRIAN KOHLHAMMER President & CEO V.P. Finance & CFO Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements and forward-looking information (collectively "forward-looking information") within the meaning of applicable securities laws relating to the Company's plans and other aspects of our anticipated future operations, management focus, strategies, financial, operating and production results, industry conditions, commodity prices and business opportunities. Specifically, forward-looking information in this press release may include, but is not limited to: expectations concerning Clearview's future plans, expectations regarding the strategic repositioning process, including the timing and results thereof, and expectations concerning anticipated pricing trends, growth opportunities, and market conditions. Forward-looking information typically uses words such as "anticipate", "believe", "project", "expect", "goal", "plan", "intend" or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future, although not all forward-looking information contain these identifying words. Statements relating to "reserves" are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described can be profitably produced in the future. The forward-looking information is based on certain key expectations and assumptions made by our management, including expectations and assumptions concerning prevailing commodity prices and differentials, exchange rates, applicable royalty rates and tax laws; the impact government assistance programs will have on the Company; the impact on energy demands going forward and the inability of certain entities, including actions of OPEC and OPEC+ members, trade relations and tariffs; the impact on commodity prices, production and cash flow due to production shut-ins; future exchange rates; future debt levels; the availability and cost of financing, labour and services; the impact of increasing competition and the ability to market oil and natural gas successfully and our ability to access capital. Although Clearview believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Clearview can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature, such information involves inherent risks and uncertainties which could include the possibility that Clearview will not be able to execute some or all of its ongoing programs; general economic and political conditions in Canada, the U.S. and globally, and in particular, the effect that those conditions have on commodity prices and our access to capital; further fluctuations in the price of crude oil, natural gas liquids and natural gas; fluctuations in foreign exchange or interest rates; adverse changes to differentials for crude oil and natural gas produced in Canada as compared to other markets and worsened transportation restrictions. These and other risks are set out in more detail in Clearview's Annual Information Form for the year ended December 31, 2024, available on SEDAR+ at Our actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that we will derive therefrom. Management has included the above summary of assumptions and risks related to forward-looking information provided in this press release in order to provide shareholders with a more complete perspective on our future operations, and such information may not be appropriate for other purposes. Readers are cautioned that the foregoing lists of factors are not exhaustive. These forward-looking statements are made as of the date of this press release, and we disclaim any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. Non-IFRS Measures Throughout this press release and other materials disclosed by the Company, Clearview uses certain measures to analyze financial performance, financial position and cash flow. These non-IFRS and other financial measures do not have any standardized meaning prescribed under IFRS and, therefore, may not be comparable to similar measures presented by other entities. The non-IFRS and other financial measures should not be considered alternatives to, or more meaningful than, financial measures that are determined in accordance with IFRS as indicators of Clearview's performance. Management believes that the presentation of these non-IFRS and other financial measures provides useful information to shareholders and investors in understanding and evaluating the Company's ongoing operating performance, and the measures provide increased transparency and the ability to better analyze Clearview's business performance. Capital Management Measures Adjusted Funds Flow Adjusted funds flow represents cash provided by operating activities before changes in operating non-cash working capital and decommissioning expenditures. The Company considers this metric as a key measure that demonstrates the ability of the Company's continuing operations to generate the cash flow necessary to maintain production at current levels and fund future growth through capital investment, to repay debt and return capital to shareholders. Management believes that this measure provides an insightful assessment of the Company's operations on a continuing basis by eliminating the actual settlements of decommissioning obligations, the timing of which is discretionary. Adjusted funds flow should not be considered as an alternative to or more meaningful than cash provided by operating activities as determined in accordance with IFRS as an indicator of the Company's performance. Clearview's determination of adjusted funds flow may not be comparable to that reported by other companies. Clearview also presents adjusted funds flow per share whereby per share amounts are calculated using weighted average shares outstanding consistent with the calculation of earnings per share. Please refer to Note 15(d) "Capital Management" in Clearview's March 31, 2025 interim financial statements for additional disclosure on Adjusted Funds Flow. Net Debt Clearview closely monitors its capital structure with a goal of maintaining a strong balance sheet to fund the future growth of the Company. The Company monitors net debt as part of its capital structure. The Company uses net debt (current assets, excluding financial derivatives, less current liabilities, excluding financial derivatives, less convertible debentures) to assess financial strength, capacity to finance future development and to assist in assessing the liquidity of the Company. Please refer to Note 15(d) "Capital Management" in Clearview's March 31, 2025 interim financial statements for additional disclosure on Net Debt. Non-IFRS Measures and Ratios Capital Expenditures Capital expenditures equal additions to property, plant & equipment and additions to exploration & evaluation assets. Clearview considers capital expenditures to be a useful measure of adjusted funds flow used for capital reinvestment. The most directly comparable IFRS measure to capital expenditures is additions to property, plant & equipment and additions to exploration & evaluation assets. Cash Finance Costs Cash finance costs is calculated as finance costs less accretion of decommission obligations and accretion of convertible debenture discount. The most directly comparable IFRS measure to cash finance costs is finance costs. A reconciliation of cash finance costs to finance costs is set out below: Three months ended ($ thousands)Mar. 31 2025 Mar. 31 2024Finance costs152 215Accretion of decommissioning obligations and convertible debentures(153) (139)Cash finance costs(1) 76 Cash Finance Costs per boe Cash finance costs per boe is calculated by dividing cash finance costs by total production volumes sold in the period. Management considers cash finance costs per boe an important measure to evaluate the Company's cost of debt financing relative to the Company's corporate netback per boe. Operating Netback per boe Operating netback per boe is calculated by dividing operating netback by total production volumes sold in the period. Operating netback equals oil and natural gas sales plus processing income, less royalties, transportation expenses and operating expenses. Management considers operating netback per boe an important measure to evaluate its operational performance as it demonstrates its field level profitability relative to current commodity prices. Corporate Netback per boe Corporate netback per boe is calculated as operating netback less general and administrative expenses and finance costs, plus/(minus) realized gains (losses) on financial instruments, minus (plus) other costs (income), plus accretion of decommissioning obligations and convertible debentures divided by total production volumes sold in the period. Management considers corporate netback per boe an important measure to assist management and investors in assessing Clearview's overall cash profitability. Supplementary Financial Measures Adjusted funds flow per share is comprised of adjusted funds flow divided by the basic weighted average common shares. Adjusted funds flow per diluted share is comprised of adjusted funds flow divided by the diluted weighted average common shares. Realized sales price – oil is comprised of light crude oil commodity sales from production, as determined in accordance with IFRS, before deduction of transportation costs and excluding gains and losses on financial instruments, divided by the Company's oil production. Realized sales price – ngl is comprised of natural gas liquids commodity sales from production, as determined in accordance with IFRS, before deduction of transportation costs and excluding gains and losses on financial instruments, divided by the Company's ngl production. Realized sales price – natural gas is comprised of natural gas commodity sales from production, as determined in accordance with IFRS, before deduction of transportation costs and excluding gains and losses on financial instruments, divided by the Company's natural gas production. Realized sales price – total is comprised of oil and natural gas sales from production, as determined in accordance with IFRS, before deduction of transportation costs and excluding gains and losses on financial instruments, divided by the Company's total production on a boe basis. Oil and Gas Advisories This press release contains certain oil and gas metrics which do not have standardized meanings or standard methods of calculation and, therefore, such measures may not be comparable to similar measures used by other companies and should not be used to make comparisons. Such metrics have been included in this document to provide readers with additional measures to evaluate our performance; however, such measures are not reliable indicators of our future performance, and future performance may not compare to our performance in previous periods and therefore, such metrics should not be unduly relied upon. Specifically, this press release contains the following metrics: Boe means barrel of oil equivalent on the basis of 6 mcf of natural gas to 1 bbl of oil. The term "boe" may be misleading, particularly if used in isolation. A boe conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In addition, given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6: 1, using a conversion on a 6: 1 basis may be misleading as an indication of value. Abbreviations Bbl barrel Boe barrel of oil equivalent Mbbl thousands of barrels Mboe thousands of barrels of oil equivalent MMboe million barrels of oil equivalent mcf thousand cubic feet MMbtu millions of British thermal units MMcf million cubic feet SOURCE Clearview Resources Ltd. View original content to download multimedia:
