Fintech PR
A Natural Gas Boom Is Looming For Europe
FN Media Group Presents Oilprice.com Market Commentary
LONDON, March 7, 2024 /PRNewswire/ — Europe is weathering its second winter since it cut itself off from Russian natural gas, but beyond that, without its own sufficient supplies, the continent remains vulnerable to the whims of a volatile global market. Companies mentioned in this release include: Chevron Corporation (NYSE:CVX), ExxonMobil Corporation (NYSE:XOM), ConocoPhillips (NYSE:COP), Talos Energy Inc. (NYSE:TALO), Cheniere Energy, Inc. (NYSE:LNG).
That vulnerability is now beginning to resurface, as the Biden administration presses pause on all new LNG export projects, sending waves of concern throughout Europe, which has traded dependence on Russian gas for dependence on American LNG.
In the short term, this meant significantly higher energy prices throughout Europe, with energy costs rising by 40.8% annually within the EU as of September 2022. It got so bad, in fact, that Europe shelled out $800 billion to protect consumers from the spiralling costs.
The regulatory atmosphere has changed dramatically since Russia’s invasion of Ukraine. Germany has pleaded that the Bloc “work together with countries that have the capacity to develop new gas fields, as part of the Paris Climate Agreement commitments.”
That’s exactly what MCF Energy (MCF.V; MCFNF.QX) plans to do in Germany—the EU’s biggest economy—and Austria.
Confirmed Gas Plays in Germany and Austria
MCF Energy’s prospects in Germany include the Lech concession where Mobil (before it was Exxon) drilled a wildcat well back in the ’80s. That well came in at 24 million cubic feet of natural gas per day, with 700 barrels of condensate, with a second well drilled to a deeper zone flowing almost 200 barrels of oil per day.
Back then, Germany did not require companies to share their data at all. But last year, due to Germany’s scramble to ensure more domestic production, this data was made available to the public. MCF took the opportunity and ran the 3D data by its AI specialist, which pinpointed multiple drilling locations on both Lech and Lech East with identical or very similar character to the big discovery well drilled in the 80’s on Lech that MCF will soon re-enter.
When MCF drills its first well in Germany in March, new AI and Machine learning technology as well as the improvements in drilling could change this game.
5 Prospects Secured, Drilling Launched
As a result of MCF Energy’s (MCF.V; MCFNF.QX) 100% acquisition of Germany’s Genexco last year, the company now has five licenses secured for four large-scale project areas in Germany and one in Austria, with drilling soon to be underway.
The first drill, will spud next week and set to complete in March, is in Austria, at MCF’s Welchau prospect near the Austrian Alps. Welchau appears analogous to large anticline structures discovered in Kurdistan and the Italian Apennines, and is adjacent and up-dip from a discovery, drilled in the 80’s that intersected a gas column of at least 400 meters, testing condensate rich with pipeline quality gas. A national gas pipeline network is only 18 kilometers away, making for what could be a short, cheap tie-in option for getting products to domestic markets.
MCF will earn a 25% interest for exploration drill costs estimated at 2.55 million euros, which represents MCF’s 50% share in drilling costs. Germany, which houses four of the concessions, is where MCF Energy is playing a bigger game.
The company’s Lech (10 square kilometers) and Lech East (100 square kilometers) concessions hold natural resources riches that have already seen two discoveries and three previous wells drilled.
As soon as the Austria drill is completed in March, the rig will be moved to Lech, where MCF Energy will re-enter Mobil’s former Kinsau #1 well, adapting new drilling and completion technology and eventually horizontal wells to stimulate what they already know is there.
Within the first fault block at Lech, MCF’s Hill believes there is around 20 BCF recoverable, with associated condensate.
Furthermore, all the wells had few problems during drilling, which means lows costs for drilling, coupled with nearby pipelines—the closest only 2 kilometers away—to get to market quickly and cheaply.
“The exploration possibilities are there. You’ve got the fractured carbonates, and even sandstone reservoirs that have produced in the area. So, now, it really comes down to the fact that there are also new exploration techniques, in addition to seismic, that I think will reduce the risk,” Hill told Oilprice.com.
Also in Germany, MCF Energy now has the Reudnitz Gas field concession, a large-scale natural gas prospect initially discovered in 1964.
An independent assessment by Gaffney, Cline & Associates suggests 118.7 billion cubic feet of natural gas for extraction, noting that the resources, as with the other fields in Northern Germany contain low-caloric gas rich in nitrogen, potentially diluting the hydrocarbons’ concentration. . In addition to methane, the gas at Reudnitz contains, best estimate (P50), 1.06 BCF of helium and an upper zone containing 4.4 million barrels of oil.
The fifth concession in Germany is Erlenwiese, for which 2D seismic has been acquired and is being reprocessed, with 3D on the way, along with AI analysis. This project contains two, well documented prospects which will be risk reduced with machine learning.
What Does Europe Do Next?
And the timing is significant: Europe has underinvested in natural gas as it strives to lower carbon emissions, but natural gas is turning out to be the accepted bridge fuel for the world’s energy transition. Nowhere is this more poignant than in Europe, where energy security and climate change must work hand-in-hand.
MCF (MCF.V; MCFNF.QX) is doing something unique on the natural gas playing field: It’s aiming to gain exposure to European natural gas for the first time since Russia invaded Ukraine and Western sanctions disrupted global markets.
They will very soon be drilling in Austria, and are planning to launch drilling in Germany in March, making this one of the most exciting new plays that the supermajors have left behind since they moved to bigger venues offshore.
Don’t Ignore the Energy Giants
Chevron Corporation (NYSE:CVX), one of the world’s leading energy companies, is making significant strides in the realm of natural gas, aligning its operations with the global shift towards cleaner energy sources.
Parallel to its natural gas endeavors, Chevron continues to fortify its foundational oil operations. The company leverages vast reserves and a robust downstream presence, committing to efficient and sustainable oil production.
ExxonMobil Corporation (NYSE:XOM), a titan in the global energy market, is assertively expanding its footprint in the natural gas sector, leveraging strategic investments in LNG projects and shale gas explorations to cement its position as an industry leader.
The company’s aggressive expansion into natural gas is paired with robust oil operations, suggesting a well-rounded vision for the future. Exxon Mobil offers both steady returns and growth potential, anchored by its legacy and forward-looking strategies.
ConocoPhillips (NYSE:COP), with its extensive global footprint, exhibits a balanced approach to energy, harmonizing its oil exploration and production endeavors with strategic investments in natural gas and LNG operations, particularly in North America and Asia.
Oil exploration and production remain critical pillars of ConocoPhillips’ strategy, with operations spanning across continents. The company’s emphasis on sustainable production methods highlights its commitment to environmental stewardship and operational excellence.
Talos Energy Inc. (NYSE:TALO) distinguishes itself in the exploration and production sector, focusing on oil and natural gas in the strategically significant regions of the United States Gulf of Mexico and offshore Mexico. Talos Energy has established a reputation for strategic acquisitions and a focus on exploration, demonstrating an agile approach to its operations.
The company’s commitment to environmental stewardship and sustainability is a cornerstone of its strategy, underpinned by efforts to leverage innovative technologies to minimize its ecological footprint.
Cheniere Energy, Inc. (NYSE:LNG), pioneers the liquefied natural gas (LNG) sector in the United States, operating the country’s first LNG export facilities. With a business model that encompasses the entire LNG value chain, Cheniere is well-placed to capitalize on the increasing demand for gas.
Cheniere’s commitment to sustainability is integral to its operations, aiming to improve the environmental performance of its activities. The company’s focus on safety, environmental stewardship, and community engagement positions it as a responsible provider, setting a benchmark in the LNG market.
By. Tom Kool
**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**
Forward-Looking Statements
This publication contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this publication include that large oil and gas companies will continue to focus on offshore natural gas resources; that domestic onshore natural gas assets in Europe will provide a more affordable energy source than offshore resources; that demand for natural gas will continue to increase in Europe and Germany; that Russia will not supply the majority of natural gas in Germany and Europe; that natural gas will continue to be utilized as a main energy source in Germany and other European countries and demand for natural gas, and in particular domestic natural gas, will continue and increase in the future; that MCF Energy Ltd. (the “Company”) can replicate the previous success of its key investors and management in developing and selling valuable energy assets; that the natural gas projects of the Company will be successfully tested and developed; that the Company can develop and supply a safe, domestic source of energy to European countries; that natural gas will be reclassified as sustainable energy which will support the development of the Company’s assets; that imports of liquified natural gas will not be sustainable for Europe and that European countries will need to rely on domestic sources of natural gas; that the Company expects to obtain significant attention due to its upcoming drilling plans combined with Europe desperate for domestic natural gas supply; that the upcoming drilling on the Company’s projects will be successful; that the Company’s projects will contain commercial amounts of natural gas; that the Company can finance ongoing operations and development; that the Company can achieve its business plans and objectives as anticipated. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that large oil and gas companies will start focusing on the development of domestic natural gas resources; that the natural gas resources of competitors will be more successful or obtain a greater share of market supply; that offshore liquified natural gas assets will be favored over domestic resources for various reasons; that alternative technologies will replace natural gas as a mainstream energy source in Europe and elsewhere; that demand for natural gas will not continue to increase as expected for various reasons, including climate change and emerging technologies; that political changes will result in Russia or other countries providing natural gas supplies in future; that the Company may fail to replicate the previous success of its key investors and management in developing and selling valuable energy assets; that the natural gas projects of the Company may fail to be successfully tested and developed; that the Company’s projects may not contain commercial amounts of natural gas; that the Company may be unable to develop and supply a safe, domestic source of energy to European countries; that natural gas may not be reclassified as sustainable energy or may be replaced by other energy sources; that the upcoming drilling on the Company’s projects may be unsuccessful or may be less positive than expected; that the Company’s projects may not contain commercial amounts of natural gas; that the Company may be unable to finance its ongoing operations and development; that the Company can achieve its business plans and objectives as anticipated; that the Company may be unable to finance its ongoing operations and development; that the business of the Company may be unsuccessful for various reasons. The forward-looking information contained herein is given as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
DISCLAIMERS
This communication is for entertainment purposes only. Never invest purely based on our communication. We have not been compensated by MCF Energy Ltd. for this article but may in the future be compensated to conduct investor awareness advertising and marketing for MCF Energy Ltd. While the opinions expressed in this article are based on information believed to be accurate and reliable, such information in our communications and on our website has not been independently verified and is not guaranteed to be correct. The content of this article is based solely on our opinions which are based on very limited analysis and we are not professional analysts or advisors.
SHARE OWNERSHIP. The owner of Oilprice.com owns shares of MCF Energy Ltd. and therefore has an incentive to see the featured company’s stock perform well. The owner of Oilprice.com will not notify the market when it decides to buy more or sell shares of MCF Energy Ltd. in the market. The owner of Oilprice.com will be buying and selling shares of this issuer for its own profit. Accordingly, our views and opinions in this article are subject to bias, and we stress that you should conduct your own extensive due diligence regarding the Company as well as seek the advice of your professional financial advisor or a registered broker-dealer before you consider investing in any securities of the Company or otherwise.
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JAKARTA, Indonesia, Oct. 18, 2024 /PRNewswire/ — Nium, the leading global infrastructure for real-time cross-border payments, is thrilled to announce a partnership with Bank Rakyat Indonesia (BRI) to provide Indonesian customers with real-time international money transfer capabilities. This collaboration aims to enhance the cross-border offerings for BRI’s individual and corporate customers, delivering more accessible and cost-effective financial services across Indonesia.
This partnership empowers more than 150 million BRI account holders, including those in remote regions of Indonesia, to access modern, real-time cross-border payment services. The offering includes a variety of real-time payment mechanisms, supporting bank account destinations, a global electronic card network, and digital wallets. These innovations are closely aligned with BRI’s ongoing mission to provide affordable and customer-focused financial products, particularly for traditionally underserved communities.
BRI’s Corporate Secretary, Agustya Hendy Bernadi, emphasized BRI’s dedication to constantly improving customer convenience through innovations in its global network and cross-border transaction services. “This collaboration reflects BRI’s continuous efforts to enhance productivity and efficiency by expanding its digital payment channel network to meet the growing demand for global transactions,” he said. Agustya added that the partnership with Nium aligns perfectly with BRI’s vision to be Southeast Asia’s most valuable banking group and a champion of financial inclusion by 2025. “With Nium’s global transaction network, BRI strengthens the digitalization of its business processes and enhances retail banking capabilities in line with our 2025 strategic vision.”
Anupam Pahuja, General Manager and Executive Vice President for Asia Pacific, Middle East, and Africa at Nium, shared his excitement about the partnership, highlighting BRI’s extensive presence across Indonesia’s 17,000 islands. “By integrating Nium’s advanced technology into BRI’s platform, we are dedicated to providing BRI’s customers, no matter where they are, with access to exceptional financial services. This partnership will remove the risks associated with cash handling and provide faster, more cost-effective transactions—whether individuals are sending money to family members abroad or businesses are making international payments.”
Cross-border payments are projected to grow significantly in Indonesia, with a forecasted year-on-year increase of 15% through 2025, driven largely by the digital transformation in financial services (Statista, 2024).
This partnership between BRI and Nium is expected to transform the way Indonesians engage with global financial services, meeting the rising demand for modern payment infrastructure and enhancing the overall experience for BRI’s customers in their international transactions.
About Nium
Nium, the leading global infrastructure for real-time cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 220+ markets, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 40 markets. Nium’s growing card issuance business is already available in 34 countries. Nium holds regulatory licenses and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore.
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Fintech PR
Grexie Signchain Launches on November 1st, 2024: Enabling Smart Contract Developers to Bring Off-Chain Data On-Chain with Seamless Gas-Paid Signing
Grexie Signchain enables developers to sign off-chain data into smart contracts, with self-hosted or secure vault signer wallet management.
MANCHESTER, England, Oct. 17, 2024 /PRNewswire/ — Grexie Limited proudly announces the launch of its innovative smart contract solution, Signchain, on November 1st, 2024. Designed specifically for developers, Signchain introduces a powerful way to bring off-chain data on-chain through user-paid gas fees and secure signing of data into smart contract methods using its extendable smart contract, Signable.
In the growing landscape of blockchain technology, securely managing off-chain data and integrating it into on-chain smart contracts has posed significant challenges for developers. Signchain eliminates these hurdles by offering a robust, gas-efficient system for signing and authenticating data in real-time.
Key Features of Signchain:
1. Seamless Off-Chain to On-Chain Data Integration
Signchain enables developers to securely bring off-chain data on-chain by signing it directly into smart contract methods through user-paid gas fees. This integration ensures that data authenticity is preserved, and its entry into the blockchain remains tamper-proof, streamlining processes for industries relying on real-world data verification. Signchain also supports integration with Google Sheets, AWS, and Firebase, making it easy to pull data from popular off-chain data sources.
2. Extendable Smart Contract – Signable
The core of Signchain’s technology is its extendable smart contract, Signable, which allows developers to customize and build upon existing smart contracts. With Signable, developers can easily implement contract signatures for any data type, offering flexibility across industries from finance to logistics and beyond.
3. Signer Wallet Management
Signchain offers comprehensive signer wallet management as part of its service, empowering developers to manage and authenticate signers effectively. Wallets can either be self-hosted using Signchain’s Docker container for those who prefer their own infrastructure, or they can leverage Signchain’s network of secure vaults for maximum security.
4. Self-Hosted or Managed Service
For developers who want full control of their infrastructure, Signchain provides a self-hosted option via Docker containers, allowing them to deploy the platform on their own servers. Alternatively, developers can opt to use Signchain’s secure vault network, offering a hassle-free solution with enterprise-grade security and wallet management.
5. User-Paid Gas Fees
By integrating a user-paid gas fee model, Signchain allows users to cover the costs of signing and authenticating their data, ensuring the signing process is efficient and doesn’t overburden developers with additional expenses. This makes Signchain an ideal solution for dApps and platforms handling high transaction volumes.
6. Google Sheets, AWS, Firebase Integration with Serverless Model
Signchain supports integration with Google Sheets, AWS, and Firebase in a serverless model, powered by a hosted Sign In With Ethereum (SIWE) implementation provided by Signchain’s API. Developers can simply connect their Google Sheets and configure the contract parameters associated with each column. Signchain will automatically look up the user’s wallet address in the spreadsheet, sign the transaction data, and execute it in the blockchain along with any user-supplied parameters. This creates an easy, efficient way to manage data inputs from off-chain sources without heavy infrastructure setup.
Revolutionizing Smart Contract Workflows
With Signchain, developers now have the tools to handle the complexities of integrating off-chain data into smart contracts. The extendable nature of Signable offers flexibility, allowing developers to cater to various use cases, whether it’s automating financial transactions, supply chain data, or verifying legal agreements.
Tim Behrsin, CEO of Grexie Limited, said, “Signchain is more than just a signing solution—it’s a platform that empowers developers to securely integrate off-chain data into their smart contracts with minimal effort. The flexibility of Signable and our focus on signer wallet management offers developers control and security at every stage of the process.”
Why Signchain Matters
Signchain addresses critical challenges faced by developers, particularly those dealing with off-chain data. By signing data into smart contracts and enabling user-paid gas fees, the platform significantly reduces friction in managing secure, scalable smart contracts. Whether developers need to manage high volumes of data transactions or create bespoke smart contracts, Signchain offers a scalable and secure solution.
In industries like DeFi, real estate, and supply chain management, data integrity and security are paramount. Signchain’s secure vault network and customizable signing workflows allow businesses to handle sensitive information with confidence.
Launch Event and Future Developments
The official launch of Signchain will take place on November 1st, 2024, alongside a virtual event. The event will showcase live demonstrations of Signable, with detailed walkthroughs of the Docker-based self-hosted solution and signer wallet management features. Attendees will also get an exclusive preview of future enhancements, including multi-signature workflows and advanced blockchain network integrations.
About Signchain
Signchain is a cutting-edge platform developed by Grexie Limited, based in Manchester, Cheshire, United Kingdom. Signchain simplifies smart contract development by offering a secure, scalable, and customizable solution for signing and authenticating off-chain data on-chain. Developers can either self-host the solution using Signchain’s Docker container or rely on the network’s secure vault infrastructure. With an emphasis on security, flexibility, and developer experience, Signchain is set to transform how smart contracts handle off-chain data.
For more information, visit signchain.net.
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OXFORD, England, Oct. 17, 2024 /PRNewswire/ — n2 Group, the transformative computing technology investment company, announces the acquisition of high-performance computing (HPC) and AI specialists, X-ISS. The addition of X-ISS expands the Group’s portfolio– joining NAG, VSNi, BioTeam and STAC—as it accelerates advancements in technology and computation, underpinned by innovation, technical excellence, and a focus on long-term growth.
n2 Group invests selectively in technical computing companies with deep business impact in a variety of sectors, providing operational support and a collaborative approach to innovation and business transformation. The addition of X-ISS will further strengthen the Group’s already strong HPC/AI credentials, with NAG, STAC and BioTeam already adding to this space.
X-ISS is a pioneer in Managed Services specifically designed for HPC/AI. With their in-depth understanding of hardware and software complexities within HPC and AI, they deliver highly impactful end-to-end services to clients through the integration, optimization and management of HPC/AI systems. The integration of X-ISS into n2 Group aligns with the Group vision of improving the accessibility, quality and robustness of computing solutions to enable greater productivity in industry.
X-ISS will operate as an autonomous business within the n2 Group, maintaining its brand, identity and ethos. n2 Group’s status as an independent, member-backed organisation with no external financial stakeholders allows X-ISS to continue providing impartial advice based on the technology needs and challenges of its clients. Inter-group synergies will enable greater innovation and collaboration, advancing the Group’s position and long-term HPC/AI market impact.
“X-ISS strengthens the n2 community in the strategically important area of HPC/AI”, said Adrian Scales, Snr Director of Investments and Partnerships at n2 Group. “As a respected boutique HPC service provider, X-ISS is helping clients navigate an increasingly complex landscape in terms of technologies and software integrations with AI and analytics. The acquisition strongly complements the Group’s existing HPC professional services capability, and we are delighted to have them on board.”
“This is an important milestone for X-ISS.”, said Deepak Khosla, CEO X-ISS, “The partnership with n2 Group will enable us to enhance our flagship ManagedHPC solution by leveraging n2‘s complementary services and product developments, allowing us to deliver even greater value to our customers. As businesses face increasing challenges with complex technologies like AI and cloud computing, we’re now better equipped to support them with the same quality, passion, and partnership that defines X-ISS. I am excited about the opportunities this can bring for current and future X-ISS customers.”
About n2 Group
At n2 Group we are transforming computing and technology investment with a radical new approach. Our businesses are all established, purpose-driven market-leaders in computing products or services. We stimulate long-term sustainable growth through group-level support in strategy, business development, innovation, and operations. With no shareholders or external financial interests, we reinvest all profits back into the group or to the community, reinforcing our commitment to positive social impact through technological advancements.
n2 Group companies are at the forefront of computing and IT infrastructure, helping clients in various sectors to be more productive, innovative or reduce risk through advanced software and services. Rapidly expanding in high-performance computing, artificial intelligence, and scientific computing, our businesses maintain their unique brands and identities, but benefit from the expanded network available through the group.
n2 Group Companies
• BioTeam: Scientific computing consultancy integrating technologies, data, and cultures to accelerate science.
• NAG: Advanced products and services in algorithms, optimization, high-performance computing and AI.
• STAC: Independent financial services technology research and community events.
• VSNi: Proven statistical solutions and data expertise driving innovation and success.
• X-ISS: Industry leading management and analytics solutions for HPC/AI systems.
For more detailed information and the latest updates, visit n2 Group.
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