Tagged: UTI

Steady Development with Solid Performance in 1H 2014

HONG KONG, Aug. 28, 2014 /PRNewswire/ — CNOOC Limited (the “Company”, NYSE: CEO, SEHK: 00883, TSX: CNU) today announced its interim results for the six months ended June 30, 2014.

For the first half of the year, the Company’s total net oil and gas production reached 211.6 million barrels of oil equivalent (BOE), up 6.8% year-on-year (yoy), with 36.3 million BOE contributed by Nexen.

The Company’s average realized oil price was US$106.30 per barrel in the first half of 2014, representing an increase of 2.0% yoy, while average realized gas price rose 13.5% yoy to US$6.44 per thousand cubic feet.

Benefited from the growth of net oil and gas production and increase in realized oil and gas prices, the Company recorded RMB117.1 billion in oil and gas sales revenue, a yoy increase of 5.7%; meanwhile, net profit fell 2.3% yoy to RMB33.59 billion.

In the first half of 2014, the Company’s all-in cost was US$43.20 per BOE, up slightly by 2.0 % yoy, while operating cost was US$11.78 per BOE, up 7.0 % yoy, mainly attributable to the consolidation of two more months of Nexen’s performance.

In the area of exploration, the Company made 9 new discoveries and 23 successful appraisal wells. Among them, Lingshui 17-2, discovered by “Haiyangshiyou 981”, was successfully tested and is expected to become the first large-sized deepwater gas field made by our independent exploration activities. While Luda 16-3 South structure is expected to become a mid-sized discovery after appraisal, Kenli 16-1 structure uncovers the good exploration potential of southern slope of Laizhou Bay Sag in Bohai. Kenli 3-2 oilfields, Panyu10-2/5/8 project and Wenchang 13-6 oilfield have commenced production within the year as scheduled while other projects are progressing accordingly.

During the period, the Company continued to advance the integration of Nexen, especially in the areas of management, resources development and corporate culture. Nexen’s safety and environmental protection achieved best performance in its history in the first half of 2014. Production efficiency of Buzzard oilfield in the UK North Sea was further enhanced, while production and operation of Long Lake oil sands project achieved significant improvement. The progress of integration reached the Company’s expectation.

Mr. Wang Yilin, Chairman of the Company, said, “In the first half of 2014, the Company has executed its ‘New Leap Forward’ strategy in a solid way and achieved satisfactory results. We will endeavor to strengthen our management, enhance the growth quality and efficiency of the Company to create greater value for our shareholders.”

Mr. Li Fanrong, CEO of the Company commented, “During the first half of 2014, we have actively pushed ahead different areas of our business. Good progress was made in the production and operation and a healthy financial position was maintained. In the second half of the year, we will continue to work diligently to ensure that we meet our annual production and business targets.”

In the first half of the year, the Company’s basic earnings per share reached RMB0.75. The Board has declared an interim dividend of HK$0.25 per share (tax inclusive).

Notes to Editors:

More information about the Company is available at http://www.cnoocltd.com.

This press release includes “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. The words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes are appropriate under the circumstances. However, whether actual results and developments will meet the expectations and predictions of the Company depends on a number of risks and uncertainties which could cause the actual results, performance and financial condition to differ materially from the Company’s expectations, including those associated with fluctuations in crude oil and natural gas prices, the exploration or development activities, the capital expenditure requirements, the business strategy, whether the transactions entered into by the Group can complete on schedule pursuant to its terms and timetable or at all, the highly competitive nature of the oil and natural gas industries, the foreign operations, environmental liabilities and compliance requirements, and economic and political conditions in the People’s Republic of China. For a description of these and other risks and uncertainties, please see the documents the Company files from time to time with the United States Securities and Exchange Commission, including the 2013 Annual Report on Form 20-F filed on 17 April 2014.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations.

For further enquiries, please contact:

Ms. Michelle Zhang
Deputy Manager, Media / Public Relations
CNOOC Limited
Tel: +86-10-8452-6642
Fax: +86-10-8452-1441
E-mail: MR@cnooc.com.cn

Ms. Cathy Zhang
Hill+Knowlton Strategies Asia
Tel: +852-2894-6211
Fax: +852-2576-1990
E-mail: cathy.zhang@hkstrategies.com

Logo – http://www.prnasia.com/sa/200701301659.jpg

Frost & Sullivan’s inaugural New Zealand Excellence Awards 2014 recognises 18 companies for best practices

AUCKLAND, New Zealand, Aug. 28, 2014 /PRNewswire/ — Frost & Sullivan held its inaugural New Zealand Excellence Awards on 28 August 2014 at Villa Maria, presenting a total of 18 awards to companies across the industries of Food, Energy and Power, Healthcare and Information Communication Technologies.

Recipients of the 2014 Frost & Sullivan New Zealand Excellence Awards

Recipients of the 2014 Frost & Sullivan New Zealand Excellence Awards

The New Zealand Excellence Awards will be an annual event to honour companies that have demonstrated outstanding achievement and superior performance in their respective market segments.

“We are very proud to host the annual awards in New Zealand to celebrate the achievements of New Zealand companies. Frost & Sullivan’s awards play an important role recognising those who are driving innovation and achieving best practices across various industries in the New Zealand market. This is our first year of awards in New Zealand, and we are pleased to be able to recognise exceptional accomplishments and exemplary achievements in several of the markets we operate in,” said Andre Clarke, Country Manager, Frost & Sullivan New Zealand.

He added, “The awards reflect a lot of hard work by the recipients, and Frost & Sullivan is pleased to confer these awards in acknowledgment of this. We hope these awards encourage market players to continue to strive for greater success across industries.  As we continue to identify companies deserving distinction, I am confident that this awards banquet will continue to grow and be the most anticipated event of the year by the local business community.”

Award recipients for the 2014 New Zealand Excellence Awards were identified based on extensive secondary research conducted by Frost & Sullivan’s analysts, in-depth interviews and analysis. In order to identify best practices, companies are typically studied on their revenues, market share, capabilities, product or service innovation and overall contribution to the industry.

Frost & Sullivan congratulates all the recipients of the 2014 New Zealand Excellence Awards.

2014 Frost & Sullivan New Zealand Excellence Awards Recipients

Category

Award Recipient

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Energy & Environment

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2014 Asia Pacific Customer Value

Enhancement Award in DC Power

Systems

Enatel Ltd

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2014 New Zealand Energy Management

Services Company of the Year

ABB Limited

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2014 New Zealand Electric Vehicle

Charging Company of the Year   

Juicepoint

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2014 New Zealand Smart Grid

Solutions Company of the Year  

Silver Spring Networks

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2014 New Zealand Facilities

Management Company of the Year  

ISS Facility Services

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Healthcare

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2014 New Zealand Mobile Health

Company of the Year         

Vensa Health

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2014 New Zealand Medical Imaging

New Product Innovation Leadership

Award                            

Aranz Medical Limited

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2014 New Zealand Aged Care Industry

Emerging Company of the Year     

Bupa Care Services

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2014 New Zealand Aged Care Company

of the Year                     

Ryman Healthcare Ltd

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Food

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2014 New Zealand Animal Nutritional

Feed Company of the Year      

Alltech

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2014 New Zealand Nutraceutical

Company of the Year        

Vitaco Health

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2014 New Zealand Edible Oil Company

of the Year                     

The Village Press

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Information and Communication Technology

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2014 New Zealand Network Security

Vendor of the Year               

Check Point Software Technologies

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2014 New Zealand Enterprise

Telephony System Integrator of the

Year                               

Cogent Limited

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2014 New Zealand Contact Center

Outsourcing Service Provider of

the Year                         

Datacom

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2014 New Zealand Unified

Communications System Integrator

of the Year                            

Spark Digital

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2014 New Zealand Hosted Contact

Center Service Provider of the

Year                             

Spark Digital

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2014 New Zealand Data Center

Hosting Service Provider of the

Year                              

Spark Digital

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For more details on the 2014 New Zealand Excellence Awards log-in to http://www.frost-apac.com/newzealandawards. You may also connect with Frost & Sullivan on social media, including Twitter, Facebook, SlideShare, and LinkedIn, for the latest news and updates.  We also invite you to join the conversation using @FrostSullivanAP.

The 2014 Frost & Sullivan New Zealand Excellence Awards was held in conjunction with the Growth, Innovation and Leadership (GIL) Congress 2014: New Zealand.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies? Contact us: Start the discussion

Contact:

Donna Jeremiah
Corporate Communications — Asia Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
E: djeremiah@frost.com

http://www.frost.com

Photo – http://photos.prnasia.com/prnh/20140828/8521404859

SNC-Lavalin completes landmark acquisition of Kentz

– A key milestone in SNC-Lavalin’s ongoing transformation into a global Tier-1 engineering and construction company

MONTREAL, Aug. 22, 2014 /PRNewswire/ — SNC-Lavalin Group Inc. (TSX: SNC) is pleased to announce that it has completed its acquisition of Kentz Corporation Limited, a global company with 15,500 employees operating in 36 countries. Kentz provides industry-leading engineering, construction management and technical support services to clients in the oil and gas sector.

The acquisition of Kentz supports SNC-Lavalin’s ongoing transformation into a global Tier-1 engineering and construction (E&C) company. The transaction creates a group with approximately 45,000 employees, annual revenues of about C$10 billion and a backlog of roughly C$13 billion as per 2013 figures. The combined company will also have a strong position in the world’s most dynamic growth markets, including the Middle East, North America, Latin America and Asia-Pacific.

“SNC-Lavalin is thrilled to welcome the employees of Kentz, who are the heart and soul of the remarkable company we are acquiring today,” said Robert G. Card, President and CEO, SNC-Lavalin Group Inc. “We expect that our combined capabilities will give us one of the best broad-based service offerings in the E&C industry, while expanding our presence in key growth markets.”

Transformational growth in oil and gas
The acquisition of Kentz transforms SNC-Lavalin’s oil and gas capabilities, creating a group of approximately 20,000 high-caliber employees with industry leading expertise for large and complex projects in the upstream, liquefied natural gas (LNG), unconventional (shale gas and oil sands), pipelines, offshore jackets and steam-assisted gravity drainage (SAGD) sectors.

“We have now begun implementing our plan, which aims to ensure our teams are combined efficiently, respectfully and as rapidly as possible,” said Neil Bruce, President, Resources, Environment & Water, SNC-Lavalin Group Inc. “We will be bringing together the best capabilities of our two firms for the direct benefit of our clients. Our goal will be to build strong and lasting relationships with our customers through consistently delivering on our commitments and providing the best mix of value and services.”

Kentz will be incorporated into SNC-Lavalin while simultaneously integrating SNC-Lavalin’s current Oil & Gas business into Kentz’s operations. Christian Brown, Kentz’s Chief Executive Officer, now becomes President, Oil & Gas, SNC-Lavalin Group Inc. Mr. Brown will continue to be stationed in Houston, Texas, and will report directly to Neil Bruce.

“Joining SNC-Lavalin will provide us with the ability to execute larger scopes for major projects, and enhance our access to new geographies in both North America and Latin America,” said Christian Brown. “We look forward to bringing our clients complete end-to-end solutions for their projects by merging SNC-Lavalin’s strong front-end engineering and design capabilities with our industry-leading construction management, commissioning and operations capabilities.”

SNC-Lavalin paid £9.35 (C$17.13) per share for a total purchase price of approximately £1.2 billion (C$2.1 billion). Kentz shareholders voted in favour of SNC-Lavalin’s offer at a meeting convened by order of the Court and an Extraordinary General Shareholders Meeting, both held on August 11, 2014. The offer was structured as a Scheme of Arrangement and the Scheme Court Hearing was held on August 21, 2014. Following the sanction of the Court, the acquisition became effective in accordance with its terms on August 22, 2014.

Forward-looking statements
This press release contains statements that are or may be “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. All statements other than statements of historical fact included in this press release may be forward-looking statements. Without limitation, any statements preceded or followed by or that include the words “targets”, “plans”, “believes”, “expects”, “aims”, “intends”, “will”, “should”, “could”, “would”, “may”, “anticipates”, “estimates”, “synergy”, “cost-saving”, “projects”, “goal” or “strategy” or, words or terms of similar substance or the negative thereof, are forward-looking statements. Forward-looking statements include statements relating to the following: (i) future capital expenditures, expenses, revenues, earnings, economic performance, indebtedness, financial condition, losses and future prospects; and (ii) business and management strategies and the expansion and growth of SNC-Lavalin or Kentz’s operations and potential synergies resulting from the transaction.

These forward-looking statements are not guarantees of future financial performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. All subsequent oral or written forward-looking statements attributable to SNC-Lavalin or any of its directors, officers or employees or any persons acting on their behalf are expressly qualified in their entirety by the cautionary statement above. SNC-Lavalin disclaims any obligation to update any forward-looking or other statements contained herein, except as required by applicable law.

About SNC-Lavalin
Founded in 1911, SNC-Lavalin is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure. From offices in over 50 countries, SNC-Lavalin’s approximately 45,000 employees provide EPC and EPCM services to clients in a variety of industry sectors, including oil and gas, mining and metallurgy, environment and water, infrastructure and power. SNC-Lavalin can also combine these services with its financing and operations and maintenance capabilities to provide complete end-to-end project solutions.
www.snclavalin.com

For further information:

Media:
Lilly Nguyen
Public Relations Manager,
Global Corporate Communications
SNC-Lavalin Group Inc.
+1-514-393-8000, ext. 54772
lilly.nguyen@snclavalin.com

David M. Shaffer Named EnerSys President and Chief Operating Officer

READING, Pennsylvania, Aug. 14, 2014 /PRNewswire/ — John D. Craig of EnerSys (NYSE: ENS) today announced that he will be stepping down from his position of President effective November 1, 2014, but will remain with the company as Chairman and Chief Executive Officer. With this move, Dave M. Shaffer has been appointed to the newly created position of President and Chief Operating Officer. Mr. Shaffer is currently serving as President of the Company’s Europe, Middle East and Africa business and prior to that was President of the Company’s Asia business. Mr. Shaffer will continue to report to Mr. Craig.

“Dave is an experienced executive recognized for his accomplishments at EnerSys, I want to congratulate him on his new position and look forward to continuing to work with him,” stated Mr. Craig, “as EnerSys continues to grow towards our goal of $4 billion in revenue by 2018 this new position is one more element that will help ensure we achieve this objective.”

Mr. Shaffer, who has over 24 years experience in the battery industry, joined EnerSys in 2005 and has held positions of increasing responsibilities with the Company. He holds a B.S. in Mechanical Engineering from the University of Illinois and an MBA from Marquette University.

For more information, contact Thomas O’Neill, Vice President and Treasurer, EnerSys, P.O. Box 14145, Reading, PA 19612-4145, USA. Tel: 800-538-3627; Web site: www.enersys.com.

EDITOR’S NOTE: EnerSys, the global leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Motive power batteries and chargers are utilized in electric forklift trucks and other commercial electric powered vehicles. Reserve power batteries are used in the telecommunication and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions including medical, aerospace and defense systems. Outdoor equipment enclosure products are utilized in the telecommunication, cable, utility, transportation industries and by government and defense customers. The company also provides aftermarket and customer support services to its customers from over 100 countries through its sales and manufacturing locations around the world.

More information regarding EnerSys can be found at www.enersys.com.

Caution Concerning Forward-Looking Statements

This press release, and oral statements made regarding the subjects of this release, contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, or the Reform Act, which may include, but are not limited to, statements regarding EnerSys’ earnings estimates, revenue goals, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts, including statements identified by words such as “believe,” “plan,” “seek,” “expect,” “intend,” “estimate,” “anticipate,” “will,” and similar expressions. All statements addressing operating performance, events, or developments that EnerSys expects or anticipates will occur in the future, including statements relating to sales growth, earnings or earnings per share growth, revenue growth, and market share, as well as statements expressing optimism or pessimism about future operating results or benefits from revenue growth, are forward-looking statements within the meaning of the Reform Act. The forward-looking statements are based on management’s current views and assumptions regarding future events and operating performance, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies and changes in circumstances, many of which are beyond the Company’s control. The statements in this press release are made as of the date of this press release, even if subsequently made available by EnerSys on its website or otherwise. EnerSys does not undertake any obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.

Although EnerSys does not make forward-looking statements unless it believes it has a reasonable basis for doing so, EnerSys cannot guarantee their accuracy. The foregoing factors, among others, could cause actual results to differ materially from those described in these forward-looking statements. For a list of other factors which could affect EnerSys’ results, including earnings estimates, see EnerSys’ filings with the Securities and Exchange Commission, including “Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations,” including “Forward-Looking Statements,” set forth in EnerSys’ Quarterly Report on Form 10-Q for the period ended June 29, 2014. No undue reliance should be placed on any forward-looking statements.

China outstrips Germany to become world’s biggest solar market

Hanergy Holding Group and China New Energy Chamber of Commerce issue Global Renewable Energy Report 2014

BEIJING, Aug. 11, 2014 /PRNewswire/ — Hanergy Holding Group (Hanergy) and China New Energy Chamber of Commerce (“CNECC”), today issued the Global Renewable Energy Report 2014. The report found that China became the world’s biggest market for solar power in 2013, with the country’s newly installed photovoltaic generating capacity jumping 232% on-year to 12 gigawatts (GW).

Photo – http://photos.prnewswire.com/prnh/20140808/134753

Key findings include:

  • The global solar market is shifting from Europe to Asia. China’s newly installed solar capacity grew 232% year-on-year in 2013 to 12GW, whereas Germany’s newly installed capacity fell 56.5% to 3.3GW and Italy’s dropped 55% year-on-year to 1.6GW.  
  • Financing activity reflects this shift. China accounted for the largest proportion of global solar industry financing at $23.56bn, equivalent to the entire amount raised in Europe.
  • The growth of the solar industry continues to accelerate. Globally, newly installed solar capacity reached 38.7GW, bringing the global total of installed capacity to 140.6GW in 2013, compared with 101.9GW in 2012.  
  • The shift from fossil fuel to renewable energy continues. Total global power generation grew 4.3% from the previous year, to 22513.8 terawatt-hours (TWh), while renewable energy power generation grew at 13% per annum, accounting for 5.2% of the world’s total output.
  • Global production of thin-film solar cell was about 4GW in 2013, up 20% from 2012. Many thin-film solar companies expanded capacity in 2013 and sought out diversified markets, achieving economies of scale through global mergers and acquisitions and upgrading production line technology.

“Our research shows that China has already become the world’s biggest solar market. Now the country is moving to a more green and sustainable model of development which will drive future global growth in renewable energy,” Chairman and CEO of Hanergy & President of the China New Energy Chamber of Commerce, Li Hejun said.

“Governments are turning to greater use of renewable energy to tackle pollution and deliver energy security, underpinning growth momentum in the global renewable energy industry,” he added.

The Global Renewable Energy Report drew on data from Bloomberg New Energy Finance, GlobalData and Hanergy and CNECC’s own research teams. Data from the International Energy Bureau, China Electricity Council, US Energy Information Administration, the Global Wind Energy Council, the Global Hydropower Association and the International Geothermal Association were also used.

The full report can be downloaded free of charge from Hanergy’s website:
http://www.hanergy.com/en/upload/contents/2014/07/53bfa4772d9f6.pdf

About Hanergy Holding Group Ltd.

Hanergy Holding Group Ltd. (“Hanergy”) is a global clean-energy power generation company and the world’s largest thin-film solar company and solutions provider. Hanergy engages in the integration of the entire photovoltaic industry chain, covering R&D, high-end equipment manufacturing, PV module production and the construction of photovoltaic power plants. Hanergy possesses industry-leading CIGS thin-film PV technology and has the world’s largest production capacity of thin-film modules. To date, the company has entered into solar-power plant construction agreements with a combined capacity of approximately 10GW. Its business also covers hydropower and wind power. Headquartered in Beijing and with operations across China, the Asia Pacific, North America and Europe etc., Hanergy employs over 10,000 people.

Far East Energy Announces Second Quarter Results And Increased Revenue for First Half of 2014

HOUSTON, Aug. 7, 2014 /PRNewswire/ — Far East Energy Corporation (OTCBB:FEEC), the U.S. listed company that operates the Shouyang Coalbed Methane (CBM) Production Sharing Contract (PSC) in Shanxi Province, People’s Republic of China, is pleased to announce the filing of its Form 10-Q, for the period ended June 30, 2014. 

For the first six months of 2014, revenues rose 209% compared to the same period in 2013, reaching $2.2 million for the first half of the year.  This performance reflects (1) the strong increase in gas production and gas sales resulting from the 2013 drilling and fracing program and (2) the significant increase in gas prices being received in 2014 compared to 2013.  Compared to a relatively weak 2nd quarter in 2013, revenues for the three-months ended June 30, 2014 increased 324% to $1.1 million.

Gas sales volumes for the six months ending June 30, 2014 averaged 1.35 MMcf/d, up 126% from the same period in 2013, resulting from the newly drilled and fraced wells.  As previously announced, 29 wells in the core Area A production zone were shut-in during the second quarter as being wells located outside the main production area, wells not tied-in to the gas gathering system or wells having ineffective fracs.  Production and sales have remained constant since the beginning of May, despite shutting in these 29 wells in Area A.  A number of these wells are candidates for future recompletions, and should meaningfully enhance production of water and/or gas upon successful recompletion.

Following the previously announced increase in the sales gas price, the average price received for gas sales, inclusive of subsidies and refunds, was $8.87/Mcf in the first half of 2014, up 37% over the same period in 2013.

The company continued to focus on costs during the first half of 2014, and, although direct operating costs rose with the higher production levels, they were down 23% on a per Mcf sold basis, and general and administrative costs were down in total compared to same period in 2013.  The announced well shut-ins will contribute to further cost reductions into the third quarter of 2014, without affecting current production levels.

Commenting, CFO Jennifer Whitley said, “These results show the impact of our 2013 drilling and fracing program, combined with the higher gas price that we are now receiving for our contracted gas sales.  As we continue our ongoing strategic discussions, management is also maintaining its focus on cost controls into the second half of the year.”

ODP
The draft ODP report, which covers Area A, was submitted to the National Energy Administration (“NEA”) of the National Development and Reform Commission (“NDRC”) on June 16, 2014. The NEA is in the process of reviewing the ODP report, and the Company is now awaiting the award of its “Road Pass”.  Area A will exit the exploration period and commence the development period when the ODP receives final regulatory approvals. Final regulatory approval is expected during 2015. Receipt of the “Road Pass” will allow the Company to proceed with the development of Area A while awaiting final regulatory approvals; however, continuing further development and exploration activities does require conclusion of the strategic process currently underway, and on which management is diligently working, in order to provide funding for those activities.

Far East Energy Corporation
Based in Houston, Texas, with offices in Beijing, China, Far East Energy Corporation is focused on coalbed methane exploration and development in China.

Statements contained in this press release that state the intentions, hopes, estimates, beliefs, anticipations, expectations or predictions of the future of Far East Energy Corporation and its management are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. It is important to note that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, including that the amendment to the PSC may not be entered into or if entered into may not be on the same terms as originally agreed upon by the parties. Actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: the preliminary nature of well data, including permeability and gas content; there can be no assurance as to the volume of gas that is ultimately produced or sold from our wells; the fracture stimulation and drilling programs may not be successful in increasing gas volumes; due to limitations under Chinese law, we may have only limited rights to enforce the gas sales agreement between Shanxi Province Guoxin Energy Development Group Limited and China United Coalbed Methane Corporation, to which we are an express beneficiary; additional wells may not be drilled, or if drilled may not be timely; additional pipelines and gathering systems needed to transport our gas may not be constructed, or if constructed may not be timely, or their routes may differ from those anticipated; the pipeline and local distribution/compressed natural gas companies may decline to purchase or take our gas, or we may not be able to enforce our rights under definitive agreements with pipelines; conflicts with coal mining operations or coordination of our exploration and production activities with mining activities could adversely impact or add significant costs to our operations; our lack of operating history; limited and potentially inadequate management of our cash resources; risk and uncertainties associated with exploration, development and production of coalbed methane; our inability to extract or sell all or a substantial portion of our reserves and other resources; we may not satisfy requirements for listing our securities on a securities exchange; expropriation and other risks associated with foreign operations; disruptions in capital markets affecting fundraising; matters affecting the energy industry generally; lack of availability of oil and gas field goods and services; environmental risks; drilling and production risks; changes in laws or regulations affecting our operations, as well as other risks described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and subsequent filings with the Securities and Exchange Commission.

Vote for the Best Mascot Design of Astana EXPO 2017!

ASTANA, Kazakhstan, Aug. 6, 2014 /PRNewswire/ —

Online voting started for the EXPO-2017 Astana exhibition mascot on 4 August 2014 in Kazakhstan. Cast your vote and see the voting results on the official website http://www.expo2017mascot.kz  from 4 to 18 August.

To view the Multimedia News Release, please click:
http://www.multivu.com/mnr/71400571-Astana-EXPO-2017 

The qualifying round of the international competition for the best design of the EXPO-2017 exhibition mascot was held from 20 May to 20 June 2014 in Astana, with more than 80 competing works from around the world.

The basic requirements for the entries were: correspondence between the mascot and the exhibition theme, “Energy of the Future,” transmission of the national colours of the host country, Kazakhstan, and the possibility of further integration into the EXPO 2017 brand.

Seven participants made the final round; their projects will compete for the right to become the mascot of the exhibition. These include mascots developed by various advertising agencies and independent designers.  

Later, the winner will be selected from the three projects with the most votes.  The results will be announced in the autumn of 2014, and the creator of the winning project will receive a contract to develop the Mascot brand book for the exhibition.

Anyone can cast their vote for one of the seven options for the EXPO 2017 mascot, regardless of their place of residence and age.  Just go to the website, log in and vote. Only authorized users of the Facebook, Vkontakte, Twitter and Moi Mir social networks can participate in the vote.

View the finalists’ projects and vote for your favorite design on our website http://www.expo2017mascot.kz.

According to Asel Kozhakova, Director of Marketing and Public Relations of JSC NC Astana EXPO-2017, designers submitted their ideas from Brazil, Mexico, Venezuela, Portugal, the USA, Germany, Switzerland, the UK, Spain, Bosnia and Herzegovina, Belgium , Lithuania, Romania, Poland, Ukraine, Israel, India, Indonesia, Russia, Kazakhstan and other countries. “We were pleasantly surprised at both the creativity and the geography of applications received,” said A. Kozhakova. “We are presenting the best ones for public voting. The mascot will personify the exhibition for the whole world, and I hope that the new mascot you choose will bring good luck to Kazakhstan.”

EXPO-2017 Astana will run for 3 months from 10 June to 10 September, 2017. Over 100 countries plan to participate, as well as more than 10 international organizations and a variety of leading companies in the field of innovative technologies.  

For more information, contact the press service of JSC NC Astana EXPO-2017, Almira Kokambayeva at +7(7172)919463 pressa@expo2017astana.kz, http://www.expo2017astana.com

Video: http://www.multivu.com/mnr/71400571-Astana-EXPO-2017

Frost & Sullivan: Increased Conventional and Unconventional O&G Explorations Drive New Investments in Latin American Positive Displacement Pump Market

– Brand awareness campaigns and training programs on the applications of positive displacement pumps are vital for market success

BUENOS AIRES, Argentina, July 30, 2014 /PRNewswire/ — Strong investment in the oil and gas (O&G) and petrochemical industries in Latin America is fueling the demand for positive displacement pumps in the region. The development of the infrastructure and food and beverage manufacturing industries to meet the accommodation and consumption needs of the expanding population, is also adding momentum to the market.

Oil Platform

Oil Platform

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New analysis from Frost & Sullivan, Analysis of the Latin American Positive Displacement Pump Market, finds that the market earned revenues of $464.5 million in 2013 and estimates this to reach $626.7 million in 2020. Although Latin America’s gross domestic product is expected to decelerate to an average of three to four percent, the demand for positive displacement pumps will grow at a compound annual growth rate of 4.4 percent mainly due to new applications in the O&G and petrochemical industries. The study covers rotary, reciprocating and peristaltic pumps.

“With the mining industry in Latin America garnering major interest from state governments and international companies, opportunities for positive displacement pump manufacturers are also emerging in this space,” said Frost & Sullivan Industrial Automation & Process Control Research Analyst Aida Paola Conti.

However, the price sensitivity of end users and their limited awareness on the advantages of positive displacement pumps and alternative technologies have been major obstacles to market development. In addition, the unstable economic condition in some leading Latin American countries has dampened consumer confidence and led to project delays. Along with the expected decrease in foreign direct investment, these factors are challenging positive displacement pump manufacturers.

“In this scenario, successful brand awareness campaigns are critical to gain market acceptance and differentiate products from the competition,” stated Conti. “Training programs on the current and new applications of positive displacement pumps are also important to attract end users across Latin America.”

For more information on this study, please email Francesca Valente, Corporate Communications, at francesca.valente@frost.com.

Analysis of the Latin American Positive Displacement Pump Market is part of the Industrial Automation & Process Control (http://www.industrialautomation.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Global Sanitary Pump Market in the Food and Beverage Industry, Global Pumps Market in the Chemicals Industry, Pumps and Valves in the North American Shale Industry, and Global Metering Pump Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

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Analysis of the Latin American Positive Displacement Pump Market
ND7F-10

Contact:
Francesca Valente
Corporate Communications — Latin America
P: +54-11-4777-5300
F: +54-11-4777-5300
E: francesca.valente@frost.com

http://www.frost.com

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