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News Article | February 28, 2017
Site: www.marketwired.com

Leveraging Robotic Process Automation and a Low-Code Application Platform, Organizations Can Minimize Human Error, Drastically Reduce Processing Times, and Improve Customer Experience RESTON, VA--(Marketwired - Feb 28, 2017) -  Appian and Blue Prism, the pioneer of Robotic Process Automation (RPA) software, today announced a technology alliance to better serve enterprises with their digital transformation initiatives. Reacting quickly to market opportunities and consistently producing great customer experiences is key to success in this fast-moving digital world. However, many organizations are stuck with complex business processes and legacy business systems that slow them down. Appian's low-code platform can provide organizations with the speed needed to capitalize on opportunities that the digital world presents and the power to streamline complex business processes. Blue Prism's Digital Workforce of Software Robots will enable employees to focus on higher-value work while autonomous multi-skilled software robots tirelessly perform error-free rules based admin transactions. "Enterprises today are under immense pressure to continuously deliver new digital customer experiences and operational solutions, but remain burdened by existing legacy platforms and poor technology to support agile change," said Michael Beckley, Appian's chief technology officer. "Blue-Prism's industry leading robotic automation capabilities and Appian's low-code platform enable organizations to rapidly deliver new digital solutions while leveraging existing legacy systems while reducing manual inefficiencies. Some of our existing joint customers have already seen improvements in process efficiency by combining Appian with Blue Prism's digital workforce." Key benefits that organizations can leverage through the partnership between Appian and Blue Prism include: "Appian's technology greatly extends our customers' ability to leverage RPA throughout their business," said Dave Moss, Blue Prism's chief technology officer. "Appian's low-code application platform is revolutionizing the way companies manage and execute business operations in the digital realm. Adding Blue Prism's RPA software is a natural way to help customers transform their operations with a powerful digital workforce." In addition, Blue Prism will be demonstrating how to leverage RPA in a successful digital transformation initiative with Appian at the annual conference, Appian World, hosted in San Francisco, CA on April 3-5, 2017. To learn more or attend the conference, register here. For more information on Appian, click here. About Appian Appian delivers an enterprise platform for digital transformation that enables organizations to revolutionize their customer experience, optimize their business operations, and master global risk and compliance. Powered by industry leading Business Process Management (BPM) and Case Management capabilities, Appian's low-code approach can radically accelerate the time it takes to build and deploy powerful, modern applications, on-premises or in the cloud. For more information, visit www.appian.com. About Blue Prism Blue Prism Robotic Process Automation (RPA) software delivers the world's most successful digital workforce, which operates within the most demanding enterprise administrative environments to automate high-risk, manual, rules-based and repetitive tasks and radically improves agility, efficiency, accuracy and compliance. Blue Prism provides a scalable and robust execution platform for best-of-breed AI and cognitive technologies and has emerged as the trusted and secure RPA platform for the digital enterprise. Blue Prism's RPA software has executed more than one billion transactions for enterprises including Aegon, BNY Mellon, Commerzbank, IBM, ING, Maersk, Nokia, Nordea, Procter & Gamble, Raiffeisen Bank, Siemens, Westpac and Zurich. For more information about Blue Prism ( : PRSM), visit www.blueprism.com and follow the company on LinkedIn and Twitter.


News Article | February 21, 2017
Site: www.businesswire.com

PALO ALTO, Calif.--(BUSINESS WIRE)--Maana, the pioneer of enterprise knowledge technology, today announced it was named in the 2016 Global Cleantech 100 Ones to Watch list, produced by Cleantech Group (CTG). The Ones to Watch list seeks to highlight a group of up and coming companies that are catching the eye of leading investors in the market. The 8th edition of the Global Cleantech 100 list was published on January 23, 2017. “The Global Cleantech 100 program is our annual in-depth research exercise to identify the innovative companies that leading players in the market are most excited by right now,” said Richard Youngman, CEO, CTG. “By the nature of the list, the Ones to Watch truly represent the next cadre of exciting disruptive companies.” “Maana is honored to have passed the rigorous vetting methodology and be mentioned alongside the other innovative companies in this year’s Global Cleantech 100 list,” said Babur Ozden, CEO and founder, Maana. “The Maana Knowledge Platform extends beyond the realm of data analytics by making human knowledge the centerpiece of business process and asset optimization.” This year, a record number of nominations for the annual Global Cleantech 100 list were received: 9,900 distinct companies from 77 countries. These companies were weighted and scored to create a short list of 325 companies, with these nominees reviewed by Cleantech Group’s Expert Panel. The Ones to Watch list, a sister list to the annual Global Cleantech 100 list, is created from the top 250 of the shortlist. To qualify for either list, companies must be independent, for-profit, cleantech companies that are not listed on any major stock exchange. Founded in 2002, the mission of Cleantech Group (CTG) is to accelerate sustainable innovation. Our subscriptions, events and programs are all designed to help corporates, investors, and all players in the innovation ecosystem discover and connect with the key companies, trends, and people in the market. Our coverage is global, spans the entire clean technology theme and is relevant to the future of all industries. The company is headquartered in San Francisco, with a growing international presence in London. Our parent company, Enovation Partners, one of Consulting Magazine's 7 to Watch, is based in Chicago (learn more at www.enovationpartners.com). Maana pioneered “knowledge technology” for the enterprise. The Maana Knowledge Platform turns human expertise and data into digital knowledge for employees to make better decisions–faster. Maana’s patented Knowledge Graph™ combined with Maana’s proprietary algorithms, expedite extracting knowledge from data silos, to reveal the relationships in the context of optimizing assets or processes. Customers include Fortune 500 companies such as Chevron, GE, Maersk and Shell. Maana’s investors are comprised of Chevron Technology Ventures, Frost Data Capital, GE Ventures, Intel Capital, Saudi Aramco Energy Ventures, and Shell Technology Ventures. Maana is privately held with offices in Palo Alto, California, Bellevue, Washington and Houston, Texas. Visit us at https://www.maana.io/


News Article | March 1, 2017
Site: globenewswire.com

Notice is hereby given of the annual general meeting of H. Lundbeck A/S to be held on: The general meeting will be held at the offices of the Company at: In accordance with Article 8.1 of the Articles of Association, the agenda of the meeting is as follows: 7.1       Proposal from the Board of Directors to authorise the Board of Directors to allow the Company to acquire own shares. 7.2       Proposal from the Board of Directors to authorise the Chairman of the meeting to file for registration of the resolutions passed at the general meeting with the Danish Business Authority. The Board of Directors recommends that the report be adopted. The Board of Directors proposes that the annual report be approved. The Board of Directors proposes to distribute a dividend of 40% of the net profit for the accounting year 2016, corresponding to DKK 2.45 per share, or a total dividend of DKK 484 million. The Board of Directors of H. Lundbeck A/S should consist of persons who together possess the financial, pharmaceutical and international qualifications required for safeguarding the Company's and, thus, the shareholders' interests in the best manner possible having regard to the Company's other stakeholders. The Board of Directors' most important duties are to formulate Lundbeck's overall strategy, set specific objectives for the Company's Executive Management and ensure that the members of the Executive Management have the right qualifications. For a more detailed description of the qualifications required for members of the Board of Directors, please see the Company's website: www.lundbeck.comà About Us à Corporate Governance. Members of the Board of Directors elected by the general meeting are elected or re-elected every year, and therefore the term of office of the current members expires in connection with this annual general meeting. The Board of Directors proposes that the following members elected by the general meeting should be re-elected: Lars Rasmussen, Lene Skole, Lars Holmqvist and Jesper Ovesen. In addition, the Board of Directors proposes that Jeremy M. Levin is elected. Terrie Curran does not wish to stand for re-election. The Board of Directors expects to elect Lars Rasmussen as Chairman and elect Lene Skole as Deputy Chairman. The Board of Directors assesses that the candidates together possess the professional and international experience required for maintaining the Company's position as a leading global pharmaceutical company focusing on research and development in the field of brain disorders. The Board of Directors also considers the size of the Board appropriate taking into account the Company's needs and the aim of ensuring constructive debate and effective decision-making. Regard has been given to diversity in the selection of board candidates. The Recommendations on Corporate Governance recommend that at least half of a company's board members elected by the general meeting should be independent of the company. Lars Rasmussen, Jesper Ovesen and Jeremy M. Levin meet the criteria for independence. Lene Skole and Lars Holmqvist are considered to be non-independent board members due to their responsibilities in the Lundbeck Foundation. If the proposed candidates are elected to the Board of Directors, the Board will meet the recommendation for independence as defined by the Recommendations on Corporate Governance. The proposed board candidates have the following backgrounds: Lars Rasmussen, BSc Engineering and MBA, was born on 31 March 1959 and is a Danish citizen. He was nominated for election to Lundbeck's Board of Directors at the 2013 annual general meeting. He chairs Lundbeck’s Remuneration and Scientific Committees, and is member of Lundbeck's Audit Committee. Lars Rasmussen has considerable management experience in global med-tech. Lars Rasmussen was appointed as CEO of Coloplast A/S in 2008 and has been member of the company's executive management since 2001. In this period, he has been responsible for various functions in the group, including global sales, innovation and production. He has performed these duties from both Denmark and the USA. Lars Rasmussen's special qualifications for serving on Lundbeck's Board of Directors include his top management experience and knowledge of efficiency improvements and internationalisation. Lars Rasmussen is member of the Board of Directors of William Demant Holding A/S. Lene Skole, BCom Finance, was born on 28 April 1959 and is a Danish citizen. She was nominated for election to Lundbeck’s Board of Directors at the 2015 annual general meeting. She is member of Lundbeck's Remuneration and Scientific Committees. Lene Skole is CEO at the Lundbeck Foundation. Prior to joining the Lundbeck Foundation in 2014, Lene Skole was CFO at Coloplast A/S where she was a member of the company’s executive management since joining in 2005. Lene Skole’s responsibilities included finance, IT, HR, communication, strategy and M&A. Before 2005, Lene Skole held various positions in the AP Moller-Maersk group most recently as CFO of Maersk Company Ltd., London from 2000-2005. Lene Skole’s special qualifications for serving on Lundbeck’s Board of Directors include extensive knowledge and expertise within financing, strategy, business development and M&A as well as management experience from international companies including med-tech. Lene Skole is vice chairman of the Board of Directors of DONG Energy A/S, Falck A/S, ALK-Abelló A/S, and member of the Board of Directors of Tryg A/S and Tryg Forsikring A/S. Lars Holmqvist, MSc in business administration, was born on 4 September 1959 and is a Swedish citizen. He was nominated for election to Lundbeck’s Board of Directors at the 2015 annual general meeting. He is member of Lundbeck’s Audit Committee. Lars Holmqvist is senior advisor within healthcare at Bain Capital. He previously served as vice president responsible for sales and marketing at Pharmacia. In addition he has held management positions in several pharma and med-tech companies including Boston Scientific Corporation, Medtronic, Applied Biosystems Group, DAKO and Agilent Technologies. Lars Holmqvist’s special qualifications for serving on Lundbeck`s Board of Directors include his international management experience, his expertise in finance, and his sales and marketing experience from the global pharmaceutical, med-tech and life-science industry. Lars Holmqvist is member of the Board of Directors of the Lundbeck Foundation, ALK-Abelló A/S, Tecan AG and BPL Ltd. Jesper Ovesen, MSc in finance and state authorized public accountant, was born on 20 March 1957 and is a Danish citizen. He was nominated for election to Lundbeck’s Board of Directors at the 2015 annual general meeting and chairs Lundbeck’s Audit Committee. Jesper Ovesen most recently held the position of executive chairman of the Board of Directors of Nokia Siemens Networks BV. Prior to this, he served as CFO in TDC A/S, Lego A/S and Danske Bank A/S, and finance director at Novo Nordisk A/S. Jesper Ovesen’s special qualifications for serving on Lundbeck’s Board of Directors include his international management experience and his expertise in finance, accounting and international capital markets. Jesper Ovesen is vice chairman of the Board of Directors of Scandinaviska Enskilda Banken AB and member of the Board of Directors of Sunrise Communications Group AG and ConvaTec Group PLC. Jeremy M. Levin, BA Zoology, MA and DPhil in Molecular Biology and MB BChir Medicine and Surgery, was born on 9 September 1953 and is a British and US citizen. He is nominated for election to Lundbeck’s Board of Directors at the 2017 annual general meeting. Jeremy M. Levin has more than 25 years of experience in the global pharmaceuticals industry, leading companies and people to develop and commercialize medicines that address compelling medical needs worldwide. Since 2014, he has been CEO and chairman of Ovid Therapeutics, a New York-based neurology company focused on rare and orphan diseases of the brain. Previously, Jeremy M. Levin served as President & CEO of Teva Pharmaceuticals and before becoming CEO of Teva, he was a member of the Executive Committee of Bristol-Myers Squibb where he was globally responsible for overall strategy, alliances and business development. Prior to that, he was Global Head of Strategic Alliances at Novartis, where he established and managed strategic collaborations with multiple companies and research institutions around the world. Jeremy M. Levin’s special qualifications for serving on Lundbeck’s Board of Directors include a robust blend of clinical insight and experience, business development skills, corporate strategy and financial savvy. In addition he has substantial board experience. Jeremy M. Levin is member of the Board of Directors of BioCon in India, ZappRx and on the Board and Executive Committee of BIO, the Biotechnology Innovation Organization in the USA. It is proposed that the Board of Directors should receive the following remuneration for the current financial year: -     Ordinary members will receive a basic remuneration of DKK 350,000 (increased from DKK 300,000) -     The Chairman will receive three times the basic remuneration -     The Deputy Chairman will receive two times the basic remuneration -     Ordinary members of the Board Committees will receive DKK 200,000 in addition to the basic remuneration -     The committee chairmen will receive DKK 300,000 in addition to the basic remuneration In accordance with the recommendation submitted to the Board of Directors by the Audit Committee, the Board of Directors proposes that Deloitte Statsautoriseret Revisions-partnerselskab should be re-elected. The Audit Committee is free from influence by a third party and is not subject to a contract with a third party restricting the choice of the general meeting to certain categories or lists of statutory auditors or audit firms, as regards the appointment of a particular statutory auditor or audit firm to carry out the statutory audit of the Company. It is proposed to authorise the Board of Directors until the next annual general meeting to allow the Company to acquire own shares of a total nominal value of up to 10% of the share capital in accordance with applicable law. The purchase price for the relevant shares may not deviate by more than 10% from the price quoted on Nasdaq Copenhagen A/S at the time of the acquisition. The Board of Directors proposes to authorise the Chairman of the general meeting to make such amendments and additions to the resolutions passed by the general meeting and the application for registration with the Danish Business Authority that may be required by the Danish Business Authority in connection with the registration of the adopted amendments. All proposals on the agenda may be adopted by a simple majority of votes. H. Lundbeck A/S welcomes all shareholders who have obtained an admission card for themselves and for any adviser accompanying them at the general meeting. Please note that admission cards must be obtained prior to the general meeting in order to attend. Access to the general meeting is via the reception on Otilliavej 9, DK-2500 Valby. There is limited parking space available on Ottiliavej and Postgården. In accordance with Article 10.1 of the Articles of Association, admission cards will be provided to shareholders entitled to vote at the general meeting. Anyone who is registered as a shareholder in the register of shareholders on the date of registration, 23 March 2017, or who has made a request to such effect, including evidence of title to shares, that has reached the Company on that date, is entitled to vote at the general meeting (see Article 10.4 of the Articles of Association). Admission cards for the general meeting can be obtained up to and including 24 March 2017 at the Company's website www.lundbeck.com, from Computershare A/S, Kongevejen 418, DK-2840 Holte, tel. +45 4546 0999, or by returning the request form to Computershare A/S. As a new initiative admission cards will be sent out electronically via email to the email address specified in the investor portal upon registration. The admission card must be presented at the general meeting either electronically on a smartphone/tablet or printed. Shareholders who have ordered admission cards without specifying their email address can pick up the admission card at the entrance of the general meeting upon presentation of valid ID. Voting cards will be handed out at the entrance of the general meeting. The Company's nominal share capital is DKK 988,186,125 divided into shares of DKK 5 nominal value. Each share of DKK 5 carries one vote as provided by Article 10.6 of the Articles of Association. The following information and documents will be made available on the Company's website, www.lundbeck.com, on 1 March 2017: 1) The notice convening the general meeting; 2) the total number of shares and voting rights at the date of the notice; 3) all documents to be submitted to the general meeting, including the audited annual report; 4) the agenda and the full text of all proposals to be submitted to the general meeting; and 5) postal and proxy voting forms. All shareholders may ask questions in writing about the agenda and the documents to be used for the general meeting. Questions may be sent by post or by email to investor@lundbeck.com and will be answered prior to or at the general meeting. If you are prevented from attending the general meeting, the Board of Directors would be pleased to act as proxy to cast the votes attaching to your shares, in which case the proxy form, duly completed, dated and signed, must reach Computershare A/S, Kongevejen 418, DK-2840 Holte, by 24 March 2017. If you wish to appoint proxies other than to the Board of Directors, the form for appointing a third party as proxy can be used. The proxy forms are available on the Company's website, www.lundbeck.com. Proxies may also be appointed electronically on www.lundbeck.com on or before 24 March 2017 (please use custody account number and access code or the Danish NEMID). You may also vote by post by completing and signing the postal voting form and returning it to Computershare A/S, Kongevejen 418, DK-2840 Holte, so that it is received by 29 March 2017 at 12 noon. A postal voting form is available on the Company's website www.lundbeck.com, where votes may also be cast electronically. Also this year, Lundbeck offers simultaneous interpretation from Danish into English in the Auditorium. The general meeting will also be webcast live in Danish and English (can be replayed after the meeting). See the Company's website, www.lundbeck.com. If you have functional impairments which makes passage from the entrance to the Auditorium difficult you may request assistance from the staff upon arrival at the reception. H. Lundbeck A/S (LUN.CO, LUN DC, HLUYY) is a global pharmaceutical company specialized in psychiatric and neurological disorders. For more than 70 years, we have been at the forefront of research within neuroscience. Our key areas of focus are Alzheimer's disease, depression, Parkinson's disease and schizophrenia. Our approximately 5,000 employees in 55 countries are engaged in the entire value chain throughout research, development, manufacturing, marketing and sales. Our pipeline consists of several late-stage development programmes and our products are available in more than 100 countries. We have production facilities in Denmark, France and Italy. Lundbeck generated revenue of DKK 15.6 billion in 2016 (EUR 2.1 billion; USD 2.2 billion). For additional information, we encourage you to visit our corporate site www.lundbeck.com and connect with us on Twitter at @Lundbeck. The above information contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions, product approvals and financial performance. Such forward-looking statements are subject to risks, uncertainties and inaccurate assumptions. This may cause actual results to differ materially from expectations and it may cause any or all of our forward-looking statements here or in other publications to be wrong. Factors that may affect future results include interest rate and currency exchange rate fluctuations, delay or failure of development projects, production problems, unexpected contract breaches or terminations, government-mandated or market-driven price decreases for Lundbeck's products, introduction of competing products, Lundbeck's ability to successfully market both new and existing products, exposure to product liability and other lawsuits, changes in reimbursement rules and governmental laws and related interpretation thereof, and unexpected growth in costs and expenses. Certain assumptions made by Lundbeck are required by Danish Securities Law for full disclosure of material corporate information. Some assumptions, including assumptions relating to sales associated with product that is prescribed for unapproved uses, are made taking into account past performances of other similar drugs for similar disease states or past performance of the same drug in other regions where the product is currently marketed. It is important to note that although physicians may, as part of their freedom to practice medicine in the US, prescribe approved drugs for any use they deem appropriate, including unapproved uses, at Lundbeck, promotion of unapproved uses is strictly prohibited.


News Article | February 28, 2017
Site: www.marketwired.com

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 27, 2017) - Africa Oil Corp. ("Africa Oil" or the "Company") (TSX:AOI)(OMX:AOI) is pleased to announce its financial and operating results for the three months and year ended December 31, 2016. At December 31, 2016, the Company had cash of $463.1 million and working capital of $435.0 million. The Company's liquidity and capital resource position improved dramatically during 2016 with the receipt of $439.4 million (inclusive of deposit received prior to 2015 year-end) upon completion of the farmout transaction with Maersk Olie og Gas A/S ("Maersk") whereby Maersk acquired 50% of the Company's interests in Blocks 10BB, 13T and 10BA in Kenya and the Rift Basin and South Omo Blocks in Ethiopia. Proceeds received from Maersk include $350.0 million as reimbursement of past costs incurred by the Company prior to the agreed March 31, 2015 effective date and $89.4 million representing Maersk's share of costs incurred between the effective date and closing, including a carry reimbursement of $15.0 million related to exploration expenditures. An additional $75.0 million development carry may be available to the Company upon confirmation of existing resources. Upon Final Investment Decision ("FID"), Maersk will be obligated to carry Africa Oil for an additional amount of up to $405.0 million depending on meeting certain thresholds of resource growth and timing of first oil. During the fourth quarter of 2016, Tullow Oil, Maersk, and Africa Oil (the "Joint Venture Partners") recommenced drilling activities in the South Lokichar oil basin located in Blocks 10BB and 13T in Kenya. One drilling rig is currently active and is undertaking an initial program of four wells and the potential to extend this by a further four wells. The first well in the drilling program, Erut-1 (Block 13T) resulted in a discovery of a gross oil interval of 55 meters with 25 meters of net oil pay at a depth of 700 meters. The overall oil column for the field is between 100 and 125 meters. Potential exists for additional pay but will need to be confirmed by laboratory analysis. The objective of the well was to test a structural trap at the northern limit of the South Lokichar Basin. Fluid samples taken and wireline logging all indicate the presence of oil. Erut-1 successfully shows that oil has migrated to the northern limit of the South Lokichar Basin and has de-risked multiple prospects in this area which will now be considered as part of the Partnership's future exploration and appraisal drilling program. Following Erut-1, the PR Marriott Rig-46 moved to Block 10BB, where it is currently drilling the Amosing-6 appraisal well. Additional prospects in the drilling program include Etete (an offset to the Etom-2 discovery) and further appraisal of the Ngamia and Amosing fields to target un-drilled flanks, with an aim of extending the size of these existing discoveries. In addition, the Joint Venture are undertaking an extensive water injection test program which commenced in the fourth quarter of 2016 to collect data to optimize the field development plans. Africa Oil holds a 25% interest in Blocks 10BB and 13T. In addition to progressing the full field development work in Kenya, an Early Oil Pilot Scheme (EOPS) transporting oil from South Lokichar to Mombasa, utilizing road, has been approved by the Joint Venture Partners. This will provide technical and non-technical information that will assist in full field development planning. The EOPS would utilize existing upstream wells and oil storage tanks to initially produce 2,000 bopd around mid-2017, subject to agreement with National and County governments. The Company has completed the following significant operational activities during 2016 and to date in 2017: Operating expenses decreased $67.2 million during the fourth quarter of 2016 compared to the fourth quarter in 2015. The Company recognized an impairment relating to the Company's intangible exploration assets in Ethiopia of $6.5 million during the fourth quarter of 2016 compared to $70.7 during the same period in 2015. In addition, as part of the Company's decision to withdraw from Block 12A (Kenya), the Company wrote off $2.0 million in intangible exploration assets relating to the block. Salaries and benefits decreased due to reduced discretionary bonuses during the fourth quarter of 2016 as well as the foreign exchange benefits of Canadian denominated salaries for Canadian staff. Equity-based compensation decreased $0.6 million due to a decrease in stock-based compensation of $1.1 million which was a result of issuing less stock options to eligible plan participants in 2016 than in 2015 (Q4 2016 - 1.6 million, Q4 2015 - 2.4 million). This decrease was offset by $0.5 million of equity based compensation expenses associated with PSUs and RSUs. One-third of the fair value of the stock options is expensed immediately upon grant, the remaining expense is expected to decrease over the remaining vesting period. PSUs and RSUs were issued as part of the new LTIP which commenced during the first quarter of 2016. Professional fees decreased by $1.2 million relating to the Company entering into the Maersk farmout agreement during the fourth quarter of 2015. The Company made a donation for $0.3 million to the Lundin Foundation during the fourth quarter of 2016 compared to $1.0 million during the same period in 2015. Operating expenses decreased $66.8 million during the year ended December 31, 2016 compared to the year ended December 31, 2015. The Company recognized an impairment relating to the Company's intangible exploration assets in Ethiopia of $6.5 million during the fourth quarter of 2016 compared to $70.7 during the same period in 2015. In addition, as part of the Company's decision to withdraw from Block 12A (Kenya), the Company wrote off $2.0 million in intangible exploration assets relating to the block. Salaries and benefits decreased due to reduced discretionary bonuses during 2016 compared to 2015 as well as the foreign exchange benefits of Canadian denominated salaries for Canadian staff. Equity-based compensation decreased by $4.8 million during 2016 which was a result of issuing less stock options to eligible plan participants in 2016 than in 2015 (2016 - 1.6 million, 2015 - 7.8 million). This decrease was offset by $1.4 million of equity based compensation expenses associated with PSUs and RSUs. One-third of the fair value of the stock options is expensed immediately upon grant; the remaining expense is expected to decrease over the remaining vesting period. Stock exchange and filling fees decreased by $1.0 million due fees associated with multiple equity financings completed during 2015 (no equity financings in 2016). A non-cash gain of $4.2 million was recognized during 2015 due to the Company's investment in Africa Energy changing from a position of control to a position of significant influence. The Company made donations to the Lundin Foundation of $1.3 million during 2016 compared to $2.3 million during 2015. Interest income increased during 2016 as a result of cash proceeds received in the first quarter of the year upon completion of the Maersk farmout. The Company holds the vast majority of its cash on hand in US dollars, the Company's functional currency. Interest Income fluctuates in accordance with cash balances, the currency that the cash is held in, and prevailing market interest rates. Expenditures on intangible exploration assets of $48.6 million were incurred during 2016, which were offset by an impairment charge related to exploration properties that the Company does not intend to continue exploring of $8.5 million as well as a reduction to intangible exploration assets of $439.4 million relating to the completion of the farmout transaction with Maersk. The Company is debt free. Cash inflows during 2016 are primarily driven by the receipt of $439.4 million in proceeds relating to the completion of the farmout transaction with Maersk. The following table breaks down the material components of intangible exploration expenditures for the years ended December 31, 2016 and 2015: The Company incurred $46.6 million of intangible exploration expenditures in Kenya for the year ended December 31, 2016. Drilling and completion expenditures primarily relate to the Cheptuket-1 exploration well in Block 12A, the water injection testing performed on the Amosing-3 appraisal well in Block 10BB, the drilling of Erut-1 in Block 13T, as well as costs associated with demobilizing and remobilizing the PR Marriott 46 Rig and associated services. Drilling costs continue to be incurred in association with the recommencement of the exploration and appraisal drilling program in the South Lokichar Basin. Development study expenditures are associated with studies aimed at progressing towards project sanction for the South Lokichar Basin. Exploration studies costs continue to be incurred in Kenya in conjunction with exploration and appraisal drilling campaign which recommenced in Q4 2016. The Company incurred $1.9 million of intangible exploration expenditures in Ethiopia for the year ended December 31, 2016, which consists of license fees and general and administrative costs. The Company's consolidated financial statements, notes to the financial statements, management's discussion and analysis for the years ended December 31, 2016 and 2015, and the 2016 Annual Information Form have been filed on SEDAR (www.sedar.com) and are available on the Company's website (www.africaoilcorp.com). In light of the current and forecast short to mid-term oil price environment, the Company has worked closely with its joint venture partners to focus efforts on advancing the South Lokichar Basin development in Blocks 10BB and 13T (Kenya) by undertaking activities aimed at increasing resource certainty and progressing development studies and planning. We are pleased that Maersk have acquired a 25% interest in the project given the vast financial and technical capabilities they bring to the joint venture and related development activities. A draft South Lokichar Field Development Plan was submitted to the Government of Kenya in December 2015 and will assist discussions as we progress towards a potential final investment decision. Preparation for FEED is under way. Scoping studies and terms of reference for the detailed upstream environmental and social impact assessments have been submitted to the regulatory authorities in Kenya. The Kenya Joint Venture Partners have signed an MoU with the Government of Kenya which confirms the intent of the parties to jointly progress the development of a Kenya crude oil pipeline which will run from South Lokichar to the port of Lamu. The pipeline Joint Development Agreement is currently in the final stages of negotiation and sets out a structure for the Government of Kenya and the South Lokichar joint venture partners to progress the development of the export pipeline. This agreement will ultimately enable important studies to commence such as FEED, ESIA, as well as studies on pipeline financing and ownership. The vast resource potential of the South Lokichar Basin has been highlighted by our recent independent assessment of contingent resources. We are pleased to have recommenced drilling activities in the South Lokihar Basin during the fourth quarter of 2016 with the first well, Erut-1, resulting in an additional oil discovery. Following Erut-1, the PR Marriott Rig-46 moved to Block 10BB, where it is currently drilling the Amosing-6 appraisal well. Additional prospects in the drilling program include Etete (an offset to the Etom-2 discovery) and further appraisal of the Ngamia and Amosing fields to target un-drilled volumes, with an aim of extending the size of these existing discoveries. Other activity during the year included water injection trials which were successfully completed on the Amosing discovery in the South Lokichar Basin. Data from the trials shows the viability of water injection for development planning and a similar program of water injection tests on the Ngamia discovery is scheduled to commence later this month. Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya and Ethiopia . The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol "AOI". The information in this release is subject to the disclosure requirements of Africa Oil Corp. under the EU Market Abuse Regulation and the Swedish Securities Market Act. This information was publicly communicated on February 27 2017 at 5:00 p.m. Pacific Time. The Company also announces that the Annual General Meeting of Shareholders will be held on Wednesday, April 19, 2017, at 9:00 a.m. (Vancouver time) at the Suite 2000, 885 West Georgia Street, Vancouver, British Columbia. Certain statements made and information contained herein constitute "forward-looking information" (within the meaning of applicable Canadian securities legislation). Such statements and information (together, "forward looking statements") relate to future events or the Company's future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, statements with respect to estimates of reserves and or resources, future production levels, future capital expenditures and their allocation to exploration and development activities, future drilling and other exploration and development activities, ultimate recovery of reserves or resources and dates by which certain areas will be explored, developed or reach expected operating capacity, that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven and probable reserves and resource estimates may also be deemed to constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the reserves and resources can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect, "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The Company does not intend, and does not assume any obligation, to update these forward- looking statements, except as required by applicable laws. These forward-looking statements involve risks and uncertainties relating to, among other things, changes in oil prices, results of exploration and development activities, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government or other regulatory approvals, actual performance of facilities, availability of financing on reasonable terms, availability of third party service providers, equipment and processes relative to specifications and expectations and unanticipated environmental impacts on operations. Actual results may differ materially from those expressed or implied by such forward-looking statements. ON BEHALF OF THE BOARD


News Article | February 28, 2017
Site: globenewswire.com

February 27, 2017 (AOI–TSX, AOI–Nasdaq-Stockholm) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce its financial and operating results for the three months and year ended December 31, 2016. At December 31, 2016, the Company had cash of $463.1 million and working capital of $435.0 million. The Company’s liquidity and capital resource position improved dramatically during 2016 with the receipt of $439.4 million (inclusive of deposit received prior to 2015 year-end) upon completion of the farmout transaction with Maersk Olie og Gas A/S (“Maersk”) whereby Maersk acquired 50% of the Company’s interests in Blocks 10BB, 13T and 10BA in Kenya and the Rift Basin and South Omo Blocks in Ethiopia. Proceeds received from Maersk include $350.0 million as reimbursement of past costs incurred by the Company prior to the agreed March 31, 2015 effective date and $89.4 million representing Maersk's share of costs incurred between the effective date and closing, including a carry reimbursement of $15.0 million related to exploration expenditures. An additional $75.0 million development carry may be available to the Company upon confirmation of existing resources. Upon Final Investment Decision ("FID"), Maersk will be obligated to carry Africa Oil for an additional amount of up to $405.0 million depending on meeting certain thresholds of resource growth and timing of first oil. During the fourth quarter of 2016, Tullow Oil, Maersk, and Africa Oil (the “Joint Venture Partners”) recommenced drilling activities in the South Lokichar oil basin located in Blocks 10BB and 13T in Kenya. One drilling rig is currently active and is undertaking an initial program of four wells and the potential to extend this by a further four wells. The first well in the drilling program, Erut-1 (Block 13T) resulted in a discovery of a gross oil interval of 55 meters with 25 meters of net oil pay at a depth of 700 meters. The overall oil column for the field is between 100 and 125 meters. Potential exists for additional pay but will need to be confirmed by laboratory analysis. The objective of the well was to test a structural trap at the northern limit of the South Lokichar Basin. Fluid samples taken and wireline logging all indicate the presence of oil. Erut-1 successfully shows that oil has migrated to the northern limit of the South Lokichar Basin and has de-risked multiple prospects in this area which will now be considered as part of the Partnership's future exploration and appraisal drilling program.  Following Erut-1, the PR Marriott Rig-46 moved to Block 10BB, where it is currently drilling the Amosing-6 appraisal well. Additional prospects in the drilling program include Etete (an offset to the Etom-2 discovery) and further appraisal of the Ngamia and Amosing fields to target un-drilled flanks, with an aim of extending the size of these existing discoveries. In addition, the Joint Venture are undertaking an extensive water injection test program which commenced in the fourth quarter of 2016 to collect data to optimize the field development plans. Africa Oil holds a 25% interest in Blocks 10BB and 13T. In addition to progressing the full field development work in Kenya, an Early Oil Pilot Scheme (EOPS) transporting oil from South Lokichar to Mombasa, utilizing road, has been approved by the Joint Venture Partners. This will provide technical and non-technical information that will assist in full field development planning. The EOPS would utilize existing upstream wells and oil storage tanks to initially produce 2,000 bopd around mid-2017, subject to agreement with National and County governments. The Company has completed the following significant operational activities during 2016 and to date in 2017: During January 2017, the Company announced that the Erut-1 well in Block 13T, Northern Kenya, discovered a gross oil interval of 55 meters with 25 meters of net oil pay at a depth of 700 meters.  The Joint Venture Partners have signed a Memorandum of Understanding with the Government of Kenya which confirms the intent of the parties to jointly progress the development of a Kenya crude oil pipeline from South Lokichar to the port of Lamu on the Kenyan Coast. The pipeline Joint Development Agreement is currently in the final stages of negotiation and sets out a structure for the Government of Kenya and the South Lokichar Joint Venture Partners to progress the development of the export pipeline. This agreement will ultimately enable important studies to commence such as FEED, ESIA, as well as studies on pipeline financing and ownership. On May 10, 2016, the Company announced details of an updated independent assessment of the Company’s contingent resources in the South Lokichar Basin in Blocks 10BB and 13T (Kenya).  The estimated gross 2C unrisked resources in the South Lokichar Basin, Kenya have increased by 150 million barrels (or 24%) since they were previously assessed during 2014 to 766 million barrels of oil (Development Pending: 754 million barrels and Development Unclarified: 12 million barrels). The Joint Venture Partners received a three-year extension to the Second Additional Exploration Period (expiring 18 September 2020) on Blocks 10BB and 13T. A draft field development plan for the discoveries in the South Lokichar Basin was submitted in December 2015 to the Kenyan authorities. Further refinement of the field development plan and engagement with the Government of Kenya is ongoing.  During the first quarter of 2016, the Cheptuket-1 well (Block 12A) completed drilling to a depth of 3,083 meters. The well encountered oil shows, seen in cuttings and rotary sidewall cores, across a large interval of over 700 meters. Cheptuket-1 is the first well to test the Kerio Valley Basin. While shows were encouraging, upon further technical and commercial review, the Company elected to withdraw from the block during the first quarter of 2017.  During the fourth quarter of 2016, the Company elected to relinquish its 15% working interest in the South Omo Block (Ethiopia) at the end of the exploration period. Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya and Ethiopia. The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol "AOI". The information in this release is subject to the disclosure requirements of Africa Oil Corp. under the EU Market Abuse Regulation and the Swedish Securities Market Act. This information was publicly communicated on February 27 2017 at 5:00 p.m. Pacific Time. The Company also announces that the Annual General Meeting of Shareholders will be held on Wednesday, April 19, 2017, at 9:00 a.m. (Vancouver time) at the Suite 2000, 885 West Georgia Street, Vancouver, British Columbia. Certain statements made and information contained herein constitute "forward-looking information" (within the meaning of applicable Canadian securities legislation). Such statements and information (together, "forward looking statements") relate to future events or the Company's future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, statements with respect to estimates of reserves and or resources, future production levels, future capital expenditures and their allocation to exploration and development activities, future drilling and other exploration and development activities, ultimate recovery of reserves or resources and dates by which certain areas will be explored, developed or reach expected operating capacity, that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven and probable reserves and resource estimates may also be deemed to constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the reserves and resources can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect, "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. These forward-looking statements involve risks and uncertainties relating to, among other things, changes in oil prices, results of exploration and development activities, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government or other regulatory approvals, actual performance of facilities, availability of financing on reasonable terms, availability of third party service providers, equipment and processes relative to specifications and expectations and unanticipated environmental impacts on operations. Actual results may differ materially from those expressed or implied by such forward-looking statements. ON BEHALF OF THE BOARD For further information, please contact:  Sophia Shane, Corporate Development (604) 689-7842. For the complete news release and report see attached file.


PALO ALTO, Calif.--(BUSINESS WIRE)--Maana, the pioneer of digital knowledge technology, will participate in a speaking session on March 6, at the Gartner Data and Analytics Summit in Grapevine, TX. Maana CEO, Babur Ozden, will join Ibrahim Gokcen, Chief Digital Officer, at Maersk, to discuss how Maersk’s employees use the Maana Knowledge Platform to accelerate digital transformation. Maersk, the global leader in integrated transportation & logistics, is using the Maana Knowledge Platform to power the company’s two-year digital transformation journey. With Maana, Maersk is turning subject matter expertise, and data from across silos, into digital knowledge to help employees make better decisions faster, resulting in greater operational efficiencies. The discussion will provide enterprises with a roadmap for utilizing human expertise along with enterprise data in order to achieve rapid transformation. Who: Maersk Chief Digital Officer, Ibrahim Gokcen; and Maana CEO and Founder, Babur Ozden For more information about Maana visit booth #522 during the Summit. To learn more about Gartner Data and Analytics Summit visit: http://www.gartner.com/events-na/data-analytics/ Maana pioneered “knowledge technology” for the enterprise. The Maana Knowledge Platform turns human expertise and data into digital knowledge for employees to make better decisions faster. Maana’s patented Knowledge Graph™ combined with Maana’s proprietary algorithms, expedite extracting knowledge from data silos, to reveal the relationships in the context of optimizing assets or processes. Customers include Fortune 500 companies such as Chevron, GE, Maersk and Shell. Maana’s investors are comprised of Chevron Technology Ventures, Frost Data Capital, GE Ventures, Intel Capital, Saudi Aramco Energy Ventures, and Shell Technology Ventures. Maana is privately held with offices in Palo Alto, California, Bellevue, Washington and Houston, Texas. Visit us at https://www.maana.io/


News Article | February 16, 2017
Site: www.businesswire.com

PALO ALTO, Calif.--(BUSINESS WIRE)--Maana, the pioneer of enterprise knowledge technology, today announced a partnership with exClone, Inc., to integrate exClone’s intelligent chatbot technology with the Maana Knowledge Platform. Now Maana’s customers can enable experts in their organization to improve the daily decision-making process and speed asset and workflow optimization through a conversational interface. “Chatbots have become one of the pillars of artificial intelligence and have entered the enterprise world to make internal and external communication more accurate, consistent, scalable and cost effective than that of their human counterparts,” said Riza Berkan, CEO and founder, exClone. “We are excited to be a part of this historic transformation where software platforms, like the Maana Knowledge Platform are improving decision flows across the enterprise. Maana’s platform combined with exClone’s chatbot interface can further cultivate human-machine dialog during decision making.” The Maana Knowledge Platform, used by Fortune 500 companies, is uniquely designed to encode human expertise and data into digital knowledge so employees can make better decisions faster. To do so, Maana’s platform allows experts to quickly build hundreds of interconnected models that provide continuous, actionable recommendations into the operations of assets and workflows. To make the decision-making process effective and efficient, the platform’s interface must allow users to interact with the system in the most casual, natural, and untrained manner possible. Chatbots introduce short-term conversational memory that increases precision in providing answers to questions and communicates in more human-like ways. Integrating exClone’s chatbot interface with Maana’s knowledge platform enables experts to quickly extract knowledge from the depths of data silos. “Humanizing the problem-solving process by making it easier for subject-matter experts to understand the interdependencies that stitch the enterprise together is of the utmost importance when optimizing assets and decision flows,” said Donald Thompson, founder and president, Maana. “The combination of Enterprise Knowledge Technology, which brings knowledge and reasoning into the hands of subject-matter experts; and exClone’s intelligent chatbots, which enable experts to interact with digital knowledge using familiar dialogue patterns, will make digital transformation a widespread reality.” exClone, Inc. is a New York City based technology company specialized in expert chatbots that can handle special content, expertise, and persona. The company's proprietary technology, which is centered around the human dialogue theory invented by the founders, is comprised of machine learning and artificial intelligence methods to absorb knowledge, and to turn it into a dialogue system. The process is called the digital cloning of human expertise, hence the name (ex)pert clone, exClone. The company creates chatbots for helpdesk, tech support, sales agents, and for similar online assistants as well as for robotics and industrial machines through its cloning platform without any coding requirement. Maana pioneered “knowledge technology” for the enterprise. The Maana Knowledge Platform turns human expertise and data into digital knowledge for employees to make better decisions–faster. Maana’s patented Knowledge Graph™ combined with Maana’s proprietary algorithms, expedite extracting knowledge from data silos, to reveal the relationships in the context of optimizing assets or processes. Customers include Fortune 500 companies such as Chevron, GE, Maersk and Shell. Maana’s investors are comprised of Chevron Technology Ventures, Frost Data Capital, GE Ventures, Intel Capital, Saudi Aramco Energy Ventures, and Shell Technology Ventures. Maana is privately held with offices in Palo Alto, California, Bellevue, Washington and Houston, Texas. Visit us at https://www.maana.io/


News Article | February 23, 2017
Site: www.businesswire.com

PALO ALTO, Calif.--(BUSINESS WIRE)--Maana, the pioneer of digital knowledge technology, today announced it has been named as an Energy Innovation Pioneer for the upcoming CERAWeek by IHS Markit, the world’s preeminent energy conference gathering energy industry leaders and experts; government officials and policymakers; leaders from the technology, financial, and industrial communities; and, energy technology innovators. Maana’s Knowledge Platform™ is used by the largest industrial companies in the world to accelerate digital transformation. “From a field of over 500 technology startups working on innovative solutions across the energy spectrum, Maana was one of eight companies we selected for this year’s class of Energy Innovation Pioneers,” said Carolyn Seto, program director and co-chair of the CERAWeek Energy Innovation Pioneers program. “They caught our eye on two accounts: the pioneering knowledge graph technology upon which the Maana Knowledge Platform is built is at the forefront of advanced analytics, machine learning and artificial intelligence; and, the capabilities that their technology imparts to organizations—such as the ability to quickly illuminate complex relationships and solve major challenges facing their business.” CERAWeek lists eight annual Energy Innovation Pioneers it believes to be “leading companies and entrepreneurs developing technologies and business models transforming the energy future.” IHS Markit selected this year’s class of startups as promising energy technology developers after carefully reviewing their creativity, business plan feasibility, technology scalability and leadership team quality. This year’s companies represent early-stage companies that have demonstrated an ability to deliver value across the entire energy spectrum. “Maana is honored to be named an Energy Innovation Pioneer,” said Babur Ozden, founder and CEO, Maana. “IHS Markit delivers critical information, analytics and solutions to organizations to improve their operational efficiency and provide insights that lead to well-informed decision making. Maana’s philosophy closely aligns with IHS Markit’s, as our technology is built to emphasize the human as the key decision maker on operational workflows and asset optimization. We look forward to continuing to help customers drive profitable growth by empowering their employees to make better decisions faster.” Maana pioneered “knowledge technology” for the enterprise. The Maana Knowledge Platform turns human expertise and data into digital knowledge for employees to make better decisions faster. Maana’s patented Knowledge Graph™ combined with Maana’s proprietary algorithms, expedites extracting knowledge from data silos, to reveal the relationships in the context of optimizing assets or processes. Customers include Fortune 500 companies such as Chevron, GE, Maersk and Shell. Maana’s investors are comprised of Chevron Technology Ventures, Frost Data Capital, GE Ventures, Intel Capital, Saudi Aramco Energy Ventures, and Shell Technology Ventures. Maana is privately held with offices in Palo Alto, California, Bellevue, Washington and Houston, Texas. Visit us at https://www.maana.io/


PALO ALTO, Calif.--(BUSINESS WIRE)--Maana, the pioneer of digital knowledge technology, will be featured in a Pioneer panel discussion, presentation and live demonstration at CERAWeek in Houston from March 6-10. CERAWeek’s annual conference brings together world leaders from the technology, financial and industrial communities to discuss the oil and gas industry’s biggest challenges. Maana will discuss how technologies, like the Maana Knowledge Platform, are transforming the oil and gas industry, and demonstrate high-value use cases. Maana was also recently named a CERAWeek Energy Technology Pioneer. The Energy Technology Pioneers program is held annually in conjunction with CERAWeek. Each year, the Pioneers program selects the most innovative new technologies affecting the energy spectrum. These technologies include distributed generation, energy storage, robotics and transformation, Internet of Things and advanced analytics. Maana will participate in the following conference sessions set to take place at the Hilton Americas in Houston: Wednesday, March 8, 7:30 - 8:40 a.m. CST — Energy Innovation Pioneers Panel Discussion: “Leveraging startups to meet the challenges of the new energy landscape” Babur Ozden, CEO of Maana will join other Pioneers to discuss strategies for the oil and gas industry as they face new challenges. Wednesday, March 8, 11:00 a.m. CST— Pioneer Showcase Presentation with Maana CEO and Founder Babur Ozden Ozden will discuss how Fortune 500 companies, including customers Chevron, GE, Maersk and Shell, are using the Maana Knowledge Platform to optimize decision making across workflows and improve profits, enabling rapid digital transformation. Maana will demonstrate how its Knowledge Platform accelerates digital transformation by turning human expertise and data from across silos into digital knowledge for employees to make better decisions faster. To learn more about CERAWeek visit: https://ceraweek.com/. Maana pioneered “knowledge technology” for the enterprise. The Maana Knowledge Platform turns human expertise and data into digital knowledge for employees to make better decisions faster. Maana’s patented Knowledge Graph™ combined with Maana’s proprietary algorithms, expedite extracting knowledge from data silos, to reveal the relationships in the context of optimizing assets or processes. Customers include Fortune 500 companies such as Chevron, GE, Maersk and Shell. Maana’s investors are comprised of Chevron Technology Ventures, Frost Data Capital, GE Ventures, Intel Capital, Saudi Aramco Energy Ventures, and Shell Technology Ventures. Maana is privately held with offices in Palo Alto, California, Bellevue, Washington and Houston, Texas. Visit us at https://www.maana.io/


CHENGDU, China, Feb. 22, 2017 /PRNewswire/ -- Skymoons Digital Entertainment, a Tianfu Software Park-based game company in Chengdu, has launched a studio in Edinburgh, Scotland. On February 9, the BBC's website published an article titled "Chinese 'first' for Scottish games industry" to report this event. According to the report, Skymoons is the first Chinese game company to enter the Scottish games industry. Skymoons is a mobile game developer and operator devoted to independent R&D, agent publication, investment, and incubation. All its core members are top talents who have worked at Baidu, Shanda, Sohu Changyou, Tencent, 4399 and other first-line game companies in China. Its abilities in independent R&D, publication, and operation are recognized by the industry. A National Science and Technology Business Incubator, National Maker Space, National Business Incubator Demonstration Base, and National Public Service Demonstration Platform for Small and Medium Enterprises, Tianfu Software Park has formed several industrial clusters including software service outsourcing, software products R&D, communication technology, digital entertainment, mobile Internet, and shared service centers. It is an important choice for well-known software and information services enterprises at home and abroad. So far it has attracted more than 600 well-known enterprises, including IBM, SAP, EMC and Maersk, as well as 34 Fortune 500 companies to settle down, with a total of more than 60,000 staff members in this park. Not only have many leading enterprises and mobile applications been successfully hatched here, such as Tap4Fun, Camera 360, Codoon, LionMobi and XGIMI, but there are also a number of mobile games products with monthly turnovers of over US$10 million such as the Galactic Empire, King's Empire, Spartan War and Huaqiangu. With over 90% of its revenue coming from outside China, Tap4Fun had a studio in Paris as early as 2014. Camera 360 has been ranking among the top in a number of overseas market applications for many years and was listed among the Best Apps of 2016 by Google Play. LionMobi, Eptonic, Tap4Fun, Digital Sky, Qianxing Technology and other enterprises in Tianfu Software Park also have a wide range of businesses globally. According to the Mobile Products Overseas Log Report released by Baijing Research Institute, Power Clean of LionMobi ranked among the top ten on the 2016 List of Tools Downloaded Overseas. Both Camera 360 of Pingguo Technology and Invasion (online war game) of Tap4Fun ranked among the top ten on the 2016 List of Entertainment Apps Downloaded Overseas, with the former even reaching #1. In June 2016, many enterprises at Tianfu Software Park had participated in the Electronic Entertainment Expo held in New York, including Zhangyue, 360joy, TapEnjoy, and VR Dreams. Among them, VR Dreams attracted a lot of attention as the only representative of China's VR enterprises. As more and more enterprises in the park begin to expand into overseas markets, Tianfu Software Park, a gathering place for dreamers, will attract the increasing attention of the world. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/skymoons-digital-entertainment----the-first-chinese-company-to-enter-the-scottish-games-industry-300410578.html

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