Slojab
2 years ago
It's been almost 7 years since I last posted here. And still, nothing has been achieved.
Looking at their last financial statement, I see this.
5 NOTE 5–– Employment Contract
The Company has 100 employees in China
Yet, there revenue is $0 and their salary entry is put at $16,800. Is the Chinese company operating? If so, where are their financials reported? Why was Fengchen Chain awarded $25M restricted shares?
Inventory is $654,385, As is, "intangibles"? WTH?
Other financial statements are even worse.
This situation is a mess.
stervc
11 years ago
Geologists Confirms 119M BBL (Oil) Proven & Probable…
TEAM of 7 Geologists Confirmation of 119,896,810 Barrels of Proven and Probable Reserves:
The 119,896,810 barrels of proven and probable reserves was derived from the original confirmation of the TEAM of 7 Geologists from the Ukraine Government that confirmed the 16,357 thousand tons of reserves. Let’s do the conversion.
According to the Society of Petroleum Engineers (SPE), 1 ton of oil equals 7.33 barrels of oil:
http://www.spe.org/industry/docs/UnitConversion.pdf
>>> 16,357 thousand tons of reserves = 16,357,000 tons of reserves
16,357,000 tons of reserves x 7.33 barrels of oil = 119,896,810 barrels of oil
Keep in mind, this indicated 119,896,810 barrels of oil is considered Proven & Probable reserves per the source document from the Petroleum Reserves Definitions from the Society of Petroleum Engineers:
http://www.spe.org/industry/docs/Petroleum_Reserves_Definitions_1997.pdf
… there should be at least a 90% probability that the quantities actually recovered will equal or exceed the estimate. …
… there should be at least a 50% probability that the quantities actually recovered will equal or exceed the sum of estimated proved plus probable reserves. …
So, from reading above, we can presume that there is an at least 90% amount of reserves that are ”Proven” and that there is an at least 50% amount of reserves that are ”Probable” from the total amount of 119,896,810 barrels of oil reserves. The 90% and 50% are amounts that indicate the probability that the quantities actually recovered will equal or exceed the estimate. Or in other words, the probability for the amount of the confirmed 119,896,810 barrels of oil that should be considered money in the bank to be there in the ground.
So for our sake here, let’s remain as conservative as we logical can remain and presume only an at least 50% of the reserves will be actually recovered to be money in the bank for QEDN and NRGT both. This means below for the amount of barrels of oil that should be at a minimum, considered to be actually recovered:
119,896,810 barrels of oil x .50 Actually Recovered = $59,948,405 Barrels of Oil Actually Recovered
As indicated from the link below, the retail price for a barrel of oil in the Ukraine is currently $94.00+ per barrel which warrants a Minimum Retail Valuation below:
http://oilprice.com/Energy/Energy-General/Ukraines-Two-New-Energy-Deals.html
$59,948,405 Barrels of Oil Actually Recovered x $90.00 per barrel = $5,635,150,070 Retail Valuation
NRGT filed an 8-K with the SEC on Jan 2, 2014 to confirm the 100% acquisition of AFON 2010 Ltd. from V.V. Yurchak:
http://www.sec.gov/Archives/edgar/data/1499618/000121390014000017/f8k072513_energytoday.htm
QEDN confirms below in a PR and a Quarterly Report that they own 22% of NRGT:
http://ih.advfn.com/p.php?pid=nmona&article=60533470
http://www.otcmarkets.com/financialReportViewer?symbol=QEDN&id=115306
NOTE 9 – INVESTMENT ACCOUNT
The investment account reflects the Energy Today Inc. investment. During 2nd quarter the ownership fell below 50.1% and therefore the financials are not consolidated. In the third quarter the Company had 22% of Energy Today.
This means that out of the $5,635,150,070 Retail Valuation…
NRGT owns 78% which = $4,395,417,055 Retail Valuation
QEDN owns 22% which = $1,239,733,015 Retail Valuation
The Special Permit to drill was approved by Deputy Minister Yevdoshchuk M.I. Signature
Seal of the Ministry of Nature Ministry of Environmental Protection of Ukraine ID code 00013735
B?003491:
http://www.qedconnect.com/wp-content/uploads/2014/01/AFON-Permit-at-South-Teresnyanska-structure.pdf
The TEAM of 7 Government Geologists from the Western Ukrainian Geophysical Reconnaissance Expedition (WUGRE) that confirmed the work and gave the Conclusion to Prepare for Drilling:
http://www.qedconnect.com/wp-content/uploads/2014/01/AFON-quality-of-structure-preparation-for-Boryslavska-Pokutska-zone-1.pdf
Confirmation of Special Permit Approval Granted from Website:
http://www.qedconnect.com/wp-content/uploads/2014/01/AFON-Permit-at-South-Teresnyanska-structure.pdf
5 Wells – Drilling Data from Types and Volumes of Work Performed:
http://www.qedconnect.com/wp-content/uploads/2014/01/AFON-Teresnyanska-work-performed-5-wells.pdf
Key Documents from Company’s Website in order Relating to AFON 2010 Ltd. Acquisition:
http://www.qedconnect.com/about-us/natural-resources/
AFON Permit at South Teresnyans’ka structure:
http://www.qedconnect.com/wp-content/uploads/2014/01/AFON-Permit-at-South-Teresnyanska-structure.pdf
Characteristics of subsoil area South Teresnyans’ka area:
http://www.qedconnect.com/wp-content/uploads/2014/01/Characteristics-of-subsoil-area-South-Teresnyanska-area.pdf
AFON Teresnyanska work performed - 5 Wells:
http://www.qedconnect.com/wp-content/uploads/2014/01/AFON-Teresnyanska-work-performed-5-wells.pdf
AFON quality of structure preparation for Boryslavs’ka-Pokuts’ka zone:
http://www.qedconnect.com/wp-content/uploads/2014/01/AFON-quality-of-structure-preparation-for-Boryslavska-Pokutska-zone-1.pdf
AFON Seismic-geological profile I region:
http://www.qedconnect.com/wp-content/uploads/2014/01/AFON-Seismic-geological-profile-I-region.pdf
AFON Seismic-geological profile II region:
http://www.qedconnect.com/wp-content/uploads/2014/01/AFON-Seismic-geological-profile-II-region-1.pdf
v/r
Sterling
stervc
11 years ago
NRGT & QEDN News of AFON 2010 Ltd. Acquisition Closing...
http://ih.advfn.com/p.php?pid=nmona&article=60680068&symbol=NRGT
QED Connect Inc. Provides Update to AFON 2010 Ltd. Acquisition
16,357 Metric Thousand Tons of Ukraine Oil Reserves
MANCHESTER, NH--(Marketwired - Jan 15, 2014) - 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.
For more information contact
Tom Makmann
(603) 425-8933
info@qedconnect.com
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