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News Article | May 4, 2017
Site: worldmaritimenews.com

The US Federal Maritime Commission (FMC) rejected on jurisdictional grounds the Tripartite Agreement to form a joint container shipping service submitted for approval by the Japan’s big three carriers in March 2017. The Commission determined that parties to the Tripartite Agreement, Kawasaki Kisen Kaisha (K Line), Mitsui O.S.K. Lines (MOL), and Nippon Yusen Kabushiki Kaisha (NYK Line), were ultimately establishing a merged, new business entity and that action “is among the type of agreements excluded from FMC review” as the Shipping Act does not provide the Federal Maritime Commission with authority to review and approve mergers. K Line, MOL, and NYK were seeking authority to share information with each other in advance of a new business entity being formed under the agreement next year. Absent FMC’s latest vote, or a Request for Additional Information, the agreement would have gone into effect on May 8. The three companies unveiled their intentions to establish a joint venture in October 2016 to merge their container liner shipping business, and their container terminal services businesses outside Japan. The parties also provide logistics services, bulk shipping, car transport, and liquid transport, through their subsidiaries. However, such services will continue to be conducted by the companies separately and independently from each other and the JV. In March 2017, the parties received an approval for their joint venture from the Competition Commission of Singapore (CCS), which informed that the only overlapping service that would affect Singapore is the provision of container liner shipping services. They jointly applied for a decision by CCS on whether the creation of the JV would infringe the prohibition in the Competition Act against anti-competitive mergers. CCS concluded that the move, if carried into effect, “will not infringe the prohibition in the Act against anti-competitive mergers.” The parties earlier said that the new joint-venture company would operate a fleet totaling 1.4 million TEUs, placing the new company as sixth in the market with approximately 7% of global share. K Line and MOL, which will each hold 31 percent, and their compatriot NYK Line, which will hold the remaining 38 percent, in October informed that they plan to establish the new company on July 1, 2017, while business commencement was expected to start as of April 1, 2018.


VANCOUVER, BC / ACCESSWIRE / May 4, 2017 / Molori Energy Inc. (TSXV: MOL) (OTCQB: MOLOF) ("Molori" or the "Company") is pleased to provide an operational and National Instrument 51-101 reserve report ("NI 51-101") update. Molori currently owns a 25 percent working interest in certain leases located in the bifurcated Texas panhandle owned by Texas-based independent oil and gas producer Ponderosa Energy, LLC ("Ponderosa"). This latest NI 51-101 covers 77 of the leases in which Molori holds a working interest. In summary, the initial projected average production was 40 barrels of oil equivalent per day ("BOEPD")* in June 2016, when Molori made its first investment into Ponderosa. For the month of March 2017, production averaged 412 BOEPD, a ten-fold increase in daily average production. This production increase is due primarily to an aggressive work-over campaign to return non-producing wells to production, while keeping Lease Operating Expenses ("LOE") below USD$15 per barrel due to tight cost controls. Further, the initial NI 51-101 report dated April 01, 2016, resulted in USD$5.15 million of 1P (Total Proven Reserves) consisting of US$1.25 million PDP (Proved Developed Producing) and USD$2.89 million PDNP (Proved Developed non-Producing). The new updated NI 51- 101 report dated May 03, 2017, effective April 01, 2017 and prepared by Amiel David, Ph.D of PeTech Enterprises Inc, has resulted in US$30.1 million 1P (Total Proven Reserves), including USD$21.9 million in PDP and USD$8.2 million in PDNP. The NI 51-101 was prepared in accordance with standards set out in the Canadian Oil and Gas Evaluation Handbook (the "COGE Handbook"), prepared jointly by the Society of Petroleum Evaluation Engineers (Calgary Chapter) and the Canadian Institute of Mining. Metallurgy & Petroleum (Petroleum Society). Joel Dumaresq, CEO of Molori commented, "the latest reserve report is further validation of Molori's strategy of acquiring non-producing oil wells, cost-effectively re-working those wells, and bringing them back into production. In the past 10 months, our partners at Ponderosa have increased gross PDP ("Proved Developed Producing") values from USD $1.3 million to over $21.9 million at the end of March. Molori is committed to expanding upon this core business strategy while at the same time assembling additional prospective acreage". -All numbers are in USD -Molori interest is 25% * Per BOE amounts have been calculated by using the conversion ratio of six thousand cubic feet (6 MCF) of natural gas to one barrel (1 bbl) of crude oil. The BOE conversion ratio of 6 mcf to 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. Given that the value ratio based on the current price of natural gas as compared to oil is significantly different from the energy equivalent of 1:6, utilizing a conversion on a 1:6 basis may be misleading as an indication of value. The ratio of gas to oil was 70% gas and 30% oil in June 2016 and 40% gas and 60% oil in April 2017. Molori Energy Inc. is an oil and gas production company with current operations in the Texas Panhandle West Field. This giant field was discovered in 1910 and expanded three years later to create one of the US largest gas fields. The experienced management team at Molori is aggressively acquiring select properties which provide immediate cash flow and development opportunities, now and in the years ahead. Molori is seizing the opportunity, in the current oil & gas environment, to assemble oil and gas production in nearby and politically safe jurisdictions. 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 OR ACCURACY OF THIS NEW RELEASE. This News Release contains forward-looking statements. Forward-looking statements include but are not limited to those with respect to the prices of oil and gas, the estimation of oil and gas resources and reserves, the realization of oil and gas reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency fluctuations, requirements for additional capital, Government regulation of oil and gas operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage and the timing and possible outcome of pending litigation. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the actual results of current exploration activities, conclusions or economic evaluations, changes in project parameters as plans continue to be refined, possible variations in grade and or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes or other risks of the oil & gas industry, delays in obtaining government approvals or financing or incompletion of development or construction activities, risks relating to the integration of acquisitions, to international operations, and to the prices of oil & gas. While the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law. VANCOUVER, BC / ACCESSWIRE / May 4, 2017 / Molori Energy Inc. (TSXV: MOL) (OTCQB: MOLOF) ("Molori" or the "Company") is pleased to provide an operational and National Instrument 51-101 reserve report ("NI 51-101") update. Molori currently owns a 25 percent working interest in certain leases located in the bifurcated Texas panhandle owned by Texas-based independent oil and gas producer Ponderosa Energy, LLC ("Ponderosa"). This latest NI 51-101 covers 77 of the leases in which Molori holds a working interest. In summary, the initial projected average production was 40 barrels of oil equivalent per day ("BOEPD")* in June 2016, when Molori made its first investment into Ponderosa. For the month of March 2017, production averaged 412 BOEPD, a ten-fold increase in daily average production. This production increase is due primarily to an aggressive work-over campaign to return non-producing wells to production, while keeping Lease Operating Expenses ("LOE") below USD$15 per barrel due to tight cost controls. Further, the initial NI 51-101 report dated April 01, 2016, resulted in USD$5.15 million of 1P (Total Proven Reserves) consisting of US$1.25 million PDP (Proved Developed Producing) and USD$2.89 million PDNP (Proved Developed non-Producing). The new updated NI 51- 101 report dated May 03, 2017, effective April 01, 2017 and prepared by Amiel David, Ph.D of PeTech Enterprises Inc, has resulted in US$30.1 million 1P (Total Proven Reserves), including USD$21.9 million in PDP and USD$8.2 million in PDNP. The NI 51-101 was prepared in accordance with standards set out in the Canadian Oil and Gas Evaluation Handbook (the "COGE Handbook"), prepared jointly by the Society of Petroleum Evaluation Engineers (Calgary Chapter) and the Canadian Institute of Mining. Metallurgy & Petroleum (Petroleum Society). Joel Dumaresq, CEO of Molori commented, "the latest reserve report is further validation of Molori's strategy of acquiring non-producing oil wells, cost-effectively re-working those wells, and bringing them back into production. In the past 10 months, our partners at Ponderosa have increased gross PDP ("Proved Developed Producing") values from USD $1.3 million to over $21.9 million at the end of March. Molori is committed to expanding upon this core business strategy while at the same time assembling additional prospective acreage". -All numbers are in USD -Molori interest is 25% * Per BOE amounts have been calculated by using the conversion ratio of six thousand cubic feet (6 MCF) of natural gas to one barrel (1 bbl) of crude oil. The BOE conversion ratio of 6 mcf to 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. Given that the value ratio based on the current price of natural gas as compared to oil is significantly different from the energy equivalent of 1:6, utilizing a conversion on a 1:6 basis may be misleading as an indication of value. The ratio of gas to oil was 70% gas and 30% oil in June 2016 and 40% gas and 60% oil in April 2017. Molori Energy Inc. is an oil and gas production company with current operations in the Texas Panhandle West Field. This giant field was discovered in 1910 and expanded three years later to create one of the US largest gas fields. The experienced management team at Molori is aggressively acquiring select properties which provide immediate cash flow and development opportunities, now and in the years ahead. Molori is seizing the opportunity, in the current oil & gas environment, to assemble oil and gas production in nearby and politically safe jurisdictions. 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 OR ACCURACY OF THIS NEW RELEASE. This News Release contains forward-looking statements. Forward-looking statements include but are not limited to those with respect to the prices of oil and gas, the estimation of oil and gas resources and reserves, the realization of oil and gas reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency fluctuations, requirements for additional capital, Government regulation of oil and gas operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage and the timing and possible outcome of pending litigation. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the actual results of current exploration activities, conclusions or economic evaluations, changes in project parameters as plans continue to be refined, possible variations in grade and or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes or other risks of the oil & gas industry, delays in obtaining government approvals or financing or incompletion of development or construction activities, risks relating to the integration of acquisitions, to international operations, and to the prices of oil & gas. While the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.


News Article | February 24, 2017
Site: marketersmedia.com

VANCOUVER, BC / ACCESSWIRE / February 24, 2017 / Molori Energy Inc. (TSXV: MOL) (OTCQB: MOLOF) ("Molori" or the "Company") is pleased to announce that the Company has been verified to trade on OTCQB®, the venture marketplace for entrepreneurial and development stage companies operated by OTC Markets Group. Trading commenced on February 22, 2017 under the symbol "MOLOF". U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com. "With our new focus on domestic US oil & gas production, we will be better positioned to reach out to US investors," said Joel Dumaresq, CEO of Molori. "Not only will we be able to expand our investor-reach, we will broaden the presence of the Company in an important market. This is a natural step in the growth of Molori." Molori Energy Inc. is an oil and gas production company with current operations in the Texas Panhandle. Founded in 2011, the experienced management team is aggressively acquiring select properties which provide immediate cash flow and development opportunities, now and in the years ahead. Molori is seizing the opportunity, in the current oil & gas environment, to assemble oil and gas production in nearby and politically safe jurisdictions. Molori is pursuing a business plan, whereby the Company either purchases producing oil and gas assets at highly attractive rates, or in some cases simply takes on existing assets by way of purchasing or assuming default notes from small regional lenders and institutions. 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 OR ACCURACY OF THIS NEW RELEASE. This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. VANCOUVER, BC / ACCESSWIRE / February 24, 2017 / Molori Energy Inc. (TSXV: MOL) (OTCQB: MOLOF) ("Molori" or the "Company") is pleased to announce that the Company has been verified to trade on OTCQB®, the venture marketplace for entrepreneurial and development stage companies operated by OTC Markets Group. Trading commenced on February 22, 2017 under the symbol "MOLOF". U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com. "With our new focus on domestic US oil & gas production, we will be better positioned to reach out to US investors," said Joel Dumaresq, CEO of Molori. "Not only will we be able to expand our investor-reach, we will broaden the presence of the Company in an important market. This is a natural step in the growth of Molori." Molori Energy Inc. is an oil and gas production company with current operations in the Texas Panhandle. Founded in 2011, the experienced management team is aggressively acquiring select properties which provide immediate cash flow and development opportunities, now and in the years ahead. Molori is seizing the opportunity, in the current oil & gas environment, to assemble oil and gas production in nearby and politically safe jurisdictions. Molori is pursuing a business plan, whereby the Company either purchases producing oil and gas assets at highly attractive rates, or in some cases simply takes on existing assets by way of purchasing or assuming default notes from small regional lenders and institutions. 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 OR ACCURACY OF THIS NEW RELEASE. This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.


News Article | March 1, 2017
Site: marketersmedia.com

VANCOUVER, BC / ACCESSWIRE / February 28, 2017 / Molori Energy Inc. (TSX-V: MOL) (OTCQB: MOLOF) ("Molori" or the "Company") is pleased to report the release of its annual consolidated financial statements and the notes the year ended October 31, 2016, together with the auditors' report thereon (the "2016 Financial Statements") and the related management's discussion and analysis for the year ended October 31, 2016 (the "2016 MD&A"). The 2016 Financial Statements and 2016 MD&A are available on the Company's website at www.molorienergy.com and under Molori's SEDAR profile at www.sedar.com. On June 6, 2016, Molori closed on the purchase of a 25% working interest in the oil and gas production from certain leases owned by Texas-based Ponderosa Energy, LLC. ("Ponderosa"). In conjunction with the purchase, Molori committed USD $1,000,000 in working capital towards a program to complete workovers on the Texas-based leases in order to increase production. Ponderosa, a domestic USA oil and gas production company, is the operator on the leases and is presently focused on aggregating and developing shallow conventional oil reserves in Texas. Ponderosa purchased these leases when oil prices dipped below $30 per barrel from distressed operators with highly-leveraged balance sheets and an inability to fund operations. Molori and Ponderosa have chosen to collectively pursue assets which specifically exhibit the following properties: shallow reservoir, low geologic risk, moderate decline rates, and existing infrastructure. From June to October 2016, Ponderosa spent approximately US$420,000 on reworking and returning to production over 30 wells on the leases it shares with Molori. That saw the average barrels of oil equivalent per day ("BOEPD")* of 49 in June, increase to an average of 126 BOEPD for the 5 month-period. Ponderosa produced a total of 5,546 barrels of oil ("bbl") and 82,201 Mcf in gas during the 5 month period, June to October. Combined, that translates into 19,246 BOEPD for the 5 month period and US$640,000 in gross revenue. Lease operating expenses amounted to US$13.15 barrels of oil equivalent ("BOE"), for the 5 month period, June to October 2016. Molori recorded a gain of $3,773,283 on the write down of its Subsidiary, Lion Petroleum. As a result, total income for the year was $2,293,821 as compared to a loss of $13,650,583 in the prior year. In addition to purchasing the 25% working interest in Ponderosa, the Company reduced its current liabilities by $1,656,500. The Company will continue to strengthen its balance sheet in the 2017 fiscal year. In partnership with Ponderosa, and in order to grow production, Molori is actively pursuing opportunities to acquire additional leases in the Panhandle area. The Company is awaiting completion in the next few weeks of a revised NI 51-101 reserve report, which it anticipates will reflect an increase in reserves as a result of the additional wells being brought on line. Ponderosa's anticipates being at 500+ BOEPD in next several weeks. February average production was approximately 400 BOEPD resulting in over 11,000 barrels of oil being produced for the month. Joel Dumaresq, CEO of Molori stated: "We are extremely pleased with the efforts of our operating partner — Ponderosa Energy - and in particular with the growth in production. We feel that the results of the past 6 months, validate our strategy of acquiring non-operating wells and bringing them into production in a cost-efficient manner. We are actively considering our options for increasing our ownership of these assets." * Per BOE amounts have been calculated by using the conversion ratio of six thousand cubic feet (6 MCF) of natural gas to one barrel (1 bbl) of crude oil. The BOE conversion ratio of 6 mcf to 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. Given that the value ratio based on the current price of natural gas as compared to oil is significantly different from the energy equivalent of 1:6, utilizing a conversion on a 1:6 basis may be misleading as an indication of value. Molori Energy Inc. is an oil and gas production company with current operations in the Texas Panhandle. Founded in 2011, the experienced management team is aggressively acquiring select properties which provide immediate cash flow and development opportunities, now and in the years ahead. Molori is seizing the opportunity, in the current oil & gas environment, to assemble oil and gas production in nearby and politically safe jurisdictions. Molori is pursuing a business plan, whereby the Company either purchases producing oil and gas assets at highly attractive rates, or in some cases simply takes on existing assets by way of purchasing or assuming default notes from small regional lenders and institutions. 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 OR ACCURACY OF THIS NEW RELEASE. This News Release contains forward-looking statements. Forward-looking statements include but are not limited to those with respect to the prices of oil and gas, the estimation of oil and gas resources and reserves, the realization of oil and gas reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency fluctuations, requirements for additional capital, Government regulation of oil and gas operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage and the timing and possible outcome of pending litigation. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the actual results of current exploration activities, conclusions or economic evaluations, changes in project parameters as plans continue to be refined, possible variations in grade and or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes or other risks of the oil & gas industry, delays in obtaining government approvals or financing or incompletion of development or construction activities, risks relating to the integration of acquisitions, to international operations, and to the prices of oil & gas. While the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law. VANCOUVER, BC / ACCESSWIRE / February 28, 2017 / Molori Energy Inc. (TSX-V: MOL) (OTCQB: MOLOF) ("Molori" or the "Company") is pleased to report the release of its annual consolidated financial statements and the notes the year ended October 31, 2016, together with the auditors' report thereon (the "2016 Financial Statements") and the related management's discussion and analysis for the year ended October 31, 2016 (the "2016 MD&A"). The 2016 Financial Statements and 2016 MD&A are available on the Company's website at www.molorienergy.com and under Molori's SEDAR profile at www.sedar.com. On June 6, 2016, Molori closed on the purchase of a 25% working interest in the oil and gas production from certain leases owned by Texas-based Ponderosa Energy, LLC. ("Ponderosa"). In conjunction with the purchase, Molori committed USD $1,000,000 in working capital towards a program to complete workovers on the Texas-based leases in order to increase production. Ponderosa, a domestic USA oil and gas production company, is the operator on the leases and is presently focused on aggregating and developing shallow conventional oil reserves in Texas. Ponderosa purchased these leases when oil prices dipped below $30 per barrel from distressed operators with highly-leveraged balance sheets and an inability to fund operations. Molori and Ponderosa have chosen to collectively pursue assets which specifically exhibit the following properties: shallow reservoir, low geologic risk, moderate decline rates, and existing infrastructure. From June to October 2016, Ponderosa spent approximately US$420,000 on reworking and returning to production over 30 wells on the leases it shares with Molori. That saw the average barrels of oil equivalent per day ("BOEPD")* of 49 in June, increase to an average of 126 BOEPD for the 5 month-period. Ponderosa produced a total of 5,546 barrels of oil ("bbl") and 82,201 Mcf in gas during the 5 month period, June to October. Combined, that translates into 19,246 BOEPD for the 5 month period and US$640,000 in gross revenue. Lease operating expenses amounted to US$13.15 barrels of oil equivalent ("BOE"), for the 5 month period, June to October 2016. Molori recorded a gain of $3,773,283 on the write down of its Subsidiary, Lion Petroleum. As a result, total income for the year was $2,293,821 as compared to a loss of $13,650,583 in the prior year. In addition to purchasing the 25% working interest in Ponderosa, the Company reduced its current liabilities by $1,656,500. The Company will continue to strengthen its balance sheet in the 2017 fiscal year. In partnership with Ponderosa, and in order to grow production, Molori is actively pursuing opportunities to acquire additional leases in the Panhandle area. The Company is awaiting completion in the next few weeks of a revised NI 51-101 reserve report, which it anticipates will reflect an increase in reserves as a result of the additional wells being brought on line. Ponderosa's anticipates being at 500+ BOEPD in next several weeks. February average production was approximately 400 BOEPD resulting in over 11,000 barrels of oil being produced for the month. Joel Dumaresq, CEO of Molori stated: "We are extremely pleased with the efforts of our operating partner — Ponderosa Energy - and in particular with the growth in production. We feel that the results of the past 6 months, validate our strategy of acquiring non-operating wells and bringing them into production in a cost-efficient manner. We are actively considering our options for increasing our ownership of these assets." * Per BOE amounts have been calculated by using the conversion ratio of six thousand cubic feet (6 MCF) of natural gas to one barrel (1 bbl) of crude oil. The BOE conversion ratio of 6 mcf to 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. Given that the value ratio based on the current price of natural gas as compared to oil is significantly different from the energy equivalent of 1:6, utilizing a conversion on a 1:6 basis may be misleading as an indication of value. Molori Energy Inc. is an oil and gas production company with current operations in the Texas Panhandle. Founded in 2011, the experienced management team is aggressively acquiring select properties which provide immediate cash flow and development opportunities, now and in the years ahead. Molori is seizing the opportunity, in the current oil & gas environment, to assemble oil and gas production in nearby and politically safe jurisdictions. Molori is pursuing a business plan, whereby the Company either purchases producing oil and gas assets at highly attractive rates, or in some cases simply takes on existing assets by way of purchasing or assuming default notes from small regional lenders and institutions. 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 OR ACCURACY OF THIS NEW RELEASE. This News Release contains forward-looking statements. Forward-looking statements include but are not limited to those with respect to the prices of oil and gas, the estimation of oil and gas resources and reserves, the realization of oil and gas reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency fluctuations, requirements for additional capital, Government regulation of oil and gas operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage and the timing and possible outcome of pending litigation. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the actual results of current exploration activities, conclusions or economic evaluations, changes in project parameters as plans continue to be refined, possible variations in grade and or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes or other risks of the oil & gas industry, delays in obtaining government approvals or financing or incompletion of development or construction activities, risks relating to the integration of acquisitions, to international operations, and to the prices of oil & gas. While the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.


BUDAPEST, 13-Feb-2017 — /EuropaWire/ — MOL Group expanded its exploration portfolio by acquiring new licenses in Hungary and Norway. MOL acquired 6 new licences in the 4th bid round in Hungary, doubling its exploration acreage in the country. MOL Norge participated in the latest APA licensing round and acquired 4 licences in the Norwegian Continental Shelf, one of which with operatorship. These successes significantly contribute to the implementation of the MOL 2030 strategy. MOL has won 6 new licences in the fourth Hungarian hydrocarbon exploration tender and the concession contracts have been signed by the representatives of the Ministry of National Development and MOL. As a result MOL can start hydrocarbon exploration on nearly 4,200 square kilometres in the area of Bázakerettye, Bucsa, Jászárokszállás, Mezőtúr, Okány-West and Zala-West in addition to the almost 4,200 square kilometres area covered by mining authority decisions and concessions already acquired. MOL is targeting both proven exploration plays in Hungary as well as new plays which are the result of our ongoing new Trans-Pannonian basin study. Separately, it was announced earlier that the Norwegian Ministry of Petroleum and Energy granted four licences to MOL Norge on the Norwegian Continental Shelf at the 2016 APA (Award in Pre-Defined Areas) licensing round, including one with operatorship. MOL has been granted operatorship in an additional position in the Mandal High Area, one of MOL Norge’s core areas in Norway. The partners in the new operated licence include Statoil and Petoro AS, the leading national oil and gas companies in Norway. MOL has also successfully joined three licenses operated by AkerBP. „We are very happy that we have successfully competed in the latest bid rounds in two of our core countries doubling our exploration footprint in Hungary and adding exciting prospects in Norway with worldclass partners. I am confident that the expansion of our Central Eastern European and Norwegian exploration portfolio will support the delivery of organic reserve replacement for the Group.”


News Article | February 16, 2017
Site: marketersmedia.com

VANCOUVER, BC / ACCESSWIRE / February 16, 2017 / Molori Energy Inc. (TSX-V: MOL) (OTC PINK: TAIPF) ("Molori" or the "Company") is pleased to announce a non-brokered private placement offering (the "Private Placement") of up to 3,000,000 units ("Units") at a price of $0.10 per Unit to raise aggregate gross proceeds of up to $300,000. Each Unit will be comprised of one common share and one common share purchase warrant. Each full warrant gives the holder the right to purchase one additional common share of Molori at an exercise price of $0.20 for one year following the closing of the Private Placement. Insiders of the Company is expected to participate in the Private Placement. Molori has a 25% working interest in in fifty seven (57) oil and gas leases in the bifurcated Texas Panhandle, and the proceeds will be used toward ongoing operational expenses and for general corporate purposes. Molori Energy Inc. is an oil and gas production company with current operations in the Texas Panhandle. Founded in 2011, the experienced management team is aggressively acquiring select properties which provide immediate cash flow and development opportunities, now and in the years ahead. Molori is seizing the opportunity, in the current oil and gas environment, to assemble oil and gas production in nearby and politically safe jurisdictions. Molori is pursuing a business plan, whereby the Company either purchases producing oil and gas assets at highly attractive rates, or in some cases simply takes on existing assets by way of purchasing or assuming default notes from small regional lenders and institutions. 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 OR ACCURACY OF THIS NEW RELEASE. This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our or our industry's actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. VANCOUVER, BC / ACCESSWIRE / February 16, 2017 / Molori Energy Inc. (TSX-V: MOL) (OTC PINK: TAIPF) ("Molori" or the "Company") is pleased to announce a non-brokered private placement offering (the "Private Placement") of up to 3,000,000 units ("Units") at a price of $0.10 per Unit to raise aggregate gross proceeds of up to $300,000. Each Unit will be comprised of one common share and one common share purchase warrant. Each full warrant gives the holder the right to purchase one additional common share of Molori at an exercise price of $0.20 for one year following the closing of the Private Placement. Insiders of the Company is expected to participate in the Private Placement. Molori has a 25% working interest in in fifty seven (57) oil and gas leases in the bifurcated Texas Panhandle, and the proceeds will be used toward ongoing operational expenses and for general corporate purposes. Molori Energy Inc. is an oil and gas production company with current operations in the Texas Panhandle. Founded in 2011, the experienced management team is aggressively acquiring select properties which provide immediate cash flow and development opportunities, now and in the years ahead. Molori is seizing the opportunity, in the current oil and gas environment, to assemble oil and gas production in nearby and politically safe jurisdictions. Molori is pursuing a business plan, whereby the Company either purchases producing oil and gas assets at highly attractive rates, or in some cases simply takes on existing assets by way of purchasing or assuming default notes from small regional lenders and institutions. 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 OR ACCURACY OF THIS NEW RELEASE. This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our or our industry's actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.


News Article | February 16, 2017
Site: www.accesswire.com

VANCOUVER, BC / ACCESSWIRE / February 16, 2017 / Molori Energy Inc. (TSX-V: MOL) (OTC PINK: TAIPF) ("Molori" or the "Company") is pleased to announce a non-brokered private placement offering (the "Private Placement") of up to 3,000,000 units ("Units") at a price of $0.10 per Unit to raise aggregate gross proceeds of up to $300,000. Each Unit will be comprised of one common share and one common share purchase warrant. Each full warrant gives the holder the right to purchase one additional common share of Molori at an exercise price of $0.20 for one year following the closing of the Private Placement. Insiders of the Company is expected to participate in the Private Placement. Molori has a 25% working interest in in fifty seven (57) oil and gas leases in the bifurcated Texas Panhandle, and the proceeds will be used toward ongoing operational expenses and for general corporate purposes. Molori Energy Inc. is an oil and gas production company with current operations in the Texas Panhandle. Founded in 2011, the experienced management team is aggressively acquiring select properties which provide immediate cash flow and development opportunities, now and in the years ahead. Molori is seizing the opportunity, in the current oil and gas environment, to assemble oil and gas production in nearby and politically safe jurisdictions. Molori is pursuing a business plan, whereby the Company either purchases producing oil and gas assets at highly attractive rates, or in some cases simply takes on existing assets by way of purchasing or assuming default notes from small regional lenders and institutions. 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 OR ACCURACY OF THIS NEW RELEASE. This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our or our industry's actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.


News Article | February 24, 2017
Site: www.accesswire.com

VANCOUVER, BC / ACCESSWIRE / February 23, 2017 / Molori Energy Inc. (TSX-V: MOL) ("Molori" or the "Company") is pleased to announce the closing of a non-brokered private placement offering (the "Private Placement") announced on February 16, 2017. The Private Placement closed at 3,000,000 units ("Units") at a price of $0.10 per Unit for a total of $300,000. Each Unit will be comprised of one common share and one common share purchase warrant. Each full warrant gives the holder the right to purchase one additional common share of Molori at an exercise price of $0.20 for one year following the closing of the Private Placement. In connection with the closing of the Private Placement, the Company paid cash finders' fees equal to 7% of the proceeds and issued finders' warrants equal to 7% of the number of Units sold. The finders' warrants have the same terms as the warrants forming part of the Units. All securities issued pursuant to the Private Placement will be subject to a statutory four-month hold period. Insiders of the Company subscribed for 520,000 Units of the Offering. The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions contain in section 5.5(b) and 5.7(1) (b) of MI 61-101. The proceeds will be used toward ongoing operational expenses and for general corporate purposes. Molori Energy Inc. is an oil and gas production company with current operations in the Texas Panhandle. Founded in 2011, the experienced management team is aggressively acquiring select properties which provide immediate cash flow and development opportunities, now and in the years ahead. Molori is seizing the opportunity, in the current oil & gas environment, to assemble oil and gas production in nearby and politically safe jurisdictions. Molori is pursuing a business plan, whereby the Company either purchases producing oil and gas assets at highly attractive rates, or in some cases simply takes on existing assets by way of purchasing or assuming default notes from small regional lenders and institutions. 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 OR ACCURACY OF THIS NEW RELEASE. This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.


SAN CARLOS, Calif.--(BUSINESS WIRE)--In advance of the first-ever National Heart Valve Disease Awareness Day, the Lipoprotein(a) Foundation is highlighting a number of studies that demonstrate the impact of elevated Lp(a) and its significance as an independent, genetic risk factor for early cardiovascular disease. Recently published research has shown that elevated Lp(a) is the strongest independent genetic risk factor for heart valve disease and individuals with high Lp(a) may also be susceptible to earlier and more aggressive valve disease. The Lipoprotein(a) Foundation has partnered with the Alliance for Aging Research to promote National Heart Valve Disease Awareness Day on February 22, during National Heart Month. The Lipoprotein(a) Foundation recently issued an Infographic to raise awareness about aortic valve disease, including aortic stenosis, the most common form of valve disease in the Western world. More than 5 million adults in the U.S. are estimated to have some form of aortic valve disease and some 15,000 die every year.1 For more information about patients with high Lp(a) and valve disease, visit www.TESTLpa.org. George Thanassoulis, MD MSc FRCP(C), Director of Preventive and Genomic Cardiology at the McGill University Health Center and Associate Professor at McGill University, Montreal, and a member of the Lipoprotein(a) Foundation’s Scientific Advisory Board, has been involved in three recent studies linking elevated levels of Lp(a) and aortic valve disease. The study “Estimating the Population Impact of Lp(a) Lowering on the Incidence of Myocardial Infarction and Aortic Stenosis,” was recently published in the American Heart Association journal, Arteriosclerosis, Thrombosis, and Vascular Biology. With potent Lp(a)-lowering therapies on the horizon, researchers sought to estimate the potential population impact of Lp(a) lowering that may be achieved by these therapies in primary prevention. Results showed that reducing high Lp(a) could potentially prevent up to 1 in 14 cases of myocardial infarction and 1 in 7 cases of aortic valve stenosis. “These data demonstrate that among those with high Lp(a), nearly one third of heart attacks and half of all cases of aortic stenosis can be attributed to high Lp(a) and may be preventable with Lp(a) lowering therapy. Lowering Lp(a) could significantly reduce the impact of cardiovascular disease,” said Dr Thanassoulis. In “Lipoprotein (a) in calcific aortic valve disease: from genomics to novel drug target for aortic stenosis,” published in the Journal of Lipid Research (DOI: 10.1194/jlr.R051870) and “Lipoprotein(a): new insights from modern genomics,” published in the January issue of Current Opinion in Lipidology (DOI:10.1097/MOL.0000000000000392), Dr Thanassoulis and colleagues identify Lipoprotein(a) as the strongest independent genetic risk factor for both myocardial infarction and aortic stenosis. According to Dr Thanassoulis, “With mounting epidemiological and genetic findings in support of Lp(a)-mediated valve disease, it is critical to discuss potential mechanisms underlying this observation, and outline the steps to translate this discovery to a much needed novel therapeutic strategy for AV disease. With novel therapies on the horizon, Lp(a) is poised to gain significant clinical relevance and its lowering could have a significant impact on the burden of CVD.” Dr Thanassoulis also announced that he just received a Research Project Grant (RO1) from the National Institutes of Health/ National Heart, Lung, and Blood Institute (NHLBI). The purpose of the grant, titled, “Genetic and molecular epidemiology of Lp(a)-mediated calcific aortic valve disease,” is to extend discovery of the role of Lp(a) in aortic stenosis. The objectives are to better understand the molecular determinants of Lp(a) mediated valve calcification and identify causal disease pathways that may be targeted by novel therapeutics. One in 5 people globally have inherited high Lp(a) - 63 million in the U.S.4 - and Lp(a) is currently the strongest monogenetic risk factor for coronary heart disease and aortic stenosis.2,3 Lp(a) concentrations can be measured by a simple blood test and could be the first step in preventing up to 120,000 cardiovascular events every year;1,5 however, it is not included in most standard lipid panel tests that check cholesterol levels.1 “There is a growing body of research that links high lipoprotein(a) to heart attacks, strokes and now aortic stenosis and heart valve disease. Studies likes the ones conducted by Dr Thanassoulis continue to demonstrate that high Lp(a) is the strongest independent genetic risk factor for many cardiac conditions and therapies under development could have tremendous impact. We are proud to support education and awareness of Heart Valve Disease and will continue to empower patients and prevent cardiovascular events due to high Lipoprotein(a) through proper testing and diagnosis,” said Sandra Revill Tremulis, founder of Lipoprotein(a) Foundation. Because approximately 63 million Americans have high Lipoprotein(a) and are at risk of premature cardiovascular disease, the vision for the foundation is: To live in a world where high Lipoprotein(a) is routinely diagnosed, treated and family screened. The mission is to prevent cardiovascular events due to high Lipoprotein(a) by diagnosing this inherited risk for cardiovascular disease; educating and empowering patients and saving lives. Our goal is to save lives by increasing awareness, advocating for routine testing, and supporting research that will lead to a specific treatment for elevated Lipoprotein(a). Based in San Carlos, California, the Lipoprotein(a) Foundation is a patient-founded, 501(c)3 non-profit organization. Learn more about Aortic Valve Disease and high Lp(a) visit: www.TESTLpa.org


News Article | February 24, 2017
Site: news.europawire.eu

BREMEN, 24-Feb-2017 — /EuropaWire/ — EUROGATE is pleased to announce that six further container shipping lines will call at Wilhelmshaven from April 2017. The newly established shipping alliance OCEAN Alliance (COSCO Shipping, OOCL, CMA CGM, Evergreen) is to include EUROGATE Container Terminal Wilhelmshaven in its schedules. Furthermore, as a result of forthcoming operational changes, both Hamburg Süd and Hyundai Merchant Marine will extend their offering to include Wilhelmshaven. Due to the re-formation of the alliances as a result of the intensifying consolidation process on the part of the shipping lines, the industry is currently undergoing a process of change on an unprecedented scale. Given the ever larger vessels operating the services between Asia and Northern Europe, it is especially gratifying that so many shipping lines have meanwhile come to recognise the nautical advantages offered by Wilhelmshaven. EUROGATE Container Terminal Wilhelmshaven is located at Germany’s only deep-water port and offers mega container ships with a draught of up to 16.5 metres unrestricted nautical access, independently of the tide. Initially, OCEAN Alliance will call at Wilhelmshaven once a week with some of the world’s largest container vessels (> 18,000 TEUs) operating its “Asia–North Europe 1” scheduled service. With this, Wilhelmshaven is expanding its offer in particular for export shipments to Asia. Subsequently, through their recently initiated operational cooperation with Maersk Line and the 2M Alliance, Hamburg Süd and Hyundai Merchant Marine will start operating services via Wilhelmshaven from April. The six further shipping lines in Wilhelmshaven will significantly extend and complement the existing Maersk Line services. The 2M Alliance has been calling at Wilhelmshaven since it was formed in early 2015. In 2016, EUROGATE Container Terminal Wilhelmshaven increased its container handling volume by 13 per cent compared to the previous year. Parallel to this, there was an increase in transports by road (+65%) and by rail (+38%) to the seaport hinterland. Michael Blach, Chairman of the EUROGATE Group Management Board, says: “We are delighted that with OCEAN Alliance we have attracted four additional shipping lines – COSCO Shipping, CMA CGM, OOCL and Evergreen – to Wilhelmshaven. This is a significant success that we have worked long and hard to achieve. The fact that two of the three major shipping alliances will visit Germany’s only deep-water port from spring 2017 will give Wilhelmshaven a new growth spurt – also with respect to the portfolio of additional transport and logistics services.” From April 2017, the global container market will have three major alliances: • 2M: Maersk Line and MSC • OCEAN Alliance: COSCO Shipping, OOCL, CMA CGM and Evergreen • THE Alliance: Hapag Lloyd, NYK, K-Line, MOL and Yangming The planned rotation for the OCEAN Alliance’s scheduled “Asia–North Europe 1” service is: About EUROGATE: EUROGATE is the leading, shipping line independent container terminal operator Group in Europe. Jointly with the Italian terminal operator Contship Italia, the company operates a network of eleven container terminals from the North Sea coast to the Mediterranean area. Commencing 29 January 2017, the EUROGATE Container Terminal Limassol, Cyprus, will be added as the 12th location of the network. In addition to container handling services at seaports, EUROGATE offers intermodal transport and cargomodal services. EUROGATE was founded in 1999, and handled 14.6 million TEUs Europe-wide in 2016. For more information visit www.eurogate.eu.

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