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News Article | May 8, 2017
Site: news.yahoo.com

FILE - In this file photo dated Jan. 20, 1961, U.S. President John F. Kennedy delivers his inaugural address at Capitol Hill in Washington, D.C., after taking the oath of office. Wealthy senator and war hero Kennedy was 43-years old when he took the oath of office to the presidency of the United States. (AP Photo, FILE) PARIS (AP) — Emmanuel Macron, who is 39 years old, will join the ranks of the world's youngest leaders when he is inaugurated as president of France on Sunday. Other leaders past and present, elected and otherwise, were even younger when they came to power. Among the leaders who were under 45 when they took office are: The late Libyan leader was 27 when he seized power in 1969. The dictator held on to power until he was ousted in 2011. He was captured and killed a few months later. The Cuban revolutionary leader, who died last year, was 32 when his rebel forces took control of Cuba. He ruled for nearly five decades as one of the world's last communist leaders. The North Korean leader is quite possibly the world's youngest ruler. But, like so much about his country, his exact age remains something of a mystery. He is thought to be 32 or 33. Kim, the third generation in North Korea's ruling dynasty, assumed power in December 2011 upon the death of his father, Kim Jong Il. Ortega was 33 when he became a leader of the junta that ran Nicaragua after the Sandinista revolution ousted dictator Anastasio Somoza in July 1979. In November 1984, just before his 39th birthday, Ortega was elected president. He was voted out in 1990 and then won re-election in 2006, 2011 and 2016. Nasser was 38 when he became president of Egypt in 1956. He nationalized the Suez Canal and championed the pan-Arab cause, becoming one of the world's most prominent anti-imperialist figures by the time of his death in 1970. In Iceland, Gunnlaugsson became prime minister at 38 in 2013. He resigned in 2016 after details of his offshore financial holdings were revealed in the Panama Papers leak. Gandhi was catapulted to India's highest office at age 40 when his mother, Prime Minister Indira Gandhi, was assassinated in 1984. He began his premiership with promises of modernizing India's creaking government. Within a few years, he was forced to resign amid allegations of taking bribes in an arms deal. He was assassinated in 1991 while campaigning to return to office. Ataturk, the revered founder of the Republic of Turkey, was 42 when he became the country's first president in 1923. The revolutionary leader's last name means "Father of the Turks." Kennedy was the youngest person ever elected to the presidency of the United States. The wealthy senator and war hero was 43 when he took the oath of office in 1961. But he was not the youngest U.S. president ever — that was Theodore Roosevelt, who was 42 when he took over after the assassination of President William McKinley. Trudeau was elected as Canada's prime minister in 2015, when he was 43. Like Rajiv Gandhi, he had a strong family connection to the office. His father, Pierre Trudeau, also served as prime minister. Blair was 43 when he was elected Britain's prime minister in 1997 — the country's youngest leader since 42-year-old Lord Liverpool in 1812. Cameron was also 43, but a few months younger than Blair, when he became Britain's leader in 2010. Things did not end well for either: Blair led the Labour Party to three straight victories, but was discredited for joining the U.S.-led invasion of Iraq. Cameron resigned last year after failing to convince Britons to remain in the European Union.


News Article | April 16, 2017
Site: news.yahoo.com

Supporters of Justice and Development party (AK) wave Turkish flags and hold a poster of Turkish President Recep Tayyip Erdogan outside its offices in Istanbul, Sunday, April 16, 2017. Voting has ended in Turkey's historic referendum on whether to approve constitutional changes that would greatly expand the powers of Erdogan and the result will determine Turkey's long-term political future and will likely have lasting effects on its relations with the European Union and the world. (AP Photo/Emrah Gurel) ISTANBUL (AP) — Turkish President Recep Tayyip Erdogan declared victory in Sunday's referendum that will grant sweeping powers to the presidency, hailing the result as a "historic decision." Speaking to reporters in Istanbul, Erdogan said unofficial results showed the "yes" side had won by a margin of 1.3 million votes. The president struck a conciliatory tone, thanking all voters regardless of how they cast their ballots and describing the referendum as a "historic decision." "April 16 is the victory of all who said yes or no, of the whole 80 million, of the whole of Turkey of 780,000-square kilometers," Erdogan said. Returns carried by the state-run Anadolu news agency showed that with nearly 99 percent of the vote counted, the "yes" vote had about 51.3 percent compared to 48.7 percent for the "no" vote. Turkey's main opposition party vowed to challenge the results reported by Anadolu agency, saying they were skewed. Erdogan has long sought to broaden his powers, but a previous attempt failed after the governing party that he co-founded fell short of enough votes to pass the reforms without holding a referendum. Opponents argued the plan concentrate too much power in the hands of a man they allege has shown increasingly autocratic tendencies. The outcome is expected to have a huge effect on Turkey's long-term political future and its international relations. Although the result, if officially confirmed, would fall short of the sweeping victory Erdogan had sought, but nevertheless cements his hold on the country's governance. Prime Minister Binali Yildirim, whose position will be eliminated under the presidential system of government called for in the referendum, also welcomed the results and extended a hand to the opposition. "We are all equal citizens of the Republic of Turkey," he said. "Both the ones who said 'no' and the ones who said 'yes' are one and are equally valuable." "There are no losers of this referendum. Turkey won, the beloved people won," Yildirim said, adding that "a new page has opened in our democratic history with this vote. Be sure that we will use this result for our people's welfare and peace in the best way." Erdogan supporters gathered outside the AK Party headquarters in Istanbul to celebrate, sending fireworks into the night sky. But the main opposition People's Democratic Party, or CHP, cast doubt on the results. CHP vice chairman Erdal Aksunger said they would challenge 37 percent of the ballot boxes. "Our data indicates a manipulation in the range of 3 to 4 percent," the party said on its Twitter account. The country's pro-Kurdish opposition party, which also opposed the constitutional changes, said it plans to object to two-thirds of the ballots. An unprecedented decision by Turkey's Supreme Election board to accept as valid ballot papers that don't have the official stamp also drew the ire of the CHP, with the party's deputy chairman, Bulent Tezcan, saying the decision had left the referendum "with a serious legitimacy problem." The board made the announcement after many voters complained about being given ballot papers without the official stamp, saying ballots would be considered invalid only if proven to have been fraudulently cast. Sunday's vote approved 18 constitutional changes that will replace Turkey's parliamentary system of government with a presidential one, abolishing the office of the prime minister and granting sweeping executive powers to the president. The changes will come into effect with the next general election, scheduled for 2019. The reforms allow the president to appoint ministers, senior government officials and half the members of Turkey's highest judicial body, as well as to issue decrees and declare states of emergency. They set a limit of two five-year terms for presidents and also allow the president to remain at the helm of a political party. Erdogan and his supporters had argued the "Turkish-style" presidential system would bring stability and prosperity in a country rattled by a failed coup last year that left more than 200 people dead, and a series of devastating attacks by the Islamic State group and Kurdish militants. But opponents fear the changes will lead to autocratic one-man rule, ensuring that the 63-year-old Erdogan, who has been accused of repressing rights and freedoms, could govern until 2029 with few checks and balances. The ballots themselves did not include the referendum question — it was assumed to be understood. Voters used an official stamp to select between "yes" and "no." At one Istanbul polling station, eager voters lined up outside before it opened at 8 a.m. "I don't want to get on a bus with no brake system. A one-man system is like that," said Istanbul resident Husnu Yahsi, 61, who said he was voting "no." In another Istanbul neighborhood, a "yes" voter expressed full support for Erdogan. "Yes, yes, yes! Our leader is the gift of God to us," said Mualla Sengul. "We will always support him. He's governing so well." Erdogan first came to power in 2003 as prime minister and served in that role until becoming Turkey's first directly elected president in 2014. The referendum campaign was divisive and heavily one-sided, with the "yes" side dominating the airwaves and billboards across the country. Supporters of the "no" vote have complained of intimidation, including beatings, detentions and threats. The vote comes as Turkey has been buffeted by problems. Erdogan survived a coup attempt last July, which he has blamed on his former ally and current nemesis Fethullah Gulen, an Islamic cleric living in the United States. Gulen has denied knowledge of the coup attempt. Still, a widespread government crackdown has targeted followers of Gulen and other government opponents, branding them terrorists and a state of emergency has been imposed. Roughly 100,000 people — including judges, teachers, academics, doctors, journalists, military officials and police — have lost their jobs in the government crackdown, and more than 40,000 have been arrested. Hundreds of media outlets and non-governmental organizations have been shut down. Turkey has also suffered renewed violence between Kurdish militants and security forces in the country's volatile southeast, as well as a string of bombings, some attributed to the Islamic State group, which is active across the border in Syria. The war in Syria has led to some 3 million refugees crossing the border into Turkey. Turkey has sent troops into Syria to help opposition Syrian forces clear a border area from the threat posed by Islamic State militants. Meanwhile, Turkey's relations with Europe have been increasingly tense, particularly after Erdogan branded Germany and the Netherlands as Nazis for not allowing Turkish ministers to campaign for the "yes" vote among expatriate Turks. Fraser reported from Ankara. Bram Janssen in Istanbul and Mucahit Ceylan in Diyarbakir also contributed to this report.


News Article | April 16, 2017
Site: news.yahoo.com

Turkey's President Recep Tayyip Erdogan makes statements in Istanbul, on Sunday, April 16, 2017. Erdogan declared victory in Sunday's historic referendum that will grant sweeping powers to the presidency, hailing the result as a "historic decision." (AP Photo/Lefteris Pitarakis) ISTANBUL (AP) — Rising from humble origins to take the helm of Turkey's government in 2003, Recep Tayyip Erdogan quickly attracted a fervent following. But Erdogan, who served as prime minister and then president, also became feared and hated by many who saw him as an increasingly autocratic leader seeking to erode the country's secular traditions by imposing his conservative, religious views. Constitutional changes that would change the country's system of government from parliamentary to presidential — and grant Erdogan even more authority — were narrowly approved by Turkey's voters on Sunday, according to unofficial results from the country's election commission. The changes, one of the most radical political reforms since the Turkish republic was established in 1923, could see the 63-year-old president remain in power until 2029. The vote's outcome reinforced Erdogan's image as a figure both popular and polarizing. While thousands of flag-waving supporters cheered the referendum's approval, political opponents immediately questioned the legitimacy of the balloting and said they intended to challenge a sizeable share of the count. Erdogan served three consecutive terms as prime minister as head of his Islamic-rooted Justice and Development Party, before becoming Turkey's first directly elected president in 2014. Supporters found in him a man who gave a voice to the working- and middle-class religious Turks who long had felt marginalized by the country's Western-leaning elite. He was seen to have ushered in a period of stability and economic prosperity, building roads, schools, hospitals and airports in previously neglected areas, transforming hitherto backwaters. "He's a real leadership figure because he is not a politician that comes from the outside. He comes from the street," Birol Akgun, an international relations expert at Ankara's Yildirim Beyazit University, said. "He has 40 years of political experience and is very strong in practical terms." But with each election win, Erdogan grew more powerful, and, his critics say, more authoritarian. His election campaigns have been forceful and bitter, with Erdogan lashing out at his opponents, accusing them of endangering the country and even supporting terrorism. After surviving an attempted coup last July, Erdogan launched a wide-ranging crackdown on followers of his former ally, Islamic cleric Fethullah Gulen. Erdogan blames Gulen, who lives in the United States, and his supporters for plotting the coup, an allegation Gulen has denied. The crackdown saw roughly 100,000 people lose their jobs, including judges, lawyers, teachers, journalists, military officers and police. More than 40,000 people have been arrested and jailed, including pro-Kurdish lawmakers. Hundreds of non-governmental organizations and news outlets have been shut down, as have many businesses, from schools to fertility clinics. Erdogan has also blasted European countries, accusing authorities in the Netherlands and Germany of being Nazis for refusing to allow Turkish ministers to campaign for Sunday's referendum among expatriate voters. His critics fear that if the "yes" vote prevails in the referendum, Erdogan will cement his grip on power within a system that has practically no room for checks and balances, opposition or dissent. "One person will determine national security policies, according to the constitutional changes. Why one person? What if he makes a mistake? What if he is deceived? What if he is bought?" said Kemal Kilicdaroglu, head of the main opposition Republican People's Party, during a "no" rally in Ankara Saturday. "Surrendering the Republic of Turkey to one person is a heavy sin. It's very heavy," Kilicdaroglu continued. "Can there be a state without rights and justice?" As prime minister, Erdogan garnered support from Turkey's Kurdish minority, which is estimated to make up about one-fifth of the country's population of 80 million people. He eased restrictions on the right to be educated in Kurdish and to give children Kurdish names. He also oversaw a fragile cease-fire in the fight between the state and Kurdish rebels in the country's southeast, a conflict that has claimed an estimated 40,000 lives since 1984. But the cease-fire collapsed in 2015, and about 2,000 people have died since then, including nearly 800 members of the security forces. With renewed fighting in the southeastern predominantly Kurdish areas, it is unclear whether Erdogan still would have much support from the Kurdish community. Erdogan has promised the new presidential system will herald a period of stability and prosperity for Turkey, a country that has suffered several coups in the past few decades. "He is a harsh leader in character," said Ankara academic Akgun, who used to head a pro-government NGO. "But in Turkey, a country that has so many problems, in societies like ours, the image of strong leadership is necessary to command both fear and respect and trust in society."


OTTAWA, ON--(Marketwired - May 04, 2017) - The Canadian Steel Producers Association (CSPA) welcomes the Canadian International Trade Tribunal (CITT)'s recent finding that the dumping of concrete reinforcing bar originating in or exported from the Republic of Belarus, Chinese Taipei, the Hong Kong Special Administrative Region of the People's Republic of China, Japan, the Portuguese Republic and the Kingdom of Spain has caused injury to the domestic industry. As a result of this finding, duties imposed by the Canada Border Services Agency (CBSA) in their final determination issued on April 3, 2017 will remain in place. The CBSA investigation was initiated in response to a complaint filed by Canadian producers ArcelorMittal Long Products Canada, G.P., Gerdau Ameristeel Corporation and AltaSteel Ltd. "We continue to appreciate CBSA's and the CITT's commitment through the investigation and public hearing process to ensuring that fair trade in imports of rebar will be respected," said CSPA President Joseph Galimberti. "It is essential for domestic steel producers and their employees, that market-based competition in Canada is preserved. This is an important outcome for the 22,000 Canadians employed directly and the 100,000 employed indirectly in steel." The CSPA also welcomes the CBSA's re-investigation to update the normal values and export prices respecting certain concrete reinforcing bar originating in or exported from the People's Republic of China (China), the Republic of Korea and the Republic of Turkey, as well as the amount of subsidy of certain concrete reinforcing bar originating in or exported from China, in accordance with the Special Import Measures Act (SIMA). This reinvestigation, initiated on May 1, 2017 and concluding by September 1, 2017, will also include an inquiry pursuant to section 20 of SIMA respecting the steel industry in China. Several recent section 20 inquiries on the Chinese steel industry by the CBSA have indicated that the domestic prices for rebar in China are substantially determined by the Government of China (GOC) and as a result, there is sufficient reason to believe that these prices are not substantially the same as they would be if they were determined in a competitive market. The CSPA also notes that the reinvestigation will consider, in cases where changes occurred in domestic prices, market conditions or costs associated with the production and sales of the subject goods, or amounts of subsidy received, the responsibility of concerned parties to inform the CBSA of such changes in writing and in a timely manner. If the reinvestigation finds that concerned parties do not or did not properly notify the CBSA of substantial changes, or if they did not provide the information required to make any necessary adjustments to values, retroactive assessments of anti-dumping or countervailing duties may be issued. The CBSA noted in its Notice of Reinvestigation that Agency has indications that substantial changes may have occurred during the period of investigation (October 1, 2016 to March 31, 2017) and that they were not advised by the exporters of these changes as required. If these substantial changes are confirmed by the CBSA during the re-investigation, retroactive assessments will be applied and impacted parties will be notified of such a decision. The CSPA and its member companies believe in fair and effective enforcement of trade remedy laws which support Canada's ability to quickly respond to dumped and subsidized imports. As such, we believe this reinvestigation, allowing for the application of retroactive duties if warranted, to be an important step in ensuring the fair trade of steel products in Canada. "Our membership will continue to monitor and vigorously defend against unfairly traded, dumped and subsidized steel products," said Galimberti. "The recent improvements that the Government of Canada has made to our trade remedy framework are very helpful, and we look forward to further legislative enhancements to address unfair trade in Canada, as announced in Budget 2017, coming into force in the near term." The Canadian Steel Producers Association (CSPA) is the national voice of Canada's $14B steel industry. Our member companies annually produce approximately 13 million tonnes of primary steel as well as over 1 million tonnes of steel pipe and tube products in facilities located across Canada. Domestic steel operations directly employ some 22,000 Canadians while supporting an additional 100,000 indirect jobs.


News Article | October 31, 2016
Site: www.marketwired.com

CALGARY, AB--(Marketwired - October 31, 2016) - Condor Petroleum Inc. ("Condor" or the "Company") (TSX: CPI) is pleased to announce drilling results of the Poyraz 3 development well in Turkey. Based on wireline log interpretation, the Poyraz 3 well encountered a minimum 135 meters of net gas pay in multiple stacked reservoirs of Miocene (Kirazli and Gazhanedere sandstone formations) and Eocene (Sogucak carbonate formation) age. No gas-water contact was encountered in the basal Gazhanedere reservoirs and the gas-water contact in the Sogucak was confirmed to be at the structural spill-point of the Poyraz Ridge field. Don Streu, Condor's President and CEO, noted that, "Borehole imaging of the Sogucak carbonate in Poyraz 3 confirms the presence of an extensive network of fractures within the pay column which should serve to enhance flow performance. Our drilling results continue to be very encouraging as only 'gas down to' volumes were previously used by the independent reserve auditor to calculate existing Proved reserves. The advanced wireline logging techniques we've used continue to provide higher resolution and improved characterization of the multiple reservoirs within the Poyraz Ridge field." Production casing has been run and cemented on Poyraz 3 and completion and testing equipment will be mobilized once the drilling rig has moved. The next well to be drilled is Poyraz West 5, which is an appraisal well on a different drilling pad and is designed to test the northwestern extension of the Poyraz Ridge field. This region represents up to 30% of the mapped Poyraz Ridge trap closure area but currently has no reserves attributed to it. Condor is a Canadian based oil and gas company with a 100% working interest in four contiguous operating licenses covering 171 square kilometers located in the Gallipoli Peninsula in the Republic of Turkey, a 100% interest in the production rights to the Shoba and Taskuduk oilfields and a 100% interest in the exploration rights to the 3,777 square kilometer Zharkamys West 1 property located in the Pre-Caspian basin in the Republic of Kazakhstan. Condor is listed on the TSX under the symbol "CPI". All statements other than statements of historical fact may be forward-looking statements. Such statements are generally identifiable by the terminology used, such as "seek", "appear", "anticipate", "believe'', "intend", "expect", "plan", "estimate", "continue", "project", "predict", "budget", "outlook", "may", "will", "should", "could", "would" or other similar wording. Forward-looking statements in this news release include, but are not limited to information concerning; wireline log interpretations related to the Poyraz 3 well including determining net pay, the ability to identify and confirm the location of the gas-water contacts; the ability to confirm the presence of fractures and their impact on flow performance; the quality of the wireline resolution and ability to characterize reservoirs within Poyraz Ridge, the ability and timing to increase reserves based on Poyraz 3 drilling results, future well completion, testing and production results; the timing and ability to conduct completion and testing operations; the ability of the Poyraz 3 well to become a future gas producing well; the ability and timing of drilling the Poyraz West 5 well; historical production and testing rates may not be indicative of future production rates, capabilities or ultimate recovery; the timing and ability to develop the gas reserves, construct the required infrastructure and to commence producing and selling gas; the timing and ability to obtain various approvals for the Company's exploration and development activities; the expectations, timing and costs of exploration, appraisal and development activities; and funding future development and exploration activities. Statements relating to reserves are deemed to be forward looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described exist in the quantities predicted or estimated. The reserve estimates described herein are estimates only. The actual reserves may be greater or less than those calculated. Estimates with respect to reserves that may be developed and produced in the future are often based upon volumetric calculations, probabilistic methods and analogy to similar types of reserves, rather than upon actual production history. Estimates based on these methods generally are less reliable than those based on actual production history. Subsequent evaluation of the same reserves based upon production history will result in variations, which may be material, in the estimated reserves. "Proved" reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated Proved reserves. Forward-looking statements involve the use of certain assumptions that may not materialize or that may not be accurate and are subject to known and unknown risks and uncertainties and other factors, which may cause actual results or events to differ materially from those expressed or implied by such information. Condor's operations are also subject to certain other risks and uncertainties inherent with oil and gas operations and additional information on these and other factors that could affect Condor's operations and financial results. These factors are discussed in greater detail under Risk Factors - Risks Relating to the Company in Condor's Annual Information Form, which may be accessed through the SEDAR website (www.sedar.com). The Company believes that the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The Company does not undertake any obligation to update or to revise any of the forward looking information, except as required by applicable law. The TSX does not accept responsibility for the adequacy or accuracy of this news release.


CALGARY, AB--(Marketwired - December 15, 2016) - Condor Petroleum Inc. ("Condor" or the "Company") (TSX: CPI) is pleased to announce drilling results of the Poyraz West 5 appraisal well in Turkey. Poyraz West 5 successfully evaluated the down-thrown fault block or "footwall" of the Poyraz Ridge field. Importantly, this footwall represents up to 30% of the field's structural area but currently has no attributed reserves. Based on wireline logs, the well encountered 163 meters of net gas pay in multiple stacked reservoirs. Consistent with the recently drilled Poyraz 5 well (140 meters of net gas pay) and the Poyraz 3 well (135 meters of net gas pay), no gas water contact was penetrated in the Gazhanedere reservoirs. In the Sogucak reservoir, gas bearing intervals were present down to the basement rock without encountering a definitive gas water contact and include a newly discovered lower Sogucak interval. Production casing has been run and cemented and the well will be completed and tied-in prior to first gas, which remains on schedule for mid-2017. Don Streu, Condor's President and CEO noted, "The Poyraz West 5 well log results are very impactful as they identify gas pay in the previously untested footwall section with the additional benefit of a new lower Sogucak interval. When combined with the recently drilled Poyraz 5 appraisal well, the gas pools have been significantly extended beyond prior mapped reserves areas. We are very pleased with these positive results which should yield meaningful additional reserves." The drilling rig has moved to the Poyraz West 2 appraisal location which is a step-out testing the southwest extension of the field. This well will also evaluate the deeper Sogucak interval that was just discovered in Poyraz West 5 and is expected to reach total depth in January 2017. Completion and testing operations have commenced at Poyraz 3 with initial flow results expected in January 2017. As previously announced, this well identified the presence of an extensive facture network within the Sogucak carbonate, which should enhance flow performance and reserves. Condor is a Canadian based oil and gas company with a 100% working interest in four contiguous operating licenses covering 171 square kilometers located in the Gallipoli Peninsula in the Republic of Turkey, a 100% interest in the production rights to the Shoba and Taskuduk oilfields and a 100% interest in the exploration rights to the 3,777 square kilometer Zharkamys West 1 property located in the Pre-Caspian basin in the Republic of Kazakhstan. Condor is listed on the TSX under the symbol "CPI". All statements other than statements of historical fact may be forward-looking statements. Such statements are generally identifiable by the terminology used, such as "seek", "appear", "anticipate", "believe", "intend", "expect", "plan", "estimate", "continue", "project", "predict", "budget", "outlook", "may", "will", "should", "could", "would" or other similar wording. Forward-looking statements in this news release include, but are not limited to information concerning; wireline log interpretations including determining net pay, the ability to identify gas bearing intervals, and the ability to identify and confirm the location of the gas-water contacts; the ability to confirm the presence of fractures and their impact on flow performance; the ability and timing to increase reserves based on drilling results, future well completion, testing and production results; the ability to map reserves areas; the ability of the drilled wells to become future gas producing wells; the timing and ability to conduct completion and testing operations; the ability and timing to conduct drilling operations; the timing and ability to develop the gas reserves, construct the required infrastructure and to commence producing and selling gas; historical production and testing rates may not be indicative of future production rates, capabilities or ultimate recovery; the timing and ability to obtain various approvals for the Company's exploration and development activities; the expectations, timing and costs of exploration, appraisal and development activities; and funding future development and exploration activities. Statements relating to reserves are deemed to be forward looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described exist in the quantities predicted or estimated. The reserve estimates described herein are estimates only. The actual reserves may be greater or less than those calculated. Estimates with respect to reserves that may be developed and produced in the future are often based upon volumetric calculations, probabilistic methods and analogy to similar types of reserves, rather than upon actual production history. Estimates based on these methods generally are less reliable than those based on actual production history. Subsequent evaluation of the same reserves based upon production history will result in variations, which may be material, in the estimated reserves. "Proved" reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated Proved reserves. Forward-looking statements involve the use of certain assumptions that may not materialize or that may not be accurate and are subject to known and unknown risks and uncertainties and other factors, which may cause actual results or events to differ materially from those expressed or implied by such information. Condor's operations are also subject to certain other risks and uncertainties inherent with oil and gas operations and additional information on these and other factors that could affect Condor's operations and financial results. These factors are discussed in greater detail under Risk Factors -- Risks Relating to the Company in Condor's Annual Information Form, which may be accessed through the SEDAR website (www.sedar.com). The Company believes that the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The Company does not undertake any obligation to update or to revise any of the forward looking information, except as required by applicable law. The TSX does not accept responsibility for the adequacy or accuracy of this news release.


News Article | November 10, 2016
Site: www.marketwired.com

CALGARY, AB--(Marketwired - November 10, 2016) - Condor Petroleum Inc. ("Condor" or the "Company") (TSX: CPI) is pleased to announce the release of its Unaudited Interim Consolidated Financial Statements for the three and nine months ended September 30, 2016, together with the related Management's Discussion and Analysis. These documents will be made available under Condor's profile on SEDAR at www.sedar.com and on the Condor website at www.condorpetroleum.com. All financial amounts in this news release are presented in Canadian dollars, unless otherwise stated. In Turkey, the Poyraz 5 appraisal well was spud in late August and drilled to 1,879 meters and cased with 7" production casing. Based on wireline log interpretation, the well encountered over 140 meters of net gas pay in multiple stacked reservoirs of Miocene (Kirazli and Gazhanedere sandstone formations) and Eocene (Sogucak carbonate formation) age. No gas-water contact was encountered in the Gazhanedere and the gas-water contact in the Sogucak was confirmed to be located beneath the Company's mapped structural spill-point. There were also three new gas bearing zones encountered in the Gazhanedere that are not present in previous wells. Poyraz 5 results should have a positive impact on the Company's reserves as the 'gas down to' depth for the Gazhanedere is now deeper and the Sogucak is gas-filled to the structural spill point. Poyraz 5 also validates the Company's seismic interpretation, geologic modelling and petrophysical analysis. The Poyraz 3 development well was spud in October and drilled to 1,926 meters and cased with 7" production casing. Based on wireline log interpretation, the well encountered over 135 meters of net gas pay in the same multiple stacked reservoirs. Advanced borehole wireline imaging of the Sogucak carbonate in Poyraz 3 confirms the presence of an extensive network of fractures within the pay column which should serve to enhance flow performance while further adding to the Company's reserves. Equipment is being mobilized to the Poyraz 3 well to begin completion and testing operations. Completion and testing of Poyraz 5 will occur after Poyraz 3. The drilling rig has moved to a different drilling pad and is preparing to spud Poyraz West 5, which is another appraisal well and is designed to test the northern extension of the Poyraz Ridge field. This region represents up to 30% of the trap closure area but currently has no reserves attributed to it. Construction and procurement activities continue on the 15 MMscf/day Poyraz Ridge gas processing facility. Project costs and schedule uncertainties continue to decrease as the major components for the facility and gas sales pipeline have been purchased, contracted or tendered. Two gas compressors were recently installed and delivery of the refrigeration unit and inlet separator is expected in December. Regulatory approvals have been received for the gas sales pipeline routing and tie-in entry point and installation is planned to commence in the first quarter of 2017. Negotiations are underway for a gas sales agreement which is expected to be completed in the fourth quarter of 2016. The project continues to target first gas by mid-2017, providing access to cash flow from a region with strong domestic gas demand and pricing. Production in Kazakhstan resumed at the Shoba oilfield in September and at the Taskuduk oilfield in October after the respective production contracts were signed with the Government of Kazakhstan in the third quarter of 2016. The Company signed the first sales contract since commencing commercial production at the approximate wellhead price of $29 per barrel which, after deducting royalties, provides a netback of $28 per barrel. The combined production from Shoba and Taskuduk averaged over 600 barrels per day over the past 30 days. Planning is underway to drill additional Shoba horizontal wells in the second half of 2017. Condor is a Canadian based oil and gas company with a 100% interest in the exploration rights to the 3,777 square kilometer Zharkamys West 1 Territory located in the Pre-Caspian basin in the Republic of Kazakhstan and a 100% working interest in four contiguous production licenses covering 171 square kilometers located in the Gallipoli Peninsula in the Republic of Turkey. Condor is listed on the TSX under the symbol "CPI". All statements other than statements of historical fact may be forward-looking statements. Such statements are generally identifiable by the terminology used, such as "seek", "appear", "anticipate", "believe'', "intend", "expect", "plan", "estimate", "continue", "project", "predict", "budget", "outlook", "may", "will", "should", "could", "would" or other similar wording. Forward-looking statements in this news release include, but are not limited to, information concerning: information concerning: the timing and ability to mature drill-ready targets; the timing and ability to obtain various approvals for the Company's exploration and development activities; the expectations, timing and costs of exploration, appraisal and development activities including the cost of drilling future wells; historical oil and gas prices may not be indicative of future oil and gas prices; the timing and ability to develop the gas reserves, construct the required infrastructure and deliver first gas; wireline log interpretations including determining net pay, the ability to identify gas-water contacts, validate seismic interpretation / modeling and petrophysical analysis, determining that Poyraz Ridge is filled to the structural spill point and confirming the presence of fractures within the pay column and any impact thereof; the ability and timing to increase reserves based on drilling results, future well completion, testing and production results; the timing and ability to conduct completion and testing operations; the ability of the drilled wells to become future gas producing wells; the timing and ability to obtain future funding on favourable terms including through a credit facility; the timing and ability to access oil and gas pipelines and oil and gas domestic and export sales markets; and production results provided may not be indicative of future production rates, capabilities or ultimate recovery. Forward-looking statements involve the use of certain assumptions that may not materialize or that may not be accurate and are subject to known and unknown risks and uncertainties and other factors, which may cause actual results or events to differ materially from those expressed or implied by such information. Condor's operations are also subject to certain other risks and uncertainties inherent with oil and gas operations and additional information on these and other factors that could affect Condor's operations and financial results. These factors are discussed in greater detail under Risk Factors - Risks Relating to the Company in Condor's Annual Information Form, which may be accessed through the SEDAR website (www.sedar.com). The Company believes that the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The Company does not undertake any obligation to update or to revise any of the forward looking information, except as required by applicable law. The following is a summary of abbreviations used in this news release: The TSX does not accept responsibility for the adequacy or accuracy of this news release.


News Article | August 29, 2016
Site: www.materialstoday.com

Kordsa Global, a Turkish specialist in plastic reinforcement and Sabanci University, located near Istanbul, have combined their forces to open a composite technologies center of excellence. The opening ceremony of Composite Technologies Center of Excellence was held with the participation of the Prime Minister of the Republic of Turkey Binali Yildirim, Dr Faruk Özlü, the Minister of Science, Industry and Technology, Lütfi Elvan, the Minister of Development, Ahmet Arslan, the Minister of Transportation, Maritime Affairs and Communication, Fikri Isik, the Minister of National Defense, Güler Sabanci, the chairman of Sabanci Holding and Founding chairman of the board of trustees of Sabanci University and Professor Nihat Berker, the president of Sabanci University. The center will operate in the field of high-technology composite materials, with Kordsa Global’s production engineers and Sabanci University’s academic members and doctoral students working together to explore R&D and composite production. ‘As Kordsa Global and Sabanci University, we are taking a new initiative, in an area with crucial strategic importance for our country,’ said Sabanci. ‘We are embarking on a new journey to with which our country can make a difference with advanced technology, and even become a global power, a major player in the big league. Today, we are not only investing for tomorrow, but for the next 10-20-30 years of Turkey.’ This story is reprinted from material from Kordsa Global, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.


DALLAS, TX--(Marketwired - November 29, 2016) - Park Place Energy Inc. ( : PKPL) ("Park Place" or the "Company") has received the final regulatory approval to purchase three oil and gas exploration and production companies operating in Turkey owned by Tiway Oil BV ("Tiway"). With all required regulatory approvals now in hand, the Company and the seller are now working on the documentation to close the transaction. Closing is anticipated to occur later this year or in January 2017. As previously announced, in December 2015, the Park Place entered into a Share Purchase Agreement with Tiway to acquire the three subsidiaries of Tiway (the "Tiway Companies"). The Tiway Companies are oil and gas exploration and production companies operating in Turkey. They own interests in three producing oil and gas fields, one offshore and two onshore, as well as a number of exploration licenses and operate one of the onshore fields. The purchase price for the Tiway Companies is US $2.1 million. The effective date of the transaction is January 1, 2016. The transaction was subject to the satisfaction of several closing conditions, including the approval of Turkish gas marketing agency, the Energy Market Regulatory Authority of the Republic of Turkey, and the approval of the Turkish agency that regulates petroleum affairs, the General Directorate of Petroleum Affairs of the Ministry of Energy and Natural Resources of the Republic of Turkey, both of which have now been obtained. The Tiway Companies report that current production is about 300 Boe/d (year-to-date average 402 Boe/d) (barrels of oil equivalent per day). Approximately 2/3s of the production is gas (selling now at about $6.50 per mcf) and 1/3 of the production is oil (selling at a slight discount to Brent). The Company is planning operations to enhance gas production levels post-closing. In Bulgaria, the Company is still awaiting clearance to commence its license activities. In April 2014, the Company entered into a license agreement covering a coal bed methane play in Northeast Bulgaria. Prior to commencing work on the license, the Company secured the approval from the Bulgarian environmental agency of its work plans. This decision was appealed to an administrative court. The most recent administrative court proceedings appear favorable and it is anticipated a decision will be forthcoming in early 2017. Park Place Energy Inc. is an energy company engaged in the exploration for oil and natural gas. For further information, please see our website: www.parkplaceenergy.com or email us: contact@parkplaceenergy.com. This release contains forward-looking statements, which are based on current expectations, estimates, and projections about the Company's business and prospects, as well as management's beliefs, and certain assumptions made by management. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "may," "should," "will" and variations of these words are intended to identify forward-looking statements. Such statements speak only as of the date hereof and are subject to change. The Company undertakes no obligation to publicly revise or update any forward-looking statements for any reason. These statements include, but are not limited to, statements about the Company's expansion and business strategies and anticipated growth opportunities and the amount of fundraising necessary to achieve it. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Accordingly, actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. These factors include operational and geological risks, the ability of the Company to raise necessary funds for exploration; the fact that the Company does not operate all its properties; changes in law or governmental regulations, including tax and environmental requirements; the outcome of commercial negotiations; changes in technical or operating conditions; and other factors discussed from time to time in the Company's Securities and Exchange Commission filings, including but not limited to the most recently filed Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K.


MELBOURNE, Fla.--(BUSINESS WIRE)--Harris Corporation (NYSE:HRS) has been selected to supply a next-generation, VoIP communication system to support the Republic of Turkey’s air traffic management (ATM) services. Harris was chosen following a rigorous review by Devlet Hava Meydanlari Isletmesi (DHMI), Turkey’s air navigation service provider (ANSP). Harris will provide DHMI with its cloud-based Voice Communication System for the 21st Century (VCS21). The system modernizes ATM programs by delivering net-centric voice communications that reduce dependency on traditional point-to-point communications, while supporting an efficient transition to IP-based communications. It will be installed at seven facilities in Turkey, and will include more than 337 controller working positions that can access up to 52 radio sites across DHMI control operations. "The Harris VCS21™ system is now supporting three of the world’s premier ANSPs – Turkey’s DHMI, the U.K. NATS, and the U.S. FAA – that are at the forefront of modernizing ATM worldwide,” said Ed Sayadian, president, Harris Mission Networks. “VCS21 will be a key enabler of ATM modernization and growth worldwide.” The VCS21 system will be part of the Single European Sky ATM Research (SESAR) project, a collaborative initiative to modernize European airspace and air traffic control. DHMI plans to invest in new technologies to enable SESAR and other future concepts. VCS21 is a major step in this program, providing important networked voice capabilities that are more resilient and cost effective. It will enable dynamic rerouting of established flight sectors, provide more reliable contingency planning, and improved asset sharing that facilitates both flexible airspace use and future facility planning. Harris Corporation is a leading technology innovator, solving customers’ toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports government and commercial customers in more than 100 countries and has approximately $6 billion in annual revenue. The company is organized into three business segments: Communication Systems, Space and Intelligence Systems and Electronic Systems. Learn more at harris.com. This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the value or expected value of orders, contracts or programs are forward-looking and involve risk and uncertainties. Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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