|By Marketwired .||
|January 15, 2014 02:17 PM EST||
MANCHESTER, NH -- (Marketwired) -- 01/15/14 -- Management of QED Connect, Inc. (OTC Pink: QEDN) today provided updates regarding the recent acquisition of AFON 2010, Ltd. by Energy Today, Inc. (OTC Pink: NRGT), a portfolio company of QED.
On January 2nd, Energy Today, Inc. filed a Form 8-K with the Securities and Exchange Commission disclosing its purchase of 100% of the equity interest in AFON 2010 Ltd. for 2,666,000 shares of Energy Today, Inc. AFON 2010 Ltd. was formed in the Ukraine as an oil and gas company to hold oil and gas leases in western Ukraine. These concessions are located within the South Terenyans'ka area in the Nadvirnyans'ky district of Ivano-Frankivs'k region 5 km northeast from the village of Kosmach.
The Western Ukrainian Geophysical Prospecting Expedition (WUGRE), an independent oil and gas consulting firm, performed the Geological Survey on AFON 2010's leases. A team of seven Geologists concluded that the concession is viable and should be prepared for deep well drilling. The WUGRE was set up in 1948 as the basis of State Geophysical Company "Ukrheofizyka" for assisting in expanding oil and gas survey works in the western region of Ukraine and Moldavia. They have completed over 150,000 running kilometers of seismic profiles.
The survey by WUGRE on AFON 2010's leases determined that the concessions have proven and probable reserves of 16,357 thousand metric tons. The characteristics of subsoil report validates that the reserves can be classified as Category 3 (proven and probable).
According to the Society of Petroleum Engineers (SPE), 1 ton of oil equals 7.33 barrels of oil. This means that AFON 2010's total of 16,357 thousand tons of reserves equals 119,896,810 barrels of proven and probable reserves. The SPE and the World Petroleum Council (WPC, formerly World Petroleum Congresses), define proven reserves as having an over 90% chance of being recoverable with probable reserves having a minimum of 50% chance of being present.
AFON 2010 Ltd.'s Special Permit for the use of subsoil for its property leases was approved by the State Department of Ecology and Natural Resources in Ivano-Frankivs'k region of 14.12.2005/ecological card number 293/; Ivano-Frankivs'k Regional Council -- 15.03.2001 number 14-194/112/313; Ministry of Energy -- 04.02.2010 number 08/31-189/1 for a period of 5 years.
Additional information and supporting documentation of the acquisition can be found at the Company's website under the Natural Resources section:
Tom Makmann, President and CEO commented, "We believe that the acquisition of AFON has the possibility to provide QED and its portfolio company, Energy Today, substantial value. The spot price of crude oil is over $90 a barrel and upon completing the funding and development of the concession, the resulting income should offer the shareholders increased value."
QED recently updated its financials and obtained OTC Current Information Status.
In response to several shareholder inquires, the Company does not have any current plans for a reverse.
About QED Connect, Inc.
QED Connect, Inc. is a holding company which makes acquisitions, investments, and enters into strategic business partnerships. The Company works with organizations that are looking for capital, management assistance, or help in reaching their target markets to realize their true potential. QED primarily focuses on businesses that are producing revenue and that can expand into additional markets or sectors. QED looks beyond current conditions such as underperformance of an existing asset due to inadequate capital, limited development expertise or a lack of strategic vision, and is able to recognize short and long-term asset potential and opportunities to add value. This business model achieves the Company's goals while expanding its overall revenue and profits and diversifies through entry into the multiple market segments. By helping its partners and subsidiaries realize success the resulting growth, enhances QED's ability to increase shareholder value. www.qedconnect.com
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of QED to be materially different from those expressed or implied by such forward-looking statements. QED's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management infrastructure necessary to support the growth of its business; (iii) close the above acquisitions; (iv) competitive factors and developments beyond the Company's control; and (v) other risk factors.
For more information contact
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Aug. 30, 2016 11:15 AM EDT Reads: 549
SYS-CON Events announced today that Adobe has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of co...
Aug. 30, 2016 11:00 AM EDT Reads: 3,659
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
Aug. 30, 2016 10:30 AM EDT Reads: 377
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
Aug. 30, 2016 09:45 AM EDT Reads: 1,047
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Aug. 30, 2016 09:45 AM EDT Reads: 876
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Aug. 30, 2016 09:08 AM EDT Reads: 204
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
Aug. 30, 2016 08:45 AM EDT Reads: 907
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Aug. 30, 2016 05:45 AM EDT Reads: 2,469
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Aug. 30, 2016 02:30 AM EDT Reads: 1,861
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Aug. 30, 2016 02:00 AM EDT Reads: 2,248
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Aug. 30, 2016 01:30 AM EDT Reads: 3,053
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
Aug. 30, 2016 01:15 AM EDT Reads: 2,362
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Aug. 30, 2016 01:00 AM EDT Reads: 1,943
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Aug. 30, 2016 12:00 AM EDT Reads: 1,678
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Aug. 29, 2016 10:00 PM EDT Reads: 2,498