SYS-CON MEDIA Authors: Greg Ness, Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel

News Feed Item

QED Connect Inc. Provides Update to AFON 2010 Ltd. Acquisition

16,357 Metric Thousand Tons of Ukraine Oil Reserves

MANCHESTER, NH -- (Marketwired) -- 01/15/14 -- Management of QED Connect, Inc. (OTC Pink: QEDN) today provided updates regarding the recent acquisition of AFON 2010, Ltd. by Energy Today, Inc. (OTC Pink: NRGT), a portfolio company of QED.

On January 2nd, Energy Today, Inc. filed a Form 8-K with the Securities and Exchange Commission disclosing its purchase of 100% of the equity interest in AFON 2010 Ltd. for 2,666,000 shares of Energy Today, Inc. AFON 2010 Ltd. was formed in the Ukraine as an oil and gas company to hold oil and gas leases in western Ukraine. These concessions are located within the South Terenyans'ka area in the Nadvirnyans'ky district of Ivano-Frankivs'k region 5 km northeast from the village of Kosmach.

The Western Ukrainian Geophysical Prospecting Expedition (WUGRE), an independent oil and gas consulting firm, performed the Geological Survey on AFON 2010's leases. A team of seven Geologists concluded that the concession is viable and should be prepared for deep well drilling. The WUGRE was set up in 1948 as the basis of State Geophysical Company "Ukrheofizyka" for assisting in expanding oil and gas survey works in the western region of Ukraine and Moldavia. They have completed over 150,000 running kilometers of seismic profiles.

The survey by WUGRE on AFON 2010's leases determined that the concessions have proven and probable reserves of 16,357 thousand metric tons. The characteristics of subsoil report validates that the reserves can be classified as Category 3 (proven and probable).

According to the Society of Petroleum Engineers (SPE), 1 ton of oil equals 7.33 barrels of oil. This means that AFON 2010's total of 16,357 thousand tons of reserves equals 119,896,810 barrels of proven and probable reserves. The SPE and the World Petroleum Council (WPC, formerly World Petroleum Congresses), define proven reserves as having an over 90% chance of being recoverable with probable reserves having a minimum of 50% chance of being present.

AFON 2010 Ltd.'s Special Permit for the use of subsoil for its property leases was approved by the State Department of Ecology and Natural Resources in Ivano-Frankivs'k region of 14.12.2005/ecological card number 293/; Ivano-Frankivs'k Regional Council -- 15.03.2001 number 14-194/112/313; Ministry of Energy -- 04.02.2010 number 08/31-189/1 for a period of 5 years.

Additional information and supporting documentation of the acquisition can be found at the Company's website under the Natural Resources section:

www.qedconnect.com/about-us/natural-resources/

Tom Makmann, President and CEO commented, "We believe that the acquisition of AFON has the possibility to provide QED and its portfolio company, Energy Today, substantial value. The spot price of crude oil is over $90 a barrel and upon completing the funding and development of the concession, the resulting income should offer the shareholders increased value."

QED recently updated its financials and obtained OTC Current Information Status.

In response to several shareholder inquires, the Company does not have any current plans for a reverse.

About QED Connect, Inc.
QED Connect, Inc. is a holding company which makes acquisitions, investments, and enters into strategic business partnerships. The Company works with organizations that are looking for capital, management assistance, or help in reaching their target markets to realize their true potential. QED primarily focuses on businesses that are producing revenue and that can expand into additional markets or sectors. QED looks beyond current conditions such as underperformance of an existing asset due to inadequate capital, limited development expertise or a lack of strategic vision, and is able to recognize short and long-term asset potential and opportunities to add value. This business model achieves the Company's goals while expanding its overall revenue and profits and diversifies through entry into the multiple market segments. By helping its partners and subsidiaries realize success the resulting growth, enhances QED's ability to increase shareholder value. www.qedconnect.com

Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of QED to be materially different from those expressed or implied by such forward-looking statements. QED's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management infrastructure necessary to support the growth of its business; (iii) close the above acquisitions; (iv) competitive factors and developments beyond the Company's control; and (v) other risk factors.

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
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
ScriptRock makes GuardRail, a DevOps-ready platform for configuration monitoring. Realizing we were spending way too much time digging up, cataloguing, and tracking machine configurations, we began writing our own scripts and tools to handle what is normally an enormous chore. Then we took the concept a step further, giving it a beautiful interface and making it simple enough for our bosses to understand. We named it GuardRail after its function - to allow businesses to move fast and stay sa...
SYS-CON Media announced today that Sematext launched a popular blog feed on DevOps Journal with over 6,000 story reads over the weekend. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Sematext is a globally distributed organization that builds innovative Cloud and On Premises solutions for performance monitoring, alerting an...
In high-production environments where release cycles are measured in hours or minutes — not days or weeks — there's little room for mistakes and no room for confusion. Everyone has to understand what's happening, in real time, and have the means to do whatever is necessary to keep applications up and running optimally. DevOps is a high-stakes world, but done well, it delivers the agility and performance to significantly impact business competitiveness.
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are conf...