|By Marketwired .||
|January 16, 2014 02:20 PM EST||
TORONTO, ON -- (Marketwired) -- 01/16/14 -- Sintana Energy Inc. (TSX VENTURE: SNN) ("Sintana" or the "Company") announces that Patriot Energy Oil & Gas Inc. ("Patriot"), wholly owned by the Company, has received written notice from the Autoridad Nacional de Licencias Ambientales of Colombia (the "ANLA") of final approval of the Environmental License effective January 17, 2014 for the VMM-37 Block in Colombia's Middle Magdalena Basin ("VMM-37" or "Block").
The Middle Magdalena Basin contains a number of oil and natural gas rock intervals that are either conventional or unconventional play types. Management believes that VMM-37 has multiple hydrocarbon prospective formations and both play types.
Under a Farmout Agreement (the "Agreement") with ExxonMobil Exploration Colombia Limited ("ExxonMobil"), a wholly owned subsidiary of Exxon Mobil Corporation, and with the approval of the Agencia Nacional de Hidrocarburos de Colombia (the "ANH"), ExxonMobil has acquired an undivided 70% participation interest and operatorship in VMM-37 to explore and develop the unconventional reservoirs. For purposes of the Agreement, unconventional formations are defined as the La Luna and deeper.
Patriot retains the remaining 30% interest in the unconventional play as well as a 100% participation interest in the conventional resources overlying the top of the unconventional interval.
Sintana's CEO, Doug Manner, remarked, "Now that we have ANLA approval of the VMM-37 Environmental License, the partners have initiated execution of a previously developed and internally approved, step-by-step, pre-drill plan. Progress updates will be issued from time-to- time as milestones are achieved and results become available".
A more detailed presentation of historical and technical information regarding Colombia's Middle Magdalena Basin and the VMM-37 Block is included in the Company's most recent Quarterly management's discussion and analysis which is available on both SEDAR (www.sedar.com) and Sintana's website at www.sintanaenergy.com
ABOUT SINTANA ENERGY:
The Company is primarily engaged in petroleum and natural gas exploration and development activities in Colombia. The Company's exploration strategy is to acquire, explore, develop and produce superior quality assets with significant reserve potential.
The Company's private participation interests in Colombia include 100% of the conventional and 30% of the unconventional resources in the 43,158 acre VMM-37 Block, located in the Middle Magdalena Basin. Sintana also has a 30% private participation interest in the 58,570 acre Talora Block, 30% in 272,021 acres in the COR-39 & COR-11 Blocks and 25% carried private participation interests in the 154,909 acre VMM-4 and the 59,522 acre VMM-15 Blocks all located in the Magdalena Basin. In the Llanos Basin, the Company has a carried 25% private participation interest in the 11,624 acre LLA-18 Block. These interests are subject to all applicable regulatory and governmental approvals, including those of Colombia's National Hydrocarbon Agency (ANH).
On behalf of Sintana Energy
Chief Executive Officer
For additional information or to receive timely updates about Sintana's South America projects and recent corporate activities please visit the Company's website at www.sintanaenergy.com or email [email protected].
This news release includes forward-looking statements related to the expected occurrences in relation to the properties identified. A multitude of factors can cause actual events and results to differ significantly from any anticipated development and although the Company believes that the expectations represented by such forward- looking statements are reasonable at the time of preparation; there can be no assurance that such expectations will be realized in whole or in part. These forward looking statements are based on assumptions that the Company has made concerning the proposed exploration and development activities at VMM-37, oil and natural gas industry in Colombia, that all applicable regulatory approvals will be obtained, the reliability of available data regarding the properties and increasing demand for oil and natural gas. Risk factors which may cause actual results to differ from those anticipated in such forward looking statements include but are not limited to, the risk that Exxon may exercise its option to withdraw from the VMM-37 project at various stages of the work program, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, the uncertainty of conducting operations under a foreign regime, exploration risk, the uncertainty of obtaining all applicable regulatory approvals, the availability of labour and equipment, the fluctuating prices of oil and natural gas, the availability of financing and the Company's dependence on Sintana's management personnel and other participants in the property areas, including Exxon. Neither the Company nor any of its subsidiaries nor any of its officers or employees guarantee that the assumptions underlying such forward-looking statements are free from errors, nor do any of the foregoing accept any responsibility for the future accuracy of any of the opinions expressed in this document or the actual occurrence of forecasted developments.
Undue reliance should not be placed on these forward-looking statements as there can be no assurance that such expectations will be realized. The forward-looking statements contained in this document are made as of the date hereof and the Company 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 securities laws. This press release does not constitute an offer to sell or a solicitation to buy any of the securities of Sintana Energy Inc. in the United States.
Neither the 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.
Chief Executive Officer
Qosmos, the market leader for IP traffic classification and network intelligence technology, has announced that it will launch the Launch L7 Viewer at CloudExpo | @ThingsExpo Silicon Valley, being held November 1 – 3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The L7 Viewer is a traffic analysis tool that provides complete visibility of all network traffic that crosses a virtualized infrastructure, up to Layer 7. It facilitates and accelerates common IT tasks such as VM migra...
Oct. 27, 2016 01:30 AM EDT Reads: 408
A completely new computing platform is on the horizon. They’re called Microservers by some, ARM Servers by others, and sometimes even ARM-based Servers. No matter what you call them, Microservers will have a huge impact on the data center and on server computing in general. Although few people are familiar with Microservers today, their impact will be felt very soon. This is a new category of computing platform that is available today and is predicted to have triple-digit growth rates for some ...
Oct. 27, 2016 01:00 AM EDT Reads: 34,288
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...
Oct. 27, 2016 12:45 AM EDT Reads: 2,140
So you think you are a DevOps warrior, huh? Put your money (not really, it’s free) where your metrics are and prove it by taking The Ultimate DevOps Geek Quiz Challenge, sponsored by DevOps Summit. Battle through the set of tough questions created by industry thought leaders to earn your bragging rights and win some cool prizes.
Oct. 27, 2016 12:30 AM EDT Reads: 4,185
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Oct. 27, 2016 12:00 AM EDT Reads: 1,108
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...
Oct. 27, 2016 12:00 AM EDT Reads: 3,535
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
Oct. 27, 2016 12:00 AM EDT Reads: 11,125
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Oct. 26, 2016 11:30 PM EDT Reads: 9,747
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
Oct. 26, 2016 11:00 PM EDT Reads: 3,917
Most people haven’t heard the word, “gamification,” even though they probably, and perhaps unwittingly, participate in it every day. Gamification is “the process of adding games or game-like elements to something (as a task) so as to encourage participation.” Further, gamification is about bringing game mechanics – rules, constructs, processes, and methods – into the real world in an effort to engage people. In his session at @ThingsExpo, Robert Endo, owner and engagement manager of Intrepid D...
Oct. 26, 2016 11:00 PM EDT Reads: 9,906
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...
Oct. 26, 2016 11:00 PM EDT Reads: 639
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
Oct. 26, 2016 09:45 PM EDT Reads: 1,132
SYS-CON Events announced today that CDS Global Cloud, an Infrastructure as a Service provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CDS Global Cloud is an IaaS (Infrastructure as a Service) provider specializing in solutions for e-commerce, internet gaming, online education and other internet applications. With a growing number of data centers and network points around the world, ...
Oct. 26, 2016 09:45 PM EDT Reads: 3,663
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, will discuss how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team a...
Oct. 26, 2016 09:30 PM EDT Reads: 679
SYS-CON Events announced today that Transparent Cloud Computing (T-Cloud) Consortium will exhibit at the 19th International Cloud Expo®, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The Transparent Cloud Computing Consortium (T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data proces...
Oct. 26, 2016 08:15 PM EDT Reads: 1,475