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Category Archives: Liberty
Liberty board overturns team’s suspension
Posted: February 17, 2012 at 9:33 am
LIBERTY — Liberty Town Council is experienced in hearing requests and making decisions on municipal matters such as zoning requests and water issues, but Wednesday night’s emergency called meeting left council members in a none too familiar place. The board struggled with finding a way to hold a group of parents accountable without punishing their children.
At issue: A Liberty Parks and Recreation basketball team was suspended from this coming weekend’s end-of-season tournament because team parents, even after being warned, refused to perform duties expected of parents of all Liberty Parks and Recreation basketball teams.
Liberty Mayor Terry Caviness told the packed house that the purpose of the meeting was to “find a solution to a problem, warning that it would not be possible to make everybody present happy.”
Shane Isley, council liaison to the Liberty Parks and Rec Advisory Board, said that an issue was brought before the Advisory Board at their January meeting that a team was not working concessions and handling gate duties at their home ballgames, which is required in Liberty Parks and Recreation as a way to offset costs so children can play sports without paying any fees.
Isley said that the recommendation was made from the Advisory Board to Parks and Rec Director Martin Rierson that the coach of the team be informed that if the team could not work their duties during their remaining two home games that they would not be allowed in tournament play. Isley said that no advisory board member spoke out against that recommendation.
Council members Gary Davis and Vickie Stevenson spoke out at Wednesday’s meeting, saying they were both in support of the kids and both questioned why such a decision was made with two games left in the season.
Caviness opened the floor for public comments, which lasted over one hour.
Germod Cheek, coach of the 11/12 year old boy’s team which was suspended, addressed the board, giving some background on his relationship with Liberty Parks and Rec. Cheek is a former president of the Parks and Rec Foundation, which was dissolved last year.
“I know when I was in the Foundation, I raised more money in a year then Martin Rierson has since he’s been here,” Cheek said.
Cheek then went on to explain to the council that he is a coach and cannot physically make parents of his players fulfill concessions and gate duties.
Cheek also pointed out that on the town’s form for registering children to participate in the program, there is an area for parents to sign acknowledging they agree to donate their time to work concessions and gate duties, but that there are no repercussions listed if that part of the contract is breeched. Cheek also said that he had players on his team whose parents did not sign that portion of the registration form.
Cheek’s father, Elworth Cheek of Ramseur, spoke on behalf of the children this decision would affect.
“It’s OK to penalize the parents, but don’t penalize the kids. These are the future leaders of your town,” he said. “What kind of message are you sending that you can’t do this and you can’t do that all because your parents goofed up?”
Cheek’s sister Tahesia Carter also spoke on her brother’s behalf, saying the action was a “personal vendetta” against her brother.
“When your head hits the pillow tonight, you better think about what you’re doing to our children,” she challenged council members.
Karen Scotton, advisory board member and basketball coach in the parks and rec program, told council members that everyone there loved the children.
“But the question is did this team do what they were supposed to do and the answer is no they didn’t,” she said. “When we have our coaches meeting, we are told that it is the coach’s responsibility to have concessions taken care of. We sign our name as a coach and we take on that responsibility.
“We (the advisory board) were told that there was a team not holding up their end of the bargain and they had a chance to right their wrong, and if that had been done, then we wouldn’t be here tonight.”
Council members questioned Scotton about the advisory board’s decision and asked if other teams had been in violation of the same penalty.
“We aren’t stopping this team mid-season. We are denying them the right to participate in the tournament,” she said. “And, yes, other teams had problems with people being late or only one person showing up to work instead of two, but nobody had nobody. This team was the only habitual one.”
Advisory board members Millie Sharpe and Dana Garrison also addressed the board, both saying they did not agree with the board’s decision. Neither Sharpe nor Garrison attended the January meeting.
The debate even brought out those with long-ago ties to the Parks and Rec department, dating back 20 and 30 years.
Jake Pence addressed the board, introducing himself as someone who was involved with the program from its founding days, and offered his advice.
“It’s a difficult thing to manage a group of volunteers, but it’s very important for these kids to have the opportunity to be part of something positive,” he said. “We can’t hold the children responsible for the sins of the adults. If you have punitive action to take against the coach or adults or employees, don’t do it at the expense of the kids.”
After the last person wishing to speak had an opportunity, Caviness closed the public comments section and began council debate.
Councilman Tyson Nixon made a motion to reverse the advisory board’s decision.
Councilman Isley stated that he stood firmly by the advisory board’s decision.
“This advisory board was appointed by the town council and the way I see it, it doesn’t matter if we agree with their decision, the advisory board made the decision, not the parks and rec director, and we should stand by it,” Isley said.
Rierson advised the board that Cheek’s team would have been playing in the tournament being held in Coleridge and that Coleridge had already scheduled the tournament games, leaving Cheek’s team out as advised. Rierson stated that he could not guarantee Coleridge officials would re-arrange the schedule.
Council member Stevenson, whom had stated earlier in the meeting the importance of focusing on the children and taking action best for the children, suggested that if Coleridge would not re-schedule the tournament to fit Cheek’s team, that no Liberty team should play.
Some members in the audience applauded that suggestion while others verbally questioned how that suggestion would benefit the children playing on teams that did not default on their responsibilities.
Council voted 3-1 to reverse the advisory board’s decision, with Isley the only council member to stand by the advisory board’s decision.
However, the vote to overturn the decisionn did not guarantee the team would be included in the tournament due to scheduling.
According to Town Manager Roger Davis, as of 5 p.m. Thursday, Coleridge tournament officials denied the team to be added to the tournament, as it would affect all of the other teams already scheduled in the tournament, which begins today.
“I hate it for everybody involved to have gone through all of this,” Davis said. “Hopefully, it will be a time to move ahead with improvements.”
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Sugar Land's Sanders turns into triple threat at Liberty
Posted: at 9:32 am
Those who know Liberty University point guard Jesse Sanders have a common denominator in their description of him: hard-working.
Perhaps hard work played a major role in Sanders' triple-double against High Point University earlier this season, making him the only player in NCAA Division I history to record one in each of his four seasons.
Shaquille O'Neal (LSU), Adonal Foyle (Colgate) and Shawn James (Northeastern, Duquesne) had triple-doubles in each of three seasons before deciding to play professionally.
"It's an attitude," said Sanders, a senior. "I want my teammates to know I'm going to be fighting on every play."
Homeschoolers ruled
That attitude stems from Sanders' days as a home school student in Sugar Land, where he played for the Homeschool Christian Youth Association Warriors. Their schedule regularly included public and prep schools around the area.
"We started five kids that didn't look like your typical inner-city Houston basketball player," Sanders said. "A lot of teams would look at us and think, 'We can punk these guys.'?"
The Warriors did most of the punking with a 41-3 record in Sanders' final year. He also was named Home School National Player of the Year in his final two seasons.
Tom Sanders, Jesse's father, was the head coach of the HCYA Warriors during those years. He didn't play as much basketball as his kids did growing up, and a lot of what he had learned about the game was through trial and error.
"I was a much better coach at the end than I was at the beginning," Tom Sanders said.
The success of the program helped Jesse Sanders' visibility during the recruitment process. After coach Willis Wilson was let go by Rice, Sanders rescinded his commitment with the Owls and committed to Liberty, which had recruited him immediately afterward.
Sanders, who is 6-3 and weighs 200 pounds, averages 12.7 points, 8.0 assists and 7.9 rebounds a game for the Flames. Liberty coach Dale Layer attributes that production to his work ethic in practice.
"He's like clockwork," Layer said. "He never takes a play or a day off, and I think that's the heart of his productivity."
That kind of production - especially in Division I - requires a certain level of conditioning. A lot of it was done away from a gym. During his years in home school, Sanders worked in a landscaping business he and his brothers started with the help of their parents, mowing lawns, trimming trees and power washing.
"We would get in a full day of work, hit the shower and head to the gym for a game," Sanders said. "We learned to play through it."
An athletic family
Older brothers Thomas and Ethan both played at the college level. Thomas currently plays professionally in Israel. Younger brother John Caleb is a teammate at Liberty who averages 11.6 points per game. And older sisters Caroline and Amy played basketball and volleyball, respectively, in home school.
Like his brother, Sanders hopes to play professionally wherever he receives an opportunity. However, his focus remains on finishing his final season with Liberty on a high note, despite a 12-16 record this season.
"I'm just trying to write this chapter the best way possible," Sanders said.
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Liberty Wharf has completed office leasing
Posted: at 9:32 am
The developer of Liberty Wharf in Boston’s Seaport District has completed office leasing for the complex, signing new deals this week with the software firm RStudio and the law firm Hayes Bostock and Cronin.
The leases cap a sweeping transformation of the Northern Avenue property, which was formerly occupied by the restaurant Jimmy’s Harborside. It is now home to a sleek glass building with offices and four new restaurants, including Del Frisco’s Double Eagle Steakhouse and the three-story Legal’s Harborside.
In addition to RStudio and Hayes Bostock and Cronin, the public relations firm Fama PR signed a deal this to expand its offices in the complex. The firm now occupies about 14,000 square feet at Liberty Wharf. Leasing was handled by the real estate services firm Jones Lang LaSalle.
“Liberty Wharf has grown to become one of the most popular destinations in Boston,” said Mayor Thomas M. Menino, who has re-named the Seaport Boston’s Innovation District. “The new tenants join more than 100 companies and 3,000 jobs that have moved to the area since 2010.”
Cresset completed construction of Liberty Wharf last year. Designed by Elkus Manfredi Architects of Boston, the complex includes three buildings with 73,000 square feet of office and retail space. The new restaurants also include Temazcal Tequila Cantina and Jerry Remy’s Sports Bar & Grill. It has yet to lure a fifth restaurant to fill a small glass kiosk along Northern Avenue.
Casey Ross can be reached at cross@globe.com.
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Liberty Charter girls on a perfect run
Posted: February 16, 2012 at 4:23 pm
The Liberty Charter’s girls basketball program may only be seven years old, but its greatest strength — experience — helped the Patriots to a 22-0 record and a district title on the way to their third consecutive 1A Division I state tournament.
The Patriots’ short, successful history has been tarnished by two consecutive losses in the first round at state by Lapwai, their first-round opponent Thursday (1:15 p.m., Columbia High). Lapwai won by 23 in 2010 and by 42 last season.
“When we went (to state) two years ago, it was the mystique of Lapwai. My girls, having never been to a state tournament, were pretty much in awe,” Liberty Charter coach Mark Wachsmuth said. “We’re definitely excited about getting to play them again.”
The Patriots return all five starters from last season, and three seniors have been in the starting lineup since they were freshmen — Halee Schafer, Kendra Jensen and Emily Rainboth. Junior Alivia Wachsmuth, Mark’s daughter, also has been a fixture in the starting five since her freshman year. Rainboth and Wachsmuth lead the team in scoring at 10.9 points per game.
“As a freshman, going into state for the very first time was really intimidating. I played scared,” Alivia Wachsmuth said. “Now after proving to everyone and proving to myself what we’re capable of, there’s no fear anymore.”
Liberty Charter features a balanced, athletic team that loves to score in transition, and it will need to contain Lapwai’s explosive duo of Sierra Higheagle and Natahnee Spencer. High-eagle was a first-team All-Idaho selection last season while Spencer is the reigning state player of the year.
“(Spencer) can pretty much do everything. She can dribble, shoot, makes plays and she’s smart,” Alivia Wachsmuth said.
Rainboth agrees that avenging two past losses will not be easy.
“We know they come out strong and put a lot of pressure on us,” Rainboth said. “But we’re quick this year and we’ve learned a lot from those last two years playing them, so I think we’ll be ready.”
Seven of Liberty Charter’s players also played varsity volleyball, and the players’ chemistry carried over. That was apparent on the first day of practice.
“The speed of our practice, the execution, the understanding was just off the charts,” Mark Wachsmuth said. “I’ve never had a team where I could come in and do what we could do that first day and they all clicked very well, even with a couple new kids mixed in.”
The undefeated Patriots are confident in themselves and — with their continuity — hope change is in store for them against Lapwai.
“Our goal going into the season was to win every game, win the conference title, district title and the state title. So far, we’re on the right track to do those things,” Mark Wachsmuth said.
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Liberty Mines Announces 2012 Operational and Exploration Targets
Posted: at 4:23 pm
TSX: LBE
TORONTO , Feb. 16, 2012 /CNW/ - Liberty Mines Inc. (LBE:TSX) ("Liberty" or the "Company") today announced that its Board of Directors has approved the Company's budget and operating targets for 2012.
"Our budget and targets for the year build on the significant progress we have recently made towards re-starting production and expanding our resource estimates in the Shaw Dome Nickel Belt," said Mr. Chris Stewart , President & CEO of Liberty Mines. "More specifically, we are pleased with our work on the tailings storage facility from both a safety and refurbishment perspective. We look forward to restarting our Redstone Mill, which we expect before the end of Q1/2012, as this will enable us to begin generating cash flow in the second quarter."
Selected targets for 2012:
Liberty expects 2012 nickel production to be approximately 4.0 million pounds, which will be supplied by the Company's McWatters Mine. To support its production targets for the year, Liberty is near completion of Phase 1 of its Tailings Support Facility (TSF) Project, which is designed to allow mining and milling operations to restart in Q1 as previously announced. The new TSF will meet environmental standards and once the project is completed, it will provide a minimum three-year life. The Company is also moving ahead with an expanded exploration program that will consist of the following key initiatives: Drilling along strike and at depth to increase the size of the Hart East deposit; Drilling at depth on the main Hart deposit to expand the resource estimate; Underground drilling program at the Redstone Mine to confirm near-term resources; Drilling at depth on the Redstone Mine with the objective of moving the 747,000 tonne inferred resource into the indicated category; Exploration drilling on combined airborne VTEM and geochemical soil sample target areas for potential new discoveries; Implementing soil geochemistry and ground geophysics on the Groves Property; and Compilation and interpretation of recent work on Croxall and McAra projects to determine additional drill targets.
Long-term targets
Liberty is continuing to progress with the environmental baseline work that is required to permit the construction of a new tailings pond facility. The permit application is expected to be submitted by mid-2013 with construction to follow in 2014. Once the construction is completed, Liberty will have a new TSF with a 15 year life.
Mr. Stewart added, "We are clearly on the right path to turning Liberty Mines around. With the right strategy and team in place, we believe that our transformation will be completed before the end of the year."
About Liberty Mines Inc.
Liberty Mines Inc. is a mid-tier producer of nickel and is focused on the exploration, development and production of nickel, copper, cobalt and platinum group metals from its properties in Ontario, Canada . It owns and operates the only nickel concentrator in the Shaw Dome, a prospective nickel belt region near Timmins, Ontario. With a new management team in place, Liberty is focused on growth initiatives not only through a more aggressive exploration program on its current properties but also through potential acquisition or partnership opportunities beyond its core Timmins area projects.
CAUTIONARY STATEMENT
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward looking statements". All statements other than statements of historical fact included in this release, without limitation, statements regarding future plans and objectives of Liberty, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Liberty's expectations are: exploration risks; commodity prices; regulatory approvals; receipt of mining permits and leases; and assumed startup and operating costs detailed herein and from time to time in the filings made by Liberty with securities regulators. Forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to publicly update any such statement or reflect new information or the occurrence of future events or circumstances, except where required by securities regulations. Accordingly, readers should not place undue reliance on forward-looking statements.
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Liberty All-Star(R) Growth Fund, Inc. January 2012 Monthly Update
Posted: February 15, 2012 at 5:03 am
BOSTON, MA--(Marketwire -02/14/12)- Below is the January 2012 Monthly Update for the Liberty All-Star® Growth Fund, Inc. (NYSE: ASG - News)
Liberty All-Star Growth Fund Monthly Update
Ticker: ASG January 2012
Monthly Performance
Performance NAV Market Price Discount
----------------------------------------------------------------------------
Beginning of month value $4.24 $3.81 10.1%
Distributions - -
End of month value $4.50 $4.04 10.2%
Performance for month 6.13% 6.04%
Performance year-to-date 6.13% 6.04%
Past performance cannot predict future
results
Net Assets at Month-End ($millions)
Total $135.4
Equities $131.3
Percent Invested 97.0%
Top 20 Holdings at Month-End
(34.2% of equity portfolio)
(Rank from previous month)
1 Apple, Inc. (1) 2.6%
2 QUALCOMM, Inc. (6) 2.0%
3 FMC Technologies, Inc. (3) 1.9%
4 IHS, Inc., Class A (5) 1.9%
5 Salesforce.com, Inc. (11) 1.9%
6 ACE Ltd. (4) 1.9%
7 Oceaneering International, Inc. (8) 1.9%
8 C.H. Robinson Worldwide, Inc. (2) 1.9%
9 American Tower Corp., Class A (10) 1.8%
10 Intuitive Surgical, Inc. (7) 1.8%
11 ARM Holdings PLC (12) 1.7%
12 Core Laboratories N.V. (9) 1.6%
13 VMware, Inc., Class A (18) 1.5%
14 Expeditors International of Washington, Inc. (17) 1.5%
15 LKQ Corp. (15) 1.4%
16 BioMarin Pharmaceutical, Inc. (16) 1.4%
17 Baidu, Inc. (21) 1.4%
18 Occidental Petroleum Corp. (20) 1.4%
19 Google, Inc., Class A (13) 1.4%
20 Rockwell Automation, Inc. (14) 1.3%
Holdings are subject to change.
Sector Breakdown(% of equity portfolio)*
Information Technology 30.3%
Industrials 15.0%
Health Care 13.6%
Consumer Discretionary 13.6%
Financials 9.6%
Energy 9.5%
Materials 3.1%
Consumer Staples 2.8%
Telecommunication Services 1.8%
Utilities 0.7%
100.0%
*Based on Standard & Poor's and MSCI Barra Global Industry Classification
Standard (GICS).
New Holdings Holdings Liquidated
Avago Technologies Ltd. CARBO Ceramics, Inc.
Fastenal Co. ICF International, Inc.
PriceSmart, Inc. SuccessFactors, Inc.
Xueda Education Group
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Liberty girls drop KingCo title game
Posted: at 5:03 am
February 14, 2012
By Christina Lords
Liberty High School girls basketball coach Randy Leifer admits his team had an abysmal first half as they battled in the KingCo Conference 3A championship game Feb. 9 at Bellevue College.
It certainly didn’t help that the Bellevue Wolverines came out strong at both ends of the court, solidifying a 54-36 win over the Patriots.
“They were putting a lot of pressure on us, on our defense,” he said. “We didn’t take very good care of the basketball, and we settled for quick offensive shots.”
The Wolverines came into the tournament in the No. 4 slot and managed to overtake the Patriots with an 11-5 first-quarter lead. Bellevue boasted a 22-7 lead at halftime.
“They were able to get to the hoop a lot more than we did, and when they did, they shot the ball really well,” Leifer said.
The Wolverines’ defense held Liberty’s top scorers, Aspen Winegar and Sierra Carlson, to a combined 11 points. No Patriot scored in double figures — a situation the Patriots haven’t faced since the last time they took on Bellevue. Liberty dropped that game, 47-27, on Jan. 28.
Liberty only had four offensive rebounds for the night.
Leifer said he is proud of the success of the Patriots’ season and knew early in the year that the team had a shot at playing for the KingCo title.
“I thought we definitely had a chance, where we had several returning pieces from last year,” he said. “We lost some of our players, obviously, but we had three starters coming back, and I knew we had a shot at being there.”
Megan Tsutakawa led Liberty against the Wildcats with eight points. Winegar had six points, while Carlson added five points.
Bellevue’s Katie Savard contributed a game-high 13 points for the Wolverines.
Patriots stun Lake Washington
Two of the Patriots’ most-important games of the season came earlier in the week.
On Feb. 7, Winegar and Carlson hit clutch fourth-quarter shots as the Patriots upset second-seeded Lake Washington, 42-41. Lake Washington led 32-26 going into the final quarter. However, Liberty outscored the Kangaroos down the stretch to pull out the victory. Winegar hit a key 3-point field goal and Carlson followed with a game-winning basket to cap the Patriots’ rally.
Winegar finished with a game-high 13 points and Carlson had 11 points.
On Feb. 6, Liberty earned a berth to the Class 3A Sea-King District when it defeated visiting Mercer Island, 60-40, in a first-round, loser-out KingCo game.
Liberty bolted to a 20-7 first-quarter lead and held a commanding 42-18 advantage at halftime.
Winegar led the Patriots with 16 points and Carlson had 13 points.
Christina Lords: 392-6434, ext. 239, or newcastle@isspress.com. Comment at http://www.issaquahpress.com.
Written by Christina Lords · Filed Under Sports, Sports News
Copyright 2011 by Issaquah Press Inc. All rights reserved. This material may not be published, rewritten or redistributed without permission. E-mail editor@isspress.com
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Liberty 911 talk draws crowd
Posted: February 14, 2012 at 2:00 pm
LIBERTY - A standing-room only crowd packed Monday's trustees meeting to make their voices heard regarding the possible loss of their 911 dispatch center.
Citing financial concerns, trustees are considering closing the township's dispatch center and moving its operations to the county's center in Howland.
''Our taxpayers and voters should have a final say in this like they did last time,'' said Michael Janovick, Liberty police sergeant and OPBA representative.
''The people of Liberty want to vote on this,'' said Carol Faustino, resident and president of the Liberty Historical Society. ''If they vote it down, it's the people's choice.''
Also in the crowd was state Sen. Capri Cafaro, a Liberty resident, who stood to voice her opinions as a member of the community.
''As a Liberty resident, this is not the kind of thing we should be looking at,'' she said. ''Please, don't take the right away from the people of this community. Let them decide.''
A levy to maintain the township's dispatch was approved by voters in 2008. It remains in effect through 2012, but trustees argue that the rising cost of running it has outgrown the levy.
''In 2008, we passed a one-and-a-quarter mill levy,'' said trustee Stan Nudell. ''That millage isn't bringing in enough. If you want to continue this levy we will have to increase it to 1.5 mills.''
Nudell explained that if the township went with Trumbull County, it would cost approximately $42,000 per year, a significant savings of the almost $300,000 it costs to run the dispatch now.
According to Nudell, it cost about $298,000 in 2011 to run the 911 center, while only taking in $270,000.
Not everyone in attendance was arguing for the continuation of the center, however.
''What are we doing here? We're broke,'' said resident Ed Palumbo. ''We've got an opportunity to save some money. We've got an opportunity to move forward.''
The trustees also reiterated several times that nothing had been or was being decided.
''The trustees felt it necessary at this time to see if there was some way of saving money,'' Nudell said. ''No decisions have been reached. We will continue negotiations and we are willing to listen and hear what you want.''
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Liberty residents debate 911 dispatch
Posted: at 2:00 pm
LIBERTY, Ohio- Liberty Township trustees say eliminating their own 911 call center will save residents big money, but the police union and some local citizens gathered to say you can't put a price on safety.
People came to speak out against efforts to get rid of the local 911 dispatch center at Monday night's trustee meeting.
Most of them told trustees to put the issue on the November ballot.
"We've had excellent, excellent response. I say it's only fair we as taxpayers be able to give this to us to make the decision. we're not talking about roads we're talking about people's lives," said one resident.
Ray Buhala, a police union representative says the move would be devastating.
"All the crime that we deal with comes from youngstown so it makes sense to have dispatchers familiar with what goes on in youngstown they keep us abreast of what's going on as afar as crime that may be coming into liberty or critical incidents we need to respond to," Buhala said.
Trustees say it's a matter of money.
They say, right now, a levy dedicated to Liberty's 911 center brings in $270,000 a year but it's costs $298,000 to run it and those costs continue to rise.
The county would charge just $42,400 a year for 911 services.
"That millage is not bringing in enough that's why your trustees are looking at what we can do to save you the taxpayers money," said Trustee Stan Nudell. "If the Trumbull County 911 center is safe for 26 other communities i sure hope it would be safe for us also."
Trustees say there would be no difference from where a 911 phone call comes into in relation to response time.
They say they will continue to negotiate with the county.
Police say they are gathering petitions to put the issue on the November ballot.
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Liberty residents debate 911 dispatch
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American Liberty Petroleum Corp. Adds New Oil Discovery Lease & Exercises Option to Receive Assignment of 3 Oil & Gas …
Posted: February 13, 2012 at 11:35 pm
BAKERSFIELD, Calif.--(BUSINESS WIRE)--
American Liberty Petroleum Corp. (OTCBB: OREO) (herein after "American Liberty" and/or "the Company") is pleased to announce the expansion of its project portfolio through the addition of the 3,840-acre Cortez lease. As well, on June 27, 2011, the Company exercised its option agreement from May 11, 2010, thereby receiving assignment of the following 3 Nevada-based Oil and Gas leases: Gabbs Valley lease (75% Working Interest; 63.375% NRI), Cortez lease (60% WI; 48% NRI), Kibby Flat lease (75% Working Interest; 63.375% NRI).
The Cortez lease was originally included in the option agreement through the agreement's 3rd Amendment on February 11, 2011. The lease consists of 3,840.560 acres in sections 1, 12, 13, 24, 25, and 36 of Township 12 North and Range 34 East (Mt. Diablo Base and Meridian). The BLM issued the Cortez lease on August 24, 1995. It was subsequently committed to the Cobble Cuesta Unit on March 1, 2005. Drilling of the Empire No. 1-12 Cobble Cuesta well extended the lease through November 28, 2010. Its status became "Held By Production" (HBP) on November 3, 2010 due to the discovery of oil in the Empire No. 2-12 Paradise well (recovered 87 feet of oil with pressure data indicating a low permeability oil reservoir)[1].
The Cortez lease is located in close proximity to the Company's Gabbs Valley lease, which will provide an operational advantage as American Liberty moves its exploration program forward for the leases. Exploratory wells have resulted in hydrocarbon shows on both leases and, as mentioned, recovered oil on the Cortez lease. Both leases are located on the 26,000-acre Cobble Cuesta structure in the northwest part of Gabbs Valley in Nye County, Nevada. A report by Alfred H. Pekarek, Ph.D., Geologist, from January 2008 estimated the Cobble Cuesta structure represents reserves of 4+ billion barrels of oil based on reservoir and production data from producing Nevada oil fields[2].
"We're excited to demonstrate our intention of exploring and developing Nevada's potential energy resources," commented Alvaro Vollmers, American Liberty's President. "We can now proceed with rapidly advancing the initial oil discovery work already performed on the Cortez lease."
FOR MORE INFORMATION
Learn more about the Gabbs Valley, Cortez and Kibby Flat leases at the American Liberty Petroleum website, where you can also find more information about the Company as well as the latest news releases: http://www.americanlibertypetro.com.
ABOUT AMERICAN LIBERTY PETROLEUM CORP.
Based in Bakersfield, California, American Liberty is a publicly traded company (OTCBB: OREO) focused on reducing America’s need for imported oil through discovering major, new onshore US energy resources and by tapping overlooked or undervalued onshore domestic resources through exploration and development technologies not previously available. Recent significant discoveries, such as Occidental Petroleum's estimated 1+ billion barrels of oil and natural gas equivalents in California*, underscore the potential for developing new oil and gas production solutions in western America. Next door in the under-explored state of Nevada, American Liberty's 2,557-acre Gabbs Valley Prospect is located on the 26,000-acre Cobble Cuesta structure, which is estimated to represent oil reserves of 4+ billion barrels**. The Company's 7,270-acre Kibby Flat Prospect in the Monte Cristo basin, meanwhile, represents estimated ultimate recovery (EUR) of as high as 669 million barrels of oil according to a 2008 report***.
* Occidental Petroleum's Path to Easy Oil. Forbes Magazine, March 29, 2010
** Reserve Estimates for the Cobble Cuesta Structure, Alfred H. Pekarek, Ph.D., Geologist, January, 2008
*** Kibby Flat Prospect report, Jerry Walker, Consulting Geologist, Sept. 2008
ON BEHALF OF THE BOARD OF DIRECTORS,
American Liberty Petroleum Corp.
Alvaro Vollmers, President
4900 California Ave
Tower B-210
Bakersfield, CA
93309
Certain statements in this press release are considered to be forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. American Liberty Petroleum Corp. bases these forward-looking statements on current expectations and projections about future events, which are based on information currently available. The forward-looking statements in this press release may also include statements relating to American Liberty Petroleum Corp.'s anticipated business prospects, new developments, financial performance, strategies and similar matters. American Liberty Petroleum Corp. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
SOURCES:
1 Synopsis of Oil and Gas Well Drilling and Testing on Cortez Lease. Jerry Walker, Consulting Geologist, July 18, 2011
2 Reserve Estimates for the Cobble Cuesta Structure, Alfred H. Pekarek, Ph.D., Geologist, January, 2008
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