|By Marketwired .||
|August 4, 2014 01:40 PM EDT||
PHOENIX, AZ--(Marketwired - August 04, 2014) - Core Resource Management, Inc. (OTCQB: CRMI) ("Core") (www.coreresource.net) -- Core Resource Management is a Phoenix-based oil & gas company engaged in the acquisition of oil & gas assets in conjunction with established oil & gas operators, primarily in Texas and the Southwest.
Core proudly announces that it has entered into a joint venture agreement with TransCoastal Corporation (OTCQB: TCEC), an independent energy development company, to drill up to 10 wells on acreage owned by TransCoastal in the Texas Panhandle near Pampa, Texas.
The agreement stipulates that CRMI will fund 100% of the drilling and completion costs of up to $475,000 per well. Any additional drilling and completion expenses for each well will be split 60% to TransCoastal and 40% to CRMI. Upon completion of each well, CRMI will receive 60% of the net revenues allocable to the well and Transcoastal will receive 40% until CRMI receives a return of its investment in the well, and thereafter each party will receive 50% of the net revenue in each well. CoreTerra Operating, a subsidiary of TransCoastal, has entered into a contract with the joint vernture to be the official operator of each well drilled by the venture.
Chief Executive officer James Clark commented, "This joint venture marks another step in the continuing progress of acquiring revenue-producing assets to build our company's revenue model and bring value to our shareholders. The single well economics on the Pampa acreage is by far the best we have seen. We are extremely excited about spudding our first well there shortly. This joint venture compliments the company's structured business strategy of acquiring non-operating positions of up to 50% in oil & gas assets from well-established operators."
Casimir Capital L.P. ("Casimir Capital") acted as the exclusive advisor on the transaction.
Forward Looking Statements: Statements which are not historical facts contained in this release are forward looking statements, such as "costs paid back" that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "progress," "value," and "well-established" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. Risk factors exist and may change the potential outcome. Such factors include, but are not limited to, the timing and extent of changes in market conditions and prices for natural gas and oil; thereby future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which are valid only as of the date they were made.
The information herein is subject to change without notice. Core Resource Management, Inc. shall not be liable for technical or editorial errors or omissions contained herein.
Core Resource Management, Inc.
602 314 3230
3131 E. Camelback Rd. STE 211
Phoenix, AZ 85016
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
Feb. 25, 2017 02:00 PM EST Reads: 1,900
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry’s single source for the cloud. Fusion’s advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...
Feb. 25, 2017 02:00 PM EST Reads: 3,952
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
Feb. 25, 2017 01:45 PM EST Reads: 1,881
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Feb. 25, 2017 01:15 PM EST Reads: 2,159
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
Feb. 25, 2017 12:45 PM EST Reads: 2,817
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Feb. 25, 2017 12:45 PM EST Reads: 2,851
Column Technologies exhibited at SYS-CON's @DevOpsSummit at Cloud Expo, which took place at the Javits Center in New York City, NY, in June 2016. Established in 1998, Column Technologies is a global technology solutions provider with over 400 employees, headquartered in the United States with offices in Canada, India, and the United Kingdom. Column Technologies provides “Best of Breed” technology solutions that automate the key DevOps principals and help our customers meet today’s DevOps and Dig...
Feb. 25, 2017 12:45 PM EST Reads: 1,143
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Feb. 25, 2017 12:45 PM EST Reads: 2,028
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th 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 no time to wait for long developm...
Feb. 25, 2017 12:15 PM EST Reads: 1,855
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ca...
Feb. 25, 2017 12:15 PM EST Reads: 13,256
Feb. 25, 2017 11:45 AM EST Reads: 5,844
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Feb. 25, 2017 11:45 AM EST Reads: 1,589
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software securi...
Feb. 25, 2017 11:00 AM EST Reads: 3,881
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business. Though, IoT is far more complex than most firms expected with a majority of IoT projects having failed. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, Chief IoTologist at Wipro, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology portfolios and business models to adopt and leverage IoT. He will delve in...
Feb. 25, 2017 10:45 AM EST Reads: 2,545
In the enterprise today, connected IoT devices are everywhere – both inside and outside corporate environments. The need to identify, manage, control and secure a quickly growing web of connections and outside devices is making the already challenging task of security even more important, and onerous. In his session at @ThingsExpo, Rich Boyer, CISO and Chief Architect for Security at NTT i3, will discuss new ways of thinking and the approaches needed to address the emerging challenges of securit...
Feb. 25, 2017 10:30 AM EST Reads: 1,732