|By Marketwired .||
|February 25, 2014 06:00 AM EST||
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.
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.
Advances in technology and ubiquitous connectivity have made the utilization of a dispersed workforce more common. Whether that remote team is located across the street or country, management styles/ approaches will have to be adjusted to accommodate this new dynamic. In his session at 17th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., focused on the challenges of managing remote teams, providing real-world examples that demonstrate what works and what do...
Feb. 13, 2016 09:00 AM EST Reads: 340
As someone who has been dedicated to automation and Application Release Automation (ARA) technology for almost six years now, one of the most common questions I get asked regards Platform-as-a-Service (PaaS). Specifically, people want to know whether release automation is still needed when a PaaS is in place, and why. Isn't that what a PaaS provides? A solution to the deployment and runtime challenges of an application? Why would anyone using a PaaS then need an automation engine with workflow ...
Feb. 13, 2016 09:00 AM EST Reads: 240
Recognizing the need to identify and validate information security professionals’ competency in securing cloud services, the two leading membership organizations focused on cloud and information security, the Cloud Security Alliance (CSA) and (ISC)^2, joined together to develop an international cloud security credential that reflects the most current and comprehensive best practices for securing and optimizing cloud computing environments.
Feb. 13, 2016 08:00 AM EST
DevOps is not just last year’s buzzword. Companies with DevOps practices are 2.5x more likely to exceed profitability, market share, and productivity goals. But how do you enable high performance? What can you do right now to start? Find out from DevOps experts including Gene Kim, co-author of "The Phoenix Project," and the Dynatrace Center of Excellence.
Feb. 13, 2016 07:30 AM EST
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, will discuss using predictive analytics to ...
Feb. 13, 2016 06:45 AM EST Reads: 418
Silver Spring Networks, Inc. (NYSE: SSNI) extended its Internet of Things technology platform with performance enhancements to Gen5 – its fifth generation critical infrastructure networking platform. Already delivering nearly 23 million devices on five continents as one of the leading networking providers in the market, Silver Spring announced it is doubling the maximum speed of its Gen5 network to up to 2.4 Mbps, increasing computational performance by 10x, supporting simultaneous mesh communic...
Feb. 13, 2016 05:00 AM EST
Eighty percent of a data scientist’s time is spent gathering and cleaning up data, and 80% of all data is unstructured and almost never analyzed. Cognitive computing, in combination with Big Data, is changing the equation by creating data reservoirs and using natural language processing to enable analysis of unstructured data sources. This is impacting every aspect of the analytics profession from how data is mined (and by whom) to how it is delivered. This is not some futuristic vision: it's ha...
Feb. 13, 2016 04:45 AM EST Reads: 466
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
Feb. 13, 2016 03:45 AM EST Reads: 244
Father business cycles and digital consumers are forcing enterprises to respond faster to customer needs and competitive demands. Successful integration of DevOps and Agile development will be key for business success in today’s digital economy. In his session at DevOps Summit, Pradeep Prabhu, Co-Founder & CEO of Cloudmunch, covered the critical practices that enterprises should consider to seamlessly integrate Agile and DevOps processes, barriers to implementing this in the enterprise, and pr...
Feb. 13, 2016 03:00 AM EST Reads: 467
Sensors and effectors of IoT are solving problems in new ways, but small businesses have been slow to join the quantified world. They’ll need information from IoT using applications as varied as the businesses themselves. In his session at @ThingsExpo, Roger Meike, Distinguished Engineer, Director of Technology Innovation at Intuit, showed how IoT manufacturers can use open standards, public APIs and custom apps to enable the Quantified Small Business. He used a Raspberry Pi to connect sensors...
Feb. 13, 2016 02:30 AM EST Reads: 378
The principles behind DevOps are not new - for decades people have been automating system administration and decreasing the time to deploy apps and perform other management tasks. However, only recently did we see the tools and the will necessary to share the benefits and power of automation with a wider circle of people. In his session at DevOps Summit, Bernard Sanders, Chief Technology Officer at CloudBolt Software, explored the latest tools including Puppet, Chef, Docker, and CMPs needed to...
Feb. 13, 2016 02:30 AM EST Reads: 370
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, will discuss how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved effi...
Feb. 13, 2016 12:45 AM EST Reads: 281
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
Feb. 12, 2016 10:00 PM EST Reads: 250
Data-as-a-Service is the complete package for the transformation of raw data into meaningful data assets and the delivery of those data assets. In her session at 18th Cloud Expo, Lakshmi Randall, an industry expert, analyst and strategist, will address: What is DaaS (Data-as-a-Service)? Challenges addressed by DaaS Vendors that are enabling DaaS Architecture options for DaaS
Feb. 12, 2016 09:45 PM EST Reads: 389
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
Feb. 12, 2016 09:00 PM EST Reads: 137