Archive for 'New Mexico'

Parents are increasingly turning to foreign language classes for kids in an effort to prepare their children for the jobs of the future.

Quote start“Our globalized society demands a globalized workforce – and that means being comfortable working with multiple cultures and speaking multiple languages,” said Michael Fee, managing director of Lango.Quote end

In 2008, 64 percent of business executives spoke two or more languages. People who are bilingual in Spanish and English are in particularly high demand for business executive positions in the U.S. due to the large Latino population across the country. To prepare the next generation for success in a globally-oriented marketplace, parents are exposing their children to foreign languages and cultures at an increasingly younger age. Lango, a foreign language program for kids, has seen interest in its language classes grow dramatically in the last four years.

“The jobs of the future will demand foreign language skills and increased cultural awareness,” said Michael Fee, managing director of Lango. “Our globalized society demands a globalized workforce – and that means being comfortable working with multiple cultures and speaking multiple languages.”

Becoming multilingual can be a life-long process, one that best starts from childhood. Linguists have reported that the human brain is wired for learning and retaining new information during childhood, as children are more open than adults to the new sounds found within foreign languages. Copying unknown sounds can be difficult for adults, which is one reason why they are less likely to develop a second language and native accent as proficiently as children. Adults tend to translate, whereas children speak a new language naturally.

Parents are taking advantage of their children’s natural ability to learn and retain a new language by enrolling their children in foreign language education classes such as Lango. Lango offers engaging Spanish, Mandarin and French classes for children ages 18 months to 11-years-old in more than 70 communities across the U.S.

“I have a two-year-old and want her to be exposed now, not when she is 14,” said Jessica Murrell, owner of Lango in Durham, North Carolina. “My goal with Lango’s foreign language courses is to expose children to foreign languages at an early age so they will be able to travel, work abroad, and be competitive in a global job market.”

Careers where bilingual skills are especially valued, both now and in the future include:

Health Care

  • Jobs in health care are expected to increase by 22 percent by the year 2018. In addition, the Census Bureau reported that the U.S.’s Hispanic population has grown 43 percent since the year 2000. As the U.S. Hispanic population continues to grow and health care jobs increase, more Spanish-speaking health care professionals will be in demand.

Business

  • As China’s influence in the U.S. continues to grow, Mandarin is being referred to as the business language of the future.

Hospitality

  • Major cities and tourist destinations attract visitors from all over the world. Hotel and restaurant employees need the ability to communicate with guests to guarantee customer satisfaction.

Education

  • Public school teachers are increasingly faced with students who do not speak English, especially in states with large Hispanic populations such as New Mexico, California, Texas, Arizona, Nevada, Florida and Colorado. In addition, bilingual teachers often earn higher salaries than teachers who only speak English.

Government

  • The U.S. government’s National Security Education Program (NSEP) works to strengthen national security through critical language and culture expertise. The NSEP finds more than 70 languages critical for working in national security, one of which is Mandarin.

About Lango
Lango (http://www.langokids.com) was established on the belief that every child should learn a second language. Headquartered in San Francisco, California, Lango teaches children ages 18 months to 11 years new languages in full immersion classes through Adventure Learning©, an innovative approach that combines stories, music and movement, playacting, and game-playing in an engaging format that kids love. Lango is a division of Intrax, a family of organizations that provide a lifetime of high quality educational, work and volunteer programs that connect people and cultures, with operations in more than 100 countries worldwide.

 

Enhanced Oil Resources Inc. (TSX-V: EOR) Acquires $25 Million Line of Credit

Enhanced Oil Resources Inc. (TSX-V: EOR) Acquires $25 Million Line of Credit-Image via Wikipedia

Enhanced Oil Resources Inc. (TSX-V: EOR) today announced that two of its wholly-owned U.S. subsidiaries have executed a reducing revolving Credit Facility with Regions Bank, Houston, Texas providing for up to US $25,000,000 in development financing for its oil and gas properties located in New Mexico. The new Credit Facility provides an initial borrowing base of US $3.6 million and maximum borrowings of up to $25 million. The new facility, which will have a three year term, requires minimum interest rates of 5% on borrowings under the facility.  Borrowings will bear interest at 2.0% over the Bank’s prime rate for Base Rate Loans or 3.5% over the London Interbank Offered Rate (LIBOR) for Eurodollar Loans outstanding. Interest payments will be due monthly for Base Rate Loans and, in connection with Eurodollar Loans, on the ending date of the Interest Period selected for such Loans, from one to six months.  Payments under the Loan Agreement will be required to the extent that outstanding principal and interest exceed the Borrowing Base.

Increases in the Borrowing Base under the Loan Agreement will be revised based on the Bank’s engineering valuation of the Company’s subsidiaries oil and gas reserves, including additions from reactivations, drilling, enhanced oil recovery projects and provides for other oil field acquisitions.  The Credit Facility is collateralized by certain Mortgaged Properties (principally the Company’s Crossroads field and the Milnesand Unit field) located in Lea and Roosevelt counties, New Mexico.  The Borrowing Base will decrease automatically at the rate of US $250,000 per month and will be re-determined semi-annually; however, the Company may request two additional re-determinations of the Borrowing Base annually.

Also in connection with the Credit Facility, the Company has entered into Hedging Agreements with the Bank’s Capital Markets Group and executed transactions for the forward sale of a portion of its share of projected production.  As of December 20, 2010, the Company’s two subsidiaries have hedged approximately 55,000 net barrels of crude oil for delivery in 2011 at an average price of approximately $90.64 per barrel, subject to customary adjustments for quality and transportation.

Proceeds of the Borrowings may be used to provide working capital, to fund oil field acquisitions and developmental drilling expenses and to fund other working capital requirements.  The Loan Agreement contains certain mandatory covenants, including minimum current ratio and cash flow requirements, limitations on indebtedness, limitations on dispositions, hedging limitations, and other standard business operating covenants.

The Company’s President and CEO Mr. Barry Lasker states “The signing of this Credit Facility is a significant step forward in the development of the multiple projects we have identified in our oil fields in New Mexico. A reserves based credit facility is a necessary tool for additional financing for projects we are pursuing, including our infill drilling programs we expect to commence in 2011, as well as the Cortez Pipeline connection to deliver CO2 to our oil fields in 2012.  We are proud of our relationship with Regions Bank and the multiple facets of their affiliates in capital markets services which they can bring to focus on our projects. Together with our current positive cash flow stream this Credit Facility will accelerate further production reactivations at Crossroads and infill drilling to increase our San Andreas oil production at Milnesand field and will assist management in systematically increasing production on a larger scale than we had been able to achieve in the past.  We thank the shareholders for their support and we look forward to announcing additional achievements in the future.”

Forward-Looking Statement

Certain statements contained herein are forward-looking statements, including statements relating to Enhanced Oil Resources’ operations; business prospects, expansion plans and strategies.  Forward-looking information typically contains statements with words such as “intends,” “anticipate,” “estimate,” “expect,” “potential,” “could,” “plan” or similar words suggesting future outcomes.  Readers are cautioned not to place undue reliance on forward-looking information because it is possible that expectations, predictions, forecasts, projections and other forms of forward-looking information will not be achieved by Enhanced Oil Resources.  By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties.  A change in any one of these factors could cause actual events or results to differ materially from those projected in the forward-looking information.  Although Enhanced Oil Resources believes that the expectations reflected in such forward-looking statements are reasonable, Enhanced Oil Resources can give no assurance that such expectations will prove to be correct.  Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Enhanced Oil Resources and described in the forward-looking statements or information. The forward-looking statements are based on a number of assumptions which may prove to be incorrect.  Readers should be aware that the list of factors, risks and uncertainties set forth above are not exhaustive. Readers should refer to Enhanced Oil Resources’ current filings, which are available at www.sedar.com, for a detailed discussion of these factors, risks and uncertainties.  The forward-looking statements or information contained in this news release are made as of the date hereof and Enhanced Oil Resources undertakes no 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 laws or regulatory policies.

ON BEHALF OF THE BOARD OF DIRECTORS

(signed)

Barry D Lasker, CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.