News Article | February 17, 2017
DANVILLE, CA / ACCESSWIRE / February 17, 2017 / PEDEVCO Corp. d/b/a Pacific Energy Development (NYSE MKT: PED) (the "Company"), today announced that on February 13, 2017, the NYSE MKT (the "Exchange") notified the Company that it has accepted the Company's plan of compliance (the "Plan") which the Company previously presented to the Exchange on January 27, 2017, pursuant to which the Company plans to increase its stockholders' equity to at least $6 million prior to the targeted completion date of June 27, 2018, during which period the Company's listing is being continued pursuant to an extension. The Exchange had previously notified the Company in December 2016 that it was not in compliance with certain of the Exchange's continued listing standards, as disclosed by the Company on December 30, 2016. The Company's Plan as accepted by the Exchange contemplates consummating one of several potential transactions currently being considered by the Company, each of which are anticipated to result in a substantial increase in the Company's stockholders' equity, including (i) the previously-announced acquisition of GOM Holdings, LLC (the "GOM Merger"), which the Company is currently pursuing but which has been delayed due to the parent company of GOM Holdings, LLC ("GOM") entering into Bankruptcy and GOM's assets being subject thereto, and (ii) certain alternative transactions for which the Company is currently in term sheet discussions with third parties and certain of the Company's senior lenders, which potential transactions contemplate the acquisition of oil and gas assets by the Company in exchange for equity, coupled with the reduction or complete discharge of Company debt through conversion of such debt into Company equity or satisfaction of the debt through payment of funds raised in an equity fundraising transaction, in each case with the debt being converted or being discharged on a discounted basis. While there is no guarantee that either the GOM Merger or any of the contemplated alternative transactions will be consummated on terms acceptable to the Company and its senior lenders, it is anticipated that any of these transactions would, if closed as anticipated, substantially increase the Company's stockholders' equity well before the required June 27, 2018 Plan completion date. Mr. Michael L. Peterson, President and Chief Executive Officer of the Company, commented, "We are excited with the multiple opportunities that the Company is currently considering and are confident that if the Company successfully consummates one of these transactions in the coming quarters as planned, we will significantly improve our stockholders' equity. We believe that such a transaction, coupled with a reverse stock split we plan to consummate in the coming months, will not only return our Company to full compliance with the NYSE MKT's continued listing standards, but will, more importantly, position our company on an even stronger footing as we continue to seek to execute our business plan and strive to build shareholder value." PEDEVCO Corp, d/b/a Pacific Energy Development (NYSE MKT: PED), is a publicly-traded energy company engaged in the acquisition and development of strategic, high growth energy projects, including shale oil and gas assets, in the United States. The Company's principal asset is its D-J Basin Asset located in the D-J Basin in Colorado. Pacific Energy Development is headquartered in Danville, California, with an operations office in Houston, Texas. All statements in this press release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the Company's control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under Item 1A "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 and subsequently filed periodic reports under the heading "Risk Factors". The Company operates in a highly competitive and rapidly changing environment, thus new or unforeseen risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statements, except as otherwise required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. Readers are also urged to carefully review and consider the other various disclosures in the Company's public filings with the Securities Exchange Commission (SEC).
Hama S.,Energy Development Corporation |
Kondo A.,Kobe University
Bioresource Technology | Year: 2013
The increased global demand for biofuels has prompted the search for alternatives to edible oils for biodiesel production. Given the abundance and cost, waste and nonedible oils have been investigated as potential feedstocks. A recent research interest is the conversion of such feedstocks into biodiesel via enzymatic processes, which have considerable advantages over conventional alkali-catalyzed processes. To expand the viability of enzymatic biodiesel production, considerable effort has been directed toward process development in terms of biodiesel productivity, application to wide ranges of contents of water and fatty acids, adding value to glycerol byproducts, and bioreactor design. A cost evaluation suggested that, with the current enzyme prices, the cost of catalysts alone is not competitive against that of alkalis. However, it can also be expected that further process optimization will lead to a reduced cost in enzyme preparation as well as in downstream processes. © 2012 Elsevier Ltd.
Energy Development Corporation | Date: 2015-10-21
A method of installing a support pile when refusal is encountered comprising the steps of: side drilling a ground surface proximate to a support pile to a predetermined embedment depth; thereby creating a void; driving the support pile to a predetermined embedment depth; and backfilling the void using a suitable filler material.
Energy Development Corporation | Date: 2013-01-02
A hydrogen generation system comprising:a hydrogen generation reaction section (1) for containing a liquid mixture of formic acid and an ionic liquid, and decomposing the formic acid into hydrogen and carbon dioxide by heating; anda separation section (30) for separating a mixture of hydrogen and carbon dioxide supplied from the hydrogen generation reaction section into hydrogen and carbon dioxide, whereinafter the separation, the hydrogen is sent out of the separation section to an external hydrogen destination, and the carbon dioxide is sent out of the separation section to an external carbon dioxide destination or emitted into the atmosphere.
Energy Development Corporation | Date: 2014-07-25
A magnetic levitation power device is revealed. The magnetic levitation power device includes at least two sets of power devices, a motor, and a power generator. The magnetic levitation power device features on the power devices each of which consists of a first seat, a second seat and a transmission set. A first sleeve is set on the first seat and a second sleeve is arranged at the second seat. The transmission set is composed of a shaft, a large gear and a small gear. Each of two ends of the shaft are disposed with two magnetic bodies respectively and are mounted in a sleeve. The magnetic bodies are arranged with like poles repel each other so that the transmission set is suspended and friction coefficient of the shaft is reduced. Therefore high speed transmission is achieved by low power to get high power.
Energy Development Corporation | Date: 2012-06-27
A hydrogen generation system includes a hydrogen generation reaction section for containing a liquid mixture of formic acid and an ionic liquid, and decomposing the formic acid into hydrogen and carbon dioxide by heating; and a separation section for separating a mixture of hydrogen and carbon dioxide supplied from the hydrogen generation reaction section into hydrogen and carbon dioxide, wherein after the separation, the hydrogen is sent out of the separation section to an external hydrogen destination, and the carbon dioxide is sent out of the separation section to an external carbon dioxide destination or emitted into the atmosphere.
Energy Development Corporation | Date: 2012-08-30
This invention relates to apparatuses and methods for the reduction of carbon dioxide emissions resulting from combustion using a bioreactor that includes methanogenic bacteria or genetically modified algae.
Energy Development Corporation | Date: 2012-10-05
A formic acid producing apparatus comprising a closed formic acid synthesis reaction section to which an ionic liquid, hydrogen, and carbon dioxide are introduced externally, and in which formic acid is synthesized.
News Article | January 28, 2016
The Philippines has overtaken all other members of the Association of Southeast Asian Nations in terms of installed wind energy capacity. Philippines now has an operational wind energy capacity of 400 MW, more than anything other country in the Association of Southeast Asian Nations (ASEAN) region, according to media reports quoting former Senator Juan Miguel Zubiri, who played an important role in the passage of Renewable Energy Law of 2008. The Philippines is planning to increase the installed wind energy capacity to 1,600 MW over the next 2-3 years. Zubiri stated that the Philippines has significant wind energy resources spread across various islands of the country. The Renewable Energy Management Bureau has identified at least 44 potential sites for setting up wind turbines, which together can support 1,168 MW of wind energy capacity. The Renewable Energy Law of 2008, which also led to the launch of feed-in tariff scheme, attracted investment from several domestic and international project developers. One of the most famous example of the benefits of the Law is the Philippines’ largest wind energy project, with an installed capacity of 150 MW, and owned by Energy Development Corporation. The project will includes 50 units of the Vestas V90-3 MW turbine. The project is expected to generate 370 GWh of electricity every year and offset about 200,000 tonnes of carbon dioxide emissions. Get CleanTechnica’s 1st (completely free) electric car report → “Electric Cars: What Early Adopters & First Followers Want.” Come attend CleanTechnica’s 1st “Cleantech Revolution Tour” event → in Berlin, Germany, April 9–10. Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.
News Article | February 23, 2017
Debra Fiakas is the Managing Director of , an alternative research resource on small capitalization companies in selected industries. Last week, one of the leaders in a development consortium, Iceland’s largest privately owned energy generator HS Orka hf , announced the completion of a project to prove the merits of deeper geothermal wells. The project in the Reykjanes Peninsula in southern Iceland reached 4,659 meters depth in January 2017, where temperatures measured 427 degrees Centigrade and fluid pressure was 340 bars. By all accounts the project was successful, suggesting that deep wells could a cost effective approach to geothermal energy.The drilling program was mentioned in early December 2015 a recent post “Hot Rocks, Warm Stock,” which touched on the option of investing in a larger company, Statoil (STL: SW or STO: NYSE) , for a stake in geothermal technologies for renewable energy. Unfortunately, a position in Statoil brings with it the noise of Statoil’s fossil fuel interests. Fortunately, for the more environmentally-conscious investor, there is an alternative.HS Orka is majority owned by Alterra Power AXY : TO or MGMXF: OTC) a Canada-based geothermal power generation company. Alterra has interests in eight different power facilities totaling 825 megawatts of generation capacity using hydro, wind, geothermal and solar technologies. The assets are located in Texas and Indiana in the U.S., British Columbia in Canada and, of course, the HS Orka asset in Iceland. Alterra’s development pipeline includes additional geothermal projects in Iceland through HS Orka, in Peru through a local Energy Development Corporation, and in Italy through Graziella Green Power. Notably HS Orka is also planning new hydro-electric projects, in which Alterra will participate. No doubt the knowledge gained during the recently completed deep well drilling project will boost HS Orka’s geothermal development as well.Alterra Power reported $42.9 million in total sales in the first nine months of the year 2016, providing $2.7 million in net income or $0.06 per share. Since there is considerable noise in reported income from charges and benefits through the shifting values of equity derivatives, the financial fortunes of this company are best viewed from the perspective of cash earnings. Operations generated $15.5 million in cash in the first nine months of 2016, representing sales-to-cash conversion rate of 33.8%. This compares favorably to the conversion rate in the previous year of 28.0%, and suggests Alterra can consistently generate cash for future investments.Internal cash resources have not been enough for Alterra’s ambitious development plans. The company had $273.6 million in long-term debt on the balance sheet at the end of September 2016. The debt-to-equity ratio was 1.15, suggesting there is potential for additional leverage if the company needs to move aggressively in its renewable energy markets.Alterra’s common stock trades on the Toronto exchange under the symbol AXY, but investors can also gain access through the Over-the-Counter Pink Sheets where the stock is quoted as MGMXF. The shares have traded off in recent weeks providing a compelling entry point for shareholders with the lengthy investor horizon and risk tolerance for smaller companies. Neither the author of the Small Cap Strategist web log, Crystal Equity Research nor its affiliates have a beneficial interest in the companies mentioned herein.