Welcome!

News Feed Item

CORRECTION FROM SOURCE: United Hydrocarbon International Corp. Retains Goodman Merchant Capital & Provides Information on its Lake Chad Oil Block in Chad

CALGARY, ALBERTA -- (Marketwired) -- 08/18/14 -- This press release replaces the one disseminated at 3:48 PM ET on August 18, 2014. There was an error in the second paragraph. The corrected released is as follows:

United Hydrocarbon International Corp. ("United") is pleased to report that a recent press release published by the government of Niger dated November 13, 2013, indicated that the China National Petroleum Company ("CNPC") has discovered significant oil reserves in their property covering the Agadem Basin in the country of Niger, which is adjacent to United's Lake Chad properties.

In addition, Robertson (UK) Limited, a well-known independent oil and gas consultant in the United Kingdom, has stated in a public report that the CNPC Agadem recoverable reserves in Niger on a proved, probable and possible basis was 1.18 billion barrels of oil at the end of 2013 as well as "yet to find" oil potentially amounts an additional 834 million barrels of oil. The proven and probable component of the recoverable reserves estimates that number was estimated to be approximately 832 million barrels and the drilling was mostly based on 3D seismic.

The Agadem Basin is part of the prolific African Oil Rift System and extends from Niger into Chad. While CNPC owns part of the Niger portion of the basin, the Chad portion is mostly owned and permitted by United. There are more than 200 positive seismic prospects and leads identified by 2D seismic that United believes deserve drilling with the potential of outlining large pockets of oil in Chad, similar to what CNPC has outlined in Niger. United is working on the same Agadem geologic formation as CNPC, but on the Chad side of the Chad/Niger border.

United's Lake Chad block is greater than 1.8 million acres and has had 6 previous wells drilled by others providing 3 discoveries which contain in excess of 100 million barrels of recoverable oil as per an RPS Energy report undertaken for the Company in April 2012.

Accordingly, because of this positive event reported by its neighbour, United is in the process of arranging to extend its drilling program from its current locations in southern Chad where Management estimates drilling has identified approximately 50 million barrels of prospective resources, to its "Lake Chad" property in the north of Chad which hugs the Niger border next to the Agadem reserve reports recently released by CNPC.

United has retained Goodman Merchant Capital as a financial advisor.

ABOUT UNITED HYDROCARBON INTERNATIONAL CORP.

United Hydrocarbon International Corp. is a private Canadian based company. United has a 100% working interest and is the operator of a Production Sharing Contract ("PSC") in Chad through its wholly-owned subsidiary United Hydrocarbon Chad Ltd. in two, world-class, oil bearing rift basins. The PSC includes four existing oil discoveries in four separate blocks of land that cover 5.3 million acres. The Company's directors and management team have successful track records identifying, acquiring, financing and operating onshore oil and gas assets internationally.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of United, including statements pertaining to the Company's drilling plans, proven and probable reserves on lands adjacent to the Company's properties and recoverable oil. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Readers are cautioned to not place undue reliance on forward-looking statements. While United believes the expectations reflected in the forward-looking statements are reasonable, actual results and developments may differ materially from those contemplated by these statements depending on, among other things, technical and geological risk, security and political risks, the amount and timing of capital expenditures, the ability to finance those expenditures and other factors beyond United's control. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, United does not assume any obligation to update or revise them to reflect new events or circumstances.

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
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
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, discussed using predictive analytics to mon...
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
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...
In his session at @DevOpsSummit at 19th Cloud Expo, Yoseph Reuveni, Director of Software Engineering at Jet.com, will discuss Jet.com's journey into containerizing Microsoft-based technologies like C# and F# into Docker. He will talk about lessons learned and challenges faced, the Mono framework tryout and how they deployed everything into Azure cloud. Yoseph Reuveni is a technology leader with unique experience developing and running high throughput (over 1M tps) distributed systems with extre...
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
As companies gain momentum, the need to maintain high quality products can outstrip their development team’s bandwidth for QA. Building out a large QA team (whether in-house or outsourced) can slow down development and significantly increases costs. This eBook takes QA profiles from 5 companies who successfully scaled up production without building a large QA team and includes: What to consider when choosing CI/CD tools How culture and communication can make or break implementation
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
"We view the cloud not really as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...