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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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Mar. 22, 2018 10:15 PM EDT Reads: 1,309 | By Yeshim Deniz  With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors!
In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading... Mar. 22, 2018 01:30 PM EDT Reads: 1,962 | By Yeshim Deniz  The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences. Mar. 21, 2018 02:30 PM EDT Reads: 2,007 | By Ram Sonagara  The IoT Will Grow: In what might be the most obvious prediction of the decade, the IoT will continue to expand next year, with more and more devices coming online every single day. What isn’t so obvious about this prediction: where that growth will occur. The retail, healthcare, and industrial/supply chain industries will likely see the greatest growth. Forrester Research has predicted the IoT will become “the backbone” of customer value as it continues to grow. It is no surprise that retail is ... Mar. 20, 2018 02:45 PM EDT Reads: 2,858 | By Yeshim Deniz  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 settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul... Mar. 20, 2018 02:30 PM EDT Reads: 2,285 | By Yeshim Deniz  DXWorldEXPO LLC announced today that "Miami Blockchain Event by FinTechEXPO" has announced that its Call for Papers is now open. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Financial enterprises in New York City, London, Singapore, and other world financial capitals are embracing a new generation of smart, automated FinTech that eliminates many cumbersome, slow, and expe... Mar. 20, 2018 12:30 PM EDT Reads: 2,746 |
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Our cities have been connected since the dawn of urbanization in the Indus Valley and on the plains of Mesopotamia nearly ten millennia ago. Cities exist to gather and connect people, bringing us together into communities and joint ventures that need complex networks of communication. But in recent years the connected city has come to mean something more. Today and in the future, the connected city will not just be about people connecting with people, but people with machines, people with people via machines, and perhaps most importantly, machines with machines.
It takes years – sometimes a lifetime – to perfect certain skills in life: hitting a jump shot off the dribble, nailing that double high C on the trumpet, parallel parking a Ford Expedition. Malcolm Gladwell wrote a book, “Outliers,” discussing the amount of work – 10,000 hours – required to perfect a skill (while the exactness of 10,000 hours has come under debate, it is still a useful point that people need to invest considerable time and effort to master a skill). But once we get comfortable with something that we feel that we have mastered, we become reluctant to change. We are reluctant t...
A strong declaration from a historically antagonist foe should put chills in the hearts of Americans preparing themselves for the world ahead: Russian President Vladimir Putin says the nation that leads in AI will be the ruler of the world [1]” … The ruler of the world!
From the article (with some modification to avoid political landmines), we get the following:
“The development of artificial intelligence has increasingly become a national security concern in recent years. It is China and the US (not Russia), which are seen as the two frontrunners, with China recently announcing its ambi...
W. Edward Deming taught that quality is achieved by measuring as much as possible and reducing variations, and reducing variation is achieved by improving the system, not just pieces. Japan widely adopted Deming's philosophies in the 1950s and became the 2nd biggest economy in the world. Quality improvement didn't decrease jobs in Japan, it increased jobs.
AI now has the ability to expand and codify Deming's philosophies - to take them to the next level. AI can improve and standardize decision making based on logic, rather than the fear of missing objectives, bonuses or losing one's job. I...
As we end 2017, I’m tired of writing “lecturing” blogs about what organizations should be doing to master data monetization in order to power their business models and achieve digital transformation. While the objective of every organization should be to master big data and data science (artificial intelligence, machine learning, deep learning) to drive “data monetization,” let’s take a breath and have some fun.
My recent ankle surgery afforded me the opportunity to binge watch “Game of Thrones.” As I watched the impending battle between the White Walkers and humanity, I couldn’t help but ...
Since releasing the University of San Francisco research paper on “How to Determine the Economic Value of Your Data” (EvD), I have had numerous conversations with senior executives about the business and technology ramifications of EvD. Now with the release of Doug Laney’s “Infonomics” book that builds upon Doug’s EvD work at Gartner, I expect these conversations to intensify. In fact, I just traveled to Switzerland to discuss the potential business and technology ramifications of EvD with the management team of a leading European Telecommunications company.
Industry after industry is under siege as companies embrace digital transformation (DX) to disrupt existing business models and disintermediate their competitor’s customer relationships. But what do we mean by “Digital Transformation”? The coupling of granular, real-time data (e.g., smartphones, connected devices, smart appliances, wearables, mobile commerce, video surveillance) with modern technologies (e.g., cloud native apps, big data architectures, hyper-converged technologies, artificial intelligence, blockchain) to enhance products, processes, and business-decision making with customer, ...
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