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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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CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
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"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"We work in the area of Big Data analytics and Big Data analytics is a very crowded space - you have Hadoop, ETL, warehousing, visualization and there's a lot of effort trying to get these tools to talk to each other," explained Mukund Deshpande, head of the Analytics practice at Accelerite, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Cloud Expo, Inc. has announced today that Andi Mann returns to 'DevOps at Cloud Expo 2016' as Conference Chair The @DevOpsSummit at Cloud Expo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited t...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, provided an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profession...
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...