|By Marketwired .||
|April 28, 2014 07:19 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/28/14 -- Esrey Energy Ltd. ("Esrey" or the "Company") (TSX VENTURE:EEL) is pleased to announce that it has received TSX Venture Exchange approval and has closed the transaction to settle US$2,636,363 (CDN$2,900,000) of the non-revolving credit facilities owed by the Corporation's wholly owned subsidiary Kaynes Capital S.a.r.l. ("Kaynes") to arm's length creditors through the issuance of an aggregate 10,943,396 common shares of Esrey at a deemed price of CDN$0.265 per common share, as announced in the Corporation's March 24, 2014 news release.
Esrey is a Canadian exploration and development company focused on developing oil and gas properties in Papua New Guinea, Poland, Bulgaria and the USA. In Papua New Guinea, Esrey holds a 16.85% net interest in PPL 319, an 84.25% interest in 3 PPLs in northern Papua New Guinea (which collectively cover approximately 5.5 million gross acres) and a 20% net interest in PRL 13 (which covers approximately 42,000 gross acres). Esrey has entered into a farm-in agreement with subsidiaries of Heritage Oil PLC under which those subsidiaries acquired an 80% interest in PPL 319 and PRL 13, subject to fulfillment of work commitments under the farm-in agreement. Esrey has a 42.96% net interest in approximately 734,000 gross acres of prospective shales in Poland together with BNK Petroleum Inc. Esrey is operator and has a 50% net interest in approximately 360,000 gross acres of prospective shales in Poland together with San Leon Energy. Esrey has entered into a farm-in agreement relating to 405,080 acres of prospective argillite formation in Bulgaria with Direct Petroleum Bulgaria EOOD, a subsidiary of TransAtlantic Petroleum Ltd. Esrey also holds a 100% working interest (80% net revenue interest) in approximately 2,250 net mineral acres of oil and gas leases in Daniels and Sheridan Counties located in north east Montana as well as a 100% working interest (79% net revenue interest) in approximately 46,700 net acres of oil and gas leases in Cascade County, in western Montana. Esrey shares trade on the TSX Venture Exchange under the symbol "EEL".
ESREY ENERGY LTD.
Per: David Nelson, President & CEO
Neither 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.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws, including information regarding the proposed debt settlement. Forward-looking information is based on plans and estimates of management at the date the information is provided and certain factors and assumptions of management. Forward looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risks related to unsatisfactory results of due diligence, international operations and doing business in foreign jurisdictions, risks associated with the oil and gas industry and exploratory and development activities generally (e.g., operational risks in development, exploration and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, risks associated with equipment procurement and equipment failure), the risk of commodity price and foreign exchange rate fluctuations, risks related to future royalty rate changes, and risks and uncertainties associated with securing and maintaining necessary regulatory approvals, and counterparty risk related to the stability and viability of the Company's joint venture participants.
Shares Outstanding: 39,762,771
Esrey Energy Ltd.
604 434 1487 (FAX)
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., showed what is needed to leverage the IoT to transform your business. ...
Jan. 28, 2015 07:30 PM EST Reads: 3,218
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what th...
Jan. 28, 2015 06:15 PM EST Reads: 4,011
Dale Kim is the Director of Industry Solutions at MapR. His background includes a variety of technical and management roles at information technology companies. While his experience includes work with relational databases, much of his career pertains to non-relational data in the areas of search, content management, and NoSQL, and includes senior roles in technical marketing, sales engineering, and support engineering. Dale holds an MBA from Santa Clara University, and a BA in Computer Science f...
Jan. 28, 2015 06:00 PM EST Reads: 3,189
The Internet of Things (IoT) is rapidly in the process of breaking from its heretofore relatively obscure enterprise applications (such as plant floor control and supply chain management) and going mainstream into the consumer space. More and more creative folks are interconnecting everyday products such as household items, mobile devices, appliances and cars, and unleashing new and imaginative scenarios. We are seeing a lot of excitement around applications in home automation, personal fitness,...
Jan. 28, 2015 06:00 PM EST Reads: 2,935
“The year of the cloud – we have no idea when it's really happening but we think it's happening now. For those technology providers like Zentera that are helping enterprises move to the cloud - it's been fun to watch," noted Mike Loftus, VP Product Management and Marketing at Zentera Systems, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 28, 2015 05:00 PM EST Reads: 2,108
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, ...
Jan. 28, 2015 04:00 PM EST Reads: 2,704
OneCloud Software has launched the OneCloud Partner Program. Responding to demand from prospective partners, the Program offers managed service providers (MSPs) and resellers the resources they need to grow their business with the OneCloud Recovery solution. OneCloud Recovery is an automated solution for disaster recovery/business continuity (DR/BC), which leverages Amazon Web Services as the disaster recovery site. “This is a tremendous opportunity with an innovative hybrid cloud-based DR pro...
Jan. 28, 2015 03:30 PM EST Reads: 853
"ElasticBox is an enterprise company that makes it very easy for developers and IT ops to collaborate to develop, build and deploy applications on any cloud - private, public or hybrid," stated Monish Sharma, VP of Customer Success at ElasticBox, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 28, 2015 03:00 PM EST Reads: 2,554
Cloud Technology Partners on Wednesday announced it has been recognized by the Modern Infrastructure Impact Awards as one of the Best Amazon Web Services (AWS) Consulting Partners. Selected by the editors of TechTarget's SearchDataCenter.com, and by votes from customers and strategic channel partners, the companies acknowledged by the Modern Infrastructure Impact Awards represent the top providers of cloud consulting services for AWS including application migration, application development, inf...
Jan. 28, 2015 03:00 PM EST Reads: 1,427
MapR Technologies on Tuesday announced the availability of free Hadoop On-Demand Training for developers, analysts and administrators which represents a $50M in-kind contribution* to the broad Hadoop community. The Hadoop training program is a multi-course curriculum designed to expand worldwide adoption of Hadoop technology. The curriculum provides engaging and interactive video lessons, hands-on exercises, labs and quizzes, enabling professionals to acquire valuable Hadoop skills and knowledge...
Jan. 28, 2015 03:00 PM EST Reads: 702
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 28, 2015 02:45 PM EST Reads: 2,410
"Blue Box has been around for 10-11 years, and last year we launched Blue Box Cloud. We like the term 'Private Cloud as a Service' because we think that embodies what we are launching as a product - it's a managed hosted private cloud," explained Giles Frith, Vice President of Customer Operations at Blue Box, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 28, 2015 02:30 PM EST Reads: 2,585
In this demo at 15th Cloud Expo, John Meza, Product Engineer at Esri, showed how Esri products hook into Hadoop cluster to allow you to do spatial analysis on the spatial data within your cluster, and he demonstrated rendering from a data center with ArcGIS Pro, a new product that has a brand new rendering engine.
Jan. 28, 2015 02:30 PM EST Reads: 1,633
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Jan. 28, 2015 02:30 PM EST Reads: 2,955
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 28, 2015 02:30 PM EST Reads: 2,532