Daily Archives: May 12, 2017

National Energy Services Reunited Corp. Announces Pricing of $210,000,000 Initial Public Offering

NEW YORK and HOUSTON, May 12, 2017 (GLOBE NEWSWIRE) — National Energy Services Reunited Corp. (Nasdaq:NESRU) (“NESR” or the “Company”), a company formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation, purchasing all or substantially all of the assets of, entering into contractual arrangements, or engaging in any other similar business combination with one or more businesses or entities, today announced the pricing of its initial public offering (“IPO”) of 21,000,000 units at a price to the public of $10.00 per unit.  The units are expected to be listed on The NASDAQ Capital Market (“NASDAQ”) under the symbol “NESRU” beginning May 12, 2017. Each unit issued in the IPO consists of one ordinary share and one warrant to acquire one-half of one ordinary share at a price of $11.50 per full share. Once the securities comprising the units begin separate trading, the ordinary shares and warrants are expected to be traded on Nasdaq under the symbols “NESR” and “NESRW”, respectively.

Maxim Group LLC and National Bank of Canada Financial Inc. are acting as joint book running managers for the IPO. NESR has granted the underwriters a 45-day option to purchase up to 3,150,000 additional units to cover over-allotments, if any.

The offering is being made only by means of a prospectus. When available, copies of the prospectus related to this offering may be obtained from Maxim Group LLC 405 Lexington Ave, New York, NY 10174, Attn: Prospectus Department or by Tel: (800) 724-0761.

A registration statement relating to the securities was declared effective by the SEC on May 11, 2017. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About NESR

NESR, led by Sherif Foda, is a blank check company, also commonly referred to as a Special Purpose Acquisition Company, or SPAC, formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation, purchasing all or substantially all of the assets of, entering into contractual arrangements, or engaging in any other similar business combination with one or more businesses or entities. The Company’s efforts to identify a target business will not be limited to a particular industry or geographic region, although we intend to focus our search on target businesses and assets in the energy services industry, with an emphasis on oil and gas services globally.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the Securities and Exchange Commission (“SEC”). Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:

Dhiraj Dudeja 
NESR Corp 
[email protected]

Solution Tree and Singapore American School co-host Professional Learning Communities at Work(TM) Institute to Focus on International Schools

BLOOMINGTON, IN–(Marketwired – May 11, 2017) – After 19 years of hosting Professional Learning Communities at Work™ Institutes for thousands of educators in North America, Solution Tree — one of the United States’ premier educational publishers and professional development providers — has announced that it is co-hosting an institute at Singapore American School, September 22–24, 2017. PLC at Work™: The Structure of “How” in International Schools will focus on the unique needs and challenges of implementing the PLC at Work™ concept in international schools.

The PLC at Work™ process is recognized as a powerful strategy for sustained, substantive school improvement. Based on the work of Richard DuFour, Rebecca DuFour, Robert Eaker and Mike Mattos, PLCs are driven by three big ideas: focus on learning, build a collaborative culture and focus on results. In PLCs, teachers work in collaborative teams, and all students learn at high levels.

The institute will pair international schoolteachers with both US presenters and international school presenters to ensure that the international school perspective is represented. For attendees just beginning to explore PLCs, the institute will provide a base of knowledge and practice, including a morning of observing SAS in the PLC process with teacher teams and in the classroom. For those already implementing PLCs, it is an opportunity to revisit the PLC mission, introduce new staff to the process and hear answers to new questions.

For more information about the event and to register, visit www.SolutionTree.com or contact Jane St. John at [email protected].

About Solution Tree
For nearly 20 years, Solution Tree has worked to transform education worldwide, empowering educators to raise student achievement. Every year we help teachers and administrators confront essential challenges, with more than 30,000 educators attending our events and more than 3,000 on-site professional development days in schools. Solution Tree has a catalog of over 400 books, videos and online courses and is the creator of Global PD, an online tool that facilitates the work of professional learning communities.

Contact Information
Jane St. John
+1 8123367700 ext. 230

Sundance Energy Australia Limited Schedules First Quarter 2017 Earnings Conference Call

DENVER, May 11, 2017 (GLOBE NEWSWIRE) — Sundance Energy Australia Limited (ASX:SEA) (NASDAQ:SNDE) (“Sundance” or the “Company”), a U.S. onshore oil and gas exploration and production company focused in the Eagle Ford in South Texas, announced it will host a conference call to review first quarter results.

Date:  Australia: Tuesday, May 16, 2017 – United States: Monday, May 15, 2017

Time:  Australia: 8:00 AM AEDT – United States: 4:00 PM MDT

Australian participants Toll Free dial-in: 1 80 0005 989
Australian (Sydney) Local dial-in: 2 82 239 773

Hong Kong Participants Toll Free dial-in: 800 966 253
Hong Kong Local dial-in: 3011 4522

Singapore participants Toll Free dial-in: 800 101 1512
Singapore Local dial-in: 6622 1010

USA participants Toll Free dial-in: (844) 831 3022

Webcast Link: http://www.sundanceenergy.net/events.cfm

All participants will be asked for their full name and company when joining the conference call.

About Sundance Energy Australia Limited
Sundance Energy Australia Limited (“Sundance” or the “Company”) is an Australian-based, independent energy exploration company, with a wholly owned US subsidiary, Sundance Energy Inc., located in Denver, Colorado, USA.

The Company is focused on the acquisition and development of large, repeatable oil and natural gas resource plays in North America. Current activities are focused in the Eagle Ford.  A comprehensive overview of the Company can be found on Sundance’s website at www.sundanceenergy.net.

For more information, please contact:

United States
Eric McCrady, Managing Director 
Tel: +1 (303) 543 5703

Australia
Mike Hannell, Chairman
Tel: +61 8 8363 0388

Cash and Chemicals: For Laos, Chinese Banana Boom a Blessing and Curse

BOKEO, LAOS � Kongkaew Vonusak smiles when he recalls the arrival of Chinese investors in his tranquil village in northern Laos in 2014. With them came easy money, he said.

The Chinese offered villagers up to $720 per hectare to rent their land, much of it fallow for years, said Kongkaew, 59, the village chief. They wanted to grow bananas on it.

In impoverished Laos, the offer was generous. “They told us the price and asked us if we were happy. We said okay.”

Elsewhere, riverside land with good access roads fetched at least double that sum.

Three years later, the Chinese-driven banana boom has left few locals untouched, but not everyone is smiling.

Experts say the Chinese have brought jobs and higher wages to northern Laos, but have also drenched plantations with pesticides and other chemicals.

Last year, the Lao government banned the opening of new banana plantations after a state-backed institute reported that the intensive use of chemicals had sickened workers and polluted water sources.

China has extolled the benefits of its vision of a modern-day “Silk Road” linking it to the rest of the world – it holds a major summit in Beijing on May 14-15 to promote it.

The banana boom pre-dated the concept, which was announced in 2013, although China now regards agricultural developments in Laos as among the initiative’s projects.

Under the “Belt and Road” plan, China has sought to persuade neighbors to open their markets to Chinese investors. For villagers like Kongkaew, that meant a trade-off.

“Chinese investment has given us a better quality of life. We eat better, we live better,” Kongkaew said.

But neither he nor his neighbors will work on the plantations, or venture near them during spraying. They have stopped fishing in the nearby river, fearing it is polluted by chemical run-off from the nearby banana plantation.

Chinese frustration

Several Chinese plantation owners and managers expressed frustration at the government ban, which forbids them from growing bananas after their leases expire.

They said the use of chemicals was necessary, and disagreed that workers were falling ill because of them.

“If you want to farm, you have to use fertilizers and pesticides,” said Wu Yaqiang, a site manager at a plantation owned by Jiangong Agriculture, one of the largest Chinese banana growers in Laos.

“If we don’t come here to develop, this place would just be bare mountains,” he added, as he watched workers carrying 30-kg bunches of bananas up steep hillsides to a rudimentary packing station.

Chinese foreign ministry spokesman Geng Shuang said he was not aware of the specific issues surrounding Chinese banana growers in Laos, and did not believe they should be linked directly to the Belt and Road initiative.

“In principle we always require Chinese companies, when investing and operating abroad, to comply with local laws and regulations, fulfil their social responsibility and protect the local environment,” he told a regular briefing on Thursday.

Laos’ Ministry of Agriculture did not immediately respond to a request for comment for this article.

China is the biggest foreign investor in Laos, a landlocked country of 6.5 million people, with over 760 projects valued at about $6.7 billion, according to Chinese state-run media.

This influence is not only keenly felt in the capital Vientiane, where Chinese build shopping complexes and run some of the city’s fanciest hotels. It also extends deep into rural areas that have remained largely unchanged for decades.

Banana rush

Lao people say Chinese banana investors began streaming across the border around 2010, driven by land shortages at home.

Many headed to Bokeo, the country’s smallest and least populous province.

In the ensuing years, Lao banana exports jumped ten-fold to become the country’s largest export earner. Nearly all of the fruit is sent to China.

For ethnic Lao like Kongkaew, Chinese planters paid them more for the land than they could earn from farming it.

For impoverished, hill-dwelling minorities such as the Hmong or Khmu, the banana rush meant better wages.

At harvest time, they can earn the equivalent of at least $10 a day and sometimes double that, a princely sum in a country where the average annual income was $1,740 in 2015, according to the World Bank.

They are also most exposed to the chemicals.

Most Chinese planters grow the Cavendish variety of banana which is favoured by consumers but susceptible to disease.

Hmong and Khmu workers douse the growing plants with pesticides and kill weeds with herbicides such as paraquat. Paraquat is banned by the European Union and other countries including Laos, and it has been phased out in China.

The bananas are also dunked in fungicides to preserve them for their journey to China.

Switching crops

Some banana workers grow weak and thin or develop rashes, said Phonesai Manivongxai, director of the Community Association for Mobilizing Knowledge in Development (CAMKID), a non-profit group based in northern Laos.

Part of CAMKID’s work includes educating workers about the dangers of chemical use. “All we can do is make them more aware,” she said.

This is an uphill struggle. Most pesticides come from China or Thailand and bear instructions and warnings in those countries’ languages, learned. Even if the labeling was Lao, some Hmong and Khmu are illiterate and can’t understand it.

Another problem, said Phonesai, was that workers lived in close proximity to the chemicals, which contaminated the water they wash in or drink.

In a Lao market, found Thai-made paraquat openly on sale.

However, some workers spoke to said they accepted the trade-off. While they were concerned about chemicals, higher wages allowed them to send children to school or afford better food.

There is no guarantee the government’s crackdown on pesticide use in banana production will lead to potentially harmful chemicals being phased out altogether.

As banana prices fell following a surge in output, some Chinese investors began to plant other crops on the land, including chemically intensive ones like watermelon.

Zhang Jianjun, 46, co-owner of the Lei Lin banana plantation, estimated that as much as 20 percent of Bokeo’s banana plantations had been cleared, and said some of his competitors had decamped to Myanmar and Cambodia.

But he has no plans to leave. The environmental impact on Laos was a “road that every underdeveloped country must walk” and local people should thank the Chinese, he said.

“They don’t think, ‘Why have our lives improved?’ They think it’s something that heaven has given them, that life just naturally gets better.”

Source: Voice of America