San Diego, CA, United States
San Diego, CA, United States

Point Loma Nazarene University is a Christian liberal arts college. Its main campus is located on the Point Loma oceanfront in San Diego, California, United States. It was founded in 1902 as a Bible college by the Church of the Nazarene. Wikipedia.


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News Article | May 23, 2017
Site: www.marketwired.com

In establishing this JV, Point Loma has attracted a strategic partner that will allow Point Loma to accelerate currently identified opportunities and additional capital options to pursue opportunities in the core focus area of west central Alberta. Point Loma has been able to acquire certain assets for accretive terms in the region and this transaction will inject capital to activate additional acquired production previously suspended and to expand the Corporation's drilling program. "Point Loma is looking forward to the strategic JV with Salt Bush as it will accelerate the ability to unlock the value of our west central Alberta properties," said Terry Meek, President and CEO of Point Loma. "The agreement will allow us not only to begin this much anticipated growth phase with the initiation of drilling activity but allows us to explore other opportunities through this additional access to capital in a challenging market." Current production of approximately 900 boe/d is anticipated to ultimately increase with the deployment of the proceeds through certain identified acquisitions, development drilling and new pool drilling opportunities. Point Loma is a public oil and gas development and exploration company focused on horizontally exploiting conventional oil and gas reservoirs in west central Alberta. Point Loma's business plan is to utilize its experience to drill, develop and acquire accretive assets with potential for horizontal multi-stage frac technology and exploit opportunities for secondary recovery. For more information and our current presentation please visit Point Loma's website at www.pointloma.ca or Point Loma's profile on the System for Electronic Document Analysis and Retrieval website at www.sedar.com. This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws, including without limitation, statements pertaining to Point Loma's expectations as to production and future potential production increases, as well as increases in cash flow and the timing thereof; future gas processing rates; Point Loma's expectations as to future prices of oil and natural gas; the focus of Point Loma's management team and go-forward strategy. The use of any of the words "will", "expects", "believe", "plans", "potential" and similar expressions are intended to identify forward-looking statements or information. Although Point Loma believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Point Loma cannot give assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve and resource estimates; the inability of Point Loma to bring additional production on stream or in the anticipated quantities disclosed herein; the uncertainty of estimates and projections relating to reserves, resources, production, costs and expenses; health, safety and environmental risks; commodity price and exchange rate fluctuations; marketing and transportation; loss of markets; environmental risks; competition; incorrect assessment of the value of acquisitions; failure to realize the anticipated benefits of acquisitions; ability to access sufficient capital from internal and external sources; changes in legislation, including but not limited to tax laws, royalties and environmental regulations, actual production from the acquired assets may be greater or less than estimates. Management has included the above summary of assumptions and risks related to forward-looking information provided in this press release in order to provide security holders with a more complete perspective on Point Loma's future operations and such information may not be appropriate for other purposes. The forward-looking statements and information contained in this press release are made as of the date hereof and Point Loma does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. "BOEs" may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (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. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value. You are using an outdated browser For a better experience using this site, please upgrade to a modern web browser.


CALGARY, AB--(Marketwired - May 24, 2017) - Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or "Point Loma") is pleased to announce an investment agreement with Evenergy Company Limited ("Evenergy") for Evenergy to acquire 8,375,000 common shares of Point Loma for $4,020,000 representing a purchase price of $0.48 per share (the "Investment"). With this investment agreement Point Loma has attracted another strategic investor that will allow Point Loma to accelerate currently identified opportunities and provides additional capital options to pursue opportunities in the core focus area of west central Alberta. Point Loma has been able to efficiently acquire certain strategic assets for accretive terms in the region and the Evenergy transaction will inject capital to further accelerate the Corporation's drilling program and acquisition and exploitation opportunities through the remainder of 2017. "Point Loma is excited to add to our capital programs in 2017 with this injection of capital at a key time in our growth cycle," said Terry Meek, President and CEO of Point Loma. "Evenergy is an organization seeking further investment opportunities with Point Loma that, in conjunction with Salt Bush Energy, will allow for strong access to capital in this challenging energy market we face today. With this combination of capital sources Point Loma can look to strong growth in 2017 and beyond." GMP Securities LP and Mackie Research Capital Corporation have acted as the respective financial and strategic advisors to Point Loma in regards to this investment transaction. Point Loma is currently producing approximately 700 boe/d (post-closing of the Salt Bush joint venture). The Corporation anticipates the acceleration of its development plan and the increase of production with the deployment of the proceeds through certain identified acquisitions, re-activations, development drilling and new pool drilling opportunities. Point Loma is a public oil and gas development and exploration company focused on horizontally exploiting conventional oil and gas reservoirs in west central Alberta. Point Loma's business plan is to utilize its experience to drill, develop and acquire accretive assets with potential for horizontal multi-stage frac technology and exploit opportunities for secondary recovery. For more information and our current presentation please visit Point Loma's website at www.pointloma.ca or Point Loma's profile on the System for Electronic Document Analysis and Retrieval website at www.sedar.com. Evenergy is a long term strategic investor targeting high quality oil and gas assets. Evenergy is a Hong Kong registered company, a subsidiary of Zhongcheng Group, one of the largest privately owned independent petroleum refinery, oil products and LPG distribution and retail companies in China. This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws, including without limitation, statements pertaining to Point Loma's expectations as to production and future potential production increases, as well as increases in cash flow and the timing thereof; future gas processing rates; Point Loma's expectations as to future prices of oil and natural gas; the focus of Point Loma's management team and go-forward strategy. The use of any of the words "will", "expects", "believe", "plans", "potential" and similar expressions are intended to identify forward-looking statements or information. Although Point Loma believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Point Loma cannot give assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve and resource estimates; the inability of Point Loma to bring additional production on stream or in the anticipated quantities disclosed herein; the uncertainty of estimates and projections relating to reserves, resources, production, costs and expenses; health, safety and environmental risks; commodity price and exchange rate fluctuations; marketing and transportation; loss of markets; environmental risks; competition; incorrect assessment of the value of acquisitions; failure to realize the anticipated benefits of acquisitions; ability to access sufficient capital from internal and external sources; changes in legislation, including but not limited to tax laws, royalties and environmental regulations, actual production from the acquired assets may be greater or less than estimates. Management has included the above summary of assumptions and risks related to forward-looking information provided in this press release in order to provide security holders with a more complete perspective on Point Loma's future operations and such information may not be appropriate for other purposes. The forward-looking statements and information contained in this press release are made as of the date hereof and Point Loma does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. "BOEs" may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (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. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.


News Article | May 2, 2017
Site: www.prweb.com

LearnHowToBecome.org, a leading resource provider for higher education and career information, has evaluated the best colleges and universities in California for 2017. Of the 50 four-year schools who made the list, Stanford University, University of Southern California, California Institute of Technology, University of California Los Angeles and University of California Berkeley came in as the top five. Of the 50 two-year schools ranked, Santa Rosa Junior College, Pasadena City College, Ohlone College, College of San Mateo and Mission College were the top five. A full list of schools is included below. “California offers students some of the highest-quality academic opportunities in the country, and the schools on our list are the best of the best,” said Wes Ricketts, senior vice president of LearnHowToBecome.org. “Not only do these colleges and universities offer outstanding degree programs, they also provide their students with career resources and counseling services that equip them for post-college success.” To be included on the “Best Colleges in California” list, institutions must be regionally accredited, not-for-profit schools. Each college is ranked on additional statistics including the number of degree programs offered, the availability of career and academic resources, the opportunity for financial aid, graduation rates and annual alumni earnings 10 years after entering college. Complete details on each college, their individual scores and the data and methodology used to determine the LearnHowToBecome.org “Best Colleges in California” list, visit: The Best Four-Year Colleges in California for 2017 include: Art Center College of Design Azusa Pacific University California Baptist University California Institute of Technology California Lutheran University California Polytechnic State University-San Luis Obispo California State University-Long Beach Chapman University Claremont McKenna College Concordia University-Irvine Dominican University of California Fresno Pacific University Harvey Mudd College Holy Names University Loma Linda University Loyola Marymount University Mills College Mount Saint Mary's University National University Notre Dame de Namur University Occidental College Pacific Union College Pepperdine University Pitzer College Point Loma Nazarene University Pomona College Saint Mary's College of California San Diego State University San Francisco State University San Jose State University Santa Clara University Scripps College Stanford University University of California-Berkeley University of California-Davis University of California-Irvine University of California-Los Angeles University of California-Riverside University of California-San Diego University of California-Santa Barbara University of California-Santa Cruz University of La Verne University of Redlands University of San Diego University of San Francisco University of Southern California University of the Pacific Westmont College Whittier College Woodbury University The Best Two-Year Colleges in California for 2017 include: Allan Hancock College American River College Bakersfield College Butte College Cabrillo College Canada College Chabot College Chaffey College Citrus College City College of San Francisco College of San Mateo College of the Canyons College of the Siskiyous Contra Costa College Copper Mountain College Crafton Hills College Cuesta College Cypress College De Anza College Diablo Valley College Feather River College Foothill College Fresno City College Las Positas College Lassen Community College Long Beach City College MiraCosta College Mission College Modesto Junior College Monterey Peninsula College Mt. San Antonio College Napa Valley College Ohlone College Orange Coast College Palomar College Pasadena City College Riverside City College Sacramento City College Saddleback College San Bernardino Valley College San Diego Mesa College Santa Ana College Santa Barbara City College Santa Rosa Junior College Shasta College Skyline College Solano Community College Southwestern College West Valley College Yuba College ### About Us: LearnHowtoBecome.org was founded in 2013 to provide data and expert driven information about employment opportunities and the education needed to land the perfect career. Our materials cover a wide range of professions, industries and degree programs, and are designed for people who want to choose, change or advance their careers. We also provide helpful resources and guides that address social issues, financial aid and other special interest in higher education. Information from LearnHowtoBecome.org has proudly been featured by more than 700 educational institutions.


News Article | May 30, 2017
Site: www.marketwired.com

CALGARY, AB--(Marketwired - May 30, 2017) - Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or "Point Loma") is pleased to report financial and operating results for the three months ended March 31, 2017. Highlights of the period and additional updates are summarized below: The first quarter of 2017 was an active period for acquisitions and an increasing production profile for Point Loma. The Corporation closed a smaller transaction in January 2017 ("Ascent") and a larger deal in February, 2017 ("Judy Creek") which in combination with work completed in December 2016 resulted in increased production for the quarter and an average of 830 boe/d for the month of March 2017. Subsequent to the first quarter Point Loma has announced two additional transactions that will capitalize 2017 drilling and facilities programs and provide strategic capital partners for future growth. On May 23, 2017 the Corporation closed a disposition and joint venture with Salt Bush Energy Ltd. ("Salt Bush") for consideration of $4.17 million for 20% of its oil and gas assets. Salt Bush has made an additional capital commitment of $0.83 million towards the current joint budget. Salt Bush will be a strategic JV partner with Point Loma in future endeavors and will also contribute a proportionate share of general and administrative expenses to the Corporation. On May 24, 2017 Point Loma announced an investment agreement with Evenergy Company Limited ("Evenergy") to acquire 8,375,000 shares of Point Loma for $4,020,000 representing a purchase price of $0.48 per share. The first tranche of funds closed on May 29, 2017 in the amount of $1,797,541 and the second tranche of $2,222,458 is expected to close within 3 business days after the receipt of approvals from the TSX Venture Exchange. Evenergy will also have the right to nominate one director to the board of directors of the Corporation and the right to participate in future equity issuances of the Corporation to maintain its pro rata interest on the terms set out in the investment agreement. Point Loma is very pleased to have added Kevin R. Baker, Q.C., to the Corporation's Board of Directors subject to the approval of the Corporations shareholders at our upcoming Annual and General meeting. Mr. Baker is a significant shareholder of Point Loma with ownership of approximately 17% of the Corporation's common shares. Mr. Baker has been President and CEO of a number of public and private exploration and production and oilfield services companies. It is anticipated that he will join the Audit and Corporate Governance and Compensation committees of Point Loma. With the injection of the additional capital outlined above Point Loma is planning to undertake a busy drilling and facilities program this summer. The Corporation has approved a capital budget for the second and third quarters that will see approximately $5 million of activity including the drilling of 2 horizontal development wells, one vertical exploratory test and additional facilities optimization and acquisitions. Point Loma anticipates that these activities will be the precursor to an increase in oil and gas production into the fourth quarter. Pending success and approved capital programs Point Loma would anticipate a further program of drilling in the fourth quarter. Point Loma has been in contact with an industry midstream operator regarding their announced purchase of the Paddle River gas facility and infrastructure system. Point Loma has previously producing suspended wells in the area that could be re-activated into the facility. "Point Loma is excited to begin our 2017 drilling and operational cycle," said Terry Meek, President and CEO of Point Loma. "The combination of additional capital, development drilling, identified tuck in opportunities and potential re-activation of key infrastructure in our core area provides the impetus for a growth step and operational improvements for Point Loma that would benefit our production levels while improving our netbacks through lower operating costs." Point Loma has filed its first quarter financial statements, Management's Discussion and Analysis (MD&A) and Annual Information Form (AIF) for the quarter ended March 31, 2017 with Canadian securities regulators. These filings, and additional information including the Corporation's recently updated corporate presentation can be found at Point Loma's website at www.pointloma.ca or at Point Loma's profile on the System for Electronic Document Analysis and Retrieval website at www.sedar.com. Point Loma is a public oil and gas development and exploration company focused on horizontally exploiting conventional oil and gas reservoirs in west central Alberta. Point Loma's business plan is to utilize its experience to drill, develop and acquire accretive assets with potential for implementation of horizontal multi-stage frac technology and exploit opportunities for secondary recovery. This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws, including without limitation, statements pertaining to Point Loma's expectations as to production and future potential production increases, as well as increases in cash flow and the timing thereof; future gas processing rates; Point Loma's expectations as to future prices of oil and natural gas; the focus of Point Loma's management team and go-forward strategy. The use of any of the words "will", "expects", "believe", "plans", "potential" and similar expressions are intended to identify forward-looking statements or information. Although Point Loma believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Point Loma cannot give assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve and resource estimates; the inability of Point Loma to bring additional production on stream or in the anticipated quantities disclosed herein; the uncertainty of estimates and projections relating to reserves, resources, production, costs and expenses; health, safety and environmental risks; commodity price and exchange rate fluctuations; marketing and transportation; loss of markets; environmental risks; competition; incorrect assessment of the value of acquisitions; failure to realize the anticipated benefits of acquisitions; ability to access sufficient capital from internal and external sources; changes in legislation, including but not limited to tax laws, royalties and environmental regulations, actual production from the acquired assets may be greater or less than estimates. Management has included the above summary of assumptions and risks related to forward-looking information provided in this press release in order to provide security holders with a more complete perspective on Point Loma's future operations and such information may not be appropriate for other purposes. The forward-looking statements and information contained in this press release are made as of the date hereof and Point Loma does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. "BOEs" may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (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. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value. The Corporation utilizes certain measurements that do not have a standardized meaning or definition as prescribed by IFRS and therefore may not be comparable with the calculation of similar measures by other entities, including cash from (used) in operating activities and netback. Readers are referred to advisories and further discussion on non-GAAP measurements contained in the Corporation's MD&A.


News Article | April 12, 2016
Site: motherboard.vice.com

A “crusade of crabs” isn’t technically the correct collective noun for the ocean-dwelling crustaceans (for the record, it’s “cast”), but I propose that it should be. At least with special regard to this mesmerizing footage of thousands of determined pelagic red crabs (Pleuroncodes planipes) swarming in unison across the seafloor. The miraculous feat of nature was captured on film by a team of biologists off Panama’s Pacific coast at the Hannibal Bank seamount. Jesús Pineda, a senior scientist at the Woods Hole Oceanographic Institution, was aboard the the manned submersible Deep Rover 2 at a depth of approximately 1,263 feet when he and his crew spotted the swarm. As the newly released video reveals, thousands of crabs were filmed moving in sync with one another, seemingly away from and toward nothing. “It was unusual. In the past, we’ve noticed aggregations of breeding crabs hanging around the ocean floor, or migrating onto land if they’re terrestrial. But these particular crabs weren’t responding to food, or migrating, or reproducing. This was something different,” Pineda told me about the event. The team of biologists, which included staff from Point Loma Nazarene University, San Francisco Estuary Institute, and the Smithsonian Tropical Research Institute, were researching the hotspots of diversity found on Panama’s nutrient-rich underwater seamounts. Less than one percent of these ecosystems have been studied, but they’re of special interest to biologists because their high levels of biomass present exciting opportunities for new discoveries and insights into how deep-water organisms thrive. Pineda removed a few specimens from the swarm, and using DNA sequencing he was able to determine the species as the red crab. Named for their striking color, these crustaceans are also sometimes called “tuna crabs” due to their tendency to feed on yellowfin tuna. As to why this underwater murmuration might’ve occurred, Pineda and his colleagues are still looking for a definitive answer. One potential theory has to do with the feeding behavior of this species of crab. Red crabs have been observed moving up and down in the “water column”—a term used to describe the various ecological features of different ocean strata—to find and eat prey. “People have described schools of crabs six miles long in the water column. Some of these crabs have been reported to migrate vertically, which means that during the day, they can be found on the bottom of the ocean in the sediment. But at night, they ascend in the water column to feed on copepods and plankton near the surface. One possibility about this swarm is that it’s a school of crabs that’s just sitting on the bottom during the day,” Pineda told me. This particular area off the Panama coast features especially "hypoxic" (low oxygen) water levels, according to a statement. Red crabs have been detected in hypoxic areas before, and it’s also possible the swarm was seeking refuge from predators in a habitat where few predatory species are able to survive. Scientists not affiliated with the expedition have theorized that El Niño conditions may have contributed to the phenomenon. Thousands of red crabs have washed up on beaches in San Diego in the past, and have been positively linked to increased ocean temperatures. But according to Pineda, this explanation doesn’t describe what he saw at the Hannibal Bank seamount. “Red crabs are very abundant in southern Baja California. People have noticed during El Niño years that ocean currents change and cause the mass transport of water [in a northerly direction],” he explained to me. "With that, larvae is also transferred, resulting in huge schools of crabs that suddenly show up in southern California. But I don’t see a mechanism for El Niño explaining what we observed. At the time of the cruise one year ago, a full El Niño had not been declared." Pineda said he and his colleagues hope to eventually discover what was driving the exodus of thousands of red crabs that day. The team has just published their findings from last year’s expedition in the journal PeerJ. Their plan is to return to the Hannibal Bank seamount and continue their research on the ecosystem’s astounding levels of biodiversity. And who knows—maybe they’ll get lucky enough to come across another crusade of crabs. Or maybe we’ll just all have to chalk this up as being another one of the ocean’s many great mysteries.


News Article | February 21, 2017
Site: www.eurekalert.org

RIVERSIDE, Calif. -- A team of scientists, led by a group at the University of California, Riverside, has received a five-year, $5.1 million grant from the U.S. Department of Agriculture to fight a disease that is devastating the citrus industry. The team, led by Caroline Roper, an associate professor of plant pathology, will design and identify bactericides, which are chemicals that kill bacteria, to target Huanglongbing, a bacterial plant disease decimating citrus trees worldwide. They will also focus on better understanding the pathways those bactericides travel inside citrus trees. Huanglongbing, which has devastated citrus trees in Asia and South America, was detected in Florida in 2005 and has since led to a 75 percent decline in the Florida's $9 billion citrus industry. Fifteen U.S. States or territories are under full or partial quarantine due to the presence of the Asian citrus psyllid, an insect which feeds on citrus trees and -- in doing so -- transmits Huanglongbing. Past research has identified the bacterium Candidatus Liberibacter asiaticus or CLas associated with Huanglongbing that is killing citrus trees. But, it has proved difficult to deliver bactericides to the phloem, the part of the citrus tree where the harmful bacteria resides. The UC Riverside team will analyze phloem transit routes that bactericides take when introduced through common application methods, such as trunk injection or leaf or root applications. They will also continue to develop a new delivery system for use in field citrus trees. The delivery system targets the branches and petioles, which are the stalk that join a leaf to a stem. The idea is based on previous work that indicates that this is an effective and efficient way to tap into and introduce material into phloem tissue, a tissue that is hard to access. They will also conduct fluorescent tracer experiments that map phloem transport pathways in citrus and harness that information to predict and test the routes that bactericides take when introduced. This will yield information about the routes bactericides travel when administered through delivery methods used by growers and the branch/petiole feeding technique. The researchers will develop two classes of bactericides, the first based on mining anti-CLas compounds naturally produced by microbes that inhabit Huanglongbing survivor trees in Florida, and the second based on silver and sulfur nanoparticles. Finally, the researchers will also undertake an extension and outreach program for citrus growers and non-commercial citrus growers (homeowners and hobbyists). They will also perform an economic cost-benefit analysis for adoption of these treatments in the commercial citrus industry. In addition to Roper, the following UC Riverside scientists are involved: James Borneman, Philippe Rolshausen, David Jassby, Georgios Vidalakis, and Haizhou Liu. And, the following researchers from other institutions are involved: Robert Turgeon (Cornell University); Katherine Maloney (Point Loma Nazarene University); Pieter Dorrestein (UC San Diego); Greg McCollum (U.S. Department of Agriculture), and Jonathan Kaplan (CA State University, Sacramento). The grant is one of four given by the U.S. Department of Agriculture's National Institute of Food (NIFA) and Agriculture to combat Huanglongbing. The funding is made possible through NIFA's Specialty Crop Research Initiative Citrus Disease Research and Extension Program, authorized by the 2014 Farm Bill.


CALGARY, AB--(Marketwired - February 27, 2017) - Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or "Point Loma") is pleased to report the results of its 2016 year-end reserves as evaluated by McDaniel and Associates Ltd. ("McDaniel") and provide an update of operations and acquisitions: As per the subsequent tables of reserves and values for Point Loma, Judy Creek (proposed closing late February 2017) properties and the properties of Ascent Energy Ltd. that have been amalgamated into Point Loma, the Corporation has prepared the following summary tables of reserves and values. The summary tables are illustrative of the potential combined reserves of the Corporation upon closing of the Judy Creek property acquisition but have been evaluated separately for Point Loma by McDaniel and not included in the Point Loma 2016 year-end evaluation (summarized later in this release as "Summary of Corporate Reserves") due to timing of the two acquisitions occurring post year-end 2016. The following table is a summary of the combined estimated reserves as at December 31, 2016, based on the McDaniel reserve estimates of Point Loma, the Judy Creek properties and Ascent. Net Present Values of Future Net Revenue Before Income Taxes Discounted at (%/year) (1)(2)(3)(4) The following table is a summary of the estimated reserves as at December 31, 2016, based on the McDaniel report. Net Present Values of Future Net Revenue Before Income Taxes Discounted at (%/year) (1)(2)(3)(4) The following table is a summary of the estimated net present values of future net revenue (before income taxes) associated with Point Loma's reserves as at December 31, 2016. The following table summarizes McDaniel's commodity price forecast and foreign exchange rate and inflation rate (1) assumptions as at December 31, 2016, as applied in the McDaniel report. Point Loma has entered into an agreement to acquire certain assets in the Judy Creek and Thornbury areas of Alberta. The transaction is anticipated to close in late February 2017 and is subject to standard closing conditions and the subsequent Alberta Energy Regulator approval of the transfer of licenses. The following is a summary of the reserve evaluation prepared by McDaniel for Point Loma as at December 31, 2016. The following table is a summary of the estimated acquired reserves as at December 31, 2016, based on the McDaniel preliminary report. Net Present Values of Future Net Revenue Before Income Taxes Discounted at (%/year) (1)(2)(3)(4) The following table is a summary of the estimated net present values of future net revenue (before income taxes) associated with the acquired property reserves as at December 31, 2016. Point Loma has completed a transaction to acquire the corporation Ascent and has amalgamated Ascent into Point Loma effective January 24, 2017. The following is a summary of the reserve evaluation prepared by McDaniel for Point Loma as at December 31, 2016. The reserves were not part of the Point Loma year end evaluation due to the timing of the acquisition. The following table is a summary of the estimated acquired reserves as at December 31, 2016, based on the McDaniel preliminary report. Net Present Values of Future Net Revenue Before Income Taxes Discounted at (%/year) (1)(2)(3)(4) The following table is a summary of the estimated net present values of future net revenue (before income taxes) associated with the acquired Ascent property reserves as at December 31, 2016. Point Loma has entered into an agreement to acquire certain properties in the Judy creek and Thornbury areas that will expand our Paddle River focus area and add significant reserves and production. With the addition of these properties Point Loma will be producing approximately 900 boe/d and will have an additional estimated 450 boe/d of behind pipe production. Re-activating this production will be the focus of first half 2017 activity. Point Loma will continue to seek deals that strengthen our cash flow per share and reserves per share. In addition Point Loma is working to license wells for drilling in 2017 to further develop existing oil pools and test additional bypass pay opportunities. Point Loma now has approximately 225,000 net acres and a large inventory of indicated prospects that can allow the Corporation to grow quickly as we gain scale and better valuation in capital markets. Point Loma's 2016 year-end reserves evaluation was prepared by, the Corporation's independent qualified reserves evaluator, in accordance with definitions, standards and procedures contained in the Canadian Oil and gas Evaluation Handbook and National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). Additional information regarding the Corporation's reserve data and other oil and gas information will be included in the Corporation's Annual Information Form ("AIF") for the year ended December 31, 2016, which will be filed under the Corporation's profile at www.sedar.com on or about March 31, 2017. See also cautionary statements below for further explanations and discussions. Point Loma is a public oil and gas development and exploration company focused on horizontally exploiting conventional oil and gas reservoirs in west central Alberta. Point Loma's business plan is to utilize its experience to drill, develop and acquire accretive assets with potential for horizontal multi-stage frac technology and exploit opportunities for secondary recovery. For more information and our current presentation please visit Point Loma's website at www.pointloma.ca or Point Loma's profile on the System for Electronic Document Analysis and Retrieval website at www.sedar.com. This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws, including without limitation, statements pertaining to Point Loma's expectations as to production and future potential production increases, as well as increases in cash flow and the timing thereof; future gas processing rates; Point Loma's expectations as to future prices of oil and natural gas; the focus of Point Loma's management team and go-forward strategy. The use of any of the words "will", "expects", "believe", "plans", "potential" and similar expressions are intended to identify forward-looking statements or information. Although Point Loma believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Point Loma cannot give assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve and resource estimates; the inability of Point Loma to bring additional production on stream or in the anticipated quantities disclosed herein; the uncertainty of estimates and projections relating to reserves, resources, production, costs and expenses; health, safety and environmental risks; commodity price and exchange rate fluctuations; marketing and transportation; loss of markets; environmental risks; competition; incorrect assessment of the value of acquisitions; failure to realize the anticipated benefits of acquisitions; ability to access sufficient capital from internal and external sources; changes in legislation, including but not limited to tax laws, royalties and environmental regulations, actual production from the acquired assets may be greater or less than estimates. Management has included the above summary of assumptions and risks related to forward-looking information provided in this press release in order to provide security holders with a more complete perspective on Point Loma's future operations and such information may not be appropriate for other purposes. The forward-looking statements and information contained in this press release are made as of the date hereof and Point Loma does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. "BOEs" may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (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. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

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