|By Marketwired .||
|July 3, 2014 09:01 AM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 07/03/14 -- Newton Energy Corporation (the "Company" or "Newton") (TSX VENTURE:NTN) announces that it has entered into a term sheet with Hutton Energy Plc ("Hutton") to sell 100% of its wholly-owned subsidiary, Newton Energy UK Limited ("Newton UK"). Newton has agreed to sell Newton UK for: (i) GBP 500,000 payable upon the execution of a definitive agreement; (ii) GBP 250,000 payable on June 30, 2015; (iii) Hutton granting the Company a 5% gross overriding royalty on any hydrocarbons sold under the licences to a maximum of GBP 2,000,000; (iv) Hutton funding 100% of the costs to drill and complete or abandon one well on the Newton UK licences; (v) Hutton funding 100% of the costs of maintaining the licenses through June 30, 2015; (vi) Newton receiving 75% of the proceeds from a farmin by a third party on the Newton UK licences prior to June 30, 2015 originated by Newton; and (vii) Newton receiving 25% of the proceeds from a farmin by a third party on the Newton UK licenses prior to June 15, 2015 originated by Hutton. The funds received by Newton pursuant to this clause will be deducted from the GBP 250,000 payment on June 30, 2015.
Entering into the definitive agreement is subject to several conditions, including the satisfactory completion of due diligence, all applicable corporate and regulatory approvals and approval of Newton's shareholders. The sale of Newton UK constitutes the sale of all of the oil and gas properties of the Company owned in the UK and most of the Company's assets.
Merv Chia, Chairman and Interim CEO, stated that "Newton is looking forward to seeing a well prospect drilled with upside to realize on its investment in onshore UK. The completion of this transaction will provide Newton with an opportunity to capture value for its UK licences and to explore new directions."
Hutton is a privately held UK based company backed by Australian and US investors with interests in the Marcellus Shale and licenses in Poland.
Newton holds UK East Midlands assets and is an emerging exploration and production company.
Neither the 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.
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the entering into of the definitive agreement and the closing of the sale of Newton UK to Hutton. Statements included herein, other than statements of historical fact, including, 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. A description of assumptions used to develop such forward-looking information and description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Newton's disclosure documents on the SEDAR website at www.sedar.com Newton does not undertake to update any forward-looking information except in accordance with applicable securities laws.
Newton Energy Corporation
Chairman and Interim CEO
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 ...
May. 6, 2015 10:00 AM EDT Reads: 5,621
Avnet, Inc. has announced that it ranked No. 4 on the InformationWeek Elite 100 – a list of the top business technology innovators in the U.S. Avnet was recognized for the development of an innovative cloud-based training system that serves as the foundation for Avnet Academy – the company’s education and training organization focused on technical training around top IT vendor technologies. The development of this system allowed Avnet to quickly expand its IT-related training capabilities around...
May. 6, 2015 10:00 AM EDT Reads: 987
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
May. 6, 2015 10:00 AM EDT Reads: 765
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
May. 6, 2015 09:45 AM EDT Reads: 3,473
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
May. 6, 2015 09:45 AM EDT Reads: 6,007
A new definition of Big Data & the practical applications of the defined components & associated technical architecture models This presentation introduces a new definition of Big Data, along with the practical applications of the defined components and associated technical architecture models. In his session at Big Data Expo, Tony Shan will start with looking into the concept of Big Data and tracing back the first definition by Doug Laney, and then he will dive deep into the description of 3V...
May. 6, 2015 09:45 AM EDT Reads: 1,156
Why does developer experience matters, what makes for a great developer experience and what is the relationship between developer experience and the broader field of user experience? Software developers are gaining more influence over the purchase decisions of technologies with which they must build on and with which they must integrate. For example, the success of Amazon Web Services, Heroku and MongoDB has been driven primarily by individual software developers choosing to use these tools, ra...
May. 6, 2015 09:40 AM EDT Reads: 241
The cloud has transformed how we think about software quality. Instead of preventing failures, we must focus on automatic recovery from failure. In other words, resilience trumps traditional quality measures. Continuous delivery models further squeeze traditional notions of quality. Remember the venerable project management Iron Triangle? Among time, scope, and cost, you can only fix two or quality will suffer. Only in today's DevOps world, continuous testing, integration, and deployment upend...
May. 6, 2015 09:30 AM EDT Reads: 3,529
Cloud and Big Data present unique dilemmas: embracing the benefits of these new technologies while maintaining the security of your organization's assets. When an outside party owns, controls and manages your infrastructure and computational resources, how can you be assured that sensitive data remains private and secure? How do you best protect data in mixed use cloud and big data infrastructure sets? Can you still satisfy the full range of reporting, compliance and regulatory requirements? In...
May. 6, 2015 09:15 AM EDT Reads: 3,807
There are lots of challenges in IoT around secure, scalable and business friendly infrastructure for enterprises. For large corporations, IoT implementations are one of the top priorities of the decade. All industries are seeing a competitive need to sustain by investing in IoT initiatives. The value addition comes from improved customer service, innovative product and additional revenue streams. The data from these IP-connected devices can be leveraged for a variety of business applica...
May. 6, 2015 09:00 AM EDT Reads: 1,178
Chuck Piluso will present a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Speaker Bio: Prior to Data Storage Corporation (DSC), Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of ...
May. 6, 2015 09:00 AM EDT Reads: 910
Between the compelling mockups and specs produced by your analysts and designers, and the resulting application built by your developers, there is a gulf where projects fail, costs spiral out of control, and applications fall short of requirements. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a new approach where business and development users collaborate – each using tools appropriate to their goals and expertise – to build mo...
May. 6, 2015 09:00 AM EDT Reads: 4,114
While Docker continues to be the darling of startups, enterprises and IT innovators around the world, networking continues to be a real mess. Indeed, managing the interaction between Docker containers and networks has always been fraught with complications. Without automation in networking, the vision of running Docker at scale and letting IT run the same apps unchanged on the laptop and in the data center or for any cloud cannot be realized.
May. 6, 2015 08:45 AM EDT Reads: 982
To manage complex web services with lots of calls to the cloud, many businesses have invested in Application Performance Management (APM) and Network Performance Management (NPM) tools. Together APM and NPM tools are essential aids in improving a business's infrastructure required to support an effective web experience... but they are missing a critical component - Internet visibility. Internet connectivity has always played a role in customer access to web presence, but in the past few years u...
May. 6, 2015 08:45 AM EDT Reads: 1,475
Working with Big Data is challenging, especially when decision makers depend on market insights and intelligence from your data but don't have quick access to it or find it unusable. In their session at 6th Big Data Expo, Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia; Zel Bianco, President, CEO and Co-Founder of Interactive Edge of Solgenia; and Ermanno Bonifazi, CEO & Founder at Solgenia, discussed how a revolutionary cloud-based BI along with mobile analytics is already c...
May. 6, 2015 08:30 AM EDT Reads: 4,690