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Category Archives: Liberty

Liberty Global shares rise after 1Q earns in line

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LOS ANGELES (AP) -- Shares of Liberty Global Inc. rose Tuesday after the international pay TV operator controlled by billionaire John Malone posted first-quarter earnings that were in line with analyst expectations, and it said its acquisition of Virgin Media was on track to be completed by the second quarter.

The company said late Monday that its net loss in the three months ended March 31 fell to $1 million, or breakeven per share, from a loss of $25.1 million, or 9 cents per share, a year earlier.

Revenue rose 9 percent to $2.77 billion.

Morgan Stanley analyst Benjamin Swinburne said in a research note following the release that the results were "broadly in-line."

Shares gained $2.83, or 3.8 percent, to end at $78.01 Tuesday. Shares touched an all-time high of $78.19 during the session.

Liberty Global said in February that it had agreed to acquire Virgin Media for $17.50 in cash, 0.2582 Liberty Global Series A shares and 0.1928 Liberty Global Series C shares for every Virgin Media share.

Malone controls Liberty Global through super-voting Series B shares, of which he controls 86 percent.

The deal valued the equity in Virgin Media at $16 billion. Virgin Media has 25 million customers in 14 countries. Liberty Global ended the quarter with 19.7 million customers in 13 countries.

Morgan Stanley's Swinburne said in his research note that he expects the acquisition to add more than 10 percent to Liberty Global's free cash flow.

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Liberty Global shares rise after 1Q earns in line

Liberty Interactive Operating Profit Flat

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Liberty Interactive Corp.'s (LINTA, LINTB) first-quarter operating profit was flat as higher revenue was neutralized by higher expenses, while Liberty Media Corp. (LMCA, LMCB) swung to an operating profit as revenue surged.

Liberty Interactive in 2011 completed a split-off of assets, including the Starz cable channel, that became known as Liberty Media Corp. The plan sharpened focus on the growing QVC home-shopping network, as well as a handful of its e-commerce businesses.

Liberty Media in January spun off Starz in a move aimed at freeing up cash to pursue its takeover of Sirius XM Radio Inc. (SIRI). Starz is classified as discontinued operations as of the first quarter. Liberty gave Sirius a lifeline in early 2009 with several hundred million dollars in loans; in exchange, Liberty got preferred shares equivalent to a 40% stake in the company. The Federal Communications Commission earlier this year approved Liberty Media's request for permission to gain effective control of Sirius.

For the quarter, Liberty Interactive reported an operating profit of $260 million, compared with $259 million a year earlier. Revenue rose 5.2% to $2.43 billion, above the $2.38 billion expected by analysts polled by Thomson Reuters.

Depreciation and amortization expense rose 7%, while stock compensation expense climbed 41%.

Revenue from QVC--its largest business--was up 2.2% to $1.97 billion, while operating income edged up 0.8%. Revenue from QVC's larger U.S. business rose 4.6% to $1.3 billion. Liberty's e-commerce business saw revenue rise 20% to $460 million.

"QVC produced particularly strong results in the U.S., driven by solid operating performance and continued growth in eCommerce and mobile revenue," Liberty Chief Executive Greg Maffei said.

Separately, Liberty Media reported an operating profit of $160 million, compared with a loss of $32 million a year earlier. Revenue surged to $789 million from $35 million as the company logged $635 million in subscriber revenue, versus no such revenue a year earlier.

The company said its subscribers grew by 453,000 to 24.4 million, a record figure.

"We are extremely pleased with the operating results of our newest subsidiary, SiriusXM, which grew its subscriber base to over 24 million," Mr. Maffei said.

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Liberty Interactive Operating Profit Flat

Liberty Interactive's 1st-Quarter Operating Profit Flat; Liberty Media Swings to Black

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Liberty Interactive Corp.'s (LINTA, LINTB) first-quarter operating profit was flat as higher revenue was neutralized by higher expenses, while Liberty Media Corp. (LMCA, LMCB) swung to an operating profit as revenue surged.

Liberty Interactive in 2011 completed a split-off of assets, including the Starz cable channel, that became known as Liberty Media Corp. The plan sharpened focus on the growing QVC home-shopping network, as well as a handful of its e-commerce businesses.

Liberty Media in January spun off Starz in a move aimed at freeing up cash to pursue its takeover of Sirius XM Radio Inc. (SIRI). Starz is classified as discontinued operations as of the first quarter. Liberty gave Sirius a lifeline in early 2009 with several hundred million dollars in loans; in exchange, Liberty got preferred shares equivalent to a 40% stake in the company. The Federal Communications Commission earlier this year approved Liberty Media's request for permission to gain effective control of Sirius.

For the quarter, Liberty Interactive reported an operating profit of $260 million, compared with $259 million a year earlier. Revenue rose 5.2% to $2.43 billion, above the $2.38 billion expected by analysts polled by Thomson Reuters.

Depreciation and amortization expense rose 7%, while stock compensation expense climbed 41%.

Revenue from QVC--its largest business--was up 2.2% to $1.97 billion, while operating income edged up 0.8%. Revenue from QVC's larger U.S. business rose 4.6% to $1.3 billion. Liberty's e-commerce business saw revenue rise 20% to $460 million.

"QVC produced particularly strong results in the U.S., driven by solid operating performance and continued growth in eCommerce and mobile revenue," Liberty Chief Executive Greg Maffei said.

Separately, Liberty Media reported an operating profit of $160 million, compared with a loss of $32 million a year earlier. Revenue surged to $789 million from $35 million as the company logged $635 million in subscriber revenue, versus no such revenue a year earlier.

The company said its subscribers grew by 453,000 to 24.4 million, a record figure.

"We are extremely pleased with the operating results of our newest subsidiary, SiriusXM, which grew its subscriber base to over 24 million," Mr. Maffei said.

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Liberty Interactive's 1st-Quarter Operating Profit Flat; Liberty Media Swings to Black

One Liberty Properties, Inc. Reports First Quarter 2013 Results

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GREAT NECK, NY--(Marketwired - May 8, 2013) - - One Liberty Properties, Inc. (NYSE: OLP)

One Liberty Properties, Inc. (NYSE: OLP), an owner of a geographically diversified portfolio of retail, industrial, health and fitness, office, flex and other properties primarily under long term net leases in the United States, today announced operating results for thequarter ended March 31, 2013.

Patrick J. Callan, Jr., President and Chief Executive Officer of One Liberty stated, "One Liberty began 2013 by executing and achieving progress towards the goal of selective and accretive growth.With overall double digit percentage increases from the first quarter of 2012 in rental income, income from continuing operations and funds from operations, we continue to protect and increase stockholder value while prudently pursuing growth opportunities."

Operating Results:

Rental income for the first quarter of 2013 increased $1.34 million, or 12.5%, to $12.1 million from $10.76 million for the first quarter of 2012.The increase is due substantially to the twelve properties acquired since February 2012.

Total operating expenses for the first quarter of 2013 increased to $5.67 million from $4.98 million for the first quarter in the prior year.Approximately $586,000 of the increase is due to increased depreciation, real estate and real estate acquisition expense resulting primarily from properties acquired in 2012 or 2013 and the balance is due to increased general and administrative expense.

Net income attributable to One Liberty in the first quarter of 2013 was $3.45 million or $0.22 per diluted share compared to $3.22 million or $0.21 per diluted share in the first quarter of 2012.Included in the 2012 results are $264,000 or $.01 per share of income from discontinued operations.

For the quarter ended March 31, 2013, the Company reported Funds from Operations ("FFO") of $6.34 million, a 13.8% increase from the $5.57 million reported in the first quarter of 2012.FFO was $0.42 per diluted share in the first quarter of 2013 compared to $0.38 per diluted share in the corresponding period of the prior year. A reconciliation of FFO to net income as presented in accordance with GAAP is provided with the financial information included later in this release.

The per share net income and FFO results for the three months ended March 31, 2013 were impacted by the increase in the weighted average number of shares outstanding which increased due to share issuances under One Liberty's equity incentive, dividend reinvestment and at the market equity offering programs.

Balance Sheet:

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One Liberty Properties, Inc. Reports First Quarter 2013 Results

GoPro

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GoPro Phantom Quadcopter Flying over Liberty Square Luxury Senior Apartments
Trying the GoPro DJI Phantom Quadcopter over Liberty Square Luxury Senior Apartments.

By: David Pestana

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GoPro

Aureus Mining Inc. – Ball mill order for the New Liberty Gold Project

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TSX : AUE AIM : AUE

TORONTO , May 7, 2013 /CNW/ - Aureus Mining Inc. (TSX: AUE / AIM: AUE) ("Aureus" or the "Company") is pleased to announce that it has placed an order for the ball mill for the New Liberty Gold Project ("New Liberty" or the "Project") in Liberia , which is the key plant item as described in its independent technical report dated 1October2012. The placement of this order is part of Aureus' strategy to source the longer-lead key plant items for the New Liberty process plant in sufficient time to facilitate the successful achievement of first gold in December 2014 .

An order has been placed with NCP International Ltd ("NCP") for the supply, delivery and installation of a ball milling system, which is due for delivery in May 2014 . The ball mill has a rating of 145t/hr and is capable of processing at a rate of up to 1.1Mtpa of ore. The civil foundations will have been completed by the time of delivery, ready for the erection and assembly of the mill and supporting equipment. The mill is a critical component in the commissioning process and pre-commissioning checks on the mill are scheduled to be carried out in October 2014 , with first gold production on track for December 2014 .

The other key plant items that will be ordered in Q22013 include the crushers, apron feeder, slurry pumps, spillage pumps, water pumps, carbon pumps, screens as well as the re-grind mill.

The procurement schedule for the ordering of key plant items is being driven by the DRA engineering team and the engineering activities for the overall plant construction are well progressed.

Commenting on the ordering of key plant items, David Reading , President and Chief Executive Officer of Aureus, said:

"We continue to make significant progress on the development and construction of New Liberty. The ordering of the ball mill is another critical step to ensure the timely and successful development of the Project. The placing of the mill order is an exciting step for Aureus, as the mill is the heart of our new process plant. We are pleased to be associated with NCP, which brings many years of milling experience to the Project.

"As a consequence of having all permits in place, key management personnel, an owner team assembled and project debt financing process in place, Aureus continues to de-risk the Project and is well placed to achieve first gold by December 2014."

About Aureus Mining Inc.

The Company's assets include the New Liberty gold deposit in Liberia (the "New Liberty Gold Project" or the "Project"), which has an estimated proven and probable reserve of 910,000 ounces of gold grading 3.3 g/t and an estimated measured and indicated mineral resource of 1,143,000 ounces of gold grading 3.6 g/t and an estimated inferred mineral resource of 593,000 ounces of gold grading 3.2 g/t. A feasibility study has been completed on the Project and construction has commenced with initial earthworks. The Project is expected to have an eight and a half year mine life and annual production of 120,000 ounces for the first five years of production. The Company has financed the Project's equity funding requirement and is in advanced discussions with interested parties to fund the balance.

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Aureus Mining Inc. - Ball mill order for the New Liberty Gold Project

Liberty Institute Vows To Protect Religious Freedom Of Persecuted Christian Military

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DALLAS, May 6, 2013 /PRNewswire-USNewswire/ -- Liberty Institute announces the launch of the Armed Forces Religious Liberty 800 hotline 800-259-9109 and petition drive to support persecuted members of the United States Military, threatened with court martial for sharing their Christian faith under the Pentagon's unconstitutional, new policy restricting proselytizing. In addition, the constitutional attorneys, some of whom served in the military, vow to provide legal defense for men and women service members who contact Liberty Institute to protect their First Amendment rights. To view the online petition, visit: https://secure.giveworks.net/m/liberty/armed_forces_petition?src=ban1112

(Logo - http://photos.prnewswire.com/prnh/20120523/DC12743LOGO-b)

In 2010, Liberty Institute successfully stopped President Obama's Department of Veterans Affairs from banning God at funerals in veterans' cemeteries, and in late 2012 following 13 years of litigation, the attorneys, on behalf of The American Legion, restored the Mojave Desert Veterans Memorial Cross that honors the sacrifice of World War I Veterans. Currently, Liberty Institute continues its fight to prevent the ACLU from tearing down the historic Mt. Soledad Veterans Memorial Cross that overlooks San Diego, CA.

"The Pentagon released an appalling official statement that I didn't believe at first, but unfortunately it's true. They are about to implement a new policy under which any members of the military "caught" talking about their Christian faith will be subject tocourt martialorimprisonment!" said Liberty Institute President and CEO Kelly Shackelford. "We are establishing this emergency hotline to protect our armed forces members, who can call and get free legal representation when they are persecuted for their Christian faith."

The Armed Forces Religious Liberty hotline and petition drive directly responds to the implementation of the Pentagon's new policies formulated by avowed atheist Mikey Weinstein, founder of the Military Religious Freedom Foundation. In recent news articles, Weinstein made pejorative remarks about Christians, recommended that military service members sharing their faith should be subject to court martial and that the government should abolish the Chaplains Corps.

About Liberty Institute

Liberty Institute is a nonprofit legal group dedicated to restoring and defending religious liberty across America in our schools, for our churches, and throughout the public arena. Liberty Institute's vision is to reestablish liberty in accordance with the principles of our nation's founders. Visit http://www.LibertyInstitute.org for more information.

SOURCE Liberty Institute

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Liberty Institute Vows To Protect Religious Freedom Of Persecuted Christian Military

Liberty Global Misses 1Q Earnings – Analyst Blog

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Liberty Global Inc. ( LBTYA ) declared mixed financial results for the first quarter of 2013. While net earnings fell below the Zacks Consensus Estimate, revenues beat the same. In the reported quarter, the company added 373,000 organic revenue generating units (RGU), down 16.2% year over year. Liberty Global currently has a Zacks Rank #3 (Hold).

Quarterly GAAP net loss was $1 million or a break-even per share compared with a net loss of $25.7 million or 9 cents per share in the prior-year quarter. However, first-quarter 2013 adjusted earnings per share of 9 cents were way below the Zacks Consensus Estimate of 28 cents. Quarterly total revenue of $2,767.7 million was up 9.1% year over year, easily surpassing the Zacks Consensus Estimate of $2,714 million.

Quarterly cost of operations was $1,027 million, up 14.4% year over year. Selling, General and Administrative expenses were $497.9 million, up 5.6% year over year. In the first quarter of 2013, operating income was $525.4 million, up 6.3% year over year.

During the first quarter of 2013, Liberty Global generated $557.7 million of cash from operations compared with $805.8 million in the year-ago period. Free cash flow in the reported quarter was $23.1 million compared with $241.9 million in the prior-year quarter.

At the end of the first quarter of 2013, Liberty Global had $2,906.8 million of cash and marketable securities and $29,600.1 million of outstanding debt on its balance sheet compared with $2,989 million of cash and marketable securities and $27,524.5 million of outstanding debt at the end of 2012.

Subscriber Statistics

As on Mar 31, 2013, Liberty Global had 19.7457 million customers in 13 countries. Out of the total, customer count at UPC Broadband, Telnet and VTR was 16.1984 million, 2.1062 million and 1.1679 million, respectively. Puerto Rico and Chile had 273,200 customers. The total Single-Play customer count was10.4666 million, down 6.8% year over year. The total Double-Play customer count was 3.092 million, up 5.9% year over year. The total Triple-Play customer count was 6.1871 million, up 13.8% year over year.

During the reported quarter, Liberty Global added 373,000 net RGUs including net gains of 233,000 and 231,000 subscribers, respectively, for broadband Internet and telephony services and a net loss of 92,000 subscribers for video services. In the first quarter, the company added 217,000 digital video subscribers. At present, the company has more than 200,000 Horizon TV subscribers (145,000 in the Netherlands and 55,000 in Switzerland). Recently, Liberty Global started offering Horizon TV in Ireland and will also deploy it in Germany later this year.

Segment wise Results

Total revenue from the total UPC Broadband division was $1,801.4 million, up 5.6% year over year. Within this segment, revenues from Western Europe were $1,481.6 million, up 6.1% year over year. Revenues from Central and Eastern Europe were $287.8 million, up 2.5% year over year. Revenues from Central and other operation were $32 million, up 13.5% year over year. In the reported quarter, Telenet revenues were $536.2 million, up 12.3% year over year. VTR revenues were $250.4 million, up 11.5% year over year. Corporate and other revenues were $199.3 million, up 31.6% year over year.

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Liberty Global Misses 1Q Earnings - Analyst Blog

Liberty Global Reports First Quarter 2013 Results

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ENGLEWOOD, Colo.--(BUSINESS WIRE)--

Liberty Global, Inc. (Liberty Global, LGI, or the Company) (NASDAQ: LBTYA, LBTYB and LBTYK), today announces financial and operating results for the first quarter ended March 31, 2013 (Q1 2013). Highlights for Q1 2013 as compared to the same period for 2012 (Q1 2012) (unless noted) include:

Liberty Globals President and CEO Mike Fries commented, Our track record of strong operating and financial performance from 2012 continued into the first quarter of 2013. We delivered mid-single-digit rebased revenue and OCF growth of 6% and 4%, respectively, with both results comparing favorably to the prior year period. Fueled by the addition of 1.5 million RGUs and over 500,000 mobile subscriptions over the last twelve months, we posted our fifth consecutive quarter with rebased revenue growth of better than 5%, led by Belgium and Germany.

Innovation remains a core focus this year as we continue to invest in the development of new product offerings. We launched our Horizon TV platform in Switzerland in Q1, with Ireland and Germany to follow later this year. Through April, we had over 200,000 Horizon TV subscribers in the Netherlands and Switzerland. In addition, we have significantly increased our broadband speeds in markets like the Netherlands, where we have key bundles positioned with 100 Mbps and a top-tier bundle at 200 Mbps.

We remain on track to complete the acquisition of Virgin Media4 before the end of the second quarter. We recently received regulatory approval from the European Commission and both companies have scheduled their respective shareholder votes for early June to approve the transaction. With a combined customer base of 25 million and an aggregate reach of over 45 million homes passed, we are excited about our collective growth potential and we will remain focused on delivering superior value to customers and shareholders.

Year-to-date, we have been active in the capital markets, raising the necessary financing to fund the Virgin Media acquisition, as well as opportunistically refinancing roughly $5 billion of debt at the UPC Holding and Unitymedia KabelBW credit pools. Upon completion of the Virgin Media transaction, we expect to have more than sufficient liquidity to fulfill our $3.5 billion share buyback target over the ensuing two years.

Subscriber Statistics

At March 31, 2013, our 19.7 million unique customers received 35.2 million total services, an increase of over 5% (inclusive of acquisitions) in our RGU base since March 31, 2012. On a product level, our RGU base consisted of 18.2 million video, 9.5 million broadband internet and 7.5 million telephony subscriptions at quarter-end. Bundling remains an important driver of our subscriber growth, particularly sales of our triple-play product offerings, as over 30% of our customer base, or approximately 6.2 million customers, subscribed to triple-play packages at March 31, 2013. In total, we finished the first quarter with aggregate bundled customers of 9.3 million (or 47% of our total customer base), which reflects an increase of over 920,000 (inclusive of acquisitions) over the last twelve months.

During Q1 2013, we added 373,000 RGUs as compared to 445,000 RGUs in Q1 2012. Geographically, our RGU additions in Central and Eastern Europe (CEE) grew year-over-year by 30% to 70,000 and Latin America5 increased by 88% to 63,000, while western Europe6 experienced a decline of 33% to 240,000. The lower comparative western European result was directly attributable to our German and Dutch businesses, as each had their best quarterly subscriber performance of 2012 in the first quarter. With respect to Germany, we added 169,000 RGUs during Q1 2013 as compared to the record 219,000 we achieved in Q1 2012. A portion of this lower result is due to a housing association contract that we lost in Germany in December 2011, as approximately 16,000 of the impacted RGUs were transferred to the new provider during the quarter.

With respect to our Dutch operation, we lost 3,000 RGUs in Q1 2013, as compared to a gain of 42,000 in Q1 2012. However, this result is consistent with our Dutch subscriber performance in both the third and fourth quarters of 2012, as the Dutch market remains very competitive. To that point and subsequent to quarter-end, we further strengthened our customer proposition in the Netherlands, as we introduced basic digital unencryption and launched new triple-play bundles that include increased broadband speeds with our primary bundle offering 100 Mbps along with the introduction of a 200 Mbps internet product in certain areas.

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Liberty Global Reports First Quarter 2013 Results

Liberty Global Misses 1Q Earnings

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Liberty Global Inc. (LBTYA) declared mixed financial results for the first quarter of 2013. While net earnings fell below the Zacks Consensus Estimate, revenues beat the same. In the reported quarter, the company added 373,000 organic revenue generating units (:RGU), down 16.2% year over year. Liberty Global currently has a Zacks Rank #3 (Hold).

Quarterly GAAP net loss was $1 million or a break-even per share compared with a net loss of $25.7 million or 9 cents per share in the prior-year quarter. However, first-quarter 2013 adjusted earnings per share of 9 cents were way below the Zacks Consensus Estimate of 28 cents. Quarterly total revenue of $2,767.7 million was up 9.1% year over year, easily surpassing the Zacks Consensus Estimate of $2,714 million.

Quarterly cost of operations was $1,027 million, up 14.4% year over year. Selling, General and Administrative expenses were $497.9 million, up 5.6% year over year. In the first quarter of 2013, operating income was $525.4 million, up 6.3% year over year.

During the first quarter of 2013, Liberty Global generated $557.7 million of cash from operations compared with $805.8 million in the year-ago period. Free cash flow in the reported quarter was $23.1 million compared with $241.9 million in the prior-year quarter.

At the end of the first quarter of 2013, Liberty Global had $2,906.8 million of cash and marketable securities and $29,600.1 million of outstanding debt on its balance sheet compared with $2,989 million of cash and marketable securities and $27,524.5 million of outstanding debt at the end of 2012.

Subscriber Statistics

As on Mar 31, 2013, Liberty Global had 19.7457 million customers in 13 countries. Out of the total, customer count at UPC Broadband, Telnet and VTR was 16.1984 million, 2.1062 million and 1.1679 million, respectively. Puerto Rico and Chile had 273,200 customers. The total Single-Play customer count was10.4666 million, down 6.8% year over year. The total Double-Play customer count was 3.092 million, up 5.9% year over year. The total Triple-Play customer count was 6.1871 million, up 13.8% year over year.

During the reported quarter, Liberty Global added 373,000 net RGUs including net gains of 233,000 and 231,000 subscribers, respectively, for broadband Internet and telephony services and a net loss of 92,000 subscribers for video services. In the first quarter, the company added 217,000 digital video subscribers. At present, the company has more than 200,000 Horizon TV subscribers (145,000 in the Netherlands and 55,000 in Switzerland). Recently, Liberty Global started offering Horizon TV in Ireland and will also deploy it in Germany later this year.

Segment wise Results

Total revenue from the total UPC Broadband division was $1,801.4 million, up 5.6% year over year. Within this segment, revenues from Western Europe were $1,481.6 million, up 6.1% year over year. Revenues from Central and Eastern Europe were $287.8 million, up 2.5% year over year. Revenues from Central and other operation were $32 million, up 13.5% year over year. In the reported quarter, Telenet revenues were $536.2 million, up 12.3% year over year. VTR revenues were $250.4 million, up 11.5% year over year. Corporate and other revenues were $199.3 million, up 31.6% year over year.

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Liberty Global Misses 1Q Earnings

Liberty Energy Corp. Announces Appointment Of Industry Veteran CEO and COO Team

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HOUSTON, May 7, 2013 /PRNewswire/ -- Liberty Energy Corp. (LBYE) ("Liberty" or "the Company") is pleased to announce the appointment of two industry veterans, Miles D Bender and William T Jones, to the executive leadership team. Mr. Bender will come on board as the new Chief Executive Officer, Director and Chairman of the Board of Directors, while WilliamT Jones will serve as the Chief Operating Officer.

Mr. Bender has been involved in the energy business for twenty-nine years. He was a founder, President and CEO of National Energy Group, Inc. ("NEG"), which he took public and which he helped grow from startup to over $300 million in proved reserve value, revenues of $54.7 million and cash flow of over $30 million. NEG owned working interests in more than 1,000 wells of which the Company operated over 90% with just under 100 employees. Market capitalization of NEG grew to nearly $350 million. He led NEG with respect to the identification, negotiation, completion, and integration of some 16 acquisitions for NEG, over 25 during his career. He led NEG in completing a $120 million acquisition and raising $175 million in 1996 and an additional $65 million in 1997. During his career he raised over $350 million for various enterprises. NEG was later sold in 2006 to publicly traded SandRidge Energy. He was President of the Georgia Oil and Gas Association and a Director and member of the Executive Committee of the Independent Petroleum Association of America (IPAA).

Mr. Jones has been a licensed Petroleum Engineer for 40 years. In 2004, he formed Redmon Oil Company in Dallas, Texas. Prior to that, he was Chief Operating Officer and Principal of Lynx Production Company, Dallas, Texas, from 1999 to 2004. Mr. Jones joined National Energy Group, Inc. of Dallas, Texas, as Vice President, Production and Engineering in 1994 and was promoted to Senior Vice President, Operations in 1996. After receiving a B.S. degree in Petroleum Engineering from Mississippi State University in 1968, he began his career with Shell Oil Company in Houston, Texas. In 1973, Mr. Jones joined Tenneco Oil Company. After Tenneco Oil, Mr. Jones held various engineering and management positions with several independent oil companies in Dallas and Ft. Worth, Texas. From 1989 to 1991, he was Senior Petroleum Engineer for Snyder Oil Company in Fort Worth before moving to Abilene to become Chief Operating Officer of Ard Drilling Company from 1992 until 1994.

"We joined Liberty as a platform for our'under the radar' acquisition strategy, targeting acquisitions within the exploration & production and oilfield services sectors," stated CEO Miles Bender.

Please contact David Sexton directly at 1-832-708-3909 or email info@energy-liberty.com to request additional information and ongoing updates.

ABOUT LIBERTY: Liberty Energy Corp. (OTCBB:LBYE) is an Independent Oil and Gas Exploration and Production Company dedicated to the sourcing and production of oil and gas onshore in the United States. Headquartered in Houston, Texas, the company has signed agreements to acquire leases and royalties in Texas, covering several leases with extensive potential for future development. Currently the company is targeting mergers & acquisitions within the E & P or oilfield services of the upstream oil & gas segment.

Certain statements in this press release are 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. Liberty Energy Corp. bases these forward-looking statements on current expectations and projections about future events, based on information currently available. The forward-looking statements contained in this press release may also include statements relating to Liberty Energy Corp.'s anticipated financial performance, business prospects, new developments, strategies and similar matters. Liberty Energy Corp. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.

ON BEHALF OF THE BOARD OF DIRECTORS,

Miles Bender, CEO & Chairman Liberty Energy Corp

Liberty Energy Corp. Two Allen Center Suite 1600 1200 Smith Street Houston, TX 77002 Tel: 1-713-353-4700 Fax: 1-713-353-4701 Email: info@energy-liberty.com Website: http://www.energy-liberty.com Facebook: http://www.facebook.com/LibertyEnergyCorp

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Liberty Energy Corp. Announces Appointment Of Industry Veteran CEO and COO Team


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