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
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
SYS-CON Events announced today that Tappest will exhibit MooseFS 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. MooseFS is a breakthrough concept in the storage industry. It allows you to secure stored data with either duplication or erasure coding using any server. The newest – 4.0 version of the software enables users to maintain the redundancy level with even 50% less hard drive space required. The software func...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
SYS-CON Events announced today that EARP 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. "We are a software house, so we perfectly understand challenges that other software houses face in their projects. We can augment a team, that will work with the same standards and processes as our partners' internal teams. Our teams will deliver the same quality within the required time and budget just as our partn...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that Systena America 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. Systena Group has been in business for various software development and verification in Japan, US, ASEAN, and China by utilizing the knowledge we gained from all types of device development for various industries including smartphones (Android/iOS), wireless communication, security technology and IoT serv...
SYS-CON Events announced today that Outscale 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. Outscale's technology makes an automated and adaptable Cloud available to businesses, supporting them in the most complex IT projects while controlling their operational aspects. You boost your IT infrastructure's reactivity, with request responses that only take a few seconds.
Regardless of what business you’re in, it’s increasingly a software-driven business. Consumers’ rising expectations for connected digital and physical experiences are driving what some are calling the "Customer Experience Challenge.” In his session at @DevOpsSummit at 20th Cloud Expo, Marco Morales, Director of Global Solutions at CollabNet, will discuss how organizations are increasingly adopting a discipline of Value Stream Mapping to ensure that the software they are producing is poised to o...
DevOps at Cloud Expo – being held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real r...
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...
Interested in leveling up on your Cloud Foundry skills? Join IBM for Cloud Foundry Days on June 7 at Cloud Expo New York at the Javits Center in New York City. Cloud Foundry Days is a free half day educational conference and networking event. Come find out why Cloud Foundry is the industry's fastest-growing and most adopted cloud application platform.
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...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...