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QED Connect, Inc. Signs Definitive Agreement to Acquire Oil & Gas Company with Rosdanex Limited
QED Connect, Inc. Signs Definitive Agreement to Acquire Oil & Gas Company with Rosdanex Limited.
About this update from Qed Connect, Inc.
[{"type":"text","content":"\n\n\n\n\n\n\n\nQED Connect, Inc. Signs Definitive Agreement to Acquire Oil & Gas Company with Rosdanex Limited\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nQED Connect, Inc. Signs Definitive Agreement to Acquire Oil & Gas Company with Rosdanex Limited\n\nPR Newswire\n\nMANCHESTER, N.H., Jan. 29, 2013\n\n\n\n\n\n\n\nMANCHESTER, N.H., Jan. 29, 2013 /PRNewswire/ -- QED Connect, Inc. (\"QED\") (OTC Pink Sheets: QEDN) today announced that it has signed a definitive agreement to acquire Kuma Oil which owns oil and gas rights in the Russian territory of Perm Krai. \n\n\nKuma's oil reserves were qualified in a study by Miller Lents, a Houston-based petroleum consulting firm and subsequently verified to have 105,000,000 barrels of proven and probable reserves. Fully developed, these reserves have an estimated Net Asset Value (NAV) of approximately $525 million from the combination of Proven and Proven Undeveloped Reserves. \n\n\nThe Russia-based group (\"Kumskaya Group\") companies have assets consisting of oil & gas concessions to explore develop produce/extract and undertake extensive exploration and geological work to existing and new oil fields. Kuma Oil is the licensed mineral developer and its affiliate, NMSS, is one of the largest regional, Russian oil field services providers based in Western Siberia. There are two fields that have been explored and mapped with production plans in place with the initial field of 9 wells that will begin production over next 9 months. \n\n\nMr. Konstantih Mikhaylichenko, Executive Officer of Rosdanex Limited commented, \"We are looking forward to working with the QED Connect organization to provide the resources to implement our business plan over the next five years. With this added support, we will be well positioned to develop the reserves and realize their full potential.\" \n\n\nMr. Tom Makmann, CEO of QED Connect, commented, \"QED is in the process of implementing its strategy of developing a portfolio of natural resource companies and Kuma ...