Welcome!

News Feed Item

Quattro Continues Strong Advances on Its Business Plan and Provides 2014 Guidance and Operational Update

CALGARY, ALBERTA -- (Marketwired) -- 02/25/14 -- Quattro Exploration And Production Ltd. (TSX VENTURE: QXP) ("Quattro" or the "Company") is pleased to provide guidance on its current operations. The Company continues with the integration of the asset acquisitions completed in 2013 and is tracking towards its projected average production rate of 1,250 boepd in the 1st quarter of 2014. The production gains are anticipated to be achieved through a combination of remediation work and consolidation of non-operating interests within the Company's core areas, consisting of an extensive network of processing facilities and pipeline gathering systems.

In addition to these efforts, the Company continues to work on further opportunities in order to achieve the Company's goal of exiting the first quarter with petroleum production of between 1,400 and 1,500 boepd, putting Quattro on track towards its further goal of 2,000 boepd by the beginning of the 3rd quarter of 2014.

The Company is also pleased to introduce the following members to the Quattro Team;

Brent McGillivray, P. Eng. - Manager of Operations for Western Canadian Sedimentary Basin.

Mr. McGillivray brings 25 years of experience with junior, intermediate and senior oil and gas companies in Western Canada. He participated as a member in multidisciplinary teams ranging from operations, facilities, production, and completion to exploitation roles. He has worked with Amoco Canada, Husky Oil, Gulf Canada, Anderson Exploration and Ketch Resources Trust. He was a member of a successful private junior oil and gas executive management team that sold Westpoint Energy (formerly Slade Energy) in 2000. Mr. McGillivray has been a professional engineer and a member of the Association of Professional Engineers, Geologist and Geophysicists of Alberta since 1993.

Roberto Rodriguez, P. Eng. - Manager of Capital Projects

Mr. Rodriguez studied the management of engineering projects at Universidad Catolica Andres Bello inCaracas in 1998, having received a Bachelor of Science in Mechanical Engineering from the University of Portland in 1985. In addition to his degree, he is an ISO 9001:2008 certified principal auditor with a project management professional license (PMP). He has also completed numerous leadership and personal development seminars and is currently a member of the Project Management Institute, the Association of Professional Engineers, Geoscientists of Alberta (APEGA), and the RABQSA International Association (now Exemplar Global). Prior to joining Quattro, Mr. Rodriguez has held various roles including as a Construction Engineer, Project Engineer and Manager of Engineering, as well as a Project Manager (including Quality & HSE) Director for PDVSA, CNRL, Husky Energy, SNC LAVALIN, and Toyo Engineering Canada, in Venezuela, U.S.A. and Italy, residing for the past 10 years in Canada.

Sherry Crawford - Production Accounting

Ms. Crawford graduated from the University of Saskatchewan with a BA and received her accounting administrative Certificates from Canadian Armed Forces subsequently receiving her CAPPA certification from Mount Royal College. Ms. Crawford has adapted her extensive skills in Revenue and Production accounting positioning her to hold various positions in these areas since 1995 with Zargon Oil and Gas, EOG Resources, and Bonavista Energy Trust, as an employee, and with Devon Energy and others as a consultant since 2005.

The current Quattro Team is pleased to add these professionals in Calgary and also welcome the contract operators of its newly-acquired Alberta and British Columbia assets. Leonard Van Betuw, President and CEO said, "We finished 2013 by completing the initial phases of our business plan which formed the foundation and confidence for the addition of 2 accomplished professionals such as Brent and Roberto, along with 2 office staff, bringing the team in Calgary to 8 along with a further 6 field operators within the core regions of the Company. The integration of this team gives us the critical mass to integrate further opportunities in an efficient and accretive manner once they have been identified."

Quattro is also pleased to announce the installation and preliminary implementation of the proven Entero One© software which provides Quattro the capacity to integrate engineering, production and financial reporting into one seamless package. This addition will provide the Company the capacity to efficiently expand and track costs both within Canada and internationally as further opportunities develop.

Leonard Van Betuw added further "It is now the Company's goal to inform the investment community of the milestones Quattro has achieved and the future ones we are looking to exceed. To this end, we are pleased to announce the launching of our new website at www.qxp-petro.com. Quattro and its team encourage our shareholders both current and future to explore the growing value proposition that Quattro continues to be."

Quattro looks forward to aggressively advancing its strategy of developing a diversified low risk material growth plan established in western Canada that provides the Company and its shareholders the certainty that its production base will continue to profitably grow materially both in Canada and Central America.

About Quattro Exploration and Production Ltd.

Quattro Exploration and Production Ltd. ("QXP") continues to focus on the conventional exploration and developmen t of oil and natural gas reserves in Western Canada, with an expanding presence in Alberta and BC. Our core low risk production base will provide us the capacity to aggressively pursue a series of high impact exploration and development efforts in Central and South America. The company intends to balance this portfolio of activities to assure its shareholders that it achieves material growth in both reserves and production.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward - looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's registered filings which are available at www.sedar.com.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

BOE presentation:

Barrel ("bbl") of oil equivalent ("boe") amounts may be misleading particularly if used in isolation. All boe conversions in this report are calculated using a conversion of six thousand cubic feet of natural gas to one equivalent barrel of oil (6 mcf=1 bbl) and is based on an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head.

Trading in the securities of Quattro Exploration & Production Ltd. should be considered highly speculative. 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, paneli...
@DevOpsSummit at Cloud Expo taking place Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center, Santa Clara, CA, is co-located with the 21st International 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 ...
"We are a monitoring company. We work with Salesforce, BBC, and quite a few other big logos. We basically provide monitoring for them, structure for their cloud services and we fit into the DevOps world" explained David Gildeh, Co-founder and CEO of Outlyer, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
Join us at Cloud Expo June 6-8 to find out how to securely connect your cloud app to any cloud or on-premises data source – without complex firewall changes. More users are demanding access to on-premises data from their cloud applications. It’s no longer a “nice-to-have” but an important differentiator that drives competitive advantages. It’s the new “must have” in the hybrid era. Users want capabilities that give them a unified view of the data to get closer to customers and grow business. The...
Artificial intelligence, machine learning, neural networks. We’re in the midst of a wave of excitement around AI such as hasn’t been seen for a few decades. But those previous periods of inflated expectations led to troughs of disappointment. Will this time be different? Most likely. Applications of AI such as predictive analytics are already decreasing costs and improving reliability of industrial machinery. Furthermore, the funding and research going into AI now comes from a wide range of com...
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
"When we talk about cloud without compromise what we're talking about is that when people think about 'I need the flexibility of the cloud' - it's the ability to create applications and run them in a cloud environment that's far more flexible,” explained Matthew Finnie, CTO of Interoute, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business...
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...
What's the role of an IT self-service portal when you get to continuous delivery and Infrastructure as Code? This general session showed how to create the continuous delivery culture and eight accelerators for leading the change. Don Demcsak is a DevOps and Cloud Native Modernization Principal for Dell EMC based out of New Jersey. He is a former, long time, Microsoft Most Valuable Professional, specializing in building and architecting Application Delivery Pipelines for hybrid legacy, and cloud ...
SYS-CON Events announced today that Ayehu will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara California. Ayehu provides IT Process Automation & Orchestration solutions for IT and Security professionals to identify and resolve critical incidents and enable rapid containment, eradication, and recovery from cyber security breaches. Ayehu provides customers greater control over IT infras...