|By Marketwired .||
|July 15, 2014 02:00 AM EDT||
DUBLIN, IRELAND -- (Marketwired) -- 07/15/14 -- Falcon Oil & Gas Ltd. (TSX VENTURE: FO)(AIM: FOG)(ESM: FAC) ("Falcon" or the "Company") is pleased to announce that initial drilling operations on the Besa-D-1 well have reached total depth ("TD") of 3,000 metres having encountered gas shows.
Besa-D-1 is the second of a planned three well programme to evaluate the gas potential of the Algyo Formation in the Mako Trough License. The well has now been cased to TD and is suspended pending further technical evaluation in order to determine an appropriate testing programme later this year. No operational problems occurred during drilling.
In January 2013, Falcon agreed a three-well drilling programme with Naftna industrija Srbije jsc ("NIS") to target the Algyo Play, whereby NIS made a cash payment of US$1.5 million to Falcon in February 2013, and agreed to drill three wells by July 2014 at their cost. The July 2014 date for completion of drilling and testing of the NIS three well programme has been extended to 31 December 2014. This extension has been granted to allow NIS to:
-- Complete the testing of Besa-D-1; -- Evaluate the hydrocarbon potential of the entire Mako Trough including the Deep Mako play; and -- Fulfill the third well obligation of the NIS three-well drilling programme.
Philip O'Quigley, CEO of Falcon commented:
"We are pleased to confirm that we have drilled, without any operational difficulties, the second of the three well drilling programme, with our partner NIS. The technical evaluation of the well results and the testing programme will take place during the second half of 2014.
In working together, Falcon and NIS have agreed to extend the completion date for the three well programme from July 2014 to 31 December 2014 in order to identify the appropriate location and geological target for the drilling of the third obligation well within our prospective acreage in the Mako Trough."
This announcement has been reviewed by Dr. Gabor Bada, Falcon's Head of Technical Operations. Dr. Bada obtained his geology degree at the Eotvos L. University in Budapest, Hungary and his PhD at the Vrije Aniversiteit Amsterdam, the Netherlands. He is a member of AAPG, EAGE and SPE.
About Falcon Oil & Gas Ltd.
Falcon is an international oil & gas company engaged in the acquisition, exploration and development of conventional and unconventional oil and gas assets, with the current portfolio spread between Australia, South Africa and Hungary. Falcon is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland with a technical team based in Budapest, Hungary.
For further information on Falcon Oil & Gas Ltd. please visit www.falconoilandgas.com.
About Naftna Industrija Srbije JSC (NIS)
NIS is one of the largest, vertically integrated oil and gas companies in Southeast Europe, focusing on exploration and production of hydrocarbons, refining of crude oil and sales of a broad range of petroleum products.
For further information on NIS please visit www.nis.rs.
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.
Gas shows: there is no certainty that any gas shows will eventually lead to discovery. Even if discovery is made, there is no certainty that it will be commercially viable to produce any portion of the resource.
Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
Falcon Oil & Gas Ltd. +353 1 417 1900
Philip O'Quigley, CEO +353 87 814 7042
Michael Gallagher, CFO +353 1 417 0814
John Craven, Non-Executive Chairman +353 1 417 1900
Billy Clegg +44 20 3757 4983
Georgia Mann +44 20 3757 4980
Davy (NOMAD & Joint Broker)
John Frain / Anthony Farrell +353 1 679 6363
GMP Securities Europe LLP (Joint Broker)
Rob Collins / Liz Williamson / Emily Morris +44 20 7647 2800
There will be 20 billion IoT devices connected to the Internet soon. What if we could control these devices with our voice, mind, or gestures? What if we could teach these devices how to talk to each other? What if these devices could learn how to interact with us (and each other) to make our lives better? What if Jarvis was real? How can I gain these super powers? In his session at 17th Cloud Expo, Chris Matthieu, co-founder and CTO of Octoblu, will show you!
Oct. 9, 2015 10:31 AM EDT
DevOps has often been described in terms of CAMS: Culture, Automation, Measuring, Sharing. While we’ve seen a lot of focus on the “A” and even on the “M”, there are very few examples of why the “C" is equally important in the DevOps equation. In her session at @DevOps Summit, Lori MacVittie, of F5 Networks, will explore HTTP/1 and HTTP/2 along with Microservices to illustrate why a collaborative culture between Dev, Ops, and the Network is critical to ensuring success.
Oct. 9, 2015 10:30 AM EDT Reads: 140
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively.
Oct. 9, 2015 10:15 AM EDT Reads: 136
In his session at DevOps Summit, Bryan Cantrill, CTO at Joyent, will demonstrate a third path: containers on multi-tenant bare metal that maximizes performance, security, and networking connectivity.
Oct. 9, 2015 10:00 AM EDT Reads: 157
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Oct. 9, 2015 10:00 AM EDT Reads: 287
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product companies ranging from hi-tech start-ups in Silicon Valley to leading product companies in the US a...
Oct. 9, 2015 10:00 AM EDT Reads: 770
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
Oct. 9, 2015 10:00 AM EDT Reads: 149
Overgrown applications have given way to modular applications, driven by the need to break larger problems into smaller problems. Similarly large monolithic development processes have been forced to be broken into smaller agile development cycles. Looking at trends in software development, microservices architectures meet the same demands. Additional benefits of microservices architectures are compartmentalization and a limited impact of service failure versus a complete software malfunction....
Oct. 9, 2015 10:00 AM EDT Reads: 230
The last decade was about virtual machines, but the next one is about containers. Containers enable a service to run on any host at any time. Traditional tools are starting to show cracks because they were not designed for this level of application portability. Now is the time to look at new ways to deploy and manage applications at scale. In his session at @DevOpsSummit, Brian “Redbeard” Harrington, a principal architect at CoreOS, will examine how CoreOS helps teams run in production. Attende...
Oct. 9, 2015 10:00 AM EDT Reads: 1,257
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult - let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and li...
Oct. 9, 2015 10:00 AM EDT Reads: 225
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Oct. 9, 2015 10:00 AM EDT Reads: 220
In their session at DevOps Summit, Asaf Yigal, co-founder and the VP of Product at Logz.io, and Tomer Levy, co-founder and CEO of Logz.io, will explore the entire process that they have undergone – through research, benchmarking, implementation, optimization, and customer success – in developing a processing engine that can handle petabytes of data. They will also discuss the requirements of such an engine in terms of scalability, resilience, security, and availability along with how the archi...
Oct. 9, 2015 10:00 AM EDT Reads: 403
Today’s connected world is moving from devices towards things, what this means is that by using increasingly low cost sensors embedded in devices we can create many new use cases. These span across use cases in cities, vehicles, home, offices, factories, retail environments, worksites, health, logistics, and health. These use cases rely on ubiquitous connectivity and generate massive amounts of data at scale. These technologies enable new business opportunities, ways to optimize and automate, al...
Oct. 9, 2015 10:00 AM EDT Reads: 170
Redis is not only the fastest database, but it has become the most popular among the new wave of applications running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 17th Cloud Expo, Dave Nielsen, Developer Relations at Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity
Oct. 9, 2015 10:00 AM EDT Reads: 486
Docker is hot. However, as Docker container use spreads into more mature production pipelines, there can be issues about control of Docker images to ensure they are production-ready. Is a promotion-based model appropriate to control and track the flow of Docker images from development to production? In his session at DevOps Summit, Fred Simon, Co-founder and Chief Architect of JFrog, will demonstrate how to implement a promotion model for Docker images using a binary repository, and then show h...
Oct. 9, 2015 09:45 AM EDT Reads: 108