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Pan Orient Energy Corp.: 2014 Second Quarter Financial & Operating Results

CALGARY, ALBERTA -- (Marketwired) -- 08/21/14 -- Pan Orient Energy Corp. ("Pan Orient") (TSX VENTURE:POE) is providing its 2014 second quarter consolidated financial and operating results. Please note that all amounts are in Canadian dollars unless otherwise stated and BOPD refers to barrels of oil per day net to Pan Orient.

The Corporation is today filing its unaudited consolidated financial statements as at and for the six months ended June 30, 2014 and related management's discussion and analysis with Canadian securities regulatory authorities. Copies of these documents may be obtained online at www.sedar.com or the Corporation's website, www.panorient.ca.

Highlights


--  Government of Thailand environmental approval received on August 8th for
    six drilling locations in Concession L53, including the L53A-North
    prospect.  
--  Purchased high quality 3D seismic over the Selong-Akatara oil and gas
    discoveries made by another operator directly adjacent to our acreage at
    the Batu Gajah Production Sharing Contract ("PSC") continues to indicate
    the likelihood of an extension of these structures into Pan Orient's
    acreage. 
--  Significant progress made in the farm-out efforts of the East Jabung and
    Batu Gajah PSCs onshore Sumatra, Indonesia. 
--  Steam injection commenced at the Sawn Lake, Canada, steam assisted
    gravity drainage ("SAGD") demonstration project on May 21, 2014 and
    first bitumen production is anticipated in September 2014. 

2014 SECOND QUARTER OPERATING RESULTS


--  For the second quarter of 2014, the Company recorded total corporate
    funds flow from operations of $4.6 million ($0.08 per share) and a net
    loss attributable to common shareholders of $0.1 million ($0.01 loss per
    share). For the first six months of 2014, corporate funds flow from
    operations was $9.0 million ($0.16 per share) and a net loss
    attributable to common shareholders of $0.3 million ($0.01 loss per
    share). 
--  At June 30, 2014 Pan Orient had $43.8 million of working capital and
    non-current deposits, and no long-term debt. In addition, Pan Orient had
    $7.5 million of equipment inventory to be utilized for future Thailand
    and Indonesia operations which is included in exploration and evaluation
    assets in the consolidated statement of financial position. Working
    capital and non-current deposits were comprised of $27.2 million cash,
    $2.5 million of non-current deposits, $12.9 million of Canadian taxes
    receivable and other receivables of $7.0 million and less payables of
    $5.8 million. 
--  Capital expenditures were $4.2 million for the second quarter of 2014
    and included $2.6 million in Canada associated with the Sawn Lake SAGD
    demonstration project of Andora Energy Corporation ("Andora"), which is
    owned 71.8% by Pan Orient and consolidated with Pan Orient for reporting
    purposes, $0.9 million in Thailand and $0.7 million in Indonesia. During
    the first six months of 2014, capital expenditures were $15.2 million
    with expenditures of $6.7 million in Canada associated with the Sawn
    Lake SAGD demonstration project, $3.4 million in Thailand for drilling
    the L53A Central well, workovers, other exploration costs and inventory,
    and $5.0 million in Indonesia for completion of seismic programs and
    other exploration costs.  
--  Capital expenditures for the first half of 2014 were funded by $9.0
    million of funds flow from operations, $2.7 million from a joint venture
    partner repurchasing a gross overriding royalty interest at Sawn Lake as
    part of an overall agreement entered into in 2013 for the advancement of
    the Sawn Lake demonstration project and the remaining $3.5 million
    through existing working capital. 
--  At June 30, 2014 Pan Orient had outstanding capital commitments of $0.1
    million in Thailand associated with Concession L53, $8.7 million in
    Indonesia associated with the East Jabung PSC, and $0.4 million in
    Canada for natural gas pipeline tie-in and tariff charges associated
    with the Sawn Lake SAGD demonstration project of Andora. 
--  Thailand 
    --  In the second quarter of 2014 Concession L53 average oil sales
        increased 8% to 769 BOPD and generated $5.4 million in after tax
        funds flow from operations, or $77.45 per barrel. This compares with
        oil sales in the first quarter of 2014 of 712 BOPD and $5.0 million
        in after tax funds flow from operations, or $77.69 per barrel. Oil
        sales increased 8% during the second quarter of 2014 primarily due
        to flush production from successfully perforating a new zone at the
        L53-D2ST3 well in May 2014. 
    --  On a per barrel basis, after tax funds flow from operations of
        $77.45 in the second quarter of 2014 was consistent with the first
        quarter of 2014 and resulted from oil sales of $104.05,
        transportation expenses of $1.66, operating expenses of $12.63,
        general and administrative expenses of $7.28 and a royalty to the
        Thailand government of $5.20, and there was interest income
        equivalent to $0.17. Oil revenue during the first half 2014 was
        allocated 21% to expenses for transportation, operating, and general
        & administrative, 5% to the government of Thailand for royalties,
        and 74% to Pan Orient.  
    --  No wells were drilled in the second quarter of 2014 as the Company
        waited for EIA approval for several locations, including the L53A-
        North prospect in the northeastern portion of Concession L53 which
        is part of the planned three well drilling program for the remainder
        of 2014. The L53-A Central exploration well drilled during the first
        quarter of 2014 failed to encounter commercial hydrocarbons and was
        abandoned. 
    --  Capital expenditures during the second quarter of 2014 at Concession
        L53 were $0.9 million in Thailand primarily for workovers, final
        drilling costs for the L53-A Central exploration well and equipment
        inventory. For the first half of 2014 capital expenditures at
        Concession L53 have been $3.4 million for drilling the L53A Central
        well, workovers, equipment inventory and other exploration costs and
        inventory.  
    --  The Company elected not to continue exploration actives at
        Concession L45 and the concession expired on April 27, 2014. 
--  Indonesia 
    --  Capital expenditures in Indonesia were $5.0 million during the first
        half of 2014, with $4.3 million in the first quarter and $0.7
        million in the second quarter. On a year to date basis, there have
        been capital expenditures of $4.5 million at the East Jabung PSC
        related primarily to completing the 440 kilometer 2D seismic
        program, $0.4 million at the Batu Gajah PSC related to capitalized
        general and administrative expenses, and $0.1 million for equipment
        inventory.  
--  Canada 
    --  Capital expenditures for the Sawn Lake SAGD demonstration project
        were $6.7 million during the first half of 2014, with $4.1 million
        in the first quarter and $2.6 million in the second quarter. These
        expenditures related to construction of the SAGD facility for steam
        generation, water handling and oil treating, and for final
        installation of the water source and disposal facilities.  

OUTLOOK


--  Thailand 
    --  On August 8, 2014 Environmental Impact Assessment ("EIA") approval
        was received for six exploration drilling locations with four
        individual well cellars each. Production EIA approval was also part
        of all six location applications, allowing for accelerated long term
        production in the event of success.  
    --  The L53A-North location was one of the six locations approved with
        well construction to commence in approximately seven days and be
        completed in approximately seven weeks allowing for rain delays
        during the current early monsoon period. A number of steps have been
        taken to mitigate the impact of the monsoon rains on construction
        including covered storage of earth fill and construction of a berm
        around the well pad perimeter. 
    --  The Company currently plans to drill one appraisal well at each of
        the L53-D East field and the L53-B prospect prior to drilling of the
        L53A-North exploration well. The L53-D East location will be
        targeting an undrilled fault compartment and the L53-B location will
        be targeting numerous sands 20 to 25 meters up structure from the
        original L53-B well that was drilled in 2011 and produced small
        quantities of oil from two sandstone intervals prior to being shut-
        in. No reserves were attributed to the targets in either of these
        appraisal wells in the 2013 year end reserves report. 
    --  Drilling of the first well of the three well drilling program is
        anticipated to commence at the end of September with each well
        taking 10 to 14 days to completion. 
    --  Production is currently 583 BOPD and averaged 657 BOPD in July and
        610 BOPD over the past 30 days. Oil production levels have been
        impacted by the rescheduling of the drilling program due to the
        delay in receiving EIA approvals. 
--  Indonesia 
    --  East Jabung PSC Onshore Sumatra (Pan Orient operator and 100%
        ownership) 
        --  As disclosed on May 28th, Pan Orient has received a number of
            proposals from potential farminees with regard to obtain of an
            up to 50% working interest in East Jabung PSC. The Company has
            accepted a non-binding proposal and is currently facilitating
            legal and financial due diligence on an exclusive basis while
            working towards binding farm-in and joint operating agreements.
            These agreements, if concluded successfully, are anticipated to
            be completed in September. 
    --  Batu Gajah PSC Onshore Sumatra (Pan Orient operator and 77%
        ownership) 
        --  The Company is currently in negotiations on a non-exclusive
            basis regarding the potential farm-out of an up to 40% working
            interest in the Batu Gajah PSC. 
        --  In the past three weeks approximately 120 square kilometers of
            3D seismic data covering a large portion of the Akatara-Selong
            oil and gas discovery area made by another operator directly
            adjacent to our acreage at the Batu Gajah PSC has been purchased
            after being only recently made available by the Indonesian
            Government technical data administrator. The preliminary results
            of the interpretation of this high quality 3D seismic data
            continues to indicate the Company's view that the Selong oil
            discovery extends into Pan Orient's adjacent Batu Gajah PSC
            acreage. On the basis of this newly available seismic data, the
            Company has selected three drilling locations for which Forestry
            Ministry approval will be sought. It is estimated this approval
            process will take approximately four months and could be
            followed by drilling in mid-2015. 
    --  Citarum PSC Onshore Java (Pan Orient operator and 97% ownership) 
        --  Pan Orient continues to operate a data room for potential farmin
            parties and is seeking a 50% partner. This process continues to
            proceed. 
--  Canada - Sawn Lake (operated by Andora, in which Pan Orient has a 71.8%
    ownership interest) 
    --  Andora has a 50% working interest in the Sawn Lake SAGD
        demonstration project, and is the operator. The first step towards
        determining the commercial viability of the SAGD recovery process at
        Sawn Lake is for the demonstration project to provide an indication
        of the productivity of the reservoir and the amount of steam
        injection required to produce the bitumen, which are key components
        in assessing the potential for SAGD development at Sawn Lake. 
    --  For Phase 1 of the SAGD demonstration project, one SAGD well pair
        was drilled in the fourth quarter of 2013 to a depth of 650 meters
        and has a horizontal length of 780 meters. Construction of the SAGD
        facility for steam generation, water handling and oil treating was
        completed in 2014.  
    --  Steam injection at the Sawn Lake SAGD demonstration project
        commenced on May 21, 2014. Steam has been injected into both the
        SAGD injector well and the SAGD production well for approximately
        three months. These wells are being monitored to determine the
        timing for recompleting the SAGD production well for production. It
        is expected that bitumen production will commence in early September
        2014. 

Pan Orient is a Calgary, Alberta based oil and gas exploration and production company with operations currently located onshore Thailand, Indonesia and in Western Canada.

This news release contains forward-looking information. Forward-looking information is generally identifiable by the terminology used, such as "expect", "believe", "estimate", "should", "anticipate" and "potential" or other similar wording. Forward-looking information in this news release includes, but is not limited to, references to: well drilling programs and drilling plans, estimates of reserves and potentially recoverable resources, information on future production and project start-ups and the status and likelihood of farmout negotiations and agreements. By their very nature, the forward-looking statements contained in this news release require Pan Orient and its management to make assumptions that may not materialize or that may not be accurate. The forward-looking information contained in this news release is subject to known and unknown risks and uncertainties and other factors, which could cause actual results, expectations, achievements or performance to differ materially, including without limitation: imprecision of reserve estimates and estimates of recoverable quantities of oil, changes in project schedules, operating and reservoir performance, the effects of weather and climate change, the results of exploration and development drilling and related activities, demand for oil and gas, commercial negotiations, other technical and economic factors or revisions and other factors, many of which are beyond the control of Pan Orient. Although Pan Orient believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


                          --------------------------------------------------
Financial and Operating   Three Months Ended   Six Months Ended             
 Summary                        June 30,            June 30,                
(thousands of Canadian                                                      
 dollars except where                                                       
 indicated)                    2014      2013      2014      2013    Change 
----------------------------------------------------------------------------
FINANCIAL                                                                   
----------------------------------------------------------------------------
Oil revenue, before                                                         
 royalties and                                                              
 transportation expense       7,285     8,475    14,035    15,919       -12%
Funds flow from operations                                                  
 (Note 1)                     4,600     6,537     8,967    12,201       -27%
  Per share - basic and                                                     
   diluted                   $ 0.08    $ 0.11    $ 0.16    $ 0.21       -25%
Funds flow from (used in)                                                   
 operations by region                                                       
 (Note 1)                                                                   
  Canada                       (609)      (65)     (509)     (188)      171%
  Thailand                    5,423     6,632    10,404    12,492       -17%
  Indonesia                    (214)      (30)     (928)     (103)      801%
                          --------------------------------------------------
  Total                       4,600     6,537     8,967    12,201       -27%
                          --------------------------------------------------
                          --------------------------------------------------
Net loss attributed to                                                      
 common shareholders           (147)  (97,677)     (332)  (97,336)     -100%
  Per share - basic and                                                     
   diluted                  $ (0.01)  $ (1.73)  $ (0.01)  $ (1.72)     -100%
Working capital              41,291    52,091    41,291    52,091       -21%
Working capital & non-                                                      
 current deposits            43,789    54,345    43,789    54,345       -19%
Long-term debt                    -         -         -         -         0%
Petroleum and natural gas                                                   
 properties                                                                 
  Capital expenditures                                                      
   (Note 2)                   4,182    37,978    15,192    72,487       -79%
  Dispositions (Note 3)           -         -    (2,698)        -       100%
Shares outstanding                                                          
 (thousands)                 56,760    56,760    56,760    56,760         0%
----------------------------------------------------------------------------
Funds Flow from (used in)                                                   
 Operations per Barrel                                                      
 (Note 1)                                                                   
----------------------------------------------------------------------------
  Canada operations         $ (8.70)  $ (0.75)  $ (3.79)  $ (1.17)      224%
  Thailand operations         77.45     76.27     77.56     77.78         0%
  Indonesia operations        (3.05)    (0.35)    (6.92)    (0.64)      980%
                          --------------------------------------------------
                            $ 65.70   $ 75.17   $ 66.85   $ 75.97       -12%
----------------------------------------------------------------------------
Capital Expenditures (Note                                                  
 2)                                                                         
----------------------------------------------------------------------------
  Canada                      2,576     2,268     6,722     4,492        50%
  Thailand                      879    19,145     3,433    32,938       -90%
  Indonesia                     727    16,565     5,037    35,057       -86%
                          --------------------------------------------------
  Total                       4,182    37,978    15,192    72,487       -79%
----------------------------------------------------------------------------
Working Capital and Non-                                                    
 current Deposits                                                           
----------------------------------------------------------------------------
Beginning of period          44,040    87,442    47,889   116,376       -59%
  Funds flow from                                                           
   operations (Note 1)        4,600     6,537     8,967    12,201       -27%
  Proceeds from 2012 sale                                                   
   of Thailand interests        174         -       174         -       100%
  Capital expenditures                                                      
   (Note 2)                  (4,182)  (37,978)  (15,192)  (72,487)      -79%
  Disposal of petroleum                                                     
   and natural gas assets                                                   
   (Note 3)                       -         -     2,698         -       100%
  Settlement of                                                             
   decommissioning                                                          
   liabilities                  (98)        -       (98)        -       100%
  Recovery of 2012 taxes          -     1,785         -     1,785      -100%
  Accrued relinquishment                                                    
   costs                          -    (2,778)        -    (2,778)     -100%
  Foreign exchange impact                                                   
   on working capital          (745)     (663)     (649)     (882)      -26%
  Net proceeds on share                                                     
   transactions                   -         -         -       130      -100%
                          --------------------------------------------------
End of period                43,789    54,345    43,789    54,345       -19%
----------------------------------------------------------------------------
Canada Operations                                                           
----------------------------------------------------------------------------
Interest income                  61       190       149       495       -70%
General and administrative                                                  
 expense (Note 4)              (679)     (411)   (1,226)     (841)       46%
Current income tax                                                          
 recovery                         -        70         -       152      -100%
Realized foreign exchange                                                   
 gain                             9        86       568         6           
                          --------------------------------------------------
Funds flow used in                                                          
 operations (Note 1)           (609)      (65)     (509)     (188)      171%
                          --------------------------------------------------
                          --------------------------------------------------
Funds flow used in                                                          
 operations per barrel                                                      
  Interest income            $ 0.87    $ 2.19    $ 1.11    $ 3.08       -64%
  General and                                                               
   administrative expense                                                   
   (Note 4)                   (9.70)    (4.74)    (9.14)    (5.24)       74%
  Current income tax                                                        
   recovery                       -      0.81         -      0.95      -100%
  Realized foreign                                                          
   exchange gain               0.13      0.99      4.24      0.04           
                          --------------------------------------------------
  Canada - Funds flow used                                                  
   in operations            $ (8.70)  $ (0.75)  $ (3.79)  $ (1.17)      224%
----------------------------------------------------------------------------


                                                                            
                          --------------------------------------------------
                          Three Months Ended   Six Months Ended             
                                June 30,            June 30,                
(thousands of Canadian                                                      
 dollars except where                                                       
 indicated)                    2014      2013      2014      2013    Change 
----------------------------------------------------------------------------
Thailand Operations                                                         
----------------------------------------------------------------------------
Oil sales (bbls)             70,016    86,949   134,133   160,615       -16%
Average daily oil sales                                                     
 (BOPD) by Concession L53       769       955       741       887       -16%
Average oil sales price,                                                    
 before transportation                                                      
 (CDN$/bbl)                $ 104.05   $ 97.47  $ 104.63   $ 99.11         6%
Reference Price (volume                                                     
 weighted) and                                                              
 differential                                                               
  Crude oil (Brent                                                          
   $US/bbl)                $ 109.79  $ 102.59  $ 108.96  $ 112.17        -3%
  Exchange Rate $US/$Cdn       1.10      1.01      1.11      1.02         9%
  Crude oil (Brent                                                          
   $Cdn/bbl)               $ 120.92  $ 103.13  $ 120.93  $ 114.23         6%
  Sale price / Brent                                                        
   reference price               86%       95%       87%       87%       -1%
Funds flow from operations                                                  
 (Note 1)                                                                   
  Crude oil sales             7,285     8,475    14,035    15,919       -12%
  Government royalty           (364)     (425)     (693)     (784)      -12%
  Transportation expense       (116)     (141)     (220)     (252)      -13%
  Operating expense            (884)     (911)   (1,922)   (1,663)       16%
                          --------------------------------------------------
  Field netback               5,921     6,998    11,200    13,220       -15%
  General and                                                               
   administrative expense                                                   
   (Note 4)                    (510)     (388)     (809)     (752)        8%
  Interest income                12        22        14        25       -44%
  Current income tax              -         -        (1)       (1)        0%
                          --------------------------------------------------
  Funds flow from                                                           
   operations                 5,423     6,632    10,404    12,492       -17%
                          --------------------------------------------------
                          --------------------------------------------------
Funds flow from operations                                                  
 / barrel (CDN$/bbl) (Note                                                  
 1)                                                                         
  Crude oil sales          $ 104.05   $ 97.47  $ 104.63   $ 99.11         6%
  Government royalty          (5.20)    (4.89)    (5.17)    (4.88)        6%
  Transportation expense      (1.66)    (1.62)    (1.64)    (1.57)        4%
  Operating expense          (12.63)   (10.48)   (14.33)   (10.35)       38%
                          --------------------------------------------------
  Field netback               84.56     80.48     83.49     82.31         1%
  General and                                                               
   administrative expense                                                   
   (Note 4)                   (7.28)    (4.46)    (6.02)    (4.68)       29%
  Interest Income              0.17      0.25      0.10      0.16       -38%
  Current income tax              -         -     (0.01)    (0.01)        0%
                          --------------------------------------------------
  Thailand - Funds flow                                                     
   from operations          $ 77.45   $ 76.27   $ 77.56   $ 77.78         0%
                          --------------------------------------------------
                          --------------------------------------------------
Government royalty as                                                       
 percentage of crude oil                                                    
 sales                            5%        5%        5%        5%        0%
SRB as percentage of crude                                                  
 oil sales                        0%        0%        0%        0%        0%
Income tax as percentage                                                    
 of crude oil sales               0%        0%        0%        0%        0%
As percentage of crude oil                                                  
 sales                                                                      
  Expenses -                                                                
   transportation,                                                          
   operating, G&A and                                                       
   other                         21%       17%       21%       17%       26%
  Government royalty, SRB                                                   
   and income tax                 5%        5%        5%        5%        0%
  Funds flow from                                                           
   operations, before                                                       
   interest income               74%       78%       74%       78%       -5%
Wells drilled                                                               
  Gross                           -         6         1        12       -92%
  Net                             -       6.0       1.0      12.0       -92%
----------------------------------------------------------------------------
Indonesia Operations                                                        
----------------------------------------------------------------------------
General and administrative                                                  
 expense (Note 4)              (255)      (47)     (552)     (122)      352%
Exploration expense (Note                                                   
 5)                              15         -      (294)        -       100%
Realized foreign exchange                                                   
 gain (loss)                     26        17       (82)       19      -532%
                          --------------------------------------------------
  Indonesia - Funds flow                                                    
   used in operations          (214)      (30)     (928)     (103)      801%
                          --------------------------------------------------
                          --------------------------------------------------
Wells drilled                                                               
  Gross                           -         1         -         3      -100%
  Net                             -       1.0         -       3.0      -100%
----------------------------------------------------------------------------
(1) Funds flow from operations (cash flow from operating activities prior to
    changes in non-cash working capital, reclamation costs and excluding the
    recovery of prior year income taxes) is used by management to analyze   
    operating performance and leverage. Funds flow as presented does not    
    have any standardized meaning prescribed by IFRS and therefore it may   
    not be comparable with the calculation of similar measures of other     
    entities. Funds flow is not intended to represent operating cash flow or
    operating profits for the period nor should it be viewed as an          
    alternative to cash flow from operating activities, net earnings or     
    other measures of financial performance calculated in accordance with   
    IFRS.                                                                   
(2) Cost of capital expenditures, excluding decommissioning provision and   
    the impact of changes in foreign exchange rates.                        
(3) Joint venture partners in Andora's Sawn Lake SAGD demonstration project 
    repurchased the 3% gross overriding royalty on a portion of the non-    
    owned working interests in 36.5 sections for $2.7 million.              
(4) General & administrative expenses, excluding non-cash accretion on      
    decommissioning provision and stock-based payments.                     
(5) Exploration expense relates to exploration costs associated with the    
    Citarum and South CPP PSCs that are no longer being capitalized.        
(6) Tables may not add due to rounding.                                     

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Noted IoT expert and researcher Joseph di Paolantonio (pictured below) has joined the @ThingsExpo faculty. Joseph, who describes himself as an “Independent Thinker” from DataArchon, will speak on the topic of “Smart Grids & Managing Big Utilities.” Over his career, Joseph di Paolantonio has worked in the energy, renewables, aerospace, telecommunications, and information technology industries. His expertise is in data analysis, system engineering, Bayesian statistics, data warehouses, business intelligence, data mining, predictive methods, and very large databases (VLDB). Prior to DataArchon, he served as a VP and Principal Analyst with Constellation Group. He is a member of the Boulder (Colo.) Brain Trust, an organization with a mission “to benefit the Business Intelligence and data management industry by providing pro bono exchange of information between vendors and independent analysts on new trends and technologies and to provide vendors with constructive feedback on their of...
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There will be 50 billion Internet connected devices by 2020. Today, every manufacturer has a propriety protocol and an app. How do we securely integrate these "things" into our lives and businesses in a way that we can easily control and manage? Even better, how do we integrate these "things" so that they control and manage each other so our lives become more convenient or our businesses become more profitable and/or safe? We have heard that the best interface is no interface. In his session at Internet of @ThingsExpo, Chris Matthieu, Co-Founder & CTO at Octoblu, Inc., will discuss how these devices generate enough data to learn our behaviors and simplify/improve our lives. What if we could connect everything to everything? I'm not only talking about connecting things to things but also systems, cloud services, and people. Add in a little machine learning and artificial intelligence and now we have something interesting...
Last week, while in San Francisco, I used the Uber app and service four times. All four experiences were great, although one of the drivers stopped for 30 seconds and then left as I was walking up to the car. He must have realized I was a blogger. None the less, the next car was just a minute away and I suffered no pain. In this article, my colleague, Ved Sen, Global Head, Advisory Services Social, Mobile and Sensors at Cognizant shares his experiences and insights.
We are reaching the end of the beginning with WebRTC and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) irreversibly encoded. In his session at Internet of @ThingsExpo, Peter Dunkley, Technical Director at Acision, will look at how this identity problem can be solved and discuss ways to use existing web identities for real-time communication.
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at Internet of @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, will share some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, an Open Source Cloud Communications company that helps the shift from legacy IN/SS7 telco networks to IP-based cloud comms. An early investor in multiple start-ups, he still finds time to code for his companies and contribute to open source projects.
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT. Attendees will learn real-world benefits of WebRTC and explore future possibilities, as WebRTC and IoT intersect to improve customer service.
The Internet of Things (IoT) promises to create new business models as significant as those that were inspired by the Internet and the smartphone 20 and 10 years ago. What business, social and practical implications will this phenomenon bring? That's the subject of "Monetizing the Internet of Things: Perspectives from the Front Lines," an e-book released today and available free of charge from Aria Systems, the leading innovator in recurring revenue management.
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges.
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other machines.
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice services to the modern P2P RTC era of OTT cloud assisted services.
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehension and conference efficiency.
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, will discuss single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example to explain some of these concepts including when to use different storage models.
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridstore delivers vmOptimized™ Storage that self-optimizes to each application or VM across both virtual and physical environments. Leveraging a grid architecture, Gridstore delivers the first end-to-end storage QoS to ensure the most important App or VM performance is never compromised. The storage grid, that uses Gridstore’s performance optimized nodes or capacity optimized nodes, starts with as few a...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace. These technological reforms have not only changed computers and smartphones, but are also changing the data processing model for all information devices. In particular, in the area known as M2M (Machine-To-Machine), there are great expectations that information with a new type of value can be produced using a variety of devices and sensors saving/sharing data via the network and through large-scale cloud-type data processing. This consortium believes that attaching a huge number of devic...
Innodisk is a service-driven provider of industrial embedded flash and DRAM storage products and technologies, with a focus on the enterprise, industrial, aerospace, and defense industries. Innodisk is dedicated to serving their customers and business partners. Quality is vitally important when it comes to industrial embedded flash and DRAM storage products. That’s why Innodisk manufactures all of their products in their own purpose-built memory production facility. In fact, they designed and built their production center to maximize manufacturing efficiency and guarantee the highest quality of our products.